A bank-to-customer commodity forward trading system and trading method

Abstract

The embodiment of the present application provides a bank-to-customer commodity forward trading system and trading method, which can be applied in the field of data processing technology to improve the efficiency of forward trading and save human resource costs. It includes: a client, a bank trading system and a futures exchange system. The bank trading system is used to receive a first trading order sent by the client, generate a second trading order based on the first trading order, and send the second trading order to the futures exchange system; the futures exchange system is used to process the second trading order based on the first trading rules when a target trading order exists in the exchange, complete the transaction between the bank and the target trading order, and feedback the transaction details to the bank trading system; the bank trading system is also used to process the first trading order based on the second trading rules when receiving the transaction details feedback from the futures exchange system, complete the transaction between the bank and the customer, and feedback the transaction details to the client.

Description

Technical Field

[0001] The present invention relates to the field of data processing technology, and in particular to a bank-to-customer commodity forward trading system and trading method. Background Art

[0002] Currently, there are two main ways for customers to conduct commodity forward transactions: through banks and through futures exchanges. The process for customers to trade through futures exchanges is as follows:

[0003] (1) The client opens an account with a futures company and establishes a futures margin account;

[0004] (2) Customers use the futures company's professional futures trading software to view the market prices of various futures contracts on the exchange;

[0005] (3) The client selects the target contract based on his or her own trading needs and places an order on the exchange based on market conditions and the price he or she desires.

[0006] Among them, the execution of customer orders (or also known as pending orders), fund delivery, margin monitoring, etc. are all handled by the exchange system in accordance with the exchange's on-site trading rules. Therefore, customers can only trade standard contracts and need to clear funds according to the exchange's daily zero-debt settlement system. This places high demands on customer fund liquidity. Once the margin paid by the customer fails to meet the exchange's minimum margin requirements, there is a risk of immediate forced liquidation by the exchange. Therefore, many customers choose to conduct forward transactions through banks. The process for customers to conduct forward transactions through banks is as follows:

[0007] (1) The customer submits transaction intentions and inquiries to the bank, usually through the bank branch to the financial market transaction department of the head office;

[0008] (2) The bank inquires about the price of the counterparty in the financial market. After confirming the counterparty and transaction price in the market, it makes a price adjustment and then quotes the price to the customer;

[0009] (3) If the customer accepts the quotation, the transaction is confirmed with the bank. If the customer does not accept the quotation, the above inquiry process is initiated again later.

[0010] (4) After the customer and the bank confirm the transaction, the bank and the counterparty determined in the market confirm the transaction to balance the bank-to-customer transaction.

[0011] When customers conduct forward transactions through banks, they are doing so based on the bank's policies, which place low demands on customer liquidity. However, current forward transactions conducted through banks require a price inquiry process, where the customer inquires with the bank, and the bank then inquires with the external market. This prevents customers from receiving immediate market quotes and requires them to wait for the bank's response. If the price is unsuitable, they must re-initiate the inquiry process, resulting in low transaction efficiency. Furthermore, the bank's trading department must manually complete the settlement process with counterparties in the financial market, requiring significant time and manpower. Summary of the Invention

[0012] The embodiments of the present application provide a bank-to-customer commodity forward trading system and trading method for improving forward trading efficiency and saving human resource costs.

[0013] In a first aspect, a bank-to-customer commodity forward trading system is provided, comprising: a client, a bank trading system, and a futures exchange system, wherein the bank trading system is connected to the futures exchange system and the client; wherein:

[0014] The bank trading system is configured to receive a first transaction order sent by the client for a transaction with the bank, generate a second transaction order based on the first transaction order for the bank to trade with a counterparty in the exchange, and send the second transaction order to the futures exchange system; wherein the first target transaction price included in the first transaction order and the second transaction order is the same;

[0015] The futures exchange system is configured to, when a target trading order exists on the exchange at the same transaction price as the first target trading price, process the second trading order based on a first trading rule, complete the bank's transaction on the futures exchange, and provide feedback of transaction details to the bank's trading system; wherein the target trading order and the second trading order are in opposite transaction directions, and the first trading rule is a trading rule established by the exchange;

[0016] The bank trading system is further configured to process the first trading order based on second trading rules upon receiving the transaction details fed back by the futures exchange system, complete the transaction between the bank and the customer, and feed back the transaction details to the client; wherein the second trading rules are trading rules formulated by the bank.

[0017] Optionally, the bank transaction system is further used to:

[0018] Obtain futures market quotation information from the futures exchange system, and send the market quotation information to the client;

[0019] The client is further configured to display the market quotation information so that the client can determine a transaction target based on the market quotation information.

[0020] Optionally, the client is further used to query transaction details fed back by the bank transaction system.

[0021] Optionally, the first transaction order and the second transaction order further include a first target transaction quantity, and the futures exchange system is specifically configured to:

[0022] Determining a second target transaction quantity that can be executed for the second transaction order according to the exchange's on-site matching rules;

[0023] If the first target transaction quantity is greater than the second target transaction quantity, processing the second transaction order based on the second target transaction quantity and the first target transaction price;

[0024] If the first target transaction quantity is equal to the second target transaction quantity, the second transaction order is processed based on the first target transaction quantity and the first target transaction price.

[0025] Optionally, the transaction details fed back by the futures exchange system include actual transaction quantities, and the bank transaction system is further used to:

[0026] Upon receiving the transaction details fed back by the futures exchange system, calculating a second target transaction price for the transaction with the client based on a pre-set handling fee spread and funding cost; wherein the funding cost is the interest corresponding to the difference between the margin paid by the client to the bank and the margin paid by the bank at the futures exchange, where the margin paid by the client to the bank is lower than the margin paid by the bank at the futures exchange;

[0027] The first transaction order is processed based on the actual transaction quantity and the second target transaction price.

[0028] Optionally, the bank transaction system is further used to:

[0029] Obtaining the customer's bank data and credit information, conducting a risk assessment on the customer based on the bank data and credit information, and determining the customer's credit limit;

[0030] The margin and credit limit to be occupied are determined and occupied based on the preset customer risk management rules; wherein the margin is the margin paid by the customer to the bank.

[0031] Optionally, the first transaction rule and the second transaction rule further include a funds delivery method, and the funds delivery method in the first transaction rule is different from the funds delivery method in the second transaction rule. The bank transaction system is further configured to:

[0032] Determining the delivery date of the first transaction order;

[0033] When the current date is the delivery date, the funds delivery between the bank and the customer is completed based on the funds delivery method in the first transaction rules.

[0034] In a second aspect, a bank-to-customer commodity forward trading method is provided, which is applied to a bank-to-customer commodity forward trading system. The bank-to-customer commodity forward trading system includes: a client, a bank trading system, and a futures exchange system. The bank trading system is connected to the futures exchange system and the client. The method includes:

[0035] receiving, through the bank trading system, a first transaction order sent by the client for a transaction with the bank, generating, based on the first transaction order, a second transaction order for the bank to trade with a counterparty in the exchange, and sending the second transaction order to the futures exchange system; wherein the first target transaction price included in the first transaction order and the second transaction order is the same;

[0036] determining, through the futures exchange system, whether there is a target trading order in the exchange with a transaction price that is the same as the first target transaction price; and if it is determined that the target trading order exists, processing the second trading order based on the first trading rule to complete the bank's transaction in the futures exchange, and feeding back transaction details to the bank's trading system; wherein the target trading order and the second trading order have opposite transaction directions, and the first trading rule is a trading rule established by the exchange;

[0037] The bank's trading system receives the transaction details fed back by the futures exchange system. Upon receiving the transaction details fed back by the futures exchange system, the bank processes the first transaction order based on the second trading rules to complete the transaction between the bank and the customer, and feeds back the transaction details to the client. The second trading rules are the trading rules formulated by the bank.

[0038] Optionally, before receiving, through the bank transaction system, the first transaction order for a transaction with a bank sent by the client, the method further includes:

[0039] Obtaining futures market quotation information from the futures exchange system through the bank transaction system;

[0040] Sending the market quotation information to the client;

[0041] The market quotation information is displayed through the client, so that the customer can determine a transaction target based on the market quotation information.

[0042] Optionally, the method further includes:

[0043] The transaction details fed back by the bank transaction system are queried through the client.

[0044] Optionally, the first transaction order and the second transaction order further include a first target transaction quantity, and the processing of the second transaction order includes:

[0045] Determining a second target transaction quantity that can be executed for the second transaction order according to the exchange's on-site matching rules;

[0046] If the first target transaction quantity is greater than the second target transaction quantity, processing the second transaction order based on the second target transaction quantity and the first target transaction price;

[0047] If the first target transaction quantity is equal to the second target transaction quantity, the second transaction order is processed based on the first target transaction quantity and the first target transaction price.

[0048] Optionally, the transaction details fed back by the futures exchange system include actual transaction quantity, and the processing of the first transaction order includes:

[0049] Calculating a second target transaction price for the transaction with the client based on a pre-set commission spread and funding cost; wherein the funding cost is the interest corresponding to the difference between the margin paid by the client at the bank and the margin paid by the bank at the futures exchange, where the margin paid by the client at the bank is lower than the margin paid by the bank at the futures exchange;

[0050] The first transaction order is processed based on the actual transaction quantity and the second target transaction price.

[0051] Optionally, the method further includes:

[0052] Obtaining the customer's bank data and credit information data through the bank transaction system;

[0053] Conducting a risk assessment on the customer based on the bank data and credit information data to determine the customer's credit limit;

[0054] The margin and credit limit to be occupied are determined and occupied based on the preset customer risk management rules; wherein the margin is the margin paid by the customer to the bank.

[0055] Optionally, the first transaction rule and the second transaction rule further include a funds delivery method, and the funds delivery method in the first transaction rule is different from the funds delivery method in the second transaction rule. The method further includes:

[0056] Determining the delivery date of the first transaction order through the bank transaction system;

[0057] When the current date is the delivery date, the funds delivery between the bank and the customer is completed through the bank transaction system based on the funds delivery method in the first transaction rules.

[0058] According to a third aspect, an electronic device is provided, including:

[0059] a memory for storing program instructions;

[0060] The processor is used to call the program instructions stored in the memory and execute the steps included in the method described in the second aspect according to the obtained program instructions.

[0061] According to a fourth aspect, a computer-readable storage medium is provided, wherein the computer-readable storage medium is used to store instructions, and when the instructions are executed, the method described in the second aspect is implemented.

[0062] In a fifth aspect, a computer program product comprising instructions is provided. The computer program product stores instructions that, when executed on a computer, cause the computer to execute the method described in the second aspect.

[0063] In an embodiment of the present application, a bank-to-customer commodity forward trading system includes a client, a bank trading system, and a futures exchange system, wherein the bank trading system is connected to the client and the futures exchange system, respectively. The bank trading system is used to receive a first trading order sent by the client for trading with the bank, generate a second trading order for trading between the bank and a counterparty in the exchange based on the first trading order (the first target trading price contained in the first trading order and the second trading order is the same), and send the second trading order to the futures exchange system. When the futures exchange system receives the second trading order sent by the bank trading system, it determines whether there is a target trading order in the exchange with the same trading price as the first target trading price. If so, the second trading order is processed based on the trading rules established by the exchange (i.e., the first trading rules), completes the bank's transaction on the futures exchange, and feedbacks the transaction details to the bank trading system. When the bank trading system receives the transaction details feedback from the futures exchange system, it processes the first trading order based on the trading rules established by the bank (i.e., the second trading rules), completes the transaction between the bank and the customer, and feedbacks the transaction details to the client.

[0064] In other words, this application is connected to the client and futures exchange system through the bank's trading system, and can automatically generate trading orders for the bank to trade on the exchange according to the customer's instructions, and process the customer's entrusted transactions according to the trading results on the exchange, and feedback the transaction details to the client. The transaction efficiency is high, and there is no need for the bank's trading department to manually find counterparties in the external market to close the market, which effectively saves human resource costs. BRIEF DESCRIPTION OF THE DRAWINGS

[0065] In order to more clearly illustrate the embodiments of the present application or the technical solutions in the prior art, the following briefly introduces the drawings required for describing the embodiments. Obviously, the drawings described below are only some embodiments of the present application.

[0066] Figure 1 A schematic diagram of the structure of a bank-to-customer commodity forward trading system provided in an embodiment of the present application;

[0067] Figure 2 A flow chart of a bank-to-customer commodity forward transaction method provided in an embodiment of the present application;

[0068] Figure 3 A schematic diagram of the structure of an electronic device provided in an embodiment of the present application. DETAILED DESCRIPTION

[0069] In order to make the purpose, technical solutions and advantages of the present application clearer, the technical solutions in the embodiments of the present application will be clearly and completely described below in conjunction with the drawings in the embodiments of the present application. Obviously, the described embodiments are only part of the embodiments of the present application, rather than all of the embodiments. Based on the embodiments in the present application, all other embodiments obtained by ordinary technicians in this field without making creative work are within the scope of protection of this application. In the absence of conflict, the embodiments in the present application and the features in the embodiments can be combined with each other in any way. In addition, although a logical order is shown in the flow chart, in some cases, the steps shown or described can be performed in an order different from that here.

[0070] The terms "first" and "second" in the specification and claims of this application and the above-mentioned drawings are used to distinguish different objects, rather than to describe a specific order. In addition, the term "comprising" and any of its variations are intended to cover non-exclusive protection. For example, a process, method, system, product or device that includes a series of steps or units is not limited to the listed steps or units, but optionally also includes steps or units that are not listed, or optionally also includes other steps or units inherent to these processes, methods, products or devices. "Multiple" in this application can mean at least two, for example, two, three or more, and the embodiments of this application are not limited thereto.

[0071] In addition, the term "and / or" in this document simply describes an association between related objects, indicating that three possible relationships exist. For example, "A and / or B" can represent: A exists alone, A and B exist simultaneously, or B exists alone. Furthermore, the character " / " in this document, unless otherwise specified, generally indicates an "or" relationship between the related objects.

[0072] To facilitate understanding, the technical background of the embodiments of the present invention is introduced below through specific implementation methods.

[0073] Customer A intends to conduct a European forward transaction with Bank B to buy 1,000 tons of Shanghai copper. The customer submits the transaction intention and quotation request to the head office through the bank branch.

[0074] After the head office receives the customer's transaction application, it needs to close the 1,000 tons of Shanghai copper forward sales exposure generated by the customer transaction, that is, buy 1,000 tons of Shanghai copper forward to avoid the risks of future price fluctuations. Therefore, the bank will look for a counterparty in the financial market to close the position, or select the Shanghai copper futures contract with the delivery date closest to the customer's forward transaction demand from the tradable contracts on the futures exchange (such as the Shanghai Futures Exchange) to close the position.

[0075] Taking the example of a bank looking for a counterparty to close a position, Bank B issues a transaction inquiry in the market to buy 1,000 tons of forward Shanghai copper (the subject matter, transaction volume, and delivery date are the same as those of the customer transaction, but the transaction direction is opposite). Assuming that counterparty C quotes 71,790 yuan / ton for the transaction, the bank, based on internal policies and transaction cost calculations, adds a spread of 10 yuan / ton to counterparty C's quotation, forming a customer quotation of 71,800 yuan / ton, and replies to customer A.

[0076] After receiving the quote from Bank B, if the price meets the customer's needs, Customer A accepts the price and confirms the transaction with Bank B (a).

[0077] Transaction (a):

[0078] Trading products: Shanghai Futures Exchange's Shanghai Copper

[0079] Transaction direction: Customer A buys, Bank B sells

[0080] Transaction volume: 1,000 tons

[0081] Transaction Type: European Forward

[0082] Trading date / delivery date: March 2, 2022 / September 2, 2022

[0083] Forward transaction price: 71,800 yuan / ton

[0084] After Bank B staff completes the review of transaction (a) and the implementation of the transaction risk guarantee, they initiate the transaction in the system, enter the customer information and detailed transaction information, and then confirm the transaction through the internal processes of the head office and branches in the system. The system will then conduct risk monitoring of the transaction throughout its life cycle and conduct settlement and delivery upon maturity.

[0085] At the same time, Bank B and Counterparty C confirm all elements of the flat-rate transaction, confirm the transaction (b) through a mutually agreed-upon offline method or a third-party trading platform, and sign documents such as the transaction confirmation and clearing and delivery agreement. Bank B and Counterparty C will then enter the transaction into their respective internal systems, which will subsequently monitor the transaction's lifecycle risk and conduct clearing and delivery upon maturity.

[0086] Transaction (b):

[0087] Trading products: Shanghai Futures Exchange's Shanghai Copper

[0088] Transaction direction: Bank B buys, counterparty C sells

[0089] Transaction volume: 1,000 tons

[0090] Transaction Type: European Forward

[0091] Trading date / delivery date: March 2, 2022 / September 2, 2022

[0092] Forward transaction price: 71790 yuan / ton

[0093] Before introducing the technical solutions provided in the embodiments of the present application, it should be noted that the acquisition, storage, use, and processing of customer bank data and credit data in the embodiments of the present application comply with the relevant provisions of national laws and regulations.

[0094] The following describes in detail the bank-to-customer commodity forward trading system provided in the embodiments of the present application and the bank-to-customer commodity forward trading method applied to the bank-to-customer commodity forward trading system in conjunction with the drawings of the specification.

[0095] See Figure 1 As shown, Figure 1 This is a schematic diagram of the structure of a bank-to-customer commodity forward trading system provided in an embodiment of the present application. The bank-to-customer commodity forward trading system includes: a client 101, a bank trading system 102, and a futures exchange system 103. The bank trading system 102 is connected to the client 101 and the futures exchange system 103 respectively; wherein:

[0096] The bank trading system 102 is configured to receive a first transaction order sent by the client 101 for a transaction with the bank, generate a second transaction order based on the first transaction order for the bank to trade with a counterparty in the exchange, and send the second transaction order to the futures exchange system 103; wherein the first target transaction price contained in the first transaction order and the second transaction order is the same;

[0097] The futures exchange system 103 is configured to, when a target trading order exists on the exchange at a price that is the same as a second target trading price, process the second trading order based on a first trading rule, complete the bank's transaction on the futures exchange, and provide feedback of the transaction details to the bank trading system 102; wherein the target trading order and the second trading order have opposite trading directions (for example, if the trading direction in the second trading order is a buy, the trading direction in the target trading order is a sell), and the first trading rule is a trading rule established by the exchange;

[0098] The bank transaction system 102 is also used to process the first transaction order based on the second transaction rules when receiving the transaction details fed back by the futures exchange system, complete the transaction between the bank and the customer, and feed back the transaction details to the client 101; wherein the second transaction rules are the transaction rules formulated by the bank.

[0099] In one possible implementation, after the bank transaction system 102 feeds back the transaction details to the client 101, the client can query the transaction details through the client 101. In other possible implementations, the client 101 can also provide the client with a comprehensive query function regarding its own transactions, positions, funds, risks, etc., including current pending order query, current position query, day transaction query, seven-day expiration transaction query, entrustment order query, full transaction details query, fund status query, approval order query, end-of-day settlement order query, etc. It should be noted that the client 101 provided in this application can be a client installed in a bank branch, or it can be the user's own terminal device (such as a mobile phone, computer, and tablet, etc.). When the client 101 is the user's own terminal device, the software application provided by the bank needs to be installed on the terminal device, and the customer implements the functions of the aforementioned client through the software application.

[0100] In one possible implementation, the bank trading system 102 may also obtain futures market quote information from the futures exchange system 103, and send the obtained market quote information to the client 101. The client 101 may display the market quote information, allowing the client to determine a trading target based on the market quote information. After determining the trading target, the client may perform trading operations such as placing orders (opening or closing orders), modifying orders, and canceling orders based on the client. The market quote information may, for example, include real-time multiple quotes from both buyers and sellers on the exchange floor for each futures contract and the corresponding quote volume, the latest transaction price on the floor, the opening price, the highest price, the lowest price, the previous closing price, and the previous settlement price. Trading targets may, for example, include the target trading product contract, the target transaction price, the target transaction quantity, and the target delivery date. Preferably, after obtaining the market quote information, the bank trading system 102 may also draw a candlestick chart based on the obtained market quote information, and send the drawn candlestick chart to the client 101. The client 101 may then display the market quote information as a candlestick chart. This allows the client to more intuitively understand the relevant information of each futures contract, enhancing the user experience.

[0101] As a possible implementation, in an embodiment of the present application, the first transaction order can be a transaction order for a client to buy a futures contract, or it can be a transaction order for a client to sell a futures contract. If the first transaction order is a transaction order for a client to buy a futures contract, then the second transaction order generated by the bank trading system based on the first transaction order for the bank to trade with the counterparty on the exchange (or it can also be called a transaction order generated by the bank trading system based on the first transaction order for the bank on the exchange) has a transaction direction of buy. If the first transaction order is a transaction order for a client to sell a futures contract, then the transaction direction of the transaction order generated by the bank trading system based on the first transaction order for the bank on the exchange has a transaction direction of sell. In the following embodiments, the first transaction order is described as a transaction information in which the client buys a futures contract.

[0102] In one possible implementation, the first transaction order and the second transaction order also include a first target transaction quantity (i.e., the bank generates an order on the exchange based on the first transaction order, which includes the first target transaction quantity). In this embodiment of the application, the customer's transaction needs may not be completed at one time, that is, the target transaction quantity in the first transaction order is greater than the transaction quantity that can be traded. When the futures exchange system 103 processes the second transaction order, it determines the second target transaction quantity that can be traded for the second transaction order based on the exchange's on-site matching rules (i.e., the rules of price priority and quotation time priority). If the first target transaction quantity is greater than the second target transaction quantity, the second transaction order is traded based on the second target transaction quantity and the first target transaction price. The bank processes the transaction, that is, only the second target transaction quantity in the bank's order is executed, and the transaction details are fed back to the bank transaction system 102, where the transaction details may include, for example, information such as transaction type, transaction direction, actual transaction quantity, transaction type, transaction date / delivery date and futures transaction price. When the target transaction price of other target transaction orders is the same as the first target transaction price in the futures contracts, they will be processed according to the exchange's on-site matching rules; if the first target transaction quantity is equal to the second target transaction quantity, the second transaction order will be processed based on the first target transaction quantity and the first target transaction price (at this time, all transaction quantities of the bank's on-site order can be executed at one time), and the transaction details are fed back to the bank transaction system 102.

[0103] After receiving the transaction details from the futures exchange system 103, the bank trading system 102 may also calculate a second target transaction price for the transaction with the client based on a pre-set commission spread and funding cost, where the funding cost is the interest corresponding to the difference between the margin paid by the client at the bank and the margin paid by the bank at the futures exchange (the margin paid by the client at the bank is lower than the margin paid by the bank at the futures exchange). The bank trading system 102 then processes the first transaction order based on the actual transaction quantity and the second target transaction price in the transaction details provided by the futures exchange system 103, and provides the client 101 with feedback on the transaction details. The transaction details may include, for example, information such as the transaction type, transaction direction, actual transaction quantity, transaction type, transaction date / delivery date, and forward transaction price. It should be noted that the transaction quantity between the bank and the client is the same as the transaction quantity actually executed by the bank at the exchange.

[0104] In some other embodiments, considering that customers can only trade standard contracts when trading directly through a futures exchange, and that the exchange adopts a daily zero-debt settlement system, when a customer's position incurs a floating loss, once the margin paid by the customer fails to meet the minimum margin requirement, the customer will face the risk of being forced to close the position immediately by the exchange, which places high demands on the customer's liquidity. The embodiment of the present application obtains the customer's bank data and credit data through a bank transaction system, conducts a risk assessment on the customer based on the bank data and credit data, determines the customer's credit line, and determines the margin and credit line to be occupied based on the preset customer risk management rules and occupies them; wherein, the margin is the margin paid by the customer to the bank. That is, the present application can not only use the margin paid by the customer as collateral, but also use the credit line approved by the bank for the customer as collateral. In some other embodiments, the customer's floating profit on the position and the funds to be delivered can also be used as part of the collateral. Among them, because the bank and the customer's transaction delivery does not require same-day delivery, there are funds to be delivered. If the direction of the funds to be delivered is for the bank to pay the customer, it can be used as a guarantee. Compared with the guarantee based only on the margin paid by the customer, it can reduce the margin fund occupation, thereby reducing the liquidity requirements for customer margin.

[0105] As mentioned above, the transaction details include the delivery date. In this application, on the basis of ensuring that the customer's funds to be delivered are adequately covered by collateral, the bank can set the customer fund delivery method to T+2 delivery when formulating the second trading rules (currently, the fund delivery method set in the first trading rules formulated by the futures exchange is generally T+0 delivery). Therefore, in the embodiment of this application, when the bank trading system 102 receives the request information for early reverse liquidation sent by the client 101 or determines that the current date is the actual delivery date, it completes the fund delivery between the bank and the customer based on the fund delivery method in the first trading rules. For example, in situations where fund delivery is required for early reverse liquidation of customer transactions or maturity settlement, the bank will conduct fund delivery with the customer based on the T+2 fund delivery method. In this way, compared with the T+0 delivery requirement of the futures exchange, it can provide more flexible space for customer fund liquidity arrangements.

[0106] Among them, the risk management for customers in this application mainly includes intraday risk management and end-of-day risk management. The following introduces the two risk management methods respectively:

[0107] Intraday risk management: When a client opens a trading order during the day, the bank's trading system calculates the amount of funds and equity that should be reserved for the order (equity includes: the client's margin, floating profit on positions, and funds to be delivered) and occupies them. When the opening transaction is completed, the system calculates the amount of funds and equity that should be occupied for the transaction in accordance with the actual position guarantee rules and the changes in the client's overall position. When the client closes a position during the day, the system calculates the amount of funds and equity that should be released for closing the position and releases them based on the changes in the client's overall position.

[0108] End-of-day risk management: At the end of the day, the bank's trading system recalculates the floating profit and loss of the customer's positions, the margin occupied by the positions, and the funds to be delivered. It releases all currently occupied margins and then readjusts the client's funds to be delivered, positions, and floating losses on various margins according to the end-of-day margin occupation rules. The calculation and processing order is: the funds to be delivered occupy various margins, the positions occupy various margins, and the floating losses occupy various margins. After that, the judgment and calculation of the margin recovery is carried out, and finally the judgment and calculation of the forced liquidation are carried out.

[0109] In the specific implementation process, the client determines the trading target based on the market quotes of various futures contracts displayed on the client. Based on this trading target, the client sends a first trading order to the bank's trading system. The bank's trading system generates a second trading order based on the first trading order for the bank to trade with its counterparty on the exchange. The futures exchange system determines whether there is a target trading order on the exchange with the same price as the bank's order on the exchange. If so, it processes the order based on the first trading rules, completes the transaction between the bank and the target trading order, and feedbacks the transaction details to the bank's trading system. After receiving the transaction details from the futures exchange system, the bank's trading system processes the first trading order based on the second trading rules and feedbacks the transaction details to the client, which the client can query through the client. The entire transaction process is automatically completed by the bank-to-customer commodity forward trading system after the customer places an order, resulting in high transaction efficiency. The bank's on-exchange flat-out trading process (i.e., the process of placing an order on the futures exchange based on the customer's order) is automatically generated by the bank-to-customer commodity forward trading system, eliminating the need for the bank to manually process the flat-out trade, effectively saving human resource costs.

[0110] Based on the same inventive concept, see Figure 2 As shown, the embodiment of the present application provides a bank-to-customer commodity forward transaction method, which is applied to Figure 1 The bank-to-customer commodity forward trading system shown in FIG. includes a client, a bank trading system, and a futures exchange system. The bank trading system is connected to the futures exchange system and the client. The process of this method is described as follows:

[0111] Step 201: Receive, through the bank trading system, a first transaction order sent by a client for a transaction with a bank, generate, based on the first transaction order, a second transaction order for the transaction between the bank and a counterparty in the exchange, and send the second transaction order to the futures exchange system;

[0112] The first target transaction price included in the first transaction order and the first target transaction price included in the second transaction order is the same.

[0113] Step 202: Determine, through the futures exchange system, whether there is a target trading order with a transaction price equal to the first target trading price. If it is determined that there is a target trading order, process the second trading order based on the first trading rule, complete the bank's transaction on the exchange, and feedback the transaction details to the bank's trading system.

[0114] The target transaction order and the second transaction order have opposite transaction directions, and the first transaction rule is a transaction rule established by the exchange.

[0115] Step 203: Receive the transaction details fed back by the futures exchange system through the bank's transaction system. Upon receiving the transaction details fed back by the futures exchange system, process the first transaction order based on the second transaction rule, complete the transaction between the bank and the customer, and feed back the transaction details to the client.

[0116] The second transaction rules are transaction rules formulated by the bank.

[0117] In a possible implementation, before the bank transaction system receives, through the client, a first transaction order for a transaction with a bank, the method further includes:

[0118] Obtaining futures market quotation information from the futures exchange system through the bank transaction system;

[0119] Sending the market quotation information to the client;

[0120] The market quotation information is displayed through the client, so that the customer can determine a transaction target based on the market quotation information.

[0121] In one possible implementation, the method further includes:

[0122] The transaction details fed back by the bank transaction system are queried through the client.

[0123] In a possible implementation, the first transaction order and the second transaction order further include a first target transaction quantity, and processing the second transaction order includes:

[0124] Determining a second target transaction quantity that can be executed for the second transaction order according to the exchange's on-site matching rules;

[0125] If the first target transaction quantity is greater than the second target transaction quantity, processing the second transaction order based on the second target transaction quantity and the first target transaction price;

[0126] If the first target transaction quantity is equal to the second target transaction quantity, the second transaction order is processed based on the first target transaction quantity and the first target transaction price.

[0127] In a possible implementation, the transaction details fed back by the futures exchange system include the actual transaction quantity, and the processing of the first transaction order includes:

[0128] Calculating a second target transaction price for the transaction with the client based on a pre-set commission spread and funding cost; wherein the funding cost is the interest corresponding to the difference between the margin paid by the client at the bank and the margin paid by the bank at the futures exchange, where the margin paid by the client at the bank is lower than the margin paid by the bank at the futures exchange;

[0129] The first transaction order is processed based on the actual transaction quantity and the second target transaction price.

[0130] In one possible implementation, the method further includes:

[0131] Obtaining the customer's bank data and credit information data through the bank transaction system;

[0132] Conducting a risk assessment on the customer based on the bank data and credit information data to determine the customer's credit limit;

[0133] The margin and credit limit to be occupied are determined and occupied based on the preset customer risk management rules; wherein the margin is the margin paid by the customer to the bank.

[0134] In a possible implementation, the first transaction rule and the second transaction rule further include a funds delivery method, and the funds delivery method in the first transaction rule is different from the funds delivery method in the second transaction rule. The method further includes:

[0135] Determining the delivery date of the first transaction order through the bank transaction system;

[0136] When the current date is the delivery date, the funds delivery between the bank and the customer is completed through the bank transaction system based on the funds delivery method in the first transaction rules.

[0137] In order to better understand the technical solution of the present application, the bank-to-customer commodity forward trading system and trading method provided by the present application will be explained below in conjunction with specific embodiments.

[0138] Example

[0139] Client A intends to conduct a European forward transaction with Bank B to buy 1,000 tons of Shanghai Copper. Client A uses the market quote information of various futures contracts in the futures exchange market displayed on the client provided by Bank B to select the Shanghai Copper 2208 contract (i.e., the Shanghai Copper with a delivery date of August 2022) that is closest to its own delivery date for transaction. For this contract, the current best seller's quote in the futures exchange market is RMB 71,790 / ton, and the best buyer's quote is RMB 71,770 / ton. Based on its own needs, Client A places a pending order to buy 1,000 tons of Shanghai Copper 2208 contract at RMB 71,770 / ton through the client with Bank B.

[0140] Based on Client A's order, the bank's trading system links with the Shanghai Futures Exchange's system interface to generate an order for Bank B on the Shanghai Futures Exchange. The transaction elements (such as the transaction quantity and delivery date) and price of Bank B's on-site order are the same as those of Client A's order, namely, an order to buy 1,000 tons of Shanghai Copper 2208 contracts at a price of RMB 71,770 per ton.

[0141] At this time, the best bid from the seller of this contract in the market is 71,780 yuan / ton, and the best bid from the buyer is still 71,770 yuan / ton. The order placed by Bank B in the Shanghai Stock Exchange cannot be executed for the time being.

[0142] Half an hour later, the best seller's bid for the contract on the exchange is 71,770 yuan / ton, and the best buyer's bid is still 71,770 yuan / ton (the same price as Bank B's pending order). The futures exchange system then executes Bank B's pending order based on the price of 71,770 yuan / ton. If the transaction quantity corresponding to the seller's bid of 71,770 yuan / ton can fully execute Bank B's pending order, the futures exchange system executes Bank B's pending order based on the fully executed quantity and returns the transaction result to the system through the system interface. If the transaction quantity corresponding to the seller's bid of 71,770 yuan / ton cannot fully execute Bank B's pending order, the futures exchange system executes Bank B's pending order based on the fully executed quantity and returns the transaction result to the system through the system interface. The remaining quantity will be processed according to the exchange's on-exchange matching rules when a new seller's bid matches Bank B's pending order. Transactions between Bank B and sellers on the futures exchange system, such as transactions (c), are handled by the futures exchange system in accordance with on-exchange trading rules.

[0143] Transaction (c)

[0144] Trading contract: Shanghai Futures Exchange's SHFE 2208 copper contract

[0145] Transaction direction: Bank B buys

[0146] Transaction volume: 1,000 tons

[0147] Transaction Type: Futures

[0148] Trading date / delivery date: March 2, 2022 / August 26, 2022

[0149] Futures transaction price: 71,770 yuan / ton

[0150] After receiving the exchange's results for transaction (c), the bank's trading system executes the corresponding order placed by Client A. Assuming that Bank B charges Client A a fee of 15 yuan / ton for Shanghai copper transactions, the actual transaction price between Client A and Bank B is 71,770 + 15 = 71,785 yuan / ton. Client A can view the transaction results on the trading client. Transactions between Client A and Bank B, such as those for transaction (d), are handled by the bank's trading system in accordance with the business rules set by Bank B, including subsequent risk control during the remaining period and clearing and delivery upon maturity.

[0151] Transaction (d)

[0152] Trading contract: Shanghai Futures Exchange's SHFE 2208 copper contract

[0153] Transaction direction: Customer A buys, Bank B sells

[0154] Transaction volume: 1,000 tons

[0155] Transaction Type: European Forward

[0156] Trading date / delivery date: March 2, 2022 / August 26, 2022

[0157] Forward transaction price: 71785 yuan / ton

[0158] Based on the same inventive concept, the present application embodiment provides an electronic device. Figure 3 As shown, the electronic device includes at least one processor 301 and a memory 302 connected to the at least one processor. The specific connection medium between the processor 301 and the memory 302 is not limited in the embodiment of the present application. Figure 3 In the example, the processor 301 and the memory 302 are connected via a bus 300. Figure 3 The bus 300 can be divided into an address bus, a data bus, a control bus, etc. For ease of representation, Figure 3 Only one thick line is used in the diagram, but this does not mean that there is only one bus or one type of bus.

[0159] In an embodiment of the present application, the memory 302 stores instructions that can be executed by at least one processor 301. By executing the instructions stored in the memory 302, the at least one processor 301 can execute the steps included in the aforementioned bank-to-customer commodity forward transaction method.

[0160] Among them, the processor 301 is the control center of the electronic device. It can use various interfaces and lines to connect various parts of the entire electronic device. By running or executing instructions stored in the memory 302 and calling data stored in the memory 302, the various functions of the electronic device and processing data, the electronic device can be monitored as a whole. Optionally, the processor 301 may include one or more processing units. The processor 301 may integrate an application processor and a modem processor, wherein the application processor mainly processes the operating system and application programs, etc., and the modem processor mainly processes wireless communications. It is understandable that the above-mentioned modem processor may not be integrated into the processor 301. In some embodiments, the processor 301 and the memory 302 may be implemented on the same chip. In some embodiments, they may also be implemented separately on separate chips.

[0161] Processor 301 can be a general-purpose processor, such as a central processing unit (CPU), a digital signal processor, an application-specific integrated circuit, a field-programmable gate array or other programmable logic device, a discrete gate or transistor logic device, or a discrete hardware component, and can implement or execute the various methods, steps, and logic diagrams disclosed in the embodiments of this application. A general-purpose processor can be a microprocessor or any conventional processor. The steps of the bank-to-customer commodity forward transaction method disclosed in the embodiments of this application can be directly implemented and executed by a hardware processor, or by a combination of hardware and software modules within the processor.

[0162] The memory 302 is a non-volatile computer-readable storage medium that can be used to store non-volatile software programs, non-volatile computer executable programs and modules. The memory 302 may include at least one type of storage medium, such as a flash memory, a hard disk, a multimedia card, a card-type memory, a random access memory (Random Access Memory, RAM), a static random access memory (Static Random Access Memory, SRAM), a programmable read-only memory (Programmable Read Only Memory, PROM), a read-only memory (Read Only Memory, ROM), an electrically erasable programmable read-only memory (Electrically Erasable Programmable Read-Only Memory, EEPROM), a magnetic memory, a disk, an optical disk, etc. The memory 302 is any other medium that can be used to carry or store a desired program code in the form of an instruction or data structure and can be accessed by a computer, but is not limited thereto. The memory 302 in the embodiment of the present application can also be a circuit or any other device that can realize a storage function, for storing program instructions and / or data.

[0163] By designing and programming the processor 301, the code corresponding to the bank-to-customer commodity forward transaction method introduced in the aforementioned embodiment can be solidified into the chip, so that the chip can execute the steps of the aforementioned bank-to-customer commodity forward transaction method during operation. How to design and program the processor 301 is a technology well known to those skilled in the art and will not be repeated here.

[0164] Based on the same inventive concept, an embodiment of the present application also provides a storage medium, which stores computer instructions. When the computer instructions are executed on a computer, the computer executes the steps of the aforementioned bank-to-customer commodity forward transaction method.

[0165] In some possible implementations, various aspects of the bank-to-customer commodity forward transaction method provided in the present application can also be implemented in the form of a program product, which includes program code. When the program product is run on an electronic device, the program code is used to enable the detection device to execute the steps of the bank-to-customer commodity forward transaction method according to various exemplary embodiments of the present application described above in this specification.

[0166] Those skilled in the art will appreciate that the embodiments of the present application can be provided as methods, systems, or computer program products. Therefore, the present application can adopt the form of a complete hardware embodiment, a complete software embodiment, or an embodiment in combination with software and hardware. Moreover, the present application can adopt the form of a computer program product implemented on one or more computer-usable storage media (including but not limited to magnetic disk storage, CD-ROM, optical storage, etc.) that contain computer-usable program code.

[0167] The present application is described with reference to the flowcharts and / or block diagrams of the methods, devices (systems), and computer program products according to the present application. It should be understood that each process and / or block in the flowchart and / or block diagram, as well as the combination of processes and / or blocks in the flowchart and / or block diagram, can be implemented by computer program instructions. These computer program instructions can be provided to a processor of a general-purpose computer, a special-purpose computer, an embedded processor, or other programmable data processing device to produce a machine, so that the instructions executed by the processor of the computer or other programmable data processing device generate instructions for implementing the processes in the flowchart and / or block diagram. Figure 1 a process or multiple processes and / or boxes Figure 1 A device that provides the functions specified in a block or multiple blocks.

[0168] These computer program instructions may also be stored in a computer readable memory that can direct a computer or other programmable data processing device to work in a specific manner, so that the instructions stored in the computer readable memory produce an article of manufacture comprising an instruction device, which implements the process Figure 1 a process or multiple processes and / or boxes Figure 1 The function specified in one or more boxes.

[0169] These computer program instructions can also be loaded onto a computer or other programmable data processing device so that a series of operating steps are executed on the computer or other programmable device to produce a computer-implemented process, thereby providing the instructions executed on the computer or other programmable device for implementing the process. Figure 1 a process or multiple processes and / or boxes Figure 1 A step that specifies a function in one or more boxes.

[0170] Obviously, those skilled in the art may make various changes and modifications to this application without departing from the spirit and scope of this application. Thus, if these modifications and variations of this application fall within the scope of the claims of this application and their equivalents, this application is intended to include these modifications and variations.

Claims

1. A bank-to-customer commodity forward trading system, characterized in that: include: A client, a bank trading system, and a futures exchange system, wherein the bank trading system is connected to the futures exchange system and the client; wherein: The bank trading system is configured to receive a first transaction order sent by the client for a transaction with the bank, generate a second transaction order based on the first transaction order for the bank to trade with a counterparty in the exchange, and send the second transaction order to the futures exchange system; wherein the first target transaction price included in the first transaction order and the second transaction order is the same; The futures exchange system is configured to, when a target trading order exists on the exchange at the same transaction price as the first target trading price, process the second trading order based on a first trading rule, complete the bank's transaction on the futures exchange, and provide feedback of transaction details to the bank's trading system; wherein the target trading order and the second trading order are in opposite transaction directions, and the first trading rule is a trading rule established by the exchange; The bank trading system is further configured to process the first trading order based on second trading rules upon receiving the transaction details fed back by the futures exchange system, complete the transaction between the bank and the customer, and feed back the transaction details to the client; wherein the second trading rules are trading rules formulated by the bank, and the second trading rules are different from the first trading rules.

2. The bank-to-customer commodity forward trading system according to claim 1, characterized in that: The bank transaction system is also used for: Obtain futures market quotation information from the futures exchange system, and send the market quotation information to the client; The client is further configured to display the market quotation information so that the client can determine a transaction target based on the market quotation information.

3. The bank-to-customer commodity forward trading system according to claim 1 or 2, characterized in that: The client is also used to query the transaction details fed back by the bank transaction system.

4. The bank-to-customer commodity forward trading system according to claim 1, characterized in that: The first and second transaction orders further include a first target transaction quantity. The futures exchange system is specifically configured to: Determining a second target transaction quantity that can be executed for the second transaction order according to the exchange's on-site matching rules; If the first target transaction quantity is greater than the second target transaction quantity, processing the second transaction order based on the second target transaction quantity and the first target transaction price; If the first target transaction quantity is equal to the second target transaction quantity, the second transaction order is processed based on the first target transaction quantity and the first target transaction price.

5. The bank-to-customer commodity forward trading system according to claim 4, characterized in that: The transaction details fed back by the futures exchange system include the actual transaction amount. The bank transaction system is also used to: Upon receiving the transaction details fed back by the futures exchange system, calculating a second target transaction price for the transaction with the client based on a pre-set handling fee spread and funding cost; wherein the funding cost is the interest corresponding to the difference between the margin paid by the client to the bank and the margin paid by the bank at the futures exchange, where the margin paid by the client to the bank is lower than the margin paid by the bank at the futures exchange; The first transaction order is processed based on the actual transaction quantity and the second target transaction price.

6. The bank-to-customer commodity forward trading system according to claim 1, characterized in that: The bank transaction system is also used for: Obtaining the customer's bank data and credit information, conducting a risk assessment on the customer based on the bank data and credit information, and determining the customer's credit limit; The margin and credit limit to be occupied are determined and occupied based on the preset customer risk management rules; wherein the margin is the margin paid by the customer to the bank.

7. The bank-to-customer commodity forward trading system according to claim 1, characterized in that: The first transaction rule and the second transaction rule also include a funds delivery method, and the funds delivery method in the first transaction rule is different from the funds delivery method in the second transaction rule. The bank transaction system is further configured to: Determining the delivery date of the first transaction order; When the current date is the delivery date, the funds delivery between the bank and the customer is completed based on the funds delivery method in the first transaction rules.

8. A method for bank-to-customer commodity forward trading, characterized in that: The method is applied to a bank-to-customer commodity forward trading system, which includes a client, a bank trading system, and a futures exchange system. The bank trading system is connected to the futures exchange system and the client. The method includes: receiving, through the bank trading system, a first transaction order sent by the client for a transaction with the bank, generating, based on the first transaction order, a second transaction order for the bank to trade with a counterparty in the exchange, and sending the second transaction order to the futures exchange system; wherein the first target transaction price included in the first transaction order and the second transaction order is the same; determining, through the futures exchange system, whether there is a target trading order in the exchange with a transaction price that is the same as the first target transaction price; and if it is determined that the target trading order exists, processing the second trading order based on the first trading rule to complete the bank's transaction in the futures exchange, and feeding back transaction details to the bank's trading system; wherein the target trading order and the second trading order have opposite transaction directions, and the first trading rule is a trading rule established by the exchange; The bank's transaction system receives transaction details fed back by the futures exchange system. Upon receiving the transaction details fed back by the futures exchange system, the bank processes the first transaction order based on second transaction rules to complete the transaction between the bank and the customer, and feeds back the transaction details to the client. The second transaction rules are transaction rules formulated by the bank, and the second transaction rules are different from the first transaction rules.

9. The method according to claim 8, wherein Before receiving, through the bank transaction system, the first transaction order sent by the client for a transaction with the bank, the method further includes: Obtaining futures market quotation information from the futures exchange system through the bank transaction system; Sending the market quotation information to the client; The market quotation information is displayed through the client, so that the customer can determine a transaction target based on the market quotation information.

10. The method according to claim 8 or 9, characterized in that The method further comprises: The transaction details fed back by the bank transaction system are queried through the client.

11. The method according to claim 8, wherein The first transaction order and the second transaction order also include a first target transaction quantity, and the processing of the second transaction order includes: Determining a second target transaction quantity that can be executed for the second transaction order according to the exchange's on-site matching rules; If the first target transaction quantity is greater than the second target transaction quantity, processing the second transaction order based on the second target transaction quantity and the first target transaction price; If the first target transaction quantity is equal to the second target transaction quantity, the second transaction order is processed based on the first target transaction quantity and the first target transaction price.

12. The method according to claim 11, wherein The transaction details fed back by the futures exchange system include the actual transaction quantity, and the processing of the first transaction order includes: Calculating a second target transaction price for the transaction with the client based on a pre-set commission spread and funding cost; wherein the funding cost is the interest corresponding to the difference between the margin paid by the client at the bank and the margin paid by the bank at the futures exchange, where the margin paid by the client at the bank is lower than the margin paid by the bank at the futures exchange; The first transaction order is processed based on the actual transaction quantity and the second target transaction price.

13. The method according to claim 8, wherein The method further comprises: Obtaining the customer's bank data and credit information data through the bank transaction system; Conducting a risk assessment on the customer based on the bank data and credit information data to determine the customer's credit limit; The margin and credit limit to be occupied are determined and occupied based on the preset customer risk management rules; wherein the margin is the margin paid by the customer to the bank.

14. The method according to claim 8, wherein The first transaction rule and the second transaction rule also include a funds delivery method, the funds delivery method in the first transaction rule is different from the funds delivery method in the second transaction rule, and the method further includes: Determining the delivery date of the first transaction order through the bank transaction system; When the current date is the delivery date, the funds delivery between the bank and the customer is completed based on the funds delivery method in the first transaction rules.

15. An electronic device, characterized in that: include: a memory for storing program instructions; A processor is configured to call the program instructions stored in the memory and execute the steps included in the method according to any one of claims 8 to 14 according to the obtained program instructions.

16. A computer-readable storage medium, characterized in that The computer-readable storage medium is used to store instructions, and when the instructions are executed, the method according to any one of claims 8 to 14 is implemented.

17. A computer program product comprising instructions, characterized in that The computer program product stores instructions, and when the computer program product is run on a computer, the computer is caused to perform the method according to any one of claims 8 to 14.

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