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:
Feb. 25, 2014
Filed:
Oct. 02, 2012
Chicago Mercantile Exchange Inc., Chicago, IL (US);
Scott D. Banke, Hinsdale, IL (US);
Stanislav Liberman, Vernon Hills, IL (US);
Neil A. Lustyk, Lisle, IL (US);
James Bailey, Hanover Park, IL (US);
Ashraf Ansari, Park Ridge, IL (US);
Pearce Peck-Walden, Chicago, IL (US);
John Scheerer, Frankfort, IL (US);
Haifeng Zheng, Wilmette, IL (US);
Matthew J. Kelly, Western Springs, IL (US);
Brian M. Wolf, Roselle, IL (US);
Troy C. Kane, Chicago, IL (US);
Chicago Mercantile Exchange Inc., Chicago, IL (US);
Abstract
The disclosed embodiments relate to mechanisms to rapidly detect and respond to situations where a market is not operating in a fair and balanced manner or otherwise where the market value is not reflective of a true consensus of the value of the traded products among the market participants. In particular, the disclosed embodiments continually scan for, rapidly detect and respond to extreme changes, either up ('spike') or down ('dip') in the market, such as a “flash crash,” where a precipitous market move occurs. Generally, the disclosed embodiments determine when a market for a particular product moves too quickly in too short of period of time, e.g. the velocity of the market exceeds a defined threshold limit.