Method and apparatus for a credibility reporting system to augment an online exchange

• US 6,938,003 B2
• Filed: 06/30/2001
• Issued: 08/30/2005
• Est. Priority Date: 06/30/2000
• Status: Expired due to Fees

• Current Assignee: KCG IP HOLDINGS LLC
• Original Assignee: Mahesh Harpale
• Inventors: Harpale, Mahesh
• Primary Examiner(s): Coggins, Wynn W
• Assistant Examiner(s): HAQ, NAEEM U
• Application Number:
  US09/895,563
• Publication Number:
  US 20020002512A1
• Time in Patent Office: 1,522 Days
• Field of Search: 705/26, 705/27
• US Class Current: 705/26.35
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A method and apparatus for capturing trade-action data pertaining to credibility of participants, across multiple independent electronic marketplaces, in an online business. The invention utilizes a publicly or privately accessible service provider computer program that uniquely identifies user'"'"'s credentials across multiple independent marketplaces, and non-intrusively records trade action data at specific stages of the transaction. Service provider computer program correlates, and analyzes recorded trade actions, and transaction patterns to create credibility ratings that show efficiency and effectiveness of the transaction performed. Credibility ratings aid in decision making process by disclosing true intention of participants to make a successful online transaction based on earlier captured trade actions to provide uniform ratings by capturing specific set of data across multiple independent exchanges and tracking uniform transaction patterns. In one or more embodiments the invention utilizes a computer program that interfaces with an exchange computer program for the electronic marketplace to provide notification of trade actions. Service provider computer program provides validation of user and exchange credentials by using locally stored encrypted data and provides mapping to identify user across multiple independent exchanges.

Claims

1. A method for displaying rating analysis in an on-line transaction by capturing, and analyzing data relating to trade actions for past as well current on-line transaction across multiple independent marketplaces with uniform rating criteria, comprising the steps of:

(a) recognizing using a computerized system, across a plurality of independent electronic marketplaces, credentials of a participant in said on-line transaction;

(b) validating and recording trade actions of said participant during said on-line transaction for an electronic marketplace independently and transparently, using said computerized system;

(c) storing and maintaining recorded trade action data for plurality of on-line transactions across plurality of independent electronic marketplaces, using said computerized system;

(d) analyzing, and correlating trade actions and transaction patterns from recorded data of said on-line transactions across said plurality of independent electronic marketplaces, using said computerized system;

(e) creating a rating analysis of said participant by utilizing uniform criteria across said plurality of independent electronic marketplaces and said analyzed and correlated trade actions and transaction patterns of said on-line transactions across said plurality of independent electronic marketplaces, using said computerized system; and

(f) disclosing said rating analysis of said participant across said plurality of independent electronic marketplaces, using said computerized system, said rating analysis disclosing credibility of said participant to make an online trade.

2. A credibility reporting system comprising:

(a) a computer processor usable medium accessible for public or private electronic communication comprising;

(1) a computer processor readable program embodied therein for providing an electronic transaction; and

(2) a computer processor readable program embodied therein for providing notification of a trade action in said electronic transaction;

(b) a computer processor usable medium accessible for public or private electronic communication comprising;

(1) a computer processor readable program embodied therein for recognizing credentials of a participant in a trade action across a plurality of independent electronic marketplaces;

(2) a computer processor readable program embodied therein for providing record of said trade actions of said participant;

(3) a computer processor readable program embodied therein for analyzing and correlating recorded trade actions and transaction patterns from recorded data of said trade actions across said plurality of independent electronic marketplaces;

(4) a computer processor readable program embodied therein for creating a rating analysis of said participant by utilizing uniform criteria across said plurality of independent electronic marketplaces and said analyzed and correlated trade actions across said plurality of independent electronic marketplaces; and

(5) a computer processor readable program embodied therein for disclosing said rating analysis of said participant across said plurality of independent electronic marketplaces, said rating analysis disclosing credibility of said participant to make an online trade.