Patent ID: 7865421

Claim:
A system for trading products between parties, comprising one or more computers on a network, the system including: a matching system that matches quotes submitted by counterparties for execution of trades in a product between the parties, wherein parties trading on the system each have a unique deal code to identify them to other parties on the system; means for converting a stream of prices provided from outside the system into a quote stream, the quote stream being provided to the matching system and having a unique deal code on the matching system; wherein the matching system further comprises a credit system that stores credit limits for trades between each party trading on the system and each possible counter party, and a market distributor that distributes quotes to counterparties, the market distributor distributing to a given counterparty only quotes from other counterparties with whom the given counterparty has credit, and wherein the quote stream deal code assigns credit limits for storage in the credit system such that only selected other deal codes have access to quotes in the quote stream.