Abstract: The system and methods for optimizing the effectiveness of interaction between participants in an electronic trading environment are disclosed. In one embodiment, the system monitors and tracks certain variables at several levels (e.g., firm, trader, trade desk, symbol, side, order type) for each participant in the system, updates the values of the variables in real time and/or over longer periods. From the values of the variables, the system assigns individual and composite scores to each trader, symbol or side or any composite of these and other variables. For every interaction in the trading environment, the scores and variables are used to determine how a trader interacts with a contra trader when their respective scores are compared, including determining permissioning and timing of sending invitations to trade, permissioning and timing of receiving invitations to trade and/or execution of the trade.
Type:
Grant
Filed:
June 5, 2014
Date of Patent:
September 8, 2020
Assignee:
Bids Trading, L.P.
Inventors:
Mark Beddis, Jim Lee, Sik Ngai, Tim Mahoney
Abstract: A system and method are described and disclosed that are used for effecting large block trades of securities in an automated and anonymous matter in which fair pricing is carried out using features of the National Best Buy Offer (“NBBO”). The automated trading the system and method also will carry out negotiations to effect a trade in certain circumstances, though the preferred method of effecting trades is by automated trading. However, regardless of the trading method, anonymity of the trading counterparties is preserved. The system and method also tests the NBBO for each of the traded securities to ensure it is valid before an automated trade may take place.
Type:
Grant
Filed:
January 27, 2011
Date of Patent:
February 19, 2013
Assignee:
BIDS Trading, L.P.
Inventors:
Paul Hanson, James Bird, James Lee, Mark Beddis, Sik Ngai, Geoff Kratz
Abstract: A computer-implemented system and method are described for real-time portfolio balancing and/or optimization of portfolio holdings, preferably in Alternative Trading Systems (ATSs), that reduces execution risk and legging risk. The computer-implemented system and method also incorporate cash constraints to assist in reducing execution risks. A computer-implemented system and method include advantages such as exposure to broad market liquidity throughout the trading day, being dynamic so that a strategy can be adjusted depending on market conditions, the reduction of execution and legging risks, optimal fills, and limited market impact.
Abstract: A system and method are described and disclosed that are used for effecting large block trades of securities in an automated and anonymous matter in which fair pricing is carried out using features of the NBBO. The automated trading the system and method also will carry out negotiations to effect a trade in certain circumstances, though the preferred method of effecting trades is by automated trading. However, regardless of the trading method, anonymity of the trading counterparties is preserved. The system and method also tests the NBBO for each of the traded securities to ensure it is valid before an automated trade may take place.
Type:
Application
Filed:
January 27, 2011
Publication date:
May 19, 2011
Applicant:
BIDS TRADING, L.P.
Inventors:
Paul HANSON, Mark BEDDIS, James BIRD, Geoff KRATZ, James LEE, Sik NGAI
Abstract: A system and method are described and disclosed that are used for effecting large block trades of securities in an automated and anonymous matter in which fair pricing is carried out using features of the NBBO. The automated trading the system and method also will carry out negotiations to effect a trade in certain circumstances, though the preferred method of effecting trades is by automated trading. However, regardless of the trading method, anonymity of the trading counterparties is preserved. The system and method also tests the NBBO for each of the traded securities to ensure it is valid before an automated trade may take place.
Type:
Grant
Filed:
January 31, 2008
Date of Patent:
February 15, 2011
Assignee:
BIDS Trading, L.P.
Inventors:
Paul Hanson, Mark Beddis, James Bird, Geoff Kratz, James Lee, Sik Ngai