Abstract: The present disclosure provides systems and methods for conducting a variable quantity auction. A seller may determine a quantity range of items to be sold and a reserve price for acceptable bids. The auction may proceed in two phases. In a first phase, bidders bid on a quantity of items at a price that is at least the reserve price. In various embodiments, the first phase may be used to determine the total number of items to be sold in a second phase. In the second phase a price for the fixed quantity of items may be determined. In various embodiments, the second phase may proceed as a typical second item auction in which bidders may modify their bids until the end of the auction. The winning bidders may only pay for their items at the lowest qualifying bid.

Abstract: An online auction process for derivative securities is used to determine a fair market value of an asset or benefit provided to others, such as employee stock options. In one embodiment, the derivative securities track the intrinsic value realized by employees when exercising the employee stock options granted to them by their employers. The derivative securities may include rules for handling modifications to an employee stock option grant and/or rules for handling forfeitures of some or all of the employee stock options.

Abstract: An online auction process for derivative securities is used to determine a fair market value of an asset or benefit provided to others, such as employee stock options. In one embodiment, the derivative securities track the intrinsic value realized by employees when exercising the employee stock options granted to them by their employers. The derivative securities may include rules for handling modifications to an employee stock option grant and/or rules for handling forfeitures of some or all of the employee stock options.

Abstract: An online auction process for derivative securities is used to determine a fair market value of an asset or benefit provided to others, such as employee stock options. In one embodiment, the derivative securities track the intrinsic value realized by employees when exercising the employee stock options granted to them by their employers. The derivative securities may include rules for handling modifications to an employee stock option grant and/or rules for handling forfeitures of some or all of the employee stock options.