BGC Partners has been granted a patent for an apparatus, method, and computer readable medium that improves computer functioning. The invention involves a drop-down menu with different options that is rendered when a cursor hovers over a product order. Upon selecting a parameter option, an order for the product is transmitted. GlobalData’s report on BGC Partners gives a 360-degree view of the company including its patenting strategy. Buy the report here.
According to GlobalData’s company profile on BGC Partners, retail trading platforms was a key innovation area identified from patents. BGC Partners's grant share as of June 2023 was 1%. Grant share is based on the ratio of number of grants to total number of patents.
The patent is granted for a drop-down menu for product orders
A recently granted patent (Publication Number: US11669891B2) describes an apparatus and method for an improved graphical user interface (GUI) for placing orders in a trading system. The apparatus includes a display screen, a network interface, a memory device, and at least one processor. The GUI presented on the display screen consists of multiple rows, each representing a different product and displaying a size field.
When a user activates a first input, such as pressing a key on a keyboard, the apparatus detects the input and changes a status indicator in the memory device to indicate that a cursor is about to hover over a specific row. As the cursor moves over the row, a drop-down menu is rendered, displaying different size options for an order associated with that row. Importantly, the drop-down menu also simultaneously displays bid/buy and sell/offer options, allowing users to view price changes while selecting a size option.
Once a size option is selected from the drop-down menu, the apparatus transmits an order corresponding to the selected size option via the network interface. The apparatus can also detect and transmit multiple selections of size options if desired.
The patent also mentions additional features of the apparatus and method. For example, the bid/buy and sell/offer drop-down menus can be updated dynamically as the cursor moves over different rows. The drop-down menu can be superimposed over the size field for improved visibility. The different size options can be rendered in increments of fifty, with fifty being the lowest available size option and two hundred and fifty being the highest available size option.
In summary, the granted patent describes an apparatus and method for an improved GUI in a trading system. The GUI allows users to easily select size options for orders associated with different products, with bid/buy and sell/offer options visible simultaneously. The apparatus provides a user-friendly interface for efficient order placement and execution.
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