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. 22, 2013
Filed:
Oct. 07, 2008
Andrew P. Czupek, New Lenox, IL (US);
Bryan T. Durkin, Orland Park, IL (US);
Thomas G. Mccabe, Chicago, IL (US);
Brian M. Wolf, Roselle, IL (US);
Donald M. Cuba, Tinley Park, IL (US);
Jonathan G. Kronstein, Elmhurst, IL (US);
Troy C. Kane, Chicago, IL (US);
Andrew P. Czupek, New Lenox, IL (US);
Bryan T. Durkin, Orland Park, IL (US);
Thomas G. McCabe, Chicago, IL (US);
Brian M. Wolf, Roselle, IL (US);
Donald M. Cuba, Tinley Park, IL (US);
Jonathan G. Kronstein, Elmhurst, IL (US);
Troy C. Kane, Chicago, IL (US);
Chicago Mercantile Exchange Inc., Chicago, IL (US);
Abstract
A method of order allocation is disclosed. The method includes receiving an incoming order, establishing an inner market representing a first portion of an order book which may be defined as a function of an inner market parameter, designating the first portion of the order book as a priority and allocating the first portion of the received incoming order based on the priority, establishing an outer market that represents a second portion of the order book that includes the remainder of the order book not represented by the inner market of the order book, assigning the received incoming order to one of the inner or outer markets as a function of the inner market parameter, allocating a first portion of the incoming order to the inner market utilizing a first-in, first-out (FIFO) algorithm, and allocating a second portion, in excess of the first portion, of the incoming order to the outer market using a pro-rata algorithm.