1

A method for a Self Regulated Organization to calculate and attribute quote share credits to its members comprising the steps of:a. storing in an order book inputted trading data for a trading days the trading data including at least one displayed order;

b. dividing the entire trading day into one-second intervals;

c. identifying a displayed order that was on the order book for one full second or more at a beginning of one or more one-second interval, wherein a price of said displayed order is equal to the price of the NBBO, and wherein said order does not lock or cross a market;

d. calculating quote credits of said identified displayed order by multiplying the price times the quantity of said displayed order at each interval; and

e. storing said quote credits by date, member, and symbol on a computer readable medium.

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2

A method to calculate quote credits comprising the steps of:a. receiving inputted trading data for a predetermined interval, the trading data including a plurality of messages indicating status of a displayed order, wherein each message includes a timestamp;

b. determining a plurality of sub-intervals within the interval;

c. process a first message indicating a displayed order at a best price has been placed and parsing the timestamp of the first message to extract a first time value corresponding to the sub-interval;

d. processing a second message indicating the order has been existent at the best price for at least one sub-interval by parsing the timestamp of the second message to extract a second time value corresponding to the sub-interval and comparing the first time value with the second time value; and

e. calculating a credit by multiplying the best price by the quantity of the order by the number of sub-intervals the order has been at the best price.

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3

The method according to Claim 2, wherein the predetermined interval is a trading day.

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4

The method according to Claim 2 wherein the sub-intervals are sufficiently long to reduce the effect of flickering quotes.

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5

The method according to Claim 2 wherein the sub-interval is one second.

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6

A method for determining quote credits comprising the steps of:a. storing a plurality of messages representing orders to trade a quantity of a financial instrument at a price, the messages including a timestamp;

b. retrieving a first message and determining a current best price corresponding to the message timestamp;

c. determining that the price of the first message is equal to the current best price;

d. retrieving a second message and determining that the price of the second message is equal to the current best price;

e. determining a difference in time between the timestamp of the first message and the timestamp of the second message; and

f. if the difference in time is greater than a predetermined interval, computing a revenue allocation value based on the difference in time and the trade prices of the first and second messages.

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7

The method according to Claim 5 wherein the predetermined interval is one second.

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8

A computerized system for attributing quote share credits for a Self Regulated Organization comprising:a first memory;

input trading data for a trading day stored in the first memory, wherein the input trading data includes at least one displayed order;

a processor connected to the first memory;

a first algorithm operable by the processor for dividing the trading day into one-second intervals and for identifying a displayed order that was on the order book for one full second or more at a beginning of one or more of the one-second intervals at a price equal to an NBBO price and that does not cross or lock a market; and

a second algorithm operable by the processor for calculating quote credits for the identified displayed order by multiplying the price times the quantity of the order at each one-second interval, wherein the processor stored the calculated quote credits in the memory.

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