Patent ID: 7949596

Claim:
A method for enhancing quote and order integration, comprising: (a) listing by a computing system having at least one processor and at least one memory a plurality of options series on a market center, wherein the market center has an order book for each option series, has a market maker quote book for each option series, and receives a top-of-book best bid and offer disseminated quotation from a plurality of market centers for each option series, and wherein the order book, the market maker quote book, and the best bid and offer quotations are separate until an execution opportunity is presented; (b) receiving by the computing system an away market best quote for a specified option series on the market center; (c) analyzing by the computing system the received quote to determine whether the quote touches the price of an order on the opposite side of the order book; (d) responsive to determining that the quote touches the price of an order on the opposite side of the order book: (d)(i) generating by the computing system a system alert; (d)(ii) responsive to the system alert, retrieving by the computing system the order book, the market maker quote book and the top-of-book best bid and offer disseminated quotations for the specified option series; (d)(iii) simultaneously reviewing by the computing system the retrieved order book, the retrieved market maker quote book and the retrieved top-of-book best bid and offer disseminated quotations to determine if at least one order on the retrieved order book can execute against the received best quote; (d)(iv)(a) responsive to determining that a retrieved order can execute against the received best quote, first attempting to execute by the computing system the order against the order book and against the market maker quote book before routing by the computing system to the received best quote.