| 摘要 |
Electronic method for executing stock trading orders, typically bond trading orders, comprising the steps of automatically verifying the actual feasibility of each order received, based on standard checks and specific checks requested by the generic interconnected user (COI), automatically requesting quotations made by pre-selected execution venues (PD), aggregating all quotations thus obtained and sorting them into a synthetic aggregate list of quotations based on the value of the already defined total consideration, sending the order to that execution venue which offers the best overall quotations (depending on the characteristics of the selected execution venue, the order may be of the AON (all or none) or RFQ (request for quotation) type), returning the executed order to the client, storing all previous steps into a database, possibly resorting to Manual Care (CM) or Automatic Care (CA) or Magnet (M), automatically calculating a behaviour coefficient for MR, MTFt and MTFa, automatically calculating, for each liquidity supplier, a coefficient defined as Execution Ratio. |
