U.S. patents available from 1976 to present.
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System and method for trading having a principal market maker

Patent 5963923 Issued on October 5, 1999. Estimated Expiration Date: Icon_subject June 3, 2017. 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

Automated securities trading system
Patent #: 4674044
Issued on: 06/16/1987
Inventor: Kalmus ,   et al.

International commodity trade exchange
Patent #: 4677552
Issued on: 06/30/1987
Inventor: Sibley, Jr.

Automated futures trading exchange
Patent #: 4903201
Issued on: 02/20/1990
Inventor: Wagner

Electronic apparatus with currency conversion function
Patent #: 4926368
Issued on: 05/15/1990
Inventor: Morita, et al.

Voice actuated automated futures trading exchange
Patent #: 4980826
Issued on: 12/25/1990
Inventor: Wagner

Trading ticket output system
Patent #: 5003473
Issued on: 03/26/1991
Inventor: Richards

Distributed matching system
Patent #: 5077665
Issued on: 12/31/1991
Inventor: Silverman, et al.

Automated system for providing liquidity to securities markets
Patent #: 5101353
Issued on: 03/31/1992
Inventor: Lupien, et al.

System for conducting and processing spot commodity transactions
Patent #: 5168446
Issued on: 12/01/1992
Inventor: Wiseman

Trading system for providing real time context sensitive trading messages based on conversation analysis
Patent #: 5195031
Issued on: 03/16/1993
Inventor: Ordish

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Inventor

Application

No. 868200 filed on 06/03/1997

US Classes:

705/37, Trading, matching, or bidding235/379, Banking systems235/380, Credit or identification card systems705/35Finance (e.g., banking, investment or credit)

Examiners

Primary: MacDonald, Allen R.
Assistant: Patel, Jagdish

Attorney, Agent or Firm

Foreign Patent References

  • 0 388 162 A2 EP. 09/12/1990
  • 0 411 748 A2 EP. 02/12/1991
  • 0 434 224 A2 EP. 06/12/1991
  • 0 512 702 A2 EP. 11/12/1992
  • WO 94/18640 WO. 08/12/1994
  • WO 9605563A1 WO. 02/12/1996
  • WO 96/21903 WO. 07/12/1996

International Class

G06F 015/30

Abstract

A system and method is provided for linking a Rolling Spot Currency contract with a Principle Market Maker program. In one aspect of the invention, the system includes an electronic brokerage and trading network having at least one computer coupled to receive and transmit bids and offers for international currency trading; a display terminal and input; and a principal market maker computer coupled to the electronic brokerage and trading network wherein the principal market maker computer is operative to receive and transmit the bids and offers and execute international currency trades by maintaining a market for such currencies. In another aspect of the invention, the method includes the steps of receiving and transmitting bids and offers for publicly traded currencies; storing the received bids and offers in a memory; identifying and executing the matching bids and offers; and identifying unmatched bids and offers and providing a complementary trade to maintain a market for such currencies.

Other References

  • Hakansson et al.; "On the Feasibility of Automated Market Making by a Programmed Specialist", The Journal of Finance, vol. XL, No. 1, Mar. 1985
  • Howard Barbara; The Trade: Technology aims to take the Final Step. (Automation of Stck Exchanges), Institutional Investor, v25, No. 1, P. S15(2), Sep. 1984
  • Freund, William C.; "Trading stock around the Clock: the Future Growth of Global Electronic Markets", California Management Review, v34, N1, p. 87 (16), Fall 199
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