ALEXANDRIA, Va., June 16 -- United States Patent no. 12,307,520, issued on May 20, was assigned to Cboe Exchange Inc. (Chicago).
"Randomized auction notification" was invented by Adam Inzirillo (Bay Shore, N.Y.) and William Ciabattoni (New York).
According to the abstract* released by the U.S. Patent & Trademark Office: "A method for performing an auction implemented via an exchange computer system includes receiving, from a user device, a security transaction order, receiving a first matching order, initiating a delay timer that runs for a first period of time, initiating an auction timer that runs for a second period of time, determining that the first period of time has expired, notifying a plurality of market participants of an auctio...