Trading System Vocalization Deters Data Leakage

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Solution Overview

Problem

The challenge is to prevent traders from illicitly passing on vocalized market price data to their clients without disrupting the valuable service of vocalizing trading data, as this results in revenue loss for system operators.

Innovation Solution

Incorporating a unique identifier, such as a four-letter trading floor code, vocalized at random intervals to deter clients from accepting data from rogue traders by publicly advertising its origin, thus maintaining the integrity of the data source and deterring illicit data sharing.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Ease of operation

If trading data is vocalised to traders, then traders can keep track of market movements more effectively, but traders can illicitly pass the data to their clients causing revenue loss

Engineering Contradiction:

Improvetrader's ability to track market movementsVSAvoidrevenue loss from illicit data sharing

Core Design Contradiction:

Ease of operationVSLoss of energy

Solution Approach 1:

The system applies preliminary anti-action by vocalizing the trading floor code before illicit data sharing can occur. This creates a deterrent effect where potential recipients of illicit data can identify the source and reject it, preventing the revenue loss before it happens. The trading floor code is vocalized at random intervals during trading sessions, establishing a preventive mechanism against data theft.

Inventive Principle:

Principle #9Preliminary anti-action

2Loss of energy

If vocalisation of trading data is discontinued to prevent revenue loss, then illicit data sharing is prevented, but traders lose the ability to effectively track market movements

Engineering Contradiction:

Improverevenue protectionVSAvoidtrader's ability to track market movements

Core Design Contradiction:

Loss of energyVSEase of operation

Solution Approach 1:

The system segments the vocalised information into two distinct components: trading data (prices, deals) and identification data (trading floor code). The trading data continues to be vocalised for trader assistance, while the trading floor code is vocalized separately at random intervals to provide deterrence against illicit sharing. This segmentation allows both objectives to coexist - traders receive continuous market data while the intermittent code vocalization maintains the deterrent effect.

Inventive Principle:

Principle #1Segmentation

3Reliability

If a unique identifier is vocalised continuously, then illicit data sharing is strongly deterred, but the system complexity and information overload increases

Engineering Contradiction:

Improvedeterrence against illicit data sharingVSAvoidsystem complexity and information overload

Core Design Contradiction:

ReliabilityVSDevice complexity

Solution Approach 1:

Instead of continuous vocalisation, the system employs periodic action by vocalizing the trading floor code at random intervals during trading sessions. This random periodic vocalization maintains the deterrent effect against illicit data sharing while avoiding information overload and reducing system complexity compared to continuous identification vocalization.

Inventive Principle:

Principle #19Periodic action

Data Source

PatentUS8024252B2Vocalisation of trading data in trading systems

Publication Date: 2011.09.20 EBS GROUP LTD

AI summary

A trading system such as an anonymous trading system for trading financial and other instruments can vocalize trading data to trader workstations as well as display it on a screen. Where a trader selects to receive vocal announcements, a trading floor identifier unique to his trading floor is also announced at random intervals.