Back to results
US 8,301,531 B2Granted
Apparatus and methods for handling trading data
AssigneeThe World Markets Company PLC
InventorBrian T. Dawson
Life of this patent
Estimating the term…
Loading patent…
Loading patent…
AssigneeThe World Markets Company PLC
InventorBrian T. Dawson
Estimating the term…
A manually-assisted computer and communications apparatus is provided for periodically fixing a price of a currency or commodity. Successive rate samples of said currency/stock/commodity are received from a plurality of sources (80) over a period of time, recorded and filtered automatically (90) by reference to said historical record and predetermined validation criteria so as to categorize certain samples as valid or erroneous. The received & filtered samples are combined periodically (105-115) so as to derive a fixed rate, which is then released (120) to users. The filtering means distinguishes between rate samples of different contributors within the samples received from a given source, and also receives (OTR1) trading rates generated by an online trading system, in addition to rates quoted by other contributors. Trading rates are applied in said fixed rate in preference to quoted rates. Traders and clients contract (450, 455) to buy and sell currency at rates to be fixed by the apparatus at a future time.
A computer implemented method of trading in a currency, stock or commodity by a dealing party, the dealing party accepting from a plurality of clients binding orders to trade quantities of said currency, stock or commodity, wherein the prices of said trades is not fixed at the time of accepting the order but being defined by reference to a reference price to be fixed at a specified fixing time to price samples received from competing sources, comprising:
A computer implemented method of periodically fixing a price of a currency, stock or commodity to be transmitted to users to facilitate the users to trade using the fixed prices, comprising the steps of:
A computer implemented method of real time acquisition and evaluation of trading data comprising a fixed price of a currency, stock or commodity to be transmitted to users to facilitate the users to trade using the trading data using the fixed price, comprising the steps of:
Dependencies are inferred from the claim text.