# US 8,751,369 B2 · System and method for changing order priority levels in an electronic trading environment > Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt - Number: US 8,751,369 B2 - Document ID: US8751369B2 - Status: Granted - Kind: B2 - Application number: 13/953,300 - Filed: 2013-07-29 - Published: 2013-11-28 - Granted: 2014-06-10 - Earliest claimed: 2003-08-29 - Assignees: Trading Technologies International, Inc. - Applicants: Trading Technologies International, Inc. - Inventors: Fred Monroe - Web page: https://patentgrep.com/patent/US8751369B2 ## CPC - G06Q 40/04: Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange - G06Q 30/00: Commerce - G06Q 30/0601: Electronic shopping [e-shopping] - G06Q 40/00: Finance; Insurance; Tax strategies; Processing of corporate or income taxes - G06Q 40/06: Asset management; Financial planning or analysis - 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 ## 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. ## Claims ### Claim 1 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. ### Claim 2 (depends on 1) The method of claim 1 where the fee is associated with a trader for the first order. ### Claim 3 (depends on 1) The method of claim 1, further comprising displaying a queue position for the plurality of received orders on a graphical user interface. ### Claim 4 (depends on 1) The method of claim 1 where the first order is changed from a first priority level to a second priority level. ### Claim 5 (depends on 4) The method of claim 4 where positions for the first order and a second order of the received plurality of orders are swapped according to the user-identified priority for the first order and a user-identified priority for the second order. ### Claim 6 (depends on 5) The method of claim 5 where the trader of the first order is assessed the fee. ### Claim 7 (depends on 5) The method of claim 5 where the trader of the second order is credited at least a portion of the fee. ### Claim 8 (depends on 5) The method of claim 5 where a quantity of the second order is less than a quantity of the first order and where a portion of the first order is swapped with the second order. ### Claim 9 (depends on 5) The method of claim 5 where a quantity of the second order is greater than a quantity of the first order and where a portion of the second order is swapped with the first order. ### Claim 10 (depends on 5) The method of claim 5 where ownership of the first order and the second order is swapped. ### Claim 11 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. ### Claim 12 (depends on 11) The non-transitory computer readable medium of claim 11 where the fee is associated with a trader for the first order. ### Claim 13 (depends on 11) The non-transitory computer readable medium of claim 11, further comprising displaying a queue position for the plurality of received orders on a graphical user interface. ### Claim 14 (depends on 11) The non-transitory computer readable medium of claim 11 where the first order is changed from a first priority level to a second priority level. ### Claim 15 (depends on 14) The non-transitory computer readable medium of claim 14 where positions for the first order and a second order of the received plurality of orders are swapped according to the user-identified priority for the first order and a user-identified priority for the second order. ### Claim 16 (depends on 15) The non-transitory computer readable medium of claim 15 where the trader of the first order is assessed the fee. ### Claim 17 (depends on 15) The non-transitory computer readable medium of claim 15 where the trader of the second order is credited at least a portion of the fee. ### Claim 18 (depends on 15) The non-transitory computer readable medium of claim 15 where a quantity of the second order is less than a quantity of the first order and where a portion of the first order is swapped with the second order. ### Claim 19 (depends on 15) The non-transitory computer readable medium of claim 15 where a quantity of the second order is greater than a quantity of the first order and where a portion of the second order is swapped with the first order. ### Claim 20 (depends on 15) The non-transitory computer readable medium of claim 15 where ownership of the first order and the second order is swapped.