Method and system for collecting and using market data from various sources

A computer device comprising one or more processors, the computer device configured to execute computer executable instructions stored in a non-transitory memory, the computer executable instructions being configured, when executed by the one or more processors, to generate one or more graphical user interfaces comprising:

• a messaging interface configured to:
• display an unstructured plain text message received from a counterparty computer device in real time, the unstructured plain text message comprising a derivative contract description,
• automatically highlight at least a portion of text in the unstructured plain text message corresponding to structure and quote data, the automatic highlighting based on matching one or more strings of characters in the unstructured plain text message with a list of expressions;
• and
• a quote console interface configured to:
• display the structure and quote data in a normalized standard format in real time,
• receive, via data entry fields, input comprising one or more of entering, editing, matching, and cancelling the structure and quote data, and
• receive, via the data entry fields, a selection instruction, which automatically triggers a set of operations that cause the one or more processors to automatically:
• determine, based on information stored in a database corresponding to the counterparty computer device, a preferred data format of the counterparty computer device, the preferred data format being different from the standard data format, and
• translate the structure and quote data and the input into the preferred data format;
• the messaging interface further configured to:
• generate a plain text message comprising the preferred data format, and
• transmit the plain text message to the counterparty computer device using a communications protocol out of one or more communication protocols, the communications protocol chosen based on an availability of the counterparty device to receive the one or more communication protocols.