Method for executing a cross-trade in a two-way wireless system
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United States of America Patent
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Jul 27, 2004
Issued Date -
N/A
app pub date -
Aug 1, 2002
filing date -
Sep 20, 1994
priority date (Note) -
Expired
status (Latency Note)
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Abstract
A method for executing a cross-trade. The method includes the steps of receiving at a computer carried by a floor broker a sell order for execution, the sell order concerning an instrument and including a first set of terms and also a buy order for execution, the buy order concerning the instrument and having a second set of terms which is compatible with the first set of terms. The method permits the floor broker to cross at least a portion of the buy order with the sell order using the computer and to selectively transmit to a remote computer the crossed portion of the buy and sell orders. As a result, a cross-trade is reported to the remote computer and executed.
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