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WO1999026173A1 - Systeme de commerce electronique configurable et procede associe - Google Patents

Systeme de commerce electronique configurable et procede associe Download PDF

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Publication number
WO1999026173A1
WO1999026173A1 PCT/CN1997/000128 CN9700128W WO9926173A1 WO 1999026173 A1 WO1999026173 A1 WO 1999026173A1 CN 9700128 W CN9700128 W CN 9700128W WO 9926173 A1 WO9926173 A1 WO 9926173A1
Authority
WO
WIPO (PCT)
Prior art keywords
price
factor
database
factors
trading system
Prior art date
Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
Ceased
Application number
PCT/CN1997/000128
Other languages
English (en)
Inventor
Fujun Bi
Ran Li
Shaun Bliss
Hong Yan
Current Assignee (The listed assignees may be inaccurate. Google has not performed a legal analysis and makes no representation or warranty as to the accuracy of the list.)
Individual
Original Assignee
Individual
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Individual filed Critical Individual
Priority to AU50466/98A priority Critical patent/AU5046698A/en
Priority to PCT/CN1997/000128 priority patent/WO1999026173A1/fr
Publication of WO1999026173A1 publication Critical patent/WO1999026173A1/fr
Anticipated expiration legal-status Critical
Ceased legal-status Critical Current

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Classifications

    • G—PHYSICS
    • G06—COMPUTING OR CALCULATING; COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
    • H—ELECTRICITY
    • H04—ELECTRIC COMMUNICATION TECHNIQUE
    • H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
    • H04L12/00—Data switching networks
    • H04L12/02—Details
    • H04L12/16—Arrangements for providing special services to substations
    • H04L12/18—Arrangements for providing special services to substations for broadcast or conference, e.g. multicast
    • H04L12/1804—Arrangements for providing special services to substations for broadcast or conference, e.g. multicast for stock exchange and similar applications

Definitions

  • the present invention relates to an electronic trading system or E-commerce system, and specifically, relates to an extension of an electronic trading system built on a database allowing a vendor user to create offers which are then searchable by other users, and allowing a customer user to change his selection on the terms and providing variable offers to the customer user.
  • the trading system will allow a trader to create a single offer using an interface whereby each element of the offer is entered individually and a unit price is specified.
  • Fig.1 illustrates a block diagram of a conventional electronic trading system.
  • a single offer is input via a customer offer entry interface(Web) then searched by other traders, and if a matching result is obtained, the matching result is sent to the trader and the trader is infoimed via a customer notification interface, such as Email or pager.
  • a customer notification interface such as Email or pager.
  • the unit price of a product is not constant, it changes depends on various factors, hi the real world of trading, a trader who specializes in selling product will have a particular product which is sold for different prices depending on a number of terms such as: Shipping Time, Quantity, Payment Term, Shipping Destination etc. All these factors affect the unit price. Therefore, with the conventional trading system, the seller can not provide offers with different prices dependent on changed terms, he has to enter multiple offers, each with different factors and a different unit price; and the buyer can not get a new price offer from the seller instantly after he changes the terms.
  • the conventional electronic trading system is not convenient or time efficient for a user to handle offer entry and output process.
  • a vendor uses such a system it does not give the required flexibility to enter a large amount of offer options in a short period of time, and when a customer user changes his selection on the terms it can not provide changed offers to the customer user. Therefore, the efficiency of the conventional trading system for transmitting information between the users is limited.
  • the present invention provides a computer trading system used by a plurality of users, comprising: a computer system; a database provided in said computer system; means for receiving data including product infoimation, price factors, and a set of price factor options for each price factor specified input from an authorized user and storing said data in said database; means for retrieving said data including product information, price factors and price factor options from said database and processing said data according to a pre-determined mathematical relation to create multiple single offers in said database; means for receiving another user's selection to the price factor options of the respective price factors and providing a corresponding offer from the multiple single offers in said database to said another user.
  • said trading system further comprises means for providing and displaying a unit price generated in accordance with the mathematical relation based on said another user's selection to the price factor options of the respective price factors to said another user.
  • said trading system further comprises a search engine for comparing and matching a requirement input by a user with other users' offers stored in the database and returning matching results to said user; and said users interface to said trading system is via the internet.
  • the present invention further provides a data processing method used in a computer trading system, wherein said trading system includes a computer system and a database provided in the computer system, said method comprising the steps of: receiving data including product information, price factors, and a set of price factor options for each price factor specified input from an authorized user and storing said data in said database; retrieving said data including product information, price factors and price factor options from said database and processing said data according to a pre-determined mathematical relation to create multiple single offers in said database; and receiving another user's selection to the price factor options of the respective price factors and providing a corresponding offer from the multiple single offers in said database to said another user
  • said step for receiving another user's selection and providing offer includes a step of providing and displaying a unit price generated in accordance with the mathematical relation based on said another user's selection to the price factor options of the respective price factors to said another user.
  • Fig.1 illustrates a block diagram of a conventional electronic trading system
  • Fig. 2 shows the basic structure of the configurable computer trading system of the present invention
  • Fig. 3 illustrates a web-based clients communicating over the internet to an information server according to an embodiment of the invention
  • Fig. 4 illustrates the main data flow diagram of the present invention
  • Fig. 5 shows the basic data structures involved in entering loaded-factor product and price information
  • Fig. 6a shows the high-level flowcharts of the loaded-factor offer creation process
  • Fig. 6b shows a finer-detail flowchart of the "get first factor set” procedure mentioned in the flowchart in Fig. 6a
  • Fig. 6c shows a finer-detail flowchart of the "get next factor set” procedure mentioned in the flowchart in Fig. 6a;
  • Fig. 7 illustrates an example of the user interface for the trader who sells products (vendor) according to the present invention
  • Fig. 8 illustrates an example of the customer user interface provided by the configurable computer trading system according to the present invention.
  • Fig. 2 shows the architecture of the configurable computer trading system of the present invention.
  • the conventional trading system only allows the creation of single offer and for those to be searched by a searching component.
  • the configurable computer trading system according to an embodiment of the -o-
  • present system comprises a loaded factor pricing file module for inputting the price factors and price options and storing them in the database in the system; a loaded factor pricing adininistration module for modifying the existing price factor already stored in the database.
  • the seller or vendor is allowed to enter a range of products, prices and price factors and these data is converted into a whole range of single offers by the configurable Loaded Factor Offer Creation System.
  • the newly created offers can then be searched using the existing search technologies.
  • the Loaded Factor Quote System is used for receiving from a customer interface(web) buyer's selection to the price factors and price factor options and providing a corresponding offer from the multiple single offers in said database to said another user, this will be described more below.
  • Fig. 3 illustrates a web-based clients communicating over the internet to an information server according to an embodiment of the invention.
  • the computer trading system according to the invention includes a object relational database provided in a web server.
  • the vendor enters product and price information into the object-relational using a password protected web interface, i.e., create multiple single offers in the database.
  • the customer can then obtain pricing information through the customer interface which uses data from the object relational database and process it using a custom program written in an interactive language understood by the web browser, where it runs. This custom program allows the customer to select the product and any number of pricing factor and produces an instant visible price quote.
  • Fig. 4 illustrates the main data flow diagram of the present invention. In Fig.
  • the product information and price factors is entered by a process of enter loaded factor price data and stored in the database as loaded factor price data.
  • the loaded factor offer creation process is executed for retrieving the loaded factor price data from the database, processing them according to a predetermined mathematical relation, which will be described in detail below, to generate a unit price for each single offer, and creating multiple single offers in the database.
  • the offers thus created in the database can be searched or matched by a search process or search engine when another user input his search requirement or search criteria into the system, and the single offers matching the requirement is returned to the user as search results.
  • Fig. 5 shows the data structures created within the object relational database by the vendor administration interface of the Loaded-Factor Offer Creation System.
  • An offer grid includes a product with a base price and a number of price factors which affect the overall price of the order in some way. These factors could be quantity, shipping date, sliipping destination for example. The number of factors is configurable by the vendor in the vendor administration screen. Each price factor includes a description, a price variation(PFV) and a number of factor options. Each factor option includes a description and a price factor option variation(FOV) assigned to the factor option. How the base price, factor price, factor option price affect the overall price is determined by the Price Determination Equation Equation which shows the mathematical relation linking the various price factors to the actual final price of the order. The price determination equation is used to generate a unit price for each single offer, and the mathematical relation thereof is as follows:
  • Unit _price base_price X ⁇ PFV X FOV ⁇ (1)
  • N is the total number of the price factors for a certain product.
  • Fig. 6a shows the detail flowcharts of the loaded-factor offer creation process in Fig. 4.
  • Fig. 6a in the procedure, for each product, getting in the product first, then getting in all price factors and price factor options; using the input data, the single offers with unit prices for each possible combination of price factor options are generated according to the above described equation (1).
  • Fig. 6b shows a finer-detail flowchart of the "get first factor set" procedure B mentioned in the flowchart in Fig. 6a.
  • Fig. 6c shows a finer-detail flowchart of the "get next factor set" procedure C mentioned in the flowchart in Fig. 6a.
  • Fig. 7 illustrates a diagram of an example of the vendor user interface provided by the configurable computer trading system according to the present invention.
  • the vendor user can create/edit products; create/edit price factors; and create/edit mathematical relation, so as to setup the data structures in the object relational structure, as described above.
  • the data structures created by vendor interface are ultimately used by the customer user interface, which will be described in detail below.
  • Fig. 8 illustrates a diagram of an example of the customer user interface provided by the configurable computer trading system according to the present invention.
  • the customer is presented with a list of products to choose from, and various price factors wliich affect the overall price of the order.
  • the number of price factors is dependent on the data input by the vendor in the vendor user interface.
  • the customer user interface uses technology inside the browser in order to perform an instant price quote when the customer selects the product and the factor options required by the order. After the customer selects the product and the options of the respective the price factors, a derived price or an instant price quote is provided based on the factors and their pre-determined mathematical relation.
  • the User's company produces Orange Juice and delivers to customers. There are different factors that affect the price.
  • the table below shows how user reflects the price based on the factors.
  • the user inputs these data into this system with the vendor user interface, and the system stores this information in the database as bellow.
  • the trading system automatically creates in the data base all the combinations available based on specified factors and each of the records will be with the price resulted from value tied to each factor.
  • the following is the record set produced: Table 6
  • the configurable electronic trading system of the present invention allows a trader to enter offers more rapidly, and allowing a customer user to change his selection on the terms and get changed offers with a new price from the vendor instantly, in other words, advantageously, the present invention adds a level of sophistication to the conventional trading system and allows the users to handle the offer data more efficiently. Therefore, the efficiency of the trading system according to the present invention is increased, and it is more convenient and time-saving for the users including sellers and buyers to use this system.

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  • Business, Economics & Management (AREA)
  • Accounting & Taxation (AREA)
  • Finance (AREA)
  • Engineering & Computer Science (AREA)
  • Development Economics (AREA)
  • Economics (AREA)
  • Marketing (AREA)
  • Strategic Management (AREA)
  • Technology Law (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • General Physics & Mathematics (AREA)
  • Theoretical Computer Science (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

L'invention concerne un système de commerce électronique et un procédé associé, ledit système est exploité par une pluralité d'utilisateurs et comprend un réseau d'ordinateurs; une base de données équipant ledit réseau d'ordinateurs; un organe de réception de données comprenant des informations sur les produits, les facteurs déterminant le prix et un ensemble d'options de facteurs de prix pour chaque entrée spécifiée de facteur de prix effectuée par un utilisateur autorisé et permettant de mémoriser lesdites données dans ladite base de données; un organe de récupération desdites données comprenant des informations sur les produits, les facteurs de prix et les options de facteurs de prix dans la base de données et de traitement desdites données selon le rapport mathématique prédéterminé de manière à créer de multiples offres uniques dans ladite base de données et un organe de réception d'une autre sélection effectuée par l'utilisateur concernant les options de facteurs de prix des facteurs de prix respectifs et de transfert vers un autre utilisateur d'une offre correspondante à partir des multiples offres uniques répertoriées dans la base de données. Ce système et ce procédé permettent à un commerçant de proposer des offres plus rapidement et permettent à un utilisateur client de modifier sa sélection et d'obtenir des offres modifiées avec un nouveau prix proposé par le vendeur instantanément, ce qui est très pratique pour les utilisateurs.
PCT/CN1997/000128 1997-11-17 1997-11-17 Systeme de commerce electronique configurable et procede associe Ceased WO1999026173A1 (fr)

Priority Applications (2)

Application Number Priority Date Filing Date Title
AU50466/98A AU5046698A (en) 1997-11-17 1997-11-17 A configurable electronic trading system and the method therefor
PCT/CN1997/000128 WO1999026173A1 (fr) 1997-11-17 1997-11-17 Systeme de commerce electronique configurable et procede associe

Applications Claiming Priority (1)

Application Number Priority Date Filing Date Title
PCT/CN1997/000128 WO1999026173A1 (fr) 1997-11-17 1997-11-17 Systeme de commerce electronique configurable et procede associe

Publications (1)

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WO1999026173A1 true WO1999026173A1 (fr) 1999-05-27

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WO (1) WO1999026173A1 (fr)

Cited By (13)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US7155410B1 (en) 1999-08-03 2006-12-26 Woodmansey Robert J Systems and methods for linking orders in electronic trading systems
US7711640B2 (en) 2005-12-20 2010-05-04 Bgc Partners, Inc. Methods and apparatus for composite trading order processing
US7711644B2 (en) 2005-12-20 2010-05-04 Bgc Partners, Inc. Apparatus and methods for processing composite trading orders
US7865424B2 (en) * 2000-05-08 2011-01-04 Option It, Inc. Method and system for reserving future purchases of goods and services
US7917423B2 (en) 2000-01-06 2011-03-29 Bgc Partners, Inc. Systems and methods for monitoring credit of trading counterparties
US8255314B2 (en) 2004-09-13 2012-08-28 Bgc Partners, Inc. Electronic completion of cash versus futures basis trades
US8930260B2 (en) 2000-05-08 2015-01-06 Smart Options, Llc Method and system for reserving future purchases of goods and services
US9026471B2 (en) 2000-05-08 2015-05-05 Smart Options, Llc Method and system for reserving future purchases of goods and services
US9026472B2 (en) 2000-05-08 2015-05-05 Smart Options, Llc Method and system for reserving future purchases of goods and services
US9047634B2 (en) 2000-05-08 2015-06-02 Smart Options, Llc Method and system for reserving future purchases of goods and services
US9064258B2 (en) 2000-05-08 2015-06-23 Smart Options, Llc Method and system for reserving future purchases of goods and services
US9070150B2 (en) 2000-05-08 2015-06-30 Smart Options, Llc Method and system for providing social and environmental performance based sustainable financial instruments
US9092813B2 (en) 2000-05-08 2015-07-28 Smart Options, Llc Method and system for reserving future purchases of goods and services

Citations (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
EP0762305A2 (fr) * 1995-09-01 1997-03-12 Fujitsu Limited Appareil et méthode pour la vente d'articles
CN1147308A (zh) * 1994-03-23 1997-04-09 悉尼H·贝尔兹伯格 计算机化的股票交易系统

Patent Citations (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
CN1147308A (zh) * 1994-03-23 1997-04-09 悉尼H·贝尔兹伯格 计算机化的股票交易系统
EP0762305A2 (fr) * 1995-09-01 1997-03-12 Fujitsu Limited Appareil et méthode pour la vente d'articles

Cited By (27)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US7155410B1 (en) 1999-08-03 2006-12-26 Woodmansey Robert J Systems and methods for linking orders in electronic trading systems
US10055787B2 (en) 1999-08-03 2018-08-21 Bgc Partners, Inc. Systems and methods for linking orders in electronic trading systems
US8732069B2 (en) 2000-01-06 2014-05-20 Bgc Partners, Inc. Systems and methods for monitoring credit of trading counterparties
US10776866B2 (en) 2000-01-06 2020-09-15 Bgc Partners, L.P. System and methods for monitoring credit of trading counterparties
US8271376B2 (en) 2000-01-06 2012-09-18 Bgc Partners, Inc. Systems and methods for monitoring credit of trading counterparties
US7917423B2 (en) 2000-01-06 2011-03-29 Bgc Partners, Inc. Systems and methods for monitoring credit of trading counterparties
US8930260B2 (en) 2000-05-08 2015-01-06 Smart Options, Llc Method and system for reserving future purchases of goods and services
US9026472B2 (en) 2000-05-08 2015-05-05 Smart Options, Llc Method and system for reserving future purchases of goods and services
US20120078698A1 (en) * 2000-05-08 2012-03-29 Option It, Inc. Method and system for reserving future purchases of goods and services
US8229841B2 (en) * 2000-05-08 2012-07-24 Smart Options, Llc Method and system for reserving future purchases of goods and services
US8032447B2 (en) * 2000-05-08 2011-10-04 Option It, Inc. Method and system for reserving future purchases of goods and services
US9070150B2 (en) 2000-05-08 2015-06-30 Smart Options, Llc Method and system for providing social and environmental performance based sustainable financial instruments
US7865424B2 (en) * 2000-05-08 2011-01-04 Option It, Inc. Method and system for reserving future purchases of goods and services
US9064258B2 (en) 2000-05-08 2015-06-23 Smart Options, Llc Method and system for reserving future purchases of goods and services
US9047634B2 (en) 2000-05-08 2015-06-02 Smart Options, Llc Method and system for reserving future purchases of goods and services
US9092813B2 (en) 2000-05-08 2015-07-28 Smart Options, Llc Method and system for reserving future purchases of goods and services
US9026471B2 (en) 2000-05-08 2015-05-05 Smart Options, Llc Method and system for reserving future purchases of goods and services
US8255314B2 (en) 2004-09-13 2012-08-28 Bgc Partners, Inc. Electronic completion of cash versus futures basis trades
US11188982B2 (en) 2004-09-13 2021-11-30 Bgc Partners, Inc. Electronic completion of cash versus futures basis trades
US8571970B2 (en) 2004-09-13 2013-10-29 Bgc Partners, Inc. Electronic completion of cash versus futures basis trades
US10387955B2 (en) 2004-09-13 2019-08-20 Bgc Partners, Inc. Electronic completion of cash versus futures basis trades
US7921056B2 (en) 2005-12-20 2011-04-05 Bgc Partners, Inc. Processing composite trading orders
US8494952B2 (en) 2005-12-20 2013-07-23 Bgc Partners, Inc. System and method for processing composite trading orders
US7873565B2 (en) 2005-12-20 2011-01-18 Bgc Partners, Inc. Composite trading order processing
US10692142B2 (en) 2005-12-20 2020-06-23 Bgc Partners, Inc. System and method for processing composite trading orders
US7711644B2 (en) 2005-12-20 2010-05-04 Bgc Partners, Inc. Apparatus and methods for processing composite trading orders
US7711640B2 (en) 2005-12-20 2010-05-04 Bgc Partners, Inc. Methods and apparatus for composite trading order processing

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