Patent ID: 8494951

Claim:
An apparatus, comprising: a memory; a processor communicatively coupled to the memory and programmed to: receive, from a first trader, a first trading order for a particular trading product, wherein the first trading order comprises a display portion and a reserve portion; receive, from a second trader after the first trading order, a second trading order for the particular trading product, wherein the second trading order comprises a display portion and a reserve portion; detect receipt from a counterparty trader of a counterorder for the trading product; fill the display portions of the first and second trading orders using the counterorder; after filling the display portions of the first and second trading orders, determine that there is a remaining portion of the counterorder; exclusively offer a first part of the remaining portion of the counterorder to the first trader for an exclusive offer period of time; and if the first trader accepts the first part of the remaining portion of the counterorder during the exclusive offer period of time, extend the exclusive offer period of time; and exclusively offer a second part of the remaining portion of the counterorder to the first trader for the extended exclusive offer period of time.