111111
`
`1111111111111111111111111111111111111111111111111111111111111
`US007685055B2
`
`c12) United States Patent
`Brumfield et al.
`
`(10) Patent No.:
`(45) Date of Patent:
`
`US 7,685,055 B2
`Mar.23,2010
`
`(54) SYSTEM AND METHOD FOR AUTOMATIC
`REPOSITIONING OF MARKET
`INFORMATION IN A GRAPHICAL USER
`INTERFACE
`Inventors: Harris Brumfield, Chicago, IL (US);
`Jens-Uwe Schluetter, Evanston, IL (US)
`Assignee: Trading Technologies International,
`Inc., Chicago, IL (US)
`Subject to any disclaimer, the term of this
`patent is extended or adjusted under 35
`U.S.C. 154(b) by 0 days.
`
`( *)
`
`Notice:
`
`(75)
`
`(73)
`
`(52) U.S. Cl. ........................................... 705/37; 705/35
`(58) Field of Classification Search .............. 705/35-45
`See application file for complete search history.
`
`(56)
`
`References Cited
`
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`(Continued)
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`(22) Filed:
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`(65)
`
`Prior Publication Data
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`US 2006/0265305 AI
`
`Nov. 23, 2006
`
`Related U.S. Application Data
`
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`Mar. 31, 2003, which is a continuation of application
`No. 10/125,894, filed on Apr. 19,2002, now Pat. No.
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`(51)
`
`Int. Cl.
`G06Q 40100
`
`(2006.01)
`
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`Primary Examiner-Richard C Weisberger
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`& BerghoffLLP
`
`(57)
`
`ABSTRACT
`
`A method for automatically positioning information related
`to a commodity on a graphical user interface. Market infor(cid:173)
`mation is displayed on the graphical user interface. The mar(cid:173)
`ket information may be presented as a number of indicators,
`corresponding to particular items of interest, that are associ(cid:173)
`ated with a static scale. The scale may, for example, represent
`price. Upon detecting a predetermined condition, the location
`of the market information is automatically repositioned.
`
`19 Claims, 27 Drawing Sheets
`
`IBG 1001
`CBM of U.S. Pat. No. 7,685,055
`
`0001
`
`

`
`U.S. PATENT DOCUMENTS
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`US 7,685,055 B2
`Page 2
`
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`
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`1112006 Burns
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`1112006 Brumfield et a!.
`1112006 Brumfield et a!.
`
`FOREIGN PATENT DOCUMENTS
`
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`wo
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`wo
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`wo
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`wo
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`wo
`wo
`wo
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`wo
`wo
`wo
`wo
`wo
`wo
`wo
`wo
`wo
`wo
`wo
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`
`

`
`US 7,685,055 B2
`Page 3
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`
`0003
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 1 of27
`
`US 7,685,055 B2
`
`FIG. 1
`
`CONNECTION TO MULTIPLE EXCHANGES
`
`101-..
`':·---------------------···-,,
`
`• • . . . . . . • : • • . ' ' ' I • • • • . • .
`
`I
`
`I
`•
`
`..
`•
`•
`
`J
`
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`.
`•
`'~------------ ·····--------·"
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`:····---------- ···-·---------------------------- ------~-EjViE§~Fii=ifi~----------- ----------···:
`FACILmES 1~ l
`j 104\c:::X:J
`105\c:::X:J
`ROUTER
`ROUTER
`ROUTER
`!
`!
`.
`:
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`
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`B FACILITIES
`
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`1 03-.,
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`:
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`
`• I . . . . ' ' :
`I . . . • • • ' • . . 1 • I . I
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`
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`
`109
`·------·--·-···-----------~---·-··
`y
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`
`0004
`
`

`
`FIG. 2
`
`201
`
`202
`
`206
`
`207
`)
`
`208
`)
`Total'
`
`1
`
`COHO l •
`
`I 785 I
`
`76261
`
`7627 I 21
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`76271 489 I 823--;1
`
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`
`00 u. = u. u. = N
`
`0005
`
`

`
`U.S. Patent
`
`Mar. 23, 2010
`
`Sheet 3 of 27
`
`US 7,685,055 B2
`
`FIG. 3
`
`318
`
`320
`
`~ ,.,
`
`322
`
`324
`326
`
`328
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`-
`
`312 -<
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`
`332
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`31
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`334
`336
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`338
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`342
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`SYCOM FGBL DEC99
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`J 10:48:44 BidQ AskQ Pre LTQ
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`0006
`
`

`
`U.S. Patent
`
`Mar. 23, 2010
`
`Sheet 4 of 27
`
`US 7,685,055 B2
`
`FIG. 4
`
`B[C]r&:J
`SYCOM FGBL DEC99
`10:48:44 BidQ AskQ Pre LTQ
`EIW
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`3
`99
`104
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`63
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`
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`
`97
`96
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`94
`
`93
`92
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`91
`90
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`89
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`88
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`87
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`
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`
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`
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`
`0007
`
`

`
`U.S. Patent
`
`Mar. 23, 2010
`
`Sheet 5 of 27
`
`US 7,685,055 B2
`
`FIG. 5
`SYCOM FGBL DEC99
`EJIQ][ID
`10:48:44
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`506 504 512
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`

`
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`
`STAAT
`
`TRADER HAS MARKET
`DISPLAYED ON HJS
`COMPUTER SCREEN
`
`. 600
`1
`)
`
`' 602
`
`I
`
`I
`
`SET QUANTITY VALUES
`IN APPROPRIATE
`FIELDS fAll FIELD~.
`CURRENT QUANTI IT
`FIELD~etPas. OR
`I
`612 [ OFFSc1.)
`r-------JL..------, r 604
`POSITION CURSOR
`.
`OVER DESIRED CEll
`ON THE MERCURY
`DISPLAY
`
`J
`
`622
`
`• .......__ __
`
`QUANTITY OF
`ORDER::
`1 CURRENT
`QUANTITY
`
`FIG. 6
`
`END
`
`I' 628
`
`SEND BUY ORDER TO
` M~Ker F~R eB~~EFflo
`oF~lroWcUcK~
`
`I.
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`BiiiQ
`
`624
`
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`
`I
`
`626
`
`THIS WILL ADD UP THE O~~TITIES
`FOR EACH ORO
`fN
`MA KE
`THAT WOULD Frt~mJ~ oER B~NG
`ENTERED BY THE T ADE - . . HE
`SUM OF ALL QUAN TIES ik.k.f D~ElTER11
`THE ORDER BEING ENTEAEb
`f~~~~NTITI~S~N
`PRICES B~EA 1--<Piusl----1~----..
`THAN OR EQUAL TO
`~TIJE~
`618
`1-
`614
`lauANTitf OF 1
`ORDER= VALUE
`IN LFIELD
`
`QUANTITY OF
`ORDER;: VALUE
`IN RAELD
`
`SEND SELL ORD~TO
`M AKET FO DE I lED
`ofiANTITY Aij TH PRICE
`OF THE ROW CUCKED
`
`END
`
`___ _ ,620
`I
`
`NetPos
`
`QUANTrTY
`OF ORDER:
`CURAEtvr NetPos
`
`NO ORDER SENT (MAY
`ADJUST QUANiiTIES OR
`OTHER RESTRICTIONS
`DEPENDING ON CELL
`SELECTED)
`END
`
`TRADING WITH MERCURY
`
`0009
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 7 of27
`
`US 7,685,055 B2
`
`700\
`
`"
`
`704 (Price Column)
`
`~~r--~..--r=..-~ - - 702 (L TQ Column)
`
`Blue Highlight
`signifies l TQ
`ticked upward
`from the
`previous l TQ
`price
`710
`
`Red Highlight
`signifies L TQ
`ticked
`downward from
`the previous
`l TQ price
`
`7
`
`.. · ...
`
`1--~ ' ~~;::,~t>1?~.!.,'!,';;:~~';:.; '
`
`0010
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 8 of27
`
`US 7,685,055 B2
`
`Price Packet
`
`( 808
`
`FIG. 8
`
`Price Packet
`
`FIG. 9
`
`0011
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 9 of27
`
`US 7,685,055 B2
`
`FIG. 10
`
`Working
`Quantities
`Column
`
`01 t:st.i:ri~'
`
`004
`
`1002
`
`0012
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 10 of 27
`
`US 7,685,055 B2
`
`FIG. 11A
`
`FIG.11B
`
`Dynamic
`Indicator
`Cotumns
`
`Trader
`Pastes Cell in
`Indicator
`Column
`
`1110
`
`0013
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 11 of 27
`
`US 7,685,055 B2
`
`FIG. 12A
`
`---1200
`
`---~--', ·' .. ,.·._·:
`·· ...
`.-··.:··.
`
`1202
`
`0014
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 12 of 27
`
`US 7,685,055 B2
`
`FIG. 128
`
`----1204
`
`Click on any
`'arrow' cell to
`view quantities
`currently outside
`of the viewable
`
`..
`.. -~
`.
`·.·· ·. . '
`... -... -
`- ...
`
`: .
`
`.
`
`·_· .. · • ..
`
`1206
`
`0015
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 13 of 27
`
`US 7,685,055 B2
`
`FIG. 13A
`
`: J LIFFE-
`
`10:54:04
`
`0
`
`0
`
`.··.:
`
`These Thermometers
`show approximately .
`50% of ~he quantity is(cid:173)
`b_uy quantity and· 5o%·.·,
`is sell quantity.
`
`1300
`
`1302
`
`.. '.;:
`. ::··
`
`'
`
`· .. · --··
`
`. •·
`
`· ·P•erc P-~nd!ng
`.· ..
`-
`. . ... . . :·> : ·.·:\;)~~_.;·· :r!;f~~·;:f;
`
`. . ,.
`
`. . .
`
`~
`
`0016
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 14 of 27
`
`US 7,685,055 B2
`
`FIG. 138
`
`i . ~ .
`
`: :
`
`..
`
`These Thermometers
`show approxim.atelv
`95% of the quantity is
`buy quantity and 5%
`is sell quantity.
`
`1306
`
`1304
`
`-.
`
`-··:
`
`. .... _ .
`
`~.
`
`- ;
`
`0017
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 15 of 27
`
`US 7,685,055 B2
`
`FIG. 14A
`
`FIG. 148
`
`I
`I 10:54:04
`I
`
`··---1 --l <Oefsutt>
`--l 0
`
`0
`
`0
`
`1
`
`Del All
`
`Del Bids
`
`DeiOtfers
`
`+
`
`Indicators move
`farther apart
`when using
`CTRL and scroll
`wheel up
`
`0
`
`rs
`move closer
`together when
`using CTRL
`and scroll
`wheel down
`
`0018
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 16 of 27
`
`US 7,685,055 B2
`
`FIG. 15A
`
`MD Trader Options for UFFE-E ADL D£[01
`
`-
`
`·
`
`-
`
`f3
`
`;GUI Optiont
`
`~ ShowTocti~
`P' ShoW Clock
`~ Show CuStomer Account Corrbobo~e
`
`. ·r.
`
`1500
`
`1502
`
`0019
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 17 of 27
`
`US 7,685,055 B2
`
`FIG. 158
`
`.
`
`'
`
`'·
`10:54:04
`
`------1---~--··.'. •'
`0
`
`0
`·--..,...._-1--. --------·--
`0
`
`' ' ~ .. . ;.: . .. . . .
`... ·
`-·.:
`
`... -
`
`The Price
`Ticks in
`Increments
`of Five
`
`Sell Prices
`Within
`Five Ticks
`ofthe L TP
`
`Buy Prices
`Within
`Five Ticks
`ofthe L TP
`
`0020
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 18 of 27
`
`US 7,685,055 B2
`
`FIG. 16A
`0
`_Sell.
`Q~antity .
`·Column , .-
`. :, ,·
`. ·. .
`.
`.
`
`1
`-
`Buy
`Quantity·,-
`Column_~-
`
`:·::rhe Last- .. 1~02.
`··~:rraciea Price-~" ·
`:--([t_p') coium~_·;:·
`
`~ _h_:;;.:_. -.";_ ..
`
`~ --.;
`
`:'
`
`.
`
`; ... (
`
`70
`
`..__ _ ___, --·- -~- .. -----
`0
`.·--1
`~-, .
`. ---
`.
`11~( \-_,.
`:--."--
`
`s
`
`::.
`
`. ()
`
`-
`
`fl._
`V·
`ll
`
`"
`
`~·
`
`.L ,' ·•··
`
`'. +
`
`.- "!
`
`. ::_
`
`0021
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 19 of 27
`
`US 7,685,055 B2
`
`FIG. 168
`
`MD Trader Options for UFfE-E AOl DE COl
`
`- -
`
`__
`
`:·GUI OptioM--------. - - - - - .
`w SllowTdips ·
`p shot¥ Clock
`P" Show Customer Account-ComboboK
`r Srow IOC Oleckbox
`r -Show Delete A1181Jton
`P' ~towTra~~BlJtan:
`.
`
`.
`
`.
`
`f3
`
`I
`
`OK
`
`Cancel
`
`Forlllat
`[5 U digits for\lla~mgiE~eee..
`rr
`. . .
`
`[
`- - Check Box to
`Enable Track
`Market/
`Automatic
`Grid
`Centering
`Feature
`
`....
`... ~
`.-.. -
`. :,-·
`·' .·,.
`
`_ .. ·~
`;_;· .
`
`! ~i~ii~:ift; ·•·
`
`r Do ''Delete All'' when UQ tounn· Cficked
`r OoS;.;;~~-F!IAcr~~-J .... --~?:;::·:·'.:;:-~/ :·
`., ~ l~tB~~~M~D~~-"~'
`
`~~~::;::::;::;:;::::;::;::::;::::::;::::::::;:::;:::::::;::;:::;;:;::¢::::;:~~
`
`r;; '-P~i.R.e~~o~~':.qfe~j r .. ~:· -_ f ~iW~~.~.aii! : ·-.
`_
`r DeleteTotaiWCxkW!gBuy;/Sels~Ciuolilt)ronButton
`".· --"'·• ·· .-···----·P---·- ---·:-··.-·
`.
`· ··
`-
`· '
`r Delete Bicb/Ofless • 8~an Onl1
`.
`(' Ocl)l!f Woikin; BuysJS ella o:s T e:>Ct and D~ Bidi/Orfers
`asbUtcm'
`
`0022
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 20 of 27
`
`US 7,685,055 B2
`
`FIG. 17
`
`Working Quantity
`of 30 at the Price
`of 102.54
`
`Current
`Working
`Sell
`Quantities
`
`Current
`Working
`Buy
`Quantities
`
`:' ·.
`
`+
`
`.... ;--. _ __,
`
`':·:.;·: :-··:. ',,,··
`
`'~
`
`0023
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 21 of 27
`
`US 7,685,055 B2
`
`FIG. 18
`
`·,· .
`10:54:04
`t------1·. ·····-····· ·-----
`... ----
`
`Average
`Working
`0
`Sell Price
`1-.--~---- .... ---~---- ----- ..
`1806
`0
`._ __ ......,...+ -..-·..---... ·-- ---.... -· .. -- . ....,._, .. --
`0
`-~·--- J
`
`1802
`
`Working
`Quantities
`
`Average
`Working
`B Price
`
`J_;;;;::!lla.-.-"'i: ·. :':' . ·_: ;·, ::,: ~; ·.; {.i -"
`
`1-----,.----"t", .. :~ ~-:;'. f~ ·-.::: t ~-: c\ '•f:-::.~~~~~:~:,-:,; ·
`
`•
`
`0
`
`. . . . .
`
`-~--~ . . . : . . . . . .
`
`0024
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 22 of 27
`
`US 7,685,055 B2
`
`FIG. 19A
`
`FIG. 198
`
`Mid-Point Display
`when there are an
`Odd Number of
`Price Rows
`between the Best
`Bid and Best Offer
`at the time of the
`last re-center
`
`Mid-Point Display
`when there are an
`Even Number of
`Price Rows
`between the Best
`Bid and Best Offer
`at the time of the
`last re-center
`
`1900
`
`902
`
`0
`0 IOC
`
`DetAil
`
`Del Bids
`
`Oet Offers
`
`i
`... ·-· J
`
`0025
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 23 of 27
`
`US 7,685,055 B2
`
`FIG. 19C
`
`-
`
`-
`
`_
`
`t3
`
`Forma---
`[5 ~ d9l: for\1/aki'lg/Exec:..
`ji1 II ~ib lor Priu Dis~
`
`--~~ OK
`
`Carcet
`
`MD Trader Optio111 for UFF£-E AOl D£C01
`r· GUI Qptiorot - - - - - - - - - - ,
`P" Si'¥:lwlcdips
`P" Sl\:wl Cock
`P" Show Cuslcmer Acctull Cootcbox
`r Sl\:w~IOC 01eckbox
`r Si1Jw Delete AI B~Dil .
`P' ShowTradeO~B~
`.. .
`. .
`r Show Bid l~licatoi Colurm
`. r ShoWAP.Ind'iC:ac. CWmn
`P" Cac. Code B~ s~~; ·
`r .:.~MOTr.onTCIP
`r. Do ''Oe~teA!r~·when Lfa CoUrinOi
`
`...
`
`::·.;.
`
`·.
`
`· Uclli:istosi~-
`Check Box to
`Enable 'Highlight !==============~
`Midpoint of Last
`111in9 -
`Recenter'
`rd~ , ..
`Feature
`n (l:"'3)?vis frorrrtaplbt:a~
`_ . l,t:1ido;-: 1--~~KetW~J-.:71_ :: ~ (~\•rt fro~~oplb\:.o:n
`r, Eria51~ G~d:ilecerit,J ;;cr,=.-rg- ;~· ~:s ·
`- -· · ·
`·: st® oit&a. . · -· , . , ,_
`·-----· :---'7-_--~----.
`P" EMili! Stop Market 0 rdeci .· -' .
`P' -EMilia Stop Uri or•~ .. .
`. ..
`. . -Set Stop rml ~ce r. ticb ~om-~~ enby~·
`
`~~s:;;~~~"
`
`r AlowqoneOrde~persideof!Miket:·.·.
`r'·u~l~~~et~;g_;_:/'_·_:i:_{-'
`r E; ·
`_, ..
`
`P' ~le Draoior~ o!\1/akilg Or~
`P' s}Q.,e~dTexi.onei:II~Cc~mn
`, _
`r;· S~row~-~
`
`· ! , .
`
`.. ,··:.·
`
`P OisPai OeletS BlitonsModr.llg Qurity T ~ .
`.
`. r. liP.!i!!!:wllikiiiilm~iJiii!Wii
`t" Delete r Cilal\1/cdq B~els • Qurity on Button
`r Delete Bids/Oifer1 • BtJtan 0~ ·
`·
`.
`('". Displa,Wodr.ing B~.~YSISellt 111 Text~ Delete Bids/CHill•
`at IJJia-,s
`
`0026
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 24 of 27
`
`US 7,685,055 B2
`
`FIG. 20A
`
`: ~ CNE-S ES .lUN02
`
`£1§] EJI:ID I!!!!IGJEJ
`
`. . -:.
`
`-: .~· .
`
`0027
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 25 of 27
`
`US 7,685,055 B2
`
`FIG. 208
`
`MD Tra.deJ Options for UFFE -E ADL DEI:OI
`
`__
`
`rGUI Options
`P' Show T oolip;
`\ P' Show Cock
`i P' Show Cu:tomer
`r Show IOC OteckboK
`r ShowOeleteAJB~
`
`l rFatm4l
`,-----__...._.1........,., I* d9ts lor Waki'lg/Ellec.
`Check Box to
`lld"l!litsrorPtieeOisplejl
`Enable 'Color
`Code Blank
`Spots'
`Feature
`
`13
`
`OK
`
`2002r----. ...
`
`: r Oo'1)e~A!r'~LTQ~cfidid.
`. r OoS~~irt~R~tnck .. '~:.L : __ -
`P' LeftButtm'~iinMcuseOO\VN
`r· Abw o~ one Ofde! pei &ide ci1Mfkeil -:: ·
`r usei~M~P~ ;::/(~
`· .' ...
`r EMbl1 Ke7boaiif~d Fundia! ~ T ~~~
`P. Hig!Wi6_M~ai~ R~ .. ·;::: ..
`
`P EIIC!bie Dr!IOI[licp of Wakllg Or~Jen ·: ·
`P Show B~d T Glll en Bi:YA$k Cokimn
`P' Set row he9U ~
`
`. .
`· . T~ttMethod · •
`· .• I Usi~ UMIT Oule; ~- ll at lid:.s lc ~ew
`. r Using MARKET 0 rder
`. C Enabl!iA.UtOnw: Grid Centerir-4;i
`~
`. :0J:'~ey (T""3 :e;~rd:; · · · · : ·.
`:0 :La~ T~~crl p,;r.e W.+ril2 :. 3 fJ'.'!~ lrGm top/t?~.:r.n
`/r, fmi~~r-.i~rket'M~:·, 12:: .. 3 I<A'tslr;,t~pll;~~o'"
`.r; -Eii'~re:GiiHl~~~e wcr6q
`. .
`.
`~5k)p0rd«s
`,
`....
`P ENble Stop M41ket Orden
`P Etiabl$ S!~» Lin~ Ordett
`
`.
`
`.
`
`. Set Srop liri p1ice r ti:ks ~an stop_~IIJI ~
`
`P' Oil!;iay Delete B11lon:MIIIkilg Ouril, Tctals
`(0 ~~~ill.i:Jiio.iN
`(' Delete T WI Wakilg Blql/Seb -Quariil)t on Button
`C' Delete Sid$/OHers • Bitton Dnljl
`I Di.tpl!rl Working Bu)'t!S ella as Text and Oelele 8 i!:s/011 era
`as !:Ulan~
`
`0028
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 26 of 27
`
`US 7,685,055 B2
`
`FIG. 21
`
`;. .. ·,".:.
`·/;'.
`10:54:04
`1------+ - ---··· ---------·-· .
`<Default>
`.•:
`:.::
`
`- .. · ...
`: ... ·
`
`The Net Price
`ofthe Open
`Position as
`Displayed with a
`Box Around the
`Average Price's
`evel
`Pri
`0
`
`0029
`
`

`
`U.S. Patent
`
`Mar.23,2010
`
`Sheet 27 of 27
`
`US 7,685,055 B2
`
`FIG. 22
`
`Price
`onsolidation
`Slide Control
`2200
`
`0030
`
`

`
`US 7,685,055 B2
`
`1
`SYSTEM AND METHOD FOR AUTOMATIC
`REPOSITIONING OF MARKET
`INFORMATION IN A GRAPHICAL USER
`INTERFACE
`
`This application is a continuation of U.S. patent applica(cid:173)
`tion Ser. No. 10/403,881, filed Mar. 31, 2003, which is a
`continuation of U.S. patent application Ser. No. 10/125,894,
`"Trading Tools for Electronic Trading," filed Apr. 19, 2002
`now U.S. Pat No. 7,389,268, which is a continuation-in-part
`of U.S. patent application No. Ser. 09/971,087, filed Oct. 5,
`2001 now U.S. Pat No. 7,127,424, which claims the benefit of
`U.S. Provisional Application No. 60/238,001, filed Oct. 6,
`2000. U.S. patent application Ser. No. 10/125,894 is also a
`continuation-in-part of U.S. patent application Ser. No. 15
`09/590,692, filed Jun. 9, 2000 now U.S. Pat No. 6,772,132
`and U.S. patent application Ser. No. 09/589,751, filed Jun. 9,
`2000 now U.S. Pat No. 6,938,011, both of which claim the
`benefit ofU.S. Provisional Application No. 60/186,322, filed
`Mar. 2, 2000. U.S. patent application Ser. No. 10/125,894 20
`also claims the benefit pf U.S. patent application Ser. No.
`60/325,553, filed Oct. 1, 2001. The entire content of each of
`the above-referenced applications is incorporated herein by
`reference.
`
`25
`
`2
`Irrespective of the way in which a connection is estab(cid:173)
`lished, the exchange participants' computers allow traders to
`participate in the market. They use software that creates spe(cid:173)
`cialized interactive trading screens on the traders' desktops.
`The trading screens enable traders to enter and execute orders,
`obtain market quotes, and monitor positions. The range and
`quality of features available to traders on their screens varies
`according to the specific software application being run. The
`installation of open interfaces in the development of an
`10 exchange's electronic strategy means users can choose,
`depending on their trading style and internal requirements,
`the means by which they will access the exchange.
`The world's stock, bond, futures, options and other
`exchanges have volatile products with prices that move rap(cid:173)
`idly. To profit in these markets, traders must be able to react
`quickly. A skilled trader with the quickest software, the fastest
`communications, and the most sophisticated analysis can sig(cid:173)
`nificantly improve the trader's own or the trader's firm's
`bottom line. The slightest speed advantage can generate sig(cid:173)
`nificant returns in a fast moving market. In today's securities
`markets, a trader lacking a technologically advanced inter(cid:173)
`face is at a severe competitive disadvantage.
`Irrespective of what interface a trader uses to enter orders in
`the market, each market supplies to and requires from every
`trader the same information. The bids and asks in the market
`make up the market data and everyone logged on to trade can
`receive this information if the exchange provides it. Similarly,
`30 every exchange requires that certain information be included
`in each order. For example, traders must supply information
`like the name of the commodity, quantity, restrictions, price
`and multiple other variables. Without all of the order infor(cid:173)
`mation, the market will not accept the order.
`In existing systems, multiple elements of an order must be
`entered prior to an order being sent to market, which is time
`consuming for the trader. Such elements include the com(cid:173)
`modity symbol, the desired price, the quantity and whether a
`buy or a sell order is desired. The more time a trader takes
`40 entering an order, the more likely the price on which the trader
`wanted to bid or offer will change or not be available in the
`market. The market is fluid as many traders are sending orders
`to the market simultaneously. In fact, successful markets
`strive to have such a high volume of trading that any trader
`45 who wishes to enter an order will find a match and have the
`order filled quickly, if not immediately. In such liquid mar(cid:173)
`kets, the prices of the commodities fluctuate rapidly. On a
`trading screen, this results in rapid changes in the price and
`quantity fields within the market grid. If a trader intends to
`50 enter an order at a particular price, but misses the price
`because the market prices moved before the trader could enter
`the order, the trader may lose hundreds, thousands, even
`millions of dollars. The faster a trader can trade, the less likely
`it will be that the trader will miss the trader's price and the
`55 more likely the trader will make money.
`With the advent of electronic trading, it has become easier
`for a larger number of people to have access to participate in
`the market at any given time. Such an increase in the number
`of potential traders has lead to other changes, including a
`more competitive market, greater liquidity, rapidly changing
`prices, and other changes. Due to the complexities that these
`changes bring, it is increasingly important to have a system of
`making the most accurate and calculated trades possible in
`the most efficient manner. It is therefore desirable for elec(cid:173)
`tronic trading systems to offer tools that can assist a trader in
`adapting to an electronic marketplace, and help the trader to
`make trades at desirable prices.
`
`FIELD OF INVENTION
`
`The present invention is directed to electronic trading.
`Specifically, the present invention is directed to tools for
`trading products that can be traded with quantities and/or
`prices.
`
`BACKGROUND
`
`35
`
`Many exchanges throughout the world utilize electronic
`trading in varying degrees to trade stocks, bonds, futures,
`options and other products. These electronic exchanges are
`based on three components: mainframe computers (host),
`communications servers, and the exchange participants'
`computers (client). The host forms the electronic heart of the
`fully computerized electronic trading system. The system's
`operations cover order-matching, maintaining order books
`and positions, price information, and managing and updating
`the database for the online trading day as well as nightly batch
`runs. The host is also equipped with external interfaces that
`maintain uninterrupted online contact to quote vendors and
`other price information systems.
`Traders can link to the host through at least three types of
`structures: high speed data lines, high speed communications
`servers or the Internet. High speed data lines establish direct
`connections between the client and the host. Another connec(cid:173)
`tion can be established by configuring high speed networks or
`communications servers at strategic access points worldwide
`in locations where traders physically are located. Data is
`transmitted in both directions between traders and exchanges
`via dedicated high speed communication lines. Most
`exchange participants install two lines between the exchange
`and the client site or between the communication server and
`the client site as a safety measure against potential failures. 60
`An exchange's internal computer system is also often
`installed with backups as a redundant measure to secure sys(cid:173)
`tem availability. The third connection utilizes the Internet.
`Here, the exchange and the traders communicate back and
`forth through high speed data lines, which are connected to 65
`the Internet. This allows traders to be located anywhere they
`can establish a connection to the Internet.
`
`0031
`
`

`
`US 7,685,055 B2
`
`3
`SUMMARY
`
`The preferred embodiments relate to a system and method
`for automatic repositioning of market information in a
`graphical user interface.
`In accordance with a first aspect, a method for automati(cid:173)
`cally positioning information related to a commodity on a
`graphical user interface is provided. The method includes
`receiving market information relating to the commodity from
`an electronic exchange. The market information may include
`a number of items of interest that are associated with a price.
`The method displays an information display region, which
`has a number of locations arranged such that each location
`corresponds to a price level along at least a portion of a static
`price axis. The method also displays a number of indicators,
`at a first time. Each indicator is associated with an item of
`interest and each indicator is displayed in one of the locations
`in the information display region. The method further
`includes automatically repositioning the static price axis
`upon detecting a predetermined condition so that the number
`oflocations of the information display region corresponds to
`a different portion of the static price axis at a second time. In
`this manner, the indicators are moved to a new location in the
`information display region that corresponds to the price level
`on the static price axis that is associated with that indicator.
`In accordance with a second aspect, a method for automati(cid:173)
`cally re-positioning market information relating to a com(cid:173)
`modity on a graphical user interface is provided, where the
`method includes displaying a plurality of items of interest
`comprising market information in relation to a static scale in
`a trading interface. At least one item of interest from the
`plurality of items of interest is identified as a basis for auto(cid:173)
`matically positioning the plurality of items of interest. The
`display on the trading interface is updated as the market
`information changes, causing one or more of the plurality of 35
`items of interest to move in relation to the static scale. The
`method then automatically re-positions the plurality of items
`of interest in response to the identified item of interest.
`
`BRIEF DESCRIPTION OF THE DRAWINGS
`
`4
`FIGS.12A and 12B are displays showing "arrow" cells that
`may be used to view items of interest outside the current
`di