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DEAL MATCHING IN AN ANONYMOUS TRADING SYSTEM

  • US 20100268636A1
  • Filed: 06/29/2010
  • Published: 10/21/2010
  • Est. Priority Date: 06/23/2000
  • Status: Active Grant
First Claim
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1. A computer trading system for trading instruments comprising:

  • a first broker node, a second broker node and at least one intermediate matching node connected between the first and second broker nodes, each broker node performing a broking function and the nodes together comprising a distributed network; and

    a plurality of trader terminals connected to the distributed network; and

    wherein each of the nodes comprises;

    a store of orders available for trading; and

    a matching facility for matching compatible orders submitted by each of the plurality of trading agents,wherein the intermediate matching node further includes;

    means for intercepting a message requesting a deal which has been transmitted from the first broker node to the second broker node;

    means for detecting that the deal proposed by the first broker node will fail; and

    means for proposing an alternative match with a quote from the store of orders available for trading.

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