Systems and methods to implement an exchange messaging policy
Systems for and methods of evaluating messaging, comprising, receiving, via at least one server device, one or more messages, and said at least one server device processing at least one of the one or more messages by grading content included in said at least one message, applying a weighting factor to said at least one message according to said grading, thereby determining a weighted message count for said at least one message, aggregating the weighted message count for said at least one message, and initiating an action if the aggregated weighted message count meets or exceeds a predetermined count threshold.
1. A system comprising:
a non-transitory memory storing instructions; and
one or more processors executing the instructions for:
receiving one or more electronic messages from one or more client terminals over at least one network, the one or more electronic messages including exchange activity data;
categorizing the one or more electronic messages by one or more predetermined categories, based on the exchange activity data;
grading content in a portion of the one or more electronic messages by comparing at least a portion of the exchange activity data in the one or more electronic messages to a predetermined metric in accordance with the one or more predetermined categories; and
initiating an action in response to the grading of said portion of the one or more electronic messages, the action affecting future messages for the one or more client terminals when the predetermined metric is met and maintaining messaging for the one or more client terminals when the predetermined metric is not met.
2. The system of claim 1 , wherein the action comprises one or more of assessing a financial penalty, increasing a messaging cost, suspending of future messaging privileges, generating and transmitting a report relating to the grading, and generating and transmitting a notice.
3. The system of claim 1 , wherein the grading is performed when a total number of the one or more electronic messages meets or exceeds a predetermined message threshold.
4. The system of claim 1 , wherein the one or more processors are further configured for grading only the portion of the one or more electronic messages pertaining to the one or more predetermined categories that have received over a predetermined number of messages.
5. The system of claim 1 , wherein the one or more processors are further configured for:
applying a weighting factor to the one or more electronic messages to determine a weighted message count for the one or more electronic messages; and
aggregating the weighted message count for the one or more client terminals.
6. The system of claim 5 , wherein the action is initiated when the aggregated weighted message count meets or exceeds a predetermined count threshold.
7. The system of claim 5 , wherein when the grading results in the weighting factor being zero, the weighted message count comprises zero.
8. The system of claim 5 , wherein, as part of said grading, the one or more processors are further configured for:
assigning a grading value to the one or more electronic messages based on the comparing, wherein the grading value is used to determine the weighting factor.
9. The system of claim 8 , wherein the comparing of the at least the portion of the exchange activity data to the predetermined metric comprises determining a proximity between the at least the portion of the exchange activity data and the predetermined metric, and wherein the grading value is based on the proximity.
10. The system of claim 5 , wherein the one or more processors are further configured for:
calculating a divisor representative of a quality of the one or more electronic messages;
dividing the aggregated weighted message count by the divisor to determine a ratio; and
initiating the action when the ratio meets or exceeds a predetermined ratio threshold.
11. The system of claim 1 , wherein the exchange activity data comprise one or more of market order data, bid data, offer data, order revision data, hold order data, cancel and replace order data, trade consummation data, and cancel order data.
12. The system of claim 1 , wherein the at least the portion of the exchange activity data comprises price data and the predetermined metric comprises one or more of a live market price and a predetermined numeric scale.
13. The system of claim 1 , wherein the one or more predetermined categories include one or more commodities markets.
14. The system of claim 1 , wherein the one or more processors are further configured for:
calculating a total number of executed lots resulting from the one or more electronic messages;
dividing an aggregated weighted message count by the total number of executed lots to determine a ratio; and
initiating the action when the ratio meets or exceeds a predetermined ratio threshold.
15. The system of claim 1 , wherein the one or more processors are further configured for:
calculating a total number of executed trades resulting from the one or more electronic messages;
dividing an aggregated weighted message count by the total number of executed trades to determine a ratio; and
initiating the action if the ratio meets or exceeds a predetermined ratio threshold.
16. The system of claim 1 , wherein the one or more client terminals comprise one or more of a personal computer (PC), a mobile communication device, a smart phone, a computer server, a personal device assistant (PDA), a kiosk, an automatic teller machine (ATM), a wireless fidelity (Wi-Fi) access point, a router, a database device, a multi-media device, and a gaming device.