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SYSTEM AND METHOD FOR TRADING FINANCIAL ASSETS

  • US 20100017324A1
  • Filed: 07/15/2009
  • Published: 01/21/2010
  • Est. Priority Date: 07/17/2008
  • Status: Abandoned Application
First Claim
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1. A computerized method of conducting an auction of one or more financial assets by an electronic exchange system, the computerized method comprising:

  • establishing an account to receive payment from an obligor associated with the one or more financial assets, the account being accessible by the electronic exchange system;

    receiving information associated with the obligor of the one or more financial assets;

    receiving information on the one or more financial assets held by a seller;

    verifying validity and accuracy of the information associated with the one or more financial assets;

    the electronic exchange system offering the one or more financial assets for sale in an auction, along with access to the received information;

    accepting bids from one or more buyers for the one or more financial assets during the auction;

    awarding the auction to the one or more buyers based on the bids; and

    electronically settling payment for purchase of the auction.

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