Patent ID: 7925570
Filing Date: 2011-04-12
Classification: G06Q

Abstract:
1. A method, executed in a computer system, for opening an electronic market for trading of a security, comprising: receiving by the computer system eligible orders and quotes for the security traded in the electronic market; disseminating an order imbalance indicator message indicative of predicted trading characteristics of the security at the open of trading the order imbalance indicator message including, an indicative clearing price range at which the market open would occur at the time that the indicator message is disseminated, and a percent by which that indicative clearing price range varies from an inside match price; algorithmically determining by the computer system a price or prices at which the maximum shares would be executed; determining which price of those algorithmically determined prices, would minimize any imbalance of eligible orders without trading through an eligible limit order, as a determined opening price; and executing at least some of the eligible orders at the determined opening price.