Patent ID: 8332303
Filing Date: 2012-12-11
Classification: G06Q

Abstract:
1. A processor-implemented method for generating quality data associated with an option order, comprising: receiving in a data storage element and processing in a processor an option order to sell or purchase a security, said option order including information identifying a customer, and information identifying a desired option; associating said option order with an order time using said processor; identifying first national best bid and offer (NBBO) data using said processor for said desired option at said order time for said option order of the customer; receiving, after said option order is executed, in a data storage element and processing in a processor exchange-generated execution information associated with said executed option order, said execution information including information identifying an execution price, exchange, and execution time; identifying second NBBO data using said processor for said desired option at said execution time for said option order of the customer, calculating a monetary value indicating the difference between said execution price and said second NBBO data; comparing said execution information associated with said executed option order with said first and second NBBO data using said processor; and taking remedial action relating to the option order, using said processor based comparison of said execution information with said first and second NBBO data.