Abstract: Techniques for displaying market depth information for a financial instrument including a plurality of bid and ask order metrics at corresponding prices. A graphical representation of the market depth information, with axes corresponding to order metrics and price, is aligned with an expected profile, including an expected metric corresponding to one or more metrics including, for example, bid and ask order volume, order count, or order consideration, generated based on the market depth information. The graphical representation of the market depth information and the expected profile are displayed using a display device.

Abstract: Techniques for displaying market depth information for a financial instrument including a plurality of bid and ask order metrics at corresponding prices. A graphical representation of the market depth information, with axes corresponding to order metrics and price, is aligned with an expected profile, including an expected metric corresponding to one or more metrics including, for example, bid and ask order volume, order count, or order consideration, generated based on the market depth information. The graphical representation of the market depth information and the expected profile are displayed using a display device.

Abstract: A system for distributing indications of interest (IOIs) to trade one or more financial instruments is provided, where the system includes at least an input/output (I/O) device, an order management system, a data server, and an analysis and correlation engine communicatively coupled to the I/O device, the order management system, and the data server. The analysis and correlation engine can be configured to receive merchandise-related data from the I/O device, trade order data from the order management system, and client holdings data from the data server. The system can be configured to calculate correlation data based on the merchandise-related data, the trade order data, and the client holdings data and to select one or more target clients for receiving IOIs based on the correlation data. The system can also create and transmit IOI messages to the one or more target clients.

Abstract: A system for distributing indications of interest (IOIs) to trade one or more financial instruments is provided, where the system includes at least an input/output (I/O) device, an order management system, a data server, and an analysis and correlation engine communicatively coupled to the I/O device, the order management system, and the data server. The analysis and correlation engine can be configured to receive merchandise-related data from the I/O device, trade order data from the order management system, and client holdings data from the data server. The system can be configured to calculate correlation data based on the merchandise-related data, the trade order data, and the client holdings data and to select one or more target clients for receiving IOIs based on the correlation data. The system can also create and transmit IOI messages to the one or more target clients.

Abstract: Techniques for managing and routing market orders across a global trading system. Each trading node can be associated with one or more markets and each node can be configured to provide market access to each market associated with a node in the system. Each trading node can be connected, via a network, to a global switching layer. The global switching layer can route requests, such as orders and the like, from an end user associated with one of the plurality of nodes to a corresponding exchange or market. The global switching layer can be configured to dynamically provide, to each end user, a user interface element corresponding to each trading node.

Abstract: The methods and systems described herein can be used for proactively monitoring regulatory compliance within an order management system, and for providing a real-time or near real-time recommendation relating to a subgroup of information containing suspicious attributes of a trade before the trade is executed. As such, market abuse monitoring is integrated with the order management system to provide historical trade data, identify a subgroup of information containing the suspicious attributes, and provide an actionable and contextualized real-time or near real-time recommendation to a compliance officer or other appropriate individual, officer, or office. As such, potential market abuse can be prevented by, for example, a rejection of the trade. By providing proactive surveillance rather than reactive surveillance relating to potential market abuse, fines or other consequences are also prevented. As such, compliance is improved.

Abstract: Techniques for displaying market depth information for a financial instrument including a plurality of bid and ask order metrics at corresponding prices of the market instrument and associated time information. A graphical representation of the market depth information, with axes corresponding to time and price, is aligned with color gradients corresponding to one or more metrics including, for example, bid and ask order volume, order count, or order consideration, generated based on the market depth information. The graphical representation of the market depth information and the color gradients are displayed using a display device.

Abstract: Techniques for managing and routing market orders across a global trading system. Each trading node can be associated with one or more markets and each node can be configured to provide market access to each market associated with a node in the system. Each trading node can be connected, via a network, to a global switching layer. The global switching layer can route requests, such as orders and the like, from an end user associated with one of the plurality of nodes to a corresponding exchange or market. The global switching layer can be configured to dynamically provide, to each end user, a user interface element corresponding to each trading node.

Abstract: Techniques for buy-side order matching in the trading of financial instruments using a centralized matching engine having one or more storage devices including rules and order parameters for a plurality of buy-side parties. The centralized matching engine includes one or more transmitters and receivers communicatively coupled to a network and one or more processors operatively coupled to the one or more storage devices and the one or more transmitters and receivers. At least one message sent over the network by a plurality of buy-side parties and is received by the central matching engine to set the rules or order parameters. At least one order of at least two of the plurality of buy-side parties is matched based on the rules and the order parameters. A message is transmitted over the network to a sell-side party indicating that trade negotiation can commence.

Abstract: Techniques for displaying market depth information for a financial instrument including a plurality of bid and ask order metrics at corresponding prices of the market instrument and associated time information. A graphical representation of the market depth information, with axes corresponding to time and price, is aligned with color gradients corresponding to one or more metrics including, for example, bid and ask order volume, order count, or order consideration, generated based on the market depth information. The graphical representation of the market depth information and the color gradients are displayed using a display device.

Abstract: Techniques for buy-side order matching in the trading of financial instruments using a centralized matching engine having one or more storage devices including rules and order parameters for a plurality of buy-side parties. The centralized matching engine includes one or more transmitters and receivers communicatively coupled to a network and one or more processors operatively coupled to the one or more storage devices and the one or more transmitters and receivers. At least one message sent over the network by a plurality of buy-side parties and is received by the central matching engine to set the rules or order parameters. At least one order of at least two of the plurality of buy-side parties is matched based on the rules and the order parameters. A message is transmitted over the network to a sell-side party indicating that trade negotiation can commence.

Abstract: A computerized trading system includes a master node and a plurality of regional nodes, the master and regional nodes each including a processor and memory, and where the master node is communicatively coupled to each of the regional nodes over a network. The master node and regional nodes are programmed to perform a method for updating limits for each of the regional nodes, where the master node maintains a global limit and a ratio representing a proportion of the global limit allocable to each of the regional nodes. The master node allocates to each regional node a local limit that is a proportion of the global limit in accordance with the ratio, and monitors the local limit utilization at each of the regional nodes. When the master node detects one or more events, the master node allocates a new local limit to one or more of the regional nodes.

Abstract: The present disclosure generally provides techniques for analyzing and displaying the order execution quality of market instruments traded during a relevant period, or lifetime, of the order. The utilization of quote information in calculating a normalization factor allows for comparisons across instruments, orders, and days for instruments with a publically available price irrespective of executed volume. A calculated Z score illustrates the quality of an order execution for a specific traded time as compared to all possible random executions. Moreover, the techniques disclosed herein allow for the comparison of execution quality across market instruments, orders sizes, and other variables via a graphical user interface and other data visualization tools, and can encapsulate evaluation methods using other adjusted Z score thresholds and/or alternatively take into account desirable volume weighting when calculating the standard deviation.

Abstract: A system and method for managing and processing Market-On-Close orders for financial instruments by dynamically employing trading strategies according to settlement rules for financial instruments is provided. Techniques disclosed can include the use of an execution model that allows a trader to submit a MOC order using a trading system. The trading system can be configured to store settlement and validation rules corresponding to a given trading instrument and/or exchange and can be configured to execute the order according to the rules specified by an exchange. The model disclosed herein can rely on exchange mandated settlement rules and settlement times, can accept the order prior to the settlement time, and can manage the order according to parameters and details of the execution model and the settlement rules specified by an exchange for a given instrument.

Abstract: Methods of displaying and placing orders for financial instruments. Financial market information is displayed on a screen controlled by a processor. The display includes a plurality of bid columns, a plurality of ask columns, and a price column acting as an axis for the bid and ask columns. Values in the columns are updated as the state of the financial market changes. The values in the columns automatically re-center if either one of the highest bid price, or lowest ask price scrolls off the screen. Placing an order includes presetting order parameters, selecting a price at which to place the order, indicating the price at which to the place the order by indicating a cell associated with a price in a column of a computer display through the use of a computer input device.