Securities trading system for consolidation of trading on multiple ECNS and electronic exchanges

  • US 6,278,982 B1
  • Filed: 04/21/1999
  • Issued: 08/21/2001
  • Est. Priority Date: 04/21/1999
  • Status: Active Grant
First Claim
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1. A financial data processing system for securities or commodities for traders which integrates order book information from two or more alternative trading systems comprising:

  • at least two alternative trading systems having different order book information protocols;

    data communication means to receive information from each participating alternative trading system to allow receipt of their order book information in their native order book information protocols;

    converter means to convert order book information of each alternative trading system into a common system order book information protocol;

    integration means for combining the order book information from each alternative trading system data communications means into a single order book;

    means for distributing the resulting combined order book to traders in the common order book information protocol; and

    display means for displaying said order book to traders.

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