The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Oct. 01, 2019
Filed:
Sep. 18, 2017
Itg Software Solutions, Inc., Culver City, CA (US);
Ronald D. Lee, Merrimack, NH (US);
Mervin C. Newell, Victorville, CA (US);
Scott H. Kurland, New York, NY (US);
Ian P. L. Hoenisch, Windham, NH (US);
James B. Weiner, Newington, NH (US);
Gerald B. Drayer, Lake Grove, NY (US);
Robert L. Sher, New York, NY (US);
Virtu ITG Software Solutions LLC, Culver City, CA (US);
Abstract
A post-trade aggregation system for financial instrument trading systems, wherein a trader manages a plurality of trade orders to be executed by one or more executing brokers on behalf of customers via a data interface system. The plurality of trade orders includes at least one wrap block order and at least one institutional block order. The plurality of trade orders are merged into a single merged block order, apportioned into a plurality of smaller electronic trade orders, and transmitted to a plurality of order destinations. One or more computer systems are in electronic communication with the data interface system and with a clearing system, and configured to compress individual executions from the plurality of order destinations corresponding to the plurality of smaller electronic trade orders into a single net marked-up step-out for wrap orders and a single average-priced block for institutional orders.