Method and system for training traders

Abstract

Systems and methods are provided which enable students to participate in a simulated, electronic trading environment. The concept is one where the eSpeed rules based system and GUI may be used to educate students on the trading of financial products. The system may be “live” using real-time information and held either in a private virtual community (i.e. intra-school) or a wider community (i.e. inter-school). Fixed rules may be pre-programmed into the system or modified/customized by the participants. Participants may access the simulation via the Internet or any applicable method of communicating information among more than one computer. The products traded in the simulation may include any simulated fixed income financial product. However, the simulation may not involve trading real financial products where there would be real financial risks. Simulated trading may be compared to real-world trading to create new financial products that may be tested and traded in the system.

1 - 34 . (canceled) 
     
     
         35 . A method comprising:
 simulating, by at least one processor, a trading market;   providing, by the at least one processor, a fixed income product to be traded within the market;   assigning, by the at least one processor, an amount of the fixed income product to a first broker;   assigning, by the at least one processor, an amount of simulated funds to a second broker; and   providing, by the at least one processor, a medium within the market to trade the fixed income product for an amount of simulated funds determined by the first broker and the second broker.   
     
     
         36 . An apparatus comprising:
 a processor; and   a memory having instructions stored thereon which, when executed by the processor, direct the at least one processor to:
 cause a graphical user interface (GUI) to be displayed to a first trader; 
 receive an indication to sell a simulated fixed income product from a first trader; 
 receive an indication to buy the simulated fixed income product from a second trader; and 
 coordinate the indications from the first and second traders to exchange the simulated fixed income product. 
   
     
     
         37 . The system of  claim 36 , wherein the processor is adapted to respond to a request for information. 
     
     
         38 . The system of  claim 36 , wherein the GUI comprises a trading window for a trader to input a trade request. 
     
     
         39 . The system of  claim 36 , wherein the GUI comprises any combination of downloadable spreadsheet, table, chart, graph or any method of depicting financial information. 
     
     
         40 . The system of  claim 36 , wherein the GUI displays sell orders and ask prices. 
     
     
         41 . The system of  claim 36 , wherein the GUI displays buy orders and bid prices. 
     
     
         42 . The system of  claim 36 , wherein the GUI displays information relating to a transaction. 
     
     
         43 . The system of  claim 36 , wherein the GUI displays simulated market information. 
     
     
         44 . The system of  claim 36 , wherein the GUI displays real market information. 
     
     
         45 . The system of  claim 36 , wherein the GUI displays product information. 
     
     
         46 . The system of  claim 36 , wherein the processor matches requests to buy and sell products. 
     
     
         47 . The system of  claim 36 , wherein the processor processes real-time product information for products in the simulated market. 
     
     
         48 . The system of  claim 36 , wherein a data transmission medium transmits and received indications between traders, a market information source, and the processor. 
     
     
         49 . The system of  claim 36 , wherein the processor processes real-time product information for products in a real market. 
     
     
         50 . The system of  claim 36 , wherein the processor processes real-time market information for the simulated market. 
     
     
         51 . The system of  claim 36 , wherein the processor processes real-time market information for a real market. 
     
     
         52 . The system of  claim 36 , wherein the processor calculates the price of derivates based on pricing disparities between the simulated market and a real market. 
     
     
         53 . A method for creating products in a simulated market, the method comprising:
 comparing, by a processor, product information from the simulated market with product information from a real market for substantially similar products; and   creating, by the processor, derivative products based on pricing disparities between said simulated market and said real market.