Patent ID: 8543490

Claim:
A computer-implemented system for an exchange, comprising: i) an exchange interface configured to display data substantially simultaneously to at least a first customer and a second customer; ii) the 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 are configured to display, for a specific commodity or a specific financial instrument, at least the following: a) a negotiable quantity of the specific commodity or the specific financial instrument, wherein the negotiable quantity is an amount of the specific commodity or the specific financial instrument that is tradeable on a domestic, regional or international market and wherein the negotiable quantity is negotiable in amounts that are not limited to a standardized contract size; b) a negotiable delivery period for the specific commodity or the specific financial instrument, wherein the negotiable delivery period specifies at least the time period at which the specific commodity or the specific financial instrument is available for pick up or delivery and wherein the negotiable delivery period is negotiable in amounts that are not limited to a standardized delivery time period; c) a negotiable quality for the specific commodity or the specific financial instrument; iii) the 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 delivery period and negotiable quality; and iv) a set of program instructions configured to process at least one trade made directly between the first and second customers through the exchange, the at least one 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.