Patent
Automated securities trading system
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TLDR
In this article, the best obtaining bid and asked prices from a remote data base, covering the ensemble of institutions or others making a market for the relevant securities, are retrieved and the order is executed and appropriate parameters are updated.Abstract:
Data processing based apparatus makes an automated trading market for one or more securities. The system retrieves the best obtaining bid and asked prices from a remote data base, covering the ensemble of institutions or others making a market for the relevant securities. Data characterizing each securities buy/sell order requested by a customer is supplied to the system. The order is qualified for execution by comparing its specifics against predetermined stored parameters. The stored parameters include the operative bid and asked prices, the amount of stock available for customer purchase or sale, and maximum single order size. Once qualified, the order is executed and the appropriate parameters are updated. The system provides inventory (position) control and profit accounting for the market maker. Finally, the system reports the executed trade details to the customer, and to national stock price reporting systems. Upon a change in the quoted price for a security, the system updates all relevant qualification parameters.read more
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References
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Patent
Automated stock exchange
TL;DR: In this article, an automated stock exchange in which a computer matches buy and sell orders for a plurality of stocks is simulated through two stages, the first stage is an order accumulation period which is continuously in operation except for one stock in the second stage.
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TL;DR: In this paper, the authors present an apparatus and method of automatically, anonymously and equitably buying and selling fungible properties between subscribers, which enables institutional investors to communicate anonymously with each other for the purpose of arranging block trades of listed and over-the-counter securities.
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