SYSTEMS AND METHODS FOR MATCHING ONE OR MORE INCOMING ORDER TO A STANDING ORDER AS A FUNCTION OF AN INNER MARKET PARAMETER

A method of order allocation, including the steps of receiving an incoming order, establishing an inner market representing a first portion of an order which may be defined as a function of an inner market parameter, designating the first portion of the order as a priority, allocating the first port...

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Bibliographische Detailangaben
Hauptverfasser:	CZUPEK, ANDREW P, MCCABE, THOMAS G, KANE, TROY C, KRONSTEIN, JONATHAN G, WOLF, BRIAN M, CUBA, DONALD M, DURKIN, BRYAN T
Format:	Patent
Sprache:	eng ; fre
Schlagworte:	CALCULATING COMPUTING COUNTING DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES PHYSICS SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:	A method of order allocation, including the steps of receiving an incoming order, establishing an inner market representing a first portion of an order which may be defined as a function of an inner market parameter, designating the first portion of the order as a priority, allocating the first portion of the received incoming order based on the priority, establishing an outer market that represents a second portion of the order that includes the remainder of the order not represented by the inner market of the order book, assigning the received incoming order to one of the inner or outer markets as a function of the inner market parameter, allocating a first portion of the incoming order to the inner market utilizing a FIFO algorithm, and allocating a second portion, in excess of the first portion, of the incoming order to the outer market using a pro-rata algorithm