Implied market trading system
AssigneesNew York Mercantile Exchange, Inc., International Petroleum Exchange of London, Ltd.
InventorsMatt Morano, Iain West, Kai Neumann
Life of this patent
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Abstract
A computer based trading system implies spread markets from multiple real or implied spread markets. In particular, one aspect of the invention permits implication of a spread market from a combination of inter-commodity and inter-calendar spread orders. Furthermore, another aspect of the invention allows use of nontradeable implied or bridge markets to combine with other implied or real markets to create further tradeable implied markets. The method described herein thereby permits the creation of all implied markets that are inherent in the combination of futures, calendar spread and inter-commodity spread real orders.
Claims16
A computer implemented method for trading real and implied orders for futures contracts, the method comprising the steps of:
- storing at least one real order in a computerized trading system;
- storing at least one implied order in the computerized trading system;
- prioritizing the stored orders based on the type of order in the computerized trading system;
- and
- comparing the stored orders in the computerized trading system based on order priority to find a matched trade.
Dependencies are inferred from the claim text.