Patents by Inventor Sagy Pundak Mintz
Sagy Pundak Mintz 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: 11972486Abstract: An electronic trading method is provided. The method includes receiving a trading strategy order having a parent trading strategy including multiple quoting legs; splitting the trading strategy order into multiple child orders; and submitting each of the multiple child orders to exchange systems adapted to fill the quoting legs in the child orders. Each child order includes a child trading strategy having a single quoting leg or a reduced number of quoting legs relative to the parent trading strategy. The child trading strategies are the same as the parent trading strategy except for the number of legs marked as quoting legs. The method may be performed by a trading strategy device disposed between a client device and multiple server side devices.Type: GrantFiled: March 22, 2023Date of Patent: April 30, 2024Assignee: Trading Technologies International, Inc.Inventors: Sagy Pundak Mintz, Michael J. Burns
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Publication number: 20240087023Abstract: System and method for aggressively trading a spread trading strategy in an electronic environment are provided herein. According to the example embodiments, a trader may configure the automated trading tool to trade as aggressively as possible by leaning on a price without an associated quantity. This allows a trader to possibly obtain a more profitable price as well as get filled faster. Traders submit an order for a spread and the automated trading tool calculates the quote order price based on a defined level of aggressiveness, the leaned on price, and the desired spread price. Based on the level of defined aggressiveness and the gap in the market, the automated trading tool may lean on a mildly, moderately, or extremely aggressive price.Type: ApplicationFiled: November 17, 2023Publication date: March 14, 2024Inventors: NICHOLAS G. KONTOS, SAGY PUNDAK MINTZ, ALEXANDER D. DEITZ
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Patent number: 11924098Abstract: A sticky order routing system may include multiple order routers in communication with an electronic exchange for communicating transaction messages. Each of the order routers communicates transaction messages between multiple associated trading sessions and the electronic exchange, where of the associated trading sessions is assigned to the order router in communication with the electronic exchange. Transaction message traffic between the order routers and the electronic exchange is monitored, such as randomly, based on round-robin assignment, and/or trading data. In response to transaction message traffic exceeding a threshold, the trading session may be assigned to a new order router.Type: GrantFiled: February 28, 2023Date of Patent: March 5, 2024Assignee: Trading Technologies International, Inc.Inventor: Sagy Pundak Mintz
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Publication number: 20240013300Abstract: The disclosed embodiments provide trading circles. An example method includes defining a group having a plurality of members, wherein one or more of the plurality of members interacts with an exchange that facilitates market transactions; detecting a first interaction of a first group member with the exchange; and communicating, in response to detecting the first interaction, data related to the first interaction to a second group member before the first group member receives confirmation of the first interaction from the exchange.Type: ApplicationFiled: September 21, 2023Publication date: January 11, 2024Inventors: Richard Lane, Thomas Jeffrey Weiss, Thurston Woo, Jason Shaffer, Brian J. Buck, Michael Unetich, Sagy Pundak Mintz
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Patent number: 11861705Abstract: System and method for aggressively trading a spread trading strategy in an electronic environment are provided herein. According to the example embodiments, a trader may configure the automated trading tool to trade as aggressively as possible by leaning on a price without an associated quantity. This allows a trader to possibly obtain a more profitable price as well as get filled faster. Traders submit an order for a spread and the automated trading tool calculates the quote order price based on a defined level of aggressiveness, the leaned on price, and the desired spread price. Based on the level of defined aggressiveness and the gap in the market, the automated trading tool may lean on a mildly, moderately, or extremely aggressive price.Type: GrantFiled: June 20, 2022Date of Patent: January 2, 2024Assignee: TRADING TECHNOLOGIES INTERNATIONAL, INC.Inventors: Nicholas G Kontos, Sagy Pundak Mintz, Alexander D. Deitz
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Patent number: 11823268Abstract: The disclosed embodiments provide trading circles. An example method includes defining a group having a plurality of members, wherein one or more of the plurality of members interacts with an exchange that facilitates market transactions; detecting a first interaction of a first group member with the exchange; and communicating, in response to detecting the first interaction, data related to the first interaction to a second group member before the first group member receives confirmation of the first interaction from the exchange.Type: GrantFiled: April 8, 2022Date of Patent: November 21, 2023Assignee: Trading Technologies International, Inc.Inventors: Richard Lane, Thomas Jeffrey Weiss, Thurston Woo, Jason Shaffer, Brian J. Buck, Michael Unetich, Sagy Pundak Mintz
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Publication number: 20230342850Abstract: Various systems and methods are described herein for a risk check. The risk check bases a decision to allow a trading strategy to proceed on whether the order quantity for each leg of the trading strategy satisfies a certain condition. Particularly, when a trading strategy is initiated, the quantity for each of the orders to be submitted on behalf of the trading strategy, including the quantity of the initial order and any subsequent orders, is then compared to a corresponding risk value. If the order quantity for each of the orders is less than the corresponding risk value, then the trading strategy can proceed and the initial order can be sent on to the exchange. However, if the order quantity for any of the orders exceeds the risk value, then the initial order is not sent to the electronic exchange.Type: ApplicationFiled: June 28, 2023Publication date: October 26, 2023Inventor: Sagy Pundak Mintz
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Patent number: 11734759Abstract: Various systems and methods are described herein for a risk check. The risk check bases a decision to allow a trading strategy to proceed on whether the order quantity for each leg of the trading strategy satisfies a certain condition. Particularly, when a trading strategy is initiated, the quantity for each of the orders to be submitted on behalf of the trading strategy, including the quantity of the initial order and any subsequent orders, is then compared to a corresponding risk value. If the order quantity for each of the orders is less than the corresponding risk value, then the trading strategy can proceed and the initial order can be sent on to the exchange. However, if the order quantity for any of the orders exceeds the risk value, then the initial order is not sent to the electronic exchange.Type: GrantFiled: November 23, 2021Date of Patent: August 22, 2023Assignee: Trading Technologies International, Inc.Inventor: Sagy Pundak Mintz
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Publication number: 20230230165Abstract: An electronic trading method is provided. The method includes receiving a trading strategy order having a parent trading strategy including multiple quoting legs; splitting the trading strategy order into multiple child orders; and submitting each of the multiple child orders to exchange systems adapted to fill the quoting legs in the child orders. Each child order includes a child trading strategy having a single quoting leg or a reduced number of quoting legs relative to the parent trading strategy. The child trading strategies are the same as the parent trading strategy except for the number of legs marked as quoting legs. The method may be performed by a trading strategy device disposed between a client device and multiple server side devices.Type: ApplicationFiled: March 22, 2023Publication date: July 20, 2023Inventors: Sagy Pundak Mintz, Michael J. Burns
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Publication number: 20230208758Abstract: A sticky order routing system may include multiple order routers in communication with an electronic exchange for communicating transaction messages. Each of the order routers communicates transaction messages between multiple associated trading sessions and the electronic exchange, where of the associated trading sessions is assigned to the order router in communication with the electronic exchange. Transaction message traffic between the order routers and the electronic exchange is monitored, such as randomly, based on round-robin assignment, and/or trading data. In response to transaction message traffic exceeding a threshold, the trading session may be assigned to a new order router.Type: ApplicationFiled: February 28, 2023Publication date: June 29, 2023Inventor: Sagy Pundak Mintz
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Patent number: 11645718Abstract: An electronic trading method is provided. The method includes receiving a trading strategy order having a parent trading strategy including multiple quoting legs; splitting the trading strategy order into multiple child orders; and submitting each of the multiple child orders to exchange systems adapted to fill the quoting legs in the child orders. Each child order includes a child trading strategy having a single quoting leg or a reduced number of quoting legs relative to the parent trading strategy. The child trading strategies are the same as the parent trading strategy except for the number of legs marked as quoting legs. The method may be performed by a trading strategy device disposed between a client device and multiple server side devices.Type: GrantFiled: January 21, 2021Date of Patent: May 9, 2023Assignee: Trading Technologies International, Inc.Inventors: Sagy Pundak Mintz, Michael J. Burns
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Publication number: 20230110081Abstract: A system and methods are provided for using order descriptor identifiers in relation to orders being used in trading strategies. According to one example method, when a hedge order is submitted upon detecting a fill of another order, the hedge order includes one or more order descriptor identifiers conveying a purpose of the hedge order to a user. The order descriptor identifiers can be used to search for desired orders and perform more effective order management and post trade analysis.Type: ApplicationFiled: December 14, 2022Publication date: April 13, 2023Inventors: Alexander D. DEITZ, Sagy Pundak MINTZ
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Patent number: 11627078Abstract: A sticky order routing system may include multiple order routers in communication with an electronic exchange for communicating transaction messages. Each of the order routers communicates transaction messages between multiple associated trading sessions and the electronic exchange, where of the associated trading sessions is assigned to the order router in communication with the electronic exchange. Transaction message traffic between the order routers and the electronic exchange is monitored, such as randomly, based on round-robin assignment, and/or trading data. In response to transaction message traffic exceeding a threshold, the trading session may be assigned to a new order router.Type: GrantFiled: September 13, 2021Date of Patent: April 11, 2023Assignee: Trading Technologies International, Inc.Inventor: Sagy Pundak Mintz
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Patent number: 11556984Abstract: A system and methods are provided for using order descriptor identifiers in relation to orders being used in trading strategies. According to one example method, when a hedge order is submitted upon detecting a fill of another order, the hedge order includes one or more order descriptor identifiers conveying a purpose of the hedge order to a user. The order descriptor identifiers can be used to search for desired orders and perform more effective order management and post trade analysis.Type: GrantFiled: July 17, 2015Date of Patent: January 17, 2023Assignee: Trading Technologies International, Inc.Inventors: Alexander D. Deitz, Sagy Pundak Mintz
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Publication number: 20230005063Abstract: Embodiments for determining a traded item's value are described herein. An embodiment includes identifying conditions for use in computing a value of the tradable object. The embodiment further includes determining whether a condition is satisfied based on market data, for example, and if the condition is satisfied, then determining the value of the item based on a rule associated with the condition; and if the condition is not satisfied, then determining whether a subsequent condition is satisfied. If a subsequent condition is satisfied, then determining the value of the tradable object based on a rule associated with the subsequent condition. An embodiment further includes computing an open profit and loss value based on the item's value. Other embodiments are also disclosed.Type: ApplicationFiled: September 13, 2022Publication date: January 5, 2023Inventors: Sagy Pundak Mintz, Michael J. Burns
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Publication number: 20220335529Abstract: A system and method for defining and processing timed orders are defined. According to one embodiment, a trader may define a timed order by defining an intra-day time trigger or a time period when the timed order should be automatically modified, such as deleted or cancelled/replaced with a new order. In one embodiment, the intra-day time trigger or time period may be dynamically changed to a later time, for example, upon receiving a predetermined user input. Also, the time trigger and time period may be configured to dynamically vary based on any user configurable formula. Also, the timed order may be associated with one or more actions to be taken once the order is deleted, such as sending a new order, for example.Type: ApplicationFiled: July 6, 2022Publication date: October 20, 2022Inventors: Michael L. Fishbain, Sagy Pundak Mintz, Stephen J. Murphy
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Patent number: 11475518Abstract: Embodiments for determining a traded item's value are described herein. An embodiment includes identifying conditions for use in computing a value of the tradable object. The embodiment further includes determining whether a condition is satisfied based on market data, for example, and if the condition is satisfied, then determining the value of the item based on a rule associated with the condition; and if the condition is not satisfied, then determining whether a subsequent condition is satisfied. If a subsequent condition is satisfied, then determining the value of the tradable object based on a rule associated with the subsequent condition. An embodiment further includes computing an open profit and loss value based on the item's value. Other embodiments are also disclosed.Type: GrantFiled: February 9, 2010Date of Patent: October 18, 2022Assignee: TRADING TECHNOLOGIES INTERNATIONAL, INC.Inventors: Sagy Pundak Mintz, Michael J. Burns
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Publication number: 20220318908Abstract: System and method for aggressively trading a spread trading strategy in an electronic environment are provided herein. According to the example embodiments, a trader may configure the automated trading tool to trade as aggressively as possible by leaning on a price without an associated quantity. This allows a trader to possibly obtain a more profitable price as well as get filled faster. Traders submit an order for a spread and the automated trading tool calculates the quote order price based on a defined level of aggressiveness, the leaned on price, and the desired spread price. Based on the level of defined aggressiveness and the gap in the market, the automated trading tool may lean on a mildly, moderately, or extremely aggressive price.Type: ApplicationFiled: June 20, 2022Publication date: October 6, 2022Inventors: Nicholas G. Kontos, Sagy Pundak Mintz, Alexander D. Deitz
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Patent number: 11452097Abstract: Trading software may receive information from an exchange. The trading software may track historical bid and ask information for a tradeable object. The trading software may display historical market depth information for the tradeable object on a trading screen.Type: GrantFiled: September 28, 2018Date of Patent: September 20, 2022Assignee: TRADING TECHNOLOGIES INTERNATIONAL, INC.Inventors: Sagy Pundak Mintz, Ryan N. Andrews, Scott F. Singer, Jens-Uwe Schluetter
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Publication number: 20220261909Abstract: Certain embodiments of the present invention provide techniques for lean level support for a trading strategy. According to certain embodiments, the support for a price level under consideration as a lean level is determined based at least in part on quantity available at the price level. According to certain embodiments, the support for a price level under consideration as a lean level is determined based at least in part on quantity available at one or more other price levels. According to certain embodiments, the support for a price level under consideration as a lean level is determined based at least in part on the number of orders at one or more price levels. A lean level may then be determined based on the determined support. According to certain embodiments, a lean multiplier and/or a lean base are determined dynamically based on the determined support.Type: ApplicationFiled: May 4, 2022Publication date: August 18, 2022Inventors: Stephan Brianti, Sagy Pundak Mintz