Patent ID: 7853517

Claim:
A method, comprising: receiving, by a processor of computing device, a first order for an instrument, and a first indicator, from a first computer system, wherein the first indicator indicates that the first order is one of a real order or a test order, wherein the first order is a test order, and wherein the first order specifies a first quantity of the instrument and a first price; receiving, by the processor, a second order for the instrument from a second computer system, wherein the second order is a real order, and wherein the second order specifies a second quantity of the instrument and a second price; wherein a test order cannot bind an originator of the test order to tender money or the instrument as specified in the test order; matching, by the processor, the first order with at least the second order; determining, by the processor, based at least in part on the first indicator, whether the first order is a test order or a real order, wherein determining whether the first order is a test order or a real order comprises: determining, by the processor, that the first order is a test order; determining, by the processor, whether the second order is a test order or a real order, wherein determining whether the second order is a test order or a real order comprises: determining, by the processor, that the second order is a real order; based at least in part on matching the first order with the second order, executing, by the processor, the first order, wherein executing the first order comprises: reducing, by the processor, the first quantity of the instrument associated with the first order; and receiving, by the processor, a third order for the instrument from a third computer system, wherein the third order is a real order, and wherein the third order specifies a third quantity of the instrument and a third price, and wherein the third order comprises an offer order, wherein the third order has a locking preference that provides that the third order will only trade with a corresponding bid order that specifies a price that exceeds the third price by a predetermined amount specified in the locking preference of the third order.