BGC Group. has been granted a patent for a trading order management system that stores orders and processes them based on root and fractional pip values. The system selectively displays root values while suppressing fractional pip values, enhancing order management and market data transmission. GlobalData’s report on BGC Group gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on BGC Group, Retail trading platforms was a key innovation area identified from patents. BGC Group's grant share as of June 2024 was 48%. Grant share is based on the ratio of number of grants to total number of patents.
System for managing trading orders and market data
The patent US12039605B2 outlines a system and method for managing trading orders through a structured approach that involves both memory storage and processing capabilities. The system includes a memory for storing trading orders and a processor that receives trading orders characterized by specific quantities and base prices. It evaluates whether the base price consists of a root value and a fractional pip value, and checks if the quantity meets configurable conditions. If the conditions are not met, the order is rejected. The system generates market data, displaying only the root value to multiple computing devices while managing counterorders that may fulfill existing trade orders based on the best base price.
Additionally, the method described in the patent emphasizes the processing of trading orders, including the storage of trade orders and the assessment of incoming orders against predefined conditions. If an order meets the conditions, it is stored; otherwise, it is rejected. The method also involves generating market data and displaying it in a random sequence on various devices. Furthermore, it addresses the handling of counterorders, which can execute trades at specified prices, ensuring that the most favorable trade orders are prioritized for fulfillment. This structured approach aims to enhance the efficiency and effectiveness of trading operations.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
