Invention Grant
- Patent Title: Method and apparatus for trading securities or other instruments
- Patent Title (中): 交易证券或其他工具的方法和设备
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Application No.: US11898150Application Date: 2007-09-10
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Publication No.: US07844538B2Publication Date: 2010-11-30
- Inventor: Steven M. H. Wallman
- Applicant: Steven M. H. Wallman
- Applicant Address: US VA Vienna
- Assignee: Folio, Inc.
- Current Assignee: Folio, Inc.
- Current Assignee Address: US VA Vienna
- Agency: Kenyon & Kenyon LLP
- Main IPC: G06Q40/00
- IPC: G06Q40/00

Abstract:
A method and apparatus for trading securities trades on behalf of customers expressing orders in both share and dollar amounts. Where a brokerage receives orders from customers in both dollar and share amounts, the brokerage can combine the orders, e.g., by aggregating and netting, and executing the outstanding orders through a market maker. The number of shares to order through the market maker depends on the price at which the market maker can execute. By capturing the spread, the spread can be equitably distributed among buyers and sellers without regard for whether the order was received as a value-based order or a share-based order.
Public/Granted literature
- US20080005013A1 Method and apparatus for trading securities or other instruments Public/Granted day:2008-01-03
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