Patent ID: 8239317

Claim:
A computer-implemented method of facilitating trading, the method being performed on a computer system, the method comprising: a. establishing a standardized form of contract for trading at a price on which a buyer and a seller agree, and having terms requiring the buyer and seller to settle based on a final settlement price; and b. at least prior to a first reference time, facilitating trading of contracts based on said standardized form of contract through an exchange, a futures exchange, an options exchange, or a futures and options exchange; wherein said final settlement price is determined as follows: i. determining, using the computer system, a first level of a specified observable quantity (an “underlying”), at or around said first reference time; ii. determining, using the computer system, a second level of said underlying at or around a second reference time, determined in accordance with the contract terms, that is later than said first reference time; and iii. determining, using the computer system, in accordance with the contract terms, the final settlement price by reference to both said first level and said second level, said final settlement price being determined as something other than a simple average of the two levels.