Traditional hierarchical Service Level Management (SLM) frameworks fail to cope with the challenges imposed by the runtime dynamics of Service Oriented Architectures (SOA). This paper presents an approach for coordinating autonomous management components for SOA services, which focuses on optimizing the overall response time of a workflow: management components can either tighten or loosen their individual response time objectives by trading response time shares with other participating components in a way that does not affect the globally defined SLA. Trading of response times is based on an auctioning protocol.