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    • 7. 发明申请
    • SYSTEM AND METHOD FOR CONTROLLING MARKETS DURING A STOP LOSS TRIGGER
    • 用于在停止失败触发器期间控制市场的系统和方法
    • WO2005013041A3
    • 2005-10-20
    • PCT/US2004022661
    • 2004-07-14
    • CHICAGO MERCANTIL EXCHANGE INCFARRELL JAMESKRAUSE JAMESCHADID MAZEN
    • FARRELL JAMESKRAUSE JAMESCHADID MAZEN
    • G06F20060101G06F17/16G06Q40/00
    • G06Q40/04G06Q40/00G06Q40/06
    • A system mitigates the effects of a market spike caused by the triggering and the election of a conditional order in an automated matching system. The system includes evaluation logic, delay logic, pricing logic and timing logic. The evaluation logic monitors conditional orders submitted to a trading engine and is configured to compare a price of an order to a first predefined price range. The delay logic delays matching of the orders submitted to the trading engine when the price of the orders lie outside of the first predefined price range. The pricing logic derives an opening price to be used by the trading engine. The timing logic measures a time interval used to delay a matching of the orders until the opening price is within a predefined price range up to a maximum delay time set by a control center. A method of mitigating the effect of a market spike caused by the triggering and the election of a conditional order includes monitoring conditional orders submitted to the trading engine.
    • 系统减轻了自动匹配系统中触发和选择条件订单引起的市场飙升的影响。 该系统包括评估逻辑,延迟逻辑,定价逻辑和定时逻辑。 评估逻辑监视提交给交易引擎的条件订单,并且被配置为将订单的价格与第一预定价格范围进行比较。 当订单的价格在第一预定价格范围之外时,延迟逻辑延迟提交给交易引擎的订单的匹配。 定价逻辑得出交易引擎使用的开盘价。 定时逻辑测量用于延迟订单匹配的时间间隔,直到开盘价在预定价格范围内,直到由控制中心设置的最大延迟时间为止。 一种减轻由触发和选择条件订单引起的市场飙升效应的方法包括监控提交给交易引擎的有条件订单。