System and method for changing order priority levels in an electronic trading environment
AssigneeTrading Technologies International, Inc.
InventorFred Monroe
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Abstract
A system and method for fee-based order priority level modification in an electronic trading environment are described. When an order reaches an exchange, a priority level of the order may be changed to a higher priority level, and the priority level of the order initially at the higher priority level may be changed to a lower priority level of the received order. In one embodiment, a trader who is gaining a higher priority level will be preferably charged a fee for having his order moved to the higher priority level, and at least a portion of that fee may be paid to a trader who is giving up his high priority level.
Claims20
A method for sorting orders in an order queue at an electronic trading environment, the method comprising:
- generating, via a server of an electronic exchange, a fee for placing a first order of a received plurality of orders for a tradeable object in an order queue for order matching by the electronic exchange according to a match algorithm of the electronic exchange and a user-identified priority, where the first order includes an order price and the user-identified priority.
A non-transitory computer readable medium having instructions stored thereon, which when executed by a processor cause the processor to perform acts comprising:
- generating, via a server of an electronic exchange, a fee for placing a first order of a received plurality of orders for a tradeable object in an order queue for order matching by the electronic exchange according to a match algorithm of the electronic exchange and a user-identified priority, where the first order includes an order price and the user-identified priority.
Dependencies are inferred from the claim text.