Method and apparatus for a trading market design and deployment system
0 Assignments
0 Petitions
Accused Products
Abstract
Conducting an auction is disclosed. Instructions specifying a market phase for an auction are received. An auction allocation policy is defined based at least in part on the instructions. A first bid is received during the market phase of the auction. The first bid price is automatically adjusted based on the auction allocation policy. A plurality of successful bids is selected after the predetermined termination time.
29 Citations
42 Claims
-
1-22. -22. (canceled)
-
23. A method of conducting an auction, comprising:
-
receiving instructions specifying a market phase for an auction, the market phase having a predefined termination time; defining an auction allocation policy based at least in part on the instructions; receiving a first bid during the market phase of the auction for an item having a fixed quantity from a first trader, the first bid having a first bid price and a first bid quantity, the first bid being one of a plurality of bids received from a plurality of traders during the market phase for the auction item; automatically adjusting the first bid price received during the market phase of the auction based on the auction allocation policy; selecting a plurality of successful bids after the predetermined termination time from a plurality of admitted bids including the first bid and a second bid, the second bid having a second bid price and a second bid quantity, the second bid being from a second trader of the plurality of traders; allocating a first quantity of the item for the first bid; and allocating a second quantity for the item for the second bid. - View Dependent Claims (24, 25, 26, 27, 28, 29, 30, 31, 32)
-
-
33. A system for conducting an auction, comprising:
-
a processor configured to; receive instructions specifying a market phase for an auction, the market phase having a predefined termination time; define an auction allocation policy based at least in part on the instructions; receive a first bid during the market phase of the auction for an item having a fixed quantity from a first trader, the first bid having a first bid price and a first bid quantity, the first bid being one of a plurality of bids received from a plurality of traders during the market phase for the auction item; automatically adjust the first bid price received during the market phase of the auction based on the auction allocation policy; select a plurality of successful bids after the predetermined termination time from a plurality of admitted bids including the first bid and a second bid, the second bid having a second bid price and a second bid quantity, the second bid being from a second trader of the plurality of traders; allocate a first quantity of the item for the first bid; and allocate a second quantity for the item for the second bid; and a memory configured to provide the processor with instructions. - View Dependent Claims (34, 35, 36, 37, 38, 39, 40, 41)
-
-
42. A computer program product for conducting an auction, the computer program product being embodied in a computer readable storage medium and comprising computer instructions for:
-
receiving instructions specifying a market phase for an auction, the market phase having a predefined termination time; defining an auction allocation policy based at least in part on the instructions; receiving a first bid during the market phase of the auction for an item having a fixed quantity from a first trader, the first bid having a first bid price and a first bid quantity, the first bid being one of a plurality of bids received from a plurality of traders during the market phase for the auction item; automatically adjusting the first bid price received during the market phase of the auction based on the auction allocation policy; selecting a plurality of successful bids after the predetermined termination time from a plurality of admitted bids including the first bid and a second bid, the second bid having a second bid price and a second bid quantity, the second bid being from a second trader of the plurality of traders; allocating a first quantity of the item for the first bid; and allocating a second quantity for the item for the second bid.
-
Specification