Patents Assigned to Optimark Technologies, Inc.
  • Patent number: 6112189
    Abstract: A system calculates the mutual satisfaction between negotiating parties and maximizes their mutual satisfaction over a range of decision variables and does so without requiring the parties to identify themselves and their positions to each other. For automatically negotiating agreements between multiple parties, a computer accepts a satisfaction function from an offering party who defines his degree of satisfaction to agree to a range of terms upon which the party is desirous of negotiating as a function of the relevant decision variables. The computer then accepts input from all other parties regarding their degree of satisfaction to agree to each of the terms as a function of a particular relevant decision variable. The computer then calculates a satisfaction function for each of these terms based on all of the individual inputs.
    Type: Grant
    Filed: March 19, 1997
    Date of Patent: August 29, 2000
    Assignee: OptiMark Technologies, Inc.
    Inventors: John T. Rickard, William A. Lupien, George A. Wallace
  • Patent number: 6098051
    Abstract: A crossing network that matches buy and sell orders based upon a satisfaction and quantity profile is disclosed. The crossing network includes a number of trader terminals that can be used for entering order. The orders are entered in the form of a satisfaction density profile that represents a degree of satisfaction to trade a particular instrument at various (price, quantity) combinations. Typically, each order is either a buy order or a sell order. The trader terminals are coupled to a matching controller computer. The matching controller computer can receive as input the satisfaction density profiles entered at each one of the trading terminals. The matching controller computer matches orders (as represented by each trader's satisfaction density profile) so that each trader is assured that the overall outcome of the process (in terms of average price and size of fill) has maximized the mutual satisfaction of all traders. Typically, the matching process is anonymous.
    Type: Grant
    Filed: October 21, 1997
    Date of Patent: August 1, 2000
    Assignee: OptiMark Technologies, Inc.
    Inventors: William A. Lupien, John T. Rickard
  • Patent number: 6016483
    Abstract: A computer-based system for determining a set of opening prices for a number of series of options traded on an options exchange and for allocating public order imbalances at the opening of trading. Market makers input a current position, a desired target position and market maker orders for options series from market maker terminals. An order entry system receives public orders for options series. A controller determines a set of implied volatilities (prices) for each options series that will maximize a weighted volume of trades across all option series at the opening. Contra orders that can be matched at the opening price are then executed. If there is a residual imbalance of non-executed public orders, the residual imbalance of non-executed public orders is assigned to individual ones of the plurality of market makers so as to minimize a cumulative measure of deviation between the desired target position and the current position of each market maker.
    Type: Grant
    Filed: September 20, 1996
    Date of Patent: January 18, 2000
    Assignee: Optimark Technologies, Inc.
    Inventors: John T. Rickard, William A. Lupien
  • Patent number: 6012046
    Abstract: A crossing network that matches buy and sell orders based upon a satisfaction and quantity profile is disclosed. The crossing network includes a number of trader terminals that can be used for entering orders. The orders are entered in the form of a satisfaction density profile that represents a degree of satisfaction to trade a particular instrument at various (price, quantity) combinations. Typically, each order is either a buy order or a sell order. The trader terminals are coupled to a matching controller computer. The matching controller computer can receive as input the satisfaction density profiles entered at each one of the trading terminals. The matching controller computer matches orders (as represented by each trader's satisfaction density profile) so that each trader is assured that the overall outcome of the process (in terms of average price and size of fill) has maximized the mutual satisfaction of all traders. Typically, the matching process is anonymous.
    Type: Grant
    Filed: October 16, 1997
    Date of Patent: January 4, 2000
    Assignee: OptiMark Technologies, Inc.
    Inventors: William A. Lupien, John T. Rickard
  • Patent number: 5950177
    Abstract: A crossing network that matches buy and sell orders based upon a satisfaction and quantity profile is disclosed. The crossing network includes a number of trader terminals that can be used for entering orders. The orders are entered in the form of a satisfaction density profile that represents a degree of satisfaction to trade a particular instrument at various (price, quantity) combinations. Typically, each order is either a buy order or a sell order. The trader terminals are coupled to a matching controller computer. The matching controller computer can receive as input the satisfaction density profiles entered at each one of the trading terminals. The matching controller computer matches orders (as represented by each trader's satisfaction density profile) so that each trader is assured that the overall outcome of the process (in terms of average price and size of fill) has maximized the mutual satisfaction of all traders. Typically, the matching process is anonymous.
    Type: Grant
    Filed: July 15, 1997
    Date of Patent: September 7, 1999
    Assignee: Optimark Technologies, Inc.
    Inventors: William A. Lupien, John Terrell Rickard
  • Patent number: 5845266
    Abstract: A crossing network that matches buy and sell orders based upon a satisfaction and quantity profile includes a number of trader terminals that can be used for entering orders. The orders are entered in the form of a satisfaction density profile that represents a degree of satisfaction to trade a particular instrument at various (price, quantity) combinations. Typically, each order is either a buy order or a sell order. The trader terminals are coupled to a matching controller computer. The matching controller computer can receive as input the satisfaction density profiles entered at each one of the trading terminals. The matching controller computer matches orders (as represented by each trader's satisfaction density profile) so that each trader is assured that the overall outcome of the process (in terms of average price and size of fill) has maximized the mutual satisfaction of all traders. Typically, the matching process is anonymous.
    Type: Grant
    Filed: December 12, 1995
    Date of Patent: December 1, 1998
    Assignee: Optimark Technologies, Inc.
    Inventors: William A. Lupien, John T. Rickard
  • Patent number: 5689652
    Abstract: A crossing network that matches buy and sell orders based upon a satisfaction and quantity profile is disclosed. The crossing network includes a number of trader terminals that can be used for entering orders. The orders are entered in the form of a satisfaction density profile that represents a degree of satisfaction to trade a particular instrument at various (price, quantity) combinations. Typically, each order is either a buy order or a sell order. The trader terminals are coupled to a matching controller computer. The matching controller computer can receive as input the satisfaction density profiles entered at each one of the trading terminals. The matching controller computer matches orders (as represented by each trader's satisfaction density profile) so that each trader is assured that the overall outcome of the process (in terms of average price and size of fill) has maximized the mutual satisfaction of all traders. Typically, the matching process is anonymous.
    Type: Grant
    Filed: April 27, 1995
    Date of Patent: November 18, 1997
    Assignee: Optimark Technologies, Inc.
    Inventors: William A. Lupien, John Terrell Rickard