Abstract: Apparatus and method for stimulating trading in a limited-liquidity financial instrument may include receiving a trade of liquidity for the financial instrument. The trade may include a first order from a first entity corresponding to a price and volume associated with a pre-determined bid-offer spread. The first order may be executable only in conjunction with a counterorder including a commitment to make a two-way market in the pre-determined bid-offer spread. The counterorder may be received from a second entity with a bid price and an offer price. An instruction may be received from the first entity to select one of the bid and the offer and execute a trade therewith for a size not less than a pre-determined size. If a selection from the first entity is not received with a pre-determined time period of time, a trade may be executed based on a pre-determined election by the second entity.

Abstract: Apparatus and method for stimulating trading in a limited-liquidity financial instrument may include receiving a trade of liquidity for the financial instrument. The trade may include a first order from a first entity corresponding to a price and volume associated with a pre-determined bid-offer spread. The first order may be executable only in conjunction with a counterorder including a commitment to make a two-way market in the pre-determined bid-offer spread. The counterorder may be received from a second entity with a bid price and an offer price. An instruction may be received from the first entity to select one of the bid and the offer and execute a trade therewith for a size not less than a pre-determined size. If a selection from the first entity is not received with a pre-determined time period of time, a trade may be executed based on a pre-determined election by the second entity.

Abstract: Apparatus and method for stimulating trading in a limited-liquidity financial instrument may include receiving a trade of liquidity for the financial instrument. The trade may include a first order from a first entity corresponding to a price and volume associated with a pre-determined bid-offer spread. The first order may be executable only in conjunction with a counterorder including a commitment to make a two-way market in the pre-determined bid-offer spread. The counterorder may be received from a second entity with a bid price and an offer price. An instruction may be received from the first entity to select one of the bid and the offer and execute a trade therewith for a size not less than a pre-determined size. If a selection from the first entity is not received with a pre-determined time period of time, a trade may be executed based on a pre- determined election by the second entity.

Abstract: Apparatus for stimulating trading in a limited-liquidity financial instrument are provided. One the method may include receiving a trade of liquidity for the limited-liquidity financial instrument. The receiving may include receiving a first order. The first order may correspond to a price and volume associated with a pre-determined bid-offer spread. The order may be executable only in conjunction with a counterorder that trades with the first order and includes a commitment to make a two-way market in the financial instrument at the predetermined bid-offer spread. In certain embodiments, when the first order is received from a first entity and the counterorder is received from a second entity, the method may also include receiving a bid price and an offer price from a second entity. The method may also include receiving an instruction from the first entity to select one of the bid and the offer and to execute a trade therewith.

Abstract: Apparatus for stimulating trading in a limited-liquidity financial instrument are provided. One the method may include receiving a trade of liquidity for the limited-liquidity financial instrument. The receiving may include receiving a first order. The first order may correspond to a price and volume associated with a pre-determined bid-offer spread. The order may be executable only in conjunction with a counterorder that trades with the first order and includes a commitment to make a two-way market in the financial instrument at the predetermined bid-offer spread. In certain embodiments, when the first order is received from a first entity and the counterorder is received from a second entity, the method may also include receiving a bid price and an offer price from a second entity. The method may also include receiving an instruction from the first entity to select one of the bid and the offer and to execute a trade therewith.

Abstract: Apparatus for stimulating trading in a limited-liquidity financial instrument are provided. One the method may include receiving a trade of liquidity for the limited-liquidity financial instrument. The receiving may include receiving a first order. The first order may correspond to a price and volume associated with a pre-determined bid-offer spread. The order may be executable only in conjunction with a counterorder that trades with the first order and includes a commitment to make a two-way market in the financial instrument at the predetermined bid-offer spread. In certain embodiments, when the first order is received from a first entity and the counterorder is received from a second entity, the method may also include receiving a bid price and an offer price from a second entity. The method may also include receiving an instruction from the first entity to select one of the bid and the offer and to execute a trade therewith.

Abstract: Systems and methods for implementing post-matching trading are provided. A financial instrument transaction system may include a database configured to store financial instrument information for reference entities; a memory for storing execution instructions; and a processor. The processor may execute the instructions. The processor may initiate a trading session for a predetermined duration. Prior to and during the trading session, the processor may receive from a plurality of trader clients trading instructions associated with the reference entity. The instructions may include either a buy or sell position and a price. At the end of the trading session, the processor may determine, based on predefined criteria, whether the trading session qualifies for a post-matching session. If the trading session qualifies for a post-matching session, the processor may provide a graphical user interface to a selected group of traders for trading in the post-matching session.

Abstract: Systems and methods for implementing trading and matching are provided. A system includes a database configured to store financial instrument information and a memory configured to store execution instructions. A processor executes the instructions. The processor may initiate a trading session. The processor may receive instructions. The instructions may include either a buy or sell position and a price. The buy or sell position may not be for display to other broker clients. In response to a trade command from one of a plurality of other broker clients, the instructions may require sending an electronic notification to the first broker client that one of the plurality of broker clients has submitted a counter order that is capable of executing a trade with the first broker's buy or sell position.

Abstract: Apparatus for stimulating trading in a limited-liquidity financial instrument are provided. One the method may include receiving a trade of liquidity for the limited-liquidity financial instrument. The receiving may include receiving a first order. The first order may correspond to a price and volume associated with a pre-determined bid-offer spread. The order may be executable only in conjunction with a counterorder that trades with the first order and includes a commitment to make a two-way market in the financial instrument at the predetermined bid-offer spread. In certain embodiments, when the first order is received from a first entity and the counterorder is received from a second entity, the method may also include receiving a bid price and an offer price from a second entity. The method may also include receiving an instruction from the first entity to select one of the bid and the offer and to execute a trade therewith.

Abstract: Systems and methods for implementing trading and matching are provided. A system includes a database configured to store financial instrument information and a memory configured to store execution instructions. A processor executes the instructions. The processor may initiate a trading session. The processor may receive instructions. The instructions may include either a buy or sell position and a price. The buy or sell position may not be for display to other broker clients. In response to a trade command from one of a plurality of other broker clients, the instructions may require sending an electronic notification to the first broker client that one of the plurality of broker clients has submitted a counter order that is capable of executing a trade with the first broker's buy or sell position.

Abstract: A computer-implemented method of trading an interest, which includes executing a trade for the interest between counterparties, locking the interest for further executions, providing an opportunity to the counterparties to work-up the trade, providing an opportunity to a trader not a counterparty to the trade to join in the trade, receiving a request from the trader to join the trade; and joining the trader in the trade.

Abstract: Systems and methods for implementing post-matching trading are provided. A financial instrument transaction system may include a database configured to store financial instrument information for reference entities; a memory for storing execution instructions; and a processor. The processor may execute the instructions. The processor may initiate a trading session for a predetermined duration. Prior to and during the trading session, the processor may receive from a plurality of trader clients trading instructions associated with the reference entity. The instructions may include either a buy or sell position and a price. At the end of the trading session, the processor may determine, based on predefined criteria, whether the trading session qualifies for a post-matching session. If the trading session qualifies for a post-matching session, the processor may provide a graphical user interface to a selected group of traders for trading in the post-matching session.

Abstract: A method of trading a foreign currency option on an electronic trading system may include executing a trade of the foreign currency option between a buyer and a setter, locking the trading system with respect to the traded foreign currency option, querying the buyer whether the buyer desires to buy or sell additional volume of the option, querying the seller whether the seller desires to sell or hay additional volume of the option, and authorizing additional participants to join the trade and querying the additional participants whether each of the additional participants desires to buy or sell a volume of the option.

Abstract: Systems and methods for implementing post-matching trading are provided. A financial instrument transaction system may include a database configured to store financial instrument information for reference entities; a memory for storing execution instructions; and a processor. The processor may execute the instructions. The processor may initiate a trading session for a predetermined duration. Prior to and during the trading session, the processor may receive from a plurality of trader clients trading instructions associated with the reference entity. The instructions may include either a buy or sell position and a price. At the end of the trading session, the processor may determine, based on predefined criteria, whether the trading session qualifies for a post-matching session. If the trading session qualifies for a post-matching session, the processor may provide a graphical user interface to a selected group of traders for trading in the post-matching session.

Abstract: A method of trading a foreign currency option on an electronic trading system may include executing a trade of the foreign currency option between a buyer and a setter, locking the trading system with respect to the traded foreign currency option, querying the buyer whether the buyer desires to buy or sell additional volume of the option, querying the seller whether the seller desires to sell or hay additional volume of the option, and authorizing additional participants to join the trade and querying the additional participants whether each of the additional participants desires to buy or sell a volume of the option.

Abstract: Systems and methods for implementing post-matching trading are provided. A financial instrument transaction system may include a database configured to store financial instrument information for reference entities; a memory for storing execution instructions; and a processor. The processor may execute the instructions. The processor may initiate a trading session for a predetermined duration. Prior to and during the trading session, the processor may receive from a plurality of trader clients trading instructions associated with the reference entity. The instructions may include either a buy or sell position and a price. At the end of the trading session, the processor may determine, based on predefined criteria, whether the trading session qualifies for a post-matching session. If the trading session qualifies for a post-matching session, the processor may provide a graphical user interface to a selected group of traders for trading in the post-matching session.

Abstract: Systems and method of enabling trading in currencies are provided. A method of trading a foreign currency option on an electronic trading system according to the invention may include executing a trade of the foreign currency option between a buyer and a seller, locking the trading system with respect to the traded foreign currency option, querying the buyer whether the buyer desires to buy or sell additional volume of the option, querying the seller whether the seller desires to sell or buy additional volume of the option, and authorizing additional participants to join the trade and querying the additional participants whether each of the additional participants desires to buy or sell a volume of the option. The method may also include starting a countdown timer and displaying the timer on the graphical user interface of the buyer, the seller and the additional parties and receiving buy and sell orders from the at least one of the buyer, the seller and additional participants.

Abstract: Systems and method of enabling trading in currencies are provided. A method of trading a foreign currency option on an electronic trading system according to the invention may include executing a trade of the foreign currency option between a buyer and a seller, locking the trading system with respect to the traded foreign currency option, querying the buyer whether the buyer desires to buy or sell additional volume of the option, querying the seller whether the seller desires to sell or buy additional volume of the option, and authorizing additional participants to join the trade and querying the additional participants whether each of the additional participants desires to buy or sell a volume of the option. The method may also include starting a countdown timer and displaying the timer on the graphical user interface of the buyer, the seller and the additional parties and receiving buy and sell orders from the at least one of the buyer, the seller and additional participants.

Abstract: Systems and method of enabling trading in currencies are provided. A method of trading a foreign currency option on an electronic trading system according to the invention may include executing a trade of the foreign currency option between a buyer and a seller, locking the trading system with respect to the traded foreign currency option, querying the buyer whether the buyer desires to buy or sell additional volume of the option, querying the seller whether the seller desires to sell or buy additional volume of the option, and authorizing additional participants to join the trade and querying the additional participants whether each of the additional participants desires to buy or sell a volume of the option. The method may also include starting a countdown timer and displaying the timer on the graphical user interface of the buyer, the seller and the additional parties and receiving buy and sell orders from the at least one of the buyer, the seller and additional participants.

Abstract: Systems and method of enabling trading in currencies are provided. A method of trading a foreign currency option on an electronic trading system according to the invention may include executing a trade of the foreign currency option between a buyer and a seller, locking the trading system with respect to the traded foreign currency option, querying the buyer whether the buyer desires to buy or sell additional volume of the option, querying the seller whether the seller desires to sell or buy additional volume of the option, and authorizing additional participants to join the trade and querying the additional participants whether each of the additional participants desires to buy or sell a volume of the option. The method may also include starting a countdown timer and displaying the timer on the graphical user interface of the buyer, the seller and the additional parties and receiving buy and sell orders from the at least one of the buyer, the seller and additional participants.