摘要:
According to one embodiment, a method of managing trading is provided. In a market for a particular type of instrument, buy orders and sell orders are received from a plurality of traders. Each buy order has an associated bid price and each sell order has an associated offer price. A determination is made of whether the particular trading order is an outlying trading order by determining whether the particular trading order differs from at least one comparison price by more than a threshold value. If it is determined that the particular trading is an outlying trading order, a restrictive action is taken regarding the outlying trading order. For example, if a trader subsequently submits another trading order that would trade with the outlying trading order, an alert message may be sent to the trader and the subsequent trading order may be prevented from trading with the outlying trading order at least temporarily.
摘要:
A trading system transitions from a first state to a second state and may award a participant, when one or more criteria and/or a status of trading rights are met, with an exclusive and/or semi-exclusive right in the second state to trade on an incoming contra order.
摘要:
A trading system transitions from a first state to a second state and may award a participant, when one or more criteria and/or a status of trading rights are met, with trading priority in the second state to trade on an incoming contra order. The participant may also have an associated order modified as a result of an incoming contra order and/or be caused to automatically trade on an incoming contra order.
摘要:
Various systems and methods are provided for enabling one or more participants in an electronic trading system to have exclusive trading privileges. When one or more criteria and/or a status of trading rights are met, a trading system may award a participant with trading priority to trade on an incoming contra order. The participant may also have an associated order modified as a result of an incoming contra order and/or be caused to automatically trade on an incoming contra order.
摘要:
A determination is made as to whether a trading order that has been placed on a trading exchange is an outlying trading order. If it is determined that the trading order is an outlying trading order, a restrictive action is taken regarding the outlying trading order, and/or a restrictive action is taken regarding a subsequent trading order that may trade with the outlying trading order.