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AUTOMATED PRICE IMPROVEMENT PROTOCOL PROCESSOR

  • US 20020169703A1
  • Filed: 12/18/1998
  • Published: 11/14/2002
  • Est. Priority Date: 12/13/1996
  • Status: Active Grant
First Claim
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1. In combination with a data processing system implementing a structured trading environment for the price discovery and transaction of select items, having a predetermined set of characteristics wherein said data processing system is utilized by Participants through a specific communication platform that defines the ability of various Participants to engage in said trading activity, comprising:

  • a plurality of communication links to Participants to transmit trading information on price and transaction attributes of said select items and Participant interactive inputs in response to said information, said inputs include Bid, Offer, and trade execution commands; and

    a central server, linked to, and in communication with said Participants, said server programmed with a predetermined trading control logic comprising a set protocol of trade sequences directed to implementing interactive bidding, offering, and trading commands directed by Participants, wherein trading proceeds on one or multiple price levels in one or more trading states, said states define the Participants'"'"' abilities to engage in item trading activity.

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