Invention Grant
- Patent Title: Method and apparatus for order entry in an electronic trading system
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Application No.: US16799143Application Date: 2020-02-24
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Publication No.: US11295384B2Publication Date: 2022-04-05
- Inventor: Michael Merold , John E. Schoen
- Applicant: NEX Services North America LLC
- Applicant Address: US NJ Jersey City
- Assignee: NEX Services North America LLC
- Current Assignee: NEX Services North America LLC
- Current Assignee Address: US NJ Jersey City
- Agency: Lempia Summerfield Katz LLC
- Main IPC: G06Q40/04
- IPC: G06Q40/04 ; H04L49/90 ; G06Q30/08 ; H04L47/625 ; H04L12/70 ; H04L47/10 ; H04L47/50

Abstract:
Orders received by an electronic trading system are processed in batches based on the instrument to which an order relates. An incoming order is assigned to a queue of a queue set that makes up the batch according to a random process. Where orders are received from related trading parties, they are assigned to the same queue set according to their time of receipt. The batch has a random duration within defined minimum and maximum durations and at the end of the batch, the orders held in the queues are transferred to a matching thread of the trading system sequentially with one order being removed from each queue and a number of passes of the queues completed until orders have been removed.
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