IG Group has been granted a patent for a redundant and load sharing system that includes an intelligent probabilistic volatility server, blockchain technology, and a hardware-based random number generator. This system allows for electronic trading of futures contracts with unique features tailored to specific clients. GlobalData’s report on IG Group gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on IG Group, was a key innovation area identified from patents. IG Group's grant share as of February 2024 was 54%. Grant share is based on the ratio of number of grants to total number of patents.
Futures trading system with load sharing and blockchain technology
A recently granted patent (Publication Number: US11854079B2) outlines a redundant and load-sharing system that involves two separate systems operating on a high-speed secure local area network. The system incorporates an intelligent probabilistic volatility server with load balancing and machine dynamic learning, utilizing blockchain technology to record transactions. Each system includes a contract trading system accessible by traders, with encrypted passwords and multiple trading accounts. The system allows for the establishment of contracts for future events, such as rainfall, snowfall, catastrophic events like earthquakes, or even elections like a Presidential election. The system also includes mechanisms for selling contracts, settling them against trader accounts, assessing transaction fees, and ensuring compliance with the Commodity Exchange Act.
Moreover, the system features a hardware-based random number generator to prioritize orders from geographically dispersed traders in real-time. These orders are directed to a validator, which freezes assets corresponding to the order and then to a switch, which further directs the order to an order matcher. The order matcher processes orders based on a price-time priority algorithm, matching orders against existing contra orders in the order book. If the price of the order is better or equal to the contra order, it is matched accordingly. Any remaining quantity after matching is placed in the order book based on price and time priority. The system is designed to handle various future events, including exchange rates, commodity prices, or market indices, providing a comprehensive and efficient trading platform for traders.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
