Abstract: Protections against self-matching trade orders are disclosed which maximize liquidity/efficiency by reducing/minimizing unnecessary cancelations and/or resubmissions. Rather than automatically cancel or modify the incoming and/or self-matching counter orders, those resting counter orders, which would result in the occurrence of a self-match with an incoming order, are placed in a hold state or otherwise set aside such that the incoming order may be matched with other non-self-matching orders. The held orders are subsequently returned to the order book at the same, or different, priority to await a subsequent incoming order.