Patent ID: 11875403
Assignee: GFI GROUP, INC.
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 6:
7. An electronic device, comprising:
input circuitry;
memory storing instructions; and
at least one processor,
wherein the instructions are executable by the at least one processor to cause the electronic device to:
receive, via the input circuitry, a first order corresponding to a price and volume associated with a predetermined bid-offer spread, the first order executable with a counterorder that trades with the first order and includes a commitment by a first user to make a two-way market in a financial instrument at the predetermined bid-offer spread;
initiate a first timer tracking a first time elapsed since occurrence of a trade of the financial instrument to a first predetermined time to make the two-way market;
determine that the first time elapsed since occurrence of the trade exceeds the first predetermined time to make the two-way market;
responsive to determining that the first predetermined time is exceeded, generate electronic commands to submit a default market, and impose a first penalty on the first user that entered commitment to make the two-way market in the financial instrument at the predetermined bid-offer spread and failed to submit the two-way market; and
initiate a second timer tracking a second time elapsed submitting of the default market to a second predetermined time to buy or sell at provided levels of the default market.