The London Stock Exchange Group has been granted a patent for a system enabling user-defined matching of objects at an electronic exchange. This system allows users to override default matching rules through custom code via an API, facilitating personalized prioritization of matching objects based on user specifications. GlobalData’s report on London Stock Exchange 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 London Stock Exchange Group, was a key innovation area identified from patents. London Stock Exchange Group's grant share as of July 2024 was 38%. Grant share is based on the ratio of number of grants to total number of patents.
User-defined matching rules for electronic exchange objects
The granted patent US12062092B2 outlines a system and method for user-defined matching of objects at an electronic exchange, utilizing a processor to enhance the matching process through a customizable Application Programming Interface (API). The system allows users to submit taker orders that specify values for various fields, and it can implement user-defined rules for prioritizing matches instead of relying solely on default exchange rules. This flexibility enables users to encode their own matching criteria, which can include hierarchical ordering of rules based on price and other factors. The processor executes this user-defined code to generate an ordered listing of objects for matching, thereby tailoring the exchange process to individual user preferences.
Additionally, the patent describes mechanisms to ensure that the matching process remains efficient and fair. For instance, it includes provisions for randomly determining whether to apply user-defined rules or default rules to prevent potential starvation of objects that may not be matched under user-defined criteria. The system also incorporates historical market data to inform matching decisions and allows users to access and edit their defined rules. Overall, the patent presents a comprehensive approach to enhancing object matching in electronic exchanges, emphasizing user control and adaptability in the trading process.
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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.
