WO2001039065A1 - Systeme et procede de collecte de donnees relatives aux attitudes liees aux transactions avec des valeurs mobilieres - Google Patents

Systeme et procede de collecte de donnees relatives aux attitudes liees aux transactions avec des valeurs mobilieres Download PDF

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Publication number
WO2001039065A1
WO2001039065A1 PCT/US2000/026457 US0026457W WO0139065A1 WO 2001039065 A1 WO2001039065 A1 WO 2001039065A1 US 0026457 W US0026457 W US 0026457W WO 0139065 A1 WO0139065 A1 WO 0139065A1
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WIPO (PCT)
Prior art keywords
ballot
security
reasons
reason
sentiment data
Prior art date
Application number
PCT/US2000/026457
Other languages
English (en)
Inventor
Harish Devarajan
Jesse Stone
David Michaels
Hyung-Jin Kim
Mark Tolani
Richard Yen
Huy Ton
Original Assignee
Shockmarket Corporation
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Shockmarket Corporation filed Critical Shockmarket Corporation
Priority to AU14307/01A priority Critical patent/AU1430701A/en
Publication of WO2001039065A1 publication Critical patent/WO2001039065A1/fr

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    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Definitions

  • the present invention is related generally to methods and systems for monitoring and analyzing security transactions, and more particularly, methods and systems for collecting and presenting sentiment data for security transactions.
  • a method and system for collecting, analyzing, and presenting user sentiment data for security transactions is disclosed.
  • a method of one embodiment of the present invention is for collecting sentiment data relating to security trading.
  • the method generally includes providing a ballot configured for receiving electronic entries and electronically receiving sentiment data and associated security transaction information entered
  • a system of the present invention is for collecting sentiment data related to security transactions.
  • the system generally includes a computer system accessible for online interactive communication with users and a processor configured to receive sentiment data and associated security transaction information.
  • the system further includes storage medium for storing the sentiment data and associated security transaction information.
  • a computer program product for collecting sentiment data relating to security trading generally comprises computer code that presents a sentiment ballot to an investor for entering sentiment data.
  • the product further includes computer code that receives the sentiment ballot and stores the sentiment data along with associated security
  • transaction information and a computer readable medium that stores the computer code.
  • a method for collecting user sentiment data electronically generally comprises providing a ballot having a plurality of reasons for placing an order to a user. Each of the plurality of reasons has a weight assigned thereto.
  • the ballot is configured for receiving electronic entries and comprises a top-level ballot including a primary list of reasons and a second- level ballot including a secondary list of reasons.
  • the primary list includes
  • the method further includes receiving a reason identified by the user on the ballot for placing
  • a method for creating a certificate verifying that an order was placed by a user for use in electronic communication generally comprises placing an order in an electronic media and creating a certificate generated from information contained in the order after the order is completed.
  • the certificate specifies the user and type of order placed and is configured for attachment to a message from the user in the electronic media.
  • a method of collecting security trading information generally comprises electronically receiving security transaction information from an investor, storing the security transaction information in a database along with other security transaction information from other investors,
  • Fig. 1 is a block diagram illustrating screens used to trade stock and collect and display information relating to a user's reasons for performing the trade, in a system of the present invention.
  • Fig. 2 is a top-level ballot screen used to input user sentiment data.
  • Fig. 3 is a second-level ballot screen.
  • Fi x og.- 4 is a third-level ballot screen.
  • Fig. 5 is a table illustrating a database used to store trading activity and ballot information.
  • Fig. 6 is a flowchart illustrating collection and storage of user sentiment data in the database shown in Fig. 5.
  • Fig. 7 shows bar charts displaying the top reasons for buying, selling, or shorting a specific stock and the number of shares traded for these reasons.
  • Fig. 8 is a chart showing stocks which were traded for the same reason as listed in one of the charts shown in Fig. 7.
  • Fig. 9 is a bar chart illustrating volume of shares traded for a specific reason, company, and trade action over a specified period of time.
  • Fig. 10 is a graph of stock price versus time with trade activity, reasons for trade, and news events identified on the graph.
  • Fig. 11 is a Web page displaying a certificate used to verify that a trade was made by a specific investor.
  • Fig. 12 is an entry screen used to create the certificate shown in Fig. 11.
  • Fig. 13 is a screen displaying a portable certificate containing a URL linked to the page displaying the certificate shown in Fig. 11.
  • Fig. 14 is a screen illustrating a chat room bulletin board displaying a posted message containing the portable certificate of Fig. 13.
  • Fig. 15 is a summary screen provided to a user after completion of a stock trade and ballot.
  • Fig. 16 is a table illustrating trades made by other investors with similar trading histories.
  • Fig. 17 is a screen for use in entering reasons for display on one or more of the ballot screens.
  • Fig. 18 is a screen for use in modifying a ballot by changing the order or grouping of reasons on the ballot.
  • sentiment data includes, for example, reasons for conducting a security transaction, persons who suggested a security transaction, location of investor when security transaction was first considered, length of time investor followed the stock before conducting the transaction, length of time investor plans to hold the stock, and other information relating to why an investor selects or executes a security transaction.
  • user sentiment data may include a reason why an investor made a certain transaction and associated security transaction information may include the type of security traded (e.g., company stock), trade action (e.g., buy, sell, short, cover) and the number of shares of stock traded.
  • the system of the present invention is used to collect sentiment data after the order is placed, before the order is placed, or at the time the order is placed, analyze the data collected, and display the data in various formats, as described below.
  • the data may be used by an investor to review stocks traded for reasons similar to those used by the investor or may be used to analyze performance of one or more investors over a period of time, for example.
  • a certificate may be created based on the sentiment data entered by an investor to verify that he made a specific trade action for a number of shares of a stock and may even include the reason why the investor made the transaction. As further described below, this certificate may be used to provide credible information to support an investor's statements made in electronic communications, for example.
  • the system described herein may also be used to monitor and analyze trading activities of other types of financial securities or other activities such as the buying or selling of various goods or services.
  • the system is preferably used in conjunction with an online brokerage service (e.g., E*TRADE or DATEK).
  • E*TRADE or DATEK The system may be integrated directly into the brokerage Web site, or the system may be located on a separate Web site which is linked directly to the brokerage site.
  • the brokerage site may include a selectable icon representing the sentiment collection system, which will display information within the current window or launch a separate browser window when selected.
  • the browser window may contain, for example, a summary of the sentiment collection system and instructions describing how to register to use the system.
  • the user may then register so that whenever he processes a trade on the brokerage site he will be brought to ballot screens described below, to enter his sentiment data. Once the user is registered to use the system he will then be allowed to view various charts and graphs providing a
  • the sentiment data may also be available for anyone to view at the brokerage sites or at another web site on the Internet, for example.
  • system may also be used in other types of applications.
  • the system may be stored on a server and obtained through a network system for a select group of users, or the system may be run on a single computer and accessed by a user to provide analysis based only on the
  • the data collected may not be as credible as the data collected in conjunction with the actual transaction.
  • the methods and processes described below are preferably implemented in a computer program product having computer codes which perform the various steps of the method and process.
  • the computer codes are preferably stored in a computer readable medium, such as CD-ROM, floppy disk, zip disk, tape, flash memory, system memory, hard drive, or data signal embodied in a carrier wave, such as over a network.
  • Fig. 1 shows an example of screens which may be displayed to a user when trading stock online and using the system of the present invention.
  • the first two screens 20, 22 (or screens containing similar information) are typically presented to a user when trading stock on an online brokerage site. After logging on to the brokerage site and entering a password the user may enter the type of stock, specific trade action (e.g., buy, sell, short, cover), and the number of shares
  • a submit button 21 located on the stock trade screen 20 to process his order.
  • the user is then presented with a confirmation screen 22 which also includes a submit button 21 which the user must select to continue processing his order.
  • a top-level ballot screen 24 used to collect sentiment data from the user will appear.
  • the ballot screen 24 is preferably presented to the user immediately after he has made a trade so that the reason he made the trade is fresh in his mind. Once the user specifies the reason for making the trade, a summary screen 25 will appear.
  • the summary screen 25 provides the user with various types of statistics on recent sentiment data collected for the stock he just traded and sentiment data for different stocks traded for reasons similar to the one he selected, as described below.
  • the summary screen 25 may include different types of sentiment data displayed in various formats and preferably includes links to pages containing related data which may be of interest to the user.
  • the user may elect not to vote on a particular stock trade. In this case the user may move on to a different site or return to the stock brokerage home page, for example. The user may be required to select a reason for a certain number of
  • the top-level ballot screen 24 is shown in Fig. 2 with additional detail.
  • the top-level ballot 24 includes a number of reasons why a user may have traded a specific security.
  • the ballot screen 24 includes reasons why a user may have bought stock of Company X.
  • a different ballot screen is used for other trade actions since reasons listed for a buy action may not be applicable to the other trade actions (i.e., sell, short, cover).
  • Some reasons listed under a specific stock for a buy action may be similar to a reason listed
  • the reasons listed on the top-level ballot screen 24 are preferably grouped into classes. As shown in Fig. 2, the classes may include company analysis, industry analysis, general market conditions, and price/chart analysis.
  • the top- level ballot 24 includes four reasons for each class, for example. Each reason is listed with a short summary title such as "Company X rumored to move into software business.” If the user does not see the reason he is interested in, but believes his reason would be listed within one of the four classes, he can click on "more" under that class.
  • a second-level ballot screen 26 will appear expanding the list of reasons under Company Analysis, as shown in Fig. 3. The second-
  • level ballot 26 includes a list of all the reasons in a given class including those listed on the top-level ballot 24. If the user still does not see a reason which matches the specific reason he had in mind when he traded the stock he can type in a one-line description of his specific reason in a box 27 next to "Other" on the second level ballot. When a user creates a new reason, it will be sent to an analyst, as described below. The analyst will decide whether the reason belongs on the ballot. If the analyst decides to add it to the ballot, he will provide a summary title and detailed explanation. If the user wants to go back to the top- level ballot 24 to view the other classes, he can select "back" to get back to the top-level ballot.
  • the reason title summaries on the top-level ballot 24 and second-level ballot 26 are preferably hyper- linked to the corresponding third-level ballot 28. For example, when the user clicks on one of the reason summaries, he is brought to a new Web page (screen 28) devoted primarily to the reason summary he clicked on.
  • the third-level ballot screen 28 provides an expanded explanation of the reason, and may also include a date if the reason is related to a specific event.
  • buttons 30 which reads "Vote for this reason.”
  • the user can click on button 30 to vote for this reason without having to return to the top- level ballot 24 or second-level ballot 26.
  • the screen 28 preferably includes links 32 to get the user back to the top-level ballot 24 or second-level ballot 26 if he does not wish to vote for this reason after reading the detailed explanation.
  • the reasons included in the ballot may be selected by an equity analyst, for example.
  • the analyst When coverage is initiated on a new security, the analyst will prepare an initial list of reasons to display on the ballot screens 22, 24 (Figs. 2 and 3).
  • the equity analyst may review information on securities in the same sector as the new security and recent news stories related to the security.
  • Global reasons i.e., reasons that appear on the ballot of each stock for a specific trade action
  • the list of reasons on the ballot screens 24, 26 are preferably periodically updated throughout the day.
  • the analysts may review news items which may impact a particular industry or stock and add new reasons to the ballots.
  • the reason lists are preferably continuously updated so that the top reasons (i.e., reasons selected most often) are located on the top-level ballot screen 24.
  • the equity analysts follow the news of a number of stocks in order to keep the ballots up to date.
  • the analyst enters the reason into a database.
  • the equity analyst may use entry screens as shown in Figs. 17 and 18, for example.
  • the analyst enters the reason summary and a longer reason explanation.
  • the reason may be identified as a global reason, in which case the reason will be automatically listed under all stock ballots.
  • the analyst next maps the reason to the appropriate trade actions.
  • Fig. 17 shows an
  • Fig. 18 shows an exemplary screen for modifying class, cluster, display order, and weight for a specific stock and trade action.
  • a reason When a reason is first created it is assigned to various securities and trade actions. For each of these, a class, cluster, display order, and weight is assigned. The weight determines which of the reasons within each class are displayed on the top-level ballot 24 and the display order determines the order of the reasons within each cluster.
  • the clusters (described below) are also displayed in a predetermined order on the second-level ballot 26.
  • the weight and display order are used to organize the reasons along with various other rules. For example, since the static reasons always appear on the ballot, they preferably remain listed in the same order on all ballots so that the user gets used to seeing them in the same position relative to one another, regardless of their current popularity.
  • the news items in contrast, may be listed with respect to their weight and display order, for example. The following describes an example of a method used to organize the list of reasons.
  • the analyst creating the initial reason list for the ballot 26 assigns a weight to each reason.
  • the reasons with the highest weights are listed on the top-level ballot 24.
  • the reasons listed on the top-level ballot 24 are those which are most likely to be selected by an investor. This reduces the time it takes for an investor to fill out the ballot, since he will not need to look at the second-level ballot 26 if his reason is located on the top-level ballot 24.
  • this method may statistically alter the weighting of the reasons, since an investor may be more likely to pick one of the first few choices.
  • different weighting and ranking schemes may be used.
  • the weights are preferably periodically updated so that as a reason
  • One method for updating the weights of the reasons is to increase the weight of a reason every time a user votes for the reason and slightly decrease the weight whenever a user votes for a different reason within the same cluster.
  • Reasons which are infrequently selected may eventually be dropped off the list. For example, if a reason's weight becomes very small due to lack of popularity, an alarm may go off to the analyst recommending that the analyst remove the reason from the ballot.
  • the sum of the weights of each reason is set equal to the number of reasons on all second-level ballots 26 for a specific trade action and stock For example, if the ballot has five reasons, the weights for each of the five reasons will add up to five. When a reason receives a vote, its weight will be increased slightly (e.g., by 0.1). The other weights will then all be modified equally so that the total of the weights still equals the number of reasons. For example, suppose the weights (wl, w2, w3, w4, w5) for five reasons are each equal to one and someone votes for the reason with weight w2. The weight w2 will be increased by 0.1 and all the other weights (wl, w3, w4,
  • the exponential decay of the weights over time will prevent a sudden decrease in the weight of a particular reason so that the reasons listed on the top-level ballot screen 24 are not constantly changing.
  • the weight is also used to determine when a reason has become old and should no longer be listed on the ballot. A reason is preferably deleted from the second-level ballot 26 when its weight
  • a certain threshold e.g., 0.1
  • the reasons are preferably not listed simply by weight on the second- level ballot screen 26 because this would result in a constant shuffling of the reasons on the ballot.
  • the display order is used to organize the list of reasons on the second-level ballot screen 26.
  • the display order is used to organize reasons within the cluster on the second-level ballot 26.
  • the cluster is a subgroup of reasons within a class provided to organize the reasons in a structured and logical way for the user. For example, the clusters allow reasons to appear generally in the same display order every time the user sees the ballot. This makes the ballot
  • the reasons under the Company Analysis and Industry Analysis classes may be grouped into clusters such as news, ongoing conditions, local static, and global static, for example.
  • the clusters for the General Market Conditions class may include news, ongoing conditions, and global static.
  • the Price/Chart Analysis class may be broken into non-technical and technical clusters, for example.
  • the news cluster would include items such as "Microsoft announces new online auction site.” These reasons are typically confined to a small number of companies (perhaps in the same industry) and are only on the ballot for a short amount of time.
  • Ongoing conditions may include "Falling PC prices.” These reasons typically impact a large number of companies and may remain on the ballot for a long period of time.
  • a static reason may be "Marketing strategy.” These reasons do not change over time.
  • a static reason may be global (i.e., apply to all (or almost all) stocks) or local (i.e., does not apply to all stocks).
  • a local static reason is one that does not change over time and does not apply to all stocks, whereas a global static reason does not change over time and does apply to all stocks.
  • each cluster contains either all global reasons or no global reasons. This provides for easier updating by the analyst and simpler groupings for the user. The cluster and class for each reason are selected when the reason is added to the ballot, or when the ballot is initially created.
  • Table 1 shown below, provides an example of a reason list, with associated cluster, global or non-global identifier, display order, and weight.
  • the first column in the table lists the summary reason, the second column specifies the cluster in which the reason is located, the third column indicates whether the reason is a global or non-global reason, the fourth column specifies the display order, and the fifth column specifies the weight.
  • This reason list may appear on a second level ballot screen 26, for example, with only the first column being visible to the user.
  • the other columns are used to organize the reasons and are not visible to the user.
  • the reasons are first grouped within their cluster based on the display order number, and the clusters are then positioned relative to one another.
  • the order of the clusters is predetermined and preferably remains the same so that a user will always see the same type of reasons in a specific location in the reason list. For example, as shown in Table 1 the news cluster is listed first.
  • the weight is used to determine which of the reasons are placed on the top-level ballot screen 24. For example, the first three reasons and the fifth
  • the reasons described above, classes, clusters, types of clusters, number of reasons, ballots, and ranking scheme may be different than described above without departing from the scope of the invention.
  • the number of reasons listed on a ballot may be increased or decreased, and the reasons may be condensed onto a single ballot screen.
  • the reasons may be ranked strictly according to weight or may be static, always remaining in the same position.
  • the ballot may include a brief description of the sentiment data
  • the ballot may also be an e-mail containing the sentiment data which is sent to a data collection center.
  • the ballot may also be presented in other forms such as a stand alone application or a browser plug in module, for example.
  • the data is sent to a table 40 as shown in Fig. 5, for example.
  • User sentiment data is preferably registered as being credible only when orders are executed. Thus, user sentiment based on an open order is not included in table
  • the data will remain in temporary storage until the end of the day. If the trade is not executed before the first market close following the order's placement, the ballot will be deleted. If only the executed order is received, it will remain in memory for fifteen minutes. If a corresponding ballot is not received within this time, the data will be deleted. This process is further described below with respect to the flow chart shown in Fig. 6.
  • the time between ballot submission and order execution can vary from seconds (if it is a marketable order) to months.
  • the sentiments are preferably posted with the date that the order was executed. However, the sentiments may also be posted with the date that the order was placed, even though it may have been executed at a later time.
  • the reason for posting with the date that the order was placed rather than executed is because the reason for making the trade at the time of the order may no longer be applicable on the date
  • the order is executed. As discussed above, the data will not be considered credible and included in the database until the order is actually executed.
  • Market orders may be assumed to be executed so that ballot data received for market orders can be considered credible. While it is true that market orders can be canceled or replaced, the assumption that they are executed is fairly reasonable.
  • the price information can be used to approximate when the order executes. For example, the price of a security may be checked every few minutes (with interpolation between intervals). If a stock price reaches the stop or limit price, the sentiment for that order will be considered credible and entered into the database.
  • Information on cancellation and replacement orders may also be used to further refme the sentiment data. For example, if an order for two hundred shares is cancelled after one hundred shares are executed, only one hundred shares of sentiment data are registered as credible.
  • the data collected in the table 40 of Fig. 5 may be transferred to an intraday aggregate sentiment table at periodic intervals (e.g., every hour).
  • the data may be sorted within the table by stock or reason, for example, to allow for quick searching and presentation of the data.
  • the data from the intraday sentiment table is preferably transferred to a daily aggregate sentiment table.
  • the data from the daily table may be sorted and then transferred as a daily bucket, for example, to a final sentiment data table.
  • the data within the table may also include a market hour flag and a valid
  • the market hour flag is used to provide consistency among different charts and graphs. For example, one graph may
  • the valid flag identifies whether a trade was executed within a specified period of time (e.g., same day) after the data was entered. If the valid flag is false the data will not be included in a chart. This provides consistency for charts displaying the same data, but viewed at different times.
  • the table may also include execution time, sentiment ID (identifying a line of data in the table), subscriber ID (for user), brokerage ID (for brokerage site), brokerage trade ID (identifying specific trade), vote time, volume placed and executed, price type ID (e-g-, market or limit order), user reason ID (if user typed in new reason not listed in ballot), valid flag (true/false), and market hour flag (true/false).
  • sentiment ID identifying a line of data in the table
  • subscriber ID for user
  • brokerage ID for brokerage site
  • brokerage trade ID identifying specific trade
  • vote time volume placed and executed
  • price type ID e-g-, market or limit order
  • user reason ID if user typed in new reason not listed in ballot
  • valid flag truee/false
  • market hour flag true hour flag
  • Fig. 6 shows a flowchart illustrating a process for collecting and storing the sentiment data.
  • the user first enters the stock name, number of shares and trade action on screen 20 (Fig. 1) at the brokerage site (step 50).
  • the confirmation screen 22 next appears and the user clicks on the submit button 21 to confirm his order at step 52.
  • the user is then brought to the top-level ballot screen 24 where he reviews the reasons listed (Fig. 2). If the user sees the reason that he traded the stock listed on screen 24 he can select the reason and submit the ballot.
  • the user may also click on a class heading to see additional choices
  • the valid flag will be set to false and the data entered into the sentiment table (steps 64, 65, and 58). It is to be understood that the process for collecting and storing the data may be different than described and shown herein. For example, the user may be able to enter sentiment data for a period longer than fifteen minutes or the ballot may be stored longer than one day to wait for the order to be executed.
  • the data is preferably collected from many different brokerage services and stored in a common database so that users may view data across the online trading community.
  • the data may also be collected from a single brokerage firm.
  • the data may be sorted by trade action (buy, sell, cover, short), security, or a fixed time period (e.g., three hours, two days, one week).
  • the data may also be analyzed for one investor to determine the investor's own performance. The following provides examples of formats for displaying the data.
  • Fig. 7 shows three charts 70, 72, 74 illustrating shares traded for the three
  • top reasons for buy, sell, and short activity of a certain stock Each chart lists the three top reasons selected by persons trading the stock and the number of shares traded. These charts allow a user to view the reasons that other traders listed for transacting in a given security over a specified time period. For example, the user can see why other traders have been selling Microsoft stock over the past week. The user can change the security he is viewing, the trade action, or the time period.
  • Fig. 8 shows the resulting chart 80.
  • the share volume for the original company is displayed showing the percentage traded for the selected reason along with two other companies with a high percentage of shares traded for the same reason.
  • the chart displays what percentage of users selling these securities listed this reason as compared to all other reasons. For example, if "Falling PC prices" in the Reasons for Selling chart 72 of Fig. 7 is selected, the chart 80 in Fig. 8 will be displayed.
  • the chart shows the percentage of stocks of Company X sold for "Falling PC prices" as compared to the percentage of stocks of Company X sold for other reasons.
  • the chart also includes bar charts for two companies with a high percentage of stocks sold for the same or similar reason as "Falling PC
  • Fig. 9 shows a chart 82 displaying share volume for a given security, trade action, and reason over a specified time period. For example, a user may be interested in seeing how many people traded a stock over the past week (broken down by day) or day (broken down by hour) for a specific reason. This allows a user to see, for example, trade activity when a company announced that they were acquiring another company. This chart may also show share volume over time for a specific reason and market sector or industry.
  • the data may also be presented to show the activity of a single investor.
  • Fig. 10 shows a graph 84 of share price versus time for Company X stock. Plotted on the graph are bars positioned at the time the investor traded stock, with the volume of shares shown on each of the bars. The number of
  • This graph 84 allows a user to view his trading history and rate his performance over a period of time. The graph 84 is useful in helping an investor determine how well he timed the market, not just with respect to price movements but with respect to trade reasons.
  • Another option which may be provided in conjunction with this graph is a personal effectiveness grade based on objective criteria.
  • the user's perceived trading effectiveness may be graded using an objective criteria based on financial success and trade reasons.
  • the user's trades may be analyzed to determine whether the user correctly anticipated rises in stock prices for the correct reasons and this information may then be used to provide the user with a score based on how well he timed the market. For example, if a user purchased Company X stock for reason Y at 2:00 p.m., a four hour window around the time of the trade can be analyzed to determine if more people made the same trade before or after
  • Nl is defined as the number of shares of Company X stock that investors bought for reason Y from 12:00 p.m. to 2:00 p.m.
  • N2 is defined as the number of shares that investors bought from 2:00 p.m. to 4:00 p.m.
  • the user's score S may calculated as:
  • the user's score is 0.5. The score may then be combined with a factor based on how much money the investor made from his trade to calculate a grade for the investor to give him a feel for if he is making the right trades for the right reasons.
  • Fig. 11 shows a certificate 90 created to verify that a person posting a message actually did trade the security discussed in their message. This allows users to back up their opinions in messages created in electronic communications (e.g., chat rooms, e-mail). On existing bulletin boards, such as www.ragingbull.com, for example, users can post any random
  • a reader may even click on the message and view recent trades that the poster of the message has made (as shown in Fig. 10, for example). This provides credibility to the poster of the message. For example, if a poster of a message recently bought Company X stock with the reason of "Their strategy to challenge Company Y is succeeding", a follow-up post on the bulletin board to this effect will be considered more credible because the poster of the message has actually spent money and purchased stock.
  • the certificate owner may configure their privacy level to expose as little or as much information as they are comfortable with.
  • the user is provided a screen 92 where he can enter a user name for his portable certificate after confirming his order and selecting a reason (Fig. 12).
  • the certificate 90 will then be created at a specific URL 94 (e.g., http://www.shockmarket.com/1234567) shown in screen 96 (Fig. 13).
  • the URL 94 may be linked to a page displaying the certificate 90 verifying the user's most recent trade.
  • the URL 94 can be posted along with the user's postings or e-mails to make them more credible. For example, a user can post on an online bulletin board that he believes Company X is a good buy at the current price and include the URL 94 (Fig. 14).
  • a Web page which displays the portable certificate 90 for the user's last trade (Fig. 11).
  • the page may also display additional trading information about the user (as shown in Fig. 10, for example), if the user has elected to display additional information about his trading activities.
  • a summary screen 25 may be displayed to the user immediately after he submits his ballot to provide the user a quick overview of reason data relating to the trade he just made (Fig. 15).
  • the summary screen 25 includes the reason chart 80 (Fig. 8), the ranking of the reason the user selected for the stock he just traded, along with the top five reasons selected by others for the stock he traded.
  • the summary screen 25 further includes a URL for connecting the user to a web site to create a portable certificate 90 to use in verifying to others the trade he just made.
  • the summary screen 25 is designed to encourage investors to submit a ballot after they place an order and may include additional features, or other types of presentation of data.
  • Table 100 shown in Fig. 16 may be included in the summary screen or on a separate screen to identify investors that have conducted similar trades as the user, based on trading and balloting history.
  • the table 100 lists trades made by investors with similar investor sentiment, based on a number of ballots (e.g., past twenty- four) the user has filled out. Included in the table is the time the trade was made, the stock traded, the trade action, the number of shares traded, the reason for the trade and an investor affinity rating which identifies how similar two investors are. For example, every time the user and another investor make the same trade for the same reason, the investor affinity value is increased by 1.
  • the user can request to see recent trades (e.g., within the last day) made by an investor having a strong bond (high affinity rating) with the user. This allows the user to view a list of trades made recently by people with similar investment strategies. Similarity between investors (investor affinity) may also be based on risk preferences, industry preferences, or average time between trades, for example. The system may thus, group the investors based on security transaction

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  • Business, Economics & Management (AREA)
  • Accounting & Taxation (AREA)
  • Finance (AREA)
  • Engineering & Computer Science (AREA)
  • Development Economics (AREA)
  • Economics (AREA)
  • Marketing (AREA)
  • Strategic Management (AREA)
  • Technology Law (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • General Physics & Mathematics (AREA)
  • Theoretical Computer Science (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

L'invention concerne un procédé de collecte de données relatives aux attitudes liées au commerce des valeurs (20). Le procédé consiste à offrir à un investisseur la possibilité d'un vote comprenant plusieurs raisons pour négocier une valeur mobilière (24) après que cet investisseur ait placé un ordre pour cette valeur (22). Le système de vote est configuré pour recevoir des entrées électroniques. Le procédé consiste également à recevoir une raison, identifiée par l'investisseur lors du vote, pour négocier la valeur immobilière et à stocker la raison identifiée par l'investisseur ainsi que la valeur négociée dans une base de données avec d'autres données relatives aux attitudes (25). L'invention concerne aussi un système de collecte de données relatives aux attitudes.
PCT/US2000/026457 1999-11-23 2000-09-21 Systeme et procede de collecte de donnees relatives aux attitudes liees aux transactions avec des valeurs mobilieres WO2001039065A1 (fr)

Priority Applications (1)

Application Number Priority Date Filing Date Title
AU14307/01A AU1430701A (en) 1999-11-23 2000-09-21 System and method for collecting security transaction sentiment data

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
US44747899A 1999-11-23 1999-11-23
US09/447,478 1999-11-23

Publications (1)

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WO2001039065A1 true WO2001039065A1 (fr) 2001-05-31

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PCT/US2000/026457 WO2001039065A1 (fr) 1999-11-23 2000-09-21 Systeme et procede de collecte de donnees relatives aux attitudes liees aux transactions avec des valeurs mobilieres

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AU (1) AU1430701A (fr)
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US9418389B2 (en) 2012-05-07 2016-08-16 Nasdaq, Inc. Social intelligence architecture using social media message queues
US10304036B2 (en) 2012-05-07 2019-05-28 Nasdaq, Inc. Social media profiling for one or more authors using one or more social media platforms
US20210264506A1 (en) * 2001-06-28 2021-08-26 Pranil Ram Method of buying or selling items and a user interface to facilitate the same

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US4674044A (en) * 1985-01-30 1987-06-16 Merrill Lynch, Pierce, Fenner & Smith, Inc. Automated securities trading system
US5297032A (en) * 1991-02-01 1994-03-22 Merrill Lynch, Pierce, Fenner & Smith Incorporated Securities trading workstation
US5497317A (en) * 1993-12-28 1996-03-05 Thomson Trading Services, Inc. Device and method for improving the speed and reliability of security trade settlements
US5950176A (en) * 1996-03-25 1999-09-07 Hsx, Inc. Computer-implemented securities trading system with a virtual specialist function
US5987419A (en) * 1993-04-16 1999-11-16 Fujitsu Limited Automatic securities exchange system which detects communications errors and allows cancellation of orders
US6014643A (en) * 1996-06-28 2000-01-11 Minton; Vernon F. Interactive securities trading system
US6134535A (en) * 1994-03-23 2000-10-17 Belzberg Financial Markets & News International Inc. Computerized stock exchange trading system automatically formatting orders from a spreadsheet to an order entry system

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US4674044A (en) * 1985-01-30 1987-06-16 Merrill Lynch, Pierce, Fenner & Smith, Inc. Automated securities trading system
US5297032A (en) * 1991-02-01 1994-03-22 Merrill Lynch, Pierce, Fenner & Smith Incorporated Securities trading workstation
US5987419A (en) * 1993-04-16 1999-11-16 Fujitsu Limited Automatic securities exchange system which detects communications errors and allows cancellation of orders
US5497317A (en) * 1993-12-28 1996-03-05 Thomson Trading Services, Inc. Device and method for improving the speed and reliability of security trade settlements
US6134535A (en) * 1994-03-23 2000-10-17 Belzberg Financial Markets & News International Inc. Computerized stock exchange trading system automatically formatting orders from a spreadsheet to an order entry system
US5950176A (en) * 1996-03-25 1999-09-07 Hsx, Inc. Computer-implemented securities trading system with a virtual specialist function
US6014643A (en) * 1996-06-28 2000-01-11 Minton; Vernon F. Interactive securities trading system

Cited By (7)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US20210264506A1 (en) * 2001-06-28 2021-08-26 Pranil Ram Method of buying or selling items and a user interface to facilitate the same
US9418389B2 (en) 2012-05-07 2016-08-16 Nasdaq, Inc. Social intelligence architecture using social media message queues
US10304036B2 (en) 2012-05-07 2019-05-28 Nasdaq, Inc. Social media profiling for one or more authors using one or more social media platforms
US11086885B2 (en) 2012-05-07 2021-08-10 Nasdaq, Inc. Social intelligence architecture using social media message queues
US11100466B2 (en) 2012-05-07 2021-08-24 Nasdaq, Inc. Social media profiling for one or more authors using one or more social media platforms
US11803557B2 (en) 2012-05-07 2023-10-31 Nasdaq, Inc. Social intelligence architecture using social media message queues
US11847612B2 (en) 2012-05-07 2023-12-19 Nasdaq, Inc. Social media profiling for one or more authors using one or more social media platforms

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