Electronic block trading system and method of operation

Details Electronic block trading system and method of operation Electronic block trading system and method of operation

2011-02-15

2011-02-15

Colbert, Ella (Department: 3694)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S03600T, C705S038000, C705S039000

Reexamination Certificate

active

07890417

ABSTRACT:
A system and method are described and disclosed that are used for effecting large block trades of securities in an automated and anonymous matter in which fair pricing is carried out using features of the NBBO. The automated trading the system and method also will carry out negotiations to effect a trade in certain circumstances, though the preferred method of effecting trades is by automated trading. However, regardless of the trading method, anonymity of the trading counterparties is preserved. The system and method also tests the NBBO for each of the traded securities to ensure it is valid before an automated trade may take place.

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