Patent ID: 8301539
Filing Date: 2012-10-30
Classification: G06Q

Abstract:
1. A system for electronically trading securities, the system comprising: a communications interface that is configured to receive orders that are electronically tradable; and a processing system that is coupled to the communications interface, the processing system including at least one processor, the processing system configured to: receive, via the communications interface, second order request, the second order request including a second order to be executed and a second execution priority parameter that is different from the first execution priority parameter; determine a second execution priority from among the plurality of redetermined execution priorities based on the second execution priority parameter, the second execution priority different than the first execution priority; execute the second order against a second plurality of contra side quotes/orders of market participants; and in accordance with the execution of the second order, determine, based on the determined second execution priority, at least one contra side quote/order of the second plurality of the contra side quotes/orders to fulfill the second order, the least one contra side quote/order being different than another at least one contra side quote/order of the second plurality of contra side quotes/orders if the first execution priority had been used in the execution of the second order.