Method and apparatus for open market trading
First Claim
1. In a computer network, apparatus for supporting open market trading comprising:
- a. a source of information providing i. a plurality of Asks for certain products from different sellers;
ii. a plurality of Bids for a general product type from different buyers;
b. A means for receiving from a buyer or a seller an order to buy or sell a subject product, the product being of a subject Class; and
c. One or more filters coupled to the receiving means and the source of information, for parsing sets of Bids and Asks for a specific Class of products such that a customized screen view for the subject Class of product is displayed and enables desired trading on the same.
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Abstract
Computer network apparatus for supporting open market trading is disclosed. The apparatus includes a) a database storing sellers'"'"' Asks and buyers'"'"' Bids, b) a means for receiving from a buyer or a seller an order to buy or sell a subject product, and c) filters for parsing sets of Bids and Asks stored in the database. A Commodity Filter parses based on user-specified attributes of products (Commodities). A Quantity Filter aggregates and filters the quantities of sets of the product. As such, customized screen views for the subject Class of product are displayed and enhance trading on the same. A match engine completes a transaction when an order is found to match a stored Bid or Ask. A participant enhancer notifies otherwise dormant buyers and sellers of the current displayed market and trading.
165 Citations
17 Claims
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1. In a computer network, apparatus for supporting open market trading comprising:
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a. a source of information providing i. a plurality of Asks for certain products from different sellers;
ii. a plurality of Bids for a general product type from different buyers;
b. A means for receiving from a buyer or a seller an order to buy or sell a subject product, the product being of a subject Class; and
c. One or more filters coupled to the receiving means and the source of information, for parsing sets of Bids and Asks for a specific Class of products such that a customized screen view for the subject Class of product is displayed and enables desired trading on the same. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A method for carrying out Commodity transactions, comprising the computer implemented steps of:
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a. Providing a plurality of Asks for certain products from different sellers;
b. Providing a plurality of Bids for a general product type from different buyers;
c. Receiving from a buyer or a seller an order to buy or sell a subject product; and
d. any combination of combining Bids as a function of quantity and price to fulfill a seller'"'"'s order, and combining Asks as a function of quantity and price to fulfill a buyer'"'"'s order. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17)
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Specification