Patents by Inventor Michael J. Burns

Michael J. Burns 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).

  • System and Method For Creating A Market Map In An Electronic Trading Environment
    Publication number: 20140222640
    Abstract: A market map interface displays market information and trader-related information associated with at least two tradable objects. In one embodiment, the at least two graphical interfaces may be linked, and a user may define one or more adjustment parameters to be used to adjust the view of information being displayed via the linked graphical interfaces. For instance, a user may initiate repositioning of one of the linked graphical interfaces, thus, effectively, causing other linked graphical interfaces to be repositioned according to the defined adjustment parameters.
    Type: Application
    Filed: September 5, 2013
    Publication date: August 7, 2014
    Applicant: Trading Technologies International, Inc.
    Inventors: Robert J. Kline, Michael J. Burns, Robert A. West
  • System and method for improved order entry using market depth
    Patent number: 8799144
    Abstract: Market depth information pertaining to the hedging side is utilized to intelligently break a non-hedging order into multiple orders, such that the orders rest at cascading price levels. This way, the trader can benefit from sweeps in the book and still properly account for the market depth on the hedging side. Further, there is a greater probability of receiving “partials” on the spread order. In addition, hedge orders may be sent at multiple price levels, or sent to the market in pieces over time. By applying a more intelligent process to hedge orders (as opposed to “fire and forget”) an alternative beyond limit orders that can be legged or market orders is provided.
    Type: Grant
    Filed: April 1, 2013
    Date of Patent: August 5, 2014
    Assignee: Trading Technologies International, Inc.
    Inventors: Fred Monroe, Michael J. Burns, Scott F. Singer
  • Embedded Nanopatterns for Optical Absorbance and Photovoltaics
    Publication number: 20140209154
    Abstract: Devices and methods for enhancing optical absorbance and photovoltaics are disclosed. In some embodiments, a light absorbing device comprises a light absorbing material having a front surface and a back surface, and a planar array of nanostructures embedded within the light absorbing material between the front surface and the back surface of the light absorbing material. The nanostructures may be formed from a metallic material.
    Type: Application
    Filed: August 17, 2012
    Publication date: July 31, 2014
    Inventors: Michael J. Naughton, Michael J. Burns, Fan Ye
  • Method, apparatus and interface for trading multiple tradeable objects
    Patent number: 8793181
    Abstract: An interface for trading multiple tradeable objects includes a price axis or scale. A first indication of quantities represented in a market for a first tradeable object is displayed in association with the price axis or scale. A second indication of quantities represented in the market for a second tradeable object is displayed in association with the price axis or scale. The first tradeable object may be different than the second tradeable object. Alternatively, the first tradeable object and the second tradeable object may be the same, but the indications of quantity may be provided from different sources, such as different exchanges.
    Type: Grant
    Filed: October 24, 2012
    Date of Patent: July 29, 2014
    Assignee: Trading Technologies International, Inc.
    Inventor: Michael J. Burns
  • Distributed server side device architecture
    Patent number: 8781946
    Abstract: An electronic trading method is provided. The method includes receiving a trading strategy order having a parent trading strategy including multiple quoting legs; splitting the trading strategy order into multiple child orders; and submitting each of the multiple child orders to exchange systems adapted to fill the quoting legs in the child orders. Each child order includes a child trading strategy having a single quoting leg or a reduced number of quoting legs relative to the parent trading strategy. The child trading strategies are the same as the parent trading strategy except for the number of legs marked as quoting legs. The method may be performed by a trading strategy device disposed between a client device and multiple server side devices.
    Type: Grant
    Filed: July 14, 2010
    Date of Patent: July 15, 2014
    Assignee: Trading Technologies International, Inc.
    Inventors: Sagy Pundak Mintz, Michael J. Burns
  • System and method for displaying profit related information in an electronic trading environment
    Patent number: 8781950
    Abstract: A system and method for displaying a plurality of profit and risk related indicators are described. A graphical interface displays and dynamically updates a plurality of profit/loss (P/L) indicators including a realized, net, and open indicator. The net and open indicators are based on a trader's net position and a current market level, while the realized indicator is based on trader's buys and sells associated with a tradeable object. In one embodiment, the plurality of indicators are displayed in relation to a plurality of money management regions defining a maximum order quantity and a maximum net position controlling the trader's trades, so that a trader can quickly determine his current as well as potential money management parameters.
    Type: Grant
    Filed: May 14, 2013
    Date of Patent: July 15, 2014
    Assignee: Trading Technologies International, Inc.
    Inventors: Robert A. West, Michael J. Burns
  • System and method for displaying money management information in an electronic trading environment
    Patent number: 8781949
    Abstract: A system and method for displaying a plurality of profit and risk related indicators are described. A graphical interface displays and dynamically updates a plurality of profit/loss (P/L) indicators including a realized, net, and open indicator. The net and open indicators are based on a trader's net position and a current market level, while the realized indicator is based on trader's buys and sells associated with a tradeable objects. In one embodiment, the plurality of indicators are displayed in relation to a plurality of money management regions defining a maximum order quantity and a maximum net position controlling the trader's trades, so that a trader can quickly determine his current as well as potential money management parameters.
    Type: Grant
    Filed: February 7, 2013
    Date of Patent: July 15, 2014
    Assignee: Trading Technologies International, Inc.
    Inventors: Robert A. West, Michael J. Burns
  • System and Method for Order Placement in an Electronic Trading Environment
    Publication number: 20140195408
    Abstract: 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: Application
    Filed: March 10, 2014
    Publication date: July 10, 2014
    Applicant: TRADING TECHNOLOGIES INTERNATIONAL, INC.
    Inventors: Michael J. Burns, Eric M. Herz, Sagy P. Mintz, Alexander D. Deitz
  • System and method for displaying market information and order placement in an electronic trading environment
    Patent number: 8775293
    Abstract: A system and method are provided for displaying a trading screen and placing an order in an electronic trading environment. The system and method may be used to assist a trader in selecting an item of interest, such as the inside market (best bid and best ask) to be displayed relative to a user configured location on the trading screen, such as the center of the trading screen. In a preferred embodiment, the inside market will stay located relative to center of the trading screen and the price levels associated to the inside market will move as the market conditions fluctuate. Other features and advantages are described herein.
    Type: Grant
    Filed: August 1, 2013
    Date of Patent: July 8, 2014
    Assignee: Trading Technologies International, Inc
    Inventors: Robert A. West, Michael J. Burns
  • System and method for displaying risk data in an electronic trading environment
    Patent number: 8775289
    Abstract: An example graphical interface and method for displaying risk related data are described. One example graphical interface includes a data structure comprising a plurality of data nodes and at least one risk data point associated with each node, and further comprises a display grid. The display grid includes one or more cells that are used for displaying selected data nodes and risk data points. Each cell may be associated with a single data node, and may include one or more identifiers corresponding to risk data points of the data node. In one example embodiment, the identifiers are aligned along a single axis, and risk related data corresponding to each identifier is aligned with respect to each corresponding identifier.
    Type: Grant
    Filed: June 6, 2013
    Date of Patent: July 8, 2014
    Assignee: Trading Technologies International, Inc.
    Inventors: Robert A. West, Michael J. Burns
  • Trading interface for facilitating trading of multiple tradeable objects in an electronic trading environment
    Patent number: 8768822
    Abstract: A system and method are provided for trading multiple tradeable objects. One example method includes displaying at least one combined quantity indicator representing a combined quantity associated with at least two tradeable objects, detecting an input associated with an order for a predetermined order quantity in relation to one of the combined quantity indicators, and allocating the order quantity between the at least two tradeable objects using at least one quantity allocation rule. In one example embodiment, a plurality of quantity allocation rules can be user-configurable, and different rules can be defined and applied in relation to different order types.
    Type: Grant
    Filed: October 24, 2012
    Date of Patent: July 1, 2014
    Assignee: Trading Technologies International, Inc.
    Inventors: Michael J. Burns, Robert A. West, Gerald J. O'Connor, Stephen J. Murphy, Scott F. Singer
  • SYSTEM AND METHOD FOR DYNAMICALLY CHANGING AN ELECTRONIC TRADE ORDER QUANTITY
    Publication number: 20140180894
    Abstract: A system and methods for dynamically changing a trade order quantity in an electronic trading environment are described herein. According to one example embodiment, an automated trading tool determines if a leaned on quantity of a trading strategy has increased or decreased and if so, dynamically changing a desired order quantity to reflect the change in the leaned on quantity. Dynamically changing an order quantity may be more profitable for a trader as order queue position may be maintained and portion of the desired order quantity may get filled; rather than a trader losing their order queue position and/or taking a chance of not getting any of their order quantity filled.
    Type: Application
    Filed: July 24, 2013
    Publication date: June 26, 2014
    Applicant: Trading Technologies International, Inc.
    Inventors: Sagy P. Mintz, Michael J. Burns, Thomas A. Peterson
  • System and method for estimating order position
    Patent number: 8762254
    Abstract: A system and method for providing order queue position information are disclosed. In this application, market updates are received for a tradeable object from at least one exchange. To the extent that the market updates do not include enough details to compute the queue position of a trader's working orders, estimation may be used. As a result, an order queue is generated to approximate a trader's order position in an exchange price order queue. An interface may be used to display the generated order queue estimation to the trader which provides valuable trading information.
    Type: Grant
    Filed: December 20, 2012
    Date of Patent: June 24, 2014
    Assignee: Trading Technologies International, Inc.
    Inventors: Robert A. West, Ryan N. Andrews, Jens-Uwe Schluetter, David W. Garrison, Michael J. Burns
  • System and Method for Providing a Linear Spread
    Publication number: 20140172666
    Abstract: A system and method for providing a linear spread in an electronic trading environment are described. According to one example embodiment, a trading system can receive market information associated to a trading strategy, known as a spread. The trader may also define a market volatility parameter to utilize in the calculation of a linear spread price axis. The received market information and a divide spread algorithm are also used to determine the linear spread price axis. The trading application determines a linear spread price axis, at which price levels are separated by consistent linear tick increments. The linear spread price axis allows for more efficient and effective trading in the electronic trading environment especially when certain tradeable objects are traded or when certain spread algorithms, like the divide spread algorithm, are utilized.
    Type: Application
    Filed: July 3, 2013
    Publication date: June 19, 2014
    Inventors: Sagy P. Mintz, Michael J. Burns
  • AGGREGATED TRADING SYSTEM
    Publication number: 20140172673
    Abstract: A trading system is described herein for hosting a collection of one or more electronic exchanges. The collection of electronic exchanges may be made up of separately designated exchanges under one or more authorizing and regulating bodies. The trading system receives from traders bids to purchase and offers to sell a tradeable object listed at one of the electronic exchanges. Then, the trading system directs the bids and offers to the appropriate exchange where the bids and offers may be automatically matched in the corresponding market. The trading system may also be used to take actions in one or more markets that are internal and external to the trading system on behalf of a trader using preprogrammed trading instructions.
    Type: Application
    Filed: December 18, 2013
    Publication date: June 19, 2014
    Applicant: Trading Technologies International, Inc.
    Inventors: Michael J. Burns, Fred Monroe
  • System and method for automated order entry on short queues
    Patent number: 8751358
    Abstract: Orders are automatically sent to the market when certain user defined conditions are met. In particular, a trader can configure the trading application to automatically send orders for preset quantities at price levels with queues falling below a user defined threshold. The length of queues may be measured in several ways, for example, the queue length could be measured by quantity at a given price level or the queue length could be measured by the number of orders at a given price level, or the queue length could be measured by a combination of quantity and orders. The present embodiments can more quickly recognize opportunities and send an order to take advantage of it than a trader can do manually. Other advantages and features are described herein.
    Type: Grant
    Filed: March 27, 2012
    Date of Patent: June 10, 2014
    Assignee: Trading Technologies International, Inc
    Inventors: Steven F. Borsand, Michael J. Burns, Scott F. Singer
  • Method and apparatus for providing order queue information
    Patent number: 8738505
    Abstract: A system and method for providing market information are disclosed. In this application, updates are received for a tradeable object at a price level from at least one exchange. To the extent that the updates do not include enough details to compute the number of orders resting at a particular price level in a market, estimation may be used to provide order queue information. As a result, the number of orders which are pending in the market at various price levels may be determined using the techniques described herein. The interface disclosed herein may be used to display the number and/or quantity of the orders in the order queue.
    Type: Grant
    Filed: June 25, 2012
    Date of Patent: May 27, 2014
    Assignee: Trading Technologies International, Inc.
    Inventors: Ryan N. Andrews, Robert A. West, Jens-Uwe Schluetter, David W. Garrison, Michael J. Burns
  • System and method for money management using a plurality of profit levels in an electronic trading environment
    Patent number: 8738510
    Abstract: A system and method for money management in an electronic trading environment are presented. According to one embodiment, a money management application intercepts an order before the order is sent to an exchange, and determines a plurality of P/L levels, based on which the money management application then selects a set of money management parameters to be used to control or modify order parameters before the order is sent to the exchange. The plurality of profit levels may include a net profit level determined based on a trader's net position and a current market level, a realized profit level determined based on trader's sells and buys associated with the tradeable object, or an open profit level determined based on the realized and net profit levels.
    Type: Grant
    Filed: August 9, 2013
    Date of Patent: May 27, 2014
    Assignee: Trading Technologies International, Inc.
    Inventors: Robert A. West, Michael J. Burns, Peter F. Ziemkiewicz, Ryan J. Highland
  • System and Method for Providing Market Updates in an Electronic Trading Environment
    Publication number: 20140143118
    Abstract: A system and method are provided for modifying how market updates are provided in an electronic trading environment upon detecting one or more triggering events. One example method includes defining an event to be used to trigger modification of how market updates are provided to a client entity, receiving a market update from an electronic exchange, and, when the event is detected, modifying how the market update is provided to the client entity. As an example, the modification of how the market update is provided to the client entity may include providing less data in relation to market updates, and sending the market updates less frequently.
    Type: Application
    Filed: October 7, 2013
    Publication date: May 22, 2014
    Inventors: Stephen A. Schwarz, Michael J. Burns
  • System and method for processing and displaying quantity information during user-configurable time periods
    Patent number: 8732064
    Abstract: A system and method for displaying quantity related information determined for a plurality of time periods are described. According to one method, a trader may define one or more time periods for which a trading application may determine traded quantities, traded buys, traded sells, or other quantity related information at a plurality of price levels during the defined time periods. The trading application may then graphically display the quantities for each time period in relation to the static axis of prices. The method further includes periodically updating the displayed traded quantity to reflect the quantity during the defined time period, where the quantity is updated based on subsequent market updates that are received from the exchange for the tradable object.
    Type: Grant
    Filed: February 25, 2011
    Date of Patent: May 20, 2014
    Assignee: Trading Technologies International, Inc
    Inventors: Scott F. Singer, Michael J. Burns, Robert A. West, Stephen A. Schwarz