Electronic bartering system

• US 7,133,847 B2
• Filed: 08/03/2001
• Issued: 11/07/2006
• 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:
  US09/921,610
• Publication Number:
  US 20020032643A1
• Time in Patent Office: 1,922 Days
• Field of Search: 705/30, 705/35, 705/36, 705/37, 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 facilitating the bartering of publicly traded securities on a computerized system, comprising:

receiving on the computerized system a first barter order from a user including;

a first security including a quantity thereof to be sold in a barter,

a second security different from the first security to be purchased in said barter concurrent with the sale of the first security, and

a condition relating to the value of said barter under which condition said barter may be executed;

comparing on the computerized system said first barter order to a list including multiple barter orders, each of said barter orders including;

a first security including a quantity thereof to be sold in a barter,

a second security different from the first security to be purchased in said barter concurrent with the sale of the first security, and

a condition relating to the value of said barter under which condition said barter may be executed;

determining from said list a plurality of selected barter orders which, if executed, will consummate said first barter order and one or more of said list of plurality of selected barter orders;

transmitting to said user, based on said determining, an indication that said first barter order may be executed;

communicating to said user a value indicator based upon 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; and

receiving from said user a request to execute said barter order.

2. The method of claim 1 wherein said receiving further comprises receiving a time within which said barter may occur.

3. The method of claim 1 wherein each of said barter orders further includes a time within which said barter order may occur.

4. The method of claim 1 further comprising executing a selected barter order by using a matching engine to link multiple barter orders.

5. The method of claim 1 wherein said first barter order further includes a quantity of said second security.

6. The method of claim 1 further comprising transmitting to multiple parties an indication that said first barter order may be executed.

7. The method of claim 1 further comprising displaying an available quantity of a security to be bartered.

8. The method of claim 7 further comprising displaying a remaining quantity of a security to be bartered, after a portion of said available amount is bartered.

9. A computerized system for facilitating the bartering of publicly traded securities, comprising:

a memory; and

a processor disposed in communication with said memory, said processor configured to

receive a first barter order from a user including;

a first security including a quantity thereof to be sold in a barter,

a second security different from said first security to be purchased in said barter concurrent with the sale of said first security, and

a condition relating to the value of said barter under which condition said barter may be executed;

compare said first barter order to a list including multiple barter orders, each of said barter orders including;

a first security including a quantity thereof to be sold in a barter,

a second security different from said first security to be purchased in said barter concurrent with the sale of said first security, and

a condition relating to the value of said barter under which condition said barter may be executed;

determine from said list a plurality of selected barter orders which, if executed, will consummate said first barter order and one or more of said list of plurality of selected barter orders;

transmit to said user, based on said determining, an indication that said first barter order may be executed;

communicate to said user a value indicator based upon 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; and

receive from said user a request to execute said barter order.

11. The system of claim 9 wherein said processor is further configured to execute a selected barter order by using a matching engine to link multiple barter orders.

13. The system of claim 9 further comprising means for transmitting to multiple parties an indication that said first barter order may be executed.

14. The system of claim 9 wherein said processor is configured to display an available quantity of a security to be bartered.

10. A computerized system for facilitating the bartering of publicly traded securities, comprising:

means for receiving a first barter order from a user including;

a first security including a quantity thereof to be sold in a barter,

a second security different from said first security to be purchased in said barter concurrent with the sale of said first security, and

a condition relating to the value of said barter under which condition said barter may be executed;

means for comparing said first barter order to a list including multiple barter orders, each of said barter orders including;

a first security including a quantity thereof to be sold in a barter,

a second security different from said first security to be purchased in said barter concurrent with the sale of said first security, and

a condition relating to the value of said barter under which condition said barter may be executed;

means for determining from said list a plurality of selected barter orders which, if executed, will consummate said first barter order and one or more of said list of plurality of selected barter orders;

means for transmitting to said user, based on said determining, an indication that said first barter order may be executed;

means for communicating to said user a value indicator based upon 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; and

means for receiving from said user a request to execute said barter order.

12. The system of claims 9 or 10 wherein said first barter order further includes a quantity of said second security and a time within which said barter may occur.

15. The system of 14 wherein said processor is configured to display a remaining quantity of a security to be bartered, after a portion of said available quantity is bartered.

16. A method for facilitating the bartering of publicly traded securities on a computerized system, comprising:

storing on the computerized system a plurality of barter orders, each including;

a first security including a quantity thereof to be sold in a barter,

a second security different from said for security to be purchased in said barter concurrent with the sale of said first security, and

a condition relating to the value of said barter under which condition said barter may be executed;

identifying from said plurality of barter orders a first barter order to be executed;

determining from said plurality of barter orders at least two additional barter orders which, if executed, will consummate the first barter order and the at least two additional barter orders;

developing a value indicator based upon 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; and

initiating a barter including the first barter order and the at least two additional barter orders.

17. The method of claim 16 wherein each of the plurality of barter orders further includes a time within which said barter may occur.

18. The method of claim 16 further comprising using a matching engine to identify the at least two additional barter orders.

19. The method of claim 16 wherein each of the plurality of barter orders further includes a quantity of the second security.

20. The method of claim 16 further comprising displaying a remaining quantity of a security to be bartered, after a portion of the available amount is bartered.

21. A system for facilitating the bartering of publicly traded securities, comprising:

a processor;

a memory connected to the processor storing instructions to control the operation of the processor and further storing a plurality of barter orders, each including;

a first security including a quantity thereof to be sold in a barter,

a second security different from said first security to be purchased in said barter concurrent with the sale of said first security, and

a condition relating to the value of said barter under which condition said barter may be executed;

the processor operative with the instructions in the memory to perform the steps of;

identifying from said plurality of barter orders a first barter order to be executed;

determining from said plurality of barter orders at least two additional barter orders which, if executed, will consummate the first barter order and the at least two additional barter orders;

developing a value indicator based upon 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; and

initiating a barter including the first barter order and the at least two additional barter orders.

22. The system of claim 21 wherein each of the plurality of barter orders further includes a time within which said barter may occur.

23. The system of claim 21 further comprising using a matching engine to identify the at least two additional barter orders.

24. The system of claim 21 wherein each of the plurality of barter orders further includes a quantity of said second security.

25. The system of claim 21 wherein the processor is further configured to display a remaining quantity of a security to be bartered, after a portion of the available amount is bartered.

26. A system for facilitating the bartering of publicly traded securities, comprising:

means for storing on the computerized system a plurality of barter orders, each including;

a first security including a quantity thereof to be sold in a barter,

a second security different from said first security to be purchased in said barter concurrent with the sale of said first security, and

a condition relating to the value of said barter under which condition said barter may be executed;

means for identifying from said plurality of barter orders a first barter order to be executed;

means for determining from said plurality of barter orders at least two additional barter orders which, if executed, will consummate the first barter order and the at least two additional barter orders;

means for developing a value indicator based upon 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; and

means for initiating a barter including the first barter order and the at least two additional barter orders.

27. The system of claim 26 wherein each of the plurality of barter orders further includes a time within which said barter may occur.

28. The system of claim 26 wherein the determining means includes a matching engine to identify the at least two additional barter orders.

29. The system of claim 26 wherein each of the plurality of barter orders further includes a quantity of said second security.

30. The system of claim 26 further comprising displaying a remaining quantity of a security to be bartered, after a portion of said available amount is bartered.