Electronic outcry messaging for electronic trading

Patent metadata

Field	Value
Publication number	US-11030688-B2
Application number	US-201414454499-A
Country	US
Kind code	B2
Filing date	Aug 7, 2014
Priority date	Aug 7, 2014
Publication date	Jun 8, 2021
Grant date	Jun 8, 2021

Abstract

Methods, devices, and systems for facilitation of communication between participants of an electronic marketplace involve receiving a message generated from a market participant and transmitting the message to other market participants. The facilitation also involves receiving responses to the message from the other market participants and transmitting the responses to the message originating market participant such that the transmitted response is imperceptible to the other market participants.

First claim

What is claimed is:

1. A computer implemented method for automatic restricted distribution of electronic messages among a subset of a plurality of market participants in an electronic communications system, the method comprising:
receiving, by a specifically configured processor coupled with the electronic communications system, an electronic request from each of the subset of the plurality of market participants to be enabled by the electronic communications system to generate unsolicited electronic messages not responsive to another electronic message, copies of which will be transmitted via the electronic communications system to each other market participant of the subset of the plurality of market participants, and to receive copies of unsolicited electronic messages generated by any other market participant of the subset of the plurality of market participants that has been enabled by the electronic communications system to generate unsolicited electronic messages, copies of which will be transmitted via the electronic communications system to each other market participant of the subset of the plurality of market participants;
receiving, by the processor via the electronic communications system, a first electronic message generated by a market participant of the subset of the plurality of market participants, the first electronic message not being responsive to another message previously communicated to the market participant;
determining, by the processor, that the received first electronic message is unsolicited based on the first electronic message not being responsive to another previously received electronic message;
transmitting, automatically by the processor via the electronic communications system based on the determination that the received first electronic message is unsolicited, the received first electronic message to all other market participants of the subset of the plurality of market participants;
receiving, by the processor via the electronic communications system, a second electronic message generated by another of the subset of the plurality of market participants responsive to the first electronic message;
determining, by the processor that the second electronic message is a solicited message based on the second electronic message being responsive to the first electronic message; and
transmitting, automatically by the processor via the electronic communications system subsequent to the receipt thereof based on the determination that the second electronic message is a solicited message responsive to the first electronic message, the second electronic message only to the market participant who generated the first electronic message, the electronic second message not being transmitted via the electronic communications system to the others of the subset of the plurality of market participants.

2. The computer implemented method of claim 1 , wherein the first electronic message relates to an offer to buy or sell a product in an electronic marketplace communicated to the subset of the plurality of market participants, the second electronic message comprising a response to the offer to buy or sell from one of the plurality of market participants.

3. The computer implemented method of claim 2 , further comprising:
generating the first electronic message in response to a selection of the offer to buy or sell the product.

4. The computer implemented method of claim 3 , wherein the first electronic message comprises data descriptive of the offer to buy or sell the product.

5. The computer implemented method of claim 4 , wherein the data descriptive of the offer to buy or sell the product comprises text indicating a price associated with the product.

6. The computer implemented method of claim 5 , wherein the text indicating a price associated with the product is the current best-bid-offer (“BBO”) at a time of generation of the first electronic message.

7. The computer implemented method of claim 2 , wherein the first electronic message includes actionable data that when activated is configured to execute an action in the electronic marketplace.

8. The computer implemented method of claim 7 , wherein the actionable data is configured to accept the offer to buy or sell the product in the electronic marketplace.

9. The computer implemented method of claim 1 , wherein the second electronic message includes actionable data that when activated is configured to execute an action in the electronic marketplace.

10. The computer implemented method of claim 1 , wherein the requests to generate unsolicited electronic messages and to receive copies of unsolicited electronic messages is a request to join a consolidated communication forum, and the consolidated communication forum is coupled with a particular market for a product in an electronic marketplace.

11. The computer implemented method of claim 1 , further comprising:
associating with the first electronic message, data indicative of the transmission of the first electronic message to the other market participants of the subset of the plurality of market participants.

12. The computer implemented method of claim 1 , further comprising:
receiving a request from at least one market participant of the subset of the plurality of market participants to stop receiving transmissions of electronic messages via the electronic communications system;
wherein the at least one market participant is prevented from accessing electronic messages transmitted via the electronic communications system during a time subsequent to receipt of the request to stop receiving transmissions of electronic messages and receipt of a subsequent request to resume receiving transmissions of electronic messages via the electronic communications system.

13. A system for automatic restricted distribution of electronic messages between a plurality of market participants in an electronic communications system, the system comprising:
at least one memory operable to store electronic messages and responses thereto; and
at least one processor coupled with the at least one memory and the electronic communications system and configured to:
receive data from each of a plurality of market participants indicating a request to join a consolidated communication forum implemented by the electronic communications system wherein the plurality of market participants can exchange electronic messages;
receive, via the electronic communications system, a first electronic message generated by a market participant of the plurality of market participants, the first electronic message not being responsive to another message previously communicated to the market participant;
store the received first electronic message in the at least one memory;
determine that the stored received first electronic message is unsolicited based on the stored received first electronic message not being responsive to another previously received electronic message;
transmit, automatically based on the determination that the stored received first electronic message is unsolicited, the stored received first electronic message from the at least one memory to all other of the plurality of market participants via the electronic communications system;
receive, via the electronic communications system, a second electronic generated by another market participant of the plurality of market participants responsive to the first electronic message previously communicated to the other market participant;
store the received second electronic message in the at least one memory;
determine that the stored received second electronic message is solicited based on the stored received seco

Assignees

• Chicago Mercantile Exchange Inc

Inventors

• Judson Daniel
• Kumar Prashant

Classifications

• G06Q40/04 Primary

  Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange · CPC title