Device, system, method, and computer medium for providing price evaluation on fixed-income securities in odd lot market and improving market confidence regarding the same
OwnerJan MAYLE, Ken HOFFMAN +2inventors
InventorsJan MAYLE, Ken HOFFMAN, Steven Jay SHAW, P. Howard EDELSTEIN
Life of this patent
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Abstract
A method, device, system, and computer medium for providing odd lot pricing evaluation of a security using market-acceptable odd lot pricing range (OLP range) are provided. For example, a price quote for an odd lot transaction or potential transaction of a security is received. An Odd Lot Pricing range (OLP range) for the quote is searched. If the OLP range is found for the quote, the quoted price is compared against the OLP range. Based on the comparison, the quote can be verified or indicated as requiring further review.
Claims24
A method for providing odd lot pricing evaluation of a security, using a computing device including a processor, the method comprising:
- receiving by a processor a price quote for an odd lot transaction or a potential transaction of a security;
- searching by a processor Odd Lot Pricing (OLP) range for the quote;
- comparing by a processor the quoted price against the OLP range;
- and
- transmitting by a processor a result based on the comparison.
A method for setting up an offer for an odd lot trade of a security, using a computing device including a processor, the method comprising:
- accepting by a processor an offer price from a user for an odd lot trade of a security;
- transmitting by a processor the offer price to a server;
- receiving by a processor a result from the server, the result being one of that the offer is verified, that the offer needs further review, and that there is insufficient data regarding the offered trade;
- transmitting by a processor the offer to a market place, if the offer is verified;
- and
- accepting again from the user a different offer price or a confirmation of the offer price before transmitting the offer to the market place, if the offer needs further review.
A system for providing odd lot pricing evaluation of a security, comprising a central data server and a plurality of broker-dealer systems each configured to communicate with the central server, the central server configured to evaluate a quote received from at least one of the broker-dealer systems and transmit an evaluation result to at least one of the broker-dealer systems, wherein
- the central server is configured to perform:
- receiving a quote on a security;
- evaluating the quote using an OLP range;
- generating an evaluation result by comparing the quote against the OLP range,
- at least one of the broker-dealer systems is configured to perform:
- sending a request for a quote to a market place;
- receiving a quote from at least another one of the broker-dealer systems via the market place;
- sending the received quote to the central server for evaluation;
- and
- receiving an evaluation result on the received quote from the central server, and
- at least another one of the broker-dealer systems is configured to perform:
- receiving a request for a quote via the market place;
- creating a quote in response to the request;
- sending the created quote to the central server for evaluation;
- receiving an evaluation result on the created quote from the central server;
- and
- sending the created quote to the market place based at least on the evaluation result received from the central server.
A computing device including a processor for providing odd lot pricing evaluation of a security, the device comprising:
- a receiving unit that receives a price quote for an odd lot transaction or a potential transaction of a security;
- a searching unit that searches Odd Lot Pricing (OLP) range for the quote;
- a comparing unit that compares the quoted price against the OLP range;
- and
- a transmitting unit that transmits a result based on the comparison.
Dependencies are inferred from the claim text.