Negotiated right exchange system and method

A negotiated exchange for facilitating transactions between potential counterparties and enabling communication between the parties to negotiate the terms of the transaction, said system comprising:

• a central computer;
• a plurality of remote terminals corresponding to a plurality of users, said remote terminals enabling said users to enter transaction data into the system;
• and
• a communications network for transmitting negotiating messages between pairs of said remote terminals in response to control signals from a respective one of the remote terminals;
• wherein a party associated with a transaction is anonymous until communications are established through said communications network, for transmitting negotiating messages.