Patents by Inventor Hitesh Mittal
Hitesh Mittal 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).
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Publication number: 20190325516Abstract: Systems and methods are provided for maintaining neutrality while trading a list of securities using an algorithmic trading facility coupled with at least one destination. This destination includes at least one alternative trading system (ATS). This facility is coupled, via an electronic data network, to a plurality of trading clients, and configured to receive a trade request to trade a list of securities from a trading client. This request includes user defined trading constraints that are used to generate and transmit trade orders to at least one ATS. The orders are transmitted based on trading data related to the destinations, the trade list, and the trading constraints. The facility can identify each executed trade corresponding to the trade orders and calculate a trade imbalance. The facility can determine whether the trade imbalance exceeds the trading constraints, and reallocate one or more of said submitted orders based on this determination.Type: ApplicationFiled: December 10, 2018Publication date: October 24, 2019Applicant: ITG Software Solutions, Inc.Inventors: Hitesh Mittal, Ronald Taur, Ryan Lee, Scott Kartinen
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Patent number: 10152749Abstract: Systems and methods are provided for maintaining neutrality while trading a list of securities using an algorithmic trading facility coupled with at least one destination. This destination includes at least one alternative trading system (ATS). This facility is coupled, via an electronic data network, to a plurality of trading clients, and configured to receive a trade request to trade a list of securities from a trading client. This request includes user defined trading constraints that are used to generate and transmit trade orders to at least one ATS. The orders are transmitted based on trading data related to the destinations, the trade list, and the trading constraints. The facility can identify each executed trade corresponding to the trade orders and calculate a trade imbalance. The facility can determine whether the trade imbalance exceeds the trading constraints, and reallocate one or more of said submitted orders based on this determination.Type: GrantFiled: July 18, 2014Date of Patent: December 11, 2018Assignee: ITG SOFTWARE SOLUTIONS, INC.Inventors: Hitesh Mittal, Ronald Taur, Ryan Lee, Scott Kartinen
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Publication number: 20180197237Abstract: A method and system for optimizing allocation of large block orders for a security for maximum fill rate and minimum information leakage. The invention includes a process by which a block order for a security is allocated to a number of suborders which are then submitted to various electronic trading destinations to be filled. This allocation process involves ranking the suborders on the basis of a quality measurement, calculating and assigned a liquidity expectation to each suborder, determining a maximum target execution rate for the security that will not result in market impact, assigning orders to a trade list beginning with the higher rank suborder until the sum of shares represented in the list is equal to the maximum target execution rate, allocating the suborders not assigned to the trade list, and submitting the suborders to the corresponding electronic trading destination.Type: ApplicationFiled: March 9, 2018Publication date: July 12, 2018Applicant: ITG Software Solutions, Inc.Inventors: Ken Gleason, Hitesh Mittal
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Publication number: 20150052037Abstract: Systems and methods are provided for maintaining neutrality while trading a list of securities using an algorithmic trading facility coupled with at least one destination. This destination includes at least one alternative trading system (ATS). This facility is coupled, via an electronic data network, to a plurality of trading clients, and configured to receive a trade request to trade a list of securities from a trading client. This request includes user defined trading constraints that are used to generate and transmit trade orders to at least one ATS. The orders are transmitted based on trading data related to the destinations, the trade list, and the trading constraints. The facility can identify each executed trade corresponding to the trade orders and calculate a trade imbalance. The facility can determine whether the trade imbalance exceeds the trading constraints, and reallocate one or more of said submitted orders based on this determination.Type: ApplicationFiled: July 18, 2014Publication date: February 19, 2015Applicant: ITG SOFTWARE SOLUTIONS, INC.Inventors: Hitesh MITTAL, Ronald TAUR, Ryan LEE, Scott KARTINEN
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Patent number: 8788399Abstract: Systems and methods are provided for maintaining neutrality while trading a list of securities using an algorithmic trading facility coupled with at least one destination. This destination includes at least one alternative trading system (ATS). This facility is coupled, via an electronic data network, to a plurality of trading clients, and configured to receive a trade request to trade a list of securities from a trading client. This request includes user defined trading constraints that are used to generate and transmit trade orders to at least one ATS. The orders are transmitted based on trading data related to the destinations, the trade list, and the trading constraints. The facility can identify each executed trade corresponding to the trade orders and calculate a trade imbalance. The facility can determine whether the trade imbalance exceeds the trading constraints, and reallocate one or more of said submitted orders based on this determination.Type: GrantFiled: November 2, 2012Date of Patent: July 22, 2014Assignee: ITG Software Solutions, Inc.Inventors: Hitesh Mittal, Ronald Taur, Ryan Lee, Scott Kartinen
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Patent number: 8442902Abstract: System, method, and program for preventing gaming in a trading system. The systems, methods and programs can receive an order from a trader to trade securities in an alternative trading system, determine if gaming is occurring, set a price collar for the order, and submit the order to the alternative trading system with the price collar.Type: GrantFiled: February 17, 2012Date of Patent: May 14, 2013Assignee: ITG Software Solutions, Inc.Inventor: Hitesh Mittal
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Publication number: 20130091072Abstract: A computer-implemented system and method for using market data and analysis of previous trades to improve return on investment in one or more future trades. Historical trading data relating to a fund is collected and used to identify an alpha profile of the fund. Outcomes of a plurality of strategies for trading a security are simulated based on the identified alpha profile, and an optimized trading strategy is determined based on the results of the simulations.Type: ApplicationFiled: October 7, 2011Publication date: April 11, 2013Applicant: ITG SOFTWARE SOLUTIONS, INC.Inventors: Milan BORKOVEC, Hitesh MITTAL, Scott J. KARTINEN
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Patent number: 8306906Abstract: Systems and methods are provided for maintaining neutrality while trading a list of securities using an algorithmic trading facility coupled with at least one destination. This destination includes at least one alternative trading system (ATS). This facility is coupled, via an electronic data network, to a plurality of trading clients, and configured to receive a trade request to trade a list of securities from a trading client. This request includes user defined trading constraints that are used to generate and transmit trade orders to at least one ATS. The orders are transmitted based on trading data related to the destinations, the trade list, and the trading constraints. The facility can identify each executed trade corresponding to the trade orders and calculate a trade imbalance. The facility can determine whether the trade imbalance exceeds the trading constraints, and reallocate one or more of said submitted orders based on this determination.Type: GrantFiled: December 19, 2011Date of Patent: November 6, 2012Assignee: ITG Software Solutions, Inc.Inventors: Hitesh Mittal, Ronald Taur, Ryan Lee, Scott Kartinen
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Publication number: 20120150717Abstract: System, method, and program for preventing gaming in a trading system. The systems, methods and programs can receive an order from a trader to trade securities in an alternative trading system, determine if gaming is occurring, set a price collar for the order, and submit the order to the alternative trading system with the price collar.Type: ApplicationFiled: February 17, 2012Publication date: June 14, 2012Applicant: ITG Software Solutions, Inc.Inventor: Hitesh MITTAL
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Publication number: 20120089503Abstract: Systems and methods are provided for maintaining neutrality while trading a list of securities using an algorithmic trading facility coupled with at least one destination. This destination includes at least one alternative trading system (ATS). This facility is coupled, via an electronic data network, to a plurality of trading clients, and configured to receive a trade request to trade a list of securities from a trading client. This request includes user defined trading constraints that are used to generate and transmit trade orders to at least one ATS. The orders are transmitted based on trading data related to the destinations, the trade list, and the trading constraints. The facility can identify each executed trade corresponding to the trade orders and calculate a trade imbalance. The facility can determine whether the trade imbalance exceeds the trading constraints, and reallocate one or more of said submitted orders based on this determination.Type: ApplicationFiled: December 19, 2011Publication date: April 12, 2012Applicant: ITG Software Solutions, Inc.Inventors: Hitesh MITTAL, Ronald Taur, Ryan Lee, Scott Kartinen
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Patent number: 8121933Abstract: System, method, and program for preventing gaming in a trading system. The systems, methods and programs can receive an order from a trader to trade securities in an alternative trading system, determine if gaming is occurring, set a price collar for the order, and submit the order to the alternative trading system with the price collar.Type: GrantFiled: December 18, 2007Date of Patent: February 21, 2012Assignee: ITG Software Solutions, Inc.Inventor: Hitesh Mittal
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Patent number: 8082204Abstract: Systems and methods are provided for maintaining neutrality while trading a list of securities using an algorithmic trading facility coupled with at least one destination. This destination includes at least one alternative trading system (ATS). This facility is coupled, via an electronic data network, to a plurality of trading clients, and configured to receive a trade request to trade a list of securities from a trading client. This request includes user defined trading constraints that are used to generate and transmit trade orders to at least one ATS. The orders are transmitted based on trading data related to the destinations, the trade list, and the trading constraints. The facility can identify each executed trade corresponding to the trade orders and calculate a trade imbalance. The facility can determine whether the trade imbalance exceeds the trading constraints, and reallocate one or more of said submitted orders based on this determination.Type: GrantFiled: March 7, 2008Date of Patent: December 20, 2011Assignee: ITG Software Solutions, Inc.Inventors: Hitesh Mittal, Ronald Taur, Ryan Lee, Scott Kartinen
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Publication number: 20110191229Abstract: A method and system for optimizing allocation of large block orders for a security for maximum fill rate and minimum information leakage. The invention includes a process by which a block order for a security is allocated to a number of suborders which are then submitted to various electronic trading destinations to be filled. This allocation process involves ranking the suborders on the basis of a quality measurement, calculating and assigned a liquidity expectation to each suborder, determining a maximum target execution rate for the security that will not result in market impact, assigning orders to a trade list beginning with the higher rank suborder until the sum of shares represented in the list is equal to the maximum target execution rate, allocating the suborders not assigned to the trade list, and submitting the suborders to the corresponding electronic trading destination.Type: ApplicationFiled: February 3, 2010Publication date: August 4, 2011Applicant: ITG SOFTWARE SOLUTIONS, INC.Inventors: Hitesh Mittal, Ken Gleason
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Publication number: 20110010287Abstract: A system for redirecting electronic trade orders includes trade order routing facilities coupled with an electronic trade routing network and a plurality of trade venues, including one or more third party broker dealer systems and one or more alternative trading systems. The trade order routing facilities are configured to monitor electronic trade orders at destination trade venues to determine the number of available shares remaining. The trade order routing facilities are further configured to monitor the electronic trade routing network and a plurality of trade venues to identify if any executable trade orders exist that could be matched against some or all of the remaining order portion. Then the trade order routing facilities retrieve some or all of the remaining shares and submit trade orders to execute against the identified orders in other trade venues.Type: ApplicationFiled: July 12, 2010Publication date: January 13, 2011Applicant: ITG SOFTWARE SOLUTIONS, INC.Inventors: Hitesh MITTAL, Raj JAIN
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Publication number: 20100293109Abstract: A system, method and computer program product are provided for routing electronic trade orders to trade execution venues. At an electronic trading server, electronic order information is received that defines a first electronic trade order including an identification of underlying assets to be traded on an electronic exchange or marketplace, a side of the trade, and a limit price. The electronic order information is stored in an electronic data storage facility. One or more second electronic trade orders are generated from the first electronic trade order and transmitted, via a trade router, to one or more electronic trading venues. Market data for a non-displayed electronic trading venue is received. It is determined if one or more of the second electronic trade orders has become stagnant.Type: ApplicationFiled: May 14, 2010Publication date: November 18, 2010Applicant: ITG SOFTWARE SOLUTIONS, INC.Inventors: Rajendra Jain, Hitesh Mittal
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Publication number: 20080249959Abstract: Systems and methods are provided for maintaining neutrality while trading a list of securities using an algorithmic trading facility coupled with at least one destination. This destination includes at least one alternative trading system (ATS). This facility is coupled, via an electronic data network, to a plurality of trading clients, and configured to receive a trade request to trade a list of securities from a trading client. This request includes user defined trading constraints that are used to generate and transmit trade orders to at least one ATS. The orders are transmitted based on trading data related to the destinations, the trade list, and the trading constraints. The facility can identify each executed trade corresponding to the trade orders and calculate a trade imbalance. The facility can determine whether the trade imbalance exceeds the trading constraints, and reallocate one or more of said submitted orders based on this determination.Type: ApplicationFiled: March 7, 2008Publication date: October 9, 2008Applicant: ITG SOFTWARE SOLUTIONS, INC.Inventors: Hitesh MITTAL, Ronald TAUR, Ryan LEE, Scott KARTINEN
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Publication number: 20070250436Abstract: A system for providing algorithmic trading services includes a server coupled to an electronic data network configured to receive a first message from a remote trading client computer requesting algorithmic trading services and in response thereto, to start an algorithmic trading portal on the remote trading client computer. The algorithmic trading portal is separate and independent of an order management system and is configured to allow selection of one of a plurality of algorithmic trading services and to build a request for the selected algorithmic trading service.Type: ApplicationFiled: March 22, 2007Publication date: October 25, 2007Applicant: ITG SOFTWARE SOLUTIONS, INC.Inventors: Hitesh Mittal, Eric Sugden