Leon B Maclin

20070288342, Dec 13, 2007

May 13, 2006

11/433000

Leon Maclin - New York NY, US
David Mechner - New York NY, US

G06Q 40/00

705037000

The invention is a computer method and system that attempts to minimize the risk-adjusted cost of trading securities in a liquidity pool such as a crossing network or dark book. A mathematically optimal trade-out schedule or trajectory is used to remove shares incrementally over time from the liquidity pool and trade them out to other marketplaces. The trade-out schedule is optimal in that it minimizes the risk-adjusted cost of execution by considering factors such as a) the risk of failing to find a crossing counter-party for all or some of the quantity submitted to the liquidity pool and having to execute that quantity as a liquidity depleting order in other markets, b) the risk of adverse price movement, c) the expectation of adverse price movement, d) the cost of executing orders in other markets, and e) the potential cost savings of finding a cross in the liquidity pool. The quantity still remaining in the liquidity pool—the “reserve”—is available for crossing up to a specified discretionary limit.

6584471, Jun 24, 2003

Feb 14, 2000

09/504328

Leon Maclin - Jersey City NJ, 07310
Alexander Greyserman - Short Hills NJ, 07078

G06F 700

7071041, 707102, 707 5

A system and method for receiving, organizing and displaying information received from a plurality of users, having a hierarchical database with at least one expandable level, at least one of the at least one expandable levels having at least two expandable sublevels; an interactive interface for placing each user at a level and sublevel in the database, receiving. user-supplied information for modification and addition to the content and structure of the levels and sublevels of the database, receiving user-supplied commands for navigating through and extracting content from the database, presenting content from the database in accordance with the information and commands supplied; a counting routine which increments a level and sublevel specific counter each time a user is placed at a level and sublevel within the at least two expandable levels and sublevels; and a database sorting function for gathering the plurality of user-supplied information and commands virtually simultaneously, and updating the hierarchical structure of the database in accordance with the magnitude of the number of the specific counter. The database levels and sublevels are categories, subcategories and query items. The commands are search, add, select and interact.