Patent ID: 8396724

Claim:
A receiving, from a remote device, a settlement contract for exchange on a trading system, in which the settlement contract, in which the settlement contract comprises a futures contract for a of a death benefit of a life insurance policy computing, via a processor, a rating of the settlement contract, in which the processor and the remote device are in communication over a network; computing, via a processor based on the rating, an initial bid price for the settlement contract; storing, via the processor, the settlement contract in a database that comprises a plurality of settlement contracts; receiving, via a processor, a plurality of bids for a first settlement contract, in which each of the plurality of bids comprises a bid amount that is equal to or greater than the initial bid price; selecting, via a processor from the plurality of bids, a winning bid to receive the settlement contract, in which the winning bid comprises a bid amount that is greater than the bid amounts submitted by each of the plurality of bids; and transmitting to a remote device an indication that an agreement to exchange the settlement contract to the winning bid has been made.