JP2003529851A - Virtual standing room system - Google Patents

Abstract

  (57) [Summary] A virtual floor space system is disclosed that simulates buying and selling in a financial market, auction forum or any market where trading occurs. The virtual floor space system comprises a coder / decoder that receives data from trading sources, such as data received from central markets such as the well-known NASDAQ, CBOT, CME, NYSE, EUREX markets, exchange databases or web sites, and a coder. A graphical interface for receiving data from / decoders and displaying a plurality of buy and sell trader metaphors representing actual buy and sell traders, and a control interface coupled to the coder / decoder to place orders. And a data interface coupled to the coder / decoder for displaying, receiving, and transmitting data sent to and received from the transaction source.

Description

Detailed Description of the Invention

FIELD OF THE INVENTION The present invention is a virtual floor system. Specifically, the present invention is a virtual trading floor system that simulates real-time trading actions of real buy and sell traders in a financial market in real time to graphically represent the buy and sell traders on a display device. .

BACKGROUND OF THE INVENTION Traditionally, transactions are conducted at exchange floors or auction forums, whereby a large number of active participants simultaneously have the right to buy or sell a particular stock or commodity. Bid and offered. These traders who gather in a circle or trading pit may buy from the other traders in that trading pit at the lowest bid price and / or their trading
Compete with each other by trying to sell at the highest bid to another trader in the pit. As supply and demand forces are affected by the current relevant news and events, these traders have gathered in a common venue from the start to the end of the witness to buy and sell stocks and commodities. Some traders even buy or sell different amounts between the same or different stocks and commodities in the same or different markets. This is a method known as arbitrage.

[0003] Recently, off-site traders have been able to participate in the process of auctions by placing orders over the phone from their homes or offices by telephone to brokers.
Stock exchanges and commodity exchanges have linked auction market activities to off-site locations. The broker relays to the exchange floor to execute the order and receives confirmation of execution of the order from the exchange floor. The broker then informs the offsite trader who placed the order of the execution price and quantity.

More recently, computer systems and networks have replaced physical exchanges or trading floors, and now they are able to monitor stock and commodity price fluctuations on their own computers and to manage them offsite. It offers a live auction market for stocks and commodities currently dealing with hundreds of active participants who respond by executing orders via their own computer. The entire process is done by a computer that communicates with a server that uses an application programmer interface (API) to recognize offsite traders without a broker. The data is communicated to offsite traders, which can be displayed on a computer monitor viewed by participating offsite traders. Off-site traders can observe rising or falling stock prices or commodity prices. The computer monitor can display the price live or with a 10 or 15 minute delay. Chart analysis services are commonly used to assist the decision-making process of off-site traders. Off-site traders are provided with current bids and offers for a particular stock or instrument, highest and lowest witnesses, and other information. The closing price on the previous day is often displayed. Off-site traders actively participate in quotes from virtually anywhere via a remote computer or terminal by observing various stock and commodity prices displayed on computer monitors in formats such as spreadsheets. be able to.

With the aforementioned advances in trading technology and the corresponding widespread use of off-site trading, it would be useful for traders to have trading systems that emulate the actions of a trading floor. Graphical representation of a real or fictional environment on a two-dimensional monitor, such as a computer monitor, is one way to simulate an action. Virtual reality furthers such simulations. Virtual reality can be experienced visually in three dimensions: width, height, and depth, plus a visually complete real-time motion interactive experience with voice and possibly concrete and perceptible feedback. It is a simulation of a real or fictional environment that can be provided. A simple form of virtual reality is that the contents of an image can be explored bidirectionally on a personal computer, usually by manipulating a key or mouse so that it moves in one direction or zooms in and out. It is a possible 3D image. The "realism" increases as the image gets larger and the interactive controls become more complex. More sophisticated tasks require techniques such as a wraparound display screen, a real room augmented by a wearable computer, and a haptic joystick to perceive the displayed image. Virtual reality can be used for simulating real-world environments such as building or aircraft interiors, often accompanied by practice or educational purposes, or for developing fictional environments, typically for gaming or educational adventures. Virtual reality simulation can include a graphical metaphor that represents a real person in a cyberspace system. These graphical metaphors are often referred to as "avatars." Upon entering such a system, an offsite trader can be defined by or can select from multiple avatars. Smart 3D avatars even change shape depending on what they are doing (eg walking, sitting, etc.).

Virtual reality generators for use with financial information are known. Mar
In US Patent Application No. 5,774,878 by shall, asset managers and securities analysts are asked to provide a complex amount of otherwise unmanageable amounts of complex information, specifically common stock,
Virtual reality techniques have been disclosed that allow easy viewing of financial information about financial markets, such as information about commodities, currencies, derivatives and their related markets. However, the virtual reality world created by Marshall does not map real-world objects. Conversely, the information displayed in the virtual reality world created by Marshall is abstract information about the real world that does not have physical objects equivalent to it.

Automated securities trading systems are also known. U.S. Patent Application No. 4,674,044 to Kalmus et al. Discloses a specific, exemplary data processing-based device that creates an automated trading market for one or more securities. There is. The system retrieves the best earned bid and ask prices from a remote database that targets institutions or other groups that make one market for the relevant securities. Data is supplied to the system that characterizes the sell / buy orders for each security that the customer is requesting. Orders are qualified for execution by comparing their specific content fields with certain stored parameters. The stored parameters may include the effective bid and ask prices of the current market, the appropriate number of shares available for the customer to buy or sell, and the maximum acceptable single order size. Once qualified, the order is executed and the corresponding stored parameters are updated. This system provides market makers with inventory management and profit accounting. Finally, the system reports the details of the executed trade to the customer and the National Stock Price Agency. When there is a change in the limit price for a security, the system updates all relevant order eligibility parameters. Ka
lmus et al. do not disclose a system that simulates the trader's selling and buying actions in real time.

Accordingly, there is a need in the art for a real-time virtual trading floor system that emulates the actions of traders buying and selling in the financial markets.
For apprentice traders, a system that emulates the action of a live trading floor or auction forum provides more knowledge about the trading system, allowing these traders to spread to view their financial information. To be able to compete more efficiently than when you have to rely on seats. For veteran traders, the off-site system that emulates a trading floor can recall the excitement and enthusiasm that they once experienced.

In the field of off-site trading, in order to make it easier to use and make the off-site trader more efficient, the off-site trader can experience the same visual and acoustic excitement that a real trader will experience. There is a particular need for a system to There is also a need for a virtual trading system that creates metaphors or expressions that mimic the actions of the open auction market in virtual reality systems that require computer screens, projection screens or virtual reality goggles or virtual reality headsets. There is.

SUMMARY OF THE INVENTION The present invention is a virtual trading floor based on the open auction trading auction process currently traded in the pits on major US commodity and stock option exchanges. It is an object of the present invention to provide a front end virtual trading floor system that is interconnected with existing electronic exchanges. It is a further object of the invention to provide a system in which traders can be linked to exchanges from anywhere in the world and such traders are represented graphically as virtual pit participants.

It is a further object of the present invention to provide a virtual trading system in which individual traders can participate with live real-time supply. In such a system, an offsite trader using a personal computer system can view the virtual trading floor on a computer monitor. The display device may be a 2D or 3D display device that may or may not require a special viewing device. The virtual trading floor contains a metaphor of the actual sell and buy traders trading on the current exchange. Virtual trading floors that use metaphors are open auctions that are traded in the pit
Mimic the process. By using virtual trading floors as a guide, individual traders place orders and interact with one or more markets through an integrated order entry system that forwards the orders to trading floors or trading sources. be able to. The order entry screen allows you to bid, offer,
View typical data used by traders, including size and final price information.

It is a further object of the present invention to provide a virtual reality trading system. In one embodiment, an off-site trader trades as a participant in a virtual pit, as opposed to a virtual trading floor where the trader views a 2D or 3D display. In virtual reality trading systems, interfaces can be used to generate virtual reality simulations that include full-motion graphical metaphors representing real people in cyberspace systems. Such an interface can generate a three-dimensional metaphor in which movements, actions, sizes and shapes are responsive and synchronized to actual trader movements. The virtual reality trading system is a 3D generated virtual reality image, virtual reality headset or goggles, virtual reality glove, or wraparound display screen, a real room augmented by a wearable computer, and the user feels the displayed image. It is contemplated that it can be implemented by more sophisticated techniques such as a haptic joystick device, or any other virtual reality system or device.

It is also an object of the present invention to provide a trading game that uses a virtual trading or virtual reality trading system. In a trading game implementation, one and / or more players connected locally or remotely through a network, including a packet-switched network known as the Internet, can use a computer-generated metaphor, or Each player may bid or trade with other players if represented by a metaphor.

It is a further object of the present invention to provide a training simulator that uses a virtual trading or virtual reality trading system. In an embodiment of a training simulator, one or more trainees connected locally or remotely via a network may be a computer-generated metaphor, or where each trainee is represented by a metaphor. You can practice using other trainees.

To achieve these and other objectives, in one aspect, the present invention provides a coder / decoder for transmitting and receiving data, and some of the data transmitted from the coder / decoder for actual purchase traders. And a graphical interface coupled to the coder / decoder that receives and displays as a metaphor for multiple buy and sell traders representing the sell trader, and to initiate an order for the data sent and received by the coder / decoder. A control interface coupled to the coder / decoder and coupled to the coder / decoder for displaying the data in a non-graphical, human-readable format and transmitting data to and from the coder / decoder. Including a data interface It

In another aspect, the invention features a graphical representation of a source for generating data and a plurality of buy and sell trader metaphors representing the actual buy and sell traders that receive the data from the source. -Includes interface and.

In another aspect, the invention features a coder / decoder for receiving data and a plurality of buy and sell trader metaphors for receiving the data from the coder / decoder and representing actual buy and sell traders. And a graphical interface coupled to the coder / decoder for displaying.

In another aspect, the invention features a coder / decoder for receiving data, a control interface coupled to the coder / decoder, a data interface coupled to the coder / decoder, and the coder. A graphical interface coupled to the coder / decoder for receiving the data from the decoder / decoder and displaying a plurality of buy and sell trader metaphors representing the actual buy and sell traders; At least one movement of the buy and sell metaphors includes a graphical interface in response to and synchronized with the movement of one trader.

In another aspect, the invention features a trading simulator including a source for generating data, a coder / decoder coupled to the source, and a control interface coupled to the coder / decoder. A data interface coupled to the coder / decoder and a graphical interface coupled to the coder / decoder to display multiple buy and sell trader metaphors representing actual buy and sell traders. There
At least one movement of the buy and sell metaphors includes a graphical interface that is responsive and synchronized to the movement of one trader.

In another aspect, the invention comprises the steps of generating data, receiving and interpreting the data, and in the form of a plurality of buy and sell trader metaphors representing buy and sell traders. And a method of trading using a virtual trading simulator including displaying data.

Detailed Description of the Preferred Embodiments The present invention is illustrated by way of example, and not by way of limitation, in the figures of the accompanying drawings in which like elements are designated by like reference numerals.

A virtual trading floor method and system is described. In the following description, for the purposes of explanation, numerous specific details are set forth in order to provide a thorough understanding of the present invention. However, it will be apparent to one skilled in the art that the present invention may be practiced without these specific details. In other instances, well-known structures and devices are shown in block diagram form in order to avoid unnecessarily obscuring the present invention.

Virtual Floor System 100 Referring to FIG. 1, a virtual floor system 100 is shown coupled to a transaction source 110 that produces financial data. In one embodiment, the virtual floor system 100 includes a coder / decoder 120, a control interface 130, a data
It includes an interface 140 and a graphical or avatar interface 150. Coder / decoder 120 is coupled to transaction source 110 by line 160. Avatar interface 150 is line 17
0 to coder / decoder 120. Control interface 1
30 and data interface 140 are also coupled to coder / decoder 120 by line 170. In one embodiment, the computer system 180 used by the off-site trader includes an avatar interface 150, a control interface 130 and a data interface 140. For the present invention, a trader and therefore a computer system 1
It is not important that 80 is offsite to trading source 110.
For example, if the virtual trading floor system 100 is used in gaming and practice environments discussed further herein, the trader may be located at the trading source 110 or where financial data is generated. Also, in one embodiment, the transaction source 110 is a well-known NASDAQ, CBOT, CME, NYSE, EUREX.
Generate real-time data received from a central market, such as a market, any other primary or secondary market, any private auction network or auction website, or any forum where buys and sells are made. Computer system or computer network. Line 1
60 and line 170 carry one or more types of transmission media, including coaxial cables, copper wire and fiber optics using electrical, electromagnetic, optical or any type of media, as well as analog and digital data streams. And a signal cable for Wireless links can also be implemented.

As shown in FIG. 1, the control interface 130, the data interface 140, and the avatar interface 150 are coupled via a line 170, and can freely transfer data and commands to each other as necessary. it can. Generally, avatar interface 150 serves as an interface for viewing financial data transmitted from trading source 110 in a graphical and / or audio format. The control interface 130 acts as an interface that allows traders to initiate orders and information about orders. The data interface 140 serves as an interface for displaying quote boards, as is generally known in the art, and for sending orders and information about orders generated and initiated by the control interface 130 to the trading source 110. The data interface 140 also receives confirmation of the order from the trading source 110 along with other data. The control interface 130, the avatar interface 150, and the data interface 140 can each include software and / or hardware. In one embodiment, the hardware may be in the form of a computer system with an associated display device shown in more detail in FIG. The control interface 130, the avatar interface 150, and the data interface 140 may be configured by a single interface, or any two of the above interfaces may be combined to configure a single interface.

The coder / decoder 120 of FIG. 1 encodes and decodes various types of data, particularly data that would normally use an excessive amount of disk space as produced by the transaction source 110. It is the kind to do. The coder / decoder 120 can be used with streaming data or file-based content. The decoder converts the encoded data, such as compressed real-time data that can be received from the transaction source 110, into its original form or any other suitable form for use.

The coder / decoder 120 may also include multiplexing and demultiplexing circuitry. In one embodiment, transaction sources 1 received from multiple transaction sources or exchanges.
Multiplexing circuitry can be used to combine 10 pieces of information. Similarly, in one embodiment, the demultiplexer circuitry separates the multiplexed signal from the transaction source 110. This signal is then processed by the coder / decoder 120 and the avatar interface 150, data
It can be sent to the interface 140 and the control interface 130.

Coder / decoder 120 may also include a modem capable of communicating data over a conventional telephone line to a transaction source 110 or a remote device such as computer system 180. A modem is but one example of a device suitable for use as a communication means. Alternatively, the communication means of coder / decoder 120 may be an infrared communication device, an Ethernet interface, an ISDN terminal adapter, or other telecommunications device. The particular communication method, protocol or mode used by coder / decoder 120 is not critical. Transaction source 110, avatar interface 150, data interface 14
The same applies to communication with the 0 and the control interface 130.
Similarly, the coder / decoder 120, the avatar interface 150, the data interface 140 and the control interface 130 are shown as stand-alone devices, but these are the ones residing at the storage location of the transaction source 110 or at the computer system 180. Alternatively, it may be a part of a plurality of integrated circuits.

In one embodiment, coder / decoder 120 receives a digital data stream containing separate packets of information from transaction source 110. This packet may include bids, offers and confirmed transaction results in addition to other financial data provided by the transaction source 120. Alternatively, the packet can include data from an auction forum where the data can be accessed from a website or private network. In such cases,
The coder / decoder 120 may include software such as a web browsing application to capture the required data. Predetermined data
By having a software algorithm that is pattern and format sensitive, the coder / decoder 120 decodes and processes the data received from the transaction source 110 and sends the data to the avatar interface 150.
The coder / decoder 120 sends data packets to the computer system 180 in audio, video, graphical, textual and / or numerical form. In one embodiment, coder / decoder 120 is a single unit device. In alternative embodiments, coder / decoder 120 may include a separate coder and decoder. Similarly, software elements of coder / decoder 120 may be implemented in the form of firmware or hardwired circuitry that performs the functions described herein. Therefore, no software implementation is required in this configuration. For example, the decryption function can be accomplished using a decoder card.

In one embodiment, real-time data received from the stock market or the commodity exchange market is interfaced to the virtual trading floor system 100 via the coder / decoder 120. For purposes of limitation, an item is herein any product that can be bought and sold by the auction process. Similarly, the terms financial data, data, stocks, commodities and securities, and each of their plural forms, are defined to include each other. Raw real-time encoded financial data from the transaction source 110, including bids, offers and resulting confirmed transactions, is transmitted to the computer system 180 via the coder / decoder 120. The information from the transaction source 110 is first sent to a coder / decoder 120 which decodes the received data. The received encoded data is then interpreted, processed and transmitted to computer system 180. Data from transaction source 110 is displayed on computer system 180 in graphical and non-graphical formats. Based on the displayed data, the trader can use the computer system 180 to initiate, trade, inquire, and request.

The coder / decoder 120 decodes and demultiplexes the data stream received from the transaction source 110 and interprets and processes the data on the various channels of the data stream. Software and / or hardware at coder / decoder 120 uses predetermined algorithms that allow coder / decoder 120 to process real-time data feeds from trading sources 110. In an alternative embodiment, the coder / decoder 120 is a device that includes a web browser or similar software that retrieves financial data or other data, such as auction site data, from a web site or other network. Good.

The bid and offer information from the trader, and the confirmed trade information sent from the trade source 110 and detected at the coder / decoder 120, together with other data according to a pre-defined algorithm, together with the avatar interface 150.
Sent to. The avatar interface 150 is used by the actual buying and selling traders regardless of whether the buying or selling traders are operating in a realistic environment such as a stock market or a commodity trading market, or a game or training environment. It can be any interface capable of generating a real-time graphical representation of. In one embodiment, the avatar
The interface 150 can generate a two-dimensional or three-dimensional display that mimics an open market auction trade auction on a computer monitor, television, projection screen, virtual reality display device or any other type of display device. . In one embodiment, the coder / decoder algorithm interprets and processes the data from the trading source 110 in a manner such that the avatar interface 150 can generate a metaphor display of persons representing actual buy and sell traders. To send.

FIG. 2 is a metaphor graphic used by the avatar interface 150 to represent the buy and sell traders of the virtual trading floor system 100. Buy trader metaphor 210 and sell trader metaphor 220 represent participants in a real or fictional environment, such as in a financial market, gaming or training environment. Buying Trader Metaphor 210
Although the sell trader metaphor 200 is shown as a human figure, any type of metaphor representing the actual buy and sell traders can be used.

The buy trader metaphor 210 and sell trader metaphor 220 generated by the avatar interface 150 are represented as figures in a trading jacket. In one embodiment, the buy trader metaphor 210 and the sell trader metaphor 220 can be represented on a monitor in two or three dimensions or in a virtual reality setting. The selling trader's metaphor 220 is represented with the palm raised outward with the palm facing away from the body. The buying trader's metaphor 210 is shown showing the intention to buy in a fried state with the hand facing inward toward the body. Thus, the display device of the computer system 180 simulates an open auction trading pit with the metaphor of the trader having the best bid and offer for a particular stock or instrument in the foreground. The purpose of this graphic is to provide the most realistic view of a real auction or open auction market, similar to the real exchanges or auctions currently in use. A trader can view a flow of prompts of the same data for a computer screen displayed without a graphical display from the computer system 180, and by using the computer system 180, the trader 180 is simulated live. You can also be an actual participant in the auction market process.

In one embodiment, the buy trader metaphor 210 and sell trader metaphor 220 are life-like metaphors for mimicking the appearance of a trader on an exchange floor participating in an open auction market. It is represented on a display device of computer system 180. In one embodiment, the buy trader's metaphor 210 is represented wearing a green trading jacket. The actual trader with the best bid is represented by the front row buy trader metaphor 230. In this way, a trader using computer system 180 can immediately recognize which trader has the best bid. Immediately behind the buy trader metaphor 230 is the buy trader metaphor 250, which represents the second best bid. Further, the buy trader metaphor 250 is followed by a buy trader metaphor 260 representing the third best bid. The other trader's metaphor is shown directly behind the best bid trader, in this case the buy trader's metaphor 230, and behind the buy trader's metaphor 230 is the depth of the bid in this particular market. It spreads in a fan shape in descending order.

Similarly, standing next to the buy trader's metaphor 230 representing the best bid is a sell trader metaphor 240 representing the actual trader's best offer for this particular market. The best offer is then represented above in a fan-like fashion just behind the sell trader's metaphor 240, in a manner similar to a bid trader. In one embodiment, all of the offering or selling traders are represented wearing a red trading jacket. The Metaphor 270 of Selling Traders Representing the Next Best Offer
Other trader offers, starting with, appear directly behind the sell trader metaphor 240 and fan out in ascending order behind the sell trader 240, which represents the depth of the offer for this particular market. .

Accordingly, the buy trader and sell trader viewed on the display device by the trader of the computer system 180 may have one fan-shaped and sell trader metaphor 2 defined by the buy trader metaphor 210.
Represented by two side-by-side fans, another fan defined by 20, allowing traders to easily determine and bid on best bids and offers for a particular market. . In addition, traders can easily make decisions regarding the depth of trading markets and easily compare trading markets. Similarly, traders can easily determine and compare offers with other bids on the market by means of traders layered in descending and ascending order, respectively, behind the best bid and best offer trader metaphors. be able to.

The price and quantity associated with each actual trader may be displayed on the metaphor's respective chest 290. These prices and quantities represent the price and the number of contracts offered or offered at the particular price. This price and quantity is currently available from exchange or transaction source 110 from transaction source 110 supplying data to computer system 180 via coder / decoder 120. Prices and quantities may also be verbalized by a trader's metaphor at the trader's discretion. In one embodiment, responding to a trader moving on the display device of computer system 180, and ultimately on the metaphor of the desired trader, by simply touching the screen with a cursor, or in a touch screen implementation. A trader's metaphor can speak price and quantity. There is a market dialogue and the actual trade between traders,
When prices fluctuate, the first trader's metaphor may be gesturing and wording to the trader's metaphor that counters any action taken by the trader, as it would be in a real floor exchange. it can.

In addition, a trader of computer system 180 can determine a desired level of visual and audio activity via avatar interface 150. Avatar interface 150 provides a multimedia representation of real-time data interpreted and processed by coder / decoder 120. The associated audio data provided by the coder / decoder 120 may be increased by the avatar interface 150 as market activity increases.
, Or a trader of computer system 180 can choose to have the audio at a stable and constant level, or to have no audio at all. Audio quality can range from basic single channel audio to high fidelity stereo. But the audio quality is not important. Avatar interface 150 allows computer system 180 traders to see more traders on the monitor as their activity increases on either side of the market, including but not limited to trading volume and volatility. Allows you to provide a metaphor. Or when market activity declines, noise
The level will drop and fewer traders will appear on the screen. Traders of computer system 180 may select audio options, visual options, or both to symbolize current market activity.

FIG. 3 is a diagram illustrating a larger number of buying trader metaphors than selling trader metaphors that will result in a bullish environment for a particular stock or commodity.
During such a bullish period, the display device of computer system 180 will display a large number of buying trader metaphors 300 in green jackets as the trading volume increases. This will give a graphical representation of a significant increase in trading volume and volatility as the price increases. On the contrary, the number of metaphors 310 of the sales trader wearing the red jacket is shown to be small, and the depth of sale in the market is shown to be much smaller than the depth of purchase.

FIG. 4 is a diagram illustrating a virtual trading floor 400, a quote board 420, an order entry entry bar 432 and graphs 492-496 as viewed on a single display device 410 of a computer system 180. . In one embodiment,
The virtual trading floor 400 is created by the avatar interface 150, the quote boards and graphs are created by the data interface 140, and the order entry entry bar 432 is created by the control interface 130. Of course, the avatar interface 150, the control interface 130 and the data interface 140 are each one of the virtual trading floor 400, the quote board 420, the order entry entry bar 432 and the graphs 492-406.
It can be modified to produce one or more. To view current and historical price information for both active and other markets simulated in virtual trading floor 400, a trader of computer system 180 may see quote board 420 displayed in virtual trading floor 400. You can also choose to refer to. The display device 410 of the computer system 180 may, at the trader's discretion, provide information for multiple markets as shown in the respective columns for the markets 422, 424, and 426. Each market 422
~ 426 are the latest three transaction prices 430, the current offer 440, in the order of execution.
It may include a current bid 450, a previous day's ratio 460, an open price 470, a previous day's close price 480 and a daily price range 490.

The order entry entry bar 432 can also be displayed on the display device 410 where traders can place orders. In one embodiment, order entry input bar 432 is generated by control interface 130. The order entry entry bar 432 provides a number of options that a trader can use to enter the actual market, including but not limited to: That is, all are well-known and common choices that current traders use in some form or another of existing stock and commodity trading systems: current position 461, buy / sell 462, inter / intra commodities. Spread of
Setup 463, Market Order 464, Limit Order 465, Cancel / Replace Order 466, Buy / Spread 467, Setup Alert 468, and Clearing 469. For example, by using the buy / sell 462 option, a trader can enter an instruction to sell or buy at a specified price. As yet another example, by using a market order 464 option, a trader can enter an instruction to buy or sell at an available market price.
The quantity to be traded may also be indicated by the trader. Trader
The cancel / replace order 466 option can be used to cancel all orders, or the clearing option 469 can be used to clear all open positions.

Graphs 492, 494 and 496 can reflect trading volume (y-axis) versus time (x-axis) in respective markets 422-426 and can optionally be viewed. The type of graph provided is not important and the market information can be presented to the trader in any useful format. In an alternative embodiment, individual display device monitors may be used by computer system 180 to view simulated virtual trading floor 400, quote boards 410 and / or graphs 492-496.

In one embodiment, the specific market column of the quote board 420 is selected to indicate that the corresponding market, when selected by the trader, is the market being simulated at the virtual trading floor 400. It can be highlighted in one predetermined color. The column may also be highlighted with a second predetermined color to indicate that the corresponding market is the active market for which orders may be placed by 432 in the order entry entry bar.

As shown in FIG. 4, the market 422 column can be highlighted in a predetermined color 421, such as yellow, to indicate that the market 422 is being simulated in the virtual trading floor 400. . The market 422 is also the active market where orders can be placed by the order entry entry bar 432, if the field for the market 422 is the only field highlighted.

However, in FIG. 4, the market 426 column has a predetermined number, such as orange, to optionally indicate that the corresponding market 426 is an active market that can be ordered by the order entry entry bar 432. The color 425 is also highlighted.
In this case, the market 422 remains the simulated market on the virtual trading floor 400.

Referring to FIG. 5, in one embodiment, a trader of computer system 180 can view multiple markets on a single display device 520 at the same time. These markets are represented by virtual trading floors 500 and 510. By selecting the desired markets, virtual trading floors for those markets are displayed in parallel as separate images on the trader's display device. This allows a trader to easily view and trade the difference within a selected stock or product, or the difference between different stocks or products.

FIG. 6 is a diagram illustrating a display device 620 of computer system 180 according to an alternative embodiment. The display device 620 is a single monitor 610.
Of the order entry input screen 600, the market board 694 shown on the second monitor 615, and the virtual trading floor 696. In this embodiment, the order entry input screen 600 is displayed and generated by the control interface 130.
Further in this embodiment, the virtual trading floor 694 is the avatar interface 15
The market board 694 is generated by the data interface 140. The order entry entry screen 600 has the same entries as those described in the order entry entry bar 432 of FIG. 4, including, but not limited to, current position 630, buy / sell 640, inter / intracommodity spread.・ Setup 650, Market order 660, Limit order 670, Cancel /
Replacement Order 680, Buy / Spread 690, Setup Alert 692,
And clearing 694 options. Market board 694 and virtual floor 69
6 is also similar to the market board 420 and virtual trading floor 400 of FIG.

Using the order entry entry screen 600, a trader of the computer system 180 can activate certain options for performing trading functions within the same instrument or stock or between different instruments or stocks. . The trader needs to activate the market in which the trader currently wants to execute trades there, and that market is displayed and highlighted on the quote board 694,
Simulated on the virtual floor 696. All multiple markets can be viewed on the Market Board 694 and Virtual Floor 696, but only certain selected markets or options are active so that traders can interact and place orders. .

The commands brought by the order entry entry screen 600 options are directed from the data interface 140 to the coder / decoder 120 and are associated with the active market and the selected commodity, stock or option of that market. The order entry entry screen 600 option can be selected in a number of different ways. In one embodiment, the options scroll up / down options.
A selection can be made down, for example by typing the desired price and quantity to be traded for a particular security. Order direction, ie
You can also enter whether to buy or sell. In alternative embodiments, these options include selection by touching the display device of the order entry entry screen 600 or by, but not limited to, a mouse, keyboard, virtual reality glove or mitt, voice activation or control console. Can also be selected by other means. When an order is placed, the trader's instructions are immediately sent to the central market by the data interface 140 to the trading source 110 via the coder / decoder. A verification response is sent to confirm that the order has been received.

With reference to FIGS. 6 and 7, in one embodiment, the confirmed orders are then logged on to the order entry entry screen 600 via the data interface 140 and incorporated into the appropriate columns of the current position screen 700. Current position screen 7
00 can be accessed from the Current Position 630 option of the order entry entry screen 600. Current position screen 700 includes, but is not limited to, entries for current bid 710, current offer 720, current position 730, trading activity 740 and balance 750. A trader of computer system 180 may scroll the current position data or other data received or stored by data interface 140 on order entry entry screen 600, eg, to the requested data or voice activated. Or can be invoked by selecting with a keyboard, touch screen, mouse or other method. Such a request will cause the data to be displayed on the display device of monitor 600, and the trader on the display device can be dragged to the desired location. Alternatively, the selected data may be part of a list on the display device showing all of the commands for the data that the trader is requesting. Current positions 730, or current bids and / or offers 710 and 720, contracts bought 760 and contracts sold 770,
These commands can be selected to display information about the number of outstanding contracts 780 of buys or sells outstanding and net positions 790, as well as their current profit and loss status. At the request of the trader, the total trading activity up to the present day can be displayed in the unit of 792 for the day, 794 for the week, 796 for the month or 798 for the year. The financial status of a particular transaction can also be displayed in historical status to date, or in progress on a daily, weekly, monthly or yearly basis.

In an alternative embodiment, the virtual floor system 100 may be extended to a virtual reality floor system. The virtual reality floor system architecture is a virtual reality interface that requires the avatar interface 150 to use or wear goggles, virtual reality headsets or other virtual reality devices from the coder / decoder 120. Is similar to the virtual floor system shown in FIG. 1 except that the data supply of the virtual machine needs to be consistent with the virtual reality interface. The virtual reality trading system includes a virtual reality image generated by 3D, a virtual reality headset or goggles, a virtual reality glove, or a wraparound display screen, a real room augmented by a wearable computer, and a user experience the displayed image. It is contemplated that it can be implemented by more sophisticated approaches such as a haptic joystick device that can be, or any other virtual reality system or device.

FIG. 8 illustrates a display on a display device referenced by a participant 810 of a virtual reality trading floor system according to an embodiment of the present invention. Referring to FIG. 8, in the virtual reality floor system, a participant 810 operates and operates on the virtual reality floor 800. Participant 810 represents a trader of computer system 180. In the virtual reality floor system, the avatar interface 150 creates a full-motion graphic metaphor that represents a real person in a cyberspace system. In the virtual reality standroom embodiment, the avatar interface 1
The 50 can generate a three-dimensional metaphor in which movements, actions, sizes and shapes are synchronized in response to actual trader movements.

In the virtual reality trading floor system, a participant 810 looks at himself on the virtual reality trading floor 800 and a metaphor 820 of a buying trader who bids or offers for the same product or stock. Face the opposing trader represented by the metaphor 830 of the sell trader. The same bid and best offer display formats may be incorporated, with the best bit and best offer metaphors on top, as used in the virtual reality trading floor system 100. Alternatively, randomly selected bids and offers are subject to participant 810's obligation to find the best bids and offers in the crowd, as in a live auction. Buyer Metaphor 820 and Sell Trader Metaphor 830
Can be represented by When the price changes and the best bids and offers are represented by other competing traders' metaphors, the competing trader's metaphor 820 and selling trader's metaphor 830 are "popped up" from the crowd, thereby competing traders. You can highlight the best bids and offers in between. If the participant 810 is the best bid or offer, the participant 810 will see the other highlighted buy trader metaphor 820 and sell trader metaphor 830 in the same manner as the participant 810 sees. Is highlighted against other competing traders in the crowd.

Through virtual reality hardware, participant 810 can enter a trading floor and interact with a counter trader in the market. The display device composed of the virtual reality stand 800 is as simple as a monitor, but a virtual reality viewer for creating a full-scale virtual reality environment in which participants are placed in the virtual reality stand 800,
Or it may be as complex as a real room augmented by a wearable computer. In the virtual reality floor system, the order is a control interface 1
Data interface 1 starting from 30 and issued by, but not limited to, gesturing and voice and / or keyboard, keypad or touchpad.
Confirmed via 40. The virtual reality or cyberspace format of the quote board 840, the order entry entry screen 850, the current position screen 860 and / or the graph 870 can include a portion of the display of the virtual reality trading floor 800 to facilitate the participants 810. Can be viewed and accessed. A trade matching algorithm may be incorporated based on a prorated or FIFO trade matching scheme. Each trader browses the first person's market with other traders that are placed in opposition to the trading crowd.

As the market volume increases, each of the traders in the crowd, shown as buy trader metaphor 820 and sell trader metaphor 830, can be assigned to represent multiple traders. For example, if only 100 traders can be visually matched within virtual reality floor 800, but if 150 traders want to trade, each trader's metaphor will be the action of 15 real traders. Can be represented. If 500 traders want to trade in a particular market, each of the 100 trader metaphors can represent 5 traders, and so on. Thus, the virtual reality trading floor 800 allows an unlimited number of participants to trade with each other to determine the best market price for a particular stock, commodity, etc. In one embodiment, the virtual reality trading floor system 100 provides options to participants who are not part of the virtual reality trading floor system so that they can interact in a simulated marketplace. Can interface with virtual reality trading floor systems.

Further, both the virtual floor 100 and the virtual reality floor system are operated by one or more players physically located at the same location or remotely via a network such as the Internet. It can also be implemented as a game that is played. When played over a network, each individual may need to be a paying subscriber. Market data is randomly generated for different futures markets, allowing players to trade in various simulated trading floors. A player increases or loses his / her investment depending on the market trend and the player's market position. The game may have options to increase activity and turnover. There may be any number of input devices used to initiate a transaction. These can include keyboards, mice, or virtual reality gloves that allow the movement of the player to be mimicked on a display device to other traders. The display device can be as simple as a monitor or as complex as a virtual reality viewer that places participants in a virtual trading floor. The visual color change can highlight the competing trader with the best bid or offer, or can light up the player's badge to help confirm the action of the trade. An on-screen wallboard or simulated ticker can provide visual information about the market.
Another indication of a market auction may provide loud audio / bids and offers that increase or decrease volume to reflect market activity. Traders may have the ability to control the pace and trading volume of the market, from the slow-growing thin market to the fast-paced market, with loud and visual cues directed at the participants. Games can also be customized by product and by trading practices of a particular exchange. The virtual floor or virtual reality floor system can also be used as a practice simulator.

General Purpose Computer Hardware Overview FIG. 9 shows a transaction source 110, a coder / decoder 120, an avatar interface 150, a data interface 140 or a control interface 1.
Computer system 9 capable of implementing any one or more of 30
It is a block diagram showing 00. The computer system 900 includes a bus 902.
Or other communication mechanism for communicating information, and bus 9 for processing information
02 and a processor 904 coupled thereto. Computer system 90
0 also includes main memory 906, such as random access memory (RAM) or other dynamic storage, coupled to bus 902 for storing information and instructions to be executed by processor 904. Be done. Main memory 906 may also be used to store temporary numeric variables or other intermediate information during execution of instructions to be executed by processor 904. Computer system 900 further includes read only memory (ROM) 908 or other static storage coupled to bus 902 for storing static information and instructions for processor 904. A storage device 910, such as a magnetic disk or optical disk, is provided and coupled to the bus 902 for storing information and instructions.

Computer system 900 includes display device 91 via bus 902.
Can be bound to 2. Display devices include, but are not limited to, one or more cathode ray tube (CRT) monitors or touch screen devices, projection screens or projection devices, display devices that generate virtual reality images, wraparound display screens, 3D or virtual reality. It can consist of a headset or goggles, or a physical room augmented by a wearable computer to create a full-fledged virtual reality environment. Input device 914 is coupled to bus 902 for communicating information and command selections to processor 904, including alphanumeric and other keys. Another type of user input device is a cursor control, such as a mouse, trackball, or cursor direction key, for communicating directional information and command selections to the processor 904 and for controlling cursor movement on the display device 912. Means 916. This input device typically has two degrees of freedom with two axes, a first axis (e.g. x) and a second axis (e.g. y) that allows the device to specify a position in a plane.

The invention is related to the use of computer system 900 for virtual trading floor applications. According to one embodiment of the invention, coder / decoder 120 and control interface 130, data interface 140, and avatar interface 150 may be used by one or more computer systems, such as computer system 900, in main memory 906. By performing one or more sequences of one or more instructions contained in. Such instructions may be stored on another computer-readable medium, such as storage device 910.
It can be read into the memory 906. Execution of the sequences of instructions contained in main memory 906 causes processor 904 to perform the steps described herein. In alternative embodiments, hard-wired circuitry may be used in place of or in combination with software instructions to implement the invention. Thus, embodiments of the present invention are not limited to any particular hardware circuitry and software. For example, according to another embodiment,
The coder / decoder 120 and the control interface 130, data interface 140 and avatar interface 150 can be implemented using one or more embedded dedicated computing devices.

The term “computer-readable medium” as used herein refers to any medium that participates in providing instructions to processor 904 for execution. Such a medium may have many forms, including, but not limited to, non-volatile media, volatile media, and transmission media. Non-volatile media includes, for example, optical disks or magnetic disks, such as storage device 910. Volatile media includes dynamic memory, such as main memory 906. Transmission media includes coaxial cables, copper wire and fiber optics, including the wires that comprise bus 902. Transmission media can also take the form of acoustic or light waves, such as those generated during radio wave and infrared data communications.

Common forms of computer readable media are, for example, floppy disks, flexible disks, hard disks, magnetic tape, or any other magnetic media, CD-ROM, any other optical media, Punched card, paper tape, any other physical medium with a pattern of holes, RAM, PROM and E
It includes a PROM, FLASH-EPROM, any other memory chip or cartridge, a carrier wave described below, or any other computer-readable medium.

Various forms of computer readable media may be used to carry one or more sequences of one or more instructions to processor 904 for execution. For example, the instructions may first be carried on a magnetic disk of a remote computer. The remote computer can load the instructions into its dynamic memory and send the instructions over a telephone line using a modem. A modem local to computer system 900 can receive the data on the telephone line and use an infra-red transmitter to convert the data to an infra-red signal. The infrared decoder can receive the data carried in the infrared signal format, and appropriate circuitry can place this data on bus 902. Bus 90
2 carries the data to main memory 906, from which processor 904 fetches and executes the instructions. The instructions received by main memory 906 may optionally be stored on storage device 910 either before or after execution by processor 904.

Computer system 900 can also include a communication interface 918 coupled to bus 902. Communication interface 918 provides bidirectional data communication coupled to network link 920, which is connected to local network 922. For example, communication interface 918 may be an integrated digital network (ISDN) card or modem to provide a data communication connection to a corresponding type telephone line. As another example, the communication interface 918 may be a local area network (LAN) card that provides a data communication connection to a compatible LAN. Wireless links can also be implemented. In any such implementation, communication interface 918 sends and receives electronic, electromagnetic or optical signals that carry digital data streams representing various types of information.

Network link 920 typically provides data communication through one or more networks to other data devices. For example, network link 92
0 may provide a connection via a local network 922 to a data device operated by a host computer 924 or an Internet Service Provider (ISP) 926. The ISP 926 provides data communication services via a worldwide packet data communication network now commonly referred to as the "Internet" 928. Local network 922 and Internet 928 both use electronic, electromagnetic or optical signals that carry digital data streams. Signals through various networks,
A signal over communication link 918, which carries digital data to and from computer system 900 on network link 920, is an example of a carrier wave that carries information.

Computer system 900 may be programmed through one or more networks, network link 920 and communication interface 918.
You can send messages and receive data, including code. In the Internet example, server 930 may send the requested code for an application program via Internet 928, ISP 926, local network 922 and communication interface 918. According to the invention, one or more such downloaded applications are
The graphical and non-graphical or virtual reality displays described herein can be provided for generating 2D and 3D.

The received code may be executed by processor 904 as it is received, and / or stored in storage device 910 or other non-volatile storage for later execution. In this manner, computer system 900
Can obtain the application code in the form of a carrier wave.

Thus, the present invention has been described herein with reference to a particular embodiment thereof. It will be apparent, however, that various modifications and changes can be made to the present invention without departing from the broader spirit and scope of the invention. Therefore, the specification and drawings are to be regarded as illustrative rather than in a limiting sense.

[Brief description of drawings]

FIG. 1 is a block diagram of a virtual trading floor system according to the present invention including a coder / decoder, an avatar interface, a data interface and a control interface.

2 illustrates a metaphor used to represent buy and sell traders generated by the avatar interface of FIG. 1 in accordance with the present invention.

FIG. 3 illustrates a larger number of buy trader metaphors than sell trader metaphors that may result in a bullish environment for a particular stock or commodity.

FIG. 4 is a virtual trading floor, quote board, order entry entry bar generated by the avatar interface, data interface and control interface of FIG. 1 according to the present invention that can be viewed on a display device at the trader's discretion. It is a figure which shows and a graph.

FIG. 5 is a diagram of multiple virtual trading floors representing multiple markets that may be viewed at the trader's discretion.

FIG. 6 shows an alternative embodiment of the display device of FIG. 4 consisting of an order entry entry screen on one monitor, a quote board and a virtual trading floor on a second monitor.

[Figure 7]   It is a figure which shows the present position screen of the trader by one Embodiment of this invention.

[Figure 8]   FIG. 6 illustrates a virtual reality floor according to an alternative embodiment of the present invention.

FIG. 9 is a block diagram illustrating a computer system that can include any one or more of a transaction source, coder / decoder, avatar interface, data interface or control interface.

─────────────────────────────────────────────────── ─── Continued front page    (81) Designated countries EP (AT, BE, CH, CY, DE, DK, ES, FI, FR, GB, GR, IE, I T, LU, MC, NL, PT, SE, TR), OA (BF , BJ, CF, CG, CI, CM, GA, GN, GW, ML, MR, NE, SN, TD, TG), AP (GH, G M, KE, LS, MW, MZ, SD, SL, SZ, TZ , UG, ZW), EA (AM, AZ, BY, KG, KZ, MD, RU, TJ, TM), AE, AG, AL, AM, AT, AU, AZ, BA, BB, BG, BR, BY, B Z, CA, CH, CN, CO, CR, CU, CZ, DE , DK, DM, DZ, EE, ES, FI, GB, GD, GE, GH, GM, HR, HU, ID, IL, IN, I S, JP, KE, KG, KP, KR, KZ, LC, LK , LR, LS, LT, LU, LV, MA, MD, MG, MK, MN, MW, MX, MZ, NO, NZ, PL, P T, RO, RU, SD, SE, SG, SI, SK, SL , TJ, TM, TR, TT, TZ, UA, UG, US, UZ, VN, YU, ZA, ZW

Claims (40)

[Claims] 1. A coder / decoder for transmitting and receiving data, and receiving some of said data transmitted from said coder / decoder as a metaphor of a plurality of buy and sell traders representing actual buy and sell traders. A graphical interface coupled to the coder / decoder for displaying, a control interface coupled to the coder / decoder to initiate an order for the data to be transmitted and received by the coder / decoder, and the data And a data interface coupled to the coder / decoder for transmitting and receiving data to and from the coder / decoder. 2. The trading simulator of claim 1, wherein the coder / decoder receives the data from a trading source. 3. The trading simulator of claim 1, wherein the graphical interface, the control interface and the data interface comprise a single interface. 4. The transaction according to claim 1, wherein each said actual buying trader is represented by a person's metaphor, said person's metaphor waving his hand towards his person's metaphor. Simulator. 5. The method according to claim 1, wherein each said actual selling trader is represented by a person's metaphor, said person's metaphor raising his hand with his palm in a direction opposite to said person's metaphor. Trading simulator. 6. A particular one of the plurality of buy trader metaphors is positioned visually ahead, ie is characterized by a larger metaphor than the rest of the plurality of buy trader metaphors and is valuable. The trading simulator of claim 1, representing one of the actual buy traders having the highest bid price for a security. 7. A particular one of the plurality of sell trader metaphors is visually located forward, ie, characterized by a metaphor that is larger than the remaining plurality of sell trader metaphors, and is valuable. The trading simulator of claim 1, representing one of said real sell traders having a minimum ask price for a security. 8. The plurality of buy and sell trader metaphors each have an associated visual price instruction and an associated visual quantity instruction.
The trading simulator according to claim 1. 9. Any of the sell traders in the first row has a lower associated bid price than any sell trader in the second row after the first row, and the plurality of sells. 3. The metaphors of the plurality of sell traders are arranged in multiple rows based on the ask price of each sell trader so that the trader metaphors are arranged in order of the ask price in each row. Trading simulator described in. 10. Any of the buy traders in the first row has a higher associated bid price than any buy trader in the second row after the first row, and the plurality of buys. 2. The metaphors of the plurality of buying traders are arranged in multiple rows based on the bid prices of each of the buy traders so that the metaphors of the traders are arranged in order of the bid prices in each row. Trading simulator described in. 11. The trading simulator of claim 1, wherein the plurality of sell trader metaphors are represented by a first color and the plurality of buy trader metaphors are represented by a second color. 12. The given one of the metaphors of the plurality of sell traders representing the best bid price is adjacent to the given one of the metaphors of the plurality of buy traders representing the best bid price. The trading simulator according to 1. 13. The trading simulator of claim 1, further comprising hearing means for providing price and quantity indications associated with a particular sell or buy trader. 14. The particular one of the plurality of buying trader metaphors comprises:
The trading simulator of claim 1, representing a plurality of said actual buying traders, each having a highest bid for a security. 15. A particular one of the plurality of sell trader metaphors comprises:
The trading simulator of claim 1, representing a plurality of actual sell traders, each having a minimum ask price for a security. 16. The trading simulator of claim 1, wherein the particular one of the plurality of buy trader metaphors is representative of a plurality of the actual buy traders. 17. The trading simulator of claim 1, wherein a particular one of the plurality of sell trader metaphors represents a plurality of the actual sell traders. 18. The method of claim 1, wherein a particular one of the plurality of buy trader metaphors is representative of the plurality of actual buy traders and has an associated visual price indication and an associated visual quantity indication. Trading simulator. 19. The method of claim 1, wherein a particular one of the plurality of sell trader metaphors is representative of a plurality of the actual sell traders and has an associated visual price instruction and an associated visual quantity instruction. Trading simulator. 20. The transaction of claim 1, wherein the number of metaphors of the plurality of buy and sell traders varies corresponding to the number of transactions of the actual buy and sell traders on a particular security. Simulator. 21. The trading simulator of claim 1, further comprising hearing means, the volume of which rises and falls corresponding to the number of trades in the particular securities of the actual buy trader or sell trader. 22. The trading simulator of claim 1, further comprising a hearing means whose volume rises and falls in response to the number of trades of the actual buy or sell trader in a particular market. 23. The trading simulator of claim 1, wherein the audio further comprises auditory means that rise and fall in response to the number of trades of the actual buy or sell trader in multiple markets. 24. The trading simulator of claim 1, further comprising auditory means for providing confirmation of a trade between a particular one of the actual buy traders and a particular one of the real sell traders. 25. The trading simulator of claim 1, further comprising a hearing means for raising and lowering audio in response to a trading volume on a particular security. 26. The trading simulator of claim 1, further comprising a hearing means for raising and lowering audio in response to trading volume in a specific market. 27. The trading simulator of claim 1, further comprising a hearing means for raising and lowering audio in response to trading volumes in multiple markets. 28. The trading simulator of claim 1, further comprising a quotes board displayed with the plurality of buy and sell trader metaphors. 29. The transaction of claim 1, wherein the plurality of buy and sell trader metaphors are representative of actual sell and buy traders in different markets and are displayed on different segments of a given display device. Simulator. 30. The trading simulator of claim 29, wherein traders can place orders in a given market of the different markets that are shown to be active. 31. The trading simulator of claim 1, further comprising a displayed quotes board containing information for one or more different markets. 32. A trader may place an order in a given market of the different markets that is visually shown to be active on the quote board, and the plurality of buy and sell metaphors may be placed in the given market. 32. Representing a market activity of
Trading simulator described in. 33. A trader can place an order in a given market of the different markets that is visually shown to be active on the quote board, and the plurality of buy and sell metaphors are in different markets. 32. The trading simulator of claim 31, which represents the activity of. 34. A trading simulator including a source for providing data and a graphical interface for receiving the data and displaying a plurality of buy and sell trader metaphors representing actual buy and sell traders. 35. A source for producing data, and a coder / receiver for receiving the data from the source, coupled to the source.
A trading simulator including a decoder and a graphical interface for receiving the data from the coder / decoder and displaying a plurality of buy and sell trader metaphors representing actual buy and sell traders. 36. A source for generating data,   A coder / decoder coupled to the source,   A graphical interface coupled to the coder / decoder,   A control interface coupled to the coder / decoder,   A data interface coupled to the coder / decoder,   Trading simulator including. 37. A coder / decoder for transmitting and receiving data, a control interface coupled to the coder / decoder, a data interface coupled to the coder / decoder, and receiving the data from the coder / decoder. And a graphical interface coupled to the coder / decoder to display a plurality of buy and sell trader metaphors representing actual buy and sell traders, wherein at least one of the buy and sell metaphors is provided. One movement
A trading simulator that includes a graphical interface that responds to and synchronizes with the movements of real traders. 38. A source for generating data, a coder / decoder coupled to the source, a control interface coupled to the coder / decoder, and a data interface coupled to the coder / decoder. A graphical interface coupled to the coder / decoder for receiving the data from the coder / decoder and displaying a plurality of buy and sell trader metaphors representing actual buy and sell traders, , At least one movement of the buy metaphor and the sell metaphor is 1
A trading simulator that includes a graphical interface that responds to and synchronizes with the movements of real human traders. 39. The trading simulator of claim 38, wherein the at least one of the buy trader and sell trader metaphors visually faces the remaining metaphors of the buy trader and sell trader metaphors. 40. Generating data, receiving the data, and displaying the data in the form of a plurality of buy and sell trader metaphors representing actual buy and sell traders. , Trading method using trading simulator.