System and method for exchange and transaction processing for fixed income securities trading

A fixed income securities trading framework for facilitating the negotiation and exchange of fixed income securities over an open network between a plurality of participants wherein, the trading framework comprises: a bond network having a search engine, a rule datastore, a pricing engine, a transaction engine and a fixed income securities database comprised a plurality of bids and offers; a pair of participants where at least one participant is a liquidity provider; and a datastore; wherein at least one of the search engine and the transaction engine correlates criteria defined by one of the participants to the bond database as requested by the participant and where at least one of the search engine and the transaction engine interact with the rules datastore on each of the participant request within the bond network; and wherein the bond network enables the participants to transact against one of a bid or offer posted in the fixed income securities database so as to facilitiate the exchange of fixed income securities between the participants.