Negotiated matching system

A negotiated matching system for identifying potential counterparties to a transaction and enabling communication between the parties to negotiate the terms of the transaction, said system comprising:

• a matching computer;
• a plurality of remote terminals corresponding to a plurality of users, said remote terminals enabling said users to enter transaction data and ranking data into the system;
• and
• a communications network for transmitting negotiating messages between two or more of said remote terminals in response to control signals from said matching computer;
• wherein said matching computer is coupled to said plurality of remote terminals by said communications network and matches potential counterparties to a transaction by comparing said transaction data and filtering said transaction data using said ranking data, said matching computer generating said control signals in response to an identified match.

A method of identifying potential counterparties to a transaction, comprising the steps of:

• receiving ranking data and transaction data from a plurality of remote terminals corresponding to a plurality of potential counterparties to a type of transaction;
• filtering said transaction data using said ranking data to identify for each user transactions with potential counterparties who are mutually acceptable based on said ranking data, thereby matching potential counterparties to a transaction;
• and
• transmitting negotiating messages between said potential counterparties, thereby enabling said potential counterparties to negotiate terms of said transaction.

In a negotiated matching system for identifying potential counterparties to a transaction and enabling communication between the parties to negotiate the terms of the transaction, said system including a matching computer, a plurality of terminals corresponding to a plurality of users, and a communications network for transmitting negotiating messages between two or more of said terminals in response to control signals from said matching computer, said matching computer generating said control signals in response to an identified match of at least some transaction data, at least one of said terminals comprising:

• a transaction data entry device enabling one of said users to enter transaction data;
• a communications circuit for communicating with at least said matching computer over said communications network, said communications circuit communicating at least some of said transaction data to said matching computer;
• and,
• a receiving circuit for receiving from said matching computer at least an indication that potential counterparties to a transaction exist as based on said identified match.

A negotiated matching system for identifying potential counterparties to a transaction and enabling communication between the parties to negotiate the terms of the transaction, said system comprising:

• a matching 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;
• wherein said matching computer is coupled to said plurality of remote terminals by said communications network, matches potential counterparties to a transaction by comparing said transaction data, and enables communication between said potential counterparties in response to an identified match.

A method of identifying potential counterparties to a transaction, comprising the steps of:

• receiving transaction data from a plurality of remote terminals corresponding to a plurality of potential counterparties to a type of transaction;
• matching at a matching computer said potential counterparties as based on said transaction data;
• and,
• in response to a match, transmitting negotiating messages between said potential counterparties, thereby enabling said potential counterparties to negotiate terms of said transaction.

A negotiated matching system comprising:

• a matching computer for executing transactions between counterparties;
• a plurality of remote terminals corresponding to a plurality of users, said remote terminals enabling said users to enter fixed trading parameters into the system;
• and,
• a communications network for enabling communication between said remote terminals and said matching computer;
• said matching computer having:
• a detection system for identifying potential counterparties to a potential transaction based upon said fixed trading parameters,
• a notification system for notifying the potential counterparties identified by said detection system of the potential transaction,
• a communication enablement system for enabling communication between the potential counterparties detected by said detection system in order to negotiate variable trading parameters for the potential transaction, and
• a trade execution system for executing said potential transaction when said variable trading parameters are received from the potential counterparties and for canceling said potential transaction when the potential counterparties do not agree on said variable trading parameters.

A method of executing transactions between counterparties, comprising the steps of:

• identifying potential counterparties to a potential transaction based upon fixed trading parameters,
• notifying the identified potential counterparties of the potential transaction,
• enabling communication between the identified potential counterparties in order to negotiate variable trading parameters for the potential transaction, and
• executing said potential transaction when said variable trading parameters are received from the potential counterparties, otherwise canceling said potential transaction when the potential counterparties do not agree on said variable trading parameters.