Systems and Methods for Using a Stacker Order in an Electronic Trading Environment
AssigneeTrading Technologies International, Inc.
InventorsPatricia A. Messina, Bharat Mittal
Life of this patent
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Abstract
A stacker order type is provided for a spread trading strategy. According to an example embodiment, when a stacker order is enter to buy or sell a spread at a desired spread price, a trading tool dynamically determines a plurality of desired spread prices at which to work the spread. To work the multiple desired spread prices, the trading tool may then enter a quoting order for each desired spread price. As leaned on market prices change, one or more of the quoting orders may be re-assigned between the desired spread prices to minimize re-quoting.
Claims24
A method for executing a spread trading strategy, comprising:
- identifying a plurality of desired spread prices to buy or sell a spread trading strategy;
- submitting a quoting order to buy or sell the first tradeable object for each desired spread price, wherein the quoting order is submitted at a price determined based on one of the plurality of desired spread prices;
- assigning the plurality of quoting order to the plurality of desired spread prices;
- determining that at least a first quoting order corresponding to a first desired spread price of the plurality of desired spread prices is to be re-priced to a first new price based on a change in market conditions of the second tradeable object;
- determining that a second quoting order corresponding to a second desired spread price of the plurality of desired spread price is pending at the first new price;
- and
- assigning the second quoting order to the first desired spread price.
A computer readable medium having stored therein instructions executable by a processor, wherein the instructions are executable to:
- identify a plurality of desired spread prices to buy or sell a spread trading strategy;
- submitting a quoting order to buy or sell the first tradeable object for each desired spread price, wherein the quoting order is submitted at a price determined based on one of the plurality of desired spread prices;
- assign the plurality of quoting order to the plurality of desired spread prices;
- determine that at least a first quoting order corresponding to a first desired spread price of the plurality of desired spread prices is to be re-priced to a first new price based on a change in market conditions of the second tradeable object;
- determine that a second quoting order corresponding to a second desired spread price of the plurality of desired spread price is pending at the first new price;
- and
- assign the second quoting order to the first desired spread price.
Dependencies are inferred from the claim text.