Patent ID: 7136833
Filing Date: 2006-11-14
Classification: G06Q

Abstract:
1. In a communications network having a server system capable of communicating with a plurality of bidder systems of a plurality of bidders, a method of conducting an auction for shares of a pooled investment product comprising: receiving at the server system investment product information after the pooled investment product has achieved a hurdle rate, the investment product information comprising: opening an auction for the shares of the investment product; receiving at the server system bids from the bidders relating to the investment product, each bid comprising a bid price per share and a number of shares bid, wherein the bid price is greater than or equal to the minimum bid price per share and less than or equal to the maximum bid price per share; successively determining a successive winning bidder at the server system, wherein each winning bidder receives a guaranteed return equal to the difference between the redemption price per share and the bid price per share multiplied by the number of shares bid by the winning bidder; and successively reducing the total number of available shares by the number of shares bid by each winning bidder.