Computer system and method for speculating on a financial market

A computer system for speculating on a financial market, comprising:

• an input component for accepting from a user one or more parameters the one or more parameters defining a custom contract on at least one future characteristic of the financial market;
• a transmission component in communication with the input component for
• transmitting the one or more parameters over a communication network to a trading system to calculate a value for the custom contract based on the one or more parameters and data regarding the financial market and
• receiving the calculated value from the trading system via the communication network;
• and
• a display component in communication with the transmission component for presenting to the user the calculated value for the custom contract,
• wherein the user can purchase the custom contract via the input component based on the presented calculated value to thereby create an obligation for a bookmaker to pay a payout amount upon the occurrence of the at least one future characteristic of the financial market satisfying the one or more parameters.

A computer system for speculating on a financial market, comprising:

• an input device;
• a display;
• a network interface;
• and
• a processor in communication with the input device, the display, and the network interface, the processor operable to:
• accept via the input device one or more parameters from a user, the one or more parameters defining a custom contract on at least one future characteristic of the financial market;
• transmit via the network interface the one or more parameters to a trading system to calculate a value for the custom contract based on the one or more parameters and data regarding the financial market;
• receive via the network interface the calculated value for the custom contract;
• display the calculated value for the custom contract on the display;
• accept via the input device an order for the custom contract in response to the displayed calculated value;
• and
• transmit via the network interface the order to the trading system, thereby creating an obligation for a bookmaker to pay a payout amount upon the occurrence of the at least one future characteristic of the financial market satisfying the one or more parameters.