Patent ID: 7341455

Claim:
A method comprising: assigning an amount of a simulated fixed income product to at least a first trader in a closed exchange, the closed exchange operating over a period of time simulating a real-time market for the simulated fixed income product; assigning an amount of simulated funds to at least a second trader in the closed exchange; receiving at least one order for the simulated fixed income product from one of the first trader and the second trader, wherein the first and the second traders are in communication with each other over a computer network; causing an interface screen to be displayed at least one workstation associated with a trader, the interface screen comprising at least one item of information from the simulated market and at least one item of information from an actual market; receiving at least one counter order for the simulated fixed income product from the other of the one of the first trader and the second trader; and executing at least one trade between the first trader and the second trader for the simulated fixed income product at a price specified by at least one of the traders and for an amount of simulated funds determined based on the price, wherein the price of the at least one executed trade reflects a market price for the simulated fixed income product in the simulated market.