Interactive specialty commodities information and exchange system and method

• US 20060253385A1
• Filed: 06/02/2006
• Published: 11/09/2006
• Est. Priority Date: 05/04/2000
• Status: Abandoned Application

• Current Assignee: John M. Reams
• Original Assignee: John M. Reams
• Inventors: Reams, John M.
• Application Number:
  US11/445,623
• Publication Number:
  US 20060253385A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

An interactive database and real time exchange system for specialty commodity products and other products that must have their identity preserved from trade to delivery. The database includes specialty commodity products available from member producers and other information related to such products, and is accessible to system users, preferably through an interactive network system. An automated exchange director provides for real time matching of specific products in the database with corresponding bids from system users, and executes trades of accepted matches for identified units of the specific products. A delivery module is provided in communication with the exchange director, and implements delivery logistics and tracking of the identified unit between the trade and completed delivery. The system can further include a forum interactive module which allows communication between and among system users, such as through chat rooms and specific product forum pages. In one embodiment applicable specifically to agricultural specialty commodity products, the system further includes a monitor for periodically providing information to the system about the condition of the specific product in a traded identified unit during delivery. The system and process provide a central exchange which includes interactive access to all information needed for production, marketing, researching, trading, use and delivery of specialty commodity products, optimizing quality, timing and exchange price for all concerned.

Claims

1. A product exchange system for specialty products that must have their identity preserved from producer to completed delivery, said system comprising:

a catalog of specialty products available from member producers of said products, said catalog being accessible for use by system users;

an exchange coordinator providing matching of specific specialty products in the catalog utilizing all bids submitted by authorized system users, executing trades of accepted matches for at least one identified unit of a specific product; and

a delivery module for tracking the identified unit with said specific specialty product, wherein said specific specialty product is not mixed with other product varieties between said trade and said delivery.

2. The system of claim 1, wherein said specialty products are agricultural commodity products.

3. The system of claim 1, wherein said catalog includes specialty product information.

4. The system of claim 1, wherein said catalog comprises software to store and display said specialty products available from member producers.

5. The system of claim 1, wherein said exchange coordinator is automated.

6. The system of claim 1, wherein said exchange coordinator provides matching of said specialty products and reporting of executed matches in real time.

7. The system of claim 1, wherein said delivery module is in communication with said exchange coordinator.

8. The system of claim 1, wherein each identified unit of said specific specialty product is housed in at least one shipping container.

9. The system of claim 8, wherein said system further comprises a tracking device for each identified unit associated with the shipping container.

10. The system of claim 9, wherein said tracking device comprises a monitor having a transmitter for periodically providing information to said system about said specific specialty product in a shipping container.

11. The system of claim 1, wherein said system is web-based and interactive between said authorized system user and said member producers.

12. The system of claim 1, further comprising a central system coordinator which includes a processor, said central system coordinator being in communication with said exchange director, catalog and delivery module, and providing an interface thereto for system users.

13. The system of claim 1, wherein said system includes executable instructions to provide said authorized system users with access to said catalog.

14. A method for providing an exchange for specialty products that must have their identity preserved through delivery, comprising the steps:

providing an accessible database of specialty products offered by member producers of said products for purchase by system users;

providing an exchange director adapted to provide matching of specific specialty products in the database utilizing bids submitted by system users, executing trades of accepted matches for at least one identified unit of a specific specialty product,;

providing at least one shipping container for housing said at least one identified unit of the specific specialty product traded, wherein said identified unit is not mixed with other product varieties within said shipping container;

executing trades of accepted matches of identified units of said specific specialty products; and

tracking the identified unit and its shipping container through completed delivery.

15. The method of claim 14, further comprising the step of providing said exchange in a web-based, interactive form for real time communication between said system user and said member producers.

16. The method of claim 14, further comprising the step of providing a tracking device associated with each shipping container for an identified unit.

17. The method of claim 16, further comprising the step of obtaining periodic updates with respect to said tracking device as to information for tracking said identified unit of said specific product between trade and final delivery.

18. The method of claim 14, further comprising the step of electronically collecting information related to one or more specialty products from database sources.

19. A method in a computer system for displaying specific identity preserved specialty products available from member producers for trade, comprising:

providing a listing of one or more specific identity preserved specialty products available;

utilizing bids submitted from system users;

matching said bids submitted for each such specific identity preserved specialty product;

displaying all matched bids and offers therefor in conjunction with relevant quantity and delivery information; and

displaying physical characteristic information of said specific identity preserved specialty product.

20. The method of claim 19, further comprising the step of providing a listing of one or more specific identity preserved specialty agricultural products available.