Out of Band Credit Control
AssigneeChicago Mercantile Exchange Inc.
InventorsPaul J. Callaway, Michael E. Culhane, II, Sunil K. Cutinho, Frank Kmiec, Ari Studnitzer
Life of this patent
Estimating the term…
Abstract
Systems and method for mediating risks associated with orders in an electronic trading system are provided. A front end component includes a plurality of trading engines that receive orders from traders. A back-end component includes a match system. The system includes a credit control module, which may be located at the back-end (e.g., clearinghouse), front end, a combination thereof, or other location that communicates with the plurality of trading engines. The credit control may monitor aggregate risk parameters for the trading engines and requests credits from trading engines.
Claims20
An apparatus comprising:
- a processor;
- and
- a computer readable medium storing computer-executable instructions that, when executed by the processor, cause the apparatus at least to perform:
- receiving an order from a first trading engine, the first trading engine being associated with a trading volume capacity;
- determining that a number or value of trades placed at the first trading engine exceeds at least a predetermined amount of the trading volume capacity;
- and
- in response to the determining, requesting an increase in credit from a second trading engine.
A method comprising:
- receiving an order from a first trading engine, the first trading engine being associated with a trading volume capacity;
- determining, by a processor, that a number or value of trades placed at the first trading engine exceeds at least a predetermined amount of the trading volume capacity;
- and
- in response to the determining, requesting an increase in credit from a second trading engine.
A method comprising:
- receiving orders from a plurality of trading engines, each of the trading engines being associated with a trading volume capacity;
- determining, by a processor, that a number or value of trades placed at a first of the trading engines exceeds at least a predetermined amount of the corresponding trading volume capacity;
- and
- in response to the determining, requesting an increase in credit from a second of the trading engines.
Dependencies are inferred from the claim text.