Trading of illiquid goods, services, instruments or commodities
AssigneeCfph, LLC
InventorPhilip Myron Ginsberg
Life of this patent
Estimating the term…
Abstract
Traders are notified of a computed tradeable price for an object of commerce. The computed tradeable price is calculated by a computer in conformance to a standard published to traders in a market for the object of commerce. The standard specifies rules for calculating the tradeable price based on orders received or trades executed in the market. Based at least in part on the computed tradeable price, trades are executed or negotiated, or negotiating offers are exchanged among the traders.
Claims21
A method comprising the steps of:
- notifying traders of a computed tradeable price for an object of commerce, the computed tradeable price calculated by a computer in conformance to a standard published to traders in a market for the object of commerce, the standard specifying rules for calculating the tradeable price based on orders received or trades executed in the market;
- executing or negotiating trades, or receiving negotiating offers, based at least in part on the computed tradeable price;
- and
- before executing a trade, obtaining confirmation from a trader who entered one of the orders involved in a trade to be executed, the order having a price other than the computed tradeable price.
A method performed by a computer apparatus, comprising the steps of:
- receiving notification of a computed tradeable price for an object of commerce, the computed tradeable price calculated by a computer operating a market for the object of commerce in conformance to a standard published to traders in the market, the standard specifying rules for calculating the tradeable price based at least in part on orders received and/or trades executed in the market, the market computer being operated by a broker for arranging trades between principals;
- and
- communicating with other traders in the market to negotiate trades in the object of commerce, or to send negotiating offers for trades in the object of commerce, based at least in part on the computed tradeable price.
One or more computer apparatus with nontransitory memory containing programs to cause the computer(s) to:
- transmit notification of a computed tradeable price for an object of commerce from a market computer being operated by a broker for arranging trades between principals to a trader's computer, the computed tradeable price calculated in conformance to a standard published to traders in the market, the standard specifying rules for calculating the tradeable price based at least in part on orders received and/or trades executed in the market;
- and
- communicate negotiating messages among traders in the market to negotiate trades in the object of commerce, or to send negotiating offers for trades in the object of commerce, based at least in part on the computed tradeable price.
Dependencies are inferred from the claim text.