Abstract: The present invention is systems and methods for trading. In accordance with these systems and methods, a plurality of trader work stations that are connected to a central server may be provided. Through the work stations and central server, the systems and methods may perform participant qualification, instrument creation, bid/offer entry and response, when hit and take, workup, price retention, price improvement, request for market, bid/off restoration, price generation, position conversion, marking to market, and delivery functions.

Abstract: Methods and systems for accessing prospectus data are provided. These methods and systems utilize electronically readable media incorporated into a printed financial prospectus to provide access to data in an electronic format. A suitable device may then be used to read data from the electronically readable media and store the data on a computer system. The information provided by the prospectus therefore contains both human-readable and electronically readable information. The data may be provided in a summary form, in a standardized form, or in any other suitable form in order to facilitate subsequent analysis of the data. The data may also be encrypted while stored in the electronically readable media.

Abstract: Systems and methods for linking orders in electronic trading systems are provided. These systems and methods enable a trader to select two or more items that are to be linked and specify linking parameters for those items. Any desired set of items may be linked, and the linking parameters may include price adjustments, order sequencing instructions, automatic/manual execution controls, execution delays commands, and update frequency limits. Upon detecting a bid or offer for a linked item, the systems and methods may then determine a size and a price for each linked item based upon the size and the price of the bid or offer for the first linked item. In this way, the sizes and the prices for the other linked items may be propagated from the size and the price for the first item. Once the size and the price for each item is determined, the systems and methods may submit orders for the items in accordance with the linking parameters.

Abstract: The present invention is systems and methods for trading. In accordance with these systems and methods, a plurality of trader work stations that are connected to a central server may be provided. Through the work stations and central server, the systems and methods may perform participant qualification, instrument creation, bid/offer entry and response, when hit and take, workup, price retention, price improvement, request for market, bid/off restoration, price generation, position conversion, marking to market, and delivery functions.

Abstract: Systems and methods for real-time interactive wagering on event outcomes are presented. Clients are first qualified and given wagering limits before being allowed to interactively wager on event outcomes. Event outcomes may be based on, for example, financial markets and indices, sporting and entertainment events, casino performances, and natural phenomena such as weather and earthquakes. Events on which wagers can be placed include both those with known and unknown outcome probabilities, and wagers can be a fixed-odds type or a spread-bet type. Wager transactions, including acceptances and confirmations, are executed in real time. Clients can customize displays of events on which they are authorized to wager. Real-time client credit management, automatic dealer hedging, automatic price-spread adjustments, and automatic client and dealer defined wagering limits are also provided.

Abstract: The present invention is systems and methods for implementing commission allocations in transaction management of auction-based trading for specialized items such as fixed income instruments. In accordance with these systems and methods, a plurality of workstations that are connected to a server, and a structured commission allocation protocol may be provided. Through the workstations, the server and the commission allocation protocol, the systems and methods may allocate commissions or fees when trading securities at accelerated levels with minimal errors and costs, control commission elements during real-time trading, reward customers and brokers who participate in transactions, and distribute commission and transaction data in real time.

Abstract: Systems and methods for buying and selling durable good futures contracts on a futures market trading interface is provided. The futures market trading interface provides a trader with an ability (i.e., a buyer or a seller) to establish, monitor and control a durable good futures contract. The trading interface may provide options to buy and/or sell a durable good futures contract. In addition, the trading interface may provide options for monitoring relevant futures market information and activity for the durable good futures contract.

Abstract: A data processing system receives a continuous stream of real time transactional data regarding market transactions of fixed income securities. The incoming data is qualified and then used to determine the term structure of interest rates based on price information. The system provides linear interpolation techniques to complete an operative data set. This set is updated with current trade data, with term structure shifting using pivot points from newly qualified data. An index value for a pre-select portfolio of securities is then calculated and expressed in terms of price relative to par, yield to maturity and duration. In a specific implementation using U.S. Treasuries as the monitored security, the index value supports an automated trading function for futures and/or options contracts based on the change in value of the index. The index provides a more accurate barometer of market changes and a more useful tool in measuring portfolio management for plan sponsors.

Abstract: An automated underwriting auction processor is presented. States, municipalities, and other non-federal authorities issue municipal securities to an underwriter or syndicate of underwriters during an underwriting period. The underwriters then trade the securities in a secondary market. The efficiency and fairness of this process is improved using a networked system, which includes multiple computers or workstations, connected to an automated auction processor. The processor provides issuers and participants equal real-time access to the underwriting process. Moreover, the automated auction processor provides a universal underwriting protocol to ensure that only qualified issuers and participants are allowed to participate. This results in a fair and more efficient underwriting process compared to the traditional sealed-bid auction and negotiated underwriting processes.

Abstract: Systems and methods for real-time interactive wagering on event outcomes are presented. Clients are first qualified and given wagering limits before being allowed to interactively wager on event outcomes. Event outcomes may be based on, for example, financial markets and indices, sporting and entertainment events, casino performances, and natural phenomena such as weather and earthquakes. Events on which wagers can be placed include both those with known and unknown outcome probabilities, and wagers can be a fixed-odds type or a spread-bet type. Wager transactions, including acceptances and confirmations, are executed in real time. Clients can customize displays of events on which they are authorized to wager. Real-time client credit management, automatic dealer hedging, automatic price-spread adjustments, and automatic client and dealer defined wagering limits are also provided.

Abstract: Systems and methods for anonymous electronic trading that allow a trader to hide his or her identity and inhibit trading interactions are provided. Using these systems and methods, a trader can, using various trading interfaces, control a level of trading anonymously and configure warnings that are provided to protect against inadvertent completion of potential-risk-involved trades.