Patent ID: 7689495
Filing Date: 2010-03-30
Classification: G06Q

Abstract:
1. A method for electronically conducting trades in securities, the method comprising: electronically transmitting from a computerized volume-weighted-average price (VWAP) processing system, to a trading computer that comprises at least one processor, at least one input device that is operatively coupled to at least one of the processors, and at least one output device that is operatively coupled to at least one of the processors, order information that comprises information corresponding to a plurality of buy and sell orders that can be matched with each other for trading, each of the orders being either an order to buy a security at a VWAP or to sell the security at a VWAP; in response to receipt of the order information by the trading computer, causing the order information to be displayed on at least one of the output devices in a manner that comprises displaying individually all of the orders at a single time; matching, by a rules processor within the VWAP processing system, of at least two of the displayed orders with each other for trading, at least one of the matched orders being a buy order and at least one of the matched orders being a sell order; pricing, by a VWAP calculator within the VWAP processing system, the matched orders at a VWAP, the VWAP being a weighted average of a plurality of prices of a plurality of respective trades that have been executed prior to the calculation of the VWAP; and executing the matched orders by trading the matched orders against each other at the VWAP.