Patent ID: 7685048

Claim:
A trading system for trading forwards between parties, the system comprising: at least one trade execution computer capable of executing forwards trades from forwards orders in the trading system, the at least one trade execution computer communicating with a plurality of user stations over a communications network; and a computer readable medium which stores computer programming executed by the at least one trade execution computer to cause the at least one trade execution computer to carry out a method for executing a forwards spread trade from the forwards orders in the trading system comprising a first leg forwards trade and a second leg forwards trade, and a price spread comprising the difference between prices of the first and second leg forwards trades, the at least one trade execution computer at least: automatically generating from the forwards orders in the trading system one of (a) a forwards spread order including a spread price representing a difference between prices of potential first and second leg forwards trades and (b) an order relating to one of the first and second leg forwards trades and a forwards spread order; the automatically-generated order not being initiated by a user station; providing the automatically-generated order to the user stations; and in response to a request from a user station to execute the automatically-generated order, executing the forwards spread trade including executing the first leg forwards trade at the first price and the second leg forwards trade at the second price, thereby providing the price spread between the first and second prices of the first leg and second leg forwards trades, respectively.