Patent ID: 8244621
Filing Date: 2012-08-14
Classification: G06Q

Abstract:
1. A method for providing a user with a security trading environment using a computer system, adapted to initiate trade executions and display information relating to securities, the method comprising: providing, using the computer system, the user a separate trading window on a computer display, wherein the trading window contains one or more drop down menus; displaying, within the trading window on the computer display, level I and level II security information for a security selected by the user, wherein the level I security information comprises a symbol data, a tick data, a bid data, an ask data, a spread data, a change data, a last data, and a volume data, wherein the level II security information comprises an ask side information and a bid side information, wherein the ask side information comprises a first plurality of market participants from a first plurality of market participant types, a number of shares available for each of the plurality of market participants, and an ask price corresponding to each number of shares, and wherein the bid side information comprises a second plurality of market participants from a second plurality of market participant types, a second number of shares available for each of the second plurality of market participants, and a bid price corresponding to each second number of shares; displaying, within the trading window on the computer display, input fields that accept input from the user to initiate orders for trade executions, wherein the orders for trade executions are sent by the computer system to a server system in a first format, further wherein the server system, for each order for a trade execution, performs the steps of: determining availability and price of the security at each of a plurality of market participants to create a list of available shares of the security comprising the available quantity and price of the security at each of a plurality of market participants; ranking the available market participants having a same price of the security based on a price penalty, the price penalty being based on market participant type, quantity of shares of the security, and a known fill speed at which orders are executed for each of the available market participants having the same price; determining an appropriate market participants for the order for a trade execution, based upon the ranking of the available market participants, and parsing each order for a trade execution into a plurality of automated suborders, wherein each suborder in the plurality of suborders is for an appropriate market participant and is in a proprietary format appropriate for the respective appropriate market participant, sending each suborder to a respective one of the market participants, the one of the subset of the plurality of market participants selected for each suborder having a best available price such that if all of the suborders are filled, at the best available price for each suborder, the best price is obtained for that order, wherein: