ELECTRONIC BARTERING SYSTEM

• US 20080228627A1
• Filed: 02/15/2008
• Published: 09/18/2008
• Est. Priority Date: 08/05/1999
• Status: Abandoned Application

• Current Assignee: Richard Himmelstein
• Original Assignee: Richard Himmelstein
• Inventors: Himmelstein, Richard
• Application Number:
  US12/032,080
• Publication Number:
  US 20080228627A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• 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
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

A computer system facilitates buying and selling securities. The computer system comprises a trading system for receiving and storing a plurality of portfolios. Each portfolio is associated with a respective trader. The computer system further comprises a plurality of client computers interfaced with the trading system. The trading system discovers a potential order match among the plurality of portfolios. The order match identifies a first trader, a security to trade and a condition for trading the security. The trading system determines a real time value associated with the order match, and the trading system notifies the first trader of the order match via one of the plurality of client computers.

Claims

29. A computer system for facilitating buying and selling securities comprising:

a trading system for receiving a plurality of portfolios, each portfolio associated with a respective trader;

a plurality of client computers interfaced with the trading system;

wherein the trading system discovers a potential order match among the plurality of portfolios, the order match identifying a first trader, a security to trade and a condition for trading the security;

wherein the trading system determines a real time value associated with the order match; and

wherein the trading system notifies the first trader of the order match via one of the plurality of client computers.

30. The system of claim 29 further comprising an investment company trading system for transferring account information.

31. The system of claim 29 including a link providing transparent access to the trading system via an investment company website.

32. The system of claim 29 wherein the trading system includes a subsystem for notifying the first trader of the order match.

33. The system of claim 32 wherein the subsystem purges an identity of a second trader.

34. The system of claim 32 wherein the trading system locks an order for a predetermine time period.

35. The system of claim 29 wherein the trading system is configured to act as a negotiator.

36. The system of claim 29 wherein the trading system determines the real time value based on a current security trading price.

37. The system of claim 29 wherein the condition for trading includes a quantity.

38. The system of claim 37 wherein the quantity includes a range.

39. A method for facilitating buying and selling securities on a computerized system, the method comprising:

receiving a plurality of portfolios at a trading system, each portfolio associated with a respective trader;

interfacing the trading system with a plurality of client computers;

discovering a potential order match among the plurality of portfolios, the order match identifying a first trader, a security to trade and a condition for trading the security;

determining a real time value associated with the order match; and

notifying the first trader of the order match via one of the plurality of client computers.

40. The method of claim 39 further comprising transferring account information from an investment company website.

41. The method of claim 39 further comprising providing a link to transparently access the trading system via an investment company website.

42. The method of claim 39 further comprising notifying the first trader of a potential match via a subsystem of the trading system.

43. The method of claim 42 wherein notifying includes purging an identity of a second trader.

44. The method of claim 42 further comprising locking an order for a predetermine time period.

45. The method of claim 39 further comprising enabling negotiation between the first trader and a second trader.

46. The method of claim 39 wherein determining the real time value is based on a current security trading price.

47. The method of claim 39 wherein the condition for trading includes a quantity.

48. The method of claim 47 wherein the quantity includes a range.

49. A computer system for facilitating buying and selling securities comprising:

a trading system for receiving a plurality of portfolios, each portfolio associated with a respective trader;

a plurality of client computers interfaced with the trading system;

wherein the trading system receives and stores at least one order from at least one of the plurality of client computers, each order identifying the respective trader, a security to trade and a condition for trading the security;

wherein the trading system determines a real time value associated with each order and matches at least two of the orders based on matching criteria; and

wherein the trading system processes the at least two matched orders.

50. A method for facilitating buying and selling securities on a computerized system, the method comprising:

receiving a plurality of portfolios at a trading system, each portfolio associated with a respective trader;

interfacing the trading system with a plurality of client computers;

receiving by the trading system at least one order from at least one of the plurality of client computers, each order identifying the respective trader, a security to trade and a condition for trading the security;

determining a real time value associated with each order;

matching at least two of the orders based on matching criteria; and

processing the at least two matched orders.