# US 2021/0279800 A1 · Secure deterministic tokens for electronic messages

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- Number: US 2021/0279800 A1
- Document ID: US20210279800A1
- Status: Published application
- Kind: A1
- Application number: 17/328,210
- Filed: 2021-05-24
- Published: 2021-09-09
- Earliest claimed: 2017-12-28
- Assignees: Chicago Mercantile Exchange Inc.
- Applicants: Chicago Mercantile Exchange Inc.
- Inventors: Ryan David Pierce; Stanislav Liberman
- Web page: https://patentgrep.com/patent/US20210279800A1

## CPC

- G06Q 40/04: Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
- G06Q 2220/00: Business processing using cryptography
- H04L 9/50: {using hash chains, e.g. blockchains or hash trees}
- 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
- H04L: TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION (arrangements common to telegraphic and telephonic communication H04M)

## Abstract

A computer implemented method for operating a token management system includes: generating the first plurality of request messages; generating a first plurality of public tokens; augmenting each of the first plurality of request messages with one of the first plurality of public tokens, the augmenting resulting in a first plurality of augmented request messages; transmitting the first plurality of augmented request messages to the first plurality of market participants; generating a second plurality of public tokens based on the first plurality of public tokens; querying a database of financial messages for any financial messages including any of the second plurality of public tokens; and associating a plurality of financial messages including any of the second plurality of public tokens with each other.

## Claims

### Claim 1

A computer implemented method comprising:
generating, by a processor associated with a first participant of a plurality of participants, a first at least one public token;
augmenting, by the processor associated with the first participant, each of a first at least one request message with one of the first at least one public token;
transmitting, by the processor via a network coupled therewith, the first at least one augmented request message to another of the first plurality of participants;
generating, by another processor associated with the other participant, a second plurality of public tokens based on the first at least one public token, the second plurality of public tokens having a relationship therewith discernable only by the first participant;
augmenting, by the other processor, each of a second plurality of request messages with one of the second plurality of public tokens;
transmitting, by the other processor via the network, the second plurality of augmented request messages to at least one request processing computing system, wherein, responsive to processing each of the second plurality of augmented request messages, the at least one request processing computing system generates at least one anonymized result message comprising a result thereof and including the one of the second plurality of public tokens from the particular augmented request message whose processing resulted in the result, and storing the generated at least one anonymized result message in a database coupled with the result processing computing system and operative to store anonymized result messages resulting from the processing of request messages, the generated at least one anonymized result message not otherwise being transmitted to the first participant;
identifying, by the processor in the database, using the first at least one public token, any anonymized result messages stored therein which include any of the second plurality of public tokens; and
providing, by the processor, the identified stored associated anonymized result messages to the first participant.

### Claim 2 (depends on 1)

The computer implemented method of claim 1, wherein the second plurality of request messages are based on the first plurality of request messages, and wherein the association of the first plurality of request messages with the second plurality of request messages is not discernable from the plurality of anonymized financial messages to any other participants other than the first participant.

### Claim 3 (depends on 1)

The computer implemented method of claim 1, wherein first at least one request message is associated with a transaction, and wherein the association is not discernable to the others of the first plurality of market participants.

### Claim 4 (depends on 1)

The computer implemented method of claim 1, further comprising generating, by the processor, the first and second plurality of tokens based on hierarchical deterministic cryptographic keys.

### Claim 5 (depends on 1)

The computer implemented method of claim 1, wherein each of the first plurality of public tokens is characterized as having no association with another of the first plurality of public tokens discernable by any of the participants other than the first participant.

### Claim 6 (depends on 1)

The computer implemented method of claim 1, wherein the second plurality of request messages comprises more messages than the first at least one request message.

### Claim 7 (depends on 1)

The computer implemented method of claim 1, wherein the first at least one request message specifies a first quantity and each of the second plurality of request messages specify a second quantity less than the first quantity, the first quantity being equal to a sum of the second quantities of each of the second plurality of request messages.

### Claim 8 (depends on 1)

The computer implemented method of claim 1, wherein any of the plurality of participants is able to, at any time, identify any of the stored associated anonymized result messages associated with a particular public token.

### Claim 9 (depends on 1)

The computer implemented method of claim 1, wherein transmission of one or more anonymized messages from the one or more request processing computing systems to the first participant via the network is eliminated.

### Claim 10 (depends on 1)

The computer implemented method of claim 1, wherein each of the at least one request processing computing system comprises an exchange computing system which is configured to determine whether an attempt to match a request message with at least one previously received but unsatisfied request message for a transaction which is counter thereto results in at least partial satisfaction of one or both of the request message and the at least one previously received but unsatisfied request message.

### Claim 11 (depends on 1)

The computer implemented method of claim 1, wherein each request message comprises a trade order, trade modification, trade cancellation, or combination thereof, and each anonymized message comprises a confirmation message, update message, rejection message, or combination thereof.

### Claim 12 (depends on 1)

The computer implemented method of claim 1, wherein the anonymized messages comprise data representative of a change in a financial market.

### Claim 13 (depends on 1)

The computer implemented method of claim 1, wherein the at least one request processing computing system comprises at least two exchange computing systems, each receiving and processing a portion of the second plurality of request messages and storing the resultant anonymized result messages in the database.

### Claim 14 (depends on 1)

The computer implemented method of claim 1, further comprising:
identifying, by the processor in the database, using any of the second plurality of public tokens, only the anonymized result messages stored therein which include that public token.

### Claim 15

A non-transitory computer readable medium storing instructions that, when executed by a processor coupled with the network, cause the processor to:
generate, in association with a first participant of a plurality of participants, a first at least one public token;
augment each of a first at least one request message with one of the first at least one public token;
transmit, via a network coupled with the processor, the first at least one augmented request message to another of the first plurality of participants, wherein upon receipt of the first at least one augmented request message, the other participant is operative to generate, using another processor associated therewith, a second plurality of public tokens based on the first at least one public token, the second plurality of public tokens having a relationship therewith discernable only by the first participant, augment, using the other processor, each of a second plurality of request messages with one of the second plurality of public tokens, and transmit, using the other processor via the network, the second plurality of augmented request messages to at least one request processing computing system, wherein, responsive to processing each of the second plurality of augmented request messages, the at least one request processing computing system generates at least one anonymized result message comprising a result thereof and including the one of the second plurality of public tokens from the particular augmented request message whose processing resulted in the result, and storing the generated at least one anonymized result message in a database coupled with the result processing computing system and operative to store anonymized result messages resulting from the processing of request messages, the generated at least one anonymized result message not otherwise being transmitted to the first participant;
identify, in the database, using the first at least one public token, any anonymized result messages stored therein which include any of the second plurality of public tokens; and
provide the identified stored associated anonymized result messages to the first participant.

### Claim 16

A system comprising:
a processor coupled with the network; and
a memory communicatively coupled to the processor, the memory comprising software that, when executed by the processor, performs operations that cause the processor to:
generate, in association with a first participant of a plurality of participants, a first at least one public token;
augment each of a first at least one request message with one of the first at least one public token;
transmit, via a network coupled with the processor, the first at least one augmented request message to another of the first plurality of participants, wherein upon receipt of the first at least one augmented request message, the other participant is operative to generate, using another processor associated therewith, a second plurality of public tokens based on the first at least one public token, the second plurality of public tokens having a relationship therewith discernable only by the first participant, augment, using the other processor, each of a second plurality of request messages with one of the second plurality of public tokens, and transmit, using the other processor via the network, the second plurality of augmented request messages to at least one request processing computing system, wherein, responsive to processing each of the second plurality of augmented request messages, the at least one request processing computing system generates at least one anonymized result message comprising a result thereof and including the one of the second plurality of public tokens from the particular augmented request message whose processing resulted in the result, and storing the generated at least one anonymized result message in a database coupled with the result processing computing system and operative to store anonymized result messages resulting from the processing of request messages, the generated at least one anonymized result message not otherwise being transmitted to the first participant;
identify, in the database, using the first at least one public token, any anonymized result messages stored therein which include any of the second plurality of public tokens; and
provide the identified stored associated anonymized result messages to the first participant.

### Claim 17 (depends on 16)

The system of claim 16, wherein the second plurality of request messages are based on the first plurality of request messages, and wherein the association of the first plurality of request messages with the second plurality of request messages is not discernable from the plurality of anonymized financial messages to any other participants other than the first participant.

### Claim 18 (depends on 16)

The system of claim 16, wherein first at least one request message is associated with a transaction, and wherein the association is not discernable to the others of the first plurality of market participants.

### Claim 19 (depends on 16)

The system of claim 16, wherein the software is further executable by the processor to cause the processor to generate the first and second plurality of tokens based on hierarchical deterministic cryptographic keys.

### Claim 20 (depends on 16)

The system of claim 16, wherein each of the first plurality of public tokens is characterized as having no association with another of the first plurality of public tokens discernable by any of the participants other than the first participant.

### Claim 21 (depends on 16)

The system of claim 16, wherein the second plurality of request messages comprises more messages than the first at least one request message.

### Claim 22 (depends on 16)

The system of claim 16, wherein the first at least one request message specifies a first quantity and each of the second plurality of request messages specify a second quantity less than the first quantity, the first quantity being equal to a sum of the second quantities of each of the second plurality of request messages.

### Claim 23 (depends on 16)

The system of claim 16, wherein any of the plurality of participants is able to, at any time, identify any of the stored associated anonymized result messages associated with a particular public token.

### Claim 24 (depends on 16)

The system of claim 16, wherein transmission of one or more anonymized messages from the one or more request processing computing systems to the first participant via the network is eliminated.

### Claim 25 (depends on 16)

The system of claim 16, wherein each of the at least one request processing computing system comprises an exchange computing system which is configured to determine whether an attempt to match a request message with at least one previously received but unsatisfied request message for a transaction which is counter thereto results in at least partial satisfaction of one or both of the request message and the at least one previously received but unsatisfied request message.

### Claim 26 (depends on 16)

The system of claim 16, wherein each request message comprises a trade order, trade modification, trade cancellation, or combination thereof, and each anonymized message comprises a confirmation message, update message, rejection message, or combination thereof.

### Claim 27 (depends on 16)

The system of claim 16, wherein the anonymized messages comprise data representative of a change in a financial market.

### Claim 28 (depends on 16)

The system of claim 16, wherein the at least one request processing computing system comprises at least two exchange computing systems, each receiving and processing a portion of the second plurality of request messages and storing the resultant anonymized result messages in the database.

### Claim 29 (depends on 16)

The system of claim 16, wherein the software is further executable by the processor to cause the processor to identify, in the database, using any of the second plurality of public tokens, only the anonymized result messages stored therein which include that public token.

### Claim 30

A computer system comprising:
means for generating, in association with a first participant of a plurality of participants, a first at least one public token;
means for augmenting each of a first at least one request message with one of the first at least one public token;
means for transmitting, via a network, the first at least one augmented request message to another of the first plurality of participants;
means for generating, in association with the other participant, a second plurality of public tokens based on the first at least one public token, the second plurality of public tokens having a relationship therewith discernable only by the first participant;
means for augmenting each of a second plurality of request messages with one of the second plurality of public tokens;
means for transmitting, via the network, the second plurality of augmented request messages to at least one request processing computing system, wherein, responsive to processing each of the second plurality of augmented request messages, the at least one request processing computing system generates at least one anonymized result message comprising a result thereof and including the one of the second plurality of public tokens from the particular augmented request message whose processing resulted in the result, and storing the generated at least one anonymized result message in a database coupled with the result processing computing system and operative to store anonymized result messages resulting from the processing of request messages, the generated at least one anonymized result message not otherwise being transmitted to the first participant;
means for identifying, in the database, using the first at least one public token, any anonymized result messages stored therein which include any of the second plurality of public tokens; and
means for providing the identified stored associated anonymized result messages to the first participant.