Computer implemented and/or assisted methods and systems for providing guaranteed, specified and/or predetermined execution prices in a guaranteed, specified and/or predetermined timeframe on the purchase or sale of, for example, listed options

A method of executing an order for a listed options contract at at least one of a guaranteed, specified and predetermined execution price and within at least one of a guaranteed, specified and predetermined timeframe using a computer, the method at least one of implemented and assisted by the computer and comprising at least one of the sequential, sequence independent and non-sequential steps of:

• processing the order by a first routing system to determine which of a plurality of option broker-dealers of a rapid execution consortium (REC) has an affiliate market-maker with step-up capability for the listed options contract on at least one options exchange;
• providing the order to one of the option broker-dealers of the REC that is determined to have an affiliate that is a market-maker with step-up capability for the listed options contract on at least one options exchange;
• and
• sending the order to an exchange on which at least one affiliate market-maker with step-up capability for the listed options contract operates for execution in accordance with a guaranteed, specified and/or predetermined execution price and timeframe.

A method of executing an order for a listed options contract at at least one of a guaranteed, specified and predetermined execution price and/or within at least one of a guaranteed, specified and predetermined timeframe using a computer, the method at least one of implemented and assisted by the computer and comprising at least one of the sequential, sequence independent and non-sequential steps of:

• receiving the order by a first broker-dealer;
• processing the order by a first routing system to determine a presence of a first affiliate market-maker of the first broker-dealer with step-up capability for the listed options contract on a first options exchange;
• when the first affiliate market-maker is present, sending the order by the first broker-dealer to the first options exchange for execution in accordance with at least one of a first guaranteed, specified and predetermined execution price and/or within at least one of a first guaranteed, specified and predetermined timeframe;
• and
• when the first affiliate market-maker is not present, sending the order to a second broker-dealer for execution in accordance with at least one of a second guaranteed, specified and predetermined execution price and/or within at least one of a second guaranteed, specified and predetermined timeframe upon a determination by at least one of the first routing system and a second routing system that there is a second affiliate market-maker of the second broker-dealer with step-up capability for the listed options contract on at least one of the first options exchange and a second options exchange.

A computer system executing an order for a listed options contract, comprising:

• means for receiving the order by a first broker-dealer;
• means for processing the order by a first routing system to determine a presence of a first affiliate market-maker of the first broker-dealer with step-up capability for the listed options contract on a first options exchange;
• means for sending the order by the first broker-dealer, if it is determined that the first affiliate market-maker is present, to the first options exchange for execution in accordance with at least one of a first guaranteed, specified and predetermined execution price and/or within at least one of a first guaranteed, specified and predetermined timeframe;
• and
• means for sending the order to a second broker-dealer, if it is determined that the first affiliate market-maker is not present, for execution in accordance with at least one of a second guaranteed, specified and predetermined execution price and/or within at least one of a second guaranteed, specified and predetermined timeframe upon a determination by at least one of the first routing system and a second routing system that there is a second affiliate market-maker of the second broker-dealer with step-up capability for the listed options contract on at least one of the first options exchange and a second options exchange.

A computer system executing an order for a listed options contract, comprising:

• an input device receiving the order by a first broker-dealer;
• a first processor determining a presence of a first affiliate market-maker of the first broker-dealer with step-up capability for the listed options contract on a first options exchange;
• and
• an order transmitter for sending the order by the first broker-dealer, if it is determined that the first affiliate market-maker is present, to the first options exchange for execution in accordance with at least one of a first guaranteed, specified and predetermined execution price and/or within at least one of a first guaranteed, specified and predetermined timeframe;
• wherein, if it is determined that the first affiliate market-maker is not present, the order transmitter sends the order to a second broker-dealer for execution in accordance with at least one of a second guaranteed, specified and predetermined execution price and/or within at least one of a second guaranteed, specified and predetermined timeframe upon a determination by at least one of the first processor and a second processor that there is a second affiliate market-maker of the second broker-dealer with step-up capability for the listed options contract on at least one of the first options exchange and a second options exchange.