Patent ID: 8595120

Claim:
A system for providing a market on-close (MOC) operation for a secondary market for tradeable assets listed on a given primary listing market, comprising: one or more computers of the secondary market, configured with the following components: an electronic network communication component for transmitting and receiving electronic communications over one or more electronic networks; a component, configured in the one or more computers of the secondary market, to receive by the one or more computers of the secondary market buy orders and sell orders for tradeable assets listed for auction on the given primary listing market to be bought or sold on the secondary market only at an official close price from the primary listing market for the tradeable asset, with each of a plurality of the orders including a quantity parameter, but not a required price, and including an MOC order indicator; a component configured in the one or more computers of the secondary market to match, in whole or in part, a respective MOC buy order to a respective MOC sell order or vice versa for a given one of the tradeable assets to obtain a respective partial or whole quantity match of the order only at an official close price obtained for the given primary listing market for the given tradeable asset; a component configured in the one or more computers of the secondary market to obtain via the electronic network communication component the official close price for the given tradeable asset in the given primary listing market; a component configured in the one or more computers of the secondary market to generate one or more electronic signals to cause execution of the quantity match of the order in the secondary market at the official close price from the primary listing market after receiving the official close price from the primary listing market for the given tradeable asset; a component configured in the one or more computers of the secondary market to transmit or post via the electronic network communication component a partial or whole fill message of their respective orders to the respective buyer and the respective seller with the quantity matched and the official close price from the primary listing market for the tradeable asset; and a component configured in the one or more computers of the secondary market to access an electronic database, configured to store the received buy orders and sell orders for the tradeable assets.