Event triggered trading

Inactive Publication Date: 2008-11-06
CHICAGO MERCANTILE EXCHANGE
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

[0008]The foregoing summary is provided only by way of introduction. The features and advantages of aspects of the invention may be realized and obtained by the instrumentalities and combinations pointed out in one or more of the claims. Nothing in th

Problems solved by technology

The data evaluated by many algorithmic trading systems is limited to information that results from the market itself, such as market data (e.g., stock price, trading volume, etc.) For example, many algorithmic trading systems evaluate market data received from an exchange to identify pricing and pricing trends.
The transmission of data to and the orders from the algorithmic trading system is plagued with latency and delays.
A trading system using a low-bandwidth, high-latency telecommunications service provider may suffer, for example, a disadvantage compared to a trading system connected through a high-bandwidth, low-latency telecommunications service provider.
Nevertheless, the trading system suffers from the same dependency on the bandwidth and latency constraints of its telecommunications service provider.
Furthermore, the trading system may suffer from incorrect and / or inaccurate scans of a live news feed that result in an incorrect trade being automatically executed.

Method used

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Examples

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Embodiment Construction

[0012]The event triggered trading systems may take physical form in certain parts and steps, embodiments of which will be described in detail in the following description and illustrated in the accompanying drawings that form a part hereof. Event triggered trading systems, methods and apparatuses may be achieved in many different forms, formats, and designs and should not be construed as limited to the exemplary embodiments set forth herein. One or more embodiments in accordance with aspects of the invention may administer, communicate, manage, place, enter, receive, match, clear, present, display, store, execute, and / or confirm orders that may be triggered according to events that occur outside a market for the financial instrument of the order.

[0013]Embodiments may take the form of one or more devices, systems, distributed networks, data processing systems, processes, electronic hardware, computer software, firmware, including object and / or source code, and / or combinations thereof...

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PUM

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Abstract

Networks, systems and methods for event triggered trading of investment vehicles are disclosed. Orders that are conditioned upon events occurring outside a market may be submitted to an exchange. The conditional orders may be held or stored until the occurrence or non-occurrence of the event. An event data feed is provided to provide information identifying the occurrence or non-occurrence of the event. In response to receiving information via the data feed identifying the event, the orders conditioned upon the event will be triggered, matched, and executed.

Description

TECHNICAL FIELD[0001]Aspects of the invention relate to systems, apparatuses, and methods for managing trading of investment vehicles. In particular, aspects of the invention relate to automated trading of investment vehicles according to triggering events.DESCRIPTION OF RELATED ART[0002]Trading systems, such as algorithmic trading systems, automatically submit orders for financial instruments on electronic trading platforms. The systems use econometrics, financial mathematics, stochastic, artificial intelligence and other sophisticated mathematical models for making transaction decisions. The models may evaluate data according to rules that determine an optimal time to enter an order to a market. For example, a trading system may evaluate market data to determine the timing and volume for an order to minimize the impact on a price for the financial instrument.[0003]The data evaluated by many algorithmic trading systems is limited to information that results from the market itself, ...

Claims

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Application Information

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IPC IPC(8): G06Q40/00
CPCG06Q10/087G06Q40/04
InventorRAITSEV, JAMESLIBERMAN, STANISLAV
OwnerCHICAGO MERCANTILE EXCHANGE