Electronic bartering system

• US 7,080,050 B1
• Filed: 12/03/1999
• Issued: 07/18/2006
• Est. Priority Date: 08/05/1999
• Status: Expired due to Term

• Current Assignee: Bartersecurities Incorporated
• Original Assignee: Bartersecurities Incorporated
• Inventors: Himmelstein, Richard
• Primary Examiner(s): Backer, Firmin
• Application Number:
  US09/454,035
• Time in Patent Office: 2,419 Days
• Field of Search: 705/37, 705/35, 705/36, 705/80
• US Class Current: 705/80
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

A bartering system implements barters between a plurality of parties each having one or more classes of items available for barter. Preferably, barter orders are created by designating a selected quantity of a first class of items to be bartered, designating a date range for transferring title of the first class items to be bartered, designating a barter value of the first class of items to be bartered, and designating a second class of items to be acquired. Barter orders are posted via the Internet to a barter database and may be displayed via the Internet. Posted barter orders whose first class of items match the second class of items of a barterer'"'"'s order are preferably displayed. Posted barter orders from the display are selected to effectuate a barter transaction which combines a barterer'"'"'s barter order with the selected posted order(s).

Claims

1. A method for bartering publicly traded securities on a computerized system, comprising:

displaying a plurality of barter orders to a user, each of said barter orders comprising a first security and a second security to be exchanged in a barter transaction, the second security different than the first security;

communicating in association with each barter order a value ratio determined by a combination of the ratios x/y and a/b where;

a=a sale value of the first security to be sold, b=a market price of the first security to be sold, x=the purchase value of the second security to be acquired and y=a market price of the second security to be acquired;

receiving from said user a barter order selection for processing;

transmitting the barter order selection to a third party for processing;

receiving a confirmation of the processing of said barter order selection; and

displaying said confirmation to said user.

3. The method of claims 1 or 2 wherein said first security or said second security is selected from the group consisting of:

stocks, cash, certificates of deposit, barter dollars, notes, bonds, stock options, himmelstein options, option puts, option calls, commodities, futures, annuities, muni bonds, government bonds, funds, strips, Ginnie Maes, Fannie Maes, Freddie Macs, unit investment trusts, T-bills, and commodity money.

4. The method of claim 1 wherein said third party comprises a processor remote from said user.

5. The method of claim 1 wherein the value ratio comprises a value ratio, percentage or dollar amount for display.

7. The method of claims 5 or 6 wherein said value ratio is optionally modified by adding or subtracting a predetermined value or variable.

8. The method of claims 5 or 6 wherein said value ratio is calculated based on a formula (x/y)/(a/b), wherein said ratio is optionally modified by adding or subtracting a predetermined value or variable.

9. The method of claims 5 or 6 wherein said value ratio is calculated based on a formula (a/b)/(x/y), wherein said ratio is optionally modified by adding or subtracting a predetermined value or variable.

10. The method of claims 5 or 6 wherein said value ratio is calculated based on a formula (b/a)−

(y/x), wherein said ratio is optionally modified by adding or subtracting a predetermined value or variable.

11. The method of claims 5 or 6 wherein b=a market price of said first security plus future interest income from said first security and y=a market price of said second security plus future interest income from said second security, wherein said ratio is optionally modified by adding or subtracting a predetermined value or variable.

12. The method of claims 5 or 6 wherein said value ratio is calculated based on a formula (x/y)/(a/b), wherein b=a market price of said first security plus future interest income from said first security, and y=a market price of said second security plus future interest income from said second security, wherein said ratio is optionally modified by adding or subtracting a predetermined value or variable.

13. The method o claims 5 or 6 wherein said value ratio is calculated based on a formula (a/b)/(x/y), wherein b=a market price of said first security plus future interest income from said first security and y=a market price of said second security plus future interest income from said second security, wherein said ratio is optionally modified by adding or subtracting a predetermined value or variable.

14. The method of claims 5 or 6 wherein said value ratio is calculated based on a formula (b/a)−

(y/x), wherein b=a market price of said first security plus future interest income from said first security and y=a market price of said second security plus future interest income from said second security, wherein said ratio is optionally modified by adding or subtracting a predetermined value or variable.

20. The method of claim 1 wherein said receiving a barter order selection comprises receiving said barter order selection via information inputted through a graphical user interface.

21. The method of claims 1 or 2 further comprising displaying information to assist in determining whether a particular barter order is financially advantageous to a barterer.

22. The method of claims 1 or 2 wherein a quantity of said first security or said second security is a decimal amount.

23. The method of claims 1 or 2 further comprising modifying a barter order by a maintenance program to account for a change in stock symbol or account number.

24. The method of claims 1 or 2 further comprising displaying an available quantity of a security to be bartered.

25. The method of claim 24 further comprising displaying a remaining quantity of a security to be bartered, after a portion of said available amount is bartered.

2. A method for bartering publicly traded securities on a computerized system, comprising:

identifying a barter order selection for processing, said barter order selection comprising

a first security and a second security to be exchanged in a barter transaction, the first security different than the second security, and a value ratio determined by a combination of the ratios x/y and a/b where;

a=a sale value of the first security to be sold, b=a market price of the first security to be sold, x=the purchase value of the second security to be acquired and y=a market price of the second security to be acquired;

transmitting the barter order selection to a third party for processing; and

receiving a confirmation of the processing of said barter order selection.

6. The method of claim 2 wherein the value ratio comprises a value ratio, percentage or dollar amount for display.

15. The method of claim 2 wherein said computerized system comprises a telephone system.

16. The method of claim 2 wherein said third party comprises a processor remote from said user.

17. The method of claim 2 further comprising selecting a dividend reinvestment option selected from the group consisting of:

no preference, stock with a dividend reinvestment program, and stock without a dividend reinvestment program.

18. The method of claim 2 wherein said identifying a barter order selection comprises transmitting said barter order selection through a graphical user interface.

19. The method of claim 2 further comprising displaying real time changes for a plurality of barter orders for possible selection.

26. A computerized system for bartering publicly traded securities, comprising:

means for displaying a plurality of barter orders to a user, each of said barter orders comprising a first security, a second security different than the first security to be exchanged in a barter transaction, and a value ratio determined by a combination of the ratios x/y and a/b where;

a=a sale value of the first security to be sold, b=a market price of the first security to be sold, x=the purchase value of the second security to be acquired and y=a market price of the second security to be acquired;

means for receiving from said user a barter order selection for processing;

means for transmitting the barter order selection to a third party for processing;

means for receiving a confirmation of the processing of said barter order selection; and

means for displaying said confirmation to said user.

27. A computerized system for bartering publicly traded securities, comprising:

means for identifying a barter order selection for processing, said barter order selection comprising a first security, a second security to be exchanged in a barter transaction, the second security different than the first security, and a value ratio determined by a combination of the ratios x/y and a/b where;

a=a sale value of the first security to be sold, b=a market price of the first security to be sold, x=the purchase value of the second security to be acquired and y=a market price of the second security to be acquired;

means for transmitting the barter order selection to a third party for processing; and

means for receiving a confirmation of the processing of said barter order selection.

28. A system for bartering publicly traded securities on a computerized system, comprising:

a processor;

a display connected to the processor

a memory connected to the processor and containing instructions for controlling the operation of the processor, the processor operative with the instructions in the memory to perform the steps of;

displaying on the display a plurality of barter orders to a user, each of said barter orders comprising a first security and a second security to be exchanged in a barter transaction, the second security different than the first security;

communicating in association with each barter order a value ratio determined by a combination of the ratios x/y and a/b where;

a=a sale value of the first security to be sold, b=a market price of the first security to be sold, x=the purchase value of the second security to be acquired and y=a market price of the second security to be acquired;

receiving from said user a barter order selection for processing; and

transmitting the barter order selection to a third party for processing.