COMPUTER SYSTEM AND METHOD FOR GENERATING AND EXECUTING ORDERS WITHIN A PRICE RANGE
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United States of America Patent
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Issued Date -
May 10, 2012
app pub date -
Nov 5, 2010
filing date -
Nov 5, 2010
priority date (Note) -
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Abstract
A computer system and method generate orders to be executed in an electronic exchange, and execute the orders. An order data processor processes order data, and an order transmitter transmits an order to the electronic exchange based thereon. The order data includes at least one price limit which specifies a range of prices that is required for the order to be executed. The order is executable within the price range only. If the order is a buy order, the at least one price limit includes a minimum price to execute the buy order, and if the order is a sell order, the at least one price limit includes a maximum price to execute the sell order. The order is added to an order book for being executed at the end of a call auction. A derivatives trader may thus reduce the risk of having incorrect inventory in an underlier.
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