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: 20190332240
    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: Application
    Filed: May 24, 2019
    Publication date: October 31, 2019
    Inventors: Howard W. Lutnick, Joseph C. Noviello, Michael Sweeting, Lee M. Amaitis, James C. Johnson
  • Patent number: 10453130
    Abstract: An electronic exchange system includes a physical data bus directly communicatively coupling first and second physical processing elements of an electronic processor. The second element may receive indications of orders from remote devices not part of the system, add each order to a respective one of a queue of buy orders and a queue of sell orders for a financial instrument, and determine a match between orders of the respective queues. The first element may receive an indication of an occurrence of an event, determine that an adjustment to an order is conditioned on a criteria associated with the occurrence, determine that the criteria is satisfied, and transmit, through the physical data bus, to the second element, an indication to adjust the order that acts as an interrupt to processing of the second element to cause the second element to, in response to receiving the indication, adjust the order.
    Type: Grant
    Filed: March 18, 2009
    Date of Patent: October 22, 2019
    Assignee: BGC PARTNERS, INC.
    Inventors: Howard W. Lutnick, Bijoy Paul, Michael Sweeting
  • Publication number: 20190318429
    Abstract: Various embodiments of exchanges are described. Methods and other embodiments are also described.
    Type: Application
    Filed: June 27, 2019
    Publication date: October 17, 2019
    Inventors: Howard W. Lutnick, Bijoy Paul, Michael Sweeting
  • Patent number: 10387955
    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 contracts 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: July 11, 2017
    Date of Patent: August 20, 2019
    Assignee: BGC PARTNERS, INC.
    Inventors: Richard P. Goodman, Michael Sweeting
  • Patent number: 10380689
    Abstract: Various embodiments of exchanges are described. Methods and other embodiments are also described.
    Type: Grant
    Filed: March 6, 2009
    Date of Patent: August 13, 2019
    Assignee: BGC PARTNERS, INC.
    Inventors: Howard W. Lutnick, Bijoy Paul, Michael Sweeting
  • Publication number: 20190213680
    Abstract: According to one embodiment, a method of managing trading is provided. In a market for a particular type of instrument, 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 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 the outlying trading order. For example, if a trader subsequently submits another trading order that would trade with the outlying trading order, an 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: January 2, 2019
    Publication date: July 11, 2019
    Inventors: Joseph C. Noviello, Michael Sweeting, Howard W. Lutnick
  • Patent number: 10346908
    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 an only at best order type, whereby trades are preferably only executed at the best price the item is being bought or sold.
    Type: Grant
    Filed: June 25, 2012
    Date of Patent: July 9, 2019
    Assignee: BGC PARTNERS, INC.
    Inventors: Howard W. Lutnick, Kevin M. Foley, Joseph Noviello, Michael Sweeting
  • Patent number: 10331344
    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: January 5, 2015
    Date of Patent: June 25, 2019
    Assignee: BGC PARTNERS, INC.
    Inventors: Howard W. Lutnick, Joseph C. Noviello, Michael Sweeting, Lee M. Amaitis, James C. Johnson
  • Publication number: 20190188791
    Abstract: According to one embodiment, a method of managing trading is provided. A first offer for a particular instrument in a particular market is received from a first market maker at a first offer price. A first bid for the same particular instrument in the same particular market is received from a second market maker at a first bid price, the first bid price being higher than or equal to the first offer price. As a result of the first bid price being higher than or equal to the first offer price, the first offer price is automatically increased to a price higher than the first bid price such that a trade is not executed between the first offer and the first bid. In some embodiments, such method may be used to protect market makers from unwanted trades caused by inherent latency in the market makers' pricing engines and/or networks.
    Type: Application
    Filed: February 14, 2019
    Publication date: June 20, 2019
    Inventors: Nigel J. Renton, Michael Sweeting
  • Publication number: 20190172133
    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: January 25, 2019
    Publication date: June 6, 2019
    Inventors: Joseph C. Noviello, Michael Sweeting, Howard W. Lutnick
  • Publication number: 20190156420
    Abstract: Systems and methods for maintaining the viability of a market order type in fluctuating markets are provided. 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: January 23, 2019
    Publication date: May 23, 2019
    Inventors: Howard W. Lutnick, Michael Sweeting, Joseph Noviello
  • Patent number: 10229456
    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: Grant
    Filed: July 21, 2014
    Date of Patent: March 12, 2019
    Assignee: BGC PARTNERS, INC.
    Inventors: Joseph C. Noviello, Michael Sweeting, Howard W. Lutnick
  • Publication number: 20180268484
    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: May 18, 2018
    Publication date: September 20, 2018
    Inventors: Nigel J. Renton, Michael Sweeting
  • Patent number: 10002385
    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: Grant
    Filed: October 28, 2003
    Date of Patent: June 19, 2018
    Assignee: BGC PARTNERS, INC.
    Inventors: Nigel J. Renton, Michael Sweeting
  • Publication number: 20180137571
    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: January 12, 2018
    Publication date: May 17, 2018
    Inventors: Howard W. Lutnick, Kevin M. Foley, Joseph Noviello, Michael Sweeting
  • Patent number: 9870590
    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: Grant
    Filed: July 29, 2005
    Date of Patent: January 16, 2018
    Assignee: BGC PARTNERS, INC.
    Inventors: Howard W. Lutnick, Kevin M. Foley, Joseph Noviello, Michael Sweeting
  • Publication number: 20170372423
    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 contracts 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: July 11, 2017
    Publication date: December 28, 2017
    Inventors: Richard P. Goodman, Michael Sweeting
  • Publication number: 20170358030
    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 14, 2017
    Publication date: December 14, 2017
    Inventors: Howard W. Lutnick, Michael Sweeting, Shaun Lynn, Philip Norton, Rich Winter
  • Publication number: 20160012529
    Abstract: A computer trading system has price improvement features.
    Type: Application
    Filed: February 6, 2012
    Publication date: January 14, 2016
    Applicant: BGC PARTNERS, INC.
    Inventors: Howard W. LUTNICK, Michael SWEETING, Jim JOHNSON
  • Patent number: RE47060
    Abstract: Traders in an electronic trading system are provided an opportunity to improve prices for an item trading in an active market are provided. After a trader hits a bid or lifts an offer, a market becomes active. When the market is active, traders can submit orders that improve on the price of the current market price of an item. Whenever a price improvement order is currently available for use in a transaction order, a price improvement indicator is displayed to indicate to other traders that price improvement is occurring. When a price improvement order is used to fill a transaction order, a portion of the difference between the market price and the price improvement price may be divided between the trader associated with the price improvement order, the trader associated with the transaction order, and the system host.
    Type: Grant
    Filed: February 7, 2014
    Date of Patent: September 25, 2018
    Assignee: BGC PARTNERS, INC.
    Inventor: Michael Sweeting