Patent ID: 8401943

Claim:
A computer-implemented method comprising: determining, by a computer-implemented auction system, a market price of a derivative security that represents exposure to the economic value of an employee stock option by: providing, by the computer-implemented auction system, to a potential investor, a maturity schedule that associates expected employee behavior with the performance of the derivative security; receiving, by an exchange system interface port, bids or offers at a pre-determined time prior to the start of an auction, the received bids being based at least in part on the maturity schedule and the expected employee behavior; determining, by the computer-implemented auction system, price information for the derivative security prior to a scheduled auction close; disseminating, by the exchange interface port, the determined price information for the derivative security to auction participants; and closing, by the computer-implemented auction system, the auction and executing on a computer orders and bids for the security at the determined price.