Abstract: An intermediary system, between broker and client systems receives, from the broker system, an electronic message including an indication of interest (IOI) to execute a trade. The intermediary system identifies an interest of a trader in the trade of the IOI and routes the electronic message to the trader's client system. The identified interest is undisclosed by the trader to the broker and intermediary systems but is inferred based on the trader's trading activity (e.g., the trader's blotter data). The intermediary system routes the electronic message including the IOI to the client system and responds to an indication that the trader triggered an action at the client system to execute the trade by causing the order to fill.

Abstract: The system and methods for optimizing the effectiveness of interaction between participants in an electronic trading environment are disclosed. In one embodiment, the system monitors and tracks certain variables at several levels (e.g., firm, trader, trade desk, symbol, side, order type) for each participant in the system, updates the values of the variables in real time and/or over longer periods. From the values of the variables, the system assigns individual and composite scores to each trader, symbol or side or any composite of these and other variables. For every interaction in the trading environment, the scores and variables are used to determine how a trader interacts with a contra trader when their respective scores are compared, including determining permissioning and timing of sending invitations to trade, permissioning and timing of receiving invitations to trade and/or execution of the trade.

Abstract: A system and method are described and disclosed that are used for effecting large block trades of securities in an automated and anonymous matter in which fair pricing is carried out using features of the National Best Buy Offer (“NBBO”). The automated trading the system and method also will carry out negotiations to effect a trade in certain circumstances, though the preferred method of effecting trades is by automated trading. However, regardless of the trading method, anonymity of the trading counterparties is preserved. The system and method also tests the NBBO for each of the traded securities to ensure it is valid before an automated trade may take place.

Abstract: A system and method are described and disclosed that are used for effecting large block trades of securities in an automated and anonymous matter in which fair pricing is carried out using features of the NBBO. The automated trading the system and method also will carry out negotiations to effect a trade in certain circumstances, though the preferred method of effecting trades is by automated trading. However, regardless of the trading method, anonymity of the trading counterparties is preserved. The system and method also tests the NBBO for each of the traded securities to ensure it is valid before an automated trade may take place.

Abstract: A system and method are described and disclosed that are used for effecting large block trades of securities in an automated and anonymous matter in which fair pricing is carried out using features of the NBBO. The automated trading the system and method also will carry out negotiations to effect a trade in certain circumstances, though the preferred method of effecting trades is by automated trading. However, regardless of the trading method, anonymity of the trading counterparties is preserved. The system and method also tests the NBBO for each of the traded securities to ensure it is valid before an automated trade may take place.

Abstract: A system and method are described and disclosed that are used for effecting large block trades of securities in an automated and anonymous matter in which fair pricing is carried out using features of the NBBO. The automated trading the system and method also will carry out negotiations to effect a trade in certain circumstances, though the preferred method of effecting trades is by automated trading. However, regardless of the trading method, anonymity of the trading counterparties is preserved. The system and method also tests the NBBO for each of the traded securities to ensure it is valid before an automated trade may take place.