IP Library › Granted Patent US 12694447
Granted Patent B2
US 12694447 · App. 18/911,714 · Granted Jul 28, 2026

Dynamic market order execution validation mechanism

Inventor: Brian J. Buck (Livermore, CA)
Assignee: Trading Technologies International, Inc.
G06Q40/04
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Quick Facts
Patent No.
US 12694447
App. No.
18/911,714
Granted
Jul 28, 2026
Kind
B2
Abstract

A system, method, and non-transitory computer-readable information recording medium allows a user or trader to prepare, and send to an exchange, a trade order using a trading device. The trading device receives market data from an exchange and displays the received market data on a display unit of the trading device. The trading device also receives a trade order instruction via an input device at the trading device and detecting an occurrence of a market update as a function of the received market data within an established trade order time period associated with a time at which the trade order was received. If the occurrence of the market update was detected during the established trade order time period, the execution of the trade order is prevented.

Claims (50)

1 . A method including:

receiving, by a graphical user interface of a trading application on a computing device, a selection of an order entry area, wherein the order entry area is associated with a price for a tradeable object, wherein the selection of the order entry area provides entry of a trade order instruction for the tradeable object at the price associated with the selected order entry area;

initiating, by the trading application on the computing device, a validation time period, wherein the validation time period begins at a validation time period start time and ends at a validation time period end time;

preparing, by the trading application on the computing device, in response to receiving the selection, an order message for the tradeable object based on the trade order instruction to be sent to an electronic exchange at the validation time period end time;

receiving, by the trading application on the computing device, market data related to the tradeable object from the electronic exchange;

determining, by the trading application on the computing device, before the validation time period end time, that the received market data includes a market update for the tradeable object; and

preventing, by the trading application on the computing device, in response to determining that the received market data includes the market update, the order message from being sent to the electronic exchange.

2 . The method of claim 1 , wherein the selection of the order entry area is based on one of a mouse input, a trackpad input, a keyboard input, or a touchscreen input.

3 . The method of claim 1 , wherein the graphical user interface includes a price axis, wherein the order entry area is aligned with a price level along the price axis.

4 . The method of claim 1 , wherein the validation time period start time is the time at which the selection is received.

5 . The method of claim 1 , wherein the validation time period start time is before the selection is received.

6 . The method of claim 1 , wherein the market data is received before the selection is received.

7 . The method of claim 1 , wherein the market update includes at least one of (i) a change in a price level of the inside market for the tradeable object; or (ii) a change in market depth for the tradeable object.

8 . The method of claim 1 , further including:

providing, by the trading application on the computing device, in response to preventing sending the order message, a notification that the order message was not sent;

receiving, by the graphical user interface of the trading application on the computing device, a second selection indicating that the order message should be sent; and

sending, by the trading application on the computing device, in response to receiving the second selection, the order message to the electronic exchange.

9 . A tangible, non-transitory computer readable medium including instructions that, when executed, cause at least one processor to perform a set of operations including:

receiving, by a graphical user interface of a trading application on a computing device, a selection of an order entry area, wherein the order entry area is associated with a price for a tradeable object, wherein the selection of the order entry area provides entry of a trade order instruction for the tradeable object at the price associated with the selected order entry area;

initiating, by the trading application on the computing device, a validation time period, wherein the validation time period begins at a validation time period start time and ends at a validation time period end time;

preparing, by the trading application on the computing device, in response to receiving the selection, an order message for the tradeable object based on the trade order instruction to be sent to an electronic exchange at the validation time period end time;

receiving, by the trading application on the computing device, market data related to the tradeable object from the electronic exchange;

determining, by the trading application on the computing device, before the validation time period end time, that the received market data includes a market update for the tradeable object; and

preventing, by the trading application on the computing device, in response to determining that the received market data includes the market update, the order message from being sent to the electronic exchange.

10 . The tangible, non-transitory computer readable medium of claim 9 , wherein the validation time period start time is the time at which the selection is received.

11 . The tangible, non-transitory computer readable medium of claim 9 , wherein the validation time period start time is before the selection is received.

12 . The tangible, non-transitory computer readable medium of claim 9 , wherein the market data is received before the selection is received.

13 . The tangible, non-transitory computer readable medium of claim 9 , wherein the market update includes at least one of (i) a change in a price level of the inside market for the tradeable object; or (ii) a change in market depth for the tradeable object.

14 . The tangible, non-transitory computer readable medium of claim 9 , wherein the set of operations further includes:

providing, by the trading application on the computing device, in response to preventing sending the order message, a notification that the order message was not sent;

receiving, by the graphical user interface of the trading application on the computing device, a second selection indicating that the order message should be sent; and

sending, by the trading application on the computing device, in response to receiving the second selection, the order message to the electronic exchange.

15 . A computing device including:

at least one processor;

a trading application; and

tangible, non-transitory computer readable medium including instructions that, when executed, cause the at least one processor to perform a set of operations including:

receiving, by a graphical user interface of the trading application, a selection of an order entry area, wherein the order entry area is associated with a price for a tradeable object, wherein the selection of the order entry area provides entry of a trade order instruction for the tradeable object at the price associated with the selected order entry area;

initiating, by the trading application, a validation time period, wherein the validation time period begins at a validation time period start time and ends at a validation time period end time;

preparing, by the trading application, in response to receiving the selection, an order message for the tradeable object based on the trade order instruction to be sent to an electronic exchange at the validation time period end time;

receiving, by the trading application, market data related to the tradeable object from the electronic exchange;

determining, by the trading application, before the validation time period end time, that the received market data includes a market update for the tradeable object; and

preventing, by the trading application, in response to determining that the received market data includes the market update, the order message from being sent to the electronic exchange.

16 . The computing device of claim 15 , wherein the validation time period start time is the time at which the selection is received.

17 . The computing device of claim 15 , wherein the validation time period start time is before the selection is received.

18 . The computing device of claim 15 , wherein the market data is received before the selection is received.

19 . The computing device of claim 15 , wherein the market update includes at least one of (i) a change in a price level of the inside market for the tradeable object; or (ii) a change in market depth for the tradeable object.

20 . The computing device of claim 15 , wherein the set of operations further includes:

providing, by the trading application, in response to preventing sending the order message, a notification that the order message was not sent;

receiving, by the graphical user interface of the trading application, a second selection indicating that the order message should be sent; and

sending, by the trading application, in response to receiving the second selection, the order message to the electronic exchange.