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. 30, 2010
Filed:
May. 01, 2000
Bang Kim, Englewood, NJ (US);
Slone Jonathan, New York, NY (US);
Bang Kim, Englewood, NJ (US);
Slone Jonathan, New York, NY (US);
Bloomberg L.P., New York, NY (US);
Global Execution Technologies Ltd., Hamilton, BM;
Abstract
A computerized system and method electronically conduct trades in securities, display information corresponding to orders, match the orders, and price the matched orders on the basis of volume-weighted-average price (VWAP). Orders are matched of buyers and sellers who wish to trade designated quantities of securities at a price based on the VWAP for the security in question determined with reference to a defined time period, which is set in advance of order matching, and may consist of an entire trading day on the market on which the security is traded or a portion thereof as determined by the trading parties and/or the disclosed system. VWAP trading is facilitated by displaying, over an output device, orders entered on the 'buy' side and 'sell' side. Trades of matched orders are continuously and/or non-continuously executed and the trades priced after the close of the relevant defined time period at the calculated VWAP.