Patent ID: 8244623
Filing Date: 2012-08-14
Classification: G06Q,G09B

Abstract:
1. A method comprising: assigning by at least one computing device a simulated amount of a financial instrument to at least a first trader in a closed exchange, the closed exchange comprising the at least one computing device and operating over a period of time simulating a real-time market for the financial instrument; assigning by the at least one computing device an amount of simulated funds to at least a second trader in the closed exchange; receiving by the at least one computing device at least one order for the financial instrument from one of the first trader and the second trader, wherein the order comprises at least one of (i) a bid to purchase the financial instrument on a simulated market and (ii) an offer to sell the financial instrument on a simulated market, wherein the first and the second traders are in communication with each other over a computer network; causing by the at least one computing device an interface screen to be displayed at one or more workstations associated with a trader, the interface screen comprising at least one item of real-time information associated with the financial instrument from the simulated market and at least one item of real-time information associated with the financial instrument from an actual market, the one or more workstations in electronic communication with the at least one computing device; receiving by the at least one computing device at least one counter order for the financial instrument from the other one of the first trader and the second trader; executing by the at least one computing device at least one trade between the first trader and the second trader for the financial instrument at a price specified by at least one of the traders and for an amount of simulated funds determined based on the price; and creating by the at least one computing device a simulated financial product based at least in part on at least one difference between the simulated market and the actual market.