Michael A Cormack

Title: Michael A. Cormack: Innovator in Market Center Technologies

Introduction

Michael A. Cormack, based in Evanston, IL, is a renowned inventor with an impressive portfolio of 40 patents. His work focuses primarily on enhancements in market center technologies, specifically aimed at improving order execution and liquidity.

Latest Patents

Among his latest innovations, Cormack has developed a "Tracking Liquidity Order," which introduces a process for market centers, such as exchanges, to fill smaller routable orders that might otherwise be sent away. This innovation effectively increases the liquidity of the posting market center, enabling it to execute a larger volume of orders internally.

Another significant contribution from Cormack is the "Unpriced Order Auction and Routing." This patent details a novel process that allows market centers to conduct auctions featuring unpriced market orders exclusively. By executing these auctions at the midpoint of the National Best Bid and Offer (NBBO), Cormack’s method ensures optimal pricing while mitigating potential manipulations in auction pricing. Notably, this auction process operates concurrently yet separately from the standard continuous matching processes employed in traditional exchanges.

Career Highlights

Michael A. Cormack has built a commendable career, having worked with notable firms such as NYSE Group, Inc. and Archipelago Holdings, Inc. His experience in these leading financial institutions has played a pivotal role in his development as an innovator in market technology.

Collaborations

Throughout his career, Cormack has collaborated with various industry professionals, including Robert A. Hill and Paul D. Adcock. These partnerships have fostered an environment of innovation, allowing for the exponential growth of ideas and technological advancements in the financial markets.

Conclusion

Michael A. Cormack stands out as a significant contributor to the fields of financial technology and market efficiency. His 40 patents, including the groundbreaking tracking liquidity order and unpriced order auction, reflect his ongoing commitment to improving how market centers operate and serve investors. As he continues to innovate, Cormack remains a valuable asset to the trading and financial industry.