System and method for managing trading orders received from market makers
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United States of America Patent
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Aug 26, 2014
Grant Date -
Apr 11, 2013
app pub date -
Jun 11, 2012
filing date -
Jul 21, 2004
priority date (Note) -
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Abstract
According to one embodiment, a method of managing trading is provided. A first offer for a particular instrument in a particular market is received from a first market maker at a first offer price. A first bid for the same particular instrument in the same particular market is received from a second market maker at a first bid price, the first bid price being higher than or equal to the first offer price. As a result of the first bid price being higher than or equal to the first offer price, the first offer price is automatically increased to a price higher than the first bid price such that a trade is not executed between the first offer and the first bid. In some embodiments, such method may be used to protect market makers from unwanted trades caused by inherent latency in the market makers' pricing engines and/or networks.
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