System for trading commodities and the like

• US 20080215477A1
• Filed: 02/15/2008
• Published: 09/04/2008
• Est. Priority Date: 01/21/2000
• Status: Active Application

• Current Assignee: TradeCapture OTC Corp. (Intercontinental Exchange, Inc.)
• Original Assignee: TradeCapture OTC Corp. (Intercontinental Exchange, Inc.)
• Inventors: Annunziata, Vincent P.
• Application Number:
  US12/070,138
• Publication Number:
  US 20080215477A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

The present invention provides a system for trading commodities and the like. A computer, a communications link between the computer and the Internet, and a database, accessible by the computer are provided. The database includes a plurality of user files. Each of the user files corresponds to a specified user of the system. Each of the user files contains exchange permissions corresponding to exchanges to which the specified user may access. At least one computerized exchange transacts specified commodities executing on the computer accessible by selected users having proper exchange permissions for each exchange. A display is provided for pooling liquidity that permits users to post and view bids and offers and negotiate and consummate transactions on common commodities from one or more groups or exchanges. By such liquidity pooling, the liquidity of transactions of commodities between various exchanges and users is improved.

Claims

7. A system for trading commodities and the like comprising:

a computer;

a communications link between the computer and the Internet;

a database, accessible by the computer, containing a plurality of user files wherein each of the plurality of user files corresponds to a specified user of the system and further containing exchange permissions corresponding to exchanges to which the specified user may access;

at least one computerized exchange for transacting specified commodities executing on the computer accessible by selected users having proper exchange permissions for each exchange; and

a display that permits users to post and view bids and offers and negotiate and consummate transactions on common commodities from one or more exchanges;

whereby sharing of common commodities from one or more exchanges pools and thereby improves liquidity.

8. The system of claim 7 wherein the display for each group comprises designated web sites for each user.

9. The system of claim 7 further including a database, accessible by the computer, containing a plurality of indications wherein each of the plurality of indications contains information corresponding to open bids or offers for commodities and the indications are organized according to the commodities to which they correspond.

10. The system of claim 9 further including software executing on the computer for querying the user database to retrieve exchange permissions from a user file corresponding to the user;

retrieving indications from the indication database corresponding to predetermined commodities within the exchanges to which the user has been determined to have access, generating a presentation of the retrieved indications, transmitting the presentation to the user over the communications link, and displaying the presentation of the retrieved indications corresponding to the commodities within the exchanges to which the user has been determined to have access.

11. The system of claim 7 wherein the specified commodities associated with an exchange are viewed exclusively by users having exchange permissions corresponding to the exchange.

12. The system of claim 7 wherein the transaction parameters enable a submitter of an indication to reveal contact information to specific users of the system that have been predetermined by the submitter.

13. A system for trading commodities and the like comprising:

a computer;

a communications link between the computer and the Internet;

a database, accessible by the computer, containing a plurality of user files wherein each of the plurality of user files corresponds to a specified user of the system and further containing exchange permissions corresponding to exchanges to which the specified user may access;

at least two computerized exchanges for transacting specified commodities executing on the computer accessible by selected users having proper exchange permissions for each exchange;

software executing on the computer for generating an aggregated presentation of a plurality of indications, transmitting the aggregated presentation to the user over the communications link, and displaying the aggregated presentation of the plurality of indications corresponding to the commodities within the exchanges to which the user has been determined to have access;

whereby sharing of common commodities from one or more exchanges pools and thereby improves liquidity.

14. The system of claim 13 wherein the specified commodities associated with an exchange are viewed exclusively by users having exchange permissions corresponding to the exchange.

15. The system of claim 14 further comprising commodity-sharing privileges granted between at least two exchanges permitting at least one of the exchanges access to at least one commodity associated with the exchanges.

16. The system of claim 13 wherein each of the plurality of user files further contains a plurality of transaction parameters corresponding to one or more indications associated with the user file, the transaction parameters governing the presentation and acceptance of indications associated therewith and the system further comprising software executing on the computer for querying user files in the user database corresponding to each of the retrieved indications to determine transaction parameters associated with each of the retrieved indications, and generating the presentation of the retrieved indications in accordance with the determined transaction parameters.

17. The system of claim 16 wherein the transaction parameters enable a submitter of an indication to remain anonymous to specific users of the system that have been predetermined by the submitter.

18. The system of claim 13 wherein the transaction parameters enable a submitter of an indication to reveal contact information to specific users of the system that have been predetermined by the submitter.

19. A system for trading commodities and the like comprising:

a computer;

a communications link between the computer and the Internet;

a database, accessible by the computer, containing a plurality of user files wherein each of the plurality of user files corresponds to a specified user of the system and further containing exchange permissions corresponding to exchanges to which the specified user may access, the database further containing exchange permissions for at least one broker;

at least one computerized exchange for transacting specified commodities executing on the computer accessible by selected users and brokers having proper exchange permissions for each exchange;

software executing on the computer for permitting member traders and brokers of various groups to post and view bids and offers and negotiate and consummate transactions on commodities from one or more exchanges in an integrated presentation that pools order liquidity from the various exchanges.

20. The system of claim 19 wherein the specified commodities associated with an exchange are viewed exclusively by users having exchange permissions corresponding to the exchange.

21. The system of claim 20 further comprising commodity-sharing privileges granted between at least two exchanges permitting at least one of the exchanges access to at least one commodity associated with the exchanges.

22. The system of claim 19 wherein each of the plurality of user files further contains a plurality of transaction parameters corresponding to one or more indications associated with the user file, the transaction parameters governing the presentation and acceptance of indications associated therewith and the system further comprising software executing on the computer for querying user files in the user database corresponding to each of the retrieved indications to determine transaction parameters associated with each of the retrieved indications, and generating the presentation of the retrieved indications in accordance with the determined transaction parameters.

23. The system of claim 22 wherein the transaction parameters enable a submitter of an indication to remain anonymous to specific users of the system that have been predetermined by the submitter.

24. The system of claim 19 wherein the transaction parameters enable a submitter of an indication to reveal contact information to specific users of the system that have been predetermined by the submitter.

25. A method for trading commodities and the like comprising:

providing a plurality of users;

defining exchange permissions corresponding to exchanges to which the user may access;

connecting the users having proper exchange permissions to at least two exchanges for transacting specified commodities;

organizing a plurality of indications containing information corresponding to open bids or offers for commodities according to the commodities to which they correspond;

retrieving exchange permissions for a specified user;

retrieving indications corresponding to predetermined commodities within the exchanges to which the user has been determined to have access;

generating a presentation of the retrieved indications;

transmitting the presentation to the user; and

displaying the presentation of the retrieved indications corresponding to the commodities within the exchanges to which the user has been determined to have access.

26. The method of claim 25 further comprising viewing the specified commodities associated with an exchange exclusively by users having exchange permissions corresponding to the exchange.

27. The method of claim 26 further comprising granting commodity-sharing privileges between at least two exchanges permitting at least one of the exchanges access to at least one commodity associated with the exchanges.

28. The method of claim 25 further defining a plurality of transaction parameters corresponding to one or more indications, the transaction parameters governing the presentation and acceptance of indications associated therewith;

querying the retrieved indications to determine transaction parameters associated with each of the retrieved indications; and

generating the presentation of the retrieved indications in accordance with the determined transaction parameters.

29. The method of claim 28 further comprising a submitter of an indication remaining anonymous to specific users that have been predetermined by the submitter.

30. The method of claim 25 further comprising a submitter of an indication revealing contact information to specific users of the method that have been predetermined by the submitter.

31-1. The method of claim 31 further comprising designating web sites for each user.

37. A method for trading commodities and the like comprising:

providing a plurality of users;

defining exchange permissions corresponding to exchanges to which the user may access;

connecting the users having proper exchange permissions to at least two exchanges for transacting specified commodities;

generating an aggregated presentation of a plurality of indications;

transmitting the aggregated presentation to the user; and

displaying the aggregated presentation of the plurality of indications corresponding to the commodities within the exchanges to which the user has been determined to have access;

whereby sharing of common commodities from one or more exchanges pools and thereby improves liquidity.

38. The method of claim 37 further comprising viewing the specified commodities associated with an exchange exclusively by users having exchange permissions corresponding to the exchange.

39. The method of claim 38 further comprising grating commodity-sharing privileges between at least two exchanges permitting at least one of the exchanges access to at least one commodity associated with the exchanges.

40. The method of claim 37 further comprising querying exchange permissions for a user;

retrieving indications corresponding to predetermined commodities within the exchanges to which the user has been determined to have access;

generating a presentation of the retrieved indications;

transmitting the presentation to the user; and

displaying the presentation of the retrieved indications corresponding to the commodities within the exchanges to which the user has been determined to have access.

41. The method of claim 40 further comprising a submitter of an indication remaining anonymous to specific users of the method that have been predetermined by the submitter.

42. The method of claim 37 further comprising a submitter of an indication revealing contact information to specific users of the method that have been predetermined by the submitter.

43. A method for trading commodities and the like comprising:

providing a plurality of users;

defining exchange permissions corresponding to exchanges to which the user may access;

defining exchange permissions corresponding to exchanges to which at least one broker may access;

connecting the users and brokers having proper exchange permissions to at least two exchanges for transacting specified commodities; and

permitting member traders and brokers of various groups to post and view bids and offers and negotiate and consummate transactions on commodities from one or more exchanges in an integrated presentation that pools order liquidity from the various exchanges.

44. The system of claim 43 further comprising viewing the specified commodities associated with an exchange exclusively by users having exchange permissions corresponding to the exchange.

45. The system of claim 44 further comprising granting commodity-sharing privileges between at least two exchanges permitting at least one of the exchanges access to at least one commodity associated with the exchanges.

46. The method of claim 43 further comprising querying exchange permissions for a user;

retrieving indications corresponding to predetermined commodities within the exchanges to which the user has been determined to have access;

generating a presentation of the retrieved indications;

transmitting the presentation to the user; and

displaying the presentation of the retrieved indications corresponding to the commodities within the exchanges to which the user has been determined to have access.

47. The system of claim 46 further comprising a submitter of an indication remaining anonymous to specific users of the system that have been predetermined by the submitter.

48. The system of claim 43 further comprising a submitter of an indication revealing contact information to specific users of the system that have been predetermined by the submitter.