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Hybrid trading system for concurrently trading securities or derivatives through both electronic and open-outcry trading mechanisms

  • US 8,346,652 B2
  • Filed: 09/16/2009
  • Issued: 01/01/2013
  • Est. Priority Date: 04/24/2003
  • Status: Active Grant
First Claim
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1. A method of trading derivatives in an exchange comprising:

  • in an electronic trade engine having a processor, the processor;

    detecting a locked quote of a first market maker and a second market maker at the electronic trade engine;

    delaying automatic execution of the locked quote for a predetermined time;

    disseminating the locked quote to the exchange and permitting execution of orders against the locked quote; and

    notifying the first and second market makers of the locked quote after a notification period, wherein the notification period is a period of time less than the predetermined time.

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