Electronic bartering system
First Claim
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 comprising;
a first security comprising a quantity thereof to be sold in said first barter order,a second security different from the first security to be purchased in said first barter order concurrent with the sale of the first security, anda condition relating to the value of said first barter order under which condition said first barter order is available to be executed;
comparing on the computerized system said first barter order to a list comprising multiple barter orders, each of said multiple barter orders comprising;
a first security comprising 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, anda condition relating to the value of said barter under which condition said barter is available to be executed;
determining, on the computerized system, from said list a plurality of selected barter orders which, if executed, will consummate said first barter order and one or more of said plurality of selected barter orders;
transmitting from the computerized system to said user, based on said determining, an indication that said first barter order is available to be executed; and
receiving by the from said user a request to execute said first barter order.
1 Assignment
0 Petitions
Accused Products
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).
122 Citations
28 Claims
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1. A method for facilitating the bartering of publicly traded securities on a computerized system, comprising:
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receiving on the computerized system a first barter order from a user comprising; a first security comprising a quantity thereof to be sold in said first barter order, a second security different from the first security to be purchased in said first barter order concurrent with the sale of the first security, and a condition relating to the value of said first barter order under which condition said first barter order is available to be executed; comparing on the computerized system said first barter order to a list comprising multiple barter orders, each of said multiple barter orders comprising; a first security comprising 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 is available to be executed; determining, on the computerized system, from said list a plurality of selected barter orders which, if executed, will consummate said first barter order and one or more of said plurality of selected barter orders; transmitting from the computerized system to said user, based on said determining, an indication that said first barter order is available to be executed; and receiving by the from said user a request to execute said first barter order. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A computerized system for facilitating the bartering of publicly traded securities, comprising:
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a memory; and a processor disposed in communication with said memory, said processor programmed to; receive a first barter order from a user comprising; a first security comprising a quantity thereof to be sold in said first barter order, a second security different from said first security to be purchased in said first barter order concurrent with the sale of said first security, and a condition relating to the value of said first barter order under which condition said first barter order is available to be executed; compare said first barter order to a list comprising multiple barter orders, each of said multiple barter orders comprising; a first security comprising 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 is available to 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 plurality of selected barter orders; transmit to said user, based on said determining, an indication that said first barter order is available to be executed; and receive from said user a request to execute said first barter order.
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12. A computerized system for facilitating the bartering of publicly traded securities, comprising:
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means for receiving a first barter order from a user comprising; a first security comprising a quantity thereof to be sold in said first barter order, a second security different from said first security to be purchased in said first barter order concurrent with the sale of said first security, and a condition relating to the value of said first barter order under which condition said first barter order is available to be executed; means for comparing said first barter order to a list comprising multiple barter orders, each of said multiple barter orders comprising; a first security comprising 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 is available to 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 plurality of selected barter orders; means for transmitting to said user, based on said determining, an indication that said first barter order is available to be executed; and means for receiving from said user a request to execute said first barter order.
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13. A method for bartering publicly traded securities on a computerized system, comprising:
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displaying by the computerized system a plurality of barter orders to a user, each of said plurality of 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 by the computerized system in association with each of said plurality of barter orders a value indicator showing a gain or loss on the barter transaction based on a value ratio determined using a market value of the first security and a market value of the second security; and receiving by the computerized system from said user selection for of at least one of the plurality of barter orders processing. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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27. A system for bartering publicly traded securities, comprising:
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a processor; a display connected to the processor; and a memory containing instructions for controlling the operation of the processor to perform the steps of; displaying, on the display, a plurality of barter orders to a user, each of said plurality of 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 of said plurality of barter orders a value indicator showing a gain or loss on the barter transaction based on a value ratio determined using a market value of the first security and a market value of the second security; and receiving from said user a selection of at least one of the plurality of the barter orders for processing.
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28. A system for bartering publicly traded securities on a computerized system, comprising:
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means for displaying a plurality of barter orders to a user, each of said plurality of 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; means for communicating in association with each of said plurality of barter orders a value indicator showing a gain or loss on the barter transaction based on a value ratio determined using a market value of the first security and a market value of the second security; means for receiving from said user a selection of at least one of the plurality of barter orders for processing; and means for transmitting the barter order selection for processing.
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Specification