Patent ID: 7873561
Filing Date: 2011-01-18
Classification: G06Q

Abstract:
1. A method implemented at least partially in a computing system, the method comprising: providing an electronic posting market center having an internal order book, a public order book, and a maximum price exemption parameter, wherein the maximum price exemption parameter is the price difference between a price at a better-priced market center and a price the electronic posting market center is allowed to trade a financial instrument; receiving by the computing system a market center-restricted buy order specifying the financial instrument, a price, and that it will only execute on the electronic posting market center; retrieving by the computing system a best away market offer price in the specified financial instrument, wherein the best away market offer price is the lowest offer price for the specified financial instrument on one or more away market centers; computing by the computing system a maximum valid buy order price by adding the maximum price exemption to the best away market offer price; determining by the computing system whether the market center-restricted buy order is a valid buy order by comparing the price of the market center-restricted buy order to the maximum valid buy order price, wherein the market center-restricted buy order is a valid buy order if its price is less than or equal to the maximum valid buy order price; responsive to determining that the market center-restricted buy order is a valid buy order, determining by the computing system whether the away market best offer price is higher than the price of the market center-restricted buy order; and responsive to determining that the away market best offer price is not higher than the price of the market restricted buy order: