System and method for the interactive trading of derivatives

US8239313B2 · kind B2 · utility

Assignee

• American Express Travel Related Services Company, Inc. · US

Inventors

• Jack Jenkins · Hawthorne, US
• John Berkley · Evanston, US
• David M. Lee · Portland, US
• Cheryl Cramer · New York, US
• Ethan Laub · Williamsville, US
• Robert Pacheco · Great Neck, US

Key dates

• Filing date: Aug 2, 2002
• Grant date: Aug 7, 2012
• Expiry date: Dec 23, 2026

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/04
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method and system of trading derivatives of various items includes an electronic marketplace configured to accept requests to purchase derivatives and requests to sell derivatives. The marketplace is configured to match requests to purchase with requests to sell when certain criteria are similar to within predetermined limits. Available derivatives include futures contracts, put options, and call options. The derivatives allow one to purchase rights in an item prior to the actual delivery of the item. In addition, the derivatives may be traded to other parties. The use of such derivatives also enables entities to negotiate the prices for various goods and services that were previously not readily negotiable in the past.