Patent ID: 7917425
Filing Date: 2011-03-29
Classification: G06Q

Abstract:
1. A method of effecting a targeted auction on a computing system, comprising the steps of: (a) electronically receiving, into said computing system, data including confidential information regarding market participants; (b) electronically storing, in said computing system, said received data regarding market participants; (c) electronically receiving, into said computing system, information including a first order from a first market participant computer; (d) electronically storing, in said computing system, said information received from said first market participant computer; (e) electronically transmitting, from said computing system to selected market participants, data based on said information received from said first market participant computer; (f) electronically receiving, into said computing system, subsequent orders from said selected market participants in response to said transmitted data; (g) conducting, in said computing system, an electronic auction among orders including said orders received in response to said transmitted data; said step of conducting comprising displaying said first order as a passive order having a passive order price, but changing said passive order price to an aggressive price which is more aggressive than said passive order price, for randomly-scheduled match check events where neither party has control of time of execution; (h) crossing said first order, at either said passive order price or said aggressive price, against one or more corresponding contra orders, according to whether market participants having said corresponding contra orders select said passive order price or said aggressive price; and (i) electronically transmitting the stains of orders from the computing system to the respective market participants who initiated them.