| 摘要 |
<p>The present invention provides a multi-protocol trading system in which traders preferring different trading protocols may coexist within the same system, and access the same liquidity pool, while maintaining their trading rule preferences. In a preferred embodiment, the system supports two protocol preferences: a workup preference and a FIFO preference, hi one preferred embodiment, the system comprises a single integrated order book that stores orders received from both workup and FIFO traders. Received orders are matched against orders in the order book in accordance with a FIFO and/or workup protocol, as a function of preferences selected by the traders and/or the system operator. In a second preferred embodiment, the system comprises a pair of order books, a workup order book and a FIFO order book. Customers submit linked orders comprising a workup leg and a FIFO leg which may be matched against the workup and/or FIFO order books, as a function of preferences selected by the traders and/or the system operator.</p> |
