SYSTEM AND METHOD FOR MATCHING TRADING ORDERS

摘要

A system (10) for matching orders (20) includes a memory that stores bids fo r a trading product, each bid associated with at least one trader and a market (18), bid quantity and bid price for the trading product. The system also includes a processor that receives (152) an order (20) specifying an offer f or the trading product, the order (20) further specifying an offer quantity for the trading product and a target offer price for the trading product. At lea st one of the bids having a price that is greater than or equal to the target offer price is identified and matched (44) with the offer of the order (20) if the identified bid is associated with a trader, and routes the order (20) to a particular market (18) if the identified bid is associated with the particul ar market (18).