Patent ID: 8078522

Claim:
A method for facilitating exchange of institutional research and trade order execution services between an asset manager and a broker, the method comprising: tracking, using a research exchange unit accounting computer processor, trade orders executed by the broker on behalf of the asset manager; crediting the asset manager with research exchange units based on the trade orders executed by the broker on behalf of the asset manager and tracking the asset manager's total research exchange units with the broker, wherein the total research exchange units are redeemable by the asset manager for research items produced by the broker; receiving from the broker a research item produced by the broker; storing the research item; receiving from the broker a research exchange unit value for the research item; receiving a selection by the asset manager of the research item; and delivering the research item to the asset manager and subtracting from the asset manager's total research exchange units an amount of research exchange units equal to the research exchange unit value for the selected research item, wherein crediting the asset manager with research exchange units based on the executed trade orders comprises crediting an amount of the research exchange units based on at least one of the number of shares in a trade order, the spread on a security of a trade order, whether or not the executing broker makes a market in a security of a trade order, whether or not a trade order requires special handling by a broker or algorithm, and whether or not a trade order requires a pass through to another executing broker.