| Global trading network -> Monitor Keywords |
|
|
  Global trading networkUSPTO Application #: 20060195386Title: Global trading network Abstract: Methods, systems, and computer readable media for facilitating trading two items (L,Q) from the group of items comprising commodities and financial instruments. At least two agents (2) want to trade the items (L,Q). There is a trading channel (3) between the two agents (2) allowing for the execution of trades. There are flow (trading) limits on the items being traded. A central computer (1) is coupled to the two agents (2). Said computer (1) is adapted to convey to each agent (2) current tradable bid and offered prices and sizes subject to the agent's (2) trading limits. (end of abstract) Agent: Sonnenschein Nath & Rosenthal LLP - Chicago, IL, US Inventors: Arman Glodjo, Nathan D. Bronson, Scott E. Harrington USPTO Applicaton #: 20060195386 - Class: 705037000 (USPTO) Related Patent Categories: Data Processing: Financial, Business Practice, Management, Or Cost/price Determination, Automated Electrical Financial Or Business Practice Or Management Arrangement, Finance (e.g., Banking, Investment Or Credit), Trading, Matching, Or Bidding The Patent Description & Claims data below is from USPTO Patent Application 20060195386. Brief Patent Description - Full Patent Description - Patent Application Claims
RELATED APPLICATIONS [0001] This application is a continuation of U.S. patent application Ser. No. 10/741,735, filed Dec. 18, 2003, which is a divisional of U.S. patent application Ser. No. 10/005,609, filed Nov. 7, 2001 and is also related to and claims priority upon U.S. provisional patent application Ser. No. 60/249,796 filed Nov. 17, 2000 and U.S. provisional patent application Ser. No. 60/288,310 filed May 2, 2001, all of which patent applications are hereby incorporated by reference in their entireties into the present patent application. TECHNICAL FIELD [0002] This invention pertains to the field of global electronic trading of commodities and financial instruments. BACKGROUND ART [0003] Wright, Ben, "Unlocking the C2C forex riddle", euromoney.com, Jul. 25, 2001, U.K., provides a general discussion of some of the business aspects of the present invention. [0004] Morris, Jennifer, "Forex goes into future shock", Euromoney, October 2001, gives a general description of several computerized foreign exchange platforms, including one described in the present patent application. [0005] Ahuja, R. K., Magnanti, T. L., and Orlin, J. B., Network Flows, Theory, Algorithms, and Applications, Chapters 7 and 9 (Prentice-Hall, Inc. 1993), U.S.A., sets forth some algorithms that may be useful in implementing the present invention. [0006] U.S. Pat. No. 5,375,055 discloses a relatively simple trading system that is capable of implementing only single-hop trades. On the other hand, the present invention can accommodate multi-hop trades. Further, in U.S. Pat. No. 5,375,055, the user is given information that suggests to him that he can take a trade when he may not have enough credit to take the whole trade. In the present invention, on the other hand, if only part of a trade can be executed, that information is given to the user; the user knows that he has enough credit to execute at least the best bid and best offer that are displayed on his computer. [0007] An even simpler trading system is disclosed in European patent application 0 411 748 A2 and in granted European patents 0 399 850 B1 and 0 407 026 B1, all three of which are assigned to Reuters Limited. These Reuters documents describe a system in which information concerning a potential trade is displayed even if the user can't execute it at all. In the present invention, such a potential trade would not be displayed at all. Furthermore, the only credit limits that can be accommodated in the Reuters system are volume limits for the purposes of limiting settlement risk. In the present invention, any agent may set credit limits in multiple ways so as to limit not only settlement risk (measured both by individual instrument volumes and by notional absolute values) but also exposure risk. Furthermore, the Reuters keystations require a human operator. In the present invention, on the other hand, an API (application programming interface) enables any participant to develop programs which partially or fully automate the trading process. DISCLOSURE OF INVENTION [0008] Methods, systems, and computer readable media for facilitating trading two items (L,Q) from the group of items comprising commodities and financial instruments. At least two agents (2) want to trade some instrument L at some price quoted in terms of another instrument Q. The exchange of L and Q is itself a financial instrument, which is referred to as a traded instrument. A trading channel (3) between the two agents (2) allows for the execution of trades. Associated with each channel (3) are trading limits configured by the two agents (2) in order to limit risk. A central computer (1) coupled to the two agents (2) is adapted to convey to each agent (2) current tradable prices and available volumes for the exchange of L for Q and for the exchange of Q for L, taking into account the channel (3) trading limits. The central computer (1) facilitates trades that occur across a single trading channel (3) and trades that require the utilization of multiple trading channels (3). BRIEF DESCRIPTION OF THE DRAWINGS [0009] These and other more detailed and specific objects and features of the present invention are more fully disclosed in the following specification, reference being had to the accompanying drawings, in which: [0010] FIG. 1 is a block diagram illustrating a "type zero" trading system embodiment of the present invention. [0011] FIG. 2 is a block diagram illustrating a "type 1" trading system embodiment of the present invention. [0012] FIG. 3 is a block diagram illustrating a "type 2" trading system embodiment of the present invention. [0013] FIG. 4 is a block diagram illustrating a "type 2" back-to-back trade using the present invention. [0014] FIG. 5 is a block diagram illustrating an interlocking network of type 1 and type 2 atomic units. [0015] FIG. 6 is a schematic diagram illustrating trading limits for a traded instrument being traded between four agents 4,5 using three trading channels 3. [0016] FIG. 7 is a block diagram illustrating various ways that agents 2 can be connected to enable them to use the present invention. [0017] FIG. 8 is a timeline illustrating an embodiment of the matching process used in the present invention. [0018] FIGS. 9A and 9B are a block diagram illustrating an embodiment of the border outpost process of the present invention. [0019] FIG. 10 is a deal fulfillment graph. Continue reading... Full patent description for Global trading network Brief Patent Description - Full Patent Description - Patent Application Claims Click on the above for other options relating to this Global trading network patent application. ###  How KEYWORD MONITOR works... a FREE service from FreshPatents1. Sign up (takes 30 seconds). 2. Fill in the keywords to be monitored. 3. Each week you receive an email with patent applications related to your keywords. Start now! - Receive info on patent apps like Global trading network or other areas of interest. ### Previous Patent Application: Click based trading with market depth display Next Patent Application: Method for providing auction service via the internet and a system thereof Industry Class: Data processing: financial, business practice, management, or cost/price determination ### FreshPatents.com Support Thank you for viewing the Global trading network patent info. IP-related news and info Results in 1.93953 seconds Other interesting Feshpatents.com categories: Tyco , Unilever , Warner-lambert , 3m |
||
