Large liquidity seeking trading platform

An electronic system for executing trades according to one or more enforcement policies, comprising:

• one or more specialized computers, in communication with one or more external electronic exchanges over at least one network, comprising computer-readable instructions stored on a non-transitory computer-readable storage medium and executed by at least one processor, said computer readable instructions defining an order manager and an execution manager, each of said order manager and said execution manager comprising a computer program module including computer program logic, said computer-readable instructions, when executed by the at least one processor, causing the one or more computers to:
• receive, at the one or more computers, a multipart order that is delta neutral, the multipart order comprising a plurality of orders, each order in the plurality of orders specifying at least a financial instrument, a quantity, a side, and a limit price;
• determine, from the received multipart order, a display price for the side based at least in part on the quantity and the limit price of at least one order of the plurality of orders of the multipart order;
• receive an inbound order comprising execution instructions for controlling executing, by the one or more specialized computers, said inbound order and specifying at least the financial instrument, said inbound order further comprising an inbound quantity, an inbound side, and an inbound limit price, the inbound side opposite from the side of each order of the plurality of orders of the multipart order;
• compare, by the order manager, the inbound quantity to an order quantity threshold;
• determine, by the order manager, an execution price for one or more trades based on at least one of the comparison, the order quantity threshold, the display price, the inbound limit price and the limit price of each order of the plurality of orders of the multipart order;
• enforce, by the execution manager, at least one policy by further causing the one or more computers to:
• monitor one or more away best bid-offer (BBO) prices at the one or more external electronic exchanges via the at least one network;
• determine whether the execution price is a worse price than the monitored one or more away BBO prices, wherein the worse price comprises a lower price if the inbound order has a sell side and a higher price if the inbound order has a buy side;
• compare the execution instructions to one or more restrictions of the at least one policy, said one or more restrictions relating to said determination of whether the execution price is the worse price;
• and
• implement said execution instructions subject to the one or more restrictions of the at least one policy being enforced by the execution manager, said implement comprising:
• match, by the order manager, one or more orders of the plurality of orders of the multipart order to the inbound order, the match based, at least in part, on limit prices of the received multipart order;
• and
• execute, by the order manager, the one or more trades between the inbound order and the one or more matched orders according to the execution instructions, only to an extent to which all execution instructions associated with the multipart order do not violate the one or more restrictions of the at least one policy, wherein at least a portion of said execution instructions do violate the one or more restrictions, the execution manager enforcing the at least one policy by executing the one or more trades in a manner that is contrary to the execution instructions, and wherein the execution manager enforces the at least one policy over operation of the order manager.