Abstract: A computer system for executing transactions in a financial market, the system including: (a) a price calculator for calculating blended pricing data from source pricing data received from one or more pricing sources which are independent of any parties to the transaction, the blended pricing data representing a blended bid and blended offer; (b) an automatic transaction processor for automatically executing transactions between a broker-controlled account and an account owned by a predetermined independent market entity based on transaction data generated by a broker-controlled computing apparatus using the blended pricing data; and a pricing data feed handler in communication with the price calculator for transmitting the blended pricing data to the broker-controlled computing apparatus.

Abstract: A system for trading a physical commodity that is geographically dispersed or of variable quality, the system including: a market maker component operative to maintain price data representing a buy price and a sell price for trading the commodity being constant with respect to: (i) the pickup and delivery locations of the commodity if the commodity is geographically dispersed; and (ii) the quality of the commodity if the commodity has two or more quality levels; and a trading component operative to receive offer data representing buy and sell offers from a plurality of buyers and sellers of the commodity, the trading component being configured to match each of at least a portion of the buy and sell offers with a corresponding one of the buy price and sell price to execute over-the-counter trades in the commodity with the market maker component.