Process: Close auction

 

Flow

Legend

 

Objective

To close an auction.

 

Description

The auction is closed to further bids when the auction is either forced to close, or when the closing condition of the auction is met.

After the auction is closed, its status changes to "Bidding Closed". It will not accept any bids after this time. However, the status of the already submitted bids will remain in "Active" status.

The auction is changed to "Settlement Closed" state by the scheduler after it is closed. When the auction status changes to "Settlement Closed", the winner is determined.

Winners for Open Cry and Sealed Bid auctions are determined based upon the parameters in this order:

1. Bid price per quantity

2. Bid quantity

3. Bid submission time.

Winners for Dutch auctions are determined based upon the parameters in this order:

1. Bid submission time

2. Bid quantity.

When the winners are determined, an auction notification message is produced to inform customers that they submitted a winning bid.

When an auction ends, the winners automatically receive messages informing them of the results. If the recipient does not read the message within a certain time period, an e-mail message with the same contents as the unread message is sent.

 

Features

 

Edition

Professional, Enterprise, Express

 

Tasks

Task Description Role
Finalize auction

Retrieve all Bidding Closed auctions and determine the winners of auctions.

 System
Force-close auction

Close the bidding for an auction manually.

 Seller
Time to close auction automatically

Close the bidding for an auction when it is time to close.

 System

 

Business artifacts

Feedback

(C) Copyright IBM Corporation 1996, 2006. All Rights Reserved.