Patent ID: 7756766

Claim:
A method of setting a selling price of each of a plurality of financial instruments to be subsequently sold, comprising: 1) using a computing device for performing steps a) to c); a) accepting a plurality of respective submissions nominating a number and price of said financial instruments while the financial instruments are not yet available for purchase, b) establishing a moving price of said financial instruments at any time while the financial instruments remain not available for purchase and while accepting said plurality of respective submissions, wherein a respective moving price represents a possible selling price for the financial instruments once the financial instruments are available for purchase, the moving price being electronically determined on the basis of parameters governing price, which parameters comprise all of said plurality of nominated numbers and prices of said financial instruments accepted before the determination of said respective moving price, and c) issuing the moving price on demand at any time while accepting the plurality of respective submissions, thereby allowing each respective submission of nominating number and price to be factored in the moving price; and 2) then electronically establishing a selling price for each financial instrument to be offered for purchase; said selling price based on said moving price and issuing said selling price of each of the financial instruments to be subsequently sold.