Patent ID: 8195524
Filing Date: 2012-06-05
Classification: G06Q

Abstract:
1. A computer-implemented method of conducting a combinatorial exchange, wherein combinatorial bids allow exchange participants to bid on multiple items with a single bid, the method comprising: (a) storing instructions in a computer storage, wherein said instructions, when executed by a processor, cause the processor to determine an allocation of bids in a combinatorial exchange; (b) storing in the computer storage a set of rules for processing of bids received in connection with the exchange, wherein said set of rules is distinct of the instructions of step (a); (c) storing in the computer storage from each of a plurality of exchange participants at least one bid of (1) a first bid type comprised of a quantity for each of one or more items and a single price for all the quantities of all of the items or (2) a second bid type comprised of a first item, a quantity or a range of quantities for said first item, and a unit price for said first item; (d) storing in the computer storage a desired exchange objective; (e) determining via the processor operating under the control of the instructions of step (a) subject to a subset of the set of rules of step (b) and subject to the desired exchange objective if an allocation of the bids exists that is optimal for the type of exchange being conducted, wherein: (f) terminating the combinatorial exchange when the optimal allocation is determined to exist in step (e), otherwise repeat step (e) utilizing a different subset of the set of rules of step (b) for each iteration of step (e) until the optimal allocation is determined to exist, wherein at least one of the bids stored in step (c) has associated therewith: