Electronic securities marketplace having integration with order management systems

CAFC
  • US 7,136,834 B1
  • Filed: 04/12/2001
  • Issued: 11/14/2006
  • Est. Priority Date: 10/19/2000
  • Status: Expired due to Term
First Claim
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1. A computer-implemented method for generating non-binding indications for at least one security comprising:

  • i) accessing, by at least one computer, all records of open orders from a database of an order management system, wherein the order management system database is associated with a trading firm and wherein the order management system is coupled to at least one workstation utilized by the trading firm and wherein the order management system database comprises at least the following fields;

    (a) security name, symbol or identifier,(b) transaction type,(c) total order size,(d) quantity of the security placed elsewhere, and(e) quantity of the security executed;

    ii) generating, by at least one computer, all non-binding indications from the accessed records of orders that are suitable for transmission to at least one electronic marketplace, each non-binding indication comprising security name, symbol or identifier, the transaction type, and an available quantity, such available quantity being determined by the accessed records;

    iii) sending the suitable non-binding indications to the at least one electronic marketplace;

    (iv) periodically determining if at least one accessed record of order of the order management system database has changed and, if such accessed record of the order management system database has changed, then subsequently generating, for the changed record of order, at least one updated non-binding indication; and

    (v) if updated, subsequently sending the updated non-binding indication to the at least one electronic marketplace.

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