System and method for collecting, aggregating, and...

H - Electricity – 04 – L

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H04L 12/16 (2006.01) G06F 17/30 (2006.01) G06Q 30/00 (2006.01)

Patent

CA 2317332

A method and system for providing real-time, accurate, and comprehensive pricing information to dealers of a product, such as, financial instruments, in a cost efficient manner. The system receives the dealer's internal, proprietary pricing information, determines a composite price for the product based on the received information, and distributes the composite price in a customized digital data feed to the dealer. A dealer receives only receives this composite pricing information for products on which it has submitted its internal pricing information. The composite price reflects pricing information collected from several dealers while maintaining the confidentiality of each dealer. Pricing information received from each dealer is compared to pricing information received from other dealers, and dealers found to provide pricing information which is inconsistent with pricing information provided by other dealers are prohibited from receiving composite pricing information in the future. The system and method can also be used to provide composite pricing information on any commodity which is sold at a non-fixed price outside an organized exchange.

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