Patent ID: 7844524
Filing Date: 2010-11-30
Classification: G06Q

Abstract:
1. A non-transitory computer readable medium having stored therein instructions executable by a processor to perform a method comprising: submitting by a computing device a plurality of orders for a tradeable object to an electronic exchange, wherein each order of the plurality of orders comprises an order quantity at a different price level and is on a same side, and wherein the plurality of orders are placed in an exchange order book; receiving by the computing device a command to initiate a sweep order for the tradeable object comprising an order quantity to be sent to the electronic exchange, wherein if submitted to the electronic exchange, the sweep order would take an opposite side from the plurality of orders such that at least a portion of the order quantity for the sweep order would be matched with at least a portion of the order quantity for each of the plurality of orders; automatically sending by the computing device a delete transaction message to the electronic exchange to delete quantity remaining in the exchange order book associated with the plurality of orders in response to receiving the command to initiate the sweep order to prevent the plurality of orders and the sweep order from crossing at the electronic exchange, wherein the delete transaction message is sent prior to sending the sweep order; automatically adjusting by the computing device the order quantity of the yet to be sent sweep order by subtracting from the order quantity for the sweep order the deleted quantity associated with the plurality of orders at each price level for which the sweep order is to be executed; and submitting by the computing device the sweep order to the electronic exchange, wherein the sweep order comprises the adjusted order quantity.