Abstract: The present invention relates generally to electronic trading systems. More particularly, the present invention relates to systems and methods for providing, within an electronic trading process, real-time or near real-time pre- and post-trade analytics to assist traders make the decision of how to trade electronically a particular tradeable asset. Pre- and post-trade analytics can be displayed to a trader without affecting their workflow. Moreover, pre- and post-trade analytics can be used to make trading recommendations, to select or modify a trading strategy, to select and or modify trading destinations, brokers, algorithms or venues, and/or to automatically generate and transmit electronic trade orders or to effect trades.
Type:
Grant
Filed:
March 21, 2014
Date of Patent:
June 9, 2020
Assignee:
Virtu ITG Software Solutions LLC
Inventors:
Ian Domowitz, Sabitha Arputham, Brian Kiernan, Kevin O'Connor
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