Opening price process for trading system

Details Opening price process for trading system Opening price process for trading system

G - Physics

06

F

G06F 17/60 (2000.01)

Patent

CA 2384152

A system for determining an opening price for products traded over a distributed, networked computer system is described. The system (10) includes a plurality of workstations (12) for entering orders for financial products into the distributed, networked computer system, said plurality of workstations for entering orders and a server computer (20) coupled to the workstations, said server computer executing a server process that determines an opening price for the product. The opening price process posting an allocation message to market maker participants to communicate an expected allocation of the imbalance for execution at an initial opening of the market in the event that the imbalance exists at the opening.

L'invention concerne un système permettant de déterminer un cour d'ouverture pour des produits échangés par l'intermédiaire d'un système d'exploitation réparti en réseau. Le système (10) comprend plusieurs stations de travail (12) conçues pour entrer dans ledit système d'exploitation des commandes de produits financiers. L'invention concerne également ces stations de travail et un serveur (20) couplé à ces dernières, le serveur effectuant un programme serveur qui détermine un cours d'ouverture pour le produit. Le programme déterminant le premier prix envoie un message d'attribution à des participants au marché afin de leur communiquer une attribution prévue d'un déséquilibre, en vue de l'exécution lors de l'ouverture initiale du marché en cas d'existence de ce déséquilibre.

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