US 12,260,459 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 Oct. 25, 2024, as Appl. No. 18/926,609.
Application 18/926,609 is a continuation of application No. 18/620,115, filed on Mar. 28, 2024.
Application 18/620,115 is a continuation of application No. 18/200,277, filed on May 22, 2023, granted, now 11,978,120, issued on May 7, 2024.
Application 18/200,277 is a continuation of application No. 17/406,347, filed on Aug. 19, 2021, granted, now 11,704,735, issued on Jul. 18, 2023.
Claims priority of provisional application 63/068,034, filed on Aug. 20, 2020.
Prior Publication US 2025/0045827 A1, Feb. 6, 2025
Int. Cl. G06Q 40/04 (2012.01); G06F 16/2457 (2019.01); G06F 40/205 (2020.01); G06F 40/289 (2020.01); G06Q 40/08 (2012.01); G06Q 50/26 (2024.01)
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)] 21 Claims
OG exemplary drawing
 
1. A system comprising:
a computer platform comprising at least one processor and non-transitory memory, the computer platform configured to communicate with one or more entity systems via one or more computer networks, the computer platform configured to;
parse one or more data elements of a plurality of electronic messages associated with the one or more entity systems to determine one or more destinations of the plurality of electronic messages;
detect, via the one or more data elements, that a message of the plurality of electronic messages includes: a) a request for participation in an electronic auction and b) an order of a predetermined sell order type associated with an entity having securities not previously registered for transactions with the computer platform;
verify that the detected message includes one or more predefined characteristics to form a verified order, the one or more predefined characteristics comprising at least one entity characteristic indicated in the detected message;
route, continually and in real time, the plurality of electronic messages to the one or more destinations, including routing the verified order to an order book storage structure prior to the electronic auction;
determine, at a scheduled auction time, whether sell order information in the verified order meets at least one predetermined auction condition based on an auction price; and
permit the verified order to participate in the electronic auction when the sell order information meets the at least one predetermined auction condition.