US 11,861,711 B2
Auctioning mechanisms for dark order block trading
Alicia Suminski, Paris (FR); and Anais Fabienne Christiane Dony, Vincennes (FR)
Assigned to NYSE Holdings LLC, Atlanta, GA (US)
Filed by NYSE Holdings LLC, Atlanta, GA (US)
Filed on Apr. 18, 2023, as Appl. No. 18/135,824.
Application 18/135,824 is a continuation of application No. 17/848,492, filed on Jun. 24, 2022, granted, now 11,676,208.
Application 17/848,492 is a continuation of application No. 17/378,908, filed on Jul. 19, 2021, granted, now 11,397,990, issued on Jul. 26, 2022.
Application 17/378,908 is a continuation of application No. 17/218,493, filed on Mar. 31, 2021, granted, now 11,170,442, issued on Nov. 9, 2021.
Application 17/218,493 is a continuation of application No. 14/542,726, filed on Nov. 17, 2014, granted, now 11,030,689, issued on Jun. 8, 2021.
Application 14/542,726 is a continuation of application No. 14/191,765, filed on Feb. 27, 2014, granted, now 10,304,132, issued on May 28, 2019.
Application 14/191,765 is a continuation in part of application No. 14/139,724, filed on Dec. 23, 2013, granted, now 10,269,067, issued on Apr. 23, 2019.
Claims priority of provisional application 61/784,222, filed on Mar. 14, 2013.
Claims priority of provisional application 61/746,486, filed on Dec. 27, 2012.
Prior Publication US 2023/0252563 A1, Aug. 10, 2023
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 40/04 (2012.01)
CPC G06Q 40/04 (2013.01) 30 Claims
OG exemplary drawing
 
1. A computer system comprising:
a processor operatively coupled to a memory, the memory storing instructions that, when executed by the processor, cause the computer system to:
monitor market data in an electronic market;
initiate an online auction responsive to at least one predetermined market condition based on the monitored market data, the online auction having a duration that is unknown to market participants;
receive one or more firm limit orders from one or more computer devices associated with the market participants;
store, in an order book, the one or more firm limit orders received during the duration of the online auction;
screen, from the order book, the stored orders by comparing order data in the stored orders against a reference price to identify eligible firm limit orders and ineligible firm limit orders among the stored orders;
remove, from the order book, the ineligible firm limit orders among the one or more firm limit orders received during the duration of the online auction based on the comparison against the reference price; and
execute, from the order book, only a remainder of the one or more firm limit orders stored in the order book identified as the eligible firm limit orders.