System and method for dynamically regulating order entry in an electronic trading environment
View Patent ↗A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.
1. A method for submitting orders for a tradeable object, comprising:
detecting, via a processor, a first user-selected condition; and
applying, via the processor, a dynamically modifiable pay-up tick to an offset order for a spread order, where the dynamically modifiable pay-up tick is dynamically modified in response to detecting the first selected condition.
2. The method of claim 1 where applying the pay-up tick comprises setting a price for the offset order.
3. The method of claim 1 where the first selected condition is based on market data.
4. The method of claim 1 where the first selected condition is based on at least one equation including a plurality of user-defined variables.
5. The method of claim 1 where the first selected condition comprises a trader-performance based condition.
6. The method of claim 1 where the pay-up tick is maintained until a second selected condition is detected.
7. The method of claim 1 further comprising:
detecting, via the processor, a second selected condition;
modifying, via the processor, the pay-up tick in response to detecting the second condition to a modified pay-up tick; and
applying, via the processor, the modified pay-up tick to a further offset order for the spread order subsequent to detecting the second selected condition.
8. A non-transitory computer readable medium having instructions stored thereon that when executed by a processor cause the processor to carry out acts comprising:
detecting, via a processor, a first user-selected condition; and
applying, via the processor, a dynamically modifiable pay-up tick to an offset order for a spread order, where the dynamically modifiable pay-up tick is dynamically modified in response to detecting the first selected condition.
9. The non-transitory computer readable medium of claim 8 where applying the pay-up tick comprises setting a price for the offset order.
10. The non-transitory computer readable medium of claim 8 where the first selected condition is based on market data.
11. The non-transitory computer readable medium of claim 8 where the first selected condition is based on at least one equation including a plurality of user-defined variables.
12. The non-transitory computer readable medium of claim 8 where the first selected condition comprises a trader-performance based condition.
13. The non-transitory computer readable medium of claim 8 where the pay-up tick is maintained until a second selected condition is detected.
14. The non-transitory computer readable medium of claim 8 where the acts further comprise:
detecting, via the processor, a second selected condition;
modifying, via the processor, the pay-up tick in response to detecting the second condition to a modified pay-up tick; and
applying, via the processor, the modified pay-up tick to a further offset order for the spread order subsequent to detecting the second selected condition.