Methods and systems related to trading engines
At least one other exemplary aspect comprises a method comprising: (a) receiving electronic data describing a trading order; (b) receiving data describing a selection of one or more first trading algorithms from available stored algorithms for execution of the trading order; (c) commencing execution of the trading order via the one or more first trading algorithms; (d) evaluating, during the execution, execution performance of the trading order via the first trading algorithms; (e) comparing the evaluated execution performance to one or more pre-defined conditions; and (f) if the evaluated execution performance fails to satisfy the pre-defined conditions, switching execution of the trading order to one or more second trading algorithms. In an exemplary embodiment, data describing at least one of the pre-defined conditions is received in connection with the electronic data describing a trading order. Related systems and software are comprised in other aspects.
1. A method comprising:
(a) receiving electronic data describing a trading order;
(b) receiving data describing a selection of one or more first trading algorithms from a plurality of available stored algorithms for execution of said trading order;
(c) commencing with a processing system execution of said trading order via said one or more first trading algorithms;
(d) evaluating with said processing system, during said execution, execution performance of said trading order via said one or more first trading algorithms;
(e) comparing with said processing system said evaluated execution performance to one or more pre-defined conditions; and
(f) if said evaluated execution performance fails to satisfy one or more of said one or more pre-defined conditions, switching with said processing system execution of said trading order to one or more second trading algorithms, wherein said processing system comprises one or more processors.
2. A method as in claim 1 , wherein data describing at least one of said one or more pre-defined conditions is received in connection with said electronic data describing a trading order.
3. A method as in claim 1 , wherein one or more of said set of pre-defined conditions relate to parameters of trading orders.
4. A method as in claim 1 , wherein one or more of said set of pre-defined conditions relate to current market conditions.
5. A method as in claim 1 , wherein one or more of said set of pre-defined conditions relate to trading patterns of a market participant placing said trading order.
6. A method as in claim 1 , wherein one or more of said set of pre-defined conditions relate to a measure of market impact or projected market impact of said trading order.
7. A method as in claim 1 , wherein one or more of said set of pre-defined conditions relate to a securities sector for a security related to said trading order.
8. A method as in claim 1 , wherein one or more of said set of pre-defined conditions relate to a measurement relative to a benchmark.
9. A method as in claim 1 , wherein one or more of said set of pre-defined conditions relate to identity of a portfolio manager placing said trading order.
10. An apparatus comprising a non-transitory computer readable medium storing software that performs a method comprising the method of claim 1 .
11. An apparatus comprising a non-transitory computer readable medium storing software that performs a method comprising the method of claim 2 .
12. A computer system comprising one or more processor components, said system comprising:
(a) a communication component that receives electronic data describing a trading order;
(b) a communication component that receives data describing a selection of one or more first trading algorithms from a plurality of available stored algorithms for execution of said trading order;
(c) an execution component that commences execution of said trading order via said one or more first trading algorithms;
(d) an evaluation component that evaluates, during said execution, execution performance of said trading order via said one or more first trading algorithms;
(e) a comparison component that compares said evaluated execution performance to one or more pre-defined conditions; and
(f) a switching component that, if said evaluated execution performance fails to satisfy one or more of said one or more pre-defined conditions, switches execution of said trading order to one or more second trading algorithms.
13. A computer system as in claim 12 , wherein data describing at least one of said one or more pre-defined conditions is received in connection with said electronic data describing a trading order.
14. A computer system as in claim 12 , wherein one or more of said set of pre-defined conditions relate to parameters of trading orders.
15. A computer system as in claim 12 , wherein one or more of said set of pre-defined conditions relate to current market conditions.
16. A computer system as in claim 12 , wherein one or more of said set of pre-defined conditions relate to trading patterns of a market participant placing said trading order.
17. A computer system as in claim 12 , wherein one or more of said set of pre-defined conditions relate to a measure of market impact or projected market impact of said trading order.
18. A computer system as in claim 12 , wherein one or more of said set of pre-defined conditions relate to a securities sector for a security related to said trading order.
19. A computer system as in claim 12 , wherein one or more of said set of pre-defined conditions relate to a measurement relative to a benchmark.
20. A computer system as in claim 12 , wherein one or more of said set of pre-defined conditions relate to identity of a portfolio manager placing said trading order.