Granted Patent B2

US 8,577,780 · App. 12/134,923 · Granted Nov 5, 2013

Abstract

Claims (12)

1. A system for routing an indication of interest message for a financial instrument, comprising:

a first computer element coupled to a program memory to store software, the first computer element communicatively associated with one or more trade messaging systems, the first computer element programmed by software stored in the program memory of the first computer element such that the first computer element is configured to receive trade activity information from the one or more trade messaging systems relating to a history of trading activity of a plurality of trading counterparties;

a database memory coupled to the first computer element, the database memory configured to store a database for storing the information relating to the history of trading activity of the plurality of trading counterparties to generate on a substantially real time basis a buyer listing for the financial instrument and a seller listing for the financial instrument; and

a second computer element coupled to a program memory and coupled to the database memory, the second computer element configured to be communicatively associated with the database and with at least one user computer, the second computer element programmed by software utilizing a data analyzer module, which module is configured to update the database memory based on an analysis of aggregated weighted historical data associated with at least one of the plurality of trading counterparties and the financial instrument to determine which counterparties of the plurality of trading counterparties are likely to have a trading posture that is contra to a buy or sell indication indicated in the indication of interest message, the second computer element also programmed by software stored in the program memory of the second computer element such that the second computer element is configured to receive the indication of interest message from the at least one user computer and route communication of the indication of interest message to at least one of the plurality of trading counterparties where the analysis indicates that said at least one trading counterparty is contra to the received buy or sell indication based at least in part on the analysis performed by the data analyzer module, the buyer listing and the seller listing and wherein the aggregated historical data comprises a weighting factor for each day of a predetermined number of days for which information relating to the history of trading activity is stored.

2. The system of claim 1 , wherein at least one of the trade messaging systems is external to the system.

3. The system of claim 1 , wherein at least one of the trade messaging systems is integral to the system.

4. The system of claim 1 , wherein the information related to the history trading activity includes at least one trade execution record.

5. The system of claim 1 , wherein the information includes at least one trade inquiry message.

6. The system of claim 1 , wherein the weighting factor is calculated at least in part, with reference to the financial instrument, and an age of the trading activity.

7. The system of claim 1 , wherein the weighting factor is calculated based in part on an average daily volume value for the financial instrument.

8. The system of claim 1 , wherein the weighting factor is inversely proportional to an average daily volume value for the financial instrument.

9. The system of claim 1 , wherein the data analyzer module of the second computer element determines a trading posture for a least one of the plurality of trading counterparties based in part on a sum of the trading activity for the at least one of the plurality trading counterparties as weighted using the weighting factor.

Assignments (11)