System and method for automatically distributing a trading order over a range of prices
AssigneeBGC Partners, Inc.
InventorsMichael Sweeting, Dinesh Kerai, Nigel John Renton, Anthony Paul Seeto
Life of this patent
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Abstract
According to one embodiment, a method of managing trading is provided. A trading order intended for a trading exchange is received from a trader, the trading order having an associated trading order price. A group of distributed trading orders is automatically generated based at least on the trading order price and a set of pre-configured distribution parameters associated with the trading order. The group of distributed trading orders is distributed over a multiple price levels. The generated group of distributed trading orders is automatically submitted to the trading exchange.
Claims27
A method of managing electronic trading, comprising:
- receiving, by at least one processor, from a particular trader a trading order for a particular instrument intended for a trading exchange, the trading order having an associated price;
- identifying, by the at least one processor, from a plurality of sets of pre-configured distribution parameters a particular set of distribution parameters for processing the trading order;
- automatically generating, by the at least one processor, a group of distributed trading orders for the instrument distributed over multiple price levels based at least on the trading order price and the identified set of distribution parameters associated with the trading order, each order of the group of distributed trading orders having a respective price that is different from the price of every other order in the group of distributed trading orders, in which each of the group of distributed trading orders comprises a same side as the trading order such that the group of distributed trading orders comprise buy orders if the trading order comprises a buy order and the group of distributed trading orders comprise sell orders if the trading order comprises a sell order;
- and
- automatically submitting, by the at least one processor, the generated group of distributed trading orders to the trading exchange for the particular instrument instead of the trading order.
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An apparatus comprising:
- at least one processor;
- and
- at least one memory in electronic communication with the at least one processor, the at least one memory having instructions stored thereon which, when executed by the at least one processor, direct the at least one processor to:
- receive from a particular trader a trading order for a particular instrument intended for a trading exchange, the trading order having an associated price;
- identify from a plurality of sets of pre-configured distribution parameters a particular set of distribution parameters for processing the trading order;
- generate a group of distributed trading orders for the instrument distributed over multiple price levels based at least on the trading order price and the identified set of distribution parameters associated with the trading order, each order of the group of distributed trading orders having a respective price that is different from the price of every other order in the group of distributed trading orders, in which each of the group of distributed trading orders comprises a same side as the trading order such that the group of distributed trading orders comprise buy orders if the trading order comprises a buy order and the group of distributed trading orders comprise sell orders if the trading order comprises a sell order;
- and
- submit the generated group of distributed trading orders to the trading exchange for the particular instrument.
A non-transitory machine-readable having instructions stored thereon that are configured to, when executed by at least one processor, direct the at least one processor to:
- receive from a particular trader a trading order for a particular instrument intended for a trading exchange, the trading order having an associated price;
- identify from a plurality of sets of pre-configured distribution parameters a particular set of distribution parameters for processing the trading order;
- generate a group of distributed trading orders for the instrument distributed over multiple price levels based at least on the trading order price and the identified set of distribution parameters associated with the trading order, each order of the group of distributed trading orders having a respective price that is different from the price of every other order in the group of distributed trading orders, in which each of the group of distributed trading orders comprises a same side as the trading order such that the group of distributed trading orders comprise buy orders if the trading order comprises a buy order and the group of distributed trading orders comprise sell orders if the trading order comprises a sell order;
- and
- submit the generated group of distributed trading orders to the trading exchange for the particular instrument.
Dependencies are inferred from the claim text.