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System and method for controlling markets during a stop loss trigger

  • US 9,760,949 B2
  • Filed: 08/22/2014
  • Issued: 09/12/2017
  • Est. Priority Date: 07/25/2003
  • Status: Active Grant
First Claim
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1. A stop-loss computer system that mitigates the effects of a market spike caused by the triggering and the election of a stop order, the stop-loss computer system comprising:

  • a processor and memory coupled therewith;

    an evaluation logic stored on the memory and executable by the processor that monitors stop orders submitted to a trading engine in an automated matching system in real time, the evaluation logic being configured to automatically compare an execution price of a stop order to a first predefined price range;

    a delay logic stored on the memory and executable by the processor that delays the matching of the stop orders submitted to the trading engine when the price of a transaction lies outside of the first predefined price range;

    a pricing logic stored on the memory and executable by the processor that derives an opening price to be used by the trading engine; and

    a timing logic stored on the memory and executable by the processor that measures a time interval used to delay a matching of the stop orders until the opening price is within a second predefined price range.

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