Electronic Trading Communication Module for Real-Time Negotiation
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Current electronic financial instrument trading systems lack real-time interactive communication capabilities, leading to inefficiencies and difficulties in price adjustment and order handling, particularly compared to traditional open outcry systems.
Innovation Solution
The implementation of an electronic trading system with integrated communication modules that facilitate real-time messaging and communication between market participants, allowing for instant negotiations and trade execution within a controlled communication environment, using protocols like TCP/IP and UDP, and incorporating features like chat rooms and trading grids for efficient market data dissemination.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If traditional open outcry trading systems are used, then real-time interactive communication between traders is achieved, but the trading system lacks efficiency and fairness compared to electronic systems
Solution Approach 1:
The patent combines electronic trading system capabilities with open outcry communication features by integrating a communication module into the electronic trading platform. This allows traders to exchange messages and negotiate trades electronically while maintaining the real-time interactive communication characteristics of open outcry systems, thereby resolving the contradiction between communication efficiency and trading efficiency.
2Productivity
If electronic trading systems are implemented, then trading efficiency and speed are improved, but real-time interactive communication capabilities are lost
Solution Approach 1:
The patent introduces a communication module as an intermediary component within the electronic trading system. This module facilitates real-time message exchange between traders, market makers, and other participants, enabling interactive communication without compromising the speed and efficiency of electronic trade execution. The communication module acts as a mediator that bridges the gap between electronic efficiency and human interaction needs.
3Loss of time
If communication delays occur in electronic trading systems, then trade execution is slowed down, but external communication methods like telephones introduce inefficiency and regulatory difficulties
Solution Approach 1:
The patent implements a universal communication module that handles multiple communication functions within the electronic trading system. This single integrated component manages real-time messaging, trade negotiations, and information exchange between all participants, eliminating the need for external communication methods like telephones. The multi-functional design reduces both communication delays and system complexity by consolidating communication capabilities into the trading platform itself.
Data Source
AI summary
Methods, devices, and systems for facilitation of communication between participants of an electronic marketplace involve receiving a message generated from a market participant and transmitting the message to other market participants. The facilitation also involves receiving responses to the message from the other market participants and transmitting the responses to the message originating market participant such that the transmitted response is imperceptible to the other market participants.