发明授权
- 专利标题: Controlling markets during a stop loss trigger
- 专利标题(中): 在止损触发期间控制市场
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申请号: US13324490申请日: 2011-12-13
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公开(公告)号: US08489488B2公开(公告)日: 2013-07-16
- 发明人: James Farrell , James Krause
- 申请人: James Farrell , James Krause
- 申请人地址: US IL Chicago
- 专利权人: Chicago Mercantile Exchange Inc.
- 当前专利权人: Chicago Mercantile Exchange Inc.
- 当前专利权人地址: US IL Chicago
- 代理机构: Lempia Summerfield Katz LLC
- 主分类号: G06Q40/00
- IPC分类号: G06Q40/00
摘要:
A system mitigates market spike effects caused by conditional ordering triggering and election in an automated matching system. The system monitors trading as a result of cascading triggering of conditional orders. When an order is executed beyond a predetermined price threshold, an instrument may be flagged, allowing matching to occur only at or within the predetermined price threshold. Orders within the price threshold are matched at the price threshold against orders beyond it, dampening any instantaneous damaging effects of the price spike. The system may adjust the price threshold when market appropriate, allowing the order flow to bring the market back to whatever is the true price level. The system mitigates purely conditional order cascade driven price fluctuations, but allows the market to continuously trade in controlled price and time intervals ensuring that true market moves can still occur without price control mechanisms hindering trade matching and true price discovery.
公开/授权文献
- US20120084194A1 Controlling Markets During a Stop Loss Trigger 公开/授权日:2012-04-05
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