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:
Mar. 11, 2003
Filed:
Jul. 19, 2000
Irfan Amanat, New York, NY (US);
Michael Bundy, Katy, TX (US);
Other;
Abstract
Methods and systems for administering redundant cancellations of orders for securities. Canceling orders for securities in an automated securities trading broker-dealer system. Receiving new cancellations from clients and searching a cancellation queue for cancellations corresponding to the new cancellations. If a corresponding cancellation is found in the cancellation queue, the redundancy count of the corresponding cancellation is incremented in the cancellation queue and the new cancellation is discarded. If a cancellation corresponding to the new cancellation is not found in the cancellation queue, a copy of the new cancellation is placed in the cancellation queue and the new cancellation is sent to the market. Embodiments periodically scanning the cancellation queue for cancellations having a redundancy count greater than zero, decrementing the redundancy count for such cancellations. Some embodiments issue additional cancellations dependent upon receipt of acknowledgments of earlier cancellations. Other embodiments issue additional cancellations dependent upon receipt of rejections of earlier cancellations. Other embodiments provide the capability of canceling orders for securities when an order corresponding to a cancellation is still in a market queue waiting to be sent to a market. Other embodiments include implementing Immediate or Cancel orders (IOC) for markets that do not support IOC orders.