Patent ID: 6532460
Filing Date: 2003-03-11
Classification: G06Q

Abstract:
A method for canceling orders for securities in an automated securities trading environment, the method comprising the steps of:receiving a new cancellation, the new cancellation comprising an instruction to cancel an order for securities, the cancellation further comprising an order identification; searching a cancellation queue for a cancellation having an order identification equal to the new cancellation's order identification; if no cancellation having an order identification equal to the new cancellation's order identification is found by searching the cancellation queue, placing a copy of the new cancellation in the cancellation queue and sending the new cancellation to a market; if a cancellation having an order identification equal to the new cancellation's order identification is found by searching the cancellation queue, incrementing a redundancy count in the found cancellation and discarding the new cancellation; and periodically, for each queued cancellation having a redundancy count greater than zero, decrementing the redundancy count and sending an additional cancellation to the market.