BGC Partners has filed a patent for an apparatus that processes trading orders. The apparatus uses a memory and a processor to fill displayed quantities of orders with corresponding portions of counterorders. It also allocates additional portions of the counterorder based on a ratio of displayed quantities. GlobalData’s report on BGC Partners 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 BGC Partners, retail trading platforms was a key innovation area identified from patents. BGC Partners's grant share as of September 2023 was 49%. Grant share is based on the ratio of number of grants to total number of patents.
An apparatus for processing trading orders
A recently filed patent (Publication Number: US20230281706A1) describes an apparatus and method for managing trading orders in a communication network. The apparatus includes at least one processor that controls various functions related to receiving and displaying trading orders, as well as filling those orders with counterorders.
The apparatus receives orders from multiple trader computers associated with a product. These orders consist of a displayed quantity and a reserved quantity, with the reserved quantity available for trading but not displayed to traders. The apparatus displays the displayed quantity of the orders on the trader computers' displays. When a new order is received, the apparatus refreshes the display to include the new order's displayed quantity.
Additionally, the apparatus receives a counterorder from a fourth trader computer, which includes a quantity. The apparatus fills at least the displayed quantity of the initial orders with a portion of the counterorder. It then determines the size of an additional portion of the counterorder based on a ratio that considers the displayed quantities of the initial orders relative to the sum of all displayed quantities.
The apparatus can also determine the size of a further portion of the counterorder based on a second ratio, which considers the displayed quantity of a specific order relative to the sum of all displayed quantities. This further portion can be allocated to a specific order.
The apparatus can handle different types of orders, such as buy orders and sell orders, and can fill the orders in the sequence they were received. It can also allocate portions of the counterorder to specific orders based on the order in which they were received.
The patent also mentions the use of financial instruments as the product associated with the orders.
In summary, the patent describes an apparatus and method for managing trading orders in a communication network. It allows for the display and filling of orders, as well as the determination of additional portions of counterorders based on specific ratios. The apparatus can handle different types of orders and allocate portions of counterorders to specific orders.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
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.
