Patent ID: 11887188
Assignee: NYSE GROUP, INC.
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 19:
20. A non-transitory tangible computer-readable medium having computer executable software code stored thereon, the code for improving data throughput on an electronic exchange system, comprising code to:
in the electronic exchange system comprising a programmed computer coupled to one or more participant computers, one or more external market data sources, and a display book system embodied on a computing device and comprising a display, each in communication with the electronic exchange system through a network:
monitor, in real-time by the programmed computer, fluctuations to external market data from the one or more external market data sources;
determine an exchange best bid or offer (BBO) of the electronic exchange system that fluctuates in response to the monitored fluctuations in the external market data;
maintain, by the programmed computer, one or more data values displayed on said display of the display book system and actionable via the display book system, the executable software code further comprising code to cause the programmed computer to:
receive broker interests via the one or more participant computers, the broker interests including a broker interest as instructions to buy or sell a security at a first price with a discretionary price range, a floor price, a ceiling price, a maximum trade size and a maximum discretionary volume size, wherein the maximum discretionary volume size is less than the maximum trade size, the floor price and the ceiling price comprising the discretionary price range,
automatically and continually compare the broker interests to the fluctuating BBO, responsive to the monitored fluctuations,
automatically identify, responsive to the comparing, one or more ineligible broker interests among the broker interests that do not match the fluctuating BBO, said one or more ineligible broker interests ineligible for display via the display book system and therefore ineligible for execution by the programmed computer,
when the one or more ineligible broker interests are within the discretionary price range and prior to the one or more ineligible broker interests being automatically removed from the display of the display book system and becoming unactionable, —automatically correct the one or more ineligible broker interests to match the fluctuating BBO to form one or more corrected broker interests such that said one or more corrected broker interests are displayed by the programmed computer on said display of the display book system as actionable indicators that are continuously actionable, such that selecting at least one of the actionable indicators results in an automatic initiation of a selective execution operation;
automatically remove any of the one or more of the broker interests not corrected by the programmed computer from said display of the display book system such that those broker interests not corrected are unactionable;

receive, by the programmed computer, one or more orders from among the one or more participant computers responsive to a displayed broker interest among the actionable indicators on the display book system; and
selectively execute, by the programmed computer, the displayed broker interest against the received one or more orders for the security, the executable software code further comprising code to cause the programmed computer to:
receive a buy order from among the one or more orders for the security with an order trade price and an order trade size,
determine whether the order trade price is less or is not less than the first price,
determine whether the order trade price is or is not within the discretionary price range,
determine whether the order trade size is or is not greater than a minimum trade size,
determine whether the order trade size is or is not less than the maximum trade size,
trade at least part of the displayed broker interest against the buy order up to the maximum discretionary volume size when it is determined that the order trade price is less than the first price, the order trade price is within the discretionary price range, the order trade size is greater than the minimum trade size and the order trade size is less than the maximum trade size, and
trade no part of the displayed broker interest against the buy order when it is determined that the order trade price is not less than the first price, the order trade price is not within the discretionary price range, the order trade size is not greater than the minimum trade size or the order trade size is not less than the maximum trade size.