Abstract: In one aspect, the present invention provides an order slicer that receives an order that to trade a financial instrument. The order associates a trading strategy with said order. The trading strategy is replaceable. In another aspect, an interface accepts a trading strategy of an order to trade a financial instrument. A transmitter transmits the trading strategy to an order slicer.

Abstract: An execution concentrator is interposed in a communications network for handling information concerning securities transactions or the like, that concentrator acting to transmit transaction information to the trader or the like at such times and in such details as may be most convenient or efficient to the recipient, independently of the timing and details of the actual transaction.

Abstract: Real time or near real time assessment of the quality of securities transactions is accomplished by intercepting order and execution communications between trader and broker, comparing the execution data with contemporaneous market data relative to the transaction or transactions involved, and informing the trader of that comparison. This is accomplished without interrupting or impeding the trader-broker communications, except that a broker-trader communication may, if desired, be interrupted and relevant data aggregated until the aggregate reaches a desired value. It is preferred that the comparison be between the volume-weighted average price of the securities transaction and the volume-weighted average price of the market data for that security, over the life of the order. A particular effective way to communicate the quality evaluation to the trader is disclosed.

Abstract: An integrated input device which comprises: a contact sensor capable of producing an analog signal indicative of the location of the position which is touched; an A/D converter capable of receiving the analog signal output from the contact sensor and converting it to a digital signal; a computer capable of receiving the digital signal output from the converter, interpreting the digital signal and transmitting a digitized video signal in response to the digital signal; a video connector capable of receiving the digitized video signal output from the computer; and a display which is capable of receiving the output from the video connector.