Patent ID: 8326743

Claim:
An exchange system for processing electronic orders, the exchange system comprising: a memory for storing information regarding a BUY order and a Sell order for a financial product; a processor in communication with the memory and arranged to facilitate a trade of the financial product, the processor configured to: access the BUY order and the SELL order for the financial product, wherein the BUY order and the SELL order each have a size and price, the size of the SELL order is greater than or equal to the size of the BUY order, and the price of the SELL order is less than or equal to the price of the BUY order; determine that one or more away market SELL orders, for the financial product, exist that have an away market price that is less than the price of the SELL order; create a first electronic order, wherein the first electronic order is an order to buy a first quantity of the financial product, wherein the first quantity is less than the size of the BUY order; transmit the first electronic order to an away market for execution against an away market SELL order; create a second electronic order, wherein the second electronic order is an order to buy a second quantity of the financial product, wherein the second quantity is calculated by subtracting the first quantity from the size of the BUY order; create a third electronic order, wherein the third electronic order is an order to sell a third quantity of the financial product, wherein the third quantity is equal to or less than the size of the SELL order; and transmit the second electronic order and the third electronic order to a market for execution.