Patent ID: 8682777
Filing Date: 2014-03-25
Classification: G06Q

Abstract:
1. A computer-based dealer-to-dealer trading method for trading a plurality of different types of bond instruments among a plurality of traders via a computer trading platform, the method comprising: receiving, by the computer trading platform, an order from a first trader using a first computer for a bond instrument, wherein the computer trading platform comprises a server and a database; storing, by the computer trading platform, the order in the database; transmitting, by the computer trading platform, the order to a second computer of a second trader and a third computer of a third trader; displaying, by the computer trading platform, the order on a live order screen of at least one of the first computer and the second computer; displaying, by the computer trading platform on the live order screen of at least one of the first computer and the second computer, information about a market and the order comprising: a market depth of the order, at least one of a graph view of a current day's bids, offers, and trades for the bond instrument and a historical view of past orders and trades for the bond instrument, bond instrument ticker information, and bond instrument attributes, wherein the graph view comprises a plurality of data points each representing a bid, an offer, or a trade for the bond instrument, the bid data points being displayed with a first visual characteristic, the offer data points being displayed with a second visual characteristic, the trade data points being displayed with a third visual characteristic, the first, second, and third visual characteristics being different from each other; matching, by the computer trading platform, the order using price and time priority with a first bid/offer submitted by the second trader using the second computer and a second bid/offer submitted by the third trader using the third computer, wherein the first bid/offer of the second trader has higher priority to trade over the second bid/offer of the third trader responsive to the price and time priority; determining, by the computer trading platform, whether to initiate a workup period for the workup orders between the first trader and the second trader responsive to triggering of predetermined workup conditions, wherein the workup conditions include size of the order, price of the order, size of the first bid/offer, price of the first bid/offer, or any combination thereof; initiating, by the computer trading platform, the workup period between the first trader and the second trader by transmitting a workup initiating transaction via the platform to the computers associated with the first and second traders; enabling, by the computer trading platform, the first trader and the second trader to modify the matched order and order parameters between the first trader and the second trader prior to an expiration of the workup period; providing, by the computer trading platform, an indicator to the first trader that at least part of a total size of the workup orders on an opposite side of the market belongs to the second trader; providing, by the computer trading platform, an indicator to the second trader that at least part of the total size of the workup orders on the opposite side of the market belongs to the first trader; terminating, by the computer trading platform, the workup period; and when the workup period is terminated: executing, by the computer trading platform, a trade of the bond instrument between the first trader and the second trader according to order parameters existing prior to initiation of the workup period; if a full size of the second trader's bid/offer is satisfied and the size of the order is not exhausted by the trade between the first trader and the second trader, executing, by the computer trading platform, a trade between the first trader and the third trader according to order parameters existing prior to initiation of the workup period; and if a full size of the third trader's bid/offer is satisfied and the size of the order is not exhausted by prior trades, executing, by the computer trading platform, an additional trade between the first trader and the second trader according to order parameters modified during the workup period.