# US 2014/0156490 A1 · System and Method for Management and Analysis of Electronic Trade Orders > Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt - Number: US 2014/0156490 A1 - Document ID: US20140156490A1 - Status: Published application - Kind: A1 - Application number: 14/078,583 - Filed: 2013-11-13 - Published: 2014-06-05 - Earliest claimed: 2007-03-21 - Assignees: Trading Technologies International, Inc. - Applicants: Trading Technologies International, Inc. - Inventors: Alexander D. Deitz; Sagy P. Mintz - Web page: https://patentgrep.com/patent/US20140156490A1 ## CPC - G06Q 40/04: Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange - G06Q 40/00: Finance; Insurance; Tax strategies; Processing of corporate or income taxes - G06Q 40/03: Credit; Loans; Processing thereof - G06Q 40/06: Asset management; Financial planning or analysis - G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR ## Abstract A system and methods are provided for using order descriptor identifiers in relation to orders being used in trading strategies. According to one example method, when a hedge order is submitted upon detecting a fill of another order, the hedge order includes one or more order descriptor identifiers conveying a purpose of the hedge order to a user. The order descriptor identifiers can be used to search for desired orders and perform more effective order management and post trade analysis. ## Claims ### Claim 1 (canceled) ### Claim 2 A system for trade order management in an electronic trading environment, comprising: a computing device, wherein the computing device is configured to detect a predefined event that triggers generation of a trade order to buy or sell a tradeable object at an electronic exchange based on a trading strategy, wherein the electronic exchange comprises a matching process for matching incoming trade orders, wherein the computing device is configured to generate an order message for the trade order to buy or sell a tradeable object at the electronic exchange, the trade order having an order quantity and an order price, wherein the computing device is configured to insert an order descriptor identifier into the generated order message, wherein the order descriptor identifier comprises information that links the trade order to the trading strategy that generated the trade order upon detecting the predefined event, wherein the computing device is configured to send the order message with the order descriptor identifier to the electronic exchange, wherein the order descriptor identifier is accessible by a software application that generated the trade order and other software applications that did not generate the trade order, wherein the computing device is configured to receive an order update related to the trade order from the electronic exchange, wherein the order update comprises the order descriptor identifier, and wherein the computing device is configured to link the order update to the trading strategy based on the order descriptor identifier in the order update. ### Claim 3 (depends on 2) The system of claim 2, wherein the order descriptor identifier comprises information that identifies the trade order as a timed order that was entered upon detecting a time related event. ### Claim 4 (depends on 2) The system of claim 2, wherein the order descriptor identifier comprises information that identifies that the trade order was entered upon detecting a fill of another order associated with the tradeable object or another tradeable object. ### Claim 5 (depends on 2) The system of claim 2, wherein the order descriptor identifier comprises information that identifies a news event that relates to the predefined event. ### Claim 6 (depends on 2) The system of claim 2, wherein the order descriptor identifier comprises information that identifies a condition satisfied by market data provided by the electronic exchange. ### Claim 7 (depends on 2) The system of claim 2, wherein the order descriptor identifier comprises information that identifies the trade order as a hedge trade order. ### Claim 8 (depends on 7) The system of claim 7, wherein the order descriptor identifier comprises information that identifies a fill of another trade order that triggered the step of generating the hedge trade order. ### Claim 9 (depends on 2) The system of claim 2, wherein the order descriptor identifier comprises information that identifies the trading strategy as an automated trading strategy. ### Claim 10 (depends on 2) The system of claim 2, wherein the order descriptor identifier comprises information that identifies the trading strategy as a manual trading strategy. ### Claim 11 (depends on 2) The system of claim 2, wherein the computing device is further configured to monitor the trade order at the electronic exchange using the order descriptor identifier. ### Claim 12 (depends on 11) The system of claim 11, wherein the computing device is further configured to change an order parameter of the trade order pending at the electronic exchange upon detecting another predefined event. ### Claim 13 (depends on 12) The system of claim 12, wherein the order parameter comprises an order price or an order quantity. ### Claim 14 (depends on 11) The system of claim 11, wherein the computing device is further configured to delete the trade order from a matching engine at the electronic exchange upon detecting a predetermined event. ### Claim 15 (depends on 2) The system of claim 2, wherein the computing device is further configured to remove the order descriptor identifier from the order message at an intermediary device before sending the order message from the intermediary device to the electronic exchange. ### Claim 16 (depends on 2) The system of claim 2, wherein the computing device is further configured to use the order descriptor identifier for post trade analysis. ### Claim 17 (depends on 16) The system of claim 16, wherein the trade order comprises a hedge order configured to use a pay-up tick, and wherein the post trade analysis comprises determining a price level at which the hedge order was filled. ### Claim 18 A system for trade order management in an electronic trading environment, comprising: a computing device, wherein the computing device is configured to generate an order message via a first software application for a first trade order to buy or sell a tradeable object at an electronic exchange in response to detecting a fill of a second trade order, the first trade order having an order quantity and an order price, wherein the computing device is configured to insert an order descriptor identifier into the generated order message, wherein the order descriptor identifier comprises information that links the first trade order to the fill of the second trade order, and wherein the computing device is configured to use the order descriptor identifier to create an association between the first trade order and the fill of the second trade order, wherein the order descriptor identifier is accessible by a second software application that is different from the first software application. ### Claim 19 (depends on 18) The system of claim 18, wherein the first trade order and the second trade order are generated based on a trading strategy. ### Claim 20 (depends on 19) The system of claim 19, wherein the computing device is further configured to receive a definition of the trading strategy. ### Claim 21 (depends on 19) The system of claim 19, wherein the order descriptor identifier further comprises information that identifies the trading strategy. ### Claim 22 (depends on 21) The system of claim 21, wherein the order descriptor identifier further comprises information that identifies the trading strategy as an automated trading strategy. ### Claim 23 (depends on 21) The system of claim 21, wherein the order descriptor identifier further comprises information that identifies the trading strategy as a manual trading strategy. ### Claim 24 (depends on 19) The system of claim 19, wherein the trading strategy comprises a spread trading strategy. ### Claim 25 (depends on 18) The system of claim 18, wherein the order descriptor identifier comprises information identifying the first trade order as a hedge order. ### Claim 26 (depends on 18) The system of claim 18, wherein the second trade order is to buy or sell the tradeable object. ### Claim 27 (depends on 18) The system of claim 18, wherein the second trade order is to buy or sell a second tradeable object that is different than the tradeable object. ### Claim 28 (depends on 18) The system of claim 18, wherein the order descriptor identifier is accessible by the first software application. ### Claim 29 (depends on 18) The system of claim 18, wherein the computing device is further configured to send the order message comprising the order descriptor identifier to an electronic exchange.