Patent ID: 8271366

Claim:
A compliance system for electronic trading of tradable assets, said system comprising: a remote compliance services server configured: (a) to perform, in response to a compliance check request from a trade desktop terminal, a compliance check of a proposed trade order wherein performing the compliance check comprises: determining whether the proposed trade order complies with trading rules of an account associated with the proposed trade order, and transmitting a response message to the trade desktop terminal indicating whether the proposed trade order complies with the trading rules, and (b) to provide a package of compliance verification data to the trade desktop terminal for local compliance verification, wherein the providing comprises: identifying securities that cannot be traded in accordance with the trading rules, generating the package of compliance verification data such that the package includes a list of securities that cannot be traded in accordance with the trading rules, and transmitting the package of compliance verification data to the trade desktop terminal via an electronic data network; a local compliance checking module configured to operate on the trade desktop terminal, wherein the compliance checking module is configured to: receive the package of compliance verification data from the remote compliance services server over the electronic data network, store the package of compliance verification data locally, determine whether a compliance check can be performed for the proposed order based on the locally stored package of compliance verification data, and if the compliance check can be performed locally, to perform the compliance check locally based on the locally stored package of compliance verification data, and if not, to request a compliance check for the proposed trade order from the remote compliance services server.