Patent ID: 8924277
Filing Date: 2014-12-30
Classification: G06Q

Abstract:
1. A method implemented at least partially in a programmed computer for processing a round-lot securities order on a single securities exchange, the method comprising: a) receiving by the programmed computer, an execution allocation option for a security, wherein the execution allocation option is one of three options selected from the group consisting of allocate execution to crowd only, allocate execution to book only, or allocate a percentage of execution to crowd and allocate a percentage of execution to book; b) receiving by the programmed computer, the round-lot securities order for the security, after receiving the execution allocation option; c) determining by the programmed computer, whether the securities order includes an indicator requesting automatic execution, wherein the indicator requesting automatic execution directs the single securities exchange to execute the securities order at either a best bid to buy or best offer to sell as reflected in a quote price for the security that is published by the single securities exchange and also acknowledges that the securities order will not be exposed to an auction market crowd of the single securities exchange for possible price improvement; d) if the securities order does not include the indicator requesting automatic execution, exposing the securities order to the auction market crowd of the single securities exchange for possible price improvement; e) if the securities order includes the indicator requesting automatic execution, automatically executing by the programmed computer, the securities order at the best bid to buy or best offer to sell as reflected in the published quote price for the security, without exposing the securities order for possible price improvement; and f) after automatically executing the securities order, allocating by the programmed computer, shares of the automatic execution among contra parties according to the previously received execution allocation option.