Patent ID: 8612328

Claim:
An automated method for facilitating competitive virtual trading of assets comprising the following operations executed by a computer: (a) storing first and second monetary values in respective first and second trading accounts of first and second participants, said first and second monetary values representing respective amounts of money deposited by said first and second participants; (b) setting a risk parameter for a trading session, said risk parameter being a third monetary value representing a maximum amount of money that will be risked by each of said first and second participants during said trading session, said third monetary value being less than or equal to each of said first and second monetary values; (c) determining a current price for each asset eligible to be virtually traded during said trading session, each current price of an eligible asset being determined as a function of a current price quotation in effect during actual trading of the eligible asset on an exchange; (d) sending each determined current price for each eligible asset to both of said first and second participants during said trading session; (e) accepting buy and sell orders from said first and second participants for the virtual purchase and sale of respective quantities of eligible assets during said trading session, each order involving a respective quantity of a selected one of said eligible assets having a preset monetary value that is greater than said third monetary value by a leverage factor, wherein each order placed is filled at the asset price current at the time when the order is placed; (f) after each change in the price of any asset held by either of said first and second participants during said trading session, computing a difference between the sum of all gains and losses achieved by said first participant and the sum of all gains and losses achieved by said second participant; (g) stopping said trading session; and (h) crediting said first trading account by an amount equal to the difference between the sum of all gains and losses achieved by said first participant and the sum of all gains and losses achieved by said second participant during said trading session less a commission and debiting said second trading account by an amount equal to said difference.