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1. (WO2001039068) SYSTEM AND METHOD FOR TRADING AN INSTRUMENT

Pub. No.:    WO/2001/039068    International Application No.:    PCT/US2000/031313
Publication Date: Fri Jun 01 01:59:59 CEST 2001 International Filing Date: Thu Nov 16 00:59:59 CET 2000
IPC: G06Q 30/08
Applicants: GFI GROUP, INC.
Inventors: GOOCH, Michael
Title: SYSTEM AND METHOD FOR TRADING AN INSTRUMENT
Abstract:
A method and system for trading an instrument such as a financial instrument. A customer (50) generates a request for a price and provides data concerning the instrument. The price requested may be a price to buy (bid) or sell (offer) the instrument. The request is provided to a group of users (10, 30) via a communication network (60). Each user (10, 30) is capable of generating a price response to the request. The best price response generates a first indication to the user which provides such price response. All other users which provide a price response are provided with a second indication, which is different from the first indication and which does not include the best price. At any time, the customer may accept any pending response, amend the request, or cancel the request.