Abstract: The invention is a computer method and system that attempts to minimize the risk-adjusted cost of trading securities in a liquidity pool such as a crossing network or dark book. A mathematically optimal trade-out schedule or trajectory is used to remove shares incrementally over time from the liquidity pool and trade them out to other marketplaces. The trade-out schedule is optimal in that it minimizes the risk-adjusted cost of execution by considering factors such as a) the risk of failing to find a crossing counter-party for all or some of the quantity submitted to the liquidity pool and having to execute that quantity as a liquidity depleting order in other markets, b) the risk of adverse price movement, c) the expectation of adverse price movement, d) the cost of executing orders in other markets, and e) the potential cost savings of finding a cross in the liquidity pool. The quantity still remaining in the liquidity pool—the “reserve”—is available for crossing up to a specified discretionary limit.

Abstract: A system and method for receiving, organizing and displaying information received from a plurality of users, having a hierarchical database with at least one expandable level, at least one of the at least one expandable levels having at least two expandable sublevels; an interactive interface for placing each user at a level and sublevel in the database, receiving.