Systems and methods for processing of multi-order market transactions based on visible and reserve sizes and generation of order identifiers for the same

A computer-implemented method for processing of electronic trades comprising:

• receiving, by at least one processor via a network interface circuit, a request to submit a first order from a first user for an asset, the first order being an iceberg order and the request to submit the first order including a first target price, a hidden quantity of the iceberg order, and a visible amount of the iceberg order;
• storing, by the at least one processor, a first representation of the first order in an order book within a memory, the first representation of the first order including a first exchange order identifier that is unique to the first order stored in the order book within the memory;
• receiving, by the at least one processor via the network interface circuit, a request to submit a second order from a second user for the asset, the request to submit the second order including a second target price and a second order quantity;
• determining, by the at least one processor that the first representation of the first order stored in the order book within the memory satisfies at least a portion of the second order based on the second target price of the second order being equal to the first target price of the first order and execute a trade based on the first order;
• determining, by the at least one processor, a reclip condition for the iceberg order of the first order based on the executed trade and the first representation of the first order stored within the order book, wherein the reclip condition is determined based on the visible amount of the iceberg order of the first order being zero following the executed trade and the hidden quantity being greater than zero;
• and
• storing, by the at least one processor, a second representation of the first order within the order book in the memory during an atomic transaction based on determining the reclip condition, the second representation including the first exchange order identifier and a second exchange order identifier, the second exchange order identifier being different than the first exchange order identifier and unique to the first order stored within the order book.

A non-transitory computer-readable medium having a plurality of instructions stored thereon that when executed by at least one processor cause a process to be performed, the process comprising:

• receiving, via a network interface circuit, a request to submit a first order from a first user for an asset, the first order being an iceberg order and the request to submit the first order including a first target price, a hidden quantity of the iceberg order, and a visible amount for the iceberg order;
• storing a first representation of the first order in an order book within a memory, the first representation of the first order including a first exchange order identifier that is unique to the first order stored in the order book within the memory;
• receiving a request to submit a second order from a second user for the asset, the request to submit the second order including a second target price and a second order quantity;
• determining that the first representation of the first order stored in the order book within the memory satisfies at least a portion of the second order and execute a trade based on the first order;
• determining a reclip condition for the iceberg order of the first order based on the executed trade and the first representation of the first order stored within the order book, wherein the reclip condition is determined based on the visible amount of the iceberg order of the first order being zero following the executed trade and the hidden quantity being greater than zero;
• and
• storing a second representation of the first order within the order book in the memory during an atomic transaction based on determining the reclip condition, the second representation including the first exchange order identifier and a second exchange order identifier, the second exchange order identifier being different than the first exchange order identifier and unique to the first order stored within the order book.