Patent ID: 6963856
Filing Date: 2005-11-08
Classification: G06Q

Abstract:
1. A method of electronic interactive buying and selling of items via a data processing system comprising a server and a plurality of workstations in communication with said server, said workstations used by Participants for entering commands having prices and volumes, said server receiving said commands, said method comprising: receiving a first bid command having a first price and a first volume for an item; receiving a second bid command having a second price and a second volume for said item; receiving a sell command having a third price and a third volume for said item, said third volume larger than the sum of said first and second volumes, said third price lower than said first price and said second price; executing a transaction at said first price for said first volume in response to receiving said sell command; executing a transaction at said second price for said second volume in response to receiving said sell command; setting a transaction price between said third price and the lower of said first and second prices at which a transaction for the difference between said third volume and the sum of said first and second volumes can be completed; and providing a limited time period during which only the Participant that entered the higher of said first and second prices can execute a transaction at said set transaction price.