Opening price process for trading system

A system for determining an opening price for products traded over a distributed, networked computer system, includes a plurality of workstations for entering orders for financial products into the distributed, networked computer system and a server computer coupled to the workstations for receiving...

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Main Authors Moore, Daniel F, Eng, Yek, DeNat, Mark, Galus, Michael, Justice, Richard, Friedman, Bruce E, Vincent, Timothy, Hughes, John, Martyn, Peter
Format Patent
LanguageEnglish
Published 29.07.2008
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Abstract A system for determining an opening price for products traded over a distributed, networked computer system, includes a plurality of workstations for entering orders for financial products into the distributed, networked computer system and a server computer coupled to the workstations for receiving the orders. The server computer executes a server process that determines an opening price for the product. The server process identifies the oldest of interest at the most aggressive price on each side of the market and selects the older interest of the identified interest to designate as initial interest. The server process matches initial interest against all contra side interest.
AbstractList A system for determining an opening price for products traded over a distributed, networked computer system, includes a plurality of workstations for entering orders for financial products into the distributed, networked computer system and a server computer coupled to the workstations for receiving the orders. The server computer executes a server process that determines an opening price for the product. The server process identifies the oldest of interest at the most aggressive price on each side of the market and selects the older interest of the identified interest to designate as initial interest. The server process matches initial interest against all contra side interest.
Author Eng, Yek
Friedman, Bruce E
DeNat, Mark
Galus, Michael
Justice, Richard
Martyn, Peter
Vincent, Timothy
Moore, Daniel F
Hughes, John
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References Rickard et al. (6016483) 20000100
Finebaum et al. (2002/0156719) 20021000
Moore et al. (2003/0229563) 20031200
Madoff et al. (2002/0019795) 20020200
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