Methods and systems for supporting asset exchange
First Claim
1. A system for supporting asset exchanges between parties of an auction including sellers and bidders, the system comprising:
- a processor and memory implementing;
a transformation module configured to transform representations of bidders'"'"' auction bids into representations of bidders'"'"' bidding assets and representations of bidders'"'"' bid-on auction assets;
a translation module configured to (i) translate representations of sellers'"'"' auction assets into vertices of a directed graph and representations of sellers'"'"' auction desires into edges of the directed graph and (ii) translate the representations of bidders'"'"' bidding assets into vertices of the directed graph and the representations of bidders'"'"' bid-on auction assets into edges of the directed graph;
a cycle determination module configured to determine cycles in the directed graph, a cycle being a path starting at a given vertex and ending at the given vertex, the path including multiple edges and at least one intermediate vertex; and
an offer module configured to transform the cycles into offers among the parties and to perform an action based on the offers.
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Abstract
In typical two-way trading systems, bidders cannot trade directly with other bidders, and sellers cannot trade directly with other sellers, resulting in possible missed trading opportunities. Methods, systems, devices, and networks for enabling two-way trading systems to perform multi-party exchanges are disclosed. Example embodiments allow multiple bidders (buyers), multiple sellers, or a seller and bidder of separate marketplaces to trade among themselves. Embodiments may discover, for bidders and sellers, opportunities to trade with other sellers or bidders, or both, without a time-consuming and limited process of searching and discovering relevant opportunities. Bidders and sellers may not find such opportunities on their own in typical two-way trading systems. The embodiments may be implemented as stand-alone systems or as add-ons that may be used to augment or enhance existing two-way trading systems.
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Citations
34 Claims
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1. A system for supporting asset exchanges between parties of an auction including sellers and bidders, the system comprising:
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a processor and memory implementing; a transformation module configured to transform representations of bidders'"'"' auction bids into representations of bidders'"'"' bidding assets and representations of bidders'"'"' bid-on auction assets; a translation module configured to (i) translate representations of sellers'"'"' auction assets into vertices of a directed graph and representations of sellers'"'"' auction desires into edges of the directed graph and (ii) translate the representations of bidders'"'"' bidding assets into vertices of the directed graph and the representations of bidders'"'"' bid-on auction assets into edges of the directed graph; a cycle determination module configured to determine cycles in the directed graph, a cycle being a path starting at a given vertex and ending at the given vertex, the path including multiple edges and at least one intermediate vertex; and an offer module configured to transform the cycles into offers among the parties and to perform an action based on the offers. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A method of supporting asset exchanges between parties of an auction including sellers and bidders, the method comprising:
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translating representations of sellers'"'"' auction assets into vertices of a directed graph and representations of sellers'"'"' auction desires into edges of the directed graph; transforming representations of bidders'"'"' auction bids into representations of bidders'"'"' bidding assets and representations of bidders'"'"' bid-on auction assets; translating the representations of bidders'"'"' bidding assets into vertices of the directed graph and the representations of bidders'"'"' bid-on auction assets into edges of the directed graph; determining cycles in the directed graph, a cycle being a path starting at a given vertex and ending at the given vertex, the path including multiple edges and at least one intermediate vertex; transforming the cycles into offers between the parties; and performing an action based on the offers, wherein at least one of the translating, transforming and determining is performed by at least one processor and the performing an action is optionally performed by the at least one processor. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34)
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Specification