Patent ID: 7970689

Claim:
A method for conducting a single-period auction, comprising: during a single auction period, receiving, via a computer network, bids submitted by a plurality of offerees to purchase at least one item offered for trade, including an aggregated bid from a first offeree to purchase a desired quantity of the at least one item, wherein the aggregated bid includes: a first bid to purchase a first quantity of the at least one item, wherein the first bid originates from a first entity to which the first offeree has directly extended credit, and wherein the first entity has directly received an offer for trade of the at least one item from the first offeree; and a second bid to purchase a second quantity of the at least one item, wherein the second bid originates from a second entity to which the first offeree has not directly extended credit, wherein the second entity has not directly received an offer for trade of the at least one item from the first offeree, wherein the second entity has directly received an offer for trade of the at least one item from an intermediate entity that has directly extended credit to the second entity, and wherein the intermediate entity is not the first offeree; and after the single auction period concludes, a computer system: determining a closing price at which an offeror of the at least one item is willing to trade the at least one item, wherein the determining the closing price is based at least in part on the received bids; and matching two or more bids of the received bids at the determined closing price; wherein the desired quantity comprises the first quantity and the second quantity.