Systems and methods are provided for executing a hedge transaction in
connection with the execution of a derivative product order in which the
price of the derivative product is defined by one or more variables. The
hedge transaction may be executed at an exchange or match engine that is
different from the exchange or match engine executing the derivative
product order. The execution of derivative product transaction may be
contingent on the existence of an appropriate hedge transaction.
Alternatively, a best efforts approach may be used to fill the hedge
transaction order after executing the derivative product transaction.