Method of encoding market data and transmitting by radio to a plurality of receivers

• US 5,045,848 A
• Filed: 09/29/1987
• Issued: 09/03/1991
• Est. Priority Date: 04/10/1984
• Status: Expired due to Term

• Current Assignee: ICE Data Services, Inc. (Intercontinental Exchange, Inc.)
• Original Assignee: FNN
• Inventors: Fascenda, Anthony C.
• Primary Examiner(s): Weldon, Ulysses
• Application Number:
  US07/104,563
• Time in Patent Office: 1,435 Days
• Field of Search: 340/825.26, 340/825.27, 340/825.44, 364/408, 375/7, 375/8, 370/43, 370/109, 370/118, 455/53, 455/89
• US Class Current: 340/4.5
• CPC Class Codes: G08B 3/1091 Group calling
• CPC Class Codes: H04L 12/1804 for stock exchange and similar applications

Abstract

A method of encoding stock market data and transmitting such data via radio to a plurality of one-way receivers via an SCA channel on a commercial FM station transmits both a cyclical repetitive loop of all the stocks listed on a particular exchange including parameters of their open, high, low and last prices. During actual trading hours, the current trade values are also inserted on a real-time basis in the loop. The receiver is automatically and immediately updated by means of its storage capacity. To provide a short cycle of operation, data is compressed by dividing the stocks into groups determined by a binary offset from the last price compared to open, high and low and also by the maximum last sale price.

Claims

1. A method of transmitting stock market data for the listed stocks of at least one stock exchange including stock symbol, and last, open, high and low prices and transmitting such data in the form of bits via radio to a plurality of one way receivers comprising the following steps:

encoding said stock data before transmission to limit the number of said bits;

said encoding includes the steps of selecting a group of stocks of a said exchange having last prices less than $64 or $2^x where x is an integer 6 or greater and having offsets of less than $4 or $2^y where y is an integer 2 or greater, said offsets including the transmitting to said receivers on a repetitive cyclical basis said data for all listed stocks of said exchange in a single cycle;

during trading hours of a predetermined stock exchange inserting in said cylindrical data said last stock prices substantially as they occur and are reported during transmission of a cycle of said cyclical data;

receiving via radio and storing in said receiver stock data, transmitted on said cyclical basis, for selected stocks and updating during trading hours said stored data with said inserted data being received;

and immediately displaying, in response to the command of a user of said one-way receiver, a said last stock price of a predetermined said listed stock which is the result of sale of said stock having just occurred in time or having occurred previously, which ever is the case.

2. A method as in claim 1 where volume data is encoded by a binary 0-99 code and a 2 bit code for additional orders of magnitude.

3. A method as in claim 1 where said data is stored by said receiver in said encoded format and including the steps of processing said data for display only.

4. A method as in claim 1 where said selection includes the majority of said listed stocks of said exchange.

5. A method as in claim 1 where said last price is in pure binary except for the fraction.

6. A method as in claim 1 where said open offset includes a sign bit.

7. A method as in claim 1 where the eighths of both said last stock prices and said offsets are represented by a 3 bit code.

8. A method of transmitting in the form of bits stock market data for the listed stocks of at least one stock exchange including stock symbol, and last, open, high and low prices and transmitting such data via radio to a plurality of one-way receivers comprising the following steps:

encoding before transmission said stock market data by limiting the number of said bits including the steps of determining high, low, and open offsets from the last price, said offsets including the difference between low, open and high prices with respect to said last price, and dividing said stocks into at least two groups with a dividing line of all offsets less than $2^y where y is an integer 2 or greater such first group below said dividing line including the majority of listed stocks of said exchange;

and transmitting via radio said high, low and open prices of said first group of stocks to said receivers with offsets of y bits.

9. A method as in claim 8 where said dividing line includes said last price of less than $2^x where x is an integer 6 or greater and where said last price of the group below said dividing line, is transmitted by x bits.

10. A method of transmitting stock market data for the listed stocks of at least one stock exchange including stock symbol, and last, open, high and low prices and transmitting such data via radio to a plurality of one way receivers comprising the following steps:

transmitting to said receivers on a repetitive cyclical basis said data for all listed stocks of said exchange in a single cycle;

during trading hours of a predetermined stock exchange inserting in said cyclical data said last stock prices substantially as they occur and are reported during transmission of a cycle of said cyclical data;

receiving via radio and storing in said receiver stock data, transmitted on said cyclical basis, for selected stocks and updating during trading hours said stored data with said inserted data being received;

skipping said repetitive cyclic transmission of a stock when at least stock price of such stock has previously been inserted in said cycle;

and immediately displaying, in response to the command of a user of said one-way receiver, a said last stock price of a predetermined said listed stock which is the result of sale of said stock having just occurred in time or having occurred previously, which ever is the case.