Patents by Inventor Tomas Bok
Tomas Bok 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: 8706608Abstract: A computer-implemented system and method for executing trades of financial securities according to a combination passive/aggressive trading strategy that reliably executes trades of lists of securities or blocks of a single security within a desired time frame while taking advantage of dynamic market movement to realize price improvement for the trade within the desired time frame. A passive trading agent executes trades at advantageous prices by floating portions of the order at the bid or ask to maximize exposure to the inside market and attract market orders. An aggressive agent opportunistically takes liquidity as it arises, setting discretionary prices in accordance with historical trading data of the specified security.Type: GrantFiled: January 30, 2012Date of Patent: April 22, 2014Assignee: ITG Software Solutions, Inc.Inventors: Tomas Bok, Jose E. Gutierrez, Sam Shteingart
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Patent number: 8306900Abstract: An auto-trading strategy for executing an order to buy or sell a specified quantity of a certain item. The strategy utilizes urgency scores rather than time bins. In one embodiment, an urgency score is determined at a certain point in time. The urgency score is a function of a trading target associated with the point in time and the actual number of items that have been traded as of the certain point in time.Type: GrantFiled: June 10, 2003Date of Patent: November 6, 2012Assignee: ITG Software Solutions, Inc.Inventors: Tomas Bok, David Cushing
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Publication number: 20120191589Abstract: A computer-implemented system and method for executing trades of financial securities according to a combination passive/aggressive trading strategy that reliably executes trades of lists of securities or blocks of a single security within a desired time frame while taking advantage of dynamic market movement to realize price improvement for the trade within the desired time frame. A passive trading agent executes trades at advantageous prices by floating portions of the order at the bid or ask to maximize exposure to the inside market and attract market orders. An aggressive agent opportunistically takes liquidity as it arises, setting discretionary prices in accordance with historical trading data of the specified security.Type: ApplicationFiled: January 30, 2012Publication date: July 26, 2012Applicant: ITG SOFTWARE SOLUTIONS, INC.Inventors: Tomas Bok, Jose E. Gutierrez, Sam Shteingart
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Patent number: 8108295Abstract: A computer-implemented system and method for executing trades of financial securities according to a combination passive/aggressive trading strategy that reliably executes trades of lists of securities or blocks of a single security within a desired time frame while taking advantage of dynamic market movement to realize price improvement for the trade within the desired time frame. A passive trading agent executes trades at advantageous prices by floating portions of the order at the bid or ask to maximize exposure to the inside market and attract market orders. An aggressive agent opportunistically takes liquidity as it arises, setting discretionary prices in accordance with historical trading data of the specified security.Type: GrantFiled: March 15, 2010Date of Patent: January 31, 2012Assignee: ITG Software Solutions, Inc.Inventors: Tomas Bok, Jose E. Gutierrez, Sam Shteingart
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Publication number: 20110047095Abstract: A preferred embodiment of the invention provides an interface providing a model-driven projection of various order execution statistics based on the exact strategy (channel, algorithm, and parameters) that is selected by a user. In at least one embodiment, the interface is linked to at least order execution system and comprises an order execution display. In one embodiment, the invention comprises a computer system operable to display a graphical user interface comprising (a) a pre-trade analysis component for displaying market intelligence information regarding one or more specified securities; and (b) a strategy selection component for displaying order execution strategies for selection by a user and that comprises (i) an order execution component for routing a selected order execution strategy to an order execution system; (ii) an interface for enabling a user to specify trading strategies and strategy requirements; and (iii) a display for displaying projected order completion information.Type: ApplicationFiled: August 30, 2010Publication date: February 24, 2011Inventors: David Charles Cushing, Tomas Bok, Amit Manwani, Mark Francis Mancini
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Publication number: 20100325032Abstract: In one aspect, the present invention permits users of trading algorithms to jointly achieve the objectives described above, namely: (a) permit access to trading algorithms of (arbitrary) complexity without requiring proprietary protocol extensions; (b) allow users to easily identify and store one or more sets of dynamic vs. static parameters (and related details, including user interface layout); and (c) allow any given pre-defined set of parameters to be easily invoked and used to submit orders. In another aspect, the invention comprises a computer system comprising: (a) an authoring tool operable to enable a user to design custom trading strategies and create interface definitions; and (b) a pre-processor operable to receive a custom strategy order message delivered via a standard protocol, load an definition for a corresponding custom strategy, enrich the order message based on the definition, and pass the enriched message to a trading strategy destination.Type: ApplicationFiled: August 6, 2010Publication date: December 23, 2010Inventors: Tomas BOK, David Charles Cushing, David Andrew Jack, Sanjoy Roy Choudhury
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Publication number: 20100299283Abstract: In one aspect, the present invention permits users of trading algorithms to jointly achieve the objectives described above, namely: (a) permit access to trading algorithms of (arbitrary) complexity without requiring proprietary protocol extensions; (b) allow users to easily identify and store one or more sets of dynamic vs. static parameters (and related details, including user interface layout); and (c) allow any given pre-defined set of parameters to be easily invoked and used to submit orders. In another aspect, the invention comprises a computer system comprising: (a) an authoring tool operable to enable a user to design custom trading strategies and create interface definitions; and (b) a pre-processor operable to receive a custom strategy order message delivered via a standard protocol, load an definition for a corresponding custom strategy, enrich the order message based on the definition, and pass the enriched message to a trading strategy destination.Type: ApplicationFiled: August 6, 2010Publication date: November 25, 2010Inventors: Tomas Bok, David Charles Cushing, David Andrew Jack, Sanjoy Roy Choudhury
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Patent number: 7818246Abstract: A preferred embodiment of the invention provides an interface providing a model-driven projection of various order execution statistics based on the exact strategy (channel, algorithm, and parameters) that is selected by a user. In at least one embodiment, the interface is linked to at least order execution system and comprises an order execution display. In one embodiment, the invention comprises a computer system operable to display a graphical user interface comprising (a) a pre-trade analysis component for displaying market intelligence information regarding one or more specified securities; and (b) a strategy selection component for displaying order execution strategies for selection by a user and that comprises (i) an order execution component for routing a selected order execution strategy to an order execution system; (ii) an interface for enabling a user to specify trading strategies and strategy requirements; and (iii) a display for displaying projected order completion information.Type: GrantFiled: April 5, 2006Date of Patent: October 19, 2010Assignee: Barclays Capital Inc.Inventors: David Charles Cushing, Tomas Bok, Amit Manwani, Mark Francis Mancini
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Publication number: 20100174637Abstract: A computer-implemented system and method for executing trades of financial securities according to a combination passive/aggressive trading strategy that reliably executes trades of lists of securities or blocks of a single security within a desired time frame while taking advantage of dynamic market movement to realize price improvement for the trade within the desired time frame. A passive trading agent executes trades at advantageous prices by floating portions of the order at the bid or ask to maximize exposure to the inside market and attract market orders. An aggressive agent opportunistically takes liquidity as it arises, setting discretionary prices in accordance with historical trading data of the specified security.Type: ApplicationFiled: March 15, 2010Publication date: July 8, 2010Applicant: ITG SOFTWARE SOLUTIONS, INC.Inventors: Tomas BOK, Jose E. Gutierrez, Sam Shteingart
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Patent number: 7680722Abstract: A computer-implemented system and method for executing trades of financial securities according to a combination passive/aggressive trading strategy that reliably executes trades of lists of securities or blocks of a single security within a desired time frame while taking advantage of dynamic market movement to realize price improvement for the trade within the desired time frame. A passive trading agent executes trades at advantageous prices by floating portions of the order at the bid or ask to maximize exposure to the inside market and attract market orders. An aggressive agent opportunistically takes liquidity as it arises, setting discretionary prices in accordance with historical trading data of the specified security.Type: GrantFiled: March 3, 2003Date of Patent: March 16, 2010Assignee: ITG Software Solutions, Inc.Inventors: Tomas Bok, Jose Gutierrez, Sam Shteingart
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Publication number: 20070038550Abstract: In at one aspect, the invention comprises an interactive software toolkit for creating custom trading strategies. Traders are provided with the ability to easily construct hybrid strategies using automated trading and event building blocks: (a) trading algorithms (for example, so-called “percentage of volume” algorithms and algorithms designed to minimize the difference between average executed price and standardized benchmarks such as volume-weighted average price (“VWAP”)); (b) intelligent “sweeps” (automated trading actions designed to rapidly execute a specified number of shares); and (c) event triggers (time-, price-, spread-, depth-based, or based on other real-time market data or on current order status). Traders can create and store a set of custom strategies tailored to specific order types or trading styles.Type: ApplicationFiled: March 22, 2006Publication date: February 15, 2007Applicant: Lehman Brothers Inc.Inventors: Barthelemy Caille, Gregoire Schneider, David Cushing, Tomas Bok, Joe Loftus, Mike Eckert, Joe Corcoran, Art Ayzerov, Robert Saffer
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Publication number: 20070011081Abstract: In one aspect, the present invention permits users of trading algorithms to jointly achieve the objectives described above, namely: (a) permit access to trading algorithms of (arbitrary) complexity without requiring proprietary protocol extensions; (b) allow users to easily identify and store one or more sets of dynamic vs. static parameters (and related details, including user interface layout); and (c) allow any given pre-defined set of parameters to be easily invoked and used to submit orders. In another aspect, the invention comprises a computer system comprising: (a) an authoring tool operable to enable a user to design custom trading strategies and create interface definitions; and (b) a pre-processor operable to receive a custom strategy order message delivered via a standard protocol, load an definition for a corresponding custom strategy, enrich the order message based on the definition, and pass the enriched message to a trading strategy destination.Type: ApplicationFiled: July 11, 2006Publication date: January 11, 2007Applicant: Lehman Brothers Inc.Inventors: Tomas Bok, David Cushing, David Jack, Sanjoy Choudhury
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Publication number: 20060259394Abstract: A preferred embodiment of the invention provides an interface providing a model-driven projection of various order execution statistics based on the exact strategy (channel, algorithm, and parameters) that is selected by a user. In at least one embodiment, the interface is linked to at least order execution system and comprises an order execution display. In one embodiment, the invention comprises a computer system operable to display a graphical user interface comprising (a) a pre-trade analysis component for displaying market intelligence information regarding one or more specified securities; and (b) a strategy selection component for displaying order execution strategies for selection by a user and that comprises (i) an order execution component for routing a selected order execution strategy to an order execution system; (ii) an interface for enabling a user to specify trading strategies and strategy requirements; and (iii) a display for displaying projected order completion information.Type: ApplicationFiled: April 5, 2006Publication date: November 16, 2006Applicant: Lehman Brothers Inc.Inventors: David Cushing, Tomas Bok, Amit Manwani, Mark Mancini
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Publication number: 20040254874Abstract: An auto-trading strategy for executing an order to buy or sell a specified quantity of a certain item. The strategy utilizes urgency scores rather than time bins. In one embodiment, an urgency score is determined at a certain point in time. The urgency score is a function of a trading target associated with the point in time and the actual number of items that have been traded as of the certain point in time.Type: ApplicationFiled: June 10, 2003Publication date: December 16, 2004Inventors: Tomas Bok, David Cushing
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Publication number: 20040177024Abstract: A computer-implemented system and method for executing trades of financial securities according to a combination passive/aggressive trading strategy that reliably executes trades of lists of securities or blocks of a single security within a desired time frame while taking advantage of dynamic market movement to realize price improvement for the trade within the desired time frame. A passive trading agent executes trades at advantageous prices by floating portions of the order at the bid or ask to maximize exposure to the inside market and attract market orders. An aggressive agent opportunistically takes liquidity as it arises, setting discretionary prices in accordance with historical trading data of the specified security.Type: ApplicationFiled: March 3, 2003Publication date: September 9, 2004Inventors: Tomas Bok, Jose E. Gutierrez, Sam Shteingart