| 摘要 |
A method for facilitating securities transactions is shown. In one embodiment, the method provides for pricing shares of stock traded between anonymous parties without requiring pricing negotiations between parties. The method can include matching, via an electronic trading system, a first party and a second party in response to receiving contra binding orders for a security from the parties, transmitting, to each of the parties, an indication of the matching, receiving, via an electronic trading system, a first trade confirmation from the first party, determining, for the security, a midpoint of a price spread at the time the first trade confirmation was entered, receiving, via the electronic trading system, a second trade confirmation for the security from the second party, and executing, via the electronic trading system, a transaction for the security between the first and second parties, wherein the security price is determined in response to the determined midpoint. |
