Patent ID: 8401958
Filing Date: 2013-03-19
Classification: G06Q

Abstract:
1. A method of pricing shares of stock traded between anonymous parties without requiring pricing negotiations between the parties, the method comprising: (a) matching, via an electronic trading system, a first party and a second party in response to receiving contra binding orders for a security from the parties; (b) transmitting, to each of the parties, an indication of the matching; (c) receiving, via an electronic trading system, a first trade confirmation from the first party; (d) determining, for the security, a midpoint of a price spread at the time the first trade confirmation was entered; (e) receiving, via the electronic trading system, a second trade confirmation for the security from the second party; and (f) executing, via the electronic trading system, a transaction for the security between the first and second parties, wherein the security price is determined in response to the determined midpoint.