Patents by Inventor Paul J. Callaway
Paul J. Callaway 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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Patent number: 11949600Abstract: Networks, systems and methods for dynamically filtering market data are disclosed. Streams of market data may be buffered or stored in a queue when inbound rates exceed distribution or publication limitations. Inclusive messages in the queue may be removed, replaced or aggregated, reducing the number of messages to be published when distribution limitations are no longer exceeded.Type: GrantFiled: January 24, 2022Date of Patent: April 2, 2024Assignee: Chicago Mercantile Exchange Inc.Inventors: Paul J. Callaway, Dennis M. Genetski, Adrien Gracia, James Krause, Vijay Menon
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Publication number: 20230072217Abstract: An electronic trading system utilizes a Match Engine that receives orders, stores them internally, calculates tradable combinations and advertises the availability of real and implied orders in the form of market data. New tradable items defined as combinations of other tradable items may be included in the calculation of tradable combinations. A technique is disclosed for suppression of the calculation and/or subsequent listing of an implied order when the order is either undesired or unnecessary in the market therefore.Type: ApplicationFiled: November 14, 2022Publication date: March 9, 2023Applicant: Chicago Mercantile Exchange Inc.Inventors: Brian M. Wolf, John F. Curran, James W. Farrell, Paul J. Callaway, Barry Galster, Andrew Milne, Giuseppe Scimeca, Pearce Peck-Walden, James Wilcox
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Patent number: 11526939Abstract: An electronic trading system utilizes a Match Engine that receives orders, stores them internally, calculates tradable combinations and advertises the availability of real and implied orders in the form of market data. New tradable items defined as combinations of other tradable items may be included in the calculation of tradable combinations. A technique is disclosed for suppression of the calculation and/or subsequent listing of an implied order when the order is either undesired or unnecessary in the market therefore.Type: GrantFiled: January 7, 2019Date of Patent: December 13, 2022Assignee: Chicago Mercantile Exchange Inc.Inventors: Brian M. Wolf, John F. Curran, James W. Farrell, Paul J. Callaway, Barry Galster, Andrew Milne, Giuseppe Scimeca, Pearce Peck-Walden, James Wilcox
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Publication number: 20220253936Abstract: The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.Type: ApplicationFiled: April 19, 2022Publication date: August 11, 2022Applicant: Chicago Mercantile Exchange Inc.Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, William J. Albert, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
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Patent number: 11348173Abstract: The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.Type: GrantFiled: March 13, 2020Date of Patent: May 31, 2022Assignee: Chicago Mercantile Exchange Inc.Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, William J. Albert, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
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Publication number: 20220150178Abstract: Networks, systems and methods for dynamically filtering market data are disclosed. Streams of market data may be buffered or stored in a queue when inbound rates exceed distribution or publication limitations. Inclusive messages in the queue may be removed, replaced or aggregated, reducing the number of messages to be published when distribution limitations are no longer exceeded.Type: ApplicationFiled: January 24, 2022Publication date: May 12, 2022Applicant: Chicago Mercantile Exchange Inc.Inventors: Paul J. Callaway, Dennis M. Genetski, Adrien Gracia, James Krause, Vijay Menon
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Patent number: 11329929Abstract: Networks, systems and methods for dynamically filtering market data are disclosed. Streams of market data may be buffered or stored in a queue when inbound rates exceed distribution or publication limitations. Inclusive messages in the queue may be removed, replaced or aggregated, reducing the number of messages to be published when distribution limitations are no longer exceeded.Type: GrantFiled: October 26, 2020Date of Patent: May 10, 2022Assignee: Chicago Mercantile Exchange Inc.Inventors: Paul J. Callaway, Dennis M. Genetski, Adrien Gracia, James Krause, Vijay Menon
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Publication number: 20210058332Abstract: Networks, systems and methods for dynamically filtering market data are disclosed. Streams of market data may be buffered or stored in a queue when inbound rates exceed distribution or publication limitations. Inclusive messages in the queue may be removed, replaced or aggregated, reducing the number of messages to be published when distribution limitations are no longer exceeded.Type: ApplicationFiled: October 26, 2020Publication date: February 25, 2021Applicant: Chicago Mercantile Exchange Inc.Inventors: Paul J. Callaway, Dennis M. Genetski, Adrien Gracia, James Krause, Vijay Menon
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Patent number: 10855613Abstract: Networks, systems and methods for dynamically filtering market data are disclosed. Streams of market data may be buffered or stored in a queue when inbound rates exceed distribution or publication limitations. Inclusive messages in the queue may be removed, replaced or aggregated, reducing the number of messages to be published when distribution limitations are no longer exceeded.Type: GrantFiled: March 24, 2017Date of Patent: December 1, 2020Assignee: Chicago Mercantile Exchange Inc.Inventors: Paul J. Callaway, Dennis M. Genetski, Adrien Gracia, James Krause, Vijay Menon
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Patent number: 10719874Abstract: The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.Type: GrantFiled: April 21, 2010Date of Patent: July 21, 2020Assignee: Chicago Mercantile Exchange Inc.Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, William J. Albert, Lori Flemm, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
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Publication number: 20200219192Abstract: The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.Type: ApplicationFiled: March 13, 2020Publication date: July 9, 2020Applicant: Chicago Mercantile Exchange Inc.Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, William J. Albert, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
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Patent number: 10628883Abstract: The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.Type: GrantFiled: November 17, 2006Date of Patent: April 21, 2020Assignee: Chicago Mercantile Exchange Inc.Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, William J. Albert, Lori Flemm, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
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Publication number: 20190385222Abstract: An electronic trading system utilizes a Match Engine that receives orders, stores them internally, calculates tradable combinations and advertises the availability of real and implied orders in the form of market data. New tradable items defined as combinations of other tradable items may be included in the calculation of tradable combinations. The disclosed embodiments relate to detection of market conditions where identification of implied opportunities may, for example, subvert real orders resulting in undesirable effects. Under circumstances where such undesirable effects are likely to occur, identification of implied opportunities may be delayed thereby allowing market forces to attempt to resolve the aberrant market conditions and avoid the undesirable effects.Type: ApplicationFiled: August 30, 2019Publication date: December 19, 2019Applicant: Chicago Mercantile Exchange Inc.Inventors: Jose Antonio Acuna-Rohter, Paul J. Callaway, Pearce Peck-Walden, Barry Galster
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Publication number: 20190139140Abstract: An electronic trading system utilizes a Match Engine that receives orders, stores them internally, calculates tradable combinations and advertises the availability of real and implied orders in the form of market data. New tradable items defined as combinations of other tradable items may be included in the calculation of tradable combinations. A technique is disclosed for suppression of the calculation and/or subsequent listing of an implied order when the order is either undesired or unnecessary in the market therefore.Type: ApplicationFiled: January 7, 2019Publication date: May 9, 2019Inventors: Brian M. Wolf, John F. Curran, James W. Farrell, Paul J. Callaway, Barry Galster, Andrew Milne, Giuseppe Scimeca, Pearce Peck-Walden, James Wilcox
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Patent number: 10204377Abstract: An electronic trading system utilizes a Match Engine that receives orders, stores them internally, calculates tradable combinations and advertises the availability of real and implied orders in the form of market data. New tradable items defined as combinations of other tradable items may be included in the calculation of tradable combinations. A technique is disclosed for suppression of the calculation and/or subsequent listing of an implied order when the order is either undesired or unnecessary in the market therefore.Type: GrantFiled: June 27, 2012Date of Patent: February 12, 2019Assignee: Chicago Mercantile Exchange Inc.Inventors: Brian M. Wolf, John F. Curran, James W. Farrell, Paul J. Callaway, Barry L. Galster, Andrew Milne, Giuseppe Scimeca, Pearce Peck-Walden, James Wilcox
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Publication number: 20170195244Abstract: Networks, systems and methods for dynamically filtering market data are disclosed. Streams of market data may be buffered or stored in a queue when inbound rates exceed distribution or publication limitations. Inclusive messages in the queue may be removed, replaced or aggregated, reducing the number of messages to be published when distribution limitations are no longer exceeded.Type: ApplicationFiled: March 24, 2017Publication date: July 6, 2017Inventors: Paul J. Callaway, Dennis M. Genetski, Adrien Gracia, James Krause, Vijay Menon
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Patent number: 9639895Abstract: Networks, systems and methods for dynamically filtering market data are disclosed. Streams of market data may be buffered or stored in a queue when inbound rates exceed distribution or publication limitations. Inclusive messages in the queue may be removed, replaced or aggregated, reducing the number of messages to be published when distribution limitations are no longer exceeded.Type: GrantFiled: August 30, 2007Date of Patent: May 2, 2017Assignee: Chicago Mercantile Exchange, Inc.Inventors: Paul J Callaway, Dennis M Genetski, Adrien Gracia, James Krause, Vijay Menon
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Publication number: 20160162990Abstract: Systems and methods are provided for determining enhanced price-level market data and/or enhanced order-level market data. To determine the enhanced price-level market data and/or enhanced order-level market data an order monitoring device may be configured to monitor one or more orders placed at an exchange, analyze information corresponding to the one or more monitored orders to determine whether an order, or partial order, was canceled without being matched, and generate the enhanced price-level market data and/or enhanced order-level market data based on the information associated with the canceled orders.Type: ApplicationFiled: December 4, 2015Publication date: June 9, 2016Inventors: Bernard Hosman, Paul J. Callaway, Pearce Peck-Walden
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Patent number: 9336087Abstract: Fault tolerant operation is disclosed for a primary match server of a financial exchange using an active copy-cat instance, a.k.a. backup match server, that mirrors operations in the primary match server, but only after those operations have successfully completed in the primary match server. Fault tolerant logic monitors inputs and outputs of the primary match server and gates those inputs to the backup match server once a given input has been processed. The outputs of the backup match server are then compared with the outputs of the primary match server to ensure correct operation. The disclosed embodiments further relate to fault tolerant failover mechanism allowing the backup match server to take over for the primary match server in a fault situation wherein the primary and backup match servers are loosely coupled, i.e. they need not be aware that they are operating in a fault tolerant environment.Type: GrantFiled: January 21, 2014Date of Patent: May 10, 2016Assignee: Chicago Mercantile Exchange Inc.Inventors: Paul J. Callaway, Robert C. Hagemann, III, Zuber Shethwala, Troy Reece, Paul A. Bauerschmidt, Enrico Ferrari, Barry L. Galster
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Patent number: 9244771Abstract: Fault tolerant operation is disclosed for a primary instance, such as a process, thread, application, processor, etc., using an active copy-cat instance, a.k.a. backup instance, that mirrors operations in the primary instance, but only after those operations have successfully completed in the primary instance. Fault tolerant logic monitors inputs and outputs of the primary instance and gates those inputs to the backup instance once a given input has been processed. The outputs of the backup instance are then compared with the outputs of the primary instance to ensure correct operation. The disclosed embodiments further relate to fault tolerant failover mechanism allowing the backup instance to take over for the primary instance in a fault situation wherein the primary and backup instances are loosely coupled, i.e. they need not be aware that they are operating in a fault tolerant environment.Type: GrantFiled: May 16, 2013Date of Patent: January 26, 2016Assignee: Chicago Mercantile Exchange Inc.Inventors: Paul J. Callaway, Robert C. Hagemann, III, Zuber Shethwala, Troy Reece, Paul Andrew Bauerschmidt, Enrico Ferrari