Method for dynamically creating a receiver definable local trading instrument displayable record from a remotely transmitted trading instrument common data stream

710236 (22) Date of fi I ing 30 Apr 1987 (30) Priority data (31)858057 (32)1 May 1986 (33) US (71) Applicant Reuters Limited (Incorporated in United Kingdom),

Fleet Street, London EC4P 4AJ (72) Inventor

Shelly Boilen (74) Agent and/or Address for Service

Edward Evans & Co., Chancery House, 53—64 Chancery Lane, London WC2A 1SD (51) INTCL⁴

G09G 1/00 G06F15/30 (52) Domestic classification (Edition I)

H4T109121 BAX (56) Documents cited

None (58) Field of search

G4H

H4T

Selected US specifications from IPC sub-classes G06F G09G (54) Method for dynamically creating a receiver definable local trading instrument displayable record from a remotely transmitted trading instrument common data stream (57) A local subscriber defines their own filter sets and/or local templates (Fig. 6) which are used to select portions of trading instrument displayable data records from a common remotely transmitted data stream of updateable trading instrument data records (e.g. Fig. 3). The selected records are used to create reconstituted data records (Fig. 4) different from the transmitted trading instrument data records (Fig. 3). A common one ofthe defined filter sets and/or local templates may be used for a plurality of different data records having a common desired set of information categories. The transmitted data may be in a logical data format or a page display format, in which instance it is converted to a logical data format. The local template may be repetitively used on different display rows of a given page display and/or on different page displays to provide a plurality of receiver defined locally created trading instrument display records so that only the information desired bythe local subscriber is displayed on their screen as user defined local trading instruments (Fig. 4).

<td> GOLD Μ0Ν7Ή</td><td> PP/CE</td><td> PP£Y. N/GU</td><td> LON</td><td> CLOSE</td>

<td> ί JAN</td><td colspan="2"></td><td> i</td><td> 52</td>

<td> ΕΕβ</td><td> E8</td><td> S3 56</td><td> 53</td><td> 55</td>

<td></td><td> 61</td><td> 56 64</td><td> 56</td><td> 61</td>

<td> J APP</td><td colspan="2"></td><td></td><td></td>

<td> MAY</td><td> 59</td><td> 56 S9</td><td> 54</td><td> 56</td>

<td> JUN</td><td> 60</td><td> 57 60</td><td> 5/</td><td> 59</td>

<td> JUL</td><td> 6Z</td><td> 60 64</td><td> 58</td><td> 62</td>

<td> AUG</td><td> 64</td><td> 66 66</td><td> 63</td><td> 63</td>

<td> SEP</td><td> 62</td><td> 66 70</td><td> 60</td><td> 62</td>

<td> OCT</td><td> 60</td><td> 64 64</td><td> 60</td><td> 60</td>

<td> NOV</td><td> 59</td><td> 62 6Z</td><td> 59</td><td> 59</td>

<td> DEC</td><td> 60</td><td> 64 64</td><td> 60</td><td> 60</td>

FIG.3

<img file="GB2191069A_D0001.tif" />

FIG. 4

USEP TEAPP£.A7~E-PfOP7P,tUGP, LOtVj CLOSE

FIG.6 ι z Qn

The drawings originally filed were informal and the print here reproduced is taken from a later filed formal copy.

The references to figures 9 to 11 ofthe drawings inthe printed specification are to be treated as omitted under Section 15(2)/15(3) ofthe Patents Act 1977.

The specification as filed includes a computer program which is not here reproduced; it may be inspected in accordance with

Section 118 of the Patents Act 1977.

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<td colspan="6"> gold</td>

<td> //0//77/</td><td> PF/CE</td><td colspan="2"> PREY. ///6//</td><td> 40//</td><td> CL055</td>

<td> ! JAM</td><td colspan="2"></td><td> 54</td><td> ί so !</td><td> 52 J</td>

<td> C£&lt;3</td><td> 58</td><td> 53</td><td> 58</td><td> 53</td><td> 55</td>

<td> M/AR</td><td> G1</td><td> 56</td><td> 64</td><td> 5G</td><td> 61</td>

<td> \ APR</td><td colspan="2"></td><td> GO</td><td> J 57 }</td><td> 5Θ J</td>

<td> MAY</td><td> 59</td><td> 58</td><td> 59</td><td> 54</td><td> 58</td>

<td> JUM</td><td> 60</td><td> 57</td><td> 60</td><td> 5/</td><td> 59</td>

<td> JUL</td><td> 62</td><td> 60</td><td> 64</td><td> 58</td><td> 62</td>

<td> AUG</td><td> 64</td><td> 66</td><td> 66</td><td> 63</td><td> 63</td>

<td> STA</td><td> 62</td><td> 66</td><td> 70</td><td> 60</td><td> 62</td>

<td> OCT</td><td> 60</td><td> 64</td><td> 64</td><td> 60</td><td> 60</td>

<td> ΜΌ7</td><td> 59</td><td> 62</td><td> 62</td><td> 59</td><td> 59</td>

<td> DEC</td><td> 60</td><td> 64</td><td> 64</td><td> 60</td><td> 60</td>

FIG.3

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FIG. 4

JG1 = JAM. GOEO, ///6//, 40//, C4OS3

FIG.5

DSEP 77=://1 P4 A 7~£ =ΜΤ7/7Ν, ///5// LO//, CLOSE

FIG. 6 \APR

I 60 | \57 I {59

FIG.7

APG / =r APR. GOLD, ///6//,40//, C4OS5

FIG. 8

GB 2 191 069 A 1

SPECIFICATION

Method for Dynamically Creating a Receiver Definable Local Trading Instrument Dispiayable Record from a Remotely Transmitted Trading Instrument Common Data Stream

The present invention relates to methods for dynamically creating a receiver definable local trading 5 instrument displayable record from a remotely transmitted trading instrument common data stream, such 5 as a transmitted trading instrument common data stream comprising a plurality of transmitted trading instrument data records which may be transmitted in a logical data format and/or in a page display format comprising a plurality of displayed rows for each page in which instance the page display format is initially converted to a logical data format before creating the receiver defined local trading instrument displayable record, which local trading instrument displayable record is new local trading instrument displayable 10 record which is a reconstituted data record different from the transmitted trading instrument data record.

High performance, real-time information retrieval networks are well known in the art, such as the Reuters Monitor system employed for transmitting financial transaction information such as stock market information and other trading instrument information to brokers, banks and other subscribers. Such

5 information is normally transmitted in a trading instrument common data stream, for examplethe 15 apparatus described in our co-pending application filed today U.K. application number 87 10237. Such a trading instrument common data stream normally contains a large number of information categories which professional traders and financial planners use in orderto evaluate what action to take in connection with a given financial transaction. However, different professional trader and different financial planners require only certain aspects ofthe vast number of information categories normally transmitted. Thus, for example, 20 a given professional trader or financial planner might only be interested inthe month, high, low and closing price for gold and not be interested in the various other categories associated with the transmission of a trading instrument relative to gold, or he might be interested only in price and volume if he were doing charting or only in closing price if he were doing portfolio evaluation. In such an instance, in conventional prior art systems and methods, the professional trader or financial planner receiving the common data 25 stream must display all ofthe information relative to the trading instrument in the above example including considerable information which is extraneous to his purpose. This is undesirable, particularly in today's environment involving the transmission of high volumes of financial instruments which normally undergo a high frequency of changes in price and other characteristics or information categories including those that are of interest to only certain financial planners or professional traders. Just as was described inthe 30 aforementioned copending U.S. patent application with respect to the problems which were overcome by allowing the local user to create its own unique local data base from the pool of available transmitted information, since a local user or subscriber, such as a bank, may not be interested in the entire data base supplied by an information supplier such as Reuters which supplies worldwide information relating to a vast number of financial instruments, the local subscriber may not be interested in displaying all ofthe 35 information categories relating to the trading instruments which make up its unique local subscriber data base.

In an effort to overcome some ofthese problems, Reuters developed a Monitor Manipulation Processor for extracting entire pages of data from its REUTERS MONITOR data stream; however, such a system does not readily allowforthe creation at the receiver of unique new local trading instrument displayable records which are reconstituted data records different from the transmitted trading instrument data records and 40 tailored to contain and display only the information categories desired by the local subscriber. Moreover, in accordance with the present invention, these new locally identifiable trading instrument displayable data records which are created atthe receiving end from the common remotely transmitted trading instrument data stream in accordance with the displayable information needs ofthe user or local subscriber are dynamically updateable as if they were an originally transmitted data record thereby enabling the local 45 subscriberto create and display his own locally defined trading instruments which are unique subsets of the transmitted trading instruments. This may be accomplished with received transmitted trading instrument data records in a logical data format and/or page display format in which instance they are initially converted to a logical data format through the use of locally created templates and filter sets.

Moreover, although templatesperse have been used ata local receiver to match information by a 50 comparison technique such as disclosed in U.S. Patent Nos. 4,530,095; 4,507,750; 4,504,735; 4,499,499; 4,488,005; 4,468,204; 4,463,386; 4,388,495; 4,383,135; and 4,336,810, none ofthese prior art systems known to applicant employs a locally created template to create a new locally identifiable trading instrument displayable data record from a page display format transmitted trading instrument displayable data record nor do they disclose the use offilter sets to create such locally identifiable trading instrument displayable 55 data records comprising reconstituted data records which are different from the transmitted trading instrument data record, nor such newly created records which can be dynamically updated. Thus, the presently preferred method and system ofthe present invention enables unique user defined locally identifiable trading instrument displayable data records to be created at the receiving end from a common remotely transmitted trading instrument data stream dependent on the displayable information needs of 60 the user or local subscriber. Accordingly, the disadvantages ofthe prior art are overcome by the system and method ofthe present invention.

The present invention relates to a method and system for dynamically creating a receiver definable local trading instrument displayable data record from a remotely transmitted trading instrument common

GB 2 191 069 A 2 data stream whereby unique user defined locally identifiable trading instrument displayable data records maybe created atthe receiving end from the common remotely transmitted trading instrument data stream dependent on the dispiayable information needs ofthe user or local subscriber. The transmitted trading instrument common data stream may be in the form of logical data records and/or in a page display format comprising a plurality of display rows, in which instance, the page display format is converted to a logical data format priorto the creation ofthe receiver definable local trading instrument displayable data records. In either instance, the transmitted trading instrument common data stream which is provided from a remote source comprises a plurality of transmitted trading instrument data records. When the transmitted data records are in a logical data format, each of ths trading instrument data records comprises a plurality of different displayable information record fields with each ofthe displayable information record fields for a particular trading instrument data record comprising an information category for the particular trading instrument.

When the transmitted trading instrument data record is in a page display format, a local receiver template is defined atthe receiving end in orderto convert the page display format to a logical data format.

ln defining the local receiver template, data locations in a portion ofthe page display format are defined for defining relative positions of logical fields in the page display format for a given display row in the page display format for providing a local template defined set of displayable information record fields. Each of the defined data locations comprises a defined area ofthe page display format display row. Each ofthe defined areas comprises an individual displayable information record field in the received transmitted displayable page data record with the displayable page data record comprising a plurality of bytes. In such an instance, each field is defined byan offset from the beginning of the associated area andthe numberof bytes comprising the field.

In either instance, a desired filter set of displayable information record fields is defined at the receiving end with the defined desired filter set comprising a plurality of record field identifiers. Each ofthe record field identifiers is uniquely associated with a different one ofthe displayable information record fields, with the defined filter set comprising a receiver defined portion of the plurality of available displayable information record fields. In the instance when a local receiver tern plate is employed for data in a page display format, the desired filter set is defined in the local receiver template and is extracted from the local receiver template with the extracted filter set comprising a plurality of record field identifiers.

When the transmitted trading instrument data record is in the form of logical data, it is tagged in the received transmitted trading instrument common data stream with the desired receiver defined filter set for defining a new receiver defined local trading instrument displayable data record for each ofthe tagged transmitted trading instruments with the new local trading instrument dispiayable data record comprising only the portion of the information categories corresponding to the receiver defined portion of displayable information record fields. Thus, a new user defined local trading instrument is created which provides a display of only the information desired bythe local subscriber. Moreover, this new user defined local trading instrument may be dynamically updated as the particular categories defined in this new local trading instrument are dynamically updated in the transmitted common data stream so that from the local subscriber's pointof view it appears as if he is dynamically receiving his uniquely tailored local trading instruments such as stocks, bonds or other financial instruments. When the particular transmitted trading instrument data record is in a page display format, this record is tagged inthe common data stream with the associated local receiver template for defining a new receiver defined local trading instrument displayable data record for each ofthe tagged transmitted trading instrument displayable page data records, with the extracted filter set displayable information record fields defining the new receiver defined local trading instrument displayable data record which comprises a reconstituted data record different from the transmitted trading instrument displayable page data record. This is also true for data in the logical data format wherein the extracted filter set displayable information fields comprise a reconstituted data record for each ofthe created new local trading instrument displayable data records which reconstituted data record is different from the transmitted trading instrument data record.

In accordance with the presently preferred method ofthe present invention, the filter set and/or the template may be varied or a common filter set and/or template may be used for a plurality of different transmitted trading instrument data records so as to provide a plurality of receiver defined new local instrument trading instrument displayable data records having a common set of information categories, such as for all NYSE stocks or for the stocks in the Dow Jones Average. Moreover, in the instance of data transmitted in a page display format, the user created local template may be repetitively used on different rows of a given page display and/or on different page displays to provide a plurality of receiver defined new local trading instrument displayable data records.

By employing the method and system ofthe present invention an efficient system for dynamically creating receiver definable or locally identifiable dynamically updateable local trading instrument displayable data records atthe receiver end or local subscriber so that only the information desired bythe local subscriber is displayed on his screen as user defined local trading instruments is achieved.

Fig. 1 is a diagrammatic logic flow diagram illustrating the presently preferred method ofthe present invention for dynamically creating locally identifiable receiver defined dynamically updateable local trading instrument displayable data records at the receiver end from a remotely transmitted common trading instrument data stream;

GB 2 191 069 A 3

Fig. 2 is a diagrammatic logic flow diagram ofthe presently preferred method ofthe present invention illustrated in Fig. 1, illustrating the presently preferred method fortreating the logical data and/or page data feed illustrated in Fig. 1;

Fig. 3—8 are diagrammatic illustrations relating tothe creation of local templates forthe treatment of 5 data transmitted in a page display format in accordance with the presently preferred method ofthe present invention illustrated in Fig. 1;

Fig. 9 is a diagrammatic illustration ofthe presently preferred method of creating fields in converting page data to logical data in accordance with the presently preferred method ofthe present invention illustrated in Fig. 1;

Fig. 10 is a diagrammatic illustration of a typical data record in accordance with the presently preferred method ofthe present invention; and

Fig. 11 is a diagrammatic illustration, similarto Fig. 10, of a typical update data record for price in accordance with the presently preferred method ofthe present invention.

For purposes of illustration, the presently preferred method ofthe present invention shall be described 15 in terms of an information retrieval system for trading instrument data, such as stock market data and money market information and particularly in terms of use with a high speed remotely transmitted data feed or common data stream of such trading instrument data records such as REUTER MARKETSTREAM which is described in the aforementioned commonly owned copending U.S. Patent Application Serial No. 813,703, filed December 27,1985, specifically incorporated by reference herein in its entirety, and which is a protocol used for long distance transmission of logical data which is ISO compatible. As shown and preferred in Fig. 1, and as will be described in greater detail hereinafter, the presently preferred method of the present invention is also usable with trading instrument data records which are transmitted in a page display format as opposed to a logical data feed, such as illustrated in Fig. 3, wherein the page display data is preferably converted to logical data in accordance with the presently preferred method ofthe present invention priorto treating the data to provide a locally identifiable or receiver defined local trading instrument displayable data record in accordance with the presently preferred method ofthe present invention.

For purposes of thefollowing description ofthe presently preferred method ofthe present invention, it is assumed thatthe system employed transmits and receives standard 8 bit ASC11 characters and thatthere is a perfect transmission link in keeping with an ISO OSI model.

Referring initially to Fig. 1, the general approach tothe presently preferred method ofthe present invention is shown. A common remotely transmitted trading instrument data stream, such as the aforementioned REUTER MARKETSTREAM, is transmitted from the remotely located transmitter data base 20 to the various local receiver data bases located at a plurality of local subscribers, with only one such typical subscriber data base 22 being illustrated in Fig. 1. Atthe local receiver data base 22, the local subscriber may create its own local data base as a subset from the overall transmitted data base 20, such as in accordance with the method described inthe aforementioned copending U.S. Patent Application Serial No. 813,703, filed December 27,1985 incorporated by reference herein. The transmitted common data stream may contain trading instrument displayable data records which are in a page display format as represented by reference numeral 24, such as illustrated in Fig. 3, and/or in the presently preferred logical data format, represented by reference numeral 26, which is the format ofthe REUTER MARKETSTREAM data feed, such as described inthe aforementioned copending U.S. Patent Application Serial No. 813,703,. filed December 27,1985. These transmitted trading instrument data records are preferably identified by unique codes or RICs. As shown and preferred in Fig. 1, and as previously referred to, trading instrument displayable data records which are desired or requested bythe local.subscriberand which are transmitted and received in a page display format are first preferably converted to a logical data feed format such as employed forthe REUTER MARKETSTREAM data feed, as represented by reference numeral 28, and then treated as a logical data feed in the same manner as the transmitted and received logical data feed data, as represented by reference numeral 30. Thereafter, the local receiver processes the receiver defined locally identifiable trading instrument displayable data records, as represented by reference numeral 32, to provide a tailored display ofthese unique user defined or local trading instruments, as represented by reference numeral 34.

Trading instrument data records, such as illustrated in Fig. 10, normally contain a plurality of fields or information categories relating to the particular trading instrument which fields in a logical data record such as REUTER MARKETSTREAM are each identified by a unique field identifier or FID which is preferably a numeric identifier. Byway of example, the below table illustrates a typical group of fields and corresponding unique numeric field identifiers which could be employed with a logical data feed common data stream to be treated in accordance with the presently preferred method ofthe present invention to provide uniquely tailored locally identifiable receiver defined updateable trading instrument displayable data records employing one or more ofthese fields for any given trading instrument or RIC dependent on the needs and desires of the local subscriber, with the local subscriber using a filter set, which is a subset of fields, to define those particular fields which are relevant to his interest, in accordance with the presently preferred method ofthe present invention. These filter sets are, in turn, preferably uniquely defined by filter set identifiers which are unique numeric identifiers ofthe filter sets.

GB 2 191 069 A 4

FID Field Name

Display-Name

ExchangeJD 5Trade_Price_1 6Trade_Price_2 7Trade_Price_3 8Trade_Price_4 9Trade_Price_5

Net-Change

High

Low

Price-Tick

Currency-Code

Last_Activity_Type

Trade-Date

Date_of_Activity 18Trade_Time

Time_of_ Activity

Open

Close

Previous-Close

Historic-Close

Bid-Price

Ask_Price

Bid_size

Ask_Size

Bid_Ask_Condition_Code

Accumulated-Volume

Dividend

Earnings

Yield

Price_Earnings_Ratio

Dividend_Payment_Date

Ex_Dividend_Date

Block-Count

Block-Volume 42Trade_Exch_ID

Bid_Exch_ID

Ask_Exch_ID

Open_1

Open_2

Open-Type

Close-1

Close-2

Close-Type

Previous_Close_1

Previous_Close_2

Previous_Close_Type

Historic_Close_1

Historic_Close_2

Historic_Close_Type

Dow_Jones_News_Time

Market_Condition_Code

Life_of_Contract_High

Life_of_Contract_Low

Open-Interest

Open_lnt_Net_Change

Strike-Price

Expiration_Date

Maturity-Date

CouponiRate

Settlement-Price

Previous_Settlement_Price

Settlement_Net_Change

Nominal-Price

Typical Field List

Ring-Price

Upper_Trading_Limit

Lower_Trading_Limit

Number_of_Moves

High-Type

Low_Type

Close-Bid

Close_Ask

Official_Exchange_Number

Ex_Markers

Kassakurse_Price

Kassakurse-Qualifier

Issue-Time

Parity-Price

Forward-Price

Geloster_Price-Indicator

First_Period_Price

Second_Period_Price

Capitalisation

Buying_Contracts

Selling-Contracts

Euroclear_Number

Number_of_Buyers

Number_of_Sellers

AM_Close

PM_Close

Open_lnterest_1-Day-Previous

100 Open_lnterest_2_Day_Previous

101 Open_Range_1st_Extreme

102 Open_Range_2nd_Extreme

103 Kerb-Trade

104 Kerb-Bid

105 Kerb-Ask

106 Kerb-Volume

107 Redemption-Price

108 Issue-Price

109 Accrued-Interest

110 Fiscal-Credit

111 Gross-Dividend

112 Net-Dividend

113 Echeance_Month

114 Echeance_Number

115 Echeance_Price_1

116 Echeance_Price_2

117 Echeance_Price_3

118 Echeance_High_1

119 Echeance_High_2

120 Echeance_High_3

121 Echeance_Low_1

122 Echeance_Low_2

123 Echeance_Low_3

124Currency_Fixing_lntbnk_Price

125 Currency_Fixing_Bid_Price

126 Currency_Fixing_Ask_Price

127 Report-Deport

128 Premium

GB 2 191 069 A 5

It should be noted that the above exemplary fields are preferably variable length with a typical data record being illustrated in Fig. 10, using ASCII data separators, with the symbol IS representing an information separator. The ASCII information separators, such as file separator (FS), group separator (GS), record separator (RS) and unit separator (US), are used in a hierarchial manner, i.e. when they are used as parentheses the lower level separator has the effect of closing the parentheses for that level and all higher 5 onces, as illustrated in Fig. 11. For example, in REUTER MARKETSTREAM there in a hierarchy of fields and groups of fields which is supported bythe presently preferred method ofthe present invention; e.g., the fields of an update FID and Data, are separated from each other bythe ASCII separator &lt;US&gt;, andthe pair FID &lt;US&gt; &lt;DATA&gt;, are separated from additional pairs bythe ASCII separator &lt;RS&gt; in the conventional BNFtype of notation employed hereinafter in describing the presently preferred method ofthe present 10 invention. In employing this exemplary BNF notation herein, thefollowing definitions are employed: &lt;...&gt; is used to enclose a named thing; &lt;Alpha name&gt; represents any RIC: &lt;Application specific field&gt; indicates a field of characters sent, unique to an implementation; &lt;Filterset&gt; represents a subset of fields relevant to a host which is a computer, such as an IBM PC operating in accordance with the presently preferred method of the present invention, for receiving the processed logical data feed or contributed data 1 5 provided as opposed to a TC or terminal controller which transmits the processed logical data feed or receiver contributed data; &lt;Filter Set ID&gt; represents the numeric identifier of a filter set; &lt;Field ID&gt; represents a numeric identifier of a data feed field such as illustrated above in the typical field list; &lt;Local field ID&gt; is the same as a field ID but defined bythe host; &lt;Field Data&gt; represents the ASCII equivalent of an update and allows for partial field data; &lt;Source Logical address&gt; represents the logical address, such 20 as 24 bits expressed as six hexadecimal characters; CIP represents the contributor interface processor;

&lt;RTL&gt; represents the transaction level which is incremented each time an update or correction is received fora record; &lt;DATA Partition&gt; which represent the field which denotes the database partition which has this RIC, &lt;RIC&gt; which represents the unique code for a transmitted record; cTemplate number&gt; which represents the number indicating the template associated with a record which template, in accordance with 25 the presently preferred method ofthe present invention, enumerates the fields ofa record and associates the field IDs with that template and is used in connection with a page display data feed; &lt;Parse Method&gt; which is the method used to extract logical data from page data; Presentation Method&gt; which is the method used to convey a logical field derived by parsing. The ASCII or ISO separators FS, GS, RS, US, referred to above, are enclosed in &lt;&gt; as well. 30

In addition to the above notation, thefollowing notation is also employed herein: 1{...}m indicates that the enclosed structure may occur 1 to m times; () encloses optional structures; COMMAND represents a host-to-TC communication; TRANSMISSION represents a TC-to-host communication; MESSAGE represents either a command or transmission; Filter set 0 by convention means all fields; Port represents the circuit (physical/virtuai). With respect to the presentation syntax employed, objects are named and used 35 in &lt; &gt; while literals are not contained in &lt; &gt;; items that can occur a variable numberof times are presented as m{...}n indicating thatthe named structure can occurfrom m to n times; and optional fields are enclosed by (). With respectto the control codes employed, CSI is the ISO control sequence introducer; REP is an ISO control sequence represented by CSI n b and indicates that the prior graphic character is to be repeated n times; CUFisthe ISO editor function cursor forward represented by CSI n C, where n isthe numberof 40 character positions forward the cursor is moved; CAN is an ISO control used to indicate that the data since the prior &lt;FS&gt; is in error and should be discarded; and EM which is the ISO end of medium character received for use bythe packet layer-presentation layer interface. It should be further noted that field contents are represented in a display compatible form with members preferably being represented by a sequence of ASCII characters and with any offset into a field being indicated bythe ISO editor function CUF 45 cursor forward which is represented by CSI n C where n is the offset value.

Now that the basic notation to be used herein in describing the presently preferred method ofthe present invention has been defined, the various steps employed herein will be described in greater detail hereinafter using thus notation. However, before doing this, the method ofthe present invention shall generally be describedwith reference to Fig. 2. The host computer atthe local subscriber which processes 50 the incoming common data stream and creates the locally defined local trading instrument displayable data records dependent on the user's needs, may preferably be any conventional microcomputer capable of sending and receiving standard 8 bit ASCII characters, such as an IBM PC or IBM compatible computer, by way of example, capable of operating, by way of example, under a PL/M-86 compiler for C code, such as available from Lattice Inc. The host computer preferably determines whetherthe remotely transmitted 55 common trading instrument data stream data record being received is a logical data feed such as provided by REUTER MARKETSTREAM and described in the aforementioned U.S. Serial No. 813,703, filed December 27,1985, or a page display data format, as represented by reference numeral 50 in Fig. 2. Ifthe received record is a logical data feed, then the request list is examined bythe host computer to determine if this logical instrument record has been requested, as represented by reference numerals 52 and 54 in Fig. 2. 60

Priorto this, it is assumed thatthe local subscriber has created and indicated to the host computer a definition ofthe relevant filter set to be employed fora particular trading instrument or instruments of interestand has related each selected trading instrument to a user defined filter set. In addition, the user will have indicated whether a snapshotor one time request is desired or whether an updateable request is desired. Thereafter, ifthe host computer determines thatthe received logical trading instrument is one 65

GB 2 191 069 A 6 which has been requested bythe user or local subscriber, it looks up the relevant field set definition which has been tagged to that record or RIC and determines the particular fields selected bythe local subscriber, as represented by reference numerals 56 and 58 in Fig. 2. This information is then used to reformat the received tagged transmitted trading instrument data rcord into a new receiver defined local trading instrument displayable data record which is a reconstituted data record which comprises only the portion of the fields or information categories corresponding tothe user defined filter set as opposed to all ofthe various fields contained in the remotely transmitted trading instrument data record as represented by reference numeral 60 in Fig. 2, with the reconstituted data record being illustrated in Fig. 10. This reconstituted data record or locally identifiable trading instrument is then processed and displayed atthe local subscriber terminal by the terminal controller or TC, as represented by reference numeral 62 and 64 in Fig. 2, which display contains only the selected information categories desired bythe local subscriber. Moreover, this new local trading instrument may be dynamically updated in real time asthe received transmitted trading instrument data record is updated in the common data stream so that to the user it is as ifthe unique user defined local trading instrument had been transmitted as such from the source ofthe common data stream. Atypical update data message for price in accordance with the presently preferred method ofthe present invention is shown in Fig. 11 which employs the aforementioned hierarchical ASCII information separators.

As was previously mentioned, the transmitted original data records received bythe host computer may be in the form of page display data as opposed to a logical data feed, such as illustrated in Figs. 3 and 9, in which instance the received record is preferably first converted to the same type of format asthe logical data feed so asto preferably make the record independent of the display. Again referring to Fig. 2, ifthe received record is in a page display format, the local ID for the page is looked up bythe host computer in orderto determine if this page has been requested, as represented by reference numerals 66 and 68 in Fig.

2. The desired page display data is then preferably converted to logical data, as will be described in greater detail with reference to Figs. 3—9, as represented by reference numeral 70 in Fig. 2. As will be described in greater detail hereinafter, the local subscriber preferably creates local template definitions in accordance with the presently preferred method ofthe present invention. The user created local template definition defines the fields to be used in extracting data in the manner of the aforementioned field sets, but which are preferably used in the page-to-logical data conversion process as shown in Fig. 9. The page display data record is tagged with the local template whose definition is then looked up by the host computer and the relevant fields defined bythe local template are then extracted from the local template, as represented by reference numerals 72 and 74 in Fig. 2. Thereafter, since the page display data record has been converted to a logical data record, it is then preferably processed in the previously described manner used for a logical data feed.

As shown and preferred in Figs. 3—9, in converting page data to logical data in accordance with the presently preferred method ofthe present invention, a local template is first defined by the user and an area of a page is named and associated with that local template. The local template preferably assumes a continuous string of bytes to be a record with areas of that record then being chosen to be individual fields as illustrated by way of example in Fig. 9 which shows seven fields comprising exemplary template #1, which fields are defined by areas ofthe record, which record is illustratively shown as comprising one display row on the page, such as for DMK in the example of Fig. 9. These areas chosen to be individual fields are preferably chosen by specifying the offset from the beginning ofthe area andthe number of bytes that make up that field. Preferably, as shown by way of example in Fig. 9, the area is chosen by specifying an upper left corner and a lower right corner of a rectangle, with the area then being considered to be a continuous string with no breaks. Of course, the user could reasonably restrict the area to be the entire page by not allowing the start and end to be specified and, in the same way, fields could be restricted so thatthey do not cross display rows. Fig. 9 also illustrates a typical filter set definition which can be extracted from the local template defined therein as well as a typical snapshot request based thereon.

Figs. 3—8 illustrate another example, in simplerform, for converting page data to logical data and ultimately to the user defined local trading instrument. Thus, Fig. 3 illustrates a typical page display for an exemplary trading instrument for gold byway of example. Fig. 4 illustrates the user defined local template for a single display row which covers the particular categories or fields of interest for that user defined by areas in the page display of Fig. 3 which template is logically overlayed on the page display to create the local template defined local trading instrument, which is given a new logical instrument name, such as represented by JG1 in Fig. 5, with the template being represented in Fig. 6. Fig. 7 illustrates the repetitive use of this same local template definition for a different display row in the page display format of Fig. 3 to create a different local trading instrument represented by APG1 in Fig. 8. Thus, in converting page data to logical data, the page must be defined, the local template defined, the position ofthe template in the page display defined and the new local trading instrument be given a local ID or logical instrument name, whereby it can then preferably be treated in the same manner as transmitted logical data.

lt should be noted, however, that in accordance with the presently preferred method ofthe present invention, a single or common user created local template can be repetitively employed for different display rows of a given page display, as illustrated in Figs. 3—8, and/or for different page displays, in this regard, it should be noted that preferably all database items are conceived as records and fields of those records, with each record having a unique record name. In the instances where templates are employed, record formats

GB 2 191 069 A 7 are preferably defined by their template which isa list ofthefields within a record.Thus, records which have the same format have the same template. For example, as previously mentioned, all NYSE stocks could have the same template in accordance with the presently preferred method ofthe present invention.

With respect to field ID's for a given page display, they may preferably be arbitrary, with lines or half lines usually comprising fields. 5

Various ISO type control commands are preferably employed with the host computerto enable the host computerto act as a keystation as well as a computer in accordance with the presently preferred method of the present invention. Byway of example, and using the aforementioned BNFtype notation, these exemplary ISO type control commands are as follows, assuming the protocol employed in accordance with the presently preferred method of the present invention is the aforementioned MARKETFEED. 10

The Set Marketfeed Mode command which establishes Marketfeed as the protocol. The format is: &lt;CSI&gt;?100h,

The Reset from Marketfeed Mode command which returns the TC to normal mode. The format is: &lt;CSI&gt;?100m.

The Reset to Initial State which maybe used asa command or transmission and causes initialization. It 15 is a complete reset. The format is:

&lt;ESC&gt;c

The Soft Reset which clears the output queue and stops all update traffic. The format is:

CSIIp.

The Set Port On command which will enable the port. It is assumed that some other port will be 20 disabled by this command. The format is:

CSI?103h.

The Reset Port Off command which will disable the port. The only command that will be seen by the port is Set Port On. If a TC can only support a limited number of ports it needs these commands. The format is: 25

CSI?103m.

As was previously mentioned, an important aspect ofthe presently preferred method ofthe present invention relatesto the ability ofthe user or local subscriber to define filter sets, which may be added or deleted as desired in the user to provide the desired user defined locally identifiable trading instrument display records atthe receiver. These filter set definitions, as previously described, are preferably used by 30 the host computerto select a particular user defined collection of fields to be passed from a terminal controller or TC, with the filter sets controlling the data the host computer receives. For example, one filter set may be defined to contain price and volume bya host doing charting and another filter set may be defined to contain closing price only for a host computer that may be doing portfolio analysis. Byway of example, itis assumed that filter set 0 is defined to mean all fields, exclusive of permissions if they are 35 employed. The record of interest is preferably tagged bythe host with the relevant filter set number in accordance with the presently preferred method ofthe present invention, thereby eliminating the need to tag individual fields within the record. In the maintenance of filter sets in accordance with the presently preferred method ofthe present invention, various commands are employed byway of example. These exemplary commands are as follows, using illustrative message numbers which correspond to these 40 exemplary commands.

The Add Filter Set Definition (message #303) message which defines a filter set. This definition associates a filter set number with a list of field IDs and provides a way forthe host computerto define a collection of fields of interest.

The format is: 45 &lt;FS&gt;303 &lt;GS&gt; &lt;Filter_set_number&gt;

1{&lt;RS&gt; &lt;Field_ID&gt;}m &lt;FS&gt;

The drop Filter Set Definition (message #311) command which deletes filter set definition. It isan error 50 in accordance with the presently preferred method ofthe present invention to delete a filter set while data requests using that filter set are active.

The format is:

&lt;FS&gt;311 &lt;GS&gt; &lt;filterset_number&gt; 55 &lt;FS&gt;

The Drop all Filter Set Definitions (messages #406) command which deletes all filter set definitions. It is an error in accordance with the presently preferred method ofthe present invention to delete all filter sets while any request using a filter set is outstanding.

The format is: 60 &lt;FS&gt;406 &lt;FS&gt;

Apart from the above Filter Set maintenance message, two type of data requests are also preferably employed in accordance with the presently preferred method ofthe present invention. These are a request for data (snapshot) and a request for data to be followed by updates. 65

GB 2 191 069 A 8

The Data and Update Request (message #332) command requests the present values ofthe data selected by the filter set and enables updates of those fields for the named instrument to follow.

The format is:

&lt;FS&gt;332(&lt;US&gt;&lt;Application_specific_field&gt;) &lt;GS&gt;&lt;Alpha_name&gt;(&lt;US&gt;&lt;Filter_set_ID&gt;) &lt;FS&gt;

Other examples of possible commands employed in accordance with the presently preferred method of the present invention are as follows. The Cache Request (message #336) command which requests the controller to cache the data.

The format is:

&lt;FS&gt;336(&lt;US&gt;&lt;Application_specific_field&gt;) &lt;GSxAlpha_name&gt;(&lt;USxFilter_setJD&gt;) &lt;FS&gt;

As was previously mentioned, the default filter set is 0, all fields.

The Cache Release (message #337) command which requests the controller to unlock the data from cache.

The format is:

&lt;FS&gt;337(&lt;USxApplication_specific_field&gt;) &lt;GS&gt;&lt;Alpha_name&gt;

&lt;FS&gt;

The Cache Delete (message #387) command which requests the controller to delete the data from cache.

The format is:

&lt;FS&gt;387(&lt;USxApplication_specific_field&gt;) &lt;GS&gt;&lt;Alpha_name&gt;

&lt;FS&gt;

The Halt Updates (message #348) command which is used to halt updates on a given trading instrument or RIC.

The format is:

&lt;FS&gt;348(&lt;USxApplication_specific_field&gt;) &lt;GSxAlpha_name&gt;

&lt;FS&gt;

The Host Identify (message #371) command which allows a host to establish its logical address so the TC can get permissions.

The format is:

&lt;FS&gt;371(&lt;US&gt;&lt;Application_specific_field&gt;) &lt;GSxLogical_address&gt;

&lt;FS&gt;

The Time Request (message #372) command which requests the TC's time of day.

The format is:

&lt;FS&gt;372&lt;USxApplication_specific_field&gt;

(&lt;GSxRequest_type&gt;) &lt;FS&gt;

By way of example, ifthe Request type is 0 then time isto be sent once. Ifthe request type is 1 the time is to be sent each time the TC receives it, and ifthe request type is 2 the time transmission should be stopped. The default request type is 0.

Now that some typical messages and commands have been discussed, some typical responses, such as data responses, sync responses, status responses, etc. will be discussed byway of example. The Data Response (message #340) transmission is preferably issued by the TC in response to a request. It is transmitted before any updates. Included updates should not be duplicated and no subsequent updata should be lost. It can be used to determine the template ofan instrument. The template may be required so the receiving program can allocate data storage for the instrument.

The class of a local ID Is 255.

The format is:

&lt;FS&gt;340(&lt;USxApplication_specific_field&gt;) &lt;GSx&lt;Alpha_namexUSxTemplate_No&gt;(&lt;USxRTLxUSxData_Partition&gt;)

1{&lt;RSxField_IDxUSxField_value&gt;}n &lt;FS&gt;

The Verify or sync (message #318) transmission is preferably issued by a DATAFEED ONLY. It reflects a copy ofthe central data base and is synchronous with the updates.

The format is:

&lt;FS&gt;318(&lt;USxApplication_specific_field&gt;) &lt;GS»&lt;Alpha_name&gt;&lt;USxTemplate_No&gt;(&lt;USxRTL&gt;&lt;USxData_Partition&gt;)

1{&lt;RSxFieldJDxUSxField_value&gt;}n &lt;FS&gt;

GB 2 191 069 A 9

The Status Response (message #407) transmission is preferably used to communicate status to the host.

The format is:

&lt;FS&gt;407&lt;USxApplication_specific_field&gt;

&lt;GS&gt;&lt;Status&gt;

(&lt;RSxvariable&gt;) &lt;FS&gt;

Status=1=Negative for technical reasons Status=2=Negative—no such name, variable=name

Status=3=Not permissioned, variable=name

Status=4=Looking, wait. (MS type system), variable=name Status=5=Port not available

Status=6=No such filterset number, variable=filterset number Status=7=lnvalid Local Template Definition, variable=Local Template ID

Status=8=lnvalid local ID Definition, variable=Local RIC Status=10=Too many names, variable=name Status=11 =Too many filter sets, variable=filterset ID Status=12=Too many Private templates, variab!e=template no Status=13=Too many Local IDs, Variable=Local ID

Status=20=Communication accepted (can be used if a positive acknowledge scheme is required) Status=21 =Queue overflow

STATUS=22=lnvalid Host logical address, Variable=Logical address

Another type of exemplary transmission used to communicate status t the host is the Asynchronous Status Response (message #408). It is useful for broadcast devices which may encounter error conditions some time after the request is made.

The format is:

&lt;FS&gt;408(&lt;USxApplication_specific_field&gt;) &lt;GSxStatus&gt;

(&lt;RS&gt;&lt;variable&gt;) &lt;FS&gt;

Thefield Update (message #316) transmission is used to provide updates. The fields are preferably limited to those listed in the filter Set Definition.

The format is:

&lt;FS&gt;316(&lt;USxApplication_specific_field&gt;) &lt;GSxAlpha_name&gt;(&lt;USxRTLxUSxData_Partition&gt;) {&lt;RSxField_IDxUSxUpdate_Data&gt;}m &lt;FS&gt;

Other exemplary responses are correction, database add, database drop and time response. These are asfollows.

Correction (message #317) is transmitted as a consequence ofthe controller receiving a correction.

The format is:

&lt;FS&gt;316(&lt;USxApplication_specific_field&gt;) &lt;GS&gt;&lt;Alpha_name&gt;(&lt;USxRTL&gt;&lt;USxData_Partition&gt;) {&lt;RSxField_IDxUSxUpdate_Data&gt;}m &lt;FS&gt;

Datebase Add (message #301) is transmitted as a consequence ofthe controller receiving a database add. This indicates that a new name has been added to the database.

The format is:

&lt;FS&gt;301(&lt;USxApplication_specific_field&gt;) &lt;GSxAlpha_namexUSxTemplate_No&gt;(&lt;USxRTLxUSxData_Partition&gt;) {&lt;RSxField JDxUSxField_value&gt;}n &lt;FS&gt;

Database Drop (message #308) is transmitted as a consequence ofthe controller receiving a correction. This indicates that a name has been dropped from the database.

The format is:

&lt;FS&gt;301(&lt;USxApplication_specific_field&gt;) &lt;GS&gt;&lt;Alpha_name&gt;

&lt;FS&gt;

GB 2 191 069 A 10

Time Response (message #367) is the time and date message.

The format is:

&lt;FS&gt;367(&lt;US&gt;&lt;Application_specific_field&gt;) &lt;GS&gt;&lt;Julian_calendar_year&gt;

&lt;USxJulian_calendar_month&gt;

&lt;USxJulian_calendar_day&gt;

&lt;USxTwenty_four hour_Hours&gt;

&lt;USxMinutes&gt;

&lt;USxSeconds&gt;

&lt;FS&gt;

Some typical commands which may be employed byway of example, in accordance with the presently preferred method ofthe present invention in converting page to logical data are to add or drop a local ID definition, add or drop a local template definition, drop all local IDs or drop all local templates. These exemplary commands are defined as follows.

The Add Local ID Definition (message #400) command names an area of a page and relates a local template to that area. The local template will be used to find individual fields within that area.

The format is:

&lt;FS&gt;400(&lt;USxApplication_specific_field&gt;) &lt;GSxLocal_RIC&gt;

&lt;GSxPage_alpha_name&gt;

&lt;RSxLocal_template_ID&gt;

(&lt;RS&gt;&lt;Beginning_rowxUSxBeginning_coiumn&gt;

&lt;USxEnding_row&gt;&lt;USxEnding_corner_column&gt;) &lt;FS&gt;

Itshould be noted that if the beginning and ending positions are omitted they are assumed to be the entire extent ofthe page.

The Add Local Template Definitions (message #401) command defines a local template which gives the length and offset of fields within an area. It is used for extracting fields from an area of a page. The parse method denotes how the data isto be extracted from the string andthe presentation method indicates how it isto be transmitted. A local template is preferably given a negative number to distinguish from the templates employed in connection with MARKETSTREAM by way of example.

The format is:

&lt;FS&gt;401(&lt;USxApplication_specific_field&gt;) &lt;GSxLocal_template_ID&gt;

1{&lt;RSxLocal_fieldJDxLISxLengthxUSxByte_offset&gt;

(&lt;US&gt;Parse_Method&lt;USxPresentation_Method&gt;)}m &lt;FS&gt;

The Drop Local ID (message #402) command will delete a local ID.

The format is:

&lt;FS&gt;402(&lt;USxApplication_specific_field&gt;) &lt;GSxLocal_RIC&gt;

&lt;FS&gt;

The Drop Local Template (message #403) command is used to delete a local template definition.

The format is:

&lt;FS&gt;403(&lt;US&gt;&lt;Application_specific_field&gt;) &lt;GSxLocal_template_ID&gt;

&lt;FS&gt;

The Drop All Local IDs (message #404) command is used to delete all local IDs.

The format is:

&lt;FS&gt;404(&lt;USxApplication_specific_field&gt;) &lt;FS&gt;

The Drop All Local Templates (message #405) command is used to delete all local templates.

The format is:

&lt;FS&gt;405(&lt;USxAppiication_specific_field&gt;) &lt;FS&gt;

An exemplary program listing for achieving the various functions ofthe host computer described above in accordance with the presently preferred method ofthe present invention is annexed hereto as Tables A—G which may be run on an IBM PC and is in the format of PL/M-86 compiler written in C code such as availablefrom Lattice Inc.

Summarizing the presently preferred method ofthe present invention, when the transmitted trading instrument data record is in a page display format, a local receiver template is defined atthe receiving end in orderto convert the page display format to a logical data format. In defining the local receiver template, data locations in a portion ofthe page display format are defined fordefining relative positions of logical fields in the page display format for a given display row in the page display format for providing a local template defined set of displayable information record fields. Each of the defined data locations comprises

GB 2 191 069 A 11 a defined area ofthe page display format display row. Each ofthe defined areas comprises an individual displayable information record field in the received transmitted displayable page data record with the displayable page data record comprising a plurality of bytes. In such an instance, each field is defined by an offset from the beginning of the associated area andthe numberof bytes comprising thefield.

In either instance, that is whether the transmitted record is originally in a logical data format ora page display format, a desired filter set of displayable information record fields is defined atthe receiving end with the defined desired filter set comprising a plurality of record field identifiers. Each ofthe record field identifiers is uniquely associated with a different one ofthe displayable information record fields, with the defined filter set comprising a receiver defined portion ofthe plurality of available displayable information record fields. In the instance when a local receiver template is employed for data in a page display format, the desired filter set is defined in the local receiver template and is extracted from the local receiver template with the extracted filter set comprising a plurality of record field identifiers.

When the transmitted trading instrument data record is in the form of logical data, it is tagged in the received transmitted trading instrument common data stream with the desired receiver defined filter set for defining a new receiver defined local trading instrument displayable data record foreach of the tagged transmitted trading instruments with the new local trading instrument displayable data record comprising only the portion ofthe information categories corresponding to the receiver defined portion of displayable information record fields. Thus, a new user defined local trading instrument is created which provides a display of only the information desired bythe local subscriber. Moreover, this new user defined local trading instrument may be dynamically updated as the particular categories defined in this new local trading instrument are dynamically updated in the transmitted common data stream so that from the local subscriber's point of view it appears as if he is dynamically receiving his uniquely tailored local trading instruments such as stocks, bonds or other financial instruments. When the particular transmitted trading instrument data record is in a page display format, this record is tagged in the common data stream with the associated local receiver template for defining a new receiver defined local trading instrument dispiayable data record for each ofthe tagged transmitted trading instrument displayable page data records, with the extracted filter set displayable information record fields defining the new receiver defined local trading instrument displayable data record which comprises a reconstituted data record different from the transmitted trading instrument displayable page data record. This is also true for data in the logical data format wherein the extracted filter set displayable information fields comprise a reconstituted data record foreach ofthe created new local trading instrument displayable data records which reconstituted data record is different from the transmitted trading instrument data record.

By employing the method and system ofthe present invention an efficient system for dynamically creating receiver definable or locally identifiable dynamically updateable local trading instrument displayable data records atthe receiver end or local subscriber so that only the information desired bythe local subscriber is displayed on his screen as user defined local trading instruments is achieved.