Patent ID: 7499880

Claim:
A computer implemented method of conducting a live combinatorial exchange comprising: (a) directing a processor to store in a memory of a computer at least one bid received from each bidder of a plurality of bidders, wherein each bid is comprised of a plurality of items, an initial quantity of each item, and a price for all of the items and their quantities; (b) directing the processor of the computer to determine an allocation for the type of exchange being conducted, wherein said allocation includes a plurality of the bids with each bid of said allocation including all of the items of the bid and at least par of the initial quantity of each item; (c) directing the processor of the computer to cause at least a portion of each bid of said allocation to be displayed to each bidder of a first subset of the bidders that has at least one bid that is not include in said allocation; (d) directing the processor of the computer to store in the memory of the computer for each bidder of a subset of the first subset of bidders at least one of the following: a new bid or an amendment to en existing bid of the bidder; and (e) directing the processor of the computer to reapeat steps (b)-(d) until a predetermined condition is satisfied, wherein the predetermined condition includes at least one of the following: (i) a lapse of a predetermined time interval from commencement of the exchange, (ii) a manual abort, or (iii) a sum of the prices of the bids of the allocation reaching a predetermined value.