Abstract: The invention relates to systems and methods that allocate different types of commissions to participants based on at least one factor contributing to the liquidity to the market in which an item trades. The commission may accordingly depend on the order in which trading commands are received from different participants and/or the sides the participants are on. The systems and methods receive trade commands from different participants on the item, match these trade commands, determine a commission or reward based on the added liquidity and allocate the commission or reward to certain participants.

Abstract: Methods and corresponding system are provided herewith that, in at least one embodiment, include the act or acts of receiving at least one warrant in exchange for executing at least one trading activity in a marketplace, in which the warrant may be converted into at least one ownership share of an entity associated with the marketplace; receiving information associated with the execution of the trading activities in the marketplace; receiving an indicia indicating a quantity of warrants eligible for conversion into ownership shares, in which the quantity of eligible warrants is determined based on the received information; and receiving a quantity of ownership shares of the entity, in which the quantity of ownership shares is determined based on a conversion ratio.

Abstract: Methods and corresponding system are provided herewith that, in at least one embodiment, include the act or acts of issuing at least one warrant to a participant, in which the warrant is convertible into at least one ownership share of an entity associated with a marketplace; receiving information associated with the participant's execution of trading activities in the marketplace; determining, based on the received information, a quantity of warrants eligible for conversion into ownership shares; converting the eligible warrants into a quantity of ownership shares; and transmitting an indicia indicating the quantity of ownership shares.

Abstract: The present invention provides a trading keyboard that can be configured both physically and functionally according to a user's preferences. The trading keyboard preferably includes self-identifying key covers that can be physically arranged on any of the keyboard's key bases. Detection mechanisms included in the key bases detect the commands of the trading application associated with each self-identifying key cover. Therefore, the user may reposition the key covers on the keyboard according to the user's preferences, and yet retain the same functionality for the key covers. The user may also switch between keyboard modes that allow the keyboard to be functionally reconfigured. By selecting different modes, the user can chose between different keyboard mapping configurations that assign the functions of the trading application to the keys in different arrangements. The mode selection mechanism may also be used to select between different commands associated with a single key or key cover.

Abstract: The present invention provides a trading keyboard that can be configured both physically and functionally according to a user's preferences. The trading keyboard preferably includes self-identifying key covers that can be physically arranged on any of the keyboard's key bases. Detection mechanisms included in the key bases detect the commands of the trading application associated with each self-identifying key cover. Therefore, the user may reposition the key covers on the keyboard according to the user's preferences, and yet retain the same functionality for the key covers. The user may also switch between keyboard modes that allow the keyboard to be functionally reconfigured. By selecting different modes, the user can chose between different keyboard mapping configurations that assign the functions of the trading application to the keys in different arrangements. The mode selection mechanism may also be used to select between different commands associated with a single key or key cover.

Abstract: The invention relates to systems and methods that provide a user interface for use with an electronic trading system. The interface displays a bid price axis and an ask price axis, as well as corresponding sizes, and an indication of the inside market. When the inside market changes in response to changing market conditions, the indication of the inside market changes locations before being restored to its original location by shifting the bid and ask prices in a direction parallel to the bid or ask price axis. The user may enter trade commands at different price levels using an input device. In order to help prevent such trade commands from being entered at erroneous price levels, the system locks a pointer associated with the input device to a price the user points to during the shifting process, unless the pointer is moved away from that price.

Abstract: 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.

Abstract: The present invention provides a trading keyboard that can be configured both physically and functionally according to a user's preferences. The trading keyboard preferably includes self-identifying key covers that can be physically arranged on any of the keyboard's key bases. Detection mechanisms included in the key bases detect the commands of the trading application associated with each self-identifying key cover. Therefore, the user may reposition the key covers on the keyboard according to the user's preferences, and yet retain the same functionality for the key covers. The user may also switch between keyboard modes that allow the keyboard to be functionally reconfigured. By selecting different modes, the user can chose between different keyboard mapping configurations that assign the functions of the trading application to the keys in different arrangements. The mode selection mechanism may also be used to select between different commands associated with a single key or key cover.

Abstract: The invention relates to systems and methods that provide a user interface for use with an electronic trading system. The interface displays a bid price axis and an ask price axis, as well as corresponding sizes, and an indication of the inside market. When the inside market changes in response to changing market conditions, the indication of the inside market changes locations before being restored to its original location by shifting the bid and ask prices in a direction parallel to the bid or ask price axis. The user may enter trade commands at different price levels using an input device. In order to help prevent such trade commands from being entered at erroneous price levels, the system locks a pointer associated with the input device to a price the user points to during the shifting process, unless the pointer is moved away from that price.

Abstract: Systems and methods for configurable trading interfaces that allow a trader to quickly and easily submit trading commands to a trading system are provided. Using these systems and methods, a trader can using various trading interfaces to initiate trading commands, configure various display features and default command settings, and control a level of command entry verification that is provided to protect against inadvertent entry of incorrect trading commands.

Abstract: Systems and methods for configurable trading interfaces that allow a trader to quickly and easily submit trading commands to a trading system are provided. Using these systems and methods, a trader can using various trading interfaces to initiate trading commands, configure various display features and default command settings, and control a level of command entry verification that is provided to protect against inadvertent entry of incorrect trading commands.

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.

Abstract: Systems and methods for providing trading exclusivity/priority in response to quantity of items traded in electronic trading systems is provided. The method preferably includes receiving an incoming order for the item and determining whether the incoming order matches a current order for the item and satisfies a minimum volume requirement. When the incoming order matches a current order for the item and satisfies a minimum volume requirement, the method includes transacting a trade between the incoming order and the current order and providing a predetermined time period of exclusive trading between a participant associated with the incoming order and a participant associated with the current order.

Abstract: An apparatus for processing a composite trading order comprises an interface operable to display a composite value representing a weighted quantity of a plurality of trading products. The apparatus further comprises a processor operable to receive at least one input representing a composite trading order, wherein the at least one input comprises a quantity that is equal to at least a portion of the weighted quantity. The at least one input is usable to generate one or more constituent trading orders that, when filled, combine to satisfy the composite trading order.