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Patent

Systems and methods for providing price improvement in an active trading market

Michael Sweeting
TLDR
In this article, the authors present a system and methods for providing traders an opportunity to improve prices for an item trading in an active market by submitting orders that improve on the price of the current market price of an item.
Abstract: 
Systems and methods for providing traders an opportunity to improve prices for an item trading in an active market are provided. After a trader HITS or LIFTS a bid or offer, a market becomes active. When the market is active, traders can submit orders that improve on the price of the current market price of an item. Whenever a price improvement order is currently available for use in a transaction order, a price improvement indicator is displayed to indicate to other traders that price improvement is occurring. When a price improvement order is used to fill a transaction order, a portion of the difference between the market price and the price improvement price may be divided between the trader associated with the price improvement order, the trader associated with the transaction order, and the system host.

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Citations
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Patent

Apparatus, method and system for providing an electronic marketplace for trading credit default swaps and other financial instruments, including a trade management service system

Michael Gooch, +1 more
TL;DR: A method and system for providing integrated credit derivative brokerage services, the method or system including or using a credit trading arrangement, a credit trade capture arrangement, trade management service arrangement, and a central repository arrangement to store market data and shared reference data.
Patent

Price improvement processor for electronic trading of financial instruments

Thomas Peterffy, +2 more
TL;DR: In this article, a price improvement processor is proposed to effectuate more rapid matching of bids and offers of financial instruments by conducting a rapid automated auction in which certain market participants may provide price improvement in increments that are finer than the prevailing standard minimum price variation and are provided a certain allocation as an incentive for such price improvements.
Patent

System and method for managing trading orders received from market makers

Nigel J. Renton, +1 more
TL;DR: In this article, a method of managing trading is provided, where a first offer for a particular instrument in a particular market is received from a first market maker at first offer price (122).
Patent

Systems and methods for controlling traders from manipulating electronic trading markets

Andrew C. Gilbert, +2 more
TL;DR: In this article, the authors provide a more fair and efficient way of executing electronic trades by using a timing method to prevent a trader from canceling or replacing a bid or offer for a period of time.
Patent

System and method for controlling the disclosure of a trading order

Thomas J. Daley, +1 more
TL;DR: In this paper, a system for controlling the disclosure of a trading order comprises a memory and a processor, where the memory stores disclosure policies associated with market centers and the processor receives trading orders for a trading product that specifies a total quantity of trading product and a maximum disclosure quantity of the trading product.
References
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Patent

Method and apparatus for funds and credit line transfers

Jay S. Walker, +2 more
TL;DR: A financial tender transfer system as discussed by the authors allows a transferor to transfer credit or make payment to a transferee by debiting the credit card of the transferor and crediting it with the credit cards of the transferee.
Patent

Financial advisory system

Christopher L. Jones, +7 more
TL;DR: In this paper, return scenarios for optimized portfolio allocations are simulated interactively to facilitate financial product selection, and return scenarios are generated based upon estimated future scenarios of one or more economic factors.
Patent

Automated auction protocol processor

Stuart A. Fraser, +2 more
TL;DR: A data processing system for implementing transaction management of auction-based trading for specialized items such as fixed income instruments is described in this article, where a highly structured trading protocol is implemented through a sequence of trading paradigms.
Patent

User interface for an electronic trading system

Richard Friesen, +1 more
TL;DR: In this paper, a user interface for an electronic trading exchange is provided which allows a remote trader to view in real time bid orders, offer orders, and trades for an item, and optionally one or more sources of contextual data.