Automated Exchange for the Efficient Assignment of Audience Items
First Claim
1. An automated exchange system including a smart electronic double auction for allocating audience items among prospective buyers and sellers and for calculating a set of prices for the audience items based on buyer bids from the buyers and seller offers from the sellers, comprising:
- remote terminals for initiating and transmitting data including buyer bids and seller offers; and
a central trade exchange system includinga trading system forreceiving buyer bids entered by a buyer and seller offers entered by a seller, each from said remote terminals,processing the buyer bids and the seller offers,identifying a set of trades in audience items between buyers and sellers which optimize gains obtained by buyers and sellers from the set of trades in audience items based on the bids and offers received by said trading system, andcalculating a price for each audience item in the set of trades,wherein the audience items comprise a plurality of categories, and wherein the sellers can submit a unique offer for each category in the plurality of categories.
1 Assignment
0 Petitions
Accused Products
Abstract
An automated exchange system is provided which includes a smart electronic double auction for allocating audience items among prospective buyers and sellers and for calculating a set of prices for the audience items based on buyer bids from the buyers and seller offers from the sellers, including remote terminals for initiating and transmitting data including buyer bids and seller offers; and a central trade exchange system including a trading means for receiving buyer bids and seller offers from said remote terminals, simultaneously processing the buyer bids and the seller offers, identifying a set of trades in audience items between buyers and sellers which optimize gains obtained by buyers and sellers from the set of trades in audience items based on the bids and offers received by said trading means, and calculating a price for each audience item in the set of trades, and identifying rejected buyer bids and rejected seller offers.
6 Citations
19 Claims
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1. An automated exchange system including a smart electronic double auction for allocating audience items among prospective buyers and sellers and for calculating a set of prices for the audience items based on buyer bids from the buyers and seller offers from the sellers, comprising:
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remote terminals for initiating and transmitting data including buyer bids and seller offers; and a central trade exchange system including a trading system for receiving buyer bids entered by a buyer and seller offers entered by a seller, each from said remote terminals, processing the buyer bids and the seller offers, identifying a set of trades in audience items between buyers and sellers which optimize gains obtained by buyers and sellers from the set of trades in audience items based on the bids and offers received by said trading system, and calculating a price for each audience item in the set of trades, wherein the audience items comprise a plurality of categories, and wherein the sellers can submit a unique offer for each category in the plurality of categories. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. An automated method of allocating audience items among prospective buyers and sellers based on buyer bids from the buyers and seller offers from the sellers, comprising the steps of:
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in a trading system comprising a computer having a processor, data storage and software for operating an automated exchange, receiving buyer bids to buy audience items and seller offers to sell audience items, wherein the buyer bids specify reach and/or frequency requirements; processing the buyer bids and the seller offers; identifying, given constraints imposed by individual reach and/or frequency of requirements of buyers, all different possible sets of trades between buyers and sellers in audience items and identifying a set of trades in audience items which optimize gains obtained by buyers and sellers based on the bids and the offers received by the computer; calculating a price for each audience item in a set of trades that optimize gains obtained by buyers and sellers; and identifying rejected buyer bids and rejected seller offers; transmitting electronic notifications of accepted buyer bids and seller offers forming the set of trades, and said rejected buyer bids and said rejected seller offers, to respective remote buyer terminals and remote seller terminals. - View Dependent Claims (9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19-22. -22. (canceled)
Specification