| CPC G06Q 40/04 (2013.01) | 16 Claims |
|
1. A method including:
setting by a computing device at a first electronic exchange a first order entry interval associated with a threshold that controls a duration of a first period associated with the first order entry interval, wherein the threshold is based on a total volume associated with trade orders to be received during the first order entry interval, wherein no orders received during the first order entry interval are matched until the first order entry interval expires;
initiating by the computing device the first period of the first order entry interval in response to receiving a plurality of trade orders including a first trade order during the first period corresponding to the first order entry interval;
determining by the computing device whether the total volume of the plurality of trade orders received during the first period satisfies the threshold associated with the first order entry interval;
detecting by the computing device an expiration of the first order entry interval when the threshold is satisfied;
starting by the computing device a matching interval after the expiration of the first order entry interval, wherein the matching interval includes a second period subsequent to the first period;
establishing a connection between the first electronic exchange and a centralized coordination hub and a second electronic exchange and the centralized coordination hub, wherein the first electronic exchange and the second electronic exchange are in communication with the centralized coordination hub;
receiving, at the centralized coordination hub, first electronic exchange market information data from the first electronic exchange, wherein the first electronic exchange market information data comprises the first trade order;
receiving, at the centralized coordination hub, second electronic exchange market information data from the second electronic exchange, wherein the second electronic exchange market information data comprises one or more opposing trade orders placed at the second electronic exchange; and
matching by a matching engine at the centralized coordination hub the first trade order, during the matching interval, with the one or more opposing trade orders from the second electronic exchange, the first trade order having a same price as the one or more opposing trade orders.
|