METHOD OF CONDUCTING ONLINE AUCTION OF COMMODITIES USING STOCK INDICES AND RECORDING MEDIUM Russian patent published in 2013 - IPC G06Q30/08 

Abstract RU 2477890 C2

FIELD: information technology.

SUBSTANCE: in the method, participants enter their bid number only at a certain time. Figures are extracted from two more stock indices. The winning number is formed by combining the extracted figures in a given sequence. The winning bid number is determined. If there is one or more bid numbers of participants which are identical to the winning bid number, the participant making the earliest bid is the auction winner. If there is no bid number of a participant identical to the winning number, the auction winner is the earliest participant whose bid number is the closest to the winning bid number. A command is then executed to deliver the commodity to the participant selected as the auction winner.

EFFECT: high reliability of conducting an online auction and accuracy of results thereof.

5 cl, 6 dwg

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RU 2 477 890 C2

Authors

Jun Keun Soo

Dates

2013-03-20Published

2008-01-04Filed