System, method and program product for improving broker's profits in electronic commerce

• US 20020087452A1
• Filed: 01/04/2001
• Published: 07/04/2002
• Est. Priority Date: 01/04/2001
• Status: Abandoned Application

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: Megiddo, Nimrod
• Application Number:
  US09/753,556
• Publication Number:
  US 20020087452A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

A method, system and program product for brokering sales between parties. An interested party or client, such as a buyer or a seller, requests broker'"'"'s services. The requesting client provides transactional information to the broker system. A transactional model is constructed for the client from the received parameters. The client transactional model indicates the client'"'"'s likelihood of participation in a particular transaction. Potential second parties to the transaction, i.e., sellers or buyers, are identified. A proposed transaction is structured to maximize spread. The proposed transaction is offered to both the client and the second parties.

Claims

1. A method of brokering sales between parties, said method comprising the steps of:

a) receiving request for broker'"'"'s services from a client;

b) requesting transactional information from said client for said brokered services;

c) constructing a client transactional model from said received parameters, said client transactional model indicating a likelihood of said client'"'"'s participation in a transaction;

d) identifying potential second parties to said transaction; and

e) eliciting participants to said transaction from said identified second parties, whereby said transaction is structured to maximize spread.

2. A method of brokering sales as in claim 1 wherein after the step (c) of constructing the client transactional model, said method further comprising the step of:

c1) presenting modeled transactions to said client, acceptance of said modeled transaction determining whether parameters of said transaction are suitable.

3. A method of brokering sales as in claim 2, wherein if parameters of said transaction are determined to be unsuitable in step (c1), said method further comprising the step of:

c2) reworking said transactional model; and

c3) repeating step (c1).

4. A method of brokering sales as in claim 3 wherein said client is a prospective buyer.

5. A method of brokering sales as in claim 3 wherein said client is a prospective seller.

6. A method of brokering sales as in claim 3 further comprising the steps of:

f) constructing a workable deal model responsive to said transactional model;

g) identifying deals likely to be accepted by said client and at least one identified second party responsive to said transactional model and said workable deal model; and

h) presenting identified deals having the largest spread to said client and each said identified second party.

7. A method of brokering sales as in claim 6 wherein when said deal is rejected by said client or all identified second parties, said method further comprising the step of:

j) reworking said deal, whereby reduction of profit to said broker is minimized in said reworked deal; and

k) presenting said reworked deal to said client and each said identified second party.

8. A method of brokering sales as in claim 6 where step (g) of identifying deals likely to be accepted comprises the steps of:

i) constructing a broker'"'"'s profit function of said received parameters;

ii) employing a global optimization search for identifying a feasible deal that maximizes spread; and

iii) presenting proposed deals to said client and identified second parties.

9. A computer program product brokering sales, said computer program product comprising a computer usable medium having computer readable program code thereon, said computer readable program code comprising:

computer readable program code means for receiving request for broker'"'"'s services from a client;

computer readable program code means for requesting transactional information from said client for said brokered services;

computer readable program code means for constructing a client transactional model from said received parameters, said client transactional model indicating a likelihood of said client'"'"'s participation in a transaction;

computer readable program code means for identifying potential second parties to said transaction; and

computer readable program code means for eliciting participants to said transaction from said identified second parties, whereby said transaction is structured to maximize spread.

10. A computer readable program code means for brokering sales as in claim 9 further comprising:

computer readable program code means for presenting modeled transactions to said client, acceptance of said modeled transaction determining whether parameters of said transaction are suitable.

11. A computer readable program code means for brokering sales as in claim 10 further comprising:

computer readable program code means for constructing a workable deal model responsive to said transactional model;

computer readable program code means for identifying deals likely to be accepted by said client and at least one identified second party responsive to said transactional model and said workable deal model; and

computer readable program code means for presenting identified deals having the largest spread to said client and each said identified second party.

12. A computer readable program code means for brokering sales as in claim 11 wherein computer readable program code means for identifying deals likely to be accepted comprises:

computer readable program code means for constructing a broker'"'"'s profit function of said received parameters;

computer readable program code means for employing a global optimization search for identifying a feasible deal that maximizes spread; and

computer readable program code means for presenting proposed deals to said client and identified second parties.

14. A system for brokering sales as in claim 13 further comprising:

means for presenting modeled transactions to said client, acceptance of said modeled transaction determining whether parameters of said transaction are suitable.

15. A system for brokering sales as in claim 13 further comprising:

means for constructing a workable deal model responsive to said transactional model;

means for identifying deals likely to be accepted by said client and at least one identified second party responsive to said transactional model and said workable deal model; and

means for presenting identified deals having the largest spread to said client and each said identified second party.

16. A system for brokering sales as in claim 15 further comprising means for reworking said deal to minimize reduction of profit to said broker.

17. A system for brokering sales as in claim 15 wherein means for identifying deals likely to be accepted comprises:

means for constructing a broker'"'"'s profit function of said received parameters;

means for employing a global optimization search for identifying a feasible deal that maximizes spread; and

means for presenting proposed deals to said client and identified second parties.

13. A system for brokering sales between parties, said system comprising:

means for receiving request for broker'"'"'s services from a client;

means for requesting transactional information from said client for said brokered services;

means for constructing a client transactional model from said received parameters, said client transactional model indicating a likelihood of said client'"'"'s participation in a transaction;

means for identifying potential second parties to said transaction; and

means for eliciting participants to said transaction from said identified second parties, whereby said transaction is structured to maximize spread.