Systems and methods for facilitating electronic securities transactions

Abstract

Systems and methods for facilitating securities transactions are shown. In one embodiment, the method provides receiving a collection of order information from one or more order management systems, such that the order information for each order includes a security name and a side, searching for matching contra order information within the collection of order information, such that each matching contra information includes a buy side order information and a sell side order information, sending at least one side of the matching contra order information to at least one user workstation, and displaying the at least one side of the matching contra order information to a user.

We claim: 
     
         1 . A system for facilitating security transactions comprising:
 an order management system interface programmed to:
 receive a collection of order information from a plurality of order management systems, wherein each order information in the collection of order information includes a security name and a side; 
 search for a matching contra order information within the collection of order information; wherein the matching contra order information includes a buy side order information and a sell side order information; 
 send at least one side of the matching contra order information; 
   at least one user workstation programmed to:
 receive the at least one side of the matching contra order information; and 
 display the at least one side of the matching contra order information to a user. 
   
     
     
         2 . The system of  claim 1  wherein the buy side order information includes a timestamp. 
     
     
         3 . The system of  claim 2  wherein the sell side order information includes a timestamp. 
     
     
         4 . A system for facilitating security transactions comprising:
 a memory module;   a processor programmed to:
 send a order information to an electronic trading marketplace, wherein the order information includes a name and a side; 
 receive a requested quantity value from the electronic trading marketplace, wherein the requested quantity value corresponds to a quantity of shares in a matched contra-interest; 
 determine an available quantity of shares for the order information; 
 send a commitment message to the electronic trading marketplace if the requested quantity value is less than or equal to the available quantity of shares; and 
 send a deny trade message to the electronic trading marketplace if the requested quantity value is greater than the available quantity of shares. 
   
     
     
         5 . The system of  claim 4  wherein the processor is programmed to send the commitment message to the electronic trading marketplace, and the commitment message includes a binding order specifying a total quantity of committed shares. 
     
     
         6 . The system of  claim 4  wherein the processor is programmed to send a cancel message to the electronic trading marketplace if the available quantity of shares has fallen below a user defined variable. 
     
     
         7 . A method for facilitating security transactions, comprising:
 receiving, on a first computer, a collection of order information from a plurality of order management systems, wherein each of the order information in the collection of order information includes a security name and a side;   determining, with the first computer, a matching contra order information based on at least one of the order information in the collection of order information, wherein the matching contra order information includes a buy side order information and a sell side order information;   sending at least one side of the matching contra order information to a second computer; and   displaying the at least one side of the matching contra order information on the second computer.   
     
     
         8 . The method of  claim 7  wherein the buy side order information includes a timestamp. 
     
     
         9 . The method of  claim 7  wherein the sell side order information includes a timestamp. 
     
     
         10 . A method for facilitating security transactions comprising:
 sending, with a computer, a order information to an electronic trading marketplace, wherein the order information includes a name and a side;   receiving, with the computer, a requested quantity value from the electronic trading marketplace, wherein the requested quantity value corresponds to a quantity of shares in a matched contra-interest;   determining, with the computer, an available quantity of shares for the order information;   generating, with the computer, a commitment message if the requested quantity value is less than or equal to the available quantity of shares;   generating, with the computer, a deny trade message if the requested quantity value is greater than the available quantity of shares; and   sending, with the computer, the commitment message or the deny trade message based on the requested quantity value.   
     
     
         11 . The method of  claim 10  wherein the commitment message includes a binding order specifying a total quantity of committed shares. 
     
     
         12 . The method of  claim 10  further comprising generating a cancel message if the available quantity of shares has fallen below a user defined variable, and sending the cancel message to the electronic trading marketplace.