Processing device, processing program, and processing method

Abstract

Provided are a processing device, a processing program, and a processing method that enable more efficient ordering of financial products. 【Solution means】 For a financial product whose market price fluctuates, by receiving an operation input from a user, price range information that specifies a price range for permitting a buy order and order setting information for setting conditions for permitting the buy order are received from a terminal device usable by the user, a reference price is calculated based on the buy order price and the sell order price for the financial product at an arbitrary point in time, and when the reference price calculated at the arbitrary point in time is included in the range specified by the price range and satisfies the conditions set by the order setting information, a process for enabling a buy order for the financial product is executed.

Description

Technical Field

[0001] The present disclosure relates to a processing device, a processing program, and a processing method configured to place buy or sell orders for financial products whose market prices fluctuate.

Background Art

[0002] Conventionally, financial products are generally said to have transaction prices that fluctuate every moment, making it difficult to predict future prices and having complicated processes for their buying and selling. In such financial products, a system for more conveniently buying and selling them is known. For example, Patent Document 1 describes a system including an operation unit for inputting common order conditions, which are order conditions commonly used for each of a plurality of financial products when placing orders for them, a memory for storing the input common order conditions, a CPU that reads out and presents the common order conditions stored in the memory when executing an order for one financial product, and places an order for one financial product using the presented common order conditions.

Prior Art Documents

Patent Documents

[0003]

Patent Document 1

Summary of the Invention

Problems to be Solved by the Invention

[0004] Therefore, based on the above technologies, an object of the present disclosure is to provide a processing device, a processing program, and a processing method that enable more efficient ordering of financial products in various embodiments.

Means for Solving the Problems

[0005] According to one aspect of the present disclosure, there is provided "a processing device including at least one processor, wherein the at least one processor receives, from a terminal device usable by a user, price range information specifying a price range for permitting a buy order and order setting information for setting conditions for permitting the buy order for a financial product whose market price fluctuates, calculates a reference price based on a buy order price and a sell order price for the financial product at an arbitrary point in time, and executes processing for enabling a buy order for the financial product when the reference price calculated at the arbitrary point in time is included in the range specified by the price range and the conditions set by the order setting information are satisfied."

[0006] According to one aspect of the present disclosure, there is provided "a processing program for causing a computer to function as a processor for enabling a buy order for a financial product whose market price fluctuates, the processor receiving, from a terminal device usable by a user, price range information specifying a price range for permitting a buy order and order setting information for setting conditions for permitting the buy order, calculating a reference price based on a buy order price and a sell order price for the financial product at an arbitrary point in time, and enabling a buy order for the financial product when the reference price calculated at the arbitrary point in time is included in the range specified by the price range and the conditions set by the order setting information are satisfied."

[0007] According to one aspect of the present disclosure, there is provided "a processing method executed by at least one processor in a processing device including the at least one processor, the method including: receiving, from a terminal device usable by a user, price range information for specifying a price range for permitting a buy order and order setting information for setting conditions for permitting the buy order by receiving an operation input by the user for a financial product whose market price fluctuates; calculating a reference price based on a buy order price and a sell order price for the financial product at an arbitrary point in time; and enabling a buy order for the financial product when the reference price calculated at the arbitrary point in time is included in the range specified by the price range and the conditions set by the order setting information are satisfied."

Effect of the Invention

[0008] According to the present disclosure, it is possible to provide a processing device, a processing program, and a processing method that enable more efficient placement of orders for financial products.

[0009] Note that the above effects are merely exemplary for the sake of explanation and are not limiting. In addition to or instead of the above effects, any effects described in the present disclosure or effects obvious to those skilled in the art can also be achieved.

Brief Description of the Drawings

[0010]

FIG. 1A

FIG. 1B

FIG. 2

FIG. 3

FIG. 4A

FIG. 4B

FIG. 4C

FIG. 5

FIG. 6A

FIG. 6B

FIG. 7A

FIG. 7B

FIG. 7C

FIG. 7D

FIG. 7E

[0011] Various embodiments of the present disclosure will be described with reference to the accompanying drawings. In the drawings, common components are denoted by the same reference numerals.

[0012] 1. Overview of Processing System 1 The processing system 1 according to the present disclosure is a system mainly for more efficiently placing buy or sell orders for financial products. As an example, it includes a terminal device configured to receive an input of order setting information held by a user and used to place a buy or sell order for the financial product, and a management device configured to receive the order setting information input by the user at the terminal device and enable the placement of a buy or sell order for the financial product based on the order setting information.

[0013] FIG. 1A is a diagram conceptually showing a buy or sell order for a financial product made in the processing system 1 according to an embodiment of the present disclosure. Specifically, FIG. 1A is a diagram showing a so-called candlestick chart in which time is placed on the horizontal axis and the price at which a certain financial product is traded is placed on the vertical axis. According to FIG. 1A, individual blocks (so-called "candlesticks") composed of a thick line and a thin line are arranged every predetermined period (for example, 1 minute, 1 hour, 1 day, 1 week, 1 month, or 1 year, etc.). For example, referring to block 10, block 10 is composed of a thin line connecting the upper end 10a and the lower end 10d and a thick line connecting the upper end 10b and the lower end 10c. The upper end 10b of the thick line indicates the price (i.e., "opening price") at which a buy order and a sell order for the financial product were first executed during the period corresponding to block 10, the lower end 10c of the thick line indicates the price (i.e., "closing price") at which a buy order and a sell order for the financial product were last executed during the same period, the upper end 10a of the thin line indicates the highest price (i.e., "high price") among the prices at which a buy order and a sell order for the financial product were executed during the same period, and the lower end 10d of the thin line indicates the lowest price (i.e., "low price") among the prices at which a buy order and a sell order for the financial product were executed during the same period. That is, a buy and sell transaction of a financial product is established when a sell order is entered at the same price as a buy order at a certain price.

[0014] Here, for example, in the case of a financial product in which transactions using margin are conducted, the difference between the price at which a buy order is executed and the price at which a sell order is executed for the financial product purchased by the buy order, that is, the spread, becomes the profit in the buying and selling of the financial product. However, this spread may rapidly expand and result in significant losses when supply and demand become unstable due to market news, natural disasters, etc. Therefore, when making various judgments such as calculating margin, placing a buy order, or placing a sell order at the current market price in the buying and selling of financial products, one is highly exposed to the risk of the above-mentioned fluctuations. In the present disclosure, in various judgments exemplified above, a reference price such as a price called the mid-price is calculated, and processing is executed based on the reference price. Also, in the present disclosure, the market price is used instead of a reference price such as the mid-price for calculating the required margin and the margin maintenance rate.

[0015] FIG. 1B is a diagram conceptually showing a buy order for a financial product made in the processing system 1 according to an embodiment of the present disclosure. Specifically, FIG. 1B is a diagram showing an example of processing when a buy order is placed based on the mid-price calculated for a certain financial product in the processing system 1 according to the present disclosure. According to FIG. 1B, it is shown that for the financial product, as shown by the curve 51, the mid-price, which is one of the reference prices in the trading market, has changed over time.

[0016] Here, in the present disclosure, generally in the trading of financial products, the profit is obtained by the difference between the buy execution price when buying and the sell fixed price when selling. However, even if one is waiting for the price to rise aiming for a large profit, as described above, the market price of financial products fluctuates, so there are cases where the price turns from an upward trend to a downward trend and the expected profit cannot be obtained. Therefore, it is extremely important to appropriately manage the timing of buying and selling financial products, and there are various know-hows and techniques in this management. As one of them, there is a technique such as automated trading that automatically places buy orders and sell orders according to predetermined settings. In such automated trading, it is possible to place a plurality of orders in parallel at predetermined intervals.

[0017] In FIG. 1B, an example is described in which a buy order for a financial product is placed by the processing system 1. According to FIG. 1B, for a financial product, an upper limit value Z1 and a lower limit value Z2 are respectively shown for indicating the price range of the mid price calculated from the market price at which a buy order is placed. That is, by acquiring the upper limit value Z1 and the lower limit value Z2 in advance as order setting information, when the mid price calculated from the market price of the financial product falls within the range defined by the upper limit value Z1 and the lower limit value Z2, a buy order is enabled.

[0018] Also, according to FIG. 1B, for a financial product, a price interval S1 for placing a buy order within the range determined as described above is shown. That is, the interval S1 is acquired in advance as order setting information. Then, when the mid price of the financial product reaches the price defined by the interval S1 from the upper limit value or the lower limit value, the first buy order is placed. In the example of FIG. 1B, it is shown that a buy order 61-1 was placed when the mid price dropped by the interval S1 from the upper limit value Z1.

[0019] Next, for the second buy order 62-1, the buy order price for determining the timing of the order placement is calculated based on the buy execution price at which the previous buy order 61-1 was executed.

[0020] Here, in normal trading, when a buy order is placed, due to various factors such as communication delay and processing speed in the processing system 1, it is executed after an arbitrary delay time from the timing of the order placement. Therefore, since the market price fluctuates between the order placement and the execution, it is almost impossible for the buy order price and the buy execution price to match. That is, as shown in FIG. 1B, there is a difference X1 between the buy order price B1 and the buy execution price C1 of the first buy order 61-1.

[0021] In the case of the above-described automated trading, when the interval S1 is acquired in advance as order setting information, all the buy order prices are automatically determined at intervals of S1. Therefore, in a volatile market or the like, buy orders are executed all at once in a short period, and thus are greatly affected by the above-mentioned fluctuations.

[0022] Therefore, as described above, the processing system 1 sets the buy order price of the second buy order 62-1 based on the buy execution price of the previous (i.e., the first) buy order 61-1 and the interval S1. Specifically, the processing system 1 sets the price that is open by the interval S1 from the buy execution price of the first buy order 61-1 as the buy order price B2 of the second buy order 62-1. Then, when the mid-price of the financial product reaches the set buy order price B2, the processing system 1 places the buy order 62-1.

[0023] When the buy order 62-1 placed at the buy order price B2 is executed at the buy execution price C2 where the difference from the buy order price B2 is the difference X2, the processing system 1 sets the buy order price B3 of the next buy order 63-1 based on the buy execution price C2 and the interval S1. Then, when the mid-price of the financial product reaches the set buy order price B3, the processing system 1 places the buy order 63-1.

[0024] When the buy order 63-1 placed at the buy order price B3 is executed at the buy execution price C3 where the difference from the buy order price B3 is the difference X3, the processing system 1 sets the buy order price B4 of the next buy order 64-1 based on the buy execution price C3 and the interval S1. Then, when the mid-price of the financial product reaches the set buy order price B4, the processing system 1 places the buy order 64-1.

[0025] When the buy order 64-1 placed at the buy order price B4 is executed at the buy execution price C4 where the difference from the buy order price B4 is the difference X4, the processing system 1 sets the buy order price B5 of the next buy order 65-1 based on the buy execution price C4 and the interval S1. Then, when the mid-price of the financial product reaches the set buy order price B5, the processing system 1 places the buy order 65-1.

[0026] In this way, the processing system 1 determines whether to execute each buy order based on the mid-price and the buy order price set for each buy order. Also, the processing system 1 calculates the buy order price used in the above determination based on the buy execution price in the previous buy order. Therefore, it can flexibly respond to rapid fluctuations in the market price and reduce the impact received from such fluctuations.

[0027] In addition, the processing system 1 according to the present disclosure can also handle transactions using margin in financial product transactions. In such financial product transactions using margin, for example, when the buy order 61-1 of a financial product is executed, the difference between the buy execution price C1 and the price when the sell order for the financial product is settled is returned to the user as profit and loss. Therefore, even if a loss occurs in the transaction of the financial product, it is necessary to deposit a certain amount of money as margin to enable settlement. Conversely, if the loss exceeds the amount deposited as margin, the loss cannot be covered by the margin, which will cause a serious obstacle in the financial product transaction.

[0028] In the processing system 1, order evaluation information for evaluating evaluation items related to the account where margin is deposited in a buy order using margin is obtained, and the placement of the above order is enabled only when predetermined conditions are met. As such order evaluation information, for example, the numerical value of the margin maintenance rate and the numerical value of the margin balance are used.

[0029] Note that financial products are generally bought and sold through buy orders and sell orders. In this disclosure, the case of placing a buy order for a financial product and then placing a sell order will be used as an example for explanation, but the buy order and the sell order may be reversed, or multiple trades may be conducted.

[0030] Also, in this disclosure, although it simply mentions financial products, such financial products include all kinds of products. That is, although financial products are generally said to be evaluated by three characteristics: safety, profitability, and liquidity, any product that can be evaluated by such characteristics can be suitably applied in the processing system 1 according to this disclosure, and financial products used in margin trading can be more suitably applied. Examples of such financial products include securities such as stocks, corporate bonds, and short-term corporate bonds, foreign exchange, futures trading, cryptographic assets such as virtual currency, etc., and financial products that can be traded in a variable market, and are not particularly limited to those regulated by specific laws.

[0031] In addition, in this disclosure, the processing device includes either a terminal device configured to receive an input of order setting information used by a user to place a buy or sell order for the financial product held by the user, or a management device configured to receive the order setting information input by the user on the terminal device and enable the placement of a buy or sell order for the financial product based on the order setting information. That is, although the terminal device and the management device are described as examples respectively, the processing executed by the terminal device can also be executed by the management device, and the processing executed by the management device can also be executed by the terminal device. Also, although the terminal device and the management device are exemplified as the processing system 1, all the processing may be executed by any one device, or the processing may be executed distributively on a plurality of terminal devices or a plurality of management devices respectively.

[0032] In addition, in the present disclosure, a management device is described as an example of a processing device. However, this management device only has the word "management" described for the purpose of distinguishing it from other devices. That is, any device that can enable the placement of orders for financial products based on order setting information or the like may be used, and in particular, it does not necessarily need to be operated and managed by an administrator, nor does it need to be connected to a plurality of terminal devices to manage a huge number of orders.

[0033] In addition, in the present disclosure, the method of placing orders for financial products is not particularly limited. However, generally, as such a method of placing orders for financial products, there are a limit order in which the market price at the time of buying and selling can be specified as the price desired by oneself, and a market order in which an order is placed without specifying the market price at the time of buying and selling and the actual purchase price is the market price at the time when the transaction is concluded. In the present disclosure, the case of placing a market order will be mainly described below, but either the limit order or the market order can be preferably applied.

[0034] In addition, in the present disclosure, processing is performed based on a reference price. The reference price is a price different from the current market price and is information calculated from the market price. The reference price may be any price that can be used to determine whether the conditions set by the order setting information are satisfied. The reference price is preferably calculated based on the current buy order price and sell order price in the market dealing in the financial product, and more preferably set based on the average of the current buy order price and sell order price in the market dealing in the financial product. As an example of such a reference price, "mid-price" is used.

[0035] 2. Configuration of Processing System 1 FIG. 2 is a block diagram showing the configuration of a processing system 1 according to an embodiment of the present disclosure. According to FIG. 2, the processing system 1 includes a management device 100 and a terminal device 200, and each device is communicably connected via a wired or wireless network. The terminal device 200 is configured to receive an input such as order setting information used to place a buy or sell order for a financial product held by each user and transmit it to the management device 100. Further, the management device 100 is configured to receive the order setting information and the like input by the user in the terminal device 200 and enable the placement of a buy or sell order for a financial product based on the order setting information. In the example of FIG. 2, the management device 100 and the terminal device 200 are each described as separate entities, but both the management device 100 and the terminal device 200 can function as processing devices. Further, although only one integrated management device 100 is described, for example, the management device 100 can be configured by combining a plurality of server devices. Further, although only one integrated terminal device 200 is described, a plurality of terminal devices 200 may exist, for example, in a case where a plurality of users use the services provided by the processing system 1.

[0036] Here, although not particularly illustrated, the terminal device 200 has various components such as a processor, a memory, a communication interface for communicating with other devices such as the management device 100, an input interface for receiving an instruction input by the user such as order setting information, and an output interface for outputting various notifications received from the management device 100 and the like to a display or the like. By controlling these various components, the processor receives an input such as order setting information and transmits the information received by the management device 100. Examples of such a terminal device 200 include various devices such as a smartphone, a tablet, a laptop PC, a desktop PC, an information processing terminal, and a mobile phone.

[0037] FIG. 3 is a block diagram showing the configuration of the management device 100 according to an embodiment of the present disclosure. According to FIG. 3, the management device 100 includes a memory 112, a processor 111, and a communication interface 113. These components are electrically connected to each other via control lines and data lines. Note that the management device 100 does not necessarily include all of the components shown in FIG. 3, and it is possible to configure it by omitting some of them or adding other components. For example, it is also possible to connect it to other management devices, server devices, or database devices to form the management device 100 integrally.

[0038] The memory 112 is composed of a RAM, a ROM, a non-volatile memory, an HDD, etc., and functions as a storage unit. The memory 112 stores instruction commands for various controls in the processing system 1 according to the present embodiment as a processing program. Specifically, the memory 112 receives, from a terminal device usable by the user, "processing for receiving order setting information for setting conditions for permitting a buy order by receiving an operation input by the user for a financial product whose market price fluctuates", "processing for calculating a reference price based on the buy order price and the sell order price for a financial product at an arbitrary point in time", and "processing for enabling a buy order for a financial product when the reference price calculated at an arbitrary point in time satisfies the conditions set by the order setting information", etc., and stores a processing program for the processor 111 to execute. In addition to the processing program, the memory 112 stores various information stored in an order management table (FIG. 4A), an order placement management table (FIG. 4B), and an account management table (FIG. 4C).

[0039] Processor 111 functions as a control unit that controls other components of the management device 100 based on a processing program stored in memory 112. Processor 111 performs various processes for enabling the placement of buy or sell orders for financial products based on the processing program stored in memory 112. Specifically, processor 111 performs "a process of receiving, from a terminal device usable by the user, order setting information for setting conditions for permitting a buy order by receiving an operation input from the user for a financial product whose market price fluctuates", "a process of calculating a reference price based on the buy order price and the sell order price for a financial product at an arbitrary point in time", and "a process of enabling a buy order for a financial product when the reference price calculated at an arbitrary point in time satisfies the conditions set by the order setting information", etc., based on the processing program stored in memory 112. Processor 111 is mainly composed of one or more CPUs, but GPUs, FPGAs, etc. may be combined as appropriate.

[0040] Communication interface 113 functions as a communication unit for transmitting and receiving information to and from terminal device 200 and / or other devices. Examples of communication interface 113 include various things such as wired communication connectors such as USB and SCSI, wireless communication transmission and reception devices such as wireless LAN, Bluetooth (registered trademark), infrared, LTE, and 5G, and various connection terminals for printed mounting boards and flexible mounting boards.

[0041] 3. Information Managed by Management Device 100 FIG. 4A is a diagram conceptually showing an order management table stored in management device 100 according to an embodiment of the present disclosure. The information stored in the order management table is updated and stored at any time according to the progress of the processing of processor 111 of management device 100.

[0042] According to FIG. 4A, in the order management table, upper limit information, lower limit information, order interval information, time interval information, tolerance information, maximum order quantity information, etc. are stored in association with order ID information. The "order ID information" is information generated each time the terminal device 200 receives new order setting information, and is information unique to each order. It is used to identify each order.

[0043] The "upper limit information" and the "lower limit information" are one of the order setting information, and are information indicating an upper limit value and a lower limit value for indicating the price range of the market price at which a buy or sell order is placed, respectively. That is, when the upper limit value stored as the upper limit information is lower than the reference price (for example, mid-price) calculated based on the market price, the placement of a buy order is permitted. Also, when the lower limit value stored as the lower limit information is higher than the reference price (for example, mid-price) calculated based on the market price, the placement of a buy order is permitted.

[0044] The "order interval information" is one of the order setting information, and is information indicating the interval of the prices at which buy orders are placed within the range determined by at least one of the upper limit information and the lower limit information. That is, the buy order price of a buy order is determined based on the execution price of the previous buy order, the upper limit price shown in the upper limit information, or the lower limit price shown in the lower limit information and the interval shown in the order interval information.

[0045] The "time interval information" is one of the evaluation items for evaluating the risk for buy orders, and is information for evaluating the elapsed time from the time related to the buy orders for financial products ordered in the past. For example, if the time stored as the time interval information has not yet been exceeded since a buy order was placed in the past, even if the current reference price becomes the price specified by the order interval information, the buy order is not executed.

[0046] "Tolerance information" is one of the evaluation items for assessing the risk of a buy order, and is information related to the difference between the order price of a buy order placed for each financial product and the order price of a sell order placed for the same financial product. As an example of this, it is shown as a percentage calculated by dividing the value obtained by subtracting the "buy order price" from the "sell order price" for each financial product by the "buy order price". If the said percentage is within a predetermined range, the transaction is concluded; if it is outside that range, the conclusion of the transaction is restricted. In the above example, the "sell order price" is obtained by the management device receiving this information from the device operating the system of the exchange for the said financial product. Also, the "buy order price" is obtained from the order management table shown in Figure 4B.

[0047] "Maximum order quantity information" is one of the evaluation items for assessing the risk of a buy order, and is information for restricting the current order in the event that the cumulative order quantity of a financial product within a predetermined period exceeds the quantity specified by the maximum order quantity information due to the placement of the current buy order. This predetermined period may start from the first buy order placed after receiving the order setting information, or may start from other past orders placed by the same user. Also, the quantity managed here may be not only the quantity of the same financial product, but also the quantity of other financial products of the same type or financial products of other types. Also, the quantity managed here is not limited to the number of orders placed for a financial product, and amounts used in transactions, etc. can also be used as quantities.

[0048] Although not particularly shown in Figure 4A, various information such as user ID information for identifying the user who placed each order specified by the order ID information, order time information indicating the time when each order was placed by the user, information indicating whether it is a market order or a limit order, information for identifying the financial product targeted by the transaction, and information indicating the current status of each order, etc. are stored in association with the order ID information as necessary.

[0049] FIG. 4B is a diagram conceptually showing an order management table stored in the management device 100 according to an embodiment of the present disclosure. The information stored in the order management table is updated and stored as needed according to the progress of the processing of the processor 111 of the management device 100.

[0050] Here, the order placement management table is a table generated for each order managed by the order management table, and is a table for managing each order placement generated based on the order setting information associated with each order. Therefore, FIG. 4B shows an order placement management table for the order with the order ID information "O1" as an example of this order placement management table. According to FIG. 4B, information such as buy order placement price information, buy order time information, buy execution price information, account information, required margin information, order quantity information, and sell order placement price information is stored in association with the order placement ID information.

[0051] The "order placement ID information" is information generated each time a new buy order is placed based on the order setting information, and is information unique to each order placement. This information is used to identify each order placement. The "buy order placement price information" is information determined based on the execution price of the previous buy order, the upper limit price shown in the upper limit information, or the lower limit price shown in the lower limit information and the order interval information, and is information indicating the price when placing a buy order. When the current reference price reaches any of the prices stored as the buy order placement price information, a buy order corresponding to that price is placed.

[0052] The "buy order time information" is information for specifying the time related to the buy order placed at the price set by the buy order placement information. Such time uses information such as the time when the buy order was placed and the time when the buy order was executed. The "buy execution price information" is information indicating the execution price when a sell order is attached to the buy order after the buy order is placed at the price set by the buy order placement price information and the buy order is executed.

[0053] "Account information" is information for identifying the account used in each order. Typically, account ID information is stored. "Required margin information" is information indicating the amount of margin required in each order. The required margin information is calculated, for example, by "purchase contract price * order quantity / leverage ratio * currency conversion price". The purchase contract price is identified by the purchase contract price information indicating the contract price when a sell order is made for a buy order. The order quantity is information indicating the quantity of an order that has not yet been settled, and is identified by the order quantity information indicating the quantity of the financial product for which the order was placed. The leverage ratio is a ratio whose maximum value is set in advance by the administrator. The user may set an arbitrary numerical value within the range of the maximum value for the leverage ratio. The currency conversion price is information indicating the exchange rate between the financial product subject to the transaction and the money deposited in the account.

[0054] "Order quantity information" is information indicating the quantity of the financial product for which each order was placed. When the sell contract price is not stored in the corresponding order and the settlement has not yet been made, it is used as a numerical value for calculating the required margin. The quantity managed here is not limited to the actual number of orders placed for the financial product, but can also include the amount of money used in the transaction (for example, the amount obtained by multiplying the number of financial products bought at the contract price) as the quantity.

[0055] Although not particularly shown in FIG. 4B, various information such as order time information indicating the time when each order identified by the order ID information was placed, contract time information indicating the contract time, and information indicating the current status of each order are stored in association with the order ID information as needed.

[0056] FIG. 4C is a diagram conceptually showing an account management table stored in the management device 100 according to an embodiment of the present disclosure. The information stored in the account management table is updated and stored at any time according to the progress of the processing of the processor 111 of the management device 100. An example of an account managed by the account management table is a margin account used for managing margin.

[0057] According to FIG. 4C, in the account management table, balance information, required margin information, margin maintenance rate information, status information, etc. are stored in association with the account ID information. The "account ID information" is information generated each time a request to open a new account is received from a user, and is unique information that can identify each account. The "balance information" is information indicating the balance of the money deposited in each account. In the case of a margin account, the balance fluctuates due to a deposit request from another account by the user or a withdrawal request to another account. Also, when a loss occurs in a transaction of a financial product using margin, the balance fluctuates when money is withdrawn from the account.

[0058] The "required margin information" is information indicating the total amount of the required margin specified as the required margin information in each order in which the account specified by each account ID information is designated as a margin account. For example, focusing on "E1" as the account ID information in FIG. 4C, when there are multiple orders in which "E1" is stored in the account information (account ID information) in FIG. 4B, the total amount of the required margin specified in each order is stored as the required margin information in FIG. 4C.

[0059] The "margin maintenance rate information" is information indicating the margin maintenance rate of the account specified by each account ID information. The margin maintenance rate (%) is calculated, for example, by "net asset value / total required margin of the entire account * 100". The net asset value is the amount obtained by adding the balance of the money deposited in the account stored as the balance information and the total realized profit and loss of the orders in which the account is designated as a margin account, and then subtracting the amount of the withdrawal reservation. The total required margin of the entire account is the total amount of the required margin of the entire account stored as the required margin information shown in FIG. 4C. Since the total realized profit and loss of the order changes in real time with the change in the market price, the margin maintenance rate is updated every second.

[0060] "Status information" is information indicating the current status of an account specified by each account ID information. In the processing system 1, the margin maintenance rate or the account balance is used as order evaluation information. For example, when the margin maintenance rate falls below a predetermined first threshold, orders that have been placed and are unsettled are forcibly settled, and new transactions are restricted. Also, in the processing system 1, when the margin maintenance rate is below a second threshold that is higher than the predetermined first threshold, it notifies that it has fallen below the second threshold and notifies the user that new margin transactions are restricted. Therefore, as status information, for example, "normal state" indicating that transactions can be carried out normally, "restricted state" indicating a state where forced settlement has occurred and new margin transactions are restricted, and "caution state" indicating that new margin transactions are restricted are stored.

[0061] Although not particularly shown in FIG. 4C, user information of the user who owns the account, information indicating the past transaction history using the account, etc. may be stored.

[0062] 4. Processing Flow Executed by Management Device 100 (A) Processing at the time of receiving order setting information FIG. 5 is a diagram showing a processing flow executed in the management device 100 according to an embodiment of the present disclosure. Specifically, FIG. 5 shows a processing flow executed when the management device 100 receives order setting information and registers orders for financial products in the order management table and the order placement management table based on the received order setting information. The processing flow is mainly performed by the processor 111 of the management device 100 reading and executing a processing program stored in the memory 112.

[0063] According to FIG. 5, the processor 111 receives an interrupt signal due to receiving order setting information for placing a buy order for a financial product from the terminal device 200 via the communication interface 113 (S111). Thereby, the processing flow is started.

[0064] Here, the order setting information is information input via the user through the input interface of the terminal device 200 by means of a website or application program of a financial product trading service provided by the processing system 1 in advance to the terminal device 200. This order setting information includes upper limit information, lower limit information, and order interval information in addition to information specifying the financial product to be ordered and information specifying the user. Further, in the terminal device 200, in addition to the order setting information, order evaluation information is also input in the same manner. This order evaluation information is information used as a reference value when evaluating each order with respect to predetermined evaluation items. Typically, the order evaluation information includes information for evaluating the risk when placing a buy order, such as time interval information, tolerance information, and maximum order quantity information. Note that although not particularly illustrated, the input of the order setting information and the order evaluation information is performed by providing input boxes corresponding to each item and accepting arbitrary character or numerical input by the user via the input interface, or accepting the selection of a desired option from among pre-set options.

[0065] When newly receiving the order setting information, the processor 111 newly generates order ID information and stores the generated order ID information in the order management table (S112). Then, the processor 111 checks the suitability of the order, such as whether the transaction amount predicted based on the order price set by the order information and the planned quantity of the financial product to be ordered is less than the amount information of the margin, and whether the user of the terminal device 200 that transmitted the order setting information is an appropriate user (S113). As a result of the above check, if there are no particular problems, the processor 111 stores each piece of information in the order management table and the order placement management table based on the order setting information and the order evaluation information received at the same time as or at a timing different from the order setting information (S114).

[0066] When the received order setting information is registered in each table of the memory 112, the processor 111 transmits, via the communication interface 113, an order reception result indicating that the order has been normally registered to the terminal device 200 that transmitted the order setting information (S115). Note that when the order is not appropriate or when there is insufficient information and the order cannot be registered, the processor 111 prompts the user for re - input or transmits a notification indicating that the order is cancelled. Thereby, the processing flow ends.

[0067] (B) Processing performed when calculating the current mid - price FIGS. 6A and 6B are diagrams showing a processing flow executed in the management device 100 according to an embodiment of the present disclosure. Specifically, FIGS. 6A and 6B show a processing flow executed when calculating the current mid - price of each financial product in the management device 100. The processing flow is mainly performed by the processor 111 of the management device 100 reading and executing a processing program stored in the memory 112 at a predetermined period (for example, every 100 milliseconds). Note that hereinafter, the case where the mid - price is used as the reference price will be described, but of course, the reference price is not limited to only the mid - price.

[0068] According to FIG. 6A, the processor 111 receives, via the communication interface 113, the buy order price of one or more buy orders and the sell order price of one or more sell orders from the terminal device 200 or another terminal device at any timing. The processor 111 reads out the received latest buy order price and sell order price at an arbitrary timing (for example, every 100 milliseconds) and calculates the mid - price as the reference price (S211). As an example of the processing, the processor 111 reads out the highest buy order price among the latest one or more buy orders and the lowest sell order price among the latest one or more sell orders and calculates the average of the two prices. Then, the processor 111 stores the calculated average price in the memory 112 as the mid - price (S212).

[0069] Next, the processor 111 refers to the order management table and the purchase order management table respectively (S213). Then, based on the purchase order management table, the processor 111 determines whether there is a buy order for the purchase order ID information for which no agreed price information has been stored yet, and the mid-price stored in S212 is lower than the buy order price specified by each buy order price information (S214). That is, the processor 111 permits a buy order on the condition that the first condition is that the buy order price specified by the buy order price information is lower. Hereinafter, the case of an order whose order ID information is specified by "L1" (FIG. 4B) will be described as a buy order with a mid-price lower than the mid-price.

[0070] Here, FIG. 7A is a diagram conceptually showing a buy order for a financial product made in the processing system 1 according to an embodiment of the present disclosure. Specifically, FIG. 7A is a diagram showing the history of fluctuations in the mid-price used as a reference price in a certain financial product. According to FIG. 7A, the mid-price of the financial product that fluctuates every moment is arranged on the vertical axis, and time is arranged on the horizontal axis. That is, it is shown that for this financial product, the mid-price calculated in the trading market changes with the passage of time as shown by the curve 51. For such a financial product, FIG. 7A shows that the upper limit value Z1, the lower limit value Z2, and the interval S1 are set as the upper limit information, the lower limit information, and the order interval information, respectively, and the buy order price B1 corresponding to the first buy order 71-1 is set as a condition for permitting the buy order. That is, the buy order 71-1 is placed when the current mid-price has dropped by the interval S1 from the upper limit value Z1.

[0071] Returning to FIG. 6A again, when the current mid-price is lower than the buy order price specified by the buy order price information M1 and the buy order is permitted, the processor 111 executes an evaluation based on the order evaluation information for the order specified by the order ID information L1. That is, the processor 111 permits a buy order on the condition that the result of the evaluation based on the order evaluation information is used as the second condition. Specifically, the processor 111 refers to the order time information in the order management table and identifies the order time information in which the most recent time is stored. The processor 111 compares the current time with the time obtained by adding the time specified by the time interval information F1 stored in the order management table to that time (S215). Then, when it is determined that the current time does not exceed the time obtained by the addition, the processor 111 cancels the order and outputs a predetermined warning to the user's terminal device 200 via the communication interface 113 (S223 in FIG. 6B). The warning includes that the order has been canceled and the reason (the condition based on the time interval information F1 which is the order evaluation information) has not been satisfied. On the other hand, when it is determined that the time has been exceeded, the processor 111 executes the next process. Note that the processor 111 may refer only to the order management table associated with the same order ID information L1, or may refer to all the order management tables associated with the same user, or may refer to the order management table associated with the same user and the same financial product, or may refer to the order management table associated with the same user and the same type of financial product.

[0072] Here, FIG. 7B is a diagram conceptually showing a buy order for a financial product made in the processing system 1 according to an embodiment of the present disclosure. Specifically, FIG. 7B is a diagram showing an example in which an order is not placed based on the time interval information set as order evaluation information regarding the financial product shown in FIG. 7A. According to FIG. 7B, the processor 111 refers to the time when the current mid-price was received. Then, the processor 111 determines whether the current time has elapsed from the time (for example, the time when the buy order 71-1 was placed) stored in relation to the most recently made buy order 71-1 by the time interval information. And if it has not elapsed, the processor 111 does not place the order even if it is assumed that the order price has fallen below the buy order price corresponding to any of the buy orders. In the example of FIG. 7B, no order is placed until the time T1 specified by the time interval information has elapsed from the buy order 71-1. Therefore, although the mid-price is lower than the buy order price specified by the buy order price information corresponding to the buy order 72-1, the corresponding buy order 72-1 has not been executed. Thus, for example, while there are rapid fluctuations in the market price in a short period of time from the orders placed in the past, it is expected that the rapid fluctuations will continue thereafter, and there is a high possibility of a high-risk transaction. Therefore, by using the time interval information, it is possible to prevent the execution of such high-risk transactions.

[0073] Returning to FIG. 6A again, when the current mid-price is lower than the buy order price specified by the buy order price information M1, the processor 111 executes an evaluation based on the tolerance information G1 for the order specified by the order ID information L1 (S216). Specifically, the processor 111 refers to the tolerance information G1 in the order management table based on the order ID information A1 associated with the order. Then, the processor 111 pre-gets information on the sell order price currently attached to the financial product from the device of the financial product exchange, and subtracts from this information the buy order price specified by the buy order price information M1 associated with the order ID information L1. The processor 111 further divides the value obtained by the subtraction by the buy order price. That is, the processor 111 calculates the ratio of the difference between the sell order price and the buy order price to the buy order price of the buy order. If the value (absolute value) obtained by the division exceeds the value specified by the tolerance information G1, the processor 111 cancels the order and outputs a predetermined warning to the user's terminal device 200 via the communication interface 113 (S223 in FIG. 6B). The warning includes that the order has been canceled and the reason (not meeting the conditions based on the tolerance information G1 which is order evaluation information). On the other hand, if it is lower, the processor 111 executes the next process.

[0074] Here, FIG. 7C is a diagram conceptually showing a buy order for a financial product made in the processing system 1 according to an embodiment of the present disclosure. Specifically, FIG. 7C is a diagram showing an example in the case where an order is not placed based on the tolerance information set as order evaluation information regarding the financial product shown in FIG. 7A. According to FIG. 7C, when the mid-price falls below the buy order price corresponding to the buy order 72-1, the processor 111 subtracts the buy order price of the buy order 72-1 from the sell order price attached to the financial product obtained separately from the exchange. The processor 111 calculates a value obtained by further dividing the value obtained by the subtraction by the buy order price of the buy order 72-1. In the example of FIG. 7C, since the value obtained by the division exceeds the previously set tolerance information, an order for the buy order 72-1 has not been placed. Thus, by using the tolerance information, it becomes possible to prevent disadvantages such as the difference between the order price and the transaction price becoming larger than expected.

[0075] Returning to FIG. 6A again, when the current mid-price is lower than the buy order price specified by the buy order price information M1, the processor 111 executes an evaluation based on the maximum order quantity information H1 for the order specified by the order ID information L1 (S217). Specifically, the processor 111 refers to the maximum order quantity information H1 in the order management table based on the order ID information A1 associated with the order. Then, when an order for the quantity specified by the order quantity information R1 associated with the order ID information L1 is placed, the processor 111 determines whether the cumulative order quantity of the financial product in a predetermined period exceeds the limit. If the processor 111 determines that it exceeds the limit, it cancels the order and outputs a predetermined warning to the user's terminal device 200 via the communication interface 113 (S223 in FIG. 6B). The warning includes that the order has been canceled and the reason (the condition based on the maximum order quantity information H1 which is order evaluation information) has not been met. On the other hand, if it is lower, the processor 111 executes the next process. Note that the range for counting the cumulative order quantity may refer only to the order quantity information of the executed buy orders in the order management table associated with the same order ID information, or may refer to the order quantity information of the executed buy orders in all order management tables associated with the same user, or may refer to the order quantity information of the executed buy orders in the order management table associated with the same user and the same financial product, or may refer to the order quantity information of the executed buy orders in the order management table associated with the same user and the same type of financial product.

[0076] Here, FIG. 7D is a diagram conceptually showing a buy order for a financial product made in the processing system 1 according to an embodiment of the present disclosure. Specifically, FIG. 7D is a diagram showing an example where an order is not placed based on the maximum order quantity information set as order evaluation information for the financial product shown in FIG. 7A. According to FIG. 7D, when the mid-price falls below the buy order price corresponding to the buy order 74-1, the processor 111 refers to the order quantity information associated with the buy order. Then, the processor 111 adds the order quantity associated with the buy order 74-1 to the cumulative value of the order quantities executed in the past buy orders (that is, the buy orders 71-1 to 73-1). As a result, if the value obtained by the addition exceeds the quantity specified by the pre-set maximum order quantity information, the processor 111 does not place an order for the buy order 74-1. Since the mid-price changes moment by moment, it is theoretically possible that it fluctuates wildly around the buy order price information depending on the situation, and excessive orders may be placed. By setting the maximum order quantity information in advance, it is possible to prevent such excessive orders beyond the assumption.

[0077] Returning again to FIG. 6A, the processor 111 checks whether the current time falls within a pre-set operating time (S218). Specifically, the processor 111 refers to the operating time pre-set by, for example, the operator of the processing system 1, and determines whether the current time is within the operating time. As a result of the determination, if it is outside the operating time, the processor 111 cancels the order for the buy order specified by the order ID information L1, and outputs a predetermined warning to the user's terminal device 200 via the communication interface 113 (S223 in FIG. 6B). The warning includes that the order has been cancelled and the reason (not meeting the condition based on the operating time which is order evaluation information). On the other hand, if it is within the operating time, the processor 111 executes the next process.

[0078] Here, FIG. 7E is a diagram conceptually showing a buy order for a financial product made in the processing system 1 according to an embodiment of the present disclosure. Specifically, FIG. 7E is a diagram showing an example in the case where an order is not placed based on the operating hours for the financial product shown in FIG. 7A. According to FIG. 7E, when the mid-price falls below the buy order price corresponding to the buy order 73-1, the processor 111 refers to a timer (not shown) to identify the time at that moment. And when the time is outside the preset operating hours, the processor 111 does not place an order for the buy order 73-1. Thus, in a financial product where the mid-price changes every moment, it is necessary to manage the processing system 1 extremely carefully. However, outside the preset operating hours, the ability to respond to unexpected events (such as system malfunctions, etc.) may also be limited. Therefore, by managing the success or failure of orders based on the operating hours, it becomes possible to reduce the risk against such unexpected events.

[0079] Returning to FIG. 6A again, the processor 111 acquires the current market price and updates the account management table and the order management table based on the market price (S219). Specifically, the processor 111 refers to the account management table and calculates the margin maintenance rate (%) for each account ID information. The calculation is executed by the processor 111 calculating "net asset amount / total required margin of the entire account * 100". When the processor 111 calculates the margin maintenance rate (%), the processor 111 stores the margin maintenance rate in association with each account ID information.

[0080] Next, according to FIG. 6B, when the margin maintenance rate is calculated, the processor 111 determines whether it is less than the first threshold for each calculated margin maintenance rate (S220). Here, the first threshold is used to prevent a large loss from occurring due to a large movement in the market price beyond the assumption and to minimize the loss as much as possible. Therefore, the first threshold is set by the administrator who operates the management device 100, and it is preferable that the adjustment to an arbitrary value by the user is restricted. As an example, a value of 100% is set for the first threshold. Of course, the numerical value of the first threshold may be set to an arbitrary value by the user.

[0081] When the processor 111 determines that the margin maintenance rate is less than the first threshold, it refers to the account ID information associated with the margin maintenance rate. Then, the processor 111 refers to the order management table to identify the order for which the account ID information is stored as account information. The processor 111 further identifies, among the identified orders, those for which the buy settlement price has already been stored but the sell settlement price has not yet been stored, that is, the unsettled orders, and refers to the order ID information (for example, order ID information L1) thereof. Then, the processor 111 places a sell order for the order specified by the order ID information (for example, order ID information L1) and forces settlement. Thereby, it is possible to prevent the loss from increasing continuously despite the insufficient margin.

[0082] On the one hand, when the processor 111 determines that the margin maintenance rate has not fallen below the first threshold, it executes an evaluation based on the order evaluation information for the order specified by the order ID information (for example, order ID information L1). Specifically, the processor 111 determines whether the margin maintenance rate (for example, margin maintenance rate V1), which is one of the order evaluation information, has fallen below the second threshold (S221). Here, the second threshold is used to limit the trading of new financial products because outstanding orders may be forced to be settled. This can prevent forced settlement due to insufficient margin. Such a second threshold is set to a value higher than the first threshold, and since the risk tolerance varies among users, it is preferable that each user can adjust it to an arbitrary value. In this case, the processor 111 receives a setting request for the second threshold from the terminal device 200 available to the user, allowing the user to adjust it to the desired value. As an example, the second threshold is set to a value of 105%. Of course, the adjustment of the numerical value of the second threshold may be set by an administrator or the like, and the adjustment by the user may be restricted.

[0083] When the processor 111 determines that the margin maintenance rate is below the second threshold, it refers to the account ID information associated with the margin maintenance rate. Then, the processor 111 cancels the order specified by the order ID information associated with the account ID information, and outputs a predetermined warning to the user's terminal device 200 via the communication interface 113 (S223). The warning includes that there is a possibility that an outstanding order below the second threshold will be forced to be settled, that the current new order has been canceled, and the reason therefor (not meeting the conditions based on the margin maintenance rate information which is order evaluation information). On the other hand, when the processor 111 determines that the margin maintenance rate does not fall below the second threshold, it confirms the order of the buy order specified by the order ID information (for example, order ID information L1) (S224). Specifically, the processor 111 generates order information for the buy order of the financial product based on the order price specified by the buy order price information (for example, buy order price information M1) associated with the order ID information (for example, order ID information L1). Then, the processor 111 transmits the generated order information to the management device of the exchange via the communication interface 113 in order to purchase the financial product in the trading market of the financial product. Also, the processor 111 refers to the timer and stores the time when the buy order was placed in association with the order ID information as buy order time information.

[0084] Next, the processor 111 determines whether it has received, via the communication interface 113, a notification that the buy order made in S224 has been executed from the management device of the exchange (S225). Then, when the processor 111 receives, via the communication interface 113, information on the execution of the buy order and the buy execution price at that time, it updates each management table such as the order management table (S226). Specifically, the processor 111 stores the received buy execution price in the buy execution price information O1 associated with the executed buy order (for example, the order of order ID information L1).

[0085] Next, the processor 111 calculates the buy order price for the next order of the order specified by the order ID information L1 based on the buy contract price stored in the buy contract price information O1 (S227). Specifically, the processor 111 refers to the order management table based on the order ID information A1 associated with the order ID information L1, and reads out the order interval information E1. The processor 111 subtracts the price corresponding to the interval specified by the read order interval information E1 (for example, the interval S1 in FIG. 7A) from the buy contract price specified by the buy contract price information O1 associated with the order ID information L1. Then, the processor 111 generates new order ID information L2, and stores the obtained price in association with the order ID information L2 as the next buy order price information M2. At this time, the account information, the required margin information, and the order quantity information are stored in the same manner as the order ID information L1 as appropriate.

[0086] As described above, when a new order specified by the order ID information L2 is generated, the processing flow ends. In this way, for the order specified by the newly generated order ID information L2 in the next cycle of FIGS. 6A and 6B, it is determined whether the order is permitted based on the mid-price. Thereafter, similarly, the orders associated with the order ID information L3, the order ID information L4, and subsequent order ID information are processed in the same manner.

[0087] Here, as described above, FIG. 7A is a diagram showing the history of fluctuations in the mid-price used as a reference price in a certain financial product. According to FIG. 7A, an upper limit value Z1 and a lower limit value Z2 for showing the price range of the mid-price calculated from the market price at which a buy order is placed for the financial product are shown, respectively. That is, by obtaining the upper limit value Z1 and the lower limit value Z2 in advance as order setting information, a buy order is enabled when the mid-price calculated from the market price of the financial product falls within the range defined by the upper limit value Z1 and the lower limit value Z2.

[0088] Also, according to FIG. 7A, for a financial product, a price interval S1 for placing a buy order within the range determined as described above is shown. That is, the interval S1 is acquired in advance as order setting information. Then, when the mid - price of the financial product reaches the price defined by the interval S1 from the upper limit value or the lower limit value, the first buy order is placed. In the example of FIG. 1B, it is shown that a buy order 61 - 1 was placed when the mid - price dropped by the interval S1 from the upper limit value Z1. That is, at this timing, each of the processes S214 to S224 shown in FIGS. 6A and 6B is executed. As a result of these processes, when a buy order 71 - 1 is filled at a buy execution price C1 having a difference X1 from the buy order price B1, the buy order price B2 of the second buy order 72 - 1 is set based on the buy execution price C1 and the interval S1. That is, at this timing, each of the processes S226 and S227 shown in FIGS. 6A and 6B is executed.

[0089] Next, in FIG. 7A, when the mid - price reaches the buy order price B2, the buy order 72 - 1 is executed. That is, at this timing, each of the processes S214 to S224 shown in FIGS. 6A and 6B is executed again. As a result of these processes, when a buy order 72 - 1 is filled at a buy execution price C2 having a difference X2 from the buy order price B2, the buy order price B3 of the third buy order 73 - 1 is set based on the buy execution price C2 and the interval S1. That is, at this timing, each of the processes S226 and S227 shown in FIGS. 6A and 6B is executed again.

[0090] Next, in FIG. 7A, when the mid - price reaches the buy order price B3, the buy order 73 - 1 is executed. That is, at this timing, each of the processes S214 to S224 shown in FIGS. 6A and 6B is executed again. As a result of these processes, when a buy order 73 - 1 is filled at a buy execution price C3 having a difference X3 from the buy order price B3, the buy order price B4 of the fourth buy order 74 - 1 is set based on the buy execution price C3 and the interval S1. That is, at this timing, each of the processes S226 and S227 shown in FIGS. 6A and 6B is executed again.

[0091] Next, in FIG. 7A, when the mid-price reaches the buy order price B4, the buy order 74-1 is executed. That is, at this timing, each of the processes S214 to S224 shown in FIGS. 6A and 6B is executed again. As a result of these processes, when the buy order 74-1 is contracted at the buy contract price C4 having the difference X4 from the buy order price B4, the buy order price B5 of the fifth buy order 75-1 is set based on the buy contract price C4 and the interval S1. That is, at this timing, each of the processes S226 and S227 shown in FIGS. 6A and 6B is executed again.

[0092] Next, in FIG. 7A, when the mid-price reaches the buy order price B5, the buy order 74-1 is executed. That is, at this timing, each of the processes S214 to S224 shown in FIGS. 6A and 6B is executed again. As a result of these processes, when the buy order 74-1 is contracted at the buy contract price C5 having the difference X5 from the buy order price B5, the buy order price of the next buy order is calculated based on the buy contract price C4 and the interval S1. However, in the case shown in FIG. 7A, since the calculated buy order price is lower than the lower limit value Z2, the setting of the next buy order is not performed.

[0093] In this way, the processing system 1 determines whether to execute each buy order based on the mid-price and the buy order price set for each buy order. Further, the processing system 1 calculates the buy order price used in the above determination based on the buy contract price in the previous buy order. Therefore, it is possible to flexibly respond to rapid fluctuations in the market price and reduce the influence received from such fluctuations.

[0094] As described above, in the present disclosure, it is possible to provide a processing device, a processing program, and a processing method that enable more efficient ordering of financial products.

[0095] 5. Modification Example In FIGS. 1A to 7E, the case of executing a limit order using the processing system 1 has been described. However, the processing system 1 can also be used in the same way for market orders. In this case, profit determination width information and stop-loss width information are further stored in the order management table shown in FIG. 4A in association with each order ID information, and sell order price information and sell execution price information are stored in the order placement management table shown in FIG. 4B in association with each order placement ID information, respectively.

[0096] "Profit determination width information" is one of the order setting information, and is information for determining the sell order price when placing a sell order for a financial product ordered at the buy order price determined by order interval information or the like. That is, the sell order price when placing a sell order is determined by adding the profit width defined by the profit determination width information to the buy execution price of the financial product purchased by the buy order. Also, "stop-loss width information" is one of the order setting information, and is information for placing a sell order regardless of the profit determination width information when the current market price is lower than the price defined by the stop-loss width information for a financial product bought at the order price determined by order interval information or the like. That is, when the current market price is lower than the value obtained by subtracting the price defined by the stop-loss width information from the buy execution price of the financial product purchased by the buy order, a sell order is placed for the financial product.

[0097] "Sell order price information" is information indicating the sell order price when placing a sell order for a financial product for which a buy order has been placed and executed. The sell order price information is typically calculated by adding the profit determination margin managed in the order management table to the buy execution price. Since a sell order for the financial product is placed when the current mid-price of the financial product reaches the price specified by the sell order price information, this information is the information that defines the timing of placing the sell order. "Sell execution price information" is information indicating the execution price when a buy order is attached to the sell order after the sell order has been placed at the price set by the "sell order price information" and the order is executed. When this information is stored, it means that the order has been settled in this order placement.

[0098] When the mid-price is calculated in S211 of FIG. 6A, the processor 111 determines whether there is an order that exceeds the profit determination margin specified by the profit determination margin information set by referring to each order management table. As a result, if there is an order that exceeds the profit determination margin, a sell order is executed. When a sell order is placed, the processor 111 associates the sell order price with the sell order price information of the corresponding order ID information, and when the sell order is executed, it associates and stores the sell execution price with the sell execution price information.

[0099] Also, when the mid-price is calculated in S211 of FIG. 6A, the processor 111 determines whether there is an order that exceeds the stop-loss margin specified by the stop-loss margin information set by referring to each order management table. As a result, if there is an order that exceeds the stop-loss margin, a sell order is forcibly executed. When a sell order is placed, the processor 111 associates the sell order price with the sell order price information of the corresponding order ID information, and when the sell order is executed, it associates and stores the sell execution price with the sell execution price information.

[0100] Note that the same value is used for each order ID information for this profit determination margin information and stop-loss margin information, but different values may be set for each order ID information, or the same value may be set for all orders or order placements.

[0101] In addition, in the present disclosure, each buy order price is set at an interval S1 set as order interval information. However, the interval S1 of the buy order price does not necessarily have to be set at the same interval, and it may be set so that its width gradually increases toward either the upper limit value or the lower limit value, or a plurality of arbitrary intervals may be provided.

[0102] In addition, in the present disclosure, the case of using either the upper limit value or the lower limit value as the upper limit information and the lower limit information has been described, but it is also possible to use only one of these.

[0103] In addition, in the present disclosure, an example of buying and then selling in each processing flow of FIGS. 5, 6A, and 6B has been described. Naturally, conversely, that is, a buy-sell transaction in which a sell order is placed first and then a buy order is placed can also suitably use the system according to the present disclosure. For example, the processor 111, as the order setting information shown in S111 of FIG. 5, for the financial product sold that has been sold at an order price determined by information such as information specifying the financial product to be ordered (that is, the product to be sold) among the currently owned financial products, upper limit information (that is, the upper limit value of the price range of the market price at which the sell order is placed), lower limit information (that is, the lower limit value of the price range of the market price at which the sell order is placed), order interval information (that is, information indicating the interval of the market price at which the sell order is placed), etc., receives information for determining the order price when placing a buy order. Then, the processor 111 stores each information in the order management table and the order placement management table by the same processing as S112 to S115 shown in FIG. 5, and transmits to the terminal device 200 that the order has been made normally.

[0104] Next, as shown in S214 of FIG. 6A, the processor 111 determines whether there is an order in which the mid-price exceeds the selling order price. Then, as shown in S215, the processor 111 determines whether a sufficient amount of time (the time defined by the time interval information in the order management table) has elapsed since the most recent transaction, performs an evaluation based on the tolerance information as shown in S216, performs an evaluation based on the maximum order quantity information as shown in S217, performs an evaluation as to whether it is within the operating hours as shown in S218, performs an evaluation based on the margin maintenance rate as shown in S221, and determines whether to place a sell order according to the result.

[0105] Next, when the placed sell order is executed as shown in S311 of FIG. 7, the processor 111 stores the execution price as shown in S312 to S314, calculates the buying order price, and notifies the execution.

[0106] In addition, in the present disclosure, the case where the management device 100 performs processing related to placing a buy order has been described. However, naturally, some of the processing may be distributed to the terminal device 200, or these processes may be performed only by the terminal device 200. That is, the processing device may mean only the management device 100 in some cases, may mean a combination of the management device 100, the terminal device 200, and other devices in some cases, and may mean only the terminal device 200 in some cases.

[0107] In addition, in the present disclosure, the margin maintenance rate is used as order evaluation information for evaluating the evaluation item (margin maintenance rate information) related to the account. However, in addition to this, or instead of this, the balance information of the margin account may be used. For example, the processor 111 may compare the amount of required margin in the order specified by the order ID information with the balance information of the account, and cancel the order if the amount of required margin is greater than the amount specified by the balance information.

[0108] Also, although not described in detail, the processing program according to the present disclosure may be provided as a local application program installed in the management device 100 or the terminal device 200, or may be provided to the management device 100 or the terminal device 200 as a web application program by another server device or the like. In the latter case, another server device or the like can function as a processing device.

[0109] The processes and procedures described in this specification can be realized not only by those explicitly described in the embodiments, but also by software, hardware, or a combination thereof. Specifically, the processes and procedures described in this specification are realized by implementing the logic corresponding to the processes in media such as integrated circuits, volatile memories, non-volatile memories, magnetic disks, and optical storage. Also, the processes and procedures described in this specification can be implemented as a computer processing program and executed on various computers including a display device and a server device.

[0110] Even if it is described that the processes and procedures described in this specification are executed by a single device, software, component, or module, such processes or procedures can be considered to be executed by a plurality of devices, a plurality of software, a plurality of components, and / or a plurality of modules. Also, even if it is described that various information described in this specification is stored in a single memory or storage unit, such information can be considered to be distributed and stored in a plurality of memories provided in a single device or a plurality of memories distributed in a plurality of devices. Furthermore, the software and hardware elements described in this specification can be realized by integrating them into fewer components or decomposing them into more components.

Description of Reference Numerals

[0111] 1 Processing system 100 Management device 200 Terminal device

Claims

1. A processing device comprising at least one processor, The at least one processor: receiving order setting information for setting a first condition for permitting a buy order from a terminal device usable by a user by accepting an operational input by the user for a financial product with a fluctuating market price; Calculating a reference price based on the buy order price and the sell order price for the financial product at any point in time; determining whether the reference price calculated at the arbitrary time satisfies the first condition set by the order setting information in order to enable a buy order for the financial product; permitting the purchase order to be placed if the purchase order satisfies a second condition different from the first condition; configured to perform a process for the reference price is an average of the buy order price and the sell order price; the first condition includes the reference price reaching a purchase order price set for a purchase order; the second condition includes a condition related to order valuation information being valuated based on the market price rather than the reference price calculated for the first condition; Processing unit.

2. The processing device according to claim 1 , wherein the reference price is calculated based on the highest buy order price and the lowest sell order price at the given time.

3. The processing device according to claim 1 , wherein the buy order price is set based on a buy contract price for a previous buy order and order interval information indicating an interval from the buy contract price preset by the user.

4. A processing device as described in claim 1, wherein the buy order is placed at a predetermined buy order price.

5. The processing device according to claim 1 , wherein the order evaluation information is evaluated based on a margin maintenance rate of an account used for a margin set for the buy order or a balance of the margin.

6. The processing device of claim 1 , wherein the buy order is a limit order.

7. Computer, receiving order setting information for setting a first condition for permitting a buy order from a terminal device usable by a user by accepting an operational input by the user for a financial product with a fluctuating market price; Calculating a reference price based on the buy order price and the sell order price for the financial product at any point in time; determining whether the reference price calculated at the arbitrary time satisfies the first condition set by the order setting information in order to enable a buy order for the financial product; permitting the purchase order to be placed if the purchase order satisfies a second condition different from the first condition; It acts as a processor for the reference price is an average of the buy order price and the sell order price; the first condition includes the reference price reaching a purchase order price set for a purchase order; the second condition includes a condition related to order valuation information being valuated based on the market price rather than the reference price calculated for the first condition; Processing program.

8. A processing method executed by at least one processor in a processing device having at least one processor, comprising: receiving order setting information for determining a first condition for permitting a buy order from a terminal device usable by a user by accepting an operational input by the user for a financial product with a fluctuating market price; calculating a reference price based on a buy order price and a sell order price for the financial instrument at any time; determining whether the reference price calculated at the arbitrary time satisfies the first condition set by the order setting information in order to enable a buy order for the financial product; allowing the purchase order to be placed if the purchase order satisfies a second condition different from the first condition; Including, the reference price is an average of the buy order price and the sell order price; the first condition includes the reference price reaching a purchase order price set for a purchase order; the second condition includes a condition related to order valuation information being valuated based on the market price rather than the reference price calculated for the first condition; Processing methods.

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