System and method for automated commodities transactions including an automatic hedging function
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United States of America Patent
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Aug 26, 2008
Grant Date -
Nov 18, 2004
app pub date -
Jun 17, 2004
filing date -
Oct 18, 2000
priority date (Note) -
In Force
status (Latency Note)
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Abstract
An integrated virtual market is provided that facilitates communication between the producers of a given commodity and the parties wishing to purchase such commodities. This system provides real-time updated information about local pricing being offered by those purchasers. In addition, those producers can post offers that can automatically be accepted by purchasers and have contracts automatically generated. An important consideration from a purchaser's prospective is minimizing the risk associated with making such transactions. Due to this, futures contracts are often obtained. The virtual market system of the present inventions automatically requests and obtains futures contracts to hedge the contracts being generated.
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