Patent ID: 8311930

Claim:
A method for trading automatically repriceable orders in an electronic options trading environment with market maker participation, comprising: (a) listing by a computing system having at least one processor and at least one memory a plurality of options series on a market center, wherein the market center has an order book for each option series and a quote book for each option series, and wherein a plurality of the option series have an appointed lead market maker; (b) receiving by the computing system an automatically repriceable order, retrieving by the computing system the side of the NBBO opposite the automatically repriceable order, and determining by the computing system whether the automatically repriceable order price is equal to or overlaps with the retrieved side of the NBBO; (c) responsive to determining that the automatically repriceable order price is equal to or overlaps with the retrieved side of the NBBO, determining by the computing system whether the automatically repriceable order is for an option series that has a lead market maker, and determining by the computing system whether the lead market maker has a quote at the NBBO; (d) responsive to determining that the automatically repriceable order is for an option series that has a lead market maker and the lead market maker has a quote at the NBBO, computing by the computing system an allocation percentage for the lead market maker and matching by the computing system the automatically repriceable order up to the lesser of the total size of the automatically repriceable order or the computed allocation percentage amount for the lead market maker.