System and Method for Online Trading Using an Electronic Spreadsheet

Abstract

A system and method for receiving streamed, real time quotes with respect to financial instruments. The system applies a spreadsheet based investment strategy to the real time quotes, generating electronic orders based on the results of the investment strategy analysis and transmitting the orders for real time execution. The system generates a unique order identifier that allows users to actively track the status of orders in real time. This unique order identifiers can be shared with other users so that other trading strategies can be developed to execute upon the successful execution of the order (e.g., hedging).

1 - 31 . (canceled) 
     
     
         32 . A computer-implemented method for performing trading of financial instruments, the method comprising:
 storing an order submission application in a computer memory, the order submission application including rules for implementing an investment strategy encompassing multiple types of financial instruments;   facilitating trading of the financial instruments by executing programming of the order submission application with at least one computer processor and performing steps including;
 processing real time updates from a financial instrument server coupled to external pricing sources, the real time updates transmitted through a dynamic data exchange interface coupled to the order submission application; and 
 applying the investment strategy to the real time updates to determine if an order should be generated for a selected one or more of the financial instruments; 
 generating an order for the one or more selected financial instruments when the investment strategy indicates an order should be generated; 
 transmitting the order through the dynamic data exchange interface to the financial instrument server for execution; and 
 updating the order submission application upon execution of the order. 
   
     
     
         33 . The method of  claim 32 , wherein the order submission application transmits a subscription request to the dynamic data exchange interface with respect to the financial instruments. 
     
     
         34 . The method of  claim 33 , wherein the financial instrument server obtains the real time updates from external pricing sources for financial instruments contained in the subscription request. 
     
     
         35 . The method of  claim 32 , wherein the external pricing sources include automated price generation systems for non-exchange traded instruments and external exchange feeds or market data feeds for exchange traded instruments. 
     
     
         36 . The method of  claim 32 , further comprising coupling the financial instrument server to a trading engine for executing trades ordered by the financial instrument server. 
     
     
         37 . The method of  claim 32 , wherein the order submission application automatically assigns an order identifier when an order is generated by the order submission application. 
     
     
         38 . The method of  claim 37 , wherein the financial instrument server saves the order identifier and generates a new and unique server identifier for placement in the order to a trading engine. 
     
     
         39 . The method of  claim 38 , wherein the financial instrument server correlates the order identifier with the server order identifier upon receipt of an update from the trading engine. 
     
     
         40 . The method of  claim 32 , wherein the financial instrument server provides an execution interface for execution of order submission. 
     
     
         41 . The method of  claim 32 , wherein the financial instrument server further returns trade volume when the subscription request includes stocks. 
     
     
         42 . A computer-implemented system for performing trading of financial instruments, the system comprising:
 an order submission application executed by a processor, the order submission application identifying at least one financial instrument, the processor executing programming of the order submission application to create an order with respect to the financial instrument, the order containing a unique order identifier and wherein the order submission application is further programmed to transmit a subscription request with respect to the financial instrument;   a dynamic data exchange interface coupled to the order submission application for receiving the order and the subscription request; and   a financial instrument server coupled to the dynamic data exchange interface, wherein the financial instrument server receives the subscription and the order through the dynamic data exchange interface, the financial instrument server storing the unique order identifier and providing status of the order using the unique order identifier, the financial instrument server additionally generating an executable order containing a unique server order identifier, the financial instrument server maintaining a database correlating the unique order identifier with the unique server order identifier, thus correlating the executable order with the order generated by the order submission application, wherein the unique order identifier differs from the unique server order identifier;   wherein the financial instrument server receives status updates including the unique server order identifier and real time data related to the financial instrument through a trading engine that executes the executable order, wherein the financial instrument server automatically correlates the unique server order identifier with a corresponding unique order identifier and provides the real time data and the corresponding unique order identifier to the order submission application through the dynamic data exchange interface.   
     
     
         43 . The system according to  claim 42 , further comprising a web browser coupled between the data dynamic data exchange interface and the financial instrument server, wherein the web browser receives the subscription from the data dynamic data exchange interface, receives the real time data from the financial instrument server, and publishes the real-time data to data dynamic data exchange. 
     
     
         44 . The system according to  claim 43 , further comprising a communication network coupled between the web browser and the financial instrument server. 
     
     
         45 . The system according to  claim 44 , wherein the communication network is the Internet. 
     
     
         46 . The system according to  claim 42 , wherein the order submission application includes programming to generate a status request with respect to the order when executed by a processor, the status request containing the unique order identifier, the financial instrument server using the unique order identifier in the status request to provide updated status with respect to the order. 
     
     
         47 . The system according to  claim 46 , further comprising shared storage media coupled to the order submission application, wherein the order submission application stores the unique order identifier in the shared storage media. 
     
     
         48 . The system according to  claim 47 , further comprising a second application coupled to the shared storage media, wherein the second application retrieves the unique order identifier, generates a second status request and receives the updated status with respect to the order. 
     
     
         49 . The system according to  claim 42 , wherein the at least one financial instrument is an exchange traded instrument. 
     
     
         50 . The system of  claim 42 , wherein the financial instrument server obtains the real time updates from external pricing sources for financial instruments contained in the subscription request. 
     
     
         51 . The system of  claim 42 , wherein the external pricing sources include automated price generation systems for non-exchange traded instruments and external exchange feeds or market data feeds for exchange traded instruments. 
     
     
         52 . A computer-implemented method for performing trading of financial instruments, the system comprising:
 creating an order for a financial instrument using an order submission application executed by a processor, the order containing a unique order identifier, wherein the order submission application is further programmed to transmit a subscription request with respect to the financial instrument;   receiving the order and the subscription request at a dynamic data exchange interface coupled to the order submission application for receiving the order and the subscription request;   transmitting the order and subscription request from the dynamic data exchange interface to a financial instrument server coupled to the dynamic data exchange interface, the financial instrument server storing the unique order identifier and providing status of the order using the unique order identifier;   generating an executable order at the financial instrument server, the executable order containing a unique server order identifier, the financial instrument server maintaining a database correlating the unique order identifier with the unique server order identifier, thus correlating the executable order with the order generated by the order submission application, wherein the unique order identifier differs from the unique server order identifier;   wherein the financial instrument server receives status updates including the unique server order identifier and real time data related to the financial instrument through a trading engine that executes the executable order, wherein the financial instrument server automatically correlates the unique server order identifier with a corresponding unique order identifier and provides the real time data and the corresponding unique order identifier to order submission application through the dynamic data exchange interface.   
     
     
         53 . The method according to  claim 52 , further comprising receiving the real time data from the financial instrument server via a web browser coupled between the data dynamic data exchange interface and the financial instrument server, wherein the web browser publishes the real-time data to data dynamic data exchange. 
     
     
         54 . The method according to  claim 53 , further comprising communicating over a communication network coupled between the web browser and the financial instrument server. 
     
     
         55 . The method according to  claim 54 , wherein the communication network is the Internet. 
     
     
         56 . The system according to  claim 55 , wherein the order submission application is further programmed to generate a status request with respect to the order when executed by a processor, the status request containing the unique order identifier, the financial instrument server using the unique order identifier in the status request to provide updated status with respect to the order. 
     
     
         57 . The method according to  claim 56 , further comprising providing a shared storage media coupled to the order submission application, wherein the order submission application stores the unique order identifier in the shared storage media. 
     
     
         58 . The method according to  claim 57 , further comprising a retrieving, by a second application coupled to the shared storage media, the unique order identifier and generating a second status request and receives the updated status with respect to the order.