Patent ID: 7627510

Claim:
A method for implementing a double exchange by using a controller coupled to a network, the method comprising: accepting a first set of buy bids from buyers via a buyer interface, wherein the first set of buy bids are transferred to the controller over the network; receiving a first set of sell bids from sellers via a seller interface, wherein the first set of sell bids are transferred to the controller over the network; matching, by an optimization engine in the controller, one or more sell bids with one or more buy bids, yielding one or more matched buy bids and one or more matched sell bids in response thereto; determining, by the optimization engine in the controller, a uniform settlement price based on a highest ask price among one or more matched sell bids; scheduling payments so that matched buyers pay a sum of the settlement prices of items in a matched bid for a bundle of the items, and so that matched sellers receive a payment equal to the number of items sold multiplied by the settlement price for a particular item; and transferring an indication of the scheduled payments to one or more of the buyers or sellers, wherein the indication is transferred over the network.