System and method for automatic trading of foreign exchange currencies
View Patent ↗A method for automatic trading of foreign exchange currencies including the steps of: receiving first signals at an order receiver based on one or more orders for foreign exchange currency trades; sending second signals from an order configuration tool that provides for selection of a preferred execution method for each of the foreign exchange trades using an algorithm; and executing each of the foreign exchange trades based on received third signals relating to a respective determined preferred execution method.
1. A method comprising the steps of:
receiving order data at one or more processors, the order data related to one or more order parameters of one or more foreign exchange currency trades;
generating using the one or more processors configuration data, the configuration data related to configuration of each of the one or more trades; and
automatically executing using the one or more processors each of the one or more trades based on the order data and the configuration data in two or more clips.
2. The method of claim 1 , wherein each of the one or more parameters is selected from the group of parameters consisting of: currency for target position, counter currency, value date, quote size, spot limit, target position, and execution style.
3. The method of claim 2 , wherein at least one of the one or more parameters is execution style, and the execution style is selected from the group of execution styles consisting of: limit, volume weighed average price, and time weighted average price.
4. The method of claim 3 , wherein the execution style is further defined by at least one execution style information element selected from the group of execution style information elements consisting of: user-input name for the execution style, spread factor, time interval between clips, and clip size.
5. The method of claim 1 , wherein the one or more parameters are selected from a list of one or more pre-defined parameters.
6. The method of claim 4 , wherein the at least one execution style information element is clip size, and the clip size is fixed.
7. The method of claim 4 , wherein the at least one execution style information element is clip size, and the clip size is varying.
8. The method of claim 4 , wherein at least one execution style information element is clip interval, and the clip interval is fixed.
9. The method of claim 4 , wherein the at least one execution style information element is clip interval, and the clip interval is varying.
10. The method of claim 1 , further comprising keeping the one or more orders anonymous until the one or more trades are executed.
11. The method of claim 1 , further comprising providing a visual indicator of spread size.
12. The method of claim 1 , further comprising providing a security feature that prevents trade execution within an illiquid foreign exchange market.
13. The method of claim 12 , wherein the step of providing a security feature comprises generating an alert when a plurality of orders for an identical foreign exchange trade is received.
14. A system comprising:
one or more processors; and
a computer readable medium having instructions executable by the one or more processors for performing a method comprising the steps of:
receiving order data at the one or more processors, the order data related to one or more order parameters of one or more foreign exchange currency trades;
generating using the one or more processors configuration data, the configuration data related to configuration of each of the one or more trades; and
automatically executing using the one or more processors each of the one or more trades based on the order data and the configuration data in two or more clips.
15. The system of claim 14 , wherein each of the one or more parameters is selected from the group of parameters consisting of: currency for target position, counter currency, value date, quote size, spot limit, target position, and execution style.
16. The system of claim 15 , wherein at least one of the one or more parameters is execution style, and the execution style is selected from the group of execution styles consisting of: limit, volume weighed average price, and time weighted average price.
17. The system of claim 16 , wherein the execution style is further defined by at least one execution style information element selected from the group of execution style information elements consisting of: user-input name for the execution style, spread factor, time interval between clips, and clip size.
18. The system of claim 14 , wherein the one or more parameters are selected from a list of one or more pre-defined parameters.
19. The system of claim 17 , wherein the at least one execution style information element is clip size, and the clip size is fixed.
20. The system of claim 17 , wherein the at least one execution style information element is clip size, and the clip size is varying.
21. The system of claim 17 , wherein at least one execution style information element is clip interval, and the clip interval is fixed.
22. The system of claim 17 , wherein the at least one execution style information element is clip interval, and the clip interval is varying.
23. The system of claim 14 , further comprising keeping the one or more orders anonymous until the one or more trades are executed.
24. The system of claim 14 , further comprising providing a visual indicator of spread size.
25. The system of claim 14 , further comprising providing a security feature that prevents trade execution within an illiquid foreign exchange market.
26. The system of claim 25 , wherein the step of providing a security feature comprises generating an alert when a plurality of orders for an identical foreign exchange trade is received.
27. A system comprising:
an order receiver that receives one or more order parameters of one or more foreign exchange currency trades;
an order configuration tool that configures each of the one or more trades; and
an order executor that generates instructions for automatically executing each of the configured one or more trades in two or more clips.
28. The system of claim 27 , wherein each of the one or more parameters is selected from the group of parameters consisting of: currency for target position, counter currency, value date, quote size, spot limit, target position, and execution style.
29. The system of claim 28 , wherein at least one of the one or more parameters is execution style, and the execution style is selected from the group of execution styles consisting of: limit, volume weighed average price, and time weighted average price.
30. The system of claim 29 , wherein the execution style is further defined by at least one execution style information element selected from the group of execution style information elements consisting of: user-input name for the execution style, spread factor, time interval between clips, and clip size.
31. The system of claim 27 , wherein the one or more parameters are selected from a list of one or more pre-defined parameters.
32. The system of claim 30 , wherein the at least one execution style information element is clip size, and the clip size is fixed.
33. The system of claim 30 , wherein the at least one execution style information element is clip size, and the clip size is varying.
34. The system of claim 30 , wherein at least one execution style information element is clip interval, and the clip interval is fixed.
35. The system of claim 30 , wherein the at least one execution style information element is clip interval, and the clip interval is varying.
36. The system of claim 27 , further comprising a graphical user interface comprising a visual indicator of spread size.
37. The system of claim 27 , further comprising a security feature that prevents trade execution within an illiquid foreign exchange market.