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Online commodities trading system with anonymous counter bid/offer function

  • US 20020032632A1
  • Filed: 12/06/2000
  • Published: 03/14/2002
  • Est. Priority Date: 12/07/1999
  • Status: Abandoned Application
First Claim
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1. An online trading system comprising:

  • (a) a Bid/Offer input interface for allowing a user to enter terms in a predetermined set of fields for a bid or offer and to submit the bid or offer for posting in the system anonymously without identification of the submitter;

    (b) a Trading Summary interface operable by users for displaying an anonymous postings of bids and offers submitted to the system, and for identifying a match of a bid and a counterpart offer with respect to the terms in the predetermined set of fields of each counterpart;

    (c) a Bid/Offer database for storing and retrieving data records of bids and offers submitted to the system; and

    (d) a Counter Bid/Offer interface operable by a user to select a pending bid or offer displayed on a display of the Trading Summary interface, to retrieve the corresponding data record from the Bid/Offer database and display the terms existing in the predetermined set of fields without identification of the submitter, and then to counter or modify one or more terms and submit the countered or modified bid or offer as a new posting in the system without identification of the submitter, whereby users of the system can remain anonymous while engaging in countering or modifying an original bid or offer as a new posting in the system in order to move progressively toward a match of terms in the predetermined set of fields.

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