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 including:
 a computing device,   wherein the computing device is configured to display an entered order indicator representing a plurality of entered orders entered by a user at an electronic exchange for a commodity, wherein the plurality of entered orders are for the commodity at a first price level, wherein the entered order indicator is displayed in a first location aligned with an axis corresponding to the first price level;   wherein the computing device is configured to receive a command from the user that moves the entered order indicator to a second location aligned with the axis;   wherein the computing device is configured to receive market data indicating that quantity for an order of the plurality of entered orders has been at least partially filled while the command that moves the entered order indicator is being received;   wherein the computing device is configured to modify an order quantity for at least one new order based on the received market data;   wherein the computing device is configured to determine a second price level based on the second location aligned with the axis in response to receiving the command that moves the entered order indicator;   wherein the computing device is configured to send a remove command to the electronic exchange to remove the plurality of entered orders for the commodity at the first price level in response to receiving the command that moves the entered order indicator; and   wherein the computing device is configured to send an enter command to the electronic exchange to enter the at least one new order for the commodity based on the modified order quantity at the determined second price level in response to receiving the command that moves the entered order indicator.   
     
     
         3 . The system of  claim 2 , wherein the axis is a static axis. 
     
     
         4 . The system of  claim 2 , wherein the axis is a value axis. 
     
     
         5 . The system of  claim 4 , wherein the axis is a price axis. 
     
     
         6 . The system of  claim 5 , wherein the axis is a consolidated price axis, wherein the consolidated price axis includes a plurality of consolidated price levels, wherein the second price level is one of the plurality of consolidated price levels, wherein each consolidated price level is associated with a plurality of price levels for the commodity. 
     
     
         7 . The system of  claim 6 , wherein the enter command divides the modified order quantity for the at least one new order between the plurality of price levels for the commodity associated with the consolidated price level corresponding to the second location. 
     
     
         8 . The system of  claim 2 ,
 wherein the computing device is configured to display an order entry region including a plurality of order entry locations, wherein each order entry location corresponds to a price level along the axis, wherein each order entry location is selectable by a user input device so as to receive a command to send an order message to enter an order for the commodity at a price level corresponding to the selected order entry location.   
     
     
         9 . The system of  claim 8 , wherein the command to send an order message is received from a single action of the user input device. 
     
     
         10 . The system of  claim 2 ,
 wherein the computing device is configured to display a current status for the plurality of entered orders for the commodity, wherein the current status includes a total quantity of the plurality of entered orders for the commodity currently working at the first price level, wherein the total quantity is updated dynamically based on market information received for the commodity.   
     
     
         11 . The system of  claim 10 , wherein the current status is displayed as part of the entered order indicator. 
     
     
         12 . The system of  claim 10 , wherein the current status includes a filled quantity of the plurality of entered orders for the commodity that have been bought or sold since at least one of the entered orders was entered, wherein the filled quantity is updated dynamically based on market information received for the commodity. 
     
     
         13 . The system of  claim 2 , wherein the command that moves the entered order indicator is received as a result of a drag and drop action by a user. 
     
     
         14 . The system of  claim 2 , wherein the command that moves the entered order indicator includes a mouse click down on the entered order indicator, moving the entered order indicator to the second location while the mouse is clicked down, and a mouse click up to release the entered order indicator at the second location. 
     
     
         15 . The system of  claim 2 , wherein the command that moves the entered order indicator includes a mouse click down on the entered order indicator and moving the entered order indicator to the second location while the mouse is clicked down. 
     
     
         16 . The system of  claim 2 , wherein the remove command and the enter command are sent as separate commands. 
     
     
         17 . The system of  claim 2 , wherein the remove command and the enter command are sent as a single command. 
     
     
         18 . The system of  claim 17 , wherein the single command is a cancel and replace command. 
     
     
         19 . The system of  claim 2 , wherein the at least one new order for the commodity is a single new order for the commodity. 
     
     
         20 . The system of  claim 2 , wherein the at least one new order for the commodity includes a new order corresponding to each of the plurality of entered orders.