Systems and methods are described herein for supporting the trading of
bonds in a computerized system using broker dealers as intermediaries.
Broker dealers receive orders relating to particular transactions and
have the option to accept the order by submitting a matching counter
order, or to rebroker the order with the same or modified terms to a
number of other investors or additional broker dealers. The additional
broker dealers have similar options, thus providing a system wherein
orders can be quickly proliferated to a large number of parties. This
order proliferation can be fully or partially automated through the use
of predefined rules stored in a database which dictate for each broker
dealer whether, to whom and under what terms to rebroker orders. When an
order is received, the system processes all such rules to output a set of
orders which are then communicated to the corresponding parties.