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US 10,540,718 B2Granted
Cover-OCO for legged order
AssigneeTrading Technologies International, Inc.
InventorPatrick J. Rooney
Life of this patent
Estimating the term…
Abstract
A position associated with a synthetic spread order may be managed where a status of a synthetic spread order is identified as legged. The synthetic spread order may have at least one child hedge order pending at an electronic exchange and in response, a bracket order is submitted to an electronic exchange for the tradable object associated with a filled leg of the synthetic spread. In response to execution of the bracket order, the child hedge order may be cancelled.
Claims11
A method comprising:
- receiving, via a data receiver of an electronic computing device, market data identifying an inside market for a first tradable object and a second tradable object;
- receiving, via a graphical user interface of the electronic computing device, a user request to trade a synthetic spread order for a quantity of a synthetic spread, the synthetic spread including a quoting leg for a first tradable object and a hedge leg for a second tradable object;
- and
- in response to receiving the user request via the graphical user interface, submitting, via the electronic computing device to an electronic exchange, a quoting order for the first tradable object;
- in response to receiving at the electronic computing device confirmation of a fill of at least part of the quoting order, submitting, via the electronic computing device to the electronic exchange, a hedge order for the second tradable object;
- determining, via the electronic computing device, whether the synthetic spread order has a filled leg and an unfilled leg, where the hedge order is unfilled and the quoting order is filled;
- determining, via the electronic computing device, whether the inside market for the first tradable object has moved a predetermined amount according to monitoring the market data for the inside market for the first tradable object;
- in response to determining that the inside market has moved the predetermined amount and that the synthetic spread order has the filled leg and the unfilled leg, submitting, via the electronic computing device to the electronic exchange, a bracket order for the first tradable object;
- and
- displaying, via the graphical user interface, an order descriptor representing a status of the synthetic spread order.
7 more elements
Dependencies are inferred from the claim text.