Patent ID: 7991647
Filing Date: 2011-08-02
Classification: G06Q

Abstract:
1. A method comprising: receiving by a server as part of an auction a plurality of orders for an item from a plurality of traders, prioritizing by the server the plurality of orders from the plurality of traders based on predetermined criteria after the auction close time; matching by the server the plurality of orders from the plurality of traders based at least in part on the prioritization of the plurality of orders, canceling by the server the portion of the plurality of orders that are unmatched; and determining by the server the VWAP price based at least in part on (i) a plurality of trade prices and trade sizes for the item, and (ii) the sizes and the prices at which the plurality of orders are matched, wherein the portion of the plurality of orders that are matched are filled based at least in part on the determined VWAP price.