Systems and methods for processing full or partially displayed dynamic peg orders in an electronic trading system

A system for operating a priority queue within an electronic trading system, the system comprising:

• a first processor;
• and
• a first memory in electrical communication with the first processor, the first memory comprising instructions which, when executed by a processing unit at an electronic trading platform and comprising at least one of the first processor and a second processor, and in electronic communication with a memory module at the electronic trading platform and comprising at least one of the first memory and a second memory, program the processing unit to:
• divide a received dynamic peg order (DPO) for an item of interest into a displayed DPO portion having a display size, and a reserved DPO portion, the received DPO having a trading price that is a function of a market condition;
• configure in the memory module a memory structure comprising:
• (i) a first partition for maintaining a displayed queue, (ii) a second partition for maintaining a non-displayed queue, (iii) a first pathway prioritizing read access to the first partition over the second partition, and (iv) a second pathway selectively permitting write operation from the second partition into the first partition;
• and
• enter:
• into the displayed queue, the displayed DPO portion at a quoted price based on a current national best price, and
• into the non-displayed queue, the reserved DPO portion,
• wherein:
• the first pathway allows access to data in the second partition of the memory structure, the data being contained in the non-displayed queue only in response to a first condition comprising at least one of a price mismatch and a size mismatch, and
• permits transfer of data from the second partition of the memory structure, the data being contained in the non-displayed queue to the first partition of the memory structure for inclusion in the displayed queue only in response to a second condition comprising order execution and removal of data from the displayed queue or failure to execute a pending order due to a price or size mismatch.