Matching computer of a negotiated matching system

A matching computer of a negotiated matching system, the matching computer in communication with trading terminals via a communications network, the matching computer comprising:

• a processor;
• and
• a computer-readable medium in communication with the processor, the computer-readable medium having computer-readable instructions stored thereon instructing the processor to perform steps comprising:
• receiving first trading parameters for a trading instrument from a first trader via a first trading terminal, the first trading parameters comprising at least a first price for the trading instrument;
• receiving first trading parameters for the trading instrument from a second trader via a second trading terminal, the first trading parameters from the second trader comprising at least a second price for the trading instrument;
• matching the first trading parameters from the first and second traders to identify the first trader and the second trader as potential counterparties for a tentative trading transaction, the matching occurring anonymously with respect to the potential counterparties;
• after the step of matching, notifying the potential counterparties of the tentative trading transaction via the communications network, the step of notifying including automatically revealing to the potential counterparties the identity of the potential counterparties so that they may negotiate second trading parameters for the trading instrument, the second trading parameters comprising outstanding terms of the tentative trading transaction;
• receiving information indicating agreement between the potential counterparties of all trading parameters of the tentative trading transaction;
• and
• after the step of receiving information, completing the transaction between the counterparties to permit settlement of the completed transaction.