Methods and systems for retrieving data stored in a database

Abstract

A computer-implemented, transaction-making, municipal bond trading system having a capability to conduct a private electronic auction of bid wanteds between a central brokers' broker and multiple prospective remote bidders and to maintain a reference database of accurate individual bond lot descriptions and identifications, including CUSIP (trademark) numbers.

1 . A method implemented in an electronic auction system, the system comprising at least one computer coupled over a communication network to at least one selling user computer and at least one bidding user computer, the method comprising: 
 receiving data associated with at least one bid for at least one fixed income financial instrument from at least one the bidding user;    automatically computing an interest cost rate associated with the at least one fixed income instrument based at least on the bid data; and    communicating the at least one bid to the selling user computer, the at least one bid comprising the computed interest cost value.    
     
     
         2 . The method of  claim 1 , comprising receiving a bid wanted for the at least one fixed income financial instrument from the selling user, the bid wanted communicated to the at least one bidding user.  
     
     
         3 . The method of  claim 1 , wherein the data associated with the at least one data comprises a price for the at least one fixed income financial instrument.  
     
     
         4 . The method of  claim 3 , wherein the interest cost rate associated with the at least one fixed income financial instrument comprises a yield associated with the at least one financial instrument and the yield is computed based at least on the price for the at least one fixed income financial instrument.  
     
     
         5 . The method of  claim 1 , wherein the at least one fixed income financial instrument comprises at least one bond lot.  
     
     
         6 . The method of  claim 1 , wherein the at least one fixed income financial instrument comprises at least one municipal bond.  
     
     
         7 . The method of  claim 1 , comprising communicating a bid wanted for the at least one fixed income financial instrument to the at least one bidding user, the bid wanted comprising at least one field for the at least one bidding user to specify at least one bid particular.  
     
     
         8 . The method of  claim 7 , wherein the at least one bid particular comprises a price.  
     
     
         9 . The method of  claim 7 , wherein the at least one bid particular comprises a yield.  
     
     
         10 . The method of  claim 1 , wherein the selling user is able to accept the at least one bid transmitted to the selling user, the method comprising receiving an acceptance of at least one of the bids and executing a trade of the at least one fixed income financial instrument between the selling user and the at least one bidding user that submitted the accepted at least one bid.  
     
     
         11 . The method of  claim 1 , comprising receiving data associated with a plurality of bids for at least one fixed income financial instrument from a plurality of bidding users; identifying a high bid from the plurality of bids; and communicating at least the identified high bid to the selling user computer.  
     
     
         12 . The method of  claim 1 , comprising receiving data associated with a plurality of bids for at least one fixed income financial instrument from a plurality of bidding users; and communicating a plurality of bids to the selling user computer, wherein each of the plurality of bids are not disclosed to other bidding users.  
     
     
         13 . The method of  claim 1 , comprising verifying the data associated with the at least one bid.  
     
     
         14 . The method of  claim 1 , comprising receiving data associated with a plurality of bids for at least one fixed income financial instrument from a plurality of bidding users; and communicating plurality of bids to the selling user computer, wherein the plurality of bids are ordered based at least the interest rate cost.  
     
     
         15 . The method of  claim 1 , wherein the action comprises a time limit for receiving bids, the data associated with the at least one bid is received within the time limit.  
     
     
         16 . A system comprising at least one computer coupled over a communication network at least one selling user computer and at least one bidding user computer, the at least one computing device having software associated therewith that when executed performs a method comprising: 
 receiving data associated with at least one bid for at least one fixed income financial instrument from at least one the bidding user;    automatically computing an interest cost rate associated with the at least one fixed income instrument based at least on the bid data; and    communicating the at least one bid to the selling user computer, the at least one bid comprising the computed interest cost value.    
     
     
         17 . The system of  claim 16 , the method comprising receiving a bid wanted for the at least one fixed income financial instrument from the selling user, the bid wanted communicated to the at least one bidding user.  
     
     
         18 . The system of  claim 16 , wherein the data associated with the at least one data comprises a price for the at least one fixed income financial instrument.  
     
     
         19 . The system of  claim 18 , wherein the interest cost rate associated with the at least one fixed income financial instrument comprises a yield associated with the at least one financial instrument and the yield is computed based at least on the price for the at least one fixed income financial instrument.  
     
     
         20 . The system of  claim 16 , wherein the at least one fixed income financial instrument comprises at least one bond lot.  
     
     
         21 . The system of  claim 16 , wherein the at least one fixed income financial instrument comprises at least one municipal bond.  
     
     
         22 . The system of  claim 16 , comprising communicating a bid wanted for the at least one fixed income financial instrument to the at least one bidding user, the bid wanted comprising at least one field for the at least one bidding user to specify at least one bid particular.  
     
     
         23 . The system of  claim 22 , wherein the at least one bid particular comprises a price.  
     
     
         24 . The system of  claim 22 , wherein the at least one bid particular comprises a yield.  
     
     
         25 . The system of  claim 16 , wherein the selling user is able to accept the at least one bid transmitted to the selling user, the method comprising receiving an acceptance of at least one of the bids and executing a trade of the at least one fixed income financial instrument between the selling user and the at least one bidding user that submitted the accepted at least one bid.  
     
     
         26 . The system of  claim 16 , the method comprising receiving data associated with a plurality of bids for at least one fixed income financial instrument from a plurality of bidding users; identifying a high bid from the plurality of bids; and communicating at least the identified high bid to the selling user computer.  
     
     
         27 . The system of  claim 16 , the method comprising receiving data associated with a plurality of bids for at least one fixed income financial instrument from a plurality of bidding users; and communicating a plurality of bids to the selling user computer, wherein each of the plurality of bids are not disclosed to other bidding users.  
     
     
         28 . The system of  claim 16 , the method comprising verifying the data associated with the at least one bid.  
     
     
         29 . The system of  claim 16 , comprising receiving data associated with a plurality of bids for at least one fixed income financial instrument from a plurality of bidding users; and communicating plurality of bids to the selling user computer, wherein the plurality of bids are ordered based at least the interest rate cost.  
     
     
         30 . The system of  claim 16 , wherein the action comprises a time limit for receiving bids, the data associated with the at least one bid is received within the time limit.  
     
     
         31 . A system comprising at least one computer coupled over a communication network at least one selling user computer and at least one bidding user computer, the at least one computing device having software associated therewith that when executed performs a method comprising: 
 receiving data associated with a plurality of bids for at least one fixed income financial instrument from at least one the bidding user, the data comprising a price for the at least one fixed income financial instrument;    automatically computing an interest cost rate associated with the at least one fixed income instrument based at least on the bid data;    identifying a high bid from the plurality of bids;    communicating at least the identified high bid to the selling user computer the computed interest cost value;    receiving an acceptance of at least the identified high bid; and    executing a trade of the at least one fixed income financial instrument.