Method and system for optimal pricing and allocation in an offering of a plurality of types
First Claim
1. Method for pricing and allocating a plurality of units of a plurality of types within one offering to be later sold, comprising the acts of:
- accepting a plurality of indications of interest to later buy the units, each indication including a request for a quantity of the units of each type at a particular price level;
providing to a plurality of prospective buyers information associated with each of the accepted indications;
accepting additional indications after providing the information; and
at a predetermined time, stopping the accepting of additional indications and treating the indications as allocations for subsequent sale.
5 Assignments
0 Petitions
Accused Products
Abstract
A method and system for the determination of optimal pricing and allocation of securities in an open, competitive environment. The method and system may also be used in developing pre-markets of other items that are difficult to price and allocate in a competitive manner, such as the underwriting/securitization of contracts for property; future revenue/earning streams from an asset and/or group of assets; underwritten insurance portfolios, intellectual property and other goods and services. The system of price optimization and allocation is accomplished by interactive feedback of information using a display and including competitive participation of individual members of the public (and/or their agents) or institutional buyers over a data network e.g., the Internet, uncovering the nature and identification of demand in a self-organizing fashion. Demand emerges through participants'"'"' interaction with the system and with each other, via a graphically-supported, interactive reservation process. Multiple types of units (e.g., maturities of a term series bond offering) may be sold in one offering.
-
Citations
63 Claims
-
1. Method for pricing and allocating a plurality of units of a plurality of types within one offering to be later sold, comprising the acts of:
-
accepting a plurality of indications of interest to later buy the units, each indication including a request for a quantity of the units of each type at a particular price level;
providing to a plurality of prospective buyers information associated with each of the accepted indications;
accepting additional indications after providing the information; and
at a predetermined time, stopping the accepting of additional indications and treating the indications as allocations for subsequent sale. - 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, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61)
-
-
62. Method for providing an indication-of-interest to later buy at least one of plurality of units of a plurality of types within one offering to be later sold, comprising the acts of:
-
viewing information associated with each of a plurality of indications-of-interest to buy including a quantity of the units of each type at a particular price level to be later sold;
submitting an indication-of-interest to later buy the units, the indication including a price level and a quantity of the units;
having the opportunity to submit an additional indication or change the indication; and
at a predetermined time, the opportunity to submit an additional indication being stopped and the indication being accepted as an allocation for subsequent sale.
-
-
63. A computer enabled system for pricing and allocating a plurality of units of a plurality of types within one offering to be later sold, comprising:
-
a database for holding a plurality of indications-of-interest to later buy the units, each indication including a request for a quantity of the units of each type at a particular price level; and
a participant module operatively coupled to the database for accepting the indications from prospective buyers;
wherein the database provides to a plurality of the prospective buyers information associated with each of the accepted indications.
-
Specification