Financial instrument trading management device, program

Abstract

We provide a financial instrument trading management system that enables trading of low-risk financial instruments regardless of the trading volume. [Solution] The financial instrument trading management device includes a prospective execution order processing unit 42 that performs predetermined calculations on the unexecuted but likely to be executed buy and sell customer order information 4511, 4521, which are among the buy and sell customer order information 451, 452 generated to place orders for financial instruments at the customer's instruction, and outputs the results. The prospective execution order processing unit 42 causes the unexecuted but likely to be executed buy and sell customer order information 4511, 4521 to perform a process to execute the orders, and generates summary information 511 and offsetting information 512 of all or part of the execution amount that will result from the execution of the likely to be executed orders, before the execution of the likely to be executed orders, and makes it possible to use the summary information 511 and offsetting information 512 for transmission to the financial institution's device.

Description

Technical Field

[0001] The present invention relates to a technology for managing and supporting transactions of various financial products. The present invention can be applied to devices and the like that manage and support transactions of various financial products.

Background Art

[0002] As trading methods for various financial products such as stocks, bonds, investment trusts, real estate investment trusts, commodities, foreign exchange, stock price indices, cryptographic assets, virtual currencies, etc., whose market prices fluctuate, market orders (an order form in which transactions are conducted at the market price at the time of order placement) and limit orders (a form in which transactions are conducted when the market price reaches a previously specified price) are known. When conducting transactions between customers and financial institutions such as banks through these trading methods by a financial product trader (hereinafter referred to as "trader"), the trader may conduct a covering transaction. This covering transaction refers to a transaction that offsets the position generated in the financial product transaction concluded between a bank or the like and a customer. By the trader conducting a transaction opposite to the transaction received from the customer as a covering transaction with a bank or the like, it becomes possible to hedge the risk of exchange rate fluctuations.

[0003] Conventionally, an invention for conducting transactions in these order forms, for example, transactions by limit orders, in a form including a covering transaction using a computer system is known (see, for example, Patent Document 1). In this invention, in currency transactions such as foreign exchange transactions, the actual value of a currency trading indicator is periodically acquired, and based on the specified value regarding the currency trading indicator received in advance and the acquired actual value, it is tentatively determined whether to conclude a currency transaction at the actual value. Then, when it is tentatively determined to conclude a currency transaction at the actual value, it is confirmed whether it is possible to conclude a covering transaction regarding the currency transaction. When it is confirmed that it is possible to conclude a covering transaction, the covering transaction is concluded, and the tentatively determined currency transaction is concluded.

Prior Art Documents

Patent Documents

[0004]

Patent Document 1

[0005] In the invention described in Patent Document 1, when a trading firm conducts transactions of financial instruments, the firm needs to conduct transactions with customers to execute financial instruments that match the market price, and cover transactions with banks, etc., based on the execution. In this case, the transaction with the customer is conducted first, and then the cover transaction is conducted based on the result of that transaction. However, since market prices change moment by moment, a large time difference between the transaction with the customer and the cover transaction increases the possibility that the price difference between the execution price of the financial instrument and the transaction price when conducting the cover transaction will increase, and the risk of the trading firm suffering actual losses increases. For this reason, it is desirable that the time difference between the execution of a financial instrument and the cover transaction be small. However, in the invention described in Patent Document 1, the data of each financial instrument executed in the transaction with the customer is sent sequentially to a dealing device that constitutes a computer system. The dealing device then sequentially performs cover transactions based on the data of that financial instrument. Therefore, if a large number of executions occur in a short period of time, the amount of data of the financial instruments to be processed becomes enormous, and the time required from execution to cover transaction inevitably becomes long. Therefore, the invention described in Patent Document 1 has the problem that the risk of traders suffering substantial losses increases depending on the increase in trading volume.

[0006] This invention has been made in view of the above problems, and aims to provide a financial instrument trading management device that enables the trading of low-risk financial instruments regardless of the trading volume in financial instrument trading conducted using a computer system. [Means for solving the problem]

[0007] To solve the above problem, the invention described in claim 1 is a financial instrument trading management device that enables trading of financial instruments between a plurality of customers who trade financial instruments and a financial instruments business operator that manages the trading of financial instruments by the plurality of customers, wherein, among the customer order information generated to place orders for financial instruments based on the instructions of the customers, the device performs a process of mutually performing a predetermined calculation on the order information to be executed for unexecuted buy orders and the order information to be executed for unexecuted sell orders, and outputs the result of the predetermined calculation, which is order information to be executed separately from the order information to be executed. The system includes a prospective execution order processing means, which performs the following actions for the unexecuted but likely to be executed orders that are traded based on the customer order information: to execute the unexecuted but likely to be executed orders based on the target order information; and to generate the prospective execution linkage information as information on the amount of executed, which is information on all or part of the amount of executed when the likely to be executed orders are executed. The prospective execution order processing means generates the information on the amount of executed before the likely to be executed orders are executed, and enables the generated information on the amount of executed to be transmitted to financial institution equipment handled by financial institutions.

[0008] The invention described in claim 2 is characterized in that, in addition to the configuration described in claim 1, the contracted quantity information is information about the quantity of a predetermined order.

[0009] The invention described in claim 3 is characterized in that, in addition to the configuration described in claim 1, it comprises a market price information acquisition means for acquiring market price information of the financial instrument, and the expected order processing means performs calculations to extract information on the contract amount using the market price of the financial instrument acquired by the market price information acquisition means as a predetermined condition.

[0010] The invention described in claim 4, in addition to the configuration described in claim 1, comprises a contract information processing means that performs a process of executing the order based on the customer order information, wherein the expected order processing means performs a calculation to extract information on the amount of the order to be executed at a time prior to the execution of the order by the contract information processing means.

[0011] The invention described in claim 5, in addition to the configuration described in claim 1, comprises a customer order information recording means for recording the customer order information, wherein the expected execution order processing means performs calculations to extract information on the execution amount from the customer order information recorded in the customer order information recording means that meet the predetermined conditions.

[0012] The invention described in claim 6 is characterized in that, in addition to the configuration described in claim 5, the customer order information recording means records the customer order information of buy orders and the customer order information of sell orders, and the expected execution order processing means performs a calculation to extract the execution amount information by offsetting the customer order information of buy orders and / or the customer order information of sell orders recorded in the customer order information recording means with the customer order information of buy orders and / or the customer order information of sell orders recorded in the customer order information recording means that meet predetermined conditions.

[0013] The invention described in claim 7 is characterized in that, in addition to the configuration described in claim 6, the expected execution order processing means performs a calculation to extract information on the execution amount by offsetting the customer order information of buy orders and the customer order information of sell orders that are in a price range that satisfies the criteria for execution in one go, as recorded in the customer order information recording means.

[0014] The invention described in claim 8 is a program characterized by causing a computer to function as a financial instrument trading management device according to any one of claims 1 to 7. [Effects of the Invention]

[0015] According to the invention described in claim 1, the expected order processing means causes the means for executing orders that are not yet executed but are likely to be executed, based on customer order information, to execute the unexecuted but likely to be executed orders, and generates information on the amount of executed orders that will result from the execution of the likely to be executed orders. Furthermore, the expected order processing means generates information on the amount of executed orders, which is information on all or part of the amount of executed orders, before the execution of the likely to be executed orders, and enables the use of the generated information on the amount of executed orders for transmission to financial institution equipment handled by financial institutions. In addition, the information on the amount of executed orders necessary for cover transactions that are performed in response to the execution can be formed as data smaller than the data required for the execution processing itself, thereby enabling cover transactions. This makes it possible to provide a financial instrument trading management device that enables trading of financial instruments with low risk regardless of the amount of trading in a computer system.

[0016] According to the invention described in claim 2, since the information on the contracted quantity is information on the quantity of a predetermined order, it is possible to perform cover transactions using only the small numerical data from the information on the executed orders. This makes it possible to provide a financial instrument trading management device with high reliability that enables the trading of financial instruments with low risk regardless of the amount of trading in a computer system.

[0017] According to the invention described in claim 3, by obtaining information on the contracted quantity based on the acquired market price of a financial instrument, it is possible to perform a cover transaction based on information on the contracted quantity of a financial instrument corresponding to any market price. Therefore, a cover transaction can be performed with small data for a financial instrument that has been contracted at a market price during a specific time period. This makes it possible to perform a cover transaction for a financial instrument corresponding to a market price with small risk, regardless of the amount of trading.

[0018] According to the invention described in claim 4, by performing an operation for extracting information on the contract quantity at a timing before the order is concluded, it is possible to perform a covering transaction before the process of concluding a financial product. As a result, it is possible to perform a prompt covering transaction and realize a transaction of a financial product with a small risk.

[0019] According to the invention described in claim 5, by performing an operation for extracting information on the contract quantity for the customer order information that conforms to a predetermined condition among the recorded customer order information, it is possible to perform a covering transaction with small data for each customer's order. As a result, for each customer's transaction of a financial product, it is possible to realize a transaction with a small risk regardless of the amount of the transaction volume.

[0020] According to the invention described in claim 6, information on the contract quantity is extracted by offsetting the customer order information of a buy order and / or the customer order information of a sell order that conforms to a predetermined condition and is recorded in the customer order information recording means. As a result, it is possible to offset the quantity of the previously recorded buy order and the quantity of the sell order, reduce the orders for covering transactions, and surely perform a transaction of a financial product with a small risk and a small data volume.

[0021] According to the invention described in claim 7, information on the contract quantity is extracted by offsetting the customer order information of a buy order and the customer order information of a sell order within a price range that satisfies the criterion for concluding a contract at one time. Then, information on the contract quantity required for a covering transaction existing in a specific price range can be extracted as a small data volume after offsetting. As a result, it is possible to reduce the orders for covering transactions and surely perform a transaction of a financial product with a small risk and a small data volume.

[0022] According to the invention described in claim 8, the present invention can be constructed in various computers and various computer systems.

Brief Description of the Drawings

[0023] [Figure 1]This is a system configuration diagram and a functional block diagram of the financial product trading management system and the financial product trading management device according to the embodiment of the present invention. [Figure 2] It is a conceptual diagram showing a state in which offset information is generated from customer order information for buying and selling and a covering transaction is performed in the financial product trading management device of the same. (a1) It is a conceptual diagram showing a state in which summary information is generated from customer order information for buying and selling in the order management device. (a2) It is a conceptual diagram of customer order information for buying and selling in which a transaction is assumed when generating summary information. (b1) It is a conceptual diagram showing a state in which offset information is generated from summary information in the dealing device. (b2) It is a conceptual diagram of summary information processed by the dealing device and a conceptual diagram of generated offset information. [Figure 3] It is a flowchart showing a processing procedure in the financial product trading management system and the financial product trading management device of the same.

Embodiments for Carrying Out the Invention

[0024] [Embodiment of the Invention] Hereinafter, embodiments of the present invention will be described with reference to the drawings.

[0025] [System Configuration] Embodiments of the present invention are shown in FIGS. 1 to 3.

[0026] FIG. 1 is a system configuration diagram and a functional block diagram of the financial product trading management system and the financial product trading management device according to this embodiment. As shown in the figure, the financial product trading management system 1A includes a financial product trading management device 1, n (n≧1) client terminals 21, 22, ··· 2

[0024] and a bank system 3. The financial product trading management device 1, the client terminals 21, 22, ··· 2 n and the bank system 3 can communicate with each other via a network 4 as a WAN (Wide Area Network). The financial product trading management system 1A of this embodiment deals with foreign exchange as a financial product.

[0027] The Financial Instruments Trading Management System 1 is a server computer managed and operated by a financial instruments business operator (hereinafter simply referred to as "trading operator") whose business is the trading of financial instruments. It is equipped with a web server function and a database function for storing large amounts of data. Here, "financial instruments" refers to financial products whose market prices fluctuate and which can be bought and sold, such as foreign exchange. However, the financial instruments handled by the Financial Instruments Trading Management System 1 may be any other type of financial instrument besides foreign exchange.

[0028] Client terminals 21, 22, ..., 2 n This refers to a communication terminal with data communication capabilities, owned and used by an individual or legal entity acting as a "customer" in the buying and selling of financial products. For example, client terminals 21, 22, ..., 2 n This includes personal computers, mobile phone terminals, etc. "Customer" refers primarily to individuals or corporations that conduct financial product buying and selling transactions with the handling company.

[0029] Although not shown in Figure 1, the financial instruments trading management device 1 and client terminals 21, 22, ..., 2 n Each of the banking systems 3 has its own hardware configuration. This hardware configuration includes, for example, at least one CPU (Central Processing Unit), RAM (Random Access Memory) which functions as the CPU's workspace, and ROM (Read Only Memory) on which boot programs and other startup programs are stored. This hardware configuration also includes, for example, auxiliary storage devices such as hard disks on which various programs and data are stored, and communication interfaces used for sending and receiving data. The auxiliary storage devices contain OS (Operating System) programs, various application programs, and data recorded in databases, and these programs and data work in cooperation with hardware resources through the CPU's arithmetic processing to realize various functions.

[0030] Furthermore, the financial instruments trading management device 1 and the banking system 3 may be formed by a single server computer or by multiple network computer systems. Also, the financial instruments trading management device 1 and the banking system 3 may be composed of multiple hardware components distributed on a network 4, such as a cloud computer system.

[0031] As shown in Figure 1, the client terminal 21 has an operation unit 21 used for inputting various instructions such as a mouse or keyboard, and a display unit 22 consisting of an LCD (Liquid Crystal Display) or the like that displays various instructions and images input from the operation unit 21. The operation unit 21 and the display unit 22 of the client terminal 21 may be configured as a touch panel type display that performs various inputs based on coordinate information of the contact position of a pointing device such as a finger or stylus. Although not shown, client terminals 22, ... 2 n It also has a similar operation unit and display unit. Note that client terminals 21, 22, ... 2 n Since they have the same configuration, they will be referred to as client terminal 2 below unless otherwise necessary.

[0032] Banking System 3 is a computer system used by companies that conduct cover transactions with banks and other trading companies, and it has the functions of a network server and a database server. As a functional means, Banking System 3 includes a transaction execution unit 31 which is a "transaction execution means" that conducts cover transactions with the financial instrument transaction management device 1.

[0033] [Details of the Financial Instruments Trading Management System] As shown in Figure 1, the financial instrument trading management device 1 comprises an order management device 40 and a dealing device 50. The order management device 40 mainly transmits and receives data and signals with the client terminal 2, and performs processes such as receiving orders from customers using the client terminal 2 and reporting executed orders to customers. The dealing device 50 mainly transmits and receives data and signals with the banking system 3, and performs processes such as conducting cover transactions associated with the execution of financial instruments with the banking system 3. The order management device 40 and the dealing device 50 may be formed by separate computer systems or by the same computer system.

[0034] The order management device 40 is equipped with functional means that are realized based on the various programs and hardware resources described above. These functional means include, for example, the customer order information generation unit 41 as a "customer order information generation means," the expected execution order processing unit 42 as a "expected execution order processing means," the market price information acquisition unit 43 as a "market price information acquisition means," the execution information processing unit 44 as a "execution information processing means," and the customer order information recording unit 45 as a "customer order information recording means."

[0035] The customer order information generation unit 41 generates customer order information for placing orders for the financial products based on customer instructions.

[0036] The order execution prospect processing unit 42 performs a predetermined calculation on the customer order information of orders that are likely to be executed under predetermined conditions, from among the customer order information generated by the customer order information generation unit 41, and outputs the result of the calculation.

[0037] The market price information acquisition unit 43 acquires market price information for financial instruments handled by the financial instrument trading management device 1. The market price information acquisition unit 43 performs the necessary processing and management on the acquired market price information for use by the order management device 40. The market price information acquisition unit 43 continuously and periodically acquires market price information for financial instruments through continuous acquisition of market information via the network 4, and records and manages the acquired market price information.

[0038] The trade information processing unit 44 performs the process of executing the customer order based on the customer order information. Specifically, the trade information processing unit 44 performs the process of executing the customer order based on the customer order information generated by the order information generation unit 16, and the process of sending the information of the executed customer order to the customer's client terminal 2. Here, "execution" refers to the various procedures and processes for completing the buying and selling of financial products based on the customer's order. In this embodiment, when an execution is completed, a foreign exchange transaction is carried out. Furthermore, when an execution is completed, the trade information processing unit 44 displays text information indicating that an execution has been completed on the display unit 22 of the client terminal 2, and also performs deposit and withdrawal processing of the client terminal's bank account based on the buying and selling price.

[0039] The customer order information recording unit 45 is a database that records data used by the financial instrument trading management device 1. In this embodiment, the customer order information recording unit 45 is formed by a relational database, but any format suitable for recording and rewriting large amounts of data, such as an object database, may be used. The customer order information recording unit 45 records an order table, a customer account information table that defines information such as the financial institution where the trader's account exists, the account name, and the balance, a currency pair order condition table that defines information such as the combination of currencies to be traded, and a sequence number table (each table is not shown).

[0040] The dealing device 50 includes a summary information management unit 51 and a cover transaction unit 52 as functional means realized based on the various programs and hardware resources described above.

[0041] The summary information management unit 51 acquires and records the summary information 511 generated in the execution forecast order processing unit 42.

[0042] The cover transaction unit 52 performs various processes to execute cover transactions with the banking system 3 based on the summary information 511 acquired or recorded by the summary information management unit 51.

[0043] [The principle of generating summary and offsetting information from customer order information to perform cover transactions] Figure 2 schematically illustrates the principle of generating summary information and offsetting information from customer order information to perform cover transactions in the financial instrument trading management device 1 of this embodiment. Figure 2(a1) is a conceptual diagram showing the state in which the order management device generates summary information from buy and sell customer order information. Figure 2(a2) is a conceptual diagram of buy and sell customer order information that is expected to be executed, used when generating summary information in the order management device. Figure 2(b1) is a conceptual diagram showing the state in which the dealing device generates offsetting information from summary information. Figure 2(b2) is a conceptual diagram of the summary information processed by the dealing device and a conceptual diagram of the offsetting information that is generated.

[0044] In this embodiment, the order management device 40's expected order processing unit 42 performs expected order processing based on customer order information generated by the customer order information generation unit 41 based on orders from multiple customers.

[0045] In this embodiment, customer order information, such as limit order information, is recorded. For example, as schematically shown in Figure 2, the customer order information recording unit 45 records multiple customer order information, such as buy customer order information 451 as "buy order customer order information" and sell customer order information 452 as "sell order customer order information". Both the buy customer order information 451 and the sell customer order information are data used to electronically perform transactions such as placing and executing orders at multiple order prices (for example, in the case of US dollar / Japanese yen, 1 dollar = 90.90 yen, 1 dollar = 91.00 yen, ... 1 dollar = 99.90 yen, 1 dollar = 100.00 yen, ... etc.).

[0046] Buy customer order information 451 and sell customer order information 452 are information about multiple customer orders received by the financial instrument trading management device 1 from multiple customers, respectively. However, one or both of the buy customer order information 451 and sell customer order information 452 may be orders from only one customer. Also, one or both of the buy customer order information 451 and sell customer order information 452 may be orders from only one customer.

[0047] The customer order information for buy orders 451 and the customer order information for sell orders 452 may include, in addition to the order price information, attribute information such as information identifying the customer who placed the order, information indicating the order date and time and the execution date and time, and information indicating the order status and execution status.

[0048] The order execution processing unit 42 shown in Figure 1 extracts the buy customer order information 4511, which is expected to be executed, and the sell customer order information 4521, which is expected to be executed, from the buy customer order information 451 and sell customer order information 452 shown in Figure 2. In Figure 2, as an example of the buy and sell customer order information 4511 and 4521 that is expected to be executed, the orders are presented to the customer as a 2-way price, with different buy order prices (Ask) and sell order prices (Bid) relative to a specific market price. This 2-way price shows both the current buy price (Ask) and the current sell price (Bid) of the financial instrument being traded, and in this embodiment, this 2-way price forms a "price range that satisfies the criteria for execution in one go".

[0049] In this embodiment, the "price range that satisfies the criteria for execution in one transaction" can be any one or more prices that can constitute an order in which a customer can conduct a buy or sell transaction at a specific time or time period, or in which the financial instrument trading management device 1 can offset buy and sell orders. For example, it could be the price of the same buy order and sell order for a financial instrument at a specific time or time period (both buy and sell orders being at 1 dollar = 100.00 yen, 1 dollar = 101.00 yen, 1 dollar = 102.00 yen, etc.).

[0050] The schematic diagram in Figure 2 shows only one type of 2-way price (the market price of 99.00 yen to 100.00 yen per dollar (bid-ask)) as the "price range that satisfies the criteria for execution in one transaction" for the sake of simplicity. However, in actual operation, multiple types of "price ranges that satisfy the criteria for execution in one transaction" (for example, 100.01 yen to 101.00 yen per dollar, 101.01 yen to 102.00 yen per dollar, 102.01 yen to 103.00 yen per dollar, etc.) are usually set.

[0051] Furthermore, while it is assumed that multiple "price ranges that meet the criteria for execution in a single transaction" are, in principle, all the same price range, this is not necessarily the only option. For example, the "price ranges that meet the criteria for execution in a single transaction" may be configured to fluctuate individually after the start of trading, depending on information such as trailing stop width and slippage at the time of execution that causes the execution price set in the buy customer order information 451 and sell customer order information 452.

[0052] The expected execution order processing unit 42 extracts the information necessary for cover trading from the expected buy and sell customer order information 4511 and 4521, respectively. Specifically, the expected execution order processing unit 42 extracts "information on the amount to be executed" from the expected buy and sell customer order information 4511 and 4521, respectively. In this embodiment, this refers to "information on the amount to be executed" and "information on the quantity of the order". Figure 2 shows the state in which three orders (1,000 units, 2,000 units, and 7,000 units) of 1 dollar = 100.00 yen have been extracted as expected buy customer order information 4511. Also, Figure 2 shows the state in which two orders (10,000 units and 10,000 units) of 1 dollar = 99.00 yen have been extracted as expected sell customer order information 4521.

[0053] The order execution processing unit 42 generates summary information 511 based on the buy and sell customer order information 4511 and 4521 that are expected to be executed. This summary information 511 includes the sum of the order quantities (10,000 currency units) of the buy customer order information 4511 that are expected to be executed, and the sum of the order quantities (20,000 currency units) of the sell customer order information 4521 that are expected to be executed. The sum of the order quantities included in the summary information 511 (10,000 currency units for buys and 20,000 currency units for sells) forms the "execution quantity information" and "order quantity information" described above.

[0054] The order processing unit 42 processes the generated summary information 511 to transmit it to the dealing device 50. The dealing device 50 offsets the order quantities of buy orders and sell orders included in the summary information 511. Here, the order quantity of buy orders of 10,000 currency units included in the summary information 511 is offset against the order quantity of sell orders of 20,000 currency units to obtain a sell order quantity of 10,000 currency units, which is calculated as offset information 512, representing "order quantity information" and "order quantity information". The cover trading unit 52 of the dealing device 50 sends this offset information 512 to the banking system 3 as cover trading information. The transaction execution unit 31 of the banking system 3 performs cover trading based on this offset information 512.

[0055] Furthermore, the order management device 40's execution information processing unit 44 performs execution processing using the expected buy and sell customer order information 4511 and 4521, separate from the generation of summary information 511 in the expected execution order processing unit 42. This allows for execution processing of order information separately from cover transactions using summary information 511 and offsetting information 512.

[0056] In this embodiment, the generation of summary information 511 in the expected execution order processing unit 42 and the cover transaction using offsetting information 512 by the cover transaction unit 52 are set to occur simultaneously with or before the order information execution processing in the execution information processing unit 44. By performing the cover transaction before the execution processing, the risk of the trading firm incurring losses due to the timing of the cover transaction being delayed compared to the execution of the order can be reduced. In addition, the amount of data for the summary information 511 and offsetting information 512 is generated to be smaller than the amount of data for the buy and sell customer order information 4511 and 4521 that are expected to be executed. By reducing the amount of data for the summary information 511 and offsetting information 512, the time required for sending and receiving data for the cover transaction and for data processing in the transaction execution unit 31 of the banking system 3 can be shortened. This reduces the risk of the trading firm incurring losses due to the timing of the cover transaction being delayed compared to the execution of the order.

[0057] In this way, by forming summary information 511 and then using offsetting information 512 to conduct cover transactions, it is possible to prevent delays in the timing of cover transactions when executing financial product trades. This also reduces the risk of losses incurred by trading firms.

[0058] In this embodiment, the expected order processing unit 42 generates summary information 511 and the summary information management unit 51 generates offsetting information 512, but the configuration and processing are not limited to this. For example, the expected order processing unit 42 may generate offsetting information 512 from the expected buy and sell customer order information 4511 and 4521. Alternatively, the summary information management unit 51 may not generate offsetting information 512 from the summary information 511, and the cover trading unit 52 may use the summary information 511 to perform a cover transaction with the bank system 3. In addition to this configuration, any configuration or processing is acceptable as long as the cover trading unit 52 of the dealing device 50 can perform a cover transaction before the execution process using information with a smaller data volume than the expected buy and sell customer order information 4511 and 4521.

[0059] The buy customer order information 451 and sell customer order information 452, which form the basis for generating the summary information 511 and offsetting information 512, are primarily information for conducting limit order transactions. However, other orders besides limit orders may also be used, such as trigger market orders that are placed and executed when the market price reaches a specific price, or regular market orders.

[0060] [Processing Procedure] Figure 3 is a flowchart showing the processing procedure in the financial instrument trading management system and financial instrument trading device of this embodiment. The processing procedure in this embodiment will be described below based on this flowchart.

[0061] First, the customer order information generation unit 41 of the financial instrument trading management device 1 generates buy and sell order information for buying and selling financial instruments, and records it in the customer order information recording unit 45 as buy customer order information 451 and sell customer order information 452. In this state, the financial instrument trading management device 1 starts trading financial instruments, and the processing procedure shown in Figure 3 begins.

[0062] The market price information acquisition unit 43 of the financial instrument trading management device 1 continuously acquires market price information for financial instruments (step S1). The expected order processing unit 42 and the trade information processing unit 44 continuously monitor the market prices of financial instruments acquired by the market price information acquisition unit 43.

[0063] The order execution processing unit 42 and the order execution information processing unit 44 check whether the market price matches any of the price ranges recorded in the customer order information recording unit 45 that meet the criteria for execution in one go. In other words, the order execution processing unit 42 and the order execution information processing unit 44 check whether the market price matches the buy customer order information 451 and sell customer order information 452 that constitute a specific 2-way price.

[0064] Consider the case where the market price matches the buy customer order information 451 and sell customer order information 452 recorded in the customer order information recording unit 45 that constitute a specific 2-way price ("Yes" in step S2). In this case, the expected execution order processing unit 42 and the execution information processing unit 44 extract the corresponding buy and sell customer order information 451 and 452 as buy and sell customer order information 4511 and 4521 that are expected to be executed.

[0065] For example, suppose that at a specific point in time, a market price of 99.00 yen to 100.00 yen per dollar (bid-ask) is extracted as a 2-way price, and customer order information 451 for a buy (Ask) at 100.00 yen per dollar and customer order information 452 for a sell (Bid) at 99.00 yen per dollar are recorded in the customer order information recording unit 45. The expected execution order processing unit 42 and the execution information processing unit 44 extract these customer order information 451 for a buy at 100.00 yen per dollar and customer order information 452 for a sell at 99.00 yen per dollar as expected buy and sell customer order information 4511 and 4521, respectively.

[0066] The order execution processing unit 42 generates summary information 511 from the extracted buy and sell customer order information 4511 and 4521 that are expected to be executed (step S3).

[0067] Specifically, the expected execution order processing unit 42 extracts order quantity information (1,000 units, 2,000 units, and 7,000 units for a "buy" at 1 dollar = 100.00 yen, as shown in Figure 2) from the expected buy customer order information 4511. The expected execution order processing unit 42 also extracts order quantity information (10,000 units and 10,000 units for a "sell" at 1 dollar = 90.00 yen, as shown in Figure 2) from the expected sell customer order information 4521. Based on this information, the expected execution order processing unit 42 generates summary information 511.

[0068] The order management device 40's order execution processing unit 42 transmits the generated summary information 511 to the dealing device 50. Specifically, the order execution processing unit 42 transmits the summary information 511 to the dealing device 50 via inter-device communication between the order management device 40 and the dealing device 50.

[0069] The summary information management unit 51 of the dealing device 50 records the acquired summary information 511 in a storage means (not shown) and performs a process to offset the buy customer order information 4511 and the sell customer order information 4521 that are expected to be executed, which meet the criteria for execution in one go. Specifically, the summary information management unit 51 generates offsetting information 512 included in the summary information 511 (step S4).

[0070] In the example shown in Figure 2, the summary information management unit 51 offsets the buy order quantity of 10,000 units of currency with the sell order quantity of 20,000 units to calculate the sell order quantity of 10,000 units as offsetting information 512 (step S4). The cover transaction unit 52 of the dealing device 50 sends this offsetting information 512 to the bank system 3 as cover transaction information. The transaction execution unit 31 of the bank system 3 performs a cover transaction based on this offsetting information 512 (step S5).

[0071] After "Yes" in step S2, the execution information processing unit 44 of the order management device 40 uses the expected buy and sell customer order information 4511 and 4521 to execute the corresponding buy and sell orders (step S6). Specifically, the execution information processing unit 44 executes the orders based on the expected buy and sell customer order information 4511 and 4521, and displays on the display unit 22 of the client terminal 2 of the customer who placed the order that the order has been executed. Note that the processing by the execution information processing unit 44 in step S6 is performed as a separate process from the cover transaction processed in steps S3-S5.

[0072] In step S2, if the relevant buy and sell customer order information 451 and 452 exists ("No" in step S2), the generation of summary information 511 by the expected execution order processing unit 42 and the cover transaction by offsetting information 512 (steps S3-S5) will not be performed. In this case ("No" in step S2), only the execution of the buy and sell customer order information will be performed by the execution information processing unit 44 (step S6). One example of a case that corresponds to "No" in step S2 is when the customer order information recording unit 45 does not record the buy and sell customer order information 4511 and 4521 that are expected to be executed. Another example is when orders are placed and executed based only on order information for market buy orders or only on order information for market sell orders.

[0073] [Examples of transaction types to which the embodiment applies (1: Overview)] The financial instrument trading management system 1A and financial instrument trading management device 1 of this embodiment are thought to be applicable to transactions in which customer buy order information 451 and customer sell order information 452 are recorded in the customer order information recording unit 45. For example, this embodiment can be applied when performing limit orders, stop-limit orders, or trigger market orders in the financial instrument trading management device 1.

[0074] When using the financial instrument trading management device 1 to place limit orders, stop-loss orders, or trigger market orders, customer buy and sell order information 451 and 452 can be generated and recorded before the order is placed or executed. Furthermore, by generating summary information 511 and offsetting information 512 from the recorded customer buy and sell order information 451 and 452 and performing cover transactions, the time required for cover transactions for executed orders can be shortened, thereby reducing risk.

[0075] [Examples of transaction types to which the embodiment applies (2: Specific examples)] As outlined in (1) above, when limit orders and trigger market orders are executed in the financial instrument trading management device 1, for example, the transactions shown in [Specific Example 1]-[Specific Example 3] below can be considered. [Specific Example 1]-[Specific Example 3] may consist entirely of limit orders, entirely of trigger market orders, or a mixture of limit orders and trigger market orders. Furthermore, if multiple customer order information is generated for executing a transaction, all customer order information may be generated before all transactions are initiated, or at least some of the customer order information may be generated at a predetermined or arbitrary timing after the start of trading.

[0076] [Specific example 1: Trap trading] This is a trading method in which orders are placed and executed by placing multiple buy orders or multiple sell orders at multiple order prices simultaneously for multiple financial instruments of the same type. While it is conceivable that the multiple buy orders or multiple sell orders placed simultaneously would each have the same order amount and the same price range between them, at least some of the order amounts or at least some of the price ranges between orders may differ from the others. At least some of these buy orders or sell orders may be configured to form a first order and a second order (an if-then order; hereinafter simply referred to as an "if-then order") which is placed upon the execution of the first order, thereby executing a single if-then order.

[0077] [Specific example 2: Trap Repeat If Done] This is a trading method that involves setting up multiple combinations of if-then orders (IF-DONE orders) for multiple financial instruments of the same type, consisting of a first order and a second order. Here, when a first order and its corresponding second order are executed, an IF-DONE order is repeatedly executed, consisting of a new first order corresponding to the executed first order and a new second order corresponding to the executed second order. The price ranges between the set first orders and between the set second orders are generally constant, and the profit margins for each set first order and its corresponding second order are also generally constant. However, at least some of the price ranges or at least some of the price ranges may be set to differ from other price ranges or profit margins.

[0078] [Specific example 3: Rakutora] This is a trading method in which first and second orders for trading as a "trap repeat if-then" are set between predetermined upper and lower price limits. When setting multiple first and second orders between upper and lower price limits, the highest-priced first or second order may be set to match the upper price, or the lowest-priced first or second order may be set to match the lower price. Alternatively, the lowest-priced first or second order may be set to match the lower price, or conversely, the highest-priced second or first order may be set to match the upper price. Furthermore, the price midway between the upper and lower price limits may be set to match the average order price of all first orders, the average order price of all second orders, or the average order price of all first and all second orders.

[0079] Note that the above examples [Specific Example 1]-[Specific Example 3] are examples of the application of this embodiment, and the financial instrument trading management device 1 of this embodiment can be applied to any transaction type other than those described in [Specific Example 1]-[Specific Example 3].

[0080] Furthermore, while the above examples [Specific Example 1]-[Specific Example 3] describe the case where the first order of an IFD order is a buy order and the second order is a sell order, the method is not limited to this case and can also be applied when the first order of an IFD order is a sell order and the second order is a buy order.

[0081] [Effects and Effects] In this embodiment, for orders executed based on buy and sell customer order information 451 and 452, summary information 511 and offsetting information 512, which represent "information on the amount of the executed order" that arises when the order is executed, are output before the order is executed. Then, the summary information 511 and offsetting information 512 necessary for the cover transaction that is performed in response to the execution are formed as smaller data than the buy and sell customer order information 451 and 452 data necessary for the execution process itself, thereby enabling the cover transaction. As a result, in trading financial products using a computer system, regardless of the amount of trading, delays in the timing of cover transactions when executing financial products can be suppressed, thereby enabling low-risk transactions.

[0082] In this embodiment, the "information on the amount of the contract" is the order quantity information included in the summary information 511 and the offsetting information 512, so that cover transactions can be performed using only the numerical information with a small amount of data from the information on the executed orders. This makes it possible to provide a financial instrument trading management device with high reliability that enables the trading of financial instruments with low risk regardless of the amount of trading in financial instruments conducted using a computer system.

[0083] In this embodiment, by obtaining "transaction volume information" included in summary information 511 and offsetting information 512 based on the acquired market price of the financial instrument, it is possible to perform cover transactions based on the transaction volume information of the financial instrument corresponding to any market price. Therefore, cover transactions can be performed with small amounts of data for financial instruments that have been executed at market prices within a specific time period. This makes it possible to perform cover transactions for financial instruments corresponding to market prices with low risk, regardless of the amount of trading.

[0084] In this embodiment, by performing calculations to extract "information on the amount of the transaction" contained in the summary information 511 and offsetting information 512 at a time prior to the execution of the order, it becomes possible to conduct cover transactions before the process of executing the financial instrument is completed. This enables rapid cover transactions and the trading of low-risk financial instruments.

[0085] In this embodiment, the customer order information recording unit 45 performs calculations to extract "information on the amount of traded" from the summary information 511 and offsetting information 512 for the buy and sell customer order information 4511 and 4521 that meet predetermined conditions and are expected to be executed, from the buy and sell customer order information 451 and 452 recorded in the customer order information recording unit 45. As a result of this calculation, it becomes possible to perform cover transactions with small data for each customer's order. This makes it possible to realize low-risk transactions for each customer's financial product transactions, regardless of the amount of traded.

[0086] In this embodiment, the customer order information recording unit 45 extracts the order quantities included in offsetting information 512 by offsetting the buy and sell order quantities included in summary information 511 based on buy and sell customer order information 4511 and 4521 that meet predetermined conditions and are expected to be executed, from among the buy and sell customer order information 451 and 452 recorded in the customer order information recording unit 45. This offsets the quantities of buy orders and sell orders that have been recorded in advance, reducing the number of orders that perform cover transactions and enabling reliable trading of low-risk financial products with a small amount of data.

[0087] In this embodiment, the order quantity of a buy customer order information 4511 that is expected to be executed and the order quantity of a sell customer order information 4521 that is expected to be executed are offset against each other to extract the order quantity information of offsetting information 512, which corresponds to a predetermined market price that is within the price range that satisfies the criteria for execution in one go. Then, the information of the execution amount necessary for cover transactions that exists in a specific price range can be extracted as a small amount of data after offsetting. This reduces the number of orders that perform cover transactions and enables reliable trading of low-risk financial products with a small amount of data.

[0088] [others] In the above embodiment, a so-called OCO order may be used. Alternatively, when the market resumes after a temporary interruption, a so-called "order book matching method" may be used, meaning that if a second order (or first order) of an IFD order exists in the price range from the time of the market interruption to the time of the market resumption, the first order (or second order corresponding to that first order) is used to execute the buy / sell customer order information 451,452. This "order book matching method" is applied when a second order (or first order) of an IFD order exists in the price range from the time of the market interruption to the time of the market resumption. In this case, the first order (or second order corresponding to that first order) is changed from the order price at the time of the market interruption to the order price at the time of the market resumption, and the transaction is executed.

[0089] In the above embodiment, foreign exchange was used as the financial instrument, but the present invention is not limited to this, and may be applied to any financial instrument trading system that handles any financial instrument, such as stocks, bonds, investment trusts, real estate investment trusts, commodities, crypto assets, virtual currencies, etc.

[0090] In the above embodiment, the financial instrument trading management system 1A was described as having a configuration comprising one financial instrument trading management device 1. However, it is not limited to this configuration, and may be composed of multiple financial instrument trading management devices, with at least some of these devices being located at a so-called exchange.

[0091] In the above embodiment, the "information on the contracted amount" and the "information on the order quantity" are the order quantity information and offsetting information 512 included in the summary information 511, but are not limited to this. For example, the "information on the contracted amount" may be the quantity or unit of measurement of the financial instrument subject to the contract, other than the order quantity information.

[0092] In the above embodiment, the financial instrument trading management device 1 performed the processing for cover transactions ("Yes" in step S2 - step S6) and the processing for executing customer orders as separate processes, but is not limited to this. That is, the financial instrument trading management device 1 may perform the processing for cover transactions and the processing for executing customer orders as the same process.

[0093] In the above embodiment, all functional means are provided in the financial instrument trading management device 1, but at least some of these may be provided in the client terminal 2.

[0094] In the above embodiment, the financial instrument trading management system 1A was implemented in a client-server system of a network computer system. However, the same functions as the financial instrument trading management system 1A can also be implemented in various computers such as personal computers that do not constitute a client-server system, or in various communication terminals and mobile information terminals such as mobile terminals and tablets. In this case, it is also possible to implement the system by configuring at least a part of the system configuration of the financial instrument trading management device 1 and the financial instrument trading management system 1A as a computer program and implementing the program in various computers and various communication terminals and mobile information terminals.

[0095] It goes without saying that the above embodiments are illustrative examples of the present invention and do not mean that the present invention is limited to the above embodiments. [Explanation of symbols]

[0096] 1A...Financial Instruments Trading Management System 1. Financial Instruments Trading Management System 41. Customer Order Information Generation Unit (Customer Order Information Generation Means) 42. Expected Order Processing Unit (Expected Order Processing Means) 43. Market price information acquisition unit (means for acquiring market price information) 44. Transaction information processing unit (transaction information processing means) 45. Customer Order Information Recording Unit (Customer Order Information Recording Means) 451... Buy customer order information (Customer order information for buy orders) 452... Selling customer order information (Customer order information for sell orders) 4511... Buy customer order information that is expected to be executed (Buy order customer order information) 4521... Sell customer order information expected to be executed (sell order customer order information) 511...Summary Information (Information on contracted amount, information on order quantity) 512... Offset information (information on contracted amount, information on order quantity)

Claims

1. A financial instruments trading management device that allows multiple customers who trade financial instruments to trade the said financial instruments with a financial instruments business operator that manages the said financial instruments trades of the multiple customers, The system includes a prospective order processing means that performs a predetermined calculation on the prospective order information of unexecuted buy orders and the prospective order information of unexecuted sell orders, among the customer order information generated to place an order for the financial product based on the customer's instructions, for orders that are not yet executed but are expected to be executed under predetermined conditions, and outputs prospective execution linkage information which is the result of the predetermined calculation and is the subject of processing separate from the prospective execution order information. The order processing means for the expected execution order, which is executed based on the customer order information, and which is an unexecuted order but is expected to be executed, Based on the aforementioned order information subject to execution, the process is performed to execute the aforementioned unexecuted orders that are likely to be executed, The process involves generating the aforementioned expected execution information as information on the amount of execution, which is information on all or part of the amount of execution that will occur when the aforementioned orders that are expected to be executed are executed. The aforementioned order processing means generates information on the expected execution amount before the execution of the order that is expected to be executed, and enables the use of the generated information on the expected execution amount to be transmitted to the financial institution's equipment. A financial instruments trading management device characterized by the following features.

2. The financial instrument trading management device according to claim 1, characterized in that the information regarding the contracted quantity is information regarding the quantity of a predetermined order.

3. The system includes means for obtaining market price information to obtain market price information for the aforementioned financial instruments, The financial instrument trading management device according to claim 1, characterized in that the order processing means for expected executions performs calculations to extract information on the amount to be executed using the market price of the financial instrument acquired by the market price information acquisition means as a predetermined condition.

4. The system includes execution information processing means that performs the process of executing the order based on the customer order information, The financial instrument trading management device according to claim 1, characterized in that the order processing means for expected execution performs calculations to extract information on the amount of execution at a time prior to the execution of the order by the execution information processing means.

5. The system includes customer order information recording means for recording the aforementioned customer order information, The financial instrument transaction management device according to claim 1, characterized in that the expected execution order processing means performs calculations to extract information on the execution amount from the customer order information recorded in the customer order information recording means that meet the predetermined conditions.

6. The customer order information recording means records the customer order information for buy orders and the customer order information for sell orders. The aforementioned order processing means for expected execution is: The financial instrument transaction management device according to claim 5, characterized in that it performs a calculation to extract information on the contracted amount by offsetting the customer order information of the buy orders recorded in the customer order information recording means and / or the customer order information of the sell orders recorded in the customer order information recording means with the customer order information of the buy orders that meet predetermined conditions and / or the customer order information of the sell orders that meet predetermined conditions.

7. The financial instrument trading management device according to claim 6, characterized in that the order processing means for expected executions performs calculations to extract information on the amount of execution by offsetting the customer order information of buy orders and the customer order information of sell orders that are in a price range that satisfies the criteria for execution in one go, as recorded in the customer order information recording means.

8. A program characterized by causing a computer to function as a financial instrument transaction management device according to any one of claims 1 to 7.

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