System and method for pricing and allocation of commodities or securities
Number of patents in Portfolio can not be more than 2000
United States of America Patent
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Jan 5, 2010
Grant Date -
Dec 11, 2008
app pub date -
Aug 18, 2008
filing date -
Mar 8, 2000
priority date (Note) -
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status (Latency Note)
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Abstract
An auction server node is described for a computer network having user nodes for conducting an auction run by an auction adviser for awarding securities from an issuer to bidders of the auction. There is real-time monitoring of the auction as it occurs, a bid mechanism for receiving competitive bids from the bidders at the user nodes, including a quantity of securities to be purchased, an initial price revealed to the other bidders, and a firm price not revealed to the other bidders and within a predetermined range of the initial price. A single market clearing price is determined that allocates to the bidders all of the securities in the auction. An incremental adjustment of the market clearing price may be made by at least one of the auction advisor and the issuer, and an allocation made of the securities to the bidders at the adjusted clearing price.
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