System and method that provide incentives to qualified users of an electronic trading system
First Claim
1. A method comprising:
- monitoring, via a processor, a trading activity of a user using a remote device that is remote to a trading system, in which the remote device and the processor are in electronic communication over a network;
determining, via the processor based on monitoring the trading activity of the user, that a plurality of orders submitted by the user over a period of time exceeds a first threshold and that a spread of the plurality of orders exceeds a second threshold, in which the first threshold and the second threshold are determined in advance of the act of monitoring;
designating, via the processor based on determining that the plurality of orders exceeds the first threshold and the second threshold, that the user qualifies for a special status;
determining, via the processor in response to determining that the user qualifies for the special status, that the user is entitled to at least one incentive in trading;
applying via the processor, the at least one incentive to an order submitted by the user, in which the at least one incentive provides the user with a priority in a trading queue; and
executing via the processor based on the special status of the user, the order submitted by the user in advance of other orders in the trading queue.
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Abstract
Systems and methods for electronic trading that provide incentives to users of a trading system. The systems and methods may monitor a trading activity of the user and determine that the orders submitted by the user over a period of time exceed a first pre-determined threshold. Systems and methods also determine that a spread of the plurality of orders exceeds a second pre-determined threshold. Based on these determinations, the user is designated as qualifying for a special status, which entitles the user to incentives in trading. Systems and methods apply the incentives to an order submitted by the user. One such incentive provides the user with a priority in a trading queue, where orders submitted by the user are executed in advance of other orders in the trading queue.
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Citations
26 Claims
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1. A method comprising:
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monitoring, via a processor, a trading activity of a user using a remote device that is remote to a trading system, in which the remote device and the processor are in electronic communication over a network; determining, via the processor based on monitoring the trading activity of the user, that a plurality of orders submitted by the user over a period of time exceeds a first threshold and that a spread of the plurality of orders exceeds a second threshold, in which the first threshold and the second threshold are determined in advance of the act of monitoring; designating, via the processor based on determining that the plurality of orders exceeds the first threshold and the second threshold, that the user qualifies for a special status; determining, via the processor in response to determining that the user qualifies for the special status, that the user is entitled to at least one incentive in trading; applying via the processor, the at least one incentive to an order submitted by the user, in which the at least one incentive provides the user with a priority in a trading queue; and executing via the processor based on the special status of the user, the order submitted by the user in advance of other orders in the trading queue. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. An apparatus comprising:
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a processor; and a memory, in which the memory stores instructions which, when executed by the processor, direct the processor to; monitor a trading activity of a user on a trading system; determine, based on monitoring the trading activity of the user, that a plurality of orders submitted by the user over a period of time exceeds a first threshold and that a spread of the plurality of orders exceeds a second threshold, in which the first threshold and the second threshold are determined in advance of the act of monitoring; designate, based on determining that the plurality of orders exceeds the first threshold and the second threshold, that the user qualifies for a special status; determine, in response to determining that the user qualifies for a special status, that the user is entitled to at least one incentive in trading; apply the at least one incentive to an order submitted by the user, in which the at least one incentive provides the user with a priority in a trading queue; and execute, based on the special status of the user, the order submitted by the user in advance of other orders in the trading queue. - View Dependent Claims (16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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Specification