US 2015/0088720 A1 · Secure Exchange Feed Market Data Embargo

Abstract

Methods, devices, and systems for communicating market data with market participants involve obfuscating at least a portion of a first financial message. Communicating the market data also involves augmenting a second financial message with a key configured to remove the obfuscation from the obfuscated portion of the first financial message. The market data is ultimately communicated by transmitting the first financial message to a particular participant, and transmitting the second message to a plurality of participants. The particular participant may then use the key from the second financial message to remove the obfuscation of the first financial message.

Claims24

Dependent claims

A computer implemented method for managing communication of a plurality of financial messages to a plurality of market participants via a network, the plurality of financial messages including a first financial message, the first financial message including first market data intended to be received and comprehended by a first market participant of the plurality of market participants, and a second financial message corresponding to the first financial message, and including second market data intended to be received and comprehended by all of the plurality of market participants, the method comprising:

obfuscating, by a processor, at least a portion of the first market data of the first financial message such that the obfuscated portion of the first market data is incomprehensible to the first market participant without associated key data configured to render the obfuscated data comprehensible thereto;
augmenting, by the processor, the second financial message corresponding to the first financial message, with the associated key data;
and
transmitting, by the processor via the network, the obfuscated first financial message to the first market participant and the second financial message to the plurality of market participants.

1 more element

A system for managing communication of a plurality of financial messages to a plurality of market participants via a network, the plurality of messages including a first financial message, the first financial message including data intended to be received and comprehended by a first market participant of the plurality of market participants, and a second financial message corresponding to the first financial message and including data intended for all of the plurality of market participants, the system comprising:

a first logic stored in a memory and configured to be executed by a processor to cause the processor to obfuscate at least a portion of the first financial message such that the obfuscated portion of the first financial message is incomprehensible without associated key data configured to make the obfuscated portion comprehensible to the first market participant;
a second logic stored in the memory and configured to be executed by a processor to cause the processor to generate the second financial message comprising the associated key data;
a third logic stored in a memory and configured to be executed by a processor to cause the processor to transmit, via a network, the first financial message to the first market participant;
and
a fourth logic stored in the memory and configured to be executed by a processor to cause the processor to transmit, via the network, the second financial message to the plurality of market participants.

2 more elements

Dependencies are inferred from the claim text.

Secure Exchange Feed Market Data Embargo

Life of this patent

Secure Exchange Feed Market Data Embargo

Life of this patent

Abstract

Claims24