Interprocess communication facilitating sellside marketmaking

An electronic exchange platform comprising:

• at least one processor configured to control:
• receiving, over a communication network, a plurality of marketmaking orders for a side of trades for a financial instrument from each of a plurality of sellside participants in a market for the financial instrument;
• for each of the plurality of marketmaking orders, receiving, over the communication network, a respective list of approved buyside participants out of a plurality of buyside participants in the market for the financial instrument;
• in response to receiving the plurality of marketmaking orders, pegging a first price for each of the plurality of marketmaking orders to a price relative to and multiple ticks behind a best price on the side of trades in an order book for the market that is maintained by the electronic exchange platform, such that the first price for each of the plurality of marketmaking orders is in a pegged relationship with the best price;
• in response to receiving the plurality of marketmaking orders, populating, over the communication network, a respective interface of each buyside participant of the plurality of buyside participants with market information that includes information about a respective subset of the plurality of marketmaking orders for which the buyside participant has been identified as an approved buyside participant;
• receiving, over the communication network from a first buyside participant, a contra order to the plurality of marketmaking orders, in which the first buyside participant is approved to trade with a subset of the sellside participants and in which the contra order identifies a preferred sellside participant;
• in response to receiving the contra order, distributing the contra order first to orders in the order book according to a priority scheme that distributes liquidity first to orders at the best bid or offer counter to the contra order, second to marketmaking orders from the preferred sellside participant, third to a subset of marketmaking orders of the plurality of marketmaking orders that the first buyside participant is approved to trade against and whose sellside submitter has an order at the best bid or offer counter to the contra order, and fourth to marketmaking orders that the first buyside participant is approved to trade against and whose sellside submitter does not have an order at the best bid or offer counter to the contra order;
• automatically in response to the distributing of the contra order, determining new best bid and offer prices in the order book;
• and
• automatically in response to determining the new best bid and offer prices in the order book, without processing any order price adjustment information over the communication network from any of the sellside participants having respective remaining marketmaking orders of the plurality of marketmaking orders,
• removing latency by, at the electronic exchange platform, locally pegging an adjusted price to a new best price on the side of trades determined from the new best bid or offer prices, by adjusting the remaining marketmaking orders of the plurality of marketmaking orders to the adjusted price to retain the pegged relationship between the adjusted price of each of the remaining marketmaking orders and the new best price on the side of trades determined from the new best bid or offer prices, and
• populating, over the communication network, a respective interface of each given buyside participant of the plurality of buyside participants with the adjusted price for each of the remaining marketmaking orders for which the given buyside participant has been identified as an approved buyside participant.