Patent ID: 7603309
Filing Date: 2009-10-13
Classification: G06Q

Abstract:
1. A method of transmitting an order for execution of a listed options contract at at least one of a guaranteed order execution price and a guaranteed order execution timeframe offered to an investor submitting the order using a computer, the method at least one of implemented and assisted by the computer and comprising at least one of the sequential, sequence independent and non-sequential steps of: electronically receiving the order, by a first computer order routing system, from a first broker-dealer computer system; transmitting the order to be processed by the first computer order routing system to determine a presence of a first affiliate market-maker of the first broker-dealer associated with the first broker-dealer computer system with step-up capability for the listed options contract on a first options exchange implemented by a first options exchange computer system; electronically receiving by the first computer order routing system in a first communication when the first affiliate market-maker is present, and electronically transmitting a second communication instructing the first broker-dealer computer system to transmit the order to the first options exchange computer system for electronic execution in accordance with at least one of the guaranteed order execution price and the guaranteed order execution timeframe offered to the investor submitting the order; and when the first affiliate market-maker is not present, electronically transmitting by the first computer order routing system a third communication instructing a second broker-dealer computer system associated with a second broker-dealer to transmit the order for electronic execution in accordance with the at least one of the guaranteed order execution price and the guaranteed order execution timeframe offered to the investor submitting the order upon receipt of a determination by at least one of the first computer order routing system and a second computer order routing system that there is a second affiliate market-maker of the second broker-dealer with step-up capability for the listed options contract on at least one of the first options exchange implemented by the first options exchange computer system and a second options exchange implemented by a second options exchange computer system.