Interprogram communication using messages related to groups of orders

Abstract

A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described.

1 . (canceled) 
     
     
         2 . A method comprising:
 controlling, by at least one processor of a first computing device:
 receiving, via a communication network, from a first remote computing device, a first message indicating a first order, in which the first order defines a first side of a first trade for a first financial instrument, 
 receiving, via the communication network, from a second remote computing device, a second message indicating a second order, in which the second order defines a second side of a second trade for a second financial instrument, 
 determining that an order management system of a participant includes a third order that defines an opposite side to the second side of the second trade for the second financial instrument, 
 rendering, via the communication network, on a display of at least the first and second remote computing devices, a graphical user interface indicating an indication of a time period; 
 transmitting, via the communication network, a first message to a second computing device of the participant requesting an acceptance to enter into the first trade and the second trade; 
 querying a socket of the communication network to determine whether a second message indicating the acceptance is received, 
 rejecting a request to cancel the second order, received via the communication network from the second remote computing device, when a given response from the second computing device has not been received via the socket during the time period, and 
 in response to receiving the second message, executing the first trade and the second trade; and 
   in which the second remote computing device is configured to control:
 receiving the first message from the first computing device, 
 in response to receiving the first message, providing a request for the acceptance to an operator of a given computer, 
 receiving an indication of a positive response from the operator, and 
 in response to receiving the positive response, transmitting the second message to the first computing device. 
   
     
     
         3 . The method of  claim 2 , in which the second order is one of a plurality of possible second orders received by the first computing device, in which each of the plurality of possible second orders defines a respective second side of a respective second trade for a respective second financial instrument, and
 further comprising controlling, by the at least one processor, determining whether the order management system includes matching orders for each of the plurality of possible second orders.   
     
     
         4 . The method of  claim 2 , further comprising controlling, by the at least one processor, receiving an indication of the first order and an indication of the second order as a single electronic message. 
     
     
         5 . The method of  claim 2 , in which the determining includes transmitting, via the communication network, respective second queries to a participant system of a buy-side participant and a plurality of other participant systems of other buy-side participants each associated with other order management system indicating a second request asking whether the respective order management system includes the third order. 
     
     
         6 . The method of  claim 5 , in which each second query and the second request are transmitted in a single electronic message. 
     
     
         7 . The method of  claim 5 , in which the determining includes receiving an indication of the acceptance. 
     
     
         8 . The method of  claim 2 , in which the first trade and the second trade are for a quantity of the respective financial instruments valued at a substantially similar amount. 
     
     
         9 . The method of  claim 2 , in which an indication of the second order in the second message includes an indication of at least one criteria. 
     
     
         10 . The method of  claim 9 , further comprising controlling, by the at least one processor, selecting the second financial instrument based on the at least one criteria. 
     
     
         11 . The method of  claim 10 , in which the at least one criteria includes at least one of: an industry, an instrument type, or a market capitalization. 
     
     
         12 . The method of  claim 10 , in which an indication of the second order in the second message includes an indication of a dollar amount, and
 further comprising controlling, by the at least one processor, determining a quantity for the second order based on the dollar amount.   
     
     
         13 . The method of  claim 12 , in which the indication of the dollar amount includes an indication of a dollar amount associated with the first order. 
     
     
         14 . The method of  claim 13 , in which the indication of the dollar amount associated with the first order includes an indication of a quantity of the first financial instrument. 
     
     
         15 . The method of  claim 2 , further comprising controlling, by the at least one processor, determining the time period. 
     
     
         16 . The method of  claim 2 , in which the first computing device is part of an electronic exchange. 
     
     
         17 . The method of  claim 2 , wherein the graphical user interface includes a counting down clock for indicating the indication of the time period. 
     
     
         18 . The method of  claim 2 , further comprising controlling, by the at least one processor, rendering, via the communication network on the graphical user interface of the display of the first and second remote computing devices, an indication whether the time period has passed.