Distributed internet multicast system for the stock market

A distributed multicast architecture for equity markets comprising a primary source and a plurality of primary receivers, said primary source and receivers being intercontinentally distributed and using a timed reliable multicast protocol characterized by a periodic token passing message, at least one primary receiver being logically connected to a plurality of secondary receivers of a geographic region.

A reliable multicast protocol comprising the step of periodically transmitting a token passing message after a periodic delay sufficient for receivers to receive a data message.

A method of distributing a multicast stock ticker, the method for use in a network comprising a primary token loop including a primary source and primary receivers distributed intercontinentally utilizing a timed reliable multicast protocol, the method including the steps of periodically transmitting a token passing message within the primary token loop and a primary receiver remulticasting the multicast stock ticker to at least one user receiver within a given region at the same time as another primary receiver of another region.

A method of sequencing offers to one of buy or sell equities, the method for use in a network comprising a primary token loop including a primary source and primary receivers distributed intercontinentally, the method comprising the steps at said primary source of receiving credentials from an offering source that said offering source one of owns the equities or possesses the funds to obtain equities to be bought and of periodically passing a token around said primary token loop, one of said offers to buy or sell equities having no greater access to a trading floor than another.

A reformation server for use in a timed reliable multicast protocol network coupled to a local multicast protocol network, the reformation server for determining, responsive to a failed receiver of said timed reliable multicast protocol network, that said receiver has failed and reforming a token loop wherein tokens are passed periodically excluding said failed receiver.