Abstract: Disclosed herein are a system, non-transitory computer readable medium, and method for monitoring and replaying packets. A network tap forwards packets from a first network to a second network. At least one node in the first network has the same IP address as a node in the second network. The packets are replayed in the second network.

Abstract: An electronic exchange system includes a physical data bus directly communicatively coupling first and second physical processing elements of an electronic processor. The second element may receive indications of orders from remote devices not part of the system, add each order to a respective one of a queue of buy orders and a queue of sell orders for a financial instrument, and determine a match between orders of the respective queues. The first element may receive an indication of an occurrence of an event, determine that an adjustment to an order is conditioned on a criteria associated with the occurrence, determine that the criteria is satisfied, and transmit, through the physical data bus, to the second element, an indication to adjust the order that acts as an interrupt to processing of the second element to cause the second element to, in response to receiving the indication, adjust the order.

Abstract: Various embodiments of exchanges are described. Methods and other embodiments are also described.

Abstract: Various embodiments of exchanges are described. Methods and other embodiments are also described.

Abstract: Disclosed herein are a system, non-transitory computer readable medium, and method for monitoring and replaying packets. A network tap forwards packets from a first network to a second network. At least one node in the first network has the same IP address as a node in the second network. The packets are replayed in the second network.

Abstract: Data processing systems and methods for managing transactions in auction-based trading of specialized items such as fixed income instruments are presented. The data processing system provides a highly structured trading protocol implemented through a sequence of trading paradigms. The system employs a distributed computer processing network linking together a plurality of commonly configured program-controlled workstations. The protocol and its program-controlling logic improves trading efficiency, rewards market Makers, and fairly distributes market opportunity to system users.

Abstract: Data processing systems and methods for managing transactions in auction-based trading of specialized items such as fixed income instruments are presented. The data processing system provides a highly structured trading protocol implemented through a sequence of trading paradigms. The system employs a distributed computer processing network linking together a plurality of commonly configured program-controlled workstations. The protocol and its program-controlling logic improves trading efficiency, rewards market Makers, and fairly distributes market opportunity to system users.

Abstract: A processor coupled to a memory may receive a first trading order from a first trading participant associated in the at least one database with a first entity, the first trading order comprising a price. The processor may, after receiving the first trading order, receive a second trading order from a second trading participant associated in the at least one memory with a second entity different from the first entity, the second trading order comprising the price. The processor may ordering the first trading order ahead of the second trading order in a trading order queue at the price. After receiving the first and second trading orders and while the first trading order is available for execution, the processor may receive a third trading order from a third trading participant associated with the second entity in the at least one memory, the third trading order being contra to the first and second trading orders at the same price.

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: Various embodiments of exchanges are described. Methods and other embodiments are also described.

Abstract: Various embodiments of exchanges are described. Methods and other embodiments are also described.

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.