Patent ID: 7606763

Claim:
A computer-implemented method of improving liquidity in a securities auction, comprising: storing, by a processor and in a storage device, a plurality of predetermined covers that each has a plurality of options; providing, by the processor, a user interactive computer interface, via which at least one of the plurality of covers is selectable, each cover being referenceable multiple times for selection from the storage device for a plurality of auctions, the selection of the cover being dependent upon the type of security of the auction; selecting the at least one cover; calculating, by the processor, a fair value price for each option in the selected at least one of the plurality of covers; creating an order associated with each of the options, the order being created based on the selected at least one of the plurality of covers and the calculated fair value price; submitting the orders during the auction via a computer; receiving, by the processor, a feed of data identifying current orders in said auction; analyzing, by the processor, each of said current orders to identify an order which, if submitted, will cause, compared to the others of said orders, a largest predefined economic effect, wherein, for each of said current orders, the economic effect of the respective order is calculated as a ratio of a change in a sum of the premium of all the current orders in the auction, divided by the premium of the respective order; providing a user interface for entering parameters of a potential order; calculating, by the processor, a list of possible orders for the potential order that match the entered parameters, the possible orders having characteristic information; and displaying the characteristic information to the user; wherein: the at least one cover is at least one of a fundamental cover, a vanilla cover, and a digital cover; and the data identifying current orders in said auction includes at least one of an order identifier, a specification as a buy, a specification as a sell, an amount, a type of order, a limit amount, a strike price, a volume, and a premium.