Patent ID: 8229842

Claim:
A system for event-based trading, the system comprising: a computing device configured to receive a news data feed originating from a source other than an electronic exchange, wherein the news data feed provides an actual event value for a news event that affects a market related to a tradeable object, wherein the computing device is further configured to receive an estimated event value for the news event prior to an announcement of the actual event value, wherein the computing device is further configured to define 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, wherein the computing device is further configured to receive the actual event value subsequent to receiving the estimated event value and defining the first trading strategy, wherein the computing device is further configured to select 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 wherein the computing device is further configured to execute the selected trading rule, wherein to execute the selected trading rule, the computing device is further configured to generate a transaction message to be sent to the electronic exchange.