Patent ID: 8484125

Claim:
An option class selection system for authorizing market participants to disseminate quotes on a trading facility for at least one option class, the option class selection system comprising: an option class selection database, the option class selection database comprising a listing of a plurality of option classes available for trading on the trading facility, wherein each option class is associated with a numeric value based on a trading parameter associated with the option class; a communication module configured for communicating with a trade engine of an exchange; and a processor in communication with the trade engine and in communication with the option class selection database, the processor configured to: receive a request to obtain rights to submit quotes in a subset of the plurality of available option classes from a market participant having a quoting privilege at the exchange, wherein the quoting privilege of the market participant is less than an amount necessary to obtain rights to submit quotes in all available option classes; calculate a total of the numeric values associated with the option classes in the subset; determine if the total of the numeric values is less than or equal to a value of the quoting privilege associated with the market participant; and authorize the market participant to submit quotes in the subset if the total of the numeric values is less than or equal to the value of the quoting privilege.