Patent ID: 8311920
Filing Date: 2012-11-13
Classification: G06Q

Abstract:
1. A computer-implemented method comprising: accessing, by at least one computer, at least one message reflecting open orders from an order management system, wherein the order management system is associated with a trading firm and wherein the order management system is coupled to at least one workstation utilized by the trading firm, wherein the order management system comprises at least the following fields: generating, by at least one computer, non-binding indications from the accessed messages reflecting orders that are suitable for transmission to at least one electronic marketplace, each such non-binding indication comprising security name, symbol or identifier, the transaction type, and an available quantity, such available quantity being determined by the accessed messages; sending the suitable non-binding indications to the at least one electronic marketplace; determining that at least one subsequently accessed message reflects a change of order in the order management system and, in response to such determining, subsequently generating, for the changed order, at least one updated non-binding indication; subsequently sending the updated nonbinding indication to the at least one electronic marketplace; receiving, by the at least one electronic marketplace, the updated nonbinding indication reflecting orders, in which the open orders include at least one first order; receiving, by the at least one electronic marketplace, at least one second order; determining, by the at least one electronic marketplace, that the second order matches the at least one first order; in response to determining that the second order matches the at least one first order, transmitting, from the electronic marketplace to the trading firm, a request for acceptance of a trade fulfilling at least part of the first order and at least part of the second order; receiving, by the electronic marketplace, the acceptance by the trading firm; in response to receiving the acceptance, facilitating execution of the trade by the electronic marketplace; preventing, by the electronic marketplace, a negotiation between the trading firm and an originator of the second order regarding the trade until after the execution; suppressing, by the electronic marketplace, evidence of the determination that the second order matches the at least one first order; and suppressing, by the electronic marketplace, evidence of the acceptance until after the execution.