PRICING CENTER FOR INTERNET PROTOCOL ROUTED TRANSACTIONS

A call pricing center that assists Internet Protocol (IP)-compatible devices in defining preferences, including prices, for completing an IP routed transaction. A centralized routing engine associated with a clearinghouse uses the preferences to assist IP devices in making routing decisions. The pricing center provides IP network operators and retail IP telephony gateway operators with significant flexibility by allowing them to designate preferences and preference criteria. A source gateway operator may set preferences such as the maximum price that it is willing to paid for a call, the maximum delay that will be tolerated and the maximum autonomous system hop count that will be tolerated. A destination gateway operator may also set preferences relating to the prices it will charge for terminating calls. Using preference criteria, a gateway operator may specify particular times call prices are to be effective and to what called number ranges they are to be applied. Based on such preferences and preference criteria, the routing engine is able to locate destination gateways that are eligible to terminate a voice over telephony IP call. The routing engine provides a prioritized list of eligible destination gateways to the source gateway. The source gateway then works through the prioritized list and attempts to set up the IP telephony call with each eligible destination gateway, until the call is established.