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`IN THE UNITED STATES PATENT AND TRADEMARK OFFICE
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`Attorney Docket No. 02405110135
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`In re patent application of
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`Gary Alan KEMP 11, et al. Serial No: 09/590,692
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`33:;
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`Group Art Unit: 2761
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`RECEIVED
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`mi; 2 4 2003
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`Group 2700
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`Filed: June 9, 2000
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`Examiner: Unassigned
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`For: CLICK BASED TRADING WITH INTUITIVE GRID DISPLAY OF MARKET
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`DEPTH
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`PETITION TO MAKE SPECIAL UNDER 37 CFR 1.102 d
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`Assistant Commissioner for Patents
`Washington, D.C. 20231
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`Sir:
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`Pursuant
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`to 37 C.F.R.
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`§1.102 and M.P.E.P. 708.02 VIII
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`(SPECIAL
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`EXAMINING PROCEDURE
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`FOR CERTAIN NEW APPLICATIONS—
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`ACCELERATED EXAMINATION), Applicants hereby request
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`that
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`the above—
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`Icaptioned application be granted special status and examined expeditiously.
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`In support
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`of this Petition, Applicants
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`submit
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`the following under
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`lettered headings
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`that
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`correspond with the lettered paragraphs of M.P.E.P. 708.02 VIII.
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`(A)
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`Petition and Fee Submitted
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`This Petition is supported by the enclosed check in the amount of $130, which
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`covers the required petition fee (37 C.F.R. §1.17(i)). Please charge any deficiency or
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`credit any overpayment to our Deposit Account No. M.
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`(B)
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`Single Invention Claimed
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`Applicants believe that all of the claims of the present application are directed
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`to a single invention.
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`‘
`meow. Ill-I151? 90000013, 09590692
`01-“:122
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`130.00 0P
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`0013741111
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`TDA 1011
`TDA 1011
`CBM of U.S. Pat. No. 7,676,411
`CBM of US. Pat. No. 7,676,411
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`Serial No. 09/590,692
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`Docke't'No. 024051f0135
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`(C)
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`Pre—Examination Search Made
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`A pro-examination search was conducted by a professional patent search firm.
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`The search was conducted in the following areas of classification: Class 340, Subclass
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`825.27, Class 705, Subclasses 35-37.
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`In addition, a key word search was performed
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`on the U.S. Patent and Trademark Office Automated Patent System (APS) computer
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`database.
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`(D)
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`Copies of References
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`From the search results, Applicants have identified the references most
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`closely related to the subject matter encompassed by the claims of the present
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`application: U.S. Patent No. 5,077,665 to Silverman et al.
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`(‘665 patent), U.S.
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`Patent No. 5,136,501 to Silverman et al.
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`(‘501 patent) and U.S. Patent No.
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`5,963,923 to Garber (‘923 patent). Copies of these references have been attached
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`and are discussed herein as mandated by MPEP 708.02.
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`Other
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`references
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`discovered during the search,
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`less relevant than those discussed herein, have been
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`submitted concurrently herewith in an Information Disclosure Statement.
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`(E)
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`Detailed Discussion of References and Patentability of Claimed Invention
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`Specifically, the present invention is directed to a graphical user interface for
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`displaying the market depth of a commodity traded in a market, including a dynamic
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`display for a plurality of bids and for a plurality of asks in the market for the
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`commodity and a static display of prices corresponding to the plurality of bids and
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`asks. The pluralities of bids and asks are dynamically displayed in alignment with
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`the prices corresponding thereto (see, c. g. claims 1, 8 and 15).
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`The present
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`invention, as claimed,
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`is also directed to a method and system for placing trade
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`orders with preset parameters using such displays. Trade orders of the commodity
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`are initiated through a single action of a user input device with a pointer of the user
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`input device positioned over an area in the dynamic displays of bids and asks. The
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`Serial No. 09/590,692
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`Docket No. 02405130135
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`coutents of the trade order are based, in part, upOn the preset parameters and the
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`position of the pointer at the time of the single action (see 6. g. claims 22, 29 and
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`35).
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`By allowing the trader to see the dynamic market depth of a commodity and
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`to trade directly within the market depth of that commodity, the invention provides
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`the trader with improved versatility and efficiency in placing, and thus executing,
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`trade orders for commodities in an electronic exchange. The intuitive grid display
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`. and trading method of the present invention ensure fast and accurate execution of
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`trades by displaying market depth on a vertical or horizontal plane, which fluctuates
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`logically up or down, left or right across the plane as the market prices fluctuates.
`This allows the trader to trade quickly and efficiently. Furthermore, as described in
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`the specification, if a trader intends to enter an order at a particular price, but misses
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`the price because the market prices moved before he could enter the order, he may -
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`lose money. The faster a trader can trade, the less likely it will be that he will miss
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`his price and the more likely he will make money. The static price display against
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`which the dynamic displays of bids and asks are aligned assists the trader in this
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`regard.
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`U.S. Patent No. 5,077,665 to Silverman et al. entitled “Distributed Matching
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`System” and U.S. Patent No. 5,136,501 to Silverman et al. entitled “Anonymous
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`Matching System” have similar disclosures and describe matching systems wherein
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`bids and offers for a given trading instrument are automatically matched to complete
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`trades.
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`Subsets of a system trading book are provided to trading stations
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`(keystations) for controllably masking the available trading market for the given
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`trading instrument. A host computer in the system maintains a host book data base
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`which has all of the active bids and offers in the system. The keystations have their
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`own keystation books which comprise a subset of the host book. For a given trading
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`instrument, the keystation books can comprise accumulated summaries of the bids at
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`a common price and the offers at a common price. Figure 4 of the references
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`illustrates the central system book (host book) for a given trading instrument. This
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`figure and the corresponding description in columns 7 and 8 of the ‘665 patent and
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`columns 9 and 10 of the ‘501 patent appear to disclose that the central system book
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`contains lists of a plurality of bids and offers arranged in order of absolute value
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`along a vertical axis and in time order along a horizontal axis. Figure 5 of the
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`references illustrates a typical keystation book for the same trading instrument. This
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`figure and the corresponding description in columns 8 and 9 of the ‘665 patent and
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`columns 10 and 11 of the ‘501 patent appear to disclose that the keystation book
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`contains lists of a plurality of bids and offers in order of absolute value along a
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`vertical axis, similar to the central station book.
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`It also appears to disclose that the
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`number of bids and offers displayed is limited and that the quantities corresponding
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`to the bids and offers for a common price are accumulated instead of being
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`displayed in time order.
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`The present invention, as claimed,
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`is patentable over the Silverman et al.
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`references. As described above, the present invention includes a dynamic display
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`for a plurality of bids and for a plurality of asks in the market for a given
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`commodity and a static display of prices corresponding to the plurality of bids and
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`asks for the commodity.
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`In the present
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`inventibn,
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`the dynamic nature of the
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`plurality of bids and asks is such that the lists of bids and asks move along the axis
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`of the static price listing (e. g. up and down). The pluralities of bids and asks are
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`thus dynamically displayed in alignment with the prices corresponding thereto.
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`While it appears that both the central system book and the keystation book of
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`the Silverman et al. references show a plurality of bids and asks for a given traded
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`commodity, in contrast to the present invention, the references disclose that these
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`pluralities are displayed “dynamically” only in the sense that the bids and offers are
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`updated. For example, figure 5 shows the best three .bids and offers; presumably
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`this display is updated as the best bids and offers change. There is no disclosure
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`that the listings of bids and asks actually move along any axis.
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`Furthermore, unlike the present inventiOn, neither the central system book
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`nor the keystation book of the Silverman et a1. references includes a static display of
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`prices corresponding to a plurality of bids and asks for a traded commodity. There
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`being no static display of prices,
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`the references also do not disclose that
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`the
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`pluralities of bids and asks are dynamically displayed in alignment with the prices
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`corresponding thereto. As discussed above, there is a distinct importance to having
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`a static display of prices in the present invention. For example, if a trader intends to
`enter an order at a particular price, but misses the price because the market prices
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`moved before he could enter the order, he may lose money. Having a static price
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`display against which the dynamic (moving) displays of bids and asks are aligned
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`assists the trader in this regard.
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`As discussed above,
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`the present invention, as claimed,
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`is also directed to a
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`method and system for placing trade Orders with preset parameters using such
`displays. Trade orders of the connnodity are initiated through a single action of a
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`user input device with a pointer of the user input device positioned over an area in
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`the dynamic displays of bids and asks. The contents of the trade order are based in
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`part upon the preset parameters and the position of the pointer at the time of the
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`' single action. There is no disclosure or teaching in the Silverman et a1. references
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`of such single action trading nor is there any disclosure or teaching of single action
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`trading in the market depth of a commodity using displays representing the
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`keystation hook shown in figure 5 or even the central station book shown in figure
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`4.
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`In view of the fact that Silverman et a1. references fail to disclose or teach
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`various elements of the claimed invention, for at least the reasons set forth above,
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`Serial No. 09/590,692 I
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`Applicants respectfully submit that the Silverman et a1. references do not render the
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`claims of the present application unpatentable.
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`US. Patent No. 5,963,923 to Garber (‘923 patent), entitled “System and
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`Method for Trading Having a Principal Market Maker," describes a system for
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`trading international currencies. While less relevant to the claims of the present
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`invention than the Silverman et 31. references discussed above,
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`this reference is
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`considered herein for its “PMM Inventory Delta Screen” 78 shown in Figure 8.
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`This display has relevance to a Primary Market Maker (PMM) application and
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`allows an inventory position and corresponding risk to be known at all times (see
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`generally, col. 9, lines 15-52). Accordingly,
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`it apparently can be said to show a
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`dynamic representation of inventory and risk.
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`The Garber reference, however, does not Show a dynamic display of a
`plurality of bids and a plurality of asks in the market for a given commodity.
`It
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`does not show a static display of prices corresponding to the plurality of bids and
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`asks.
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`It does not show that a pluralities of bids and asks are dynamically displayed
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`in alignment with the prices corresponding thereto.
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`It further does not show a
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`trading method and system for use with such display. These being required claim
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`elements of present invention, Applicants respectfully submit that the claims are
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`patentable over the Garber reference.
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`I/
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`" SerialNo. 0959045 .
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`Book!No. 024051l0135
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`Inasmuch as all of the requirements for special status under M.P.E.P. 708.02
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`VIII have been met, it is respectfully requested that the application be granted special
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`status, and be examined expeditiously.
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`Respectfully submitted,
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`Ai—OOZC
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`Ankur D. Shah
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`Registration No. 41,514
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`flaéosr 2!, 20oz)
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`Date
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`FOLEY & LARDNER
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`3000 K Street, NW.
`Suite 500
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`Washington, D.C. 20007-5109
`Telephone No.: (202) 672-5300
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`0023241111
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`