Louis G Pastina

US Patent:

7647267, Jan 12, 2010

Filed:

Jul 15, 2005

Appl. No.:

11/183259

Inventors:

Roger Burkhardt - Irvington NY, US
Anne E. Allen - Cranford NJ, US
Robert J. McSweeney - Merrick NY, US
Louis G. Pastina - Belle Harbor NY, US

Assignee:

New York Stock Exchange - New York NY

International Classification:

G06Q 40/00

US Classification:

705 37, 705 38

Abstract:

The lowest trade price for a security within a predetermined period of time is determined, and a momentum liquidity replenishment price is determined by adding the greater of a predetermined price or a predetermined percentage of the last trade price to the lowest trade price for the security for the security within the predetermined period of time. In a similar fashion, another momentum liquidity replenishment price is determined from the highest trading price of the security within predetermined period of time.

US Patent:

7747509, Jun 29, 2010

Filed:

Jul 15, 2005

Appl. No.:

11/183123

Inventors:

Roger Burkhardt - Irvington NY, US
Anne E. Allen - Cranford NJ, US
Robert J. McSweeney - Merrick NY, US
Louis G. Pastina - Belle Harbor NY, US

Assignee:

New York Stock Exchange - New York NY

International Classification:

G06Q 40/00

US Classification:

705 37, 705 38

Abstract:

The price of a best bid is determined, and a proposed bid sweep liquidity replenishment price is determined by subtracting five cents from the price of the best bid. The proposed bid sweep liquidity replenishment price is incrementally decreased by 0, 1, 2, 3 or 4 cents until the proposed bid sweep liquidity replenishment price is divisible by 5 without any remainder. The bid sweep liquidity replenishment price is set equal to the proposed bid sweep liquidity replenishment price. In a similar fashion an offer sweep liquidity replenishment price is determined by adding five cents to the price of the best offer and incrementally increasing by 0, 1, 2, 3 or 4 cents until the offer sweep liquidity price is divisible by 5 without any remainder.

US Patent:

7778916, Aug 17, 2010

Filed:

Jul 15, 2005

Appl. No.:

11/183279

Inventors:

Roger Burkhardt - Irvington NY, US
Anne E. Allen - Cranford NJ, US
Robert J. McSweeney - Merrick NY, US
Louis G. Pastina - Belle Harbor NY, US

Assignee:

New York Stock Exchange - New York NY

International Classification:

G06Q 40/00

US Classification:

705 37, 705 38

Abstract:

A first price and first size of a published offer to sell shares of a security are determined, and a second price and second size of orders to sell shares of the security are determined. A third price and third size of orders to sell shares of the security are determined, wherein the second price is greater than the published offer and the third price is greater than the second price. A market order to buy shares of the security is received with a buy size greater than a sum of the first size and the second size. A first portion of the market order that is equal to the first size is executed at a first price, and a second portion of the market order is executed at the third price. The sum of the size of the first portion and the size of the second portion equals the buy size. Market orders to sell are handled in a similar fashion.

US Patent:

7788161, Aug 31, 2010

Filed:

Jul 15, 2005

Appl. No.:

11/183106

Inventors:

Roger Burkhardt - Irvington NY, US
Anne E. Allen - Cranford NJ, US
Robert J. McSweeney - Merrick NY, US
Louis G. Pastina - Belle Harbor NY, US

Assignee:

New York Stock Exchange - New York NY

International Classification:

G06Q 30/00

US Classification:

705 37

Abstract:

A large market order to buy is received causing an imbalance. A portion of the market order is executed at a best offer price. A quote is changed from fast to slow, and a remaining unexecuted size of the market order is calculated. The unexecuted size of the market order is quoted at the best offer price, and the best bid size is quoted as 100 shares. The best bid price is quoted as a gap price. In a similar fashion a large market order to sell results in a gap quote.

US Patent:

7788162, Aug 31, 2010

Filed:

Jul 15, 2005

Appl. No.:

11/183155

Inventors:

Roger Burkhardt - Irvington NY, US
Anne E. Allen - Cranford NJ, US
Robert J. McSweeney - Merrick NY, US
Louis G. Pastina - Belle Harbor NY, US

Assignee:

New York Stock Exchange - New York NY

International Classification:

G06Q 40/00

US Classification:

705 37, 705 38

Abstract:

Broker or specialist interest to buy or sell a security at a first price and a first size is received, and it is determined whether the first price equals a published best bid or offer price. If the first price equals the published bid or offer price, first size is included in the published bid or offer, and if the first price does not equal the published bid or offer price, disclosure of the broker or specialist interest is at least partially blocked.

US Patent:

8024247, Sep 20, 2011

Filed:

Jul 15, 2005

Appl. No.:

11/183043

Inventors:

Roger Burkhardt - Irvington NY, US
Anne E. Allen - Cranford NJ, US
Robert J. McSweeney - Merrick NY, US
Louis G. Pastina - Belle Harbor NY, US

Assignee:

New York Stock Exchange - New York NY

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 37, 705 35

Abstract:

The system and method determines both a sweep liquidity offer price, and a momentum liquidity offer price. If the sweep liquidity offer price is less than the momentum liquidity offer price, the system and method publishes the sweep liquidity offer price. If the sweep liquidity offer price is greater than the momentum liquidity offer price, the system and method publishes the momentum liquidity offer price. In a similar fashion the system and method determines a sweep liquidity bid price and a momentum liquidity bid price, they are compared and the system and method publishes one.

US Patent:

20060015441, Jan 19, 2006

Filed:

Jul 15, 2005

Appl. No.:

11/182982

Inventors:

Roger Burkhardt - Irvington NY, US
Anne Allen - Cranford NJ, US
Robert McSweeney - Merrick NY, US
Louis Pastina - Belle Harbor NY, US

International Classification:

G06Q 40/00

US Classification:

705037000

Abstract:

A buy order is received with a limit price that is above a published best offer, and represented in the auction market. If the buy order is not immediately executed, it is quoted at a minimum variation better than a published best bid, and the price of the quoted buy order becomes the published best bid. Alternatively, a sell order is received with a limit price that is below a published best bid, and represented in the auction market. If the sell order is not immediately executed, it is quoted at a minimum variation better than a published best offer, and the price of the quoted sell order becomes the published best offer.

US Patent:

20060015448, Jan 19, 2006

Filed:

Jul 15, 2005

Appl. No.:

11/183285

Inventors:

Roger Burkhardt - Irvington NY, US
Anne Allen - Cranford NJ, US
Robert McSweeney - Merrick NY, US
Louis Pastina - Belle Harbor NY, US

International Classification:

G06Q 40/00

US Classification:

705037000

Abstract:

A plurality of limit orders are received at the same price and the limit orders are aggregated as a single aggregate. A plurality of broker interests are received at the same price. Equal parity is assigned to the single aggregate and each of the plurality of broker interests.