Commission calculator and display

Abstract

Commission allocations in transaction management of auction-based trading for specialized items such as fixed income instruments. A plurality of workstations that are connected to a server, and a structured commission allocation protocol may be provided. Through the workstations, the server and the commission allocation protocol, the systems and methods may allocate commissions or fees when trading securities at accelerated levels with minimal errors and costs, control commission elements during real-time trading, reward customers and brokers who participate in transactions, and distribute commission and transaction data in real time.

The invention claimed is: 
     
         1 . A computerized device of an electronic transaction system, programmed to:
 presenting a user interface having an interactive region divided into a plurality of subregions, in which each subregion of the plurality of subregions is related to a specific financial instrument type;   receiving a selection through the interactive region indicating a plurality of financial instruments making up a multi-legged transaction for a financial instrument type in a first subregion of the plurality of subregions;   based on the selection, computing a total commission to trade in the multi-legged transation at least a part of the order with a counterparty customer;   automatically populating the user interface with data indicating the total commission;   receiving data representing an instruction to modify the order in a manner that influences the commission on the proposed trade; and   computing an updated commission based on the modification;   automatically populating the user interface with the updated commission based on the modification;   
       receiving an instruction through the user interface to submit the order with the updated commission; and 
       in response to receiving the instruction, submitting the order for execution. 
     
     
         2 . The computerized device of  claim 1 , wherein:
 the computation of commission is programmed to compute different commission amounts for the same order for different counterparty customers to whom the order is presented.   
     
     
         3 . The computerized device of  claim 1  wherein:
 the commission calculation is programmed to vary based on the type of transaction that is subject of varying orders. 
 
     
     
         4 . The computerized device of  claim 1 , wherein:
 the commission calculation is programmed to vary based on the order size.   
     
     
         5 . The computerized device of  claim 1  wherein the commission calculation is programmed to vary based on the dollar amount of the order on the transaction. 
     
     
         6 . The computerized device of  claim 1 , wherein:
 the order is a purchase and/or sale of securities.   
     
     
         7 . The computerized device of  claim 6 , wherein:
 the computation of commission is programmed to compute different commission amounts for the same order for different counterparty customers to whom the order is presented.   
     
     
         8 . The computerized device of  claim 6  wherein:
 the commission calculation is programmed to vary based on the type of transaction that is subject of varying orders. 
 
     
     
         9 . The computerized device of  claim 6 , wherein:
 the commission calculation is programmed to vary based on the order size.   
     
     
         10 . The computerized device of  claim 6  wherein the commission calculation is programmed to vary based on the dollar amount of the order on the transaction.