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The Goldman, Sachs & Co. patent solves the following problem:
A system of risk management that was described where an e-commerce participant have relevant sales information, as requested in the purchase price, the current campaign, the highest bid, and others shown in the currency local e-commerce participants. It also provided that the information shown is formulated using a base currency, and an exchange rate relative to the base currency. They know that either the base currency or the exchange prices fluctuate, then the price of the information shown in the local currency to the e-commerce participant also fluctuate. If the price information is displayed in real time, such fluctuations cause shown that information too often, perhaps always. Such a display is not fit to complete business transactions. Frequent changes in the price performance may disquiet for e-commerce participants, and make it difficult for e-commerce participant to ensure that the various options are most favorable. Therefore, it is desirable to have a system of risk management that eliminates at least some of the fluctuations in prices.
Our analysis of this patent is as follows:
Goldman, Sachs & Co.’s patent US 6829590 B1 deals with Enhanced online sales risk management system.
The present invention provides a method and system for implementing the risk management of foreign exchange currency related to an online transaction. According to the present invention in an exchange price and a standard tolerance can be determined for a foreign currency as the foreign currency related to a base currency. A computer system will receive a price associated with a market price for the exchange of foreign currency and compare the prices of basic endurance. The system can also exchange price or spot price exceeds the tolerance standard. Furthermore, the system receives information including the amount of base currency involved in an online transaction and shipment of the base amount currency and the amount of foreign currency, where the amount of foreign currency earned according to the exchange rate. If desired, a first tolerance standard and a second tolerance standard may be used, where a rise in the spot price is compared with the first foundations of tolerance and a fall in the spot price is compared with the second rock Brook. Furthermore, the magnitude of the first standard tolerance need not be as great the second standard tolerance. A rise in the spot price can be compared on the basis of tolerance as the exchange price that changed when the spot price is higher than the standard tolerance. Similarly, only a fall in the price can be compared on the basis of tolerance as the exchange price that changed when the spot price is lower than the standard tolerance. Moreover, in some places the price will be determined and compared to the tolerance for predetermined periods of time. An original-tolerance can be modified to create a new level of tolerance, when the spot price exceeds the original tolerance.
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