System and method for processing composite trading orders at a client

Abstract

An apparatus for processing a composite trading order comprises an interface operable to display a composite value representing a weighted quantity of a plurality of trading products. The apparatus further comprises a processor operable to receive at least one input representing a composite trading order, wherein the at least one input comprises a quantity that is equal to at least a portion of the weighted quantity. The at least one input is usable to generate one or more constituent trading orders that, when filled, combine to satisfy the composite trading order.

1 . An apparatus for processing a composite trading order, comprising:
 an interface operable to display a composite value representing a weighted quantity of a plurality of trading products; and   a processor operable to receive at least one input representing a composite trading order, wherein:
 the at least one input comprises a quantity that is equal to at least a portion of the weighted quantity; and 
 the at least one input is usable to generate one or more constituent trading orders that, when filled, combine to satisfy the composite trading order. 
   
     
     
         2 . The apparatus of  claim 1 , wherein the composite value is based at least in part on market data representing trading conditions in one or more market centers. 
     
     
         3 . The apparatus of  claim 1 , wherein the interface is operable to update the displayed composite value according to current trading conditions in one or more market centers. 
     
     
         4 . The apparatus of  claim 1 , wherein the displayed composite value is usable to track, substantially simultaneously, the plurality of trading products. 
     
     
         5 . The apparatus of  claim 1 , wherein the weighted quantity of a plurality of trading products is substantially equivalent to a particular quantity of a particular trading product. 
     
     
         6 . The apparatus of  claim 1 , wherein the composite value corresponds to available volumes of the plurality of trading products in one or more market centers. 
     
     
         7 . The apparatus of  claim 1 , wherein the display of the composite value is based at least in part on one or more preferences and/or trading strategies associated with a trader. 
     
     
         8 . The apparatus of  claim 1 , wherein:
 the one or more constituent trading orders comprise a first trading order and a second trading order;   the first trading order is for one or more notes associated with a first maturity; and   the second trading order is for one or more notes associated with a second maturity.   
     
     
         9 . The apparatus of  claim 1 , wherein:
 the one or more constituent trading orders comprise a first trading order and a second trading order;   the first trading order is for a particular currency; and   the second trading order is for one or more futures contracts associated with the particular currency.   
     
     
         10 . The apparatus of  claim 1 , wherein:
 the one or more constituent trading orders comprise a first trading order and a second trading order;   the first trading order is for one or more notes; and   the second trading order is for one or more futures contracts associated with the one or more notes.   
     
     
         11 . The apparatus of  claim 1 , wherein the processor is operable to receive, in a single action, the at least one input. 
     
     
         12 . The apparatus of  claim 11 , wherein the single action comprises a keystroke or a click of a mouse. 
     
     
         13 . A method for processing a composite trading order, comprising:
 displaying, by at least one processor, a composite value representing a weighted quantity of a plurality of trading products; and   receiving, by the at least one processor, at least one input representing a composite trading order, wherein:
 the at least one input comprises a quantity that is equal to at least a portion of the weighted quantity; and 
 the at least one input is usable to generate one or more constituent trading orders that, when filled, combine to satisfy the composite trading order. 
   
     
     
         14 . The method of  claim 13 , wherein the composite value is based at least in part on market data representing trading conditions in one or more market centers. 
     
     
         15 . The method of  claim 13 , further comprising updating the composite value according to current trading conditions in one or more market centers. 
     
     
         16 . The method of  claim 13 , wherein the displayed composite value is usable to track, substantially simultaneously, the plurality of trading products. 
     
     
         17 . The method of  claim 13 , wherein the weighted quantity of a plurality of trading products is substantially equivalent to a particular quantity of a particular trading product. 
     
     
         18 . The method of  claim 13 , wherein the composite value corresponds to available volumes of the plurality of trading products in one or more market centers. 
     
     
         19 . The method of  claim 13 , wherein the display of the composite value is based at least in part on one or more preferences and/or trading strategies associated with a trader. 
     
     
         20 - 36 . (canceled) 
     
     
         37 . A method comprising:
 receiving, by at least one computing device, a trading order that comprises a first quantity of a first financial instrument;   determining, by the at least one computing device, that at least one market center comprises insufficient liquidity to fill the first quantity of the trading order;   identifying, by the at least one computing device, at least one financial instrument comprising a second financial instrument that is different from the first financial instrument;   receiving, by the at least one computing device, market data from at least one market center, wherein the market data relates to the plurality of financial instruments;   generating, by the at least one computing device, at least one constituent trading order for the at least one financial instrument, in which the at least one constituent trading order is configured to, if filled, substantially satisfy a financial objective of the first trading order;   transmitting, by the at least one computing device, the at least one constituent trading order to at least one market center.