SYSTEMS AND METHODS FOR IMPLEMENTING TRADING AND GLOBAL MATCHING BASED ON BROKER SUGGESTED PRICES

摘要

Systems and methods for implementing trading and matching are provided. A system includes a database configured to store financial instrument information and a memory configured to store execution instructions. A processor executes the instructions. The processor may initiate a trading session. The processor may receive instructions. The instructions may include either a buy or sell position and a price. The buy or sell position may not be for display to other broker clients. In response to a trade command from one of a plurality of other broker clients, the instructions may require sending an electronic notification to the first broker client that one of the plurality of broker clients has submitted a counter order that is capable of executing a trade with the first broker's buy or sell position.

主权项

1. A financial instrument transaction system comprising:
a database configured to store financial instrument 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 processor to:
receive from a first broker client trading instructions associated with a reference entity, the instructions that include either a buy or sell position and a price, the buy or sell position not for display to other broker clients;in response to a trade command from one of a plurality of other broker clients, said trade command that comprises a counter order to the buy or to the sell position, sending an electronic notification to the first broker client associated with the buy or sell command that the one of the plurality of broker clients has, at least in fact, submitted a counter order that comprises an order that is capable of executing a trade with the first broker's buy or sell position.