Method and system for collecting and using market data from various sources
A system and a method for collecting and using market data. The system includes a workstation, where at least one message is entered, a transmitter, where the at least one message is transmitted, a parser for parsing the at least one message, a data recognizer for identifying relevant information in the at least one message, a processor for extracting the relevant information and a communicator for communicating the relevant information.
1. A system for collecting and using market data for submission to an exchange for clearing, the system comprising:
at least one computing device comprising code that when executed generates:
an interface that receives text generated by a user, the text comprised of structures and quotes on structures, each structure comprised of component parts;
a market data recognition component that recognizes the structures and quotes in the text independent of at least one of an arrangement of the text, attributes of the text and information included in the text;
a pricing, component that breaks down each structure into its component parts, calculates a relative value for each component part, and allocates the relative value to each component part;
a mapping component that maps each component part to an equivalent exchange product suitable for clearing; and
a submission component that submits each mapped component part to the exchange for clearing.
2. The system of claim 1 , wherein the component parts comprise at least one of a Future, forward, swap, spread, call, put, or swaption.
3. The system of claim 1 , wherein the relative value, of each component part is based on at least one of a price of the structure and real-time market data.
4. The system of claim 1 , wherein text generated by a user is created in at least one of (i) a text message; (ii) an instant message; or (iii) a quote interface operable to input and define structures and/or quotes.
5. The system of claim 1 , wherein the user is a subscriber or a non-subscriber.
6. The system of claim 1 , wherein the market data recognition component converts each recognized structure and quote into a system-usable, normalized structure and quote.
7. The system of claim 1 , wherein an aggregate structure of component parts and a relationship between the aggregate structure and the component parts is maintained in a searchable format.
8. The system of claim 7 , wherein the aggregate structure and the relationship between the aggregate structure and the component parts are exportable to one or more of a data collection system, a database, a trading system, a risk management system, and an exchange.