US 11,720,963 B2
Algorithmic model to allow for order completion at settlement or at close using exchange mandated rules for settlement determination
Kristin Kelly, Middletown, NJ (US); and Yuriy Shterk, Cos Cob, CT (US)
Assigned to FIDESSA TRADING UK LIMITED, London (GB)
Filed by FIDESSA TRADING UK LIMITED, London (GB)
Filed on Jan. 13, 2021, as Appl. No. 17/148,013.
Application 17/148,013 is a continuation of application No. 16/405,305, filed on May 7, 2019, granted, now 10,915,956.
Application 16/405,305 is a continuation of application No. 14/939,370, filed on Nov. 12, 2015, granted, now 10,332,207, issued on Jun. 25, 2019.
Claims priority of provisional application 62/079,388, filed on Nov. 13, 2014.
Prior Publication US 2021/0174443 A1, Jun. 10, 2021
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 40/04 (2012.01)
CPC G06Q 40/04 (2013.01) 17 Claims
OG exemplary drawing
 
1. A method for managing one or more Market-On-Close (MOC) orders, comprising:
storing, in a trading system comprising one or more computing devices, one or more settlement rules mandated by one or more exchanges, wherein the one or more settlement rules are associated with one or more financial instruments traded on the one or more exchanges;
displaying, via a graphical user interface coupled with the trading system, an order entry dialog window illustrating one or more definable order parameters for the one or more MOC orders, wherein the one or more definable order parameters comprises a limit price parameter;
receiving, by the trading system, the one or more MOC orders having the one or more definable order parameters, wherein the one or more definable order parameters identify at least the one or more exchanges or a financial instrument;
validating, by the trading system, the one or more MOC orders based on the one or more stored settlement rules mandated by the identified one or more exchanges or the identified financial instrument;
determining, by the trading system, a closing strategy based on the validated one or more MOC orders; and
sending, by the trading system, the validated one or more MOC orders to the one or more exchanges, wherein the trading system is in operable communication with the one or more exchanges.