Click based trading with market depth display
First Claim
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1. A method of placing a trade order in an electronic trading environment, the method comprising:
- displaying an inside market for a tradeable object via a display associated with a computing device, the inside market having a best bid and a best ask available for the tradeable object at an electronic exchange;
receiving a preset trade order parameter for changing a price of a trade order to be submitted to the electronic exchange, the trade order parameter received via an input device associated with the computing device;
receiving a user command for entering a trade order for the tradeable object via the input device, the user command identifying a price for the trade order outside of the inside market;
in response to the user command, determining a trade order price according to at least the preset trade order parameter and the identified price via the computing device, wherein the trade order price is different than the identified price; and
submitting the trade order for the tradeable object at the trade order price to the electronic exchange.
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Abstract
A method and system for reducing the time it takes for a trader to place a trade when electronically trading commodities on an exchange, thus increasing the likelihood that the trader will have orders filled at desirable prices and quantities. Click based trading, as described herein and specifically the “Click” and “Dime” methods of the present invention, enables a trader to execute single mouse click trades for large volumes of commodities at a price within a pre-specified range.
80 Citations
16 Claims
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1. A method of placing a trade order in an electronic trading environment, the method comprising:
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displaying an inside market for a tradeable object via a display associated with a computing device, the inside market having a best bid and a best ask available for the tradeable object at an electronic exchange; receiving a preset trade order parameter for changing a price of a trade order to be submitted to the electronic exchange, the trade order parameter received via an input device associated with the computing device; receiving a user command for entering a trade order for the tradeable object via the input device, the user command identifying a price for the trade order outside of the inside market; in response to the user command, determining a trade order price according to at least the preset trade order parameter and the identified price via the computing device, wherein the trade order price is different than the identified price; and submitting the trade order for the tradeable object at the trade order price to the electronic exchange. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A computer readable medium having computer executable instructions stored thereon, which when executed cause a computing device to carry out a method comprising:
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displaying an inside market for a tradeable object via a display associated with the computing device, the inside market having a best bid and a best ask available for the tradeable object at an electronic exchange; receiving a preset trade order parameter for a range of prices from the inside market for submitting orders to the electronic exchange, the trade order parameter received via an input device associated with the computing device; receiving a user command for entering an order for the tradeable object via the input device, the user command identifying a price for the order outside of the inside market; in response to the user command, determining a trade order price according to at least the preset trade order parameter and the identified price via the computing device; and submitting the order for the tradeable object at the trade order price to the electronic exchange. - View Dependent Claims (12, 13, 14, 15, 16)
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Specification