20130138548 | METHOD, APPARATUS, AND COMPUTER PROGRAM PRODUCT FOR IMPLEMENTING AN EXCHANGE FOR FUNGIBLE ASSETS - A method, apparatus and computer program product are provided for implementing an exchange for fungible assets. A method aspect includes receiving a plurality of sell orders for the fungible asset, each sell order having a quantity for sale and a per unit selling price, and receiving a plurality of buy orders for the fungible asset, each buy order having a quantity wanted for purchase and a per unit buying price. The buy and sell orders are posted on an exchange. Buy and sell orders are then matched upon expiration of a time period, wherein the time period is determined as a function of at least buy and sell order parameters, and a clearing price is determined from the matched buy and sell orders so as to maximize the quantity of the fungible asset traded upon execution of trades of the matched buy and sell orders. | 05-30-2013 |