DYNAMIC ORDER VISIBILITY SYSTEM FOR THE TRADING OF ASSETS
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United States of America Patent
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N/A
Issued Date -
May 15, 2003
app pub date -
Aug 31, 1999
filing date -
Aug 31, 1999
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
The disclosed invention is a new method and mechanism for a marketplace of buyers and sellers of any asset, and in particular financial instruments. The invention includes a user specified, computer-aided control over the visibility and matching of buy and sell orders. In a marketplace, particularly one with illiquid assets, a participant wants his order to be shown to potentially interested participants such that a trade can take place. However, the participant wants this order treated with discretion, so that his trading information does not get into the hands of non-interested parties who may take advantage of the information, thus causing adverse price movement. The mechanism and business method disclosed herein allow the user to enter a buy or sell order along with parameters, including a visibility group, which guide a computer program to distribute information about this order to desired parties. The mechanism can be used for the trading of any financial asset, including but not limited to, bonds, stocks, foreign exchange, commodities, futures, and options.
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