Patent ID: 8306902

Claim:
A computer implemented method for electronically trading derivative instruments comprising: receiving, by a network computer, an indicative quote data set for a plurality of derivative instruments from at least one market maker computer of a plurality of market maker computers, the indicative quote data set operative to enable the network computer to generate non-binding quotes based thereon on behalf of the at least one market maker computer; receiving, by the network computer, a request for a non-binding quote for at least one of the plurality of derivative instruments from at least one of a market maker computer or subscriber computer over a communications network; generating, by the network computer on behalf of the at least one market maker computer from which the indicative quote data set was received, a non-binding quote based on the indicative quote data set; transmitting, by the network computer, the generated non-binding quote to the at least one of the market maker computer or subscriber computer over the communications network from which the request for the non-binding quote was received; receiving, by the network computer, a request for binding quote for the at least one derivative instrument from at least one of the at least one of the market maker computer or subscriber computer over the communications network; transmitting, by the network computer, the request for binding quote over the communications network to at least one of the plurality of market maker computers; receiving, by the network computer, a binding quote from the at least one of the plurality of market maker computers to which the request for binding quote was transmitted by the network computer in response to the transmitted request for binding quote; and transmitting, by the network computer, the binding quote to the at least one of the market maker computer or subscriber computer from which the request for binding quote was received.