| CPC G06Q 40/04 (2013.01) | 23 Claims |
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1. An exchange computer system configured to generate and disseminate correlation index data, the exchange computer system comprising:
at least one communication interface that is configured to receive, from one or more remote computing devices connected to the exchange computer system via a computer network, data related to a stock market index;
an index engine coupled to the at least one communication interface, the index engine comprising at least one index engine processor configured to store index engine logic comprising computer-executable instructions that when executed by the at least one index engine processor, cause the index engine to perform processes comprising:
selecting, based on the data related to the stock market index and for a particular period of time, a plurality of component stocks from the stock market index;
determining, based on the data related to the stock market index, a weighting value for each component stock in the plurality of component stocks;
determining, based on options data related to the stock market index, a component stock option volatility for each of a plurality of component stock options and a stock market index option volatility;
generating, for the particular period of time, the correlation index based on the weighting value for each of the plurality of component stocks, the component stock option volatility for each of the plurality of component stock options, and the stock market index option volatility, wherein the correlation index is an options-based measure of likely correlation between the plurality of component stocks and the stock market index; and
securely transmitting data related to the correlation index to at least one user computing device that is connected to the exchange computer system via the computer network and that is configured to display the data related to the correlation index within a graphical user interface of an application, wherein the data related the correlation index configures the graphical user interface of the application of the at least one user computing device to allow continuous real-time trading, through the exchange computer system, of financial instruments related to the correlation index;
an order matching system communicatively coupled to the index engine, the order matching system comprising an order book of open orders for the exchange computer system and at least one first processor, the order matching system configured to determine a matching order of the order book that matches an order for a financial instrument corresponding to the correlation index, wherein the index engine configures the at least one first processor of the order matching system according to the index engine logic to match the order by the matching order based on the data related to the correlation index; and
an order routing system comprising at least one second processor and communicatively coupled to the index engine, wherein the order routing system configured to:
route orders for financial instruments to one or more destinations of the exchange computer system; and
execute the order using the matching order, wherein the index engine configures the at least one second processor of the order routing system according to the index engine logic to route the order to a destination associated with the matching order.
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