A three-party cooperative foreign exchange transaction processing method and device

Abstract

The application discloses a kind of three-party cooperative long-term foreign exchange transaction processing method and device, belong to the automation transaction processing technology of the field of financial technology.For the problems of transaction process fragmentation, protocol state asynchronization and risk control lag in the prior art, the application receives internal enterprise transaction application, executes dual risk control verification of credit and volatility;Initiate the same condition inquiry to multiple external financial institutions and match optimally;Automatically generate internal agreement and external agreement consistent with elements;During the existence period, automatically synchronize the life cycle state of both;And continuously monitor exchange rate volatility, counterparty credit rating and liquidity coverage, trigger early warning when exceeding limit.The method also supports electronic signature, ERP synchronization, multi-currency extension and blockchain evidence preservation.The application realizes the whole-process closed-loop management and control of group enterprise long-term foreign exchange transaction, improves operation safety, efficiency and compliance auditability.

Description

Technical Field

[0001] This invention relates to the field of data processing and collaborative control technology, and more specifically, to a method and apparatus for processing forward foreign exchange transactions in a three-party collaborative manner. Background Technology

[0002] In cross-border operations of large corporations, forward foreign exchange transactions are a core tool for managing exchange rate risk. To achieve risk isolation and centralized control, companies typically adopt a "back-to-back" transaction model: an internal company signs a forward foreign exchange agreement with the group's treasury center, while the group's treasury center signs another forward foreign exchange agreement with an external financial institution (such as a bank) that matches the terms of the agreement, thereby completely hedging market risks.

[0003] However, in existing technologies, the aforementioned three-party collaborative processes generally suffer from the following technical defects: First, the transaction process is fragmented and relies on manual transmission. Internal companies' transaction applications must be submitted to the treasury center via email, Excel, or a separate approval system. The treasury center then manually inquires about and compares prices from multiple banks and selects a counterparty. This process involves multiple heterogeneous systems (such as OA, email, and online banking), lacking a unified data channel, resulting in information transmission delays, version inconsistencies, and even the risk of "internal approval but external non-transaction."

[0004] Secondly, the agreement statuses are out of sync, lacking an automatic linkage mechanism. Once an external agreement's status changes due to extension, early settlement, or liquidation, the treasury center needs to manually update the internal agreement status. Due to the lack of system-level status mapping and synchronization logic, inconsistencies often occur between internal and external agreement statuses (e.g., the external agreement has been terminated while the internal agreement still shows "in execution"), leading to operational risks such as duplicate settlements, accounting errors, or abnormal credit limit usage.

[0005] Secondly, the risk control mechanism is static and lagging. Existing systems typically only perform a one-time credit verification at the time of transaction initiation, and cannot dynamically monitor the creditworthiness, liquidity risk, and market exchange rate fluctuations of external financial institutions during the agreement's duration. When a counterparty experiences a sudden credit crisis or severe market volatility, the system cannot proactively issue warnings, resulting in excessively long risk exposure times.

[0006] Furthermore, their support for multiple currencies and emerging markets is weak. Traditional foreign exchange management systems are mostly designed for mainstream currencies and lack flexible parameter configuration interfaces for emerging market currencies, making it difficult to quickly adapt to the needs of the group's global business expansion.

[0007] The aforementioned problems essentially stem from the lack of an integrated, three-party collaborative processing architecture with automatic status synchronization and dynamic risk control capabilities. Although some enterprises have attempted to implement some functions through Enterprise Resource Planning (ERP) systems or customized middleware, these solutions are still limited to pre-approval and post-accounting, failing to solve the technical bottlenecks of closed-loop control and real-time risk response throughout the entire process.

[0008] Therefore, there is an urgent need for a technical solution that can automatically complete three-party collaborative price inquiry, mirror protocol generation, lifecycle status synchronization, and full-cycle dynamic risk control to improve the security, efficiency, and auditability of forward foreign exchange transactions. Summary of the Invention

[0009] To address the aforementioned problems in the existing technology, this application provides a method and apparatus for processing forward foreign exchange transactions involving three parties.

[0010] The first aspect of this application provides a method for processing forward foreign exchange transactions involving three parties, comprising the following steps: Receive forward foreign exchange transaction applications submitted by internal enterprises. The forward foreign exchange transaction applications include the target currency, transaction amount, maturity date and target exchange rate range; Perform risk control verification on internal enterprises; If the risk control verification is passed, the same condition inquiry request will be initiated to multiple external financial institutions based on the forward foreign exchange transaction application, and the best matching object will be selected based on the quotations returned by each external financial institution. Based on the optimal matching object, internal and external agreements are automatically generated. The internal agreement is used to stipulate the transactions between internal enterprises and the treasury center, and the external agreement is used to stipulate the transactions between the treasury center and the optimal matching object. The internal and external agreements have the same transaction currency, transaction amount and expiration date. During the duration of the internal and external agreements, the lifecycle status of the internal and external agreements is automatically kept synchronized. Lifecycle status synchronization includes updating the status of the internal and external agreements simultaneously when performing rollover, delivery, or closing operations. During the term of operation, risk indicators will be continuously monitored, including exchange rate volatility calculated based on market exchange rate data, credit rating of the best matching partner, and liquidity coverage ratio of the best matching partner. An early warning will be triggered if any risk indicator exceeds a preset threshold.

[0011] This application integrates inquiry, agreement generation, status synchronization and dynamic risk control into a unified technical process, realizing closed-loop management of tripartite collaboration. It effectively avoids information gaps, inconsistent status and delayed risk response caused by manual intervention, and significantly improves the automation level, operational security and compliance auditability of forward foreign exchange transactions.

[0012] Furthermore, risk control verification is performed on internal enterprises, including: Obtain the available credit limit of internal enterprises and verify whether the available credit limit covers the transaction amount; Obtain the current exchange rate volatility and determine whether the exchange rate volatility exceeds the preset risk threshold.

[0013] This application incorporates the entity's credit risk (credit limit) and market risk (exchange rate fluctuations) into a unified risk control framework, achieving dual verification beforehand to prevent excessive transactions or irrational transactions in a highly volatile market environment, thereby reducing operational and market risks from the source.

[0014] Furthermore, available credit lines can be obtained from the enterprise resource planning system or the group's cash management system, and market exchange rate data can be obtained in real time from the interbank foreign exchange market interface or the interface of a third-party financial data service provider.

[0015] This application connects the company's internal funding system with authoritative external financial data sources to ensure the authenticity and timeliness of risk control parameters, avoid misjudgments caused by data lag or manual entry errors, and improve the reliability of risk control decisions.

[0016] Furthermore, the optimal matching partner is selected based on the quotes returned by various external financial institutions, including: Obtain quotes, historical average spreads, and current exchange rate volatility from various external financial institutions; The target spread is obtained based on the quoted price, the historical average spread, and the current exchange rate volatility. The best matching external financial institution is selected as the one that meets the target spread and offers the best price.

[0017] This application comprehensively considers costs (quotes), historical transaction costs (average spreads), and current market risks (volatility) to achieve optimal risk-adjusted pricing, ensuring both competitive transaction costs and avoiding neglecting counterparty risks due to an excessive pursuit of low prices.

[0018] Furthermore, the target spread is calculated using the following formula: Target spread = Historical average spread + Risk adjustment factor × Exchange rate volatility The risk adjustment coefficient is dynamically configured based on the risk level of the internal enterprises.

[0019] This application uses a quantitative model to dynamically adjust the spread tolerance, enabling high-risk companies to bear higher hedging costs and low-risk companies to enjoy better prices, thereby achieving a refined match between risk and cost and enhancing the risk pricing capabilities of the treasury center.

[0020] Furthermore, automatically maintaining the lifecycle state synchronization between internal and external protocols includes: When an external protocol status change to "in effect" is detected, the internal protocol status is set to "in execution". When an external agreement is detected to have completed delivery or closing, the corresponding internal agreement is automatically shut down.

[0021] This application eliminates the operational risk of inconsistencies between internal and external agreement states by establishing clear state mapping rules that are automatically executed by the system, ensuring the real-time accuracy of accounts, credit limits, and transaction records, and avoiding duplicate settlements or exposure omissions.

[0022] Furthermore, after automatically generating the internal and external protocols, the above method also includes the following steps: Electronic signatures are used for both internal and external agreements; The transaction elements in the signed agreement are pushed to the enterprise resource planning system through a standardized interface.

[0023] This application achieves seamless integration between agreement signing and financial accounting, reduces manual data entry, improves accounting efficiency and accuracy, and meets the compliance requirements of the Electronic Signature Law.

[0024] Furthermore, the target currencies include at least two of the following: US dollar, euro, Japanese yen, British pound, and Chinese yuan; The above methods also include: Load trading rules for emerging market currencies through an extensible currency parameter interface.

[0025] This application supports rapid expansion to emerging market currencies through parametric design, adapting to global business needs without modifying the core code, and significantly improving the system's flexibility and maintainability.

[0026] Furthermore, the above method also includes the following steps: Key operational records related to protocol generation, status changes, and risk warning events are written into a blockchain-based evidence storage system for auditing and traceability.

[0027] This application leverages the immutability and traceability of blockchain to provide a credible chain of evidence for auditing, regulation, and dispute resolution, thereby enhancing system compliance and non-repudiation capabilities.

[0028] A second aspect of this application provides a three-party collaborative forward foreign exchange transaction processing device, comprising: The application receiving module is used to receive forward foreign exchange transaction applications submitted by internal enterprises; The risk control verification module is used to perform risk control verification on internal enterprises. The inquiry matching module is used to initiate inquiry requests with the same conditions to multiple external financial institutions after the risk control verification is passed, and select the best matching object based on the returned quotations; The protocol generation module is used to automatically generate internal and external protocols based on the optimal matching object. The internal and external protocols have the same transaction currency, transaction amount and expiration date. The state synchronization module is used to automatically keep the lifecycle states of internal and external protocols synchronized during the protocol's lifespan. The risk monitoring module is used to continuously monitor exchange rate volatility, the credit rating of the best matching partner, and the liquidity coverage ratio, and to trigger an alert when any risk indicator exceeds a preset threshold.

[0029] In summary, this application constructs an integrated three-party collaborative processing architecture, deeply integrating transaction application, intelligent price inquiry, mirror protocol generation, automatic status synchronization, and full-cycle dynamic risk control into a unified technical process. This achieves a fundamental shift in forward foreign exchange transactions from "disjointed manual operation" to "closed-loop system management." Compared to existing technologies, this application not only significantly improves transaction processing efficiency and operational security, effectively eliminating exposure risks and accounting errors caused by status asynchrony, but also greatly enhances the system's compliance, auditability, and risk resistance capabilities through real-time risk monitoring and blockchain evidence storage mechanisms. It provides group enterprises with a highly reliable, highly automated, and highly scalable cross-border fund management technology solution. Attached Figure Description

[0030] To more clearly illustrate the technical solution of the present invention, the specific embodiments of the present invention will be described in detail below with reference to the accompanying drawings, wherein: Figure 1 A flowchart illustrating the overall process of a three-party collaborative forward foreign exchange transaction processing method provided in this embodiment of the invention; Figure 2 This is a logical mapping block diagram of protocol lifecycle state synchronization in an embodiment of the present invention; Figure 3 A block diagram of the module structure of the three-party collaborative forward foreign exchange transaction processing device provided in an embodiment of the present invention. Detailed Implementation

[0031] To more clearly illustrate the technical solutions in the embodiments of this application or the prior art, a brief introduction to this application will be given below in conjunction with the accompanying drawings and descriptions of the embodiments or the prior art. Obviously, the following description of the structure of the accompanying drawings is only some embodiments of this application. For those skilled in the art, other drawings can be obtained based on these drawings without creative effort. It should be noted that the description of these embodiments is for the purpose of helping to understand this application, but does not constitute a limitation on this application.

[0032] In the embodiments provided in this application, the tripartite collaborative forward foreign exchange transaction processing method operates within a treasury management system deployed by a group enterprise. This system serves three entities: internal enterprises, the group's treasury center, and external financial institutions, aiming to achieve automated, closed-loop management of forward foreign exchange transactions. Here, "internal enterprises" refers to subsidiaries or business units within the group that have cross-border payment and receipt needs; "group treasury center" refers to an internal institution established by the group with centralized fund management functions (such as a fund settlement center or finance company), which acts as a transaction intermediary, acting as an agent for internal enterprises to connect with the external market; and "external financial institutions" include counterparties with forward foreign exchange transaction qualifications, such as commercial banks, securities firms, or licensed market makers.

[0033] To support the technical solution of this invention, the aforementioned financial management system must possess the following basic capabilities: (1) It can receive and parse structured forward foreign exchange transaction applications; (2) Supports standardized interface communication with multiple external financial institutions to initiate inquiries and receive quotations; (3) It has a protocol template engine that can automatically generate internal and external protocols with consistent elements; (4) Provide an event-driven state synchronization mechanism to ensure consistency of internal and external protocol lifecycle states; (5) Integrate real-time financial data sources and risk control rule engines to achieve dynamic risk monitoring.

[0034] The following section will explain in detail how the above capabilities are achieved through the specific technical process provided in this application, using typical application scenarios as examples.

[0035] The overall processing flow of this invention is as follows: Figure 1 As shown, its core lies in automating collaboration between internal enterprises, the group's treasury center, and external financial institutions through computer systems, ensuring consistency and security throughout the entire transaction lifecycle. The following section provides a detailed explanation of the specific implementation methods for each step, using a typical business scenario as an example.

[0036] S1. Receive forward foreign exchange transaction applications submitted by internal enterprises.

[0037] In practice, internal companies can initiate a forward foreign exchange transaction request through the user interface of the treasury management system (such as a web interface or mobile application). This request must include the basic elements required to complete the transaction, including the target currency pair (e.g., USD / CNY), the transaction amount, the expected settlement date, and the acceptable exchange rate range for the company. Upon receiving the request, the system uses it as input data for subsequent processing, entering the risk control verification stage.

[0038] In one embodiment, the forward foreign exchange transaction application must simultaneously include the target currency, transaction amount, maturity date, and target exchange rate range; the system will reject the application if any element is missing.

[0039] S3. Conduct risk control verification for internal enterprises.

[0040] Risk control verification is a crucial preliminary step to ensure transaction compliance and security. The system retrieves the company's currently available foreign exchange derivatives credit line from its internal funds management system and determines whether the applied transaction amount falls within that limit. Simultaneously, the system calculates the current exchange rate volatility based on real-time or recent market exchange rate data and assesses whether it is within a preset risk tolerance threshold. Only when the credit line is sufficient and market risk is controllable is the transaction application allowed to proceed to the next stage.

[0041] S5. Initiate price inquiry requests with the same conditions to multiple external financial institutions, and select the best matching object based on the returned quotes.

[0042] Once risk control is approved, the system will automatically generate a standardized inquiry instruction and simultaneously send it to multiple pre-configured partner financial institutions (such as commercial banks or licensed market makers). All inquiry requests are based on the same trading conditions (including currency, amount, expiration date, etc.) to ensure comparability of quotes. After each financial institution returns its quote within the specified time, the system comprehensively considers the quote level, historical transaction costs, and current market risks, and uses a preset selection logic to select the most suitable counterparty. This counterparty will then become the party to sign subsequent external agreements.

[0043] In one embodiment, initiating price inquiry requests with the same conditions to multiple external financial institutions means that all price inquiry requests use exactly the same transaction elements, the same quotation deadline, and the same transaction confirmation format to ensure that the quotation results are directly comparable.

[0044] S7. Based on the selected optimal matching object, automatically generate internal and external protocols.

[0045] The system utilizes its built-in protocol template engine to generate two independent but identical electronic agreements based on the same set of core transaction elements (including currency, amount, and maturity date): one agreement outlining the rights and obligations between internal enterprises and the group's treasury center, and the other outlining the transaction arrangements between the group's treasury center and external financial institutions. This "mirror agreement" structure ensures that the group's treasury center does not bear additional market risk, achieving complete risk hedging. After the two agreements are generated, their legal validity can be further confirmed through an electronic signature mechanism.

[0046] In one embodiment, after generating the internal and external protocols, the system automatically performs a consistency check. The protocol is allowed to enter the signing process only if the transaction currency, transaction amount, and expiration date of the two protocols are exactly the same; otherwise, the processing is terminated and an error is reported.

[0047] S9. During the duration of the agreement after it takes effect, the system automatically keeps the lifecycle status of the internal and external agreements synchronized.

[0048] The term "lifecycle status" refers to the different stages of an agreement's lifecycle, from creation and effectiveness to execution and termination (e.g., "pending effectiveness," "in execution," "extended," "closed"). The system automatically updates the internal agreement status by monitoring external agreement status change events (such as confirmation of transaction by a financial institution, early termination, or extension confirmation). For example, when an external agreement is marked as "completed" due to successful settlement, the system immediately and synchronously updates the corresponding internal agreement status to "closed," thus avoiding inconsistencies where one party has ended while the other remains active.

[0049] S11. Throughout the entire lifespan, the system continuously monitors multiple key risk indicators and triggers an alert when any indicator exceeds a preset threshold.

[0050] These risk indicators include: exchange rate volatility calculated based on market exchange rate data, used to measure market uncertainty; credit ratings of external financial institutions, reflecting their ability to fulfill obligations; and the institution's liquidity coverage ratio, characterizing its ability to pay under stress scenarios. The system periodically (e.g., hourly or daily) retrieves the latest values ​​of these indicators from authoritative financial data sources and compares them with preset safety thresholds. Upon detecting anomalies (such as a credit rating downgrade, a sudden drop in liquidity, or a surge in volatility), the system immediately issues risk warnings to relevant management personnel via email, push notifications, or pop-up windows in the user interface, enabling timely countermeasures.

[0051] In one embodiment, the continuously monitored risk indicators include: simultaneously acquiring exchange rate volatility, external financial institution credit ratings, and liquidity coverage ratios, and making a comprehensive judgment on whether to trigger an early warning based on the three, rather than relying solely on a single indicator.

[0052] Through the above process, this invention realizes fully automated and closed-loop management of forward foreign exchange transactions from application to termination, significantly improving operational efficiency and risk control capabilities.

[0053] Risk control verification is the first line of defense in ensuring transaction security in this invention. Its purpose is to identify and intercept potential credit and market risks at the transaction initiation stage. The core of this sub-process is to simultaneously assess the creditworthiness of the internal enterprise and the current market volatility level. Only when both are within a controllable range is the transaction allowed to proceed.

[0054] From a technical implementation perspective, risk control verification involves two parallel judgment dimensions: The first dimension is the verification of the credit limit.

[0055] The system needs to obtain the currently available foreign exchange derivatives credit line for the internal enterprise. This line is typically pre-approved by the group's treasury department based on the enterprise's financial status, historical performance records, and the group's overall risk policy, and is stored in the group's unified treasury management system. Upon receiving a transaction application, the system automatically queries the enterprise's available credit line and determines whether the requested transaction amount is within that limit. If the requested amount exceeds the available credit line, it is considered to have excessive credit risk, and the system will directly reject the transaction without proceeding to further steps.

[0056] "Available credit limit covers transaction amount" means that the available credit limit is greater than or equal to the transaction amount; if the available credit limit is less than the transaction amount, it is considered not covered.

[0057] The second dimension is market risk assessment.

[0058] Even with sufficient credit, transactions can still introduce uncontrollable subsequent risks if the market is in a state of extreme volatility. Therefore, the system also needs to quantitatively assess the volatility of the current exchange rate market. Specifically, based on recent market exchange rate data (e.g., the past 30 calendar days), the system calculates the standard deviation or annualized volatility of the exchange rate as a core indicator for measuring market uncertainty. This volatility value is then compared with a preset risk threshold—which can be dynamically configured according to the group's risk appetite (e.g., 8% for a conservative strategy and 12% for an aggressive strategy). If the current volatility exceeds the threshold, the market risk is deemed too high, and the transaction application is rejected.

[0059] The two checks mentioned above can be performed independently, or they can be performed using "AND" logic (i.e., both must be satisfied simultaneously) or "OR" logic (if either one exceeds the limit, the check will be rejected). The specific strategy is determined by the group's risk control policy.

[0060] Suppose an internal company applies for a forward exchange settlement transaction of €5 million. The system first reads from the group's cash management system that the company's current available foreign exchange derivatives credit line is €6 million, meeting the amount requirement. Then, the system retrieves the daily closing exchange rate of the Euro to the Chinese Yuan over the past month and calculates an annualized volatility of 9.2%. If the group's set volatility threshold is 10%, the transaction passes risk control verification; however, if the threshold is set at 8%, it will be blocked due to excessive market risk. Throughout the entire process, all data acquisition, calculation, and judgment are completed automatically by the system without manual intervention, ensuring consistency in risk control and improving processing efficiency.

[0061] In one embodiment, the risk control verification adopts an "AND" logic, that is, the risk control verification is deemed to be passed only when the available credit limit covers the transaction amount and the exchange rate volatility does not exceed a preset risk threshold.

[0062] Furthermore, to ensure the timeliness and authority of risk control parameters, the system supports obtaining the necessary information from multiple trusted data sources. For example, credit limit data comes from the group's internal ERP system or cash management platform, while market exchange rate data can be obtained in real time from official channels of the interbank foreign exchange market or qualified third-party financial information service providers. This multi-source data integration mechanism effectively avoids misjudgments caused by delays or errors from a single data source, further enhancing the reliability of risk control decisions.

[0063] After the risk control verification is passed, the system needs to select the most suitable counterparty from multiple external financial institutions to achieve the optimal balance between cost and risk. This selection process is not simply about choosing the one with the best offer, but rather it comprehensively considers the current offer, historical transaction costs, and market risk levels, and achieves intelligent decision-making through a configurable selection logic.

[0064] This process includes the following three key operations: First, collect quotes from various external financial institutions.

[0065] The system synchronously sends standardized inquiry requests to pre-configured partner financial institutions (such as commercial banks, securities firms, or licensed market makers). All requests are based on the same transaction conditions (including currency, amount, expiration date, etc.) to ensure comparability of quotes. Each institution returns its willing exchange rate quote within the specified response window, and the system uniformly receives and temporarily stores these valid quotes.

[0066] Secondly, determine the selection criteria.

[0067] To avoid incurring hidden risks by excessively pursuing low prices in a highly volatile market, the system introduces a "target spread" as a core constraint for selection. The spread refers to the difference between a financial institution's quoted price and the spot market exchange rate for the same period, usually expressed in basis points, reflecting its service costs and risk premium. The system dynamically calculates the maximum acceptable spread (i.e., the "target spread") based on two factors: first, the average spread level in the financial institution's historical cooperation with the group (reflecting its regular pricing behavior); and second, the current market exchange rate volatility (reflecting the real-time risk level). The higher the volatility, the larger the allowable spread cap, to compensate for the uncertainty borne by the counterparty.

[0068] Finally, the best option is selected.

[0069] Meeting the target spread means that the spread corresponding to the quote returned by the external financial institution is less than or equal to the target spread. Among all returned quotes, the system first eliminates quotes with spreads exceeding the target spread (considered as having uncontrollable risk or unreasonable pricing), and then selects the financial institution with the smallest spread (i.e., the best exchange rate) from the remaining quotes as the final counterparty. If no quote meets the target spread, the transaction process terminates, and the internal company is notified that the transaction cannot be completed under current market conditions.

[0070] Suppose a group inquires with five banks about a $10 million forward exchange rate with a 3-month maturity. The current spot exchange rate is 7.1000. The banks' quoted rates are as follows: Bank A 7.1450 (spread 450), Bank B 7.1400 (400), Bank C 7.1350 (350), Bank D 7.1300 (300), and Bank E 7.1280 (280). Based on the group's historical transaction data with each bank over the past 90 days, the system calculates an average spread of 300 basis points; meanwhile, the current 30-day annualized volatility is 10%. According to the preset risk adjustment rules, for every 1% increase in volatility, the target spread can be increased by 10 basis points, therefore the target spread = 300 + 10 × 10 = 400 basis points. Under these conditions, Bank A (450) is excluded, and the rest are acceptable. The system ultimately selects Bank E (280) because it offers the best price within compliance limits.

[0071] It is worth noting that the aforementioned risk adjustment coefficients can be configured differently based on the risk levels of internal enterprises. For example, a lower risk adjustment coefficient can be used for core subsidiaries with higher credit ratings, allowing them to enjoy a better tolerance for spreads; while a higher coefficient is used for newly established or high-risk subsidiaries to strengthen risk constraints. This dynamic adaptation mechanism ensures that the selection logic can both guarantee the overall risk control of the group and implement refined management of different business units.

[0072] In one embodiment, the risk adjustment factor is dynamically configured based on the internal enterprise's credit rating, wherein when the credit rating is AAA, the risk adjustment factor is 0.5–0.8; and when the credit rating is BBB, the risk adjustment factor is 1.0–1.5.

[0073] Through the above mechanism, this invention achieves an upgrade from "simple price comparison" to "risk-adjusted selection," which not only controls transaction costs but also effectively avoids potential risks caused by drastic market fluctuations or abnormal pricing by counterparties.

[0074] In one embodiment, the automatic maintenance of lifecycle state synchronization by the system refers to pre-setting a one-to-one correspondence between external protocol state change events and internal protocol state update actions, and executing the actions without manual intervention when the event is detected.

[0075] To ensure complete risk hedging under the "back-to-back" transaction model, it is essential to guarantee strict consistency between the internal agreements (between internal enterprises and the group's treasury center) and the external agreements (between the group's treasury center and external financial institutions) throughout the entire transaction period. To this end, this invention designs an automatic synchronization mechanism based on preset mapping rules, the core logic of which is as follows: Figure 2 As shown.

[0076] Figure 2 It illustrates the mapping relationship between the lifecycle states of internal and external protocols. For example... Figure 2 As shown, the left side lists the key states that the external agreement may go through, including: "Effective," "Under Extension," "Settled," and "Closed." The right side lists the states that the internal agreement should maintain, namely: "Executive," "Under Extension," "Closed," and "Closed." The system establishes clear linkage rules through this mapping table: whenever the status of the external agreement changes, the system automatically updates the status of the internal agreement according to this table, ensuring that the two are always in a logically consistent stage.

[0077] Specifically, this synchronization mechanism adopts an event-driven architecture. The system continuously listens for status notification messages from external financial institutions (such as SWIFT MT306 transaction confirmations, Execution Reports in the FIX protocol, etc.). Once a valid status change event is received, the system first parses its corresponding status value (e.g., "Execution Confirmed" maps to "in effect"), and then queries... Figure 2 The mapping table shown determines the target state of the internal protocol and automatically performs update operations.

[0078] When an external financial institution sends an "Execution Confirmed" message, the system sets the external protocol status to "in effect" and, based on... Figure 2Upon receiving the mapping relationship, the system immediately updates the status of the corresponding internal agreement to "Executing". If an internal company subsequently applies for an extension, the system first initiates an extension request to the external institution; after the external institution confirms the request, the external agreement status changes to "Extended", and the system simultaneously updates the internal agreement status to "Extended" and adjusts the expiration date. When the transaction matures and is settled, the external agreement status changes to "Settled", the system triggers an update of the internal agreement status to "Closed", and simultaneously releases the relevant credit line.

[0079] If an external institution refuses or fails to complete the extension process (i.e., the external agreement extension fails), the system will receive a "Release Rejection" or timeout notification. In this case, the external agreement status remains unchanged (e.g., still "Executing"). The system will not roll back the internal agreement's extension application status but will instead mark the transaction as "Extension Abnormal" and notify the operator to intervene. This design avoids repeated changes in the internal state due to unilateral external actions, ensuring the stability of internal management. The internal agreement is only updated synchronously when the external agreement actually undergoes a status change, reflecting the authoritative synchronization principle of "external as the standard, internal as the follower."

[0080] In one embodiment, when an external agreement extension fails, the system rolls back the internal agreement status to the state before the extension application and sends an extension failure notification to the internal enterprise.

[0081] Based on the above Figure 2 The automatic synchronization mechanism of the mapping table enables strong consistency of the internal and external protocol states, fundamentally eliminating the problem of state disconnection caused by human delay or operational oversight.

[0082] After internal and external agreements are generated, to ensure their legal validity and support subsequent financial processing, the system needs to complete two key operations: first, an electronic signature that has legal effect on the execution of the agreement; and second, automatic push of the core transaction elements of the agreement to the Enterprise Resource Planning (ERP) system to achieve accounting linkage and credit limit management. These two operations together constitute an important link in the transaction closed loop.

[0083] Specifically, the process includes the following two collaborative steps: First, implement electronic signatures.

[0084] The system invokes the group's deployed electronic signature service to digitally sign the generated agreement text. This service, based on digital certificates issued by nationally recognized third-party certification authorities (CAs), performs hash calculations on the agreement content to generate a digital signature, and adds a trusted timestamp to ensure that the agreement content is tamper-proof and legally binding from the date of signing. Internal agreements are signed by authorized representatives of internal enterprises and the group's treasury center respectively, while external agreements are signed by the group's treasury center and external financial institutions through their respective electronic signature systems. All signature records are retained by the system as a basis for subsequent dispute resolution or compliance audits.

[0085] Secondly, the key information of the agreement will be synchronized to the ERP system.

[0086] Once the agreement is signed, it is considered officially effective. The system then extracts the core transaction elements, including the currency, amount, interest accrual date, maturity date, counterparty name, and agreement number, and pushes them to the foreign exchange management module of the group's ERP system through a pre-defined standardized data interface. This interface uses industry-standard data exchange protocols (such as HTTPS-based RESTful APIs or message queues) to ensure the security and reliability of data transmission. After receiving the data, the ERP system automatically creates the corresponding accounts receivable / payable foreign exchange accounts and freezes the corresponding credit line, thereby achieving seamless integration between business and finance.

[0087] After a subsidiary completed the signing of a forward exchange settlement agreement, the system immediately triggered an electronic signature process: the treasury center's digital certificate signed the agreement and recorded the signing time (e.g., 14:30 on February 20, 2026). Upon completion, the system automatically extracted fields such as "USD 1,000,000, maturity date May 20, 2026, counterparty: XX Bank" and pushed them to the SAP ERP system via a secure channel. After receiving the data, the ERP system added a new record to the "Foreign Exchange Derivatives Ledger" and froze approximately RMB 7.12 million equivalent in the subsidiary's available credit line. The entire process was completed within seconds, eliminating the need for manual data entry by finance personnel, thus improving efficiency and preventing human error.

[0088] Through the above mechanism, this invention not only ensures the legal validity of the agreement, but also achieves deep integration of the business system and the financial system, providing the group with end-to-end automated transaction management capabilities.

[0089] As enterprises expand their cross-border business scope, the currencies involved in forward foreign exchange transactions have gradually extended from traditional major currencies such as the US dollar and the euro to emerging market currencies such as the Brazilian real, the Indian rupee, and the South African rand. Different currencies exhibit significant differences in trading rules, settlement cycles, holiday arrangements, and minimum trading units. To address this challenge, this invention employs a parameterized configuration mechanism to achieve unified support and flexible expansion for multiple currencies.

[0090] Specifically, the system has a built-in maintainable currency parameter library, which predefines a complete set of transaction rule parameters for each supported currency. These parameters include, but are not limited to: standard settlement period (e.g., T+2), applicable holiday calendar (e.g., "USNY" represents the New York working calendar, "BRSA" represents the São Paulo calendar), minimum transaction amount, exchange rate precision (decimal places), and whether rollover is supported. For mainstream currencies (e.g., USD, EUR, JPY, GBP, CNY), the system loads their standard parameters by default; for emerging market currencies, new currency configuration items can be dynamically added through the management interface.

[0091] This parameter library uses a structured storage method and supports management in the form of configuration files or database records. When an internal enterprise submits a transaction application involving a new currency, the system first checks whether the currency has been registered in the parameter library. If it already exists, the system directly calls its corresponding rules for subsequent processing (such as verifying whether the amount meets the requirements, and whether the interest accrual date avoids local holidays). If it has not yet been registered, the system can prompt the administrator to load the configuration template for the currency, fill in the necessary parameters, and then enable it without modifying the core program code or redeploying the system.

[0092] A group is expanding its Middle East business and needs to support forward transactions in the UAE Dirham (AED). The administrator logs into the treasury management system backend, selects the "Add Currency" function, and the system provides a standardized configuration form, including fields such as settlement days (default T+0), holiday calendar (select "AEAD"), minimum transaction amount (50,000 AED), and exchange rate precision (4 decimal places). After the administrator completes and saves the form, the currency becomes effective immediately. Subsequently, internal companies can initiate AED forward transactions just like they would with USD, and the system automatically applies its proprietary rules for risk control verification, protocol generation, and status management.

[0093] Furthermore, to enhance user experience, the system supports grouping and displaying currencies by region or frequency of use in the front-end interface, and allows users to customize their frequently used currency lists. During the price inquiry phase, the system only sends requests to external financial institutions that support trading in that currency, avoiding unnecessary communication.

[0094] Through the above parametric design, this invention not only fully supports mainstream currency combinations including the US dollar, euro, Japanese yen, British pound, and Chinese yuan, but can also quickly adapt to emerging market currencies, significantly improving the system's scalability and global service capabilities, and meeting the group enterprise's "one-time construction, global reuse" capital management needs.

[0095] To meet the requirements of financial regulation for traceable transactions and tamper-proof operations, this invention introduces a blockchain evidence storage mechanism throughout the entire transaction lifecycle, distributively recording key business events to form a legally valid electronic evidence chain.

[0096] Specifically, when the system detects a specific high-risk or highly sensitive operation, it automatically generates a structured operation record and writes it to a pre-deployed blockchain network. These key events include, but are not limited to: the generation of forward foreign exchange transaction agreements, changes in agreement status (such as rollover, settlement, and closing out), and the triggering of risk warnings. Each record contains the following core information: event type, occurrence time (accurate to milliseconds), operating entity (such as internal company name or system module), unique identifier of the associated agreement, pre-operation status, post-operation status, and operational basis (such as risk control verification results or confirmation messages from external institutions).

[0097] The blockchain network adopts a consortium blockchain architecture, jointly maintained by the group's treasury center, internal audit department, and external regulatory sandbox nodes. All participating nodes hold digital certificates, ensuring controlled data write permissions. Once a record is uploaded to the chain, it is verified and permanently stored through a consensus mechanism, preventing any party from unilaterally tampering with or deleting historical data. The complete operation trajectory can subsequently be queried on the evidence storage platform using the protocol number or time range, for use in internal audits, regulatory reporting, or as evidence in legal disputes.

[0098] When a forward exchange settlement agreement is automatically closed by the system due to early termination by an external bank, the system immediately generates an "Agreement Status Change" event record, which includes: "Event Type = Agreement Closed; Time = 2026-04-10 15:23:47.128; Subject = Status Synchronization Module; Agreement ID = FX20260410001; Original Status = Executing; New Status = Closed; Basis = CITIC Bank MT396 Termination Notice". This record is digitally signed and submitted to the blockchain network, and after verification by a majority of nodes, it is written into a block. Several months later, if the internal audit department raises an inquiry about this transaction, it only needs to enter the agreement ID to retrieve the complete on-chain record from the evidence storage platform, confirming the authenticity and timeliness of the closure operation.

[0099] It is worth noting that blockchain-based evidence storage only covers key operational events, not all transaction data, thus ensuring audit requirements are met while avoiding waste of storage resources. Furthermore, the stored evidence undergoes anonymization (e.g., it does not contain sensitive information such as customer ID numbers or account passwords), complying with data security and privacy protection requirements.

[0100] In one embodiment, the operation record is written to the blockchain in a structured data format, which includes fields such as event type, timestamp, operation subject, protocol ID, previous state, subsequent state, and operation basis. Each field is concatenated in a preset order and then hashed.

[0101] Through the above mechanism, this invention deeply integrates traditional financial transaction processes with the immutability of blockchain, significantly improving the transparency and credibility of the system and providing strong support for the group to build a compliant and robust cross-border fund management system.

[0102] The above process can be executed by a dedicated tripartite collaborative forward foreign exchange transaction processing device. The structure of this device is as follows: Figure 3 As shown, its core consists of multiple functional modules integrated into the group's financial center server. These modules work together to support fully automated processing.

[0103] Specifically, the device includes: The application receiving module is used to receive forward foreign exchange transaction applications submitted by internal enterprises through terminal devices, and to parse the target currency, transaction amount, maturity date and target exchange rate range, etc. The risk control verification module is used to call internal fund data and external market data during the transaction initiation stage to perform dual verification of credit limit and market volatility. The price inquiry matching module is used to send standardized price inquiry requests to multiple external financial institutions, collect quotations, and select the best matching object based on preset selection logic; The protocol generation module is used to call the protocol template engine to automatically generate internal and external protocols based on the same set of transaction elements, ensuring that the two are consistent in key fields; The state synchronization module is used to listen for state change events of external protocols and automatically update the lifecycle state of internal protocols according to preset mapping rules. The risk monitoring module is used to periodically obtain indicators such as exchange rate volatility, external institution credit ratings, and liquidity coverage ratio during the term of the agreement, and to trigger warnings when limits are exceeded.

[0104] The aforementioned modules can be implemented through software programs and deployed on the server or cloud platform of the group's treasury center, interacting with each other via an internal message bus or function calls. The device can also be further integrated with ERP systems, electronic signature services, blockchain evidence storage nodes, and external financial institution interface gateways to form a complete collaborative ecosystem.

[0105] Those skilled in the art will clearly understand that, for the sake of convenience and brevity, the above-described division of functional units and modules is merely an example. In practical applications, the above functions can be assigned to different functional units and modules as needed, that is, the internal structure of the device can be divided into different functional units or modules to complete all or part of the functions described above. The functional units and modules in the embodiments can be integrated into one processing unit, or each unit can exist physically separately, or two or more units can be integrated into one unit. The integrated unit can be implemented in hardware or as a software functional unit. Furthermore, the specific names of the functional units and modules are only for easy differentiation and are not intended to limit the scope of protection of this application. The specific working process of the units and modules in the above system can be referred to the corresponding process in the foregoing method embodiments, and will not be repeated here.

[0106] In one embodiment, the method integrates risk control verification, optimal matching, protocol generation, state synchronization and dynamic monitoring into a single processing flow, so that internal and external protocols always maintain a risk-hedging state from creation to termination, thereby technically eliminating the generation of exposure risk.

[0107] In summary, this invention, by constructing an integrated three-party collaborative processing architecture, deeply integrates the application, risk control, price inquiry, agreement generation, status synchronization, dynamic monitoring, and evidence auditing of forward foreign exchange transactions into a unified technical process, achieving a fundamental shift from "manual fragmented operation" to "system closed-loop management".

[0108] More importantly, the solution boasts excellent scalability and adaptability. Whether adding new currencies, adjusting risk control strategies, or integrating new external trading partners, no modifications to the core code are required; it can be accomplished simply through parameter configuration or API registration, significantly reducing system maintenance costs and upgrade risks.

[0109] Therefore, this invention not only solves the technical problems of process fragmentation, asynchronous status, and lagging risk control in the prior art, but also provides a highly reliable, highly automated, and highly compliant cross-border fund management technology solution for group enterprises, which has significant technological progress and broad industrial application value.

[0110] Finally, it should be noted that the above are merely preferred embodiments of this application and are not intended to limit the scope of protection of this application. Any modifications, equivalent substitutions, improvements, etc., made within the spirit and principles of this application should be included within the scope of protection of this application.

Claims

1. A method for processing forward foreign exchange transactions involving three parties, characterized in that, Includes the following steps: Receive forward foreign exchange transaction applications submitted by internal enterprises, wherein the forward foreign exchange transaction applications include the target currency, transaction amount, maturity date and target exchange rate range; Perform risk control verification on the aforementioned internal enterprises; If the risk control verification passes, then the same condition inquiry request is initiated to multiple external financial institutions according to the forward foreign exchange transaction application, and the optimal matching object is selected based on the quotations returned by each external financial institution. Based on the optimal matching object, an internal agreement and an external agreement are automatically generated. The internal agreement is used to stipulate the transactions between the internal enterprise and the treasury center, and the external agreement is used to stipulate the transactions between the treasury center and the optimal matching object. The internal agreement and the external agreement have the same transaction currency, transaction amount and expiration date. During the existence of the internal and external agreements, the lifecycle status of the internal and external agreements is automatically kept synchronized. The lifecycle status synchronization includes updating the status of the internal and external agreements synchronously when performing rollover, delivery or closing operations. During the duration of the event, risk indicators are continuously monitored, including exchange rate volatility calculated based on market exchange rate data, the credit rating of the optimal matching target, and the liquidity coverage ratio of the optimal matching target. An early warning is triggered when any of the risk indicators exceeds a preset threshold.

2. The forward foreign exchange transaction processing method as described in claim 1, characterized in that, Perform risk control verification on the aforementioned internal enterprises, including: Obtain the available credit limit of the internal enterprise and verify whether the available credit limit covers the transaction amount; Obtain the current exchange rate volatility and determine whether the exchange rate volatility exceeds a preset risk threshold; If the current exchange rate volatility exceeds the preset risk threshold, the risk control verification fails.

3. The forward foreign exchange transaction processing method as described in claim 2, characterized in that, The available credit line is obtained from the enterprise resource planning system or the group's capital management system, and the market exchange rate data is obtained in real time from the interbank foreign exchange market interface or the third-party financial data service provider interface.

4. The forward foreign exchange transaction processing method as described in claim 1, characterized in that, The selection of the optimal matching partner based on quotes returned by various external financial institutions includes: Obtain quotes, historical average spreads, and current exchange rate volatility from various external financial institutions; Based on the quoted price, the historical average spread, and the current exchange rate volatility, obtain the target spread; The external financial institution that meets the target spread and offers the best price is selected as the optimal matching partner.

5. The forward foreign exchange transaction processing method as described in claim 4, characterized in that, The target point difference is calculated using the following formula: Target spread = Historical average spread + Risk adjustment factor × Exchange rate volatility The risk adjustment coefficient is dynamically configured based on the risk level of the internal enterprise.

6. The forward foreign exchange transaction processing method as described in claim 1, characterized in that, The automatic synchronization of the lifecycle states of the internal protocol and the external protocol includes: When the external protocol status is detected to have changed to "effective", the internal protocol status is set to "execution". When the external protocol is detected to have completed delivery or closing, the corresponding internal protocol is automatically shut down.

7. The forward foreign exchange transaction processing method as described in claim 1, characterized in that, After automatically generating the internal and external protocols, the method further includes the following steps: Electronic signatures are applied to the internal and external agreements. The transaction elements in the signed agreement are pushed to the enterprise resource planning system through a standardized interface.

8. The forward foreign exchange transaction processing method as described in claim 1, characterized in that, The target currencies include at least two of the following: US dollar, euro, Japanese yen, British pound, and Chinese yuan; The method further includes: Load trading rules for emerging market currencies through an extensible currency parameter interface.

9. The forward foreign exchange transaction processing method as described in claim 1, characterized in that, The method further includes the following steps: Key operational records related to protocol generation, state changes, and risk warning events are written into a blockchain-based evidence storage system for auditing and traceability.

10. A three-party collaborative forward foreign exchange transaction processing device, characterized in that, include: The application receiving module is used to receive forward foreign exchange transaction applications submitted by internal enterprises; The risk control verification module is used to perform risk control verification on the internal enterprises. The inquiry matching module is used to initiate inquiry requests with the same conditions to multiple external financial institutions after the risk control verification is passed, and select the best matching object based on the returned quotations; The protocol generation module is used to automatically generate internal and external protocols based on the optimal matching object. The internal and external protocols have the same transaction currency, transaction amount and expiration date. The state synchronization module is used to automatically keep the lifecycle states of the internal protocol and the external protocol synchronized during the protocol's existence. The risk monitoring module is used to continuously monitor exchange rate volatility, the credit rating and liquidity coverage ratio of the optimal matching object, and trigger an early warning when any risk indicator exceeds a preset threshold.

Images