Dynamic selection of a quoting leg based on liquidity

Abstract

Certain embodiments of the present inventions provide for dynamic selection of a quoting leg based on liquidity. Certain embodiments of the present inventions utilize various techniques for determining the liquidity of one or more legs. Certain embodiments provide for selecting a leg to quote based on the determined liquidity. Certain embodiments provide a configuration interface for specifying techniques to be used in determining a liquidity value for a particular tradeable object. Certain embodiments provide for liquidity indicators being presented in various user interfaces.

1 . (canceled) 
     
     
         2 . A system for trading in an electronic trading environment, the system including:
 a computing device,   wherein the computing device is configured to receive a definition for a trading strategy, wherein the trading strategy includes a first tradeable object and a second tradeable object,   wherein the computing device is configured to receive market data for the first tradeable object and the second tradeable object,   wherein the computing device is configured to receive a desired strategy price,   wherein the computing device is configured to determine a first liquidity value for the first tradeable object based on the received market data,   wherein the computing device is configured to automatically select a quoting leg based on the determined first liquidity value, and   wherein the computing device is configured to place a quoting order for the tradeable object corresponding to the selected quoting leg based on the definition for the trading strategy and the desired strategy price.   
     
     
         3 . The system of  claim 2 , wherein the computing device is configured to determine a second liquidity value for the second tradeable object based on the received market data, wherein the automatically selecting of the quoting leg is further based on the determined second liquidity value. 
     
     
         4 . The system of  claim 2 , wherein the first liquidity value is predetermined. 
     
     
         5 . The system of  claim 4 , wherein the first liquidity value is specified by a user. 
     
     
         6 . The system of  claim 4 , wherein the first liquidity value is predetermined based on historical market data. 
     
     
         7 . The system of  claim 2 , wherein the first liquidity value is dynamically determined. 
     
     
         8 . The system of  claim 7 , wherein the computing device is configured to automatically select a second quoting leg based on a change in the dynamically determined first liquidity value and place a second quoting order for the tradeable object corresponding to the selected second quoting leg. 
     
     
         9 . The system of  claim 8 , wherein the computing device is configured to cancel the quoting order. 
     
     
         10 . The system of  claim 2 , wherein the computing device is configured to provide an indicator corresponding to the determined first liquidity value. 
     
     
         11 . The system of  claim 10 , wherein the indicator is provided via a user interface of a trading application.