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Anonymous trading system with improved quote input capabilities

  • US 6,282,521 B1
  • Filed: 06/15/1998
  • Issued: 08/28/2001
  • Est. Priority Date: 08/28/1995
  • Status: Expired due to Term
First Claim
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1. In a computerized trading system wherein quotes for a particular financial instrument or other commodity are selectively made available from at least one market maker only to those trading floors eligible to accept that offer:

  • for each trading floor, taker queue means for determining which of the quotes available to that trading floor are Hittable from that trading floor; and

    for each quote from each market maker, quote status means responsive to all said taker queue means for determining whether that particular quote is currently Hittable from at least a predetermined plurality of more than one and less than all of the trading floors, and notification means responsive to the quote status means for notifying that particular market maker whether that particular quote is currently Hittable from said predetermined plurality of trading floors, wherein a particular quote from a particular market maker for a particular commodity is Hittable from a particular trading floor, if a hit at the best price available to that floor for a predetermined quantity of that commodity would be automatically matched with at least some part of that quote.

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