Patent ID: 7693763

Claim:
A computer process for performing step-out payments on a securities trading system, comprising a trader system, an executing broker system, and a research broker, the computer process comprising: establishing a digital computer connection within said securities trading system, between said trader system and said executing broker system operably configured to intercept data; intercepting digital data over said digital computer connection, said data related to trade execution, comprising orders and executions, communicated between the executing broker system and the trader system; communicating said digital data to a step-out calculation module within said securities trading system; processing said digital data through said step-out calculation module that calculates step-out information; segregating step-out payments within said step-out calculation module due to said research broker from payments due to an executing broker; presenting said step-out information to said trader system; making said step-out payments automatically from said securities trading system to said research broker without providing information related to trade execution to said research broker; and notifying said research broker from the securities trading system that said step-out payment is stepped-out.