Method and system for improving the liquidity of transactions for PM pools and auctions
First Claim
1. A method for improving liquidity of transactions for a first plurality of contracts for a pari-mutuel (PM) pool or an auction, the method comprising the steps of:
- providing a complete set including a second plurality of contracts corresponding to the first plurality of contracts, the complete set guaranteeing at least an initial settlement value at at least one particular time, the complete set corresponding to a settlement value, the settlement value being determined based upon the initial settlement value.
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Accused Products
Abstract
A method and system for improving liquidity of transactions for a first plurality of contracts for a pari-mutuel (PM) pool or auction is disclosed. In one aspect, the method and system include providing a complete set including a second plurality of contracts. The complete set guarantees at least an initial settlement value at at least one particular time. The complete set also corresponds to a settlement value, which is determined based upon the initial settlement value. In another aspect, the method and system include obtaining a plurality of orders corresponding to a plurality of contracts. In this aspect the method and system include performing a price auction on the plurality of orders and then performing a quantity auction to determine a quantity of the plurality of orders which are qualified.
117 Citations
57 Claims
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1. A method for improving liquidity of transactions for a first plurality of contracts for a pari-mutuel (PM) pool or an auction, the method comprising the steps of:
providing a complete set including a second plurality of contracts corresponding to the first plurality of contracts, the complete set guaranteeing at least an initial settlement value at at least one particular time, the complete set corresponding to a settlement value, the settlement value being determined based upon the initial settlement value. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37)
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38. A method for improving liquidity of transactions for a plurality of contracts for a pari-mutuel (PM) pool or an auction, the method comprising the steps of:
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obtaining a plurality of orders corresponding to the plurality of contracts;
performing a price auction on the plurality of orders in order to determine a plurality of contract prices for the plurality of orders;
performing a quantity auction, after the price auction, to determine a quantity of the plurality of orders which are qualified. - View Dependent Claims (39)
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40. A computer-readable medium containing a program for improving liquidity of transactions for a first plurality of contracts for a pari-mutuel (PM) pool or an auction, the program including instructions for:
providing a complete set including a second plurality of contracts corresponding to the first plurality of contracts, the complete set guaranteeing at least an initial settlement value at at least one particular time, the complete set corresponding to a settlement value, the settlement value being determined based upon the initial settlement value. - View Dependent Claims (41, 42, 43, 44)
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45. A computer-readable medium containing a program for improving liquidity of transactions for a plurality of contracts for a pari-mutuel (PM) pool or an auction, the program including instructions for:
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obtaining a plurality of orders corresponding to the plurality of contracts;
performing a price auction on the plurality of orders in order to determine a plurality of contract prices for the plurality of orders;
performing a quantity auction after the price auction to determine a quantity of the plurality of orders which are qualified. - View Dependent Claims (46)
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47. A system for improving liquidity of transactions for a first plurality of contracts for a pari-mutuel (PM) pool or an auction, the system comprising:
means for providing a complete set including a second plurality of contracts corresponding to the plurality of contracts, the complete set guaranteeing at least an initial settlement value at at least one particular time, the complete set corresponding to a settlement value, the settlement value being determined based upon the initial settlement value. - View Dependent Claims (48, 49, 50, 51, 52, 53, 54, 55)
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56. A system for improving liquidity of transactions for a plurality of contracts for a pari-mutuel (PM) pool or an auction, the system comprising:
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means for obtaining a plurality of orders corresponding to the plurality of contracts;
means for performing a price auction on the plurality of orders in order to determine a plurality of contract prices for the plurality of orders; and
means for performing a quantity auction to determine a quantity of the plurality of orders which are qualified. - View Dependent Claims (57)
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Specification