Interprogram communication using messages related to order cancellation
First Claim
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1. A method comprising:
- determining, by a computer system of an electronic marketplace, a number;
counting, by the computer system of the electronic marketplace, the number of received first indications, in which each first indications indicates a respective first order, in which each first order defines a respective first trade;
querying, by the computer system of the electronic marketplace, a plurality of participants regarding the first orders;
after receiving the number of first indications, receiving, by the computer system of the electronic marketplace, a second indication of a second order, in which the second order defines a second trade;
constraining, by the computer system of the electronic marketplace in response to having counted the number of first indications before the second indication, a cancellation of the second order for a period of time;
querying, by the computer system of the electronic marketplace, the plurality of participants for an acceptance to enter into the second trade; and
allowing, by the computer system of the electronic marketplace, the cancellation of the second order after the period of time if an acceptance to enter into the second trade is not identified during the period of time.
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Abstract
A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described.
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Citations
24 Claims
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1. A method comprising:
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determining, by a computer system of an electronic marketplace, a number; counting, by the computer system of the electronic marketplace, the number of received first indications, in which each first indications indicates a respective first order, in which each first order defines a respective first trade; querying, by the computer system of the electronic marketplace, a plurality of participants regarding the first orders; after receiving the number of first indications, receiving, by the computer system of the electronic marketplace, a second indication of a second order, in which the second order defines a second trade; constraining, by the computer system of the electronic marketplace in response to having counted the number of first indications before the second indication, a cancellation of the second order for a period of time; querying, by the computer system of the electronic marketplace, the plurality of participants for an acceptance to enter into the second trade; and allowing, by the computer system of the electronic marketplace, the cancellation of the second order after the period of time if an acceptance to enter into the second trade is not identified during the period of time. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
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21. An apparatus comprising:
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one or more non-transitory machine-readable media having stored thereon a plurality of instructions that when executed by one or more processors cause the processors to; determine a number; count the number of received first indications, in which each first indications indicates a respective first order, in which each first order defines a respective first trade; query a plurality of participants of a marketplace regarding the first orders; after receiving the number of first indications, receive a second indication of a second order, in which the second order defines a second trade; constrain, in response to having counted the number of first indications before the second indication, a cancellation of the second order for a period of time; query the plurality of participants for an acceptance to enter into the second trade; and allow the cancellation of the second order after the period of time if an acceptance to enter into the second trade is not identified during the period of time. - View Dependent Claims (22)
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23. A method comprising
determining, by a computer system of an electronic marketplace, a number; -
counting, by the computer system of the electronic marketplace, the number of received first indications, in which each first indications indicates a respective first order, in which each first order defines a respective first trade; for each of the first orders, determining, by the computer system of the electronic marketplace, at least one of; that no matching order is stored in an order management system associated with any of a plurality of participants, and that none of the plurality of participants accepts an offer to enter into the respective first trade defined by the first order; after receiving the number of first indications, receiving, by the computer system of the electronic marketplace, a second indication of a second order constraining, by the computer system of the electronic marketplace in response to having counted the number of first indications before the second indication, a cancellation of the second order for a first period of time; and allowing, by the computer system of the electronic marketplace, the cancellation of the second order after the period of time if an acceptance to enter into the second trade is not identified during the period of time. - View Dependent Claims (24)
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Specification