Systems and methods for conducting derivative trades electronically
AssigneeBlackbird Holdings, Inc.
InventorRichard Raymond May
Life of this patent
Estimating the term…
Abstract
The present invention facilitates efficient negotiations of trade terms and the generation of an electronic trade ticket in the trading of financial instruments. The negotiation process is preferably conducted through a secure online chat program using point-to-point messaging, though the negotiations can take place using the tradition exchanges of phone calls and faxes outside of the confines of an electronic trading system. Once the trade terms have been agreed upon by both parties, then the parties enter an electronic trading system in accordance with the present invention to select the traded financial instrument and generate an electronic trade ticket with can be stored by the trading system and/or the each of the trading parties.
Claims10
A method for generating an electronic trade ticket in an electronic trading system, comprising:
- initiating an electronic chat session between at least two traders to negotiate terms of a transaction of financial instrument;
- receiving trader input into the system indicating a selected financial instrument agreed upon by the traders to transact;
- receiving trader input into the system indicating contract terms defining the transaction of the financial instrument agreed upon by the traders;
- generating an electronic trade ticket for the transaction;
- and
- transmitting the electronic trade ticket to the traders.
A system for generating a trade ticket in an electronic trading system, comprising:
- an electronic trading system for financial instruments that conducts electronic trades using, at least in part, a trade mechanism;
- and
- an electronic ticketing application that generates electronic trade tickets for transactions negotiated outside of the trade mechanism of the electronic trading system by at least two traders.
Dependencies are inferred from the claim text.