Central credit filtering in computerized trading

A method of providing credit-filtered market data in a computerized system for trading over a network financial interests having a future financial exposure, the method comprising:

• for each of a plurality of future time periods with respect to a trading session, providing in a memory device at or prior to a start of the trading session, a credit value designated by each of a pair of potential counterparties for trading with each other, financial interests having a financial exposure to each of the pair of counterparties in the respective future time periods;
• and
• during the trading session, providing for display to at least one of the trading parties over the network of a proposed trade between the pair of potential counterparties of a financial interest having a financial exposure to each of the potential counterparties in a future time period if the financial exposure to each of the potential counterparties of the financial instrument in the future time period, expressed in terms compatible with the credit value in the memory device for the future time period, is less than the lesser of the credit values provided in the memory device for each of the potential counterparties for the future time period.

A method of providing credit-filtered market data in a computerized system for trading foreign exchange forwards contracts over a network, the method comprising:

• for each of a plurality of future time periods with respect to a trading session, providing in a memory device, at or prior to a start of the trading session, a credit value designated by a trading party for trading foreign exchange forwards contracts between the trading party and at least one counterparty having a forwards leg in a future time period;
• and
• during the trading session, displaying a proposed trade over the network between the trading party and the at least one counterparty of a foreign exchange forwards contract for a given currency pair having a forward leg in a future time period if the size of the proposed trade, expressed in a currency compatible with the credit value in the memory device for the future time period, is less than the credit value in the memory device for the future time period.

A method of providing credit-filtered market data in a computerized system for trading over a network financial interests having a future financial exposure, the computerized system comprising a central computer linked by a network to a plurality of trading party stations, the method comprising:

• for each of a plurality of future time periods with respect to a trading session, providing in a memory device accessible by the central computer, a credit value designated by a trading party for trading between the trading party and at least one counterparty, financial interests having a financial exposure to the trading party in the respective future time periods;
• and
• during the trading session, the central computer providing for display to the at the trading party station of the trading party over the network of a proposed trade between the trading party and the at least one counterparty of a financial interest having a financial exposure in a future time period if the financial exposure to the trading party of the financial instrument in the future time period, expressed in terms compatible with the credit value in the memory device for the future time period, is less than the credit value in the memory device for the future time period.

A system providing credit-filtered market data in computerized trading over a network of financial interests having a future financial exposure, comprising:

• a computer system comprising a central computer linked to a plurality of trading party stations by a network;
• a memory device, accessible by the central computer, storing for each of a plurality of future time periods with respect to a trading session, at or prior to a start of the trading session, a credit value designated by a trading party for trading between the trading party and at least one counterparty, financial interests having a financial exposure to the trading party in the respective future time periods;
• the central computer being programmed to provide for display to the trading party over the network, during the trading session, of a proposed trade between the trading party and the at least one counterparty of a financial interest having a financial exposure in a future time period if the financial exposure to the trading party of the financial instrument in the future time period, expressed in terms compatible with the available credit value in the memory device for the future time period, is less than the credit value in the memory device.

A system providing credit-filtered market data in computerized trading over a network of financial interests having a future financial exposure, comprising:

• a computer system comprising a central computer linked to a plurality of trading party stations by a network;
• a memory device, accessible by the central computer, storing for each of a plurality of future time periods with respect to a trading session, at or prior to a start of the trading session, a credit value designated by a trading party for trading between the trading party and at least one counterparty, financial interests having a financial exposure to the trading party in the respective future time periods and storing the credit value for each time period and each counterparty as a remaining credit value for use during the trading session;
• the central computer being programmed to provide for display to the trading party over the network, during the trading session, of a proposed trade between the trading party and the at least one counterparty of a financial interest having a financial exposure in a future time period if the financial exposure to the trading party of the financial instrument in the future time period, expressed in terms compatible with the remaining credit value in the memory device for the future time period, is less than the remaining credit value in the memory device.

A method of providing credit-filtered market data in a computerized system for trading financial interests over a network, the method comprising:

• providing in a memory device, a credit value designated by a trading party for trading between the trading party and at least one counterparty, financial interests having a financial exposure to the trading party in one or more present and/or future time periods;
• and
• during the trading session, providing for display to the trading party over the network of a proposed trade between the trading party and the at least one counterparty of a financial interest having a financial exposure in one or more of the time periods if the financial exposure to the trading party of the financial instrument in the one or more of the time periods, expressed in terms compatible with the credit value in the memory device for the one or more of the time periods, is less than the credit value in the memory device for the one or more of the time periods.