US 11,869,085 B2
Transactionally deterministic high speed financial exchange having improved, efficiency, communication, customization, performance, access, trading opportunities, credit controls, and fault tolerance
Ari Studnitzer, Northbrook, IL (US); Zachary Bonig, Skokie, IL (US); Ryan Eavy, Chicago, IL (US); Frank Kmiec, Carey, IL (US); Barry Galster, Chicago, IL (US); and Paul Callaway, Chicago, IL (US)
Assigned to Chicago Mercantile Exchange Inc., Chicago, IL (US)
Filed by Chicago Mercantile Exchange Inc., Chicago, IL (US)
Filed on Dec. 5, 2022, as Appl. No. 18/074,647.
Application 18/074,647 is a continuation of application No. 17/691,381, filed on Mar. 10, 2022, granted, now 11,551,303.
Application 17/691,381 is a continuation of application No. 17/097,065, filed on Nov. 13, 2020, granted, now 11,308,557, issued on Apr. 19, 2022.
Application 17/097,065 is a continuation of application No. 16/440,016, filed on Jun. 13, 2019, granted, now 10,878,502, issued on Dec. 29, 2020.
Application 16/440,016 is a continuation of application No. 14/074,670, filed on Nov. 7, 2013, granted, now 10,366,452, issued on Jul. 30, 2019.
Prior Publication US 2023/0117483 A1, Apr. 20, 2023
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 40/00 (2023.01); G06Q 40/04 (2012.01)
CPC G06Q 40/04 (2013.01) 28 Claims
OG exemplary drawing
 
1. A system comprising:
a processor coupled with a hardware device through which electronic messages are communicated to a communications network and comprising executable instructions that when executed by the processor, cause the processor to:
receive, at a first time from a match engine external to and remote from the hardware device, an electronic response message for communication via the communications network to a particular market participant of a plurality of market participants, indicative of a response by an electronic marketplace to a request for a financial transaction previously received from the particular market participant;
receive, at a second time from the match engine, an electronic financial message, corresponding to the electronic response message and comprising data indicative of a change in state of the electronic marketplace based on the response to the request by the electronic marketplace, for communication via the communications network to all of the plurality of market participants, the electronic financial message not identifying the particular market participant;
store, in a memory, and not transmit the received electronic response message when the received electronic response message is received prior to receipt of the electronic financial message; and
transmit, upon receipt, the received electronic financial message to all of the plurality of market participants via the communications network and store, in the memory, data indicative thereof when the received electronic financial message is received prior to receipt of the electronic response message, wherein upon subsequent or contemporaneous receipt of the received electronic response message, the received electronic response message is transmitted to the particular market participant based on the stored data indicative of the received electronic financial message; and further
wherein the received electronic response message is prevented from being transmitted to the particular market participant prior to transmission of the received electronic financial message to all of the plurality of market participants.