Patent ID: 7899729

Claim:
A computer implemented method of executing an order for a listed options contract at at least one of a guaranteed, specified and predetermined execution price and within at least one of a guaranteed, specified and predetermined timeframe offered to the investor submitting the order using an investor computer, the method comprising at least one of implemented and assisted by the computer and at least one of the sequential, sequence independent and non-sequential steps of: electronically receiving the order initiated by the investor computer for the listed options contract by a first member computer trading system of a rapid execution consortium (REC), wherein the REC comprises a first options broker-dealer and a second options broker-dealer and said first and second broker-dealers having step-up capability for a substantial portion of all listed options classes for automated execution by at least one of the first member computer trading system associated with the first broker-dealer and a second member computer trading system associated with the second broker-dealer of the order for the listed options contract; determining by the first member computer trading system whether the first broker-dealer of the REC can execute the order received from the investor computer at the guaranteed, specified and/or predetermined execution price and timeframe offered to the investor submitting the order; and when the first member computer trading system determines that the first broker-dealer of the REC can execute the order at the guaranteed, specified and/or predetermined execution price and timeframe offered to the investor, electronically transmitting by the first member computer trading system an instruction for electronically executing the order for the investor.