WO2006083709A3 - Systems and methods for improving auction liquidity - Google Patents

Systems and methods for improving auction liquidity Download PDF

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Publication number
WO2006083709A3
WO2006083709A3 PCT/US2006/002920 US2006002920W WO2006083709A3 WO 2006083709 A3 WO2006083709 A3 WO 2006083709A3 US 2006002920 W US2006002920 W US 2006002920W WO 2006083709 A3 WO2006083709 A3 WO 2006083709A3
Authority
WO
WIPO (PCT)
Prior art keywords
auction
systems
methods
improving
liquidity
Prior art date
Application number
PCT/US2006/002920
Other languages
French (fr)
Other versions
WO2006083709A2 (en
Inventor
Oliver L Frankel
Original Assignee
Goldman Sachs & Co
Oliver L Frankel
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Goldman Sachs & Co, Oliver L Frankel filed Critical Goldman Sachs & Co
Publication of WO2006083709A2 publication Critical patent/WO2006083709A2/en
Publication of WO2006083709A3 publication Critical patent/WO2006083709A3/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q30/00—Commerce
    • G06Q30/06—Buying, selling or leasing transactions
    • G06Q30/08—Auctions
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/04—Payment circuits
    • G06Q20/042—Payment circuits characterized in that the payment protocol involves at least one cheque
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
    • G06Q20/102—Bill distribution or payments
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
    • G06Q20/105—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems involving programming of a portable memory device, e.g. IC cards, "electronic purses"
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
    • G06Q20/108—Remote banking, e.g. home banking
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
    • G06Q20/108—Remote banking, e.g. home banking
    • G06Q20/1085—Remote banking, e.g. home banking involving automatic teller machines [ATMs]
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
    • G06Q20/36—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes
    • G06Q20/367—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes involving electronic purses or money safes
    • G06Q20/3674—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes involving electronic purses or money safes involving authentication
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/40—Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/03—Credit; Loans; Processing thereof
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/06—Asset management; Financial planning or analysis

Abstract

Systems, methods, apparatus, and means for improving liquidity in a securities auction include selecting a cover to use to provide general liquidity to the auction, the cover having a plurality of options, calculating a fair value price for each option in the cover, creating an order associated with each of the options, and submitting the orders during the auction.
PCT/US2006/002920 2005-02-01 2006-01-27 Systems and methods for improving auction liquidity WO2006083709A2 (en)

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
US64891605P 2005-02-01 2005-02-01
US60/648,916 2005-02-01

Publications (2)

Publication Number Publication Date
WO2006083709A2 WO2006083709A2 (en) 2006-08-10
WO2006083709A3 true WO2006083709A3 (en) 2007-10-25

Family

ID=36777790

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US2006/002920 WO2006083709A2 (en) 2005-02-01 2006-01-27 Systems and methods for improving auction liquidity

Country Status (2)

Country Link
US (1) US7606763B2 (en)
WO (1) WO2006083709A2 (en)

Families Citing this family (14)

* Cited by examiner, † Cited by third party
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US8266042B2 (en) * 2004-12-21 2012-09-11 Weather Risk Solutions, Llc Financial activity based on natural peril events
US7693766B2 (en) 2004-12-21 2010-04-06 Weather Risk Solutions Llc Financial activity based on natural events
US7584133B2 (en) 2004-12-21 2009-09-01 Weather Risk Solutions Llc Financial activity based on tropical weather events
US7783543B2 (en) 2004-12-21 2010-08-24 Weather Risk Solutions, Llc Financial activity based on natural peril events
US7783544B2 (en) 2004-12-21 2010-08-24 Weather Risk Solutions, Llc Financial activity concerning tropical weather events
US7783542B2 (en) 2004-12-21 2010-08-24 Weather Risk Solutions, Llc Financial activity with graphical user interface based on natural peril events
US7584134B2 (en) 2004-12-21 2009-09-01 Weather Risk Solutions, Llc Graphical user interface for financial activity concerning tropical weather events
WO2008100902A1 (en) 2007-02-12 2008-08-21 Pricelock, Inc. System and method for estimating forward retail commodity price within a geographic boundary
US8156022B2 (en) 2007-02-12 2012-04-10 Pricelock, Inc. Method and system for providing price protection for commodity purchasing through price protection contracts
WO2008124712A1 (en) 2007-04-09 2008-10-16 Pricelock, Inc. System and method for constraining depletion amount in a defined time frame
WO2008124719A1 (en) 2007-04-09 2008-10-16 Pricelock, Inc. System and method for providing an insurance premium for price protection
US7949585B2 (en) * 2007-12-14 2011-05-24 Nicholas Matthew Maounis Method and system for providing risk tranches in an investment product
US8160952B1 (en) 2008-02-12 2012-04-17 Pricelock, Inc. Method and system for providing price protection related to the purchase of a commodity
US20140101017A1 (en) * 2012-10-04 2014-04-10 Trading Technologies International, Inc. Configurable Order Entry, Matching, Coordination, and Market Data Intervals

Citations (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US20040111358A1 (en) * 1999-07-21 2004-06-10 Jeffrey Lange Enhanced parimutuel wagering

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US8577778B2 (en) * 1999-07-21 2013-11-05 Longitude Llc Derivatives having demand-based, adjustable returns, and trading exchange therefor
US6321212B1 (en) * 1999-07-21 2001-11-20 Longitude, Inc. Financial products having a demand-based, adjustable return, and trading exchange therefor
US7996296B2 (en) * 1999-07-21 2011-08-09 Longitude Llc Digital options having demand-based, adjustable returns, and trading exchange therefor
US7835973B2 (en) * 1999-10-20 2010-11-16 Accenture Global Services Limited Spot market clearing
US8924277B2 (en) * 2000-08-17 2014-12-30 Nyse Group, Inc. Method and system for automatic execution of a securities transaction
US7136833B1 (en) * 2000-09-25 2006-11-14 Eugene Lawrence Podsiadlo Communication network based system and method for auctioning shares on an investment product
US20040024692A1 (en) * 2001-02-27 2004-02-05 Turbeville Wallace C. Counterparty credit risk system
AU2002250316B2 (en) * 2001-04-23 2007-12-20 Oracle International Corporation Methods and systems for carrying out contingency-dependent payments via secure electronic bank drafts supported by online letters of credit and/or online performance bonds
US7685050B2 (en) * 2001-12-13 2010-03-23 Bgc Partners, Inc. Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items
EP1321870A1 (en) * 2001-12-14 2003-06-25 Deutsche Börse Ag Integrated order pre-matching system
US8112331B2 (en) * 2002-03-06 2012-02-07 Reflow Services, Llc System and method for providing liquidity
US20040006534A1 (en) * 2002-06-20 2004-01-08 Fung Ka Shun Kevin Method and system for managing credit-related and exchange rate-related risk
US20040167845A1 (en) * 2003-02-21 2004-08-26 Roger Corn Method and apparatus for determining a minimum price per click for a term in an auction based internet search
US20060167773A1 (en) * 2003-11-12 2006-07-27 Kangle Yang Settlement of auctions by determining quantity before price

Patent Citations (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US20040111358A1 (en) * 1999-07-21 2004-06-10 Jeffrey Lange Enhanced parimutuel wagering

Also Published As

Publication number Publication date
WO2006083709A2 (en) 2006-08-10
US7606763B2 (en) 2009-10-20
US20060173774A1 (en) 2006-08-03

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