System and method for processing securities trading instructions and communicating order status via a messaging interface
First Claim
1. A method for communicating instructions via a communications network, the method comprising a computerized system:
- receiving, via a communications network, a plurality of electronic communications, wherein at least one of the plurality of electronic communications comprises a textual body of free-form natural language content;
scanning the textual body of free-form natural language content of the at least one of the plurality of electronic communications to identify at least one of a predefined plurality of keywords, each of said plurality of keywords corresponding to a respective trading order instruction;
parsing the textual body of free-form natural language content of the at least one of the plurality of electronic communications to identify at least one parameter corresponding to the respective trading order instruction;
retrieving from a database, based at least in part, on the at least one of the predefined plurality of keywords and the at least one parameter, information relating to the respective trading order instruction;
preparing, in response to scanning, parsing and retrieving, a responsive electronic communication providing the information retrieved from the database, the information based at least in part on the last one of the predefined plurality of keywords and the at least one parameter of the respective trading order instruction; and
transmitting, to a sender of the at least one of the electronic communications via the communications network, the responsive electronic communication including the information retrieved from the database.
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0 Petitions
Accused Products
Abstract
A system allowing traders, etc. to use instant messaging (IM) (or other non-FIX based) communications to input trading instructions directly into a broker'"'"'s Order Management System (OMS) for managing/executing trades. Accordingly, trading instructions may be provided electronically directly from a buy-side trader, and directly to a sell-side broker'"'"'s/brokerage'"'"'s OMS, without the need for the sell-side broker to manually re-key the order into the sell-side firm'"'"'s OMS. Further, trading instructions are provided in electronic format directly to the broker'"'"'s OMS without the need for the buy-side trader to have an expensive FIX based OMS or associated FIX connection, which is also expensive, thereby allowing relatively smaller investment houses/buy-side organizations to enjoy the benefits of electronic delivery of trading instructions directly to brokers'"'"' OMS.
41 Citations
20 Claims
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1. A method for communicating instructions via a communications network, the method comprising a computerized system:
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receiving, via a communications network, a plurality of electronic communications, wherein at least one of the plurality of electronic communications comprises a textual body of free-form natural language content; scanning the textual body of free-form natural language content of the at least one of the plurality of electronic communications to identify at least one of a predefined plurality of keywords, each of said plurality of keywords corresponding to a respective trading order instruction; parsing the textual body of free-form natural language content of the at least one of the plurality of electronic communications to identify at least one parameter corresponding to the respective trading order instruction; retrieving from a database, based at least in part, on the at least one of the predefined plurality of keywords and the at least one parameter, information relating to the respective trading order instruction; preparing, in response to scanning, parsing and retrieving, a responsive electronic communication providing the information retrieved from the database, the information based at least in part on the last one of the predefined plurality of keywords and the at least one parameter of the respective trading order instruction; and transmitting, to a sender of the at least one of the electronic communications via the communications network, the responsive electronic communication including the information retrieved from the database. - View Dependent Claims (4, 5, 6, 7, 8, 9, 10, 11)
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2. A system for communicating via a communications network, the system comprising:
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a microprocessor; a memory operatively connected to the microprocessor; a network interface device operatively connected to the microprocessor for communicating via the communications network; and instructions stored in the memory and executable by the microprocessor to carry out the method of; receiving, via a communications network, a plurality of electronic communications, wherein at least one of the plurality of electronic communications comprises a textual body of natural language content related to a securities trading order; scanning the textual body of natural language content of the at least one of the plurality of electronic communications to identify at least one of a predefined plurality of keywords, each of said plurality of keywords corresponding to a respective securities trading order instruction; parsing the textual body of natural language content of the at least one of the plurality of electronic communications to identify at least one parameter corresponding to the respective securities trading order instruction, wherein data for the at least one parameter of the securities trading order is missing; prompting for data entry to supply the at least one parameter corresponding to the respective securities trading order instruction; retrieving from a database, based at least in part, on the at least one of the predefined plurality of keywords and the at least one parameter, information relating to the respective securities trading order instruction; preparing, in response to scanning, parsing and retrieving, a responsive electronic communication providing the information retrieved from the database, the information based at least in part on the last one of the predefined plurality of keywords and the at least one parameter; and transmitting, to a sender of the at least one of the electronic communications via the communications network, the responsive electronic communication including the information retrieved from the database. - View Dependent Claims (12, 13, 14, 15, 16)
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3. A computer program product embodied on one or more non-transitory computer-readable media, the computer program product adapted for communicating via a communications network and comprising computer-readable program code that, when executed by a processor, performs a method for communicating instructions via a communications network, the method comprising:
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receiving, via a communications network, a plurality of electronic communications, wherein at least one of the plurality of electronic communications comprises a textual body of natural language content; scanning the textual body of natural language content of the at least one of the plurality of electronic communications to identify at least one of a predefined plurality of keywords, each of said plurality of keywords corresponding to a respective instruction; parsing the textual body of natural language content of the at least one of the plurality of electronic communications to identify a side parameter corresponding to the respective instruction, wherein the side parameter identifies whether the respective instruction is for a buy side or a sell side; retrieving from a database, based at least in part, on the at least one of the predefined plurality of keywords and the side parameter, information relating to the respective instruction; preparing, in response to scanning, parsing and retrieving, a responsive electronic communication providing the information retrieved from the database, the information based at least in part on the last one of the predefined plurality of keywords and the side parameter; and transmitting, to a sender of the at least one of the electronic communications via the communications network, the responsive electronic communication including the information retrieved from the database. - View Dependent Claims (17, 18, 19, 20)
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Specification