Patent ID: 7822672
Filing Date: 2010-10-26
Classification: G06Q

Abstract:
1. A method for electronic trading of interests over at least one network by a system including at least one computer, the method comprising: the at least one computer receiving over the at least one network an order for an interest comprising terms for a trade of a total desired quantity of the interest, the terms comprising an identification of the interest, an initial price, an initial quantity, and a reserve quantity, the total desired quantity being equal to a sum of the initial quantity and the reserve quantity; based on the received order, the at least one computer providing for disclosure to potential counterparties over the at least one network terms for a first proposed trade of the interest, the terms for the first proposed trade comprising an identification of the interest, the initial price, and the initial quantity; the at least one computer, after acceptance of the first proposed trade for all or part of the initial quantity, providing for disclosure to potential counterparties over the at least one network terms of a second proposed trade of the interest, the terms for the second proposed trade comprising an identification of the interest, a second price, and a second quantity, the second price being equal to the initial price changed by a reserve price change associated with the order, and the second quantity comprising at least a portion of the reserve quantity; and prior to the acceptance of the first proposed trade, the at least one computer not providing for disclosure to potential counterparties over the at least one network of any portion of the reserve quantity.