Patent ID: 8069106
Filing Date: 2011-11-29
Classification: G06Q

Abstract:
1. A method for facilitating trading of securities over a computer system, comprising the steps of: electronically receiving market data including prices for a security; calculating with a first processor a reference price for said security based at least partially on said market data; electronically storing said reference price in a computer readable medium; electronically receiving a first order regarding said security from a first user, wherein said first order is a sell order that comprises a first price limit and a first quantity limit; electronically storing said first order in a computer readable medium; electronically receiving a second order regarding said security from a second user, wherein said second order is a buy order that is contra to said first order and comprises a second price limit that is less than said reference price and a second quantity limit; electronically storing said second order in a computer readable medium; comparing price aggression of said first order and said second order to said reference price; and executing with a second processor a trade comprising said first order and said second order at a trade execution price different from said reference price, wherein said trade execution price complies with said first price limit and said second price limit, and wherein said trade execution price is calculated to minimize a difference between said reference price and said trade execution price and is based on said comparing price aggression of said first order and said second order to said reference price, wherein said first and second processors may be the same processor.