On-line transaction processing system for security trading

Abstract

A data processing system provides an interface with a securities exchange system over which securities are traded. The system allows a user to configure displays tailored for specific functions and to show displays for a particular security. The user may also view a display showing information about selected securities, monitor trade activity, participate in a trade, and report trades. In addition, a user may display information for a selected set of securities on a continuously updated basis and can easily select from a displayed list, a desired security and certain information and functions associated with the selected security.

What is claimed is:  
     
         1 . In a data processing system providing a user an interface with a securities exchange system over which securities are traded, wherein a system display database contains information to be shown in a plurality of system displays showing information about the securities exchange system, a method of customizing the displays comprising the steps, implemented by the data processing system, of: 
 receiving from a user a first input requesting a maintenance display indicating which of the plurality of system displays shows information about a desired security;    displaying the maintenance display in response to the first input;    receiving a second input from the user indicating a change in which of the plurality of system displays shows the information about the desired security; and    updating the system display database to reflect the changes indicated by the second input.    
     
     
         2 . The method according to    claim 1   , further including the step, implemented by the data processing system, of: 
 altering the maintenance display to reflect the chance indicated by the second input.    
     
     
         3 . The method according to    claim 1   , further including the steps, implemented by the data processing system, of: 
 receiving a third input from the user representing the desired security being traded on the securities exchange system; and    displaying pre-selected information about the desired security in response to the third input.    
     
     
         4 . The method according to    claim 1   , wherein the system display database also includes transaction information identifying parameters for trading the desired security over the securities exchange system, the method further including the steps, implemented by the data processing system, of: 
 displaying the transaction information about the desired security;    receiving a third input from the user indicating changes to the transaction information regarding the desired security;    updating the system display database according to the third input; and    altering the maintenance display according to the third input.    
     
     
         5 . The method according to    claim 4   , wherein the securities exchange allows users to make offers or bids according to quotes that may be changed up or down by a Tick Size, and wherein the step of displaying transaction information includes the substep of: 
 displaying information about the Tick Size for desired security.    
     
     
         6 . The method according to    claim 5   , further including the substeps of: 
 receiving a fourth input from the user to change the Tick Size of the desired security; and    updating the system display database to reflect the change indicated by the fourth input.    
     
     
         7 . The method according to    claim 4   , wherein the securities exchange allows users to purchase securities using an automated ordering service that automatically executes a purchase according to quotes which may be changed up or down according to a Tick Size, and wherein the step of displaying transaction information includes the substeps of: 
 displaying an indication of the user's authorization to use the automated ordering service for the desired security; and    displaying, if the user is authorized to use the automated ordering service, information about the Tick Size of the desired security for the automated ordering service.    
     
     
         8 . The method according to    claim 7   , further including the substeps of: 
 receiving a fourth input from the user to change the Tick Size for the automated ordering service; and    updating the system display database to reflect the change indicated by the fourth input.    
     
     
         9 . The method according to    claim 1   , wherein the plurality of system displays are windows.  
     
     
         10 . In a data processing system providing a user interface with a securities exchange system for trading securities, wherein users trade securities each having an associated set of information, a method of providing information on a desired security comprising the steps, implemented by the data processing system, of: 
 receiving from a user a first input requesting a display for the desired security, the display containing a predetermined subset of information selected from the set of information associated with the desired security;    displaying the display containing a predetermined subset of information for the desired security;    receiving a second input from the user specifying a trade of the desired security;    executing the trade; and    reporting the trade to the securities exchange system.    
     
     
         11 . The method according to    claim 10   , wherein the step of displaying the display includes the substep, of displaying a lowest offer and a highest bid.  
     
     
         12 . The method according to    claim 11   , wherein a bid market depth is a number of market makers making bids on the desired security, a market maker being a trading firm registered with the securities exchange system to trade predetermined amounts of the desired security, and an offer market depth is a number of market makers making offers on the desired security, and 
 wherein the step of displaying the display includes the substep of 
 displaying the bid market depth and offer market depth for the desired security.  
   
     
     
         13 . The method according to    claim 11   , wherein a market maker is a trading firm registered with the securities exchange system to trade predetermined amounts of the desired security according to a market maker offer and a market maker bid, and 
 wherein the step of displaying the display includes the substep of 
 displaying a user offer and a user bid.  
   
     
     
         14 . The method according to    claim 10   , wherein securities are traded using bids, representing how much money the user will pay for the desired security, and offers, representing how much money a user will accept for the desired security, and a Tick Size represents an amount by which the user may change its bid and offer, and 
 wherein the step of displaying the display includes the substeps of: 
 displaying the Tick Size for the desired security;  
 receiving a third input from the user indicating a change in a bid and an offer by the user for the desired security by the Tick Size;  
 transmitting the change in the bid or offer to the securities exchange system; and  
 changing the display to reflect the chance in the bid and the offer by the Tick Size.  
   
     
     
         15 . The method according to    claim 10   , further including the step, implemented by the data processing system, of 
 ordering amounts of the desired security through an automated exchange service which automatically executes an order.    
     
     
         16 . The method according to    claim 10   , wherein securities are traded using bids, representing how much money the user will pay for the desired security, and the associated set of information includes all of the bids associated with the desired security, and the step of displaying the display further includes the substep of 
 allowing the user to obtain a display of all of the bids associated with the desired security.    
     
     
         17 . The method according to    claim 10   , wherein securities are traded using bids, representing how much money the user will pay for a security, and offers, representing how much money a user will accept for the desired security, wherein the associated set of information includes all of the bids and all of the offers associated with the desired security, and the step of displaying the display further includes the substep of allowing the user to obtain a display of all of the bids and all of the offers associated with the desired security.  
     
     
         18 . The method according to    claim 10   , wherein securities are traded using offers, representing how much money a user will accept for the desired security, and wherein the associated set of information includes all of the offers associated with the desired security, and the step of displaying the display further includes the substep of 
 allowing the user to obtain a display of all of the offers associated with the desired security.    
     
     
         19 . The method according to    claim 10   , further including the steps, implemented by the data processing system, for providing functions associated with the display for the desired security of: 
 displaying a set of available functions;    receiving a third input from the user identifying a desired subset of the available functions;    displaying the desired subset of available functions in the display for the desired security;    allowing the user to select a function from the subset of available functions; and    executing the selected function.    
     
     
         20 . The method according to    claim 10   , wherein the step of displaying the display further includes the substep of 
 displaying trade request information from other users; and    wherein the step of executing a trade further includes the substep of 
 communicating the user's trade requests with other users.  
   
     
     
         21 . In a data processing system providing an interface with a securities exchange system for trading securities, wherein users trade securities according to offers and bids, a method of providing information on selected securities comprising the steps, implemented by the data processing system, of: 
 receiving from a user a first input requesting a ticker display containing information associated with a selected set of securities;    displaying the ticker display;    scrolling the selected information across the ticker display in a predetermined scroll direction;    receiving from a user a second input changing the information associated with the selected set of securities; and    scrolling the changed selected information.    
     
     
         22 . The method according to    claim 21   , further including the steps, implemented by the data processing system, of: 
 receiving a third input from the user indicating a change in the scroll direction; and    changing the predetermined scroll direction to reflect the change indicated by the third input.    
     
     
         23 . The method according to    claim 21   , wherein the data processing system stores for each of the selected securities data including a lowest offer, a highest bid, a trade report, and market maker quotes, and the information associated with the selected set of securities indicates at least some of the data stored for each security in the set, wherein a market maker is a trading firm registered with the securities exchange system to trade predetermined amounts of a particular security, and wherein the step of scrolling the changed information includes the substeps of: 
 receiving a third input from the user indicating which of the data associated with the pre-selected securities is to be displayed; and    displaying the indicated data according to the third input.    
     
     
         24 . The method according to    claim 21    further including the step, implemented by the data processing system, of: 
 receiving a third input indicating a number of lines scrolled across the display; and  
 wherein the step of scrolling the selected information includes the substep of displaying the number of lines indicated by the third input.  
 
     
     
         25 . The method according to    claim 21   , further including the step, implemented by the data processing system of: 
 receiving a third input from the user indicating an order in which the selected securities are displayed; and    wherein the step of scrolling the selected information includes the substep of 
 displaying the selected securities in the order indicated by the third input.  
   
     
     
         26 . In a data processing system providing a user interface with a securities exchange system for trading securities, a method of providing information to a user on selected securities comprising the steps, implemented by the data processing system, of: 
 creating a first window containing a plurality of icons each associated with a different one of a plurality of securities;    displaying the first window;    receiving from the user a second input selecting one of the plurality of icons; and    displaying, in response to the second input, a second window containing information and functions associated with the security associated with the selected icon.    
     
     
         27 . The method according to    claim 26   , further including the step, implemented by the data processing system, of 
 consecutively providing the second window in an order that the plurality of pre-selected securities appear in the first window.    
     
     
         28 . A method according to    claim 26   , further including the steps, implemented by the data processing system, of: 
 receiving a third input from the user indicating a change in the securities and associated plurality of icons; and    changing the securities and associated plurality of icons according to the third input.