Server and method for replicating and operating the investment targets of financial consumers

Abstract

This invention provides a system and method that allows financial consumers to define their investment goals in advance as a clear profit and loss structure, replicate and manage that structure using underlying assets and cash assets based on financial engineering theory, and deliver results that approximate their investment goals. [Solution] The main server includes at least one processor and at least one memory that stores instructions and is operably electrically connected to the at least one processor. Based on the execution of instructions by the at least one processor, the operations performed include: step S110 receiving information about preferred investment securities from a financial consumer's terminal; step S120 receiving information about investment targets defined as profit and loss structures linked to investment securities at investment maturity from a financial consumer's terminal; and step S130 performing replicate operations based on the profit and loss structure.

Description

Technical Field

[0001] The disclosure of the present specification relates to a technology for setting investment goals of financial consumers and replicating and managing investment goals using financial engineering theory.

Background Art

[0002] Investment is an important means of asset appreciation in modern society.

[0003] Financial consumers set investment goals in consideration of investment target assets, investment periods, rates of return, risk levels, etc., and select investment methods to achieve these goals.

[0004] Investment methods include direct investment and indirect investment, and indirect investment can be broadly divided into funds and structured products.

[0005] Direct investment requires specialized knowledge and a great deal of time, which places a burden on individuals, and it is known that the performance of individual investors is lower than that of institutional investors or market indices.

[0006] Among indirect investments, a fund is a financial product that pools funds from a large number of investors and is managed by a professional fund manager, and its performance depends on the management capability of the manager.

[0007] Structured products (derivative-linked securities, derivative-linked corporate bonds, equity-linked securities, etc.) are investment products whose profits and losses are determined according to price fluctuations of underlying assets (investment issues), and a profit and loss structure linked to the underlying asset price is presented in advance, and the investment performance is determined accordingly.

[0008] Equity Linked Securities (ELS), which are representative structured products, have their profits and losses determined by the performance of stock indices or specific stocks, and are highly popular among financial consumers, with 11,845 issues issued at a scale of 29 trillion won in 2023.

[0009] Because funds are managed at the discretion of the manager, it is difficult to present a clear investment strategy and profit / loss structure in advance, making it difficult for financial consumers to choose a fund that suits their investment goals.

[0010] On the other hand, structured products offer a predetermined profit and loss structure, making it possible to predict profits and losses due to price fluctuations of the underlying asset. They have the advantage of being highly transparent, allowing financial consumers to easily select products that match their investment goals.

[0011] Despite these advantages, structured products are difficult to customize for individual investors, and it is not easy for financial consumers to invest in the structured product they want, when they want.

[0012] Consequently, there is a growing need for services that allow financial consumers to receive investment proposals tailored to their investment goals at any time. [Overview of the Initiative] [Problems that the invention aims to solve]

[0013] The purpose of disclosure in this specification is to provide a system and method that enables financial consumers to define their investment objectives in advance as a clear profit and loss structure, replicate and operate said profit and loss structure using underlying assets and cash assets based on financial engineering theory, and deliver results that approximate their investment objectives.

[0014] Specifically, the purpose of the disclosures in this specification is to solve the following problems:

[0015] 1. To help financial consumers define their investment goals as a quantitative profit and loss structure linked to the underlying asset (investment security).

[0016] 2. By replicating and managing the defined profit and loss structure using underlying assets and cash assets, the system delivers results that approximate the investment objectives.

[0017] 3. This allows financial consumers to choose an investment plan that suits their investment goals at any time. [Means for solving the problem]

[0018] To achieve the aforementioned objectives, one disclosure herein provides a server for setting and replicating investment targets for financial consumers. The server may include at least one processor and at least one memory for storing instructions and operably electrically connected to the at least one processor. Based on the execution of the instructions by the at least one processor, the operations performed may include receiving information about preferred investment securities from the financial consumer's terminal, receiving information about investment targets defined from the financial consumer's terminal as profit and loss structures linked to the investment securities at investment maturity, and performing replica operations based on the profit and loss structures.

[0019] To achieve the aforementioned objectives, a disclosure herein presents a method for setting and replicating investment targets for a financial consumer. The method may include the steps of: receiving information on preferred investment securities from the financial consumer's terminal; receiving information on investment targets defined as profit and loss structures linked to the investment securities at investment maturity from the financial consumer's terminal; and performing replicating operations based on the profit and loss structures.

[0020] The step of receiving information regarding the investment target may include the steps of presenting one or more profit and loss structures to the financial consumer's terminal and receiving from the financial consumer's terminal information regarding the profit and loss structure most preferred among the one or more presented.

[0021] The step of executing the replication operation may include the steps of calculating the investment ratio of the assets necessary for the replication operation, which include the investment security and cash assets, based on an option pricing model, and executing transactions in response to changes in the investment ratio.

[0022] The step of executing the duplicate management may include a step of receiving conclusion of an investment advisory contract related to the duplicate management from the terminal of the financial consumer, a step of calculating advisory content necessary for the duplicate management, and a step of providing the advisory content to the terminal of the financial consumer.

[0023] The step of executing the duplicate management may include a step of receiving conclusion of a discretionary investment contract related to the duplicate management from the terminal of the financial consumer, a step of calculating transaction content necessary for the duplicate management, and a step of directly executing transactions necessary for the duplicate management in the account of the financial consumer.

[0024] The operation or method may further include a step of calculating a risk indicator including a loss probability of the investment target and an average loss rate at the time of loss, a return indicator including an expected rate of return, and an indicator related to an expected target achievement time point, and a step of providing the risk indicator, the return indicator, or the indicator related to the expected target achievement time point to the terminal of the financial consumer, in order to support investment decision-making tailored to the financial consumer.

[0025] The operation or method may further include a step of analyzing the past investment history of the financial consumer, a step of analyzing investment targets preferred by financial consumers similar to the financial consumer, and a step of providing the analysis result to the terminal of the financial consumer, in order to support customized investment decision-making for the financial consumer. [Effects of the Invention]

[0026] One disclosure of the present specification supports financial consumers to define their own investment targets as a quantitative profit and loss structure linked to underlying assets (investment issues).

[0027] Further, one disclosure of the present specification provides results approximate to the investment target by performing duplicate management on the defined profit and loss structure using underlying assets and cash-equivalent assets.

[0028] Therefore, according to a disclosure in this specification, financial consumers can at any time choose an investment plan that suits their investment goals. [Brief explanation of the drawing]

[0029] [Figure 1] This is an illustrative diagram showing an architecture for implementing the method disclosed herein. [Figure 2] Figure 1 shows the structure of the main server. [Figure 3] This is a flowchart showing the operation of the main server as disclosed in this specification. [Figure 4a] An example of a profit and loss structure based on investment tendencies is shown. [Figure 4b] An example of a profit and loss structure based on investment tendencies is shown. [Figure 4c] An example of a profit and loss structure based on investment tendencies is shown. [Figure 4d] An example of a profit and loss structure based on investment tendencies is shown. [Figure 4e] An example of a profit and loss structure based on investment tendencies is shown. [Modes for carrying out the invention]

[0030] The specific structural or stepwise descriptions of the examples in this disclosure are merely for illustrative purposes to illustrate the concepts of this disclosure. Therefore, the concepts of this disclosure may be implemented in various forms. This disclosure should not be construed as being limited to the examples provided herein.

[0031] The conceptual examples in this disclosure can be modified in various ways and may take on various forms. In contrast, specific examples are illustrated in the drawings and described in detail in this disclosure or application. However, this is not intended to limit the conceptual examples in this disclosure to any particular form of disclosure. Embodiments of the conceptual ideas in this disclosure should be understood to encompass all modifications, equivalents, or substitutions that fall within the spirit and technical scope of this disclosure.

[0032] Terms such as "first" and "second" may be used to describe various components, but such components should not be limited by such terms. The terms may be used solely for the purpose of distinguishing one component from another. Without departing from the scope of rights under the concepts of this disclosure, the first component may be named the second component, and similarly, the second component may also be named the first component.

[0033] When one component is described as being "connected" or "linked" to another component, it may be directly connected or linked to the other component. However, it should be understood that other components may exist in between the multiple components. Conversely, when one component is described as being "directly connected" or "linked" to another component, it should be understood that there are no other components in between. Other expressions describing relationships between components, such as "between" and "exactly between," or "adjacent to" and "directly adjacent to," should be interpreted similarly.

[0034] In this specification, “Unit” includes units implemented by hardware, units implemented by software, and units implemented using both. Furthermore, one unit may be implemented using two or more hardware components, and two or more units may be implemented by one hardware component. On the other hand, “~Unit” is not limited to software or hardware; “~Unit” may be configured to reside in an addressable storage medium, or to regenerate one or more processors. Therefore, as an example, “~Unit” includes components such as software components, object-oriented software components, class components, and task components, as well as processes, functions, attributes, procedures, subroutines, segments of program code, drivers, firmware, microcode, circuits, data, databases, data structures, tables, arrays, and variables. The components and the functions provided within “~Unit” may be combined into fewer components and “~Unit” or further separated into additional components and “~Unit”. Moreover, components and “~Unit” may be implemented to run one or more CPUs within a device or security multimedia card.

[0035] The terms used in this disclosure are used solely to illustrate specific examples and are not intended to limit the disclosure. Singular expressions include plural expressions unless the context clearly indicates otherwise. In this disclosure, terms such as “contains” or “has” are intended to specify the existence of the described features, figures, stages, actions, components, parts, or combinations thereof. Therefore, they should not be understood as preemptively excluding the existence or possibility of adding one or more other features, figures, stages, actions, components, parts, or combinations thereof.

[0036] Unless otherwise defined, all terms used herein, including technical or scientific terms, have the same meaning as those generally understood by a person of ordinary skill in the art to which this disclosure pertains. Terms as defined in commonly used dictionaries should be interpreted as having the meaning consistent with their meaning in the context of the relevant technology. Terms as defined in commonly used dictionaries should not be interpreted in an ideal or overly formal sense unless expressly defined herein.

[0037] In explaining the examples, we will omit explanations of technical content that is well known in the technical field to which this disclosure belongs and is not directly related to this disclosure. This is to avoid ambiguity and to communicate the gist of this disclosure more clearly by omitting unnecessary explanations.

[0038] The present disclosure will be described in detail below by illustrating preferred examples of the present disclosure with reference to the attached drawings. The examples of the present disclosure will be described in detail below with reference to the attached drawings.

[0039] The "user terminal" referred to below may be a computer or mobile terminal capable of connecting to a server or other terminal via a network. Here, a computer may include, for example, a notebook, desktop, or laptop equipped with a web browser. A mobile terminal may be, for example, a wireless communication device that ensures portability and mobility, and may include various devices equipped with a communication module, such as a smartphone, tablet PC, or wearable device.

[0040] On the other hand, in embodiments of the present disclosure, each combination of block in the attached block diagram and each stage in the flowchart can be executed by computer program instructions. These computer program instructions can be mounted on the processor of a general-purpose computer, a special-purpose computer, a portable notebook computer, a network computer, or other programmable data processing equipment, so that the instructions executed through the processor of the computer device or other programmable data processing equipment will generate means for performing the functions described in each block of the block diagram or each stage in the flowchart described below. These computer program instructions can also be stored in memory or computer-readable memory available to the computer device or other programmable data processing equipment, which can be directed to the computer device or other programmable data processing equipment, in order to embody the functions in a particular way, so that it is possible to produce a product that contains instruction means for performing the functions described in each block of the block diagram or each stage in the flowchart. Since computer program instructions can also be mounted on the computer device or other programmable data processing equipment, it is also possible to generate a process for performing a series of operational stages on the computer device or other programmable data processing equipment, and to provide stages for performing the functions described in each block of the block diagram and each stage in the flowchart.

[0041] Furthermore, each block or stage may represent a module, segment, or portion of code containing one or more executable instructions for performing a specified logical function. It should be noted that in some alternative embodiments, the functions mentioned in a block or stage may occur out of order. For example, two blocks or stages illustrated in succession may actually be executed substantially simultaneously, or they may be executed in reverse order depending on the function at hand.

[0042] Figure 1 is an illustrative diagram showing an architecture for implementing the method disclosed herein.

[0043] First, let's explain the architecture with reference to Figure 1.

[0044] According to Figure 1, the system may include a main server 100, a financial market information server 200, and a financial consumer terminal 300.

[0045] The main server 100 receives investment securities preferred by financial consumers from the financial consumer terminal 300. The main server 100 also receives investment targets from the financial consumer terminal 300. The investment targets are defined as a profit and loss structure linked to the investment securities at the time of investment maturity. The main server 100 then performs replication operations based on the profit and loss structure.

[0046] The aforementioned "replicate investment" refers to an investment strategy that aims to replicate the performance of a specific financial product (e.g., structured products, stock indices, derivative products, etc.) in the financial market. In other words, it means achieving the same investment results by combining multiple individual financial products or derivative products, rather than directly purchasing existing financial products.

[0047] In this way, the main server 100 can interact with the financial market information server 200, which provides underlying asset prices, interest rates, etc., in order to perform replication operations based on the profit and loss structure.

[0048] In order to execute the replicated operation based on the profit and loss structure, the main server 100 can calculate the investment ratio of the assets necessary for the replicated operation, including the investment securities and cash assets, based on an option pricing model. The main server 100 can then interact with the financial market information server 200 to execute transactions in response to changes in the investment ratio.

[0049] In order to execute the replication operation based on the aforementioned profit and loss structure, the main server 100 can receive the conclusion of an investment advisory contract regarding the replication operation from the financial consumer's terminal.

[0050] In order to perform the replication operation based on the aforementioned profit and loss structure, the main server 100 can calculate the advice necessary for the replication operation and then provide the advice to the financial consumer's terminal.

[0051] In order to execute the replication operation based on the aforementioned profit and loss structure, the main server 100 can receive the conclusion of an investment management agreement related to the replication operation from the financial consumer's terminal. The main server 100 can also calculate the transaction details necessary for the replication operation. Furthermore, the main server 100 can interact with the financial market information server 200 in order to directly execute the transactions necessary for the replication operation in the financial consumer's account.

[0052] The main server 100 will be described below with reference to Figure 2.

[0053] Figure 2 is a structural diagram of the main server shown in Figure 1.

[0054] According to Figure 2, the structure of the main server 100 in one embodiment may include memory 110, a processor 120, and a communication module 130. However, the structure of the main server 100 is not limited to this.

[0055] Memory 110 can store at least one of the following: information and data input to the communication module 130, information and data necessary for functions performed by the processor 120, and data generated in response to the execution of the processor 120. Memory 110 should be interpreted as a general term for non-volatile storage devices that continue to maintain stored information even when power is not supplied, and volatile storage devices that require power to maintain stored information. Memory 110 can also perform the function of temporarily or permanently storing data processed by the processor 120. In addition to volatile storage devices that require power to maintain stored information, memory 110 may include magnetic storage media or flash storage media, but the scope of the present invention is not limited thereto.

[0056] The memory 110 stores a software program that embodies the method described above, and receives information input by the financial consumer terminal 300 through the processor 120 and links it to the software program.

[0057] The processor 120 is configured to execute a program stored in the memory 110. The processor 120 may include various types of devices for controlling and processing data. The processor 120 may mean a hardware-integrated data processing device having physically structured circuitry to perform functions expressed by code or instructions contained within a program. In one example, the processor 120 may be embodied in the form of a microprocessor, a central processing unit (CPU), a processor core, a multiprocessor, an ASIC (application-specific integrated circuit), an FPGA (field programmable gate array), etc., but the scope of the present invention is not limited thereto.

[0058] The processor 120 is configured to perform the steps included in the method according to one disclosure.

[0059] The communication module 130 can perform information transmission and reception with an external database or external device. The external device may refer to the illustrated financial market information server 200. The communication module 130 may include a device that includes hardware and software necessary for transmitting and receiving signals, such as control signals or data signals, with other network devices via wired or wireless connections.

[0060] The communication module 130 can provide the results of the processor 120 executing a software program that embodies the method described above, which is stored in the memory 110, to an external database or external device.

[0061] The financial consumer terminal 300 may include, but is not limited to, smartphones, tablet PCs, notebooks (laptops), and desktops, all of which include user input means and displays.

[0062] The financial consumer terminal 300 can receive information regarding the listed premium index and investment results corresponding to the number of allocated shares from the main server 100 via a web browser or dedicated application, and then display it on its display.

[0063] The aforementioned financial market information server 200 can provide financial market information such as underlying asset prices and interest rates to the main server 100.

[0064] Figure 3 is a flowchart showing the operation of the main server as disclosed herein.

[0065] Referring to Figure 3, the main server 100 receives information from the financial consumer terminal 300 regarding investment securities preferred by the financial consumer (S110).

[0066] The main server 100 then receives information regarding investment targets from the financial consumer terminal 300 (S120). The investment targets are defined as a profit and loss structure linked to the investment security at the time of investment maturity.

[0067] Then, the main server 100 executes replication operations based on the profit and loss structure (S130).

[0068] In order to receive information regarding the aforementioned investment objectives, the main server 100 can present one or more profit and loss structures to the financial consumer's terminal 300. The main server 100 can then receive information from the financial consumer's terminal 300 regarding the profit and loss structure most preferred among the presented one or more.

[0069] To execute the replication operation, the main server 100 can calculate the investment ratio of the assets necessary for the replication operation, including the investment securities and cash assets, based on an option pricing model. The main server 100 can then execute transactions in response to changes in the investment ratio. To execute these transactions, the main server 100 can interact with the financial market information server 200.

[0070] In order to perform the replication operation, the main server 100 can receive an investment advisory contract regarding the replication operation from the financial consumer's terminal 300. Then, after calculating the advisory content necessary for the replication operation, the main server 100 can provide the advisory content to the financial consumer's terminal.

[0071] To execute the replication operation, the main server 100 can receive the conclusion of an investment management agreement related to the replication operation from the financial consumer's terminal. Then, after calculating the transaction details necessary for the replication operation, the main server 100 can directly execute the transactions necessary for the replication operation in the financial consumer's account. To execute the transactions, the main server 100 can interact with the financial market information server 200.

[0072] On the other hand, the main server 100 can calculate risk indicators including the probability of loss and the average loss rate in the event of a loss, profit indicators including the expected rate of return, and indicators related to the time when the expected target is achieved. Then, in order to support investment decision-making tailored to the financial consumer, the main server 100 can provide the risk indicators, profit indicators, or indicators related to the time when the expected target is achieved to the financial consumer's terminal.

[0073] On the other hand, the main server 100 can analyze the financial consumer's past investment history. The main server 100 can also analyze the investment goals preferred by financial consumers similar to the financial consumer. And, in order to support customized investment decision-making for the financial consumer, the main server 100 can provide the analysis results to the financial consumer's terminal.

[0074] The disclosures of this specification will be described in more detail below.

[0075] 1. Defining Investment Objectives

[0076] Financial consumers can choose their preferred investment instruments (e.g., specific stock indices, individual stocks, etc.) as the underlying asset.

[0077] Financial consumers can define a profit and loss structure linked to the underlying asset price at maturity, taking into account their target rate of return and risk indicators.

[0078] If a financial consumer first selects their desired target rate of return, the main server 100 can present a profit and loss structure with a corresponding risk level. Conversely, if a consumer first selects a profit and loss structure with a desired risk level, the main server 100 can present an expected rate of return with a corresponding risk level. Generally, the higher the risk level of the profit and loss structure, the higher the target rate of return.

[0079] Because financial consumers may have difficulty clearly understanding their investment goals or defining an appropriate profit and loss structure, the main server 100 can present various profit and loss structures to help them select the investment plan they prefer.

[0080] 2.Replication operation

[0081] The main server 100 can dynamically replicate the profit and loss structure using underlying assets and cash assets based on financial engineering theory, including an option pricing model.

[0082] The option pricing model calculates the ratio of the underlying asset to the cash assets that should be held, and since this ratio changes in accordance with changes in the underlying asset price and time, the underlying asset can be traded accordingly.

[0083] The replicated operations are executed in the financial consumer's account, and the orders and transaction details generated during the replicated operations process can be monitored in real time.

[0084] If financial consumers wish, they can utilize derivative products such as futures and options to perform more sophisticated replicated operations, thereby increasing the likelihood of generating investment results that more closely approximate a defined profit and loss structure.

[0085] 3. Provision of operational results

[0086] The main server 100 can compare and analyze a predefined profit and loss structure with the actual replication operation results and provide this information to financial consumers.

[0087] 4. Advantages

[0088] 4-1. Transparent Investment

[0089] Unlike funds, financial consumers define the profit and loss structure in advance, making the investment objectives transparent.

[0090] The investment process is transparent because it replicates operations in the accounts of financial consumers, allowing them to view all orders and transaction details in real time.

[0091] 4-2.Self-directed, goal-oriented investment

[0092] Financial consumers proactively set their own investment goals.

[0093] Instead of simply holding preferred investment stocks (buy and hold), goal-based investing becomes possible by setting clear investment objectives and replicating them.

[0094] 4-3. Predictability of results

[0095] Investment results can be predicted based on a predefined profit and loss structure.

[0096] By using historical data to simulate replicated operations, it can be used as a predictive indicator for future investment results.

[0097] 4-4. Safe Investments

[0098] Unlike funds and structured products, in a replica investment scheme, the investment funds are managed solely within the financial consumer's account.

[0099] Quantitative analysis is easier, and the likelihood of selecting investment options with improved risk-to-expected return increases.

[0100] 4-5. Useful Investments

[0101] Financial consumers can choose their desired investment goals from a variety of profit and loss structures offered by the system, even without knowledge of complex financial engineering.

[0102] You can set up and manage investment plans that match your own investment goals at any time.

[0103] The replication and operation process can be automated based on the financial consumer's choice.

[0104] 4-6.Personalization

[0105] Financial consumers can create customized profit and loss structures that align with their investment goals.

[0106] By analyzing past investment history or the investment goals preferred by similar financial consumers, we can provide more sophisticated and customized investment solutions.

[0107] Figures 4a to 4e show examples of profit and loss structures according to investment tendencies.

[0108] Referring to Figure 4a, financial consumers have a propensity for seeking stability, preferring stable stock indices, and the profit and loss structure is shown in the case where they do not want losses of more than -20%, even if the expected rate of return is low.

[0109] Referring to Figure 4b, the financial consumer's propensity is risk-neutral, and the profit and loss structure is shown when they prefer market-level rates of return even with risk.

[0110] Referring to Figure 4c, the profit and loss structure is shown for financial consumers who are aggressive investors, prefer growth stocks, and favor high expected rates of return even at the expense of high risk.

[0111] Referring to Figure 4d, the profit and loss structure is shown for financial consumers who are aggressive investors, prefer growth stocks, limit downside risk, and prefer unlimited rates of return.

[0112] Referring to Figure 4e, the profit and loss structure is shown when financial consumers have a risk-neutral propensity and prefer a strategy of selling when prices rise and buying when prices fall, expecting investment securities to revert to the mean.

[0113] While Figures 4a through 4d establish a clear maturity profit / loss structure, Figure 4e establishes a clear trading strategy (Trading Rule), and the maturity profit / loss structure may be determined accordingly.

[0114] <Replication and operation using an option pricing model>

[0115] The theoretical basis for the technology that replicates the profit and loss structure of structured products is based on option pricing models. The option pricing model and the structured product replication technology that utilizes it can be explained step by step as follows.

[0116] 1. Assumptions regarding the underlying asset (investment security)

[0117] The price of the underlying asset S can be assumed to follow a geometric Brownian motion (GBM) as follows:

[0118]

number

[0119] Here, S t σ is the underlying asset price, μ is the expected rate of return of the underlying asset (which does not directly affect option pricing), σ is the volatility of the underlying asset, and dw t This is a Wiener process, which is a stochastic movement that follows a normal distribution.

[0120] Assumptions about the underlying asset are at the heart of the option pricing model, and different assumptions can lead to modified option pricing models. Here, we will explain using the most basic and widely used geometric Brownian motion.

[0121] 2. Black-Scholes Partial Differential Equation

[0122] Black-Scholes assumed that the underlying asset followed geometric Brownian motion and derived the following partial differential equation.

[0123]

number

[0124] Here, V(S,t) is determined as the price of the structured product, along with the underlying asset price at time t, and at maturity (T), it is the underlying asset price at maturity (S T This represents a profit and loss structure corresponding to ). The process for deriving the above equation may be obvious to those skilled in the art, and therefore will not be explained in further detail.

[0125] 3. Pricing of structured products

[0126] The profit and loss structure at maturity for the simplest form of structured product, the European Call Option, is as follows:

[0127]

number

[0128] Here, K is the exercise price. That is, if the underlying asset price at maturity is equal to or greater than the exercise price, a return will be generated in proportion to the underlying asset price; otherwise, the return will be zero.

[0129] Using the above profit and loss structure at maturity as boundary conditions, the solution to the Black-Scholes partial differential equation can be derived to obtain the following current price V(S0,0) of the European call option.

number

[0130] Similar to European call options, more complex structured instruments can also have their present prices calculated by solving the above partial differential equation using the maturity return structure as a boundary condition. If the solution cannot be calculated using an analytical method like that used for European call options, the solution for complex structured instruments can be calculated using numerical methods such as the binomial tree model, finite difference method, or Monte Carlo simulation.

[0131] 4. Sensitivity Calculation

[0132] The sensitivity of a mechanism commodity's price to changes in the underlying asset price can be defined as delta, as shown in the following equation.

[0133]

number

[0134] 5.Dynamic Replication Strategy

[0135] A replica portfolio can be constructed by purchasing underlying assets according to the initial delta (Δ) ratio, and then purchasing cash assets with the remaining assets.

[0136] As market conditions such as the underlying asset price, volatility, and interest rates change, or as time passes, the delta ratio changes. The underlying asset can then be bought or sold in accordance with these changes, allowing for rebalancing of the replicated portfolio. This method of readjusting the replicated portfolio according to the delta ratio to replicate the maturity profit / loss structure of a structured product is called delta hedging.

[0137] By continuously repeating this process, the maturity profit and loss structure of the structured product can be dynamically replicated.

[0138] The process of recalculating the delta ratio and readjusting the portfolio can be done periodically, or in response to changes in market conditions such as underlying asset prices, volatility, and interest rates.

[0139] If the price of a structured product changes rapidly in accordance with the price of the underlying asset, and it is impossible to replicate this using delta hedging alone, then gamma hedging can be implemented. Gamma is the sensitivity of delta to the price of the underlying asset.

number

[0140] The above has described in more detail an example of this disclosure with reference to the attached drawings, but this disclosure is not necessarily limited to such examples and can be modified and implemented in various ways without departing from the technical concept of this disclosure. Therefore, the examples disclosed in this disclosure are for illustrative purposes only, not to limit the technical concept of this disclosure, and the scope of the technical concept of this disclosure is not limited by such examples. Accordingly, the examples described above should be understood to be illustrative and not limiting in all respects. The scope of protection of the present invention should be interpreted by the following claims, and all technical concepts within an equivalent scope should be interpreted as being included in the scope of the rights of the present invention.

Claims

1. A server that sets investment targets for financial consumers and replicates and operates them, At least one processor, It comprises at least one memory that stores instructions and is operably electrically connected to the at least one processor, Based on the fact that the instruction is executed by the at least one processor, the operation performed is: The steps include receiving information on preferred investment stocks from the financial consumer's terminal, The steps include receiving information from the financial consumer's terminal regarding an investment target defined as a profit and loss structure linked to the investment security at the time of investment maturity, The steps include: executing a replication operation based on the aforementioned profit and loss structure, A server, including

2. The step of receiving information regarding the aforementioned investment objectives is: The steps include presenting one or more profit and loss structures to the terminal of the aforementioned financial consumer, The steps include receiving information from the financial consumer's terminal regarding the profit and loss structure most preferred among the one or more profit and loss structures presented, The server according to claim 1, including the following:

3. The step of performing the aforementioned replication operation is: A step of calculating the investment ratio of assets necessary for the replication operation, including the investment security and cash assets, based on an option pricing model, The steps include: executing a transaction in response to the change in the aforementioned investment ratio, The server according to claim 1, including the following:

4. The step of performing the aforementioned replication operation is: The steps include receiving the conclusion of an investment advisory contract regarding the replication operation from the financial consumer's terminal, The steps include calculating the advice necessary for the aforementioned replication operation, The steps include providing the aforementioned advice to the financial consumer's terminal, The server according to claim 1, including the following:

5. The step of performing the aforementioned replication operation is: The steps include receiving the conclusion of an investment management agreement regarding the replication operation from the financial consumer's terminal, The steps include calculating the transaction details necessary for the aforementioned replication operation, The steps include directly executing the transactions necessary for the replication operation in the account of the financial consumer, The server according to claim 1, including the following:

6. The aforementioned operation is, The steps include calculating risk indicators including the probability of loss and the average loss rate in the event of a loss for the aforementioned investment target, profit indicators including the expected rate of return, and indicators related to the time when the expected target is achieved, In order to support investment decisions tailored to the financial consumer, the steps include providing the financial consumer's terminal with the risk indicator, return indicator, or indicator related to the time at which the expected target is achieved, The server according to claim 1, including the following:

7. The aforementioned operation is, The steps include analyzing the past investment history of the aforementioned financial consumer, The steps include analyzing the investment objectives preferred by financial consumers similar to the aforementioned financial consumer, To support the financial consumer in making customized investment decisions, the steps include providing the analysis results to the financial consumer's terminal, The server according to claim 1, including the following:

8. A method for performing replicate operations based on the investment objectives of financial consumers, The steps include receiving information on preferred investment stocks from the financial consumer's terminal, The steps include receiving information from the financial consumer's terminal regarding an investment target defined as a profit and loss structure linked to the investment security at the time of investment maturity, The steps include: executing a replication operation based on the aforementioned profit and loss structure, Methods that include...

9. The step of receiving information regarding the aforementioned investment objectives is: The steps include presenting one or more profit and loss structures to the terminal of the aforementioned financial consumer, The steps include receiving information from the financial consumer's terminal regarding the profit and loss structure most preferred among the one or more profit and loss structures presented, The method according to claim 8, including the method described in claim 8.

10. The step of performing the aforementioned replication operation is: A step of calculating the investment ratio of assets necessary for the replication operation, including the investment security and cash assets, based on an option pricing model, The steps include: executing a transaction in response to the change in the aforementioned investment ratio, The method according to claim 8, including the method described in claim 8.

11. The step of performing the aforementioned replication operation is: The steps include receiving the conclusion of an investment advisory contract regarding the replication operation from the financial consumer's terminal, The steps include calculating the advice necessary for the aforementioned replication operation, The steps include providing the aforementioned advice to the financial consumer's terminal, The method according to claim 8, including the method described in claim 8.

12. The step of performing the aforementioned replication operation is: The steps include receiving the conclusion of an investment management agreement regarding the replication operation from the financial consumer's terminal, The steps include calculating the transaction details necessary for the aforementioned replication operation, The steps include directly executing the transactions necessary for the replication operation in the account of the financial consumer, The method according to claim 8, including the method described in claim 8.

13. The steps include calculating risk indicators including the probability of loss and the average loss rate in the event of a loss for the aforementioned investment target, profit indicators including the expected rate of return, and indicators related to the time when the expected target is achieved, In order to support investment decisions tailored to the financial consumer, the steps include providing the financial consumer's terminal with the risk indicator, return indicator, or indicator related to the time at which the expected target is achieved, The method according to claim 8, further comprising:

14. The steps include analyzing the past investment history of the aforementioned financial consumer, The steps include analyzing the investment objectives preferred by financial consumers similar to the aforementioned financial consumer, To support the financial consumer in making customized investment decisions, the steps include providing the analysis results to the financial consumer's terminal, The method according to claim 8, further comprising:

Images