TECHNICAL FIELDThis invention relates generally to the field of operator interface processing and more specifically to a system and method for providing an operator interface for displaying market data, trader options, and trader input.
BACKGROUNDIn recent years, electronic trading systems have gained widespread acceptance for trading a wide variety of items, such as goods, services, financial instruments, and commodities. For example, electronic trading systems may be used to trade stocks, fixed income securities, currencies, futures contracts, oil, and gold.
Electronic trading systems may have a number of client systems connected to a trading platform. A client system may include input devices, such as keyboards or mouse devices, that may be used to communicate with the trading system. In some instances, keyboards may be specifically designed for use with a trading system.
SUMMARY OF THE DISCLOSUREIn accordance with the present invention, disadvantages and problems associated with previous techniques for displaying market data, trader options, and trader input may be reduced or eliminated.
According to one embodiment of the present invention, a system for displaying market data, trader options, and trader input includes a memory and a processor. The memory stores market data for a trading product, where the market data includes an inside market price for the trading product. The processor initiates display of a market data section of a tile, where the market data section comprises the market data. The processor initiates display of a trader input section of the tile, where the trader input section comprises options. The processor receives a selection of a bid-offer pair for the trading product from the options, and updates the trader input section to indicate the selected bid-offer pair.
Certain embodiments of the invention may provide one or more technical advantages. A technical advantage of one embodiment may be that a display has tiles that display information about trading products to a trader. A tile displays market data for a particular trading product. The market data may include a bid quantity, an inside market price, and an offer quantity. The tile also displays options from which the trader may select to designate desired conditions for initiating a trade for the trading product. The options may include quantities of and bid-offer pairs for the trading product. The trader may use knobs of a game controller device to make selections. One knob may be used to select a quantity, and another knob may be used to select a bid-offer pair. Thus, the trader may use the tile and the game controller device to easily select a quantity and a bid-offer pair for the trading product.
Another technical advantage of one embodiment may be that buttons of the game controller device may be used to initiate specific types of trades. One button may be used to initiate a bid and/or buy at the quantity and bid-offer pair selected by the trader. Another button may be used to initiate an offer and/or sell at the quantity and bid-offer pair selected by the trader. Yet another button may be used to initiate a buy at the inside market price. And, yet another button may be used to initiate a sell at the inside market price. Thus, a trader can readily initiate different types of trades using the buttons of the game controller device.
Certain embodiments of the invention may include none, some, or all of the above technical advantages. One or more other technical advantages may be readily apparent to one skilled in the art from the figures, descriptions, and claims included herein.
BRIEF DESCRIPTION OF THE DRAWINGSFor a more complete understanding of the present invention and its features and advantages, reference is now made to the following description, taken in conjunction with the accompanying drawings, in which:
FIG. 1 illustrates one embodiment of an electronic trading system;
FIG. 2 illustrates an example of a display that includes a tile for use in the system ofFIG. 1;
FIG. 3 illustrates an example of a game controller device for use in the system ofFIG. 1; and
FIG. 4 illustrates one embodiment of a method for displaying one or more tiles.
DETAILED DESCRIPTION OF THE DRAWINGSEmbodiments of the present invention and its advantages are best understood by referring toFIGS. 1 through 4 of the drawings, like numerals being used for like and corresponding parts of the various drawings.
FIG. 1 illustrates one embodiment of anelectronic trading system10 operable to facilitate trading fortraders24.System10 includes aclient system12, atrading platform14, and anetwork16, coupled as shown.Client system12 includes interface devices28 (such as agame controller device36 and a display device32) and aclient platform34.Client platform34 includes aprocessor46 and amemory48.
In one example,client system12 generates adisplay11 that hastiles13 that display information describing trading products. Atile13displays market data15 for a trading product.Market data15 is received in near real-time from a market data center and provides near real-time information fortile13.Market data15 may include a bid quantity, an inside market price, and an offer quantity.
Tile13 also displaysoptions19 from whichtrader24 may select to designate desired conditions for initiating a trade. The options may include quantities and bid-offer pairs for the trading product.Trader24 uses knobs ofgame controller device36 to make selections. One knob may be used to select a quantity, and another knob may be used to select a bid-offer pair.
Trader24 may monitormarket data15, and may decide to initiate a trade in response tomarket data15.Trader24 uses buttons ofgame controller device36 to initiate specific types of trades. One button may be used to initiate a bid and/or buy at the quantity and bid-offer pair selected bytrader24. Another button may be used to initiate an offer and/or sell at the quantity and bid-offer pair selected bytrader24. Yet another button may be used to initiate a buy at the inside market price. And, yet another button may be used to initiate a sell at the inside market price. Although this description is explained with respect to knobs and buttons ofgame controller device36 to perform particular actions, these actions may be performed using any suitable number and combination of knobs, buttons, or other portions ofdevice36.
Accordingly,trader24 may readily read the bid quantity, the inside market price, and the offer quantity for a trading product fromtile13. In addition,trader24 may usetile13 andgame controller device36 to easily select a quantity and a bid-offer pair for the trading product. Furthermore,trader24 may use specific knobs and/or buttons ofgame controller device36 to initiate specific types of trades.
According to one embodiment,traders24 may represent users oftrading system10 capable of placing and/or responding to trading orders17. Atrader24 may represent a principal, an agent acting on behalf of a principal, an individual, a legal entity (such as a corporation), or any machine or mechanism that is capable of placing and/or responding to trading orders17.
Atrading order17 may represent an order to buy or sell a particular amount of a particular trading product. A trading product may refer to any suitable product or combination of products that forms the basis of a giventrading order17. Examples of trading products may include any type of goods, services, financial instruments, commodities, equities, stocks, fixed income securities, interest rate derivatives, currencies, futures contracts, debentures, options, securities, derivative trading instruments, or any other suitable product or combination of products.
Aclient system12 may represent any suitable end-user element that may be used to access one or more elements oftrading system10, such astrading platform14. Examples of an end-user element include a computer, a workstation, a telephone, an Internet browser, an electronic notebook, a personal digital assistant (PDA), a pager, or any other suitable device (wireless or otherwise) capable of receiving, processing, storing, and/or communicating information with other components ofsystem10.
Client system12 may includeinterface devices28 and aclient platform34. Aninterface device28 may represent any suitable device operable to communicate signals to and/or fromclient platform34 via a wired and/or a wireless link. Examples ofinterface devices28 may include input devices, output devices, and/or input/output devices.
Examples of input devices include agame controller device36, a keyboard, a mouse, a microphone, and/or another end-user element.Game controller device36 represents any suitable input device that communicates withclient platform34. Examples ofgame controller devices36 include video game controllers such as a joystick or a gamepad. An example of an output device includes adisplay device32 that displays output information in adisplay11. Examples ofdisplay devices32 include a computer display, a CRT monitor, or a television.
Client platform34 includes aprocessor46 and amemory48 coupled as shown.Processor46 comprises any suitable combination of hardware and/or software to perform the functions described herein, including processing data associated withtrading system10, which may involve executing coded instructions associated withinterface application50.
Memory48 comprises any suitable combination of volatile and/or non-volatile memory that stores and/or facilitates retrieval of information.Memory48 may storeinterface application50.Interface application50 comprises an application that allowsinterface devices28 to receive and/or transmit information. For example,interface application50 may include a graphical user interface (GUI) application that generatesdisplay11 ondisplay device32. In the example,interface application50 may changedisplay11 in response to commands frominterface devices28 and/ortrading platform14. In the example,interface application50 may also send messages to interfacedevices28 and/ortrading platform14 in response to commands frominterface devices28 and/ortrading platform14.
In the illustrated embodiment,interface application50 includes amapping module80.Mapping module80 maps signals received frominterface devices28 and/ortrading platform14 with commands oftrading system10. In one example, a signal may be sent bytrader24 moving a joystick, pressing a button, and/or performing any other manipulation of aninterface device28. In the example, a command may comprise a system command and/or a trading command. A system command may be used to alterdisplay11, for example, to move a cursor. A trading command may be communicated to or fromtrading platform14 to, for example, initiate and/or process a trade.
Signal relationships may be used to associate a signal with a command. As an example, a manipulation (such as moving a joystick) may be associated with one command (such as moving a cursor). As another example, multiple manipulations (such as moving a joystick and pressing a button) may be associated with one command (such as sending a trading order request). As another example, a manipulation (such as pressing a button) may be associated with multiple commands (such as sending a trading order request and updating a display).
Trading platform14 may represent a trading architecture that facilitates the processing of trading orders17.Trading platform14 may be configured at a management center or a headquartering office for any person, business, or entity that seeks to manage the trading of orders.Trading platform14 may include any suitable combination of logic, personnel, devices, or entities that may be utilized to perform the operations of an administrative body or a supervising entity that manages or administers a trading environment.
Anetwork16 may represent a communication platform operable to exchange information. A communication network may comprise at least a portion of a plain old telephone system (POTS), a public switched telephone network (PSTN), a public or private data network, a local area network (LAN), a metropolitan area network (MAN), a wide area network (WAN), a local, regional, or global communication or computer network such as the Internet, a wireline or wireless network, an enterprise intranet, other suitable communication link, or any combination of the preceding.
Modifications, additions, or omissions may be made totrading system10 without departing from the scope of the invention. The components oftrading system10 may be integrated or separated according to particular needs. Moreover, the operations oftrading system10 may be performed by more, fewer, or other modules.
FIG. 2 illustrates an example of adisplay11 that includes one ormore tiles13. According to one embodiment, atile13 may include amarket data section114 and atrader input section118.Market data section114 may display real-time market data15.Market data15 may be received in real-time or near real-time and may include current and/or historical market information such as trade volumes, trading conditions, trading volumes, numbers ofoutstanding trading orders17, bid/offer prices, market prices, yield spreads, trends, and so forth.
According to the illustrated embodiment,market data section114 includes aninside market price122, abid quantity124, and anoffer quantity126 for a trading product.Bid quantity124 is the quantity of the best bid for the trading product.Offer quantity126 is the quantity of the best offer for the trading product. The inside market price represents the bid price of the best bid and the offer price of the best offer.
Trader input section118 displays trader input that is input by a user such astrader24. Examples of trader input include a quantity of the trading product and an input bid-offer pair for the trading product. A trader bid-offer pair comprises a bid price and an offer price designated by atrader24.
According to the illustrated embodiment,trader input section118 includes options140 and selection boxes144. Options140 include numbers that may be selected bytrader24, and selection boxes144 are used to indicate the selected numbers. According to the illustrated embodiment,trader input section118 includes bid-offer pair options140aandquantity options140b.A bid-offerpair selection box144amay indicate a bid-offer pair selected bytrader24, and aquantity selection box144bmay indicate a quantity selected bytrader24.
According to one embodiment,trader24 may usegame controller device36 to move selection box144 to options140 thattrader24 would like to select.Trader24 may move selection box144 to the right or left of options140 until an appropriate number is selected. Afirst selection box144amay be moved to select a bid-offer pair, while asecond selection box144bmay be moved to select a quantity. Althoughoptions140aand140bare illustrated in a horizontal arrangement, any suitable orientation ofoptions140aand140bmay be used.
Accordingly,trader24 may readily read the bid quantity, the inside market price, and the offer quantity for a trading product fromtile13. In addition,trader24 may usetile13 andgame controller device36 to easily select a quantity and a bid-offer pair for the trading product.
Modifications, additions, or omissions may be made to display11 without departing from the scope of the invention.Display11 may include more, less, or other data. Additionally, the data may be arranged in any suitable manner without departing from the scope of the invention.
FIG. 3 illustrates an example ofgame controller device36.Game controller device36 may include one ormore knobs154 and one or more buttons158. In one embodiment, atrader24 may manipulateknobs154 and buttons158 to initiate specific commands. Examples of manipulations may include depressing, lifting, translating, and/orrotating knobs154 and/or buttons158.
Aknob154 may be used to select an option140 and may include any suitable device part, for example, a button, a joystick, or other type of part operable to move selection box144 to an option140. Any suitable number ofknobs154 may be used to select numbers. According to one embodiment, aparticular knob154 may be designated to select numbers from specific options140. In the illustrated example,knob154amay be used to select fromoptions140a,andknob154bmay be used to select fromoptions140b.According to another embodiment, oneknob154 may be used to select among multiple sets of options140. As an example, a joystick may be used in a first direction, for example, in an up-down direction to select a particular set of options140. The joystick may then be moved in a second direction, for example, a left-right direction, in order to select particular numbers of the particular options140.
A button158 may be used to send a request that initiates a trade. A trade may refer to a procedure for placing and/or responding to atrading order17. Examples of trades include a bid, buy, offer, sell, buy at market price, or sell at market price procedure. A bid procedure places a bid for a trading product; a buy procedure places a buy order to buy a trading product; an offer procedure places an offer for a trading product; a sell procedure places a sell order to sell a trading product; a buy at market price procedure places a buy order to buy a trading product at the market price; and a sell at market price procedure places a sell order to sell a trading product at the market price.
Any suitable number of buttons158 may be used to initiate any suitable trades. According to the illustrated embodiment,button158amay be used to initiate a bid and/or buy procedure; button158bmay be used to initiate an offer and/or sell procedure;button158cmay be used to initiate a buy at market price procedure; andbutton158cmay be used to initiate a sell at market price procedure.
Accordingly,trader24 may useknobs154 ofgame controller device36 to easily select a quantity and a bid-offer pair for a trading product. Furthermore,trader24 may use specific buttons158 ofgame controller device36 to initiate different types of trades.
Modifications, additions, or omissions may be made togame controller device36 without departing from the scope of the invention. The components ofgame controller device36 may be integrated or separated according to particular needs. Moreover, the operations ofgame controller device36 may be performed by more, fewer, orother knobs154 and/or buttons158.
FIG. 4 illustrates one embodiment of a method for displaying one ormore tiles13. The method begins atstep210, whereinterface application50 receivesmarket data15 fromtrading platform14.Market data15 may include, for example, insidemarket price122,bid quantity124, andoffer quantity126 for a trading product.Interface application50 initiates display ofmarket data15 inmarket data section114 oftile13 atstep214.
Interface application50 initiates display of options140 intrader input section118 atstep218. Options140 may include bid-offer pair options140aandquantity options140b.Interface application50 receivestrader24's selection of options140 atstep222.Trader24 may useknobs154 ofgame controller device36 to make the selections. For example,trader24 may select bid-offer pair 11/11+ andquantity 5.
Updating oftrader input section118 is initiated atstep226 to display the selections.Trader input section118 may be updated by maneuvering selection boxes144 around the selected options140. For example,selection box144amay be placed at 11/11+ andselection box144bmay be placed at 5.
A request for a trade is received atstep230.Trader24 may use buttons158 ofgame controller device36 to make the request. The trade is initiated atstep234. The trade may be initiated by forwarding the request totrading platform14. After initiating the trade, the method terminates.
Modifications, additions, or omissions may be made to the method without departing from the scope of the invention. The method may include more, fewer, or other steps. Additionally, steps may be performed in any suitable order without departing from the scope of the invention.
While this disclosure has been described in terms of certain embodiments and generally associated methods, alterations and permutations of the embodiments and methods will be apparent to those skilled in the art. Accordingly, the above description of example embodiments does not constrain this disclosure. Other changes, substitutions, and alterations are also possible without departing from the spirit and scope of this disclosure, as defined by the following claims.