US Patent:
20020111896, Aug 15, 2002
Inventors:
Shai Ben-Levy - East Hills NY, US
Kenneth Gaertner - Hudson NY, US
George Geyer - New York NY, US
David Mullen - Stamford CT, US
Todd Sibilla - Warren NJ, US
International Classification:
G06F017/60
Abstract:
Methods, systems, and apparatus for improved trading of financial interests via a computer network are disclosed. Improvements include crossing or commingling of auction and non-auction transaction proposals; disclosure of high bids and of identify of high bidders and offerors during the auction process; presentation of reference benchmark prices and benchmark-derived price references; immediate rescission of multiple proposed transactions in case of emergency; time-limited passwords; assignment of user access level classes; keyword tagging or identification of offers or bids; the use of multiple data sets or trading channels to enable separation of accounting and to accommodate training and familiarization efforts; enabling the creation of data sets in outside programs and subsequent and optionally repeated uploading or importation of data to the auction system; and staging of transactions for supervisory review. The invention includes methods and processes as well as suitable computer programs and data processing systems.