CME Group. has been granted a patent for an anonymous computerized trading system that conducts auctions at specified times. The system allows participants to assign credit limits, facilitating order matching based on allocated credit and optimizing processing power while determining and executing benchmark prices for instruments. GlobalData’s report on CME 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 CME Group, was a key innovation area identified from patents. CME Group's grant share as of July 2024 was 49%. Grant share is based on the ratio of number of grants to total number of patents.
Anonymous computerized trading system with credit allocation
The patent US12073464B2 outlines a computer-implemented method and system for managing credit allocations among multiple trading entities in a financial trading environment. The method involves receiving an allocation of credit from a trading entity before a specified benchmark fixing time, followed by the receipt of orders that specify quantities but not prices for financial instruments. A processor matches these orders based on the allocated credit, distributing the matching process over time to optimize processing power. The system automatically determines the portion of credit used and releases any unused credit back to the trading entity for future use. Additionally, it sets a benchmark price for the instrument at or after the benchmark fixing time and executes the matched orders at this price.
The system also includes features for order cancellation, where instructions to cancel orders can be processed before the benchmark fixing time. The credit allocation reflects the trading entity's willingness to act through a prime broker, and entities remain anonymous to each other until after the matching process. Notifications regarding unused credit portions are sent to the trading entities after matching, and credit limits can be renewed automatically upon request. The system allows trading entities to provide credit limits for allocation to various counterparties, with the possibility of borrowing allocated credit from other entities, enhancing the efficiency and flexibility of trading operations.
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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.
