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System and method of utilizing a distributed order book in an electronic trade match engine

  • US 8,082,206 B2
  • Filed: 07/22/2010
  • Issued: 12/20/2011
  • Est. Priority Date: 03/11/2005
  • Status: Active Grant
First Claim
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1. A match engine implemented at a computer that matches orders for financial instruments, the match engine programmed with computer-executable instructions that, when executed, cause the computer to:

  • (a) receive an order for a financial instrument;

    (b) determine if the best price available to match the order is at the match engine or at a remote match engine;

    (c) if the best price to match the order is available at the match engine, attempt to match the order with an order at the match engine; and

    (d) if the order is not matched, transmit minimal order information to the remote match engine.

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