TMX Group has been granted a patent for a method that processes data messages in an electronic marketplace. The method allows certain messages, identified by a bypass condition, to be executed immediately, while others are delayed based on a calculated variance, enhancing operational efficiency. GlobalData’s report on TMX 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 TMX Group, was a key innovation area identified from patents. TMX Group's grant share as of June 2024 was 40%. Grant share is based on the ratio of number of grants to total number of patents.
Method for processing data messages in trading systems
The patent US12045885B2 outlines a method and system for updating a database in the context of an electronic marketplace or trading system. The method involves receiving a series of new data messages that include orders, identifying specific messages that meet a bypass condition—specifically, those that increase liquidity—and executing operations on these identified messages without delay. In contrast, operations related to other messages are delayed. The bypass condition may require that the order meets or exceeds a minimum volume, and the delay for other messages is calculated based on a base delay plus a variance, which can be selected randomly or pseudo-randomly, ensuring it does not exceed a predetermined maximum.
Additionally, the system described includes a communications interface for receiving data messages, memory for storing delayed messages, and a processor that identifies messages conforming to the bypass condition. The processor is responsible for calculating the delay and managing the execution of orders, ensuring that those enhancing liquidity are prioritized. The system also incorporates a database update process to evaluate incoming messages against the bypass condition and a delay thread to manage the timing of message processing. This structured approach aims to optimize order processing in electronic marketplaces by prioritizing liquidity-enhancing orders while managing the timing of other transactions.
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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.
