Patent ID: 8301547

Claim:
A Computer apparatus configured to process transactions in fungible assets on behalf of account holders on a client controlled, order by order basis, via account controlled and configured private books of business and public books, and to proactively route public orders to external venues based on analysis of account-specific best execution configurations including venue cost assignments and account-specific venue routing parameters, the apparatus being provided with a matching engine including an internalised matching utility for conducting transactions on account defined private books of business, in addition to public books of business, the computer apparatus comprising: operation files comprising configuration information including account holder rules and preferences, and wherein said rules comprise definitions of private book relationships defined in terms of eligible private book counterparties per account holder identity; an operation file configuration interface configured to establish private book relationships and define deal criteria applying between eligible private book counterparties; a volatile memory configured for receiving and holding in-memory book of business data, including private book data, market data from external venues, and other relevant data based on information in orders; a matching engine comprising an internalised matching utility processor configured to parse the private book data in the volatile memory according to account holder rules and preferences.