93 results about "Electronic trading" patented technology

A system and method for managing latency of messages in an exchange system to address technical advantages in certain market participant hardware are disclosed. In one implementation, the system may include an exchange system, and a set of instructions, to cause a processor of the exchange system identify an order type susceptible to technical advantages certain market participants may possess and to apply a re-ordering of, and / or a fixed or random latency to, all orders of the identified order type during a predetermined time of a trading day.

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.

An electronic trading system is configured to create speculative orders based on real orders. The speculative order differs from the real order by the price, quantity, or the type of financial instrument. The match engine chooses one or more speculative orders in an attempt to predict the next real order. Even though processing multiple trades at the same time is impossible, the use of speculative orders can permit the match engine to perform the calculations involved with the trade and generate the messages associated with the trade ahead of time. If the prediction was correct and the next order received by the match engine corresponds to one of the speculative orders, some of the matching activity has already been performed. This in effect, allows the match engine to process trades more efficiently and increases the total trading volume that can be handled by the electronic trading system.

The present invention relates to the fields of blockchain and financial technology, and relates to a blockchain-based electronic transaction system using physical precious metal reserves to issue all certificates. The present invention provides a technical improvement to conventional blockchain-based electronic transaction systems by introducing physical precious metal reserves as a new component and issuing all electronic transaction certificates. Each certificate in a unit of measure has a one-to-one mapping to each mass component of physical precious metal reserve, so that the system achieves qualitative persistence, identity, and replicability across time and space in terms of constituent elements, issuance mechanisms, functional structures and interaction relations thereof, and the production and manufacturing cost of the system can be meaningfully analyzed. The present invention enables pricing, trading, and accounting of goods and services based on the mass of precious metals, and enables direct exchange of goods and services with physical precious metals, meeting innovative operational requirements of multinational corporations in global business.

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.

Systems and methods of the present disclosure enable an electronic transaction platform that receives a request to begin the electronic communication session identifying a preferred instrument feature relating to the target financial instrument to be traded. The electronic transaction platform receive instrument feature data relating to characteristics of financial instruments available to trade, and clusters, using a clustering machine learning model, the financial instruments into instrument feature groups based on the characteristics. The target financial instrument is classified with the clustering machine learning model into one of the instrument feature groups based on the preferred instrument feature to identify similar financial instruments. A dealer user is identified to act as an intermediate entity in a transaction with the similar financial instruments and a graphical user interface is presented to the user with active links to connect to the dealer user for each similar financial instrument.

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.)

The purpose is to provide a token issuance system that can provide real assets that exist in the real world as digital assets that are highly reliable, easy to handle, and transparent. [Solution] The electronic trading network system S is configured to ensure the existence of assets that have a real existence in the real world, while transforming the assets into non-fungible tokens as assets to be issued and treating them as equivalent assets on the network.It is also configured to be able to execute electronic transactions of the assets to be issued, or provide information such as the ability to view the assets to be issued, using smart contracts (transaction processing specification information) that specify predetermined processing and restrictions.

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 a latency floor mechanism for processing incoming orders to an electronic trading system which impart a delay on orders, not when they are received, but when they are matched by the match engine / CLOB thereby imparting zero added latency between order submission / modifications / cancellations and price market data publication by the electronic trading system because the disclosed randomization processing delay applies only to matched orders, which represent a small fraction of the market events.

The invention relates to a method for securely generating a issuable token by means of a token issuer of an electronic transaction system having a token reference register. The invention also relates to a method for securely destroying a token of an electronic transaction system having a token reference register. The invention further relates to a token issuing device. In a token issuer unit comprising a secure token generation unit, the following steps are performed: generating a token element pair specific to the token, the token element pair comprising a secret token element and a common token reference element; generating an add instruction that instructs the token reference register to add a token reference including the generated common token reference element in the token reference register as an additional token reference; and sending the adding instruction to the token reference register. In this case, the generated token element pair is an internal, temporary token element pair of a token generation unit, the token generation unit receiving a token reference for the issuable token and generating a replacement instruction, the replacement instruction instructs the token reference register to register a token reference of the issuable token in place of a token reference of the temporary token element pair.

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.

Method, apparatus, and system may control chronological sequencing of data items received from a plurality of client computing devices, according to 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, 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.

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.

The present invention discloses a bid evaluation method, device and medium based on an electronic transaction platform, which belongs to the field of electronic bid evaluation technology; monitors the project progress in real time, determines whether the bidding project has reached the current progress, and automatically obtains the current project information if the project progress reaches the current node, enters the bidding document preparation and bid evaluation method setting; otherwise, the system continues to monitor the project progress; by introducing a conflict detection mechanism, it effectively solves the conflict problem that may exist in the information block processing process. First, the NLP technology is used to segment the information block, remove stop words and punctuation marks, obtain the text after segmentation, and obtain sentence vectors through the BERT model, extract named entities, and use syntactic analysis technology to build a grammatical tree of the sentence, thereby realizing semantic analysis of the information block. By calculating the semantic similarity between information blocks and setting a threshold to determine whether there is repeated or similar content, the conflict between information blocks can be effectively identified and resolved.

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.

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.

An electronic trading venue (ETV) may prioritize maker orders that specify or are associated with cancel delay values by selecting a maker order to be matched with taker orders before competing maker orders, at the same price level for a given instrument, that have smaller or no cancel delay values. Such prioritization may occur even if the competing maker orders were received before the maker order. A cancel delay value indicates an amount of time that must pass after a request to cancel a maker order is received before the ETV actually cancels the maker order. Thus, in exchange for prioritization, maker orders will be subject to a cancelation delay that starts after a cancel request is received and during which a maker order will not be canceled. Takers may benefit from this by being able to match with a maker order before it can be canceled.

Certain embodiments provide a block placing tool for building a user-defined algorithm for electronic trading. Certain embodiments provide for receiving by a block placing tool a selection of one or more blocks. Certain embodiments provide for receiving by a block placing tool a mapping definition including a mapping between block types and / or attributes. Certain embodiments provide for placing blocks based on a selection of blocks and a mapping definition.

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.

System and method for aggressively trading a spread trading strategy in an electronic environment are provided herein. According to the example embodiments, a trader may configure the automated trading tool to trade as aggressively as possible by leaning on a price without an associated quantity. This allows a trader to possibly obtain a more profitable price as well as get filled faster. Traders submit an order for a spread and the automated trading tool calculates the quote order price based on a defined level of aggressiveness, the leaned on price, and the desired spread price. Based on the level of defined aggressiveness and the gap in the market, the automated trading tool may lean on a mildly, moderately, or extremely aggressive price.

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.

In various aspects, a computer receives bond market information in digital form via a network cloud from various combinations of a trading computer of an electronic trading platform and an information computer of an information source and the computer then transforms the bond market information into a bond market analysis. Accordingly, the bond market information, which is generally disorganized digital information existing on various combinations of the trading computer and the information computer, is transmitted to the computer via the network cloud and then transformed by the computer into an organized bond market analysis, which is also in digital form, and which may be displayed in various ways. The computer may automatically generate order information in digital form in response to the bond market analysis and the computer may communicate the order via the network cloud to the trading computer for execution.

Method, apparatus, and system may control chronological sequencing of data items received from a plurality of client computing devices, according to 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, 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.