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System and method for electronic trading and delivery of a commoditized product

  • US 7,584,135 B1
  • Filed: 05/17/2001
  • Issued: 09/01/2009
  • Est. Priority Date: 05/17/2000
  • Status: Active Grant
First Claim
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1. A method for facilitating trading of a commoditized product comprisingelectronically receiving at least one sell order from at least one seller to sell a commoditized product;

  • electronically receiving at least one buy order from at least one buyer to buy a commoditized product;

    electronically matching the at least one sell order with the at least one buy order;

    receiving commoditized product from the at least one seller;

    physically qualifying the commoditized product after it is received from the at least one seller and before it is distributed to the at least one buyer;

    distributing a seller payment to the at least one seller;

    receiving a buyer payment from the at least one buyer; and

    distributing commoditized product to the at least one buyer.

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