Integrated order matching system combining visible and hidden parameters
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United States of America Patent
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Feb 12, 2013
Grant Date -
Oct 27, 2005
app pub date -
Aug 30, 2004
filing date -
Apr 23, 2004
priority date (Note) -
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status (Latency Note)
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Abstract
The invention provides back-end functionality for order processing in electronic order book trading. A sell/buy order is received comprising a lower/upper limit and a conditional lower/upper limit defining a conditional selling/buying price range for executing the sell/buy order under certain selling/buying conditions. It is determined whether the selling/buying conditions are fulfilled, including determining whether the sum of the first and second part of the buy/sell order is superior or equal to a threshold volume. The sell/buy order and the buy/sell order are executed against each other if at least the selling/buying conditions are fulfilled. Embodiments allow rapidly executing large trading interests with minimized market impact and opportunity costs.
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