Digital asset swap system

Abstract

To provide a digital asset swap system which allows a user to easily identify the adequacy of values, and enables reliable transaction at a stable price, settlement without using legal tender, and many-to-many complicated exchanges.SOLUTION: A digital asset swap system includes: means 11 for creating a base processing book denominated in predetermined legal tender for each DA brand; means 12 for calculating a ratio of each price in the base processing book with respect to a reference price; means 13 for calculating the amount to be sold and the amount to be purchased for each price; means 14 for creating a reference price rate conversion book; means 15 for creating a direct exchange book between a first DA brand and a second DA brand; means 16 for creating a multiple DA brand integration book obtained by integrating reference price rate conversion books of a plurality of DA brands; means 17 for sorting book information of the multiple DA brand integration book in the order of reference price rate; and book information modification control means 18 which performs control so that the multiple DA brand integration book cooperates with books and is synchronized with the change in reference price or content of book information and the content of book information of the multiple DA brand integration book is modified.SELECTED DRAWING: Figure 1

Description

Technical Field

[0001] The present invention relates to a digital asset swap system for exchanging digital assets (DA) in the transaction and settlement of a wide range of digital rights, including those obtained by tokenizing digital assets (such as digital currencies and commodity assets (precious metals (gold, etc.), carbon emission rights, energy (crude oil, electricity, etc.))) as asset raw materials, and digital securities, etc., which can digitally represent economic value. 2 Note that the "system" in the specification of the present application means a computer system that specifically realizes software-based information processing using hardware resources, which is configured by combining elements such as computers, other electronic devices, software, communication networks, and data.

Background Art

[0002] Currently, in order to streamline "barter", "legal tender" is used as an intermediary to indicate a standard value. In recent digitalization, various values such as goods and rights have come to be set as digital assets (DA: Digital Asset, "digital asset").

[0003]

[0004] This DA (digital asset) has recently spread as tokens and coins such as virtual currencies using blockchain, and direct exchanges of each virtual currency and indirect exchanges between each virtual currency and legal tender are being carried out. DA is a general term for assets obtained by digitalizing rights such as SC (Siacoin: digitalized currency), ST (Security Token: digital securities), UT (Utility Token: practical tokens, such as commodities in general), insurances, contracts, NFT (Non-Fungible Token: convertible things such as those to be exchanged for something), etc., and the scope of the target is wide. As the scope of DA expands, convertible processing can be applied not only to barter but also to financial settlements as its extension.​

[0005] However, among DAs, virtual currencies are, in most cases, issued without any guarantee of the value of physical objects, and since the validity of prices is not clear, they have the characteristic that price fluctuations are large in exchanges and transactions. In virtual currencies, major virtual currencies such as Bitcoin and Ethereum serve as the value standard without going through fiat currencies, and are exchanged with other minor alternative virtual currencies.

[0006] For such virtual currency transactions and the like that do not go through fiat currencies, there are almost no legal regulations, and a transaction logic shared globally is introduced via the Internet environment.

Summary of the Invention

Problems to be Solved by the Invention

[0007] However, since these virtual currencies are not based on physical objects as the value standard (redeemable characteristics), it is difficult to make a proper value judgment, the price at which they are traded is unstable, the price does not stabilize, and they are in a speculative state where instantaneous price fluctuations of about 20% always occur. When the price fluctuations of virtual currencies increase, the reliability of the virtual currencies decreases in exchanges and the like, and the value as an asset decreases.

[0008] Especially in the field of cryptographic decentralization such as blockchain, decentralized trading functions such as "DEX" (Decentralized Exchange) have attracted attention. Among them, even in the most powerful UNISWAP, digital trading depends on the infrastructure and is limited to the Ethereum blockchain. Even if small transactions of about 10,000 to 100,000 yen can be handled between different infrastructures, large transactions exceeding 10 million yen lack reliability.

[0009] However, the inventor of the present invention has studied and considered a system for exchanging "DA and fiat currency (including fiat currency tokens)" or exchanging DA in a limited form of trading. Unlike the exchange of virtual currency, such an exchange of DA is associated with clear (redeemable) rights and values such as physical objects. Therefore, it is considered that even though it is a digital asset, it is very different from the trading of virtual currency in that it conducts barter based on individual prices without ignoring individual price formation.

[0010] In the DA exchange system studied and considered by the inventor of the present invention, it was considered to construct a system based on a central trading function called "CEX" (Centralized Exchange: centralized exchange) (it is only a basis, and distributed processing is also within the scope of application). And based on this concept, it was considered to have a service structure with multi-network connections that is not affected by the blockchain. The CEX area is an expansion of the original financial area in the direction of DX (Digital Transformation), and is for automating its existing finance. Therefore, it is considered that the price formation of transactions by CEX will not be as unstable as that of DEX.

[0011] In the current DA transactions, the transaction price relative to the "fiat currency" used as a reference is used as a reference price, and DA is in a situation of being exchanged with fiat currency. The inventor of the present invention considered that in the DA exchange system, although the exchange rate with fiat currency will be disclosed as a "reference price", in actual exchanges, the cases of using fiat currency will be significantly reduced, or settlements will be made without using fiat currencies.

[0012] In the future DX evolution, if DA becomes popular, it is assumed that major DAs will become the main axis of circulation instead of fiat currency. In particular, it is predicted that DAs of major commodities (hereinafter referred to as major DAs) will emerge as an alternative to fiat currency.

[0013] When the economy heads towards the fourth industry centered on digital transformation (DX), it is considered that the main workers in the fourth industry will be machines (computer processing logics such as AI). However, even if machines become the center of the workforce, there are doubts as to whether machines can understand the value of fiat currency like humans do.

[0014] This is because the object that machines value most is the energy that serves as the driving force for operating the machines, specifically, electricity and the like. Therefore, if DX progresses and the importance of value shifts from fiat currency to energy in the new economic circle where these machines are expected to become the main workforce, the value of fiat currency may tend to decline (inflation), and it is considered that it will become difficult to maintain the value of fiat currency even in the current world.

[0015] Similarly, in the fourth industry centered on DX, the main workforce together with machines, the configuration of the network (especially next-generation communication) that constitutes M2M becomes important, and as the circulation token in M2M, tokens such as communication rights trading, together with electricity and reference energy, are considered to become the main tokens for exchange.

[0016] In fact, the spot price of electricity in the physical market tends to fluctuate greatly, and there are limits to fixed-price contracts. For this reason, in trading areas mainly composed of "machines" without the concept of credit, it is considered that electricity trading and supply will be based on the "spot price".

[0017] When machines receive fiat currency as labor compensation, the instability of the price of fiat currency becomes a problem, and it is assumed that the "electricity" or "energy rights" themselves with fixed rights will be the objects of receipt as labor compensation. Therefore, in an era of advancing digital transformation (DX), in many cases, major digital assets (DA) are used for value exchange and settlement as the center of the economy, and it is considered possible for them to become the center of value.

[0018] Next, the inventor of this case considered the situation where major DA is increasingly used for settlement. When a machine conducts settlement using major DA (rights to electricity or energy), humans will also become interested in major DA whose value is increasing. At that time, it is considered that fiat currency will tend to inflate and decrease in value relative to DA, and humans will tend to desire to own not only fiat currency but also major DA.

[0019] In that case, there is no problem because there is an environment for mutually exchanging fiat currency and major DA. However, when conducting settlement and clearing in transactions with other DA using major DA, it is considered that the validity of value exchange between DAs becomes difficult to understand.

[0020] Also, for example, even when using fiat currency as the value standard, it is considered that the validity of value exchange with DA becomes difficult to understand. In Japan, the validity of value can be grasped centered around ¥, which is the unit of fiat currency. However, assuming that the value notation in Japan is replaced from ¥ to US$, for the value notation in US$, it becomes difficult for many people to easily grasp the validity of prices in domestic transactions. That is, humans grasp the validity of value using a value standard based on convention and cannot calculate value with simple logic using different value standards like a machine.

[0021] In transactions involving DAs where humans are involved, the present inventor considered specifying a value criterion that a human can grasp the validity of the value (specifying ¥, which is the unit of legal tender in the case of Japanese people), and using the specified value criterion to display the exchange rate in terms of legal tender (¥ in Japan) for the DA to be traded. Then, through the display of such an exchange rate, it was considered possible to actually conduct exchanges between DAs.

[0022] That is, in the DA transaction in the DA exchange system, the present inventor considered enabling direct exchange between DAs without using legal tender, where the information used for intermediating the transaction (exchange rate with legal tender) based on the exchange rate in the unit of legal tender as the value criterion is different from the exchange target in actual settlement and clearing.

[0023] Originally, when implementing a process for exchanging DAs in a system, it was considered to first convert the DA into legal tender and then conduct an exchange process with the other party's DA using that legal tender. In contrast, the present inventor considered enabling efficient settlement etc. between DAs without necessarily converting the DA into legal tender in the DA exchange system. As a logic, it was considered to fuse the currency-based intermediation type and the direct exchange type, and integrate them into a board so that the relative positions of their values (validity of prices) can be recognized.

[0024] In the DA exchange system, the inventor of this case aims to set the exchange rate between the legal tender and the DA (designated DA) specified by a human at the time of settlement, based on the object visually recognized by the human. On the other hand, in actual settlement and clearing, it is considered that the DAs desired to be exchanged with each other by humans who are parties to the DA transaction are targeted. Humans who are parties to the settlement exchange using the designated DAs desired by each other, but when exchanging, they do not necessarily exchange the designated DAs with legal tender in advance. (Directly process two DAs) Different from the above-mentioned UNISWAP, it is considered that the exchange between the designated DA and the legal tender can be carried out through the market, rather than by humans who are parties to the settlement.

[0025] Furthermore, UNISWAP has the concept of exchanging two DAs one-to-one, but the inventor of this case considered enabling the exchange of DAs through a combination of complex DA brands in many-to-many. By doing so, it is considered that the validity and stability of prices can be realized.

[0026] The present invention has been made in view of the above-mentioned conventional problems, and enables a trader who desires to conduct a DA transaction to easily grasp the validity of the value of the DA, and to conduct a reliable transaction at a stable transaction price, and to settle without using legal tender. Furthermore, it aims to provide a digital asset swap system capable of exchanging DAs through a complex combination of many-to-many.

Means for Solving the Problems

[0027] To achieve the above object, the digital asset swap system according to the present invention is constructed with a distributed ledger in distributed technology such as a blockchain, and a smart contract or server application for performing predetermined processing using the data managed in the distributed ledger. Digital assets (digital currency-like things and commodity assets (precious metals (such as gold), CO 2A digital asset swap system that exchanges digital assets (DA) in the trading and clearing of a wide range of digital rights, including rights to tokens that tokenize expropriation rights and energy (such as crude oil and electricity), and digital securities-like things. The system has a basic processing board creation means that creates a basic processing board (individual trading board) in a predetermined legal currency, consisting of a sell order board showing the sell order quantity for each price in a predetermined trading (quantity) unit relative to the reference quantity for each DA brand, and a buy order board showing the buy order quantity. It also has a first reference price ratio calculation means that uses the basic processing board (individual trading board) created by the basic processing board creation means, sets a predetermined price for each DA brand as the reference price, and calculates the ratio of each price in the basic processing board (individual trading board) to the reference price as the first reference price ratio. A first sell volume and buy volume calculation means that calculates the sell volume (= price × sell order quantity) and buy volume (= price × buy order quantity) for each price using each price and each sell order quantity in the basic processing board (individual trading board) created by the basic processing board creation means. A first reference price ratio conversion board creation means that creates a first reference price ratio conversion board arranging the sell volume and buy volume calculated by the first sell volume and buy volume calculation means for each first reference price ratio calculated by the first reference price ratio calculation means. A DA brand direct exchange board creation means that creates a direct exchange board between a first DA brand and a second DA brand based on the board information of the basic processing board (individual trading board) of the first DA brand in a predetermined legal currency created by the basic processing board creation means and the board information of the basic processing board (individual trading board) of the second DA brand in a predetermined legal currency. A multiple DA brand integrated board creation means that creates a multiple DA brand integrated board by integrating the first reference price ratio conversion boards for a plurality of DA brands created by the first reference price ratio conversion board creation means. A reference price ratio sorting means that sorts the board information of the multiple DA brand integrated board integrated by the multiple DA brand integrated board creation means in the order of the first reference price ratio (excluding those with sell volume and buy volume of 0). The multiple DA brand integrated board is the basic processing board (individual trading board), the first reference price ratio conversion board,A board information change control means having a function of controlling so that, in conjunction with a direct exchange board between the first DA stock and the second DA stock, when the reference price or the content of the board information is changed, the content of the board information sorted in the plurality of DA stock integrated boards is also changed synchronously. Note that the "smart contract" in this specification is a program that operates on a blockchain, and means a program that automatically executes data processing of transactions in the blockchain triggered by information imported from outside the blockchain, and can be processed in parallel in a distributed environment called a node. Also, the processing in a normal application type without using a smart contract has the same processing concept as a smart contract.

[0028] In the digital asset swap system of the present invention, the DA stock direct exchange board creation means includes: a board information order conversion board creation means having a function of creating a board information order conversion board of the first DA stock in which the order quantity and price order in the basic processing board (individual transaction board) of the first DA stock are converted to be in reverse order; a first and second DA stock sell and buy quantity calculation control means having a function of calculating the sell quantity and buy quantity for each price in the board information order conversion board of the first DA stock created by the board information order conversion board creation means and the basic processing board (individual transaction board) of the second DA stock via the first sell and buy quantity calculation means; a buy and sell order price association means having a function of associating the board information order conversion board of the first DA stock with the basic processing board (individual transaction board) of the second DA stock so that the price of the highest buy order in the board information order conversion board of the first DA stock corresponds to the price of the lowest sell order in the basic processing board (individual transaction board) of the second DA stock; a DA stock exchange ratio calculation means having a function of calculating an exchange ratio of the second DA stock in terms of the first DA stock (the quantity of the first DA stock that can be exchanged for the second DA stock for a reference quantity (=1) of a predetermined transaction (quantity) unit = the price of the second DA stock / the price of the first stock) using the respective prices in the board information order conversion board of the first DA stock and the basic processing board (individual transaction board) of the second DA stock associated by the buy and sell order price association means; a first order board data creation means having a function of creating order board data for a first transaction in which the second DA stock is sold and the first DA stock is bought in terms of the first DA stock; and a second order board data creation means having a function of creating order board data for a second transaction in which the second DA stock is bought and the first DA stock is sold in terms of the first DA stock. It is preferable to have these components.

[0029] Also, in the digital asset swap system of the present invention, the first order board data creation means includes: a selling amount conversion means for the second DA stock, which has a function of calculating an amount obtained by converting the selling amount of the second DA stock based on the first DA stock (= the selling amount of the second DA stock / the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means); a first available transaction amount extraction means, which has a function of extracting, in a first transaction of selling the second DA stock and buying the first DA stock, a first available transaction amount (the smaller amount of the amount obtained by converting the selling amount of the second DA stock based on the first DA stock calculated by the selling amount conversion means for the second DA stock and the buying amount of the first DA stock); a maximum delivery amount upper limit value calculation means for the second DA stock in the first transaction, which has a function of calculating a maximum delivery amount upper limit value of the second DA stock in the first transaction of selling the second DA stock and buying the first DA stock (in the first transaction of selling the second DA stock and buying the first DA stock, the first available transaction amount extracted by the first available transaction amount extraction means / the price of the second DA stock × the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means); and a maximum delivery amount upper limit value calculation means for the first DA stock in the first transaction, which has a function of calculating a maximum delivery amount upper limit value of the first DA stock corresponding to the maximum delivery amount upper limit value of the second DA stock in the first transaction calculated by the maximum delivery amount upper limit value calculation means for the second DA stock in the first transaction (in the first transaction of selling the second DA stock and buying the first DA stock, the first available transaction amount extracted by the first available transaction amount extraction means / the price of the first DA stock × the exchange ratio of the second DA stock in terms of the first DA stock). It is preferable to have these components.

[0030] In the digital asset swap system of the present invention, the second order board data creation means includes: a second DA stock buy amount conversion means having a function of calculating an amount obtained by converting the buy amount of the second DA stock based on the first DA stock (= the buy amount of the second DA stock / the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means); a second tradable amount extraction means having a function of extracting a second tradable amount (the smaller amount of the amount obtained by converting the buy amount of the second DA stock based on the first DA stock calculated by the second DA stock buy amount conversion means and the sell amount of the first DA stock) in a second transaction in which the second DA stock is bought and the first DA stock is sold; a second DA stock transfer amount upper limit value calculation means in the second transaction having a function of calculating an upper limit value of the transfer amount of the second DA stock in the second transaction (the second tradable amount extracted by the second tradable amount extraction means in the second transaction in which the second DA stock is bought and the first DA stock is sold / the price of the second DA stock × the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means); and a first DA stock transfer amount upper limit value calculation means in the second transaction having a function of calculating an upper limit value of the transfer amount of the first DA stock corresponding to the upper limit value of the transfer amount of the second DA stock in the second transaction calculated by the second DA stock transfer amount upper limit value calculation means in the second transaction in which the second DA stock is bought and the first DA stock is sold (the second tradable amount extracted by the second tradable amount extraction means in the second transaction in which the second DA stock is bought and the first DA stock is sold / the price of the first DA stock × the exchange ratio of the second DA stock in terms of the first DA stock). It is preferable to have these components.

[0031] In the digital asset swap system of the present invention, in a transaction of one DA stock, when there are combinations of multiple types of legal currency units and transaction (quantity) units as board information, there is a function to convert (unify) them into a predetermined combination of legal currency units and transaction (quantity) units, which is a combination unification means of legal currency units and transaction (quantity) units. Using the board in which the combination of legal currency units and transaction (quantity) units has been converted (unified) by the combination unification means of legal currency units and transaction (quantity) units, taking the predetermined price of the DA stock as the reference price, and calculating the ratio of each price of the converted (unified) board to the reference price as the second reference price ratio, which is a second reference price ratio calculation means. Using the price and sell order quantity in the board in which the combination of legal currency units and transaction (quantity) units has been converted (unified) by the combination unification means of legal currency units and transaction (quantity) units, calculating the sell volume and buy volume for each price, which is a second sell volume and buy volume calculation means. For each of the second reference price ratios calculated by the second reference price ratio calculation means, creating a second reference price ratio conversion board by arranging the sell volume and buy volume calculated by the second sell volume and buy volume calculation means, which is a second reference price ratio conversion board creation means. The plurality of DA stock integrated board creation means has a function to create a plurality of DA stock integrated boards by integrating the first reference price ratio conversion boards for the plurality of DA stocks created by the first reference price ratio conversion board creation means and / or the second reference price ratio conversion boards for the plurality of DA stocks created by the second reference price ratio conversion board creation means. The reference price ratio sorting means has a function to sort the board information of the plurality of DA stock integrated boards integrated by the plurality of DA stock integrated board creation means in the order of the first reference price ratio and / or the second reference price ratio (excluding those with sell volume and buy volume of 0). The board information change control means is linked to the basic processing board (individual transaction board), the first reference price ratio conversion board, the direct exchange board between the first DA stock and the second DA stock, the board in which the combination of legal currency units and transaction (quantity) units has been converted (unified), and the second reference price ratio conversion board, and synchronizes when the reference price and the content of the board information are changed,It is preferable to have a function to control so that the content of the board information sorted in the plurality of DA stock integrated boards is also changed.

[0032] Further, in the digital asset swap system of the present invention, the combination unification means of the legal currency unit and the trading (quantity) unit creates, as board information, the board information of the basic processing board (individual trading board) created in combination with the legal currency unit: dollar and the trading (quantity) unit: ounce in the trading of the first DA stock, and creates a board in which the board information is converted into the legal currency unit: yen and the trading (quantity) unit: gram. It is preferable to have a function.

[0033] Further, in the digital asset swap system of the present invention, the reference price ratio sorting means preferably has an original DA stock identifier information adding means having a function of adding an identifier such as a flag indicating the original DA stock to the individual board information of the sorted data.

[0034] Further, in the digital asset swap system of the present invention, after the content of the reference price or the board information in the basic processing board (individual trading board), the first reference price ratio conversion board, and the direct exchange board between the first DA stock and the second DA stock is changed, it is preferable to have a function of changing the content of the board information sorted in the plurality of DA stock integrated boards at a predetermined interval such as in units of 0.5 seconds.

[0035] Further, in the digital asset swap system of the present invention, after the content of the reference price or the board information in the basic processing board (individual trading board), the first reference price ratio conversion board, the direct exchange board between the first DA stock and the second DA stock, the board in which the combination of the legal currency unit and the trading (quantity) unit is converted (unified), and the second reference price ratio conversion board is changed, it is preferable to have a function of changing the content of the board information sorted in the plurality of DA stock integrated boards at a predetermined interval such as in units of 0.5 seconds.

[0036] In the digital asset swap system of the present invention, it is preferable that the plurality of DA symbol integrated board creation means has a function of creating the plurality of DA symbol integrated boards by arranging the board information of the same DA symbol with different exchange rates and trading volumes in the same column.

[0037] In the digital asset swap system of the present invention, it is preferable that the plurality of DA symbol integrated board creation means has a function of creating the plurality of DA symbol integrated boards by shifting the board information of different DA symbols in a horizontal row.

[0038] In the digital asset swap system of the present invention, when different DA symbols between two parties are in a cross state in the plurality of DA symbol integrated boards, it is preferable to further include integrated board trading process control means having a function of controlling so that the DA of the two parties are exchanged within the plurality of DA symbol integrated boards and the exchange process between DA and currency becomes unnecessary.

[0039] In the digital asset swap system of the present invention, it is preferable that the integrated board trading process control means has a function of controlling to unconditionally match the own position of the market maker when in a cross state with the same DA symbol.

[0040] In the digital asset swap system of the present invention, it further includes liquidity analysis means having a function of determining which of selling and buying is dominant based on the order depth of each board, and it is preferable that the integrated board trading process control means has a function of controlling to match the own position of the market maker based on the board on the side determined to be dominant by the liquidity analysis means.

[0041] In the digital asset swap system of the present invention, when it is determined by the liquidity analysis means that selling is dominant, it is preferable that the integrated board trading process control means has a function of controlling to match the selling of the own position of the market maker for buy orders where the first reference price ratio and / or the second reference price ratio in the buy board is higher than 1.

[0042] Further, in the digital asset swap system of the present invention, when it is determined by the liquidity analysis means that buying is dominant, the integrated board trading process control means preferably has a function of controlling to effect a deal by buying the market maker's own shares for sell orders in which the first reference price ratio and / or the second reference price ratio on the sell board is lower than 1.

[0043] Further, in the digital asset swap system of the present invention, when different DA brands between two parties do not cross in the integrated board of the plurality of DA brands, the integrated board trading process control means preferably has a function of sending them back to the basic processing board (individual trading board) of the DA brand and controlling to perform an exchange process with each currency on the basic processing board (individual trading board).

[0044] Further, in the digital asset swap system of the present invention, a DA payment quantity calculation means having a function of calculating a payment quantity of the DA based on the price of the basic processing board (individual trading board) linked to the reference price ratio for a predetermined settlement amount when selling a predetermined DA brand at a predetermined reference price ratio, a DA payment quantity presentation means having a function of presenting the payment quantity of the DA calculated by the DA payment quantity calculation means to the trader, a DA receipt quantity calculation means having a function of calculating a receipt quantity of the DA based on the price of the basic processing board (individual trading board) linked to the reference price ratio for a predetermined settlement amount when buying a predetermined DA brand at a predetermined reference price ratio, a DA receipt quantity presentation means having a function of presenting the receipt quantity of the DA calculated by the DA receipt quantity calculation means to the trader, and a first settlement instruction receiving means having a function of receiving a settlement instruction from the trader on the payment side who has received the presentation of the payment quantity of the DA by the DA payment quantity presentation means and the trader on the receipt side who has received the presentation of the receipt quantity of the DA by the DA receipt quantity presentation means are further preferably provided.

[0045] In addition, in the digital asset swap system of the present invention, it is preferable to further include a means for creating a plurality of integrated DA symbol boards with transaction prices, which has a function of adding the transaction price of each DA symbol on the basic processing board (individual transaction board) to the plurality of integrated DA symbol boards.

[0046] In addition, in the digital asset swap system of the present invention, based on the plurality of integrated DA symbol boards with transaction prices created by the means for creating a plurality of integrated DA symbol boards with transaction prices, when the settlement price is determined, there are further included a DA exchange quantity calculation means having a function of calculating the exchange quantity of DAs between traders, a DA exchange quantity presentation means having a function of presenting the calculated exchange quantity of DAs to the trader, and a second settlement instruction reception means having a function of receiving a settlement instruction from the trader to whom the exchange quantity of DAs has been presented by the DA exchange quantity presentation means.

[0047] In addition, in the digital asset swap system of the present invention, it is preferable that the DA exchange quantity calculation means has a function of calculating, as the exchange quantity of the DA, a numerical value obtained by dividing the settlement price by the best bid price of the DA symbol.

[0048] In addition, in the digital asset swap system of the present invention, it is preferable to further include a means for creating a physical / CFD integrated board having a function of integrating a physical board and a CFD (Contract For Difference) board.

[0049] In addition, in the digital asset swap system of the present invention, it is preferable to include a CFD quantity adjustment means having a function of adjusting the quantity of CFDs to a quantity that matches the unit of physical transaction (quantity).

[0050] In addition, in the digital asset swap system of the present invention, it is preferable to include a physical quantity adjustment means having a function of adjusting the quantity of physicals to a quantity that matches the unit of CFD transaction (quantity).

[0051] In addition, in the digital asset swap system of the present invention, it is preferable to further include a physical / CFD integrated board creating means having a function of creating a physical / CFD integrated board in which the board information of the physical board and the board information of the CFD (Contract For Difference) board with the same trading (quantity) unit are integrated as one board information.

[0052] In addition, in the digital asset swap system of the present invention, when the DA stock is an ST that conducts transactions using RTGS and DVP as settlement methods with different deliveries, it has a DVP·RTGS integrated board creating means having a function of creating a DVP·RTGS integrated board in which the board information of DVP is integrated into the board information of RTGS, and a function of controlling (basically adjusting mainly on the RTGS side) so that the shift in the delivery timing between the board information of DVP and the board information of RTGS is absorbed by the market maker itself for adjustment. It is further preferable to include a delivery timing adjustment control means between the DVP trading ST and the RTGS trading ST.

[0053] In addition, in the digital asset swap system of the present invention, it has a major DA trading board creating means having a function of creating a major DA trading board for conducting transactions with a reference currency (such as yen) with respect to a DA (major DA) stock that is a reference for creating the board information of the DA stock, and a reference price calculating / setting means having a function of calculating and setting the reference price of each DA stock based on the trading situation on the major DA trading board created by the major DA trading board creating means. It is further preferable to include such means.

[0054] In addition, in the digital asset swap system of the present invention, it is preferable that the reference price calculating / setting means has a function of calculating and setting the median price between the best ask and the best bid on the major DA trading board as the reference price.

[0055] Further, in the digital asset swap system of the present invention, it is preferable that the reference price calculation / setting means has a function of calculating and setting, as the reference price, a weighted average of transaction prices within a predetermined transaction time such as the immediately preceding 5 minutes (changeable) when there is no median price between the best ask and the best bid for the major DA issue on the major DA trading board.

[0056] Further, in the digital asset swap system of the present invention, it is preferable that the reference price calculation / setting means has a function of calculating and setting, as the reference price, the numerical value that is closer in time between the previously set reference price and the previously transacted price when there is neither a median price between the best ask and the best bid nor a weighted average of transaction prices within a predetermined transaction time such as the immediately preceding 5 minutes (changeable) for the major DA issue on the major DA trading board.

[0057] Further, in the digital asset swap system of the present invention, it is preferable to further include a liquidity state volatility calculation means having a function of calculating the volatility (volatility) of the liquidity state of the DA issue.

[0058] Further, in the digital asset swap system of the present invention, when the number of transactions within a predetermined transaction time such as the immediately preceding 5 minutes (changeable) for the DA issue is 20 (changeable) or more, it is preferable that the liquidity state volatility calculation means has a function of calculating the transaction volatility within the predetermined transaction time and calculating the calculated transaction volatility as the volatility (volatility) of the liquidity state.

[0059] In the digital asset swap system of the present invention, when the trading volume change rate calculating means calculates the trading volume change rate for a DA stock, if the number of transactions within a predetermined trading time such as the previous 5 minutes (changeable) is less than 20 (changeable), and if the bids and asks (midpoint of bids and asks) for both selling and buying within the predetermined trading time are 20 (changeable) or more, it is preferable that the trading volume change rate calculating means has a function of calculating the change rates of both the selling and buying bids within the predetermined trading time and calculating the calculated change rates of both the selling and buying bids as the change rate (volatility) of the liquidity state.

[0060] In the digital asset swap system of the present invention, when the trading volume change rate calculating means calculates the trading volume change rate for a DA stock, if the number of transactions within a predetermined trading time such as the previous 5 minutes (changeable) is less than 20 (changeable), and if the bids and asks (midpoint of bids and asks) for both selling and buying within the predetermined trading time are less than 20 (changeable), it is preferable that the trading volume change rate calculating means has a function of calculating the previously calculated change rate as the change rate (volatility) of the liquidity state.

[0061] In the digital asset swap system of the present invention, when creating an integrated board that unifies each DA stock for each major frame, when the board information change control means synchronously repeats the recalculation of the content of the board information based on the reference price when the reference price and the content of the board information are changed, it is preferable that the board information change control means has a function of correcting the first reference price ratio for the DA stock based on the change rate (volatility) of the liquidity state for each DA stock calculated by the liquidity state change rate calculating means.

[0062] In addition, in the digital asset swap system of the present invention, when creating an integrated board that unifies each DA issue for each major frame, when the reference price or the content of the board information is changed, the board information change control means synchronously repeats the recalculation of the content of the board information based on the reference price. When doing so, based on the volatility of the liquidity state for each DA issue calculated by the liquidity state volatility calculation means, it preferably has a function of correcting the first reference price ratio and / or the second reference price ratio for the DA issue.

[0063] In addition, in the digital asset swap system of the present invention, it has a reference price ratio correction table in which the correction amount (addition value or subtraction value) to the reference price ratio according to the range of the volatility of the liquidity state (volatility) is set for each DA issue. The board information change control means collates the volatility of the liquidity state (volatility) for each DA issue calculated by the liquidity state volatility calculation means with the range of the volatility of the liquidity state (volatility) corresponding to the DA issue set in the reference price ratio correction table, and based on the correction amount (addition value or subtraction value) set within the range of the volatility of the liquidity state (volatility), it preferably has a function of correcting the first reference price ratio.

[0064] In addition, in the digital asset swap system of the present invention, it has a reference price ratio correction table in which the correction amount (addition value or subtraction value) to the reference price ratio according to the range of the volatility of the liquidity state (volatility) is set for each DA issue. The board information change control means collates the volatility of the liquidity state (volatility) for each DA issue calculated by the liquidity state volatility calculation means with the range of the volatility of the liquidity state (volatility) corresponding to the DA issue set in the reference price ratio correction table, and based on the correction amount (addition value or subtraction value) set within the range of the volatility of the liquidity state (volatility), it preferably has a function of correcting the first reference price ratio and / or the second reference price ratio.

Advantages of the Invention

[0065] According to the present invention, a digital asset swap system can be obtained in which a trader desiring to conduct a DA transaction can easily grasp the validity of the value of DA, conduct a reliable transaction at a stable transaction price, can perform settlement without using fiat currency, and further can perform an exchange of DAs by a complex combination of many-to-many.

Brief Description of the Drawings

[0066]

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Mode for Carrying Out the Invention

[0067] Prior to the description of the embodiment, the background leading to the present invention and the effects of the present invention will be described.

[0068] Currently, in order to streamline "barter", "legal tender" is used as an intermediary as an indicator of a standard value. In recent digitization, various values such as goods and rights have come to be set as digital assets (DA: Digital Asset, "digital asset").

[0069] In recent years, this DA (Digital Asset) has become popular as tokens and coins such as virtual currencies using blockchain, and direct exchanges of each virtual currency and indirect exchanges between each virtual currency and fiat currency are being carried out.

[0070] DA is a general term for assets that digitize rights such as SC (Siacoin: digitized currency), ST (Security Token: digital securities), UT (Utility Token: practical tokens, such as commodities in general), insurances, contracts, NFT (Non-Fungible Token: something like convertible things for exchange, etc.), and its scope is extensive. As the scope of DA expands, convertible processing can be applied not only to barter but also to financial settlements that are its extension.

[0071] However, most virtual currencies among DAs are issued without being secured by any physical value, and since the validity of the price is not clear, they have the characteristic of large price fluctuations in exchanges and transactions. And in virtual currencies, major virtual currencies such as Bitcoin and Ethereum serve as the value standard and are exchanged with minor alternative virtual currencies without going through fiat currency.

[0072] For such virtual currency transactions etc. without going through fiat currency, there are almost no legal regulations, and a transaction logic shared globally is introduced via the Internet environment.

[0073] However, since these virtual currencies are not based on physical objects as the value standard (convertible characteristics), it is difficult to make a proper value judgment, the price at which they are traded is unstable, the price does not stabilize, and they are in a speculative state where instantaneous price fluctuations of about 20% always occur. When the price fluctuations of virtual currencies become large, the reliability of the virtual currency in exchanges etc. decreases, and the value as an asset decreases.

[0074] Especially in the field of cryptographic decentralization such as blockchain, decentralized trading functions such as "DEX" (Decentralized Exchange) have attracted attention. Among them, even in the most powerful UNISWAP, digital trading is infrastructure-dependent, such as being limited to the Ethereum blockchain. Even if small transactions of about 10,000 to 100,000 yen can be handled between different infrastructures, large transactions exceeding 10 million yen lack reliability.

[0075] However, the inventor of the present invention has studied and considered a system for exchanging "DA and fiat currency (including fiat currency-type tokens)", or exchanging DA in a limited form of trading. Such an exchange of DA is different from the exchange of virtual currencies, and clear (redeemable) rights and values such as physical objects are associated with it. Therefore, it is considered to be very different from virtual currency trading in that it conducts barter based on individual prices without ignoring individual price formation, even for digital assets.

[0076] In the DA exchange system studied and considered by the inventor of the present invention, it was considered to construct a system based on the central trading function of "CEX" (Centralized Exchange) (it is only a basis, and decentralized processing is also within the scope of application). And with this concept, it was considered to have a service structure with multi-network connections that is not affected by the blockchain. The CEX area is an expansion of the original financial area in the direction of DX (Digital Transformation), and is for automating its existing finance. Therefore, it is considered that the price formation of transactions by CEX will not be as unstable as that of DEX.

[0077] In the current DA trading, the trading price relative to the "fiat currency" used as a reference is used as a reference price, and DA is in a situation of being exchanged with fiat currency. In the DA exchange system, the inventor of this case discloses the exchange rate with fiat currency as a "reference price", but in actual exchanges, the use of fiat currency is significantly reduced, or it is considered to be settled without using fiat currencies.

[0078] In the future DX evolution, if DA becomes popular, it is assumed that major DAs will become the main axis of circulation instead of fiat currency. In particular, it is predicted that DAs of major commodities (hereinafter referred to as major DAs) will emerge as an alternative to fiat currency.

[0079] When the economy heads towards the fourth industry centered on DX, it is considered that the main workers in the fourth industry will be machines (computer processing logics such as AI). However, even if machines become the center of the workers, there are doubts as to whether machines can understand the value of fiat currency like humans.

[0080] This is because the object that machines value most is the energy that serves as the driving force for operating the machines, specifically, electricity and the like. Therefore, as DX progresses, if the importance of value shifts from fiat currency to energy in the new economic circle where these machines are assumed to be the main workers, the value of fiat currency may tend to decline (inflation), and it is considered that it will become difficult to maintain the value of fiat currency in the current world.

[0081] Similarly, in the fourth industry centered on DX, the main workers, together with machines, the network configuration (especially next-generation communication) that constitutes M2M becomes important, and as the circulation tokens in M2M, tokens such as communication rights trading, together with electricity and reference energy, are considered to become the main tokens for exchange.

[0082] In fact, the spot price of electricity in the physical market tends to fluctuate significantly, and fixed-price contracts reach their limits. Therefore, in trading areas mainly composed of "machines" without the concept of credit, it is considered that electricity trading and supply will be carried out based on the "spot price".

[0083] When a machine receives legal tender as consideration for labor, the instability of the price of legal tender becomes a problem, and it is assumed that the "electricity" or the "energy right" itself with fixed rights will be the object of receipt as consideration for labor. Therefore, in the era of advancing digital transformation, major DAs are likely to be used more frequently for value exchange and settlement as the center of the economy, and may become the center of value.

[0084] Next, the inventor of this case considered the situation where major DAs are increasingly used for settlement. When a machine uses a major DA (the right to electricity or energy) for settlement, people will also become interested in the major DA whose value is increasing. At that time, legal tender will tend to be inflationary, i.e., its value will decline relative to the DA, and people will tend to desire to own not only legal tender but also major DAs.

[0085] In that case, there is no problem because there is an environment for mutually exchanging legal tender and major DAs. However, when using major DAs for settlement and clearing in transactions with other DAs, it is considered that the validity of value exchange between DAs becomes difficult to understand.

[0086] Also, for example, even when legal tender is used as the value standard, the validity of value exchange with DAs is considered difficult to understand. In Japan, the validity of value can be grasped centered on ¥, the unit of legal tender. However, assuming that the value notation in Japan is replaced from ¥ to US$, for many people, it becomes difficult to easily grasp the validity of prices in domestic transactions in terms of that value notation in US$. That is, humans grasp the validity of value using value criteria based on convention and cannot calculate value with simple logic using different value criteria like a machine.

[0087] The inventor of the present invention considered specifying a value criterion by which a human can grasp the validity of value (specifying ¥, which is the unit of legal tender in the case of Japanese people) in DA transactions and the like involving humans, and displaying the exchange rate in terms of legal tender (¥ in Japan) for the DA to be traded using the specified value criterion. Then, the inventor considered enabling actual exchange between DAs through such display of the exchange rate.

[0088] That is, the inventor of the present invention considered enabling direct exchange between DAs without using legal tender, where the information used for intermediating transactions (exchange rate with legal tender) based on the exchange rate in terms of the unit of legal tender as the value criterion is different from the exchange targets in actual settlement and clearing in DA transactions in the DA exchange system.

[0089] Originally, when implementing a process for exchanging DAs in a system, it may be considered to convert DAs into legal tender once and perform an exchange process with the other party's DAs using that legal tender. In contrast, the inventor of the present invention considered enabling efficient settlement and the like between DAs without necessarily converting DAs into legal tender in the DA exchange system. As a logic, the inventor considered fusing the currency-based intermediation type and the direct exchange type, integrating them into a single board, and enabling recognition of the relative positions of their values (validity of prices).

[0090] In the DA exchange system, the inventor of the present invention aims to set the exchange rate between the legal tender and the DA (designated DA) specified by a human at the time of liquidation based on the object visually recognized by the human. On the other hand, in actual settlement and clearing, it is considered that the DAs desired to be exchanged with each other by humans who are parties to the DA transaction are targeted. Humans who are parties to the liquidation exchange with each other using the designated DAs they desire, but when exchanging, they do not necessarily exchange the designated DAs with legal tender in advance. (Directly processing two DAs) Different from the above-mentioned UNISWAP, it is considered that the exchange between the designated DA and the legal tender can be carried out through the market rather than by humans who are parties to the liquidation.

[0091] Furthermore, UNISWAP has the concept of exchanging two DAs one-to-one. However, in the DA swap system studied and considered by the inventor of the present case, it is considered that exchanges between DAs can be carried out by means of complex combinations of many-to-many DA brands. By doing so, it is considered that price validity and stability can be realized.

[0092] Then, in the DA exchange system, the inventor of the present invention further conducted studies and considerations to achieve the purpose that a human who desires to conduct a DA transaction can easily grasp the validity of the value of the DA, conduct reliable transactions at a stable transaction price, can settle without using legal tender, and can further conduct exchanges between DAs by means of complex combinations of many-to-many.

[0093] Consideration and examination of specific measures As a specific measure to achieve the above object, the inventor of the present application considered combining the following three basic processes.

[0094] (Measure 1) Consideration and examination of the exchange function between "major DA" and a certain "currency" As the first basic process, the inventor of the present invention considered providing an exchange function between "major DA" and some kind of "legal tender" at the time of startup. Then, it was considered that this exchange information (exchange rate, etc.) would be distributed on the network. Actually, it is made possible to exchange DA of UT (Utility Token) and ST (Security Token) with legal tender. Here, in addition to the exchange rate, information indicating the strength of liquidity is added to the exchange information. The exchange function between UT (Utility Token) and ST (Security Token) is to store a large number of orders inside the system and share the order information.

[0095] In these DA exchanges, there are a large number of participants, including those with their own pricing discovery functions such as market makers (MM) who price at their own risk, and trading types that manage orders in a board format and execute transactions when conditions cross. It was considered to have various methods.

[0096] Then, it was considered to share various order management information such as this dealing and trading on the network, as well as board information and multiple sentiment information, and to collect huge liquidity information. Thereby, for sell and buy orders, it was considered to be able to instantaneously calculate which one has an advantage (in a specific price range: for example, in each range such as the first stage being within ±5% of the reference price, the second stage being within ±10% of the reference price, the third stage being within ±20% of the reference price, which one has a larger total volume of sell and buy orders, and the magnitude of the volatility of the total agreed price over 5 minutes, etc.) based on the information.

[0097] In addition, it was considered to set a reference price. The reference price was considered to refer to the transaction prices for about 5 to 10 minutes and set its weighted average value, etc. Also, when there is no agreement within that time, it was considered to set the "previous reference price". In that case, for example, it was considered to add a "caution" flag. Since this function is basically targeted at novice traders who have difficulty judging the validity of transaction prices, it was considered to aggregate the data that serves as the basis for such validity. That is, it was considered that even if the person is a novice trader, if they can judge the price validity, they can conduct transactions believing in the exchange rate. Also, it was considered to automatically set the spread width of the exchange rate, etc. based on the volatility of such information, and present the exchange rate based on the assumed transaction volume.

[0098] For example, if the assumed transaction volume is about 500,000 yen, it is the rate based on the first-stage initial information. Up to about 2 million yen, it is up to the second stage of the comprehensive board. For up to 5 million yen, it is the total up to the third stage of the comprehensive board. For cases where the assumed transaction volume exceeds this, it was considered that instead of immediate processing by the exchange function, it would be treated separately by the dedicated market side as a large order. Also, it was considered to automatically correct the % settings for the first stage, second stage, etc. based on the volatility situation with respect to the basic setting values. And it was considered to divide the DA exchange service into those for the first stage, second stage, and third stage with respect to the transaction amount, and basically make the central information into these three types (it may increase or decrease further).

[0099] It was considered to share the exchange rates of pairs of major DAs and currencies for the first to third levels among systems in this way. In actuality, it was considered to distribute the weighted average with respect to the first to third levels as the indicative price for the indicative price.

[0100] (Measure 2) Consideration and examination of the function to exchange "major DAs" with each other The inventor of this case considered providing an exchange function for "major DAs with each other" as the second basic process. In reality, there are multiple combined elements of major DAs, such as gold and power, power and energy, etc. Basically, considering taking the energy element with currency-level creditworthiness as the main body of the major DA and setting it as an equivalent to the base currency (rather than as a substitute for currency), we thought of doing so. This energy-based major DA is a reference index like the joule token (J) which comprehensively converts, aggregates, and adjusts commodity-based items such as gas, crude oil, and secondary processed products produced therefrom (such as gasoline, light oil, kerosene, heavy oil, etc.), electricity, communication rights, and CO 2 Emission rights, etc., into joules. Also, in a broad sense, there are hard (resource: watt standard) and soft (agricultural: calorie standard) types of energy-based major DAs. The inventor of this case also assumes creating an integrated energy-based major DA that combines the two.

[0101] Also, for hard, soft, and integrated major DAs, we considered expressing the energy unit as joules. The conversion rate of 1J is the amount of heat equivalent to the work done when a force of 1N (Newton) moves an object 1m (meter) in the direction of the force. From 1N·m = 1J and 1J / S = 1W (watt), 1KWh = 3600kJ (= 860kcal). Also, J should be set in national units. In the case of Japan, it will have a product name like Japan Joule (JJ). JJ will be uniformly used within Japan, but it can also be exchanged with overseas Js, etc.

[0102] Also, the inventor of this case considered codename - meaning the first digit of J as joule, W as watt (or hard), C as calorie (or soft) for the identification information of the energy-based major DA, and the second digit as country-specific, etc. Also, this JJ can be further adjusted slightly in value in the regions where it is used. For example, it can be expressed as JJ Hokkaido, JJ1, etc. Also, it should be possible to modify the value slightly depending on the time of use and the season. For example, the last item of JJ11 can be a time element, and a seasonal element can be added further downstream like JJ111. In this way, by adding detailed items to the subsequent digits in the identification information of the brand, it becomes possible to recognize small unit factors, and by being able to grasp their grouping, etc., it was considered possible to adjust between these small units.

[0103] The inventor of the present case considered making it possible to exchange each major DA based on this JJ. However, it is considered that there may also be a need to exchange other major DAs with each other without exchanging with JJ rarely. Therefore, the inventor of the present case considered creating the combination of major DAs induced from currency-based transactions in the same way as above in that case, incorporating the information of major DAs, currencies, and J into it, and providing an exchange environment for major DAs.

[0104] In this exchange environment for major DAs, it is considered that the user receives the rate in the specified currency and can make a trading decision based on that rate. For example, when trader A makes a purchase of 500 yen from trader B, assume that trader A desires payment in gold and trader B desires receipt in electricity. That combination is transmitted from the settlement function to the exchange function (smart contract) of gold and electricity, and that smart contract provides the rate of selling gold and buying electricity (a rate with the validity of a price at an acceptable level) for 500 yen (first-stage rate). Display the amount of gold required for payment for the display of 500 yen to trader A, and display the amount of electricity to be received for the display of 500 yen to trader B, and conduct a settlement agreement. And when the settlement agreement is reached, trader A delivers gold and trader B receives electricity.

[0105] In such a case, there is a trading board for gold and power. On this board, in addition to the orders that actually desire to exchange the relevant DA, various information such as information based on the exchange rates of gold and JJ, gold and ¥, gold and US$, and information based on the exchange rates of gold and JJ, gold and ¥, gold and US$ are integrated as if they are. Using such a board, the inventor of the present invention considered calculating an appropriate exchange amount for the corresponding combination of transactions and performing an exchange process in the DA exchange system. In calculating the exchange amount in this combination, there will inevitably be a fractional part. Regarding this fractional part, in the smart contract that conducts the relevant transactions and settlements, a market maker's own market-making function is made to exist, and it is considered that the market maker automatically absorbs the fractional part and conducts an agreement.

[0106] Also, this self-liquidity adjustment function is linked to a lending function (which conducts lending and borrowing of tokens). In cases where token borrowing is required depending on the situation, it is considered that lending can be automatically used to procure tokens and increase the liquidity (agreement rate). When a market maker uses lending, it is assumed that an opposite transaction can be made immediately even if tokens are borrowed and the agreement is processed. As a position, lending will be used within a predetermined limit range of plus or minus the token holding amount. On the other hand, when a market maker has a position that exceeds the limit range of the token holding amount, the excess amount of tokens is compulsorily subject to a stop-loss process. When lending is used, the repayment scheduled period is calculated from the trading situation, and the amount equivalent to the payment interest during that period can be automatically added to the trading spread (reflected in shared information such as rates).

[0107] (Measure 3) Consideration and examination of the exchange function between "minor NFTs, etc." and "major DA" As the third basic process, the inventor of the present invention considered the process when "minor NFTs, etc." are used for exchange with "major DA". First, it was considered to set basic information for judging value in the brand master of the corresponding NFT. In particular, the NFT has some factors for physical conversion and has value as a physical object. Therefore, naturally, it is necessary to organize the value information as a physical object. In addition, it was considered to set the factor factors for judging the value of the NFT and the strength of the factor factors (set the linked weight in factor units, and the higher the weight, the more the factor moves similarly to the price specified by the link. In the case of minus, it means the opposite correlation). The factors are weighted as a linked system with currency or major DA, and it was considered to automatically update this weighting regularly (for example, in units of one week) by comparing the transaction price situation.

[0108] As factor factors, it was considered to add minus and plus correction factors based on the original value level, for example, how much value it has relative to the reference currency. For example, in the case of rice NFTs, there are factors that determine the rice price, including rice standards (variety / origin, etc.), degree / condition, age such as old rice, etc., and the content is generated in NFT units (in this case, convertible NFTs).

[0109] Regarding the maintenance of this master, it was considered to be carried out by the autonomous body that is the issuing entity of the NFT and has the responsibility for exchange. In addition, the issuing entity of the NFT issues the NFT at any time, but like a market maker, it can respond to buybacks, and the bought-back ones can be resold or written off. Furthermore, it was considered to enable direct buying and selling of the NFT among customers in over-the-counter transactions, etc.

[0110] Regarding the DA to be exchanged for NFT, in particular, for DAs processed from major DAs, for example, if there is major crude oil, there is a world market for crude oil and its price validity is easy to judge. However, for gasoline, light oil, heavy oil, kerosene, etc. created based on that crude oil, it was considered possible to adjust the value of the fake factor based on the information of heavy oil. Also, for parts where resource energy such as gas is also likely to be linked, it was considered possible to set the linkage weight of the factor as a linkage factor.

[0111] Also, in reality, the issuer presents the price at which it sells NFT, the buyback price, etc. based on currency, but basically the spread becomes large. It was considered possible to manage buy and sell orders between individuals, etc. within the range of that spread and to effect a deal when it matches. That is, it was considered possible to integrally share master information, etc., automatically calculate the general value of NFT, but depending on the actual transaction situation, it is possible to correct the concepts of overpriced and underpriced in the current pricing and to form a normal price.

[0112] Furthermore, the inventor of the present invention also examined and considered the following matters as an extended concept. First, it was considered that orders for physical tokens should be entered on the base order board. On this order board for physical tokens, as a margin (deposit) transaction, leveraged orders for lending tokens can also be handled, but since this order is for borrowed tokens, it is a physical transaction.

[0113] By the way, as a transaction with excellent liquidity, there is a leveraged differential settlement transaction that does not use physicals like CFDs, is not a physical where the number of sell and buy contracts is the same, and is established. Since the underlying asset of this CFD transaction is a physical token, if the physical token board and the CFD board can be integrated, it will be a trading function with excellent liquidity. However, since CFD is a contract, these two processes cannot basically be integrated.

[0114] However, it is considered that by the intervention of the market maker himself in these two boards, the liquidity of each other's boards can be automatically adjusted. The market maker himself replaces the part of the order that crosses between the two boards to eliminate the slippage of the two boards. Therefore, as a process with unified board information, it is considered that the crossing sell and buy combination patterns can be separated. And it is considered that by integrating the liquidity of CFDs, futures, etc. into the physical board, more efficient transactions (settlements) can be induced.

[0115] As a result of repeating such considerations and examinations, the inventor of the present case has developed a digital asset swap system in which a trader who desires DA transactions can easily grasp the validity of the value of DA, conduct reliable transactions at a stable transaction price, can settle without using fiat currency, and can further exchange DAs with each other through a complex combination of many-to-many.

[0116] The digital asset swap system of the present invention is constructed with a distributed ledger in a distributed technology such as a blockchain, and a smart contract or a server application for performing predetermined processing using the data managed in the distributed ledger. Digital assets (digital currency-like things and commodity assets (precious metals (gold, etc.), CO 2A digital asset swap system that exchanges digital assets (DA) in the trading and settlement of a wide range of digital rights, including those obtained by tokenizing the right of exclusion, energy (such as crude oil and electricity), and those similar to digital securities. It has a basic processing board creation means that creates a basic processing board (individual trading board) denominated in a predetermined legal currency, consisting of an ask board showing the ask order quantity for each price based on the reference quantity in a predetermined trading (quantity) unit for each DA brand and a bid board showing the bid order quantity. It also has a first reference price ratio calculation means that uses the basic processing board (individual trading board) created by the basic processing board creation means, sets a predetermined price for each DA brand as the reference price, and calculates the ratio of each price in the basic processing board (individual trading board) to the reference price as the first reference price ratio. A first sell volume and buy volume calculation means that calculates the sell volume (= price × ask order quantity) and buy volume (= price × bid order quantity) for each price using each price and each sell order quantity in the basic processing board (individual trading board) created by the basic processing board creation means. A first reference price ratio conversion board creation means that creates a first reference price ratio conversion board arranging the sell volume and buy volume calculated by the first sell volume and buy volume calculation means for each first reference price ratio calculated by the first reference price ratio calculation means. A DA brand direct exchange board creation means that creates a direct exchange board between the first DA brand and the second DA brand based on the board information of the basic processing board (individual trading board) denominated in a predetermined legal currency of the first DA brand and the board information of the basic processing board (individual trading board) denominated in a predetermined legal currency of the second DA brand created by the basic processing board creation means. A multiple DA brand integrated board creation means that creates a multiple DA brand integrated board by integrating the first reference price ratio conversion boards for a plurality of DA brands created by the first reference price ratio conversion board creation means. A reference price ratio sorting means that sorts the board information of the multiple DA brand integrated board integrated by the multiple DA brand integrated board creation means in the order of the first reference price ratio (excluding those with a sell volume and buy volume of 0). The multiple DA brand integrated board includes the basic processing board (individual trading board), the first reference price ratio conversion board,A board information change control means having a function of controlling so that the content of the board information sorted in the plurality of DA brand integrated boards is also changed in synchronization with the direct exchange board between the first DA brand and the second DA brand and when the content of the reference price or board information is changed.

[0117] If configured to create a basic processing board (individual transaction board) denominated in a predetermined legal currency, consisting of a sell order board showing the sell order quantity for each price in units of a predetermined legal currency per reference quantity for a predetermined trading (quantity) unit for each DA brand and a buy order board showing the buy order quantity, as in the digital asset swap system of the present invention, settlement of DA via the legal currency becomes possible, and a trader who desires to trade DA can easily grasp the validity of the value of the DA.

[0118] Also, as in the digital asset swap system of the present invention, having a first sell / buy quantity calculation means, a first reference price ratio calculation means, and a first reference price ratio conversion board creation means, using the basic processing board (individual transaction board) created by the basic processing board creation means, taking a predetermined price for each DA brand as the reference price, calculating the ratio of each price in the basic processing board (individual transaction board) to the reference price as the first reference price ratio, using each price and each sell order quantity in the basic processing board (individual transaction board) created by the basic processing board creation means, calculating the sell quantity (= price × sell order quantity) and buy quantity (= price × buy order quantity) for each price, and creating a first reference price ratio conversion board in which the sell quantity and buy quantity calculated by the first sell / buy quantity calculation means are arranged for each first reference price ratio calculated by the first reference price ratio calculation means. In this configuration, it is possible to determine whether it is a bargain or overpriced relative to the reference price, and a trader who desires to trade DA can easily grasp the validity of the value of the DA.

[0119] Also, like the digital asset swap system of the present invention, having means for creating a direct exchange board for DA stocks, based on the board information of the basic processing board (individual transaction board) of a first DA stock in a predetermined legal currency created by the basic processing board creating means and the board information of the basic processing board (individual transaction board) of a second DA stock in a predetermined legal currency, if configured to create a direct exchange board between the first DA stock and the second DA stock, it becomes possible to perform a straightforward settlement (original barter) between DAs without going through legal currency.

[0120] Also, like the digital asset swap system of the present invention, having means for creating an integrated board for multiple DA stocks, if configured to create an integrated board for multiple DA stocks by integrating the first reference price ratio conversion boards for multiple DA stocks created by the first reference price ratio conversion board creating means, it becomes possible to exchange DAs through complex combinations of many-to-many.

[0121] Also, like the digital asset swap system of the present invention, having reference price ratio sorting means, if configured to sort the board information of the integrated board for multiple DA stocks integrated by the means for creating an integrated board for multiple DA stocks in the order of the first reference price ratio (excluding those with a selling volume and a buying volume of 0), it becomes possible to easily determine whether it is a bargain or overpriced relative to the reference price based on the reference price ratio.

[0122] Also, like the digital asset swap system of the present invention, having board information change control means, if configured such that the integrated board for multiple DA stocks is linked to the basic processing board (individual transaction board), the first reference price ratio conversion board, and the direct exchange board between the first DA stock and the second DA stock, and when the reference price or the content of the board information is changed, the content of the board information sorted in the integrated board for multiple DA stocks is also changed synchronously, it becomes possible to perform reliable transactions at stable trading prices.

[0123] Also, in the digital asset swap system of the present invention, preferably, the DA stock direct exchange board creation means has a board information order conversion board creation means having a function of creating a board information order conversion board of the first DA stock in which the order of the sell order quantity, buy order quantity, and price in the basic processing board (individual transaction board) of the first DA stock is converted to the reverse order, and the board information order conversion board of the first DA stock created by the board information order conversion board creation means, and the basic processing board (individual transaction board) of the second DA stock, respectively, a first and second DA stock sell and buy quantity calculation control means having a function of calculating the sell quantity and buy quantity for each price via the first sell and buy quantity calculation means; a buy and sell order price association means having a function of associating the board information order conversion board of the first DA stock with the basic processing board (individual transaction board) of the second DA stock such that the price of the highest buy order in the board information order conversion board of the first DA stock corresponds to the price of the lowest sell order in the basic processing board (individual transaction board) of the second DA stock; a DA stock exchange ratio calculation means having a function of calculating an exchange ratio of the second DA stock in terms of the first DA stock (quantity of the first DA stock that can be exchanged for the second DA stock of the reference quantity (=1) of a predetermined transaction (quantity) unit = price of the second DA stock / price of the first stock) using the respective prices in the board information order conversion board of the first DA stock and the basic processing board (individual transaction board) of the second DA stock associated by the buy and sell order price association means; a first order board data creation means having a function of creating order board data for a first transaction in which the second DA stock is sold and the first DA stock is bought in terms of the first DA stock; and a second order board data creation means having a function of creating order board data for a second transaction in which the second DA stock is bought and the first DA stock is sold in terms of the first DA stock. With such a configuration, it becomes possible to embody a configuration that enables direct settlement (original barter) between DAs without going through fiat currency.

[0124] Also, in the digital asset swap system of the present invention, preferably, the first order board data creation means calculates the amount obtained by converting the selling volume of the second DA brand based on the first DA brand (= the selling volume of the second DA brand / the exchange ratio of the second DA brand in terms of the first DA brand calculated by the DA brand exchange ratio calculation means), and has a second DA brand selling volume conversion means having a function of calculating this amount, and in a first transaction of selling the second DA brand and buying the first DA brand, the first available transaction amount (the smaller of the amount obtained by converting the selling volume of the second DA brand based on the first DA brand calculated by the second DA brand selling volume conversion means and the buying volume of the first DA brand) is extracted, and has a first available transaction amount extraction means having a function of extracting this amount, and in a first transaction of selling the second DA brand and buying the first DA brand, the upper limit value of the delivery volume of the second DA brand in the first transaction (in the first transaction of selling the second DA brand and buying the first DA brand, the first available transaction amount extracted by the first available transaction amount extraction means / the price of the second DA brand × the exchange ratio of the second DA brand in terms of the first DA brand calculated by the DA brand exchange ratio calculation means) is calculated, and has an upper limit value calculation means of the delivery volume of the second DA brand in the first transaction having a function of calculating this amount, and in a first transaction of selling the second DA brand and buying the first DA brand, the upper limit value of the delivery volume of the first DA brand corresponding to the upper limit value of the delivery volume of the second DA brand in the first transaction calculated by the upper limit value calculation means of the delivery volume of the second DA brand in the first transaction (in the first transaction of selling the second DA brand and buying the first DA brand, the first available transaction amount extracted by the first available transaction amount extraction means / the price of the first DA brand × the exchange ratio of the second DA brand in terms of the first DA brand) is calculated, and has an upper limit value calculation means of the delivery volume of the first DA brand in the first transaction having a function of calculating this amount. With such a configuration, it becomes possible to embody a configuration that enables direct settlement (original barter) between DAs without going through fiat currency in the first transaction of selling the second DA brand and buying the first DA brand.

[0125] Also, in the digital asset swap system of the present invention, preferably, the second order board data creation means calculates the amount obtained by converting the buy amount of the second DA stock based on the first DA stock (= the buy amount of the second DA stock / the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means). It has a buy amount conversion means for the second DA stock having a function of calculating, and in the second transaction of buying the second DA stock and selling the first DA stock, the second available transaction amount (the amount calculated by the buy amount conversion means for the second DA stock, the amount of the buy amount of the second DA stock converted based on the first DA stock, and the sell amount of the first DA stock, whichever is smaller). It has a second available transaction amount extraction means having a function of extracting, and in the second transaction of buying the second DA stock and selling the first DA stock, the upper limit value of the transfer amount of the second DA stock in the second transaction (in the second transaction of buying the second DA stock and selling the first DA stock, the second available transaction amount extracted by the second available transaction amount extraction means / the price of the second DA stock × the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means). It has an upper limit value calculation means for the transfer amount of the second DA stock in the second transaction having a function of calculating, and in the second transaction of buying the second DA stock and selling the first DA stock, the upper limit value of the transfer amount of the first DA stock corresponding to the upper limit value of the transfer amount of the second DA stock in the second transaction calculated by the upper limit value calculation means for the transfer amount of the second DA stock in the second transaction (in the second transaction of buying the second DA stock and selling the first DA stock, the second available transaction amount extracted by the second available transaction amount extraction means / the price of the first DA stock × the exchange ratio of the second DA stock in terms of the first DA stock). It has an upper limit value calculation means for the transfer amount of the first DA stock in the second transaction having a function of calculating. With such a configuration, it becomes possible to embody a configuration that enables a direct settlement (original barter) between DAs without going through fiat currency in the second transaction of buying the second DA stock and selling the first DA stock.

[0126] Also, in the digital asset swap system of the present invention, preferably, in a transaction of one DA stock, when there are combinations of multiple types of legal currency units and transaction (quantity) units as board information, there is a function to convert (unify) them into a predetermined combination of legal currency units and transaction (quantity) units. There is a combination unification means of legal currency units and transaction (quantity) units, and using the board in which the combination of legal currency units and transaction (quantity) units has been converted (unified) by the combination unification means of legal currency units and transaction (quantity) units, with a predetermined price of the DA stock as the reference price, and calculating the ratio of each price of the converted (unified) board to the reference price as the second reference price ratio. There is a second reference price ratio calculation means having such a function, and using the price and sell order quantity in the board in which the combination of legal currency units and transaction (quantity) units has been converted (unified) by the combination unification means of legal currency units and transaction (quantity) units, there is a function to calculate the sell volume and buy volume for each price. There is a second sell volume and buy volume calculation means having such a function, and for each of the second reference price ratios calculated by the second reference price ratio calculation means, there is a function to create a second reference price ratio conversion board arranging the sell volume and buy volume calculated by the second sell volume and buy volume calculation means. There is a second reference price ratio conversion board creation means having such a function, and the plurality of DA stock integrated board creation means has a function to create a plurality of DA stock integrated boards by integrating the first reference price ratio conversion boards for the plurality of DA stocks created by the first reference price ratio conversion board creation means and / or the second reference price ratio conversion boards for the plurality of DA stocks created by the second reference price ratio conversion board creation means. The reference price ratio sorting means has a function to sort the board information of the plurality of DA stock integrated boards integrated by the plurality of DA stock integrated board creation means in the order of the first reference price ratio and / or the second reference price ratio (excluding those with sell volume and buy volume of 0). The board information change control means is interlocked with the plurality of DA stock integrated boards being the basic processing board (individual transaction board), the first reference price ratio conversion board, the direct exchange board between the first DA stock and the second DA stock, the board in which the combination of legal currency units and transaction (quantity) units has been converted (unified), and the second reference price ratio conversion board, and synchronously when the content of the reference price and board information is changed,It has a function to control so that the content of the board information sorted in the plurality of DA stock integration boards is also changed.

[0127] Like the digital asset swap system of the present invention, it has a means for unifying the combination of legal currency units and trading (quantity) units. In the trading of one DA stock, when there are combinations of multiple types of legal currency units and trading (quantity) units as board information, if it is configured to convert (unify) to a predetermined combination of legal currency units and trading (quantity) units, it becomes possible to conduct advantageous transactions by converting to a "combination of legal currency units and trading (quantity) units" that is cheaper.

[0128] Also, like the digital asset swap system of the present invention, it has a second reference price ratio calculation means, a second sales volume and purchase volume calculation means, and a second reference price ratio conversion board creation means. Using the board in which the combination of legal currency units and trading (quantity) units is converted (unified) by the combination unification means of legal currency units and trading (quantity) units, a predetermined price of the DA stock is used as the reference price, and the ratio of each price of the converted (unified) board to the reference price is calculated as the second reference price ratio. Using the price and the sell order quantity in the board in which the combination of legal currency units and trading (quantity) units is converted (unified) by the combination unification means of legal currency units and trading (quantity) units, the sell volume and the buy volume for each price are calculated. For each of the second reference price ratios calculated by the second reference price ratio calculation means, if it is configured to create a second reference price ratio conversion board in which the sell volume and the buy volume calculated by the second sales volume and purchase volume calculation means are arranged, it becomes possible to determine whether it is cheaper or more expensive relative to the reference price, and it becomes possible for a trader who desires to trade DA to easily grasp the validity of the value of DA.

[0129] Also, in a digital asset swap system of the present invention, if the plurality of DA symbol integrated board creation means creates a plurality of DA symbol integrated boards by integrating the first reference price ratio conversion board for the plurality of DA symbols created by the first reference price ratio conversion board creation means and / or the second reference price ratio conversion board for the plurality of DA symbols created by the second reference price ratio conversion board creation means, it becomes possible to determine overpriced and underpriced for each reference price in the case of exchanging DAs by a complex combination of many-to-many.

[0130] Also, in a digital asset swap system of the present invention, if the reference price ratio sorting means sorts the board information of the plurality of DA symbol integrated boards integrated by the plurality of DA symbol integrated board creation means in the order of the first reference price ratio and / or the second reference price ratio (excluding those with zero selling and buying amounts), it becomes possible to easily determine underpriced and overpriced for the reference price based on the reference price ratio.

[0131] Also, in a digital asset swap system of the present invention, if the board information change control means controls such that when the plurality of DA symbol integrated boards are linked to the basic processing board (individual transaction board), the first reference price ratio conversion board, the direct exchange board between the first DA symbol and the second DA symbol, the board in which the combination of the legal currency unit and the transaction (quantity) unit is converted (unified), and the second reference price ratio conversion board, and the content of the reference price and the board information is changed, the content of the board information sorted in the plurality of DA symbol integrated boards is also changed synchronously, it becomes possible to perform reliable transactions at stable transaction prices.

[0132] Also, in the digital asset swap system of the present invention, preferably, the combination unification means of the legal currency unit and the transaction (quantity) unit has a function of creating a board by converting the board information of the basic processing board (individual transaction board) created as a combination of the legal currency unit: dollar and the transaction (quantity) unit: ounce as board information in the transaction of the first DA symbol into a board with the legal currency unit: yen and the transaction (quantity) unit: gram. With such a configuration, it becomes possible to embody a configuration for conducting advantageous transactions by converting to an inexpensive "combination of a legal currency unit and a transaction (quantity) unit".

[0133] Further, in the digital asset swap system of the present invention, preferably, the reference price ratio sorting means has a function of adding an identifier such as a flag indicating the original DA brand in the individual board information of the sorted data, and has original DA brand identifier information adding means. With such a configuration, it becomes possible to recognize the original DA brand of each piece of board information shown on the integrated board that unifies each DA brand, etc., and to determine whether it is overpriced or underpriced with respect to each reference price relative to other brands for the original DA brand.

[0134] Further, in the digital asset swap system of the present invention, preferably, after the content of the reference price and the board information in the basic processing board (individual transaction board), the first reference price ratio conversion board, and the direct exchange board between the first DA brand and the second DA brand are changed, the board information sorting means has a function of changing the content of the board information sorted in the plurality of DA brand integrated boards at a predetermined interval such as in units of 0.5 seconds. With such a configuration, it becomes possible to reduce the processing load compared to the case of constantly performing recalculation for changing the board information content, and to improve the processing efficiency.

[0135] Further, in the digital asset swap system of the present invention, preferably, after the content of the reference price and the board information in the basic processing board (individual transaction board), the first reference price ratio conversion board, the direct exchange board between the first DA brand and the second DA brand, the board in which the combination of the legal currency unit and the transaction (quantity) unit is converted (unified), and the second reference price ratio conversion board are changed, the board information sorting means has a function of changing the content of the board information sorted in the plurality of DA brand integrated boards at a predetermined interval such as in units of 0.5 seconds. With such a configuration, it becomes possible to reduce the processing load compared to the case of constantly performing recalculation for changing the board information content, and to improve the processing efficiency.

[0136] Further, in the digital asset swap system of the present invention, preferably, the plurality of DA symbol integrated board creating means has a function of creating the plurality of DA symbol integrated boards by arranging the board information of the same DA symbol with different exchange rates and trading volumes in the same column. With such a configuration, it becomes possible to easily determine overpriced and underpriced for each reference price of the same DA symbol with different exchange rates and trading volumes.

[0137] Further, in the digital asset swap system of the present invention, preferably, the plurality of DA symbol integrated board creating means has a function of creating the plurality of DA symbol integrated boards by shifting the board information of different DA symbols in horizontal columns. With such a configuration, it becomes possible to easily visually recognize the board information for each DA symbol.

[0138] Further, in the digital asset swap system of the present invention, preferably, when different DA symbols between two parties are in a cross state in the plurality of DA symbol integrated boards, the integrated board trading process control means having a function of controlling so that the DAs of the two parties are exchanged within the plurality of DA symbol integrated boards and the exchange process between DA and currency becomes unnecessary is further provided. With such a configuration, it becomes possible to directly exchange different DAs between two parties without intervening the exchange process between DA and currency.

[0139] Further, in the digital asset swap system of the present invention, preferably, the integrated board trading process control means has a function of controlling to unconditionally match the own lot of the market maker when in a cross state with the same DA symbol. With such a configuration, it becomes possible to ensure the liquidity of the same DA symbol.

[0140] In the digital asset swap system of the present invention, preferably, there is further provided liquidity analysis means having a function of determining whether selling or buying is dominant based on the order thickness of each board, and the integrated board trading process control means has a function of controlling to match the market maker's own position based on the board determined to be dominant by the liquidity analysis means. With such a configuration, it becomes possible to easily ensure the liquidity of DA stocks.

[0141] In the digital asset swap system of the present invention, preferably, when the liquidity analysis means determines that selling is dominant, the integrated board trading process control means has a function of controlling to match the selling of the market maker's own position for buy orders where the first reference price ratio and / or the second reference price ratio in the buy board is higher than 1. With such a configuration, it becomes possible to more easily ensure the liquidity of DA stocks.

[0142] In the digital asset swap system of the present invention, preferably, when the liquidity analysis means determines that buying is dominant, the integrated board trading process control means has a function of controlling to match the buying of the market maker's own position for sell orders where the first reference price ratio and / or the second reference price ratio in the sell board is lower than 1. With such a configuration, it becomes possible to more easily ensure the liquidity of DA stocks.

[0143] In the digital asset swap system of the present invention, preferably, when different DA stocks between two parties do not cross in the integrated board of the plurality of DA stocks, the integrated board trading process control means has a function of sending them back to the basic processing board (individual trading board) of the DA stock and controlling to perform the exchange process with each currency on the basic processing board (individual trading board). With such a configuration, it becomes possible to exchange different DA stocks in the best way according to the crossing state.

[0144] Further, in the digital asset swap system of the present invention, preferably, for a predetermined settlement amount when desiring to sell a predetermined DA brand at a predetermined reference price ratio, based on the price of the basic processing board (individual transaction board) linked to the reference price ratio, DA payment quantity calculation means having a function of calculating the payment quantity of the DA is provided; DA payment quantity presentation means having a function of presenting the payment quantity of the DA calculated by the DA payment quantity calculation means to the trader; for a predetermined settlement amount when desiring to buy a predetermined DA brand at a predetermined reference price ratio, based on the price of the basic processing board (individual transaction board) linked to the reference price ratio, DA receipt quantity calculation means having a function of calculating the receipt quantity of the DA is provided; DA receipt quantity presentation means having a function of presenting the receipt quantity of the DA calculated by the DA receipt quantity calculation means to the trader; and first settlement instruction receiving means having a function of receiving a settlement instruction from the paying-side trader who has received the presentation of the payment quantity of the DA by the DA payment quantity presentation means and the receiving-side trader who has received the presentation of the receipt quantity of the DA by the DA receipt quantity presentation means. With such a configuration, it becomes possible to perform the exchange process of the DA in small transaction (quantity) units such as 1 g, ¥1, or less than ¥1.

[0145] Further, in the digital asset swap system of the present invention, preferably, the plurality of DA brand integrated boards further have a function of creating a plurality of DA brand integrated boards with transaction prices, in which the transaction prices of the respective DA brands in the basic processing board (individual transaction board) are added. With such a configuration, without using the original board (basic processing board (individual transaction board)), when the settlement price is determined, it becomes possible to calculate the exchange quantity of the mutual DAs and perform the exchange process of the calculated quantity of DAs.

[0146] In the digital asset swap system of the present invention, preferably, based on the integrated board of a plurality of DA stocks with transaction prices created by the means for creating an integrated board of a plurality of DA stocks with transaction prices, there is provided a DA exchange quantity calculation means having a function of calculating the exchange quantity of DAs between traders when the settlement price is determined, a DA exchange quantity presentation means having a function of presenting the exchange quantity of the DA calculated by the DA exchange quantity calculation means to the trader, and a second settlement instruction reception means having a function of receiving a settlement instruction from the trader to whom the exchange quantity of the DA is presented by the DA exchange quantity presentation means. With such a configuration, it becomes possible to perform the exchange process of DAs in small trading (quantity) units of 1 g, ￥1, or less than ￥1 without using the original board (basic processing board (individual trading board)).

[0147] In the digital asset swap system of the present invention, preferably, the DA exchange quantity calculation means has a function of calculating, as the exchange quantity of the DA, a numerical value obtained by dividing the settlement price by the best bid price of the DA stock. With such a configuration, it becomes possible to embody the calculation of the exchange quantity of the DA by the DA exchange quantity calculation means.

[0148] In the digital asset swap system of the present invention, preferably, there is further provided a physical / CFD integrated board creation means having a function of creating a physical / CFD integrated board in which a physical board and a CFD (Contract For Difference) board are integrated. With such a configuration, it becomes possible to perform advantageous barter for a wider range of DA stocks.

[0149] In the digital asset swap system of the present invention, preferably, there is provided a CFD quantity adjustment means having a function of adjusting the quantity of CFDs to a quantity that matches the trading (quantity) unit of the physical goods. With such a configuration, it becomes possible to conduct transactions between CFDs and physical goods.

[0150] In addition, in the digital asset swap system of the present invention, preferably, there is physical quantity adjustment means having a function of adjusting the physical quantity to a quantity matched to the trading (quantity) unit of the CFD. With such a configuration, it becomes possible to conduct transactions between CFDs and physicals.

[0151] In addition, in the digital asset swap system of the present invention, preferably, there is further physical / CFD integrated board creation means having a function of creating a physical / CFD integrated board in which the board information of the physical board and the board information of the CFD (Contract For Difference) board with matched trading (quantity) units are fused as one board information. With such a configuration, it becomes possible to conduct transactions between CFDs and physicals in one board information.

[0152] In addition, in the digital asset swap system of the present invention, preferably, when the DA stock is an ST that conducts transactions using RTGS and DVP as settlement methods with different deliveries, there is DVP / RTGS integrated board creation means having a function of creating a DVP / RTGS integrated board in which the board information of DVP is integrated into the board information of RTGS, and there is delivery timing adjustment control means between the DVP trading ST and the RTGS trading ST having a function of controlling (basically adjusting mainly on the RTGS side) so that the deviation in delivery timing between the board information of DVP and the board information of RTGS is absorbed by the market maker itself for adjustment. With such a configuration, even in transactions of DA stocks using settlement methods with different deliveries, it becomes possible to exchange the DAs with each other.

[0153] In the digital asset swap system of the present invention, preferably, there is provided a major DA trading board creating means having a function of creating a major DA trading board for trading with a reference currency (such as yen) with respect to a DA (major DA) stock serving as a reference in creating board information for DA stocks, and a reference price calculating / setting means having a function of calculating and setting a reference price for each DA stock based on the trading situation on the major DA trading board created by the major DA trading board creating means. With such a configuration, it becomes possible to easily create board information for DA stocks other than the reference DA stock based on the board information of the reference DA stock.

[0154] In the digital asset swap system of the present invention, preferably, the reference price calculating / setting means has a function of calculating and setting the median price between the best ask and the best bid on the major DA trading board as the reference price. With such a configuration, it becomes possible to embody the reference price in the board information of the reference DA stock.

[0155] In the digital asset swap system of the present invention, preferably, when there is no median price between the best ask and the best bid for the major DA stock on the major DA trading board, the reference price calculating / setting means has a function of calculating and setting the weighted average of the transaction prices within a predetermined trading time such as the previous 5 minutes (changeable) as the reference price. With such a configuration, it becomes possible to embody the reference price in the board information of the reference DA stock.

[0156] In the digital asset swap system of the present invention, preferably, when there is no median price between the best ask and the best bid for the major DA issue on the major DA trading board, and there is no weighted average of the transaction prices within a predetermined trading time such as the previous 5 minutes (changeable), the reference price calculation / setting means calculates and sets, as the reference price, the reference price set immediately before or the value closer in time among the prices transacted immediately before. With this configuration, it becomes possible to embody the reference price in the board information of the reference DA issue.

[0157] In the digital asset swap system of the present invention, preferably, it further has a liquidity state volatility calculation means having a function of calculating the volatility (volatility) of the liquidity state of the DA issue. With this configuration, it becomes possible to grasp the trading risk of the DA issue based on the liquidity state volatility.

[0158] In the digital asset swap system of the present invention, preferably, when the number of transactions within a predetermined trading time such as the previous 5 minutes (changeable) for the DA issue is 20 (changeable) or more, the liquidity state volatility calculation means calculates the transaction volatility within the predetermined trading time and calculates the calculated transaction volatility as the volatility (volatility) of the liquidity state. With this configuration, it becomes possible to embody the calculation of the liquidity state volatility for the DA issue.

[0159] In the digital asset swap system of the present invention, preferably, when the number of transactions within a predetermined trading time such as the previous 5 minutes (changeable) for the DA stock is less than 20 (changeable), and when the sentiment of both selling and buying (the central value of selling and buying) within the predetermined trading time is 20 (changeable) or more, the liquidity state volatility calculating means calculates the volatility of both the selling sentiment and the buying sentiment within the predetermined trading time, and has a function of calculating the volatility of both the calculated selling sentiment and the buying sentiment as the volatility of the liquidity state. With such a configuration, it becomes possible to embody the calculation of the liquidity state volatility for the DA stock.

[0160] In the digital asset swap system of the present invention, preferably, when the number of transactions within a predetermined trading time such as the previous 5 minutes (changeable) for the DA stock is less than 20 (changeable), and when the sentiment of both selling and buying (the central value of selling and buying) within the predetermined trading time is less than 20 (changeable), the liquidity state volatility calculating means has a function of calculating the previously calculated volatility as the volatility of the liquidity state. With such a configuration, it becomes possible to embody the calculation of the liquidity state volatility for the DA stock.

[0161] In the digital asset swap system of the present invention, preferably, when creating an integrated board that unifies each DA stock for each major frame, when the reference price or the content of the board information is changed, the board information change control means repeats the recalculation of the content of the board information based on the reference price in synchronization, and based on the volatility of the liquidity state (volatility) for each DA stock calculated by the liquidity state volatility calculating means, has a function of correcting the first reference price ratio for the DA stock. With such a configuration, based on the liquidity state volatility, while determining the undervalue and overvalue of the reference price according to the trading risk of the DA stock, it becomes possible for traders who desire to trade DA to grasp the validity of the value of DA.

[0162] Further, in the digital asset swap system of the present invention, preferably, when creating an integrated board with each DA brand unified for each major frame, when the reference price or the content of the board information is changed, the board information change control means synchronizes and repeats the recalculation of the content of the board information based on the reference price. Based on the volatility (volatility) of the liquidity state for each DA brand calculated by the liquidity state change rate calculation means, it has a function of correcting the first reference price ratio and / or the second reference price ratio for the DA brand. With this configuration, it becomes possible for a trader who desires to trade DA to grasp the validity of the value of DA while determining whether it is undervalued or overvalued with respect to the reference price according to the trading risk of the DA brand based on the volatility of the liquidity state.

[0163] Further, in the digital asset swap system of the present invention, preferably, it has a reference price ratio correction table in which a correction amount (addition value or subtraction value) to the reference price ratio corresponding to the range of the volatility (volatility) of the liquidity state is set for each DA brand. The board information change control means collates the volatility (volatility) of the liquidity state for each DA brand calculated by the liquidity state change rate calculation means with the range of the volatility (volatility) of the liquidity state corresponding to the DA brand set in the reference price ratio correction table, and based on the correction amount (addition value or subtraction value) set in the range of the volatility (volatility) of the liquidity state, it has a function of correcting the first reference price ratio. With this configuration, it becomes possible to easily correct the reference price ratio based on the volatility (volatility) of the liquidity state for each DA brand.

[0164] Also, in the digital asset swap system of the present invention, preferably, there is a reference price ratio correction table in which a correction amount (addition value or subtraction value) to the reference price ratio according to the range of the volatility of the liquidity state is set for each DA stock, and the board information change control means uses the volatility of the liquidity state (volatility) for each DA stock calculated by the liquidity state volatility calculation means to collate with the range of the volatility of the liquidity state (volatility) corresponding to the DA stock set in the reference price ratio correction table, and based on the correction amount (addition value or production reduction value) set within the range of the volatility of the liquidity state, it has a function of correcting the first reference price ratio and / or the second reference price ratio. With such a configuration, it becomes possible to easily correct the reference price ratio based on the volatility of the liquidity state for each DA stock.

[0165] Therefore, according to the present invention, a trader who desires to trade DA can easily grasp the validity of the value of DA, and can conduct a reliable transaction at a stable transaction price, can settle without using legal tender, and furthermore, a digital asset swap system capable of exchanging DAs with each other in a complex combination of many-to-many can be obtained. Hereinafter, embodiments for carrying out the present invention will be described with reference to the drawings.

[0166] Embodiment FIG. 1 is an explanatory diagram schematically showing the overall configuration of a digital asset swap system according to an embodiment of the present invention. The digital asset swap system 1 of this embodiment is constructed with a distributed ledger in distributed technologies such as blockchain, and a smart contract or server application for performing predetermined processing using the data managed in the distributed ledger. For example, as shown in FIG. 1, it includes a basic processing board creation means 11, a first reference price ratio calculation means 12, a first sales volume and purchase volume calculation means 13, a first reference price ratio conversion board creation means 14, a DA stock direct exchange board creation means 15, a plurality of DA stock integration board creation means 16, a reference price ratio sorting means 17, a board information change control means 18, a combination unification means 19 for legal currency units and transaction (quantity) units, a second reference price ratio calculation means 20, a second sales volume and purchase volume calculation means 21, a second reference price ratio conversion board creation means 22, an original DA stock identifier information addition means 23, an integrated board transaction processing control means 24, a liquidity analysis means 25, a DA payment quantity calculation means 26, a DA payment quantity presentation means 27, a DA receipt quantity calculation means 28, a DA receipt quantity presentation means 29, a first settlement instruction reception means 30, a plurality of DA stock integrated board creation means 31 with transaction prices, a DA exchange quantity calculation means 32, a DA exchange quantity presentation means 33, a second settlement instruction reception means 34, a physical / CFD integrated board creation means 35, a CFD quantity adjustment means 36, a physical quantity adjustment means 37, a physical / CFD fusion board creation means 38, a DVP / RTGS integrated board creation means 39, a DVP transaction ST and RTGS transaction ST handover timing adjustment control means 40, a major DA transaction board creation means 41, a reference price calculation / setting means 42, and a liquidity state volatility rate calculation means 43.

[0167] Basic processing board creation means 11 The basic processing board creation means 11 has a function of creating a basic processing board (individual transaction board) 100 in a predetermined legal currency, which consists of a sell board showing the sell order quantity for each price in a predetermined legal currency per reference quantity in a predetermined transaction (quantity) unit for each DA stock, and a buy board showing the buy order quantity, as shown in FIG. 2 for example.

[0168] First reference price ratio calculation means 12 The first reference price ratio calculation means 12 is configured to have a function of calculating, for example, as shown in FIG. 3, using the basic processing board (individual transaction board) 100 created by the basic processing board creation means 11, taking a predetermined price for each DA issue as the reference price, and taking the ratio of each price in the basic processing board (individual transaction board) 100 to the reference price as the first reference price ratio.

[0169] First sales volume and purchase volume calculation means 13 The first sales volume and purchase volume calculation means 13 is configured to have a function of calculating, for example, as shown in FIG. 4, using each price and each sell order quantity in the basic processing board (individual transaction board) 100 created by the basic processing board creation means 11, the selling volume (= price × sell order quantity) and the buying volume (= price × buy order quantity) for each price.

[0170] First reference price ratio conversion board creation means 14 The first reference price ratio conversion board creation means 14 is configured to have a function of creating, for example, as shown in FIG. 5, a first reference price ratio conversion board 101 in which the selling volume and the buying volume calculated by the first sales volume and purchase volume calculation means 13 are arranged for each first reference price ratio calculated by the first reference price ratio calculation means 12.

[0171] DA brand direct exchange board creation means 15 The DA issue direct exchange board creation means 15 has, for example, as shown in FIG. 6, a board information arrangement order conversion board creation means 15-1, a first and second DA issue sales volume and purchase volume calculation control means 15-2, a buy and sell order price association means 15-3, a DA issue exchange ratio calculation means 15-4, a first order board data creation means 15-5, and a second order board data creation means 15-6, and is configured to have a function of creating, for example, as shown in FIG. 7, a direct exchange board 102 between the first DA issue and the second DA issue based on the board information of the basic processing board (individual transaction board) 100-1 in a predetermined legal currency denomination of the first DA issue created by the basic processing board creation means 11 and the board information of the basic processing board (individual transaction board) 100-2 in a predetermined legal currency denomination of the second DA issue.

[0172] Board information arrangement order conversion board creation means 15-1 The board information order conversion board creation means 15-1 has a function of creating, for example, as shown in FIG. 8, a board information order conversion board 104 of the first DA issue in which the order of the sell order quantity, buy order quantity, and price in the basic processing board (individual transaction board) 100-1 of the first DA issue is converted to the reverse order.

[0173] First and second DA brand sales volume and purchase volume calculation control means 15-2 The first and second DA issue sell and buy volume calculation control means 15-2 has a function of calculating, for example, as shown in FIG. 9, the sell volume and buy volume for each price in the board information order conversion board 104 of the first DA issue created by the board information order conversion board creation means 15-1 and the basic processing board (individual transaction board) 100-2 of the second DA issue via the first sell and buy volume calculation means 13.

[0174] Sales and purchase order price association means 15-3 The buy and sell order price association means 15-3 has a function of associating, for example, as shown in FIG. 10, the board information order conversion board 104 of the first DA issue and the basic processing board (individual transaction board) 100-2 of the second DA issue such that the price of the highest buy order in the board information order conversion board 104 of the first DA issue corresponds to the price of the lowest sell order in the basic processing board (individual transaction board) 100-2 of the second DA issue.

[0175] DA brand exchange ratio calculation means 15-4 The DA issue exchange ratio calculation means 15-4 has a function of calculating, for example, as shown in FIG. 11, the exchange ratio of the second DA issue in terms of the first DA issue (the quantity of the first DA issue that can be exchanged for the reference quantity (=1) of a predetermined transaction (quantity) unit of the second DA issue = the price of the second DA issue / the price of the first issue) using the respective prices in the board information order conversion board 104 of the first DA issue and the basic processing board (individual transaction board) 100-2 of the second DA issue associated by the buy and sell order price association means 15-3.

[0176] First order board data creation means 15-5 The first order board data creation means 15-5, for example, as shown in FIG. 12, has a second DA stock sales volume conversion means 15-5-1, a first available trading amount extraction means 15-5-2, a second DA stock delivery amount upper limit value calculation means 15-5-3 in the first transaction, and a first DA stock delivery amount upper limit value calculation means 15-5-4 in the first transaction, and is configured to have a function of creating order board data in a first transaction in which, for example, as shown in FIG. 13, the second DA stock is sold and the first DA stock is bought based on the first DA stock.

[0177] Second DA brand selling volume conversion means 15-5-1 The second DA stock sales volume conversion means 15-5-1, for example, as shown in FIG. 14, is configured to have a function of calculating an amount obtained by converting the sales volume of the second DA stock based on the first DA stock (= the sales volume of the second DA stock / the exchange ratio of the second DA stock based on the first DA stock calculated by the DA stock exchange ratio calculation means 15-4).

[0178] First available amount extraction means 15-5-2 The first available trading amount extraction means 15-5-2, for example, as shown in FIG. 15, is configured to have a function of extracting the first available trading amount (the smaller amount of the amount obtained by converting the sales volume of the second DA stock based on the first DA stock calculated by the second DA stock sales volume conversion means 15-5-1 and the purchase amount of the first DA stock) in a first transaction in which the second DA stock is sold and the first DA stock is bought.

[0179] Upper limit value calculation means for the transfer amount of the second DA brand in the first transaction 15-5-3 The upper limit calculation means 15-5-3 of the transfer quantity of the second DA brand in the first transaction is configured to have a function of calculating, for example, as shown in FIG. 16, the upper limit value of the transfer quantity of the second DA brand in the first transaction where the second DA brand is sold and the first DA brand is bought (the first transaction amount extracted by the first tradable amount extraction means 15-5-2 in the first transaction where the second DA brand is sold and the first DA brand is bought / the price of the second DA brand × the exchange ratio of the second DA brand in terms of the first DA brand calculated by the DA brand exchange ratio calculation means 15-4).

[0180] Upper limit value calculation means for the transfer amount of the first DA brand in the first transaction 15-5-4 The upper limit calculation means 15-5-4 of the transfer quantity of the first DA brand in the first transaction is configured to have a function of calculating, for example, as shown in FIG. 17, the upper limit value of the transfer quantity of the first DA brand corresponding to the upper limit value of the transfer quantity of the second DA brand in the first transaction calculated by the upper limit calculation means 15-5-3 of the transfer quantity of the second DA brand in the first transaction in the first transaction where the second DA brand is sold and the first DA brand is bought (the first transaction amount extracted by the first tradable amount extraction means 15-5-2 in the first transaction where the second DA brand is sold and the first DA brand is bought / the price of the first DA brand × the exchange ratio of the second DA brand in terms of the first DA brand).

[0181] Second order board data creation means 15-6 The second order board data creation means 15-6 has, for example, as shown in FIG. 18, a second DA brand buy quantity conversion means 15-6-1, a second tradable amount extraction means 15-6-2, an upper limit calculation means 15-6-3 of the transfer quantity of the second DA brand in the second transaction, and an upper limit calculation means 15-6-4 of the transfer quantity of the first DA brand in the second transaction, and is configured to have a function of creating order board data in the second transaction where the second DA brand is bought and the first DA brand is sold in terms of the first DA brand, for example, as shown in FIG. 19.

[0182] Second DA brand buying volume conversion means 15-6-1 The purchase quantity conversion means 15-6-1 of the second DA stock, for example, as shown in FIG. 20, has a function of calculating the quantity obtained by converting the purchase quantity of the second DA stock based on the first DA stock (= the purchase quantity of the second DA stock / the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means 15-4).

[0183] Second available amount extraction means 15-6-2 The second tradable amount extraction means 15-6-2, for example, as shown in FIG. 21, has a function of extracting the second tradable amount (the smaller of the quantity obtained by converting the purchase quantity of the second DA stock based on the first DA stock calculated by the purchase quantity conversion means 15-6-1 of the second DA stock and the selling quantity of the first DA stock) in the second transaction where the second DA stock is bought and the first DA stock is sold.

[0184] Upper limit value calculation means for the transfer amount of the second DA brand in the second transaction 15-6-3 The upper limit value calculation means 15-6-3 of the delivery quantity of the second DA stock in the second transaction, for example, as shown in FIG. 22, has a function of calculating the upper limit value of the delivery quantity of the second DA stock (the second tradable amount extracted by the second tradable amount extraction means 15-6-2 in the second transaction where the second DA stock is bought and the first DA stock is sold / the price of the second DA stock × the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means 15-4) in the second transaction where the second DA stock is bought and the first DA stock is sold.

[0185] Upper limit value calculation means for the transfer amount of the first DA brand in the second transaction 15-6-4 The upper limit value calculation means 15-6-4 of the transfer amount of the first DA stock in the second transaction is configured to have a function of calculating, for example, as shown in FIG. 23, the upper limit value of the transfer amount of the first DA stock corresponding to the upper limit value of the transfer amount of the second DA stock in the second transaction calculated by the upper limit value calculation means 15-6-3 of the transfer amount of the second DA stock in the second transaction in the second transaction where the second DA stock is bought and the first DA stock is sold (the second transaction amount extractable by the second transaction amount extractable means 15-6-2 in the second transaction where the second DA stock is bought and the first DA stock is sold / the price of the first DA stock × the exchange ratio of the second DA stock based on the first DA stock).

[0186] Multiple DA Stock Integration Board Creation Means 16 The integrated board creation means 16 for multiple DA stocks is configured to have the following functions, for example, as shown in FIG. 24. (16-1) A function of creating an integrated board 103 for multiple DA stocks by integrating the first reference price ratio conversion boards 101 for multiple DA stocks created by the first reference price ratio conversion board creation means 14. (16-2) A function of creating an integrated board 103 for multiple DA stocks by integrating the first reference price ratio conversion boards 101 for multiple DA stocks created by the first reference price ratio conversion board creation means 14 and / or the second reference price ratio conversion boards 106 for multiple DA stocks created by the second reference price ratio conversion board creation means 22. (16-3) A function of creating an integrated board 103 for multiple DA stocks by arranging the board information of the same DA stock with different exchange rates and trading volumes in the same column. (16-4) A function of creating an integrated board 103 for multiple DA stocks by shifting the board information of different DA stocks in the horizontal column.

[0187] Reference Price Ratio Sorting Means 17 The reference price ratio sorting means 17 is configured to have the following functions, for example, as shown in FIG. 25. (17-1) A function to sort the board information of multiple integrated DA stock boards 103 integrated by the multiple DA stock board integration means 16 in the order of the first reference price ratio (excluding those with zero selling and buying volumes). (17-2) A function to sort the board information of multiple integrated DA stock boards 103 integrated by the multiple DA stock board integration means 16 in the order of the first reference price ratio and / or the second reference price ratio (excluding those with zero selling and buying volumes).

[0188] Board Information Change Control Means 18 The board information change control means 18 is configured to have the following functions, for example, as shown in FIGS. 26 to 29. (18-1) A function to control such that when the multiple integrated DA stock boards 103 are interlocked with the basic processing board (individual transaction board) 100, the first reference price ratio conversion board 101, and the direct exchange board 102 between the first DA stock and the second DA stock, and the content of the reference price and the board information is changed, the content of the board information sorted in the multiple integrated DA stock boards 103 is also changed synchronously. (18-2) A function to control such that when the multiple integrated DA stock boards 103 are interlocked with the basic processing board (individual transaction board) 100, the first reference price ratio conversion board 101, the direct exchange board 102 between the first DA stock and the second DA stock, the board 105 in which the combination of the legal currency unit and the transaction (quantity) unit is converted (unified), and the second reference price ratio conversion board 106, and the content of the reference price and the board information is changed, the content of the board information sorted in the multiple integrated DA stock boards 103 is also changed synchronously. (18-3) A function to change the content of the board information sorted in the multiple integrated DA stock boards 103 at a predetermined interval such as in units of 0.5 seconds after the content of the reference price and the board information in the basic processing board (individual transaction board) 100, the first reference price ratio conversion board 101, and the direct exchange board 102 between the first DA stock and the second DA stock is changed. (18-4) A function to change the content of the board information sorted in the integrated DA issue board 103 at a predetermined interval such as every 0.5 seconds after the content of the reference price and board information in the basic processing board (individual transaction board) 100, the first reference price ratio conversion board 101, the direct exchange board 102 between the first DA issue and the second DA issue, the board 105 where the combination of the legal currency unit and the transaction (quantity) unit is converted (unified), and the second reference price ratio conversion board 106 is changed. (18-5) When creating an integrated board that unifies each DA issue for each major frame, when the content of the reference price and board information is changed, and when repeatedly recalculating the content of the board information based on the reference price in synchronization, a function to correct the first reference price ratio for the DA issue based on the volatility (volatility) of the liquidity state for each DA issue calculated by the liquidity state volatility calculation means 43. (18-6) When creating an integrated board that unifies each DA issue for each major frame, when the content of the reference price and board information is changed, and when repeatedly recalculating the content of the board information based on the reference price in synchronization, a function to correct the first reference price ratio and / or the second reference price ratio for the DA issue based on the volatility (volatility) of the liquidity state for each DA issue calculated by the liquidity state volatility calculation means 43. (18-7) A function to compare the volatility (volatility) of the liquidity state for each DA issue calculated by the liquidity state volatility calculation means 43 with the range of the volatility (volatility) of the corresponding liquidity state set for the DA issue in the reference price ratio correction table 112, and to correct the first reference price ratio for the DA issue based on the correction amount (addition value or subtraction value) set within the range of the volatility (volatility) of the liquidity state. A function that collates the volatility (variation rate of the liquidity state) for each DA stock calculated by the liquidity state variation rate calculation means 43 with the range of the volatility (variation rate of the liquidity state) corresponding to the relevant DA stock set in the reference price ratio correction table 112, and corrects the first reference price ratio and / or the second reference price ratio for the relevant DA stock based on the correction amount (addition value or production reduction value) set within the range of the volatility (variation rate of the liquidity state).

[0189] Combination Unification Means for Legal Currency Unit and Transaction (Quantity) Unit 19 The combination unification means 19 for the legal currency unit and the trading (quantity) unit has a function of converting (unifying) to a predetermined combination of the legal currency unit and the trading (quantity) unit, for example, as shown in FIG. 30, when there are multiple types of combinations of the legal currency unit and the trading (quantity) unit as board information in the trading of one DA stock.

[0190] Second Reference Price Ratio Calculation Means 20 The second reference price ratio calculation means 20 has a function of calculating, for example, as shown in FIG. 31, using the board 105 in which the combination of the legal currency unit and the trading (quantity) unit has been converted (unified) by the combination unification means 19 for the legal currency unit and the trading (quantity) unit, taking a predetermined price of the relevant DA stock as the reference price, and taking the ratio of each price of the converted (unified) board 105 to the reference price as the second reference price ratio.

[0191] Second Sales Volume and Purchase Volume Calculation Means 21 The second sales volume and purchase volume calculation means 21 has a function of calculating the selling volume and the buying volume for each price, for example, as shown in FIG. 32, using the price and the sell order quantity in the board 105 in which the combination of the legal currency unit and the trading (quantity) unit has been converted (unified) by the combination unification means 19 for the legal currency unit and the trading (quantity) unit.

[0192] Second Reference Price Ratio Conversion Board Creation Means 22 The second reference price ratio conversion board creation means 22 is configured to have a function of creating a second reference price ratio conversion board 106 in which the selling volume and buying volume calculated by the second selling volume / buying volume calculation means 21 are arranged for each second reference price ratio calculated by the second reference price ratio calculation means 20, as shown in FIG. 33, for example.

[0193] Original DA Stock Identifier Information Addition Means 23 The original DA stock identifier information addition means 23 is configured to have a function of adding an identifier such as a flag indicating the original DA stock to each board information of the data sorted by the reference price ratio sorting means 17, as shown in FIG. 34, for example.

[0194] Integrated Board Transaction Processing Control Means 24 The integrated board trading process control means 24 is configured to have the following functions, as shown in FIGS. 35 to 37, for example. (24-1) When different DA stocks between two parties are in a cross state in the plurality of DA stock integrated board 103, a function of exchanging the DAs of the two parties within the plurality of DA stock integrated board and controlling so that the exchange process between DA and currency becomes unnecessary. (24-2) When in a cross state with the same DA stock, a function of controlling to unconditionally match the market maker's own stock. (24-3) A function of controlling to match the market maker's own stock based on the board on the side determined to be superior by the liquidity analysis means 25. (24-4) When it is determined by the liquidity analysis means 25 that selling is superior, a function of controlling to match the market maker's own selling stock for a buy order in which the first reference price ratio and / or the second reference price ratio on the buy board is higher than 1. (24-5) When it is determined by the liquidity analysis means 25 that buying is superior, a function of controlling to match the market maker's own buying stock for a sell order in which the first reference price ratio and / or the second reference price ratio on the sell board is lower than 1. If different DA brands between (24-6) do not cross on the integrated board of the plurality of DA brands, they are sent back to the basic processing board (individual trading board) of the DA brand, and the basic processing board (individual trading board) is controlled to perform exchange processing with each currency.

[0195] Liquidity Analysis Means 25 The liquidity analysis means 25 is configured to have a function of judging which of selling and buying is dominant based on the order depth of each board, as shown in FIG. 38, for example.

[0196] DA Payment Quantity Calculation Means 26 The DA payment quantity calculation means 26 is configured to have a function of calculating the payment quantity of the DA based on the price of the basic processing board (individual trading board) 100 linked to the reference price ratio for a predetermined settlement amount when desiring to sell a predetermined DA brand at a predetermined reference price ratio, as shown in FIG. 39, for example.

[0197] DA Payment Quantity Presentation Means 27 The DA payment quantity presentation means 27 is configured to have a function of presenting the payment quantity of the DA calculated by the DA payment quantity calculation means 28 to the trader, as shown in FIG. 40, for example.

[0198] DA Receipt Quantity Calculation Means 28 The DA receipt quantity calculation means 28 is configured to have a function of calculating the receipt quantity of the DA based on the price of the basic processing board (individual trading board) 100 linked to the reference price ratio for a predetermined settlement amount when desiring to buy a predetermined DA brand at a predetermined reference price ratio, as shown in FIG. 41, for example.

[0199] DA Receipt Quantity Presentation Means 29 The DA receipt quantity presentation means 29 is configured to have a function of presenting the receipt quantity of the DA calculated by the DA receipt quantity calculation means 28 to the trader, as shown in FIG. 42, for example.

[0200] First Settlement Instruction Reception Means 30 The first settlement instruction receiving means 30 is configured to have a function of receiving a settlement instruction from the payer trader who has received the presentation of the payment quantity of the DA by the DA payment quantity presenting means 27 and the recipient trader who has received the presentation of the receipt quantity of the DA by the DA receipt quantity presenting means 29, as shown in FIG. 43, for example.

[0201] Multiple DA Stock Integrated Board Creation Means with Transaction Price 31 The means 31 for creating an integrated board of multiple DA brands with transaction prices is configured to have a function of creating an integrated board 107 of multiple DA brands with transaction prices, in which the transaction prices of each DA brand in the basic processing board (individual transaction board) 100 are added, on the integrated board 103 of multiple DA brands, as shown in FIG. 44, for example.

[0202] DA Exchange Quantity Calculation Means 32 The DA exchange quantity calculating means 32 is configured to have the following functions, as shown in FIG. 45, for example. (32-1) A function of calculating the exchange quantity of DAs between traders when the settlement price is determined, based on the integrated board 107 of multiple DA brands with transaction prices created by the means 31 for creating an integrated board of multiple DA brands with transaction prices. (32-2) A function of calculating, as the exchange quantity of the DA, the value obtained by dividing the settlement price by the best bid price of the DA brand.

[0203] DA Exchange Quantity Presentation Means 33 The DA exchange quantity presenting means 33 is configured to have a function of presenting the exchange quantity of the DA calculated by the DA exchange quantity calculating means 32 to the trader, as shown in FIG. 46, for example.

[0204] Second Settlement Instruction Reception Means 34 The second settlement instruction receiving means 34 is configured to have a function of receiving a settlement instruction from the trader who has been presented with the exchange quantity of the DA by the DA exchange quantity presenting means 33, as shown in FIG. 47, for example.

[0205] Physical / CFD Integrated Board Creation Means 35 The physical object·CFD integrated board creation means 35 is configured to have a function of creating a physical object·CFD integrated board 108 by integrating a physical object board and a CFD (Contract For Difference) board, as shown in FIG. 48, for example.

[0206] CFD Quantity Adjustment Means 36 The CFD quantity adjustment means 36 is configured to have a function of adjusting the quantity of CFD to a quantity that is consistent with the trading (quantity) unit of the physical object, as shown in FIG. 49, for example.

[0207] Physical Quantity Adjustment Means 37 The physical object quantity adjustment means 37 is configured to have a function of adjusting the quantity of the physical object to a quantity that is consistent with the trading (quantity) unit of CFD, as shown in FIG. 50, for example.

[0208] Physical / CFD Fusion Board Creation Means 38 The physical object·CFD integrated board creation means 38 is configured to have a function of creating a physical object·CFD integrated board 109 by integrating the board information of the physical object board and the board information of the CFD (Contract For Difference) board with the trading (quantity) units being consistent as one board information, as shown in FIG. 51, for example.

[0209] DVP / RTGS Integrated Board Creation Means 39 The DVP·RTGS integrated board creation means 39 is configured to have a function of creating a DVP·RTGS integrated board 110 by integrating the board information of DVP into the board information of RTGS when the DA issue is an ST that conducts transactions using RTGS and DVP as different settlement methods for delivery, as shown in FIG. 52, for example.

[0210] DVP Transaction ST and RTGS Transaction ST Handover Timing Adjustment Control Means 40 The DVP transaction ST and RTGS transaction ST mutual delivery timing adjustment control means 40 is configured to have a function of controlling (basically adjusting with the RTGS side as the main body) so as to absorb and adjust the deviation in the delivery timing between the board information of DVP and the board information of RTGS by the market maker itself, as shown in FIG. 53, for example.

[0211] Major DA Transaction Board Creation Means 41 The major DA trading board creation means 41 is configured to have a function of creating a major DA trading board 111 for conducting transactions with a reference currency (such as yen) with respect to a DA (major DA) symbol that serves as a reference in creating board information for DA symbols, as shown in FIG. 54, for example.

[0212] Reference Price Calculation / Setting Means 42 The reference price calculation / setting means 42 is configured to have the following functions, as shown in FIG. 55, for example. (42-1) A function of calculating and setting the reference price of each DA symbol based on the trading status on the major DA trading board 111 created by the major DA trading board creation means 41. (42-2) A function of calculating and setting the median price between the best ask and the best bid on the major DA trading board 111 as the reference price. (42-3) For the major DA symbol on the major DA trading board 111, when there is no median price between the best ask and the best bid, a function of calculating and setting the weighted average of the transaction prices within a predetermined trading time such as the previous 5 minutes (changeable) as the reference price. (42-4) For the major DA symbol on the major DA trading board 111, when there is neither a median price between the best ask and the best bid nor a weighted average of the transaction prices within a predetermined trading time such as the previous 5 minutes (changeable), a function of calculating and setting the numerical value that is closer in time among the previously set reference price and the previously transacted price as the reference price.

[0213] Liquidity State Variation Rate Calculation Means 43 The liquidity state volatility calculation means 43 is configured to have the following functions, as shown in FIG. 56, for example. (43-1) A function of calculating the volatility (volatility) of the liquidity state of the DA symbol. (43-2) For the DA issue, when the number of transactions within a predetermined trading time such as the previous 5 minutes (changeable) is 20 (changeable) or more, calculate the transaction fluctuation rate within the predetermined trading time, and calculate the calculated transaction fluctuation rate as the fluctuation rate (volatility) of the liquidity state. (43-3) For the DA issue, when the number of transactions within a predetermined trading time such as the previous 5 minutes (changeable) is less than 20 (changeable), and when the signs of both selling and buying (central values of selling and buying) within the predetermined trading time are 20 (changeable) or more, calculate the fluctuation rates of both the selling sign and the buying sign within the predetermined trading time, and calculate the calculated fluctuation rates of both the selling sign and the buying sign as the fluctuation rate (volatility) of the liquidity state. (43-4) For the DA issue, when the number of transactions within a predetermined trading time such as the previous 5 minutes (changeable) is less than 20 (changeable), and when the signs of both selling and buying (central values of selling and buying) within the predetermined trading time are less than 20 (changeable), calculate the previously calculated fluctuation rate as the fluctuation rate (volatility) of the liquidity state.

[0214] Reference Price Ratio Correction Table 112 The reference price ratio correction table 112 is configured by setting the correction amount (addition value or subtraction value) to the reference price ratio according to the range of the fluctuation rate (volatility) of the liquidity state for each DA issue.

[0215] In addition, the digital asset swap system 1 of the present embodiment includes basic processing means necessary for DA trading and settlement, such as an order means for DA issues (not shown), a settlement means for the agreed DAs (not shown), etc. Further, the order means for DA issues (not shown) is configured to be able to specify the DA to be paid and the DA to be received at the time of placing an order.

[0216] Flow of Processing Using the Digital Asset Swap System 1 of the Present Embodiment The processing flow in the digital asset swap system 1 of the present embodiment configured as described above will be described with reference to the drawings.

[0217] (Flow of Processing - Part 1) Flow of Basic Processing Board (Individual Transaction Board) Creation Processing for Each DA Stock (Fig. 57) Figure 57 is an explanatory diagram showing an example of the flow of the process of creating a basic processing board (individual trading board) for each DA stock using the digital asset swap system 1 of the present embodiment.

[0218] The basic processing board creation means 11 creates a basic processing board (individual trading board) 100 denominated in a predetermined legal currency, which consists of a sell order board showing the sell order quantity for each price in units of a predetermined legal currency for the reference quantity (=1) in a predetermined trading (quantity) unit for each DA stock, and a buy order board showing the buy order quantity.

[0219] Specific examples of the basic processing boards (individual trading boards) for each DA stock created by the basic processing board creation means 11 are shown in FIGS. 58 and 59 respectively. In this example, the first DA stock is "Gold" and the second DA stock is "Platinum". Also, the predetermined legal currency is ¥.

[0220] (Flow of Processing - Part 2) Flow of First Reference Price Ratio Conversion Board Creation Processing (Fig. 60) Figure 60 is an explanatory diagram showing an example of the flow of the process of creating the first reference price ratio conversion board using the digital asset swap system 1 of the present embodiment. The flow of the process of creating a board that calculates the ratio of each price of the basic processing board to the reference price so that the reference price is the reference value = 1 with the predetermined price as the reference price will be described. By creating such a board, it becomes possible to determine whether it is a bargain or overpriced relative to the reference price.

[0221] The first reference price ratio calculation means 12 uses the basic processing board (individual trading board) 100 created by the basic processing board creation means 11, sets the predetermined price for each DA stock as the reference price, and calculates the ratio of each price in the basic processing board (individual trading board) 100 to the reference price as the first reference price ratio so that the reference price is the reference value = 1. The first sell volume and buy volume calculation means 13 calculates the sell volume (= price × sell order quantity) and buy volume (= price × buy order quantity) for each price using each price and each sell order quantity in the basic processing board (individual trading board) 100 created by the basic processing board creation means 11. The first reference price ratio conversion board creation means 14 creates a first reference price ratio conversion board 101 in which the selling volume and buying volume calculated by the first selling / buying volume calculation means 13 are arranged for each first reference price ratio calculated by the first reference price ratio calculation means 12.

[0222] Specific examples of the first reference price ratio conversion board 101 created by the first reference price ratio calculation means 12, the first selling / buying volume calculation means 13, and the first reference price ratio conversion board creation means 14 are shown in FIGS. 61 and 62, respectively. In this example, it is assumed that the reference price of 1 g of the first DA brand "Gold" is 8,090 yen, and the reference price of 1 g of the second DA brand "Platinum" is 4,025 yen. Also, in FIGS. 61 and 62, "buying volume" and "selling volume" are shown in units of 1 million yen.

[0223] (Flow of Processing - Part 3) Flow of DA Stock Direct Exchange Board Creation Processing (Fig. 63) FIG. 63 is an explanatory diagram showing an example of the flow of the DA brand direct exchange board creation process using the digital asset swap system 1 of the present embodiment. The flow of the process of creating a direct exchange board (integrated board of two brands) will be described. When such a board is created, direct settlement (original barter) of DAs without going through fiat currency becomes possible.

[0224] The DA brand direct exchange board creation means 15 creates a direct exchange board 102 between the first DA brand (in this example, "Gold") and the second DA brand (in this example, "Platinum") based on the board information of the basic processing board (individual transaction board) 100-1 in the specified fiat currency (in this example, "￥") of the first DA brand (in this example, "Gold") created by the basic processing board creation means 11 and the board information of the basic processing board (individual transaction board) 100-2 in the specified fiat currency (in this example, "￥") of the second DA brand (in this example, "Platinum"). Then, an order for direct exchange can be placed on the created direct exchange board 102 between the first DA brand (in this example, "Gold") and the second DA brand (in this example, "Platinum"). Specifically, the board information order conversion board creation means 15-1 creates a board information order conversion board 104 for the first DA brand (in this example, "Gold") by converting the order of the sell order quantity, buy order quantity, and price in the basic processing board (individual transaction board) 100-1 of the first DA brand so that it is in reverse order. The first and second DA brand sell and buy quantity calculation and control means 15-2 causes the first sell and buy quantity calculation means 13 to calculate the sell quantity (= "price" × "sell order quantity") and buy quantity (= "price" × "buy order quantity") for each price in the board information order conversion board 104 of the first DA brand (in this example, "Gold") created by the board information order conversion board creation means 15-1 and the basic processing board (individual transaction board) 100-2 of the second DA brand (in this example, "Platinum"). The buy and sell order price association means 15-3 associates the board information order conversion board 104 of the first DA brand (in this example, "Gold") with the basic processing board (individual transaction board) 100-2 of the second DA brand (in this example, "Platinum") such that the price of the highest buy order (in this example, 8,084 yen) in the board information order conversion board 104 of the first DA brand corresponds to the price of the lowest sell order (in this example, 4,020 yen) in the basic processing board (individual transaction board) 100-2 of the second DA brand. The DA brand exchange ratio calculation means 15-4 calculates the exchange ratio of the second DA brand (in this example, "Platinum") in terms of the first DA brand (in this example, "Gold") (the quantity of the first DA brand (in this example, "Gold") that can be exchanged for the reference quantity (= 1) of a predetermined transaction (quantity) unit of the second DA brand (in this example, "Platinum") = the price of the second DA brand (in this example, "Platinum") / the price of the first brand (in this example, "Gold")) using the respective prices in the board information order conversion board 104 of the first DA brand (in this example, "Gold") and the basic processing board (individual transaction board) 100-2 of the second DA brand (in this example, "Platinum") associated by the buy and sell order price association means 15-3. The first order board data creation means 15-5 creates order board data for a first transaction in which, based on the first DA brand (in this example, "Gold"), the second DA brand (in this example, "Platinum") is sold and the first DA brand (in this example, "Gold") is bought. The second order board data creation means 15-6 creates order board data for a second transaction in which, based on the first DA brand (in this example, "Gold"), the second DA brand (in this example, "Platinum") is bought and the first DA brand (in this example, "Gold") is sold.

[0225] (Flow of Processing - Part 3-1) Flow of Order Board Data Creation Processing in the First Transaction (Fig. 64) FIG. 64 is an explanatory diagram showing an example of the flow of order board data creation processing in a first transaction in which, using the digital asset swap system 1 of the present embodiment, the second DA brand (in this example, "Platinum") is "sold" and the first DA brand (in this example, "Gold") is "bought". In the order board data creation processing for the first transaction in which the second DA brand (in this example, "Platinum") is "sold" and the first DA brand (in this example, "Gold") is "bought", the second DA brand sell amount conversion means 15-5-1 calculates the amount obtained by converting the sell amount of the second DA brand (in this example, "Platinum") based on the first DA brand (in this example, "Gold") (= the sell amount of the second DA brand (in this example, "Platinum") / the exchange ratio of the second DA brand (in this example, "Platinum") based on the first DA brand (in this example, "Gold") calculated by the DA brand exchange ratio calculation means 15-4). The first available transaction amount extraction means 15-5-2 extracts the first available transaction amount (the smaller of the amount obtained by converting the sell amount of the second DA brand (in this example, "Platinum") based on the first DA brand (in this example, "Gold") calculated by the second DA brand sell amount conversion means 15-5-1 and the buy amount of the first DA brand (in this example, "Gold")) in the first transaction in which the second DA brand (in this example, "Platinum") is sold and the first DA brand (in this example, "Gold") is bought. The upper limit value calculation means 15-5-3 of the transfer amount of the second DA brand in the first transaction calculates the upper limit value of the transfer amount of the second DA brand (in this example, "Platinum") in the first transaction where the second DA brand (in this example, "Platinum") is sold and the first DA brand (in this example, "Gold") is bought (in the first transaction where the second DA brand (in this example, "Platinum") is sold and the first DA brand (in this example, "Gold") is bought, the first transactionable amount extracted by the first transactionable amount extraction means 15-5-2 / the price of the second DA brand (in this example, "Platinum") × the exchange ratio of the second DA brand (in this example, "Platinum") in terms of the first DA brand (in this example, "Gold") calculated by the DA brand exchange ratio calculation means 15-4). The upper limit value calculation means 15-5-4 of the transfer amount of the first DA brand in the first transaction calculates the upper limit value of the transfer amount of the first DA brand (in this example, "Gold") corresponding to the upper limit value of the transfer amount of the second DA brand (in this example, "Platinum") in the first transaction calculated by the upper limit value calculation means 15-5-3 of the transfer amount of the second DA brand in the first transaction in the first transaction where the second DA brand (in this example, "Platinum") is sold and the first DA brand (in this example, "Gold") is bought (in the first transaction where the second DA brand (in this example, "Platinum") is sold and the first DA brand (in this example, "Gold") is bought, the first transactionable amount extracted by the first transactionable amount extraction means 15-5-2 / the price of the first DA brand (in this example, "Gold") × the exchange ratio of the second DA brand (in this example, "Platinum") in terms of the first DA brand (in this example, "Gold")).

[0226] (Flow of Processing - Part 3-2) Flow of Order Board Data Creation Processing in the Second Transaction (Fig. 65) FIG. 65 is an explanatory diagram showing an example of the flow of order board data creation processing in the second transaction where the second DA brand (in this example, "Platinum") is "bought" and the first DA brand (in this example, "Gold") is "sold" in terms of the first DA brand (in this example, "Gold") using the digital asset swap system 1 of the present embodiment. In the order board data creation process in the second transaction of "buying" the second DA stock (in this example, "Platinum") and "selling" the first DA stock (in this example, "Gold") based on the first DA stock, the buy quantity conversion means 15-6-1 for the second DA stock calculates the quantity obtained by converting the buy quantity of the second DA stock (in this example, "Platinum") based on the first DA stock (in this example, "Gold") (= the buy quantity of the second DA stock (in this example, "Platinum") / the exchange ratio of the second DA stock (in this example, "Platinum") based on the first DA stock (in this example, "Gold") calculated by the DA stock exchange ratio calculation means 15-4). The second tradable amount extraction means 15-6-2 extracts the smaller of the two amounts, which is the second tradable amount in the second transaction of "buying" the second DA stock (in this example, "Platinum") and "selling" the first DA stock (in this example, "Gold") (the quantity obtained by converting the buy quantity of the second DA stock (in this example, "Platinum") based on the first DA stock (in this example, "Gold") calculated by the buy quantity conversion means 15-6-1 for the second DA stock and the sell quantity of the first DA stock (in this example, "Gold")). The upper limit value calculation means 15-6-3 for the delivery quantity of the second DA stock in the second transaction calculates the upper limit value of the delivery quantity of the second DA stock (in this example, "Platinum") in the second transaction of "buying" the second DA stock (in this example, "Platinum") and "selling" the first DA stock (in this example, "Gold") (the second tradable amount extracted by the second tradable amount extraction means 15-6-2 in the second transaction of "buying" the second DA stock (in this example, "Platinum") and "selling" the first DA stock (in this example, "Gold") / the price of the second DA stock (in this example, "Platinum") × the exchange ratio of the second DA stock (in this example, "Platinum") based on the first DA stock (in this example, "Gold") calculated by the DA stock exchange ratio calculation means 15-4). The upper limit calculation means 15-6-4 of the transfer amount of the first DA brand in the second transaction calculates the upper limit value of the transfer amount of the second DA brand (in this example, "Platinum") in the second transaction where the second DA brand is bought and the first DA brand (in this example, "Gold") is sold. The upper limit value of the transfer amount of the first DA brand (in this example, "Gold") corresponding to the upper limit value of the transfer amount of the second DA brand (in this example, "Platinum") in the second transaction calculated by the upper limit calculation means 15-6-3 of the transfer amount of the second DA brand in the second transaction (in the second transaction where the second DA brand (in this example, "Platinum") is bought and the first DA brand (in this example, "Gold") is sold, the second transaction available amount extraction means 15-6-2 extracts the second transaction available amount / the price of the first DA brand (in this example, "Gold") × the exchange ratio of the second DA brand (in this example, "Platinum") based on the first DA brand (in this example, "Gold")) is calculated.

[0227] A specific example of the board information sorting order conversion board 104 of the first DA brand created by the board information sorting order conversion board creation means 15-1 is shown in FIG. 66. Specific examples of the first and second DA brand sales volume and purchase volume calculation and control means 15-2, the buy / sell order price association means 15-3, the DA brand exchange ratio calculation means 15-4, the first order board data creation means 15-5, the second order board data creation means 15-6, and the direct exchange board 102 of the first DA brand and the second DA brand created by the first order board data creation means 15-5 are shown in FIGS. 67 and 68 respectively. In FIGS. 67 and 68, "purchase volume" and "sales volume" are shown in units of 1 yen. In this example, for the sake of illustration, the direct exchange board 102 of the first DA brand and the second DA brand is shown separately in two figures, FIGS. 67 and 68.

[0228] (Flow of Processing - Part 4) Flow of Combination Unification Processing for Legal Currency Unit and Transaction (Quantity) Unit, and Second Reference Price Ratio Conversion Board Creation Processing (Fig. 69) FIG. 69 is an explanatory diagram showing an example of the flow of the combination unification process of the legal currency unit and the transaction (quantity) unit and the second reference price ratio conversion board creation process using the digital asset swap system 1 of the present embodiment. In the transaction of a single DA stock, when there are multiple types of "combinations of legal currency units and trading (quantity) units" as board information, the process flow of creating a board converted (unified) into a predetermined "combination of legal currency units and trading (quantity) units" will be described. When creating such a board, it becomes possible to conduct advantageous transactions by converting to a cheaper "combination of legal currency units and trading (quantity) units".

[0229] The combination unification means 19 of legal currency units and trading (quantity) units, in the transaction of a single DA stock (in this example, "Gold"), when there are multiple types of combinations of legal currency units and trading (quantity) units (in this example, the combination of "legal currency unit: US dollar, trading (quantity) unit: ounce" and the combination of "legal currency unit: Japanese yen, trading (quantity) unit: gram") as board information, converts (unifies) to a predetermined combination of legal currency units and trading (quantity) units (in this example, the combination of "legal currency unit: Japanese yen, trading (quantity) unit: gram") as follows, for example. · Price based on legal currency unit: Japanese yen = Price based on legal currency unit: US dollar × (Exchange rate: in this example, 150 yen / 1 US dollar) / (31.1 g / 1 ounce) · Sell order quantity (trading (quantity) unit: gram) = Sell order quantity (trading (quantity) unit: ounce) × (31.1 g / 1 ounce) · Buy order quantity (trading (quantity) unit: gram) = Buy order quantity (trading (quantity) unit: ounce) × (31.1 g / 1 ounce) The second reference price ratio calculation means 20 uses the board 105 in which the combination of legal currency units and trading (quantity) units has been converted (unified) by the combination unification means 19 of legal currency units and trading (quantity) units, sets a predetermined price (in this example, 8090 yen) of the DA stock (in this example, "Gold") as the reference price, and calculates the ratio of each price of the converted (unified) board 105 to the reference price so that the reference price becomes the reference value = 1 as the second reference price ratio. The second sales volume and purchase volume calculation means 21 calculates the sales volume per price (= price × sell order quantity) and the purchase volume per price (= price × buy order quantity) using the price and the sell order quantity in the board 105 in which the combination of the legal currency unit and the trading (quantity) unit has been converted (unified) by the combination unification means 19 of the legal currency unit and the trading (quantity) unit. The second reference price ratio conversion board creation means 22 creates a second reference price ratio conversion board 106 in which the sales volume and the purchase volume calculated by the second sales volume and purchase volume calculation means 21 are arranged for each second reference price ratio calculated by the second reference price ratio calculation means 20.

[0230] For one stock "Gold", a specific example of the board combining "legal currency unit: dollar, trading (quantity) unit: ounce" is shown in Fig. 70, and a specific example of the board 105 converted (unified) by the combination unification means 19 of the legal currency unit and the trading (quantity) unit into a predetermined combination of the legal currency unit and the trading (quantity) unit (in this example, the combination with "legal currency unit: yen, trading (quantity) unit: gram") is shown in Fig. 71. Specific examples of the second reference price ratio conversion board 106 created by the second reference price ratio calculation means 20, the second sales volume and purchase volume calculation means 21, and the second reference price ratio conversion board creation means 22 are shown in Fig. 72 respectively. In this example, it is assumed that the reference price of 1g of the first DA stock "Gold" is 8,090 yen. Also, in Fig. 72, the "purchase volume" and the "sales volume" are shown in units of 1 million yen.

[0231] (Flow of Processing - Part 5) Flow of Multiple DA Stock Integrated Board Creation Processing (Fig. 73) Fig. 73 is an explanatory diagram showing an example of the flow of the integrated board creation process for a plurality of DA stocks using the digital asset swap system 1 of the present embodiment. Taking the predetermined price for each DA stock as the reference price (reference value = 1), calculating the ratio of each price on the basic processing board to the reference price (the first reference price ratio), and for each first reference price ratio, arranging the calculated selling volume (= price × selling order quantity) and buying volume (= price × buying order quantity) in the first reference price ratio conversion board 101 (for example, FIGS. 61 and 62). And when there are multiple types of "combinations of legal currency units and trading (quantity) units" as board information for a predetermined DA stock, converting (unifying) to a predetermined "combination of legal currency units and trading (quantity) units", and taking the predetermined price as the reference price (reference value = 1), calculating the ratio of each price on the converted (unified) board to the reference price (the second reference price ratio), and for each calculated second reference price ratio, arranging the selling volume (= price × selling order quantity) and buying volume (= price × buying order quantity) in the second reference price ratio conversion board 106 (for example, FIG. 72) to create an integrated board (sorting board based on the reference price) that unifies each DA stock and the like. The process flow of creating such a board will be described. When creating such a board, it becomes possible to determine whether it is expensive or cheap relative to each reference price. This integrated board of multiple DA stocks is for displaying the conversion rate in the case of barter settlement by displaying the reference currency in settlement, rather than for direct barter like the direct exchange board 102 (for example, FIGS. 67 and 68). In this example, it is assumed that payment is made in "gold" and received in "platinum". When the reference price of the board for each stock changes, the board for that stock should be recalculated. Similarly, power systems, energy systems such as JJ, and other DA stocks can be added.

[0232] The integrated board creation means 16 for multiple DA stocks creates an integrated board (sorting board based on the reference price) 103 that unifies each DA stock and the like. Specifically, for a plurality of DA stocks (in this example, "gold" and "platinum") created by the first reference price ratio conversion board creation means 14, the board information (Figs. 74 and 75) of the first reference price ratio conversion board 101 (Figs. 61 and 62) is combined with the combination unification means 19 of the legal currency unit and the trading (quantity) unit to be converted (unified) into a predetermined "combination of legal currency unit and trading (quantity) unit". The board information (Fig. 76) of the second reference price ratio conversion board 106 created by the second reference price ratio conversion board creation means 22 is integrated, and the integrated board information is sorted in the order of the reference price ratio (the first reference price ratio and / or the second reference price ratio) calculated using the reference price (excluding those with "selling volume" and "buying volume" of 0) (Figs. 77 and 78). In this example, for the sake of illustration, the integrated board (sorting board based on the reference price) 103 that unifies each DA stock etc. is shown separately in the two figures of Figs. 77 and 78. The original DA stock identifier information addition means 23 adds an identifier (not shown in the figure), such as a flag indicating the original DA stock, to the individual board information of the sorted data. The board information change control means 18 controls such that when the plurality of DA stock integrated boards (sorting boards based on the reference price) 103 (Figs. 77 and 78) are linked to the basic processing board (individual transaction board) 100, the first reference price ratio conversion board 101 (Figs. 58 to 62), the direct exchange board 102 (Figs. 67 to 68) between the first DA stock and the second DA stock, the board 105 (Fig. 71) in which the combination of the legal currency unit and the trading (quantity) unit is converted (unified), and the second reference price ratio conversion board 106 (Fig. 72), and the content of the reference price and the board information is changed, the content of the board information sorted in the plurality of DA stock integrated boards (sorting boards based on the reference price) 103 is also immediately changed in synchronization. After the content of the reference price and the board information is changed, the board information change control means 18 preferably changes the content of the board information sorted in the plurality of DA stock integrated boards 103 at a predetermined interval, such as in units of 0.5 seconds. This is because it is more efficient than performing the change process constantly.

[0233] Note that, even when the exchange rates and trading volumes are different, if it is the same DA brand, the board information is arranged in the same column, and the board information of different DA brands is shifted to the horizontal column to create the integrated board of multiple DA brands 103.

[0234] (Flow of Processing - Part 6) Flow of Transaction Processing on the Multiple DA Stock Integrated Board (Fig. 79) FIG. 79 is an explanatory diagram showing an example of the flow of trading processing on the integrated board of multiple DA brands using the digital asset swap system 1 of the present embodiment. When different DA brands between two parties are in a cross state on the integrated board of multiple DA brands (sorting board based on the reference price) 103, the integrated board trading processing control means 24 exchanges the DAs of the two parties within the integrated board of multiple DA brands (sorting board based on the reference price) 103 and controls so that the exchange processing between the DA and the currency becomes unnecessary. In addition, when different DA brands between two parties are not in a cross state on the integrated board of multiple DA brands, the integrated board trading processing control means 24 sends them back to the basic processing board (individual trading board) and controls so that the exchange processing with each currency is performed there. In addition, when it is in a cross state with the same DA brand, the integrated board trading processing control means 24 controls to unconditionally match the market maker's own lot. In the examples of FIGS. 77 and 78, in regions 1 and 2, there is a buy order for the brand gold with a reference price ratio higher than the reference price ratio of the sell order for the brand gold. Since it is crossing with the "same DA brand (gold)", the integrated board trading processing control means 24 controls to unconditionally match the market maker's own lot. In the examples of FIGS. 77 and 78, in region 3, there is a buy order for the brand gold with a reference price ratio higher than the reference price ratio of the sell order for the brand platinum. Although it is crossing with the "different brands (gold / platinum)", since the cross state changes when the reference price changes, the market maker may match the brands in this cross state by itself, or may leave it as it is.

[0235] The process of effecting transactions for the stocks in the area in this crossed state is basically controlled such that, based on the order thickness of each board in the liquidity analysis = 1 to 3 stages of each board (the first stage: the basic processing board (individual trading board), the second stage: the direct exchange board, the third stage: the integrated board that unifies each DA stock), it is determined which of buying and selling is dominant, and the market maker's own shares are effected for trading based on the dominant side's board. Specifically, the liquidity analysis means 25 determines which of selling and buying is dominant based on the order thickness of each board. Then, the integrated board trading process control means 24 controls such that the market maker's own shares are effected for trading based on the board on the side determined to be dominant by the liquidity analysis means 25. More specifically, when the liquidity analysis means 25 determines that selling is dominant, the integrated board trading process control means 24 controls to effect a sale of the market maker's own shares for trading against a buy order for which the first reference price ratio and / or the second reference price ratio on the buy board is higher than 1. Also, when the liquidity analysis means 25 determines that buying is dominant, the integrated board trading process control means 24 controls to effect a purchase of the market maker's own shares for trading against a sell order for which the first reference price ratio and / or the second reference price ratio on the sell board is lower than 1.

[0236] From the results of the liquidity analysis, if selling is strong, it means that the corresponding market is likely to decline. Therefore, the integrated board trading process control means 24 controls to sell the market maker's own shares to eat into the buy orders in order to effect a sale first against a buy order for which the reference price ratio on the buy board is higher than 1. Also, if buying is strong, it means that the corresponding market is likely to rise. Therefore, the integrated board trading process control means 24 controls to buy the market maker's own shares to effect a purchase first against a sell order for which the reference price ratio on the sell board is lower than 1.

[0237] In addition, when effecting an exchange of stocks between customers, the market maker itself becomes the counterparty and holds / adjusts the fractional part that exceeds. Also, in the case of this process, for the integer part rather than the decimal part, the actual quantity liquidity is adjusted within the range of the designated holding quantity of the market maker's own position. That is, in the examples of FIGS. 77 and 78, in regions 1 and 2, the market maker intervenes unconditionally and judgmentally, and in region 3, the market maker can use its surplus part amortization-wise through the position function, or use it for its own position adjustment as an adjustment of the market directionality. When the next two customers conduct an exchange of goods, the market maker's own side intervenes and adjusts. In the case of a board such as a direct exchange of platinum and gold, the board with higher liquidity is used as a reference. In the actual physical market, for example, the trading (quantity) unit of gold is in units of 1 kg, etc., but in the case of digital assets, trading can be conducted in small trading (quantity) units such as 1 g, ¥1, or less than ¥1. Actually, currencies and DAs are managed down to the decimal point.

[0238] (Flow of Processing - Part 7) Flow of DA Settlement Quantity Calculation Processing Using the Board Information Serving as the Basis for the Multiple DA Stock Integrated Board (Fig. 80) Here, the settlement quantity calculation process of DAs using the board information that is the basis of the integrated board (sorting board based on the reference price) that unifies each DA brand, etc., will be described. FIG. 80 is an explanatory diagram showing an example of the settlement quantity calculation process of DAs using the board information that is the basis of the integrated board of multiple DA brands using the digital asset swap system 1 of the present embodiment. In the integrated board of multiple DA brands (sorting board based on the reference price) 103, as shown in FIGS. 77 and 78, there are columns for the quantity (selling quantity, buying quantity) of the brand to be bought and sold, and there is a column for the reference price ratio based on 1 between the column for the selling quantity and the column for the buying quantity. The price of the original board (basic processing board (individual trading board) 100) is linked to the reference price ratio. That is, since the price of the original board (basic processing board (individual trading board) 100) is the basis, when calculating the payment quantity of the DA based on the price of the original board (basic processing board (individual trading board) 100), a predetermined settlement amount is set for selling a predetermined DA brand at a predetermined reference price ratio. That is, when desiring to sell a predetermined DA brand at a predetermined reference price ratio, the DA payment quantity calculation means 26 calculates the payment quantity of the DA based on the price of the basic processing board (individual transaction board) 100 linked to the reference price ratio for a predetermined settlement amount. In addition, the DA payment quantity presentation means 27 presents the payment quantity of the DA calculated by the DA payment quantity calculation means 28 to the trader. Also, when desiring to buy a predetermined DA brand at a predetermined reference price ratio, the DA receipt quantity calculation means 28 calculates the receipt quantity of the DA based on the price of the basic processing board (individual transaction board) 100 linked to the reference price ratio for a predetermined settlement amount. In addition, the DA receipt quantity presentation means 29 presents the receipt quantity of the DA calculated by the DA receipt quantity calculation means 28 to the trader. Also, the first settlement instruction reception means 30 receives a settlement instruction from the trader on the payment side who has received the presentation of the payment quantity of the DA by the DA payment quantity presentation means 27 and from the trader on the receipt side who has received the presentation of the receipt quantity of the DA by the DA receipt quantity presentation means 29.

[0239] For example, in the case of a 500 yen settlement and trader A desiring payment in gold, if there is a buy at a reference price ratio of 0.99981 for the remaining after eliminating the arbitrage (arbitration transaction) area match, and assuming it corresponds, the price of gold for that index is 8088 (=8090×0.99981) yen. The ratio of the settlement amount to the price of gold is 500 / 8088 = 0.0618 That is, information indicating that 0.0618 gold tokens (e.g., rounding up is the fee) should be transferred (here, the disposal quantity of gold) is displayed, and the quantity according to the display is transferred.

[0240] Also, Trader B desires to receive in platinum. After eliminating the overlap in the arbitrage area, there is a sell order at the reference price ratio of 0.99925, and the selling price of 4022 yen is linked to the base original board (basic processing board (individual trading board) 100). The ratio of the settlement amount to the price of platinum is 500 / 4022 = 0.124316261 That is, information indicating that 0.1243 platinum tokens can be received (in this case, the amount of platinum received, for example, rounding down is the fee) is displayed, and the amount according to the display can be received. In the above case, since the buy order at the reference price ratio of 0.99981 and the sell order at the reference price ratio of 0.99925 are "crossed", the market maker intervenes and conducts the transfer of both tokens, thereby realizing the direct exchange of DAs.

[0241] Also, when there is no sell order for platinum up to the reference price ratio of 1.00025 for the gold buy order at the reference price ratio of 0.99981, the sell and buy orders at the reference price ratio do not cross at this timing. Therefore, currency conversion is performed on each board of gold and platinum (basic processing board (individual trading board) 100) (that is, sell gold and then buy platinum with the money). The price of platinum corresponding to the reference price ratio of 1.00025 is 4026, and the quantity to be received is 500 / 4026 = 0.124192747 It decreases by -0.000124 due to the difference. Note that since the reference price and the board situation change in real time, when performing the settlement, it is possible to set the time available for commitment to 1 second or the like. The longer the time available for commitment to the settlement is set, the larger the additional spread becomes. Also, the spread value is automatically changed according to the market situation and the liquidity situation of the brand. If the time to commit the settlement is exceeded, the rate (condition) changes. Therefore, when the customer issues a settlement instruction at 500 yen, the system automatically performs the settlement process immediately.

[0242] (Flow of Processing - Part 8) Flow of Multiple DA Stock Integrated Board Creation Processing with Transaction Price and DA Exchange Quantity Calculation Processing Using the Multiple DA Stock Integrated Board with Transaction Price (Fig. 81) FIG. 81 is an explanatory diagram showing an example of a process for creating an integrated board of a plurality of DA brands with transaction prices and a process for calculating the exchange quantity of DAs using the integrated board of a plurality of DA brands with transaction prices using the digital asset swap system 1 of the present embodiment. The means 31 for creating an integrated board of a plurality of DA brands with transaction prices creates an integrated board 107 of a plurality of DA brands with transaction prices (FIGS. 82 and 83) in which the transaction prices of the respective DA brands in the basic processing board (individual transaction board) 100 are added to the integrated board 103 of a plurality of DA brands. In this example, for the sake of illustration, the integrated board 107 of a plurality of DA brands with transaction prices is shown divided into two figures, FIGS. 82 and 83. The DA exchange quantity calculation means 32 calculates the exchange quantity of DAs between the transactors when the settlement price is determined based on the integrated board 107 of a plurality of DA brands with transaction prices created by the means 31 for creating an integrated board of a plurality of DA brands with transaction prices. In addition, the DA exchange quantity calculation means 32 calculates, as the exchange quantity of the DA, the numerical value obtained by dividing the settlement price by the best bid price of the DA brand.

[0243] As described with reference to FIGS. 77 and 78, in this example, since the purchase of gold at the reference price ratio of 0.99981 and the sale of platinum at the reference price ratio of 0.99925 cross each other, a direct exchange process is performed. On the other hand, since the purchase of gold at the reference price ratio of 0.99981 and the sale of platinum at the reference price ratio of 1.00025 do not cross each other, an exchange process after individual settlement through the respective original boards (basic processing boards (individual transaction boards) 100) of gold and platinum is performed. On the integrated board (sorting board based on the reference price) 103 that unifies each of these DA stocks, etc., based on the board with the trading prices of the DA stocks on the basic processing board (individual transaction board) 100 entered, when the settlement price (in this case, ¥) is determined, the numerical value (the exchange amount of the relevant DA) obtained by dividing by the best bid price based on ¥, which can be used for the exchange process between the DAs with each other, is presented to the customer, and a settlement instruction is received from the customer. At this time, the actual trading price may be displayed for reference.

[0244] Furthermore, it will be explained using a specific example. Here, it is assumed that trader A desires to purchase an item worth 500 yen from trader B and deliver gold, and trader B desires to receive platinum. This is a sale with a specified amount of 500 yen for gold and a purchase with a specified amount of 500 yen for platinum. In the direct exchange board (Figs. 67 and 68), the best bid exchange ratio for the pair of buying gold and selling platinum (in this example, "the exchange ratio of the second DA stock (in this example, "platinum") based on the first DA stock (in this example, "gold")) is 0.49727. Based on Figs. 66 and 1 - 3, the prices corresponding to this exchange ratio are 8084 yen for gold and 4020 yen for platinum. Therefore, The disposal amount of gold for trader A is 500 / 8040 = 0.0621891 The amount of platinum received by trader B is 500 / 4020 = 0.1243781 It becomes like this.

[0245] (Flow of Processing - Part 9) Flow of Physical / CFD Integrated Board Creation Processing and Physical / CFD Fusion Board Creation Processing (Fig. 84) Fig. 84 is an explanatory diagram showing an example of the flow of the physical - CFD integrated board creation process and the physical - CFD fusion board creation process using the digital asset swap system 1 of this embodiment. In addition to the processes described with reference to Figs. 57 to 81, the digital asset swap system 1 of this embodiment can further perform a process of integrating the physical board and the CFD board. The physical object·CFD integrated board creation means 35 creates a physical object·CFD integrated board 108 (in this example, Fig. 85) by integrating a physical object board and a CFD (Contract For Difference) board. Fig. 85 shows an example of a physical object·CFD integrated board 108 integrated using a platinum physical object board (basic processing board) and a CFD board. In the physical object·CFD integrated board 108, basically, matching between CFDs and matching processing between physical objects are performed. Here, the market maker himself intervenes to create a matching position between CFDs and physical objects so that he can make a contract and take it in.

[0246] The physical object·CFD fusion board creation means 38 creates a physical object·CFD fusion board 109 (in this example, Fig. 86) by fusing the board information of the physical object board and the board information of the CFD (Contract For Difference) board with the trading (quantity) units matched as one board information. Fig. 86 shows an example where the market maker himself intervenes (including borrowing stocks by rendering when the market maker's own stocks are insufficient) and integrates the CFD board into the physical object board. In addition to the example in Fig. 86, it is also possible to create a physical object·CFD fusion board 109 by fusing the physical object board into the CFD board (it is necessary to match the quantity of the physical object to the trading (quantity) unit of the CFD). Also, in the example of Fig. 86, the ratio of the trading (quantity) units of the physical object and the CFD is assumed to be 1:1.

[0247] The case where the trading (quantity) unit of the CFD is temporarily 10 times that of the physical object will be explained. The CFD quantity adjustment means 36 adjusts the quantity of the CFD to a quantity matched to the trading (quantity) unit of the physical object (Fig. 87). The physical object·CFD fusion board creation means 38 creates a physical object·CFD fusion board 109 by fusing the CFD board with the trading (quantity) units matched into the physical object board (Fig. 88). In the above example, the case of creating the physical-CFD integrated board 109 by fusing the CFD board with the physical board has been described. However, when creating the physical-CFD integrated board 109 by fusing the physical board with the CFD board, the physical quantity adjustment means 37 adjusts the quantity of the physical to a quantity that is consistent with the CFD trading (quantity) unit.

[0248] (Flow of Processing - Part 10) Flow of DVP / RTGS Integrated Board Creation Processing (Fig. 89) FIG. 89 is an explanatory diagram showing an example of the flow of the DVP·RTGS integrated board creation process using the digital asset swap system 1 of the present embodiment. ST is also targeted as a DA. In ST transactions, there are transactions using RTGS and DVP as different settlement methods for delivery. For example, DVP is net batch settlement at T+2, and RTGS is immediate settlement each time. DVP is a settlement method used for wholesale transactions, and RTGS is a settlement method used for retail transactions. When a customer selects DVP or RTGS as the settlement method at the time of ordering, two different transaction functions for settlement processing can be identified by the selection. However, if the delivery time can be adjusted by the market maker's own absorption when it is the same brand, orders with different settlement methods can be integrated. The DVP·RTGS integrated board creation means 39 creates, for example, a DVP·RTGS integrated board 110 by integrating the DVP board information with the RTGS board information for ST of Brand A (FIG. 90). In addition, the delivery time adjustment control means 40 for the DVP transaction ST and the RTGS transaction ST controls so as to absorb and adjust the deviation in the delivery time between the DVP board information and the RTGS board information by the market maker's own (basically, mainly adjusted on the RTGS side).

[0249] Here, it is assumed that the market maker's own has a short position of quantity 500 (able to place a sell order). Also, it is assumed that the market maker's own has a buy capacity of quantity 300 (able to place a buy order). In such a case, the transfer timing adjustment control means 40 for the DVP transaction ST and the RTGS transaction ST controls to widen the spread so that the market maker himself can intervene and make an arbitrage (Fig. 91).

[0250] Specifically, in the example of Fig. 90, as orders near the best bid and offer, on the sell side, there is a DVP sell order with a price of 4,020 yen and a quantity of 856, and on the buy side, there is an RTGS buy order with a price of 4,020 yen and a quantity of 10. Also, in the example of Fig. 90, the DVP board is in a state where selling is strong and buying is weak, and the RTGS board is in a state where buying is strong and selling is weak. Here, if the market maker himself intervenes by widening the spread by 1 yen, in the RTGS board where selling is weak, a short position of 500 units is established at a price of 4,021 yen (a sell order is placed). If the market maker's short position at this price of 4,021 yen can be traded, since there is a sell order of 856 units at a price of 4,020 yen on the DVP board, the quantity corresponding to the traded part of the market maker's short position at a price of 4,021 yen can be purchased at a price of 4,020 yen on the DVP board, enabling an arbitrage of 1 yen. That is, when there is a sell order at a price of 4,020 yen on the DVP board with a strong selling side and the spread is set at 1 yen, the market maker can make an arbitrage by entering his own sell order at a price of 4,021 yen (4,020 yen plus the spread of 1 yen) on the RTGS board with a strong buying side.

[0251] Also, on the DVP board with weak buying, place buy positions (submit buy orders) of quantity 10 at price 4,019 yen, quantity 100 at price 4,018 yen, and quantity 90 at price 4,017 yen. Assuming that the market maker's buy positions at these prices of 4,019 yen, 4,018 yen, and 4,017 yen can be filled, since there are buy orders of quantity 10 at price 4,020 yen, quantity 200 at price 4,019 yen, and quantity 1,600 at price 4,018 yen on the RTGS board, the filled quantity for the market maker's buy positions at prices 4,019 yen, 4,018 yen, and 4,017 yen can be purchased on the RTGS board at prices 4,020 yen, 4,019 yen, and 4,018 yen respectively, enabling a one-yen scalp.

[0252] Note that in the above example, a one-yen spread was left to ensure the market maker's own profit. However, the spread may be set to 0 to adjust liquidity and the market maker may intervene. FIG. 92 shows a case where buy positions (buy orders were submitted) of quantity 200 at price 4,019 yen and quantity 100 at price 2,018 yen are held on the DVP board with a spread of 0.

[0253] (Process Flow - Part 11) Process Flow of Major DA Transaction Board Creation (Figure 93) FIG. 93 is an explanatory diagram showing an example of the flow of the major DA trading board creation process using the digital asset swap system 1 of the present embodiment. Although examples of creating an "integrated board that unifies each DA brand" have been shown and described in FIGS. 77, 78, 82, and 83, the DA brand will be further specifically described. Among DA brands, there is a brand that serves as a reference when creating board information (referred to as "major DA" in this application). Examples of the basic "major DA" are shown in FIG. 94. The major DA trading board creation means 41 creates a major DA trading board 111 for trading with a reference currency (such as yen) for the DA (major DA) brand that serves as a reference in creating board information for DA brands. The reference price calculation / setting means 42 calculates and sets the reference price for each DA issue based on the trading situation on the major DA trading board 111 created by the major DA trading board creation means 41.

[0254] As the reference price calculated and set by the reference price calculation / setting means 42, (a1) The reference price set immediately before (a2) The mid-price between the best ask and the best bid (a3) The price at which the last trade was made (a4) The weighted average of the trade prices for a certain period (changeable) such as 5 minutes in the previous trading time are cited. In the present embodiment, the reference price calculation / setting means 42 mainly calculates the reference price according to the above (a2). If (a2) is not available, it is set as (a4). If (a4) is not available, among (a1) and (a3), the value with the closer time is adopted. That is, the reference price calculation / setting means 42 calculates and sets the mid-price between the best ask and the best bid on the major DA trading board 111 as the reference price. In addition, for the major DA issue on the major DA trading board 111, when there is no mid-price between the best ask and the best bid, the reference price calculation / setting means 42 calculates and sets the weighted average of the trade prices within a predetermined trading time such as the previous 5 minutes (changeable) as the reference price. In addition, for the major DA issue on the major DA trading board 111, when there is neither a mid-price between the best ask and the best bid nor a weighted average of the trade prices within a predetermined trading time such as the previous 5 minutes (changeable), the reference price calculation / setting means 42 calculates and sets the value with the closer time among the reference price set immediately before and the price at which the last trade was made as the reference price.

[0255] (Process Flow - Part 12) Process Flow of Calculation Processing for Fluctuation Rate of Fluid Property State (Figure 95) FIG. 95 is an explanatory diagram showing an example of the flow of the liquidity state volatility calculation process using the digital asset swap system 1 of the present embodiment. The trading state volatility calculation means 43 calculates the volatility of the trading state. As the volatility calculated by the trading state volatility calculation means 43, (b1) The transaction volatility for a certain period such as 5 minutes (changeable) in the immediately preceding trading time. However, if the number of samples is less than 20 transactions (changeable), it shall be N / A. (b2) Calculate the volatility of the market sentiment (the central value of selling and buying; if there is only the market sentiment on one side, the calculation for that market sentiment shall not be performed) for a certain period such as 5 minutes (changeable) in the immediately preceding trading time. However, if the number of samples is less than 20 (changeable), it shall be N / A. (b3) The immediately preceding volatility may be mentioned. In this embodiment, the trading state volatility calculation means 43 is configured to adopt (b2) when (b1) is not available, and to adopt (b3) when (b2) is not available. That is, for the DA stock, when the number of transactions within a predetermined trading time such as the immediately preceding 5 minutes (changeable) is 20 (changeable) or more, the transaction volatility within the predetermined trading time is calculated, and the calculated transaction volatility is calculated as the volatility of the trading state. In addition, for the DA stock, when the number of transactions within a predetermined trading time such as the immediately preceding 5 minutes (changeable) is less than 20 (changeable), and when the market sentiment for both selling and buying (the central value of selling and buying) within the predetermined trading time is 20 (changeable) or more, the volatility of both the selling market sentiment and the buying market sentiment within the predetermined trading time is calculated, and the calculated volatility of both the selling market sentiment and the buying market sentiment is calculated as the volatility of the trading state. In addition, for the DA stock, when the number of transactions within a predetermined trading time such as the immediately preceding 5 minutes (changeable) is less than 20 (changeable), and the market sentiment for both selling and buying (the central value of selling and buying) within the predetermined trading time is less than 20 (changeable), the volatility calculated immediately before is calculated as the volatility of the trading state.

[0256] (Process Flow - Part 13) Process Flow of Standard Price Ratio Processing Based on Fluctuation Rate (Volatility) of Fluid Property State (Figure 96) FIG. 96 is an explanatory diagram showing an example of the flow of the reference price ratio process based on the volatility (volatility) of the liquidity state using the digital asset swap system 1 of the present embodiment. As described above, when creating an "integrated board that unifies each DA brand" for each DA brand in each major frame, the board information change control means 18, for the basic processing board (individual transaction board) 100, the first reference price ratio conversion board 101, the direct exchange board 102 between the first DA brand and the second DA brand, the legal currency unit, and the combination of the transaction (quantity) unit is converted (unified) board 105, every time the reference price and the content of the board information in the second reference price ratio conversion board 106 are changed, based on the reference price, the change (recalculation) of the content of the board information is repeated. Furthermore, the board information change control means 18 repeats the change (recalculation) based on the volatility (volatility) of the liquidity state for each DA brand. Specifically, when creating an integrated board that unifies each DA brand for each DA brand in each major frame, the board information change control means 18 synchronizes when the reference price and the content of the board information are changed, and when repeating the recalculation of the content of the board information based on the reference price, based on the volatility (volatility) of the liquidity state for each DA brand calculated by the liquidity state volatility calculation means 43, the first reference price ratio for the DA brand is corrected. Alternatively, when creating an integrated board that unifies each DA brand for each DA brand in each major frame, the board information change control means 18 synchronizes when the reference price and the content of the board information are changed, and when repeating the recalculation of the content of the board information based on the reference price, based on the volatility (volatility) of the liquidity state for each DA brand calculated by the liquidity state volatility calculation means 43, the first reference price ratio, and / or the second reference price ratio for the DA brand is corrected.

[0257] Stocks with a large liquidity state (volatility) have low liquidity, so the trading risk is high. To cope with the trading risk, the board information change control means 18 corrects the value of the "reference price ratio" (the ratio to the reference price calculated by setting the predetermined price as the reference price so that the reference price becomes the reference value = 1) for stocks with a large liquidity state (volatility rate). For stocks with a small liquidity state (volatility rate), the "reference price ratio" remains unchanged, and for stocks with a large liquidity state (volatility rate), the "reference price ratio" is corrected based on the correction rate defined in the reference price ratio correction table 112 as shown in FIG. 97, for example. Specifically, the board information change control means 18 collates the volatility rate (volatility) of the liquidity state for each DA stock calculated by the liquidity state volatility rate calculation means 43 with the range of the volatility rate (volatility) of the corresponding liquidity state in the DA stock set in the reference price ratio correction table 112, and corrects the first reference price ratio for the DA stock based on the correction amount (addition value or subtraction value) set within the range of the volatility rate (volatility) of the liquidity state. Alternatively, the board information change control means 18 collates the volatility rate (volatility) of the liquidity state for each DA stock calculated by the liquidity state volatility rate calculation means 43 with the range of the volatility rate (volatility) of the corresponding liquidity state in the DA stock set in the reference price ratio correction table 112, and corrects the first reference price ratio and / or the second reference price ratio for the DA stock based on the correction amount (addition value or production reduction value) set within the range of the volatility rate (volatility) of the liquidity state.

[0258] In the board information, there is a call price (price increment when trading) for the reference price level, and the reference price level is segmented in that unit and sorted by price. Using the reference price ratio correction table 112 (FIG. 97) in which the correction amount (addition value or subtraction value) to the reference price ratio corresponding to the range of the volatility rate (volatility) of the liquidity state is set for each DA stock, the reference price ratio (the ratio to the reference price calculated by setting the predetermined price as the reference price so that the reference price becomes the reference value = 1) is corrected for each DA stock. The greater the degree of change in the flow state (variation rate), the greater the difference in the reference price ratio of selling and buying for the DA stock (a ratio to the reference price, calculated with the predetermined price as the reference price such that the reference price becomes the reference value = 1). Therefore, when exchanging with stocks having low liquidity, the exchange is to be conducted with an appropriate amount of risk added.

[0259] Effect of Digital Asset Swap System 1 of the Present Embodiment According to the digital asset swap system 1 of the present embodiment, having the basic processing board creation means 11, and configured to create a basic processing board (individual transaction board) 100 denominated in a predetermined legal currency, which consists of a sell order board showing the sell order quantity for each price in units of a predetermined legal currency per reference quantity for a predetermined transaction (quantity) unit for each DA stock, and a buy order board showing the buy order quantity, settlement of DA via legal currency becomes possible, and a trader desiring to trade DA can easily grasp the validity of the value of DA.

[0260] Also, according to the digital asset swap system 1 of the present embodiment, having the first reference price ratio calculation means 12, the first sell volume · buy volume calculation means 13, and the first reference price ratio conversion board creation means 14, using the basic processing board (individual transaction board) 100 created by the basic processing board creation means 11, with a predetermined price for each DA stock as the reference price, calculating the ratio of each price in the basic processing board (individual transaction board) 100 to the reference price as the first reference price ratio, using each price and each sell order quantity in the basic processing board (individual transaction board) 100 created by the basic processing board creation means 11 to calculate the sell volume (= price × sell order quantity) and buy volume (= price × buy order quantity) for each price, and for each first reference price ratio calculated by the first reference price ratio calculation means 12, creating a first reference price ratio conversion board 101 arranging the sell volume and buy volume calculated by the first sell volume · buy volume calculation means 13, so that it is possible to determine undervalued and overvalued relative to the reference price, and a trader desiring to trade DA can easily grasp the validity of the value of DA.

[0261] In addition, according to the digital asset swap system 1 of the present embodiment, it has a DA stock direct exchange board creation means 15, and based on the board information of the basic processing board (individual transaction board) 100-1 of the first DA stock in a predetermined legal currency created by the basic processing board creation means 11 and the board information of the basic processing board (individual transaction board) 100-2 of the second DA stock in a predetermined legal currency, a direct exchange board 102 between the first DA stock and the second DA stock is created. Therefore, a straightforward settlement (original barter) between DAs without going through a legal currency can be performed.

[0262] In addition, according to the digital asset swap system 1 of the present embodiment, it has a plurality of DA stock integrated board creation means 16, and a configuration is adopted in which a plurality of DA stock integrated boards 103 are created by integrating the first reference price ratio conversion boards 101 for a plurality of DA stocks created by the first reference price ratio conversion board creation means 14. Therefore, exchanges between DAs with complex many-to-many combinations can be performed.

[0263] In addition, according to the digital asset swap system 1 of the present embodiment, it has a reference price ratio sorting means 17, and the board information of the plurality of DA stock integrated boards 103 integrated by the plurality of DA stock integrated board creation means 16 is sorted in the order of the first reference price ratio (excluding those with a selling volume and a buying volume of 0). Therefore, it is possible to easily determine whether it is a bargain or an overprice with respect to the reference price based on the reference price ratio.

[0264] In addition, according to the digital asset swap system 1 of the present embodiment, it has a board information change control means 18, and the plurality of DA stock integrated boards 103 are interlocked with the basic processing board (individual transaction board) 100, the first reference price ratio conversion board 101, and the direct exchange board 102 between the first DA stock and the second DA stock. When the reference price and the content of the board information are changed, the content of the board information sorted in the plurality of DA stock integrated boards 103 is also controlled to be changed synchronously. Therefore, transactions with high reliability can be performed at a stable transaction price.

[0265] Also, according to the digital asset swap system 1 of the present embodiment, the DA stock direct exchange board creation means 15 includes a board information order conversion board creation means 15-1, first and second DA stock sales volume and purchase volume calculation control means 15-2, a trading order price association means 15-3, a DA stock exchange ratio calculation means 15-4, a first order board data creation means 15-5, and a second order board data creation means 15-6. It creates a board information order conversion board 104 of the first DA stock in which the order of the sell order quantity, buy order quantity, and price in the basic processing board (individual transaction board) 100-1 of the first DA stock is converted to the reverse order. The board information order conversion board 104 of the first DA stock created by the board information order conversion board creation means 15-1 and the basic processing board (individual transaction board) 100-2 of the second DA stock are each used to calculate the sell volume and buy volume for each price via the first sales volume and purchase volume calculation means 13, so that the highest buy order price in the board information order conversion board 104 of the first DA stock corresponds to the lowest sell order price in the basic processing board (individual transaction board) 100-2 of the second DA stock, and the board information order conversion board 104 of the first DA stock and the basic processing board (individual transaction board) 100-2 of the second DA stock are associated. Using the respective prices in the board information order conversion board 104 of the first DA stock and the basic processing board (individual transaction board) 100-2 of the second DA stock associated by the trading order price association means 15-3, it calculates the exchange ratio of the second DA stock in terms of the first DA stock (the quantity of the first DA stock that can be exchanged for the second DA stock with a reference quantity (=1) of a predetermined transaction (quantity) unit = the price of the second DA stock / the price of the first stock), creates order board data for the first transaction of selling the second DA stock and buying the first DA stock in terms of the first DA stock, and creates order board data for the second transaction of buying the second DA stock and selling the first DA stock in terms of the first DA stock. Therefore, it can embody a configuration that enables direct settlement (original barter) between DAs without going through fiat currency.

[0266] Moreover, according to the digital asset swap system 1 of the present embodiment, the first order board data creation means 15-5 includes a second DA stock selling volume conversion means 15-5-1, a first available transaction amount extraction means 15-5-2, a second DA stock delivery amount upper limit value calculation means 15-5-3 in the first transaction, and a first DA stock delivery amount upper limit value calculation means 15-5-4 in the first transaction. It calculates the amount obtained by converting the selling volume of the second DA stock based on the first DA stock (= the selling volume of the second DA stock / the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means 15-4), sells the second DA stock, and in the first transaction of buying the first DA stock, extracts the first available transaction amount (the smaller of the amount obtained by converting the selling volume of the second DA stock based on the first DA stock calculated by the second DA stock selling volume conversion means 15-5-1 and the buying volume of the first DA stock). It calculates the upper limit value of the delivery amount of the second DA stock in the first transaction of selling the second DA stock and buying the first DA stock (the first available transaction amount extracted by the first available transaction amount extraction means 15-5-2 in the first transaction of selling the second DA stock and buying the first DA stock / the price of the second DA stock × the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means 15-4), and calculates the upper limit value of the delivery amount of the first DA stock corresponding to the upper limit value of the delivery amount of the second DA stock in the first transaction calculated by the second DA stock delivery amount upper limit value calculation means 15-5-3 in the first transaction of selling the second DA stock and buying the first DA stock (the first available transaction amount extracted by the first available transaction amount extraction means 15-5-2 in the first transaction of selling the second DA stock and buying the first DA stock / the price of the first DA stock × the exchange ratio of the second DA stock in terms of the first DA stock). Therefore, it is possible to embody a configuration that enables direct settlement (original barter) between DAs without going through fiat currency in the first transaction of selling the second DA stock and buying the first DA stock.

[0267] Moreover, according to the digital asset swap system 1 of the present embodiment, the second order board data creation means 15-6 includes a second DA stock buy volume conversion means 15-6-1, a second available transaction amount extraction means 15-6-2, a second DA stock transfer amount upper limit value calculation means 15-6-3 in the second transaction, and a first DA stock transfer amount upper limit value calculation means 15-6-4 in the second transaction. It calculates the amount obtained by converting the buy volume of the second DA stock based on the first DA stock (= the buy volume of the second DA stock / the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means 15-4), and in the second transaction where the second DA stock is bought and the first DA stock is sold, it extracts the second available transaction amount (the smaller amount between the amount obtained by converting the buy volume of the second DA stock based on the first DA stock calculated by the second DA stock buy volume conversion means 15-6-1 and the sell volume of the first DA stock). It calculates the upper limit value of the transfer amount of the second DA stock in the second transaction where the second DA stock is bought and the first DA stock is sold (the second available transaction amount extracted by the second available transaction amount extraction means 15-6-2 in the second transaction where the second DA stock is bought and the first DA stock is sold / the price of the second DA stock × the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means 15-4), and calculates the upper limit value of the transfer amount of the first DA stock corresponding to the upper limit value of the transfer amount of the second DA stock in the second transaction calculated by the second DA stock transfer amount upper limit value calculation means 15-6-3 in the second transaction where the second DA stock is bought and the first DA stock is sold (the second available transaction amount extracted by the second available transaction amount extraction means 15-6-2 in the second transaction where the second DA stock is bought and the first DA stock is sold / the price of the first DA stock × the exchange ratio of the second DA stock in terms of the first DA stock). Therefore, it is possible to embody a configuration that enables direct settlement (original barter) between DAs without going through fiat currency in the second transaction where the second DA stock is bought and the first DA stock is sold.

[0268] In addition, according to the digital asset swap system 1 of the present embodiment, it has a combination unification means 19 for a legal currency unit and a transaction (quantity) unit. In the transaction of one DA brand, when there are combinations of multiple types of legal currency units and transaction (quantity) units as the board information, it is configured to convert (unify) to a predetermined combination of legal currency units and transaction (quantity) units. Therefore, it is possible to conduct advantageous transactions by converting to an inexpensive "combination of legal currency units and transaction (quantity) units".

[0269] In addition, according to the digital asset swap system 1 of the present embodiment, it has a second reference price ratio calculation means 20, a second sales volume / purchase volume calculation means 21, and a second reference price ratio conversion board creation means 22. Using the board 105 in which the combination of the legal currency unit and the transaction (quantity) unit is converted (unified) by the combination unification means 19 of the legal currency unit and the transaction (quantity) unit, taking the predetermined price of the DA brand as the reference price, calculating the ratio of each price of the converted (unified) board 105 to the reference price as the second reference price ratio, using the price and the sell order quantity in the board 105 in which the combination of the legal currency unit and the transaction (quantity) unit is converted (unified) by the combination unification means 19 of the legal currency unit and the transaction (quantity) unit, calculating the selling volume and the buying volume for each price, and creating a second reference price ratio conversion board 106 in which the selling volume and the buying volume calculated by the second sales volume / purchase volume calculation means 21 are arranged for each second reference price ratio calculated by the second reference price ratio calculation means 20. Therefore, it is possible to determine whether it is inexpensive or expensive relative to the reference price, and a trader who desires to trade DA can easily grasp the validity of the value of DA.

[0270] Further, according to the digital asset swap system 1 of the present embodiment, a plurality of DA stock integrated plate creation means 16 integrates the first reference price ratio conversion plate 101 for a plurality of DA stocks created by the first reference price ratio conversion plate creation means 12 and / or the second reference price ratio conversion plate 106 for a plurality of DA stocks created by the second reference price ratio conversion plate creation means 20 to create a plurality of DA stock integrated plates 103. Therefore, it is possible to determine overpriced and underpriced for each reference price when performing exchanges between DAs with a complex many-to-many combination.

[0271] Further, according to the digital asset swap system 1 of the present embodiment, the reference price ratio sorting means 17 sorts the plate information of the plurality of DA stock integrated plates 103 integrated by the plurality of DA stock integrated plate creation means 16 in the order of the first reference price ratio and / or the second reference price ratio (excluding those with zero selling and buying volumes). Therefore, it is possible to easily determine underpriced and overpriced for the reference price based on the reference price ratio.

[0272] Further, according to the digital asset swap system 1 of the present embodiment, the plate information change control means 18 is interlocked with the plurality of DA stock integrated plates 103, the basic processing plate (individual transaction plate) 100, the first reference price ratio conversion plate 101, the direct exchange plate 102 between the first DA stock and the second DA stock, the plate 105 in which the combination of the legal currency unit and the transaction (quantity) unit is converted (unified), and the second reference price ratio conversion plate 106. When the reference price and the content of the plate information are changed, the content of the plate information sorted in the plurality of DA stock integrated plates 103 is also controlled to be changed synchronously. Therefore, it is possible to perform reliable transactions at stable transaction prices.

[0273] Moreover, according to the digital asset swap system 1 of the present embodiment, the combination unification means 19 of the legal currency unit and the trading (quantity) unit creates, as the board information, the board information of the basic processing board (individual trading board) created in combination with the legal currency unit: dollar and the trading (quantity) unit: ounce in the trading of the first DA brand, and creates a board converted to the legal currency unit: yen and the trading (quantity) unit: gram. Therefore, it is possible to embody a configuration for conducting advantageous trading by converting to a "combination of legal currency unit and trading (quantity) unit" that is inexpensive.

[0274] Moreover, according to the digital asset swap system 1 of the present embodiment, the reference price ratio sorting means 17 has the original DA brand identifier information adding means 23, and in the individual board information of the sorted data, an identifier such as a flag indicating the original DA brand is added. Therefore, it is possible to recognize the original DA brand of the individual board information shown on the integrated board that unifies each DA brand, etc., and to determine whether it is overpriced or underpriced with respect to the relative reference prices of other DA brands for the original DA brand.

[0275] Moreover, according to the digital asset swap system 1 of the present embodiment, after the content of the reference price or board information in the basic processing board (individual trading board) 100, the first reference price ratio conversion board 101, and the direct exchange board 102 between the first DA brand and the second DA brand is changed, the board information content sorted in the multiple DA brand integrated board 103 is changed at a predetermined interval such as in units of 0.5 seconds. Therefore, compared with the case of constantly recalculating for changing the board information content, the processing load can be reduced and the processing can be made more efficient.

[0276] Also, according to the digital asset swap system 1 of the present embodiment, after the board information change control means 18 changes the reference price and the content of the board information in the basic processing board (individual transaction board) 100, the first reference price ratio conversion board 101, the direct exchange board 102 for the first DA stock and the second DA stock, the board 105 in which the combination of the legal currency unit and the transaction (quantity) unit is converted (unified), and the second reference price ratio conversion board 106, at a predetermined interval such as in units of 0.5 seconds, the content of the board information sorted in the plurality of DA stock integrated boards 103 is changed. Therefore, compared with the case where recalculation for changing the board information content is constantly performed, the processing load can be reduced and the processing can be made more efficient.

[0277] Also, according to the digital asset swap system 1 of the present embodiment, for the board information of the same DA stock with different exchange rates and trading volumes, the plurality of DA stock integrated board creating means arranges them in the same column to create the plurality of DA stock integrated boards. Therefore, it is possible to easily determine which is overvalued and which is undervalued for each reference price of the same DA stock with different exchange rates and trading volumes.

[0278] Also, according to the digital asset swap system 1 of the present embodiment, for the board information of different DA stocks, the plurality of DA stock integrated board creating means 16 creates the plurality of DA stock integrated boards 103 by shifting them in the horizontal columns. Therefore, it is possible to easily visually recognize the board information for each DA stock.

[0279] Also, according to the digital asset swap system 1 of the present embodiment, it further has integrated board transaction process control means 24. When different DA stocks between two parties are in a cross state in the plurality of DA stock integrated boards 103, the DA stocks of the two parties are exchanged within the plurality of DA stock integrated boards 103, and control is performed so that the exchange process between DA and currency becomes unnecessary. Therefore, different DA stocks between two parties can be directly exchanged without intervening in the exchange process between DA and currency.

[0280] Moreover, according to the digital asset swap system 1 of the present embodiment, since the integrated board trading process control means 24 is configured to control so as to unconditionally match the market maker's own lots when they are in a cross state with the same DA brand, the liquidity of the same DA brand can be ensured.

[0281] Moreover, according to the digital asset swap system 1 of the present embodiment, it further has liquidity analysis means 25 having a function of determining which of selling and buying is dominant based on the order depth of each board, and the integrated board trading process control means 24 is configured to control so as to match the market maker's own lots based on the board on the side determined to be dominant by the liquidity analysis means 25. Therefore, it is possible to more easily ensure the liquidity of the DA brand.

[0282] Moreover, according to the digital asset swap system 1 of the present embodiment, when the integrated board trading process control means 24 determines that selling is dominant by the liquidity analysis means 25, for buy orders where the first reference price ratio and / or the second reference price ratio on the buy board is higher than 1, it is configured to control so as to match with the sale of the market maker's own lots. Therefore, it is possible to more easily ensure the liquidity of the DA brand.

[0283] Moreover, according to the digital asset swap system 1 of the present embodiment, when the integrated board trading process control means 24 determines that buying is dominant by the liquidity analysis means 25, for sell orders where the first reference price ratio and / or the second reference price ratio on the sell board is lower than 1, it is configured to control so as to match with the purchase of the market maker's own lots. Therefore, it is possible to more easily ensure the liquidity of the DA brand.

[0284] In addition, according to the digital asset swap system 1 of the present embodiment, when different DA brands between two parties do not cross in the plurality of DA brand integrated board 103, the integrated board trading process control means 24 sends it back to the basic processing board (individual trading board) 100 of the DA brand, and controls the basic processing board (individual trading board) 100 to perform the exchange process with each currency. Therefore, different DA brands can be exchanged in the best way according to the cross state.

[0285] In addition, according to the digital asset swap system 1 of the present embodiment, it further includes a DA payment quantity calculation means 26, a DA payment quantity presentation means 27, a DA receipt quantity calculation means 28, a DA receipt quantity presentation means 29, and a first settlement instruction reception means 30. When selling a predetermined DA brand at a predetermined reference price ratio, for a predetermined settlement amount, based on the price of the basic processing board (individual trading board) 100 linked to the reference price ratio, calculate the payment quantity of the DA, and the DA payment quantity calculation means 27 presents the calculated payment quantity of the DA to the trader. When buying a predetermined DA brand at a predetermined reference price ratio, for a predetermined settlement amount, based on the price of the basic processing board (individual trading board) 100 linked to the reference price ratio, calculate the receipt quantity of the DA, and the DA receipt quantity calculation means 28 presents the calculated receipt quantity of the DA to the trader. The settlement instruction is received from the trader on the payment side who has received the presentation of the payment quantity of the DA by the DA payment quantity presentation means 27 and the trader on the receipt side who has received the presentation of the receipt quantity of the DA by the DA receipt quantity presentation means 29. Therefore, the exchange process of the DA can be performed in small trading (quantity) units such as 1g, ¥1, and less than ¥1.

[0286] Moreover, according to the digital asset swap system 1 of the present embodiment, it further has a plurality of DA brand integrated board creation means 31 with transaction prices, and a plurality of DA brand integrated boards 107 with transaction prices are created on the plurality of DA brand integrated boards 103 by adding the transaction prices of each DA brand in the basic processing board (individual transaction board) 100. Therefore, without using the original board (basic processing board (individual transaction board) 100), when the settlement price is determined, the exchange quantity of each other's DAs can be calculated, and the exchange process of the calculated quantity of DAs can be performed.

[0287] Moreover, according to the digital asset swap system 1 of the present embodiment, it further has a DA exchange quantity calculation means 32, a DA exchange quantity presentation means 33, and a second settlement instruction reception means 34. Based on the plurality of DA brand integrated boards 107 with transaction prices created by the plurality of DA brand integrated board creation means 31 with transaction prices, when the settlement price is determined, the exchange quantity of DAs between the traders is calculated, the calculated exchange quantity of the DA by the DA exchange quantity calculation means 32 is presented to the trader, and the settlement instruction from the trader to whom the exchange quantity of the DA is presented by the DA exchange quantity presentation means 33 is received. Therefore, without using the original board (basic processing board (individual transaction board) 100), the exchange process of DAs in small transaction (quantity) units such as 1g, ¥1, and less than ¥1 can be performed.

[0288] Moreover, according to the digital asset swap system 1 of the present embodiment, since the DA exchange quantity calculation means 32 is configured to calculate the value obtained by dividing the settlement price by the best bid price of the DA brand as the exchange quantity of the DA, the calculation of the exchange quantity of the DA by the DA exchange quantity calculation means 32 can be realized.

[0289] Moreover, according to the digital asset swap system 1 of the present embodiment, it further has a physical / CFD integrated board creation means 35, and is configured to create a physical / CFD integrated board 108 that integrates a physical board and a CFD (Contract For Difference) board. Therefore, advantageous barter can be performed for a wider range of DA brands.

[0290] Moreover, according to the digital asset swap system 1 of the present embodiment, since it has CFD quantity adjustment means 36 and is configured to adjust the quantity of CFDs to a quantity that matches the unit of the physical transaction (quantity), it is possible to conduct transactions between CFDs and physicals.

[0291] Moreover, according to the digital asset swap system 1 of the present embodiment, since it has physical quantity adjustment means 37 and is configured to adjust the quantity of physicals to a quantity that matches the unit of the CFD transaction (quantity), it is possible to conduct transactions between CFDs and physicals.

[0292] Moreover, according to the digital asset swap system 1 of the present embodiment, it further has physical / CFD integrated board creation means 38, and is configured to create a physical / CFD integrated board 109 by integrating the board information of the physical board and the board information of the CFD (Contract For Difference) board with the transaction (quantity) units being matched as one piece of board information. Thus, it is possible to conduct transactions between CFDs and physicals in one piece of board information.

[0293] Moreover, according to the digital asset swap system 1 of the present embodiment, it further has DVP·RTGS integrated board creation means 39 and transfer timing adjustment control means 40 between DVP transaction ST and RTGS transaction ST. When the DA stock is a ST that conducts transactions using RTGS and DVP as different settlement methods for transfer, it is configured to create a DVP·RTGS integrated board 110 by integrating the board information of DVP into the board information of RTGS, and to control (basically, mainly adjust on the RTGS side) so that the transfer timing deviation between the board information of DVP and the board information of RTGS is absorbed by the market maker itself for adjustment. Therefore, even for transactions of DA stocks using different settlement methods for transfer, it is possible to exchange those DAs with each other.

[0294] Further, according to the digital asset swap system 1 of the present embodiment, it further includes a major DA trading board creation means 41 and a reference price calculation / setting means 42. For the DA (major DA) brand that serves as a reference in creating board information for DA brands, a major DA trading board 111 for conducting transactions with a reference currency (such as yen) is created. Based on the trading situation on the major DA trading board 111 created by the major DA trading board creation means 41, the reference prices of each DA brand are calculated and set. Therefore, based on the board information of the reference DA brand, it is possible to easily create the board information of DA brands other than the reference DA brand.

[0295] Further, according to the digital asset swap system 1 of the present embodiment, since the reference price calculation / setting means 42 calculates and sets the median price between the best ask and the best bid in the major DA trading board 111 as the reference price, based on the board information of the reference DA brand, it is possible to easily create the board information of DA brands other than the reference DA brand.

[0296] Further, according to the digital asset swap system 1 of the present embodiment, for the major DA brand in the major DA trading board 111, when there is no median price between the best ask and the best bid, the reference price calculation / setting means 42 calculates and sets the weighted average of the transaction prices within a predetermined trading time such as the previous 5 minutes (changeable) as the reference price. Therefore, the reference price in the board information of the reference DA brand can be embodied.

[0297] Further, according to the digital asset swap system 1 of the present embodiment, for the major DA brand in the major DA trading board 111, when there is neither a median price between the best ask and the best bid nor a weighted average of the transaction prices within a predetermined trading time such as the previous 5 minutes (changeable), the reference price calculation / setting means 42 calculates and sets the numerical value that is closer in time among the previously set reference price and the previously transacted price as the reference price. Therefore, the reference price in the board information of the reference DA brand can be embodied.

[0298] Moreover, according to the digital asset swap system 1 of the present embodiment, since it further has a liquidity state volatility calculation means 43 and is configured to calculate the volatility (volatility) of the liquidity state of the DA stock, the trading risk of the DA stock can be grasped based on the liquidity state volatility.

[0299] Moreover, according to the digital asset swap system 1 of the present embodiment, when the number of transactions within a predetermined trading time such as the previous 5 minutes (changeable) for the DA stock is 20 (changeable) or more, the liquidity state volatility calculation means 43 calculates the transaction volatility within the predetermined trading time and calculates the calculated transaction volatility as the volatility (volatility) of the liquidity state. Therefore, the calculation of the liquidity state volatility for the DA stock can be realized.

[0300] Moreover, according to the digital asset swap system 1 of the present embodiment, when the number of transactions within a predetermined trading time such as the previous 5 minutes (changeable) for the DA stock is less than 20 (changeable), and when the signs of both selling and buying (the central values of selling and buying) within the predetermined trading time are 20 (changeable) or more, the liquidity state volatility calculation means 43 calculates the volatility of both the selling sign and the buying sign within the predetermined trading time, and calculates the calculated volatility of both the selling sign and the buying sign as the volatility (volatility) of the liquidity state. Therefore, the calculation of the liquidity state volatility for the DA stock can be realized.

[0301] Moreover, according to the digital asset swap system 1 of the present embodiment, when the number of transactions within a predetermined trading time such as the previous 5 minutes (changeable) for the DA stock is less than 20 (changeable), and the signs of both selling and buying (the central values of selling and buying) within the predetermined trading time are less than 20 (changeable), the liquidity state volatility calculation means 43 calculates the previously calculated volatility as the volatility (volatility) of the liquidity state. Therefore, it becomes possible to realize the calculation of the liquidity state volatility for the DA stock.

[0302] Also, according to the digital asset swap system 1 of the present embodiment, when creating an integrated board that unifies each DA brand for each major frame, the board information change control means 18 synchronizes when the reference price or the content of the board information is changed, and when repeating the recalculation of the content of the board information based on the reference price, based on the volatility (volatility) of the liquidity state for each DA brand calculated by the liquidity state volatility calculation means 43, the first reference price ratio for the DA brand is corrected. Therefore, based on the liquidity state volatility, while determining whether the DA is undervalued or overvalued relative to the reference price according to the trading risk of the DA brand, it becomes possible for traders who desire to trade DA to grasp the validity of the value of the DA.

[0303] Also, according to the digital asset swap system 1 of the present embodiment, when creating an integrated board that unifies each DA brand for each major frame, the board information change control means 18 synchronizes when the reference price or the content of the board information is changed, and when repeating the recalculation of the content of the board information based on the reference price, based on the volatility (volatility) of the liquidity state for each DA brand calculated by the liquidity state volatility calculation means 43, the first reference price ratio, and / or the second reference price ratio for the DA brand is corrected. Therefore, based on the liquidity state volatility, while determining whether the DA is undervalued or overvalued relative to the reference price according to the trading risk of the DA brand, it becomes possible for traders who desire to trade DA to grasp the validity of the value of the DA.

[0304] Further, according to the digital asset swap system 1 of the present embodiment, a reference price ratio correction table 112 is provided in which a correction amount (addition value or subtraction value) to the reference price ratio according to the range of the volatility (volatility) of the liquidity state is set for each DA stock. The board information change control means 18 collates the volatility (volatility) of the liquidity state for each DA stock calculated by the liquidity state volatility calculation means 43 with the range of the volatility (volatility) of the liquidity state corresponding to the DA stock set in the reference price ratio correction table 112, and based on the correction amount (addition value or subtraction value) set within the range of the volatility (volatility) of the liquidity state, the first reference price ratio is corrected. Therefore, it becomes possible to easily correct the reference price ratio based on the volatility (volatility) of the liquidity state for each DA stock.

[0305] Further, according to the digital asset swap system 1 of the present embodiment, a reference price ratio correction table 112 is provided in which a correction amount (addition value or subtraction value) to the reference price ratio according to the range of the volatility (volatility) of the liquidity state is set for each DA stock. The board information change control means 18 collates the volatility (volatility) of the liquidity state for each DA stock calculated by the liquidity state volatility calculation means 43 with the range of the volatility (volatility) of the liquidity state corresponding to the DA stock set in the reference price ratio correction table 112, and based on the correction amount (addition value or subtraction value) set within the range of the volatility (volatility) of the liquidity state, the first reference price ratio and / or the second reference price ratio is corrected. Therefore, it becomes possible to easily correct the reference price ratio based on the volatility (volatility) of the liquidity state for each DA stock.

[0306] Therefore, according to each of the above embodiments, a digital asset swap system can be obtained in which a trader who desires to trade DA can easily grasp the validity of the value of DA, conduct a reliable transaction at a stable transaction price, can settle without using fiat currency, and can further exchange DAs through a complex combination of many-to-many.

[0307] As described above, the preferred embodiments of the present invention have been described in detail. However, the present invention is not limited to the above-described embodiments, and various modifications and substitutions can be made to the above-described embodiments without departing from the scope of the present invention, including the contents considered and examined by the inventor in the process of deriving the present invention.

Industrial Applicability

[0308] The digital asset swap system of the present invention is useful in fields that handle transactions using digital assets, such as those widely sold, including precious metals, non-ferrous metals, energies such as oil, gas, and electricity, storable agricultural products such as rice and sugar, artworks, drinking water, and others whose economic value is digitally represented.

Explanation of Signs

[0309] 1 Digital asset swap system 11 Basic processing board creation means 12 First reference price ratio calculation means 13 First sales volume and purchase volume calculation means 14 First reference price ratio conversion board creation means 15 DA stock direct exchange board creation means 15-1 Board information sorting order conversion board creation means 15-2 First and second DA stock sales volume and purchase volume calculation control means 15-3 Buying and selling order price association means 15-4 DA stock exchange ratio calculation means 15-5 First order board data creation means 15-5-1 Second DA stock selling volume conversion means 15-5-2 First available transaction amount extraction means 15-5-3 Upper limit value calculation means for the delivery amount of the second DA stock in the first transaction 15-5-4 Upper limit value calculation means for the delivery amount of the first DA stock in the first transaction 15-6 Second order board data creation means 15-6-1 Second DA stock buying volume conversion means 15-6-2 Second available transaction amount extraction means Upper limit value calculation means for the delivery quantity of the second DA stock in the second transaction Upper limit value calculation means for the delivery quantity of the first DA stock in the second transaction Integrated board creation means for multiple DA stocks Reference price ratio sorting means Board information change control means Combination unification means for legal currency units and trading (quantity) units Second reference price ratio calculation means Second sales volume and purchase volume calculation means Second reference price ratio conversion board creation means Original DA stock identifier information addition means Integrated board trading process control means Liquidity analysis means DA payment quantity calculation means DA payment quantity presentation means DA receipt quantity calculation means DA receipt quantity presentation means First settlement instruction reception means Integrated board creation means for multiple DA stocks with transaction prices DA exchange quantity calculation means DA exchange quantity presentation means Second settlement instruction reception means Physical / CFD integrated board creation means CFD quantity adjustment means Physical quantity adjustment means Physical / CFD fusion board creation means DVP / RTGS integrated board creation means Timing adjustment control means for the transfer between DVP transaction ST and RTGS transaction ST Major DA transaction board creation means Reference price calculation and setting means Liquidity state change rate calculation means Basic processing board (individual transaction board) Basic processing board (individual transaction board) for the first DA stock Basic processing board (individual transaction board) for the second DA stock 101 First reference price ratio conversion board 102 Direct exchange board for the first DA stock and the second DA stock 103 Integrated board for multiple DA stocks 104 Board information order conversion board for the first DA stock 105 Board with the combination of legal currency unit and trading (quantity) unit converted (unified) 106 Second reference price ratio conversion board 107 Integrated board for multiple DA stocks with transaction prices 108 Physical / CFD integrated board 109 Physical / CFD fusion board 110 DVP / RTGS integrated board 111 Major DA trading board 112 Reference price ratio correction table

Claims

1. A digital asset swap system for exchanging digital assets (DA) in the transaction and settlement of a wide range of digital rights including those tokenized with distributed technologies such as blockchain, digital assets like digital currencies or commodity assets (precious metals (such as gold), CO ２ emission rights, energy (such as crude oil and electricity)) as asset raw materials, and digital securities-like ones, which is constructed with a distributed ledger such as blockchain and a smart contract or server application for performing a predetermined process using the data managed in the distributed ledger. Basic processing board creation means having a function of creating a basic processing board (individual transaction board) in a predetermined legal currency, which consists of a sell order board showing the sell order quantity for each price in a predetermined trading (quantity) unit for each DA stock and a buy order board showing the buy order quantity; First reference price ratio calculation means having a function of using the basic processing board (individual transaction board) created by the basic processing board creation means, setting a predetermined price for each DA stock as a reference price, and calculating the ratio of each price in the basic processing board (individual transaction board) to the reference price as a first reference price ratio; First sales volume and purchase volume calculation means having a function of calculating the sales volume (= price × sell order quantity) and purchase volume (= price × buy order quantity) for each price using each price and each sell order quantity in the basic processing board (individual transaction board) created by the basic processing board creation means; First reference price ratio conversion board creation means having a function of creating a first reference price ratio conversion board in which the sales volume and purchase volume calculated by the first sales volume and purchase volume calculation means are arranged for each first reference price ratio calculated by the first reference price ratio calculation means; DA stock direct exchange board creation means having a function of creating a direct exchange board between a first DA stock and a second DA stock based on the board information of the basic processing board (individual transaction board) in a predetermined legal currency of the first DA stock created by the basic processing board creation means and the board information of the basic processing board (individual transaction board) in a predetermined legal currency of the second DA stock; Multiple DA stock integrated board creation means having a function of creating a multiple DA stock integrated board by integrating the first reference price ratio conversion boards for multiple DA stocks created by the first reference price ratio conversion board creation means; Reference price ratio sorting means having a function of sorting the board information of the multiple DA stock integrated board integrated by the multiple DA stock integrated board creation means in the order of the first reference price ratio (excluding those with a sales volume and purchase volume of 0); Board information change control means having a function of controlling such that when the multiple DA stock integrated board is linked to the basic processing board (individual transaction board), the first reference price ratio conversion board, and the direct exchange board between the first DA stock and the second DA stock and synchronized when the reference price and the content of the board information are changed, the content of the board information sorted in the multiple DA stock integrated board is also changed; A digital asset swap system characterized by having

2. The DA brand direct exchange board creation means Plate information arrangement order conversion plate creation means having a function of creating a plate information arrangement order conversion plate of the first DA brand in which the order of the sell order quantity, buy order quantity, and price in the basic processing plate (individual transaction plate) of the first DA brand is converted to the reverse order; First and second DA brand sell volume / buy volume calculation control means having a function of calculating, via the first sell volume / buy volume calculation means, the sell volume and buy volume for each price in the plate information arrangement order conversion plate of the first DA brand created by the plate information arrangement order conversion plate creation means and the basic processing plate (individual transaction plate) of the second DA brand; Buy and sell order price association means having a function of associating the plate information arrangement order conversion plate of the first DA brand with the basic processing plate (individual transaction plate) of the second DA brand so that the price of the highest buy order in the plate information arrangement order conversion plate of the first DA brand corresponds to the price of the lowest sell order in the basic processing plate (individual transaction plate) of the second DA brand; DA brand exchange ratio calculation means having a function of calculating an exchange ratio of the second DA brand based on the first DA brand (quantity of the first DA brand that can be exchanged for the second DA brand per reference quantity (=1) of a predetermined transaction (quantity) unit = price of the second DA brand / price of the first brand) using the respective prices in the plate information arrangement order conversion plate of the first DA brand and the basic processing plate (individual transaction plate) of the second DA brand associated by the buy and sell order price association means; First order board data creation means having a function of creating order board data for a first transaction in which the second DA brand is sold and the first DA brand is bought based on the first DA brand; Second order board data creation means having a function of creating order board data for a second transaction in which the second DA brand is bought and the first DA brand is sold based on the first DA brand; The digital asset swap system according to claim 1, characterized by having

3. The first order board data creation means Second DA brand sell volume conversion means having a function of calculating an amount obtained by converting the sell volume of the second DA brand based on the first DA brand (= sell volume of the second DA brand / exchange ratio of the second DA brand based on the first DA brand calculated by the DA brand exchange ratio calculation means); A first tradable amount extraction means having a function of extracting, in a first transaction of selling a second DA stock and buying a first DA stock, the first tradable amount (the smaller of the amount obtained by converting the selling amount of the second DA stock calculated by the selling amount conversion means of the second DA stock based on the first DA stock and the buying amount of the first DA stock). A means for calculating the upper limit value of the delivery amount of the second DA stock in the first transaction, which has a function of calculating, in a first transaction of selling a second DA stock and buying a first DA stock, the upper limit value of the delivery amount of the second DA stock (in the first transaction of selling a second DA stock and buying a first DA stock, the first tradable amount extracted by the first tradable amount extraction means / the price of the second DA stock × the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means). A means for calculating the upper limit value of the delivery amount of the first DA stock in the first transaction, which has a function of calculating, in a first transaction of selling a second DA stock and buying a first DA stock, the upper limit value of the delivery amount of the first DA stock corresponding to the upper limit value of the delivery amount of the second DA stock in the first transaction calculated by the upper limit value calculation means of the delivery amount of the second DA stock in the first transaction (in the first transaction of selling a second DA stock and buying a first DA stock, the first tradable amount extracted by the first tradable amount extraction means / the price of the first DA stock × the exchange ratio of the second DA stock in terms of the first DA stock). The digital asset swap system according to claim 2, characterized by having the above.

4. The second order board data creation means The second order board data creation means has a function of a buying amount conversion means of the second DA stock for calculating an amount obtained by converting the buying amount of the second DA stock based on the first DA stock (= the buying amount of the second DA stock / the exchange ratio of the second DA stock in terms of the first DA stock calculated by the DA stock exchange ratio calculation means). A second tradable amount extraction means having a function of extracting, in a second transaction of buying a second DA stock and selling a first DA stock, the second tradable amount (the smaller of the amount obtained by converting the buying amount of the second DA stock calculated by the buying amount conversion means of the second DA stock based on the first DA stock and the selling amount of the first DA stock). A second upper limit value calculating means for the delivery quantity of the second DA brand in a second transaction of buying the second DA brand and selling the first DA brand, which is the upper limit value of the delivery quantity of the second DA brand in the second transaction of buying the second DA brand and selling the first DA brand (the second available transaction amount extracted by the second available transaction amount extracting means in the second transaction of buying the second DA brand and selling the first DA brand / the price of the second DA brand × the exchange ratio of the second DA brand in terms of the first DA brand calculated by the DA brand exchange ratio calculating means); A first upper limit value calculating means for the delivery quantity of the first DA brand in a second transaction of buying the second DA brand and selling the first DA brand, which is the upper limit value of the delivery quantity of the first DA brand corresponding to the upper limit value of the delivery quantity of the second DA brand in the second transaction calculated by the upper limit value calculating means for the delivery quantity of the second DA brand in the second transaction in the second transaction of buying the second DA brand and selling the first DA brand (the second available transaction amount extracted by the second available transaction amount extracting means in the second transaction of buying the second DA brand and selling the first DA brand / the price of the first DA brand × the exchange ratio of the second DA brand in terms of the first DA brand); The digital asset swap system according to claim 2 or 3, characterized by having the above.

5. In a transaction of one DA brand, when there are combinations of multiple types of legal currency units and transaction (quantity) units as board information, a combination unifying means for legal currency units and transaction (quantity) units having a function of converting (unifying) to a predetermined combination of legal currency units and transaction (quantity) units; Using the board in which the combination of legal currency units and transaction (quantity) units is converted (unified) by the combination unifying means for legal currency units and transaction (quantity) units, taking the predetermined price of the DA brand as the reference price, and having a function of calculating the ratio of each price of the converted (unified) board to the reference price as the second reference price ratio; Using the price and sell order quantity in the board in which the combination of legal currency units and transaction (quantity) units is converted (unified) by the combination unifying means for legal currency units and transaction (quantity) units, having a function of calculating the sell volume and buy volume for each price; For each of the second reference price ratios calculated by the second reference price ratio calculating means, there is a second reference price ratio conversion plate creating means having a function of creating a second reference price ratio conversion plate in which the selling quantity and the buying quantity calculated by the second selling / buying quantity calculating means are arranged. It has The plurality of DA stock integrated plate creating means has a function of creating a plurality of DA stock integrated plates by integrating the first reference price ratio conversion plates for the plurality of DA stocks created by the first reference price ratio conversion plate creating means and / or the second reference price ratio conversion plates for the plurality of DA stocks created by the second reference price ratio conversion plate creating means. The reference price ratio sorting means has a function of sorting the plate information of the plurality of DA stock integrated plates integrated by the plurality of DA stock integrated plate creating means in the order of the first reference price ratio and / or the second reference price ratio (excluding those with the selling quantity and the buying quantity being 0). The plate information change control means has a function of controlling such that when the plurality of DA stock integrated plates are linked with the basic processing plate (individual transaction plate), the first reference price ratio conversion plate, the direct exchange plate between the first DA stock and the second DA stock, the plate in which the combination of the legal currency unit and the transaction (quantity) unit is converted (unified), and the second reference price ratio conversion plate, and the content of the reference price and the plate information is changed, the content of the plate information sorted in the plurality of DA stock integrated plates is also changed synchronously. The digital asset swap system according to any one of claims 1 to 4, characterized by this.

6. The combination unifying means for the legal currency unit and the transaction (quantity) unit has a function of creating a plate obtained by converting the plate information of the basic processing plate (individual transaction plate) created in combination with the legal currency unit: dollar and the transaction (quantity) unit: ounce as plate information in the transaction of the first DA stock into the legal currency unit: yen and the transaction (quantity) unit: gram. The digital asset swap system according to claim 5, characterized by this.

7. The digital asset swap system according to any one of claims 1 to 6, further comprising original DA stock identifier information adding means having a function of adding an identifier such as a flag indicating the original DA stock to the individual plate information of the data sorted by the reference price ratio sorting means.

8. After the content of the reference price or board information in the basic processing board (individual transaction board), the first reference price ratio conversion board, and the direct exchange board between the first DA issue and the second DA issue is changed, the board information change control means has a function of changing the content of the board information sorted in the plurality of DA issue integrated boards at a predetermined interval such as in units of 0.5 seconds. The digital asset swap system according to any one of claims 1 to 4, characterized in that.

9. After the content of the reference price or board information in the basic processing board (individual transaction board), the first reference price ratio conversion board, the direct exchange board between the first DA issue and the second DA issue, the board in which the combination of the legal currency unit and the transaction (quantity) unit is converted (unified), and the second reference price ratio conversion board is changed, the board information change control means has a function of changing the content of the board information sorted in the plurality of DA issue integrated boards at a predetermined interval such as in units of 0.5 seconds. The digital asset swap system according to any one of claims 5 to 7, characterized in that.

10. The plurality of DA issue integrated board creation means has a function of creating the plurality of DA issue integrated boards by arranging the board information of the same DA issue with different exchange rates and trading volumes in the same column. The digital asset swap system according to any one of claims 5 to 7, 9.

11. The plurality of DA issue integrated board creation means has a function of creating the plurality of DA issue integrated boards by shifting the board information of different DA issues in horizontal columns. The digital asset swap system according to any one of claims 1 to 10.

12. When different DA issues between two parties are in a cross state in the plurality of DA issue integrated boards, the integrated board transaction process control means further has a function of controlling so that the exchange process between the two DAs in the plurality of DA issue integrated boards is performed and the exchange process between DA and currency is not required. The digital asset swap system according to any one of claims 1 to 11, characterized in that.

13. The integrated board transaction process control means has a function of controlling so as to unconditionally conclude the market maker's own position when it is in a cross state with the same DA issue. The digital asset swap system according to claim 12, characterized in that.

14. Furthermore, it has liquidity analysis means having a function of judging which of selling and buying is dominant based on the order depth of each board. The integrated board trading processing control means has a function of controlling to match the market maker's own lots based on the board on the side determined to be advantageous by the liquidity analysis means. The digital asset swap system according to claim 12, characterized in that.

15. When the integrated board trading processing control means determines that selling is advantageous by the liquidity analysis means, for a buy order in which the first reference price ratio and / or the second reference price ratio on the buy board is higher than 1, The digital asset swap system according to claim 14, characterized in that it has a function of controlling to match with the sale of the market maker's own lots.

16. When the integrated board trading processing control means determines that buying is advantageous by the liquidity analysis means, for a sell order in which the first reference price ratio and / or the second reference price ratio on the sell board is lower than 1, The digital asset swap system according to claim 14, characterized in that it has a function of controlling to match with the purchase of the market maker's own lots.

17. When different DA brands between two parties do not cross in the integrated board of the plurality of DA brands, the integrated board trading processing control means sends them back to the basic processing board (individual trading board) of the DA brand, and controls to perform exchange processing with each currency on the basic processing board (individual trading board). The digital asset swap system according to any one of claims 12 to 16, characterized in that it has a function.

18. DA payment quantity calculation means having a function of calculating the payment quantity of the DA based on the price of the basic processing board (individual trading board) linked to the reference price ratio for a predetermined settlement amount when desiring to sell a predetermined DA brand at a predetermined reference price ratio, DA payment quantity presentation means having a function of presenting the payment quantity of the DA calculated by the DA payment quantity calculation means to the trader, DA receipt quantity calculation means having a function of calculating the receipt quantity of the DA based on the price of the basic processing board (individual trading board) linked to the reference price ratio for a predetermined settlement amount when desiring to buy a predetermined DA brand at a predetermined reference price ratio, DA receipt quantity presentation means having a function of presenting the receipt quantity of the DA calculated by the DA receipt quantity calculation means to the trader, A first settlement instruction receiving means having a function of receiving a settlement instruction from the trader on the payment side who has received the presentation of the DA payment quantity by the DA payment quantity presentation means, and the trader on the receiving side who has received the presentation of the DA receipt quantity by the DA receipt quantity presentation means; The digital asset swap system according to any one of claims 1 to 17, further comprising the above.

19. The digital asset swap system according to any one of claims 1 to 18, further comprising a means for creating a plurality of DA brand integrated boards with transaction prices, which has a function of creating a plurality of DA brand integrated boards with transaction prices by adding the transaction prices of the respective DA brands on the basic processing board (individual transaction board) to the plurality of DA brand integrated boards.

20. Based on the plurality of DA brand integrated boards with transaction prices created by the means for creating a plurality of DA brand integrated boards with transaction prices, when the settlement price is determined, a DA exchange quantity calculation means having a function of calculating the exchange quantity of DAs between traders; A DA exchange quantity presentation means having a function of presenting the exchange quantity of the DA calculated by the DA exchange quantity calculation means to the trader; A second settlement instruction receiving means having a function of receiving a settlement instruction from the trader who has been presented with the exchange quantity of the DA by the DA exchange quantity presentation means; The digital asset swap system according to claim 19, further comprising the above.

21. The digital asset swap system according to claim 20, wherein the DA exchange quantity calculation means has a function of calculating, as the exchange quantity of the DA, a numerical value obtained by dividing the settlement price by the best bid price of the DA brand.

22. The digital asset swap system according to any one of claims 1 to 21, further comprising a means for creating a physical / CFD integrated board having a function of creating a physical / CFD integrated board integrating a physical board and a CFD (Contract For Difference) board.

23. The digital asset swap system according to claim 22, comprising a CFD quantity adjustment means having a function of adjusting the quantity of CFDs to a quantity that matches the unit of physical transaction (quantity).

24. The digital asset swap system according to claim 22, comprising a physical quantity adjustment means having a function of adjusting the quantity of physicals to a quantity that matches the unit of CFD transaction (quantity).

25. The digital asset swap system according to any one of claims 22 to 24, further comprising physical / CFD integrated board creation means having a function of creating a physical / CFD integrated board by integrating the board information of the physical board and the board information of the CFD (Contract For Difference) board with the trading (quantity) units being matched as one board information.

26. When the DA stock is an ST that conducts transactions using RTGS and DVP as settlement methods with different deliveries, DVP / RTGS integrated board creation means having a function of creating a DVP / RTGS integrated board by integrating the board information of DVP into the board information of RTGS, and Delivery timing adjustment control means between the DVP trading ST and the RTGS trading ST having a function of controlling so as to absorb and adjust the shift in delivery timing between the board information of DVP and the board information of RTGS by the market maker himself. The digital asset swap system according to any one of claims 1 to 25, further comprising the above.

27. Major DA trading board creation means having a function of creating a major DA trading board for conducting transactions with a reference currency (such as yen) with respect to a DA (major DA) stock that is a reference for creating board information for a DA stock, and Reference price calculation / setting means having a function of calculating and setting the reference price of each DA stock based on the trading situation on the major DA trading board created by the major DA trading board creation means. The digital asset swap system according to any one of claims 1 to 26, further comprising the above.

28. The digital asset swap system according to claim 27, wherein the reference price calculation / setting means has a function of calculating and setting the median price between the best ask and the best bid on the major DA trading board as the reference price.

29. The digital asset swap system according to claim 28, wherein the reference price calculation / setting means has a function of calculating and setting, as the reference price, the weighted average of the transaction prices within a predetermined trading time such as the previous 5 minutes (changeable) when there is no median price between the best ask and the best bid for the major DA stock on the major DA trading board.

30. The reference price calculation / setting means has a function of calculating and setting, as the reference price, the numerical value that is closer in time among the reference price set immediately before and the price at which a transaction was concluded immediately before when there is no intermediate price between the best ask and the best bid for the relevant major DA issue on the major DA trading board or no weighted average of transaction prices within a predetermined trading time such as the immediately preceding five minutes (changeable), etc. The digital asset swap system according to claim 29, characterized in that it has such a function.

31. The digital asset swap system according to any one of claims 1 to 30, further comprising liquidity state volatility calculation means having a function of calculating the volatility (volatility) of the liquidity state of the DA issue.

32. When the number of transactions within a predetermined trading time such as the immediately preceding five minutes (changeable) for the relevant DA issue is 20 (changeable) or more, the liquidity state volatility calculation means calculates the transaction volatility within the predetermined trading time and calculates the calculated transaction volatility as the volatility (volatility) of the liquidity state. The digital asset swap system according to claim 31, characterized in that it has such a function.

33. When the number of transactions within a predetermined trading time such as the immediately preceding five minutes (changeable) for the relevant DA issue is less than 20 (changeable) and the ask and bid quotes (midpoint of ask and bid) for both selling and buying within the predetermined trading time are 20 (changeable) or more, the liquidity state volatility calculation means calculates the volatility of both the ask and bid quotes within the predetermined trading time and calculates the calculated volatility of both the ask and bid quotes as the volatility (volatility) of the liquidity state. The digital asset swap system according to claim 32, characterized in that it has such a function.

34. When the number of transactions within a predetermined trading time such as the immediately preceding five minutes (changeable) for the relevant DA issue is less than 20 (changeable) and the ask and bid quotes (midpoint of ask and bid) for both selling and buying within the predetermined trading time are less than 20 (changeable), the liquidity state volatility calculation means calculates the volatility calculated immediately before as the volatility (volatility) of the liquidity state. The digital asset swap system according to claim 33, characterized in that it has such a function.

35. In the case of creating an integrated board with unified DA stocks for each major frame, when the reference price or the content of the board information is changed, the board information change control means synchronously repeats the recalculation of the content of the board information based on the reference price, and based on the volatility (volatility) of the liquidity state for each DA stock calculated by the liquidity state volatility calculation means, it has a function of correcting the first reference price ratio for the DA stock. The digital asset swap system according to any one of claims 31 to 34, which depends on claim 8.

36. In the case of creating an integrated board with unified DA stocks for each major frame, when the reference price or the content of the board information is changed, the board information change control means synchronously repeats the recalculation of the content of the board information based on the reference price, and based on the volatility (volatility) of the liquidity state for each DA stock calculated by the liquidity state volatility calculation means, it has a function of correcting the first reference price ratio and / or the second reference price ratio for the DA stock. The digital asset swap system according to any one of claims 31 to 34, which depends on claim 9.

37. It has a reference price ratio correction table in which the correction amount (addition value or subtraction value) to the reference price ratio according to the range of the volatility (volatility) of the liquidity state is set for each DA stock, The board information change control means collates the volatility (volatility) of the liquidity state for each DA stock calculated by the liquidity state volatility calculation means with the range of the volatility (volatility) of the liquidity state corresponding to the DA stock set in the reference price ratio correction table, and based on the correction amount (addition value or subtraction value) set in the range of the volatility (volatility) of the liquidity state, it has a function of correcting the first reference price ratio for the DA stock. The digital asset swap system according to claim 35.

38. It has a reference price ratio correction table in which the correction amount (addition value or subtraction value) to the reference price ratio according to the range of the volatility (volatility) of the liquidity state is set for each DA stock, The plate information change control means collates the volatility of the flow state for each DA brand calculated by the flow state change rate calculation means with the range of the volatility of the flow state (volatility) corresponding to the DA brand set in the reference price ratio correction table, and based on the correction amount (addition value or production reduction value) set within the range of the volatility of the flow state (volatility), corrects the first reference price ratio and / or the second reference price ratio for the DA brand. The digital asset swap system according to claim 36, characterized by having a function of

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