System and Method for Selectively Directing Financial Transactions to Designated Parties
AssigneeMiami International Securities Exchange, LLC
InventorsShelly Brown, Richard Ross
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AssigneeMiami International Securities Exchange, LLC
InventorsShelly Brown, Richard Ross
Estimating the term…
A computerized trading platform for performing Enhanced Allocation of contracts from an order to Lead Market Makers depending on the number of contracts to be traded at a national best bid offer (NBBO). After all customer orders have been processed, lots of a small size order (SSO) will be preferentially directed to a Lead Market Maker without sharing. For each incoming order that is not a small size, if the Lead Market Maker is quoting at the NBBO, its participation entitlement is equal to the greater of (i) the proportion of the size of the LMM's quote to the total quote size at the LE-BBO, (ii) sixty percent (60%) of the contracts to be allocated if there is only one (1) other Market Maker quotation at the LE-BBO and (iii) forty percent (40%) of the contracts if there are two (2) or more other Market Maker quotations at the LE-BBO. For purposes of allocation, all Market Maker Priority interest at a certain price level shall be aggregated. Lead Market Makers may additionally be entitled to at least the small size order.
A computerized trading platform, comprising:
A computerized trading platform, comprising:
Dependencies are inferred from the claim text.