Abstract: A system and method for providing back-end functionality for order processing in electronic order book trading. A sell/buy order is received comprising a lower/upper limit and a conditional lower/upper limit defining a conditional selling/buying price range for executing the sell/buy order under certain selling/buying conditions. It is determined whether the selling/buying conditions are fulfilled, including determining whether the sum of the first and second part of the buy/sell order is superior or equal to a threshold volume. The sell/buy order and the buy/sell order are executed against each other if at least the selling/buying conditions are fulfilled. Embodiments allow rapidly executing large trading interests with minimized market impact and opportunity costs.

Abstract: There is provided a data processing system and method for valuing a bundle of constructs that may individually fail, in case of a separation event causing the bundle of constructs to separate a failing construct from the bundle. A present value determination unit applies a predefined model to determine a present value of the bundle of constructs after having separated the failing construct from the bundle. Further, a static value determination unit determines a static value by reducing a static base number each time a separation event occurs. Furthermore, a calculation unit calculates a value of the bundle of constructs based on the determined present value and the determined static value. The calculation unit is adapted to calculate a sum of the determined present value and the determined static value. In an embodiment, the bundle of constructs is a basket of credit default swaps.