Abstract: In a commodities trading method, a specification is received from a potential buyer of at least one of a plurality of parameters characterizing tradable commodities of a common class. A database of commodity parameters is automatically or electronically searched to locate particular commodities having the specified parameter. Upon completion of the search or in response to the search results, identifications of all particular commodities having the specified parameter are provided to the potential buyer.

Abstract: In a method for enabling trading in tradable commodities, an activity rule and a quotation for a reserve price on a tradable commodity are received from a first market participant, the activity rule specifying when receipt of quotes from second market participants for the tradable commodity is to be terminated. After receiving of the quotation and the activity rule from the first market participant, quotes are received from the second market participants regarding the tradable commodity. The receipt of quotes is automatically terminated, pursuant to the activity rule. Subsequently, a best one of the quotes meeting the reserve price is selected, and a trade with the second market participant who placed the best quote is closed, the trade including an effective exchange of the tradable commodity. A plurality of auctions and reverse auctions may be simultaneously monitored, facilitated and executed by a system implementing the method.