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System and method for conducting securities transactions over a computer network

  • US 6,408,282 B1
  • Filed: 04/15/1999
  • Issued: 06/18/2002
  • Est. Priority Date: 03/01/1999
  • Status: Expired due to Term
First Claim
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1. A computer system supporting user-to-user trading of securities comprising:

  • software for receiving over a network an offer to sell a fixed amount of a certain security from a first user computer;

    software for revising a first list of offers to sell said certain security stored in a first database, wherein said first list of offers to sell comprises current offers to sell fixed amounts of said certain securities received from user computers, and wherein said revising comprises adding said offer to sell received from said first user computer to said first list stored in said first database;

    software for synchronizing a first list of offers to sell stored in said first database with a second list of offers to sell stored in a second database in response to revising of said first list of offers to sell, wherein said synchronizing comprises revising said second list of offers to sell to reflect revisions made to said first list of offers to sell;

    software for retrieving from said second list of offers to sell stored in said second database said offer to sell from said first user computer and communicating over the network said offer to sell from said first user to other user computers of users participating in the user-to-user trading and currently subscribed to receive updates of offers to sell the certain securities;

    software for electronically receiving over the network an acceptance of said offer to sell from said first user, said acceptance provided by a second user computer;

    software for revising said second list of offers to sell stored on said second database by removing said offer to sell from said first user from said second list of offers to sell stored in said second database; and

    software for synchronizing said second list of offers to sell with said first list of offers to sell in response to revising of said second list of offers to sell, wherein said synchronizing comprises revising said first list of offers to sell to reflect revisions made to said second list of offers to sell.

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