Invention Grant
- Patent Title: System and method for managing and trading auction limit orders in a hybrid auction market
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Application No.: US11182982Application Date: 2005-07-15
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Publication No.: US10699336B2Publication Date: 2020-06-30
- Inventor: Roger Burkhardt , Anne E. Allen , Robert J. McSweeney , Louis G. Pastina
- Applicant: Roger Burkhardt , Anne E. Allen , Robert J. McSweeney , Louis G. Pastina
- Applicant Address: US NY New York
- Assignee: New York Stock Exchange LLC
- Current Assignee: New York Stock Exchange LLC
- Current Assignee Address: US NY New York
- Agency: DLA Piper LLP (US)
- Main IPC: G06Q40/00
- IPC: G06Q40/00 ; G06Q40/04 ; G06Q40/06 ; G06Q30/08 ; G06Q40/02
Abstract:
A buy order is received with a limit price that is above a published best offer, and represented in the auction market. If the buy order is not immediately executed, it is quoted at a minimum variation better than a published best bid, and the price of the quoted buy order becomes the published best bid. Alternatively, a sell order is received with a limit price that is below a published best bid, and represented in the auction market. If the sell order is not immediately executed, it is quoted at a minimum variation better than a published best offer, and the price of the quoted sell order becomes the published best offer.
Public/Granted literature
- US20060015441A1 System and method for managing and trading auction limit orders in a hybrid auction market Public/Granted day:2006-01-19
Information query
