Patent ID: 7734528

Claim:
A method for event-based trading, the method comprising: receiving by a computer device a news data feed originating from a source other than an exchange, wherein the news data feed provides an actual event value for a news event that affects a market related to a tradeable object; receiving by the computer device an estimated event value for the news event prior to announcement of the actual event value; defining by the computer device a first trading strategy comprising a first plurality of trading rules to be executed based on a comparison of the estimated event value to the actual event value; receiving by the computer device the actual event value subsequent to receiving the estimated event value and defining the first trading strategy; selecting by the computer device a trading rule of the first plurality of trading rules corresponding to the first trading strategy based on a comparison of the actual event value to the estimated event value; and executing by the computer device the selected trading rule, wherein executing the selected trading rule comprises generating a transaction message to be sent to the exchange.