Method and system for listing, brokering, and exchanging carrier capacity

• US 5,724,524 A
• Filed: 12/15/1995
• Issued: 03/03/1998
• Est. Priority Date: 12/15/1995
• Status: Expired due to Fees

• Current Assignee: Pitney Bowes Incorporated (Böwe Systec AG)
• Original Assignee: Pitney Bowes Incorporated (Böwe Systec AG)
• Inventors: Hunt, William M., Levitsky, Paul A.
• Primary Examiner(s): McElheny, Jr., Donald E.
• Application Number:
  US08/572,769
• Time in Patent Office: 809 Days
• Field of Search: 395/237, 395/208, 395/209, 364/424.027, 364/424.029, 364/424.031, 364/468.05, 364/468.06
• US Class Current: 705/37
• CPC Class Codes: G06Q 10/08 Logistics, e.g. warehousing, loading or distribution; Inventory or stock management
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

The invention is a method and system for listing and brokering a commodity and its financial derivatives. The method identifies a plurality of characteristics of a particular commodity, and then enters those characteristics into the database of a data processing system utilizing a real-time clock. An exchange market for the commodity is established based upon a pre-selected set of its characteristics; and, after a market price for the commodity has been set, a class (or classes) of financial derivatives is established together with a financial exchange market for those derivatives. The characteristics of the derivatives comprise: a common descriptive link between varied commodity types; a contract length that runs from the purchase date of the contract to the performance date for the commodity; and, a contract price. The system of the subject invention comprises a number of elements which include: data processing means; means for determining whether a match exists based upon a comparison of the commodity offered for sale and that requested for purchase or exchange; display means; means for selecting the matched entry for purchase and/or exchange; and means for determining and selecting a class of financial derivatives. The data processing means of the system, in turn, further comprises a system controller which is further comprised of: a data processing system; data entry means; memory means; and, communication means for communicating data between the system controller and a plurality of input and output points.

Claims

1. A method for listing and brokering carrier space comprising the steps of:

(a) identifying a plurality of characteristics of said carrier space and entering said plurality of characteristics into a data processing system to establish a first exchange market for said carrier space based upon said plurality of characteristics;

(b) identifying a market value for said carrier space and listing said value on said first exchange market

(c) determining a class of derivatives based upon a pre-selected subset of said plurality of characteristics; and

(d) establishing a second exchange market in respect of said derivatives.

2. The method of claim 1, wherein said first exchange market and said second exchange market are co-located within said data processing system.

3. The method of claim 1, wherein said data processing system utilizes a real time clock whereby said system can determine when said commodity listed in said data processing system can no longer be accessed because of a time/date threshold.

4. The method of claim 3, wherein said plurality of characteristics comprises:

(a) a geographic start point and a geographic end point;

(b) a start date and a finish date;

(c) a start time and a finish time;

(d) a volume;

(e) a mode of transportation; and

(f) a cost.

5. The method of claim 3, wherein said second plurality of characteristics comprises a Shipping Equivalent Unit.

6. The method of claim 5, wherein said Shipping Equivalent Unit further comprises:

(a) a common descriptive link between varied commodity types;

(b) a time period between contract date of said commodity and an expiration date for said contract; and

(c) a contract price.

7. The method of claim 6, wherein said common descriptive link comprises said start date and said finish date.

8. The method of claim 6, wherein said common descriptive link comprises a geographic region.

9. The method of claim 6, wherein said common descriptive link comprises a mode of transportation.

10. The method of claim 6, wherein said common descriptive link comprises a value per unit of measure.

11. The method of claim 3, wherein said entry of said plurality of characteristics of said carrier space comprises the steps of:

(a) determining whether or not said carrier space is being identified to said data processing system for a first instance; and

(b) storing said plurality of characteristics in a commodity database if said entry is of said first instance; and

, determining status of said commodity if said entry is not of said first instance.

12. The method of claim 3, wherein determination of each of said class of derivatives comprises the steps of:

(a) determining whether or not said each derivative is being identified to said data processing system for a first instance; and

(b) storing said plurality of characteristics in a derivatives database if said entry is of said first instance; and

, determining status of said each derivative if said entry is not of said first instance.

13. The method of claim 12, wherein said determination of status of said carrier space comprises:

(a) determining whether or not said carrier space is to be exchanged or sold; and

, if said carrier space is not to be exchanged or sold then determining whether or not said carrier space is a derivative; and

(b) determining that if said carrier space is not to be exchanged or sold, and that said commodity is not a derivative, than said commodity is to be purchased or sold.

14. A system for listing and brokering a commodity comprising:

(a) data processing means for accepting and storing a first listing and/or subsequent listings of commodity parameters available where said commodity is available for sale or exchange, and wherein said data processing means has a real-time clock for comparing actual time with said commodity parameters;

(b) data processing means for entering a second listing of commodity parameters where said commodity is available for purchase or exchange;

(c) means for determining a matched entry on said first listing and/or said subsequent listings and said second listing based upon said comparison of said first listing and/or subsequent listings to said second listing;

(d) means for displaying said matched entry to a system operator;

(e) means for selecting said matched entry for purchase and/or exchange;

(f) means for determining a class of financial derivatives based upon a pre-determined set of characteristics resident in said commodity; and

(g) means for selecting said class of derivatives for purchase and/or exchange.

15. The system of claim 14, wherein said data processing means further comprises a system controller;

said system controller further comprising;

(a) a data processing system comprising programs for the management of data;

(b) data entry means for entering data to said data processing system;

(c) memory means for storing data; and

(d) communication means for communicating data between said system controller and a plurality of input and output points;

said plurality of input and output points for the input and output of data and comprising;

(i) one or more commodity input points;

(ii) one or more commodity receiver points;

(iii) one or more commodity brokerage points; and

(iv) one or more derivative exchange points.

16. The method of claim 15, wherein a plurality of said plurality of input and output points are co-located.