Security transaction matching
AssigneeNasdaq, Inc.
InventorsJohn T. Hughes JR., Bruce E. Friedman
Life of this patent
Estimating the term…
Abstract
A securities processor includes non-volatile storage, a first-in-first-out queue maintained in the non-volatile storage to store events, a random access memory, and an order book maintained in the random access memory to store one or more events corresponding to quotes or outstanding orders related to a security. A matching process receives the events from the queue, determines whether the event can be matched with a contra-side event stored in the order book, and executes a transaction between the received event and a matched contra side event if a match is found.
Claims26
An apparatus comprising:
- non-volatile storage;
- a first-in-first-out queue maintained in the non-volatile storage for storing a set of events that signals a matching process that matches orders or quotes to complete a transaction involving a security.
A securities processor comprising:
- non-volatile storage;
- a first-in-first-out queue maintained in the non-volatile storage to store events;
- random access memory;
- an order book maintained in the random access memory to store one or more events corresponding to quotes or outstanding orders related to a security;
- and
- a matching process to receive the events from the queue, to determine whether the event can be matched with a contra-side event stored in the order book, and to execute a transaction between the received event and a matched contra side event if a match is found.
A method comprising:
- providing a queue in a non-volatile storage;
- storing events in the queue, the events including transactions related to buying or selling a security;
- providing an order book that stores orders and/or quotes to buy and/or sell the security;
- retrieving an event that is stored in the queue;
- and
- determining whether the event can be matched with a contra-side event related to the security to execute a transaction between the received event and a matched contra side event for the security if a match is found.
Dependencies are inferred from the claim text.