BLOCK TRADING SYSTEM AND METHOD PROVIDING PRICE IMPROVEMENT TO AGGRESSIVE ORDERS
摘要
The present invention comprises systems and methods for facilitation of electronic securities trading. A preferred system embodiment comprises a trade facilitation computer system comprising a facilitator module, a :financial information exchange server, a transactional database, and an analytics sever operative to calculate reference prices for securities. A preferred method embodiment comprises the steps of receiving market data for a security; calculating a reference price for the security; receiving a first order comprising a first price limit aid a first quantity limit; receiving a second order contra to the first order and comprising a second price limit and a second quantity limit; and executing a trade comprising the first order and the second order at a price whose difference from the reference price is minimized, wherein the trade complies with the first and second price and first and second quantity limits.
申请公布号
WO2005086785(A3)
申请公布日期
2007.07.12
申请号
WO2005US07463
申请日期
2005.03.09
申请人
PIPELINE FINANCIAL GROUP, INC.;WAELBROECK, HENRI;FEDERSPIEL, FRED, J.;LOPEZ, JOHN, E.
发明人
WAELBROECK, HENRI;FEDERSPIEL, FRED, J.;LOPEZ, JOHN, E.