Settlement of auctions using complete sets and separate price and quantity determination
First Claim
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1. A method for settling an auction of contracts comprising:
- accessing an auction pool defining orders for contracts collected during an auction;
setting an auction settlement price (ASP) for each contract in the auction pool; and
after the ASPs have been set, filling orders in the auction pool based on the ASPs.
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Accused Products
Abstract
The orders collected during an auction form an auction pool. An auction settlement price (ASP) for each contract is set. After the ASPs have been set, orders in the auction pool are filled (or not) based on the ASPs, and preferably also the aggressiveness of the order.
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Citations
1 Claim
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1. A method for settling an auction of contracts comprising:
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accessing an auction pool defining orders for contracts collected during an auction;
setting an auction settlement price (ASP) for each contract in the auction pool; and
after the ASPs have been set, filling orders in the auction pool based on the ASPs.
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Specification
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- Resources
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Current AssigneeExchangerepublic Com Limited
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Original AssigneeExchangerepublic Com Limited
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InventorsFung, Kevin KS
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Application NumberUS10/600,888Publication NumberTime in Patent OfficeDaysField of SearchUS Class Current705/37CPC Class CodesG06Q 30/08 AuctionsG06Q 40/00 Finance; Insurance; Tax str...G06Q 40/03 Credit; Loans; Processing t...G06Q 40/04 Trading; Exchange, e.g. sto...
