Trading Technology

12:58 PM
Connect Directly
Facebook
Google+
Twitter
RSS
E-Mail
50%
50%

Patent Issued to RealTick EMS for Staging of Electronic Orders

The U.S. patent was issued to Eze Castle Software Group for proprietary technology in RealTick EMS that allows traders to stage electronic orders in a neutral account without committing to a specific broker.

Eze Castle Software Group said yesterday that it was received a patent from the United States Patent and Trademark Office for its RealTick EMS. The patent covers the proprietary technology and methodology for staging electronic orders into a neutral aggregation account for execution, providing workflow efficiency to traders while maintaining their anonymity.

The proprietary staging workflow is consistent with RealTick EMS’s support for multi-broker trading.

According to the release, with this functionality, traders can stage orders without committing to a specific broker, and then send portions of the staged orders to multiple brokers.

“RealTick’s patented method uses a two-tier accounting system, where the parent-order is staged into a neutral aggregation account and each child-order is placed in a broker sub-account,” stated Derek Gover, director of trading systems development for Eze Software Group’s RealTick EMS division and co-inventor of the patented system. “The details of the child-order are revealed only to the broker executing that portion of the order.”

The trader remains in control of execution decisions at the time of the trade, but each broker in RealTick’s extensive broker-dealer network controls attributes of their sub-accounts, such as suitability rules, credit checks, and short locates, according to the release. RealTick’s patented Neutral Account Staging method simplifies and streamlines the order management process for multi-broker trading, providing greater control and workflow efficiency to both buy-side and sell-side customers, states the company.

Commenting on the patent, Daniel Rooney, president of Eze Software Group’s RealTick EMS division, said: “RealTick has always been a leader in providing multi-broker functionality and this patent recognizes that strength. Since its release, a majority of our customers have adopted Neutral Account Staging for aggregated orders as their preferred workflow.” Separately, Eze Castle Software Group began operations last week Eze Castle Software Group said yesterday that it was received a patent from the United States Patent and Trademark Office for its RealTick EMS. The patent covers the proprietary technology and methodology for staging electronic orders into a neutral aggregation account for execution, providing workflow efficiency to traders while maintaining their anonymity.

The proprietary staging workflow is consistent with RealTick EMS’s support for multi-broker trading.

According to the release, with this functionality, traders can stage orders without committing to a specific broker, and then send portions of the staged orders to multiple brokers.

“RealTick’s patented method uses a two-tier accounting system, where the parent-order is staged into a neutral aggregation account and each child-order is placed in a broker sub-account,” stated Derek Gover, director of trading systems development for Eze Software Group’s RealTick EMS division and co-inventor of the patented system. “The details of the child-order are revealed only to the broker executing that portion of the order.”

The trader remains in control of execution decisions at the time of the trade, but each broker in RealTick’s extensive broker-dealer network controls attributes of their sub-accounts, such as suitability rules, credit checks, and short locates, according to the release. RealTick’s patented Neutral Account Staging method simplifies and streamlines the order management process for multi-broker trading, providing greater control and workflow efficiency to both buy-side and sell-side customers, states the company.

Commenting on the patent, Daniel Rooney, president of Eze Software Group’s RealTick EMS division, said: “RealTick has always been a leader in providing multi-broker functionality and this patent recognizes that strength. Since its release, a majority of our customers have adopted Neutral Account Staging for aggregated orders as their preferred workflow.” Separately, Eze Castle Software Group began operations last week following the acquisition of Eze Castle Software, RealTick and Tradar by private equity firm TPG from its previous owner ConvergEX.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

Comment  | 
Print  | 
More Insights
Register for Wall Street & Technology Newsletters
White Papers
Current Issue
Wall Street & Technology - Elite 8, October 2014
The in-depth profiles of this year's Elite 8 honorees focus on leadership, talent recruitment, big data, analytics, mobile, and more.
Video
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.