Patent ID: 7349879

Claim:
A computer-implemented method for clearing binding offers, each of which specifies conditions for acceptance, the method comprising: receiving a plurality of binding advantaged offers each having a respective requested close time, wherein an advantaged offer is one which, once associated with a given disadvantaged offer, will necessarily be transacted upon, either in accordance with terms originally associated with the advantaged offer, or in accordance with better terms; respectively associating individual binding advantaged offers with individual available most-favorable binding disadvantaged offers each having a respective requested close time, wherein the conditions of acceptance of the individual binding advantaged offers are met by respective binding disadvantaged offers; changing the association of one of the individual binding associated advantaged offers to a newly available binding disadvantaged offer that offers more favorable terms than a currently associated binding disadvantaged offer, when the newly available binding disadvantaged offer is received and meets the conditions of acceptance of the associated binding advantaged offer, wherein the step of changing the association is performed in order of chronological priority of receipt of the binding advantaged offers; at a predetermined time based on respective requested close times of associated individual binding advantaged offers and binding disadvantaged offers, clearing the associated individual binding advantaged offers and binding disadvantaged offers to produce cleared individual binding advantaged offers and binding disadvantaged offers; and transmitting transaction directives to transacting buyers and sellers associated respectively with the cleared individual binding advantaged offers and binding disadvantaged offers.