Electronic trading systems

Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance

Reexamination Certificate

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Reexamination Certificate

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08010440

ABSTRACT:
An anonymous trading system allows parties to divide potential counterparties into tiers according to their perceived creditworthiness and the risk involved in trading with them. Price adjustments are applied to order prices for all tiers other than the first so that second and subsequent tier counterparties trade at less favorable prices. An offer is converted into a series of linked orders, one per tier, all at different prices. Tier identifiers attached to the orders are compared to ensure that the correct tier prices are displayed to counterparties.

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patent: 399850 (2001-12-01), None
patent: 2 375 405 (2002-11-01), None
patent: WO 93/15467 (1993-08-01), None
patent: WO 01/98968 (2001-12-01), None

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