Robert R Pacheco

US Patent:

8239313, Aug 7, 2012

Filed:

Aug 2, 2002

Appl. No.:

10/211928

Inventors:

Jack Jenkins - Kingwood TX, US
John Berkley - Chicago IL, US
David M. Lee - Glendale AZ, US
Cheryl Cramer - New York NY, US
Ethan Laub - New York NY, US
Robert Pacheco - Montrose NY, US

Assignee:

American Express Travel Related Services Company, Inc. - New York NY

International Classification:

G06Q 40/00

US Classification:

705 37

Abstract:

A method and system of trading derivatives of various items includes an electronic marketplace configured to accept requests to purchase derivatives and requests to sell derivatives. The marketplace is configured to match requests to purchase with requests to sell when certain criteria are similar to within predetermined limits. Available derivatives include futures contracts, put options, and call options. The derivatives allow one to purchase rights in an item prior to the actual delivery of the item. In addition, the derivatives may be traded to other parties. The use of such derivatives also enables entities to negotiate the prices for various goods and services that were previously not readily negotiable in the past.