Method and a system for complex price calculations in automated financial trading
The invention discloses a function in an automated system for trading in one or several financial instruments. The function of the invention is used for calculating the price of an instrument which has been agreed upon between a first party, a seller, and a second party, a buyer, and comprises an automated sub-function for enabling the first and the second party to interactively define the instrument which is to be traded, an automated sub-function for retrieving data regarding the instrument, an automated sub-function for using said retrieved data to calculate a price for the instrument, and an automated sub-function for storing calculated prices.
1 . An automated system for trading in one or several financial instruments, said system comprising a unit for calculating the price of an instrument which has been agreed upon between a first party, a seller, and a second party, a buyer, said unit comprising automated means for:
enabling the first and the second party to define, in interaction with the automated system, the instrument which is to be traded,
retrieving data regarding the instrument,
using said retrieved data to calculate a price for the instrument, and
storing said calculated prices.
2 . The system of claim 1 , in which the data retrieved is data regarding the components underlying the instrument of the trade.
3 . The system of claim 1 , additionally comprising automated means for dissemination of information, such as the price, regarding the trade in said instrument.
4 . An automated system for retrieval and compilation of information regarding financial instruments, said system comprising an automated retrieval unit and an automated storage unit, said units automatically retrieving and storing, respectively, the prices of a predefined number of financial instruments at predefined intervals in time, the system in addition comprising automated interface means and calculation means for letting a user in interaction with the system define a price to be calculated by the calculation means, the definition including the instrument for which the price is to be calculated and data to be given by the calculation, said data comprising at least one of the following group of parameters:
the maximum price between two user defined points in time;
the minimum price between said two user defined points in time;
the average price between said two user defined points in time;
5 . The system of claim 4 , in which the user can, by means of the interface function, define how said average price is to be calculated, expressed as a choice between a number of predefined methods.
6 . The system of claim 5 , in which the user can also define, by means of the interface function, at what points in time the data to be used for the calculation of the average price should come from, expressed as a number of predefined choices.
7 . A method for trading in one or several financial instruments in an automated system for financial trading, the method comprising automated calculation of the price of an instrument which has been agreed upon between a first party, a seller, and a second party, a buyer, the method additionally comprising using automated means for the steps of:
enabling the first and the second party to define the instrument which is to be traded,
retrieving data regarding the instrument,
using said retrieved data to calculate a price for the instrument, and
storing said calculated prices.
8 . The method of claim 7 , according to which the data retrieved is data regarding the components underlying the instrument of the trade.
9 . The method of claim 7 , additionally comprising the step of using automated means for dissemination of information, such as the price, regarding the trade in said instrument.
10 . A method for the retrieval and compilation of information regarding financial instruments in an automated system for financial trading, said method comprising automated retrieval and automated storage, respectively, of the prices of a predefined number of financial instruments at predefined intervals in time, the method in addition comprising automated interaction with a user of said system, so that a user can define a price to be calculated by the system, the definition including the instrument for which the price is to be calculated and output data to be given by the calculation, said output data comprising at least one of the following group of parameters:
the maximum price between two user defined points in time;
the minimum price between said two user defined points in time;
the average price between said two user defined points in time;
11 . The method of claim 10 , including the step of letting the user, by means of said interaction, define how said average price is to be calculated, expressed as a choice between a number of predefined methods.
12 . The method of claim 11 , including the step of letting a user also define, by means of said interaction, the points in time from which the data to be used for the calculation of the average price should come from, expressed as a number of predefined choices.