VIRTUAL TRADER

A computer software platform consisting of a multi-market stock transaction terminal with a user interface for receiving stock market information and conducting transactions; a management/administration system consisting of computer terminals for market order that directs trading orders and calls with risk/liability/ control; a program for accessing stock markets as well as intermediary financial networks and entities; a protocol conversion program; programs for processing and distributing financial information; programs enabling connecting external systems to a central trading computer system; magnetic tapes for storing data and programs; a program information and host tandem computer with programs for receiving, processing, recording, and re-sending stock market information to internal applications in the central trading system

Financial information services that provide information about purchaser and sales prices of last transactions traded, traded volumes, price development, historical data regarding stocks and values integrated in multi-market trading transactions, which is received, processed and re-distributed to users in real time for confirmation, modifications, cancellations, and execution of orders from stock markets

Computer-aided transmission of messages and images and diffusion of information for stock market orders and transactions by means of TCP/IP standards