Patent ID: 7818248

Claim:
A system for trading derivatives, the system comprising: a network; at least one network managing station coupled with the network and operative to facilitate communications between at least one subscriber station and at least one market maker station such that any of the at least one subscriber station may request a continuous indicative quote from any of the at least one market maker station, the at least one network managing station being further operative to facilitate communication between any of the at least one subscriber station and any of the at least one market maker station such that the subscriber station may request a binding quote therefrom; wherein the at least one market maker station is coupled with the network and operative to receive a request for a continuous indicative quote via the network for at least one product transmitted by one of at least one subscriber station, determine an indicative quote associated with the at least one product and provide the one of the at least one subscriber station with the indicative quote for only the at least one product via the network, the at least one market maker station being further operative to subsequently provide a subsequent indicative quote for only the at least one product via the network to the one of the at least one subscriber station superceding a previously provided indicative quote, the at least one market maker station being further operative to receive a request for a binding quote via the network for the at least one product transmitted by the one of the at least one subscriber station, determine a binding quote associated with the at least one product and respond to the one of the at least one subscriber station with the binding quote for only the at least one product via the network; and wherein the at least one subscriber station is coupled with the network and operative to transmit the request for an indicative quote for the at least one product to the at least one market maker station via the network, the at least one subscriber station being further operative to transmit the request for a binding quote for the at least one product to the one market maker station via the network.