Real time network exchange with seller specified exchange parameters and interactive seller participation

Abstract

A system and method for networked exchange are disclosed. A system for networked exchange comprises an internal proxy; an exchange processor in communication with the internal proxy; a database in communication with the internal proxy; an external proxy in communication with the internal proxy; and, a communications network connected to the external proxy. A method for networked exchange comprises 8 steps. Those steps are (1) specifying a mode of operations for an exchange; (2) identifying a financial instrument for the exchange; (3) listing information about the financial instrument; (4) accessing of the listing by a potential purchaser; (5) accessing the network-based exchange by the potential purchaser; (6) processing information generated by the potential purchaser, the information comprising a negotiation; (7) concluding the negotiation; and, (8) clearing the concluded negotiation.

We claim:  
     
         42 . A method for operating a networked exchange in which a financial instrument is traded from a seller to a purchaser by an exchange processor comprising: 
 said seller identifying said financial instrument for said exchange;    specifying a mode of operations for an exchange;    said purchaser accessing said networked exchange;    said exchange processor processing information generated by said purchaser, said processing information comprising a negotiation between said seller and said purchaser;    concluding said negotiation between said seller and said purchaser; and    said exchange processor clearing said concluded negotiation.    
     
     
         43 . The method of  claim 42  wherein said step of specifying a mode of operations comprises: 
 specifying a start time for said exchange;  
 specifying an end time for said exchange;  
 categorizing said financial instrument for said exchange;  
 specifying an access status for said exchange; and,  
 specifying a negotiations status for said exchange.  
 
     
     
         44 . The method of  claim 42 , wherein said specifying a mode of operations for an exchange is done by said seller.  
     
     
         45 . The method of  claim 42  wherein said step of said seller identifying said financial instrument to be traded comprises: 
 said seller classifying said financial instrument;  
 said seller entering a price for said financial instrument; and,  
 said seller entering a goal for said exchange.  
 
     
     
         46 . The method of  claim 42 , further comprising: 
 said processor listing information about said financial instrument; and,    said purchaser accessing said listing.    
     
     
         47 . The method of  claim 46  wherein said step of said exchange operator listing information about said financial instrument comprises posting said listing information.  
     
     
         48 . The method of  claim 46 , wherein said listing information comprises: 
 a description of said financial instrument; and,    a bid start price for said financial instrument.    
     
     
         49 . The method of  claim 48 , wherein said listing information is posted on a world wide web page.  
     
     
         50 . The method of  claim 48 , wherein said listing information is sent to at least one subscriber.  
     
     
         51 . The method of  claim 50 , wherein said listing information is sent by E-mail.  
     
     
         52 . The method of  claim 46 , wherein said step of said purchaser accessing of said listing comprises searching for information about said financial instrument.  
     
     
         53 . The method of  claim 42 , wherein said step of said purchaser accessing said networked exchange comprises: 
 using a graphical interface to view said exchange;    chatting about said good or service to be exchanged; and,    bidding on said good or service to be exchanged.    
     
     
         54 . The method of  claim 53 , wherein said graphical interface is a scroller.  
     
     
         55 . The method of  claim 53 , wherein said graphical interface is a dual scroller.  
     
     
         56 . The method of  claim 53 , wherein said graphical interface is a three-dimensional scroller.  
     
     
         57 . The method of  claim 53 , wherein said chatting is between said purchaser and said seller.  
     
     
         58 . The method of  claim 53 , wherein said chatting is between said purchaser and at least one other purchaser.  
     
     
         59 . The method of  claim 42 , wherein said step of said exchange processor processing information generated by said purchaser comprises: 
 filtering said information generated by said purchaser; and,    routing said information generated by said purchaser.    
     
     
         60 . The method of  claim 42 , wherein said step of concluding said negotiation between said seller and said purchaser comprises matching an offer by said purchaser to a goal price.  
     
     
         61 . The method of  claim 42 , wherein said step of said exchange processor clearing said concluded negotiation comprises: 
 obtaining an exclusive right to modify a lock on a first data record;    obtaining an exclusive right to modify a lock on a second data record;    exchanging data in said first data record and said second data record;    releasing said exclusive right to modify lock on a first data record; and,    releasing said exclusive right to modify lock on a second data record.    
     
     
         62 . The method of  claim 61 , wherein said step of said exchange processor clearing said concluded negotiation further comprises: 
 modifying a third data in a third data record; said third data representing a commission.    
     
     
         63 . Computer-readable media having computer-readable code embodied therein for networked exchange of a financial instrument between a seller and a purchaser, said computer readable code comprising: 
 means for identifying said financial instrument for said exchange:    means for specifying a mode of operations for an exchange;    means for accessing said networked exchange by said purchaser;    means for processing information generated by said purchaser, said means for processing information comprising a negotiation;    means for concluding said negotiation; and    means for clearing said concluded negotiation.    
     
     
         64 . The computer-readable media of  claim 63 , wherein said means for specifying a mode of operations comprises: 
 means for specifying a start time for said exchange;    means for specifying an end time for said exchange;    means for categorizing a financial instrument for said exchange;    means for specifying an access status for said exchange; and,    means for specifying a negotiations status for said exchange.    
     
     
         65 . The computer-readable media of  claim 63 , wherein said means for identifying said financial instrument to be traded comprises: 
 means for classifying said financial instrument;    means for entering a price for said financial instrument; and,    means for entering a goal for said exchange.    
     
     
         66 . The computer-readable media of  claim 63 , wherein said means for processing information generated by said purchaser comprises: 
 means for filtering said information generated by said purchaser; and,    means for routing said information generated by said purchaser.    
     
     
         67 . The computer-readable media of  claim 63 , wherein said means for clearing said concluded negotiation comprises: 
 means for obtaining an exclusive right to modify a lock on a first data record;    means for obtaining an exclusive right to modify a lock on a second data record;    means for swapping data in said first data record and said second data record;    means for releasing said exclusive right to modify lock on a first data record; and,    means for releasing said exclusive right to modify lock on a second data record.    
     
     
         68 . The computer-readable media of  claim 63 , wherein said means for clearing said concluded negotiation further comprises means for modifying data in a third data record; said data representing a commission.  
     
     
         69 . The method of  claim 42 , wherein said financial instrument comprises a stock.  
     
     
         70 . The method of  claim 42 , wherein said financial instrument comprises an option.  
     
     
         71 . The method of  claim 42 , wherein said financial instrument comprises a future.  
     
     
         72 . The method of  claim 42 , wherein said financial instrument comprises a security.  
     
     
         73 . The method of  claim 42 , wherein said financial instrument comprises a currency.  
     
     
         74 . The method of  claim 42  further comprising using software agents to automatically search for financial instruments to bid on.  
     
     
         75 . The method of  claim 42  further comprising using software agents to monitor bid status to automatically bid on financial instruments without purchaser intervention.  
     
     
         76 . The method of  claim 42  further comprising using software agents to monitor closing items to automatically bid on financial instruments without purchaser intervention.  
     
     
         77 . The computer-readable media of  claim 63 , wherein said financial instrument comprises a stock.  
     
     
         78 . The computer-readable media of  claim 63 , wherein said financial instrument comprises an option.  
     
     
         79 . The computer-readable media of  claim 63 , wherein said financial instrument comprises a future.  
     
     
         80 . The computer-readable media of  claim 63 , wherein said financial instrument comprises a security.  
     
     
         81 . The computer-readable media of  claim 63 , wherein said financial instrument comprises a currency.  
     
     
         82 . The computer-readable media of  claim 63 , wherein said computer-readable code further comprises means for automatically searching for financial instruments to bid on.  
     
     
         83 . The computer-readable media of  claim 63 , wherein said computer-readable code further comprises means for monitoring bid status to automatically bid on financial instruments without purchaser intervention.  
     
     
         84 . The computer-readable media of  claim 63 , wherein said computer-readable code further comprises means for monitoring closing items to automatically bid on financial instruments without purchaser intervention.