# US 2014/0229361 A1 · System and method for event-based trading > Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt - Number: US 2014/0229361 A1 - Document ID: US20140229361A1 - Status: Published application - Kind: A1 - Application number: 14/255,513 - Filed: 2014-04-17 - Published: 2014-08-14 - Earliest claimed: 2003-12-12 - Assignees: Trading Technologies International, Inc. - Applicants: Trading Technologies International, Inc. - Inventors: Gerald J. O'Connor; Stephen J. Murphy - Web page: https://patentgrep.com/patent/US20140229361A1 ## 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 40/06: 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 method for news-based trading are developed. According to one method, a trader can pre-define a trading strategy including a number of trading rules to be applied based on a comparison of one or more estimated event values to the respective actual event values to be released at some later time. The example method further includes, upon receiving one or more actual event values via a user input or directly from outside sources, executing one or more predefined trading rules selected based on the comparison of the received actual event values to the respective estimated indicator values. ## Claims ### Claim 1 (canceled) ### Claim 2 A system comprising: a computing device, wherein the computing device is configured to receive an actual event value for a news-based event from a source other than an electronic exchange, wherein the computing device is configured to compare the actual event value to an estimated event value for the news-based event, wherein the estimated event value is defined prior to receiving the actual event value, wherein the computing device is configured to select a trading rule of a plurality of trading rules based on the comparison, and wherein the computing device is configured to generate a trade order message associated with a tradeable object based on the selected trading rule, wherein the trade order message is to be sent to the electronic exchange. ### Claim 3 (depends on 2) The system of claim 2, wherein the computing device is further configured to: define the plurality of trading rules, wherein selection of each of the plurality of trading rules is based on a comparison of a corresponding estimated event value to the actual event value. ### Claim 4 (depends on 2) The system of claim 2, wherein the actual event value and the estimated event value are received in a data feed from a news source. ### Claim 5 (depends on 2) The system of claim 2, wherein the computing device is further configured to: send the trade order message to the electronic exchange. ### Claim 6 (depends on 2) The system of claim 2, wherein the trade order message comprises a trade order message to buy or sell the tradeable object at the electronic exchange. ### Claim 7 (depends on 2) The system of claim 2, wherein an order price and an order quantity for the trade order message are determined based on the trading rule. ### Claim 8 (depends on 2) The system of claim 2, wherein the trade order message comprises a trade order message to cancel a pending order to buy or sell the tradeable object at the electronic exchange. ### Claim 9 (depends on 2) The system of claim 2, wherein the trade order message comprises a trade order message to change a pending order to buy or sell the tradeable object at the electronic exchange. ### Claim 10 (depends on 2) The system of claim 2, wherein the news-based event is associated with an economic indicator. ### Claim 11 A system, comprising: a computing device, wherein the computing device is configured to receive an electronic trading rule to be executed when a first news event value matches a second news event value to be known at a later time, wherein the second news event value originates from a source other than an electronic exchange that matches orders at prices for a tradeable object, wherein the computing device is configured to display a trading rule icon at a first location of a plurality of locations corresponding to news event values along an axis, wherein the first location corresponds to the first news event value, and wherein the trading rule icon is adjustable via a user input device to be displayed at a second location corresponding to a third news event value, wherein after the adjustment of the trading rule icon to the second location, the computing device is configured to change the first news event value in the electronic trading rule to the third news event value, and wherein after the adjustment of the trading rule icon the electronic trading rule is to be executed when the third news event value matches the second news event value, wherein the computing device is configured to receive the second news event value before the adjustment of the trading rule icon, wherein the computing device is configured to execute the electronic trading rule when the second news event value matches the first news event value, wherein executing the electronic trading rule comprises generating a transaction message to be sent to the electronic exchange; and wherein the computing device is configured to provide a graphical indicator in relation to the trading rule icon to indicate a current stage of execution of the electronic trading rule. ### Claim 12 (depends on 11) The system of claim 11, wherein the computing device is further configured to: update the graphical indicator as the current stage of execution of the electronic trading rule changes. ### Claim 13 (depends on 11) The system of claim 11, wherein the first news event value comprises an estimated news event value, and wherein the second news event value comprises an actual news event value. ### Claim 14 (depends on 11) The system of claim 11, wherein the first news event value comprises an actual news event value, and wherein the second news event value comprises a revised news event value. ### Claim 15 (depends on 11) The system of claim 11, wherein to execute the electronic trading rule the computing device is further configured to send the transaction message to the electronic exchange. ### Claim 16 (depends on 11) The system of claim 11, wherein the graphical indicator indicates that the electronic trading rule was activated for execution. ### Claim 17 (depends on 11) The system of claim 11, wherein the graphical indicator indicates that the transaction message was sent to the electronic exchange. ### Claim 18 (depends on 11) The system of claim 11, wherein the graphical indicator indicates different stages of execution of the transaction message at the electronic exchange. ### Claim 19 (depends on 11) The system of claim 11, wherein the transaction message comprises an order to buy or sell the tradeable object at the electronic exchange. ### Claim 20 (depends on 11) The system of claim 11, wherein the transaction message comprises an order to delete a working order quantity pending for the tradeable object at the electronic exchange. ### Claim 21 (depends on 11) The system of claim 11, wherein the trading rule icon is adjusted by dragging a boundary of the trading rule icon to the second location corresponding to the third event value along the axis. ### Claim 22 (depends on 11) The system of claim 11, wherein the graphical indicator is color coded to indicate the current stage of execution of the electronic trading rule. ### Claim 23 (depends on 11) The system of claim 11, wherein placement of the trading rule icon at the first location indicates that the electronic trading rule is to be executed when the second news event value falls within a user defined range of values from and including the first news event value.