Large block trading

1. A method for facilitating electronic trading with interfaces of servers, the method comprising:

receiving, by a third server, from a first interface of a first server operated on behalf of a first trader, an electronic communication including data representing a first trade order and one or more selection criteria, the first trade order including a specified instrument, a specified quantity, and a specified price;

determining, by the third server, that an electronic database of data representing trade orders does not contain a second trade order matching the first trade order;

identifying, by the third server, a plurality of second servers satisfying the one or more selection criteria;

sending, by the third server, to second interfaces of a plurality of second servers, each of the plurality of second servers operated on behalf of one or more of the plurality of second traders, and the plurality of second servers including one or more second servers that fail to meet the selection criteria, data representing a query including (a) a key comprising a string of data interpretable by each of the plurality of second servers that indicates whether each of the plurality of second servers is an intended recipient of the query from which a positive trade response would be facilitated and (b) the specified instrument, the specified quantity, and the specified price;

based on the key indicating that at least one of the plurality of second servers is the intended recipient, determining, by the at least one of plurality of second servers, whether a database of trade orders associated with the at least one of the plurality of second servers contains at least one trade order from at least one of the plurality of second traders for a quantity of the specified instrument at the specified price on behalf of the at least one of the plurality of second traders;

receiving, by the third server, from the second interface of the at least one of the plurality of second servers, data representing a positive response to the query to trade the quantity of the specified instrument at the specified price;

before executing an electronic trade between the first trader and the at least one of the plurality of second traders, (1) determining, by the third server, a first identity of the first trader and a second identity of the at least one of the plurality of second traders, (2) generating, by the third server, electronic signals to issue commands for preventing the first identity of the first trader from being communicated to the at least one of the plurality of second traders, and (3) generating, by the third server, electronic signals to issue commands for preventing the second identity of the at least one of the plurality of second traders from being communicated to the first trader; and

executing, by the third server computer, the electronic trade between the first trader and the at least one of the plurality of second traders, and preventing the first identity of the first trader from being communicated to the at least one of the plurality of second traders.

2. The method of claim 1 , wherein identifying the plurality of second traders includes determining that a trading history of each of the plurality of second traders satisfies one or more of the selection criteria.

3. The method of claim 2 , wherein the trading history of each of the plurality of second traders includes a positive response rate and the selection criteria include a minimum positive response rate, and wherein determining that the trading history of each of the plurality of second traders satisfies one or more of the selection criteria includes:

determining that the positive response rate of each of the plurality of second traders equals or exceeds the minimum positive response rate.

4. The method of claim 2 , wherein the trading history of each of the plurality of second traders includes a positive response rate for the specified instrument and the selection criteria include a minimum positive response rate for the specified instrument, and wherein determining that the trading history of each of the plurality of second traders satisfies one or more of the selection criteria includes:

determining that the positive response rate for the specified instrument of each of the plurality of second traders equals or exceeds the minimum positive response rate for the specified instrument.

5. The method of claim 2 , wherein the trading history of each of the plurality of second traders includes a positive response rate for a set of instruments and the selection criteria include a minimum positive response rate for the set of instruments, and wherein determining that the trading history of each of the plurality of second traders satisfies one or more of the selection criteria includes:

determining that the positive response rate for the set of instruments of each of the plurality of second traders equals or exceeds the minimum positive response rate for the set of instruments.

6. The method of claim 5 , wherein the set of instruments includes instruments relating to a particular entity.

7. The method of claim 5 , wherein the set of instruments includes instruments relating to a particular industry.

8. The method of claim 5 , wherein the set of instruments includes instruments associated with entities having a particular market capitalization.

9. The method of claim 5 , wherein the set of instruments includes an enumerated set of instruments.

10. The method of claim 5 , wherein the set of instruments includes any instrument characterized by a specified parameter.

11. The method of claim 5 , wherein the set of instruments includes the specified instrument and an instrument substitutable for the specified instrument.

12. The method of claim 1 , wherein the first server includes an order management system.

13. The method of claim 1 , wherein the first server is in communication with an order management system.

14. The method of claim 1 , wherein at least one of the plurality of second servers includes an order management system.

15. The method of claim 1 , wherein at least one of the plurality of second servers is in communication with an order management system.

16. The method of claim 1 , wherein sending a query further comprises:

formatting the query in a format readable by an order management system.

17. An apparatus comprising:

a third server; and

a non-transitory medium having stored thereon a plurality of instruction that when executed by the third server cause the apparatus to:

receive, by the third server, from a first interface of a first server operated on behalf of a first trader, an electronic communication including data representing a first trade order and one or more selection criteria, the first trade order including a specified instrument, a specified quantity, and a specified price;

determine, by the third server, that an electronic database of data representing trade orders does not contain a second trade order matching the first trade order;

identify, by the third server, a plurality of second servers satisfying the one or more selection criteria;

send, by the third server, to second interfaces of a plurality of second servers, each of the plurality of second servers operated on behalf of one or more of the plurality of second traders, and the plurality of second servers including one or more second servers that fail to meet the selection criteria, data representing a query including (a) a key comprising a string of data interpretable by each of the plurality of second servers that indicates whether each of the plurality of second servers is an intended recipient of the query from which a positive trade response would be facilitated and (b) the specified instrument, the specified quantity, and the specified price;

based on the key indicating that at least one of the plurality of second servers is the intended recipient, determine, by the at least one of plurality of second servers, whether a database of trade orders associated with the at least one of the plurality of second servers contains at least one trade order from at least one of the plurality of second traders for a quantity of the specified instrument at the specified price on behalf of the at least one of the plurality of second traders;

receive, by the third server, from the second interface of the at least one of the plurality of second servers, data representing a positive response to the query to trade the quantity of the specified instrument at the specified price on behalf of the at least one of the plurality of second traders;

before executing an electronic trade between the first trader and the at least one of the plurality of second traders, (1) determine, by the third server, a first identity of the first trader and a second identity of the at least one of the plurality of second traders, (2) generate, by the third server, electronic signals to issue commands for preventing the first identity of the first trader from being communicated to the at least one of the plurality of second traders, and (3) generate, by the third server, electronic signals to issue commands for preventing the second identity of the at least one of the plurality of second traders from being communicated to the first trader; and

execute, by the third server computer, the electronic trade between the first trader and the at least one of the plurality of second traders, and prevent the first identity of the first trader from being communicated to the at least one of the plurality of second traders.

18. The apparatus of claim 17 , wherein send a query further comprises:

format the query in a format readable by an order management system.

19. A non-transitory computer-readable medium having stored thereon instructions that are configured to, when executed by at least one third server, direct the at least one third server to:

receive, by the third server, from a first interface of a first server operated on behalf of a first trader, an electronic communication including data representing a first trade order and one or more selection criteria, the first trade order including a specified instrument, a specified quantity, and a specified price;

determine, by the third server, that an electronic database of data representing trade orders does not contain a second trade order matching the first trade order;

identify, by the third server, a plurality of second servers satisfying the one or more selection criteria;

send, by the third server, to second interfaces of a plurality of second servers, each of the plurality of second servers operated on behalf of one or more of the plurality of second traders, and the plurality of second servers including one or more second servers that fail to meet the selection criteria, data representing a query including (a) a key comprising a string of data interpretable by each of the plurality of second servers that indicates whether each of the plurality of second servers is an intended recipient of the query from which a positive trade response would be facilitated and (b) the specified instrument, the specified quantity, and the specified price;

based on the key indicating that at least one of the plurality of second servers is the intended recipient, determine, by the at least one of plurality of second servers, whether a database of trade orders associated with the at least one of the plurality of second servers contains at least one trade order from at least one of the plurality of second traders for a quantity of the specified instrument at the specified price on behalf of the at least one of the plurality of second traders;

receive, by the third server, from the second interface of the at least one of the plurality of second servers, data representing a positive response to the query to trade the quantity of the specified instrument at the specified price on behalf of the at least one of the plurality of second traders;

before executing an electronic trade between the first trader and the at least one of the plurality of second traders, (1) determine, by the third server, a first identity of the first trader and a second identity of the at least one of the plurality of second traders, (2) generate, by the third server, electronic signals to issue commands for preventing the first identity of the first trader from being communicated to the at least one of the plurality of second traders, and (3) generate, by the third server, electronic signals to issue commands for preventing the second identity of the one of the plurality of second traders from being communicated to the first trader; and

execute, by the third server computer, the electronic trade between the first trader and the at least one of the plurality of second traders, and prevent the first identity of the first trader from being communicated to the at least one of the plurality of second traders.

20. The non-transitory computer-readable medium of claim 19 , wherein send a query further comprises:

format the query in a format readable by an order management system.