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).
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Patent number: 10430884Abstract: 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: GrantFiled: September 18, 2017Date of Patent: October 1, 2019Assignee: Virtu ITG Software Solutions LLCInventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P. L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher
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Publication number: 20180260901Abstract: 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: ApplicationFiled: May 15, 2018Publication date: September 13, 2018Applicant: 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
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Patent number: 9978102Abstract: 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: GrantFiled: August 18, 2014Date of Patent: May 22, 2018Assignee: 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
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Publication number: 20180005321Abstract: 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: ApplicationFiled: September 18, 2017Publication date: January 4, 2018Applicant: 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
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Patent number: 9767514Abstract: 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: GrantFiled: October 26, 2012Date of Patent: September 19, 2017Assignee: 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
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Publication number: 20150178839Abstract: 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: ApplicationFiled: August 18, 2014Publication date: June 25, 2015Applicant: 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
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Patent number: 8812383Abstract: 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: GrantFiled: June 28, 2010Date of Patent: August 19, 2014Assignee: 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
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Publication number: 20130144773Abstract: 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: ApplicationFiled: October 26, 2012Publication date: June 6, 2013Applicant: 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
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Patent number: 8341067Abstract: 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: GrantFiled: June 30, 2008Date of Patent: December 25, 2012Assignee: 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
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Publication number: 20100332375Abstract: 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: ApplicationFiled: June 28, 2010Publication date: December 30, 2010Applicant: ESP Technologies CorporationInventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P. L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher
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Publication number: 20090327117Abstract: 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: ApplicationFiled: June 30, 2008Publication date: December 31, 2009Applicant: ESP TECHNOLOGIES CORPORATIONInventors: Ronald D. Lee, Mervin C. Newell, Scott H. Kurland, Ian P. L. Hoenisch, James B. Weiner, Gerald B. Drayer, Robert L. Sher