System and method for limiting aggressive trading in a electronic trading system
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United States of America Patent
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Sep 28, 2010
Grant Date -
Feb 1, 2007
app pub date -
Jul 27, 2006
filing date -
Jul 29, 2005
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A system for managing trading orders comprises a memory operable to store a trade credit associated with a trader. The system further comprises a processor operable to receive a trading order from the trader and determine the trade credit associated with the trader. If the received trading order is a passive trading order, the processor is further operable to increase the trade credit and submit the received trading order for execution. If the received trading order is an aggressive trading order, the processor is further operable to calculate a decrease of the trade credit. If subtracting the calculated decrease from the trade credit would not cause the trade credit to be less than a configurable threshold, the processor is further operable to submit the received trading order for execution and subtract the calculated decrease from the trade credit. If subtracting the calculated decrease from the trade credit would cause the trade credit to be less than the configurable threshold, the processor is further operable to prevent the execution of the received trading order.
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