Controlling an order slicer for trading a financial instrument
In one aspect, the present invention provides an order slicer that receives an order that to trade a financial instrument. The order associates a trading strategy with said order. The trading strategy is replaceable. In another aspect, an interface accepts a trading strategy of an order to trade a financial instrument. A transmitter transmits the trading strategy to an order slicer.
1. A securities transaction method comprising:
capturing real-time market data of a financial instrument to calculate an expected trading rate approximation;
displaying to a trader a price and said expected trading rate approximation of said financial instrument;
accepting from said trader a trading order type, order volume, order start time and order stop time for said financial instrument;
displaying an interface for said trader to indicate a change of replaceable trading strategy by use of a single indicia and receiving said single indicia to change said replaceable trading strategy;
calculating, by an order slicer processor, a target trading rate based on a fixed percentage of said expected trading rate approximation and said replaceable trading strategy provided by said trader as a single indicia;
displaying to said trader said target trading rate;
slicing and selling a portion of a total volume of trades for said financial instrument based on said target trading rate; and
displaying to said trader one or more results of said sales of said financial instrument.
2. The securities transaction method of claim 1 , further comprising:
providing to said trader one or more opportunities to modify one or more trading parameters prior to completion of selling said financial instrument.
3. The securities transaction method of claim 2 , further comprising:
recalculating said target trading rate based on said sales of said portions, said real-time market data and said single indicia.