System and method for computing and displaying effective bid and ask information
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United States of America Patent
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Dec 27, 2011
Grant Date -
Sep 1, 2011
app pub date -
May 11, 2011
filing date -
Jun 25, 2004
priority date (Note) -
In Force
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Abstract
A data feed from an electronic exchange carries certain pieces of market information. Software at the trading station receives the data feed and computes an effective bid price and/or an effective ask price based on a particular quantity to trade. Then, the effective bid price and/or effective ask price are indicated to the user. An effective bid price is an average price at which a certain quantity could be sold based on current market conditions. An effective ask price is an average price at which a certain quantity could be bought based on current market conditions. Depending on the available quantities in the market, the effective prices may represent spreads different from the actual spread of the inside market. This information may be used to, among other things, make more accurate trades at prices. Additionally, a derivative of price, such as yield, may be used to compute other types of effective bid and/or ask information.
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