Dissemination of order status information present on an electronic exchange

Patent metadata

Field	Value
Publication number	US-2017004575-A1
Application number	US-201514789527-A
Country	US
Kind code	A1
Filing date	Jul 1, 2015
Priority date	Jul 1, 2015
Publication date	Jan 5, 2017
Grant date	—

Abstract

The disclosed embodiments relate to facilitating the dissemination of order status information to market participants from an Exchange. According to one or more disclosed embodiments, a system or method is provided for monitoring one or more thinly traded products and/or markets and converting the exchange-based order information of a given product or market into instant messages to market participants. When the status of one or more monitored products or markets changes, an instant message is generated reflecting those changes in the market. The instant messages are disseminated to all market participants who have registered interest in the monitored product.

First claim

What is claimed is:

1 . A computer implemented method for providing alerts to at least a subset of a plurality of participants via a network, the method comprising:
providing a data structure stored in a memory and configured to store data indicative of one or more previously received but unsatisfied transactions; providing a match processor coupled with the memory and operative, upon receipt of an incoming transaction, to determine whether one or more previously received but unsatisfied transactions are stored in the data structure which are at least partially counter to the incoming transaction, and, based thereon, store any residual unsatisfied portion of the incoming order or the one or more previously received but unsatisfied orders in the data structure; monitoring, by a monitoring processor coupled with the match processor and the memory, incoming transactions received by the match processor; determining, by the monitoring processor, when an incoming transaction for a monitored product is indicative of a change in the state of a market for the monitored product; generating, by the monitoring processor, when it is determined that the incoming transaction for the monitored product changed the state of the market for the monitored product, a message indicative thereof; and transmitting, by the monitoring processor, the generated message to the subset of the plurality of participants.

2 . The computer implemented method of claim 1 wherein the message is an instant message.

3 . The computer implemented method of claim 2 wherein the instant message is an instant message in a chat room.

4 . The computer implemented method of claim 1 wherein the changed state of the market for the monitored product is a transaction for the monitored product.

5 . The computer implemented method of claim 4 wherein generating the message converts the transaction into the instant message.

6 . The computer implemented method of claim 4 wherein the changed state of the market for the monitored product is an initial transaction for the monitored product.

7 . The computer implemented method of claim 4 wherein the changed state of the market for the monitored product is a satisfied transaction for the monitored product.

8 . The computer implemented method of claim 7 wherein the changed state of the market for the monitored product is an initial satisfied transaction for the monitored product.

9 . The computer implemented method of claim 4 wherein the changed state of the market for the monitored product is one of a plurality of transactions for the monitored product, wherein the total number of transactions in the plurality of transactions is below a threshold number of transactions.

10 . The computer implemented method of claim 1 wherein the changed state of the market for the monitored product is an increase in the product quantity in the unsatisfied transactions increases over a threshold product quantity.

11 . The computer implemented method of claim 1 wherein the changed state of the market for the monitored product is an increase in the product quantity in the unsatisfied transactions increases by a threshold product quantity.

12 . The computer implemented method of claim 1 wherein the changed state of the market for the monitored product is an increase in the number of transactions over a threshold number of transactions.

13 . The computer implemented method of claim 1 wherein the changed state of the market for the monitored product is an increase in the number of transactions by a threshold number of transactions.

14 . The computer implemented method of claim 1 wherein the changed state of the market for the monitored product occurs when the difference between a transaction to buy a product and a transaction to sell a product is less than a threshold amount.

15 . The computer implemented method of claim 1 wherein the changed state of the market for the monitored product occurs when the incoming transaction changes the price of a product by less than a threshold amount.

16 . The computer implemented method of claim 1 wherein the changed state of the market for the monitored product occurs when the incoming transaction changes the price of a product by more than a threshold amount.

17 . A system for providing alerts to at least a subset of a plurality of participants via a network, the system comprising:
first logic stored in a memory to provide a data structure to store one or more previously received but unsatisfied transactions; second logic stored in the memory and executable by the processor to cause the processor to, upon receipt of an incoming transaction, determine whether one or more previously received but unsatisfied transactions are stored in the data structure which are at least partially counter to the incoming transaction, and, based thereon, store any residual unsatisfied portion of the incoming order or the one or more previously received but unsatisfied orders in the data structure; third logic stored in the memory and executable by the processor to cause the processor to monitor incoming transactions received and stored in the data structure; fourth logic stored in the memory and executable by the processor to determine when an incoming transaction for a monitored product is indicative of a change in the state of a market for the monitored product; fifth logic stored in the memory and executable by the processor to generate, when it is determined that the incoming transaction for the monitored product changed the state of the market for the monitored product, a message; sixth logic stored in the memory and executable by the processor to transmit the generated message to the subset of the plurality of participants.

18 . The system of claim 17 wherein the message is an instant message in a chat room.

19 . A system for providing alerts to at least a subset of a plurality of participants via a network, the system comprising:
a data structure stored in a memory and configured to store one or more previously received but unsatisfied transactions; a match processor coupled with the memory and operative, upon receipt of an incoming transaction, to determine whether one or more previously received but unsatisfied transactions are stored in the data structure which are at least partially counter to the incoming transaction, and, based thereon, store any residual unsatisfied portion of the incoming order or the one or more previously received but unsatisfied orders in the data structure; a monitoring processor coupled with the match processor operative to monitor incoming transactions received by the match processor; a determining processor coupled with the monitoring processor operative to determine when an incoming transaction for a monitored product is indicative of a change in the state of a market for the monitored product; a message generation processor coupled to the determining processor operative to generate, when it is determined that the incoming transaction for a monitored product changed the state of the market for the monitored product, a message; and a message transmitter coupled to the message generation processor operative to transmit the generated message to the subset of the plurality of participants.

20 . The system of claim 19 wherein the message is an instant message in a chat room.

Assignees

• Chicago Mercantile Exchange Inc

Inventors

• Repaka Manik
• Bradley James
• Mestanogullari Baris
• Judson Dan
• Bauerschmidt Paul
• Karas Russell
• Pierce Carrick
• Kwan Yu Sang

Classifications

• H04L51/046

  Interoperability with other network applications or services · CPC title

• H04L12/1859

  adapted to provide push services, e.g. data channels · CPC title

• H04L51/04

  Real-time or near real-time messaging, e.g. instant messaging [IM] · CPC title

• G06Q40/04 Primary

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