A order matching system which allows users to define and modify buy/sell
order schedules for execution within one or more transaction
destinations. The system uses order schedules and associated evaluation
heuristics to evaluate and update order characteristics such as price and
quantity based on user-specified criteria. The matching system comprises
a user interface which can be connected over the internet to various
transaction destinations through a schedule manager and a transaction
order interface. The user interface provides users with the ability to
obtain information concerning the status of their order account as well
as the ability to enter or modify their order schedules. The order
manager uses a schedule supervisor server to maintain a database
containing order schedules and order status information and to execute
variable evaluations on the basis of these order schedules and associated
evaluation heuristics. The order manager also uses a transaction
supervisor server to monitor the status of order fills and to update the
database periodically. The transaction order interface receives and
communicates information messages between various transaction
destinations and the schedule manager. In this way, the order matching
system allows users to specify the ways that various terms and conditions
at which they are willing to transact may change over time in an
automated fashion while still retaining the ability to intervene at any
time.