Derivatives having demand-based, adjustable returns, and trading exchange therefor

摘要

A computer system for conducting demand-based trading auction, comprises at least one processor configured to determine at least one parameter of a contingent claim, in a replication set of at least one contingent claim, as a function of at least one parameter of the derivatives strategy and an outcome of the event and determine an investment amount for the contingent claim in the replication set as a function of the at least one parameter of the contingent claim and a total amount invested in the demand-based auction. The computer system further comprises at least one database module and at least one terminal. The processor is operative with the at least one database module and the at least one terminal.