System and Method for Randomizing Orders in an Electronic Trading Environment
When a trading application on a client terminal receives a trade order, a randomizer application may automatically randomize one or more order parameters to generate a randomized order. For example, an order quantity, a price level, and/or a time period between sending any two consecutive orders may be randomized. The randomized order is then automatically placed on the market.
1 . (canceled)
2 . A system for automatically submitting an order from a client terminal to an electronic exchange in an electronic trading environment, the system comprising:
a client terminal,
wherein the client terminal is configured to receive from a user, via a graphical user interface of the client terminal, an order request to submit from the client terminal to an electronic exchange, an order to trade a quantity of a tradable object at a price; and
wherein the client terminal is configured to, prior to submitting the order request from the client terminal to the electronic exchange, analyze the order request to determine whether the order request is to be randomized based on the order parameters,
wherein, in response to determining at the client terminal that the order request is not to be randomized, the client terminal is configured to submit the order request in an original format to the electronic exchange to trade the quantity of the tradable object at the price, and
wherein, in response to determining at the client terminal that the order request is to be randomized, the client terminal is configured to:
select at least one of a plurality of order randomization applications to be applied to the order request,
determine whether at least one predetermined randomization parameter applies to the at least one of a plurality of randomization applications,
execute the at least one of the plurality of order randomization applications, the at least one of a plurality of order randomization applications being applied to the order request to generate a plurality of randomized orders, where the plurality of randomized orders is generated by applying at least one of a standard set of randomization parameters to the order request in response to determining that no predetermined randomization parameter applies to the order request and applying the at least one predetermined randomization parameter to the order request in response to determining that the at least one predetermined randomization parameter applies to the order request, and
submit the plurality of randomized orders to the electronic exchange.
3 . The system of claim 2 , wherein the client terminal is further configured to select the at least one of the plurality of randomization applications according to a user-defined criteria.
4 . The system of claim 3 , where the at least one of the plurality of randomization applications is selected based on any of an order type, a time of day, and combinations thereof.
5 . The system of claim 2 , wherein the client terminal is further configured to receive from the user the predetermined randomization parameter.
6 . The system of claim 5 , where the predetermined randomization parameter is configurable.
7 . The system of claim 5 , where the predetermined randomization parameter comprises at least one number.
8 . The system of claim 5 , where the predetermined randomization parameter comprises at least one percentage value.
9 . The system of claim 5 , where applying the at least one of the plurality of order randomization applications comprises applying the predetermined randomization parameter to at least one of the quantity and the price to generate the plurality of randomized orders.
10 . The system of claim 2 , where the order request comprises a plurality of orders.
11 . The system of claim 2 , where each of the plurality of randomized orders comprises a market order.