Abstract: An Integrated Exchange that consolidates the exchange, broker & clearing house functions into a single platform for continuous 24 hour real time trading of securities, currencies, commodities & other fungibles. Both corporate and individual investors have accounts with the Integrated Exchange. Both corporate and individual investors trade directly with one another electronically through the Integrated Exchange. Account status, statements and cash T+0 settlement, and quotes are all in real time. The exchange's integrated software can perform credit check on new orders and calculate margin of long & short positions and any offsetting positions located in multiple related accounts each of which may have a different account currency. The exchange has 28 order types including visible, prearranged and hidden orders. Integrating the exchange, broker & clearing house functions into a single platform is efficient and leads to reduced execution costs for investors.