Fuel offering and purchase management system
First Claim
1. A processor-implemented method to provide commodity offerings, comprising:
- setting at least one commodity offering term for a commodity offering;
setting at least one commodity offering exercise restriction for a commodity offering;
determining by a processor at least one commodity offering pricing value based on the at least one commodity offering term and at least one commodity offering pricing model for the commodity offering;
providing the commodity offering, including two or more associations, based on the commodity offering pricing value, between strike prices and premiums, for selection by a customer;
receiving a customer selection of at least one of the two or more associations; and
providing payment for some portion of a commodity purchase for an exercised commodity offering based on the customer selection subject to the at least one commodity offering exercise restriction, wherein the strike price of the commodity offering is less than a geographically averaged commodity price.
2 Assignments
0 Petitions
Accused Products
Abstract
The present disclosure is directed towards apparatuses, systems and methods to facilitate the pricing, sales and delivery of a commodity fuel to a Customer. In one embodiment, the disclosure teaches a Fuel Offer Generator that facilitates the purchase and management of fuel offerings. The Fuel Offer Generator allows Customers interested in securing fuel to obtain an offer for fuel at lock-in prices for various tenors. Fuel Customers can buy these fuel offers such that they may later exercise the fuel offers so their fuel costs are locked-in at desired levels (e.g., they may be set to strike prices). The Fuel Offer Generator also can establish a Premium Price that will be part of the fuel offer. The Fuel Offer Generator may generate hedges to counteract fuel related risks stemming from fuel offer purchases. Ultimately, a customer that purchases a fuel offering can exercise their fuel offering order at a specified price and redeem any difference between the market price for their purchased fuel and the price specified in their fuel offering order. While the Fuel Offer Generator may place various constraints on redemption, it will determine which metrics are relevant to pricing the fuel offering and then employ those determined metrics to establish the pricing of fuel offerings.
19 Citations
60 Claims
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1. A processor-implemented method to provide commodity offerings, comprising:
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setting at least one commodity offering term for a commodity offering; setting at least one commodity offering exercise restriction for a commodity offering; determining by a processor at least one commodity offering pricing value based on the at least one commodity offering term and at least one commodity offering pricing model for the commodity offering; providing the commodity offering, including two or more associations, based on the commodity offering pricing value, between strike prices and premiums, for selection by a customer; receiving a customer selection of at least one of the two or more associations; and providing payment for some portion of a commodity purchase for an exercised commodity offering based on the customer selection subject to the at least one commodity offering exercise restriction, wherein the strike price of the commodity offering is less than a geographically averaged commodity price. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 60)
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57. A processor-implemented system to provide commodity offerings, comprising:
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a memory; a processor disposed in communication with said memory, and configured to execute a plurality of processing instructions stored in the memory to; set at least one commodity offering term for a commodity offering; set at least one commodity offering exercise restriction for a commodity offering; determine at least one commodity offering pricing value based on the at least one commodity offering term and at least one commodity offering pricing model for the commodity offering; provide the commodity offering, including two or more associations, based on the commodity offering pricing value, between strike prices and premiums, for selection by a customer; receive a customer selection of at least one of the two or more associations; and provide payment for some portion of a commodity purchase for an exercised commodity offering based on the customer selection subject to the at least one commodity offering exercise restriction, wherein the strike price of the commodity offering is less than a geographically averaged commodity price.
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58. A non-transitory processor-readable medium having processor-executable program instructions residing thereon, wherein the processor-executable program instructions are executable by the processor to:
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set at least one commodity offering term for a commodity offering; set at least one commodity offering exercise restriction for a commodity offering; determine at least one commodity offering pricing value based on the at least one commodity offering term and at least one commodity offering pricing model for the commodity offering; provide the commodity offering, including two or more associations based on the commodity offering pricing value, between strike prices and premiums, for selection by a customer; receive a customer selection of at least one of the two or more associations; and provide payment for some portion of a commodity purchase for an exercised commodity offering based on the customer selection subject to the at least one commodity offering exercise restriction, wherein the strike price of the commodity offering is less than a geographically averaged commodity price.
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59. An apparatus to provide commodity offerings, comprising:
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a memory; a processor disposed in communication with said memory, and configured to execute a plurality of processing instructions stored in the memory; set at least one commodity offering term for a commodity offering; set at least one commodity offering exercise restriction for a commodity offering; determine at least one commodity offering pricing value based on the at least one commodity offering term and at least one commodity offering pricing model for the commodity offering; provide the commodity offering, including two or more associations, based on the commodity offering pricing value, between strike prices and premiums, for selection by a customer; receive a customer selection of at least one of the two or more associations; and provide payment for some portion of a commodity purchase for an exercised commodity offering based on the customer selection subject to the at least one commodity offering exercise restriction, wherein the strike price of the commodity offering is less than a geographically averaged commodity price.
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Specification