AUTOMATIC FINANCIAL INSTRUMENT TRANSACTION SYSTEM

摘要

A computer-based transaction system manages representations of a plurality of positions in a first type of financial instrument, such as bond future contracts. From time to time, transaction system converts traders' positions in the first type of financial instrument into corresponding positions in a second type of financial instrument, such as bonds. Later, the transaction system converts each position in the second type of financial instrument into a position in the first type of financial instrument.