The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jan. 05, 2010
Filed:
Aug. 18, 2008
Michael H. Evelyn, Far Hills, NJ (US);
Robert S. Goldberg, Brookville, NY (US);
Jordan M. Hayes, Berkeley, CA (US);
Cliff M. Gerrish, San Francisco, CA (US);
Othar Hansson, Sunnyvale, CA (US);
Charles A. Ocheret, Scarsdale, NY (US);
Michael H. Evelyn, Far Hills, NJ (US);
Robert S. Goldberg, Brookville, NY (US);
Jordan M. Hayes, Berkeley, CA (US);
Cliff M. Gerrish, San Francisco, CA (US);
Othar Hansson, Sunnyvale, CA (US);
Charles A. Ocheret, Scarsdale, NY (US);
W.R. Hambrecht + Co., LLC, San Francisco, CA (US);
Abstract
An auction server node is described for a computer network having user nodes for conducting an auction run by an auction adviser for awarding securities from an issuer to bidders of the auction. There is real-time monitoring of the auction as it occurs, a bid mechanism for receiving competitive bids from the bidders at the user nodes, including a quantity of securities to be purchased, an initial price revealed to the other bidders, and a firm price not revealed to the other bidders and within a predetermined range of the initial price. A single market clearing price is determined that allocates to the bidders all of the securities in the auction. An incremental adjustment of the market clearing price may be made by at least one of the auction advisor and the issuer, and an allocation made of the securities to the bidders at the adjusted clearing price.