Patent ID: 7584133
Filing Date: 2009-09-01
Classification: G06Q

Abstract:
1. A computerized method of price setting throughout a substantially continuous ongoing natural process starting with a reported precursor tropical storm at sea and culminating in a future first hurricane landstrike, for the purchase of positions predicting the eventual outcome of the future first hurricane landstrike, comprising: providing a database containing a) historical precursor data collected from at least one historical precursor tropical storm at sea leading to an historical first hurricane landstrike, and b) a first purchase price to purchase a position predicting an eventual outcome of the future first hurricane landstrike, that is based at least in part upon a calculated probability predicting an outcome of the historical precursor data as the future first hurricane landstrike; electronically making the first purchase price available to prospective purchasers at a communication port, prior to an announcement of the reported precursor tropical storm at sea; electronically receiving notification of the reported precursor tropical storm at sea from an external and verifiable notification source; responsive to receiving notification of the reported precursor tropical storm at sea, and throughout an ongoing duration of the reported precursor tropical storm at sea, making available to prospective purchasers via the communication port, a series of secondary purchase prices to purchase positions predicting the eventual outcome of the future first hurricane landstrike, with an initial secondary purchase price in the series based at least in part on the first purchase price, and with subsequent secondary purchase prices in the series based on an ongoing market activity to purchase positions in the series, along with at least temporarily storing the initial secondary purchase price and the subsequent secondary purchase prices; monitoring, and making available to prospective purchasers via the communication port, throughout the duration of the reported precursor tropical storm at sea, the series of secondary purchase prices previously made available to prospective purchasers, along with ongoing electronically calculated probabilities of occurrence of the future natural event based on data collected from the reported precursor tropical storm at sea, to serve as a basis for future prices in the series of secondary purchase prices.