Fuel offering and purchase management system
First Claim
1. A computer processor-implemented method to provide commodity offerings, comprising:
- setting at least one commodity offering term for a commodity offering;
determining, by a computer 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 for selection by a customer, wherein the commodity offering includes two or more associations, each association including a strike price, a premium, and a offer quantity;
receiving, at the computer processor, indication of a purchase of the commodity offering by the customer, wherein the purchase includes a selection of one of the two or more associations and an indication of payment of the premium of the selected association;
receiving, at the computer processor, an indication of an exercise of the purchased commodity offering including an exercise price and an exercise quantity;
updating, by the computer processor, a remaining offer quantity associated with the purchased commodity offering based on the exercise quantity and the offer quantity of the selected association; and
providing payment to the customer for the exercised commodity offering based on the strike price of the selected association, the exercise price, and the exercise quantity.
2 Assignments
0 Petitions
Accused Products
Abstract
The present disclosure is directed to facilitating pricing, sales and delivery of a commodity. In one embodiment, a Fuel Offer Generator 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 may later exercise the fuel offers so their fuel costs are locked-in at desired levels The Fuel Offer Generator may generate hedges to counteract fuel related risks stemming from fuel offer purchases. 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. The Fuel Offer Generator determines which metrics are relevant to pricing the fuel offering and then employs those determined metrics to establish the pricing of fuel offerings.
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Citations
46 Claims
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1. A computer processor-implemented method to provide commodity offerings, comprising:
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setting at least one commodity offering term for a commodity offering; determining, by a computer 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 for selection by a customer, wherein the commodity offering includes two or more associations, each association including a strike price, a premium, and a offer quantity; receiving, at the computer processor, indication of a purchase of the commodity offering by the customer, wherein the purchase includes a selection of one of the two or more associations and an indication of payment of the premium of the selected association; receiving, at the computer processor, an indication of an exercise of the purchased commodity offering including an exercise price and an exercise quantity; updating, by the computer processor, a remaining offer quantity associated with the purchased commodity offering based on the exercise quantity and the offer quantity of the selected association; and providing payment to the customer for the exercised commodity offering based on the strike price of the selected association, the exercise price, and the exercise quantity. - 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)
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44. A system to provide commodity offerings, comprising:
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means for setting at least one commodity offering term for a commodity offering; means for determining 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; means for providing the commodity offering for selection by a customer, wherein the commodity offering includes two or more associations, each association including a strike price, a premium, and an offer quantity; means for receiving indication of a purchase of the commodity offering by the customer, wherein the purchase includes a selection of one of the two or more associations and an indication of payment of the premium of the selected association; means for receiving an indication of an exercise of the purchased commodity offering including an exercise price and an exercise quantity; means for updating a remaining offer quantity associated with the purchased commodity offering. based on the exercise quantity and the offer quantity of the selected association; and means for providing payment to the customer for the exercised commodity offering based on the strike price of the selected association, the exercise price, and the exercise quantity.
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45. A non-transitory medium readable by a computer processor to provide commodity offerings, comprising instructions that, when executed by the computer processor, direct the computer processor to:
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set at least one commodity offering term 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, wherein the commodity offering includes two or more associations, each association including a strike price, a premium, and an offer quantity; receive indication of a purchase of the commodity offering by the customer, wherein the purchase includes a selection of one of the two or more associations and an indication of payment of the premium of the selected association; receive an indication of an exercise of the purchased commodity offering including an exercise price and an exercise quantity; update a remaining offer quantity associated with the purchased commodity offering based on the exercise quantity and the offer quantity of the selected association; and provide payment to the customer for the exercised commodity offering based on the strike price of the selected association, the exercise price, and the exercise quantity.
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46. An apparatus to provide commodity offerings, comprising:
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a memory; a computer processor disposed in communication with said memory, and configured to execute a plurality of processing instructions stored in the memory, wherein the instructions direct the computer processor to; obtain a search query from a searcher; set at least one commodity offering term for a commodity offering based on the search query; 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, wherein the commodity offering includes two or more associations, each association including a strike price, a premium, and an offer quantity for selection by a customer; receive indication of a purchase of the commodity offering by the customer, wherein the purchase includes a selection of one of the two or more associations and an indication of payment of the premium of the selected association; receive an indication of an exercise of the purchased commodity offering including an exercise price and an exercise quantity; update a remaining offer quantity associated with the purchased commodity offering. based on the exercise quantity and the offer quantity of the selected association; and provide payment to the customer for the exercised commodity offering based on the strike price of the selected association, the exercise price, and the exercise quantity.
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Specification