Abstract:
Systems and methods for configurable trading interfaces that allow a trader to quickly and easily submit trading commands to a trading system are provided. Using these systems and methods, a trader can using various trading interfaces to initiate trading commands, configure various display features and default command settings, and control a level of command entry verification that is provided to protect against inadvertent entry of incorrect trading commands.

Description:
CROSS REFERENCE TO RELATED APPLICATION 
     The present application is a continuation of U.S. patent application Ser. No. 09/745,651, filed Dec. 22, 2000, entitled “Systems and Methods for Providing a Trading Interface”; which claims the benefit of U.S. Provisional Patent Application Ser. No. 60/171,442, filed Dec. 22, 1999, each of which is hereby incorporated by reference herein in its entirety. 
    
    
     BACKGROUND OF THE INVENTION 
     This invention relates to systems and methods for providing a trading interface. More particularly, this invention provides a trading interface that allows a trader to use a pointing device such as a mouse to execute a trade quickly and accurately. 
     As electronic trading becomes more popular, an increasing number of traders are in need of new systems and methods to enter trade commands in a quick, efficient, and accurate manner. In one method of electronic trading, bids and offers are submitted by traders to a trading system, those bids and offers are then displayed by the trading system to other traders, and the other traders may then respond to the bids and offers by submitting sell (or hit) or buy (or lift or take) commands to the system. 
     Many implementations of this method of electronic trading, while generally accurate, lack in desired speed mainly because traders are forced to use both a standard PC keyboard and a mouse to execute a trade. This dual process causes much delay for traders because the traders must follow several steps prior to accomplishing a trade. For example, many traders using typical trading systems are required to (1) click on an issue of choice, (2) click on a buy or sell button, and (3) use the keyboard to enter a price and size for the trade. 
     The benefit of using a keyboard to execute a trade is that a trader may execute a trade with a great deal more speed than with a mouse. Specifically, with a keyboard, the trader may use all ten fingers, while with a mouse the trader may use two fingers at most. 
     Despite the drawbacks associated with using a mouse, many traders continue to use a mouse because it is considered easy to use, and thus traders feel that they are less likely to make unwarranted trading mistakes with a mouse. Because trading professionals frequently have large amounts of money at stake when trading, many professionals prefer to forgo speed and efficiency for peace of mind. 
     While mouse-based interfaces have existed for years, these interfaces have put traders using them at a disadvantage when competing with full-time keyboard traders. One reason the existing mouse-based interfaces place those traders at a disadvantage is that those traders are forced to physically move a mouse pointer from an indicator for a desired instrument, that is at some given point on a trading screen, to some other point on the screen where bidding/offering and buying/selling commands can be entered. This approach is very time consuming. 
     Thus, it is an object of the invention to provide systems and methods that enable a trader to execute trades quickly, efficiently, and accurately using a pointing device interface. 
     SUMMARY OF THE INVENTION 
     In accordance with this and other objects of the invention, systems and methods provide configurable trading interfaces that allow a trader to quickly and easily submit trading commands to a trading system. More particularly, in accordance with this invention, the trader can use various trading interfaces to initiate trading commands, configure various display features and default command settings, and control a level of command entry verification that is provided to protect against inadvertent entry of incorrect trading commands. 
     In order to initiate a trading command using the present invention, a trader may enter the command using a command-line interface, click on a component of a bid and offer in a market cell, enter the command using a graphical interface, or may click on a piece of data in a data window. After initiating a command from a command-line interface, a market cell, or a data window, the present invention may verify the entry by presenting a graphical interface. This interface may be the same graphical interface that may be used to enter a trading command. In addition to displaying the graphical interface, a mouse pointer may be redirected to a portion of the graphical interface to speed up entry of the trading command. After initiating the command, but before completing the command, a trader may then alter the parameters of the command either to complete entry of the parameters or to correct one or more incorrect entries. 
     To enable customization of the graphical interface to a trader&#39;s preferences, settings controls are provided. These controls may enable the trader to set a preferred order type, cause the graphical interface to automatically close after a trade command has been entered or canceled, display a history of trade commands, set the trade item type, set how bid and offer information is displayed, set how default prices, sizes, and limits, and set position and color preferences. 
     As will be apparent upon reading the Detailed Description of the Preferred Embodiments, various features of the present invention may be implemented with any type of trading system for the trading of any type of item. For example, as illustrated herein, the invention may be used with a bid/offer, buy/sell trading system for trading of financial instruments, such a bonds. Likewise, as another example, the invention may be used with a matching system, wherein bids and offers are submitted by various traders and matched, for the trading of other items, such a materials and supplies for manufacturing. 
    
    
     
       BRIEF DESCRIPTION OF THE INVENTION 
       The above and other objects and advantages of the invention will be apparent upon consideration of the following detailed description, taken in conjunction with the accompanying drawings, in which like reference characters refer to like parts throughout, and in which: 
         FIG. 1  is an illustration of a market cell that may be generated in accordance with certain embodiments of the present invention; 
         FIG. 2  is an illustration of a dialog window that may be generated in accordance with certain embodiments of the present invention; 
         FIGS. 3 and 4  are illustrations of system settings windows that may be generated in accordance with certain embodiments of the present invention; 
         FIG. 5  is an illustration of a display settings window that may be generated in accordance with certain embodiments of the present invention; 
         FIG. 6  is a flow diagram of a main process that may be used to perform the functions illustrated in  FIGS. 1 and 2  in accordance with certain embodiments of the present invention; 
         FIG. 7  is a flow diagram of a settings process that may be used to configure settings illustrated in  FIGS. 1-5  in accordance with certain embodiments of the present invention; 
         FIG. 8  is an illustration of an entry window that may be used to select items to be traded using the dialog window of  FIG. 2  in accordance with certain embodiments of the present invention; 
         FIG. 9  is a flow diagram of an entry window process that may be used to interface the entry window of  FIG. 8  with the dialog window of  FIG. 2  in accordance with certain embodiments of the present invention; and 
         FIG. 10  is a block diagram of a system that may be used to implement the processes and functions illustrated in  FIGS. 1-9  in accordance with certain embodiments of the present invention. 
     
    
    
     DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS 
     Turning to  FIGS. 1-4 , examples of screen displays that may be presented in certain embodiments of the present invention are illustrated.  FIG. 1  shows a market cell  100  that may be used to display one or more bid and/or one or more offer  101  for an item to be traded. As illustrated, bid and offer  101  indicates a price  102  which a buyer is willing to pay for a selected item  103  at a given size  106  (i.e., a number of the item) and a price  104  which a seller is willing to accept for selected item  103  at a given size  108 . 
     Each component of a market shown in market cell  100  may be marked with a color, or in any other suitable manner, to indicate features of that component. For example, as shown in  FIG. 1 , the entire area of fields  102 ,  103 ,  104 ,  106 , and  108  may be colored, or only the symbols in those fields may be colored, to assign a meaning to each field. As a further example, a specific color may be assigned to field  102  to indicate that a price in the field is a bid price. Preferably, a trader is able to specify the color assigned to each component of a trade. The fields, or symbols contained therein, may be continuously colored or may be shown in a chosen color when a mouse pointer is passed over each field or used to click on each field. 
     In order to bid for, offer to sell, buy, and/or sell an item through market cell  100 , a trader may submit a trading command indicating the action to be taken using various approaches. For example, in preferred embodiments, a trader may submit the trading command using a command-line interface, by clicking on components of bid and offer  101 , and/or using a graphical interface. 
     When using a command-line interface, a trading command may be entered in any non-graphical interface desired. For example, a trader may submit a trading command by pressing buttons on a keyboard. Likewise, a trader could use a voice recognition system to enter commands verbally, or a trader could use some combination of voice recognition, keyboard, and pointing device. 
     A trader may also indicate a desire to bid, offer, buy, and/or sell an item by clicking on different portions of a bid and offer  101  for that item in market cell  100 . For example, if the trader clicks on bid price  102 , the trader may indicate to submit a bid for the item. If the trader clicks on offer price  104 , the trader may indicate to submit an offer for the item. If the trader clicks on bid size  106 , the trader may submit a command to sell the item. And, if the trader clicks on offer size  108 , the trader may submit a command to buy the item. 
     Preferred embodiments of the present invention may allow a trader to use different levels of mouse button entries to initiate a trading command. That is, for flexibility, this invention may allow a trader to determine how many clicks on components of bid or offer  101  using a button of a mouse are required before the trader either bids for, offers to sell, buys, and/or sells an item corresponding to the market cell. For example, for maximum speed and slightly more risk, the trader may choose that a market be acted upon after a single click on a component of bid or offer  101 . Likewise, a trader may choose to use a double click on a market before it is acted upon. 
       FIG. 2  illustrates one embodiment of a graphical interface for submitting trading commands. As shown, the graphical interface comprises a dialog window  200  with various buttons and entry fields  202 - 242 . Using these buttons and entry fields, a trader may submit a bid command, an offer command, a buy command, or a sell command for an item corresponding to a market cell  100 . Preferably, each traded item uses a unique dialog window  200 . Dialog window  200  may be opened automatically and/or manually before, during, and/or after a trade, and may allow a trader to submit a trade command at any time. The dialog window may be repositioned on a trader&#39;s display and/or fixed in place. The trader, preferably, will keep the window associated with a particular instrument below the market cell  100  for the same tradable item. The number of dialog windows  200  that can be kept open at any one time is preferably unlimited. 
     As shown in  FIG. 2 , dialog window  200  may comprise a variety of on-screen buttons and entry fields. Generally, a button, as displayed in box  200 , may be “pushed” by placing a pointing device&#39;s pointer over the button and pressing a switch on the pointing device, as is commonly known in the art. At the center of window  200 , a numeric keypad  202  may be displayed. The numeric keypad  202  may provide buttons for numbers zero through nine, and may contain buttons for numbers ten, twenty-five, fifty, and one hundred or any other suitable or desirable values. The numeric keypad  202  may also contain a plus button (“+”), a minus button (“−”), a decimal point button (“.”), a backspace button (“BKS”), and a delete button (“DEL”). 
     In addition to displaying a numeric keypad as described above, dialog window  200  may also provide a user with a buy button  204 , a sell button  206 , a cancel buys button  208 , a cancel sells button  210 , a bid button  212 , an offer button  214 , a cancel bids button  216 , a cancel offers button  218 , cancel all buttons  220 , cancel all for all instruments button  222 , a price entry field  224 , price up and down buttons  226 , bid price up and down buttons  228 , offer price up and down buttons  234 , a size entry field  230 , and size up and down buttons  232 . Finally, dialog window  200  may contain a preference field  236  that allows a user to specify preferred types of orders, a close-on-action box  238  that causes dialog window  200  to be automatically closed after specified actions are performed, a configure keypad button  240  that allows a user to arrange the keypad for dialog window  200 , a close button  242  that closes the dialog window  200  on demand, a settings button  241 , and a display history button  243  that causes a history list of order entries to be display when pressed. 
     Preference field  236  may be used to indicate the user&#39;s preferred trade type and may allow the user to select any type of trade that a particular exchange or trading system supports. Although  FIG. 2  provides specific examples of trade types (e.g., good-till-canceled (GTC), limit, all-or-none (AON), stop, and market-if-touched (MIT)), the invention may be implemented with any type of trade. 
     Configure keypad button  240  may allow a trader to arrange buttons appearing in dialog window  200  to be anywhere a trader prefers by first pressing the configure keypad button  240 , by then dragging the buttons to new positions, and finally by clicking on button  240  again. Also, the configuration or re-configuration of buttons can change the function of those buttons depending on the type of trading desired or what type of item is being traded. 
     Although any of the approaches described herein to submitting a trading command may be used independently of the others, two or more approaches may also be used in conjunction. For example, when using a command-line interface, an entry verification feature of the present invention may display a graphical interface to confirm a trader&#39;s intentions after a command-line trade command has been entered. Similarly, as another example, after clicking on a component of a bid and offer  101  in a market cell  100 , an entry verification feature of the present invention may display a graphical interface to a trader to allow the trader to alter and/or confirm the command being submitted. 
     To speed entry of a trading command when using various approaches to submit a trading command in conjunction, the present invention preferably includes a pointer warping feature that redirects the focus of the pointing device pointer to another location of the trader&#39;s display. In accordance with this feature, for example, when a trader clicks on a bid price  102  ($100.21 as depicted in  FIG. 1 ) in a market cell  100 , a dialog window  100  may pop-up (if not already open), and a pointer that is being used by the trader may be immediately redirected to a bid button  212  to save the trader the time of repositioning the pointer to that location. Once in the new location, the trader may then use the pointer to confirm and/or modify the trade command and then submit the trade command using bid button  212 . Although this feature of the present invention is described in connection with a pointing device pointer, this feature may be implemented using any suitable graphical interface pointer, cursor, or similar object. 
     Assume instead that, in the previous example, the trader wants to increase bid price  102  to $100.22. When the appropriate trade submission approaches are used in conjunction, the trader may click anywhere on the displayed bid and offer  101 , and thereby cause dialog window  200  to appear. At this point, the trader may press bid button  212  once and thereby cause bid price  102  ($100.21 as illustrated in  FIG. 1 ) to appear in price entry field  224 . To increase bid price  102  from $100.21 to $100.22, the trader may then press price up button  226 , or press bid price up button  228 . When dealing with an offer, the trader may press offer price up button  226  or press price up button  234 . Because time is typically of the essence, the trader will preferably use bid price up button  228  or offer price up button  234  because it is closer to bid button  212 . Finally, to submit the bid, the trader may click on bid button  212  again to submit the bid. Alternatively, if the trader didn&#39;t want to alter the price, the trader could have double clicked immediately on bid button  212 . 
     After any trade command is entered by pressing bid button  212 , offer button  214 , buy button  204 , or sell button  206 , the mouse pointer may then be maintained in its position above the just-pushed button in case the trader wants to repeat entry of the same trade command shortly thereafter. 
     As indicated above, a trader may never need to type a full price in field  102 . Instead, a trader may configure the dialog window to automatically post in price entry field  224  either the current bid or offer price or a pre-programmed-increment-better bid or offer price of a bid or offer that the trader clicks on. Alternatively, a trader may point to each individual number or quantity (i.e., 0-9, 10, 25, 50, or 100) in keypad  202  and, in effect, input the desired price (or size) using a mouse. 
     In order to enter a size for a bid, offer, buy, or sell command, a trader may either choose to use a pre-programmed default size or adjust the size of a trade in size entry field  230 . When the trader is either bidding or offering, size entry field  230  preferably will initially always show a pre-set size amount as configured by the trader. To increase or decrease the size, the trader may either push the size up or size down buttons  232 , or delete the size and enter a new size using the keypad  202 . 
     Preferably, by default, size entry field  230  is filled with a selected bid or offer&#39;s size and highlighted when dialog window  200  is opened in response to a trader clicking on the selected bid or offer size. By highlighting the size entry field  230 , a trader may change the size by simply pushing any of the buttons on keypad  202  without first highlighting and/or deleting numbers in that field. Once a desired size is entered, a trader may then push sell button  206  or buy button  204  and submit an order to sell or buy the size appearing in size entry field  224 . 
     Another way for a trader to bid is to choose an instrument and a size and then press bid button  212  without designating a price. By entering a bid in this manner, the trader simply joins the best bid that appears on the trader&#39;s screen for that instrument. Although this approach to entering a bid is extremely easy and fast, a trader is risking that in the moment just prior to pressing bid button  212 , the bid price appearing on the screen may change and thus force a trader to use the new price. Should this occur, a trader may press the cancel bids button  216  and re-enter a desired bid using the method described above. 
     As mentioned above, an entry verification feature of the present invention may be used in conjunction with a command-line interface or a click on bid or offer interface to cause a graphical interface to be presented after a trader submits a command-line trade command or a clicks on a component of a bid or offer. For example, if using a command-line interface, a trader submits a command to bid at a certain price for a certain size, a dialog window  200  may automatically appear (if not already shown), price and size fields  224  and  230  may be populated with the certain price and the certain size, and the pointer may be warped to just above bid button  212 . The trader can then press bid button  212  to confirm the command or alter the price and/or size as described above. 
     Although the illustrations above are discussed in connection with bidding for and buying of an item, it should be obvious to those of ordinary skill in the art that the same features of the present invention are available in the offering for and selling of an item. Offer and sell buttons may be used instead of bid and buy buttons to offer and sell, respectively, an item. 
       FIG. 3  shows a system settings screen  300  that may be presented upon a trader pressing “settings” button  241  in dialog window  200  or a corresponding function key. In order for preferred embodiments of the present invention to operate ideally for a trader, the trader may have to configure at least one setting in systems settings screen  300 . Systems setting screen  300  may comprise a “more settings” button  302 , an item type selection field  304 , input preference settings  306 , display preference settings  308 , an on-startup preference setting  310 , an “OK” button  312 , and a “Cancel” button  314 . 
     Within the item type selection field  304 , a trader may select a preferred item type by indicating a type of item to be traded. For example, as illustrated in  FIG. 3 , item type selection field  304  indicates that the item to be traded is a 5 year U.S. Treasury bond. Other available item types, including financial instruments, bets or wagering instruments, or other tradable items, however, may be displayed and selected using a drop-down list associated with item type selection field  304 . 
     Input preference settings  306  may allow a trader to enable or disable the entry verification feature, use short codes to facilitate futures contracts transactions (when futures contracts are a tradable item), open dialog window  200  when a single click is entered on a bid or offer, select whether an entered size is treated as a total size or an incremental size, and select whether a price is displayed in 32nds format or decimal format. 
     Display preference settings  308  may enable a trader to specify how bids and offers are displayed. More particularly, preference settings  308  may allow a trader to indicate whether to display a current instrument in a market cell  100 , whether to display the current instrument by name or description, whether to list sizes for various bids and offers in the market cell, whether to display the net position in the market cell, whether to display scroll bars for the market cell, whether to display executing orders for the instrument first in the market cell, and whether to allow the trader to configure other display preferences by pressing “more display settings” buttons. An on-startup preference setting  310  may enable a trader to indicate whether trades from a previous trading session are loaded into the trade history upon start-up of dialog window  200 . Finally, an “OK” button  312  and a “Cancel” button  314  may be provided to enable a trader to indicate whether to accept recently inputted changes or cancel the changes, respectively. 
     If, from systems settings screen  300 , a trader presses “more settings” button  302 , a second settings screen  400  may be displayed as shown in  FIG. 4 . As can be seen, second settings screen  400  may provide the trader with an ability to specify, using trade preferences, whether to buy or sell all  402  of the size of an offer or bid as displayed, or, regardless of the displayed size, to buy or sell a certain pre-designated size (Buy/Sell Partial Size  404 ) when clicking on a security in a market cell. Likewise, second settings screen  400  also permits the trader to specify a default size  406  for bids and offers, a default size increment  408  for bids and offers that will be used for size up/down button depressions, and a default price increment  410  for bids and offers that will be used for price up/down button depressions. 
     Second settings screen  400  also allows the trader to specify limits to prevent accidental entry of a command for a price or size that is outside a reasonably expected range. By selecting box  412 , the trader may enable a confirmation alert that prompts the trader for authorization to submit a command for a size larger than the limit (previously selected by the trader or set by the system based on the trader&#39;s previous trading history and the traded item&#39;s overall market history). By selecting and setting a bid/buy price limit  414  and an offer/sell price limit  416 , the trader may also specify a maximum bid/buy price and a minimum offer/sell price. 
     Finally, as shown in second settings screen  400 , the trader may select whether to automatically populate a bid/offer with a last trade price or a last bid/offer price using entry verification preferences  418  and  420 . 
     Once a trader has completed setting the preferences, a trader may submit the preferences by pressing an “OK” button  422  or cancel the preferences by pressing a “Cancel” button  424 . 
     If a trader presses the “more display settings” button in display preferences  308  of settings screen  300  of  FIG. 3 , display settings screen  500  may appear to allow the trader to specify screen colors, window positioning, and other display functions. By selecting “ON” button  502 , a trader may choose to highlight a particular field of the dialog window whenever the pointing device passes over that field. Thus, for example, when a user passes a pointer over the price field, the field will automatically be highlighted while the system awaits user input into that field. The trader may turn this function off by pushing “OFF” button  804 . 
     In addition to dragging the window and placing it in a preferred area on the screen, a user may set the default position of market cell  100  and dialog window by using pull-down menus  506  and  508 . Specifically, the position of the market cell may be selected using market cell menu  506 . Menu  506  may allow a trader to drag the main trading window to any position on the screen and thereafter use that position as the default position for the main trading window, to select a quadrant of the screen, or to select any other desired portion of the screen. Dialog window menu  508  may allow the trader to select the position of the dialog window using menu options similar to those described for market cell menu  506 . 
     Display settings screen  500  also allows a user to select the color or other characteristic (e.g., blinking text, font size, etc.) of the bid or offer. A trader may select bid menu  510  to select a color or other display characteristic for the bid. Offer menu  512  may be selected to select the color or other display characteristics for an offer. Similar options may be implemented to allow a trader to select the color and other display factors for all parameters of a trade. 
     Finally, “OK” button  514  and “Cancel” button  516  may be used to either confirm changes or cancel the changes selected on display settings screen  500 , respectively. 
     Although illustrated in a particular fashion for trading particular types of items, the present invention, and thus the interfaces shown in  FIGS. 1-5 , may be altered to facilitate trading of any type of tradable items. 
     One embodiment of a main process  600  that may be used to control the presentation of the interfaces illustrated in  FIGS. 1-5  is illustrated in  FIGS. 6A-6C . As shown in  FIG. 6A , once process  600  has begun at step  602 , the process may load trading interface settings at step  604 . The setting loaded at step  604  may include all of the settings configurable through screens  200 ,  300 ,  400 , and  500 , and any other suitable settings. Once these settings are loaded, process  600  may display a dialog window  200  at step  606 . Based upon the settings loaded at step  604 , process  600  then determines whether the item configured to be traded in dialog window  200  is to be displayed in a market cell. If it is, then process presents a market cell  100  at step  610 . Otherwise, or after displaying the market cell, process  600  proceeds to step  612  where the process waits for trader input. 
     Once trader input has been received at step  612 , process  600  determines whether the trader pushed settings button  241  in dialog window  200 . If the trader did push the settings button, then process runs a settings process at step  616 . An example of a settings process is shown in  FIG. 7 . Once the settings process is completed, process  600  proceeds back to step  612  to wait for more trader input. If process  600  determines that the trader did not push the settings button at step  614 , however, then process  600  proceeds to step  618  to determine if the trader pushed a bid button  212 , an offer button  214 , a buy button  204 , or a sell button  206 . If the trader did push one of these buttons, then the corresponding order is placed at step  620 . Otherwise, process  600  proceeds to step  622  to determine if the trader pushed one of cancel buttons  208 ,  210 ,  216 ,  218 ,  220 , or  222 . If so, then process  600  cancels the corresponding orders that can be canceled at step  624 . Once an order has been placed at step  620 , or orders have been canceled at step  624 , process  600  determines at step  626  whether “close on action” box  238  is checked in dialog window  200 . If not, process  600  loops back to step  612 . Otherwise process  600  closes dialog window  200  at step  628  and then proceeds to step  612 . 
     If, at step  622 , process  600  determines that the trader did not push a cancel button, however, then process  600  proceeds to step  634  as shown in  FIG. 6B  via link  630 . At step  634 , process  600  determines whether the trader pushed a price or size up or down button  226 ,  228 ,  232 , or  234 . If the trader did push one of these buttons, process  600  changes the price or size accordingly at step  636  and then loops back to step  612  via link  632 . Otherwise, process  600  proceeds to step  638  to determine if the trader pushed a button on keypad  202 . If the trader did push one of these buttons, then the process changes the value of either the price or size highlighted accordingly at step  640  and then loops back to step  612  via link  632 . If the trader did not push one of the keypad buttons, process  600  next determines at step  642  whether the trader entered a value in price or size field  224  or  230 . If the trader did enter a value, then process  600  changes the value in that field accordingly at step  640  and loops back to step  612  via link  632 . 
     If process  600  determines at step  642  that the trader did not enter a value in one of the price or size fields, then process  600  determines at step  644  whether the trader changed the trade type preference  236 . If the trader did change this preference, the trade type preference is changed at step  646  and process  600  loops back to step  612  via link  632 . Otherwise, process  600  determines at step  648  whether the trader pushed configure keypad button  240 . If the trader did push this button, then the process allows the trader to drag buttons in dialog window to new locations until the trader pushes the configure keypad button again. The new locations of the relocated buttons are then stored as settings for dialog window  200  that are loaded at step  602  and used to define the button locations each time the dialog window is opened. 
     If process  600  determines at step  648  that the trader did not push the configure keypad button, then process  600  proceeds to step  654  via link  652 . At step  654 , process determines if the trader pushed close button  242 . If so, then process  600  loops back to step  628  via link  634  to close dialog window  200 . Otherwise, process  600  determines at step  656  whether the trader clicked on a price  102  or  104  or size  106  or  108  in market cell  100 . If not, process  600  loops back to step  612  via link  632  to wait for more trader input. 
     If the trader did click on a price or size in the market cell, then process  600  determines whether the entry verification feature is active at step  658 . If the entry verification feature is not active, then process  600  submits a bid, offer, buy, or sell order based upon which price or size button was clicked, as described above, and then proceeds to step  626  via link  635 . Otherwise, process  600  next determines whether dialog window  200  is open at step  662 . If the dialog window is not open, then process  600  opens a dialog window  200  at step  666 . After opening dialog window  200  at step  666 , or if the dialog window was determined to be open at step  662 , process  600  warps the pointer to the bid, offer, buy, or sell button based upon what was clicked in the market cell, and then process  600  loops back to step  612  via link  632 . 
     One embodiment of a system settings process  700  that may be used to set system setting as illustrated in  FIGS. 3-5  is shown in  FIG. 7 . As can be seen, upon pressing settings button  241  ( FIG. 2 ), process  700  will preferably display system settings screen  300  as described in connection with  FIGS. 3-5  at step  701 . After displaying the system settings screen, process  700  awaits user input at step  702 . Once user input is received, at step  703 , process  700  determines whether the trader selected “more settings” button  302 . If the trader selects “more settings” button  302 , process  700  displays a second settings screen at step  704 , as described in the description of  FIG. 4 . At step  704 , the trader may then have an opportunity to adjust any setting on the second settings screen, and, at step  705 , process  700  determines whether the trader pressed “OK” button  422  or “Cancel” button  424 . If process  700  determines that the trader selected “Cancel” button  424 , any changes made by the trader in the second settings screen will be ignored at step  706 . If, however, the trader selected “OK” button  422 , process  600  will proceed to step  707  and apply any changes made by the trader in the second settings screen. 
     If, at step  703 , the trader was determined to not have chosen the “more settings” button, or after the completion of either step  706  or step  707 , process  700  branches to step  708 . At step  708 , process  700  determines whether the trader selected the “more display settings” button from screen  300 . If so, then process  700  displays display settings screen  500  at step  709 . Next, at step  710 , process  700  determines whether the trader selected “OK” button  514  or “Cancel” button  516  within display settings screen  500 . If the trader pressed “Cancel” button  516 , process  700  cancels any display settings changes at step  711 . If the trader pressed “OK” button  514 , process  700  applies any display settings changes at step  712 . 
     After completing step  711  or  712 , or if process  600  determines that the “more display settings” button was not selected at step  708 , process  700  determines whether the trader selected “OK” button  312  or “Cancel” button  314  at step  713 . If neither “OK” button  312  or “Cancel” button  314  was selected, process  700  loops back to step  702  where the process will once again await user input. If the trader selected “Cancel” button  314 , however, process  700  will proceed to step  614  and cancel all changes made at the system settings screen. Hitting “Cancel” button  314 , however, preferably will not cancel changes that the trader may have made in the second setting screen displayed at step  704  or in the display settings screen display at step  709 . If the trader, selected “OK” button  312 , process  700  will proceed to step  715 . Step  715  accepts and applies any changes made in the system settings screen. After completing step  714  or  714 , process  700  terminates. 
     In accordance with the present invention, a data window may be used in addition to or instead of market cell  100  to initiate or submit order commands via dialog window  200 . The Data window may be any window for displaying data on tradable items. For example, a data window may be a market data display, a web page including financial data or auction information, a spread sheet, etc. As another example, as shown in  FIG. 8 , a data window  800  may be used for this purpose. Data window  800  is a Bond Analysis window that is part of the Reuters 3000 Xtra product that is available from Reuters Limited. Within data window  800  is a field  802  that contains information on various bonds  804 - 816 . By clicking on any of bonds  804 - 816 , a trader can cause a bid order command to be submitted via dialog window  200 . 
     An example of an order entry process  900  for enabling the submitting of order commands via dialog window  200  and a data window is shown in  FIG. 9 . Through this process, an entry window that is either a replica of the data entry window or the data window itself is used to detect when a trader selects an item within the data window. As illustrated, after process  900  has begun at step  902 , this process loads settings for an entry window at step  904 . Next, based upon the settings loaded, process  900  determines at step  906  whether to replicate a data window for the entry window or to use the data window itself as the entry window. If the data window is to be replicated for the entry window, then process  900  proceeds to step  916  at which the data window is replicated as the entry window. Although replication of the data window is illustrated as part of process  900 , replication may be performed using an automated process or may be performed in conjunction with manual copying of the data window. 
     Next, at step  918 , process  900  monitors data that is being sent to the data window and populates fields within the entry window with that data. Through steps  916  and  918 , the entry window preferably appears identical to the data window. Alternatively, the entry window may be different from the data window and use the data window data. Following step  918 , process  900  determines at step  920  whether a trader clicked on a field in entry window. As part of the replication of the data window, the entry window is preferably constructed to facilitate detection of clicks on various fields within the entry window. If the trader did click on a field in the entry window, the click and corresponding data in the entry window are sent to dialog window  200  as a substitute for a click on a price or size in market cell  100  at step  922 . The click and corresponding data are preferably detected by main process  600  at step  656  and appear to process  600  like a click on a price or size in a market cell. Because the trader may click on a variety of items in the entry window, the data accompanying the click may be used by process  600  to select another tradable item prior to submitting a bid, offer, buy, or sell command. If no click is detected at step  920 , or after the click and data have sent to main process  600  at step  922 , process  900  loops back to step  918 . 
     If, at step  906 , process  900  determines that the data window is not to be replicated, then process  900  displays the data window and uses the data window as the entry window. Because the data window may not be an interactive window, process  900  may monitor the mouse position and clicks at step  910  to determine whether the trader is trying to click on an element in the data window as the entry window. Next, at step  912 , process  900  determines whether the trader clicked on a monitored field in the entry window. If the trader did click on a monitored field, process  900 , at step  914 , strips the data from the monitored field, substitutes the click and stripped data for a click on a price or size in the market cell, and sends that click and data to main process  600 . The data may be stripped by monitoring the data being fed to the data window, by scanning video memory corresponding to the field of the data window clicked on, or using any other suitable process. The click and stripped data are preferably detected by main process  600  at step  656  and appear to process  600  like a click on a price or size in a market cell. Because the trader may click on a variety of items in the entry window, the data accompanying the click may be used by process  600  to select another tradable item prior to submitting a bid, offer, buy, or sell command. If no click is detected at step  912 , or after the click and data have sent to main process  600  at step  914 , process  900  loops back to step  910 . 
     One example of a system  1000  for implementing the present invention is shown in  FIG. 10 . As illustrated, system  1000  may include one or more computers  1001 , including a mouse  1006 , that are connected by one or more communication links  1002  to a computer network  1003  that is linked via a communication link  1005  to a trading server  1004 . 
     In system  1000 , trading server  1004  may be any suitable server, processor, computer, or data processing device, or combination of the same. Computer network  1003  may be any suitable computer network including the Internet, an Intranet, a wide-area network (WAN), a local-area network (LAN), a wireless network, a digital subscriber line (DSL) network, a frame relay network, an asynchronous transfer mode (ATM) network, a virtual private network (VPN), or any combination of any of the same. Communication links  1002  and  1005  may be any suitable communication links suitable for communicating data between computers  1001  and server  1004 , such as network links, dial-up links, wireless links, hard-wired links, etc. User computers  1001  may be any suitable computers, processors, computer terminals, displays, portable computers, personal digital assistants, or any other suitable data processing devices, or combinations of the same. 
     It should be obvious to one of ordinary skill in the art that the present invention may be practiced in embodiments other than those illustrated herein without departing from the spirit and scope of the present invention, and that the invention is only limited by the claims which follow.