Multi-currency marketplace
First Claim
Patent Images
1. A computerized method for buying, the method for selecting a bid price comprising:
- determining, by a computer, a currency associated with each individual bid price included in a set of submitted bid prices for an asset electronically traded in a multicurrency environment;
converting, by the computer, the individual bid prices in the set of submitted bid prices into different bid price currencies using an algorithm;
receiving, by the computer, an indication of a currency selected by a seller of the asset, the currency selected by the seller of the asset having respective currency exchange fees associated to each of the different bid price currencies;
ranking, by the computer, the individual bid prices in the set of submitted bid prices in order of a pecuniary value from a perspective of the currency selected by the seller, wherein the bid prices are ranked using a sorting algorithm;
displaying/outputting, by the computer, the ranked individual bid prices in the set of submitted bid prices in order of the pecuniary value from the perspective of the currency selected by the seller;
determining, by the computer, an individual bid price that is a best bid price representing a maximum pecuniary value from the perspective of the currency selected by the seller of the asset;
selecting, by the computer, the individual bid price, included in the set of submitted bid prices, which represents the maximum pecuniary value from the perspective of the currency selected by the seller of the asset; and
determining, by the computer, a threshold delta for currency exchange fees that excludes from active consideration the currency selected by the seller if the currency exchange fees for the currency selected by the seller exceeds the threshold delta, wherein the threshold delta represents a maximum tolerance for currency exchange fees.
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Abstract
A computerized method and system buying and selling in a marketplace denominated in multiple currencies. A best bid or best offer can be determined according to pecuniary advantage based upon a selected currency. An amount required to become a best bid or best offer within a set of defined currencies is also included. Some embodiments include a network of computers permitting access to a multi-currency marketplace. Prices in the multi-currency marketplace can be ranked according to a particular currency selected by a market participant.
29 Citations
17 Claims
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1. A computerized method for buying, the method for selecting a bid price comprising:
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determining, by a computer, a currency associated with each individual bid price included in a set of submitted bid prices for an asset electronically traded in a multicurrency environment; converting, by the computer, the individual bid prices in the set of submitted bid prices into different bid price currencies using an algorithm; receiving, by the computer, an indication of a currency selected by a seller of the asset, the currency selected by the seller of the asset having respective currency exchange fees associated to each of the different bid price currencies; ranking, by the computer, the individual bid prices in the set of submitted bid prices in order of a pecuniary value from a perspective of the currency selected by the seller, wherein the bid prices are ranked using a sorting algorithm; displaying/outputting, by the computer, the ranked individual bid prices in the set of submitted bid prices in order of the pecuniary value from the perspective of the currency selected by the seller; determining, by the computer, an individual bid price that is a best bid price representing a maximum pecuniary value from the perspective of the currency selected by the seller of the asset; selecting, by the computer, the individual bid price, included in the set of submitted bid prices, which represents the maximum pecuniary value from the perspective of the currency selected by the seller of the asset; and determining, by the computer, a threshold delta for currency exchange fees that excludes from active consideration the currency selected by the seller if the currency exchange fees for the currency selected by the seller exceeds the threshold delta, wherein the threshold delta represents a maximum tolerance for currency exchange fees. - View Dependent Claims (2, 3, 4)
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5. A computerized method for selling, the method for selecting an offer price comprising:
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determining, by a computer, a currency associated with each individual offer price included in a set of submitted offer prices for an asset electronically traded in a multicurrency environment; converting, by the computer, the individual offer prices in the set of submitted offer prices into different offer price currencies using an algorithm; receiving, by the computer, an indication of a currency selected by a bidder for the asset, the currency selected by the bidder of the asset having respective currency exchange fees associated to each of the offer price currencies; ranking, by the computer, the individual offer prices in the set of submitted offer prices in order of a pecuniary value from a perspective of the currency selected by the bidder for the asset, wherein the individual offer prices are ranked using a sorting algorithm; displaying/outputting, by the computer, the ranked individual offer prices in the set of submitted offer prices in order of the pecuniary value from the perspective of the currency selected by the bidder for the asset; determining, by the computer, an individual offer price that is a best offer price representing a maximum pecuniary value from the perspective of the currency selected by the bidder for the asset; selecting, by the computer, the individual offer price included in the set of submitted offer prices which represents a maximum pecuniary value from the perspective of the currency selected by the bidder for the asset; and determining, by the computer, a threshold delta for currency exchange fees that excludes from active consideration the currency selected by the bidder if the currency exchange fees for the currency selected by the bidder exceeds the threshold delta, wherein the threshold delta represents a maximum tolerance for currency exchange fees. - View Dependent Claims (6)
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7. A computerized system for buying, the computerized system for selecting an individual bid price, the computerized system comprising:
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memory; a processor coupled to the memory, wherein the processor is configured to; determine a currency associated with each individual bid price included in a set of submitted bid prices for an asset electronically traded in a multicurrency environment; calculate a quantity, in terms of the currency selected by the seller, for individual bids in the plurality of bids; convert the individual bid prices in the set of submitted bid prices into different bid price currencies using an algorithm; receive an indication of a currency selected by a seller of the asset, the currency selected by the seller of the asset having respective currency exchange fees associated to each of the different bid price currencies; rank the individual bid prices in the set of submitted bid prices in order of a pecuniary value from a perspective of the currency selected by the seller, wherein the individual bid prices are ranked using a sorting algorithm; display/output the ranked individual bid prices in the set of submitted bid prices in order of the pecuniary value from the perspective of the currency selected by the seller; determine an individual bid price that is a best bid price representing a maximum pecuniary value from the perspective of the currency selected by the seller of the asset; select the individual bid price, included in the set of submitted bid prices, which represents the maximum pecuniary value from the perspective of the currency selected by the seller of the asset; and determine a threshold delta for currency exchange fees that excludes from active consideration the currency selected by the seller if the currency exchange fees for the currency selected by the seller exceeds the threshold delta, wherein the threshold delta represents a maximum tolerance for currency exchange fees. - View Dependent Claims (8, 9, 10)
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11. A computerized system for selling, the computerized system for selecting an offer price, the computerized system comprising:
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memory; a processor coupled to the memory, wherein the processor is configured to; determine a currency associated with each individual bid price included in a set of submitted offer prices for an asset electronically traded in a multicurrency environment; calculate a quantity, in terms of the currency selected by the seller, for individual bids in the plurality of bids; convert the individual offer prices in the set of submitted offer prices into different offer price currencies using an algorithm; receive an indication of a currency selected by a bidder for the asset, the currency selected by the bidder of the asset having respective currency exchange fees associated to each of the offer price currencies; rank the individual offer prices in the set of submitted offer prices in order of a pecuniary value from a perspective of the currency selected by the bidder for the asset, wherein the individual offer prices are ranked using a sorting algorithm; display/output the ranked individual offer prices in the set of submitted offer prices in order of the pecuniary value from the perspective of the currency selected by the bidder for the asset; determine an individual offer price that is a best offer price representing a maximum pecuniary value from the perspective of the currency selected by the bidder for the asset; select the individual offer price included in the set of submitted offer prices which represents a maximum pecuniary value from the perspective of the currency selected by the bidder for the asset; and determine a threshold delta for currency exchange fees that excludes from active consideration the currency selected by the bidder if the currency exchange fees for the currency selected by the bidder exceeds the threshold delta, wherein the threshold delta represents a maximum tolerance for currency exchange fees. - View Dependent Claims (12, 13)
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14. Computer-readable media for buying, comprising computer-executable instructions that, when executed by a computing system, direct a computing system to:
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determine a currency associated with each individual bid price included in a set of submitted bid prices for an asset electronically traded in a multicurrency environment; convert the individual bid prices in the set of submitted bid prices into different bid price currencies using an algorithm; receive an indication of a currency selected by a seller of the asset, the currency selected by the seller of the asset having respective currency exchange fees associated to each of the different bid price currencies; rank the individual bid prices in the set of submitted bid prices in order of a pecuniary value from a perspective of the currency selected by the seller, wherein the individual bid prices are ranked using a sorting algorithm; display/output the ranked individual bid prices in the set of submitted bid prices in order of the pecuniary value from the perspective of the currency selected by the seller; determine an individual bid price that is a best bid price representing a maximum pecuniary value from the perspective of the currency selected by the seller of the asset; select the individual bid price included in the set of submitted bid prices which represents the maximum pecuniary value from the perspective of the currency selected by the seller of the asset; and determine a threshold delta for currency exchange fees that excludes from active consideration of the currency selected by the seller if the currency exchange fees for the currency selected by the seller exceeds the threshold delta, wherein the threshold delta represents a maximum tolerance for currency exchange fees. - View Dependent Claims (15)
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16. Computer-readable media for selling comprising computer-executable instructions that, when executed by a computing system, direct a computing system to:
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determine a currency associated with each individual offer price included in a set of submitted offer prices for an asset electronically traded in a multicurrency environment; convert the individual offer prices in the set of submitted offer prices into different offer price currencies using an algorithm; receive an indication of a currency selected by a bidder for the asset, the currency selected by the bidder of the asset having respective currency exchange fees associated to each of the offer price currencies; rank the individual offer prices in the set of submitted offer prices in order of a pecuniary value from a perspective of the currency selected by the bidder for the asset, wherein the individual offer prices are ranked using a sorting algorithm; display/output the ranked individual offer prices in the set of submitted offer prices in order of the pecuniary value from the perspective of the currency selected by the bidder for the asset; determine an individual offer price that is a best offer price representing a maximum pecuniary value from the perspective of the currency selected by the bidder for the asset; select the individual offer price included in the set of submitted offer prices which represents a maximum pecuniary value from the perspective of the currency selected by the bidder for the asset; and determine a threshold delta for currency exchange fees that excludes from active consideration the currency selected by the bidder if the currency exchange fees for the currency selected by the bidder exceeds the threshold delta, wherein the threshold delta represents a maximum tolerance for currency exchange fees. - View Dependent Claims (17)
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Specification