COMMODITIES EXCHANGE SYSTEM AND METHOD

摘要

An electronic commodities exchange system (2) for trading physical commodities between buyers and sellers on a commodities market via a communications network comprises at least one interface (30) through which buyers submit orders to buy a commodity and sellers submit orders to sell a commodity, a trading engine (24) for matching the orders to sell with the orders to buy at least on the basis of a common commodity type and a common price between the orders, a settlement and clearing engine (26) for managing the settlement and clearance of deals created from matched orders to sell and orders to buy. The exchange system cooperates with a holder (6) of the commodity to arrange for delivery of the commodity according to the deal.