System, method and apparatus for monitoring and execution of entry and exit orders

39 Pages·2013·2.14 MB·English

US007379909B1
(12) United States Patent
(10) Patent N0.: US 7,379,909 B1
Cruz et a]. (45) Date of Patent: May 27, 2008
(54) SYSTEM, METHOD AND APPARATUS FOR (58) Field of Classi?cation Search ........... .. 705/35i36
MONITORING AND EXECUTION OF ENTRY See application ?le for complete search history.
AND EXIT ORDERS
(56) References Cited
(75) Inventors: William R. Cruz, Coral Gables, FL US PATENT DOCUMENTS
(US); Ralph L. Cruz, Coral Gables, FL
(Us); Peter A_ Parandjuk’ Miami’ FL 6,021,397 A * 2/2000 Jones et a1. ............. .. 705/36 R
(Us) 6,493,681 B1* 12/2002 Tertitski et a1. 705/36 R
6,493,682 B1* 12/2002 Horrigan et a1. .. 705/36 R
(73) AssigneeZ Tradestation Technologies, Inc" 7,043,449 B1* 5/2006 Li et a1. ................. .. 705/36 R
Plantation, FL (U S) * cited by examiner
( * ) Notice: Subject to any disclaimer, the term of this P 1’ Wary ExamilferiHani KaZimi
patent is extended or adjusted under 35 1455151117” ExammeriThu Thao Havan
U_S_C_ 154(1)) by 1468 days_ (74) Attorney, Agent, or FirmiWinston & StraWn LLP
(21) Appl. No.: 10/035,250 (57) ABSTRACT
(22) Filed: Jam 4, 2002 An improved method and system to create and Write a
security trading strategy, back test the strategy and auto
Related U_s_ Application Data matically execute and monitor the strategy in an Intemet
_ _ _ _ based trading environment. The automated process auto
(63) Commuanon of apphcanon NO‘ 09/968,849’ ?led on matically generates entry and exit orders and sends the entry
Oct' 3’ 2001' and exit orders to the market to be ?lled. The automated
(60) Provisional application No. 60/237,870, ?led on Oct. PTO“:SS further monitors the entry and exit Orders Once thay
4, 2000 have been sent to be ?lled and intelligently modi?es the
entry and exit orders depending on market and strategy
(51) Int. Cl. conditions.
G06Q 40/00 (2006.01)
(52) US. Cl. ......................................... .. 705/35; 705/36 44 Claims, 23 Drawing Sheets
100
135\ 130
10
Trade Station 5 Securities/
Sewer Commodities
Exchange
Network/intemet
Third Party
Information
125
Liquidity
End-user
/ Wireless-user \
120
110 \
115
U.S. Patent May 27, 2008 Sheet 1 0f 23 US 7,379,909 B1
100
135 130
\ /
105
Trade Station Securities/
Sewer Commodities
Exchange
Network/Intemet
Third Party
Information
125
m * Liquidity
End-user
/ wlreless-user 120
110 \
115
Figure 1
U.S. Patent May 27, 2008 Sheet 2 or 23 US 7,379,909 B1
200
\A /205
Start
\
210
\ Initial Checks
220
\ ‘
Event Monitor
Place Trade Trade Server
Event Event
From User
Strategy
Server
230 240
Event
Price Event
from Data
Server / Timer 245
Event
/ 235
225
Figure 2
U.S. Patent May 27, 2008 Sheet 3 0f 23 US 7,379,909 B1
300 Entry Strategy Order is
\/\ Triggered
‘ 302
Initialize Flag /
Current
Trading
304
On Closed
Entry
306
Force to Limit Time Restricted = / 308
= True True
1 No
Time Restriction =True " ‘I A
316
/
314 Check Entry
Order Action
Figure 3A
U.S. Patent May 27, 2008 Sheet 4 0f 23 US 7,379,909 B1
300
Check Entry
Order Action
330 31 8
Position ‘
Restriction = False
326
334\ /
.332 322
User Exit User Exit
Long Exit Short Exit
Warning Warning
Y ‘ p
es v 336 "Yes
Position / Position
Restricted : < Restricted
= True 328 = True
Yes \
338 324
\ Price
Restriction 340
Order Tab
1' 220
Event Monitor /
Figure 3B
U.S. Patent
May 27, 2008 Sheet 5 0f 23 US 7,379,909 B1
Event Monitor
400
220
_ Yes
Time
Restriction
415
405 \
410
\ Market/Limit
Multiple Entries
Stop market/
Stop limit
420
Price
Restriction
430
Price Price
Restricted Restricted
Flag Flag
i__
Figure 4
U.S. Patent May 27, 2008 Sheet 6 0f 23 US 7,379,909 B1
500
—> Event Monitor 4
510 \
505 \ 220
Position ,
Order Type Restricted
515
User Exit yes
Warining
Position
530
Place or Ignore
53?
Order Order
Placed Ignored
Figure 5
U.S. Patent May 27, 2008 Sheet 7 0f 23 US 7,379,909 B1
Event Monitor
220
625
\ Time User
Perform False Restriction _
Checks Flag = False Wammg
605
Order
Unsent
Warn if
Unfilied Flag
= False 630
User Time
Warning
\ 600
615
Figure 6
U.S. Patent
May 27, 2008 Sheet 8 0f 23 US 7,379,909 B1
220
Event Monitor
Position
Restricted
Flag =
False
706
Exit Orders
Order
704 Status
Update
716
‘ Pending
Position
Flag = 710
Cancel False '
Server Status
Other
Sent I
Received
712
Order =
User Warning
Unsent
700
Figure 7A
U.S. Patent May 27, 2008 Sheet 9 0f 23 US 7,379,909 B1
700\/\ 220
Event Monitor
730 732
' UROut
Exit Pending
Not UROut
Found
712 Partially Fiiied EX" Order
\ UFiOut V ‘
736
UROut /
n—_—+
@— Sewer Status pmedfpamauy Position Restriction
Filled (alive) = False
Rejected/ Pending
Cancel Position
Rejected/Too 724 = True
Late
734
User Warning
Figure 7B