United States Patent 7,502,757
7,502,757
System and method for matching buyers and sellers in a marketplace
Issued: March 10, 2009
Assignee: i2 Technologies US, Inc. (Dallas, TX)
Inventors: Schmidt; Craig (Sommerville, MA)
Abstract: In accordance with the present invention, a system and method for matching buyers and sellers in a marketplace accepts limit bids and offers into a central system. Periodically, an optimizing algorithm is executed to match buyers and sellers. The algorithm utilizes techniques to maximize global utility. After buyers and sellers are matched, a transaction price is calculated for each pairing. The transaction price is selected to ensure that each participant executes the transaction at that participant's best effective transaction price.
Posted in To Review, Trademark Articles