Patent ID: 7454382

Claim:
A method for sending an order to an electronic exchange, the method comprising: receiving a command representing an order request that comprises an order to buy or sell a quantity of a tradeable object at a particular price; temporarily holding the order request in a memory unit such that the order request is not sent to a matching engine at the electronic exchange; receiving market data comprising quantity and price information relating to the tradeable object being traded at the electronic exchange; and using the market data to determine a rate of trades at one or more prices occurring at the electronic exchange; comparing the rate of trades to a preset rate of trades; releasing the order request to the matching engine at the electronic exchange when the rate of trades exceeds the preset rate of trades; determining if at least a portion of the quantity of the order remains in an electronic order book at the electronic exchange for a preset time period; and responsive to determining if said portion of the quantity remains in the electronic order book, sending a request to delete the remaining quantity of the order.