System and method for icon oriented representation of trading strategies

• US 8,744,953 B2
• Filed: 03/03/2010
• Issued: 06/03/2014
• Est. Priority Date: 09/22/2003
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Tanpoco, Alvin F.
• Primary Examiner(s): Khattar, Rajesh
• Application Number:
  US12/716,700
• Publication Number:
  US 20100161512A1
• Time in Patent Office: 1,553 Days
• Field of Search: 705 35- 45
• US Class Current: 705/37
• CPC Class Codes: G06F 3/04817 using icons graphical or visual programming using iconic symbols G06F8/34
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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

Abstract

A system and method for visually establishing a trading strategy are described. According to one method, a trader can position a first icon corresponding to a first order and a second icon corresponding to a second order in relation to a first value axis displayed on a graphical interface. A graphical means can also be used in relation to the icons to show that the icons correspond to a trading strategy. The graphical means can include lines, numbers, or any other user-configurable graphical representation illustrating order precedence, for example.

Claims

1. A method for establishing a trading strategy for a tradeable object, comprising:

selecting, via a client device, a first subset of icons from an icon library having a plurality of icons, where the plurality of icons includes at least one icon being configurable to create a trading strategy including multiple orders, where each icon of the plurality of icons graphically represents a different order type available for trading at an electronic exchange and includes at least one pre-populated parameter for the type of order graphically represented by the icon, and where the first subset of icons is selected based on types of orders available at a first electronic exchange;

receiving a first user command via the client device to select a first icon from the first subset of icons and to move the first icon to a first location of a first value axis for a first tradeable object, where the first location represents a price of a first order for the first tradeable object;

displaying, via the client device, a first order icon associated with the first order at the first location;

selecting, via the client device, a second subset of icons from the icon library, where the second subset of icons is selected based on types of orders available at a second electronic exchange;

receiving a second user command via the client device to select a second icon from the second subset of icons, to move the second icon to a second location of a second value axis for a second tradeable object, and to create a trading strategy including a second order for the second tradeable object and the first order for the first tradeable object, where the second location represents a price for the second order;

displaying, via the client device, a second order icon associated with the second order at the second location; and

displaying a graphical indicator relative to the first order icon and the second order icon via the client device, the graphical indicator graphically representing the trading strategy including the first order and the second order.

2. The method of claim 1 where the first value axis comprises a first price derivative axis.

3. The method of claim 2 where the second value axis comprises a second price derivative axis.

4. The method of claim 1 further comprising submitting the second order in response to detecting at least a partial fill of the first order.

5. The method of claim 1 where the first tradeable object and the second tradeable object are substantially the same, and the first value axis and the second value axis are substantially the same.

6. The method of claim 1 where the first electronic exchange and the second electronic exchange are different.

7. The method of claim 6 where the first tradeable object and the second tradeable object are different.

8. The method of claim 7 where the first subset of icons and the second subset of icons are different.

9. The method of claim 1 where the first subset of icons is selected in response to a connection to the first electronic exchange and the second subset of icons is selected in response to a connection to the second electronic exchange.

10. The method of claim 1, wherein the first order icon graphically represents a state of the first order and the second order icon graphically represents a state of the second order.

11. The method of claim 1 where the graphic indicator represents an execution precedence between the first order and the second order.

12. A non-transitory computer readable medium having instructions stored thereon, which when executed by a processor cause the processor to carry out acts comprising:

selecting a first subset of icons from an icon library having a plurality of icons, where the plurality of icons includes at least one icon being configurable to create a trading strategy including multiple orders, where each icon of the plurality of icons graphically represents a different order type available at an electronic exchange and includes at least one pre-populated parameter for the type of order graphically represented by the icon, and where the first subset of icons is selected based on types of orders available at a first electronic exchange;

receiving a first user command to select a first icon from the subset of icons and to move the first icon to a first location of a first value axis for a tradeable object, where the first location represents a price of a first order for a first tradeable object;

displaying a first order icon associated with the first order at the first location;

selecting a second subset of icons from the icon library, where the second subset of icons is selected based on types of orders available at a second electronic exchange;

receiving a second user command to select a second icon from the subset of icons, to move the second icon to a second location of a second value axis for a second tradeable object, and to create a trading strategy including a second order for the second tradeable object and the first order for the first tradeable object, where the second location represents a price for the second order;

displaying a second order icon associated with the second order at the second location; and

displaying a graphical indicator relative to first order icon and the second order icon, the graphical indicator graphically representing the trading strategy including the first order and the second order.

13. The non-transitory computer readable medium of claim 12 where the first value axis comprises a first price derivative axis and the second value axis comprises a second price derivative axis.

14. The non-transitory computer readable medium of claim 12 further comprising submitting the second order in response to detecting at least a partial fill of the first order.

15. The non-transitory computer readable medium of claim 12 where the first tradeable object and the second tradeable object are substantially the same, and the first value axis and the second value axis are substantially the same.

16. The non-transitory computer readable medium of claim 12 where the first electronic exchange and the second electronic exchange are different, and the first tradeable object and the second tradeable object are different.

17. The non-transitory computer readable medium of claim 12 where the first subset of icons is selected in response to a connection to the first electronic exchange and the second subset of icons is selected in response to a connection to the second electronic exchange.

18. A client device displaying a graphical interface for defining a trading strategy, comprising:

a memory having an icon library having a plurality of icons, where the plurality of icons includes at least one icon being configurable to create a trading strategy including multiple orders, where each icon of the plurality of icons graphically represents a different order type available for trading at an electronic exchange and includes at least one parameter for the type of order graphically represented by the icon;

an icon identifier configured to select a subset of icons from the icon library based on types of orders available at a connected electronic exchange;

a graphical user interface having;

a first value axis having a first plurality of value levels, each value level of the plurality of value levels associated with a price of a first tradeable object traded at a first electronic exchange and a second value axis having a second plurality of value levels, each associated with a price of a second tradeable object traded at a second electronic exchange;

an input device configured for selecting and moving;

a first order icon relative to a first location of the first value axis to graphically represent a state of a first order for the first tradeable object and a first price for the first order,

a second order icon relative to a second location of the second value axis to graphically represent a state of a second order for the second tradeable object and a second price for the second order, where selecting and moving the second order icon creates a trading strategy including the second order and the first order; and

a graphical indicator between the first order icon and the second order icon graphically identifying the trading strategy including the first order and the second order.