Patents by Inventor Eric M. Herz

Eric M. Herz has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • Patent number: 11361377
    Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.
    Type: Grant
    Filed: June 5, 2020
    Date of Patent: June 14, 2022
    Assignee: Trading Technologies International, Inc.
    Inventor: Eric M. Herz
  • Publication number: 20200302531
    Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.
    Type: Application
    Filed: June 5, 2020
    Publication date: September 24, 2020
    Inventor: Eric M. Herz
  • Patent number: 10713720
    Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.
    Type: Grant
    Filed: September 11, 2018
    Date of Patent: July 14, 2020
    Assignee: Trading Technologies International, Inc.
    Inventor: Eric M. Herz
  • Publication number: 20190005581
    Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.
    Type: Application
    Filed: September 11, 2018
    Publication date: January 3, 2019
    Inventor: Eric M. Herz
  • Patent number: 10115159
    Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.
    Type: Grant
    Filed: November 4, 2013
    Date of Patent: October 30, 2018
    Assignee: Trading Technologies International, Inc.
    Inventor: Eric M. Herz
  • Publication number: 20140236797
    Abstract: A system and associated methods are provided for use of fractional pay-up ticks in relation to offset orders being sent for a trading strategy that involves trading a first tradeable object and at least a second tradeable object. According to one example method, when an indication is received that a quantity at a first price for the first tradeable object is filled, a plurality of offset orders for the second tradeable object is sent to an electronic order book of the second tradeable object. The plurality of offset orders is placed at a plurality of price levels determined based on at least one fractional pay-up tick value, the first price, and the desired spread price. A quantity for each order is determined based on a quantity divider rule that is applied to an offset quantity to offset the fill.
    Type: Application
    Filed: February 20, 2014
    Publication date: August 21, 2014
    Applicant: Trading Technologies International, Inc.
    Inventors: Sagy P. Mintz, Eric M. Herz, Alexander D. Deitz
  • Publication number: 20140229355
    Abstract: A system and associated methods are provided for smart hedging in an electronic trading environment. According to one example method, a first order for a first tradeable object and a second order for a second tradeable object are placed based on a spread strategy. Upon receiving an indication that a quantity of the first order is filled, the method involves determining if the second order can be used to offset the quantity filled of the first order by determining if a price of the second order would result in achieving a desired spread price defined for the spread strategy. If the price results in the desired price, the second order is used to offset the quantity filled for the first order in an attempt to achieve the desired spread price. Other tools are provided as well.
    Type: Application
    Filed: September 10, 2013
    Publication date: August 14, 2014
    Inventors: Michael J. Burns, Sagy P. Mintz, Eric M. Herz, Alexander D. Deitz
  • Publication number: 20140195408
    Abstract: A system and associated methods are provided for intelligent placement and movement of orders in an electronic trading environment. According to one example method, in addition to submitting a leg order at a calculated price level, additional orders, queue holder orders, are submitted for the leg order at prices either below or above the calculated price level. Based on this configuration, if the conditions change such that it is necessary to re-price the leg order, there will be already an order resting in the exchange order book at the re-calculated price that can be used in the strategy. Upon re-pricing the leg order, one or more additional queue holder orders will be placed in the market. Other tools are provided as well.
    Type: Application
    Filed: March 10, 2014
    Publication date: July 10, 2014
    Applicant: TRADING TECHNOLOGIES INTERNATIONAL, INC.
    Inventors: Michael J. Burns, Eric M. Herz, Sagy P. Mintz, Alexander D. Deitz
  • Patent number: 8751368
    Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.
    Type: Grant
    Filed: December 10, 2012
    Date of Patent: June 10, 2014
    Assignee: Trading Technologies International, Inc.
    Inventor: Eric M. Herz
  • Patent number: 8712904
    Abstract: A system and associated methods are provided for intelligent placement and movement of orders in an electronic trading environment. According to one example method, in addition to submitting a leg order at a calculated price level, additional orders, queue holder orders, are submitted for the leg order at prices either below or above the calculated price level. Based on this configuration, if the conditions change such that it is necessary to re-price the leg order, there will be already an order resting in the exchange order book at the re-calculated price that can be used in the strategy. Upon re-pricing the leg order, one or more additional queue holder orders will be placed in the market. Other tools are provided as well.
    Type: Grant
    Filed: October 12, 2012
    Date of Patent: April 29, 2014
    Assignee: Trading Technologies International, Inc.
    Inventors: Michael J. Burns, Eric M. Herz, Sagy Pundak Mintz, Alexander D. Dietz
  • Patent number: 8706611
    Abstract: A system and associated methods are provided for use of fractional pay-up ticks in relation to offset orders being sent for a trading strategy that involves trading a first tradeable object and at least a second tradeable object. According to one example method, when an indication is received that a quantity at a first price for the first tradeable object is filled, a plurality of offset orders for the second tradeable object is sent to an electronic order book of the second tradeable object. The plurality of offset orders is placed at a plurality of price levels determined based on at least one fractional pay-up tick value, the first price, and the desired spread price. A quantity for each order is determined based on a quantity divider rule that is applied to an offset quantity to offset the fill.
    Type: Grant
    Filed: August 15, 2013
    Date of Patent: April 22, 2014
    Assignee: Trading Technologies International, Inc.
    Inventors: Sagy P. Mintz, Eric M. Herz, Alexander D. Deitz
  • Publication number: 20140058922
    Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.
    Type: Application
    Filed: November 4, 2013
    Publication date: February 27, 2014
    Applicant: TRADING TECHNOLOGIES INTERNATIONAL, INC.
    Inventor: Eric M. Herz
  • Publication number: 20130339213
    Abstract: A system and associated methods are provided for use of fractional pay-up ticks in relation to offset orders being sent for a trading strategy that involves trading a first tradeable object and at least a second tradeable object. According to one example method, when an indication is received that a quantity at a first price for the first tradeable object is filled, a plurality of offset orders for the second tradeable object is sent to an electronic order book of the second tradeable object. The plurality of offset orders is placed at a plurality of price levels determined based on at least one fractional pay-up tick value, the first price, and the desired spread price. A quantity for each order is determined based on a quantity divider rule that is applied to an offset quantity to offset the fill.
    Type: Application
    Filed: August 15, 2013
    Publication date: December 19, 2013
    Applicant: Trading Technologies International, Inc.
    Inventors: Sagy P. Mintz, Eric M. Herz, Alexander D. Deitz
  • Patent number: 8606689
    Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.
    Type: Grant
    Filed: December 10, 2012
    Date of Patent: December 10, 2013
    Assignee: Trading Technologies International, Inc.
    Inventor: Eric M. Herz
  • Patent number: 8560430
    Abstract: A system and associated methods are provided for smart hedging in an electronic trading environment. According to one example method, a first order for a first tradeable object and a second order for a second tradeable object are placed based on a spread strategy. Upon receiving an indication that a quantity of the first order is filled, the method involves determining if the second order can be used to offset the quantity filled of the first order by determining if a price of the second order would result in achieving a desired spread price defined for the spread strategy. If the price results in the desired price, the second order is used to offset the quantity filled for the first order in an attempt to achieve the desired spread price. Other tools are provided as well.
    Type: Grant
    Filed: July 31, 2012
    Date of Patent: October 15, 2013
    Assignee: Trading Technologies International, Inc.
    Inventors: Michael J. Burns, Sagy P. Mintz, Eric M. Herz, Alexander D. Dietz
  • Patent number: 8538855
    Abstract: A system and associated methods are provided for use of fractional pay-up ticks in relation to offset orders being sent for a trading strategy that involves trading a first tradeable object and at least a second tradeable object. According to one example method, when an indication is received that a quantity at a first price for the first tradeable object is filled, a plurality of offset orders for the second tradeable object is sent to an electronic order book of the second tradeable object. The plurality of offset orders is placed at a plurality of price levels determined based on at least one fractional pay-up tick value, the first price, and the desired spread price. A quantity for each order is determined based on a quantity divider rule that is applied to an offset quantity to offset the fill.
    Type: Grant
    Filed: March 31, 2010
    Date of Patent: September 17, 2013
    Assignee: Trading Technologies International, Inc.
    Inventors: Sagy P. Mintz, Eric M. Herz, Alexander D. Deitz
  • Patent number: 8359262
    Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.
    Type: Grant
    Filed: March 26, 2012
    Date of Patent: January 22, 2013
    Assignee: Trading Technologies International, Inc.
    Inventor: Eric M. Herz
  • Publication number: 20120296803
    Abstract: A system and associated methods are provided for smart hedging in an electronic trading environment. According to one example method, a first order for a first tradeable object and a second order for a second tradeable object are placed based on a spread strategy. Upon receiving an indication that a quantity of the first order is filled, the method involves determining if the second order can be used to offset the quantity filled of the first order by determining if a price of the second order would result in achieving a desired spread price defined for the spread strategy. If the price results in the desired price, the second order is used to offset the quantity filled for the first order in an attempt to achieve the desired spread price. Other tools are provided as well.
    Type: Application
    Filed: July 31, 2012
    Publication date: November 22, 2012
    Applicant: TRADING TECHNOLOGIES INTERNATIONAL, INC.
    Inventors: Michael J. Burns, Sagy P. Mintz, Eric M. Herz, Alexander D. Deitz
  • Patent number: 8311932
    Abstract: A system and associated methods are provided for intelligent placement and movement of orders in an electronic trading environment. According to one example method, in addition to submitting a leg order at a calculated price level, additional orders, queue holder orders, are submitted for the leg order at prices either below or above the calculated price level. Based on this configuration, if the conditions change such that it is necessary to re-price the leg order, there will be already an order resting in the exchange order book at the re-calculated price that can be used in the strategy. Upon re-pricing the leg order, one or more additional queue holder orders will be placed in the market. Other tools are provided as well.
    Type: Grant
    Filed: October 17, 2011
    Date of Patent: November 13, 2012
    Assignee: Trading Technologies International, Inc.
    Inventors: Michael J. Burns, Eric M. Herz, Sagy P. Mintz, Alexander D. Dietz
  • Patent number: 8266049
    Abstract: A system and associated methods are provided for smart hedging in an electronic trading environment. According to one example method, a first order for a first tradeable object and a second order for a second tradeable object are placed based on a spread strategy. Upon receiving an indication that a quantity of the first order is filled, the method involves determining if the second order can be used to offset the quantity filled of the first order by determining if a price of the second order would result in achieving a desired spread price defined for the spread strategy. If the price results in the desired price, the second order is used to offset the quantity filled for the first order in an attempt to achieve the desired spread price. Other tools are provided as well.
    Type: Grant
    Filed: April 9, 2012
    Date of Patent: September 11, 2012
    Assignee: Trading Technologies International, Inc.
    Inventors: Michael J. Burns, Sagy P. Mintz, Eric M. Herz, Alexander D. Dietz