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US 8,751,370 B2Granted
Multi-broker order routing based on net position
AssigneeTrading Technologies International, Inc.
InventorsJunsheng Cheng, Stephen P. Decker
Life of this patent
Estimating the term…
Abstract
The disclosed embodiments provide tools for multi-broker order routing based on net position at a broker. The net position of a user at a broker to receive a portion of a trade order is considered when allocating the quantity for the trade order to multiple brokers.
Claims7
A system including:
- a computing device including a processor,
- wherein the computing device is configured to receive a trade order including a trade order quantity of a tradeable object for a user;
- wherein the computing device is configured to calculate a first allocation percentage for a first broker and a second allocation percentage for a second broker;
- wherein the computing device is configured to calculate a first target net position for the first broker based on the first allocation percentage and a second target net position for the second broker based on the second allocation percentage;
- wherein the computing device is configured to allocate a first portion of the trade order quantity to the first broker based on a first net position of the user at the first broker related to the tradeable object and the first target net position;
- wherein the computing device is configured to allocate a second portion of the trade order quantity to the second broker based on a second net position of the user at the second broker related to the tradeable object and the second target net position;
- and
- wherein the computing device is configured to send a first message to the first broker and a second message to the second broker, wherein the first message includes the first portion of the trade order quantity, wherein the second message includes the second portion of the trade order quantity.
5 more elements
Dependencies are inferred from the claim text.