Appeal No. 2004-2085
Application 09/272,542
BACKGROUND
The invention relates to an automated auction system and
method for trading products such as equity securities.
Claim 33 is reproduced below.
33. A system for auctioning financial products over a
distributed, networked computer system, said system
comprising:
a plurality of workstations for entering orders for
financial products into the distributed, networked computer
system by specifying in the order a quantity of the
financial product and an exposure time for which the order
is displayed for responses;
a plurality of workstations for entering responses to
orders for the product, said responses specifying a price
and a quantity;
a server computer coupled to the workstations for
entering the orders and the responses, said server computer
executing a server process that for a first one of said
orders,
determines a match to said first order with the
responses and contra-side orders during the exposure time
specified by said first order.
THE REFERENCES
The examiner relies on the following references:
Silverman et al. (Silverman) 5,136,501 August 4, 1992
Harrington et al. (Harrington) 6,161,099 December 12, 2000
(filed May 29, 1998)
THE REJECTIONS
Claims 33, 34, 39, and 64 stand rejected under 35 U.S.C.
§ 102(e) as being anticipated by Harrington.
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