Dynamic keyboard for trading
First Claim
Patent Images
1. An apparatus comprising:
- a memory having logic stored thereon; and
a keyboard comprising;
a first key comprising a respective Liquid Crystal Display (“
LCD”
) configured to display to a user of the keyboard a respective price, wherein the first key is selectable by the user for submitting the price displayed by the first key;
a second key comprising a respective LCD configured to display to the user of the keyboard a respective price, wherein the second key is selectable by the user for submitting the price displayed by the second key;
a buy key selectable by the user of the keyboard for submitting a buy command; and
a sell key selectable by the user of the keyboard for submitting a sell command; and
wherein the logic, when executed by at least one processor, directs the at least one processor to;
receive from a server a bid price available in a market for a financial instrument;
cause the first key to display to the user of the keyboard the bid price;
receive from the server an offer price available in the market for the financial instrument;
cause the second key to display to the user of the keyboard the offer price;
in response to a change in bid prices available in the market for the financial instrument, cause the price displayed by the first key to change to one of the available bid prices;
in response to a change in offer prices available in the market for the financial instrument, cause the price displayed by the second key to change to one of the available offer prices;
determine that the user of the keyboard has;
i) selected the first key, andii) selected the sell key;
in response to determining that the user of the keyboard has selected the sell key, communicate a sell command for the financial instrument to the server, wherein the sell command comprises a price that is based at least in part on a bid price displayed by the first key when selected by the user;
determine that the user of the keyboard has;
i) selected the second key, andii) selected the buy key; and
in response to determining that the user of the keyboard has selected the buy key, communicate a buy command for the financial instrument to the server, wherein the buy command comprises a price that is based at least in part on an offer price displayed by the second key when selected by the user.
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Abstract
Data processing systems and methods for managing transactions in auction-based trading of specialized items such as fixed income instruments are presented. The data processing system provides a highly structured trading protocol implemented through a sequence of trading paradigms. The system employs a distributed computer processing network linking together a plurality of commonly configured program-controlled workstations. The protocol and its program-controlling logic improves trading efficiency, rewards market Makers, and fairly distributes market opportunity to system users.
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Citations
38 Claims
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1. An apparatus comprising:
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a memory having logic stored thereon; and a keyboard comprising; a first key comprising a respective Liquid Crystal Display (“
LCD”
) configured to display to a user of the keyboard a respective price, wherein the first key is selectable by the user for submitting the price displayed by the first key;a second key comprising a respective LCD configured to display to the user of the keyboard a respective price, wherein the second key is selectable by the user for submitting the price displayed by the second key; a buy key selectable by the user of the keyboard for submitting a buy command; and a sell key selectable by the user of the keyboard for submitting a sell command; and wherein the logic, when executed by at least one processor, directs the at least one processor to; receive from a server a bid price available in a market for a financial instrument; cause the first key to display to the user of the keyboard the bid price; receive from the server an offer price available in the market for the financial instrument; cause the second key to display to the user of the keyboard the offer price; in response to a change in bid prices available in the market for the financial instrument, cause the price displayed by the first key to change to one of the available bid prices; in response to a change in offer prices available in the market for the financial instrument, cause the price displayed by the second key to change to one of the available offer prices; determine that the user of the keyboard has; i) selected the first key, and ii) selected the sell key; in response to determining that the user of the keyboard has selected the sell key, communicate a sell command for the financial instrument to the server, wherein the sell command comprises a price that is based at least in part on a bid price displayed by the first key when selected by the user; determine that the user of the keyboard has; i) selected the second key, and ii) selected the buy key; and in response to determining that the user of the keyboard has selected the buy key, communicate a buy command for the financial instrument to the server, wherein the buy command comprises a price that is based at least in part on an offer price displayed by the second key when selected by the user. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38)
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Specification