Patents by Inventor Edward Howorka

Edward Howorka 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: 11176610
    Abstract: An anonymous computerized trading system matches orders by conducting auctions at specified times. As well as entering orders, participants assign credit limits for the duration of the auction, thus minimizing the time for which credit is allocated to the system.
    Type: Grant
    Filed: August 21, 2019
    Date of Patent: November 16, 2021
    Assignee: EBS Group Limited
    Inventors: John Edward Schoen, Nasir Ahmed Zubairi, Edward R. Howorka, Neena Jain
  • Patent number: 8775268
    Abstract: Quotes entered into an automated trading system may comprise a visible, or primary, amount, and a linked or hidden amount. The visible amount only is shown to other traders on the system but part or all of the linked amount may be dealt if the order with the quote is match is for an amount greater than the visible amount. If, after matching and deal confirmation, all the visible amount has been dealt, but some or all of the linked amount remains, a fresh order for the remaining linked amount is generated and submitted to the trading system for matching. The new quoted may be visible only or may have a visible component up to a limit specified by the maker on submission of the original quote, with the remainder being linked. Maker quotes converted to taker quotes by an auto-match routine may be resubmitted for undealt linked amounts in the same way. In one aspect of the invention, linked amounts are matched and dealt before visible amounts.
    Type: Grant
    Filed: January 26, 2011
    Date of Patent: July 8, 2014
    Assignee: EBS Group Limited
    Inventors: Edward Howorka, Tracy Riordan
  • Publication number: 20140122318
    Abstract: An anonymous trading system for financial instruments comprises a network of broking nodes each performing a bid and offer matching function and a market view distribution function. Trader terminals are connected to the network via trading agent nodes. During deal execution a credit check is performed and once the deal is complete the identity of the counterparty becomes known to the other counterparty to the deal. The originating counterparty may send a More quantity message to the other party proposing a further deal at the same price. The other party may decline, partially accept, accept or accept and propose a still further amount. Credit for the further deal is drawn from an external source and the internal credit limits are temporarily increased or disabled to prevent the deal from being rejected.
    Type: Application
    Filed: December 18, 2013
    Publication date: May 1, 2014
    Applicant: EBS GROUP LIMITED
    Inventors: August Hochenberger, Edward Howorka, Neena Jain, John C. Gaudio, John R. Capuano, Gregory Mills, Srivathsan Krishnasami
  • Patent number: 8566221
    Abstract: Joint execution type compound orders can be processed in an anonymous trading system comprising a plurality of broker nodes each of which includes an order matching functionality and a market distribution functionality. Trader agent nodes are connected to a number of dealer terminals grouped in trading floors and also to a broker node. Joint execution orders are entered as hit orders and are all matched by the broker during the hit or the order is cancelled. If matches are made the taker's trading agent does not complete any of the deals marking up the order until it knows that all the deals are executable. The system may be used to allow traders to hit bids and offers in currency pairs synthesised from other currency pairs. In this arrangement the dealer enters a simple order in the synthetic currency and the taker's trading agent converts it into a joint execution order.
    Type: Grant
    Filed: May 17, 2011
    Date of Patent: October 22, 2013
    Assignee: EBS Group Limited
    Inventors: Vladimir Neyman, Steven Iaccheo, Neena Jain, James Shu, Edward Howorka, Andrew Foray, Michael Merold
  • Patent number: 8504667
    Abstract: In a trading system market data from a matching engine is distributed by a broker to a plurality of trading floors repeatedly every T seconds, typically one second. This one second distribution period is divided into a plurality of time slots and each trading floor is randomly assigned to a slot. Data for a given trading floor is calculated and distributed during the time slot assigned to that floor. The position of a trading floor relative to others is varied by swapping a pair of adjacent time slots every J distribution periods.
    Type: Grant
    Filed: July 30, 2009
    Date of Patent: August 6, 2013
    Assignee: EBS Group Limited
    Inventors: Edward Howorka, Peter R. Horsfall, Steven W. Iaccheo, Michael S. Merold, Schalk M. Steyn
  • Patent number: 8416801
    Abstract: In a trading system market data from a matching engine is distributed by a broker to a plurality of trading floors repeatedly every T seconds, typically one second. This one second distribution period is divided into a plurality of time slots and each trading floor is randomly assigned to a slot. Data for a given trading floor is calculated and distributed during the time slot assigned to that floor. The position of a trading floor relative to others is varied by swapping a pair of adjacent time slots every J distribution periods.
    Type: Grant
    Filed: November 1, 2010
    Date of Patent: April 9, 2013
    Assignee: EBS Group Limited
    Inventors: Edward Howorka, Peter R. Horsfall, Steven Iaccheo, Michael Merold, Schalk Steyn
  • Patent number: 8200570
    Abstract: An anonymous trading system includes a prime broker facility that allows a third party to trade on behalf of an institution. A deal is executed between the third party and a counter-party and a further deal is then executed between the third party and the party on whose behalf it has traded. The second deal may be for the same amount as the first deal or may be altered to include the third party's fee for conducting the first deal. Clients of the third party have prices available to them for trades made via the third party which are displayed at their trader terminals. The client sees that a better price is available though the third party than by dealing direct and selects to conduct a deal through the third party.
    Type: Grant
    Filed: May 6, 2009
    Date of Patent: June 12, 2012
    Assignee: EBS Group Limited
    Inventors: James Sinclair, James O'Hagan, Edward Howorka, Neena Jain
  • Patent number: 8090643
    Abstract: Joint execution type compound orders can be processed in an anonymous trading system comprising a plurality of broker nodes each of which includes an order matching functionality and a market distribution functionality. Trader agent nodes are connected to a number of dealer terminals grouped in trading floors and also to a broker node. Joint execution orders are entered as hit orders and are all matched by the broker during the hit or the order is cancelled. If matches are made the taker's trading agent does not complete any of the deals marking up the order until it knows that all the deals are executable. The system may be used to allow traders to hit bids and offers in currency pairs synthesised from other currency pairs. In this arrangement the dealer enters a simple order in the synthetic currency and the taker's trading agent converts it into a joint execution order.
    Type: Grant
    Filed: August 20, 2007
    Date of Patent: January 3, 2012
    Assignee: EBS Group Limited
    Inventors: Vladimir Neyman, Steven Iaccheo, Neena Jain, James Shu, Edward Howorka, Andrew Foray, Michael Merold
  • Patent number: 8027895
    Abstract: An anonymous trading system comprises a network of broker nodes, each of which have an equal status and can match orders, initiate deals and distribute prices. Trading agents are connected to some or all of the broker nodes. The network is arranged to conform to a series of rules and in a preferred embodiment the brokers are arranged as a clique tree.
    Type: Grant
    Filed: January 28, 2008
    Date of Patent: September 27, 2011
    Assignee: EBS Group Limited
    Inventors: Edward Howorka, Vladimir Neyman, Steven Iaccheo, Neena Jain, James Shu
  • Publication number: 20110119174
    Abstract: Quotes entered into an automated trading system may comprise a visible, or primary, amount, and a linked or hidden amount. The visible amount only is shown to other traders on the system but part or all of the linked amount may be dealt if the order with the quote is match is for an amount greater than the visible amount. If, after matching and deal confirmation, all the visible amount has been dealt, but some or all of the linked amount remains, a fresh order for the remaining linked amount is generated and submitted to the trading system for matching. The new quoted may be visible only or may have a visible component up to a limit specified by the maker on submission of the original quote, with the remainder being linked. Maker quotes converted to taker quotes by an auto-match routine may be resubmitted for undealt linked amounts in the same way. In one aspect of the invention, linked amounts are matched and dealt before visible amounts.
    Type: Application
    Filed: January 26, 2011
    Publication date: May 19, 2011
    Applicant: EBS GROUP LIMITED
    Inventors: Edward Howorka, Tracey Riordan
  • Patent number: 7925545
    Abstract: Quotes entered into an automated trading system may comprise a visible, or primary, amount, and a linked or hidden amount. The visible amount only is shown to other traders on the system but part or all of the linked amount may be dealt if the order with with the quote is match is for an amount greater than the visible amount. If, after matching and deal confirmation, all the visible amount has been dealt, but some or all of the linked amount remains, a fresh order for the remaining linked amount is generated and submitted to the trading system for matching. The new quoted may be visible only or may have a visible component up to a limit specified by the maker on submission of the original quote, with the remainder being linked. Maker quotes converted to taker quotes by an auto-match routine may be resubmitted for undealt linked amounts in the same way. In one aspect of the invention, linked amounts are matched and dealt before visible amounts.
    Type: Grant
    Filed: August 16, 2006
    Date of Patent: April 12, 2011
    Assignee: EBS Group Limited
    Inventors: Edward Howorka, Tracey Riordan
  • Publication number: 20110047064
    Abstract: In a trading system market data from a matching engine is distributed by a broker to a plurality of trading floors repeatedly every T seconds, typically one second. This one second distribution period is divided into a plurality of time slots and each trading floor is randomly assigned to a slot. Data for a given trading floor is calculated and distributed during the time slot assigned to that floor. The position of a trading floor relative to others is varied by swapping a pair of adjacent time slots every J distribution periods.
    Type: Application
    Filed: November 1, 2010
    Publication date: February 24, 2011
    Applicant: EBS GROUP LIMITED
    Inventors: Edward Howorka, Peter R. Horsfall, Steven Iaccheo, Michael Merold, Schalk Steyn
  • Patent number: 7848349
    Abstract: In a trading system market data from a matching engine is distributed by a broker to a plurality of trading floors repeatedly every T seconds, typically one second. This one second distribution period is divided into a plurality of time slots and each trading floor is randomly assigned to a slot. Data for a given trading floor is calculated and distributed during the time slot assigned to that floor. The position of a trading floor relative to others is varied by swapping a pair of adjacent time slots every J distribution periods.
    Type: Grant
    Filed: September 8, 2006
    Date of Patent: December 7, 2010
    Assignee: EBS Group Limited
    Inventors: Edward Howorka, Peter R. Horsfall, Steven Iaccheo, Michael Merold, Schalk Steyn
  • Publication number: 20100082767
    Abstract: In a trading system market data from a matching engine is distributed by a broker to a plurality of trading floors repeatedly every T seconds, typically one second. This one second distribution period is divided into a plurality of time slots and each trading floor is randomly assigned to a slot. Data for a given trading floor is calculated and distributed during the time slot assigned to that floor. The position of a trading floor relative to others is varied by swapping a pair of adjacent time slots every J distribution periods.
    Type: Application
    Filed: July 30, 2009
    Publication date: April 1, 2010
    Applicant: EBS Group Ltd.
    Inventors: Edward Howorka, Peter R. Horsfall, Steven W. Iaccheo, Michael S. Merold, Schalk M. Steyn
  • Publication number: 20080120377
    Abstract: An anonymous trading system comprises a network of broker nodes, each of which have an equal status and can match orders, initiate deals and distribute prices. Trading agents are connected to some or all of the broker nodes. The network is arranged to conform to a series of rules and in a preferred embodiment the brokers are arranged as a clique tree.
    Type: Application
    Filed: January 28, 2008
    Publication date: May 22, 2008
    Inventors: Edward Howorka, Vladimir Neyman, Steven Iaccheo, Neena Jain, James Shu
  • Publication number: 20080120223
    Abstract: An anonymous trading system comprises a network of broker nodes, each of which have an equal status and can match orders, initiate deals and distribute prices. Trading agents are connected to some or all of the broker nodes. The network is arranged to conform to a series of rules and in a preferred embodiment the brokers are arranged as a clique tree.
    Type: Application
    Filed: January 28, 2008
    Publication date: May 22, 2008
    Inventors: Edward Howorka, Vladimir Neyman, Steven Iaccheo, Neena Jain, James Shu
  • Publication number: 20080040256
    Abstract: Joint execution type compound orders can be processed in an anonymous trading system comprising a plurality of broker nodes each of which includes an order matching functionality and a market distribution functionality. Trader agent nodes are connected to a number of dealer terminals grouped in trading floors and also to a broker node. Joint execution orders are entered as hit orders and are all matched by the broker during the hit or the order is cancelled. If matches are made the taker's trading agent does not complete any of the deals marking up the order until it knows that all the deals are executable. The system may be used to allow traders to hit bids and offers in currency pairs synthesised from other currency pairs. In this arrangement the dealer enters a simple order in the synthetic currency and the taker's trading agent converts it into a joint execution order.
    Type: Application
    Filed: August 20, 2007
    Publication date: February 14, 2008
    Inventors: Vladimir Neyman, Steven Iaccheo, Neena Jain, James Shu, Edward Howorka, Andrew Foray, Michael Merold
  • Publication number: 20070124419
    Abstract: In a trading system market data from a matching engine is distributed by a broker to a plurality of trading floors repeatedly every T seconds, typically one second. This one second distribution period is divided into a plurality of time slots and each trading floor is randomly assigned to a slot. Data for a given trading floor is calculated and distributed during the time slot assigned to that floor. The position of a trading floor relative to others is varied by swapping a pair of adjacent time slots every J distribution periods.
    Type: Application
    Filed: September 8, 2006
    Publication date: May 31, 2007
    Applicant: EBS Group Limited
    Inventors: Edward Howorka, Peter Horsfall, Steven Iaccheo, Michael Merold, Schalk Steyn
  • Publication number: 20070043649
    Abstract: Quotes entered into an automated trading system may comprise a visible, or primary, amount, and a linked or hidden amount. The visible amount only is shown to other traders on the system but part or all of the linked amount may be dealt if the order with with the quote is match is for an amount greater than the visible amount. If, after matching and deal confirmation, all the visible amount has been dealt, but some or all of the linked amount remains, a fresh order for the remaining linked amount is generated and submitted to the trading system for matching. The new quoted may be visible only or may have a visible component up to a limit specified by the maker on submission of the original quote, with the remainder being linked. Maker quotes converted to taker quotes by an auto-match routine may be resubmitted for undealt linked amounts in the same way. In one aspect of the invention, linked amounts are matched and dealt before visible amounts.
    Type: Application
    Filed: August 16, 2006
    Publication date: February 22, 2007
    Applicant: EBS Group Limited
    Inventors: EDWARD HOWORKA, Tracey Riordan
  • Publication number: 20060259391
    Abstract: An anonymous computerised trading system matches orders by conducting auctions at specified times. As well as entering orders, participants assign credit limits for the duration of the auction, thus minimising the time for which credit is allocated to the system.
    Type: Application
    Filed: October 21, 2003
    Publication date: November 16, 2006
    Applicant: EBS Group Limited
    Inventors: John Schoen, Nasir Zubairi, Edward Howorka, Neena Jain