Patent ID: 7711633
Filing Date: 2010-05-04
Classification: G06Q

Abstract:
1. A method, comprising: receiving, by a processor of computing device, a first order for an instrument, and a first indicator, from a first computer system, wherein the first indicator indicates that the first order is one of a real order or a test order, wherein the first order is a test order, and wherein the first order specifies a first quantity of the instrument and a first price; receiving, by the processor, a second order for the instrument from a second computer system, wherein the second order is a real order, and wherein the second order specifies a second quantity of the instrument and a second price; matching, by the processor, the first order with at least the second order based at least in part on the first price of the first order and the second price of the second order; determining, by the processor, based at least in part on the first indicator, whether the first order is a test order or a real order, wherein determining whether the first order is a test order or a real order comprises: determining, by the processor, whether the second order is a test order or a real order, wherein determining whether the second order is a test order or a real order comprises: based at least in part on matching the first order with the second order, executing, by the processor, the first order, wherein executing the first order comprises: wherein even though the first order and the second order are matched, the first order and the second order are not transacted such that an originator of the first order and an originator of the second order are not bound to tender money or the instrument; and receiving, by the processor, a third order for the instrument from a third computer system, wherein the third order is a real order, and wherein the third order specifies a third quantity of the instrument and a third price, and wherein the third order comprises an offer order, receiving, by the processor, a fourth order for the instrument from a fourth computer system, wherein the fourth order is a test order, wherein the fourth order specifies a fourth quantity of the instrument and a fourth price, wherein the fourth order comprises a bid order, and wherein the fourth price is greater than or equal to the third price but does not exceed the third price plus the predetermined amount; and indicating, by the processor, to an originator of the fourth order that the third order has the locking preference by failing to match the fourth order to the third order and by failing to execute the fourth order.