Electronic trading system
AssigneeEBS Group Limited
InventorPeter Richard Horsfall
Life of this patent
Estimating the term…
Abstract
An anonymous trading system comprises one or more matching engines, one or more market distributors and one or more trader terminals for input of orders from institutions trading on the system. The trader terminals are connected to the system through bank nodes. A broker terminal is connected through a bank node and enables voice brokers to trade on the system on behalf of client traders. The voice brokers terminal can be configured for any client trader and will display the market view for that trader. Trades in which the broker terminal participates are not concluded until a manual credit check has been performed.
Claims11
1-14. (canceled)
A computerised trading system for trading instruments between parties comprising:
- a plurality of order input terminals for entering order information into the system, the order input terminals including a plurality of trader order input terminals for inputting orders from traders, and at least one broker order input terminal for trading on behalf of a plurality of clients;
- at least one matching engine computer connected to a network for matching bid and offer orders input into the system and for executing deals where orders are matched;
- and
- one or more market distributor computers for distributing order price messages to the order input terminals, the one or more market distributor computers being responsive to the order information and the matching engine computer, wherein trades conducted between trader order input terminals are anonymous as to the parties until completion of a trade, and trades in which the broker order input terminal is a party require disclosure of the parties to the trade prior to completion of the trade.
A computerised trading system for trading instruments between trading parties, comprising:
- a communications network for transmitting electronic messages;
- a plurality of trader order input terminals connected to the communications network, each for inputting orders into the system and for generating electronic orders including bid and/or offer orders and for communication to traders of order information received from other input terminals over the network;
- at least one broker order input terminal connected to the communications network for inputting orders into the system and for generating electronic orders including bid and/or offer orders on behalf of a selected one of a plurality of client traders and for communication to a broker of order information received from other input terminals over the network;
- at least one matching engine computer connected to the network for matching bid and offer orders input into the system from the order input terminals and for executing deals where prices are matched;
- and
- one or more market distributor computers connected to the network for distributing order information to the order input terminals, the order information distributed to the trader order input terminals comprises a subset of the order information distributed to the at least one broker order input terminal, the one or more market distributor computers being responsive to the order information and the matching engine computer.
A computerised trading system for trading instruments between parties including a plurality of order input terminals for inputting bid and offer orders on behalf of traders, a matching engine computer for matching bids and offers input by traders and, where matches are made, for executing deals, and one or more market distributor computers for distributing details of at least a portion of the bids and offers in the market to traders, wherein the order input terminals comprise trader order input terminals and at least one broker order input terminal for entering bids and offers into the system on behalf of traders operating outside the system and wherein the full trading book is distributed to the at least one broker order input terminal.
A computerised trading system for trading instruments between parties including a plurality of order input terminal for inputting bid and offer orders on behalf of traders, a matching engine computer for matching bids and offers input by traders and, where matches are made, for executing deals, and one or more market distributor computers for distributing details of at least a portion of the bids and offers in the market to traders, wherein the order input terminals comprise trader order input terminals and at least one broker order input terminal for entering bids and offers into the system on behalf of traders operating outside the system wherein the trader order input terminals communicate to traders the amount of the market in the instrument being traded that has been input from the at least one broker order input terminal.
A screen display for a trader terminal of an electronic trading system in which electronic orders are input by traders via the trader terminals and by brokers on behalf of third parties via broker terminals, the screen display communicating to the trader order information received from other traders and brokers via a network, the screen further including an indication of the proportion of a given market that has been entered into the system by one or more brokers.
Dependencies are inferred from the claim text.