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US 2017/0249700 A1Published application
Systems and methods for providing non-fully-transparent markets
AssigneeBGC Partners, Inc.
InventorsHoward W. Lutnick, Peter Bartko
Life of this patent
Estimating the term…
Abstract
Receiving a request to reveal a bid or an offer, transmitting a price and a size that corresponds to the bid or the offer; waiting a pre-determined period of time, and executing the bid or the offer at a default price and a default size, in the event that no command is submitted to trade within the pre-determined period of time.
Claims20
A method for facilitating electronic trading over a network with interfaces of computing devices, the method comprising:
- receiving, via an interface of a computing device of an electronic trading system, a request to reveal a first price of a selected order having a first price and a second price associated with the order, in which the request is submitted via an interface of a remote computing device;
- transmitting, via an interface of a remote computing device that is in communication with the interface of the computing device of the electronic trading system over a network, the first price and a size associated with the selected order;
- determining that the computing device of the electronic trading system has not received a trading command responsive to the order within a pre-determined period of time;
- and
- executing, via the computing device of the electronic trading system, the order at a default price and a default size.
2 more elements
An apparatus for facilitating electronic trading over a network with interfaces of computing devices, the apparatus comprising:
- a processor of a computing device of an electronic trading system;
- and
- a memory, in which the memory stores instructions which, when executed by the processor of the computing device of the electronic trading system, direct the processor of the computing device of the electronic trading system to:
- receive, via an interface of a computing device of an electronic trading system, a request to reveal a first price of a selected order having a first price and a second price associated with the order, in which the request is submitted by an interface of a remote computing device of an electronic trading system;
- transmit, via a an interface of a remote computing device that is in communication with the interface of the computing device of the electronic trading system over a network, the first price and a size associated with the selected order;
- determine, via the computing device of the electronic trading system, that the computing device of the electronic trading system has not received a trading command responsive to the order within a pre-determined period of time;
- and
- execute, via the computing device of the electronic trading system, the order at a default price and a default size.
5 more elements
A method for facilitating electronic trading over a network with interfaces of computing devices, the method comprising:
- receiving, via an interface of a computing device of an electronic trading system, a request to reveal a first price of a selected order having a first and a second price associated with the order, in which the request is received from an interface of a remote computing system;
- transmitting, via an interface of a remote computing device that is in communication with the interface of the computing device of the electronic trading system over a network, the first price and a size associated with the selected order;
- monitoring, via the computing device of the electronic trading system, the remote computing device for a trading command responsive to the order within a pre-determined period of time;
- receiving, via the interface of the computing device of the electronic trading system, a response trading command, in which the command to trade is received via the interface of the remote computing device within the pre-determined period of time and comprises, respectively, a price and a size specified by a user;
- executing, via the computing device of the electronic trading system, the bid or the offer at the price and the size specified by the user in the command to trade, wherein the price and size specified by the user is not the first or the second price of the order;
- transmitting an identity of the user to an interface of a remote computing device of an originating user;
- and
- receiving, via the interface of the computing device of the electronic trading system, from the interface of the remote computing device, a request to permit the user previously denied to trade.
5 more elements
A non-transitory machine-readable medium having instructions stored thereon that, when executed by at least one processor of a computing device of an electronic trading system, direct the at least one processor of the computing device of the electronic trading system to:
- receive a request to reveal a first price of a selected order having a first price and a second price associated with the order, in which the request is submitted by an interface of a remote computing device;
- transmit to an interface of the remote computing device that is in communication with the computing device of the electronic trading system over a network, the first price and a size associated with the selected order;
- determine that the computing device of the electronic trading system did not receive a trading command responsive to the order within a pre-determined period of time;
- and
- execute the order at a default price and a default size.
2 more elements
Dependencies are inferred from the claim text.