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

Claim 0:
1. A first user terminal for communicating with an electronic exchange system that communicates with a plurality of user terminals via a network, wherein the plurality of user terminals include the first user terminal and a second user terminal, wherein the first user terminal is operable on behalf of a first user and the second user terminal is operable on behalf of a second user, the first user terminal comprising:
a transceiver;
a processor associated with an application;
wherein the transceiver and the processor are configured to:
receive from the electronic exchange system, via the network, first offset information that indicates a first price offset value associated with a price of a financial instrument, where the first price offset value is different from a second price offset value sent from the electronic exchange system, via the network, to the second user terminal;
receive, after receiving the first offset information, a message transmitted from the electronic exchange system via the network to the first user terminal and the second user terminal, wherein:
(i) the message indicates a market price for a financial instrument, and
(ii) the message does not include the first price offset value or the second price offset value;

receive, via the network, information different from the message that indicates a match between orders for the financial instrument;
wherein the application, when enabled by the processor, is configured to modify the market price for the financial instrument using the first price offset value to obtain a first actual price for the financial instrument that is different from a second actual price for the financial instrument, wherein the second actual price corresponds to a modification of the market price for the financial instrument based on the second price offset value; and
wherein the transceiver and the processor are configured to transmit to the electronic exchange system, via the network, information including an order with the first actual price for the financial instrument.