DIRECT EXCHANGE SYSTEM

摘要

An exchange system for valuable commodities is of particular benefit in the area of foreign currency exchange, permitting direct exchange of currency between users of the system. A user defines a desired transaction comprising a commodity offered, such as a first currency; a commodity desired, such as a second currency; an amount of either the offered or desired commodity; and a minimum acceptable exchange rate between the commodities. A chain of transactions is calculated and implemented, which comprises desired transactions defined by other users of the system, and which at least partially satisfies said user's desired transaction, at his acceptable exchange rate or better. If necessary, further chains are calculated and implemented until said user's desired transaction is fully satisfied or until no more chains are possible at an acceptable exchange rate. The desired transaction is then either halted or suspended until more desired transactions have been entered into the system allowing further chains to be calculated.