Systems and methods for trading and originating financial products using a computer network
First Claim
1. A computerized method for trading financial products over a computer network, comprising:
- receiving seller information from a first client device over said network, the seller information relating to a financial product offered for sale on behalf of a seller, at least some of the seller information comprising due diligence information, the due diligence information fulfilling at least a portion of a request for due diligence on the financial product;
storing the seller information about the financial product in a database;
making the due diligence information available over said network to a second client device on behalf of a potential buyer of the financial product;
storing in the database data of whether a potential buyer has obtained said due diligence information; and
storing in the database a bid for the financial product from the second client only if the second client has obtained the due diligence information, wherein said bid is data comprising at least an amount offered to purchase said financial product.
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Accused Products
Abstract
The invention relates to systems and methods for trading financial products over a computer network, such as the Internet. In one embodiment, the invention provides a method for trading financial products over a computer network. Seller information is received from a first client, the seller information relating to a financial product offered for sale on behalf of a seller, at least some of the seller information comprising due diligence information, the due diligence information capable of fulfilling at least a portion of a request for due diligence on the financial product. The seller information about the financial product is stored in a database. A second client is provided with an opportunity to obtain the due diligence information on behalf of a potential buyer of the financial product. A bid is stored for the financial product from the second client in the database, if it can be shown that second client has obtained the due diligence information.
115 Citations
22 Claims
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1. A computerized method for trading financial products over a computer network, comprising:
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receiving seller information from a first client device over said network, the seller information relating to a financial product offered for sale on behalf of a seller, at least some of the seller information comprising due diligence information, the due diligence information fulfilling at least a portion of a request for due diligence on the financial product; storing the seller information about the financial product in a database; making the due diligence information available over said network to a second client device on behalf of a potential buyer of the financial product; storing in the database data of whether a potential buyer has obtained said due diligence information; and storing in the database a bid for the financial product from the second client only if the second client has obtained the due diligence information, wherein said bid is data comprising at least an amount offered to purchase said financial product. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A computerized exchange apparatus for trading financial products, wherein the exchange is accessible using a computer network, comprising:
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a server in operable communication with a client, the server programmed for receiving requests from a client to price a financial product offered for sale; a pricing engine in communication with the server, the pricing engine computing a price for the financial product offered for sale, the price based at least in part on at least one of the following;
market information, information that the seller has provided about the financial product, information that the client provides about the financial product, due diligence information, and trade history information; anda database storing information relating to the least one financial product offered for sale and the computed price for that financial product, wherein the server is further programmed to provide the seller of the financial product with a bid on a financial product that was received from a bidder only if the bidder has received the due diligence information from the computerized exchange apparatus. - View Dependent Claims (17, 18)
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19. A computerized apparatus for trading financial products, comprising:
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means for receiving information about at least one financial product for sale, the information including due diligence information capable of fulfilling at least a portion of a request for due diligence on the financial product; means for storing data relating to due diligence information; means for computing a price on the financial product, the price based at least in part on at least one of the following;
market information, information received about the financial product, due diligence information, and trade history information;means for providing a potential bidder on the financial product with the due diligence information and a price for the financial product; and means for storing a bid on the financial product only if the bidder has received the due diligence information on the financial product from the computerized apparatus.
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20. A computerized method for trading financial products over a computer network, comprising:
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receiving seller information from a first client device over said network, the seller information relating to a financial product offered for sale on behalf of a seller, at least some of the seller information comprising due diligence information, the due diligence information fulfilling at least a portion of a request for due diligence on the financial product; storing the seller information about the financial product in a database; making the due diligence information available over said network to a second client device on behalf of a potential buyer of the financial product before a bid is entered, said bid being data comprising at least an amount offered to purchase said financial product; and storing in the database a bid for the financial product from the second client if the second client has obtained the due diligence information.
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21. A computerized method for trading financial products over a computer network, comprising:
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receiving seller information from a first client device over said network, the seller information relating to a financial product offered for sale on behalf of a seller, at least some of the seller information comprising due diligence information, the due diligence information fulfilling at least a portion of a request for due diligence on the financial product; storing the seller information about the financial product in a database; making the due diligence information available over said network to a second client device on behalf of a potential buyer of the financial product; storing in the database data relating to whether or not a potential buyer has obtained said due diligence information; and storing in the database a bid for the financial product from the second client if the second client has obtained the due diligence information, wherein said bid is data comprising at least an amount offered to purchase said financial product.
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22. A computerized method for trading financial products over a computer network, comprising:
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receiving seller information from a first client device over said network, the seller information relating to a financial product offered for sale on behalf of a seller, at least some of the seller information comprising due diligence information, the due diligence information fulfilling at least a portion of a request for due diligence on the financial product; storing the seller information about the financial product in a database; making the due diligence information available over said network to a second client device on behalf of a potential buyer of the financial product; storing in the database data relating to whether or not a potential buyer has obtained said due diligence information; and storing in the database a bid for the financial product from the second client, wherein said bid is data comprising at least an amount offered to purchase said financial product.
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Specification