Abstract: Systems and methods for generating limit order books are disclosed. A computer system may receive, from a plurality of trading entities, orders that are specified using a machine-to-machine communication protocol. The computer system may select two or more of the received orders, including orders from at least two different ones of the plurality of trading entities, and then generate a limit order book that includes the selected orders. The computer system may then convey the limit order book to a graphical user interface of a trader. In one embodiment, the orders may be for foreign exchange instruments.

Abstract: Systems and methods for automated trading are disclosed. In one embodiment, a computer system may execute program instructions to generate dealable prices at which a first trading entity is willing to buy and/or sell an item. The system may then communicate the generated prices from the computer system to a trading system, causing the trading system to post the communicated prices. In another embodiment, the computer system may execute program instructions to determine to hit dealable prices for items posted to the trading system. For example, these actions may be performed for spot trades of a foreign currency pair, without requiring the use of a graphical user interface. In other embodiments, the computer system may use received prices to automatically generate a pricing forecast.

Abstract: Systems and methods for facilitating trades between two trading entities are disclosed. A computer system may match a bid of a first trading entity for an item with an offer of a second trading entity for the item. The first and second trading entities may each have a credit relationship with the third trading entity. In response to the matching, the computer system may record indications of trades of the item between the first trading entity and a third trading entity, and between the third trading entity and another trading entity such as the second trading entity. The trades may be booked back-to-back such that a net position to the third trading entity in the item is zero. When the first and second trading entities are connected by a plurality of intermediate entities, the computer system may record indications of one or more additional trades of the item.

Abstract: Systems and methods for electronic trading are disclosed. A trading system may store information indicative of limits on trading of items between trading entities, including an entity that is a non-credit extending entity. The computer system may then determine respective order books for at least two trading entities, where the order books include dealable bids and offers that have been individualized using stored trading limits. The stored trading limits may in some cases include different limits for different items (which may be different foreign currency pairs, in one embodiment). In other instances, trading limits may be indicative of a net position that a trading entity is permitted to take in an item. Bids and offers may be individualized based on different costs associated with different trading entities.

Abstract: A trading system with an application programming interface (API) is disclosed. The API includes a set of routines executable to permit client computer systems to automatically make and take orders for items. The API can permit, for example, machine-to-machine communication that automatically posts an order to the trading system or automatically hits an order that has previously been posted to the trading system. The API can also permit a variety of other functions, including reformatting limit order books. The trading system may also implement a graphical user interface (GUI). In one embodiment, the items may be foreign exchange instruments.

Abstract: Methods, systems, and computer readable media for facilitating trading two items (L,Q) from the group of items comprising commodities and financial instruments. At least two agents (2) want to trade the items (L,Q). There is a trading channel (3) between the two agents (2) allowing for the execution of trades. There are flow (trading) limits on the items being traded. A central computer (1) is coupled to the two agents (2). Said computer (1) is adapted to convey to each agent (2) current tradable bid and offered prices and sizes subject to the agent's (2) trading limits.

Abstract: Systems and methods for electronic trading are disclosed. A trading system may store information indicative of limits on trading of items between trading entities, including an entity that is a non-credit extending entity. The computer system may then determine respective order books for at least two trading entities, where the order books include dealable bids and offers that have been individualized using stored trading limits. The stored trading limits may in some cases include different limits for different items (which may be different foreign currency pairs, in one embodiment). In other instances, trading limits may be indicative of a net position that a trading entity is permitted to take in an item. Bids and offers may be individualized based on different costs associated with different trading entities.

Abstract: A trading system with an application programming interface (API) is disclosed. The API includes a set of routines executable to permit client computer systems to automatically make and take orders for items. The API can permit, for example, machine-to-machine communication that automatically posts an order to the trading system or automatically hits an order that has previously been posted to the trading system. The API can also permit a variety of other functions, including reformatting limit order books. The trading system may also implement a graphical user interface (GUI). In one embodiment, the items may be foreign exchange instruments.

Abstract: Systems and methods for automated trading are disclosed. In one embodiment, a computer system may execute program instructions to generate dealable prices at which a first trading entity is willing to buy and/or sell an item. The system may then communicate the generated prices from the computer system to a trading system, causing the trading system to post the communicated prices. In another embodiment, the computer system may execute program instructions to determine to hit dealable prices for items posted to the trading system. For example, these actions may be performed for spot trades of a foreign currency pair, without requiring the use of a graphical user interface. In other embodiments, the computer system may use received prices to automatically generate a pricing forecast.

Abstract: Systems and methods for processing requests for quotes (RFQs) are disclosed. A computer may receive a request for quote from a first trading entity. The computer system may then obtain quotes responsive to the RFQ. The obtained quotes include a quote from a second trading entity that has an indirect credit relationship to the first trading entity. The computer system then provides at least one of the obtained quotes to the first trading entity. The request for quote may be for a spot trade of a foreign exchange item, for example.

Abstract: Systems and methods for generating limit order books are disclosed. A computer system may receive, from a plurality of trading entities, orders that are specified using a machine-to-machine communication protocol. The computer system may select two or more of the received orders, including orders from at least two different ones of the plurality of trading entities, and then generate a limit order book that includes the selected orders. The computer system may then convey the limit order book to a graphical user interface of a trader. In one embodiment, the orders may be for foreign exchange instruments.

Abstract: Systems and methods for facilitating trades between two trading entities are disclosed. A computer system may match a bid of a first trading entity for an item with an offer of a second trading entity for the item. The first and second trading entities may each have a credit relationship with the third trading entity. In response to the matching, the computer system may record indications of trades of the item between the first trading entity and a third trading entity, and between the third trading entity and another trading entity such as the second trading entity. The trades may be booked back-to-back such that a net position to the third trading entity in the item is zero. When the first and second trading entities are connected by a plurality of intermediate entities, the computer system may record indications of one or more additional trades of the item.

Abstract: Methods, systems, and computer readable media for facilitating trading two items (L,Q) from the group of items comprising commodities and financial instruments. At least two agents (2) want to trade the items (L,Q). There is a trading channel (3) between the two agents (2) allowing for the execution of trades. There are flow (trading) limits on the items being traded. A central computer (1) is coupled to the two agents (2). Said computer (1) is adapted to convey to each agent (2) current tradable bid and offered prices and sizes subject to the agent's (2) trading limits.

Abstract: Methods, systems, and computer readable media for facilitating trading two items (L,Q) from the group of items comprising commodities and financial instruments. At least two agents (2) want to trade the items (L,Q). There is a trading channel (3) between the two agents (2) allowing for the execution of trades. There are flow (trading) limits on the items being traded. A central computer (1) is coupled to the two agents (2). Said computer (1) is adapted to convey to each agent (2) current tradable bid and offered prices and sizes subject to the agent's (2) trading limits.

Abstract: Methods, systems, and computer readable media for facilitating trading two items (L,Q) from the group of items comprising commodities and financial instruments. At least two agents (2) want to trade the items (L,Q). There is a trading channel (3) between the two agents (2) allowing for the execution of trades. There are flow (trading) limits on the items being traded. A central computer (1) is coupled to the two agents (2). Said computer (1) is adapted to convey to each agent (2) current tradable bid and offered prices and sizes subject to the agent's (2) trading limits.

Abstract: Methods, systems, and computer readable media for facilitating trading two items (L,Q) from the group of items comprising commodities and financial instruments. At least two agents (2) want to trade the items (L,Q). There is a trading channel (3) between the two agents (2) allowing for the execution of trades. There are flow (trading) limits on the items being traded. A central computer (1) is coupled to the two agents (2). Said computer (1) is adapted to convey to each agent (2) current tradable bid and offered prices and sizes subject to the agent's (2) trading limits.

Abstract: Methods, systems, and computer readable media for facilitating trading two items (L,Q) from the group of items comprising commodities and financial instruments. At least two agents (2) want to trade the items (L,Q). There is a trading channel (3) between the two agents (2) allowing for the execution of trades. There are flow (trading) limits on the items being traded. A central computer (1) is coupled to the two agents (2). Said computer (1) is adapted to convey to each agent (2) current tradable bid and offered prices and sizes subject to the agent's (2) trading limits.

Abstract: Methods, systems, and computer readable media for facilitating trading two items (L,Q) from the group of items comprising commodities and financial instruments. At least two agents (2) want to trade the items (L,Q). There is a trading channel (3) between the two agents (2) allowing for the execution of trades. There are flow (trading) limits on the items being traded. A central computer (1) is coupled to the two agents (2). Said computer (1) is adapted to convey to each agent (2) current tradable bid and offered prices and sizes subject to the agent's (2) trading limits.