Electronic trading system restricting trading orders
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United States of America Patent
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Jun 17, 2014
Grant Date -
Mar 10, 2011
app pub date -
Nov 15, 2010
filing date -
Aug 4, 2004
priority date (Note) -
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status (Latency Note)
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Abstract
According to one embodiment, a method of managing trading is provided. In a market for a particular type of instrument, buy orders and sell orders are received from a plurality of traders. Each buy order has an associated bid price and each sell order has an associated offer price. A determination is made of whether the particular trading order is an outlying trading order by determining whether the particular trading order differs from at least one comparison price by more than a threshold value. If it is determined that the particular trading is an outlying trading order, a restrictive action is taken regarding the outlying trading order. For example, if a trader subsequently submits another trading order that would trade with the outlying trading order, an alert message may be sent to the trader and the subsequent trading order may be prevented from trading with the outlying trading order at least temporarily.
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