US 12,299,740 B2
System and method for automated trading of financial interests
Joseph Schmitt, Toronto (CA); and Stephen Bain, Toronto (CA)
Assigned to Cboe Canada Inc., Toronto (CA)
Filed by Cboe Canada Inc., Toronto (CA)
Filed on Nov. 20, 2023, as Appl. No. 18/514,997.
Application 18/514,997 is a continuation of application No. 17/365,968, filed on Jul. 1, 2021, granted, now 11,823,265.
Application 17/365,968 is a continuation of application No. 16/386,153, filed on Apr. 16, 2019, granted, now 11,087,399.
Application 16/386,153 is a continuation of application No. 15/845,721, filed on Dec. 18, 2017, granted, now 10,346,918.
Application 15/845,721 is a continuation of application No. 14/744,243, filed on Jun. 19, 2015, granted, now 9,881,338.
Application 14/744,243 is a continuation of application No. PCT/CA2014/000510, filed on Jun. 20, 2014.
Claims priority of provisional application 61/894,608, filed on Oct. 23, 2013.
Claims priority of provisional application 61/838,763, filed on Jun. 24, 2013.
Claims priority of provisional application 61/838,696, filed on Jun. 24, 2013.
Prior Publication US 2024/0087026 A1, Mar. 14, 2024
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 40/00 (2023.01); G06Q 40/04 (2012.01); G06Q 40/06 (2012.01)
CPC G06Q 40/04 (2013.01) [G06Q 40/06 (2013.01)] 22 Claims
OG exemplary drawing
 
1. A system comprising:
an order entry gateway configured to receive an instruction for a transaction from a participant computing device and transmit an order message containing the instruction for the transaction, wherein the instruction comprises an identification of a participant;
a smart order router configured to:
receive the order message containing the instruction from the order entry gateway;
in response to the instruction having the identification of the participant associated with a first group of participants, generate a latency instruction to hold execution until after expiration of a delay; and
in response to the instruction having the identification of the participant with a second group of participants, route the instruction without delay; and
a trading engine processor configured to receive the order message from the smart order router and request execution of the instruction by a communicatively coupled processor of a venue, wherein the trading engine processor holds the instruction before executing after the expiration of the delay when the participant is associated with the first group of participants.