Single-period auctions network decentralized trading system and method
AssigneeScale Semiconductor FLG, L.L.C.
InventorArman Glodjo
Life of this patent
Estimating the term…
Abstract
A method and system serve for network dealing for conducting single-period auctions where there is one seller and at least one buyer, but typically multiple buyers. The method and system allow for posting of at least one or multiple items offered for sale on a network by a computer at the seller interconnected to other computers on the network. Bids are submitted by buyers for the items offered for sale with the seller requiring predetermined information about the buyer submitting bids before determining a selling price. The seller applies a selected set of criteria to strike out bids the seller does not wish to consider and applies a seller determined criteria to determine the price at which the seller is willing to sell the item(s).
Claims21
1-27. (canceled)
A method, comprising:
- during a single auction period conducted by a first credit-extending entity, communicating with entities over one or more computer networks to trade with an offeror, the communicating including:
- receiving, at a computer system associated with a second credit-extending entity, an offer to trade at least one item with the offeror;
- conveying the offer to a plurality of entities to which the second credit-extending entity has extended credit;
- receiving, at the computer system, two or more bids on the offer from two or more bidding entities of the plurality of entities, wherein individual ones of the received bids are within one or more corresponding stored trading limits set by the second credit-extending entity for the bidding entities;
- conveying the received two or more bids;
- and
- after the single auction period concludes, receiving information, at the computer system, indicating whether at least one of the conveyed two or more bids was matched at a computed closing price.
A first computer system associated with a first credit-extending entity, comprising:
- one or more processors;
- memory storing program instructions executable by the first computer system, using the one or more processors, to cause the first computing system to:
- receive an offer to bid on at least one item during a single-period auction conducted by a second credit-extending entity;
- convey, during the single-period auction, the offer to a plurality of entities to whom the first credit-extending entity has extended credit;
- receive, during the single-period auction, two or more bids from the plurality of entities in response to the conveyed offer;
- convey, during the single-period auction, one or more of the bids received from the plurality of entities to a second computer system;
- after the close of the single-period auction, receive information indicating matched ones of the conveyed one or more bids.
A method, comprising:
- receiving, at a computer system of a first credit-extending entity, an offer to bid on one or more items as part of an Internet-based, single-period auction conducted by a second credit-extending entity;
- re-conveying the offer to a group of entities to whom the first credit-extending entity has a direct credit relationship;
- receiving, at the computer system, a plurality of bids on the offer from the group of entities, wherein the plurality of bids includes at least one bid originating from an entity not within the group of entities but to whom one of the group of entities has directly or indirectly extended credit.
Dependencies are inferred from the claim text.