System and Method for Displaying Trade Information for Electronic Trading Exchange

• US 20100299280A1
• Filed: 05/19/2009
• Published: 11/25/2010
• Est. Priority Date: 05/19/2009
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Lane, Richard, Unetich, Michael
• Granted Patent: US 8,744,945 B2
• Time in Patent Office: Days
• US Class Current: 705/36.00R
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• 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 displaying trade information is disclosed. The method includes receiving from a host exchange a plurality of trade notifications, each trade notification corresponding to an executed trade, and for each executed trade of interest, determining whether the executed trade belongs in an aggregated set with one or more other executed trades. All executed trades in an aggregated set are for the same associated tradable object, have traded at the same associated trade price, and have been executed within a predetermined time period of each other. Aggregated sets are displayed a user display with an associated aggregated quantity, and the remaining executed trades of interest are also displayed. Trades are displayed using an associated indicator for indicating whether the corresponding executed trade or aggregated trade traded on the bid side or on the offer side of the market, and which indicates whether additional volume is available at the associated trade price.

Claims

1. A method for displaying trade information, the method comprising:

receiving from a host exchange a plurality of trade notifications, each trade notification corresponding to an executed trade and including an associated identification of the tradable object traded, an associated trade price, an associated trade quantity, and an associated trade execution time,

for each executed trade of interest, determining whether the executed trade belongs in an aggregated set with one or more other executed trades, wherein all executed trades in an aggregated set are for the same associated tradable object, have traded at the same associated trade price, and have been executed within a predetermined time period of each other,

for each aggregated set, displaying on a user display the corresponding executed trades in the set as a single aggregated trade with the associated identification of the tradable object traded, the associated trade price, and an associated aggregated quantity, and

for each executed trade of interest not in an aggregated set, displaying on the user display the associated identification of the tradable object traded, the associated trade price, and the associated trade quantity.

2. The method of claim 1, further wherein all executed trades in the aggregated set have been executed within the predetermined time period without an intervening executed trade of a different tradable object.

3. The method of claim 2, further wherein all executed trades in the aggregated set have occurred on the same bid or offer side of the market.

4. The method of claim 1, wherein an aggregated trade or an executed trade not in an aggregated set is not displayed if the associated aggregated or trade quantity is less than a predetermined amount.

5. The method of claim 1, wherein each displayed trade includes an associated visual indicator for indicating whether it traded on the bid or offer side of the market.

6. The method of claim 5, wherein the associated visual indicator is color.

7. The method of claim 6, wherein the associated color for each displayed trade further indicates whether additional volume exists at the associated trade price.

8. The method of claim 7, wherein if no additional volume exists at the associated trade price, the associated color is lighter compared to when additional volume is available.

9. The method of claim 1, wherein the displayed trades are displayed on the user display as they occur.

10. The method of claim 9, wherein when the user display is full, displayed trades corresponding to more recent trades replace less recent trades.

11. A method for displaying trade information, the method comprising:

receiving from a host exchange a plurality of trade notifications, each trade notification corresponding to an executed trade and including an associated identification of the tradable object traded, an associated trade price, an associated trade quantity, and an associated trade execution time,

receiving from a host exchange a plurality of bid and offer notifications, each bid or offer notification corresponding to a respective buy or sell order and including an associated identification of the tradable object, an associated bid or offer price, and an associated bid or offer quantity,

for each executed trade of interest, comparing the associated trade price to at least one of a highest bid price and a lowest offer price corresponding to the associated tradable object traded and existing at the associated trade execution time to determine whether the executed trade occurred on a bid side or on an offer side of the market, and

for each executed trade of interest, displaying on a user display the associated identification of the tradable object traded, the associated trade price, and the associated trade quantity, wherein each executed trade is displayed using an associated indicator for indicating whether it traded on the bid side or on the offer side of the market.

12. The method of claim 11, wherein the associated indicator is a visual indicator.

13. The method of claim 12, wherein the associated visual indicator is color.

14. The method of claim 11, wherein the associated indicator for each displayed trade further indicates whether additional volume exists at the associated trade price.

15. A method for displaying trade information, the method comprising:

receiving from a host exchange a plurality of trade notifications, each trade notification corresponding to an executed trade and including an associated identification of the tradable object traded, an associated trade price, an associated trade quantity, and an associated trade execution time,

receiving from a host exchange a plurality of bid and offer notifications, each bid or offer notification corresponding to a respective buy or sell order and including an associated identification of the tradable object, and associated bid or offer price, and an associated bid or offer quantity,

for each executed trade of interest, comparing the associated trade price to at least one of a highest bid price and a lowest offer price corresponding to the tradable object traded and existing at the associated trade execution time to determine whether the executed trade occurred on a bid side or on an offer side of the market,

for each executed trade of interest, identifying any other executed trades which together form an aggregated set, wherein executed trades in the aggregated set are for the same tradable object, have the same associated trade price, have been executed within a predetermined time period of each other without an intervening reported trade, and occurred on the same bid or offer side of the market,

for each aggregated set, displaying on a user display the corresponding executed trades in the set as a single aggregated trade with the associated identification of the tradable object traded, the associated trade price, and an associated aggregated quantity, and

for each executed trade of interest not in an aggregated set, displaying on the user display that executed trade with the associated identification of the tradable object traded, the associated trade price, and the associated trade quantity,

wherein each displayed trade is displayed using an associated indicator for indicating whether the corresponding executed trade or aggregated trade traded on the bid side or on the offer side of the market.

16. The method of claim 15, wherein trades are not displayed if the associated quantity is less than a predetermined amount.

17. The method of claim 15, wherein the associated indicator for each displayed trade further indicates whether additional volume exists at the associated trade price.

18. The method of claim 17, wherein the associated indicator is color.

19. A trader system for displaying trade information, the system comprising:

a user device for inputting buy and sell orders and user preferences including which tradable objects are of interest,

a processor running a trading application, wherein the trading application for each executed trade of interest, operates to compare an associated trade price to at least one of a highest bid price and a lowest offer price corresponding to the tradable object traded and existing at the associated trade execution time to determine whether the executed trade occurred on a bid side or on an offer side of the market, and for each executed trade of interest, to identify any other executed trades which together form an aggregated set, wherein executed trades in the aggregated set are for the same tradable object, have the same associated trade price, have been executed within a predetermined time period of each other without an intervening reported trade, and occurred on the same bid or offer side of the market, and

a display for displaying trade information, wherein for each aggregated set, the corresponding executed trades in the set are displayed as a single aggregated trade with an associated identification of the tradable object traded, an associated trade price, and an associated aggregated quantity, wherein for each executed trade of interest not in an aggregated set, that executed trade is displayed with an associated identification of the tradable object traded, an associated trade price, and an associated trade quantity, and wherein each displayed trade is displayed using an associated visual indicator for indicating whether the corresponding executed trade or aggregated trade traded on the bid side or on the offer side of the market.