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).

  • Patent number: 11704017
    Abstract: The present invention relates to systems and methods for providing customized keyboards for receiving user inputs, and view regions for displaying information for users in useful arrangements. Such keyboards include keys that are pre-programmed to reflect the issues present in each trading pane of the view regions. Using such keys, a user may direct the trading application to quickly and efficiently switch between multiple issues, and place, manipulate or cancel orders on them. The keyboard may also be designed such that multiple keys may be disabled, replaced or mapped to perform different functions.
    Type: Grant
    Filed: May 24, 2021
    Date of Patent: July 18, 2023
    Assignee: BGC PARTNERS, INC.
    Inventors: Howard W. Lutnick, Joseph C. Noviello, Michael Sweeting, Lee M. Amaitis, James C. Johnson
  • Publication number: 20230214924
    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: February 3, 2023
    Publication date: July 6, 2023
    Inventors: Howard W. Lutnick, Michael Sweeting, Joseph C. Noviello
  • Publication number: 20230196462
    Abstract: The invention relates to systems and methods that provide a user interface for use with an electronic trading system. The interface displays a bid price axis and an ask price axis, as well as corresponding sizes, and an indication of the inside market. When the inside market changes in response to changing market conditions, the indication of the inside market changes locations before being restored to its original location by shifting the bid and ask prices in a direction parallel to the bid or ask price axis. The user may enter trade commands at different price levels using an input device. In order to help prevent such trade commands from being entered at erroneous price levels, the system locks a pointer associated with the input device to a price the user points to during the shifting process, unless the pointer is moved away from that price.
    Type: Application
    Filed: February 15, 2023
    Publication date: June 22, 2023
    Inventors: Howard W. Lutnick, Kevin M. Foley, Joseph Noviello, Michael Sweeting
  • Publication number: 20230169590
    Abstract: An electronic trading system including various rules is described herein. Many of the rules relate to implementing periods of exclusive priority in trading. For example, in one of the rules, an exclusive period of trading may be controlled by an aggressor and a designated passive participant. The aggressor may have exclusive rights on his side of the trade at a particular price point for a particular time. The aggressor may elect to change the price point at which he controls the trade to a new price point which is more favorable to him. Thereafter, another participant may assume the exclusivity of the trade by entering the trade on the same side of the aggressor at the old price point. In so doing, the other participant also preferably truncates the aggressor's exclusivity at the new price point.
    Type: Application
    Filed: January 13, 2023
    Publication date: June 1, 2023
    Inventors: Howard W. Lutnick, Michael Sweeting
  • Publication number: 20230169589
    Abstract: According to one embodiment, a method of managing messages in a trading network is provided. A set of user relationships between a first user and one or more second users authorized to act on behalf of the first user is stored. A trading message regarding a trading order submitted on behalf of the first user is received from a trading system. The trading message is communicated to the first user. Each of the second users is identifying from the set of user relationships. For each of the identified second users, a carrier message is generated that includes the trading message and routing information associated with that second user. For each of the identified second users, the respective carrier message is communicated toward a user application associated with that second user based at least on the routing information included in the respective carrier message.
    Type: Application
    Filed: November 11, 2022
    Publication date: June 1, 2023
    Inventors: Alastair J.D. Beadle, Michael Sweeting
  • Publication number: 20230144731
    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: December 1, 2022
    Publication date: May 11, 2023
    Inventors: Howard W. Lutnick, Michael Sweeting, Joseph C. Noviello
  • Publication number: 20230126128
    Abstract: Various embodiments of exchanges are described. Methods and other embodiments are also described.
    Type: Application
    Filed: December 21, 2022
    Publication date: April 27, 2023
    Inventors: Howard W. Lutnick, Bijoy Paul, Michael Sweeting
  • Publication number: 20230015024
    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: September 28, 2022
    Publication date: January 19, 2023
    Inventors: Howard W. Lutnick, Joseph C. Noviello, Michael Sweeting
  • Patent number: 11556987
    Abstract: An electronic trading system including various rules is described herein. Many of the rules relate to implementing periods of exclusive priority in trading. For example, in one of the rules, an exclusive period of trading may be controlled by an aggressor and a designated passive participant. The aggressor may have exclusive rights on his side of the trade at a particular price point for a particular time. The aggressor may elect to change the price point at which he controls the trade to a new price point which is more favorable to him. Thereafter, another participant may assume the exclusivity of the trade by entering the trade on the same side of the aggressor at the old price point. In so doing, the other participant also preferably truncates the aggressor's exclusivity at the new price point.
    Type: Grant
    Filed: March 1, 2021
    Date of Patent: January 17, 2023
    Assignee: BGC PARTNERS, INC.
    Inventors: Howard W. Lutnick, Michael Sweeting
  • Patent number: 11544790
    Abstract: Various embodiments of exchanges are described. Methods and other embodiments are also described.
    Type: Grant
    Filed: June 27, 2019
    Date of Patent: January 3, 2023
    Assignee: BGC PARTNERS, INC.
    Inventors: Howard W. Lutnick, Bijoy Paul, Michael Sweeting
  • Publication number: 20220391979
    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: July 28, 2022
    Publication date: December 8, 2022
    Inventors: Philipp T. Jokisch, Michael Sweeting
  • Publication number: 20220374987
    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: August 1, 2022
    Publication date: November 24, 2022
    Inventors: Howard W. Lutnick, Michael Sweeting, Joseph Noviello
  • Publication number: 20220366498
    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: July 29, 2022
    Publication date: November 17, 2022
    Inventors: Howard W. Lutnick, Kevin M. Foley, Joseph Noviello, Michael Sweeting
  • Publication number: 20220366497
    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: July 29, 2022
    Publication date: November 17, 2022
    Inventors: Howard W. Lutnick, Michael Sweeting, Shaun Lynn, Philip Norton, Rich Winter
  • Publication number: 20220358591
    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: July 25, 2022
    Publication date: November 10, 2022
    Inventors: Howard W. Lutnick, Kevin M. Foley, Joseph C. Noviello, Lon Steger, Matthew Claus, Michael Sweeting
  • Publication number: 20220358593
    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: July 26, 2022
    Publication date: November 10, 2022
    Inventors: Howard W. Lutnick, Joseph Noviello, Michael Sweeting, James P. Stedman, William P. Gill, Atul Bhatia, Daniel L. Eccleston, James L. Davies
  • Publication number: 20220327622
    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: June 29, 2022
    Publication date: October 13, 2022
    Inventors: Howard W. Lutnick, Joseph C. Noviello, Michael Sweeting, Bijoy Paul
  • Publication number: 20220301058
    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 6, 2022
    Publication date: September 22, 2022
    Inventors: Joseph C. Noviello, Michael Sweeting, Howard W. Lutnick
  • Publication number: 20220261911
    Abstract: The invention relates to systems and methods that provide a user interface for use with an electronic trading system. The interface displays a bid price axis and an ask price axis, as well as corresponding sizes, and an indication of the inside market. When the inside market changes in response to changing market conditions, the indication of the inside market changes locations before being restored to its original location by shifting the bid and ask prices in a direction parallel to the bid or ask price axis. The user may enter trade commands at different price levels using an input device. In order to help prevent such trade commands from being entered at erroneous price levels, the system locks a pointer associated with the input device to a price the user points to during the shifting process, unless the pointer is moved away from that price.
    Type: Application
    Filed: May 6, 2022
    Publication date: August 18, 2022
    Inventors: Howard W. Lutnick, Kevin M. Foley, Joseph Noviello, Michael Sweeting
  • Publication number: 20220253938
    Abstract: According to one embodiment, a method of managing trading is provided. A first bid for a first instrument is received from a first market maker at a first bid price. A first offer for the first instrument is received from a second market maker at a first offer price, the first offer price being lower than the first bid price. As a result of the first offer price being lower than the first bid price, the first bid price is automatically decreased to match the first offer price, and a first timer having a predetermined duration is started. If the first timer expires and both the first bid and the first offer exist at the first offer price when the first timer expires, a trade between the first bid and the first offer is automatically executed.
    Type: Application
    Filed: April 28, 2022
    Publication date: August 11, 2022
    Inventors: Nigel J. Renton, Michael Sweeting