Request for Market Stream
AssigneeChicago Mercantile Exchange Inc.
InventorsFlorentin Bosse, Stephane Rio, Vincent Boilay
Life of this patent
Estimating the term…
Abstract
Systems and methods are provided to implement request for stream functionality (RFS) into the trading environment. A request for stream may be submitted to determine liquidity of a particular financial instrument of interest to a customer. In response to a request for stream, quotes may be submitted by market markers within a predetermined amount of time. In an embodiment, a customer may determine which market makers receive the request for stream. The financial instruments may include Euro denominated interest rate swaps, U.S. denominated interest rate swaps, or OIS interest rate swaps.
Claims20
A method of trading financial instruments between a user and a market maker, the method comprising:
- (a) receiving information regarding a request for stream inquiry, the request for stream inquiry including an order price and indicia of the financial instruments;
- (b) receiving a selection of market makers to receive the request for stream inquiry;
- (c) transmitting a request for stream request to the selected market makers;
- and
- (d) receiving at least one streaming offer from the selected market makers based on the transmitted request for stream request.
A system for trading financial instruments between a user and a market maker, the system comprising:
- (a) an order module configured to receive a request for stream inquiry regarding a financial instrument and transmit a request for stream request to at least one market maker based on the request for stream inquiry;
- and
- (b) a match engine module configured to receive a response from the at least one market maker to the request for stream request and transmit the received response to the user.
A computer-readable medium including computer-executable instructions for causing a computer device to perform the steps comprising:
- (a) receiving information regarding a request for stream inquiry, the request for stream inquiry including an order price and indicia of the financial instruments;
- (b) receiving a selection of market makers to receive the request for stream inquiry;
- (c) transmitting a request for stream request to the selected market makers;
- (d) receiving at least one streaming offer from the selected market makers based on the transmitted request for stream request;
- (e) transmitting the at least one streaming offer to the user;
- and
- (f) completing a transaction based on the at least one streaming offer.
Dependencies are inferred from the claim text.