Order transaction method and system

Abstract

To provide a system and method for matching and / or trading of items.SOLUTION: A method for receiving a first order and a second order for an item is provided, the first order being associated with a first user, the second order being association with a second user, the first order being received before the second order. The method includes: determining a fill rate associated with the first order over a moving duration of time; updating the fill rate associated with the first order, at the end of each first time interval, considering the last predetermined first trading commands in the first time interval; updating the second order in the same way; receiving a trading command for the item; disregarding the first order when it is determined that the fill rate associated with the first order is less than a threshold; and communicating the trading command to a computer of the second user when it is determined that the fill rate associated with the second order is equal to or greater than the threshold.SELECTED DRAWING: Figure 1

Claims

1. A step of receiving a first order and a second order for an item, wherein the first order is associated with a first user, the second order is associated with a second user, and the first order is received at a time prior to the second order. A step of determining the fulfillment level associated with a first order at the end of each elapsed period of a consecutive first time interval, wherein at a given end of a given first time interval among the consecutive first time intervals, the fulfillment level associated with the first order is updated, taking into account a given first trade command during a given number of minutes, hours, days, or months immediately preceding the given end of the given first time interval, where the length of the first time interval is a number of minutes, hours, days, or months, respectively. A step of determining the fulfillment level associated with the second order at the end of each subsequent second time interval, wherein at the end of a given second time interval among the consecutive second time intervals, the fulfillment level associated with the second order is updated, taking into account a given second trading command during a given number of minutes, hours, days, or months immediately preceding the given end of the given second time interval, where the length of the second time interval is a number of minutes, hours, days, or months, respectively. The steps include receiving a trade command for the aforementioned item, A step of determining whether the degree of satisfaction associated with the first order is less than a threshold, If it is determined that the degree of satisfaction associated with the first order is less than the threshold, the first order is ignored, and a step is made to determine whether the degree of satisfaction associated with the second order is equal to or greater than the threshold, If it is determined that the satisfaction level associated with the second order is equal to or greater than the threshold, the transaction command is communicated to the second user's computer via an assigned port in the communication network. At least one computer configured to run, A system equipped with these features.

2. A step of receiving a first order and a second order for an item, wherein the first order is associated with a first user, the second order is associated with a second user, and the first order is received at a time prior to the second order. A step of determining the fulfillment level associated with a first order at the end of each elapsed period of a consecutive first time interval, wherein at a given end of a given first time interval among the consecutive first time intervals, the fulfillment level associated with the first order is updated, taking into account a given first trade command during a given number of minutes, hours, days, or months immediately preceding the given end of the given first time interval, where the length of the first time interval is a number of minutes, hours, days, or months, respectively. A step of determining the fulfillment level associated with the second order at the end of each subsequent second time interval, wherein at the end of a given second time interval among the consecutive second time intervals, the fulfillment level associated with the second order is updated, taking into account a given second trading command during a given number of minutes, hours, days, or months immediately preceding the given end of the given second time interval, where the length of the second time interval is a number of minutes, hours, days, or months, respectively. A step of determining whether the degree of satisfaction associated with the second order is greater than the degree of satisfaction associated with the first order, The steps of placing the second order in the order book with priority over the first order, at least partially based on the fact that the degree of satisfaction associated with the second order is greater than the degree of satisfaction associated with the first order, The steps include receiving a trading command to buy or sell the aforementioned item, The steps include communicating the transaction command to the second user's computer via an assigned port in the communication network, At least one computer configured to run, A system equipped with these features.

3. A step of receiving a first order and a second order for an item, wherein the first order is associated with a first user, the second order is associated with a second user, and the first order is received at a time prior to the second order. A step of determining the fulfillment level associated with a first order at the end of each elapsed period of a consecutive first time interval, wherein at a given end of a given first time interval among the consecutive first time intervals, the fulfillment level associated with the first order is updated, taking into account a given first trade command during a given number of minutes, hours, days, or months immediately preceding the given end of the given first time interval, where the length of the first time interval is a number of minutes, hours, days, or months, respectively. A step of determining the fulfillment level associated with the second order at the end of each subsequent second time interval, wherein at the end of a given second time interval among the consecutive second time intervals, the fulfillment level associated with the second order is updated, taking into account a given second trading command during a given number of minutes, hours, days, or months immediately preceding the given end of the given second time interval, where the length of the second time interval is a number of minutes, hours, days, or months, respectively. A step of determining whether the degree of satisfaction associated with the second order is greater than the degree of satisfaction associated with the first order, The steps of placing the second order in the order book with priority over the first order, at least partially based on the fact that the degree of satisfaction associated with the second order is greater than the degree of satisfaction associated with the first order, The steps include receiving a trading command to buy or sell the aforementioned item, The steps include communicating the transaction command to the second user's computer via an assigned port in the communication network, Controlled by at least one processor, A method that includes this.

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