摘要 |
A trading platform and trading method that may allow access to additional pools of liquidity is described The method includes receiving an indication of an order, which can be firm or non-firm This order defines one side of a financial instrument trade The method determines, based on historical information about cancelled orders, a time period for a subsequent intentional delay between receiving the order indication and determining a matching order, which will satisfy the opposite side of the trade This intentional delay period shall be sufficient to prevent information leakage regarding existing orders or a majority of order cancellations Once the intentional delay period is complete, the method determines the matching order and facilitates execution of the trade |
申请人 |
CFPH, LLC |
发明人 |
FISHKIND, ANDREW;LUTNICK, HOWARD, W.;MILLER, MARK, A.;FOLEY, KEVIN;GAY, BRIAN, L.;PLOTT, CHARLES;ALDERUCCI, DEAN, P. |