ALEXANDRIA, Va., June 12 -- United States Patent no. 12,299,740, issued on May 13, was assigned to Cboe Canada Inc. (Toronto).
"System and method for automated trading of financial interests" was invented by Joseph Schmitt (Toronto) and Stephen Bain (Toronto).
According to the abstract* released by the U.S. Patent & Trademark Office: "A derived order gives a participant simultaneous access to liquidity across multiple books, destinations, or marketplaces. The derived order can be placed and anchored in one trading venue and simultaneously replicated in another trading venue. A participant can place the derived order in the lit book as an anchor book and replicate the order in the hybrid book and/or the dark book, or alternatively, the par...