Patent ID: 8165921
Filing Date: 2012-04-24
Classification: G06Q

Abstract:
1. A computer-implemented method of conducting a live combinatorial exchange comprising: (a) a processor receiving from each of a plurality of bidders at least one bid comprised of a plurality of items, an initial quantity of each item, and a price for all of the items and their quantities; (b) the processor determining an allocation for a type of exchange being conducted, wherein said allocation includes a plurality of bids with each bid of said allocation including all of the items of the bid and at least part of the initial quantity of each item; (c) based on the allocation determined in step (b), the processor causing at least a portion of two or more bids of said allocation to be displayed to each bidder of a first subset of the bidders that has at least one bid that is not included in said allocation; (d) the processor receiving from each bidder of a subset of the first subset of bidders at least one of the following: a new bid or an amendment to an existing bid of the bidder; and (e) the processor repeating steps (b)-(d) until a predetermined termination condition for the exchange is satisfied.