Automated trading negotiation protocols
US7813991B1 · kind B1 · utility
Inventor
Key dates
| Filing date | Mar 8, 2001 |
| Grant date | Oct 12, 2010 |
| Priority date | — |
| Expiry date | May 12, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/10
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
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.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.