Abstract: An online ASP-managed system for web-based peer-to-peer book exchanges and, particularly, used text book exchange transactions. The system employs a software method by which a plurality of users subscribe, and it maintains a trade point account “checkbook” for each subscribed user. Multiple users enter a textbook ISBN number of one or more books that they need, and multiple users enter information regarding one or more books that they have to exchange (the latter including ISBN number and condition). The system assigns an equivalent trade point value (TPV) to each of the books available for exchange, the TPV being calculated as a predetermined fraction of an existing retail price factored in accordance with the condition of the book, and by a relative supply versus demand for said book. The system compares the ISBN numbers of books needed with books available for exchange and facilitates an exchange transaction provided that the user that needs the book has a positive trade point balance.