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SYSTEMS AND METHODS FOR PRE-PAID FUTURES PROCUREMENT

  • US 20100268611A1
  • Filed: 04/21/2009
  • Published: 10/21/2010
  • Est. Priority Date: 04/21/2009
  • Status: Active Grant
First Claim
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1. A system for processing a commodity transaction for a fixed price, the system comprising:

  • an interface operable to receive information about a transaction from a merchant point-of-sale device, wherein the information about the transaction includes an identifier for a customer account and a price for the transaction;

    an identifier component in communication with the interface, the identifier component operable to determine whether the received identifier is related to a fixed price agreement;

    a settlement engine in communication with the identifier component, the settlement engine operable to settle the transaction; and

    a broker in communication with the settlement engine and the identifier component, the broker operable to receive the transaction information when the identifier component determines the received identifier is related to a fixed price agreement, the broker operable to generate a resettlement transaction for the difference between the fixed price in the fixed price contract and the price for the transaction and send the resettlement transaction to the settlement engine.

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