System and method for pricing and allocation of commodities or securities
US7644034B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Aug 18, 2008 |
| Grant date | Jan 5, 2010 |
| Priority date | — |
| Expiry date | Aug 18, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q50/188
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An auction server node is described for a computer network having user nodes for conducting an auction run by an auction adviser for awarding securities from an issuer to bidders of the auction. There is real-time monitoring of the auction as it occurs, a bid mechanism for receiving competitive bids from the bidders at the user nodes, including a quantity of securities to be purchased, an initial price revealed to the other bidders, and a firm price not revealed to the other bidders and within a predetermined range of the initial price. A single market clearing price is determined that allocates to the bidders all of the securities in the auction. An incremental adjustment of the market clearing price may be made by at least one of the auction advisor and the issuer, and an allocation made of the securities to the bidders at the adjusted clearing price.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.