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US 2011/0238554 A1Published application
System and method for direct client access for management of securities transactions
OwnerMaier J. Tarlowinventor
Life of this patent
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Abstract
A computer implemented system and method provides for transmission of a parent shell order of which no portion is placed for execution until a respective child order is obtained. The shell order can be received from a device of an exchange member on behalf of a member's customer and the child orders can be received directly from a device operated by the customer.
Claims22
A computer-implemented method, comprising:
- storing a predefined algorithm;
- obtaining, by a computer processor, a parent order identifying the predefined algorithm;
- responsive to the parent order, in accordance with the stored predefined algorithm, recording, by the processor, the parent order without placing the parent order for execution;
- obtaining, by the processor, a child order identifying the parent order;
- and
- responsive to the child order, placing, by the processor, a first portion of the parent order for execution;
- wherein, in accordance with the stored predefined algorithm, all portions of the parent order that do not correspond to any child order associated with the parent order remain unexecuted.
4 more elements
A computer-implemented method, comprising:
- obtaining, by a computer processor, a parent order with a placement instruction;
- responsive to the parent order and in accordance with the placement instruction, recording, by the processor, the parent order without placing the parent order for execution;
- obtaining, by the processor, a child order identifying the parent order;
- and
- responsive to the child order, placing, by the processor, a first portion of the parent order for execution;
- wherein, in accordance with the placement instruction, execution of each portion of the parent order is conditional upon receipt of a respective child order associated with the respective portion of the parent order.
3 more elements
A computer-implemented method, comprising:
- transmitting, by a computer processor, a parent order and an associated non-execution instruction, on behalf of a customer to a server of an order placement entity, the non-execution instruction indicating that the parent order is to be queued without placement of any portion thereof for execution sans a follow-up trigger;
- and
- transmitting, by the computer processor, a child order to the server of the order placement entity, the child order being a follow-up trigger identifying the parent order, a portion of the parent order being placed for execution by the server responsive to the child order;
- wherein, in accordance with the non-execution instruction, none of the parent order is placed for execution prior to receipt by the server of the order placement entity of any follow-up trigger.
1 more element
A computer-implemented method, comprising:
- transmitting, by a computer processor and directly to a server at which a parent security transaction order is recorded, child orders identifying the parent security transaction order, the child orders causing the server to place respective portions of the parent security transaction order for execution;
- wherein, for each portion of the parent security transaction order, placement of the respective portion is conditional upon receipt by the server of a respective child order.
Dependencies are inferred from the claim text.