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公开(公告)号：US10891692B2
公开(公告)日：2021-01-12
申请号：US14862839
申请日：2015-09-23
申请人： DCFB LLC
摘要： An electronic exchange system network includes a trader site having an automated trading system capable of submitting orders to an exchange site. The automated trading system determines whether an order should be submitted based on, for example, the current market price of an option and theoretical buy and sell prices. The theoretical buy and sell prices are derived from, among other things, the current market price of the security underlying the option. A look-up table stores a range of theoretical buy and sell prices for a given range of current market price of the underlying security. As the price of the underlying security changes, a new theoretical price may be indexed in the look-up table, thereby avoiding calculations that would otherwise slow automated trading decisions. In addition, a system of checks may be conducted to ensure accurate and safe automated trading.
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公开(公告)号：US09846910B2
公开(公告)日：2017-12-19
申请号：US14827925
申请日：2015-08-17
申请人： DCFB LLC
CPC分类号： G06Q40/04 , G06Q40/025
摘要： An electronic exchange system network includes a trader site having an automated trading system capable of submitting orders to an exchange site. The automated trading system determines whether an order should be submitted based on, for example, the current market price of an option and theoretical buy and sell prices. The theoretical buy and sell prices are derived from, among other things, the current market price of the security underlying the option. A look-up table stores a range of theoretical buy and sell prices for a given range of current market price of the underlying security. As the price of the underlying security changes, a new theoretical price may be indexed in the look-up table, thereby avoiding calculations that would otherwise slow automated trading decisions. In addition, a system of checks may be conducted to ensure accurate and safe automated trading.
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公开(公告)号：US20140324663A1
公开(公告)日：2014-10-30
申请号：US14243111
申请日：2014-04-02
申请人： DCFB LLC
IPC分类号： G06Q40/04
CPC分类号： G06Q40/04 , G06Q40/025
摘要： An electronic exchange system network includes a trader site having an automated trading system capable of submitting orders to an exchange site. The automated trading system determines whether an order should be submitted based on, for example, the current market price of an option and theoretical buy and sell prices. The theoretical buy and sell prices are derived from, among other things, the current market price of the security underlying the option. A look-up table stores a range of theoretical buy and sell prices for a given range of current market price of the underlying security. As the price of the underlying security changes, a new theoretical price may be indexed in the look-up table, thereby avoiding calculations that would otherwise slow automated trading decisions. In addition, a system of checks may be conducted to ensure accurate and safe automated trading.
摘要翻译： 电子交换系统网络包括具有能够向交换站点提交订单的自动交易系统的交易者站点。 自动交易系统确定是否应根据期权的当前市场价格和理论买卖价格提交订单。 理论买入和卖出价格来自于（其中包括）该期权基础的当前市场价格。 查询表存储一系列理论上的买卖价格，用于基本证券的当前市场价格的给定范围。 随着基础证券价格的变化，新的理论价格可能在查询表中被索引，从而避免计算，否则会减慢自动交易决策。 此外，可以进行检查系统以确保准确和安全的自动交易。
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公开(公告)号：US10832322B2
公开(公告)日：2020-11-10
申请号：US14082591
申请日：2013-11-18
申请人： DCFB LLC
摘要： An electronic exchange system network includes a trader site having an automated trading system capable of submitting orders and/or quotes to an exchange site. The automated trading system determines whether an order or quote should be submitted based on, for example, the current market price of an option and theoretical buy and sell prices. The theoretical buy and sell prices are derived from, among other things, the current market price of the security underlying the option. The theoretical buy and sell prices are calculated when underlying factors that contribute to the theoretical prices change. Computation times of the theoretical prices may be reduced by using precalculated values and/or using interpolation and extrapolation. Other techniques may be used in addition or in the alternative to speed automatic decision-making. In addition, a system of checks may be conducted to ensure accurate and safe automated trading. The automated trading system may be capable of automatically submitting orders in connection with the underlying security in order to hedge part of the delta risk associated with the automated option trades.
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公开(公告)号：US10810668B2
公开(公告)日：2020-10-20
申请号：US14828117
申请日：2015-08-17
申请人： DCFB LLC
摘要： An electronic exchange system network includes a trader site having an automated trading system capable of submitting orders and/or quotes to an exchange site. The automated trading system determines whether an order or quote should be submitted based on, for example, the current market price of an option and theoretical buy and sell prices. The theoretical buy and sell prices are derived from, among other things, the current market price of the security underlying the option. The theoretical buy and sell prices are calculated when underlying factors that contribute to the theoretical prices change. Computation times of the theoretical prices may be reduced by using precalculated values and/or using interpolation and extrapolation. Other techniques may be used in addition or in the alternative to speed automatic decision-making. In addition, a system of checks may be conducted to ensure accurate and safe automated trading. The automated trading system may be capable of automatically submitting orders in connection with the underlying security in order to hedge part of the delta risk associated with the automated option trades.
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公开(公告)号：US08725621B2
公开(公告)日：2014-05-13
申请号：US11474951
申请日：2006-06-27
IPC分类号： G06Q40/00
CPC分类号： G06Q40/04 , G06Q40/025
摘要： An electronic exchange system network includes a trader site having an automated trading system capable of submitting orders to an exchange site. The automated trading system determines whether an order should be submitted based on, for example, the current market price of an option and theoretical buy and sell prices. The theoretical buy and sell prices are derived from, among other things, the current market price of the security underlying the option. A look-up table stores a range of theoretical buy and sell prices for a given range of current market price of the underlying security. Accordingly, as the price of the underlying security changes, a new theoretical price may be indexed in the look-up table, thereby avoiding calculations that would otherwise slow automated trading decisions. Other techniques may be used in addition or in the alternative to speed automatic decision-making. In addition, a system of checks may be conducted to ensure accurate and safe automated trading. The automated trading system may be capable of automatically submitting orders in connection with the underlying security in order to hedge part of the delta risk associated with the automated option trades.
摘要翻译： 电子交换系统网络包括具有能够向交换站点提交订单的自动交易系统的交易者站点。 自动交易系统确定是否应根据期权的当前市场价格和理论买卖价格提交订单。 理论买入和卖出价格来自于（其中包括）该期权基础的当前市场价格。 查询表存储一系列理论上的买卖价格，用于基本证券的当前市场价格的给定范围。 因此，随着基础证券的价格发生变化，新的理论价格可能在查询表中被索引，从而避免了自动交易决策的计算。 另外还可以使用其他技术，也可以用来加速自动决策。 此外，可以进行检查系统以确保准确和安全的自动交易。 自动交易系统可能能够自动提交与底层证券相关的订单，以对冲与自动期权交易相关的部分增值风险。
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