Match-and-swap marketplace
AssigneeTullett Liberty Inc.
InventorsVinayek K. Singh, Marshall G. Flax, Gurdeep S. Malik
Life of this patent
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Abstract
A number of orders are received from a number of participants to buy and/or sell a number of products. Each order is a unilateral order from one of the participants and identifies a number of units of one of the products to buy or sell. Swap prices are set for the products. The units of the orders are matched based on constrained net activity for the participants and the products to maximize a number of units matched to obtain matched orders and unmatched orders. The matching is independent of the swap prices.
Claims32
A method for matching orders comprising the steps of:
- receiving a plurality of orders from a plurality of participants to buy and/or sell a plurality of products, each order being a unilateral order from one of said participants identifying a number of units of one of said products to buy or sell;
- setting swap prices for said products;
- and
- matching units of said orders based on constrained net activity for said participants and said products to maximize a number of units matched to obtain matched orders and unmatched orders, said matching independent of said swap prices.
A system for matching orders comprising:
- means for receiving a plurality of orders from a plurality of participants to buy and/or sell a plurality of products, each order being a unilateral order from one of said participants identifying a number of units of one of said products to buy or sell;
- means for setting swap prices for said products;
- and
- means for matching units of said orders based on constrained net activity for said participants and said products to maximize a volume of units matched to obtain matched orders and unmatched orders, said matching independent of said swap prices.
Dependencies are inferred from the claim text.