Patent ID: 7386497
Filing Date: 2008-06-10
Classification: G06Q

Abstract:
1. A method for trading an instrument, comprising the steps of: providing a request for a price of the instrument from a customer to a plurality of users via a communication network, the request including request data concerning the instrument; receiving at least one response to the request from the plurality of users, the at least one response including a user price for the instrument; providing the at least one response to the customer via the communication network; determining a best price response to the request based on the at least one response, wherein the best price response is a best one of the at least one response received from the users; providing a first indication to the user who provided the best price response, the first indication indicating that the response is the best price response; and providing a second indication to the users who did not provide the best price response, the second indication indicating that the response is not the best price response, the first and second indications being different from one another; wherein the users, taking into account whether the first indication or the second indication is provided, adjust or cancel a corresponding response at any time before the customer accepts the best price response, wherein the request is for one of a bid to buy the instrument and an offer to sell the instrument, wherein the first indication is not an acceptance, and the second indication is not a rejection, and the second indication does not indicate what the best bid is so that users receiving the second indication do not know the best bid.