Systems and methods of conducting financial transactions
View Patent ↗Systems and methods of conducting financial transactions are disclosed. One method disclosed comprises receiving prices from a plurality of providers, updating a database of providers based at least in part on the received prices, and arranging the prices in the updated database of providers by arranging bid rates in a first order, arranging offer rates in a second order, and resolving a tie.
1. A computer-implemented method comprising:
receiving a user-defined preference status for each of a plurality of providers on a computer, the user-defined preference status based on a relative preference of a user for each of the plurality of providers;
receiving prices from the plurality of providers each of the received prices on the computer comprising a bid rate or an offer rate and further comprising an available volume of a financial instrument associated with each of the received prices;
generating a first list on the computer of the plurality of providers sorted in ascending order based on the received prices associated with the bid rates;
identifying from the generated first list a tie on the computer between a first provider associated with a first bid rate and a first user-defined preference status and a second provider associated with a second bid rate and a second user-defined preference status, wherein the first bid rate and the second bid rate are equal, and the first user-defined preference status is greater than the second user-defined preference status;
sorting the first list on the computer such that the first provider appears before the second provider.
generating a second list on the computer of the plurality of providers sorted in ascending order based on the received prices associated with the offer rates;
identifying from the generated second list a tie on the computer between a third provider associated with a first offer rate and a third user-defined preference status and a fourth provider associated with a second offer rate and a fourth user-defined preference status, wherein the first offer rate and the second offer rate are equal, and the third user-defined preference status is greater than the fourth user-defined preference status;
sorting the second list on the computer such that the third provider appears before the fourth provider;
causing the first list and the second list to be displayed on a display in communication with the computer.
2. The computer-implemented method according to claim 1 , further comprising:
receiving a selection of a selected provider from the first list or the second list;
identifying a plurality of user-preferred providers providing a price equal to that provided by the selected provider; and
aggregating the available volume of the financial instrument provided for sale or required for purchase by the plurality of user-preferred providers.