(12) United States Patent ao) Patent No.: Us 7,844,536 Bi
Andrews et al. (45) Date of Patent: Nov. 30,2010
(73) Assignee: Trading Technologies International,
Inc., Chicago, IL (US)
( * ) Notice: Subject to any disclaimer, the term of this patent is extended or adjusted under 35 U.S.C. 154(b) by 1495 days.
(21) Appl.No.: 10/356,277
(22) Filed: Jan. 31, 2003
(51) Int. CI.
G06Q 40/00 (2006.01)
(52) U.S. CI 705/37
(58) Field of Classification Search 705/36,
See application file for complete search history.
(56) References Cited
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A system and method for linking and managing linked orders are described. According to one method, a trader may first link two or more orders into a linked order, and then one or more parameters associated with one of the orders may be dynamically changed based on user inputs or information being received from an exchange. For example, a trader may link any two orders as an order cancel order, and each linked order may be associated with the same or different tradable objects, order quantities, and may be submitted to one or more exchanges. The order quantities may be then dynamically updated based on updates being received from the one or more exchanges and further based on a quantity ratio between the two orders. Further, the linked order may be submitted upon detecting a fill for another order.
18 Claims, 12 Drawing Sheets