Two-way wireless system for financial industry transactions

  • US 6,539,362 B1
  • Filed: 09/22/2000
  • Issued: 03/25/2003
  • Est. Priority Date: 09/20/1994
  • Status: Expired due to Term
First Claim
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1. In a two-way wireless system for use on the floor of an exchange, a method for transmitting a data packet from a first individual on the floor of the exchange operating a first device to a second floor broker operating a second handheld device on the floor of the exchange, comprising the steps of:

  • a) assigning a network address to the second floor broker using a badge number, the badge number being uniquely assigned to the second floor broker for use on the floor of the exchange;

    b) identifying to the first device the badge number of the second floor broker to whom the data packet is to be transmitted;

    c) correlating the badge number with an assigned network address of the second hanldheld device carried by the second floor broker to permit transmissions of data packets to the second floor broker on the basis of the identified badge number; and

    d) transmitting the data packet from the first device to the assigned network address of the second handheld device, wherein the data packet contains information sufficient to define one of a quotation, a quote, an order, an execution, and a partial execution.

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