Patent ID: 7809628

Claim:
A method for estimating the position of an order at an electronic exchange, the method comprising: sending from a computing device an order with a price for a tradeable object to an electronic exchange where the order is placed into an exchange order queue based on the price; receiving at the computing device a first market update, where the first market update identifies a first aggregate order quantity pending in the exchange order queue; estimating at the computing device a first position of the order in the exchange order queue based on the first market update; displaying at the computing device an indicator representing the first position of the order in the exchange order queue; receiving at the computing device a second market update, where the second market update identifies a second aggregate order quantity pending in the exchange order queue, where the second market update is received subsequently to receiving the first market update; estimating at the computing device a second position of the order in the exchange order queue based on the second market update; and updating the display of the indicator to reflect the second position of the order in the exchange order queue.