User interface for semi-fungible trading

• US 7,584,144 B2
• Filed: 05/03/2006
• Issued: 09/01/2009
• Est. Priority Date: 04/09/1999
• Status: Expired due to Fees

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Klizas, Mark C., Friesen, Richard W.
• Primary Examiner(s): PATEL, JAGDISH
• Application Number:
  US11/418,474
• Publication Number:
  US 20060259413A1
• Time in Patent Office: 1,217 Days
• Field of Search: 705/37, 705/35
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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 user interface and method are disclosed for providing trading between a plurality of semi-fungible and non-fungible goods. A plurality of book axes are displayed in a single interface, each book axis representing a market for a particular good. Orders for goods are displayed as marks on the axes to display the relative value of the orders. A value axis is provided that relates the value of the goods from each market to each other. Thus, a single interface provides the means to relate the values of different semi-fungible goods. The value axis may be displayed in units of price, or a custom value designated by a user or pre-defined by the interface. Quantity information is represented in the interface through the display of a dimension of an order icon. Precise information about each order is displayed either in a panel view or a pop-up window.

Claims

1. A method for electronic trading of goods, the method comprising:

generating a first axis for a first good according to first market data via a computing device, the first market data received at the computing device from an electronic exchange for the first good;

generating a second axis for a second good according to second market data via the computing device, the second market data received at the computing device from an electronic exchange for the second good;

displaying a first axis associated with a first good via a visual output device associated with the computing device, the first axis having a plurality of value levels each associated with a value for the first good;

displaying a second axis associated with a second good via the visual output device, the second axis having a plurality of value levels each associated with a value for the first good, the second good having a value relationship with the first good;

generating at least a first indicator for a first good according to first market data via a computing device, the first indicator representing at least a quantity of an open order of the first good according to the first market data;

dynamically displaying the at least a first indicator via the visual output device relative to one of the plurality of value levels of a first axis;

generating at least a second indicator for a second good according to second market data via a computing device, the second indicator representing at least a quantity of an open order of the second good according to the second market data;

dynamically displaying at least a second indicator via the visual output device relative to one of the plurality of value levels of a second axis, the second indicator representing at least a quantity of an open order of the second good;

generating a common value axis relative to the first axis and the second axis via the computing device, the common value axis having a plurality of common value levels each aligned with a respective value level of the first axis and the second axis and representing a common value of the first and second goods;

displaying the common value axis relative to the first axis and the second axis via the visual output device;

receiving a user-initiated command via an input device of the computing device, the user-initiated command selecting a value of an order for any one of the first good and the second good according to a user-selected location of any one of the first axis and the second axis; and

in response to the user-initiated command, generating and submitting the order on behalf of a user via the computing device.

2. The method of claim 1 where the first good and the second good are related according to a value relationship.

3. The method of claim 2 where the first good and the second good have a price that varies according to at least one variable.

4. The method of claim 3 where the at least one variable is selected from quantity, quality, delivery date, expiration date, delivery points, guarantor, contract variable, length of contract, life of product, and combinations thereof.

5. The method of claim 1 further comprising determining the plurality of common values of the common value axis according to a predetermined formula.

6. The method of claim 5 where the predetermined formula is any one of the Black-Scholes model and the Cox-Ross model.

7. The method of claim 1 further comprising displaying an action line relative to the first axis and the second axis, the action line movable relative to a value of a second unit.

8. The method of claim 1 where the first and second goods are semi-fungible.

9. The method of claim 1 where at least the first good is selected from the group of options, fixed income, cash commodities, futures, foreign exchange, transportation, services, and combinations thereof.

10. The method of claim 1 where the first and second indicators graphically represent the order quantity for the associated order.

11. The method of claim 1 further comprising:

receiving a user command via a user input device to select any one of the first and second indicators;

moving the selected indicator in response to the user command; and

modifying the open order represented by the selected indicator in response to the user command.

12. The method of claim 1 further comprising cancelling an open order represented in response to the user command.

13. The method of claim 1 where the first axis and the second axis both comprise additional indicators representing order quantities of open orders.

14. A method for displaying trading information, comprising:

generating a plurality of axes for a plurality of goods via a computing device, each of the plurality of axes for a respective one of the plurality of goods and being generated according to market data received at the computing device from an exchange for the respective one of the plurality of goods;

generating a common value axis relative to the plurality of axes via the computing device, the common value axis having a plurality of common value levels each aligned with a respective value level of the plurality of axes and representing a common value of each respective one of the plurality of goods;

displaying the plurality of axes in relation to common value axis via a visual display associated with the computing device, each of the plurality of axes having a plurality of value levels each representing a common value of the common value axis;

dynamically displaying indicators via the visual display, each indicator being displayed relative to at least one of the plurality of value levels of an associated axis of the plurality of axes and graphically representing a size of a pending order for the good associated with the associated axis of the plurality of axes;

receiving a user-initiated command via an input device of the computing device, the user-initiated command selecting a value of an order for any one of the plurality of goods according to a user-selected location of any one of the plurality of axes; and

in response to the user-initiated command, generating and submitting the order on behalf of a user via the computing device.

15. The method of claim 14, where the indicators graphically represent a type of the order.

16. The method of claim 15, where the common value of the common value axis comprises implied volatility.

17. A method for displaying market information for tradeable items, comprising:

electronically generating a common value axis having a plurality of value levels each representing a normalized value of a plurality of tradeable items via a computing device;

displaying the common value axis via an interface of the computing device;

displaying indicators for the plurality tradeable items relative to the plurality of value levels of the common value axis via the interface, where a location of an indicator relative to the value level is derived from a price for the tradeable item according to market data received at the computing device from an exchange for the tradeable item;

receiving a user-initiated command via an input device of the computing device, the user-initiated command selecting a value of an order for a selected one of the plurality of tradeable items according to a user-location for a selected book axis for the selected one of the plurality of tradeable items; and

in response to the user-initiated command, generating and submitting the order on behalf of a user via the computing device.

18. The method of claim 17, wherein the normalized value represents volatility.

19. The method of claim 17, where the indicators graphically represent a type of the order.