Automated stock exchange
Patent 4412287 Issued on October 25, 1983. Estimated Expiration Date: 
September 15, 2002. Estimated Expiration Date is calculated based on simple USPTO term provisions. It does not account for terminal disclaimers, term adjustments, failure to pay maintenance fees, or other factors which might affect the term of a patent.
September 15, 2002. Estimated Expiration Date is calculated based on simple USPTO term provisions. It does not account for terminal disclaimers, term adjustments, failure to pay maintenance fees, or other factors which might affect the term of a patent.Patent References 3259886 3378820 3573747 3581072 3848233 InventorApplicationNo. 06/418297 filed on 09/15/1982US Classes:705/37Trading, matching, or biddingExaminersPrimary: Gruber, Felix D.Attorney, Agent or FirmInternational ClassH04L 12/18 (20060101)AbstractAn automated stock exchange in which a computer matches buy and sell orders for a plurality of stocks. An open board simultaneous trading environment is simulated through two stages. The first stage is an order accumulation period which is continuously in operation except for one stock in the second stage. The second stage is an extremely rapid sequential call through. All orders for a given stock are available to customers during the first stage. During the second stage market orders are matched with market orders, then market orders are traded against limit orders as the trading price changes within controlled ranges. The system will also process stop orders, and other specialized transactions. | |
