| CPC G06Q 40/04 (2013.01) [G06Q 30/0234 (2013.01)] | 18 Claims |
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1. A method of prioritizing orders in a first-in first-out (FIFO) order queue in an exchange computer system comprising one or more processors configured to perform operations of an order routing system, an order matching system, and a prioritization engine, the method comprising:
receiving, by the exchange computer system, a stream of incoming data that encode, using a communication protocol implemented over transmission control protocol/Internet Protocol (TCP/IP), transaction requests submitted from one or more remote computing devices, wherein the exchange computer system comprises the order routing system, the order matching system, and the prioritization engine configured to operate in tandem with the order routing system and the order matching system to process the stream of incoming data;
associating, by the exchange computer system using the one or more processors, a first transaction request with a first account, and a second, later received, transaction request with a second account such that the second transaction request is queued after the first transaction request in the FIFO order queue by the order matching system, wherein the stream of incoming data are decoded using the communication protocol to provide the first and second transaction requests;
determining, using the one or more processors and based on decoded information from the stream of incoming data, whether the first transaction request or the second transaction request has a transactional amount unknown to the one or more remote computing devices by the exchange computer system;
determining, using the one or more processors and based on decoded information from the stream of incoming data and rules stored in a database on the exchange computer system, whether the first account or the second account is a priority account;
automatically posting, by the prioritization engine using the one or more processors, the second transaction request at a first location of the FIFO order queue responsive to determining that (i) the second account is a priority account while and the first account is not a priority account, (ii) the transactional amount of the second transaction request is knowable to the one or more remote computing devices by the exchange computer system, and (iii) the first account has a volume of trades that is less than a threshold trade volume in a given time period;
identifying, by the order matching system using one or more of the one or more processors and based on the second transaction request, a matching transaction request;
accessing, by the order routing system using one or more of the one or more processors, the FIFO order queue;
routing, by the order routing system using one or more of the one or more processors in response to the identifying of the matching transaction request and the accessing of the FIFO order queue, the second transaction request for execution by the exchange computer system ahead of the first transaction request; and
transmitting, by the exchange computer system using the one or more processors and to at least one of the one or more remote computing devices and through the order routing system and the order matching system, fill information for the second transaction request encoded using the communication protocol.
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