Granted Patent B1

US 8,103,579 · App. 12/836,967 · Granted Jan 24, 2012

Abstract

Claims (18)

1. A computer-implemented method comprising:

(a) electronically receiving, from a first securities market participant, data including information related to a first order and to one or more market participant group rankings for dissemination;

(b) electronically determining with one or more processors, based on data regarding a second securities market participant and said order information and market participant group rankings, whether said second securities market participant has a second order, on the contra side of said first order, and whether, in accordance with said market participant group rankings, said second securities market participant is qualified to receive information about said first order; and

(c) after, and only if, said second participant is determined to be qualified, transmitting information sufficient to display to said second securities market participant said information about said first order.

2. A computer system comprising one or more processors programmed according to software stored in a tangible computer readable medium to:

(a) receive over a computer network, from a first securities market participant, data including information related to a first order and to one or more market participant group rankings;

(b) determine, based on data regarding a second securities market participant and said order information and market participant group rankings, whether said second securities market participant has a second order, on the contra side of said first order, and whether, in accordance with said market participant group rankings, said second securities market participant is qualified to receive information about said first order; and

(c) after, and only if, said second participant is determined to be qualified, transmitting information sufficient to display to said second securities market participant said information about said first order.

3. The method of claim 1 , wherein said one or more market participant group rankings for dissemination remain the same for each of said first securities market participant's orders.

4. The method of claim 1 , wherein said one or more market participant group rankings for dissemination remain the same for each of said first securities market participant's orders trading the same security as said first order.

5. The method of claim 1 , wherein said market participant group rankings for dissemination are constructed from a list of actual participant names.

6. The method of claim 1 , wherein said market participant group rankings for dissemination are constructed from a list of anonymous labels for participants.

7. The system of claim 2 , wherein said one or more market participant group rankings for dissemination remain the same for each of said first securities market participant's orders.

8. The system of claim 2 , wherein said one or more market participant group rankings for dissemination remain the same for each of said first securities market participant's orders trading the same security as said first order.

9. The system of claim 2 , wherein said market participant group rankings for dissemination are constructed from a list of actual participant names.

10. The system of claim 2 , wherein said market participant group rankings for dissemination are constructed from a list of anonymous labels for participants.

11. The method of claim 1 , wherein said market participant group rankings for dissemination are based on an order in which market participant groups are to receive information regarding orders of said first securities market participant.

12. The system of claim 2 , wherein said market participant group rankings for dissemination are based on an order in which market participant groups are to receive information regarding orders of said first securities market participant.

Assignments (9)