# US 10,504,182 B2 · User-defined algorithm electronic trading > Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt - Number: US 10,504,182 B2 - Document ID: US10504182B2 - Status: Granted - Kind: B2 - Application number: 16/123,824 - Filed: 2018-09-06 - Published: 2019-01-10 - Granted: 2019-12-10 - Earliest claimed: 2009-10-20 - Assignees: Trading Technologies International, Inc. - Applicants: Trading Technologies International, Inc. - Inventors: Richard Lane; Michael Unetich - Web page: https://patentgrep.com/patent/US10504182B2 ## CPC - G06Q 40/04: Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange - G06F 3/04847: Interaction techniques to control parameter settings, e.g. interaction with sliders or dials - G06Q 40/00: Finance; Insurance; Tax strategies; Processing of corporate or income taxes - G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR - G06F: ELECTRIC DIGITAL DATA PROCESSING (computer systems based on specific computational models G06N) ## Abstract Certain embodiments reduce the risks of traditionally programmed algorithms such as syntax errors, unclear logic, and the need for a non-trader programmer to develop the algorithm as specified by a trader by reducing or eliminating the writing of programming code by a user. Certain embodiments provide building block buttons and an algorithm area to define an algorithm. Certain embodiments provide live evaluation of an expression as the algorithm is being defined. Certain embodiments provide a design canvas area and blocks for designing an algorithm. Certain embodiments provide live feedback for blocks as the algorithm is being designed. Certain embodiments provide for initiating placement of an order to be managed by a selected user-defined trading algorithm from a value axis and for displaying working orders being managed by different user-defined trading algorithms on the value axis. Certain embodiments provide a ranking tool. ## Claims ### Claim 1 A computer readable medium having stored therein instructions executable by a processor, including instructions executable to: display a visual programming design canvas area for a visual programming language; receive commands from a user through the visual programming design canvas area to design a trading algorithm; modify, in response to receiving the commands from the user, an arrangement of a plurality of placed blocks specifying in the visual programming language a definition for the trading algorithm, wherein the arrangement of the plurality of placed blocks includes a connection between an input or output of each block in the plurality of placed blocks and a respective output or input of another block in the plurality of placed blocks, wherein each connection indicates a value for the output should be provided to the corresponding input, wherein the plurality of placed blocks includes a first placed block and a second placed block, wherein the arrangement of the plurality of placed blocks includes a first connection between the first placed block and the second placed block; determine, while receiving the commands from the user, a first live feedback value for the first connection between the first placed block and the second placed block, wherein the first live feedback value is determined based on market data and the definition for the trading algorithm as modified in response to receiving the commands from the user, wherein the first live feedback value is an intermediate value provided for the first connection between the first placed block and the second placed block; display the determined first live feedback value in relation to the first placed block; receive, while receiving the commands from the user, updated market data; determine, while receiving the commands from the user, an updated first live feedback value for the first connection between the first placed block and the second placed block, wherein the updated first live feedback value is determined based on the updated market data and the definition for the trading algorithm as modified in response to receiving the commands from the user; and update the display of the determined first live feedback value based on the updated first live feedback value. ### Claim 2 (depends on 1) The computer readable medium of claim 1, wherein the plurality of placed blocks are selected by the user from a plurality of available blocks. ### Claim 3 (depends on 1) The computer readable medium of claim 1, wherein the first live feedback value is determined for an input of the first placed block. ### Claim 4 (depends on 1) The computer readable medium of claim 1, wherein the first live feedback value is determined for an output of the first placed block. ### Claim 5 (depends on 1) The computer readable medium of claim 1, wherein the market data is received from at least one of: (i) an electronic exchange and (ii) a simulation environment. ### Claim 6 (depends on 1) The computer readable medium of claim 1, wherein first live feedback value is further based on a functionality corresponding to the first placed block. ### Claim 7 (depends on 1) The computer readable medium of claim 1, further including instructions executable to: detect the generation of a discrete event; and display an indicator representing the occurrence of the discrete event. ### Claim 8 (depends on 7) The computer readable medium of claim 7, wherein the indicator includes at least one of: (i) flashing a connection on which the generated discrete event is provided; (ii) an animation of an output on which the generated discrete event is provided; and (iii) an animation on a connection on which the generated discrete event is provided. ### Claim 9 (depends on 1) The computer readable medium of claim 1, further including instructions executable to: determine, while receiving the commands from the user, a second live feedback value for a second connection between the first placed block and a third placed block of the plurality of placed blocks, wherein the second live feedback value is determined based on market data and the definition for the trading algorithm as modified in response to receiving the commands from the user, wherein the second live feedback value is an intermediate value provided for the second connection between the first placed block and the third placed block; and display the determined second live feedback value in relation to the first placed block. ### Claim 10 A system including: a client device, wherein the client device is configured to display a visual programming design canvas area for a visual programming language; wherein the client device is configured to receive commands from a user through the visual programming design canvas area to design a trading algorithm; wherein the client device is configured to modify, in response to receiving the commands from the user, an arrangement of a plurality of placed blocks specifying in the visual programming language a definition for the trading algorithm, wherein the arrangement of the plurality of placed blocks includes a connection between an input or output of each block in the plurality of placed blocks and a respective output or input of another block in the plurality of placed blocks, wherein each connection indicates a value for the output should be provided to the corresponding input, wherein the plurality of placed blocks includes a first placed block and a second placed block, wherein the arrangement of the plurality of placed blocks includes a first connection between the first placed block and the second placed block; wherein the client device is configured to determine, while receiving the commands from the user, a first live feedback value for the first connection between the first placed block and the second placed block, wherein the first live feedback value is determined based on market data and the definition for the trading algorithm as modified in response to receiving the commands from the user, wherein the first live feedback value is an intermediate value provided for the first connection between the first placed block and the second placed block; wherein the client device is configured to display the determined first live feedback value in relation to the first placed block; wherein the client device is configured to receive, while receiving the commands from the user, updated market data; wherein the client device is configured to determine, while receiving the commands from the user, an updated first live feedback value for the first connection between the first placed block and the second placed block, wherein the updated first live feedback value is determined based on the updated market data and the definition for the trading algorithm as modified in response to receiving the commands from the user; and wherein the client device is configured to update the display of the determined first live feedback value based on the updated first live feedback value. ### Claim 11 (depends on 10) The system of claim 10, wherein the plurality of placed blocks are selected by the user from a plurality of available blocks. ### Claim 12 (depends on 10) The system of claim 10, wherein the first live feedback value is determined for an input of the first placed block. ### Claim 13 (depends on 10) The system of claim 10, wherein the first live feedback value is determined for an output of the first placed block. ### Claim 14 (depends on 10) The system of claim 10, wherein the market data is received from at least one of: (i) an electronic exchange and (ii) a simulation environment. ### Claim 15 (depends on 10) The system of claim 10, wherein first live feedback value is further based on a functionality corresponding to the first placed block. ### Claim 16 (depends on 10) The system of claim 10, wherein the client device is configured to detect the generation of a discrete event; and wherein the client device is configured to display an indicator representing the occurrence of the discrete event. ### Claim 17 (depends on 16) The system of claim 16, wherein the indicator includes at least one of: (i) flashing a connection on which the generated discrete event is provided; (ii) an animation of an output on which the generated discrete event is provided; and (iii) an animation on a connection on which the generated discrete event is provided. ### Claim 18 (depends on 10) The system of claim 10, wherein the client device is configured to determine, while receiving the commands from the user, a second live feedback value for a second connection between the first placed block and a third placed block of the plurality of placed blocks, wherein the second live feedback value is determined based on market data and the definition for the trading algorithm as modified in response to receiving the commands from the user, wherein the second live feedback value is an intermediate value provided for the second connection between the first placed block and the third placed block; and wherein the client device is configured to display the determined second live feedback value in relation to the first placed block.