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US 2016/0078537 A1Published application
System and method for facilitation cross orders
AssigneeIEX Group, Inc.
InventorsBradley Katsuyama, Donald Bollerman, Matthew Norbert Trudeau, John Schwall, Ronan Ryan
Life of this patent
Estimating the term…
Abstract
A number of techniques for improving electronic trading are disclosed. According to some embodiments, an electronic trading system may establish a new Facilitation Cross order type which automatically performs a number of trading steps in a single uninterrupted sequence so as to help a risk trader fulfill a client investor's trading request efficiently and with lower market risk.
Claims6
A computer-implemented method of electronic trading, the method comprising:
- establishing, in an electronic trading system, a facilitation cross order type for risk traders;
- and
- upon receiving a facilitation cross trading order from a risk trader attempting to meet a client investor's trading request, executing said order by automatically performing the following in a single uninterrupted sequence:
- a) executing an agency trade to exhaust all available trading opportunities in one or more markets on behalf of said client investor and in accordance with said client investor's trading request;
- and
- b) printing, on behalf of said risk trader, a principal trade on an order book of the first market center to fulfill said client investor's trading request that has not been met by said executed agency trade.
3 more elements
A computer-implemented apparatus comprising:
- at least one computer processor and at least one communication interface that are configured to:
- establish, in an electronic trading system, a facilitation cross order type for risk traders;
- and
- upon receiving a facilitation cross trading order from a risk trader attempting to meet a client investor's trading request, execute said order by automatically performing the following in a single sequence:
- a) executing an agency trade to exhaust all available trading opportunities in one or more markets on behalf of said client investor and in accordance with said client investor's trading request;
- and
- b) printing, on behalf of said risk trader, a principal trade on an order book of the first market center to fulfill said client investor's trading request that has not been met by said executed agency trade.
4 more elements
Dependencies are inferred from the claim text.