Importance

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Abstract

Various embodiments are generally directed to techniques for automated order matching. Techniques described herein may provide an automated order matching system that provides advantages of the last look technique, yet minimizes or eliminates the ability of makers to manipulate markets. In some embodiments, one or more electronic orders may be received at a server, the one or more electronic orders comprising orders to buy or sell currency. At least one electronic order of the one or more electronic orders may be automatically identified as an OXQ type, wherein OXQ type orders include a trade acknowledge return time (TART) and maximum adverse change (MAC). One or more orders may be prioritized primarily based upon TART and secondarily based upon MAC. The one or more orders may be automatically matched based upon determined.

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First Claim