Patent ID: 11972484
Assignee: NYSE CHICAGO, INC.
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 0:
1. A method for matching using at least a contingent order matching system (COMS), comprising:
maintaining a plurality of stored electronic orders in a storage register in a first format that is compliant with the COMS, wherein the plurality of stored electronic orders are ranked according to a primary criteria and a secondary criteria;
receiving, over a network, incoming electronic orders in a second format that is only compliant for processing by an independent exchange system, at least a portion of the incoming electronic orders comprising contingency information; and
executing an order handling algorithm that converts the incoming electronic orders to the first format, thereby obviating a need for multiple exchange systems, including said independent exchange system, said executing comprising:
validating the incoming electronic orders to form validated electronic orders, the validating comprising determining that the incoming electronic orders include requisite data for processing;
electronically routing the validated electronic orders to a matching system; and
matching, by a matching algorithm of the matching system, the validated electronic orders with one or more stored electronic orders of the plurality of stored electronic orders in the storage register, the matching based on a ranked priority which matches the one or more stored electronic orders first by the primary criteria and then by the secondary criteria, except when at least one stored electronic order of the one or more stored electronic orders is determined to be unmatchable based on the contingency information, wherein if matched, the at least one stored electronic order yields priority to lower ranked stored electronic orders in the storage register having a same primary criteria.