| 摘要 |
A computer based, secure system (40) for trading equities and other fungible commodities, operates on a network that includes a secure station and several remote user terminals (44, 46) linked to the secure station. A memory at the secure station stores user data and multiple prospective transaction entries received from the user terminals (44, 46). Each entry identifies a fungible item, e.g., an equity, and a transaction side, i.e. purchaser (44) or seller (46). Transacting parties remain anonymous, and transaction information remains confidential, until the match. After the match, only the parties involved in the match are notified, given the prospective transaction parameters based on the entries involved, and given user information necessary to contact one another to negotiate, and thus complete, the transaction. Transacting parties have an option to add additional conditions, e.g., acceptable price, amount and time limits, to their prospective transaction entries. Another option enables parties to place such entries in a pending mode in which the entry is not compared with other entries, and later change the mode form pending to active.
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