Patents by Inventor Jon Werts

Jon Werts 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).

  • Displayed and dark equity options electronic order book with market maker participation
    Patent number: 10198767
    Abstract: An enhanced system and method for executing options trades are disclosed. The lead market maker entitlements are integrated with sophisticated order types, including dark order types, so that the lead marker maker is guaranteed an allocation of the trade if the lead market maker is at the NBBO when an order priced at or better than the NBBO is received. The lead market maker is not provided an opportunity to price improve to execute with a specific incoming order. Additionally, market makers who are not the lead market maker in an option series may be granted the privileges of a lead market maker for the purpose of executing with a specific incoming directed order if the designated market maker is at the NBBO when a directed order priced at or better than the NBBO is received. The system and method disclosed encourages market makers to quote the best price possible, which in turn has the effect of narrowing spreads.
    Type: Grant
    Filed: July 24, 2007
    Date of Patent: February 5, 2019
    Assignee: NYSE Group, Inc.
    Inventors: Peter Armstrong, Amy Farnstrom, Jon Werts
  • Displayed and dark equity options electronic order book with market maker participation
    Publication number: 20090125431
    Abstract: An enhanced system and method for executing options trades are disclosed. The lead market maker entitlements are integrated with sophisticated order types, including dark order types, so that the lead marker maker is guaranteed an allocation of the trade if the lead market maker is at the NBBO when an order priced at or better than the NBBO is received. The lead market maker is not provided an opportunity to price improve to execute with a specific incoming order. Additionally, market makers who are not the lead market maker in an option series may be granted the privileges of a lead market maker for the purpose of executing with a specific incoming directed order if the designated market maker is at the NBBO when a directed order priced at or better than the NBBO is received. The system and method disclosed encourages market makers to quote the best price possible, which in turn has the effect of narrowing spreads.
    Type: Application
    Filed: July 24, 2007
    Publication date: May 14, 2009
    Inventors: Peter Armstrong, Amy Famstrom, Jon Werts