Patent ID: 11961144
Assignee: NASDAQ TECHNOLOGY AB
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 14:
15. A system, comprising:
an electronic exchange including:
one or more memories; and
one or more one processors;
wherein the one or more memories and the one or more processors are configured to perform operations that include:
receiving, from a first user terminal operable on behalf of a primary user, information including a first order for a financial instrument;
receiving, from a second user terminal operable on behalf of a secondary user, information including a second order for a financial instrument;
storing the information including the first order and the second order in a database;
transmitting, to the first user terminal, first price information associated with the financial instrument;
transmitting, to the second user terminal, second price information associated with the financial instrument, wherein the second price information and the first price information are different; and
after transmitting the first price information and the second price information, transmitting a message to the first user terminal and second user terminal, wherein:
(i) the message indicates a market price for the financial instrument, and
(ii) the message does not include price offset information for the financial instrument;
transmitting information to the first and second user terminals that is different from the message and that indicates a match between orders for the financial instrument,
wherein the first price information is useable by the first user terminal to obtain the market price for the financial instrument for the primary user, and
wherein the second price information is useable by the second user terminal to modify the market price for the financial instrument to obtain an actual price for the financial instrument for the secondary user.