Computerized trading system for trading financial instruments having a
communication network connecting traders dealing in financial instruments
and a plurality of trader terminals connected to the communication
network. The communication network comprises a credit store for storing
an indication of credit available from each credit granting entity, a
price distributor for distributing the price quotation messages to trader
terminal for display, a credit filter to filter the price quotation
messages to each trader terminal associated with at least one credit
granting entity.