System and method for coalescing market data at a network device

• US 8,571,959 B2
• Filed: 11/29/2012
• Issued: 10/29/2013
• Est. Priority Date: 06/26/2002
• Status: Expired due to Term

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Schluetter, Jens-Uwe, Schwarz, Stephen A.
• Primary Examiner(s): Dixon, Thomas
• Assistant Examiner(s): Fields, Benjamin S
• Application Number:
  US13/689,644
• Publication Number:
  US 20130085923A1
• Time in Patent Office: 334 Days
• Field of Search: 705/37, 705/35
• US Class Current: 705/35
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: H04L 41/0896 Bandwidth or capacity management, i.e. automatically increasing or decreasing capacities flow or congestion control using dynamic resource allocation, e.g. in-call renegotiation, H04L47/76

Abstract

A network device coalesces data received from an exchange, and provides a user with the opportunity to receive fewer, but up-to-date, data updates from an exchange when duplicate prices become available or a large volume of prices becomes available suddenly. Accordingly, the trader can be assured of receiving non-duplicated prices that are fed at a rate that is cohesive with that trader'"'"'s connection speed. The present invention is designed to conserve on bandwidth thereby increasing the likelihood that bandwidth will be available to receive desirable market information.

Claims

1. A method for distributing data for a tradeable object, the method comprising:

distributing, via a network device, market data to a plurality of client devices, where for each client device of the plurality of devices, the market data is distributed at a level of service for a connection between the network device and the client device and includes coalesced market updates in response to a data feed for the market data being received at the network device at a rate being greater than the level of service.

2. The method of claim 1 where each connection between the network device and each client device is different.

3. The method of claim 1 where the level of service for each connection between the network device and each client device is different.

4. The method of claim 1 further comprising automatically adjusting via the network device the level of service to an adjusted level of service.

5. The method of claim 4 where the level of service for the connection between the network device and the client device is automatically adjusted according to at least one of a measured latency and a measured bandwidth for the connection.

6. The method of claim 1 where the level of service is user selected.

7. The method of claim 6 where the level of service is selectable from a plurality of selectable levels of service.

8. The method of claim 1 where the market data comprises at least one of price, order fill updates, last traded price (LTP), last traded quantity (LTQ), best bid price, best bid quantity, best ask price, best ask quantity and settlement price for a tradeable object.

9. The method of claim 1 where the network device comprises a gateway.

10. The method of claim 1, where the coalesced market updates comprise at least one of a replaced value associated with a first market update replaced by a value in a second market update and a value added from a second market update to a first market update.

11. A non-transitory computer readable medium having computer executable instructions stored thereon which when executed cause a computer to carry out acts comprising:

distributing, via a network device, market data to a plurality of client devices, where for each client device of the plurality of devices, the market data is distributed at a level of service for a connection between the network device and the client device and includes coalesced market updates in response to a data feed for the market data being received at the network device at a rate being greater than the level of service.

12. The non-transitory computer readable medium of claim 11 where each connection between the network device and each client device is different.

13. The non-transitory computer readable medium of claim 11 where the level of service for each connection between the network device and each client device is different.

14. The non-transitory computer readable medium of claim 11 where the acts further comprise automatically adjusting via the network device the level of service to an adjusted level of service.

15. The non-transitory computer readable medium of claim 14 where the level of service for the connection between the network device and the client device is automatically adjusted according to at least one of a measured latency and a measured bandwidth for the connection.

16. The non-transitory computer readable medium of claim 11 where the level of service is user selected.

17. The non-transitory computer readable medium of claim 16 where the level of service is selectable from a plurality of selectable levels of service.

18. The non-transitory computer readable medium of claim 11 where the market data comprises at least one of price, order fill updates, last traded price (LTP), last traded quantity (LTQ), best bid price, best bid quantity, best ask price, best ask quantity and settlement price for a tradeable object.

19. The non-transitory computer readable medium of claim 11 where the network device comprises a gateway.

20. The non-transitory computer readable medium of claim 11 where the coalesced market updates comprise at least one of a replaced value associated with a first market update replaced by a value in a second market update and a value added from a second market update to a first market update.