Systems and methods for electronic trading

Abstract

Systems and methods of changing electronic trade order properties are provided. A GUI display is provided that displays features regarding placed electronic trade orders. The GUI may include further features for quickly and easily changing features. For example, a first button maybe provided that lists current properties of a selected electronic trade order and is not available for user interaction. A second button may be provided that lists an available change to the current properties of the selected electronic trade order and is available for user interaction. If the second button is activated, one or more electronic cancel and replace orders are executed to create a new order having properties of the selected electronic trade order and at least one changed property that is listed by the second button. The GUI is then updated to reflect the new orders.

We claim: 
     
         1 . A improved graphical user interface for a computing device having an electronic display and at least one input/output device, said graphical user interface comprising:
 a first display configured to be displayed on the computing device on a same screen with an electronic order blotter display, and to display features relating to a plurality of electronic trade orders displayed in said electronic order blotter display;   a second display configured to be displayed on said same screen and to display a plurality of current properties of a selected on of the plurality electronic trade orders displayed in said electronic order blotter display; and   a third display configured to be displayed on said same screen and to display at least one change that can be made to at least one of the plurality of current properties, and to cause the at least one change to be made to the selected one of the plurality electronic trade orders displayed in said electronic order blotter display when said third display is actuated by a user via an input/output device.   
     
     
         2 . The improved graphical user interface according to  claim 1 , wherein said third display includes a display button configured to make the at least one change when pressed via the input/output device. 
     
     
         3 . The improved graphical user interface according to  claim 1 , wherein the at least one change is caused to be made by executing a trading module configured to generate and transmit over an electronic data network, electronic order messages based on said selected one of the plurality electronic trade orders and on said at least one change. 
     
     
         4 . The improved graphical user interface according to  claim 3 , wherein the electronic order messages include at least one synthetic electronic cancel and replace order. 
     
     
         5 . The improved graphical user interface according to  claim 1 , wherein said second display is further configured to display data corresponding to trade parameters including quantity, order type, limit price, limit price offset, accounts, portfolio codes, regulatory identifications and flags, and algorithmic trading parameters. 
     
     
         6 . The improved graphical user interface according to  claim 1 , wherein said second display is further configured to display the same features regardless of current trading conditions. 
     
     
         7 . The improved graphical user interface according to  claim 1 , wherein said first, second and third displays are associated with first, second, and third program modules, respectively, and said first, second, and third program modules are not part of any program modules of said electronic trade blotter. 
     
     
         8 . The improved graphical user interface according to  claim 1 , wherein at least on of said first, second and third display is preset to display content based on a rule. 
     
     
         9 . The improved graphical user interface according to  claim 8 , wherein said rule is based on broker direction, broker restriction, asset class, regional, or strategy. 
     
     
         10 . The improved graphical user interface according to  claim 1 , wherein said electronic trade blotter is capable of placing and monitoring electronic trade orders and of displaying information regarding the electronic trade orders, and includes a trade order database. 
     
     
         11 . The improved graphical user interface according to  claim 10 , wherein at least one of said first, second, and third displays is based on data in trade order database for an electronic trade order placed with at least one trade execution venue. 
     
     
         12 . The improved graphical user interface according to  claim 11 , wherein said order blotter displays a grid of electronic trade orders in rows, each of the rows being selectable, and said first, second and third displays are configured to update its respective display based on a selected row in the grid. 
     
     
         13 . The improved graphical user interface according to  claim 12 , wherein when said selected electronic trade order is highlighted on the said grid, said first, second and third displays, collectively display graphical content for the highlighted electronic trade order. 
     
     
         14 . The improved graphical user interface according to  claim 13 , wherein said content includes content selected from ID, status, action, side, ticker, size of electronic trade order, type, destination, amount of electronic trade order still outstanding, amount of electronic trade order that has been executed, and owner. 
     
     
         15 . The improved graphical user interface according to  claim 13 , wherein information regarding electronic trade orders is updated based on placed electronic orders and selection of said second or third displays.