Patent ID: 11900459
Assignee: CBOE EXCHANGE, INC.
Field: Computer technology (Electrical engineering)
Classification: CPC G | IPC G

Claim 3:
4. The method of claim 1, wherein the exchange computer system is a distributed computer system comprising an order routing system, an order matching system, and an auction engine;
wherein the security transaction order that includes the auction request is received by the order routing system;
wherein the order routing system forwards the security transaction order to the order matching system;
wherein the first matching order that includes the request for participation in the auction is received by the order routing system;
wherein the order routing system forwards the first matching order to the order matching system;
wherein the order matching system determines that the first matching order matches the security transaction order;
wherein the auction engine initiates the delay timer that runs for the first randomized period of time in response to the determination that the first matching order matches the security transaction order;
wherein the auction engine notifies the plurality of market participants of the auction in response to the determination that the first randomized period of time has expired; and
wherein the order matching system facilitates the transaction based on the security transaction order in response to the determination that the second period of time has expired.