SYSTEMS AND METHODS FOR TRADING
The present invention is systems and methods for trading. In accordance with these systems and methods, a plurality of trader work stations that are connected to a central server may be provided. Through the work stations and central server, the systems and methods may perform participant qualification, instrument creation, bid/offer entry and response, when hit and take, workup, price retention, price improvement, request for market, bid/off restoration, price generation, position conversion, marking to market, and delivery functions.
1 - 3 . (canceled)
4 . A method for creating an instrument to be traded in an electronic trading system, comprising:
receiving a first parameter that designates a feature of the instrument from a user;
presenting a plurality of parameter options to the user;
receiving a selection of one of the plurality of parameter option from the user;
determining a second parameter that designates another feature of the instrument from the selection and the first parameter; and
defining the instrument as having the first parameter and the second parameter.
5 . The method of claim 4 , wherein the first parameter is a currency pair designation, the plurality of parameter options are date specifications, and the second parameter is a valid value date of the instrument.
6 - 11 . (canceled)
12 . A method for processing a bid or offer in an electronic trading system, comprising:
receiving the bid or offer from a participant in the electronic trading system;
presenting the bid or offer to another participant in the electronic trading system;
aging the bid or offer for a specified period of time; and
preventing cancellation of the bid or offer until the bid or offer has been aged for the specified period of time.
13 - 31 . (canceled)
32 . A method for rolling over a position of a trade, comprising:
automatically determining a cost of carry for a roll over of the trade between an old value date and a new value date;
calculating a credit or debit based on the cost of carry for the trade between the old value date and the new value date; and
rolling over the trade so that the new value date is valid for the trade.
33 . The method of claim 32 , further comprising receiving an indication from a participant to the trade whether to roll over the trade.
34 . The method of claim 32 , wherein the automatically determining of the cost of carry comprises automatically receiving interest rates from a plurality of lenders.
35 - 37 . (canceled)