Patent ID: 7418423
Filing Date: 2008-08-26
Classification: G06Q

Abstract:
1. A method for executing a commodities transaction on a net market system, said method comprising: (a) receiving on the net market system bid information for a plurality of buyers of a commodity, the bid information including for each buyer in the plurality of buyers a buyer-specific basis for the commodity; (b) storing the bid information on the net market system; (c) repetitively receiving an updated commodity exchange price for the commodity and calculating for each buyer in the plurality of buyers a buyer-specific flat price based on the buyer-specific basis for said each buyer and said updated commodity exchange price; (d) receiving an offer from a seller to sell an offered quantity of the commodity to at least one buyer in the plurality of buyers at the buyer-specific flat price for said at least one buyer; (e) responsive to receiving the offer, attempting to secure a futures contract for the commodity on behalf of said at least one buyer based on the offer; and (f) if the attempt to secure the futures contract succeeds, generating a contract between said at least one buyer and the seller based on the offer; (g) wherein steps (c) through (f) are carried out automatically by the net market system without intervention from said at least one buyer.