AUTOMATIC GENERATION OF AN ORDER IN AN INSTRUMENT IN A SPECIFIED CURRENCY
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United States of America Patent
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app pub date -
Jul 26, 2011
filing date -
May 23, 2003
priority date (Note) -
Abandoned
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Abstract
In an automated trading system wherein orders in an instrument in a specified currency are received and a trade in the instrument is performed when, for a certain volume of the instrument, a bid price matches an ask price, a method is provided for automatically generating an order in the instrument in said specified currency. The method comprised the steps of receiving from e.g. a currency market or a market maker a current exchange rate between a currency other than said specified currency and the specified currency; receiving from a trader an order in the instrument in said other currency; calculating a price of the order in the specified currency based on the received order and the current exchange rate; and generating the order in the instrument in the specified currency.
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