SYSTEM AND METHOD FOR TRADING DERIVATIVES IN PENNY INCREMENTS WHILE DISSEMINATING QUOTES FOR DERIVATIVES IN NICKEL/DIME INCREMENTS
Patent №
US 8,489,489
Granted
2013-07-16
Filed 2006
Owner
CHICAGO BOARD OPTIONS EXCHANGE, INCORPORATED
+1 more
Lab
—
AI components
1
kr
Assignment
Recorded
Dataset
AIPD
2023_r1 edition
Application
11416711
A system and method for trading derivatives in penny increments while disseminating quotes for derivatives in nickel/dime increments is disclosed. A trading engine receives quotes for a derivative in penny increments from at least one entity. The trading engine rounds out the quotes for the derivative in penny increments to quotes for the derivative in nickel/dime increments. The quotes in nickel/dime increments are aggregated and disseminated. The trading engine receives bids and offers to take positions in the derivative based on the aggregate quotes for the derivative in nickel/dime increments and executes trades for the derivative by matching bids and offers to buy and sell positions in the derivative.
AI classification
Ownership
CHICAGO BOARD OPTIONS EXCHANGE, INCORPORATED
assignment · 306080985
CBOE EXCHANGE, INC.
namechg · 447420576
Assignors
TILLY, EDWARD T.
On an employer assignment, the assignors are typically the inventors.