Electronic bartering system

Abstract

A computer system facilitates buying and selling securities. The computer system comprises a trading system for receiving and storing a plurality of portfolios. Each portfolio is associated with a respective trader. The computer system further comprises a plurality of client computers interfaced with the trading system. The trading system discovers a potential order match among the plurality of portfolios. The order match identifies a first trader, a security to trade and a condition for trading the security. The trading system determines a real time value associated with the order match, and the trading system notifies the first trader of the order match via one of the plurality of client computers.

29 . A computer system for facilitating buying and selling securities comprising:
 a trading system for receiving a plurality of portfolios, each portfolio associated with a respective trader;   a plurality of client computers interfaced with the trading system;   wherein the trading system discovers a potential order match among the plurality of portfolios, the order match identifying a first trader, a security to trade and a condition for trading the security;   wherein the trading system determines a real time value associated with the order match; and   wherein the trading system notifies the first trader of the order match via one of the plurality of client computers.   
   
   
       30 . The system of  claim 29  further comprising an investment company trading system for transferring account information. 
   
   
       31 . The system of  claim 29  including a link providing transparent access to the trading system via an investment company website. 
   
   
       32 . The system of  claim 29  wherein the trading system includes a subsystem for notifying the first trader of the order match. 
   
   
       33 . The system of  claim 32  wherein the subsystem purges an identity of a second trader. 
   
   
       34 . The system of  claim 32  wherein the trading system locks an order for a predetermine time period. 
   
   
       35 . The system of  claim 29  wherein the trading system is configured to act as a negotiator. 
   
   
       36 . The system of  claim 29  wherein the trading system determines the real time value based on a current security trading price. 
   
   
       37 . The system of  claim 29  wherein the condition for trading includes a quantity. 
   
   
       38 . The system of  claim 37  wherein the quantity includes a range. 
   
   
       39 . A method for facilitating buying and selling securities on a computerized system, the method comprising:
 receiving a plurality of portfolios at a trading system, each portfolio associated with a respective trader;   interfacing the trading system with a plurality of client computers;   discovering a potential order match among the plurality of portfolios, the order match identifying a first trader, a security to trade and a condition for trading the security;   determining a real time value associated with the order match; and   notifying the first trader of the order match via one of the plurality of client computers.   
   
   
       40 . The method of  claim 39  further comprising transferring account information from an investment company website. 
   
   
       41 . The method of  claim 39  further comprising providing a link to transparently access the trading system via an investment company website. 
   
   
       42 . The method of  claim 39  further comprising notifying the first trader of a potential match via a subsystem of the trading system. 
   
   
       43 . The method of  claim 42  wherein notifying includes purging an identity of a second trader. 
   
   
       44 . The method of  claim 42  further comprising locking an order for a predetermine time period. 
   
   
       45 . The method of  claim 39  further comprising enabling negotiation between the first trader and a second trader. 
   
   
       46 . The method of  claim 39  wherein determining the real time value is based on a current security trading price. 
   
   
       47 . The method of  claim 39  wherein the condition for trading includes a quantity. 
   
   
       48 . The method of  claim 47  wherein the quantity includes a range. 
   
   
       49 . A computer system for facilitating buying and selling securities comprising:
 a trading system for receiving a plurality of portfolios, each portfolio associated with a respective trader;   a plurality of client computers interfaced with the trading system;   wherein the trading system receives and stores at least one order from at least one of the plurality of client computers, each order identifying the respective trader, a security to trade and a condition for trading the security;   wherein the trading system determines a real time value associated with each order and matches at least two of the orders based on matching criteria; and   wherein the trading system processes the at least two matched orders.   
   
   
       50 . A method for facilitating buying and selling securities on a computerized system, the method comprising:
 receiving a plurality of portfolios at a trading system, each portfolio associated with a respective trader;   interfacing the trading system with a plurality of client computers;   receiving by the trading system at least one order from at least one of the plurality of client computers, each order identifying the respective trader, a security to trade and a condition for trading the security;   determining a real time value associated with each order;   matching at least two of the orders based on matching criteria; and   processing the at least two matched orders.