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Systems and methods for market order volume clearing in online trading of credit derivatives

  • US 8,645,260 B2
  • Filed: 03/03/2011
  • Issued: 02/04/2014
  • Est. Priority Date: 12/09/2002
  • Status: Active Grant
First Claim
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1. An online trading system, comprising:

  • a database configured to store information for certain reference entities;

    memory configured to store execution instructions; and

    a processor coupled with the database and the memory, the processor configured to execute the instructions, the instructions configured to cause the system to;

    receive from each of a plurality of trader clients a position for a financial instrument associated with a reference entity, the position having either a buy or sell position and a price and a notional;

    receive an acceptance from a transacting trader client to the position for the financial instrument of one of the plurality of trader clients;

    invite a selected plurality of trader clients, based on predefined criteria, to transact at the price of the accepted position;

    receive a position for the financial instrument from a number of the selected trader clients in response to said invitation;

    match the received positions of the plurality of selected trader clients to each other based on the notional of each position; and

    finalize the transactions of all positions which are matched at the plice of the accepted position.

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