Patents by Inventor Joseph C. Noviello

Joseph C. Noviello 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).

  • Publication number: 20240346589
    Abstract: Systems and methods are provided for routing trading orders. The system determines that a first trading entity disclosed to the trading platform a reserve quantity of a first trading order received from the first entity. The system determines that a second trading entity did not disclose a reserve quantity of a second trading order received from the second trading entity. The system receives a third trading order. The system preferences the first trading entity over the second trading entity in the routing of trading orders, e.g., by routing the third trading order to the first trading entity.
    Type: Application
    Filed: June 25, 2024
    Publication date: October 17, 2024
    Inventors: Matthew W. Claus, Joseph C. Noviello
  • Publication number: 20240338758
    Abstract: An apparatus for processing trade orders comprises a processor and memory that stores first and second orders. The first order is associated with a product and comprises displayed and reserved quantities. The second order is associated with the product and comprises displayed and reserved quantities. The processor is coupled to the memory and receives a counterorder associated with the product. The processor fills the displayed quantity of the first order with a corresponding portion of the counterorder, and the displayed quantity of the second order with a corresponding portion of the counterorder. The processor allocates a first additional portion of the counterorder to the first order. The first additional portion is based at least in part on a ratio of the displayed quantity of the first order to a sum of the displayed quantity of the first order and the displayed quantity of the second order.
    Type: Application
    Filed: June 20, 2024
    Publication date: October 10, 2024
    Inventors: Matthew W. Claus, Kevin M. Foley, Joseph C. Noviello, Howard W. Lutnick
  • Publication number: 20240303736
    Abstract: A system for providing an operator interface for displaying market data, trader options, and trader input includes a memory and a processor. The memory stores market data for a trading product, where the market data includes an inside market price for the trading product. The processor initiates display of a market data section of a tile, where the market data section comprises the market data. The processor initiates display of a trader input section of the tile, where the trader input section comprises options. The processor receives a selection of a bid-offer pair for the trading product from the options and updates the trader input section to indicate the selected bid-offer pair.
    Type: Application
    Filed: May 20, 2024
    Publication date: September 12, 2024
    Inventor: Joseph C. Noviello
  • Publication number: 20240257247
    Abstract: The invention relates to systems and methods that allocate different types of commissions to participants based on at least one factor contributing to the liquidity to the market in which an item trades. The commission may accordingly depend on the order in which trading commands are received from different participants and/or the sides the participants are on. The systems and methods receive trade commands from different participants on the item, match these trade commands, determine a commission or reward based on the added liquidity and allocate the commission or reward to certain participants.
    Type: Application
    Filed: April 12, 2024
    Publication date: August 1, 2024
    Inventors: Howard W. Lutnick, Michael Sweeting, Joseph C. Noviello
  • Patent number: 12051112
    Abstract: An apparatus for routing trading orders comprises a memory and a processor. The memory stores first trading information associated with a first buy order placed with a first market center. The first buy order is associated with a product and the first trading information comprises a disclosed quantity of the product and a reserved quantity of the product. The memory also stores second trading information associated with a second buy order placed with a second market center. The second buy order is associated with the product and the second trading information comprises a disclosed quantity of the product and a reserved quantity of the product. The processor is coupled to the memory and receives a sell order associated with a quantity of the product. The processor further cancels at least a portion of the second buy order placed with the second market center for placement with the first market center.
    Type: Grant
    Filed: April 6, 2023
    Date of Patent: July 30, 2024
    Assignee: BGC PARTNERS, INC.
    Inventors: Matthew W. Claus, Joseph C. Noviello
  • Publication number: 20240221081
    Abstract: Systems and methods for providing trading exclusivity/priority in response to quantity of items traded in electronic trading systems is provided. The method preferably includes receiving an incoming order for the item and determining whether the incoming order matches a current order for the item and satisfies a minimum volume requirement. When the incoming order matches a current order for the item and satisfies a minimum volume requirement, the method includes transacting a trade between the incoming order and the current order and providing a predetermined time period of exclusive trading between a participant associated with the incoming order and a participant associated with the current order.
    Type: Application
    Filed: March 19, 2024
    Publication date: July 4, 2024
    Inventors: Howard W. Lutnick, Joseph C. Noviello, Michael Sweeting, Bijoy Paul
  • Patent number: 12020325
    Abstract: A system for providing an operator interface for displaying market data, trader options, and trader input includes a memory and a processor. The memory stores market data for a trading product, where the market data includes an inside market price for the trading product. The processor initiates display of a market data section of a tile, where the market data section comprises the market data. The processor initiates display of a trader input section of the tile, where the trader input section comprises options. The processor receives a selection of a bid-offer pair for the trading product from the options and updates the trader input section to indicate the selected bid-offer pair.
    Type: Grant
    Filed: March 31, 2023
    Date of Patent: June 25, 2024
    Assignee: BGC PARTNERS, INC.
    Inventor: Joseph C. Noviello
  • Publication number: 20240153001
    Abstract: A computer-based transaction system manages representations of a plurality of positions in a first type of financial instrument, such as bond future contracts. The transaction system, at a first predetermined time, converts each position in the first type of financial instrument into a corresponding position in a second type of financial instrument, such as bonds. At a second predetermined time that is after the first predetermined time, the transaction system converts each position in the second type of financial instrument into a position in the first type of financial instrument.
    Type: Application
    Filed: January 9, 2024
    Publication date: May 9, 2024
    Inventors: Howard W. Lutnick, Michael Sweeting, Joseph C. Noviello
  • Publication number: 20240135452
    Abstract: The invention relates to systems and methods that provide a user interface for use with an electronic trading system. The interface notifies the user that the price at which he or she may have attempted to trade has changed and presents the user with the opportunity to submit, modify or cancel the trade command. The user may configure the trading system to enable such a notification based on the time span for the price change, the number of increments of the price change, a combination thereof or any other appropriate consideration for protecting against the occurrence of erroneous price entries. Subsequent trade commands, such as those entered by third parties, may be used to validate prices and execute trades at these prices.
    Type: Application
    Filed: November 28, 2023
    Publication date: April 25, 2024
    Inventors: Howard W. Lutnick, Kevin M. Foley, Joseph C. Noviello, Lon Steger, Matthew Claus, Michael Sweeting
  • Publication number: 20240062302
    Abstract: A system for managing trading orders comprises a memory operable to store an order associated with a first price. The system further comprises a processor communicatively couple to the memory and operable to identify a latency value. The processor is further operable to receive a counterorder and to identify a potential trade associated with the order and the counterorder, the potential trade based at least in part on the first price. If the latency value satisfies a configurable condition, the processor is further operable to initiate a configurable period of time. If the potential trade is not valid upon expiration of the configurable period, the processor is further operable to prevent the execution of the potential trade.
    Type: Application
    Filed: November 2, 2023
    Publication date: February 22, 2024
    Inventors: Peter Bartko, John Robert Capuano, Joseph C. Noviello, Brian Alexander Weston
  • Publication number: 20240046355
    Abstract: A trading system transitions from a first state to a second state and may award a participant, when one or more criteria and/or a status of trading rights are met, with trading priority in the second state to trade on an incoming contra order. The participant may also have an associated order modified as a result of an incoming contra order and/or be caused to automatically trade on an incoming contra order.
    Type: Application
    Filed: October 17, 2023
    Publication date: February 8, 2024
    Inventors: Howard W. Lutnick, Joseph C. Noviello, Michael Sweeting
  • Patent number: 11869084
    Abstract: The invention relates to systems and methods that provide a user interface for use with an electronic trading system. The interface notifies the user that the price at which he or she may have attempted to trade has changed and presents the user with the opportunity to submit, modify or cancel the trade command. The user may configure the trading system to enable such a notification based on the time span for the price change, the number of increments of the price change, a combination thereof or any other appropriate consideration for protecting against the occurrence of erroneous price entries. Subsequent trade commands, such as those entered by third parties, may be used to validate prices and execute trades at these prices.
    Type: Grant
    Filed: July 25, 2022
    Date of Patent: January 9, 2024
    Assignee: BGC PARTNERS, INC.
    Inventors: Howard W. Lutnick, Kevin M. Foley, Joseph C. Noviello, Lon Steger, Matthew Claus, Michael Sweeting
  • Patent number: 11842399
    Abstract: A system for managing trading orders comprises a memory operable to store an order associated with a first price. The system further comprises a processor communicatively couple to the memory and operable to identify a latency value. The processor is further operable to receive a counterorder and to identify a potential trade associated with the order and the counterorder, the potential trade based at least in part on the first price. If the latency value satisfies a configurable condition, the processor is further operable to initiate a configurable period of time. If the potential trade is not valid upon expiration of the configurable period, the processor is further operable to prevent the execution of the potential trade.
    Type: Grant
    Filed: May 24, 2022
    Date of Patent: December 12, 2023
    Assignee: BGC PARTNERS, INC.
    Inventors: Peter Bartko, John Robert Capuano, Joseph C. Noviello, Brian Alexander Weston
  • Publication number: 20230377041
    Abstract: In various embodiments, an apparatus includes a processor and a memory. The memory is communicatively coupled to the processor. The memory stores software instructions that, when executed by the processor, cause the processor to receive a trading order for a particular quantity of a trading product. The trading order specifies that a first portion of the particular quantity is a displayed quantity and that a second portion of the particular quantity is a reserved quantity. The trading order specifies at least one of a decay rule, a decay interval, a decay rate, decay quantity, and one or more conditions. The software instructions, when executed by the processor, cause the processor to cause the reserved quantity to decay based at least in part on at least one of the decay rule, the decay interval, the decay rate, and the decay quantity, and one or more conditions.
    Type: Application
    Filed: August 4, 2023
    Publication date: November 23, 2023
    Inventor: Joseph C. Noviello
  • Publication number: 20230334568
    Abstract: According to one embodiment, a method of managing trading is provided. In a market for a particular type of instrument, electronic data including buy orders and sell orders are received from a plurality of traders. Each buy order has an associated bid price, and each sell order has an associated offer price. A determination is made of whether the particular trading order is an outlying trading order by electronically determining whether the particular trading order differs from at least one comparison price by more than a threshold value. If it is determined that the particular trading is an outlying trading order, a restrictive action is taken regarding one or more trading orders. For example, if a trader subsequently submits another trading order that would trade with the outlying trading order, an electronic alert message may be sent to the trader and the subsequent trading order may be prevented from trading with the outlying trading order at least temporarily.
    Type: Application
    Filed: June 26, 2023
    Publication date: October 19, 2023
    Inventors: Joseph C. Noviello, Michael Sweeting, Howard W. Lutnick
  • Publication number: 20230334566
    Abstract: A system for managing trading orders comprises a memory to store a first trading order for a particular trading product, wherein the first trading order comprises display and reserve portions and is received from a first trader. The memory may store a second trading order for the particular trading product, wherein the second trading order comprises display and reserve portions and is received from a second trader after the first trading order. A processor of the system communicatively coupled to the memory may receive from a counterparty trader a counterorder for the trading product. The processor may use the counterorder to fill the display portions respectively of the first and second trading orders. After filling the display portion of the second trading order, the processor may exclusively offer at least a portion of the counterorder to the first trader for a configurable period of time.
    Type: Application
    Filed: June 20, 2023
    Publication date: October 19, 2023
    Inventors: Matthew W. Claus, Kevin M. Foley, Joseph C. Noviello, Howard W. Lutnick
  • Patent number: 11763385
    Abstract: In various embodiments, an apparatus includes a processor and a memory. The memory is communicatively coupled to the processor. The memory stores software instructions that, when executed by the processor, cause the processor to receive a trading order for a particular quantity of a trading product. The trading order specifies that a first portion of the particular quantity is a displayed quantity and that a second portion of the particular quantity is a reserved quantity. The trading order specifies at least one of a decay rule, a decay interval, a decay rate, decay quantity, and one or more conditions. The software instructions, when executed by the processor, cause the processor to cause the reserved quantity to decay based at least in part on at least one of the decay rule, the decay interval, the decay rate, and the decay quantity, and one or more conditions.
    Type: Grant
    Filed: March 28, 2022
    Date of Patent: September 19, 2023
    Assignee: BGC PARTNERS, INC.
    Inventor: Joseph C. Noviello
  • Publication number: 20230281706
    Abstract: An apparatus for processing trading orders comprises a memory and a processor. The memory stores a first order and a second order. The first order is associated with a product and comprises a displayed quantity and a reserved quantity. The second order is associated with the product and comprises a displayed quantity and a reserved quantity. The processor is coupled to the memory and receives a counterorder associated with the product. The processor fills the displayed quantity of the first order with a corresponding portion of the counterorder, and fills the displayed quantity of the second order with a corresponding portion of the counterorder. The processor allocates a first additional portion of the counterorder to the first order. The first additional portion is based at least in part on a ratio of the displayed quantity of the first order to a sum of the displayed quantity of the first order and the displayed quantity of the second order.
    Type: Application
    Filed: May 9, 2023
    Publication date: September 7, 2023
    Inventors: Matthew W. Claus, Kevin M. Foley, Joseph C. Noviello, Howard W. Lutnick
  • Publication number: 20230274354
    Abstract: A system for providing an operator interface for displaying market data, trader options, and trader input includes a memory and a processor. The memory stores market data for a trading product, where the market data includes an inside market price for the trading product. The processor initiates display of a market data section of a tile, where the market data section comprises the market data. The processor initiates display of a trader input section of the tile, where the trader input section comprises options. The processor receives a selection of a bid-offer pair for the trading product from the options and updates the trader input section to indicate the selected bid-offer pair.
    Type: Application
    Filed: March 31, 2023
    Publication date: August 31, 2023
    Inventor: Joseph C. Noviello
  • Publication number: 20230260028
    Abstract: Systems and methods for providing trading exclusivity/priority in response to quantity of items traded in electronic trading systems is provided. The method preferably includes receiving an incoming order for the item and determining whether the incoming order matches a current order for the item and satisfies a minimum volume requirement. When the incoming order matches a current order for the item and satisfies a minimum volume requirement, the method includes transacting a trade between the incoming order and the current order and providing a predetermined time period of exclusive trading between a participant associated with the incoming order and a participant associated with the current order.
    Type: Application
    Filed: April 28, 2023
    Publication date: August 17, 2023
    Inventors: Howard W. Lutnick, Joseph C. Noviello, Michael Sweeting, Bijoy Paul