Abstract: Systems, methods, and programs consistent with the present invention link markets for different fungible assets and different transaction types, allowing a participant to create and execute contingent orders across markets. Embodiments consistent with the invention provide an automated framework for participants to create a group of discrete orders for different fungible assets in different markets, including markets for different types of transactions. The automated framework manages execution of the group of discrete orders, linking them together in a contingent fashion such that all the discrete orders are filled or none are filled. In one embodiment, the discrete orders are all executed at approximately the same time.

Abstract: Systems, methods, and programs consistent with the present invention create a market for lenders and borrowers to negotiate, create, and service collateral-secured loans of differing structures. Embodiments consistent with the invention provide an automated framework for borrowers and lenders to create offers to borrow and/or lend a specified quantity of a specified asset for a specified term at a specified interest rate using a specified quantity of another specified fungible asset as collateral. Borrowers and lenders receive information on the loan market, such as the best offers to lend and the best offers to borrow, and can formulate their own offers accordingly. If an offer to lend and an offer to borrow are compatible, a loan transaction may be automatically initiated between the lender and borrower. Ongoing loan transactions may be automatically serviced throughout the loan's life according to the negotiated terms of the loan.