Patent ID: 7363269

Claim:
A conversational dealing system for trading instruments between counterparties, comprising a plurality of trader terminals, the trader terminals communicating with each other via a communications network, each trader terminal having: (a) a user interface for inputting and displaying to the trader deal related information, each trader terminal user interface comprising: (i) a deal stack holding a plurality of deals in which the trader is participating, the deal stack including status of each deal and a deal description, each deal having a plurality of statuses after initiation and before completion of the deal; and (ii) means for entering conversational deal related information; and (b) a parser for parsing the conversational deal related information to detect a change in or an intention to change deal status; and for notifying the deal stack of the change in deal status; whereby on receipt of a changed deal status notification, the deal stack generates a deal string appropriate to the changed deal status, wherein information looked for by the parser during parsing is determined in accordance with a current deal status.