Automated fixed income trading

A method for providing credit authorization for automated trading of fixed income securities, the method comprising:

• monitoring a client access an automated fixed income trading system via an electronic communications network;
• receiving data from the client related to an order for a fixed income security;
• referencing a credit limit for the client placing the order;
• calculating a level of credit extended to the client inclusive of an amount necessary to execute the order;
• transmitting approval to execute the order;
• receiving confirmation of an executed order;
• and
• transmitting details of the executed order to a settlement system.

A computer system for providing fixed income trading via a computerized network, the system comprising:

• a computer server accessible with a network access device via a communications network;
• and
• executable software stored on the server and executable on demand, the software operative with the server to cause the system to:
• transmit data relating to trading fixed income securities;
• receive an instruction to buy or sell a fixed income security;
• transmit a live order from an anonymous trader, wherein the live order is related to the instruction to buy or sell a fixed income security;
• and
• provide a commitment to market liquidity related to the live order.

Computer executable program code residing on a computer-readable medium, the program code comprising instructions for causing the computer to:

• transmit data relating to trading fixed income securities;
• receive an instruction to buy or sell a fixed income security;
• transmit a live order from an anonymous trader, wherein the live order is related to the instruction to buy or sell a fixed income security;
• and
• provide a commitment to market liquidity related to the live order.

A method for a client to interact with a network access device in order to complete a fixed income security transaction, the method comprising the steps of:

• interacting with a host computer on a computer communications network;
• viewing a data stream content via a graphical user interface, wherein the data stream content comprises an offer to buy or sell a fixed income security;
• transmitting an instruction to execute an anonymous trade relating to a specific fixed income security;
• and
• receiving a commitment to market liquidity relating to the specific fixed income security.

A computer data signal embodied in a digital data stream comprising data relating to a fixed income security transaction, wherein the computer data signal is generated by a method comprising the steps of:

• interacting with a host computer on a computer communications network;
• viewing a data stream content via a graphical user interface, wherein the data stream content comprises an offer to buy or sell a fixed income security;
• transmitting an instruction to execute an anonymous trade relating to a specific fixed income security;
• and
• receiving a commitment to market liquidity relating to the specific fixed income security.

A computer data signal embodied in a digital data stream comprising data relating to a fixed income security transaction, wherein the computer data signal is generated by a method comprising the steps of:

• transmitting data relating to trading a fixed income security;
• receiving information related to the sale of a fixed income security;
• transmitting a live order from an anonymous trader, wherein the live order is related to the information received;
• and
• providing a commitment to market liquidity related to the live order.