US7412416B2 - User interface for an electronic trading system - Google Patents

Both inventions operate the same under the same conditions. Thus throwing another year or more of delay into the litigation that started in A graph having a first axis and a second axis may be displayed on a display of a workstation. The first axis may correspond to maturity date. The trade basically consists of two or futures spread transactions with either three or four different futures months at one or more differentials. The value marker indicates the value of the new order as the order is being placed. As to my emotional blindness?

Trading Technologies: User Interface for Stock Trading January 19, Patent Abstract Idea, anticipation, Enablement, obviousness, Subject Matter Eligibility Dennis Crouch Before writing more about Trading Technologies v.

The User Interface

In this example, first axis represents the maturity date for a financial instrument, and second axis represents the yield of a financial instrument. It should be noted that the values shown along second axis e.

For example, instead of representing the yield of a financial instrument, second axis could represent the price of a financial instrument. As shown, graph has two curves and Thus, graph shows the relationship between United States Agencies curve and United States Treasuries curve It should be noted that the present example of a spread is merely illustrative.

Preferably, the curves shown in graph are updated in real-time. In other words, the curves shown in graph are updated as the graphical trading interface application keeps up with some activity e.

In one example, the graphical trading interface application may receive information in connection with some activity from a trading platform that forms a portion of the electronic trading system e.

In another example, the graphical trading interface application may receive information in connection with some activity from an external source, such as a different trading platform or a financial market ticker. The market ticker may include, for example, information in connection with the trading platform that forms a portion of the electronic trading system, in addition to information in connection with other trading platforms.

In this example, in which first axis represents the maturity date, the fixed width is a length of time, such as one year, two years, etc. When a user selects a portion of graph using, for example, an input device e. In the example shown, the user has selected a point on graph that is along the center axis of column Column defines the span of maturity dates for United States Agency curve and United States Treasury curve from February to October In another example, shown in FIG.

When the user selects a portion of graph using, for example, an input device e. The user may enter a start date in field and an end date in field The user may submit the start and end dates by selecting go button These entries correspond to a range of maturity dates for Unites States Agencies curve and United States Treasuries curve from February to October Although overlay as shown in FIG. Fields and of overlay may correspond to any suitable parameter represented by first axis , thereby setting a width of the first axis for zooming into graph Also, as stated hereinabove in connection with FIG.

Graphical trading interface , or simply graph , may be provided, for example, in response to a user zooming into graph as described hereinabove in reference to FIGS. Graph shows a range of maturity dates for Unites States Agencies curve from February to October In this example, first axis of graph represents the maturity date for a financial instrument as in, for example, FIG.

For example, second axis may represent the spread between the yields for curves and of FIG. Thus, in the example of FIG. This is because, as stated hereinabove, second axis represents the spread between United States Agencies curve and United States Treasuries curve However, the example of FIG. Graph is shown as having two axes i. Graph includes first symbols i. In the example shown, each of the bids and offers corresponds to a bid or an offer for United States Agencies at a particular maturity date.

In the example of FIG. Information overlay may be displayed in response to an interaction by the user. Information overlay shows the issue, coupon, maturity date, exact market spread, and size related to bid and offer As described hereinabove, a user may place a trade directly from a graphical trading interface.

From graph of FIG. In an example in which the user desires to place a bid or offer, the user may select any portion of graph In response to the user's selection, the user may be provided with trading dialog box overlay as shown in FIG.

Trading dialog box overlay may include price field and size field , into which the user may enter a desired price and size, respectively, for a particular financial instrument. The user may then select either bid button or offer button , depending on the desired transaction.

Referring back to FIG. Preferably, the user selects one of a bid , an offer , or curve If one or both of price field and size field are not pre-filled, or if the user desires to alter the value in one or both of the fields, the user may do so prior to selecting either buy button or sell button to complete the transaction. Trading dialog box overlay includes close button to allow the user to close the overlay and return to graph Graph of FIGS.

Graphical trading interfaces , , and , or simply graphs , , and , are graphs having only one axis each. Multiple graphs are shown at one time in FIG. This is because graphs , , and do not take up much space on a display e. As shown in drop-down title box , graph represents a certain parameter i. Graph includes axis , which in this example represents the spread between the yield for the United States Agency having a maturity date of May and the United States Treasury having a maturity date of May Graph includes first symbol i.

The information provided in graph corresponds to a portion of the information provided in graph FIG. For example, as shown in FIG. Thus, while graph FIG. The example of FIG. However, it should be noted that graphs and have identical features to those described in connection with graph i.

The difference between graphs and , obviously, is that each of graphs and represent the spread between the yield for a United States Agency having a particular maturity date and a United States Treasury having the same maturity date. From any of graphs , , and , the user may desire to place a bid or offer or to submit a hit or lift in response to a particular bid or offer. As described hereinabove in connection with FIG. As described hereinabove, the trading dialog box may be pre-filled with information corresponding to the selection.

Graphical trading interface , or simply graph , provides the user with the ability to compare curves to one another, each curve representing a range of values of a financial instrument, and to place a trade directly from the graph.

The user may be provided with a number of different curves from which to choose. For example, the user may select a first curve e. Although only two drop-down title boxes are shown, the user may be provided with any number of title boxes or other such options to display any number of curves for comparison in graph Because graph includes more than one curve, a legend such as legend may be included in order to differentiate between different curves.

A comparison of curves, each curve representing a range of values of a financial instrument, may provide a trader with a quick, accurate representation of a market's current position. In other words, and as described in more detail in reference to FIG.

In the example shown in the FIG. Thus, the trader may desire to capitalize on the anomalous situation quickly and easily. Specifically, the trader may desire to both sell ten-year Treasuries and buy twenty-year Treasuries.

To do so, the trader may select region of graph and, in response to the selection, may be provided with trading dialog box overlay as shown in FIG. Trading dialog box overlay may allow the trader to both buy and sell in response to an anomalous situation such as that shown in FIG.

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I would now like to redesign the user interface for my application, and make it similar to an example screen shot of a trading application Can someone please advice tips on what path I should follow to make a UI of similar nature? I do not have microsoft blend. Whatever answer you end up getting, implementing this without Blend will be painful.

I'd recommend you get yourself a copy: You have many TextBoxes and redundant information, whereas that application doesn't require to use keyboard at all. It seems there are a group of multiple windows glued to one another at the sides, or are they embedded inside a parent windows? Hopefully you would have completed your application by now. VS1 5, 2 28 The trader specifies the type by selecting an offer or bid token to place the order, or by manually indicating the order type on the task bar.

Second, the client terminal receives a quantity specified for the order. The quantity, as described above, is specified by the trader either by entering the number directly into the order task bar or by adjusting the size of the order token. In an embodiment where the order information is entered into the taskbar, an order icon will be generated whose vertical size matches the quantity specified after the order has been processed by the server The client terminal then receives a value for the order.

Again, the trader can specify the value by entering the information into the taskbar or can drag the order token to the location corresponding to the value. Finally, the client terminal displays an order confirmation window displaying the value, quantity, and expiration information. The trader can modify the order in this window and then must either cancel the order by closing the window or pressing the cancel button or submit it by pressing the OK button.

The client terminal which receives the value and quantity and order type information transmits the information to the server The server then processes the order information, and updates the order table. Once the server transmits updated order information to a client terminal , the client terminal , in the priority view, determines whether a slot is open adjacent an existing order which has a lower value, if the order is a bid, or a higher value, if the order is an offer.

In the priority view , the horizontal axis is divided into slots, each slot having a width equal to an order icon , and each slot separated by a standard set-off unit.

Incoming orders are sorted by the value of the order. For offers, the offers with the lowest values are positioned closest to the axis of values , and for bids, the bids with the highest values are positioned closest to the axis of values When a new order is received, the client terminal re-sorts the outstanding orders and places the order icons , in the appropriate positions. If a new order is equal to an existing order of the same type, the order is stacked onto the existing order.

However, the methodology is equally applicable to placing a new offer. A new bid is designated for the slot adjacent an existing bid which has the least value of the set of existing bids having values greater than the value of the new bid. The client terminal determines whether this determined slot has an existing bid within it. If it does not, the icon is placed at the determined slot.

If the slot does contain an existing bid, the client terminal determines whether the existing bid has a value less than the requested bid. All existing bids that have values less than the requested bid are moved to the adjacent slot positioned away from the axis of values All other bids having values less than the requested bid are shifted correspondingly.

If the client terminal determines that the existing bid has a value equal to the existing bid, the requested bid is stacked below the existing bid or bids, away from the horizontal separation between bids and offers as described above. If the client terminal determines that the existing bid is greater than the requested bid, a new slot is determined for the requested bid, and the process is repeated.

If there is not, the new bid is added to the table, and the information regarding the new bid is sent to the client terminals for display. If there is an existing offer whose value is less than or equal to the requested bid, i. If the offer does have a quantity less than the bid, the server removes the offer from the order table and adds a new bid to the order table with the quantity reduced by the quantity of the offer removed.

The server records a trade between the trader submitting the new bid and the trader submitting the removed offer, at a value equal to the offer value and a quantity equal to the offer quantity.

All of the outstanding client terminals are sent the information regarding the trade. The client terminals then remove the existing offer icon and add a bid icon which has a size corresponding to the difference in quantities between the existing offer icon and the requested bid icon.

The transaction server determines again whether there is another existing offer in the order table having a value less than or equal to the requested bid to determine if another transaction can be made with the quantity remaining in the bid. The server also determines whether the offer has a quantity greater than the quantity of the requested bid. If it does, the quantity of the offer is reduced by the quantity of the bid, and the updated offer information is sent to the client terminals for display.

A trade is recorded between the trader submitting the new bid and the trader who submitted the offer at a value equal to the offer value and a quantity equal to the bid quantity. All of the outstanding client terminals are sent the information regarding the trade and update the user interface displays accordingly. If the quantities of the bid and offer are equal, the offer is removed from the table and the transaction is complete.

All of the outstanding client terminals are sent the information regarding the trade, and update the user interface displays accordingly. A confirmation window is displayed , and, upon confirmation of the order, the order information is transmitted to the server Again, this may occur responsive to the trader entering in the information directly or dragging an order token to the proper location and after confirming the order.

The server receives the order information, updates the order table, and sends the updated information to the client terminals The client terminals display a new order icon at a location corresponding to the value and quantity of the order with respect to the axis of quantities and axis of values.

If the new order is an offer, and there is an existing bid for a value higher than or equal to the value of the offer, a transaction is completed, and a new offer or a modified bid token is displayed responsive to the quantities that the original offer and bid icons represented.

The pit panel view provides a visual interface to other members of the pit All users who are currently registered to the pit are displayed in the pit panel This is critical information to a trader regarding the activity of the pit If the pit is crowded, the trader can expect volatility in trading. If the pit is empty, the trader can expect light trading and relatively stable values for the item. The pit panel displays trader icons , observer icons , and floor broker icons Observers are users who are registered to the pit but who are not actively trading and floor brokers are individuals who have expertise on a pit's item and traders, and who assist traders in executing unusual trades, negotiating a deal with multiple traders, or providing history and information on traders to others.

As the observers do not trade for themselves, their icons are placed on the outside of the pit icon Floor brokers who do not trade also have their icons placed on the outside of the pit icon The trader icons are displayed on the pit icon The pit icon is preferably displayed as a series of concentric polygons, where each polygon represents an activity level or levels.

Traders who are more active are placed closer to the center of the pit icon The most active trader, in the example of FIG. In a preferred embodiment, each polygon represents a range of activity levels. For example, the innermost polygon contains the traders with the second through ninth highest activity levels.

The next polygon contains the traders having the tenth through twenty-sixth highest activity levels, and so forth. By grouping traders into activity ranges, and thus shifting a trader's icon out of a polygon only in response to the trader's activity level shifting out of the range represented by the polygon, icon changes and consequent flicker in the display of the pit icon are minimized. However, a trader is able to easily ascertain who the active traders in a pit are and how active the traders are by noting the relative locations of the trader icons in the pit icon Each trader icon has order indicators to show the quantity of orders a trader has outstanding.

Preferably, there are separate indicators for bids and offers, each showing the volume of outstanding bids or offers the trader currently has placed. Other order indicators may be optionally displayed, for example, indicating the sum of all quantities of orders or the volume of orders entered over a specified period of time.

Double clicking on a trader icon generates a communication window as shown in FIG. Thus, the pit panel provides a sense of community in the pit by visual representing useful information, and provides additional information to the trader which the trader can use in anticipating the market.

First, a trading pit icon is displayed Next, the client determines whether a predetermined period of time has passed. The pit panel data is updated periodically, and the client waits for that amount of time before re-generating the display with the new data. If the server determines that the predetermined period has expired, a first trader icon is selected The client determines whether the trader is still connected to the server from the data provided by the server If the trader is not, the trader icon for the trader is removed , and the client determines whether there are more traders.

If the trader is still connected, an activity level is determined for the trader. Activity levels are determined as a combination of the volume of outstanding orders, the value of outstanding orders, recent activity, or other measures which determine how active a trader has been. Once the activity level has been determined, the client displays the icon for the trader at the location corresponding to the activity level.

In an embodiment where order indicators are displayed, the order indicators are updated to include the latest order data. In the preferred embodiment, as discussed above, the pit icon is comprised of concentric polygons or rings, the traders are ordered by activity levels, and each polygon represents a range of activity level orders. After the activity level of a trader is determined, the traders are reordered responsive to their activity levels, and the trader icon for each the trader is placed in the polygon designated for the order of the trader.

The client determines if there are more traders. If there are not, the client determines if there are bystanders and, if there are, selects the first bystander icon , and determines whether the bystander is connected using data that is provided by the server If the bystander is not connected, the bystander icon is removed If the bystander is connected, the client determines whether there are more bystanders.

If there are not, the client returns to the step of determining whether a predetermined time period has ended, as the pit panel view has been updated to reflect the current users and their current activity levels. Year of fee payment: A user interface for an electronic trading exchange is provided which allows a remote trader to view in real time bid orders, offer orders, and trades for an item, and optionally one or more sources of contextual data.

Individual traders place orders on remote client terminals, and this information is routed to a transaction server. The transaction server receives order information from the remote terminals, matches a bid for an item to an offer for an item responsive to the bid corresponding with the offer, and communicates outstanding bid and offer information, and additional information such as trades and contextual data back to the client terminals.

Each client terminal displays all of the outstanding bids and offers for an item, allowing the trader to view trends in orders for an item. A priority view is provided in which orders are displayed as tokens at locations corresponding to the values of the orders. The size of the tokens reflects the quantity of the orders. An alternate view positions order icons at a location which reflects the value and quantity of the order.

Additionally, contextual data for the item is also displayed to allow the trader to consider as much information as possible while making transaction decisions. A pit panel view is also provided in which traders connected to the pit are represented by icons, and are displayed corresponding to an activity level of the trader. A method for facilitating trading and displaying information regarding the buying and selling of a good, the method comprising: The method of claim 1 , wherein the historical trading data is of the good, another good, or a combination of goods.

The method of claim 1 , further comprising the step of displaying a bar line along the vertical axis of price values, the bar line indicating a high and a low price value for the good over a time period. The method of claim 1 , further comprising the step of displaying a set of indicators representing a traded volume along the horizontal axis of time. The method of claim 1 , wherein the horizontal axis of time has units according to an established time period.

The method of claim 1 , wherein the historical trading data comprises trade price data for the good over a period of time. The method of claim 1 , wherein the historical trading data comprises average value data for the good over a period of time.

The method of claim 1 , further comprising the step of displaying a marker that is representative of a value quantifying metric. The method of claim 8 , wherein the value quantifying metric is a formula. The method of claim 1 , wherein the good comprises a commodity. The method of claim 1 , wherein the good comprises a stock. The method of claim 1 , wherein the step of placing the order icon comprises dragging the order icon with the input device to the location along the vertical axis of price values.

The method of claim 1 , wherein the electronic trading system comprises a matching process for matching orders of a bid type or an offer type. A computer readable medium, for an electronic exchange in which a good is bought and sold responsive to orders submitted by traders, each order specifying a value and quantity for the order, the computer readable medium containing a program containing instructions to cause a processor to perform the following steps: The computer readable medium of claim 14 , wherein the historical trading data is of the good, another good, or a combination of goods.

The computer readable medium of claim 14 , further comprising the step of displaying a bar line along the vertical axis of price values, the bar line indicating a high and a low price value for the good over a time period. The computer readable medium of claim 14 , further comprising the step of displaying a set of indicators representing a traded volume along the horizontal axis of time. The computer readable medium of claim 14 , wherein the horizontal axis of time has units according to any time period.

The computer readable medium of claim 14 , wherein the historical trading data comprises trade price data for the good over a period of time. The computer readable medium of claim 14 , wherein the historical trading data comprises average value data for the good over a period of time. The computer readable medium of claim 14 , further comprising the step of displaying a marker that is representative of a value quantifying metric.

The computer readable medium of claim 14 , wherein the step of placing the order icon comprises dragging the order icon with an input device to the location along the vertical axis of price values. The method of claim 1 further comprising receiving a command to modify the particular price value to a different price value after the steps of placing the order icon and generating the order; sending the order to an electronic trading system, wherein the order is for the particular quantity of the good and at different price value determined based on the modification of the particular price value.

The method of claim 1 further comprising receiving a command to modify the particular quantity to a different quantity after the steps of placing the order icon and generating the order; sending the order to an electronic trading system, wherein the order is for the different quantity of the good and at the particular price value determined based on the modification of the particular price value.

US USB2 en Method and system for providing electronic information for multi-market electronic trading. Method and system for providing automatic execution of trading strategies for electronic trading. Method and system for providing a graphical user interface and trading system for professional electronic trading. Method and system for providing risk management for multi-market electronic trading. Method and system for providing multiple graphic user interfaces for electronic trading.

Method and system for providing configurable features for graphical user interfaces for electronic trading. Method and system for providing automatic execution of black box strategies for electonic trading. System and method for determining confidence levels for a market depth in a commodities market.

Method and system for providing electronic information for risk assessment and management for multi-market electronic trading. Method and system for providing automatic execution of black box strategies for electronic trading.

Method and system for providing electronic option trading bandwidth reduction and electronic option risk management and assessment for multi-market electronic trading. Method and system for providing automatic execution of gray box strategies for electronic trading. System and method for displaying a constant time selection context menu interface.

Systems and methods for electronic trading that provide incentives and linked auctions. Data processing, analysis, and visualization system for use with disparate data types. Automated trading exchange system having integrated quote risk monitoring and integrated quote modification services.

Click based trading with intuitive grid display of market depth and price consolidation. System and method for automatic scalping of a tradeable object in an electronic trading environment. A system and method for trading and displaying market information in an electronic trading environment. System and method for trading and displaying market information in an electronic trading environment.

Method and apparatus for stock and index option price improvement, participation, and internalization. A system and method for real-time options trading over a global computer network. Managing customization of projects prior to manufacture in an electronic commerce system.

Providing visualization of market offers using patterns of geometric display elements. Technique for calculating and displaying securities options data to produce a visual pattern of potential future values. Method and system for providing directory assistance to erroneous telephone calls. Method and system for providing directory assistance to erroneous telephone calls via wearable devices.

System and method for displaying highest and lowest traded prices of tradable objects. Systems and methods for distributing pricing data for complex derivative securities. Method and system for alphanumeric indexing for advertising with cloud computing.

System and method for facilitating trading of multiple tradeable objects in an electronic trading environment. Trading interface for facilitating trading of multiple tradeable objects in an electronic trading environment. Systems and methods for providing an interactive graphical representation of a market for an electronic trading system. System and method for creating a market map in an electronic trading environment.

Your Answer

A method and system for providing a graphical user interface and trading system for professional electronic trading. A new professional trading application provides a back end trading platform that allows professional traders to quickly and efficiently execute electronic trades on . I would now like to redesign the user interface for my application, and make it similar to an example screen shot of a trading application Can someone please advice tips on what path I should follow to make a UI of similar nature? eg., if there is an open source C# WPF application which has a similar look and feel, that would be great. or if there is a library which has cool listview, scrollbar and progress bars. Trading Technologies: User Interface for Stock Trading. Before writing more about Trading Technologies v. CQG, I will first note that TT is my former client and I personally filed the original complaint in this very case 12 years ago (). Although TT is no longer my client, I am bound by and respect the rules of professional ethics and the duties owed to former clients.