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Platform for market programs and trading programs

  • US 7,882,007 B2
  • Filed: 03/08/2001
  • Issued: 02/01/2011
  • Est. Priority Date: 04/10/2000
  • Status: Active Grant
First Claim
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1. A method of facilitating trading using a computer system, comprising:

  • executing, by a computer system, at least two market processes during an overlapping time interval, wherein each of the at least two market processes provides a distinct and separate market and implements a respective market methodology;

    receiving, by a first of the at least two market processes executing on the computer system, a first order from a trader,wherein the first order specifies one or more items for a trade and is available for pairing by the first market process, andwherein, during the overlapping time interval, a second order from the trader is available for pairing by a second of the at least two market processes executing on the computer system, the second order specifying the same one or more items as specified in the first order;

    during the overlapping time interval, conditionally pairing, by the first market process executing on the computer system, the first order with a contra-side order, wherein the pairing is conditional based on preventing the second order from being paired by the second market process;

    sending, by the first market process, an instruction related to the first order to a representation process executing on the computer system, the instruction causing the representation process to respond thereto by sending to the second market process a corresponding instruction related to the conditional pairing of the first order;

    responsive to the corresponding instruction, preventing, by the second market process, a pairing of the second order that was available for pairing; and

    responsive to preventing the pairing of the second order, completing, by the first market process, the pairing of the first order with the contra-side order that previously was conditionally paired by the first market process,wherein the representation process is configured to communicate with each of the market processes and provide a communication conduit between the at least two market processes for synchronizing processing of the orders that are available for pairing by the at least two market processes during the overlapping time interval.

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