Patent ID: 7526443

Claim:
A system for negotiating the price of a traded security, comprising: a computer providing a trading interface and a message from a dealer with bid and/or offer terms for the security; and a data center enabled to communicate the security, and bid and/or offer terms therefor, to investors in a market, wherein the data center is enabled to receive a firm offer or an indication of interest for the security from a particular investor in the market, wherein the firm offer signals an intention to trade immediately by the particular investor; wherein the data center is enabled to communicate a message to the particular investor indicating whether the dealer accepts or rejects the firm offer, and enforcing limits on negotiation in response to the submitted inquiry, wherein the data center is enabled to receive a plurality of the available inventory from the plurality of dealers for display to and access by the plurality of investors; wherein the data center is enabled to display to the plurality of investors an available inventory of security issues on a standardized and sortable manner that are being offered or bid on by the plurality of dealers in a secondary resale market; wherein the data center is enabled to allow a plurality of dealers to provide a bid in response to the indication of interest, wherein the data center is enabled to store a bid from each of the plurality of dealers to the investor at substantially the same time, and wherein the data center is enabled to allow the investor to accept, reject, or provide a counter-offer to at least one bid.