Patent ID: 8190489
Filing Date: 2012-05-29
Classification: G06Q

Abstract:
1. A computer-implemented method of conducting a combinatorial exchange, wherein combinatorial bids allow exchange participants to bid on multiple items with a single bid, the method comprising: (a) storing instructions in a computer storage, wherein said instructions, when executed by a processor, cause the processor to determine an allocation of bids in a combinatorial exchange; (b) storing in the computer storage a set of rules for processing of bids received in connection with the exchange, wherein said set of rules is distinct of the instructions of step (a); (c) storing in the computer storage from each of a plurality of exchange participants at least one bid of (1) a first bid type comprised of a quantity for each of one or more items and a single price for all the quantities of all of the items or (2) a second bid type comprised of a first item, a quantity or a range of quantities for said first item and a unit price for said first item; (d) storing in the computer storage a desired exchange objective; (e) determining via the processor operating under the control of the instructions of step (a) subject to a subset of the set of rules of step (b) and subject to the desired exchange objective if an allocation of the bids exists that is optimal for the type of exchange being conducted, wherein: if said allocation exists, it includes a subset of the bids, if the subset of the bids includes one or more first bid type, each first bid type includes all of the items of the bid and at least part of the quantity of each item; if the subset of the bids includes one or more second bid type, each second bid type includes the quantity or a quantity within the range of quantities for the first item; and (f) terminating the combinatorial exchange when the optimal allocation is determined to exist in step (e), otherwise repeat step (e) utilizing a different subset of the set of rules of step (b) for each iteration of step (e) until the optimal allocation is determined to exist, wherein the set of rules of step (b) includes at least one of the following: (1) a first rule that has associated therewith at least one bid and at least one trigger value—first discount value pair or (2) a second rule that has associated therewith a first pair of trigger bid groups, a first logical operator connecting the pair of trigger bid groups and a second discount value, wherein; when the processor determines that the bid associated with the first rule is allocated and said bid includes a value that equals or exceeds the trigger value, the processor applies the first discount value to the price of each bid associated with the first rule; and when the processor determines that a total associated with allocated bid(s) of each trigger bid group is greater than or equal to a predetermined value for said bid group, the processor associates the truth value “true” with the trigger bid group, otherwise the processor associates the truth value “false” with the trigger bid group, wherein when the processor determines a logical combination of the truth values associated with the first pair of trigger bid groups subject to the first logical operator is determined to have truth value of “true”, the processor applies the second discount value to the price of each bid associated with the second rule.