Distributed Exchange System for Multi-Broker Ticket Transactions
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Solution Overview
Problem
Current systems lack an efficient method for automating the management of e-commerce transactions, particularly for date-specific tickets and services, which require real-time processing and involve handling large amounts of data across multiple broker inventories and markets.
Innovation Solution
A distributed network system with a central exchange computer linked to multiple customer/vendor systems, allowing for flexible transaction rules, integration with shipping and bookkeeping systems, and enabling real-time and non-real-time ticket transactions, as well as broker-to-broker transactions, with features like ticket grouping and pricing management.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Speed
If a distributed network system with central exchange computer is implemented to manage transactions across multiple broker affiliates, then transaction processing speed and real-time capability are improved, but system complexity and data handling requirements increase
Solution Approach 1:
The system divides the transaction management function into a central exchange computer that handles core matching and allocation logic, while individual broker affiliate computers handle local inventory management and customer interactions. This segmentation allows real-time processing at the central level while keeping individual broker systems relatively simple.
Solution Approach 2:
The central exchange computer acts as an intermediary between multiple broker affiliates, receiving transaction requests, applying market rules, and distributing results. This mediator approach enables standardized real-time processing across the network without requiring complex peer-to-peer coordination between brokers.
2Adaptability or versatility
If flexible redefinable rules are implemented to govern various aspects of transactions, then adaptability to different market conditions and broker needs is improved, but system complexity increases
Solution Approach 1:
The system implements dynamic, redefinable rules that can be adjusted based on market conditions, event types, and broker preferences. Rules governing transaction matching, pricing, and allocation can be modified without requiring system redesign, allowing the exchange to adapt to different sports and entertainment markets while maintaining a consistent technical platform.
3Productivity
If broker-to-broker transactions are enabled to fulfill customer requests, then customer service capability and market efficiency are improved, but data handling requirements and transaction management complexity increase
Solution Approach 1:
The system enables broker affiliates to perform multiple functions: they can sell tickets from their own inventory, purchase tickets from other brokers, and fulfill customer requests using either source. This universal capability allows any broker to act as both buyer and seller, increasing market efficiency and customer service options while the central exchange manages the complexity of coordinating these transactions.
Data Source
AI summary
A distributed network transaction system and method includes a central exchange computer connected via the Internet (world wide web) to multiple remote computers associated with, for example, individual brokers. A central database is provided with the exchange computer and each remote computer can have a respective database for information that the individual brokers was to maintain separate from the system. E-commerce transactions are conducted by the system, which performs a number of transaction-related functions, such as pushing tickets up to the system for sale, purchasing tickets online, shipping, web site-related and bookkeeping. The system and methodology accommodate price event functions where non real-time tickets can be sold and the orders filled with tickets acquired on the system.