Automated auction protocol processor

Details Automated auction protocol processor Automated auction protocol processor

1996-12-13

1999-05-18

MacDonald, Allen R.

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

705 35, 705 36, G06F17/60;17/00;19/00

Patent

active

059059745

ABSTRACT:
A data processing system for implementing transaction management of auction-based trading for specialized items such as fixed income instruments. The data processing system provides a highly structured trading protocol implemented through a sequence of trading paradigms. The system employs a distributed computer processing network linking together a plurality of commonly programmed controlled workstations. The protocol and its programmed controlling logic enhances trading efficiency, rewards market makers and fairly distributes market opportunity to system users.

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