Patent ID: 7908205

Claim:
A method of managing orders in a securities market, comprising the steps of: (a) electronically receiving data comprising a first preferenced order, a referencing ID, and conditions thereon from a first market participant, wherein said first preferenced order is directed to said referencing ID; (b) electronically storing said received data in a database; (c) electronically receiving and storing in said database data comprising orders from other market participants, said database also containing trade behavior data regarding said other market participants; (d) searching with a first processor said database for orders placed by said other market participants that satisfy said conditions on said order from said first market participant; (e) ranking with a second processor market participants whose orders have been searched and determined to satisfy said conditions, said ranking based on a calculation of likelihood of market participants to place an order contra to said first preferenced order, said calculation based in turn on said market participant trade behavior data; and (f) sending a second preferenced order to a second market participant with a ranking corresponding to a high likelihood of placing an order contra to said first preferenced order; wherein if said second market participant accepts said second preferenced order, an attempt is made to execute said first preferenced order and said second preferenced order as a two-part trade, where either both orders execute or neither does, and wherein said first and second processors may be the same processor or distinct processors.