Patent ID: 7593884
Filing Date: 2009-09-22
Classification: G06Q

Abstract:
1. A computerized method for buying, the method for selecting a bid price comprising: determining, by a computer, a currency associated with each individual bid price included in a set of submitted bid prices for an asset electronically traded in a multicurrency environment; converting, by the computer, the individual bid prices in the set of submitted bid prices into different bid price currencies using an algorithm; receiving, by the computer, an indication of a currency selected by a seller of the asset, the currency selected by the seller of the asset having respective currency exchange fees associated to each of the different bid price currencies; ranking, by the computer, the individual bid prices in the set of submitted bid prices in order of a pecuniary value from a perspective of the currency selected by the seller, wherein the bid prices are ranked using a sorting algorithm; displaying/outputting, by the computer, the ranked individual bid prices in the set of submitted bid prices in order of the pecuniary value from the perspective of the currency selected by the seller; determining, by the computer, an individual bid price that is a best bid price representing a maximum pecuniary value from the perspective of the currency selected by the seller of the asset; selecting, by the computer, the individual bid price, included in the set of submitted bid prices, which represents the maximum pecuniary value from the perspective of the currency selected by the seller of the asset; and determining, by the computer, a threshold delta for currency exchange fees that excludes from active consideration the currency selected by the seller if the currency exchange fees for the currency selected by the seller exceeds the threshold delta, wherein the threshold delta represents a maximum tolerance for currency exchange fees.