Stuart R Serkin

US Patent:

7209896, Apr 24, 2007

Filed:

Sep 23, 1999

Appl. No.:

09/401892

Inventors:

Stuart Serkin - Fairfield CT, US
John Malitzis - Washington DC, US
Richard G. Ketchum - Alexandria VA, US

Assignee:

The Nasdaq Stock Market, Inc. - Washington DC

International Classification:

G06Q 40/00

US Classification:

705 37, 705 35, 705 36

Abstract:

A system for handling quotes in an electronic market is described. The system includes a lock/cross quote detector which determines whether a quote which is entered into the market system would lock or cross other quotes in the market system and a quote formatter that receives quotes that, if entered, would lock or cross the market and reformats the quotes as marketable liability orders. The system includes a routing process that routes reformatted quotes as marketable liability orders to a market participant whose quote was locked or crossed.

US Patent:

7523062, Apr 21, 2009

Filed:

Jul 25, 2002

Appl. No.:

10/206129

Inventors:

Daniel F. Moore - New Haven CT, US
Fred Steining - Derby CT, US
Stuart Richard Serkin - Fairfield CT, US
Timothy Vincent - Shelton CT, US

Assignee:

The Nasdaq OMX Group, Inc. - Rockville MD

International Classification:

G06Q 40/00

US Classification:

705 37, 705 38, 705 36, 705 35

Abstract:

A securities processor includes a prematching process for validating an attributable security interest message placed by a market participant on a securities trading system This attributable security interest message relates to an individual security chosen from a plurality of securities traded on the securities trading system. A matching queue receives the validated attributable security interest message from the prematching process, and queues it for subsequent matching. A matching process obtains the validated attributable security interest message from the matching queue and compares it with previously-validated attributable security interest messages to determine if a match occurs between the validated attributable security interest message and one of the previously-validated attributable security interest messages.

US Patent:

7870056, Jan 11, 2011

Filed:

Jan 19, 2007

Appl. No.:

11/625127

Inventors:

Richard G. Ketchum - Alexandria VA, US
Stuart Serkin - Fairfield CT, US
John Malitzis - Washington DC, US
Peter Martyn - Ridgewood NJ, US
Debra Peter - Newfoundland NJ, US
Patti Dizenhaus - Manalapan NJ, US
Doug Brown - Washington DC, US

Assignee:

The NASDAQ OMX Group, Inc. - Rockville MD

International Classification:

G06Q 40/00

US Classification:

705 37, 705 35, 705 26

Abstract:

An electronic market for trading of securities includes a plurality of client stations for entering quotes for securities and a server process that receives quotes from the clients, aggregates the quotes and causes a total of all aggregated quotes to be displayed for a plurality of price levels on the client systems. The market uses a graphical user that depicts aggregated quotes in an aggregate window a plurality of price levels of a product traded in the market. The market also includes processes to handle lock/cross market conditions, match-off of order flow and provides a central quote/order collector that interfaces to disparate order delivery systems to minimize dual liability of market makers.

US Patent:

7895112, Feb 22, 2011

Filed:

Jul 25, 2002

Appl. No.:

10/206316

Inventors:

James N. Richmann - Lewes DE, US
Stuart Serkin - Fairfield CT, US
Timothy Vincent - Shelton CT, US
Fred Stiening - Derby CT, US
Daniel F. Moore - New Haven CT, US

Assignee:

The NASDAQ OMX Group, Inc. - Rockville MD

International Classification:

G06Q 40/00

US Classification:

705 37

Abstract:

A system for execution of transactions includes a main memory of a computer system storing an order book to match a portion of security interest in the order book to a received order for a security.

US Patent:

7921051, Apr 5, 2011

Filed:

Jul 25, 2002

Appl. No.:

10/206148

Inventors:

Stuart Richard Serkin - Fairfield CT, US
Robert Miller - Milford CT, US
Timothy Vincent - Shelton CT, US
Edward A. Perrault - Westport CT, US

Assignee:

The Nasdaq OMX Group, Inc. - Rockville MD

International Classification:

G06Q 40/00

US Classification:

705 37, 705 35

Abstract:

A system in an electronic securities market includes a configurable look-up table that has assignment entries that assign each of a plurality of securities to one or more securities processors in the system. Whenever an order is received that involves a specific security, a security look-up process accesses the configurable look-up table to determine which securities processor the specific security is assigned to. Once determined, a messaging process, which is responsive to the security look-up process, sends the received security order to the securities processor to which the specific security is assigned.

US Patent:

7933827, Apr 26, 2011

Filed:

Jul 25, 2002

Appl. No.:

10/206892

Inventors:

James N. Richmann - Lewes DE, US
Daniel F. Moore - New Haven CT, US
Stuart Serkin - Fairfield CT, US
Timothy Vincent - Shelton CT, US
Peter J. Martyn - Ridgewood NJ, US
Mark DeNat - Bedford NY, US

Assignee:

The NASDAQ OMX Group, Inc. - Rockville MD

International Classification:

G06Q 40/00

US Classification:

705 37, 705 35, 705 36, 705 39, 705 44

Abstract:

Multiple securities processors each process attributable security interest messages generated by market participants. Each of these attributable security interest messages relates to a specific security chosen from a plurality of securities traded on the securities trading system, such that each individual security is assigned to one or more of the securities processors. An order routing system routes each attributable security interest message to one of the securities processors.

US Patent:

8239303, Aug 7, 2012

Filed:

Sep 23, 1999

Appl. No.:

09/404518

Inventors:

Peter Martyn - Ridgewood NJ, US
Stuart Serkin - Fairfield CT, US
John Malitzis - Washington DC, US

Assignee:

The NASDAQ OMX Group, Inc. - New York NY

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 35, 705 37

Abstract:

A market system that includes an internal execution process is described. The system includes an order execution process that receives orders and matches orders against quotes posted in the system on a time priority basis and an order match-off process that checks if a market participant identification associated with a received order matches a market participant identification representing a quote in the system that is at the best bid or best offer price in the system.

US Patent:

8407116, Mar 26, 2013

Filed:

Sep 23, 1999

Appl. No.:

09/401873

Inventors:

Stuart Serkin - Fairfield CT, US

Assignee:

The NASDAQ OMX Group, Inc. - New York NY

International Classification:

G06Q 40/00

US Classification:

705 35, 705 36 R, 705 37

Abstract:

A collector facility for an electronic market is described. The collector facility includes an interface for coupling order delivery systems to the order collector facility and a quote manager that manages multiple quotes/orders received from the interface at multiple price levels. The facility also includes a montage manager to display quotes received from the quote order manager in an aggregate montage or a current quote montage consistent with parameters specified in the multiple quotes.