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System and method for using a trader list in an electronic trading system relaying trading orders having a reservation size
System and method for using a trader list in an electronic trading system relaying trading orders having a reservation size
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机译:用于在电子交易系统中使用交易者名单的系统和方法,以中继具有保留大小的交易订单
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摘要
A system for managing trading orders comprises a memory operable to store a trade credit associated with a trader. The system further comprises a processor operable to receive a trading order from the trader and determine the trade credit associated with the trader. If the received trading order is a passive trading order, the processor is further operable to increase the trade credit and submit the received trading order for execution. If the received trading order is an aggressive trading order, the processor is further operable to calculate a decrease of the trade credit. If subtracting the calculated decrease from the trade credit would not cause the trade credit to be less than a configurable threshold, the processor is further operable to submit the received trading order for execution and subtract the calculated decrease from the trade credit. If subtracting the calculated decrease from the trade credit would cause the trade credit to be less than the configurable threshold, the processor is further operable to prevent the execution of the received trading order.
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