Patent ID: 7680722
Filing Date: 2010-03-16
Classification: G06Q

Abstract:
1. A computer-implemented method of trading a security, comprising the steps of: receiving by a computer from a customer a client request to trade a specified number of shares of a specified security; forming by the computer an initial order to trade said security, said initial order having a peg order price being correlated to a current quote for said security; sending said initial order to a trading medium where shares of said security are traded; while said initial order remains open, periodically checking at a predetermined time interval said current quote to determine whether said peg order price needs to be adjusted, said predetermined time interval being varied according to a randomization process; upon determination of a need for adjustment, calculating by the computer a new peg order price correlated to a current quote for said security, said new peg order price being modified from said current quote according to predetermined trading criteria for said security, wherein said predetermined trading criteria comprises a consideration of the direction of a previous peg order price correction; and sending an adjusted order having said new peg order price to said trading medium to replace said open order.