Seller risk auction platform

Details Seller risk auction platform Seller risk auction platform

2008-06-24

2008-06-24

Dass, Harish T. (Department: 3692)

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

Automated electrical financial or business practice or...

Finance

C705S035000, C705S03600T, C705S037000

Reexamination Certificate

active

07392220

ABSTRACT:
A method and system to implement a periodic auction by a seller of risk through a website for the purpose of transferring specific risks authorized by seller under its medium-term and long-term guarantee and medium-term insurance programs. A computerized communications network, such as the Internet, is used as a vehicle for implementing a seller risk auction. A website is utilized to present auction data and terms as well as auction rules and procedures. In addition, relevant information regarding an exposure can be posted on the website at the time the exposure is auctioned. The website can be interactive to ascertain that a potential bidder is an qualified counterparty.

REFERENCES:
patent: 5704045 (1997-12-01), King et al.
patent: 6134536 (2000-10-01), Shepherd
patent: 6317727 (2001-11-01), May
patent: 6360210 (2002-03-01), Wallman
ebay.com webpages (85 pages).
Martin Bichler Trading Financial Derivatives on the Web—An Approach Towards Automating Negotiations on OTC Markets, Apr. 2000.
Sam Kinney (“RIP fixed pricing: The Internet is on its way to “marketizing” everything”, Business Economics. Washington: Apr. 2000. vol. 35, Iss. 2; p. 39, 6 pgs).

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