System and method for electronically trading derivatives and other financial instruments

1. A computer-implemented method for trading a derivative using a computer system capable of communication with a customer computer and a plurality of dealer computers, the method comprising:

providing information from the computer system relating to a plurality of derivatives;

causing the display on the customer computer a trade request ticket interface, the trade request ticket interface designed and configured to receive one or more inputs related to a trade request;

receiving from the customer computer a trade request and an indication of at least one dealer to which the trade request is directed;

transmitting the trade request to the selected at least one dealer;

causing the display on the dealer computer a trade quote interface, the trade quote interface designed and configured to receive one or more inputs related to a dealer quote in response to the trade request;

transmitting the trade quote to the customer computer;

causing the display on the customer computer a trade negotiation interface, the trade negotiation interface designed and configured to enable inputs related to hitting or lifting of the dealer quote and inputs countering the dealer quote;

if the dealer quote is countered,

transmitting a counter to the selected at least one dealer;

causing the display on the dealer computer the trade quote interface in a counter state, the trade quote interface in the counter state designed and configured to enable the dealer to accept the counter, re-quote, or end the trade request; and

if the dealer quote is hit or lifted by the customer or the dealer accepts the counter, executing a transaction on a computer for the derivative.

2. A non-transitory computer program product, comprising a computer usable medium having a computer readable program code embodied therein, said computer readable program code adapted to be executed to implement a method for trading a financial instrument, said method comprising:

providing a system, wherein the system comprises distinct software modules, and wherein the distinct software modules comprise a request for market module programmed with a trade negotiation sub-component to handle the exchange of messages related to the negotiation of trades, and a trade execution module;

causing the display on a customer computer a trade request ticket interface, the trade request ticket interface designed and configured to receive one or more inputs related to a trade request and transmitting the trade request to a dealer computer, and wherein the display and transmitting is processed by the request for market module;

causing the display on the dealer computer a trade quote interface, the trade quote interface designed and configured to receive one or more inputs related to a dealer quote in response to the trade request and transmitting the trade quote to the customer computer to be displayed on a trade negotiation interface on the customer computer, the trade negotiation interface designed and configured to enable inputs related to hitting or lifting of the dealer quote and inputs countering the dealer quote, and wherein the display, transmitting, and trade negotiation interface is processed by the trade negotiation sub-component of the request for market module;

if the dealer quote is countered, then

transmitting a counter to the selected at least one dealer;

causing the display on the dealer computer the trade quote interface in a counter state, the trade quote interface in the counter state designed and configured to enable the dealer to accept the counter, re-quote, or end the trade request; and

if the dealer quote is hit or lifted by the customer or the dealer accepts the counter, executing a transaction for the derivative using the execution module.

3. A computerized electronic trading system designed and adapted to permit a customer using a customer computer to electronically request a market from a dealer using a dealer computer for a financial instrument; the computerized electronic trading system communicatively connected to a network to be in electronic communication with the customer computer and the dealer computer; the computerized electronic trading system comprising:

a centralized computer system including one or more computers and including at least one message server for communicating electronic messages between the customer computer and the dealer computer,

a database system including at least one storage device, the database system storing at least information related to a plurality of financial instruments and to a trade executed between the customer and dealer;

wherein, the computerized electronic trading system is programmed with a request for market module programmed with a trade negotiation sub-component to handle the exchange of messages related to the negotiation of trades, and a trade execution module; and

wherein, using the trade negotiation sub-component of the request for market module, electronic messages related to a selection and pricing of the financial instrument, including an ability to counter a price quote for the financial instrument are transmitted through the computerized electronic trading system, and, using the execution module, a trade for the financial instrument is executed upon agreement between the customer and the dealer on the price quote.