System and method for executing strategy security trading

Abstract

A computer implemented method and system for executing block trades for a security includes steps or devices for receiving a block trade request, at a computer system. The block request includes data representing a quantity of shares of the security to be traded over a period of time. The computer system divides the period of time into a plurality of time bins. A computer system, for the received block trade request, computes, for each time bin, a number of shares to be traded as a trading target based on at least historical trading volumes using predictive analysis. For a first time bin, a computer system generates executable trade orders for a number of shares to be traded that is substantially equal to the trading target for the first time bin. A computer system executes at least a portion of the executable trade orders in a trade forum within each time bin in the future.

1 - 12 . (canceled) 
     
     
         13 . A system for executing block trades for a security, comprising:
 an algorithmic trading computer server electronically coupled with an electronic trade order matching system, said algorithmic trading computer server configured to receiving an electronic block trade request including data representing a quantity of shares of the security to be traded over a period of time and a trading strategy to be employed, to compute, for a number of time bins, a number of shares to be traded as a trading target based on at least historical trading volumes using predictive analysis and said trading strategy, and to generate and transmit to the trade order matching system for execution, electronic trade orders for a number of shares to be traded that is less than the trading target for the first time bin.   
     
     
         14 . The system of  claim 13 , wherein said algorithmic trading computer server periodically checks the status of outstanding executable trade orders and changes at least one of the pricing and the number of shares of an outstanding executable trade order as a function of both an amount of time remaining in a given time bin and real-time assessments of current market conditions based on real-time market data. 
     
     
         15 . The system of  claim 13 , wherein said algorithmic trading computer server identifies securities for which said computer system has received a block trade request on both a buy side and a sell side and transfers shares of such identified securities from a seller to a buyer at a price determined according to the conditions specified in said requests for said identified securities. 
     
     
         16 . The system of  claim 13 , wherein said algorithmic trading computer server determines whether adverse market conditions exist, and changes remaining share orders to more aggressive limit orders or market orders for immediate execution when adverse conditions exist. 
     
     
         17 . The system of  claim 13 , wherein the period of time is a trading day for the trade forum.