Method and system for rebrokering orders in a trading system

In a computerized system for trading of fixed income securities, a method for facilitating execution of a financial transaction based upon an order communicated by a first investor, the method comprising:

• presenting an order to a broker dealer arising from the order communicated by the first investor;
• allowing the broker dealer to decide, among other possible choices, whether to match the presented order or communicate an order relating to the financial transaction to a plurality of other parties using the system;
• if the broker dealer decides to match the presented order, executing the financial transaction by at least executing the presented order and the order communicated by the first investor;
• and
• if the broker dealer decides to communicate the order, communicating the order to the one or more other parties.

At least one storage medium containing one or more computer programs operable to cause a computerized system to facilitate execution of a financial transaction between a first party and a second party through a plurality of intermediaries, the computerized system being operable under control of the program to carry out actions comprising, for each intermediary involved in the financial transaction:

• presenting to the intermediary an order received by the intermediary relating to the financial transaction;
• storing information for identifying a list of other parties in a memory accessible to the intermediary;
• displaying the list to the intermediary;
• allowing the intermediary to select one or more parties from the list to which the intermediary can communicate an order relating to the financial transaction;
• and
• communicating the order from the intermediary to the one or more selected parties.