Patent ID: 8510204

Claim:
A decentralized system for conducting transactions, comprising: first server resources associated with a first trading party, the first server resources comprising the following in the form of instructions stored in tangible memory: an application layer; a first execution system configured to execute offer-and-acceptance-type transactions initiated by the application layer of the first server in response to the first trading party generating and submitting an offer to a second trading party; and a first messaging system working in conjunction with the first execution system; second server resources associated with the second trading party, the second server resources in communication with the first server resources, the second server resources being separate and distinct from the first server resources and the second server resources comprising the following in the form of instructions stored in tangible memory: an application layer; a second execution system, different from the first execution system, configured to execute offer-and-acceptance-type transactions initiated by the application layer of the second server in response to the second trading party generating and submitting one or more of an offer and counteroffer to the first trading party or a third trading party; and a second messaging system working in conjunction with the second execution system; wherein the first trading party originates a transaction using the application layer of the first server resources, wherein the transaction comprises an offer having a number of parameters associated therewith, wherein the first trading party employs the first messaging system of the first server resources to send the offer to the second server resources, and wherein automatic execution rights associated with the transaction are maintained exclusively by the first execution system of the first server resources, and wherein the first and second trading parties are counterparties to the transaction.