US Patent Issued to Chicago Mercantile Exchange on April 29 for "Randomization of orders at matching in electronic trading systems" (New Jersey Inventors)

ALEXANDRIA, Va., June 9 -- United States Patent no. 12,288,258, issued on April 29, was assigned to Chicago Mercantile Exchange Inc. (Chicago).

"Randomization of orders at matching in electronic trading systems" was invented by Edward R. Howorka (Denville, N.J.), Peter Robert Capuano (Ho-Ho-Kus, N.J.) and Michael Sean Merold (Sparta, N.J.).

According to the abstract* released by the U.S. Patent & Trademark Office: "The disclosed embodiments relate to a latency floor mechanism for processing incoming orders to an electronic trading system which impart a delay on orders, not when they are received, but when they are matched by the match engine/CLOB thereby imparting zero added latency between order submission/modifications/cancellations and...