In a computerized trading system, at least one passive order from a liquidity provider is placed on a book of orders. An order received from a liquidity consumer is held for a holding period. During the holding period the order from the liquidity consumer is checked and information relating to the received order from the liquidity consumer is sent to eligible ones of one or more liquidity providers. If, during the holding period, changes to the orders on the book of orders are made by the liquidity providers, those orders are modified on the book and the book of orders is revised. Upon expiration of the holding period, the order from the liquidity consumer is matched with orders that remain on the book after any revisions.