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:
May. 22, 2018
Filed:
Aug. 18, 2014
Itg Software Solutions, Inc., Culver City, CA (US);
Ronald D. Lee, Merrimack, NH (US);
Mervin C. Newell, Victorville, CA (US);
Scott H. Kurland, New York, NY (US);
Ian P. L. Hoenisch, Windham, NH (US);
James B. Weiner, Newington, NH (US);
Gerald B. Drayer, Lake Grove, NY (US);
Robert L. Sher, New York, NY (US);
ITG SOFTWARE SOLUTIONS, INC., Culver City, CA (US);
Abstract
A post-trade aggregation system includes an allocation middleware interface, which interacts with data interface to allocate and settle trades. An order management system receives a trade order on behalf of a customer and causes apportionment of the trade into a plurality of smaller orders to be transmitted to a plurality of order destinations directly (e.g. via the FIX protocol). The post-trade aggregation system includes an allocation middleware interface which receives the individual trade executions from the plurality of order destination and compresses them into a single average-priced block. The allocation middleware interface then transmits the single average-priced block to be cleared by a designated clearing agent and allocates the single average-priced block into one or more custodian accounts.