GUI Order Entry with Continuous Selection and Release
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Solution Overview
Problem
The rapid speed of modern computing and networking technologies makes it difficult for traders to capture desired prices, leading to trades being executed at unintended prices due to volatile market conditions.
Innovation Solution
A graphical user interface (GUI) based system that reduces the time to enter orders by allowing continuous selection and release of bid or offer fields, with a processor rendering the GUI and transmitting orders at or near the desired price, and incorporating safety features to prevent accidental submissions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of time
If traditional order entry methods are used, then the interface is simple and easy to operate, but the order entry time is long and price capture is difficult
Solution Approach 1:
The system pre-configures the order entry interface with automatically updating bid and offer fields, allowing traders to simply select and release prices without manually typing or navigating through complex forms. The GUI is pre-loaded with real-time market data, eliminating the need for manual data entry and reducing order entry time significantly.
Solution Approach 2:
The order entry system performs self-service by automatically retrieving and displaying current bid and offer prices, updating them in real-time without user intervention. The system handles data fetching, price updates, and order transmission automatically once the user selects a price, reducing the operational burden on the trader and minimizing order entry time.
2Productivity
If order entry speed is increased, then price capture improves, but the risk of accidental order submission increases
Solution Approach 1:
The system provides visual feedback by highlighting the selected bid or offer field and displaying the corresponding price information before transmission. This feedback mechanism allows traders to confirm their selection and verify the price before the order is submitted, preventing accidental submissions while maintaining high trading speed through immediate visual confirmation.
Solution Approach 2:
The system implements a release mechanism where the order is not transmitted immediately upon selection but requires a deliberate release action after a brief holding period. This periodic action pattern (select → hold → release → transmit) ensures that only intentional selections result in order submission, reducing accidental orders while preserving rapid trading capability.
3Reliability
If the selection holding period is extended, then accidental submissions are prevented, but the time to execute orders increases
Solution Approach 1:
The system dynamically adjusts the holding period parameter based on market conditions and user preferences. The holding period is set to a minimal duration that provides sufficient feedback and confirmation time to prevent accidental submissions, while being short enough to maintain high trading speed. This parameter optimization balances reliability and speed effectively.
Data Source
AI summary
Disclosed herein are an apparatus, method, and non-transitory computer readable medium that renders a graphical user interface for order entry. A graphical user interface is rendered and an actuation of an input is detected. An order is submitted based on a combination of inputs.