Systems and methods for increasing participation of liquidity providers on crossing system
AssigneeITG Software Solutions, Inc.
InventorsHenri WAELBROECK, Brent Gamse, Fred J. Federspiel
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Abstract
In one aspect, the invention comprises a system for enabling a crossing system operator to calculate a rebate payment to a second participant for executing the block order of a first participant based on at least one of: (a) a difference between a benchmark price and an execution price of the block order; (b) total volume of block execution; and (c) an amount that decays exponentially with the time between the first participant's order and the order's execution by a liquidity provider.
Claims2
A system for enabling a crossing system operator to calculate a rebate payment to a second participant for executing the block order of a first participant based on at least one of:
- (a) a difference between a benchmark price and an execution price of said block order;
- (b) total volume of block execution;
- and
- (c) an amount that decays exponentially with a time between said first participant's order and said order's execution by a liquidity provider.
A system for enabling a crossing system operator to calculate a rebate payment to a first participant upon execution by a second participant of an order placed by said first participant, based on at least one of:
- (a) a difference between a benchmark price and an execution price of said block order;
- (b) total volume of said block execution;
- and
- (c) an amount that decays exponentially with a time between said first participant's order and said order's execution by a liquidity provider.
Dependencies are inferred from the claim text.