Products and processes for differentiating trading orders

Abstract

In various embodiments, a data signal differentiates between real and test trading orders and a computer system processes the orders based on differing values.

1 . A data signal transmitting to a trading and processing computer system indicating that an order is a test order, thereby instructing the trading and processing computer system to process said test order differently from a real order such that no transaction with said test order occurs. 
     
     
         2 . The signal of  claim 1  wherein said signal includes said test order. 
     
     
         3 . A data signal transmitting to a trading and processing computer system comprising a flag value, a data format, or account information, and an order, wherein said flag value, said data format, or said account information indicates that an order is a test order, thereby instructing the trading and processing computer system to process said test order differently from a real order such that no transaction with said test order occurs. 
     
     
         4 . A data signal indicating whether a test order was matched, transmitted from a trading and processing computer system to an originator of said test order. 
     
     
         5 . A data signal indicating whether a test order was executed, transmitted from a trading and processing computer system to an originator of said test order. 
     
     
         6 . A data signal indicating that a test order was not matched, transmitted from a trading and processing computer system to an originator or said test order, said data signal also indicating either (1) at least one of price, time of execution, or creditworthiness of a closest order in price, time of execution, or creditworthiness or (2) difference between at least one of price, time of execution, or creditworthiness of said closest order to said test order. 
     
     
         7 . A trading and processing computer system designed to trade instruments and process real orders and test orders, and designed to transmit the data signal defined by any one of  claims 1  and  3 - 7 .