Patents by Inventor Michael Sweeting

Michael Sweeting 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: 20240338769
    Abstract: Various embodiments of exchanges are described. Methods and other embodiments are also described.
    Type: Application
    Filed: June 17, 2024
    Publication date: October 10, 2024
    Inventors: Howard W. Lutnick, Bijoy Paul, Michael Sweeting
  • 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
  • Publication number: 20240242280
    Abstract: A user interface for use with an electronic trading system includes a display that shows a bid price axis and an ask price axis, as well as corresponding sizes, and a visual indicator of the inside market. When the inside market changes in response to changing market conditions, the display of the inside market clearly shows a spatial movement of the inside market as well as the representative price(s) associated therewith, thereby rendering the two price axis dynamic axis. The user interface is easy to use, intuitive as well as customizable, and contains features that facilitate efficient electronic trading and shows trading activity pertaining to the user as well as the market in general.
    Type: Application
    Filed: March 27, 2024
    Publication date: July 18, 2024
    Inventors: Howard W. Lutnick, Joseph Noviello, Michael Sweeting, James P. Stedman, William P. Gill, Atul Bhatia, Daniel L. Eccleston, James L. Davies
  • 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
  • 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: 20240104658
    Abstract: Systems and methods may maintain the viability of a market order type in fluctuating markets. These systems and methods preferably provide the user with the ability to enter an order as a “conditional” market order. Such an order will preferably only be implemented as a market order under certain specific circumstances e.g., the market has met a predetermined stability threshold for a preferably predetermined amount of time.
    Type: Application
    Filed: December 11, 2023
    Publication date: March 28, 2024
    Inventors: Howard W. Lutnick, Michael Sweeting, Joseph Noviello
  • Publication number: 20240070783
    Abstract: Various embodiments of exchanges are described. Methods and other embodiments are also described.
    Type: Application
    Filed: November 1, 2023
    Publication date: February 29, 2024
    Inventors: Howard W. Lutnick, Bijoy Paul, MIchael Sweeting
  • Publication number: 20240070785
    Abstract: Systems and methods of trading items on an electronic trading system according to the invention are provided. The embodiments of the invention are based at least in part on a new order type. The new order type is a modification of a conventional good-until-bettered order type. A good-until-bettered bid/offer is received along with instructions that specify a good-until-bettered increment value and/or duration. The good-until-bettered order is maintained in the electronic trading system until a bid/offer that is better by the specified plurality of standard trading increments is received by the electronic trading system and/or remains in the system for the good-until-bettered duration.
    Type: Application
    Filed: November 7, 2023
    Publication date: February 29, 2024
    Inventors: Howard W. Lutnick, Kevin M. Foley, Joseph Noviello, Michael Sweeting
  • 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
  • Publication number: 20240037661
    Abstract: Systems and methods for providing trading using an eVWAP price in an illiquid market are provided. In an illiquid market there may be little or no actual trades. During a trading period, the eVWAP price is therefore determined from not only trades, but also unmatched bids and offers. The eVWAP price is determined when new information becomes available or at a specified time interval. The final eVWAP price is determined when the sampling period ends. Once the final eVWAP price is determined, the value of the final eVWAP price is published for use as a price to settle a contract.
    Type: Application
    Filed: October 6, 2023
    Publication date: February 1, 2024
    Inventors: Philipp T. Jokisch, 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
  • Publication number: 20230410199
    Abstract: An electronic trading system is described herein. More specifically, the electronic trading system may relate to the substantially simultaneous trading of cash instruments and their related futures contract for interest-rate related instruments. The electronic trading system may also be used to allow a user (such as a market maker or other suitable participant) to gauge his chance of success at completing both sides of a basis trade within a preferably pre-determined or pre-set interval, while knowing in advance the specific weighting algorithm that will be applied to the basis trade. The electronic trading system may also be used to allow a user to predetermine the exact weighting algorithm to be used on such a basis trade, and to adjust those preferences where necessary or desired.
    Type: Application
    Filed: September 1, 2023
    Publication date: December 21, 2023
    Inventors: Richard P. Goodman, Michael Sweeting
  • Patent number: 11847701
    Abstract: Systems and methods of trading items on an electronic trading system according to the invention are provided. The embodiments of the invention are based at least in part on a new order type. The new order type is a modification of a conventional good-until-bettered order type. A good-until-bettered bid/offer is received along with instructions that specify a good-until-bettered increment value and/or duration. The good-until-bettered order is maintained in the electronic trading system until a bid/offer that is better by the specified plurality of standard trading increments is received by the electronic trading system and/or remains in the system for the good-until-bettered duration.
    Type: Grant
    Filed: July 29, 2022
    Date of Patent: December 19, 2023
    Assignee: BGC PARTNERS, INC.
    Inventors: Howard W. Lutnick, Kevin M. Foley, Joseph Noviello, Michael Sweeting
  • Patent number: 11842396
    Abstract: Various embodiments of exchanges are described. Methods and other embodiments are also described.
    Type: Grant
    Filed: February 14, 2022
    Date of Patent: December 12, 2023
    Assignee: BGC PARTNERS, INC.
    Inventors: Howard W. Lutnick, Bijoy Paul, Michael Sweeting
  • 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: 20230334567
    Abstract: An electronic exchange platform configured to: receive respective list of approved Buyside participants for each of a plurality of marketmaking orders; receive a respective marketmaking order for a side of trades on the financial instrument from each of the plurality of Sellside participants; peg a price for the received marketmaking orders to a price relative to and multiple ticks behind a best price on the side in an order book; present market information to Buyside participants identifying marketmaking orders for which the Buyside participants are approved; receive a contra order from a Buyside participant that is approved to trade with a subset of the plurality of marketmaking orders, in which the contra order identifies preferred Sellside participants; distribute the contra order; and determine new best bid and offer in response to the distribution; and adjust remaining marketmaking offers to retain peg in response to determining new best bid or offer.
    Type: Application
    Filed: June 23, 2023
    Publication date: October 19, 2023
    Inventors: Howard W. Lutnick, Michael Sweeting, Shaun Lynn, Philip Norton, Rich Winter
  • Patent number: 11790446
    Abstract: An electronic trading system is described herein. More specifically, the electronic trading system may relate to the substantially simultaneous trading of cash instruments and their related futures contract for interest-rate related instruments. The electronic trading system may also be used to allow a user (such as a market maker or other suitable participant) to gauge his chance of success at completing both sides of a basis trade within a preferably pre-determined or pre-set interval, while knowing in advance the specific weighting algorithm that will be applied to the basis trade. The electronic trading system may also be used to allow a user to predetermine the exact weighting algorithm to be used on such a basis trade, and to adjust those preferences where necessary or desired.
    Type: Grant
    Filed: November 29, 2021
    Date of Patent: October 17, 2023
    Assignee: BGC PARTNERS, INC.
    Inventors: Richard P. Goodman, Michael Sweeting
  • 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
  • Patent number: 11727489
    Abstract: An electronic exchange platform configured to: receive respective list of approved Buyside participants for each of a plurality of marketmaking orders; receive a respective marketmaking order for a side of trades on the financial instrument from each of the plurality of Sellside participants; peg a price for the received marketmaking orders to a price relative to and multiple ticks behind a best price on the side in an order book; present market information to Buyside participants identifying marketmaking orders for which the Buyside participants are approved; receive a contra order from a Buyside participant that is approved to trade with a subset of the plurality of marketmaking orders, in which the contra order identifies preferred Sellside participants; distribute the contra order; and determine new best bid and offer in response to the distribution; and adjust remaining marketmaking offers to retain peg in response to determining new best bid or offer.
    Type: Grant
    Filed: July 29, 2022
    Date of Patent: August 15, 2023
    Assignee: BGC PARTNERS, INC.
    Inventors: Howard W. Lutnick, Michael Sweeting, Shaun Lynn, Philip Norton, Rich Winter