Systems and methods for establishing first on the follow trading priority in electronic trading systems
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United States of America Patent
Stats
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Jul 24, 2012
Grant Date -
Jul 26, 2007
app pub date -
Jan 9, 2006
filing date -
Jan 9, 2006
priority date (Note) -
In Force
status (Latency Note)
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Abstract
Systems and methods for trading an item in an electronic trading system are provided. The method preferably includes transitioning the trading system from a first trading state to a second trading state. Once the trading system has transitioned to the second state, the method includes determining whether an existing order qualifies for trading priority and/or exclusivity in the second trading state with respect to an incoming contra order. This determining of trading rights in the second trading state is preferably based on the status of trading priority in the first trading state and also a set of predetermined criteria with respect to an incoming contra order in the second trading state. If the existing order qualifies for trading priority, then the system preferably presents the incoming contra order for trading exclusively or semi-exclusively to the participant associated with the existing order.
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