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US 9,754,322 B1Granted
Procedural order processing
AssigneePDQ Enterprises LLC
InventorsChristopher Keith, David Randall Padgitt
Life of this patent
Estimating the term…
Abstract
A procedure is enabled to respond to an order en route to a marketplace so that the procedure can determine whether to generate a spawned order, and the spawned order is sent to a destination for execution essentially contemporaneously with the sending of the en route order to the marketplace. The spawned order can be sent to the same marketplace or a different marketplace than the en route order is sent to. The spawned orders provide additional liquidity.
Claims30
A method of routing an original order, comprising:
- receiving, by a software program executing on a computer processor, from a liquidity seeker, the original order that is en route to an order execution facility,
- electronically delaying, by the software program executing on the computer processor, the original order,
- transmitting, by the software program executing on the computer processor, information based on the original order to a procedure associated with a liquidity provider so that the procedure can determine whether to generate a spawned order based on whether a trigger condition is satisfied, the liquidity seeker and the liquidity provider being different entities, and
- sending, by the software program executing on the computer processor, the original order to the order execution facility essentially contemporaneously with sending of the spawned order to a destination.
1 more element
A method of spawning a new order, comprising:
- receiving, by a software program executing on a computer processor, the software program being associated with a liquidity provider, information about an original order en route to an order execution facility,
- determining, by the software program executing on the computer processor, whether to spawn a new order as a function of the information about the original order and confidential data from the liquidity provider,
- spawning, by the software program executing on the computer processor, the new order when the determination is positive,
- determining, by the software program executing on the computer processor, whether the quantity of the new order is at least equal to the quantity of the original order, and when the determination is negative, adjusting, by the software program executing on the computer processor, the quantity of the original order to be equal to the quantity of the new order, and
- sending, by the software program executing on the computer, the new order to a destination without delay.
2 more elements
A method of spawning a new order, comprising:
- receiving, by a software program executing on a computer processor, the software program being associated with a liquidity provider, information about an original order en route to an order execution facility,
- determining, by the software program executing on the computer processor, whether to spawn a new order as a function of the information about the original order and confidential data from the liquidity provider,
- spawning, by the software program executing on the computer processor, the new order when the determination is positive,
- determining, by the software program executing on the computer processor, whether the quantity of the new order is at least equal to the quantity of the original order, and when the determination is negative, cancelling, by the software program executing on the computer processor, the new order and the original order, and
- sending, by the software program executing on the computer processor, the new order to a destination without delay.
2 more elements
Dependencies are inferred from the claim text.