Patent ID: 8082205

Claim:
A computer-implemented method comprising: accessing, by at least one computer, at least one message reflecting open orders from an order management system, wherein the order management system is associated with a trading firm and wherein the order management system is coupled to at least one workstation utilized by the trading firm, wherein the order management system comprises at least the following fields: (a) a security name, symbol or identifier, (b) transaction type, (c) total order size, (d) quantity of the security placed elsewhere, and (e) quantity of the security executed; generating, by at least one computer, non-binding indications from the accessed messages reflecting orders that are suitable for transmission to at least one electronic marketplace, each such non-binding indication comprising security name, symbol or identifier, the transaction type, and an available quantity, such available quantity being determined by the accessed messages; sending the suitable non-binding indications to the at least one electronic marketplace; determining that at least one subsequently accessed message reflects a change of order in the order management system and, in response to such determining, subsequently generating, for the changed order, at least one updated non-binding indication; subsequently sending the updated non-binding indication to the at least one electronic marketplace; receiving, by the electronic marketplace, the updated non-binding indication, in which the open orders includes a first order; determining, by the electronic marketplace, that no currently active matching counter order for the first order is accessible by the electronic marketplace; and determining, by the electronic marketplace, that the first order is for an underlying financial instrument that has been historically illiquid; in response to determining that no currently active matching counter order is accessible, determining, by the electronic marketplace, that a previously active matching counter order to the first order existed; and querying, by the electronic marketplace, a party related to the previously active matching counter order to find a counter party for a trade fulfilling at least part of the first order.