(12) United States Patent
`Buist
`
`111111
`
`1111111111111111111111111111111111111111111111111111111111111
`US006408282Bl
`US 6,408,282 Bl
`Jun.18,2002
`
`(10) Patent No.:
`(45) Date of Patent:
`
`(54) SYSTEM AND METHOD FOR CONDUCTING
`SECURITIES TRANSACTIONS OVER A
`COMPUTER NETWORK
`
`Primary Examiner-Tariq R. Hafiz
`Assistant Examiner---Romain Jeanty
`(74) Attorney, Agent, or Firm---Pennie & Edmonds LLP
`
`(75)
`
`Inventor: Walter D. Buist, Hasbrouck Heights,
`NJ (US)
`
`(73) Assignee: Wit Capital Corp., New York, NY
`(US)
`
`( *) Notice:
`
`Subject to any disclaimer, the term of this
`patent is extended or adjusted under 35
`U.S.C. 154(b) by 0 days.
`
`(21) Appl. No.: 09/292,553
`Apr. 15, 1999
`
`(22) Filed:
`
`Related U.S. Application Data
`(60) Provisional application No. 60/122,208, filed on Mar. 1,
`1999.
`Int. Cl? ................................................ G06F 17/60
`(51)
`(52) U.S. Cl. ............................................ 705/37; 705/36
`(58) Field of Search ...................................... 705/36, 37
`
`(56)
`
`References Cited
`
`U.S. PATENT DOCUMENTS
`3,573,747 A * 4/1971 Adams ........................ 705/37
`(List continued on next page.)
`
`EP
`WO
`WO
`WO
`
`FOREIGN PATENT DOCUMENTS
`0407026 A2 * 9/1991
`* 3/1995
`W09506918
`* 10/1996
`W09634357
`* 11/1998
`W09852133
`
`OTHER PUBLICATIONS
`
`"Morgan Stanley Deploys Black Box Trading System"; May
`1991; Trading Systems Technology; Dialog file 636, Acces(cid:173)
`sion No. 01493468.*
`
`(57)
`
`ABSTRACT
`
`The system and method of the preferred embodiment sup(cid:173)
`ports trading of securities over the Internet both on national
`exchanges and outside the national exchanges. The preferred
`embodiment supports an improved human interface and a
`continuous display of real-time stock quotes on the user's
`computer screen. The ergonomic graphical user interface
`(GUI) of the preferred embodiment includes several func(cid:173)
`tional benefits in comparison with existing on-line consumer
`trading systems. In the preferred embodiment, the users are
`subscribers to a securities trading service offered over the
`Internet. Preferably, each subscriber to this service is simul(cid:173)
`taneously connected from his own computer to a first system
`which provides user-to-user trading capabilities and to a
`second system which is a broker/dealer system of his/her
`choice. The system providing the user-to-user trading ser(cid:173)
`vices preferably includes a root server and a hierarchical
`network of replicated servers supporting replicated data(cid:173)
`bases. The user-to-user system provides real-time continu(cid:173)
`ously updated stock information and facilitates user-to-user
`trades that have been approved by the broker/dealer systems
`with which it interacts. Users of the preferred system can
`trade securities with other users of the system. As part of this
`user-to-user trading, a user can accept a buy or sell offer at
`the terms offered or he can initiate a counteroffer and
`negotiate a trade.
`
`(List continued on next page.)
`
`7 Claims, 69 Drawing Sheets
`
`TDA 1028
`CBM of U.S. Patent No. 6,766,304
`
`

`
`US 6,408,282 Bl
`Page 2
`
`U.S. PATENT DOCUMENTS
`
`5,809,483 A
`5,873,071 A
`5,924,082 A *
`6,014,643 A *
`5,950,177 A
`6,012,046 A *
`6,243,691 B1 *
`
`9/1998 Broka et a!. .................. 705/37
`2/1999 Ferstenberg et a!. .......... 705/37
`7/1999 Silverman et a!. ............ 705/37
`7/1999 Minton ........................ 705/37
`9/1999 Lupien et a!.
`................ 705/37
`1!2000 Lupien ........................ 705/37
`6/2001 Fisher et a!. .................. 705/37
`
`01HER PUBLICATIONS
`
`Louis; "New breed of ECNs competes for market share";
`Nov. 1998; Wall Street and Technology Online Trading
`Supplement PP: 16-17; Dialog file 15, Accession No.
`01726082.*
`
`trading)
`Resnick; "Serial portfolio. (Online securities
`(including listing of products and services"; Dec. 1992;
`Computer, V14, nll, p90( 4); dialog filw 148, Accession No.
`06184981.*
`
`liquidity on the Tokyo Stock
`Lehman "Trading and
`Exchange: a bird's eye view"; Jul. 1994, Journal of Finance,
`v49, n3, p951(34); Dialog file 148, Accession No.
`0752021.*
`
`* cited by examiner
`
`

`
`U.S. Patent
`
`Jun.18,2002
`
`Sheet 1 of 69
`
`US 6,408,282 Bl
`
`42
`
`BROKER/DEALER
`SERVER & DATABASE
`
`55
`' \
`,--...L-------,
`I 50
`I
`ROOT
`I
`I
`:
`SERVER & 1-------+---;
`MASTER
`DATABASE
`I
`I
`___ L _____ l
`
`:
`I
`I
`I
`I
`
`46
`
`40
`
`INTERMEDIATE
`SERVER &
`DATABASE
`
`BROKER/
`DEALER
`SERVER &
`I
`I
`DATABASE
`44
`I
`I
`L__________ I
`~~--------~
`INTERMEDIATE
`SERVER & DATABASE
`
`42
`
`I
`:
`I
`I
`I
`I
`I
`I
`I
`I
`I
`I
`I
`I
`I
`I
`I
`I
`I
`I
`J
`
`34
`
`REPUCA
`SERVER &
`DATABASE
`
`36
`
`30
`
`30
`
`REPUCA
`SERVER &
`DATABASE
`
`REPUCA
`SERVER &
`DATABASE
`
`30
`
`12
`
`FIG.1
`
`

`
`U.S. Patent
`
`Jun.18,2002
`
`Sheet 2 of 69
`
`US 6,408,282 Bl
`
`INTERMEDIATE
`DATABASE
`
`INTERMEDIATE
`SERVER
`
`40
`
`50
`
`ROOT
`SERVER
`
`MASTER
`DATABASE
`
`50
`
`40
`
`20
`
`REPLICA
`DATABASE
`
`REPLICA
`SERVER
`
`REPLICA
`SERVER
`
`REPLICA
`DATABASE
`
`20
`
`20
`
`30
`
`REPLICA
`SERVER
`
`REPLICA
`DATABASE
`
`REPLICA
`~--~ SERVER
`20
`
`REPUCA
`DATABASE
`
`FIG.2
`
`36
`
`34
`
`

`
`U.S. Patent
`
`310)
`
`Jun.18,2002
`
`Sheet 3 of 69
`
`US 6,408,282 Bl
`
`UPDATED ORDER BOOK INFO
`IS TRANSMITIEO TO REPLICA
`SERVERS, WHICH UPDATE
`REPLICA DATABASES
`t
`366]
`EACH REPLICA SEIM:R WITH
`CONNECTED USERS WHICH
`SUBSCRIBE TO SAID ORDER
`BOOK SENDS SELLER'S
`SELL OFFER TO THOSE USERS'
`APPLICATIONS, ALONG WITH
`UPDATED ORDER BOOK INFO
`I
`
`~
`
`REPLICA SEIM:RS UPDATE REPLICA
`DATABASES AND TRANSMIT UPDATED
`INFO TO SUBSCRIBERS OF ORDER
`BOOK FOR STOCK SOLO BY
`SELLER TO DfALER
`398
`+
`~
`SELLER'S BROKER/OfALER SERVER/
`DATABASE AND BUYER'S BROKER/
`DEALER SERVER/DATABASE NOTIFY
`APPLICATIONS OF SELLER AND BUYER
`THAT TRANSACTION IS CONFIRMED, AND
`CURRENT POSITIONS AND RELATED
`DISPlAYS ARE UPDATED
`
`t
`APPLICATIONS WHICH
`3421 37Q.__
`RECEIVE SELLER'S SELL
`SELLER VIEWS ORDER
`r" OFFER DISPlAY THAT ORDER
`BOOK DISPLAY AND RELATED
`IN ORDER BOOK DISPlAY
`DISPLAYS AND FILLS IN TRADE
`t
`374)
`TICKET FOR A SELL ORDER
`BUYER SEES SELLER'S SELL
`AND SELECTS
`"ORDER
`OFFER AND ACCEPTS OFFER
`VERIFICATION"
`378) t
`t
`346__:"1
`BUYER'S BUY ORDER
`SELLER VIEWS FINAL
`(ACCEPTING SELLER'S SELL
`VERIFICATION SCREEN
`OFFER) IS TRANSMITIED TO
`AND SELECTS
`"SEND ORDER"
`BUYER'S BROKER/DEALER
`t
`SERVER/DATABASE, WITH
`3501
`SYSTEM ID OF SELLER'S OFFER
`ORDER IS TRANSMITIEO TO
`3821 t
`SELLER'S BROKER/DEALER
`SERVER/DATABASE, WHICH
`BUYER'S BROKER/DEALER
`CHECKS THAT SELLER HAS
`SERVER/DATABASE CHECKS
`SUFFICIENT SHARES IN HIS
`TO SEE THAT BUYER HAS
`ACCOUNT
`SUFFICIENT FUNDS IN HIS ACCOUNT
`386) t
`t
`354)
`SELLER'S BROKER/DEALER
`BUYER'S BROKER/DEALER
`SERVER/DATABASE SENDS
`SERVER/DATABASE SENDS
`APPROVED SELL ORDER
`APPROVAL ORDER, ALONG
`TO ROOT SERVER 50, WHICH
`WITH BUYER'S ID & SYSTEM
`ATTACHES SYSTEM ID TO ORDER,
`ID OF SELLER'S OFFER
`t
`IDENTIFYING ACCOUNT, ORDER, &
`390,
`SELLER'S BROKER[DEALER
`ROOT SERVER 50 NOTIFIES
`t
`358,
`SELLER'S BROKER/DEALER AND
`ROOT SERVER 50 UPDATES
`BUYER'S BROKER/DEALER OF
`DETAILS OF TRANSACTION,
`MASTER DATABASE ORDER
`BOOK INFO
`UPDATES MASTER DATABASE,
`AND TRANSMITS UPDATE INFO
`TO REPLICA SERVERS
`
`362, t
`
`394] '
`
`SELLER ACTIVATES
`CONNECTION STATUS
`DISPLAY AND CONNECTS
`TO SELLER'S BROKER/
`DEALER SERVER/DATABASE
`
`APPLICATION SENDS
`IDENTITY OF SELLER'S
`SELECTED STOCK TO
`REPLICA SERVER
`
`'
`314)
`APPLICATION DISPLAYS
`MASTER TRADE SCREEN
`AND CONNECTS TO
`LOAD BALANCER
`'
`3181
`LOAD BALANCER
`TRANSFERS CONNECTION
`TO A REPLICA SERVER
`t
`SELLER SELECTS A I
`322)
`STOCK OF INTEREST
`326) '
`330) '
`
`REPLICA SERVER/DATABASE
`ADOS SELLER'S 10 TO
`SUBSCRIBER LIST FOR ORDER
`BOOK FOR SELECTED STOCK
`f
`334]
`REPLICA SERVER SENDS
`ORDER BOOK INFO TO SELLER'S
`APPLICATION AND CONTINUES TO
`UPDATE IN REAL TIME
`338]
`APPLICATION USES ORDER
`BOOK INFO TO FILL IN
`ORDER BOOK DISPLAY
`AND RELATED DISPLAYS
`
`'
`
`I
`
`FIG.3
`
`

`
`U.S. Patent
`
`Jun.18,2002
`
`Sheet 4 of 69
`
`US 6,408,282 Bl
`
`50
`
`~
`
`::::
`_..
`ROOT SERVER r-...--(cid:173)
`HOLDS
`DEFINITIVE
`COLLECTION OF
`"OBSERVABLES ".
`ITEMS A-Z
`
`.....
`
`-
`40 v--
`
`::::
`-::::
`REPLICA SERVER
`HOLDS REAl-TIME
`SYNCHRONIZED SET
`OF DEFINITIVE
`COLLECTION OF
`"OBSERVABLES ".
`ITEMS A-Z
`
`c
`
`~
`
`.....
`
`;:;
`_..
`
`;;
`
`-
`
`-
`30
`'l.
`::::.
`.._
`REPLICA SEIMR
`HOO)S RfAI.-TIME
`SYNCHRONIZED SET
`OF DEFINITIVE
`COLLECTION OF
`"OBSERVABLES ".
`ITEMS A-Z
`
`.._
`
`........
`
`480
`\
`
`USERS VIEW OOOER
`FROitl USER (A) IN
`OOOER BOOK DISPlAY
`IN REM. Till
`
`.:::
`40
`~
`\_~
`_..
`REPLICA SERVER
`HOLDS REAl-TIME
`SYNCHRONIZED SET
`OF DEFINITIVE
`COLLECTION Of
`"OBSERVABLES ".
`ITEMS A-Z
`
`_.,
`
`30
`
`\
`
`'--
`30
`
`"
`
`30
`\
`
`.._
`
`_..
`
`'--
`
`_.,
`
`'--
`
`_r::4ss
`
`465\
`
`::: h
`K.
`:::~
`::::~
`_..;:::_
`r--..:
`f:::-
`.::::.
`::::.~
`REPLICA SERVER
`REPLICA SERVER
`REPLICA SERVER
`HOLDS REAL-TIME
`HOLDS RE.AL-TIUE
`HOLDS RfAI.-TIME
`SYNCHRONIZED SET
`SYNCHRONIZED SET
`SYNCHRONIZED SET
`OF DEFINITIVE
`Of DEFINITIVE
`OF DEFINITIVE
`COLLECTION or
`COLLECTION or
`COLLECTION OF
`"OBSERVABLES ".
`"OBSERVABLES ".
`"OBSERVABLES ".
`ITEMS A-Z
`ITEMS A-Z
`ITEMS A-Z
`
`30
`
`- ....
`
`30
`~
`:::::h
`---~
`REPLICA SERVER
`REPLICA SERVER
`HOLDS RfAI.-TIUE
`HOLDS RfAl.-TIME
`SYNCHROOIZEO SET
`SYNCHRONIZED SET
`~ OF DEFINITIVE
`OF DEFINITIVE
`COLLECTION or
`COLLECTION OF
`"OBSERVABLES ".
`"OBSERVABLES ".
`ITEMS A-Z
`ITEMS A-Z
`...
`(470
`
`USER (A) OOERS M
`ORO£R TO BUY 00 SEll
`USERS ~EW OOOER
`STOCK AT A PRIC£
`fROII USER (A) IN
`L[V[L U· WY A
`ORDER BOO< DISPlAY
`IN REN. lilA[
`lfXJ SJW?ES fl 1811
`AT 1125.25
`r------'----, 485
`l_ r-------L----,
`USERS VIEW OROER
`fROIA USER (A) IN
`SYSTEM PASSES
`OROER BOOK DISPlAY
`TRANSACTION TO THE
`IN RfAI. TIIAE
`ROOT SERVER BY WAY
`OF REPLICA SERVER
`NETWORK.
`
`USERS ~EW ORDER
`fROY USER (A) IN
`ORDER BOOK DISPlAY
`IN RUJ.. TIYE
`
`1
`460 /
`
`FIG.4
`
`/475
`USERS 0 OODER
`1
`fROIA USER (A) IN ~
`OROCR BOOK DISPlAY
`IN RfAI. TIU[
`
`

`
`U.S. Patent
`
`Jun.18,2002
`
`Sheet 5 of 69
`
`US 6,408,282 Bl
`
`YOUR ORDERS
`
`LIMIT QlY.
`
`500
`
`AFTER HOURS MKT. IS OPEN
`
`YOUR ORDERS
`
`300
`
`200
`
`100
`
`SELL SIDE
`AON QlY.
`500
`1000
`500
`500
`1000
`1000
`2500
`3000
`10000
`
`\
`
`~
`
`HELP
`$
`PREF.
`148 DAY NilE
`
`~
`
`~
`
`::z:zz::<
`
`~
`
`~
`
`147
`
`146
`
`145
`
`144
`
`143
`
`YOUR POS. c 142.50
`P&L$4 508
`OVERALL P&L 19%
`PRICE MAP SCALE
`
`I
`VISUAL QUOTE AND ORDER BOOK DISPLAY
`IBM INTERNATIONAL BUSINESS MACHINES
`Jl<lQ: IN 1/lli_
`BUY SIDE
`AON QlY.
`DECIMALS
`LIMIT QlY.
`145
`100
`144.9375 500
`144.876
`400
`144.8125 400
`144.75
`150
`144.6875 1000
`144.625
`4500
`144.562
`5000
`144.5
`2000
`144.4375
`144.375
`144.3125
`144.25
`19500
`144.1875
`3000
`3000
`144.125
`2500
`1000
`1000
`100
`144.0625
`144
`1000
`200
`HI
`VOL
`LAST NITE CHNG.NITE LAST DAY CHNG.DAY
`LOW
`980.000
`2.25%
`$143.00
`l$144.50
`144.5
`1.50%
`$143.00
`MOST ACTM: SHOW NEWS NEWS OUT
`DAY MKT NITE MKT
`CHART
`ORDER BK.
`TO SHOW NEW STOCK ENTER SYMBOL>>
`SYMBOL
`UtM:UENT UP
`COMPRESS SPREAD
`TRADE TICKET I 51 0
`ACTION
`QUANTITY
`I vii
`!BUY
`LIMIT PRICE
`STOP PRICE
`I 52
`I vii
`DURATION
`CONDITION
`I DAY
`!vii NONE
`REAL-TIME QUOTE SHOWN BELOW
`OPEN
`HI
`CLOSE
`LOW
`BID:O.O
`BID SIZE: 0.0
`YOUR CURRENT BUYING POWER IS:
`IF YOU EXECUTE THIS TRADE YOUR BALANCE WILL BE
`THE TOTAL COST INCLUDING COMMISSION WILL BE
`
`VERIFICATION l
`
`WIT CAPITAL
`ON LINE
`
`WIT
`WATCH STKS.
`YOUR STKS.
`
`TRADE STOCKS
`QUICK QUOTE
`I
`-/
`530
`
`SHOW DSM
`CLEAR
`
`I
`I
`
`CANCEL
`HIDE DETAILS
`
`J
`I
`
`WELCOME TO THE NEW WIT CAPITAL DIGITAL STOCK MARKET
`IBM +.9375 144.5
`
`POS./P&L
`OPEN ORDERS
`
`I ACCOUNT HISTORY
`I
`NEGOTIATIONS
`
`l
`l
`
`FINANCIAL SUMMARY I
`lJ
`MESSAGES
`
`FIG.5A
`
`I PREF. HELP I X
`PRICE TYPE
`SYMBOL
`I vII LIMIT
`I vii
`I vi
`ACCT. 93901031 0 NEGOTIATIONS ALLOWED
`I vi
`OANONYMOUS
`ACCOUNT
`ROUTE TO
`I vII CASH
`!vii NONE
`LAST
`CHANGE
`VOL
`ASK: 0.0
`
`ASK SIZE: 0.0
`
`I
`
`I vI
`
`'
`
`)
`I
`(
`\
`
`lj
`
`152
`0
`
`

`
`U.S. Patent
`
`Jun.18,2002
`
`Sheet 6 of 69
`
`US 6,408,282 Bl
`
`II FORWARD II HOME
`
`IIBOOKIAARKS II FIND
`
`II STOP
`
`I=IEl X
`I HELP
`I
`
`t--
`
`1--
`
`ACTION
`SELL
`SELL
`
`ORDER TYPE
`LIMIT
`LIMIT
`
`LIMIT $
`121.00
`121.00
`
`QUANTITY
`200
`400
`
`I
`I I BACK
`II OTHER FUNCTIONS I
`SEARCH I
`J
`DSM NEWS
`I PRE -OPENING II OPENING BELL II HOT SHOTS I I NEWS OUT II CLOSING BELL I
`HOT SHOTS
`NEWS ON THE CURRENT 24 MOST ACTIVE STOCKS
`540
`• IBM REPORTS EARNINGS UP 22% OVER SAME PERIOD LAST YEAR.
`·DELL IN AFTER HOURS NEWS, REPORTS EARNINGS UP 42% OVER LAST YEAR SAME QUARTER
`• CMPT
`IN AFTER HOURS NEWS, REPORTS LAUNCH Of NEW DIRECT SALES PLAN
`fOR INTERNET
`I SHOW HELP II SHOW EIAAIL II SHOW NEWS I
`I SHOW CHART
`II SORT NEWS
`II SHOW MY STKS.I
`OPEN ORDER LIST
`I PREF.I HELP X
`SYMBOL
`ACCOUNT
`CURRENT
`IBM
`CASH
`121.1875
`CASH
`IBM
`121.1875
`545
`[>
`SELL TOTAl $4,144,440.32
`REPORTS
`I DETAILS>
`I
`I PREF.IHELP XI
`PROFIT /LOSS
`8,002 6
`16,484
`1 350 r--
`855.00
`
`I
`BUY TOTAL $0.00
`SORT
`
`COST
`
`CHANGE
`
`PRICE
`119.375
`78.50
`89.25
`60.00
`75.375
`
`QUANTITY
`100
`100
`100
`100
`100
`
`<JI
`BUYING POWER $0.00
`CANCEL
`CANCEL ALL
`550
`CURRENT POSITIONS
`SYMBOL
`ACCOUNT
`CASH
`CASH
`CASH
`CASH
`CASH
`
`AOL
`AOL
`CCI
`csco
`DELL
`<JI
`BUYING POWER $
`SELL
`FINANCIAL SUMMARY
`
`I
`TOTAL POSITIONS
`SORT
`
`\7
`
`lr>
`
`$
`I REPORTS I
`I DETAILS>
`l PREF.I HELP XI
`560
`CHANGE/YTD
`CHANGE/DAY
`-1%
`-2%
`-1%
`-2%
`-2%
`-1%
`
`EQUITIES
`MUTUAL FUNDS
`vRAND SUM
`CASH ACCT
`MARGIN
`OPEN ORDERS
`Jo.!EGOTIATIONS
`BUYING POWER
`
`I
`I
`I
`I
`
`PROFITL_LOSS
`6!>,0j 1.2!>
`9.031.25
`9 031.25
`
`BALANCE
`32.868.00
`i5_6 987j_8
`1 525 332.00
`i55.987,87
`34 657.98
`15 789.76
`b25.987.87
`40 987.87
`
`I
`
`I
`
`I
`
`I DETAILS>
`PREFERENCES
`I
`I
`
`REPORTS
`HELP
`11:07:55
`
`NASDAQ
`NYSE
`
`I STOCK SUMMARY
`I
`WIT NEWS
`
`I
`I
`
`CUSTOM VIEWS
`ACCOUNTS
`
`I PEEL OFF DISPLAY
`I
`ALERTS
`
`_I
`I
`
`EXPAND
`SHRINK
`
`FIG.SB
`
`

`
`VISUAL QUOTE AND ORDER BOOK DISPLAY
`IBM
`INTERNATIONAL BUSINESS MACHINES
`BUY SIDE
`AON QTY.
`
`LIMIT QTY.
`
`YOUR ORDERS
`
`610
`"---1 NITE MKT. IS OPEN
`
`YOUR ORDERS
`
`300
`
`200
`
`100
`
`SELL SIDE
`IN 1/16
`PRICE
`AON QTY.
`LIMIT QTY.
`DECIMALS
`500
`100
`53
`1000
`500
`52.9375
`500
`400
`52.876
`500
`400
`52.8125
`684
`1000
`150
`52.75
`1000
`1000
`~ 52.6875
`4500
`2500
`52.625
`3000
`52.562
`5000
`672 2300 668 10000
`52.5
`52.4375
`) 2571
`52.375
`52.3125 ( 8000
`1284
`52.25
`52.1875
`6000
`692
`689
`691
`52.0625
`/690 J
`~
`{
`52
`LAST NITE ( CHNG. NITE I LAST DAY / CHNG. DAY\
`I
`52.1875
`2.25% _./ $51.0625 I
`1.50%
`I
`SHOW NEWS
`NITE MKT.,
`I DAY MKT.
`II NEWS OUT
`MOVEMENT UP 1_\ COMPRESS SPREAD
`1
`SYMBOL
`\
`(
`)
`(
`669
`660
`
`25000
`
`3000 I 8000
`
`I
`
`I
`
`676
`
`679 ~
`680\
`678~ ~ 68~ 52.125
`
`'
`
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`J
`\
`\
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`VOL
`' $52.75
`I $50.0625 \
`~ 980,000
`I\
`CHART
`MOST ACTIVE
`ORDER BK.
`TO SHOW NEW STOCK ENTER SYMBOL »L
`(
`J
`J
`642~ 688 664
`
`6
`
`681
`
`~
`
`614
`16
`
`,
`HELP
`PREF.
`$ MORE INFO.
`NITE
`55 DAY
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`./
`-
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`
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`
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`
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`
`"
`PRICE MAP SCALE ~648
`P&L$4,508
`OVERALL P&L 19%
`
`FIG.6
`
`656
`
`J
`669
`
`

`
`U.S. Patent
`
`Jun.18,2002
`
`Sheet 8 of 69
`
`US 6,408,282 Bl
`
`740
`
`)
`
`\
`
`ACTION
`I SELLIN
`I SELL/N
`
`ORDER TYPE
`LIMIT
`I
`LIMIT
`I
`
`I
`I
`
`LIMIT$
`121.00 I
`121.001
`
`I PREF._I HELP I X I
`QUANTITY
`CURRENT
`121.18751
`200 I
`400 I
`121.18751
`
`OPEN ORDER LIST
`SYMBOL
`ACCOUNT
`IBM
`I CASH
`IBM
`I CASH
`
`<]I
`BUYING POWER $ 0.00
`I CANCEL ALL I
`CANCEL
`
`I
`I
`730
`
`450
`(
`CURRENT POSITIONS
`SYMBOL
`ACCOUNT
`AOL
`CASH
`AOL
`CASH
`CCI
`CASH
`csco
`CASH
`DELL
`CASH
`<l I
`BUYING POWER $
`SELL
`)
`810
`
`I
`II>
`SELL TOTAL $4,144,440.32
`BUY TOTAL $0.00
`SORT 1 I DETAILS > I CHANGE tl
`I
`)
`
`710)
`
`720
`
`FIG.7
`
`COST
`96.25
`55.00
`83.5
`59
`65.25
`
`I PREF .1 HELP X
`PROFIT /LOSS
`CHANGE
`8062.83 t:.
`.23
`7006.37
`.24
`9355.74 r-
`.06
`9833.33
`.01
`8656.72 "V
`.10
`J!>
`I
`TOTAL POSITIONS
`$
`I DETAILS > I I REPORTS I
`I I SORT
`)
`)
`820
`830
`
`PRICE
`119.375
`78.50
`89.25
`60.00
`75.375
`
`QUANTITY
`100
`100
`100
`100
`100
`
`FIG.8
`
`

`
`910
`
`920
`
`930
`
`945
`955
`965
`975
`
`FINANCIAL SUMMARY
`-.... EQUITIES
`,. MUTUAL FUNDS
`~-.... GRAND SUM
`""
`CASH ACCT.
`-.... MARGIN
`.,.,-. OPEN ORDERS
`-.... NEGOTIATIONS
`.,.,-. BUYING POWER
`
`- - - - - - -
`
`-
`
`)
`BAlANCE
`32.868.00
`56 987.98
`1 525 332.00
`55 987.87
`34 657.98
`15 789.76
`25 987.87
`40 987.87
`'-~
`
`· · -
`
`---
`
`1032
`
`1034
`
`1036
`
`1040
`
`)
`PROFIT /LOSS
`65 031.25
`9 031.25
`9 031.25
`
`)
`CHANGE/DAY
`-2%
`-1%
`-1%
`
`I PREF.I HELP I x
`CHANGE!YTD
`-1%
`-2%
`-2%
`
`- 940
`
`___ I
`
`DETAILS_>
`
`]
`
`REPORTS
`
`-
`
`j_
`FIG.9
`
`1030
`
`-
`
`I BACK
`SEARCH I
`
`II FORWARD ll HOME
`
`IIBOOKMARKSI I FIND
`
`II
`
`STOP
`
`NEWS
`
`II OTHER FUNCTIONS I
`J
`II NEWS OUT
`I PRE -OPENING II OPENING BELL II HOT SHOTS
`HOT SHOTS
`NEWS ON THE CURRENT 24 MOST ACTIVE STOCKS
`• IBM REPORTS EARNINGS UP 22% OVER SAME PERIOD lAST YEAR.
`• DELL IN AFTER HOURS NEWS, REPORTS EARNINGS UP 42% OVER lAST YEAR SAME QUARTER.
`• CMPT IN AFTER HOURS NEWS, REPORTS lAUNCH OF NEW DIRECT SALES PlAN FOR INTERNET.
`I SHOW HELP ,, SHOW E-MAIL! I SHOW NEWS II
`.
`.
`1010
`1020
`FIG.1 0
`
`I HELP
`
`I
`
`II CLOSING BELL I =
`
`I SHOW CHART II SORT NEWS
`
`=== -
`II SHOW MY STKS.I
`
`d •
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`

`
`1145 1130
`'
`)
`I
`\
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`
`\
`
`I"
`
`I
`
`1135
`)
`I
`_\
`\
`
`SYMBOL
`
`ACCT.93901 031
`
`ACCOUNT
`
`1140
`I
`TRADE TICKET I 1
`QUANTITY
`ACTION
`I" II
`-~BUY
`STOP PRICE \
`LIMIT PRICE
`II
`I" II
`CONDITION
`DURATION
`I" II NONE
`-~DAY
`REAL-TIME QUOTE SHOWN BELOW
`HI
`OPEN
`CLOSE
`LO
`BID: 0.0
`BID SIZE: 0.0
`• YOUR CURRENT BUYING POWER
`IS:
`• IF YOU EXECUTE THIS TRADE YOUR BALANCE WILL BE
`THE TOTAL COST INCLUDING COMMISSION WILL BE
`
`'
`(
`1155
`
`I" I CASH (
`
`LAST
`VOL
`ASK: 0.0
`
`1165
`
`1125
`
`115
`
`1112
`1114
`1116
`
`116(
`I PREF.I HELP I X :J
`.-
`PRICE TYPE
`I "II LIMIT
`'I" I
`0 NEGOTIATIONS ALLOWED ... .._/"""'"
`0 ANNONYMOUS - _
`ROUTE TO
`I" II NONE
`CHANGE
`
`I " I
`
`\..
`
`(
`
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`
`1170
`
`ASK SIZE: 0.0
`$
`$
`$
`
`1175
`1180
`
`d •
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`
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`
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`
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`
`VERIFICATION
`
`1_
`
`SHOW DSM
`CLEAR
`
`I
`
`CANCEL
`HIDE DETAILS
`
`1110
`
`1115
`
`FIG.11
`
`

`
`1210
`
`WELCOME TO THE
`+.9375
`IBM
`
`STOCK MARKET
`
`WIT CAPITAL
`ON LINE
`
`,
`I
`WIT
`WATCH STKS.
`YOUR STKS.
`f
`
`,
`}
`I
`
`1230
`
`1220
`
`FIG.12
`
`I ORDER DRIVER I PREFERENCES I
`I
`
`HELP
`11:07:55
`
`NASDAQ
`NYSE
`
`'
`
`I
`
`d •
`\Jl
`•
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`
`~
`
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`~
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`
`

`
`135......_ ~ HELP
`$ IBM
`148 NM
`
`AMM
`
`HELP
`$ AOL
`120 NM
`
`AHM
`
`$ BA
`102 NM
`
`HELP
`$ CCI
`95 NM
`
`AHM
`
`HELP
`$ csco
`62 NM
`
`AHM
`
`HELP
`$ DELL
`49 NM
`
`AHM
`
`f---
`
`119
`
`-
`
`101
`
`~ 1 - -
`
`118 I 100
`
`f---
`
`1 - -
`
`99
`
`98
`
`117
`
`116
`
`115
`
`J---
`.____ f---
`
`1 - -
`
`97
`
`147
`
`146
`
`145
`
`f---
`
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`
`1
`
`13
`
`132
`
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`f---
`
`~
`1<::::::::
`0,.....--..
`. /
`
`115
`
`143
`
`f---
`
`YOUR POS. $143.50
`P&L t$4,508
`
`....__ __ SHARES OWNED 1000
`
`r'-
`
`.._/ f"
`
`NEWS OUT
`SELL
`BUY
`
`HELP
`
`AHM
`
`f---
`
`f---
`
`~
`
`94
`
`93
`
`92
`
`91
`
`90
`
`f---
`
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`
`rzzz.
`f---
`
`61
`
`60
`
`I - -
`
`48
`
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`
`~ f---
`47
`
`59 ~ 46
`~ ~~
`
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`
`58
`
`I - -
`
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`
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`
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`
`F=
`
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`
`57
`
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`
`44
`
`1---
`
`1330
`
`d •
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`
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`N c c
`
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`
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`00
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`1--"
`
`YOUR POS. $116.25
`P&L+$3,675
`SHARES OWNED 600
`NEWS OUT
`SELL
`BUY
`
`YOUR POS. $99.60
`P&L t$2,555
`SHARES OWNED 250
`NEWS OUT
`SELL
`BUY
`
`YOUR POS. $90.90
`P&L+$1,124
`SHARES OWNED 400
`NEWS OUT
`SELL
`BUY
`
`YOUR POS. $60.35
`P&L+$773
`SHARES OWNED 1500
`NEWS OUT
`SELL
`BUY
`
`YOUR POS. $45.25
`P&Lt$76
`SHARES OWNED 800
`NEWS OUT
`SELL
`__ BUY
`
`FIG.13
`
`

`
`1430
`
`1430
`
`CHART OF TRADING ACTIVITY
`IBM
`INTERNATIONAL BUSINESS MACHINES
`
`1430
`
`1455 ~ I
`
`1465 ~
`
`~
`
`uiiiiii'TIII•IIJI'" ..
`
`I
`
`I
`
`I
`
`Vl
`
`I 1435
`
`1420
`1425
`
`IJ ~1432
`
`w·
`
`1450
`
`1412
`
`12:30
`LAST AHM
`
`2:30
`1 :30
`I CHNG.AHM
`
`4:30
`CHNG.NM
`1.50%
`NITE MKT.
`DAY MKT.
`COMPRESS SPREAD
`
`1416
`
`FIG.14
`
`d •
`\Jl
`•
`~
`~ ......
`~ = ......
`
`~ = ?
`'"""'
`~CIO
`N c c
`
`N
`
`'JJ. =-~
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`0 ......,
`0'1
`'0
`
`e
`
`\Jl
`0'1
`'l.
`Q
`00
`'N
`00
`N
`~
`1--"
`
`

`
`1540
`
`1545
`
`1515
`
`1510
`
`TRADE STOCKS
`QUICK QUOTE
`
`POS./P&L
`OPEN ORDERS
`
`ACCOUNT HISTORY FUNDS AV/IJlABLE STOCK SUMMARY
`NEGOTIATIONS
`MESSAGES
`NEWS
`
`---------~--
`
`- - - - - - - - -
`
`CUSTOM VIEWS
`ACCOUNTS
`
`PEEL OFF DISPlAY
`ALERTS
`
`EXPAND
`SHRINK
`
`I
`
`I
`
`1535
`
`1530
`
`1550
`
`1525
`
`1520
`
`FIG.15
`
`d •
`\Jl
`•
`~
`~ ......
`~ = ......
`
`~ = ?
`'"""'
`~CIO
`N c c
`
`N
`
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`0 ......,
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`'0
`
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`
`rJ'l
`0'1
`'l.
`Q
`00
`'N
`00
`N
`~
`1--"
`
`

`
`U.S. Patent
`
`Jun.l8,2002
`
`Sheet 15 of 69
`
`US 6,408,282 Bl
`
`YOUR ORDERS
`
`LIMIT QTY.
`
`AFTER HOURS MKT. IS OPEN
`
`YOUR ORDERS
`
`300
`
`200
`
`100
`
`SELL SIDE
`AON QTY.
`500
`1000
`500
`500
`1000
`1000
`2500
`3000
`10000
`
`'\
`1\
`r"\
`
`HELP
`$
`PREF.
`148 DAY
`NITE
`
`r--
`
`r - -
`
`rzzz,
`
`r--
`
`r - -
`
`147
`
`146
`
`145
`
`144
`
`143
`
`I
`VISUAL QUOTE AND ORDER BOOK DISPLAY
`IBM
`INTERNATIONAL BUSINESS MACHINES
`BUY SID!:.
`PRICE IN 1/16
`AON QTY.
`DECIMALS
`LIMIT QTY.
`145
`100
`144.9375 500
`144.876
`400
`144.8125 400
`144.75
`150
`144.6875 1000
`144.625
`4500
`144.562
`5000
`144.5
`2000
`144.4375
`144.375
`144.3125
`144.25
`9500
`144.1875
`3000
`3000
`144.125
`1000
`2500
`144.0625
`100
`1000
`YOUR POS
`~ 142.50
`144
`200
`1000
`LAST NITE CHNG.NITE LAST DAY CHNG.DAY P&L$4 508
`HI
`VOL
`LOW
`OVERJIU P&L 19%
`2.25%
`$143.00
`1.50%
`980.000
`144.5
`$144.50
`$143.00
`MOST ACTIVE SHOW NEWS NEWS OUT
`DAY MKT NITE MKT
`CHART
`ORDER BK.
`PRICE MAP SCALE
`UOVEUENT UP
`SYMBOL
`TO SHOW NEW STOCK ENTER SYMBOL>>
`COMPRESS SPREAD
`TRADE TICKET I
`ACTION
`QUANTITY
`I BUY
`1911
`LIMIT PRICE
`STOP PRICE
`I 52
`I vii
`DURATION
`CONDITION
`I DAY
`1911NONE
`REAL-TIME QUOTE SHOWN BELOW
`OPEN
`HI
`CLOSE
`LOW
`BID:O.O
`BID SIZE: 0.0
`YOUR CURRENT BUYING POWER IS:
`IF YOU EXECUTE THIS TRADE YOUR BALANCE WILL BE
`THE TOTAL COST INCLUDING COMMISSION WILL BE
`
`I PREF.
`PRICE TYPE
`SYMBOL
`191
`1911 LIMIT
`1911
`ACCT. 93901031 0 NEGOTIATIONS ALLOWED
`I vi
`OANONYMOUS
`ACCOUNT
`ROUTE TO
`I vii cASH
`lviiNITE
`LAST
`VOL
`ASK: 0.0
`
`CHANGE
`
`ASK SIZE: 0.0
`
`I
`
`IX
`
`I vi
`
`\
`}
`
`(
`\
`
`I
`\
`I
`I
`I
`I
`
`VERIFICATION :
`
`WIT CAPITAL
`ON LINE
`
`WIT
`WATCH STKS.
`YOUR STKS.
`TRADE STOCKS
`QUICK QUOTE
`__)
`
`1610
`
`SHOW DSM
`CLEAR
`
`I
`I
`
`CANCEL
`HIDE DETAILS
`
`I
`I
`
`WELCOME TO THE NEW WIT CAPITAL DIGITAL STOCK MARKET
`CCI+ 1.25
`AOL +.375
`BA+.50
`MIR+2.96675
`GTWY+.25
`AGPH+54.00
`ADLI+3.625
`AMGN+101.00
`AUF+ 1.626
`FUNDS AVAILABLE
`POS./P&L
`MESSAGES
`OPEN
`::>RDERS
`
`AGMXX+.16015
`AMAT +43.0375
`ACCOUNT HISTORY
`NEGOTIATIONS
`
`I
`
`I
`
`FIG.16A
`
`

`
`U.S. Patent
`
`Jun.l8,2002
`
`Sheet 16 of 69
`
`US 6,408,282 Bl
`
`I
`BACK
`SEARCH I
`DSM NEWS
`
`!IFORWARD II HOME
`
`II BOOKMARKS II FIND
`
`II STOP
`
`I=IEJ X
`I HELP
`I
`
`-
`
`-
`
`II OTHER FUNCTIONS I
`I
`I PRE -OPENEING II OPENING BELL II HOT SHOTS I I NEWS OUT II CLOSING BELL I
`HOT SHOTS
`NEWS ON THE CURRENT 24 MOST ACTIVE STOCKS
`• IBM REPORTS EARNINGS UP 22% OVER SAME PERIOD LAST YEAR.
`·DELL IN AFTER HOURS NEWS, REPORTS EARNINGS UP 42% OVER LAST YEAR SAME QUARTER
`• CMPT IN AFTER HOURS NEWS, REPORTS LAUNCH OF NEW DIRECT SALES PLAN FOR INTERNET
`II SORT NEWS
`II SHOW MY STKS.I
`I SHOW CHART
`I SHOW HELP
`I I SHOW EMAIL II SHOW NEWS
`I
`OPEN ORDER LIST
`I PREF.I HELP X
`CURRENT
`SYMBOL
`ACCOUNT
`IBM
`CASH
`121.1875
`CASH
`121.1875
`IBM
`
`ACTION
`SELL
`SELL
`
`ORDER TYPE
`LIMIT
`LIMIT
`
`LIMIT $
`121.00
`121.00
`
`QUANTITY
`200
`400
`
`I
`
`I
`
`I
`I
`
`I
`
`I
`BUY TOTAL $0.00
`I SORT
`
`COST
`
`C>
`SELL TOTAl $4,144,440.32
`I CHANGE
`[ DETAILS>
`I PREF.I HELP x
`PROFIT /LOSS
`8,002 6.
`16,484
`1 350 1--
`855.00
`
`CHANGE
`
`PRICE
`119.375
`78.50
`89.25
`60.00
`75.375
`
`QUANTITY
`100
`100
`100
`100
`100
`
`I
`TOTAL POSITIONS
`I SORT
`
`\1
`
`le>
`
`s
`I
`I DETAILS>
`I REPORTS
`I PREF.I HELP X l
`CHANGE/YTD
`-1%
`-2%
`-2%
`
`CHANGE/DAY
`-2%
`-1%
`-1%
`
`PROFIT /LOSS
`~65 031.25
`9 031.2~
`9 031.25
`
`<JI
`BUYING POWER $0.00
`CANCEL
`CANCEL ALL
`CURRENT POSITIONS
`SYMBOL
`ACCOUNT
`CASH
`CASH
`CASH
`CASH
`CASH
`
`AOL
`AOL
`CCI
`csco
`DELL
`<JI
`BUYING POWER $
`SELL
`FINANCIAL SUMMARY
`
`EQUITIES
`MUTUAL ~ UNlJS
`GRAND SUM
`CASH ACCT
`MARGIN
`OPEN ORDERS
`NEGOTIATIONS
`BUYING POWER
`
`BALANCE
`2.868.00
`56 987.98
`1 525 332.00
`;55_9R7.R7
`34 657.98
`15 789.76
`;25.987.87
`40 987.87
`
`I
`
`I
`
`I DETAILS>
`PREFERENCES
`
`CACS+ 1.00
`ABGXX + .21093
`AHWY + 13. 17 5
`AMKR+9.625
`STOCK SUMMARY
`WIT NEWS
`
`ABGXX + .16406
`AKLM+ 11.50
`AMNXX + .30076
`CUSTOM VIEWS
`ACCOUNTS_
`
`ACRXX + .30858
`AKZOY+43.375
`AMZN+J24.6125
`PEEL OFF DISPLAY
`ALERTS
`
`1+
`
`CONTINUED ON FIG.16C
`
`FIG.168
`
`REPORTS
`HELP
`00:00:00
`
`NASDAQ
`NYSE
`
`EXPAND
`SHRINK
`
`

`
`CONTINUED FROM FIG.168
`
`TT
`
`WELCOME TO THE NEW WIT CAPITAL DIGITAL STOCK MARKET
`CSCOt 1.00
`8At.50
`CCI+ 1.25
`AOL +.375
`ABGXX +. 1 6406
`ABGXX + .21093
`G1Wl't.25
`MlR+ 2.96875
`AKLM+ 11.50
`AHWl'+ 13.175
`AGPH+54.00
`AGMXX+.16015
`ADLI+3.625
`AMNXXt.30076
`AMKR+9.625
`ALIF+ 1.626
`AMGN+ 101.00
`AMAT +43.9375
`CUSTOM VIEWS
`STOCK SUMMAIRY
`POS./P&L
`ACCOUNT HISTORY FUNDS AVAILABLE
`_QE[NJ}RDERS
`NEGOTIATIONS __ _ _MESSAGES __ ~IT NEWS_ '---------- ACCOUNTS
`t •
`
`PREFERENCES
`
`I=IEJixl
`HELP
`00:00:00
`
`ACRXX + .30859
`AKZOY +43.375
`AMZN+ 324.6125
`PEEL OFF DISPLAY
`AlERIS
`
`NASDAQ
`NYSE
`
`EXPAND
`SHRINK __
`
`WELCOME TO THE NEW WIT CAPITAL DIGITAL STOCK MARKET
`I
`I ACCOUNT HISTORY I FUNDS AVAILABLE I STOCK SUMMARY I
`POS./P&L
`I
`MESSAGES L
`l
`OPEN ORDERS]
`NEGOTIATIONS
`WIT NEWS I
`
`I
`PREFERENCES
`CUSTOM VIEWS I PEEL OFF DISPLAY
`l
`ACCOUNTS
`ALERTS
`
`I=IEJixl
`HELP
`00:00:00
`EXPAND
`SHRINK
`
`162
`
`D
`
`WIT CAPITAL
`ON LINE
`
`'
`
`WIT
`WATCH STKS.
`YOUR STKS.
`TRADE STOCKS
`QUICK QUOTE
`
`1630
`
`.. 10 - WIT CAPITAL
`
`ON LINE
`TRADE STOCKS
`QUICK QUOTE
`
`1640
`
`D
`
`WIT CAPITAL
`AOL + .375
`CSCO+ 1.00
`TRADE
`QUOTE
`
`I ON-LINE
`
`GMt .25
`I
`NEWS
`J
`MESSAGES
`
`I=IEJixl
`I
`HELP
`CCI+ 1.25
`MlR+ 2.96675
`I
`EXPAND -
`j_ CLOSE
`
`1650
`
`FIG.16C
`
`d •
`\Jl
`•
`~
`~ ......
`~ = ......
`
`~
`
`~
`"'""'
`~CIO
`N c c
`
`N
`
`'JJ. =(cid:173)~
`~ .....
`"'""'
`-..J
`0 ......,
`0'1
`'0
`
`e
`
`rJ'l
`0'1
`'l.
`Q
`00
`'N
`00
`N
`~
`1--"
`
`

`
`U.S. Patent
`
`Jun.l8,2002
`
`Sheet 18 of 69
`
`US 6,408,282 Bl
`
`USER ACCESSES
`WEBSITE
`
`1710
`
`USER RECEIVES
`REQUIREMENTS UST
`
`1715
`
`1720
`
`USER RECEIVES
`>-N_O_~ UPGRADE INFO OR
`SOFTWARE
`
`1725
`
`YES
`
`1730
`
`USER DOWNLOADS
`FULL APPUCATION
`
`.,___ ____ ___.
`
`1735
`
`USER OPENS
`APPUCATION FOR
`FIRST TIME
`
`~ USER ATTEMPTS
`1740
`TO OPEN ACCOUNT
`
`1745
`
`USER CONNECTED
`TO ACCOUNT OPENING
`DATABASE & HELP
`DATABASE
`
`1750
`
`YES
`
`USER ACCOUNT IS
`OPEN AND FULL
`APPUCATION IS ACTIVE
`
`1755
`
`FIG.17
`
`

`
`U.S. Patent
`
`Jun.l8,2002
`
`Sheet 19 of 69
`
`US 6,408,282 Bl
`
`USER OPENS
`APPLICATION
`
`1805
`
`APPLICATION ATIEMPTS
`TO CONNECT TO
`REPLICA SERVER
`
`1810
`
`1825
`
`NO
`
`USER RECEIVES
`DIALOG BOX
`
`USER LOGS ON
`IN APPLICATION
`
`1820
`
`ALL CHANGES TO REPLICA
`DATABASE REFLECTED IN
`MASTER DATABASE
`
`1840
`
`APPLICATION
`PASSES INTO
`REPLICA SERVER
`
`DATABASE ON REPLICA SERVER
`ATIEMPTS TO MATCH NAME AND
`PASSWORD TO LIST OF USERS
`
`1845
`
`USER
`RECEIVE
`DIALOG
`BOX
`
`1850
`
`APPLICATION
`RECEIVES USER'S
`FILTERED INFO
`
`1860
`
`MASTER TRADE
`SCREEN DISPLAYED
`
`1865
`
`USER'S DISPLAY
`AUTOMATICALLY
`UPDATED IN
`REAL -TIME
`
`1870
`
`FIG.18
`
`

`
`U.S. Patent
`
`Jun.18,2002
`
`Sheet 20 of 69
`
`US 6,408,282 Bl
`
`f--.../1910
`
`USER OPENS
`MASTER TRADE
`SCREEN
`t
`APPLICATION DISPLAYS ~1915
`NECESSARY INFO ON
`MASTER TRADE SCREEN
`
`j
`USER SELECTS TREND ~1920
`CHART VIEW
`
`USER DECIDES TO
`SEE OTHER STOCK ~1925
`IN DETAILED BOOK
`VIEW OR CHART VIEW
`
`t
`APPLICATION SHOWS
`ALERT STATUS ~·
`1955
`l
`APPLICATION SHOWS ~
`1960
`HELP FUNCTION
`
`l
`APPLICATION SHOWS ~
`1965
`PROFIT OR LOSS
`
`USER SELECTS OTHER
`STOCK FROM STOCK
`SUMMARY DISPLAY
`
`r--1930
`
`t
`
`APPLICATION
`DISPLAYS NEW
`STOCK IN ORDER
`BOOK VIEW
`t
`APPLICATION ~1940
`POPULATES TRADE
`TICKET
`
`~1935
`
`' APPLICATION
`
`DISPLAYS NEWS FOR
`SELECTED STOCK
`t
`USER'S POSITION
`HIGHLIGHTED IN
`POSITIONS WINDOW
`I
`
`1----../1945
`
`-...../1950
`
`FIG.19
`
`

`
`U.S. Patent
`
`Jun.l8,2002
`
`Sheet 21 of 69
`
`US 6,408,282 Bl
`
`USER WANTS TO SEE
`STATUS OF STOCK NOT
`SHOWN IN MASTER TRADE SCREEN
`
`2010
`
`USER CHECKS
`SUMMARY DISPLAY
`
`2015
`
`2020
`
`NO
`
`USER SELECTS
`"QUICK QUOTE"
`FUNCTION
`
`2025
`
`USER SELECTS STOCK
`FROM STOCK SUMMARY
`DISPLAY
`
`APPUCATION POPULATES MASTER
`TRADE SCREEN WITH DETAILED
`DATA ON SELECTED STOCK
`
`2035
`
`USER REVIEWS
`2040 /"\._... STATUS OF STOCK
`
`USER DETERMINES BEST
`PRICE FROM COMPARISON
`PRICE MAPS
`
`FIG.20
`
`

`
`U.S. Patent
`
`Jun.18,2002
`
`Sheet 22 of 69
`
`US 6,408,282 Bl
`
`2150
`
`APPLICATION CHECKS
`FOR ERRORS IN
`TRADE TICKET DATA
`
`USER DECIDES TO
`PURCHASE SHARES
`OF STOCK
`
`2110
`
`2115
`rJ
`USER CHECKS BASIC
`INFO IN SUMMARY
`SCREEN VIEWS
`
`2160
`
`APPLICATION DISPLAYS
`ERROR MESSAGE AND
`RESOLUTION OPTIONS
`
`NO
`
`2130
`
`USER SELECTS
`" QUICK QUOTE "
`FUNCTION
`
`APPLICATION DISPlAYS
`FINAL "VERIFICATION
`SCREEN" (FLASHING)
`
`2125
`
`2170
`
`USER SELECTS
`" SEND ORDER"
`
`2135
`
`2140
`
`2145
`
`USER SELECTS STOCK SYMBOL
`FROM SUMMARY DISPLAY
`
`APPLICATION POPULATES
`MASTER TRADE SCREEN
`AND TRADE TICKET
`WITH STOCK INFO
`
`USER FILLS IN
`REMAINING INFO
`IN TRADE TICKET
`
`USER SELECTS
`"ORDER VERIFICATION "
`
`FIG.21
`
`2180 ...-------L---::---1
`APPLICATION DISPLAYS
`ORDER TRANSMISSION
`STATUS IN MESSAGE
`WINDOW
`
`APPLICATION SHOWS BUY
`ORDER IN OPEN POSITIONS
`WINDOW HIGHLIGHTED
`IN YELLOW
`
`WHEN ORDER IS FILLED AND
`CONFIRMED, BUY ORDER IS
`MOVED INTO POSITIONS AND
`BALANCES WINDOW
`
`USER'S ACCOUNT
`FILES ARE UPDATED
`AND NEW DATA
`IS DISPLAYED
`
`2195
`
`

`
`U.S. Patent
`
`Jun.l8,2002
`
`Sheet 23 of 69
`
`US 6,408,282 Bl
`
`USER DECIDES TO
`SELL STOCK
`
`vv221o
`
`USER SELECTS STOCK
`FROM POSITIONS
`DISPLAY AND SELECTS
`" SELL II BUTION
`
`~2215
`
`APPLICATION POPULATES
`MASTER TRADE SCREEN
`WITH STOCK INFO
`
`,..J2220
`
`2260
`,.J
`USER SELECTS
`" SEND ORDER "
`
`22~
`
`22~
`
`APPLICATION DISPLAYS
`ORDER TRANSMISSION
`STATES IN MESSAGE
`WINDOW
`t
`APPLICATION SHOWS
`SELL ORDER IN OPEN
`POSITIONS WINDOW
`HIGHLIGHTED IN YELLOW
`
`USER FILLS IN REMAINING
`INFO IN TRADE TICKET
`
`,..J2225
`
`22~
`
`USER SELECTS
`"ORDER VERIFICATION"
`
`. _ ~ 2230
`,...._,
`
`22~
`
`WHEN ORDER IS FILLED
`AND CONFIRMED,
`SELL ORDER IS MOVED
`INTO P&L WINDOW
`t
`USER'S ACCOUNT FILES
`ARE UPDATED AND
`NEW DATA IS DISPLAYED
`IN MASTER TRADE SCREEN
`
`r------'--------.,..J 2235
`APPLICATION CHECKS
`FOR ERRORS IN
`TRADE TICKET DATA
`
`2240
`
`t!_2250
`
`APPLICATION DISPLAYS
`YES
`>-------~ ERROR MESSAGE AND
`RESOLUTION OPTIONS
`
`ARE
`THERE
`ERRORS?
`
`NO
`
`APPLICATION DISPLAYS
`" FINAL VERIFICATION "
`SCREEN (FLASHING)
`
`......._
`
`1
`
`.;' 2255
`
`. ._ . . . .
`
`FIG.22
`
`

`
`U.S. Patent
`
`Jun.l8,2002
`
`Sheet 24 of 69
`
`US 6,408,282 Bl
`
`C7
`
`USER MAKES DECISION r-)310
`TO CHANGE VARIABLES
`OF STOCK THAT
`HE HAS IN HIS
`OPEN ORDERS FILE
`
`USER SELECTS STOCK
`FROM OPEN ORDERS
`2315
`DISPLAY AND SELECTS ~
`"CHANGE" BUTTON
`
`2320
`APPLICATION POPULATES
`MASTER TRADE SCREEN ~·
`AND TRADE TICKET
`WITH ALL INFORMATION
`FROM OPEN ORDER
`SCREEN SELECTION
`
`USER CHANGES
`ALLOWABLE INFORMATION
`IN TRADE TICKET AND
`CHECKS FINAL TOTAL
`COST OF TRADE
`
`~2325
`
`2335
`USER SELECTS
`"ORDER VERIFICATION" ~
`
`APPLICATION CHECKS
`2335
`FOR ERRORS IN THE
`DATA ENTERED INTO f-./
`THE TRADE TICKET
`
`FIG.23
`
`'
`
`APPLICATION DISPLAYS
`ERRORS MESSAGE AND
`RESOLUTION OPTIONS
`AND GIVES RULES FOR
`CHANGES
`
`APPLICATION DISPLAYS
`FINAL "VERIFICATION
`SCREEN" {FLASHING).
`USER MAKES FINAL
`DECISION TO SEND
`CHANGE ORDER. USER
`SELECTS
`"SEND ORDER"
`
`f-../234 0
`
`f"../234 5
`
`APPLICATION DISPLAYS
`ORDER TRANSMISSION
`STATUS IN MESSAGE LINE
`WINDOW
`
`f-../2350
`
`APPLICATION SHOWS
`CHANGES IN OPEN
`ORDERS WINDOW ON
`MASTER TRADE SCREEN
`HIGHLIGHTED IN YELLOW
`
`f-../2355
`
`WHEN CHANGES ARE
`CONFIRMED, APPLICATION
`REMOVES YELLOW
`HIGHLIGHT IN OPEN
`POSITIONS WINDOW
`
`....,2360
`
`t-
`r -
`
`SYSTEM UPDATES
`USERS ACCOUNT FILES
`AND CALCULATES NEW
`BALANCES. APPLICATION
`DISPLAYS NEW DATA IN
`MASTER TRADE SCREEN
`WINDOWS
`
`...._......2365
`
`

`
`U.S. Patent
`
`Jun.18,2002
`
`Sheet 25 of 69
`
`US 6,408,282 Bl
`
`START
`
`} 41 0
`US