Cover-OCO for legged order
AssigneeTrading Technologies International, Inc.
InventorPatrick J. Rooney
Life of this patent
Estimating the term…
Abstract
A position associated with a synthetic spread order may be managed where a status of a synthetic spread order is identified as legged. The synthetic spread order may have at least one child hedge order pending at an electronic exchange and in response, a bracket order is submitted to an electronic exchange for the tradeable object associated with a filled leg of the synthetic spread. In response to execution of the bracket order, the child hedge order may be cancelled.
Claims20
A method for managing a position associated with a synthetic spread order, comprising:
- identifying a status of a synthetic spread order as legged via a trading device, the synthetic spread order having a filled leg and unfilled leg including at least one child hedge order pending execution at an electronic exchange;
- submitting at least one bracket order to the electronic exchange for a tradeable object associated with the filled leg of the synthetic spread in response to identifying the status via the trading device;
- and
- in response to execution of the at least one bracket order, cancelling the at least one child hedge order.
A non-transitory computer readable medium having instructions stored thereon which when executed by a processor cause the processor to carry out acts comprising:
- identifying a status of a synthetic spread order as legged via a trading device, the synthetic spread order having a filled leg and unfilled leg including at least one child hedge order pending execution at an electronic exchange;
- submitting at least one bracket order to the electronic exchange for a tradeable object associated with the filled leg of the synthetic spread in response to identifying the status via the trading device;
- and
- in response to execution of the at least one bracket order, cancelling the at least one child hedge order.
A trading device, comprising:
- a synthetic spread manager configured to identify a status of a synthetic spread order as legged, the synthetic spread order having a filled leg and unfilled leg including at least one child hedge order pending execution at an electronic exchange;
- and
- an order router configured to submit at least one bracket order to the electronic exchange for a tradeable object associated with the filled leg of the synthetic spread in response to identifying the status via the trading device, where in response to execution of the at least one bracket order, the order router cancels the at least one child hedge order.
Dependencies are inferred from the claim text.