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:
Sep. 01, 2009
Filed:
Oct. 24, 2006
Romain Rossier, San Francisco, CA (US);
David Vinh LU, Santa Clara, CA (US);
Patrick William Howard, Hoboken, NJ (US);
Sean Michael Gilman, Rye, NY (US);
Cary David Rosenwald, New York, NY (US);
Richard Hartheimer, Morris Plains, NJ (US);
Romain Rossier, San Francisco, CA (US);
David Vinh Lu, Santa Clara, CA (US);
Patrick William Howard, Hoboken, NJ (US);
Sean Michael Gilman, Rye, NY (US);
Cary David Rosenwald, New York, NY (US);
Richard Hartheimer, Morris Plains, NJ (US);
Currenex, Inc., New York, NY (US);
Abstract
A system and method provide price validation for market makers in over the counter (OTC) markets. Specifically, the system compares a new or existing price provided by a market maker with a base rate. If the unilateral difference is less than or equal to a configurable tolerance, the price may be added to validated rates. The unilateral difference is an amount that the new bid source rate is greater than the bid base rate or an amount that the new offer source rate is less than the offer base rate. On the other hand, if the difference is more than the tolerance, the price may be ignored or removed by the system. As a result, the system provides protection against trading on invalid off-market rates or stale rates that is caused by system latency or other types of temporary anomalies.
Data source: USPTO (United States Patent and Trademark Office) public patent records. Weekly synchronization. How IDiyas builds this profile