Patent ID: 8131633
Filing Date: 2012-03-06
Classification: G06Q

Abstract:
1. A system for performing crossing of institutional security orders comprising: a first server connected across a communication network to at least one second server providing an away market for order execution and to a plurality of client stations; each client station having an interface configured to input orders into an order book maintained by the first server; the first server including a database, and configured to receive at least first and second institutional orders, wherein the first and second institutional orders are stored in the database, wherein the first and second institutional orders are contra orders; the first server further including operating instructions that configure the first server to determine whether matching terms exist between the first and second institutional orders, wherein the matching terms determination is based on predetermined criteria; and the operating instructions, upon determination of matching terms, further configuring the first server to forward, to the at least one second server, a child order which represents at least a portion of one of the first and second institutional orders for execution on the at least one second server in lieu of the first server in a time-priority sequence relative to any orders in at least the away market so as to provide additional orders to the away market, wherein a plurality of participants in the away market have an opportunity to execute a transaction with the child order.