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. 27, 2007
Filed:
Oct. 15, 2003
Neal Brady, Evanston, IL (US);
Noah Carey, Evanston, IL (US);
William Erwin, Chicago, IL (US);
John Gilmore, Burr Ridge, IL (US);
Michael Quattrocki, Chicago, IL (US);
Frank Stone, Chicago, IL (US);
Mark Thornburgh, West Chicago, IL (US);
Neal Brady, Evanston, IL (US);
Noah Carey, Evanston, IL (US);
William Erwin, Chicago, IL (US);
John Gilmore, Burr Ridge, IL (US);
Michael Quattrocki, Chicago, IL (US);
Frank Stone, Chicago, IL (US);
Mark Thornburgh, West Chicago, IL (US);
Chicago Mercantile Exchange, Chicago, IL (US);
Abstract
A computer network and method for electronically trading derivatives. One preferred method of trading includes providing indicative quotes to market participants (which typically includes subscribers, but may also include market makers) to provide a non-binding indication of how the market makers are likely to price the particular derivative. A participant may then submit an RFQ, which is a request for a binding quote for the derivative. The RFQ preferably causes the current order book to be displayed on all subscribers' terminals, typically in the form of a row indicating the derivative of interest along with the current binding bid and binding ask prices. The indicative bid and ask prices may also be displayed, as well as the quantity (if any) requested in the RFQ. Market participants may then elect to submit an order for the corresponding derivative. Typically, the market participants will await an indication that a market maker has submitted a binding quote.