US 12,243,100 B2
Systems and methods for implementing a confirmation period
Patricia A. Messina, Chicago, IL (US)
Assigned to Trading Technologies International, Inc., Chicago, IL (US)
Filed by Trading Technologies International, Inc., Chicago, IL (US)
Filed on Nov. 20, 2023, as Appl. No. 18/514,167.
Application 18/514,167 is a continuation of application No. 17/569,411, filed on Jan. 5, 2022, granted, now 11,869,081.
Application 17/569,411 is a continuation of application No. 16/912,129, filed on Jun. 25, 2020, granted, now 11,250,511, issued on Feb. 15, 2022.
Application 16/912,129 is a continuation of application No. 14/163,030, filed on Jan. 24, 2014, granted, now 10,740,839, issued on Aug. 11, 2020.
Application 14/163,030 is a continuation of application No. 13/666,431, filed on Nov. 1, 2012, granted, now 8,682,781, issued on Mar. 25, 2014.
Prior Publication US 2024/0087025 A1, Mar. 14, 2024
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 40/04 (2012.01); G06Q 40/00 (2023.01); G06Q 40/02 (2023.01); G06Q 40/06 (2012.01)
CPC G06Q 40/04 (2013.01) [G06Q 40/00 (2013.01); G06Q 40/02 (2013.01); G06Q 40/06 (2013.01)] 15 Claims
OG exemplary drawing
 
1. A method comprising:
submitting a first order message to a first electronic exchange for a first tradeable object in a quoting leg of a strategy, wherein the first order message includes an order for a quantity of the first tradeable object at a price, and wherein the first electronic exchange maintains an order queue to manage the order pending execution at an order queue position at the first electronic exchange;
monitoring, by a quantity calculation component, an available quantity of a second tradeable object in the lean leg of the strategy for an occurrence of an adjustment condition at a second electronic exchange, wherein the occurrence of the adjustment condition is detected when the available quantity reaches a predefined threshold;
in response to detecting the occurrence of the adjustment condition by a comparator component, preventing execution of an adjustment of the order for the first tradeable object by refraining from sending an order message to the first electronic exchange to adjust the order for the first tradeable object in the quoting leg, and wherein preventing execution of the adjustment maintains the order queue position of the order for the first tradeable object in the order queue at the first electronic exchange, wherein determining whether to execute the adjustment includes:
initiating, by a parameter identifier component, a confirmation period having based on a number of market updates to be received from the second electronic exchange;
evaluating, by the quantity calculation component and the comparator component, an adjustment condition based on the available quantity of the second tradeable object;
terminating, by the parameter identifier component, the confirmation period in response to determining the market updates received from the second electronic exchange equals the number of market updates associated with the confirmation period has been received;
if the adjustment condition is no longer satisfied upon termination of the confirmation period, preventing the adjustment of the order for the first tradeable object in the quoting leg upon determining the expiration of the confirmation period such that the order queue position of the first order is maintained in the order queue at the first electronic exchange; and
if the adjustment condition continues to be satisfied during the confirmation period, executing the adjustment associated with the order for the quoting leg upon determining the expiration of the confirmation period, wherein the adjustment includes sending a second order message to the first electronic exchange, wherein the second order message includes a modified quantity or a modified price for the first tradeable object in the quoting leg.