US5774877A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Two-way wireless system for financial industry transactions
Assignee: NYSE Group Inc
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Filing: 1994-09-20
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Granted: 1998-06-30
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Expires: 2014-09-20
Abstract
Abstract A method of managing the activities of one or more floor brokers situated on the floor of an exchange is disclosed. In one respect, the method uses a programmed computer to compare a relative number of instructions having a pending status that have been delegated to the floor brokers and find the floor broker having comparatively few pending instructions. The computer then delegates a further instruction to the floor broker that has been found. Typical instructions that may be managed by the inventive method may be quotation requests, quotations, orders, partial executions, and executions. A related method enables an operator to delegate instructions to one of plural floor brokers by providing the operator with a computer and the floor brokers with two-way communication devices and by receiving at the operator's computer current-status information on any delegated instructions and automatically displaying that information at the computer.
Inventors
- 👤 L. Thomas Patterson, Jr.
- 👤 Desmond Sean O'Neill
- 👤 Stephen Tyler Carroll
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-10-30 10:02
CPC Classifications
G; G06; G06Q; G06Q20/00; G06Q20/30; G06Q20/32; G06Q20/322; G06Q20/38; G06Q20/388; G06Q40/00; G06Q40/04; H; H04; H04L; H04L12/00; H04L12/02; H04L12/16; H04L12/18; H04L12/1804; H04L67/00; H04L67/01; H04L67/04; H04L1/00; H04L1/12; H04L1/16; H04L1/1607; H04L69/00; H04L69/30; H04L69/32; H04L69/322; H04L69/329
Claims Analysis
Total Claims: 20
Claim 1
Independent Claim
148 words
A method for managing one or more floor brokers situated on the floor of an exchange, comprising the steps of: providing each floor broker with a two-way communications device; transmitting an instruction from a programed computer operated by an operator to the two-way communications device provided to a floor broker, the instruction being selected from the group consisting of quotation requests, quotations, orders, partial executions, and executions; transmitting from each two-way communication device to the programmed computer current-status information concerning any transmitted instructions; calculating at the programmed computer a remaining quantity of unfilled orders to fill using current-status information transmitted to the programmed computer; automatically and simultaneously displaying at the programmed computer in real time the current status information of at least a portion of the delegated instructions received from each two-way communication device; and selecting a floor broker to whom a further instruction is to be transmitted.
Claim 2
Independent Claim
148 words
A method for managing one or more floor brokers situated on the floor of an exchange, comprising the steps of: providing each floor broker with a two-way communications device; transmitting an instruction from a programed computer operated by an operator to the two-way communications device provided to a floor broker, the instruction being selected from the group consisting of quotation requests, quotations, orders, partial executions, and executions; transmitting from each two-way communication device to the programmed computer current-status information concerning any transmitted instructions; calculating at the programmed computer a remaining quantity of unfilled orders to fill using current-status information transmitted to the programmed computer; automatically and simultaneously displaying at the programmed computer in real time the current status information of at least a portion of the delegated instructions received from each two-way communication device; and selecting a floor broker to whom a further instruction is to be transmitted.
Claim 3
Dependent Claim
20 words
The method as in claim 1, wherein the programmed-computer and the two-way communication device communicate over a wireless communication link.
Claim 4
Dependent Claim
17 words
The method as in claim 2, wherein the wireless communication link comprises a spread spectrum radio link.
Claim 5
Dependent Claim
17 words
The method as in claim 2, wherein the wireless communication link is established using a connectionless protocol.
Claim 6
Dependent Claim
23 words
The method as in claim 1, including the additional step of routing communications between the programmed-computer and a network associated with the exchange.
Claim 7
Dependent Claim
24 words
The method as in claim 1, including the additional step of routing communications between the programmed-computer and a computer remote from the exchange floor.
Claim 8
Dependent Claim
19 words
The method as in claim 1, including the additional step of assigning a sequence number to the delegated instruction.
Claim 9
Dependent Claim
19 words
The method as in claim 7, wherein the transmissions received from the two-way communication devices include the sequence number.
Claim 10
Dependent Claim
28 words
The method as in claim 8, including the additional step of creating an audit trail by associating transmissions received at the programmed-computer in accordance with the sequence number.
Claim 11
Dependent Claim
19 words
The method as in claim 8, wherein said transmissions further include information relating to the time of the transmission.
Claim 12
Dependent Claim
28 words
The method as in claim 10, including the additional step of creating an audit trail by associating transmissions received at the programmed-computer in accordance with the sequence number.
Claim 13
Dependent Claim
43 words
The method as in claim 1, including the additional step of automatically utilizing an alternative method of communicating with the floor broker when transmissions are not received at the programmed-computer from the floor broker's two-way communication device after a predetermined period of time.
Claim 14
Dependent Claim
22 words
The method as in claim 12, wherein the alternative method of communicating comprises contacting the floor broker using a pager or telephone.
Claim 15
Dependent Claim
19 words
The method as in claim 1, including the additional step of providing the programmed-computer with a touch-sensitive display screen.
Claim 16
Dependent Claim
47 words
The method as in claim 1, wherein the programmed-computer and the two-way communications devices each have a display screen, the method including the additional step of displaying substantially the same information on the display screens of the programmed-computer and at least one of the two-way communications devices.
Claim 17
Dependent Claim
13 words
The method as in claim 1, wherein the further instruction includes an image.
Claim 18
Dependent Claim
29 words
The method as in claim 16, wherein the step of selecting includes the step of transmitting the further instruction including the image to that floor broker's two-way communication device.
Claim 19
Dependent Claim
32 words
The method as in claim 1, including the additional step prior to the selecting step of constructing a further instruction by entering information at a touch-sensitive input device connected to the programmed-computer.
Claim 20
Dependent Claim
27 words
The method as in claim 1, wherein at least some of the transmissions from the two-way communication devices are transmitted without manual intervention of the floor brokers.
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USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 2001-06-29 | 2001-12-29 | 2002-06-30 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2005-06-29 | 2005-12-29 | 2006-06-30 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2009-06-29 | 2009-12-29 | 2010-06-30 | $7700.00 | Window Closed / Lapsed |