INTERPROGRAM COMMUNICATION USING MESSAGES RELATED TO GROUPS OF ORDERS
First Claim
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1. A system using interprogram communication, the system comprising:
- a first processor configured to execute a first program, the first program configured to;
receive a first message indicating a first order, in which the first order defines a side of a first trade for a first financial instrument,receive a second message indicating a second order, in which the second order defines a side of a second trade for a second financial instrument,determine that an order management system of a participant includes a third order that defines an opposite side of the second trade for the second financial instrument,transmit a first message to a second program requesting an acceptance to enter into the first trade and the second trade,receive a second message indicating the acceptance, andin response to receiving the second message, facilitate execution of the first trade and the second trade; and
a second processor configured to execute the second program, the second program configured to;
receive the first message from the first program,in response to receiving the first message, provide n request for the acceptance to an operator of a computer,receive an indication of a positive response from the operator, andin response to receiving the positive response, transmit the second message to the first program.
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Abstract
A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described.
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Citations
25 Claims
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1. A system using interprogram communication, the system comprising:
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a first processor configured to execute a first program, the first program configured to; receive a first message indicating a first order, in which the first order defines a side of a first trade for a first financial instrument, receive a second message indicating a second order, in which the second order defines a side of a second trade for a second financial instrument, determine that an order management system of a participant includes a third order that defines an opposite side of the second trade for the second financial instrument, transmit a first message to a second program requesting an acceptance to enter into the first trade and the second trade, receive a second message indicating the acceptance, and in response to receiving the second message, facilitate execution of the first trade and the second trade; and a second processor configured to execute the second program, the second program configured to; receive the first message from the first program, in response to receiving the first message, provide n request for the acceptance to an operator of a computer, receive an indication of a positive response from the operator, and in response to receiving the positive response, transmit the second message to the first program.
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2. A trading system comprising:
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a processor configured to; receive an indication of a first order from a remote system, in which the first order defines a side of a first trade for a first financial instrument; receive an indication of a second order from the remote system, in which the second order defines a side of a second trade for a second financial instrument; determine that an order management system of a participant includes a third order that defines an opposite side of the second trade for the second financial instrument; transmit a request for a acceptance to enter into the first trade and the second trade to the participant; receive an indication of the acceptance; and in response to receiving the indication of the acceptance, facilitate execution of the first trade and the second trade. - View Dependent Claims (3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A trading system comprising:
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a processor configured to; receive an indication of a first order from a remote system, in which the first order defines a side of a first trade for a first financial instrument; receive an indication of a second order from the remote system, in which the second order defines a side of a second trade for a second financial instrument; receive an indication of a firm order from a participant, in which the firm order defines an opposite side of the second trade for the second financial instrument; determine that the second order and the firm order match; in response to the determination, transmit a request for a acceptance of the first order to the participant; receive an indication of the acceptance from the participant; and in response to receiving the indication of the acceptance, facilitate execution of the first trade and the second trade. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25)
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Specification