Systems, methods, and media for placing orders to trade securities
AssigneeBNY ConvergEx Group, LLC
InventorsSrikant Krishna, Biquan Lin
Life of this patent
Estimating the term…
Abstract
Systems, methods, and media for placing orders to trade a security are provided. In some embodiments, for example, methods comprise: receiving an order to trade a security; determining an execution rate for the order, determining a darkness threshold for the order; selecting one or more routes for one or more working orders of the order based on at least the darkness threshold; scoring the one or more routes; allocating size to the one or more working orders based on the scoring and the execution rate; creating the one or more working orders; and sending the one or more working orders to the one or more routes for execution.
Claims51
A method for placing orders to trade a security, comprising:
- receiving an order to trade a security;
- determining an execution rate for the order;
- determining a darkness threshold for the order;
- selecting one or more routes for one or more working orders of the order based on at least the darkness threshold;
- scoring the one or more routes;
- allocating size to the one or more working orders based on the scoring and the execution rate;
- creating the one or more working orders;
- and
- sending the one or more working orders to the one or more routes for execution.
A system for placing orders to trade a security, comprising:
- at least one processor that:
- receives an order to trade a security;
- determines an execution rate for the order;
- determines a darkness threshold for the order;
- selects one or more routes for one or more working orders of the order based on at least the darkness threshold;
- scores the one or more routes;
- allocates size to the one or more working orders based on the scoring and the execution rate;
- creates the one or more working orders;
- and
- sends the one or more working orders to the one or more routes for execution.
A computer-readable medium containing computer-executable instructions that, when executed by a processor, cause the processor to perform a method for placing orders to trade a security, the method comprising:
- receiving an order to trade a security;
- determining an execution rate for the order;
- determining a darkness threshold for the order;
- selecting one or more routes for one or more working orders of the order based on at least the darkness threshold;
- scoring the one or more routes;
- allocating size to the one or more working orders based on the scoring and the execution rate;
- creating the one or more working orders;
- and
- sending the one or more working orders to the one or more routes for execution.
Dependencies are inferred from the claim text.