Patent ID: 7505915
Filing Date: 2009-03-17
Classification: G06Q,Y10T

Abstract:
1. A method of conducting a transaction for a trading instrument between counterparties via a negotiated matching system comprising a matching computer and a communication network in communication with the matching computer and in communication with trading terminals, the method comprising: receiving at the matching computer via the communication network first trading parameters for a trading instrument from a first trader via a first trading terminal, the first trading parameters comprising at least a first price for the trading instrument; receiving at the matching computer via the communication network first trading parameters for the trading instrument from a second trader via a second trading terminal, the first trading parameters from the second trader comprising at least a second price for the trading instrument; matching, via the matching computer, the first trading parameters from the first and second traders to identify the first trader and the second trader as potential counterparties for a tentative trading transaction, the matching occurring anonymously with respect to the potential counterparties; after the step of matching, notifying the counterparties of the tentative trading transaction via the communication network, the step of notifying including automatically revealing to the counterparties the identity of the counterparties so that they may negotiate outstanding terms of the tentative trading transaction; enabling electronic communication between the counterparties to negotiate at least a second trading parameter of the tentative trading transaction; receiving via the communication network information indicating agreement between the counterparties of all trading parameters of the tentative trading transaction; and after the step of receiving information, completing the transaction between the counterparties.