Patent ID: 8180698
Filing Date: 2012-05-15
Classification: G06Q

Abstract:
1. A computer-implemented system for commodity exchange, comprising: i) a commodity exchange interface configured to display data substantially simultaneously to at least a first customer and a second customer, wherein each of the first and second customers is an end-to-end market player; ii) the commodity exchange interface including at least a first real-time, dynamic trading window associated with the first customer and a second real-time, dynamic trading window associated with the second customer, wherein each of the first and second real-time, dynamic trading windows is configured to display for a specific physical commodity at least the following: iii) the commodity exchange interface including a system to allow for direct negotiations prior to contract formation between the first and second customers for at least the negotiable quantity, negotiable shipment period and negotiable quality; and iv) a set of program instructions configured to process at least one commodity trade made directly between the first and second customers, the commodity trade being updated in at least the first real-time, dynamic trading window associated with the first customer and the second real-time, dynamic trading window associated with the second customer; wherein the commodity displayed in each of the first and second trading windows is selected from the group consisting of: (a) wheat; (b) corn; (c) soybeans; (d) soybean meal; (e) coffee “C”; (f) sugar no. 11 (world); (g) world white sugar; (h) sugar no. 14 (domestic); (i) cocoa; (j) cotton (no. 2); (k) rough rice; (l) feeder cattle; (m) frozen pork bellies; and (n) lean hog; wherein the standardized contract size for wheat is 5,000 bushels and the standardized delivery time period for wheat is the months of July, September December, March, May, wherein a Last Trading Day is the business day prior to the 15th calendar day of the contract month and a Last Delivery Day is the seventh business day following the Last Trading Day of the delivery month; wherein the standardized contract size for corn is 5,000 bushels and the standardized delivery time period for corn is the months of December, March, May, July, September, wherein a Last Trading Day is the business day prior to the 15th calendar day of the contract month and a Last Delivery Day is the second business day following the Last Trading Day of the delivery month; wherein the standardized contract size for soybeans is 5,000 bushels and the standardized delivery time period for soybeans is the months of September, November, January, March, May, July, August, wherein a Last Trading Day is the business day prior to the 15th calendar day of the contract month and a Last Delivery Day is the second business day following the Last Trading Day of the delivery month; wherein the standardized contract size for soybean meal is 100 tons and the standardized delivery time period for soybean meal is the months of January, March, May, July, August, September, October, December, wherein a Last Trading Day is the business day prior to the 15th calendar day of the contract month and a Last Delivery Day is the second business day following the Last Trading Day of the delivery month; wherein the standardized contract size for coffee “C” is 37,500 pounds and the standardized delivery time period for coffee “C” is the months of March, May, July, September, December, wherein delivery of Coffee “C” may be made on any business day between the first (1st) and last days of the delivery month; wherein the standardized contract size for sugar no. 11 (world) is 50 long tons and the standardized delivery time period for sugar no. 11 (world) is the months of January, March, May, July, October, wherein a Receiver shall have the sugar vessel ready at load port on any day from the first (1st) calendar day of the delivery month to and including the fifteenth (15th) calendar day of the second (2nd) succeeding calendar month; wherein the standardized contract size for world white sugar is 50 metric tons and the standardized delivery time period for world white sugar is the months of March, May, August, October, December, wherein delivery period means the period commencing on and including the first day of the delivery month, up to and including the last day of the succeeding month; wherein the standardized contract size for sugar no. 14 (domestic) is 50 long tons and the standardized delivery time period for sugar no. 14 (domestic) is the months of January, March, May, July, September, November, wherein delivery under this contract shall be considered timely delivery if the vessel carrying the sugar reports ready to discharge at its first (1st) sugar delivery berth not later than 8:00 A.M. on the last business day of the delivery month; wherein the standardized contract size for cocoa is 10 metric tons and the standardized delivery time period for cocoa is the months of December, March, May, July, September, wherein delivery of cocoa may be made on any business day between the first (1st) and last days of the delivery month; wherein the standardized contract size for cotton (no. 2) is 50,000 pounds net weight and the standardized delivery time period for active trading months: March, May, July, October, December, wherein the term First Delivery Day shall mean the first (1st) business day of the expiring month, and the term Last Delivery Day shall mean the seventh (7th) last business day of the expiring month; wherein the standardized contract size for rough rice is 2,000 hundredweight and the standardized delivery time period for rough rice is the months of September, November, January, March, May, July, wherein the Last Trading Day is the business day prior to the 15 wherein the standardized contract size for feeder cattle is 50,000 pounds and the standardized delivery time period for feeder cattle is the months of January, March, April, May, August, September, October, November; wherein the standardized contract size for frozen pork bellies is 40,000 pounds and the standardized delivery time period for frozen pork bellies is the months of February, March, May, July, August; and wherein the standardized contract size for lean hog is 40,000 pounds and the standardized delivery time period for live hog is the months of February, April, June, July, August, October, December.