Chicago Mercantile Exchange Inc.

Other

International Business Machines Corporation

Paul J Callaway

Ari L Studnitzer

Barry Galster

Paul Andrew Bauerschmidt

Zachary Bonig

Pearce Peck-Walden

Frank Kmiec

Ryan Eavy

José Antonio Acuña-Rohter

Enrico Ferrari

Zuber Shethwala

Robert C Hagemann, Iii

James W Farrell

Dennis M Genetski

Troy Reece

A Shanthi Thiruthuvadoss

William J Albert

Priteshkumar Soni

Kireeti Reddy

Rosa Frenkel

Akira Yamaguchi

Sean Castette

Fritz Caskey

Vijay Menon

James Krause

Sunil Kiran Cutinho

Adrien Gracia

John Curran

Michael E Culhane

Jose Antonio Acuña-Rohter

Jacques Doornebos

Matthew Coffey

Lori Flemm, Legal Representative

Kyle Dennis Kavanagh

Andrew Milne

Brian Wolf

Jake Siddall

Giuseppe Scimeca

Erik Helleren

Dave Salvadori

Ken Silhavy

Martin Stroup

James Wilcox

Troy Reese

Christopher Walsh

Sherry Bryant

Elisa Lugo

Joshua Hoffberg

Arun Kwangil Iyengar

Paul Michael Dantzig

Francis Nicholas Parr

Agnes Shanthi Thiruthuvadoss

Jose Antonio Acuna-Rohter

Stephen M Goldman

Robert C Hageman, Iii

Robert C Hageman

Robert C Hagemann

Iii Robert C Hagemann

Robert C Hagemann Iii

Barry L Galster

Robert C Iii Hagemann

The disclosed embodiments relate to implementation of a trading system, which may also be referred to as a trading system architecture, having improved performance which further assures transactional determinism under increasing processing transaction loads while providing improved trading opportunities, fault tolerance, low latency processing, high volume capacity, risk mitigation and market protections with minimal impact, as well as improved and equitable access to information and opportunities.

Transactionally deterministic high speed financial exchange having improved, efficiency, communication, customization, performance, access, trading opportunities, credit controls, and fault tolerance

The disclosed embodiments relate to regulation of a rate of incoming orders by buffering or otherwise batching orders together as they are received and subsequently forwarding batches of orders to a match engine for processing thereby in a manner which may equalize orders from traders having varying abilities to rapid submit orders or otherwise capitalize on market events. The disclosed embodiments further relate to prioritizing the matching of resting orders against an incoming order. In particular, the disclosed embodiments alter the priority of a given resting order to match against an incoming order, relative to other suitably matching resting orders, as a function of how long the orders have been resting on the order book.

Market operation through regulation of incoming order match allocation and/or dynamic resting order match allocation priorities

Networks, systems and methods for dynamically filtering market data are disclosed. Streams of market data may be buffered or stored in a queue when inbound rates exceed distribution or publication limitations. Inclusive messages in the queue may be removed, replaced or aggregated, reducing the number of messages to be published when distribution limitations are no longer exceeded.

Dynamic market data filtering

The disclosed embodiments relate to communication of messages from a database to participants whereby messages, or at least a portion of the content thereof, indicative of changes in the database, due to one or more transactions between two or more participants, are structured so as to reduce redundant data therein and prioritize the transmission of that portion of the message which summarizes the event and result thereof. Further, these event reporting messages may further consolidate, or otherwise be combined with, the corresponding directed reporting messages communicated to the particular participants participating in the reported transaction while preserving the anonymity of those participants to which messages are particularly directed.

Exchange feed for trade reporting having reduced redundancy

The disclosed embodiments relate to creation and dissemination of unique identifiers, i.e. tokens, for use in communication of messages from a transaction processing system, to participants therein whereby messages, or at least a portion of the content thereof, indicative of a response to a request, to transact or modify a prior transaction, are consolidated, or otherwise combined, with the corresponding directed reporting messages communicated to the particular participants participating in the reported transaction while preserving the anonymity of those participants to which messages are particularly directed. The identifiers are structured so as to facilitate rapid validation and dissemination while eliminating the ability to associate any given identifier, or set thereof, with a participant.

Tokens, and the use thereof, for public distribution of messages having a private association with a subset of the message recipients

A method for generating a prediction of a latency of a transaction processing system includes: sampling a first plurality of messages from a database that stores data indicative of messages previously processed by the transaction processing system including a characteristic and a processing time of each previously processed message; generating latency tables based upon the characteristics and the processing times of the sampled first plurality of messages; determining a characteristic of each of a second plurality of messages being processed by the transaction processing system; selecting, for each of the second plurality of messages, a latency table from the plurality of latency tables based upon the respective determined characteristic; simulating a processing time for each of the second plurality of messages based upon the respective selected latency table; and generating a latency prediction for the transaction processing system based upon the simulated processing times for the second plurality of messages.

Systems and methods for calculating a latency of a transaction processing system

Growing community of inventors

Chicago, IL, United States of America

Paul J Callaway