Patents by Inventor Eric M. Herz
Eric M. Herz 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: 11361377Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.Type: GrantFiled: June 5, 2020Date of Patent: June 14, 2022Assignee: Trading Technologies International, Inc.Inventor: Eric M. Herz
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Publication number: 20200302531Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.Type: ApplicationFiled: June 5, 2020Publication date: September 24, 2020Inventor: Eric M. Herz
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Patent number: 10713720Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.Type: GrantFiled: September 11, 2018Date of Patent: July 14, 2020Assignee: Trading Technologies International, Inc.Inventor: Eric M. Herz
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Publication number: 20190005581Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.Type: ApplicationFiled: September 11, 2018Publication date: January 3, 2019Inventor: Eric M. Herz
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Patent number: 10115159Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.Type: GrantFiled: November 4, 2013Date of Patent: October 30, 2018Assignee: Trading Technologies International, Inc.Inventor: Eric M. Herz
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Publication number: 20140236797Abstract: A system and associated methods are provided for use of fractional pay-up ticks in relation to offset orders being sent for a trading strategy that involves trading a first tradeable object and at least a second tradeable object. According to one example method, when an indication is received that a quantity at a first price for the first tradeable object is filled, a plurality of offset orders for the second tradeable object is sent to an electronic order book of the second tradeable object. The plurality of offset orders is placed at a plurality of price levels determined based on at least one fractional pay-up tick value, the first price, and the desired spread price. A quantity for each order is determined based on a quantity divider rule that is applied to an offset quantity to offset the fill.Type: ApplicationFiled: February 20, 2014Publication date: August 21, 2014Applicant: Trading Technologies International, Inc.Inventors: Sagy P. Mintz, Eric M. Herz, Alexander D. Deitz
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Publication number: 20140229355Abstract: A system and associated methods are provided for smart hedging in an electronic trading environment. According to one example method, a first order for a first tradeable object and a second order for a second tradeable object are placed based on a spread strategy. Upon receiving an indication that a quantity of the first order is filled, the method involves determining if the second order can be used to offset the quantity filled of the first order by determining if a price of the second order would result in achieving a desired spread price defined for the spread strategy. If the price results in the desired price, the second order is used to offset the quantity filled for the first order in an attempt to achieve the desired spread price. Other tools are provided as well.Type: ApplicationFiled: September 10, 2013Publication date: August 14, 2014Inventors: Michael J. Burns, Sagy P. Mintz, Eric M. Herz, Alexander D. Deitz
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Publication number: 20140195408Abstract: A system and associated methods are provided for intelligent placement and movement of orders in an electronic trading environment. According to one example method, in addition to submitting a leg order at a calculated price level, additional orders, queue holder orders, are submitted for the leg order at prices either below or above the calculated price level. Based on this configuration, if the conditions change such that it is necessary to re-price the leg order, there will be already an order resting in the exchange order book at the re-calculated price that can be used in the strategy. Upon re-pricing the leg order, one or more additional queue holder orders will be placed in the market. Other tools are provided as well.Type: ApplicationFiled: March 10, 2014Publication date: July 10, 2014Applicant: TRADING TECHNOLOGIES INTERNATIONAL, INC.Inventors: Michael J. Burns, Eric M. Herz, Sagy P. Mintz, Alexander D. Deitz
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Patent number: 8751368Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.Type: GrantFiled: December 10, 2012Date of Patent: June 10, 2014Assignee: Trading Technologies International, Inc.Inventor: Eric M. Herz
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Patent number: 8712904Abstract: A system and associated methods are provided for intelligent placement and movement of orders in an electronic trading environment. According to one example method, in addition to submitting a leg order at a calculated price level, additional orders, queue holder orders, are submitted for the leg order at prices either below or above the calculated price level. Based on this configuration, if the conditions change such that it is necessary to re-price the leg order, there will be already an order resting in the exchange order book at the re-calculated price that can be used in the strategy. Upon re-pricing the leg order, one or more additional queue holder orders will be placed in the market. Other tools are provided as well.Type: GrantFiled: October 12, 2012Date of Patent: April 29, 2014Assignee: Trading Technologies International, Inc.Inventors: Michael J. Burns, Eric M. Herz, Sagy Pundak Mintz, Alexander D. Dietz
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Patent number: 8706611Abstract: A system and associated methods are provided for use of fractional pay-up ticks in relation to offset orders being sent for a trading strategy that involves trading a first tradeable object and at least a second tradeable object. According to one example method, when an indication is received that a quantity at a first price for the first tradeable object is filled, a plurality of offset orders for the second tradeable object is sent to an electronic order book of the second tradeable object. The plurality of offset orders is placed at a plurality of price levels determined based on at least one fractional pay-up tick value, the first price, and the desired spread price. A quantity for each order is determined based on a quantity divider rule that is applied to an offset quantity to offset the fill.Type: GrantFiled: August 15, 2013Date of Patent: April 22, 2014Assignee: Trading Technologies International, Inc.Inventors: Sagy P. Mintz, Eric M. Herz, Alexander D. Deitz
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Publication number: 20140058922Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.Type: ApplicationFiled: November 4, 2013Publication date: February 27, 2014Applicant: TRADING TECHNOLOGIES INTERNATIONAL, INC.Inventor: Eric M. Herz
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Publication number: 20130339213Abstract: A system and associated methods are provided for use of fractional pay-up ticks in relation to offset orders being sent for a trading strategy that involves trading a first tradeable object and at least a second tradeable object. According to one example method, when an indication is received that a quantity at a first price for the first tradeable object is filled, a plurality of offset orders for the second tradeable object is sent to an electronic order book of the second tradeable object. The plurality of offset orders is placed at a plurality of price levels determined based on at least one fractional pay-up tick value, the first price, and the desired spread price. A quantity for each order is determined based on a quantity divider rule that is applied to an offset quantity to offset the fill.Type: ApplicationFiled: August 15, 2013Publication date: December 19, 2013Applicant: Trading Technologies International, Inc.Inventors: Sagy P. Mintz, Eric M. Herz, Alexander D. Deitz
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Patent number: 8606689Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.Type: GrantFiled: December 10, 2012Date of Patent: December 10, 2013Assignee: Trading Technologies International, Inc.Inventor: Eric M. Herz
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Patent number: 8560430Abstract: A system and associated methods are provided for smart hedging in an electronic trading environment. According to one example method, a first order for a first tradeable object and a second order for a second tradeable object are placed based on a spread strategy. Upon receiving an indication that a quantity of the first order is filled, the method involves determining if the second order can be used to offset the quantity filled of the first order by determining if a price of the second order would result in achieving a desired spread price defined for the spread strategy. If the price results in the desired price, the second order is used to offset the quantity filled for the first order in an attempt to achieve the desired spread price. Other tools are provided as well.Type: GrantFiled: July 31, 2012Date of Patent: October 15, 2013Assignee: Trading Technologies International, Inc.Inventors: Michael J. Burns, Sagy P. Mintz, Eric M. Herz, Alexander D. Dietz
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Patent number: 8538855Abstract: A system and associated methods are provided for use of fractional pay-up ticks in relation to offset orders being sent for a trading strategy that involves trading a first tradeable object and at least a second tradeable object. According to one example method, when an indication is received that a quantity at a first price for the first tradeable object is filled, a plurality of offset orders for the second tradeable object is sent to an electronic order book of the second tradeable object. The plurality of offset orders is placed at a plurality of price levels determined based on at least one fractional pay-up tick value, the first price, and the desired spread price. A quantity for each order is determined based on a quantity divider rule that is applied to an offset quantity to offset the fill.Type: GrantFiled: March 31, 2010Date of Patent: September 17, 2013Assignee: Trading Technologies International, Inc.Inventors: Sagy P. Mintz, Eric M. Herz, Alexander D. Deitz
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Patent number: 8359262Abstract: A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.Type: GrantFiled: March 26, 2012Date of Patent: January 22, 2013Assignee: Trading Technologies International, Inc.Inventor: Eric M. Herz
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Publication number: 20120296803Abstract: A system and associated methods are provided for smart hedging in an electronic trading environment. According to one example method, a first order for a first tradeable object and a second order for a second tradeable object are placed based on a spread strategy. Upon receiving an indication that a quantity of the first order is filled, the method involves determining if the second order can be used to offset the quantity filled of the first order by determining if a price of the second order would result in achieving a desired spread price defined for the spread strategy. If the price results in the desired price, the second order is used to offset the quantity filled for the first order in an attempt to achieve the desired spread price. Other tools are provided as well.Type: ApplicationFiled: July 31, 2012Publication date: November 22, 2012Applicant: TRADING TECHNOLOGIES INTERNATIONAL, INC.Inventors: Michael J. Burns, Sagy P. Mintz, Eric M. Herz, Alexander D. Deitz
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Patent number: 8311932Abstract: A system and associated methods are provided for intelligent placement and movement of orders in an electronic trading environment. According to one example method, in addition to submitting a leg order at a calculated price level, additional orders, queue holder orders, are submitted for the leg order at prices either below or above the calculated price level. Based on this configuration, if the conditions change such that it is necessary to re-price the leg order, there will be already an order resting in the exchange order book at the re-calculated price that can be used in the strategy. Upon re-pricing the leg order, one or more additional queue holder orders will be placed in the market. Other tools are provided as well.Type: GrantFiled: October 17, 2011Date of Patent: November 13, 2012Assignee: Trading Technologies International, Inc.Inventors: Michael J. Burns, Eric M. Herz, Sagy P. Mintz, Alexander D. Dietz
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Patent number: 8266049Abstract: A system and associated methods are provided for smart hedging in an electronic trading environment. According to one example method, a first order for a first tradeable object and a second order for a second tradeable object are placed based on a spread strategy. Upon receiving an indication that a quantity of the first order is filled, the method involves determining if the second order can be used to offset the quantity filled of the first order by determining if a price of the second order would result in achieving a desired spread price defined for the spread strategy. If the price results in the desired price, the second order is used to offset the quantity filled for the first order in an attempt to achieve the desired spread price. Other tools are provided as well.Type: GrantFiled: April 9, 2012Date of Patent: September 11, 2012Assignee: Trading Technologies International, Inc.Inventors: Michael J. Burns, Sagy P. Mintz, Eric M. Herz, Alexander D. Dietz