Computer trading system for offering custom financial market speculations

A computer trading system for determining a calculated value for a user defined contract on at least one future characteristic of a financial market, comprising:

• a network interface;
• and
• a processor in communication with the network interface, the processor operable to:
• receive via the network interface one or more parameters from a user, the one or more parameters defining a user defined contract on the at least one future characteristic of the financial market;
• receive via the network interface financial market data concerning the financial market;
• calculate a value for the user defined contract that will be offered to the user so that the user can purchase the user defined contract at the value, the value calculated based on the one or more parameters and the financial market data;
• transmit via the network interface the calculated value to the user;
• and
• receive via the network interface an order for the user defined contract from the user based on the calculated value and the one or more parameters to thereby form the user defined contract and create an obligation for a bookmaker to pay a payout upon the occurrence of the at least one future characteristic of the financial market satisfying the one or more parameters.

A method for a customer to place an order with a bookmaker for a customer defined contract on at least one future characteristic of a financial market, comprising:

• obtaining one or more parameters from the customer via a customer terminal, the one or more parameters defining a customer defined contract on the at least one future characteristic of the financial market;
• determining a calculated value for the customer defined contract that will be offered to the customer so that the customer can purchase the customer defined contract at the calculated value, the calculated value determined by a central processing machine based on the one or more parameters and financial market data concerning the financial market;
• and
• placing the order for the customer defined contract in response to receiving from the customer terminal a request from the customer based on the calculated value and the one or more parameters to thereby form the customer defined contract and create an obligation for the bookmaker to pay a payout upon the occurrence of the at least one future characteristic of the financial market satisfying the one or more parameters.

A method for facilitating speculation on at least one future characteristic of a financial market, comprising:

• receiving from a user terminal via a network one or more parameters for a proposed contract on at least one future characteristic of a financial market;
• transmitting to the user terminal via the network an indication of a value for the proposed contract, the value determined based on the one or more parameters and data concerning the financial market;
• and
• receiving from the user terminal via the network an order for the proposed contract, the order based on the value transmitted to the user terminal and the one or more parameters,
• thereby facilitating speculation on the financial market by allowing a user to define the proposed contract and order the proposed contract based on the value transmitted to the user terminal and the one or more parameters so that a contract is formed after the order is received and the user is eligible to receive a payout upon the occurrence of the at least one future characteristic of the financial market satisfying the one or more parameters.

A system for facilitating speculation on at least one future characteristic of a financial market, comprising:

• a network interface;
• and
• a processor in communication with the network interface, the processor configured to:
• receive from a user terminal via the network interface one or more parameters for a proposed contract on at least one future characteristic of a financial market;
• transmit to the user terminal via the network interface an indication of a value for the proposed contract, the value determined based on the one or more parameters and data concerning the financial market;
• and
• receive from the user terminal via the network interface an order for the proposed contract, the order based on the value transmitted to the user terminal and the one or more parameters,
• thereby facilitating speculation on the financial market by allowing a user to define the proposed contract and order the proposed contract based on the value transmitted to the user terminal and the one or more parameters so that a contract is formed after the order is received and the user is eligible to receive a payout upon the occurrence of the at least one future characteristic of the financial market satisfying the one or more parameters.

A method for facilitating speculation on at least one future characteristic of a financial market, comprising:

• obtaining one or more parameters that define a contract on at least one future characteristic of a financial market;
• obtaining from a data feed via a network interface financial market data concerning the financial market;
• calculating, by a processor, a value for the contract based on the one or more parameters and the financial market data concerning the financial market;
• and
• communicating the value to a computer in communication with a user so that the user can purchase the contract based on the value and the one or more parameters to thereby facilitate speculation on the financial market.

A system for facilitating speculation on at least one future characteristic of a financial market, comprising:

• a network interface;
• and
• a processor in communication with the network interface, the processor configured to:
• obtain one or more parameters that define a contract on at least one future characteristic of a financial market;
• obtain financial market data concerning the financial market from a data feed via the network interface;
• calculate a value for the contract based on the one or more parameters and the financial market data concerning the financial market;
• and
• communicate, via the network interface, the value to a computer in communication with a user so that the user can purchase the contract based on the value and the one or more parameters to thereby facilitate speculation on the financial market.