Cboe Global Markets. has been granted a patent for a system that implements quote depletion protection in financial transactions. This technology monitors market conditions and applies specific rules to prevent order execution at certain price levels, enhancing trading efficiency and protecting against quote depletion. GlobalData’s report on Cboe Global Markets 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 Cboe Global Markets, was a key innovation area identified from patents. Cboe Global Markets's grant share as of July 2024 was 41%. Grant share is based on the ratio of number of grants to total number of patents.
Quote depletion protection for financial instrument transactions
The patent US12062091B1 outlines a method and system for providing quote depletion protection within an exchange computer system. This method involves receiving orders from user devices, where the first order does not include a request for quote depletion protection, and the system operates in a mode without such protection. Conversely, when a second order is received with an instruction for quote depletion protection, the system switches to a mode that activates a quote depletion protection engine. This engine monitors asset-related data, including national best bid and offer prices, and processes the second order while identifying open orders on the exchange's order book. The system determines if the second order's price falls within a specified range and, if so, activates a protection period to prevent execution below a defined threshold price differential.
Additionally, the patent specifies that the quote depletion protection engine can delay the execution of the second order based on monitored data and configurable parameters, such as the time period for protection and the threshold price differential. The system is designed to handle both buy and sell orders, ensuring that orders executed below a certain volume (one round lot) are appropriately managed. The claims also highlight the ability to adjust the parameters of the quote depletion protection profiles based on user settings, enhancing the flexibility and responsiveness of the trading system. Overall, this patent presents a structured approach to managing order execution in a way that mitigates risks associated with quote depletion in financial markets.
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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.
