Patent №
US 11,615,471
Granted
2023-03-28
Filed 2022
Owner
ARCHIPELAGO HOLDINGS, INC.
+1 more
Lab
—
AI components
1
planning
Assignment
Recorded
Dataset
AIPD
2023_r1 edition
Application
17887878
An unpriced order auction and related market center and process are disclosed which allow posting market centers (e.g., exchanges) to schedule an auction that includes unpriced (Market) orders only. Such unpriced order auction executes at the midpoint of the NBBO, ensuring that the cross reflects the best prices in the entire marketplace, while discouraging the manipulation of the auction price on the posting market center. The disclosed auction also executes concurrently, but separately from the regular continuous matching process.
AI classification
Ownership
ARCHIPELAGO HOLDINGS, INC.
assignment · 608080422
NYSE GROUP, INC.
merger · 608080653
Assignors
ADCOCK, PAUL D., CORMACK, MICHAEL A., HALLER, THOMAS F., HILL, ROBERT A.
On an employer assignment, the assignors are typically the inventors.