Automated trading exchange system having integrated quote risk monitoring and integrated quote modification services

CAFC
  • US 8,266,044 B2
  • Filed: 07/07/2011
  • Issued: 09/11/2012
  • Est. Priority Date: 12/30/1999
  • Status: Expired due to Fees
First Claim
Patent Images

1. A system for processing trades of securitized instruments based on security orders and quotes received from client computers, comprising:

  • at least one server computer comprising a memory, and a processor, said server computer configured to perform the steps of;

    receiving orders and quotes, wherein specified ones of said quotes belong to a quote group, and wherein said specified ones of said quotes have associated trading parameters comprising a predefined number of bought or sold contracts relating to said quote group;

    generating a trade by matching said received orders and quotes to previously received orders and quotes;

    storing each of said orders and quotes when a trade is not generated;

    determining whether a quote having associated trading parameters has been filled as a result of the generated trade, and if so, determining a number of contracts that have been bought or sold within said quote group, including the generated trade;

    comparing said number of contracts that have been bought or sold within said quote group with said predefined number of bought or sold contracts relating to said quote group; and

    ,automatically modifying at least one of the remaining specified ones of said quotes in the quote group if said predefined number of bought or sold contracts is exceeded.

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