System and Method for Trading Derivatives in Penny Increments While Disseminating Quotes for Derivatives in Nickel/Dime Increments
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United States of America Patent
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N/A
Issued Date -
Oct 24, 2013
app pub date -
Jun 14, 2013
filing date -
May 5, 2005
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A system and method for trading derivatives in penny increments while disseminating quotes for derivatives in nickel/dime increments is disclosed. A trading engine receives quotes for a derivative in penny increments from at least one entity. The trading engine rounds out the quotes for the derivative in penny increments to quotes for the derivative in nickel/dime increments. The quotes in nickel/dime increments are aggregated and disseminated. The trading engine receives bids and offers to take positions in the derivative based on the aggregate quotes for the derivative in nickel/dime increments and executes trades for the derivative by matching bids and offers to buy and sell positions in the derivative.
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