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WO2006031807A3 - Securities trading system and method - Google Patents

Securities trading system and method Download PDF

Info

Publication number
WO2006031807A3
WO2006031807A3 PCT/US2005/032560 US2005032560W WO2006031807A3 WO 2006031807 A3 WO2006031807 A3 WO 2006031807A3 US 2005032560 W US2005032560 W US 2005032560W WO 2006031807 A3 WO2006031807 A3 WO 2006031807A3
Authority
WO
WIPO (PCT)
Prior art keywords
trading
cost
security
securities
desired trade
Prior art date
Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
Ceased
Application number
PCT/US2005/032560
Other languages
French (fr)
Other versions
WO2006031807A2 (en
Inventor
Kai Huang
Current Assignee (The listed assignees may be inaccurate. Google has not performed a legal analysis and makes no representation or warranty as to the accuracy of the list.)
Susquehanna International Group LLP
Original Assignee
Susquehanna International Group LLP
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Susquehanna International Group LLP filed Critical Susquehanna International Group LLP
Publication of WO2006031807A2 publication Critical patent/WO2006031807A2/en
Publication of WO2006031807A3 publication Critical patent/WO2006031807A3/en
Anticipated expiration legal-status Critical
Ceased legal-status Critical Current

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING OR CALCULATING; COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q30/00—Commerce
    • G06Q30/06—Buying, selling or leasing transactions
    • G06Q30/08—Auctions

Landscapes

  • Business, Economics & Management (AREA)
  • Finance (AREA)
  • Accounting & Taxation (AREA)
  • Marketing (AREA)
  • Development Economics (AREA)
  • Economics (AREA)
  • Entrepreneurship & Innovation (AREA)
  • Strategic Management (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • General Physics & Mathematics (AREA)
  • Engineering & Computer Science (AREA)
  • Theoretical Computer Science (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

The invention relates to the trading of securities [101]. In one respect of the invention, a method of optimizing a desired trade of a security or plurality of securities is provided. The method includes forming a cost equation for the desired trade, wherein the cost equation includes at least one risk factor and a market impact factor associated with each security. The method further includes solving the cost equation to derive a trading solution, wherein the trading solution includes a trading strategy for each security [203]. Preferably the trading solution is provided in the form of a percentage of market volume [105]. In another aspect of the invention, a set of multiple cost equations are provided, with each cost equation having a weight risk factor or set of risk factors. The cost equations are solved to provide a plurality of trading strategies for the desired trade.
PCT/US2005/032560 2004-09-13 2005-09-12 Securities trading system and method Ceased WO2006031807A2 (en)

Applications Claiming Priority (4)

Application Number Priority Date Filing Date Title
US60890404P 2004-09-13 2004-09-13
US60/608,904 2004-09-13
US4985805A 2005-02-04 2005-02-04
US11/049,858 2005-02-04

Publications (2)

Publication Number Publication Date
WO2006031807A2 WO2006031807A2 (en) 2006-03-23
WO2006031807A3 true WO2006031807A3 (en) 2007-02-22

Family

ID=36060637

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US2005/032560 Ceased WO2006031807A2 (en) 2004-09-13 2005-09-12 Securities trading system and method

Country Status (1)

Country Link
WO (1) WO2006031807A2 (en)

Citations (3)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US5950176A (en) * 1996-03-25 1999-09-07 Hsx, Inc. Computer-implemented securities trading system with a virtual specialist function
US6029146A (en) * 1996-08-21 2000-02-22 Crossmar, Inc. Method and apparatus for trading securities electronically
US20020007335A1 (en) * 2000-03-22 2002-01-17 Millard Jeffrey Robert Method and system for a network-based securities marketplace

Patent Citations (3)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US5950176A (en) * 1996-03-25 1999-09-07 Hsx, Inc. Computer-implemented securities trading system with a virtual specialist function
US6029146A (en) * 1996-08-21 2000-02-22 Crossmar, Inc. Method and apparatus for trading securities electronically
US20020007335A1 (en) * 2000-03-22 2002-01-17 Millard Jeffrey Robert Method and system for a network-based securities marketplace

Also Published As

Publication number Publication date
WO2006031807A2 (en) 2006-03-23

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