US 11,704,735 B2
Systems and methods for an electronic auction
Michael Blaugrund, Briarcliff Manor, NY (US); Kevin Tyrrell, Brooklyn, NY (US); John Tuttle, New York, NY (US); and Michael Paulyson, Cranford, NJ (US)
Assigned to NYSE Group, Inc., New York, NY (US)
Filed by NYSE Group, Inc., New York, NY (US)
Filed on Aug. 19, 2021, as Appl. No. 17/406,347.
Claims priority of provisional application 63/068,034, filed on Aug. 20, 2020.
Prior Publication US 2021/0383470 A1, Dec. 9, 2021
Int. Cl. G06Q 40/04 (2012.01); G06Q 40/08 (2012.01); G06F 16/2457 (2019.01); G06F 40/289 (2020.01); G06Q 50/26 (2012.01); G06F 40/205 (2020.01)
CPC G06Q 40/04 (2013.01) [G06F 16/24578 (2019.01); G06Q 40/08 (2013.01); G06F 40/205 (2020.01); G06F 40/289 (2020.01); G06Q 50/26 (2013.01)] 30 Claims
OG exemplary drawing
 
1. A system comprising:
one or more entity systems; and
a computer platform comprising at least one processor and non-transitory memory, the computer platform configured to communicate with the one or more entity systems via one or more computer networks, the computer platform configured to:
receive one or more electronic order messages from among the one or more entity systems, at least one message among the one or more electronic order messages including an order of a predetermined order type comprising sell order information associated with an entity having securities not previously registered for transactions with the computer platform;
analyze, continually and in real-time, the received one or more electronic order messages, said analyze comprising:
parsing the one or more electronic order messages to extract one or more predetermined electronic data elements from among one or more of a message header and a message body, and
identifying from among the extracted one or more predetermined electronic data elements of the one or more electronic order messages, one or more requests for participation in an electronic auction associated with the computer platform, the one or more requests including auction-only order information, at least one request among the one or more requests including the order of the predetermined order type;
verify, continually and in real-time, responsive to said identify, one or more characteristics from among said extracted data elements of the order of the predetermined order type;
route, continually and in real time, the one or more electronic order messages to one or more destinations, responsive to said analyze and said verify, including routing the order of the predetermined order type to an order book storage structure prior to the electronic auction;
determine, at a scheduled auction time, an auction price for the electronic auction;
determine, at the scheduled auction time, whether the sell order information in the order of the predetermined order type meets at least one predetermined auction condition based on the auction price;
when the sell order information meets the at least one predetermined auction condition and the one or more characteristics of said order is verified:
permit the order to participate in the electronic auction, such that the order is executed in full in the electronic auction via an auction engine of the computer platform; and
when the sell order information does not meet the at least one predetermined auction condition:
cancel the electronic auction.