Patent ID: 7729967

Claim:
A method of trading items on an electronic trading system, the method comprising: receiving in the electronic trading system an only-at-best bid to purchase an instrument, the only-at-best bid being received from a bidder, the only-at-best bid comprising a bid price, in which: the electronic trading system comprises a server configured to receive a plurality of bids and offers from a plurality of trading participants, the plurality of trading participants comprising the bidder and at least two trading participants different from the bidder, and the plurality of bids and offers being entered into a plurality of user workstations in electronic communication with the server; determining by the electronic trading system that the bid price is higher than a lowest offer price of a lowest offer to sell the instrument in the electronic trading system, the lowest offer being contra to the only-at-best bid; determining by the electronic trading system that, at a time when the only-at-best bid is received by the server, at least two other trading participants are engaged in an active trading session for the instrument at the lowest offer price, the lowest offer price being lower than the bid price; and responsive to the act of determining that the bid price is higher than the lowest offer price of the lowest offer in the electronic trading system and the act of determining that, at a time when the only-at-best bid is received by the server, the at least two trading participants are engaged in an active trading session for the instrument at the lowest offer price, queuing by the electronic trading system the only-at-best bid to trade at the lowest offer price of the lowest offer.