Application programming interface for trading system

Abstract

A trading system with an application programming interface (API) is disclosed. The API includes a set of routines executable to permit client computer systems to automatically make and take orders for items. The API can permit, for example, machine-to-machine communication that automatically posts an order to the trading system or automatically hits an order that has previously been posted to the trading system. The API can also permit a variety of other functions, including reformatting limit order books. The trading system may also implement a graphical user interface (GUI). In one embodiment, the items may be foreign exchange instruments.

What is claimed is: 
     
         1 . A trading system, comprising:
 a computer system storing program instructions executable to:
 implement an application programming interface (API) for foreign exchange trading, wherein the API includes a set of routines executable to permit client computer systems to automatically make and take orders for foreign exchange instruments. 
   
     
     
         2 . The trading system of  claim 1 , wherein the orders include bids and offers for spot currency trades, and wherein the set of routines is configured to receive orders for the spot currency trades via a machine-to-machine communication protocol. 
     
     
         3 . The trading system of  claim 1 , wherein the API permits client computer systems to reformat one or more limit order books for one or more trading entities. 
     
     
         4 . The trading system of  claim 1 , wherein the API permits client computer systems to truncate custom limit order books for one or more trading entities. 
     
     
         5 . The trading system of  claim 1 , wherein the program instructions are executable to match spot currency trades. 
     
     
         6 . The trading system of  claim 1 , wherein the program instructions are executable to anonymously match trades of foreign exchange items between trading entities that do not have a direct line of credit. 
     
     
         7 . The trading system of  claim 1 , wherein the program instructions are executable to implement a graphical user interface (GUI) to permit client computer systems to make and take orders for foreign exchange instruments. 
     
     
         8 . A method, comprising:
 a computer trading system receiving, from a client computer system, a communication at an application programming interface (API) of a foreign exchange computer trading system, wherein the communication specifies, via one or more routines of the API, an action relating to trading of foreign exchange instruments; and   the computer trading system performing the action specified by the communication received via the API.   
     
     
         9 . The method of  claim 8 , wherein the communication is in a machine-to-machine communication format, and wherein the action is posting an order to the computer trading system from a trading entity. 
     
     
         10 . The method of  claim 8 , wherein the communication is in a machine-to-machine communication format, and wherein the action is a first trading entity hitting an order posted to the computer trading system by a second trading entity. 
     
     
         11 . The method of  claim 8 , wherein the action includes obtaining back office information for a first trading entity. 
     
     
         12 . The method of  claim 8 , wherein the action includes reformatting a set of current orders for a first trading entity. 
     
     
         13 . The method of  claim 8 , wherein the action includes setting values limiting trading of one or more foreign exchange instruments by a first trading entity. 
     
     
         14 . The method of  claim 8 , wherein the action includes estimating a cost for a first trading entity to liquidate its position in a traded item. 
     
     
         15 . The method of  claim 8 , wherein the action includes estimating a first trading entity's current profit/loss amount for one or more positions being held in one or more of the foreign exchange instruments. 
     
     
         16 . A method, comprising:
 a client computer system sending a communication to an application programming interface (API) of a foreign exchange (FX) trading system, wherein the API includes routines that permit the client computer system to interact with the FX trading system without using a graphical user interface (GUI).   
     
     
         17 . The method of  claim 16 , wherein the communication specifies one or more orders to be posted to the FX trading system, wherein the FX trading system receiving the communication causes the one or more orders to be posted. 
     
     
         18 . The method of  claim 16 , wherein the communication specifies to hit one or more orders posted to the FX trading system, wherein the FX trading system receiving the communication causes the one or more orders to be hit. 
     
     
         19 . The method of  claim 16 , further comprising the client computer system sending another communication to a GUI implemented by the FX trading system. 
     
     
         20 . The method of  claim 16 , further comprising the client computer system sending another communication to an HTTP interface implemented by the FX trading system, wherein the HTTP interface permits queries to be made to the FX trading system.