Computer-implemented systems and methods for blotter synchronization
OwnerGregg A. Drummainventor
Life of this patent
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Abstract
Computer-implemented systems and methods are disclosed for synchronizing securities order information between an order management system and liquidity source computer systems. An order management system generates a securities order and communicates it to a blotter synchronization module. The blotter synchronization module communicates with liquidity source computer systems to indicate that the securities order is open for execution, and the liquidity source computer systems may respond to request permission to execute the securities order. The blotter synchronization module determines whether to select one of the liquidity source computer systems to execute the securities order.
Claims19
A computer-implemented method for synchronizing securities order information between an order management system and a plurality of liquidity source computer systems, said method comprising:
- at the order management system, generating a securities order;
- communicating the securities order to a blotter synchronization module;
- transmitting messages via a network from the blotter synchronization module to the plurality of liquidity source computer systems indicating that the securities order is open for execution;
- receiving over the network at the blotter synchronization module a message from one or more of the liquidity source computer systems requesting permission to execute part or all of the securities order;
- determining at the blotter synchronization module whether to select one of the liquidity source computer systems to execute the securities order based upon pre-specified order approval criteria;
- and
- if the blotter synchronization module determines to select a liquidity source computer system based upon said determining step, then transmitting a message to the selected liquidity source computer system indicating that the selected liquidity source computer system has permission to execute the securities order;
- wherein direct access by the liquidity source computer systems to internal aspects of the order management system is restricted.
A computer-implemented system for synchronizing securities order information between an order management system and a plurality of liquidity source computer systems, wherein a securities order is generated at the order management system, said system comprising:
- software instructions configured to operate on one or more data processors and to receive the securities order from the order management system;
- software instructions configured to operate on the one or more data processors and to transmit messages via a network to the plurality of liquidity source computer systems indicating that the securities order is open for execution;
- software instructions configured to operate on the one or more data processors and to receive over the network a message from one or more of the liquidity source computer systems requesting permission to execute part or all of the securities order;
- software instructions configured to operate on the one or more data processors and for determining whether to select one of the liquidity source computer systems to execute the securities order based upon pre-specified order approval criteria;
- and
- software instructions configured to operate on the one or more data processors and to transmit a message to the selected liquidity source computer system indicating that the one of the selected liquidity source computer system has permission to execute the securities order;
- wherein direct access by the liquidity source computer systems to internal aspects of the order management system is restricted.
A computer-readable storage medium encoded with instructions capable of causing a computer to perform a method for synchronizing securities order information between an order management system and a plurality of liquidity source computer systems, said method comprising:
- at the order management system, generating a securities order;
- communicating the securities order to a blotter synchronization module;
- transmitting messages via a network from the blotter synchronization module to the plurality of liquidity source computer systems indicating that the securities order is open for execution;
- receiving over the network at the blotter synchronization module a first message from one or more of the liquidity source computer systems requesting permission to execute part or all of the securities order;
- determining at the blotter synchronization module whether to select one of the liquidity source computer systems to execute the securities order based upon pre-specified order approval criteria;
- and
- if the blotter synchronization module determines to select the one of the liquidity source computer systems based upon said determining step, then transmitting a second message to the one of the liquidity source computer systems indicating that the one of the liquidity source computer systems has permission to execute the securities order;
- wherein direct access by the liquidity source computer systems to internal aspects of the order management system is restricted.
Dependencies are inferred from the claim text.