| 摘要 |
An Internet-based market hosting method for an Electronic Proxy Currency (EPC) Exchange (10) is disclosed. The concept, methods and processes incorporated in the invention are to create a publicly available, interactive, on-line Exchange facility (22) for the trading of electronic proxy currencies such as frequent flyer miles, frequent guest or buyer points or other such similar articles commonly known as customer loyalty rewards. The program incorporates a mixed auctioning method that allows for any user (20) to assume the role of either bidder or seller at opportune and appropriate junctures in the auction process. An authorized user may access the Exchange (22) on-line and engage in desired transactions using a pre-determined process. The program automatically authenticates the user's identity and verifies the user's available electronic proxy currencies. The user (20) may then electronically initiate, modify, cancel, or conclude an exchange transaction. The program also creates, maintains and updates a custodial account for registered users and communicates updated transaction information to the EPC issuer (21).
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