System and method for trading commodities and the like

• US 10,074,134 B2
• Filed: 10/23/2014
• Issued: 09/11/2018
• Est. Priority Date: 01/21/2000
• Status: Expired due to Fees

• Current Assignee: TradeCapture OTC Corp. (Intercontinental Exchange, Inc.)
• Original Assignee: TradeCapture OTC Corp. (Intercontinental Exchange, Inc.)
• Inventors: Annunziata, Vincent P.
• Primary Examiner(s): Ebersman, Bruce I
• Application Number:
  US14/522,378
• Publication Number:
  US 20150052039A1
• Time in Patent Office: 1,419 Days
• Field of Search: 705 35, 705 37
• CPC Class Codes: G06F 21/6254 by anonymising data, e.g. decorrelating personal data from the owner's identification
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 50/02 Agriculture; Fishing; Forestry; Mining

Abstract

A system for trading commodities and the like comprising a computer, a communications link between the computer and the Internet, a database, accessible by the computer, containing a plurality of user files wherein each of the user files contains a plurality of transaction parameters corresponding to one or more indications associated with the user file. The transaction parameters govern the presentation and acceptance of indications associated therewith. The system further includes a database, accessible by the computer, containing a plurality of indications wherein each of the indications contains information corresponding to open bids or offers for commodities, and an indication selection submitted by a user over the communications link. Software executing on the computer receives the indication selection, retrieves an indication corresponding to the indication selection from the indication database, queries a user file in the user database corresponding to the indication to determine transaction parameters associated with the indication, and presents the indication to the user in accordance with any determined transaction parameters.

Claims

1. A system for efficient data storage and retrieval comprising:

a computer;

a communications link between the computer and the Internet;

two or more independent computerized exchanges, each in communication with the computer and each comprising at least one processing device comprising memory and at least one processor executing instructions stored in the memory for transacting specified commodities among users of the system;

an indication database, accessible by the computer, storing a plurality of indications, the plurality of indications corresponding to each of the two or more computerized exchanges, the plurality of indications organized in the indication database according to one or more commodities to which the indications relate, each commodity associated with one of the two or more computerized exchanges;

a user database, accessible by the computer, storing a plurality of user files, wherein at least one user file among the plurality of user files is associated with a specified user among the users of the system, the at least one user file containing one or more exchange permissions associated with the specified user, the one or more exchange permissions granting, to the specified user, access to one or more specific exchanges among the two or more computerized exchanges and to one or more specific commodities within the one or more specific exchanges to which the specified user is granted access according to the one or more exchange permissions;

an interactive website for communication between the computer and the users of the system;

a display on a user device that is in communication with the computer, the display configured to present information from among and to the users of the system, the information including at least one of;

posted bids and offers on commodities, transaction negotiation information and consummated transaction information related to the commodities from among the two or more computerized exchanges,

the computer being configured to authenticate the specified user of the user device; and

software executing on the computer that causes the computer to control access to the two or more computerized exchanges by enforcing the one or more exchange permissions, said enforcing comprising executing instructions that further causes the computer to;

receive a transaction request from the specified user over the communications link,

query the user database for the at least one user file associated with the specified user to retrieve the one or more exchange permissions from the at least one user file,

identify the one or more specific commodities within the one or more specific exchanges to which the specified user has been granted access via the retrieved one or more exchange permissions,

retrieve one or more indications, related only to the one or more specific commodities to which the specified user has been granted access, from among the plurality of indications in the indications database by searching only the identified specific commodities among the one or more commodities in the indication database to which the specified user has been granted access, and

present the retrieved indications, via the display on the user device, to permit the specified user to interact with the retrieved indications.

2. The system of claim 1 wherein the display comprises designated web sites for each exchange among the two or more computerized exchanges.

3. The system of claim 1 wherein the plurality of indications contain information corresponding to open bids or offers for corresponding commodities among the one or more commodities.

4. The system of claim 1 further comprising software executing on the computer that causes the computer to:

generate a presentation that includes the retrieved indications, and

transmit the presentation to the user device of the specified user over the communications link.

5. The system of claim 1 further comprising software executing on the computer that causes the computer to:

provide exclusive viewing of any commodity among the one or more commodities associated with a particular exchange from among the two or more computerized exchanges to one or more users among the users of the system having respective exchange permissions corresponding to the particular exchange.

6. The system of claim 1 wherein at least one of the plurality of indications includes a transaction parameter configured to enable a submitter of an indication to reveal contact information to specific users among the users of the system that have been predetermined by the submitter.

7. The system of claim 4 wherein the computer is configured to refresh and update the presentation on the user device to reflect new indications received from other users of the system.

8. The system of claim 4 the computer to transmit at least one of a formatting option, a content option, and a sorting option to the user device, that enable the specified user to manipulate the presentation.

9. The system of claim 4 wherein the presentation comprises an interactive presentation that enables the specified user to manipulate said presentation.

10. The system of claim 9 wherein the computer is configured to initiate, in response to a user command, at least one transaction involving at least one of the retrieved indications displayed in the interactive presentation.

11. The system of claim 4 wherein the presentation comprises at least one of a list, a table, and a graphical representation of the retrieved indications.

12. The system of claim 1 wherein at least one of the plurality of indications includes a transaction parameter configured to enable a submitter of an indication to remain anonymous to specific users among the users of the system that have been predetermined by the submitter.

13. The system of claim 1 wherein the computer is configured to authenticate the specified user of the user device based on authentication data actively submitted via the user device to the computer.

14. The system of claim 1 wherein the computer is configured to authenticate the specified user of the user device without active submission of authentication from the user device.

15. The system of claim 14 wherein the computer is configured to authenticate the specified user of the user device based on at least one of a cookie or an Internet Protocol (IP) address associated with the user device.

16. The system of claim 1 wherein the computer is configured to monitor actions performed on the user device by the specified user.

17. The system of claim 16 wherein the computer is configured to create a searchable history of the monitored actions on the display of the user device.

18. The system of claim 15 wherein the computer is further configured to transmit the monitored actions to at least one of a third party computer and a third party database for at least one of further processing and usage.

19. The system of claim 1 wherein:

each of said two or more computerized exchanges is configured to execute electronic transactions involving commodities among the one or more commodities associated the respective exchange,

the computer is centrally located between the two or more computerized exchanges and the user device, and

the computer controlling access to the two or more computerized exchanges by the user device by enforcing the one or more exchange permissions.

20. The system of claim 19 wherein the indication database is shared by each of the two or more computerized exchanges.

21. The system of claim 19 wherein the computer is configured to prevent the specified user from viewing and initiating transactions on the plurality of indications among the two or more computerized exchanges other than indications among the plurality of indications that comply with the one or more exchange permissions.

22. The system of claim 19 further comprising commodity-sharing privileges granted between at least two of the two or more computerized exchanges, the commodity-sharing privileges permitting at least one of the two or more computerized exchanges access to at least one commodity associated with said exchanges.

23. A method for efficient data storage and retrieval, the method comprising:

providing a computer executing software in communication with two or more independent computerized exchanges and a user device, each of the two or more computerized exchanges comprising at least one processing device comprising memory and at least one processor executing instructions stored in the memory for transacting specified commodities among users of the system, the computer comprising a communications link between the computer and the Internet, the user device comprising a display configured to present information from among and to the users of the system, the information including at least one of;

posted bids and offers on commodities, transaction negotiation information and consummated transaction information related to the commodities from among the two or more computerized exchanges;

providing an interactive website for communication between the computer and the users of the system;

providing an indication database, accessible by the computer, storing a plurality of indications, the plurality of indications corresponding to each of the two or more computerized exchanges, the plurality of indications organized in the indication database according to one or more commodities to which the indications relate, each commodity associated with one of the two or more computerized exchanges;

providing a user database, accessible by the computer, storing a plurality of user files, wherein at least one user file among the plurality of user files is associated with a specified user among the users of the system, the at least one user file containing one or more exchange permissions associated with the specified user, the one or more exchange permissions granting, to the specified user, access to one or more specific exchanges among the two or more computerized exchanges and to one or more specific commodities within the one or more specific exchanges to which the specified user is granted access according to the one or more exchange permissions, the computer being configured to authenticate the specified user of the user device;

receiving, by the computer, a transaction request from the specified user over the communications link; and

controlling access, by the computer, responsive to said transaction request, to the two or more computerized exchanges by enforcing the one or more exchange permissions, said controlling access comprising;

querying, by the computer, the user database for the at least one user file associated with the specified user to retrieve the one or more exchange permissions from the at least one user file,

identifying, by the computer, the one or more specific commodities within the one or more specific exchanges to which the specified user has been granted access via the retrieved one or more exchange permissions,

retrieving, by the computer, one or more indications, related only to the one or more specific commodities to which the specified user has been granted access, from among the plurality of indications in the indications database by searching only the identified specific commodities among the one or more commodities in the indication database to which the specified user has been granted access, and

presenting, by the computer, the retrieved indications, via the display on the user device, to permit the specified user to interact with the retrieved indications.

24. The method of claim 23 wherein the display comprises designated web sites for each exchange among the two or more computerized exchanges.

25. The method of claim 23 wherein the plurality of indications contain information corresponding to open bids or offers for corresponding commodities among the one or more commodities.

26. The method of claim 23 further comprising:

generating, by the computer, a presentation that includes the retrieved indications, and

transmitting, by the computer, the presentation to the user device of the specified user over the communications link.

27. The method of claim 26 further comprising refreshing and updating, by the computer, the presentation on the user device to reflect new indications received from other users of the system.

28. The method of claim 26 further comprising transmitting, by the computer, at least one of a formatting option, a content option, and a sorting option to the user device, that enables the specified user to manipulate the presentation.

29. The method of claim 26 wherein the presentation comprises an interactive presentation that enables the specified user to manipulate said presentation.

30. The method of claim 29 further comprising initiating, by the computer, in response to a user command, at least one transaction involving at least one of the retrieved indications displayed in the interactive presentation.

31. The method of claim 26 wherein the presentation comprises at least one of a list, a table, and a graphical representation of the retrieved indications.

32. The method of claim 23 further comprising:

providing, by the computer, exclusive viewing of any commodity among the one or more commodities associated with a particular exchange from among the two or more computerized exchanges to one or more users among the users of the system having respective exchange permissions corresponding to the particular exchange.

33. The method of claim 23 wherein at least one of the plurality of indications includes a transaction parameter configured to enable a submitter of an indication to reveal contact information to specific users among the users of the system that have been predetermined by the submitter.

34. The method of claim 23 wherein at least one of the plurality of indications includes a transaction parameter configured to enable a submitter of an indication to remain anonymous to specific users among the users of the system that have been predetermined by the submitter.

35. The method of claim 23 further comprising authenticating, by the computer, the specified user of the user device based on authentication data actively submitted via the user device to the computer.

36. The method of claim 23 further comprising authenticating, by the computer, the specified user of the user device without active submission of authentication from the user device.

37. The method of claim 36 wherein the computer is configured to authenticate the specified user of the user device based on at least one of a cookie or an Internet Protocol (IP) address associated with the user device.

38. The method of claim 23 further comprising monitoring, by the computer, actions performed on the user device by the specified user.

39. The method of claim 38 further comprising creating, by the computer, a searchable history of the monitored actions on the display of the user device.

40. The method of claim 38 further comprising transmitting, by the computer, the monitored actions to at least one of a third party computer and a third party database for at least one of further processing and usage.

41. The method of claim 23 wherein:

each of said two or more computerized exchanges is configured to execute electronic transactions involving commodities among the one or more commodities associated the respective exchange,

the computer is centrally located between the two or more computerized exchanges and the user device, and

the computer controlling access to the two or more computerized exchanges by enforcing the one or more exchange permissions.

42. The method of claim 41 wherein the indication database is shared by each of the two or more computerized exchanges.

43. The method of claim 41 further comprising preventing, by the computer, the specified user from viewing and initiating transactions on the plurality of indications among the two or more computerized exchanges other than indications among the plurality of indications that comply with the one or more exchange permissions.

44. The method of claim 41 further comprising granting commodity-sharing privileges between at least two of the two or more computerized exchanges permitting at least one of the two or more computerized exchanges access to at least one commodity associated with said exchanges.