首页>
外国专利>
DELAY-FREE MATCHING FOR DEEMPHASIZING EFFECTS OF SPEED DIFFERENTIALS AMONG PRICE-MAKERS
DELAY-FREE MATCHING FOR DEEMPHASIZING EFFECTS OF SPEED DIFFERENTIALS AMONG PRICE-MAKERS
展开▼
机译：无延迟匹配，以防止价格差异因素对速度差异的影响
展开▼
页面导航
摘要
著录项
相似文献
摘要
#$%^&*AU2018208621A120191017.pdf#####ABSTRACT OF THE DISCLOSURE The invention relates to improved computer systems that mitigate the effects of computational incongruencies of computers connected to an Electronic Trading Venue ("ETV") based on selection of orders, received at the electronic training venue via a network from the computers, using randomization and delay-free mechanisms. To address High Frequency Trading and improve the efficiency of the computer system of an ETV, the system may immediately, without introducing a batching or randomization delay, place maker orders into an electronic order book. If a taker order is received that is price-compatible with previously received maker orders in the electronic order book, the system may batch the maker orders in the electronic order book for randomization. As such, batching and randomization processes do not use network and computational resources of the computer system unless they are actually necessary, and are typically not employed when maker orders are canceled after their initial entry into the electronic order book.400 RECEIVING A TAKER ORDER FOR A FINANCIAL INSTRUMENT, THE 402- TAKER ORDER SPECIFYING A PRICE OF THE FINANCIAL INSTRUMENT THAT TRIGGERS MATCHING WITH ONE OR MORE MAKER ORDERS FOR THE FINANCIAL INSTRUMENT IDENTIFYING MULTIPLE MAKER ORDERS RELATING TO THE FINANCIAL 404, INSTRUMENT IN AN ELECTRONIC ORDER BOOK BASED ON THE PRICE, EACH MAKER ORDER PLACED IN THE ELECTRONIC ORDER BOOK WITHOUT DELAY UPON RECEIPT AT THE COMPUTER SYSTEM ANALYZING THE PAYLOAD OF EACH OF THE MULTIPLE MAKER 406, ORDERS IN THE ELECTRONIC ORDER BOOK TO OBTAIN THEIR RESPECTIVE TIMESTAMPS GENERATING, RESPONSIVE TO RECEIPT OF THE TAKE ORDER, AN 408- ORDER BATCH QUEUE COMPRISING AT LEAST A FIRST MAKER ORDER AND A SECOND MAKER ORDER FROM AMONG THE MULTIPLE MAKER ORDERS BASED ON THE ANALYZING 410,-' RANDOMIZING AN ORDER OF THE ORDER BATCH QUEUE MATCHING AT LEAST ONE OF THE MAKER ORDERS IN THE ORDER 412, BATCH QUEUE WITH THE TAKER ORDER BASED ON THE RANDOMIZING FIG. 4
展开▼
