32 results about "Electronic trading" patented technology

A high-speed matching-engine architecture is disclosed that sustains deterministic sub-microsecond latency while processing more than 10 million order messages per second per core on commodity multi-core processors. Orders reside in cache-aligned Data Holder Nodes whose occupancy and price-level boundaries are tracked with constant-time bitmask operations, eliminating pointer-chasing penalties. Per-core huge-page pools, SIMD copy kernels, and lock-free, cache-line-aligned queues further minimize TLB misses and coherence overheads. Overflow is handled by Push Back / Push Forward cascades that relocate the least- or most-prioritized orders between adjoining nodes without violating price-time priority. Node capacities vary monotonically with book depth and are re-tuned online by a lightweight machine-learning controller that maximizes cache-hit probability under changing market micro-structure. The design tightens spreads, raises match-rate revenue, and complies with stringent regulatory latency caps using standard x86-64, Arm, or other architectures.

The present application generally relates to electronic trading systems, and more specifically to systems and methods for electronic trade order routing. A routing algorithm may generate an execution style recommendation for incoming IG corporate orders. For example, the style recommendation may be shown as a new column in the trading application dashboard that suggests a course of action to traders for each order. In one implementation, automatic decision making may occur based on the style recommendation.

An electronic trading system utilizes a Match Engine that receives orders, stores them internally, calculates tradable combinations and advertises the availability of real and implied orders in the form of market data. New tradable items defined as combinations of other tradable items may be included in the calculation of tradable combinations. A technique is disclosed for suppression of the calculation and / or subsequent listing of an implied order when the order is either undesired or unnecessary in the market therefore.

System, method, and apparatus may determine exchange and clearinghouse fees for a client to an executed trade based on client fee instructions indicating real time fee rates in a trade message generated by an electronic trading exchange that executes the trade, without any additional information other than information in the trade message.

A secure, compliant trading platform for securities exchange using the open outcry methodology within a secure electronic exchange environment that reduces or eliminates unfairness and opportunities for fraud within the marketplace. Enhancements to the system include the addition of an exchange blockchain for recording all trade events, smart contracts that allow the use of digital currencies for monetary transactions associated with trades, and an intelligent exchange assistant that monitors the exchange member's activity and offers contextual notifications and makes recommendations in real-time to assist the exchange member. The system assures that private information is retained private and the blockchain records immutable data that is used for compliance checking and performance analytics.

System, method, and apparatus may determine exchange and clearinghouse fees for a client to an executed trade based on client fee instructions indicating real time fee rates in a trade message generated by an electronic trading exchange that executes the trade, without any additional information other than information in the trade message.

The disclosed embodiments relate to reduction of computational resources of an electronic trading system required for management of electronic tradeable instruments via instantiation of data objects in a memory including both data inherited from and data linked to a master data object stored in an external data structure or database. The combination of both inherited and referenced attributes may uniquely define each instance to enable the electronic trading system to manage and process transactions for a large number of tradeable instrument variations with minimal computational resources. Thereby, the disclosed embodiments enable the listing en mass and scheduling of a large number of financial instruments for trading to cover, for example, various currency patterns, pricing sources and fixing times.

Method, apparatus and system may control chronological sequencing of data items received from a plurality of client computing devices, substantially based on times of completion of transmission respectively from the client computing devices, and distributing the data items according to the chronological sequencing to one or more destination computing devices with minimal latency. In an exemplary implementation, trade orders from participant computing devices may be distributed by an electronic trading platform with minimal latency to exchange gateways, substantially based on time of transmission of the trade orders to the platform instead of time of receipt of the trade orders by the platform, thereby avoiding unfairness to those participants whose computing devices are located at greater distances from the platform than other computing devices respectively of other participants.

An electronic trading system is configured to trade credit default swap (CDS) futures contracts on an open exchange. The CDS futures contract allows the buyer and seller isolate and trade the credit risk of a third party. The third pay may be a corporation, sovereign government, or any entity that issues bonds or notes. The CDS futures contract seller effectively pays the premium over time in increments determined by market rates and through the natural operation of the open market. The CDS futures contract buyer makes a contingency payment if the CDS futures contract goes in-the-money (ITM). Both sides of the contract are guaranteed by the exchange as a counterparty.

The present application generally relates to electronic trading systems, and more specifically to systems and methods for electronic trade order routing. Specifically, electronic trade orders may be divided into a first set and a second set. The first set of trade orders are executed with ad hoc execution styles. For the second set, execution style recommendations are generated in a form of a lookup table for the second set of trade orders according to a testing routing strategy. The second set of trade orders are executed with recommended execution styles. A difference between performance metrics among the first set of trade orders and the second set of trade orders is computed. A decision on whether to adopt the recommended execution style is generated based at least in part on the computed difference.

Systems and methods for transforming an electronic portfolio. A system includes an electronic crossing platform that receives data defining trade orders of the electronic portfolio during an initial time period; compares portions of the data to determine an imbalance of the trade orders remaining after the initial time period and receives, during a final time period, a final trade order from a fund agent device to offset the remaining imbalance. The platform receives, after the final time period, a benchmark value of the electronic portfolio from a fund device; compares the final trade order with the remaining imbalance to determine an adjustment value; converts the benchmark value to a final value by applying the adjustment value to the benchmark value; and transforms the electronic portfolio into the transformed portfolio by creating paired buy and sell orders among the trade orders received during the initial time period at the final value.

The disclosed embodiments relate to improving the efficiency of an electronic trading system for interest rate swaps (“IRS”) by allowing for IRS contracts to be funded in a base currency while the cash flows, e.g. coupon payments, price alignment interest, variation margin, are denominated in a local currency different from the base currency. Thereby cash flows may be netted and offset minimizing the magnitude of funds needed to be moved and reducing the number of transactions processed by the electronic trading system as well as the consumption of computational resources thereby. Furthermore, the disclosed embodiments facilitate entering into IRS transactions is a currency different from the currency of cash flows while eliminating Herstatt risk due to volatility of foreign exchange rates, which allows for increased off shore participation and thereby increased transaction volume.

This provides an electronic trading system and method based on a point-to-point mesh architecture. [Solution] The electronic trading system is based on a point-to-point mesh architecture and comprises a gateway, a core compute node, and a sequencer. The core compute node performs the electronic trading matching function. The gateway sends messages to the core compute node via a first direct connection and to the sequencer via a second direct connection. The sequencer sends the ordered message to the core compute node via a third direct connection. The core compute node completes the electronic trading matching function by determining the relative ranking among other messages based on the ordered message.

This invention discloses a closed-loop, double-locked bulk commodity trading platform and trading method for domestic trade, belonging to the field of electronic bulk commodity trading technology. It adopts a four-layer hierarchical isolation architecture. The security double-locked layer performs dual verification of the identity legitimacy and fund authorization compliance of transaction requests sequentially, and employs a double-locked transaction execution judgment model, allowing transaction execution only when both verifications pass. The transaction business layer performs hash matching verification of the three flows (funds, goods, and information) after the double-locks pass. Upon successful verification, closed-loop settlement is completed within the platform's closed account system, following a closed-loop fund balance model. The data storage layer stores the entire process verification records and operation logs using a chained hash structure, supporting post-event audit traceability and integrity verification. This invention improves transaction access security, fund flow closure, and operation record traceability through pre-event double-lock access, in-event three-flow verification, and post-event encrypted evidence storage—a complete closed-loop control system.

The disclosed embodiments relate to automatically enabling unconstrained inputs of data, e.g., related to quantities of a proposed trade order for submission to an electronic trading system from parties in an electronic data transaction system that enforces constraints, e.g., a maximum precision in specified quantities, on the inputs relating to the proposed trades that can be submitted by the counterparties. The disclosed embodiments relate to a user interface and system that enables a participant to specify quantities for trades with an increased precision, e.g., fractional quantities, enabling more precise alignment of the transactional characteristics with the specific goals of the participant, in an electronic trading system which constrains tradeable quantities to a maximum allowable precision, e.g., such as whole number quantities, based on business and / or regulatory requirements, e.g., requirements which dictate, for example, that transactions may only take place in whole number quantities or units.

An electronic trading system (ETS) implements risk mitigation methods for orders and quotes associated with a market participant on the ETS. The methods determine a measure of risk associated with one or more trading positions. One of the methods globally counts the number of breaches of risk thresholds associated with a trading symbol and market participant across all matching engines on the ETS over a rolling time period, and if this global risk counter exceeds a maximum, disables all further trades by the market participant on the ETS. Another method limits the number of automatic re-enablements that a market participant can request in response to prior breaches of risk thresholds that resulted in disabling any further trading by the market participant on the ETS.

The disclosed embodiments relate to automatically enabling unconstrained inputs of data, e.g., related to quantities of a proposed trade order for submission to an electronic trading system from parties in an electronic data transaction system that enforces constraints, e.g., a maximum precision in specified quantities, on the inputs relating to the proposed trades that can be submitted by the counterparties. The disclosed embodiments relate to a user interface and system that enables a participant to specify quantities for trades with an increased precision, e.g., fractional quantities, enabling more precise alignment of the transactional characteristics with the specific goals of the participant, in an electronic trading system which constrains tradeable quantities to a maximum allowable precision, e.g., such as whole number quantities, based on business and / or regulatory requirements, e.g., requirements which dictate, for example, that transactions may only take place in whole number quantities or units.

A system and a method automatically enable unconstrained inputs of data including a price that relate to a proposed new or modified trade orders between counterparties for submission to an electronic trading system that enforces constraints on the inputs relating to the proposed trades that can be submitted by the counterparties.

The invention relates to the technical field of electronic transaction processing, in particular to an air material transaction platform intelligent matching recommendation method and system, and the method comprises the following steps: obtaining an inventory record and manual data, building an interchange edge and a modification edge, constructing an air material configuration state topology network, obtaining a purchase request, and positioning a target state node, and performing breadth-first search on a reverse path, performing accumulative weighting to generate candidate alternative paths, obtaining an access rule to verify airworthiness certificates and life values, retaining compliant alternative paths, and performing ascending arrangement according to the total conversion cost to generate a recommendation list. According to the method, the directed topology network containing the configuration state, the interchange relation and the refitting cost weight is constructed, the breadth-first search is utilized to automatically calculate the composite alternative path, the airworthiness certificate and the life rule are deeply verified, the hidden available inventory is effectively mined, the compliance scheme is generated, sorting is carried out according to the total conversion cost, and the conversion efficiency is improved. And the inventory utilization rate and the transaction matching accuracy are maximized while the compliance risk is eliminated.

Systems and methods related to financial trading are provided. More specifically, some embodiments relate to systems and methods for electronic trading using market data channels which users can subscribe. Various embodiments of the present technology can provide a suite of devices that are designed to actively modify market data at the intake point (co-location facility) in order to optimally disseminate only relevant information to various applications. These filtered market data channels can then be accessed by trading systems through various subscription models. Various embodiments allow for any type of channel that alters the natural or pure market data feed to produce different data flows and other signals (e.g., triggers, synthetic prices, etc.).

A system and a method automatically enable unconstrained inputs of data including a price that relate to a proposed new or modified trade orders between counterparties for submission to an electronic trading system that enforces constraints on the inputs relating to the proposed trades that can be submitted by the counterparties.

The invention relates to an order execution system and optional trade order (OTO) that can be integrated into all kinds of stock exchanges and electronic trading brokerage systems where financial trading transactions are carried out, used by companies that provide liquidity in the electronic environment and operate in the financial markets and by the customers of the said companies.

In an intelligent system for providing and recording personalized context-specific financial advice, a method may comprise receiving, from a client device, a request for advice regarding a hierarchical portfolio of assets owned by an investor. The method may further comprise generating, based on the output of a neural network machine learning model, artificial intelligence suggestions for changing the hierarchical portfolio, assembling the AI suggestions and suggestion locations into an actionable artificial intelligence view of the hierarchical portfolio, and transmitting the AI view to the client device. The method may further comprise making a cryptocurrency payment related to service fees associated with the AI view via a blockchain network. The method may further comprise submitting placed transactions associated with the AI suggestions to an electronic trading platform, generating a revised hierarchical portfolio, and recording the AI view on a blockchain, thereby establishing or maintaining a portable financial record for the investor.

The disclosed embodiments relate to computing a forward interest rate for a select future time period subsequent to a current date, such as 1 month, 3 month, 6 month or 12 month term, utilizing data observed or otherwise derived from the trading of futures contracts having short term interest rate based underliers, e.g. based on overnight interest rates, and, in one embodiment, are integrated with an electronic transaction processing system, e.g. an electronic trading system, to access data indicative of the trading thereof, and therefore avoid reliance upon subjective / opinion inputs. Generally, the disclosed embodiments generate a model of expected interest rates for every day of the time period for which a forward interest rate is desired based on a set of interest rate futures contract whose expiration periods cover the period. The disclosed embodiments enable automated determination of a stable, replicatable and risk-free short term forward reference rate which further eliminates the inherent issues with LIBOR discussed above.

Certain embodiments reduce the risks of traditionally programmed algorithms such as syntax errors, unclear logic, and the need for a non-trader programmer to develop the algorithm as specified by a trader by reducing or eliminating the writing of programming code by a user. Certain embodiments provide a design canvas area and blocks for designing an algorithm. Certain embodiments provide for grouping blocks placed in the design canvas area. Certain embodiments provide for virtualized group blocks enabling dynamic instantiation of portions of an algorithm to handle particular discrete events. Certain embodiments provide for operation of some or all portions of an algorithm when a connection between a client device and an algorithm server is broken.

A distributed computing system, such as may be used to implement an electronic trading system, controls inbound message flow rates. Limiting a per-client or per-connection inbound message rate also helps ensure fair provisioning of computing resources, so that a single client's excessive use of resources cannot overwhelm the system to such an extent that it prevents other clients from interacting with the distributed system. It is also desirable to have system-wide control of the overall inbound message rate across all client connections. Such system-wide control ensures that the distributed system as a whole can maintain the required levels of service, including offering a predictable level of access for all clients.

A computer implemented method for determining implied orders in an electronic trading system is provided. The method comprises receiving a first set of one or more real orders, wherein the orders are not tradable against each other. One or more implied orders are identified within the first set of real orders. Market data corresponding to the implied orders can also be identified. At least one additional order is received and the tradability of the additional order is determined against the real or implied orders within the first set of real orders. A resting set of orders is determined from those real and implied orders within the first set of orders not affected by the tradability of the additional order. Implied orders are determined from within the set of resting orders.

The electronic trading system and corresponding method are based on a point-to-point mesh architecture and include a gateway, a core compute node, and a sequencer, where the core compute node performs an electronic trade matching function, and the gateway sends messages to the core compute node via a first direct connection. The gateway sends messages to the sequencer via a second direct connection, and the sequencer sends order-marked messages to the core compute node via a third direct connection, and the core compute node determines a relative ranking among other messages based on the order-marked messages to complete the electronic trade matching function. The gateway, core compute node, sequencer, and each direct connection form part of the point-to-point mesh architecture, which exhibits low latency, fairness, and fault tolerance, and performs high-speed, deterministic electronic trading of financial instruments.

Systems and methods for optimizing order placement in an electronic trading environment are provided. Global queue holder orders are placed in a tradeable object to reserve quantity for traders. Traders may submit order requests for quantity at price levels at which a global queue holder order is holding quantity. When a trader submits an order for a quantity at a price level at which quantity is being held, a gateway compares the order to the global queue holder order information stored in a database. If the trader's order coincides with a price level at which quantity is held, then the gateway virtually transfers ownership of that quantity to the trader, who then assumes the advantageous queue position. When the quantity associated with the order is filled, the fill information is sent to the gateway, which to the database to determine which trader is associated with the filled order quantity.