	US 7,590,585 B2
	Method and system for computer-implemented trading of secondary market debt securities
Brijesh Agarwal, Glen Ridge, N.J. (US); Rachel Moseley, Scarsdale, N.Y. (US); and Richard J. Schiffman, Tenafly, N.J. (US)
Assigned to MarketAxess Holdings Inc., New York, N.Y. (US)
Filed on Dec. 24, 2001, as Appl. No. 10/26,359.
Claims priority of provisional application 60/257807, filed on Dec. 22, 2000.
Prior Publication US 2002/0099646 A1, Jul. 25, 2002
Int. Cl. G06Q 40/00 (2006.01)

U.S. Cl. 705—37 [705/35; 705/36 R]

72 Claims

1. A method for providing computer-implemented trading for debt securities, comprising:

providing respective computer-generated interfaces for a plurality of dealers and a plurality of investors;

wherein a network enables messages to be exchanged between the dealer interfaces and the investor interfaces;

enabling the dealers to communicate an inventory of debt security issues to the investors via the investor interfaces;

enabling at least a particular investor to submit an inquiry, via the respective investor interface, for trading a particular one of the debt security issues to multiple ones of the dealers;

enabling the dealers to provide respective offers and/or bids, via their respective dealer interfaces, in response to the inquiry submitted thereto;

temporarily storing the offers and/or bids provided by the dealers;

releasing the offers and/or bids to the particular investor concurrently for consideration thereby; and

displaying to the plurality of investors the inventory of debt security issues on a standardized and sortable manner that are being offered and bid on by the plurality of dealers in a secondary resale market including issue identifier, coupon rate, details of each of the plurality of dealer bids and offers, the inside market, and the freshness of the indicated price, providing the plurality of investors information to determine in real-time which of the multiple dealers provides the best terms for a particular issue of interest.