Patents by Inventor Michael Merold
Michael Merold 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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Publication number: 20230222587Abstract: Orders received by an electronic trading system are processed in batches based on the instrument to which an order relates. An incoming order is assigned to a queue of a queue set that makes up the batch according to a random process. Where orders are received from related trading parties, they are assigned to the same queue set according to their time of receipt. The batch has a random duration within defined minimum and maximum durations and at the end of the batch, the orders held in the queues are transferred to a matching thread of the trading system sequentially with one order being removed from each queue and a number of passes of the queues completed until orders have been removed.Type: ApplicationFiled: March 17, 2023Publication date: July 13, 2023Applicant: NEX Services North America LLCInventors: Michael Merold, John E. Schoen
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Patent number: 11636544Abstract: Orders received by an electronic trading system are processed in batches based on the instrument to which an order relates. An incoming order is assigned to a queue of a queue set that makes up the batch according to a random process. Where orders are received from related trading parties, they are assigned to the same queue set according to their time of receipt. The batch has a random duration within defined minimum and maximum durations and at the end of the batch, the orders held in the queues are transferred to a matching thread of the trading system sequentially with one order being removed from each queue and a number of passes of the queues completed until orders have been removed.Type: GrantFiled: February 28, 2022Date of Patent: April 25, 2023Assignee: NEX Services North America LLCInventors: Michael Merold, John E. Schoen
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Publication number: 20220180439Abstract: Orders received by an electronic trading system are processed in batches based on the instrument to which an order relates. An incoming order is assigned to a queue of a queue set that makes up the batch according to a random process. Where orders are received from related trading parties, they are assigned to the same queue set according to their time of receipt. The batch has a random duration within defined minimum and maximum durations and at the end of the batch, the orders held in the queues are transferred to a matching thread of the trading system sequentially with one order being removed from each queue and a number of passes of the queues completed until orders have been removed.Type: ApplicationFiled: February 28, 2022Publication date: June 9, 2022Applicant: NEX Services North America LLCInventors: Michael Merold, John E. Schoen
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Patent number: 11295384Abstract: Orders received by an electronic trading system are processed in batches based on the instrument to which an order relates. An incoming order is assigned to a queue of a queue set that makes up the batch according to a random process. Where orders are received from related trading parties, they are assigned to the same queue set according to their time of receipt. The batch has a random duration within defined minimum and maximum durations and at the end of the batch, the orders held in the queues are transferred to a matching thread of the trading system sequentially with one order being removed from each queue and a number of passes of the queues completed until orders have been removed.Type: GrantFiled: February 24, 2020Date of Patent: April 5, 2022Assignee: NEX Services North America LLCInventors: Michael Merold, John E. Schoen
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Publication number: 20200193518Abstract: Orders received by an electronic trading system are processed in batches based on the instrument to which an order relates. An incoming order is assigned to a queue of a queue set that makes up the batch according to a random process. Where orders are received from related trading parties, they are assigned to the same queue set according to their time of receipt. The batch has a random duration within defined minimum and maximum durations and at the end of the batch, the orders held in the queues are transferred to a matching thread of the trading system sequentially with one order being removed from each queue and a number of passes of the queues completed until orders have been removed.Type: ApplicationFiled: February 24, 2020Publication date: June 18, 2020Applicant: NEX Services North America LLCInventors: Michael Merold, John E. Schoen
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Patent number: 10614523Abstract: Orders received by an electronic trading system are processed in batches based on the instrument to which an order relates. An incoming order is assigned to a queue of a queue set that makes up the batch according to a random process. Where orders are received from related trading parties they are assigned to the same queue set according to their time of receipt. The batch has a random duration within defined minimum and maximum durations and at the end of the batch, the orders held in the queues are transferred to a matching thread of the trading system sequentially with one order being removed from each queue and a number of passes of the queues completed until orders have been removed.Type: GrantFiled: October 16, 2018Date of Patent: April 7, 2020Assignee: Chicago Mercantile Exchange Inc.Inventors: Michael Merold, John E. Schoen
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Publication number: 20190251628Abstract: Orders received by an electronic trading system are processed in batches based on the instrument to which an order relates. An incoming order is assigned to a queue of a queue set that makes up the batch according to a random process. Where orders are received from related trading parties they are assigned to the same queue set according to their time of receipt. The batch has a random duration within defined minimum and maximum durations and at the end of the batch, the orders held in the queues are transferred to a matching thread of the trading system sequentially with one order being removed from each queue and a number of passes of the queues completed until orders have been removed.Type: ApplicationFiled: October 16, 2018Publication date: August 15, 2019Inventors: Michael Merold, John E. Schoen
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Patent number: 10102577Abstract: Orders received by an electronic trading system are processed in batches based on the instrument to which an order relates. An incoming order is assigned to a queue of a queue set that makes up the batch according to a random process. Where orders are received from related trading parties they are assigned to the same queue set according to their time of receipt. The batch has a random duration within defined minimum and maximum durations and at the end of the batch, the orders held in the queues are transferred to a matching thread of the trading system sequentially with one order being removed from each queue and a number of passes of the queues completed until orders have been removed.Type: GrantFiled: September 9, 2014Date of Patent: October 16, 2018Assignee: NEX Services North America LLCInventors: Michael Merold, John E. Schoen
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Publication number: 20150073970Abstract: Orders received by an electronic trading system are processed in batches based on the instrument to which an order relates. An incoming order is assigned to a queue of a queue set that makes up the batch according to a random process. Where orders are received from related trading parties they are assigned to the same queue set according to their time of receipt. The batch has a random duration within defined minimum and maximum durations and at the end of the batch, the orders held in the queues are transferred to a matching thread of the trading system sequentially with one order being removed from each queue and a number of passes of the queues completed until orders have been removed.Type: ApplicationFiled: September 9, 2014Publication date: March 12, 2015Inventors: Michael Merold, John E. Shoen
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Patent number: 8566221Abstract: 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: GrantFiled: May 17, 2011Date of Patent: October 22, 2013Assignee: EBS Group LimitedInventors: Vladimir Neyman, Steven Iaccheo, Neena Jain, James Shu, Edward Howorka, Andrew Foray, Michael Merold
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Patent number: 8416801Abstract: 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: GrantFiled: November 1, 2010Date of Patent: April 9, 2013Assignee: EBS Group LimitedInventors: Edward Howorka, Peter R. Horsfall, Steven Iaccheo, Michael Merold, Schalk Steyn
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Patent number: 8090643Abstract: 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: GrantFiled: August 20, 2007Date of Patent: January 3, 2012Assignee: EBS Group LimitedInventors: Vladimir Neyman, Steven Iaccheo, Neena Jain, James Shu, Edward Howorka, Andrew Foray, Michael Merold
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Patent number: 8010440Abstract: An anonymous trading system allows parties to divide potential counterparties into tiers according to their perceived creditworthiness and the risk involved in trading with them. Price adjustments are applied to order prices for all tiers other than the first so that second and subsequent tier counterparties trade at less favorable prices. An offer is converted into a series of linked orders, one per tier, all at different prices. Tier identifiers attached to the orders are compared to ensure that the correct tier prices are displayed to counterparties.Type: GrantFiled: April 15, 2005Date of Patent: August 30, 2011Assignee: EBS Group LimitedInventor: Michael Merold
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Publication number: 20110047064Abstract: 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: ApplicationFiled: November 1, 2010Publication date: February 24, 2011Applicant: EBS GROUP LIMITEDInventors: Edward Howorka, Peter R. Horsfall, Steven Iaccheo, Michael Merold, Schalk Steyn
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Patent number: 7848349Abstract: 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: GrantFiled: September 8, 2006Date of Patent: December 7, 2010Assignee: EBS Group LimitedInventors: Edward Howorka, Peter R. Horsfall, Steven Iaccheo, Michael Merold, Schalk Steyn
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Publication number: 20080040256Abstract: 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: ApplicationFiled: August 20, 2007Publication date: February 14, 2008Inventors: Vladimir Neyman, Steven Iaccheo, Neena Jain, James Shu, Edward Howorka, Andrew Foray, Michael Merold
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Publication number: 20070124419Abstract: 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: ApplicationFiled: September 8, 2006Publication date: May 31, 2007Applicant: EBS Group LimitedInventors: Edward Howorka, Peter Horsfall, Steven Iaccheo, Michael Merold, Schalk Steyn
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Publication number: 20050240513Abstract: An anonymous trading system allows parties to divide potential counterparties into tiers according to their perceived creditworthiness and the risk involved in trading with them. Price adjustments are applied to order prices for all tiers other than the first so that second and subsequent tier counterparties trade at less favourable prices. An offer is converted into a series of linked orders, one per tier, all at different prices. Tier identifiers attached to the orders are compared to ensure that the correct tier prices are displayed to counterparties.Type: ApplicationFiled: April 15, 2005Publication date: October 27, 2005Inventor: Michael Merold