Invention Grant
- Patent Title: Liquidity and fill optimization for crossing institutional orders
- Patent Title (中): 流动性和填补优化跨机构订单
-
Application No.: US13196796Application Date: 2011-08-02
-
Publication No.: US08131633B2Publication Date: 2012-03-06
- Inventor: Craig Schlifstein , Evan David
- Applicant: Craig Schlifstein , Evan David
- Applicant Address: US FL Delray Beach
- Assignee: Boulder Capital Trading
- Current Assignee: Boulder Capital Trading
- Current Assignee Address: US FL Delray Beach
- Agency: Leason Ellis LLP
- Main IPC: G06Q40/00
- IPC: G06Q40/00

Abstract:
Presented is a system and method for performing crossing of institutional security orders. The system includes a first server interconnected to a second server that provides an away market for order execution, and includes client stations across a communication network. The first server includes a database and is configured to receive institutional orders from the client station, which are stored in the database. The first server includes operating instructions operable to determine whether a match exists between contra institutional orders based on predetermined criteria. Upon determination of a match, the first server forwards a child order composed of at least a portion of one of the contra orders to the second server. A plurality of participants in the away market have an opportunity to execute a transaction with the child order leading to price improvement on one side of the trade.
Public/Granted literature
- US20110307367A1 LIQUIDITY AND FILL OPTIMIZATION FOR CROSSING INSTITUTIONAL ORDERS Public/Granted day:2011-12-15
Information query