Patents by Inventor Scott H. Kurland

Scott H. Kurland 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: 10430884
    Abstract: A post-trade aggregation system for financial instrument trading systems, wherein a trader manages a plurality of trade orders to be executed by one or more executing brokers on behalf of customers via a data interface system. The plurality of trade orders includes at least one wrap block order and at least one institutional block order. The plurality of trade orders are merged into a single merged block order, apportioned into a plurality of smaller electronic trade orders, and transmitted to a plurality of order destinations. One or more computer systems are in electronic communication with the data interface system and with a clearing system, and configured to compress individual executions from the plurality of order destinations corresponding to the plurality of smaller electronic trade orders into a single net marked-up step-out for wrap orders and a single average-priced block for institutional orders.
    Type: Grant
    Filed: September 18, 2017
    Date of Patent: October 1, 2019
    Assignee: Virtu ITG Software Solutions LLC
    Inventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P. L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher
  • Publication number: 20180260901
    Abstract: A post-trade aggregation system includes an allocation middleware interface, which interacts with data interface to allocate and settle trades. An order management system receives a trade order on behalf of a customer and causes apportionment of the trade into a plurality of smaller orders to be transmitted to a plurality of order destinations directly (e.g. via the FIX protocol). The post-trade aggregation system includes an allocation middleware interface which receives the individual trade executions from the plurality of order destination and compresses them into a single average-priced block. The allocation middleware interface then transmits the single average-priced block to be cleared by a designated clearing agent and allocates the single average-priced block into one or more custodian accounts.
    Type: Application
    Filed: May 15, 2018
    Publication date: September 13, 2018
    Applicant: ITG SOFTWARE SOLUTIONS, INC.
    Inventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P.L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher
  • Patent number: 9978102
    Abstract: A post-trade aggregation system includes an allocation middleware interface, which interacts with data interface to allocate and settle trades. An order management system receives a trade order on behalf of a customer and causes apportionment of the trade into a plurality of smaller orders to be transmitted to a plurality of order destinations directly (e.g. via the FIX protocol). The post-trade aggregation system includes an allocation middleware interface which receives the individual trade executions from the plurality of order destination and compresses them into a single average-priced block. The allocation middleware interface then transmits the single average-priced block to be cleared by a designated clearing agent and allocates the single average-priced block into one or more custodian accounts.
    Type: Grant
    Filed: August 18, 2014
    Date of Patent: May 22, 2018
    Assignee: ITG SOFTWARE SOLUTIONS, INC.
    Inventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P. L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher
  • Publication number: 20180005321
    Abstract: A post-trade aggregation system for financial instrument trading systems, wherein a trader manages a plurality of trade orders to be executed by one or more executing brokers on behalf of customers via a data interface system. The plurality of trade orders includes at least one wrap block order and at least one institutional block order. The plurality of trade orders are merged into a single merged block order, apportioned into a plurality of smaller electronic trade orders, and transmitted to a plurality of order destinations. One or more computer systems are in electronic communication with the data interface system and with a clearing system, and configured to compress individual executions from the plurality of order destinations corresponding to the plurality of smaller electronic trade orders into a single net marked-up step-out for wrap orders and a single average-priced block for institutional orders.
    Type: Application
    Filed: September 18, 2017
    Publication date: January 4, 2018
    Applicant: ITG SOFTWARE SOLUTIONS, INC.
    Inventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P.L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher
  • Patent number: 9767514
    Abstract: A post-trade aggregation system for financial instrument trading systems, wherein a trader manages a plurality of trade orders to be executed by one or more executing brokers on behalf of customers via a data interface system. The plurality of trade orders includes at least one wrap block order and at least one institutional block order. The plurality of trade orders are merged into a single merged block order, apportioned into a plurality of smaller electronic trade orders, and transmitted to a plurality of order destinations. One or more computer systems are in electronic communication with the data interface system and with a clearing system, and configured to compress individual executions from the plurality of order destinations corresponding to the plurality of smaller electronic trade orders into a single net marked-up step-out for wrap orders and a single average-priced block for institutional orders.
    Type: Grant
    Filed: October 26, 2012
    Date of Patent: September 19, 2017
    Assignee: ITG SOFTWARE SOLUTIONS, INC.
    Inventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P. L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher
  • Publication number: 20150178839
    Abstract: A post-trade aggregation system includes an allocation middleware interface, which interacts with data interface to allocate and settle trades. An order management system receives a trade order on behalf of a customer and causes apportionment of the trade into a plurality of smaller orders to be transmitted to a plurality of order destinations directly (e.g. via the FIX protocol). The post-trade aggregation system includes an allocation middleware interface which receives the individual trade executions from the plurality of order destination and compresses them into a single average-priced block. The allocation middleware interface then transmits the single average-priced block to be cleared by a designated clearing agent and allocates the single average-priced block into one or more custodian accounts.
    Type: Application
    Filed: August 18, 2014
    Publication date: June 25, 2015
    Applicant: ITG SOFTWARE SOLUTIONS, INC.
    Inventors: Ronald D. LEE, Mervin C. Newell, Scott H. Kurland, Ian P.L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher
  • Patent number: 8812383
    Abstract: A post-trade aggregation system includes an allocation middleware interface, which interacts with an order management system to allocate and settle trades. The order management system receives a trade order on behalf of a customer and either apportions the trade into a plurality of smaller orders and communicates them to a plurality of order destinations directly (e.g. via the FIX protocol), or sends large orders to an order staging and optimization interface which then apportions the larger orders into a plurality of smaller orders and communicates the orders to a plurality of order destinations. The post-trade aggregation system contains an allocation middleware interface which receives the individual trade executions from the plurality of order destination and compresses them into a single average-priced block.
    Type: Grant
    Filed: June 28, 2010
    Date of Patent: August 19, 2014
    Assignee: ITG Software Solutions, Inc.
    Inventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P. L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher
  • Publication number: 20130144773
    Abstract: A post-trade aggregation system for financial instrument trading systems, wherein a trader manages a plurality of trade orders to be executed by one or more executing brokers on behalf of customers via a data interface system. The plurality of trade orders includes at least one wrap block order and at least one institutional block order. The plurality of trade orders are merged into a single merged block order, apportioned into a plurality of smaller electronic trade orders, and transmitted to a plurality of order destinations. One or more computer systems are in electronic communication with the data interface system and with a clearing system, and configured to compress individual executions from the plurality of order destinations corresponding to the plurality of smaller electronic trade orders into a single net marked-up step-out for wrap orders and a single average-priced block for institutional orders.
    Type: Application
    Filed: October 26, 2012
    Publication date: June 6, 2013
    Applicant: ITG SOFTWARE SOLUTIONS, INC.
    Inventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P. L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher
  • Patent number: 8341067
    Abstract: A post-trade aggregation system includes an allocation middleware interface, which interacts with an order management system to allocate and settle trades. The order management system receives a trade order on behalf of a customer and either apportions the trade into a plurality of smaller orders and communicates them to a plurality of order destinations directly (e.g. via the FIX protocol), or sends large orders to an order staging and optimization interface which then apportions the larger orders into a plurality of smaller orders and communicates the orders to a plurality of order destinations. The post-trade aggregation system contains an allocation middleware interface which receives the individual trade executions from the plurality of order destination and compresses them into a single average-priced block.
    Type: Grant
    Filed: June 30, 2008
    Date of Patent: December 25, 2012
    Assignee: ITG Software Solutions, Inc.
    Inventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P. L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher
  • Publication number: 20100332375
    Abstract: A post-trade aggregation system includes an allocation middleware interface, which interacts with an order management system to allocate and settle trades. The order management system receives a trade order on behalf of a customer and either apportions the trade into a plurality of smaller orders and communicates them to a plurality of order destinations directly (e.g. via the FIX protocol), or sends large orders to an order staging and optimization interface which then apportions the larger orders into a plurality of smaller orders and communicates the orders to a plurality of order destinations. The post-trade aggregation system contains an allocation middleware interface which receives the individual trade executions from the plurality of order destination and compresses them into a single average-priced block.
    Type: Application
    Filed: June 28, 2010
    Publication date: December 30, 2010
    Applicant: ESP Technologies Corporation
    Inventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P. L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher
  • Publication number: 20090327117
    Abstract: A post-trade aggregation system includes an allocation middleware interface, which interacts with an order management system to allocate and settle trades. The order management system receives a trade order on behalf of a customer and either apportions the trade into a plurality of smaller orders and communicates them to a plurality of order destinations directly (e.g. via the FIX protocol), or sends large orders to an order staging and optimization interface which then apportions the larger orders into a plurality of smaller orders and communicates the orders to a plurality of order destinations. The post-trade aggregation system contains an allocation middleware interface which receives the individual trade executions from the plurality of order destination and compresses them into a single average-priced block.
    Type: Application
    Filed: June 30, 2008
    Publication date: December 31, 2009
    Applicant: ESP TECHNOLOGIES CORPORATION
    Inventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P. L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher