METHODS AND SYSTEMS FOR SUPPORTING ASSET EXCHANGE
First Claim
1. A system for supporting asset exchanges between parties of an auction including sellers and bidders, the system comprising:
- a transformation module configured to transform representations of bidders'"'"' auction bids into representations of bidders'"'"' bidding assets and representations of bidders'"'"' bid-on auction assets;
a translation module configured to (i) translate representations of sellers'"'"' auction assets into vertices of a directed graph and representations of sellers'"'"' auction desires into edges of the directed graph and (ii) translate the representations of bidders'"'"' bidding assets into vertices of the directed graph and the representations of bidders'"'"' bid-on auction assets into edges of the directed graph;
a cycle determination module configured to determine cycles in the directed graph, a cycle being a path starting at a given vertex and ending at the given vertex, the path including multiple edges and at least one intermediate vertex; and
an offer module configured to transform the cycles into offers among the parties and to perform an action based on the offers.
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Abstract
In typical two-way trading systems, bidders cannot trade directly with other bidders, and sellers cannot trade directly with other sellers, resulting in possible missed trading opportunities. Methods, systems, devices, and networks for enabling two-way trading systems to perform multi-party exchanges are disclosed. Example embodiments allow multiple bidders (buyers), multiple sellers, or a seller and bidder of separate marketplaces to trade among themselves. Embodiments may discover, for bidders and sellers, opportunities to trade with other sellers or bidders, or both, without a time-consuming and limited process of searching and discovering relevant opportunities. Bidders and sellers may not find such opportunities on their own in typical two-way trading systems. The embodiments may be implemented as stand-alone systems or as add-ons that may be used to augment or enhance existing two-way trading systems.
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Citations
47 Claims
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1. A system for supporting asset exchanges between parties of an auction including sellers and bidders, the system comprising:
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a transformation module configured to transform representations of bidders'"'"' auction bids into representations of bidders'"'"' bidding assets and representations of bidders'"'"' bid-on auction assets; a translation module configured to (i) translate representations of sellers'"'"' auction assets into vertices of a directed graph and representations of sellers'"'"' auction desires into edges of the directed graph and (ii) translate the representations of bidders'"'"' bidding assets into vertices of the directed graph and the representations of bidders'"'"' bid-on auction assets into edges of the directed graph; a cycle determination module configured to determine cycles in the directed graph, a cycle being a path starting at a given vertex and ending at the given vertex, the path including multiple edges and at least one intermediate vertex; and an offer module configured to transform the cycles into offers among the parties and to perform an action based on the offers. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A method of supporting asset exchanges between parties of an auction including sellers and bidders, the method comprising:
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translating representations of sellers'"'"' auction assets into vertices of a directed graph and representations of sellers'"'"' auction desires into edges of the directed graph; transforming representations of bidders'"'"' auction bids into representations of bidders'"'"' bidding assets and representations of bidders'"'"' bid-on auction assets; translating the representations of bidders'"'"' bidding assets into vertices of the directed graph and the representations of bidders'"'"' bid-on auction assets into edges of the directed graph; determining cycles in the directed graph, a cycle being a path starting at a given vertex and ending at the given vertex, the path including multiple edges and at least one intermediate vertex; transforming the cycles into offers between the parties; and performing an action based on the offers. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34)
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35. A method of operating an auction, the method comprising:
transforming a representation of a first party'"'"'s role in the auction by offering an asset, in the form of a representation of the asset, of the first party to a second party in exchange for an asset of the second party. - View Dependent Claims (36, 37, 38, 39, 40, 41)
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42. A method of operating an auction, the method comprising:
offering a bidder'"'"'s bidding asset, in the form of a representation of the bidding asset, to a seller of an auction asset in exchange for the seller'"'"'s auction asset, the bidder already bidding on a bid-on auction asset that is different from the seller'"'"'s auction asset.
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43. An asset exchange server comprising:
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an activation module configured to (i) activate seller nodes to enable participation of sellers in the asset exchange marketplace and (ii) activate bidder nodes to enable participation of bidders in the asset exchange marketplace; and a transformation module configured to (i) facilitate offering and bidding exchanges among the seller and bidder nodes as a function of representations of the sellers'"'"' auction assets and auction desires and the bidders'"'"' bidding assets and bid-on auction assets and (ii) transmit messages to the seller and bidder nodes to cause the nodes to recognize a state of an exchange of the sellers'"'"' and bidders'"'"' assets. - View Dependent Claims (44, 45)
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46. A method of operating an asset exchange marketplace, the method comprising:
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activating seller nodes to enable participation of sellers in the asset exchange marketplace; activating bidder nodes to enable participation of bidders in the asset exchange marketplace; facilitating offering and bidding exchanges among the seller and bidder nodes as a function of representations of the sellers'"'"' auction assets and auction desires and the bidders'"'"' bidding assets and bid-on auction assets; and transmitting messages to the seller and bidder nodes to cause the nodes to recognize a state of an exchange of the sellers'"'"' and bidders'"'"' assets.
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47. A device for supporting asset exchanges in a network, the device comprising:
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communication ports associated with respective entity interface devices, communication ports associated with selling entity interface devices being in a selling state, and communication ports associated with bidding entity interface devices being in a bidding state; a processor configured to change the state of a communication port from a selling state to a bidding state or a bidding state to a selling state by transmitting over a given communication port a message including a representation of an offer for an asset associated with another communication port.
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Specification