Currency trading platform with improved risk management

Abstract

Systems, methods and software for processing and displaying information associated with a plurality of currency exchange transactions to a forex dealer in real time, i.e. substantially simultaneously with the receipt or placement of the associated transactions orders or position requests.

What is claimed is: 
     
         1 . A method of determining a customer exchange rate quote for a currency exchange transaction, comprising:
 receiving at least one dealer exchange rate quote from a financial institution, each dealer exchange rate quote characterized by a currency pair including a base currency to be exchanged for a counter currency, a bid rate for the currency pair and an ask rate for the currency pair;   determining a best available dealer exchange rate for the currency pair, based on the received dealer exchange rate quotes;   providing to a foreign exchange dealer the best available dealer exchange rate for the currency pair and a plurality of exchange rate transformation options for the currency pair;   selecting at least one of the exchange rate transformation options for a customer based on a factor chosen from the group consisting of (1) whether or not the customer is assigned to a high risk group, (2) a volume of an order received from the customer, (3) a predefined setting associated with the customer based on past orders of the customer, and (4) a market condition when the customer places an order;   using the at least one selected exchange rate transformation option, transforming the best available dealer exchange rate into a customer exchange rate quote; and   providing the customer with the customer exchange rate quote.   
     
     
         2 . The method of  claim 1 , wherein the plurality of exchange rate transformation options includes a float transformation and a float maximum transformation. 
     
     
         3 . The method of  claim 1 , wherein the plurality of exchange rate transformation options includes a fixed bid transformation, a fixed ask transformation and a fixed middle transformation. 
     
     
         4 . The method of  claim 1 , wherein the plurality of exchange rate transformation options includes a fixed rounded middle transformation and a float rounded maximum transformation. 
     
     
         5 . The method of  claim 1 , wherein selecting one of the exchange rate transformation options is based entirely on a risk group to which the customer is assigned. 
     
     
         6 . The method of  claim 1 , wherein selecting one of the exchange rate transformation options is based entirely on a market condition. 
     
     
         7 . The method of  claim 1 , wherein providing the foreign exchange dealer with a plurality of exchange rate transformation options includes providing the dealer with a first subset of exchange rate transformation options not based on market conditions and a second subset of exchange rate transformation options based on market conditions; and
 wherein selecting at least one of the exchange rate transformation options includes selecting an exchange rate transformation option from the second subset.   
     
     
         8 . The method of  claim 7 , wherein the second subset includes rate transformation options based on a standard market condition, a slow market condition, a fast market condition, an event market condition, and a news flash market condition. 
     
     
         9 . The method of  claim 7 , wherein selecting at least one of the exchange rate transformation options includes selecting a first exchange rate transformation option from the first subset and a second exchange rate transformation option from the second subset; and
 wherein transforming the best available dealer exchange rate into a customer exchange rate quote is performed using both the first exchange rate transformation option and the second exchange rate transformation option.   
     
     
         10 . A method of providing a customer exchange rate quote for a currency exchange transaction to a customer, comprising:
 providing a dealer exchange rate for a currency pair;   providing a set of possible market conditions as selectable options on a graphical user interface and associating each market condition with one of a plurality of rate transformation options;   receiving a selection of one of the market conditions;   using the exchange rate transformation option associated with the selected market condition, transforming the dealer exchange rate into a customer exchange rate quote; and   providing the customer with the customer exchange rate quote.   
     
     
         11 . The method of  claim 10 , wherein providing the dealer exchange rate includes receiving a plurality of dealer exchange rate quotes from financial institutions and determining the best available dealer exchange rate from the dealer exchange rate quotes. 
     
     
         12 . The method of  claim 10 , wherein the set of possible market conditions includes a standard market condition, a slow market condition and a fast market condition. 
     
     
         13 . The method of  claim 12 , wherein the set of possible market conditions includes an event market condition and a news flash market condition. 
     
     
         14 . The method of  claim 10 , wherein transforming the dealer exchange rate into the customer exchange rate quote uses the exchange rate transformation option associated with the selected market condition and also uses another exchange rate transformation option associated with a risk group to which the customer has been assigned. 
     
     
         15 . The method of  claim 10 , wherein providing the set of possible market conditions includes providing the market conditions as preset graphical buttons on the graphical user interface. 
     
     
         16 . A method of generating a customer exchange rate quote, comprising:
 determining a dealer exchange rate for a currency pair;   displaying the dealer exchange rate on a graphical user interface;   providing a set of selectable rate transformation options on the graphical user interface;   receiving a selection of one of the rate transformation options;   using the selected rate transformation, transforming the dealer exchange rate into a customer exchange rate quote; and   displaying the customer exchange rate quote on the graphical user interface.   
     
     
         17 . The method of  claim 16 , wherein the rate transformation options are based on possible market conditions. 
     
     
         18 . The method of  claim 17 , wherein the rate transformation options are presented on the graphical user interface as preset buttons each indicating one of the market conditions. 
     
     
         19 . The method of  claim 16 , wherein the rate transformation options are based on possible risk groups to which a customer could be assigned. 
     
     
         20 . The method of  claim 16 , wherein a first subset of the rate transformation options are based on possible market conditions, and a second subset of the rate transformation options are based on possible risk groups to which a customer could be assigned.