MATCH-OFF OF ORDER FLOW IN ELECTRONIC MARKET SYSTEM

A market system that includes an internal execution process is described. The system includes an order execution process that receives orders and matches orders against quotes posted in the system on a time priority basis and an order match-off process that checks if a market participant identificat...

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Bibliographic Details
Main Authors MALITZIS, JOHN, SERKIN, STUART
Format Patent
LanguageEnglish
Published 31.10.2002
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Summary:A market system that includes an internal execution process is described. The system includes an order execution process that receives orders and matches orders against quotes posted in the system on a time priority basis and an order match-off process that checks if a market participant identification associated with a received order matches a market participant identification representing a quote in the system that is at the best bid or best offer price in the system.