Patent ID: 11941695
Assignee: BGC PARTNERS, INC.
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 12:
13. An apparatus comprising:
one or more processors of an electronic trading venue, in which the one or more processors is configured to control:
receiving, over a communication network, a first indication of a swap contract from a first remote computing device of a first market participant;
in response to receiving the first indication of the swap contract, displaying, over the communication network, a public announcement of a potential crossing of the swap contract on second user interfaces respectively of second remote computing devices of second market participants;
in response to receiving the first indication of the swap contract, timing using a first electronic timer of the apparatus a first period of time and assigning a numerical identifier to the potential crossing;
in response to receiving the first indication of the swap contract,
displaying, over the communication network, on a first user interface of the first remote computing device, a progress bar together with a first countdown timer showing a real time count down of the first period of time being timed on the first electronic timer; and
disabling, over the communication network, during the first period of time, an operation state of the first remote computing device that provides a functionality at the first remote computing device to submit a request for cross;

after the first period of time has passed, and for a second period of time timed on a second electronic timer of the apparatus, enabling, over the communication network, the operation state of the first remote computing device that provides the functionality to submit the request for cross;
after the first period of time has passed, displaying, over the communication network, on the first user interface the progress bar together with a second countdown timer showing a real time count down of the second period of time being timed on the second electronic timer;
after the first period of time has passed and before the second period of time ends, generating a public re-announcement of a potential crossing of the swap contract in response to receiving a request to announce from the first remote computing device;
after the first period of time has passed before the second period of time ends, receiving, over the communication network, a second indication of the swap contract from the first remote computing device of the first market participant associated with the public re-announcement of the potential crossing of the swap contract;
in response to receiving the second indication of the swap contract, displaying, over the communication network, the public re-announcement of the potential crossing of the swap contract on the second user interfaces respectively of the second remote computing devices;
in response to receiving the second indication of the swap contract, allowing facilitation of the request for cross in the swap contract by the first market participant for the second period of time after receiving the second indication so that a total amount of time that facilitation of the request for cross is allowed by the first market participant includes twice the second period of time based on the first and second indications of the swap contract;
displaying, over the communication network, on the first user interface two parties, a ticker symbol of the swap contract, the numerical identifier, a price and a quantity;
receiving, over the communication network, the request for cross from the first remote computing device during the total amount of time, in which the request for cross identifies the two parties, the ticker symbol of the swap contract, the numerical identifier, the price and the quantity;
verifying that the request for cross includes the numerical identifier;
determining, based on the ticker symbol of the swap contract and a database mapping ticker symbols and clearinghouses, a clearinghouse for the cross; and
in response to verifying the numerical identifier and determining the clearinghouse, facilitating execution of the cross through the clearinghouse.