Patent ID: 7613640

Claim:
A computerised trading system for trading instruments between trading parties, comprising: a communications network for transmitting electronic messages; a plurality of trader order input terminals connected to the communications network, each for inputting orders into the system and for generating electronic orders including bid and/or offer orders and for communication to traders of order information received from other input terminals over the network; at least one broker order input terminal connected to the communications network for inputting orders into the system and for generating electronic orders including bid and/or offer orders on behalf of a selected one of a plurality of client traders and for communication to a broker of order information received from other input terminals over the network; at least one matching engine computer connected to the network for matching bid and offer orders input into the system from the order input devices and for selectively executing deals where prices are matched; and one or more market distributor computers connected to the network for distributing order information to the order input terminals, the one or more market distributor computers being responsive to the order information and the matching engine computer, and the one or more market distributor computers also distributing to the trader order input terminals an indication of the amount of the market in the instrument being traded that has been input from the at least one broker order input terminal.