Inventors:
Robert Newhouse - New York NY, US
Chet Burros - New York NY, US
Ross Berman - New York NY, US
Hal Mintz - Mahwah NJ, US
International Classification:
G06Q 40/00
Abstract:
A system and method for trading securities that include at least one options leg is provided. The system generally includes a database, handlers, a network and at least one server. The database stores user information, security information and transaction information. The handlers receive information feeds from at least one public exchange. The at least one server implements an exchange facility that is capable of exchanging information with client terminals to allow the client to initiate at least one offer to trade a security having an option leg, identifying users interested in the offer, broadcasting the offer to the interested users and conducting a defined period auction among the interested users. The system and method also automatically cross the options legs on exchanges and facilitate negotiation when the auction is not consummated.