Internet-based system for auctioning securities
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United States of America Patent
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N/A
Issued Date -
N/A
app pub date -
Jun 6, 2006
filing date -
Apr 30, 2001
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
Methods and apparatus for auctioning securities. The methods and apparatus receive one or more backstop bids for the securities from one or more backstop bidders and implement a real-time auction of securities over the Internet. The methods and apparatus determine a clearing price for the auction, the clearing price being determined such that all of the securities are distributed and allocate at least a portion of the securities to the one or more backstop bidders if the clearing price is less than the backstop bids.
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