Systems and methods for protecting against erroneous price entries in the electronic trading of financial and other instruments

A system comprising:

• a display device;
• at least one processor and a memory electronically coupled to the at least one processor, the memory having software stored thereon that when executed by the at least one processor directs the at least one processor to:
• display on the display device a plurality of real-time bid and ask prices that are based on real-time electronic transactions executed among a plurality of networked devices;
• receive a trade command to bid or offer at least one price specified from the plurality of bid and ask prices being displayed on the display device;
• determine whether the at least one price has changed due to a velocity of the real-time electronic transactions executed among the plurality of networked devices;
• determine whether the change in price has occurred within a predetermined period of time from receipt of the trade command due to the velocity of the real-time electronic transactions;
• automatically in response to a determination that a market is moving at a type of pace which is indicated by real-time electronic market data, rendering, on the display device, a popup window displaying a second price resulting from the change in price to the at least one price with an indication that the market is moving at the type of pace;
• and
• in response to determining that an amount of the change in price from the at least one price within the predetermined period of time from receipt of the trade command satisfies a specified condition selected at a graphical user interface of the display device, automatically display a prompt requesting a choice between submission of at least a portion of the trade command at the second price and cancellation of the trade command.