Patent ID: 7966244

Claim:
A method for use in electronic trading, in which an electronic exchange administers trading for a tradeable object having an inside market with a highest bid price and a lowest ask price, the method comprising: receiving a plurality of quantity levels for trading a tradeable object via a trading device; receiving a data feed originating from an electronic exchange via the trading device, the data feed having current market information for the tradeable object; computing an effective ask price and an effective bid price for each of the plurality of quantity levels via the trading device, wherein the effective ask price and the effective bid price for a corresponding quantity level of the plurality of quantity levels are computed based on at least the corresponding quantity level and the current market information for the tradeable object, including an inside market for the tradeable object; generating a price axis on a display associated with the trading device, the price axis having a plurality of consecutive price levels for the tradeable object; generating a highest bid indicator at a highest bid location of the price axis corresponding to the highest bid price, a lowest ask indicator at a lowest ask location of the price axis corresponding to the lowest ask price, and an outside order indicator at an outside location of the price axis corresponding to at least one order for the tradeable object available outside of the inside market via the trading device; generating an effective bid price indicator for each effective bid price on the display, each effective bid price being displayed at an effective bid price location along the price axis that corresponds to the effective bid price; generating an effective ask price indicator for each effective ask price on the display, each effective ask price being displayed at an effective ask price location along the price axis that corresponds to the effective ask price; generating a spread indicator for each quantity level, the spread indicator being generated between the effective bid price and the effective ask price for a corresponding quantity level of the plurality of quantity levels; receiving a user command via a user input device associated with the trading device to select one of the plurality of consecutive price levels; and in response to the user command, sending an order for the tradeable object to the electronic exchange having a price corresponding to the selected one of the plurality of price levels.