Patent ID: 7774263

Claim:
A system for trading securities comprising: an interface adapted to receive first and second orders, wherein each of the first and second orders includes an order handling instruction; a processor connected with the interface; and a memory connected with the processor for storing processing instructions, wherein the processor executes processing instructions to perform a first process for matching the first and second orders at a predetermined price against previously received orders stored in a hidden reserve book, wherein the orders remain hidden while they are matched; the processor executes processing instructions to perform a second process for trading orders on a displayed market; and the processor executes processing instructions to perform a third process for exposing the second order received by the interface to the first process and, if the second order is not completely matched, exposing the second order to the displayed market of the second process, wherein, the first order includes an instruction to match the first order only with other orders stored on the hidden reserve book.