Method for directing and executing certified trading interests
First Claim
1. A computer-implemented method of managing market information, comprising the steps of:
- (a) electronically receiving data into a computing system from a first market participant, said data comprising an order to buy or sell market securities, and further comprising conditions on similar orders on the contra side;
(b) electronically storing said data from said first market participant in said computer system;
(c) electronically transmitting first information from said computer system to one or more entities to locate orders matching said conditions, said first information comprising said conditions;
(d) electronically receiving notification into said computer system from one of said one or more entities, said notification comprising an indication that a second participant'"'"'s order matches said conditions, said second participant being said one of said one or more entities or in communication with said one of said one or more entities; and
(e) electronically transmitting from said computer system to said one of said one or more entities second information including data related to said order received from said first market participant;
wherein step (e) further comprises electronically transmitting said second information to said one of said one or more entities only on condition that said one of said one or more entities is contractually bound to use said second information only for the purpose of forwarding data related to said first participant'"'"'s order to said second participant.
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Accused Products
Abstract
Preferred embodiments of the subject invention comprise: (a) electronically receiving securities order-related data regarding a set of securities market participants; (b) electronically storing the received order-related data regarding the set of securities market participants; (c) electronically receiving a securities order-related query (or order parameters) from a first securities market participant; (d) based on the order-related query (or order parameters) received from the first securities market participant and on the securities order-related data regarding the set of securities market participants, computing a dissemination list of securities market participants based on ranking likely contras by probability of execution; and (e) transmitting that dissemination list to an entity who has been granted the privilege of receiving such lists in exchange for being contractually bound to respect confidentiality of the dissemination list and to use the list only for the purpose of sending securities-related information to members of the list.
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Citations
6 Claims
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1. A computer-implemented method of managing market information, comprising the steps of:
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(a) electronically receiving data into a computing system from a first market participant, said data comprising an order to buy or sell market securities, and further comprising conditions on similar orders on the contra side; (b) electronically storing said data from said first market participant in said computer system; (c) electronically transmitting first information from said computer system to one or more entities to locate orders matching said conditions, said first information comprising said conditions; (d) electronically receiving notification into said computer system from one of said one or more entities, said notification comprising an indication that a second participant'"'"'s order matches said conditions, said second participant being said one of said one or more entities or in communication with said one of said one or more entities; and (e) electronically transmitting from said computer system to said one of said one or more entities second information including data related to said order received from said first market participant; wherein step (e) further comprises electronically transmitting said second information to said one of said one or more entities only on condition that said one of said one or more entities is contractually bound to use said second information only for the purpose of forwarding data related to said first participant'"'"'s order to said second participant. - View Dependent Claims (2)
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3. A computer system comprising one or more processors programmed to:
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(a) electronically receive data from a first market participant, said data comprising an order to buy or sell market securities, and further comprising conditions on similar orders on the contra side; (b) electronically store said data from said first market participant; (c) electronically transmit first information to one or more entities to locate orders matching said conditions, said first information comprising said conditions; (d) electronically receive notification from one of said one or more entities, said notification comprising an indication that a second participant'"'"'s order matches said conditions, said second participant being said one of said one or more entities or in communication with said one of said one or more entities; and (e) electronically transmit to said one of said one or more entities second information including data related to said order received from said first market participant, only on condition that said one of said one or more entities is contractually bound to use said second information only for the purpose of forwarding data related to said first participant'"'"'s order to said second participant. - View Dependent Claims (4)
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5. A non-transitory computer readable medium storing software that when implemented on a computer system causes the computer system to:
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(a) electronically receive data from a first market participant, said data comprising an order to buy or sell market securities, and further comprising conditions on similar orders on the contra side; (b) electronically store said data from said first market participant; (c) electronically transmit first information to one or more entities to locate orders matching said conditions, said first information comprising said conditions; (d) electronically receive notification from one of said one or more entities, said notification comprising an indication that a second participant'"'"'s order matches said conditions, said second participant being said one of said one or more entities or in communication with said one of said one or more entities; and (e) electronically transmit to said one of said one or more entities second information including data related to said order received from said first market participant, only on condition that said one of said one or more entities is contractually bound to use said second information only for the purpose of forwarding data related to said first participant'"'"'s order to said second participant. - View Dependent Claims (6)
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Specification