Trading Tools for Electronic Trading

Abstract

Tools for trading and monitoring a commodity on an electronic exchange using a graphical user interface and a user input device. The tools will aid the trader in determining the status, trends in the market, and the trader's position in the market.

1 . (canceled) 
     
     
         2 . A system comprising:
 a computing device,   wherein the computing device is configured to receive a first order quantity range and a second order quantity range,   wherein the computing device is configured to receive market data relating to a commodity from an electronic exchange, the market data including a first order quantity pending at a first price level;   wherein the computing device is configured to display a plurality of graphical locations corresponding to a plurality of price levels for the commodity, wherein the plurality of graphical locations is arranged in an axial direction;   wherein the computing device is configured to determine from the market data whether the first order quantity pending at the first price level falls within the first order quantity range, and responsively,   wherein the computing device is configured to color-code with a first color a first graphical location of the plurality of graphical locations corresponding to the first price level,   wherein the computing device is configured to receive new market data relating to the commodity from the electronic exchange, the new market data including a second order quantity pending at the first price level;   wherein the computing device is configured to determine from the new market data whether the second order quantity pending at the first price level falls within the second order quantity range, and responsively,   wherein the computing device is configured to color-code the first graphical location with a second color that is different than the first color.   
     
     
         3 . The system of  claim 2 , wherein the computing device is further configured to:
 display an indicator in relation to the first price level, the indicator corresponding to a highest bid price or a lowest ask price received in the market data, and   update the display of the indicator where the indicator is displayed in relation to a new price level in response to the receipt of new market data representing a new highest bid price or a new lowest ask price represented by the indicator.   
     
     
         4 . The system of  claim 3 , wherein the computing device is further configured to:
 display an order entry region comprising a plurality of graphical order entry locations for receiving commands to send trade orders, each graphical order entry location in the order entry region corresponding to a price level, the plurality of graphical order entry locations in the order entry region arranged in the axial direction, where each graphical order entry location of the order entry region is configured to be selected by a single action of a user input device to send an order to the electronic exchange, where a price of the order is based on the selected graphical order entry location in the order entry region, and   set a price and send the order to the electronic exchange in response to receiving by the computer device commands based on user actions consisting of: (1) placing a cursor associated with the user input device over a desired graphical order entry location of the plurality of order entry locations in the order entry region, and (2) selecting the desired graphical order entry location through a single action of the user input device.   
     
     
         5 . The system of  claim 4 , wherein the computing device is further configured to:
 display a bid order entry region comprising a plurality of graphical order entry locations corresponding to the plurality of price levels, the plurality of graphical order entry locations in the bid order entry region arranged in the axial direction, wherein the order comprises a buy order according to selecting the desired graphical order entry location in the bid order entry region; and   display an ask order entry region comprising a plurality of graphical order entry locations corresponding to the plurality of price levels, the plurality of graphical order entry locations in the ask order entry region arranged in the axial direction, wherein the order comprises a sell order according to selecting the desired graphical order entry location in the ask order entry region.   
     
     
         6 . The system of  claim 5 , wherein the bid order entry region comprises a bid display region having a plurality of graphical locations corresponding to the plurality of price levels, and wherein the ask order entry region comprises an ask display region having a plurality of graphical locations corresponding to the plurality of price levels. 
     
     
         7 . The system of  claim 4 , wherein the single action of the user input device consists of a single-click of a mouse. 
     
     
         8 . The system of  claim 4 , wherein the single action of the user input device consists of a double-click of a mouse. 
     
     
         9 . The system of  claim 3 , wherein to display the indicator, the computing device is configured to display an order quantity corresponding to the highest bid price or the lowest ask price represented by the indicator. 
     
     
         10 . The system of  claim 2 , wherein the first order quantity range is based on a user-defined order quantity value. 
     
     
         11 . The system of  claim 2 , wherein the second order quantity range is based on a user defined order quantity value. 
     
     
         12 . The system of  claim 2 , wherein the first graphical location is displayed in a bid display region or an ask display region, each of the bid display region and the ask display region comprising a plurality of graphical locations corresponding to the plurality of price levels, the plurality of graphical locations in the bid display region or the ask display region arranged in the axial direction. 
     
     
         13 . The system of  claim 2 , wherein the computing device is further configured to:
 determine from the market data whether an order quantity pending at a second price level falls within the first order quantity range, and responsively,   color-code with the first color a second graphical location of the plurality of graphical locations corresponding to the second price level.   
     
     
         14 . The system of  claim 13 , wherein the first graphical location and the second graphical location are adjacent graphical locations arranged in the axial direction. 
     
     
         15 . The system of  claim 13 , wherein the first graphical location and the second graphical location are not adjacent graphical locations arranged in the axial direction. 
     
     
         16 . The system of  claim 2 , wherein to color-code the first graphical location with the first color, the computing device is configured to apply the first color to a background of the first graphical location, and wherein to color-cod the first graphical location with the second color, the computing device is configured to apply the second color to the background of the first graphical location. 
     
     
         17 . The system of  claim 2 , wherein to color-code the first graphical location with the first color, the computing device is configured to apply the first color to text displayed relative to the first graphical location, and wherein to color-code the first graphical location using the second color, the computing device is configured to apply the second color to the text displayed relative to the first graphical location. 
     
     
         18 . The system of  claim 2 , wherein the first graphical location displays the first price level or an order quantity pending at the first price level.