Systems and methods for facilitating transactions in a commodity marketplace

• US 20020026403A1
• Filed: 04/10/2001
• Published: 02/28/2002
• Est. Priority Date: 04/10/2000
• Status: Abandoned Application

• Current Assignee: Eastman Chemical Company
• Original Assignee: Eastman Chemical Company
• Inventors: Caldwell, James K., Bowen, Sean A., Lettich, Anthony R., Tambay, Roger
• Application Number:
  US09/829,529
• Publication Number:
  US 20020026403A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

The present invention relates to systems and methods for conducting a liquid exchange in a commodity goods marketplace and thereby creating an associated derivatives market. The commodity goods marketplace is implemented as a product trading center in which standardized products in a specific market segment are traded using standardized contracts. Various embodiments of the present invention may also comprise additional means of conducting product transactions and additional ancillary services supporting those transactions. An embodiment of the present invention provides computer network based systems and methods for conducting and facilitating transactions in the commodity polymer marketplace to further produce a derivatives market. The systems and methods of the present invention may be advantageously implemented as a business to business (“B2B”) e-commerce site on the world wide web.

Claims

1. A system for conducting a liquid exchange in a discreet segment of a commodity goods market comprising:

a plurality of market participants in said market segment;

a network access device accessible to said market participants;

a computer network connected to said network access device; and

an electronic product trading center connected to said computer network.

2. A system as in claim 1, wherein said market segment comprises a sub-segment of the commodity polymers segment of the plastics industry.

3. A system as in claim 2, wherein said sub-segment comprises at least one of:

a low-density polyethylene (L.D.P.E.) sub-segment;

a linear low-density polyethylene (L.L.D.P.E.) sub-segment;

a high-density polyethylene (H.D.P.E.) sub-segment;

a polypropylene (P.P.) sub-segment;

a polystyrene (P.S.) sub-segment;

an acrylonitrile-styrene-butadiene (A.B.S.) sub-segment; and

a polyethylene terephtahalate (P.E.T.) sub-segment.

4. A system as in claim 1, wherein said plurality of market participants comprises:

a purchaser; and

a seller.

5. A system as in claim 4, wherein said plurality of market participants further comprises at least one of:

a feedstock producer;

an additive producer;

a commodity polymer producer;

a compounder;

a convertor;

a broker;

a recycler;

a distributor;

an end user; and

a service provider.

6. A system as in claim 1, wherein said network access device comprises at least one of:

a telephone;

a cellular-capable device;

a personal digital assistant; and

a computer.

7. A system as in claim 1, wherein said computer network comprises the world-wide web (Internet).

8. A system as in claim 1, wherein said electronic product trading center comprises:

a database;

an executant connected to said database; and

a user interface connected to said executant.

9. A system as in claim 8, wherein said database comprises a Microsoft®

SQLServer database.

10. A system as in claim 8, wherein said database comprises a document repository.

11. A system as in claim 10, wherein said document repository comprises a Microsoft®

Index Server document repository.

12. A system as in claim 8, wherein said executant comprises at least one of:

a Microsoft®

Active Server Pages (ASP) program;

a java server pages (JSP) program; and

a compiled program executing under the control of an object request brokering application.

13. A system as in claim 8, wherein said user interface comprises a document created using a document markup language.

14. A system as in claim 1, further comprising an electronic private trading room.

15. A system as in claim 1, further comprising an electronic exchange trading floor.

16. A system as in claim 1, further comprising an electronic store front.

17. A system as in claim 1, further comprising an electronic processor preference center.

18. A system as in claim 1, further comprising an electronic sample request and delivery center.

19. A system as in claim 1, further comprising ancillary services, said ancillary services comprising at least one of:

a global logistics solutions support system;

an electronic capacity exchange for product and capacity swaps;

a professional development service;

a financial service; and

a comprehensive industry information service.

20. A system as in claim 1, further comprising a means to create a derivatives market accompanying said commodities market.

21. A process for conducting a liquid exchange between a plurality of participants in a discreet segment of a commodity goods market comprising:

identifying a standard product in said segment;

creating a standard contract for said liquid exchange of said standard product; and

consummating said exchange between said participants.

22. A process as in claim 21, wherein said market segment comprises a sub-segment of the commodity polymers segment of the plastics industry.

23. A process as in claim 22, wherein said sub-segment comprises at least one of:

a low-density polyethylene (L.D.P.E.) sub-segment;

a linear low-density polyethylene (L.L.D.P.E.) sub-segment;

a high-density polyethylene (H.D.P.E.) sub-segment;

a polypropylene (P.P.) sub-segment;

a polystyrene (P.S.) sub-segment;

an acrylonitrile-styrene-butadiene (A.B.S.) sub-segment; and

a polyethylene terephtahalate (P.E.T.) sub-segment.

24. A process as in claim 21, wherein said plurality of market participants comprises:

a purchaser; and

a seller.

25. A system as in claim 24, wherein said plurality of market participants further comprises at least one of:

a feedstock producer;

an additive producer;

a commodity polymer producer;

a compounder;

a convertor;

a broker;

a recycler;

a distributor;

an end user; and

a service provider.

26. A process as in claim 21, further comprising conducting an exchange in an electronic private trading room.

27. A process as in claim 21, further comprising conducting an exchange on electronic exchange trading floor.

28. A process as in claim 21, further comprising conducting an exchange in an electronic store front.

29. A process as in claim 21, further comprising collecting a preference from said participants in an electronic processor preference center.

30. A process as in claim 21, further comprising the steps of:

receiving a request for a sample in an electronic sample request and delivery center (SRDC);

in response to said request, processing said request; and

at the conclusion of said processing, shipping said sample.

31. A process as in claim 21, further comprising providing ancillary services, said ancillary services comprising at least one of:

a global logistics solutions support system;

an electronic capacity exchange for product and capacity swaps;

a professional development service;

a financial service; and

a comprehensive industry information service.

32. A process as in claim 21, wherein said standard contract is a forward contract.

33. A process as in claim 21, further comprising creating a derivatives market accompanying said commodities market.

34. A process as in claim 33, wherein creating said derivatives market comprises creating a standard synthetic instrument.