Two-way wireless system for financial industry transactions
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United States of America Patent
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Jun 22, 1999
Issued Date -
N/A
app pub date -
Feb 23, 1998
filing date -
Sep 20, 1994
priority date (Note) -
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status (Latency Note)
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Abstract
A method of managing the activities of one or more floor brokers situated on the floor of an exchange is disclosed. In one respect, the method uses a programmed computer to compare a relative number of instructions having a pending status that have been delegated to the floor brokers and find the floor broker having comparatively few pending instructions. The computer then delegates a further instruction to the floor broker that has been found. Typical instructions that may be managed by the inventive method may be quotation requests, quotations, orders, partial executions, and executions. A related method enables an operator to delegate instructions to one of plural floor brokers by providing the operator with a computer and the floor brokers with two-way communication devices and by receiving at the operator's computer current-status information on any delegated instructions and automatically displaying that information at the computer.
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