Automated trading negotiation protocols
First Claim
1. A computer-implemented method of facilitating trading, comprising:
- automatically, by a computer, checking the compatibility of fields of an active negotiation request and a passive negotiation request, including checking the compatibility of disclosure signatures associated with the active and passive negotiation requests, each of said disclosure signatures indicating a disclosure level of a plurality of disclosure levels that specifies an amount of information that can be provided to a contra-party, andautomatically, by a computer, reporting information to the owners of the active and passive negotiation requests based on at least one of the disclosure signatures.
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Accused Products
Abstract
A market process facilitates trade negotiation between trading processes using three methodologies. In one methodology, when a fruitful negotiation opportunity is detected, the market process provides an alphanumeric message to one of the trading processes so that the owners of the trading processes can negotiate privately, such as by telephone. In another methodology, the market process provides the name of a broker to at least one of the trading processes; the broker may be a human or another software process. In a third methodology, the market process forwards messages between the trading processes. Each trading process can specify a disclosure level associated with orders left with the market process and with market inquiries. Each trading process can specify desirable or undesirable contra-parties, and the trading history of a pair of trading processes can be used to determine their desirability or undesirability as trading partners.
125 Citations
40 Claims
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1. A computer-implemented method of facilitating trading, comprising:
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automatically, by a computer, checking the compatibility of fields of an active negotiation request and a passive negotiation request, including checking the compatibility of disclosure signatures associated with the active and passive negotiation requests, each of said disclosure signatures indicating a disclosure level of a plurality of disclosure levels that specifies an amount of information that can be provided to a contra-party, and automatically, by a computer, reporting information to the owners of the active and passive negotiation requests based on at least one of the disclosure signatures. - View Dependent Claims (2, 3, 4, 13, 14, 15, 16, 17, 18, 19, 20)
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5. A computer-implemented method of facilitating trading, comprising:
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automatically, by a computer, storing an order in association with a disclosure signature, and automatically, by a computer, responding to a price inquiry in accordance with the disclosure signature of the order, wherein the disclosure signature indicates a disclosure level that specifies an amount of information that can be provided to a contra-party. - View Dependent Claims (6, 7, 8, 9, 10, 11, 12, 21, 22, 23, 24, 25, 26)
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27. A non-transitory computer-accessible medium having executable instructions stored thereon for facilitating trading, wherein the instructions, in response to being executed, cause a computer to:
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automatically check the compatibility of fields of an active negotiation request and a passive negotiation request, automatically check the compatibility of disclosure signatures associated with the active and passive negotiation requests, each of said disclosure signatures indicating a disclosure level of a plurality of disclosure levels that specifies an amount of information that can be provided to a contra-party, and automatically report information to the owners of the active and passive negotiation requests based on at least one of the disclosure signatures. - View Dependent Claims (28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38)
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39. A computer apparatus configured to facilitate trading, comprising:
a computer processor in communication with a memory, wherein the memory has stored therein executable instructions that, in response to being executed, cause the processor to check the compatibility of fields of an active negotiation request and a passive negotiation request, wherein checking the compatibility of fields includes checking the compatibility of disclosure signatures associated with the active and passive negotiation requests, each of said disclosure signatures indicating a disclosure level of a plurality of disclosure levels that specifies an amount of information that can be provided to a contra-party, and to report information to the owners of the active and passive negotiation requests based on at least one of the disclosure signatures.
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40. A computer apparatus configured to facilitate trading, comprising:
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means for automatically checking the compatibility of fields of an active negotiation request and a passive negotiation request, including checking the compatibility of disclosure signatures associated with the active and passive negotiation requests, each of said disclosure signatures indicating a disclosure level of a plurality of disclosure levels that specifies an amount of information that can be provided to a contra-party, and means for automatically reporting information to the owners of the active and passive negotiation requests based on at least one of the disclosure signatures.
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Specification