JP2003016269A - Automatic forward transaction system - Google Patents

Abstract

PROBLEM TO BE SOLVED: To provide an automatic forward transaction system for performing OCO(one cancel the other) ordering in forward transactions utilizing an information system such as Internet. SOLUTION: In this automatic forward transaction system, when order information from a truster terminal connected to the Internet contains two kinds of bid or counterbid orders to the same brand and when one bid or counterbid order is contracted, processing is performed to automatically cancel the other bid or counterbid order and the result is automatically distributed by electronic mail.

Description

Detailed Description of the Invention

[0001]

BACKGROUND OF THE INVENTION 1. Field of the Invention The present invention relates to a so-called OCO order (One Order) used in the futures market of the United States in futures trading using information systems such as the Internet.
Cancel the Other), that is, an automatic futures trading system that automates a system in which two limit or stop orders with different prices for one issue are placed at the same time, and when one of the issues is filled, the other is automatically canceled. Regarding

[0002]

2. Description of the Related Art A futures transaction is a transaction in which a seller and a buyer promise to deliver a stock at a contract price at the present time at a certain time in the future.

However, most of the futures transactions are
Payment is done on the way (this is called a partition) and profits are made with the difference, which is called difference payment. However,
There is always the risk that losses will occur if prices move against expectations.

[0004] For example, if a customer has an open position for futures of a certain future and wants to buy it back in the future, usually, if he / she wants to buy it as cheaply as possible, a certain price is designated (this is called a "buy limit"). However, if the market price is below the buy limit price, it may be executed, but if the price tends to rise and the loss expands if left untouched, the price at which it will be executed when it becomes above a certain price Is specified in advance (this is referred to as “buy stop loss”), and the contract is executed when the price exceeds the buy stop loss.

[0007] As described above, in order to avoid the risk of price fluctuations, an order form may be adopted in which an order for a buy limit and a buy stop is placed simultaneously for one issue.

[0006]

However, conventionally, if two orders as described above are made for one issue, a deposit for two orders (this is referred to as "consignment margin") is prepared. I needed it, and I couldn't if I couldn't afford it. Further, even if one order is filled and the other order is no longer needed, it is not canceled automatically, and if left unattended, there is a risk that a new fill will be established. In such a case, in order to avoid this, the person who places the order (hereinafter referred to as “consignor”) remembers it and the person who receives the order (hereinafter referred to as “commodity trader”) himself / herself. Either the method of contacting and canceling, or the method of canceling after receiving notification from the commodity trader had to be adopted, and the monitoring burden and processing effort on both sides became excessive.

The present invention has been made in view of the above-mentioned circumstances, and an object of the present invention is to perform a futures transaction using an information system such as the Internet. It is to provide an automatic futures trading system in which orders are placed at the same time, when one of them is filled, the other is automatically canceled and the result is automatically notified to the consignor by e-mail.

[0008]

The present invention relates to an automatic futures trading system using an information system such as the Internet. The above object of the present invention is an automatic futures trading system using the Internet, wherein the automatic futures trading is performed. The system includes a terminal connected to the Internet, a web server connected to the Internet, a database server, an intra server, a mail server, and an information server, and the terminal is a contractor for futures trading. Is to access the web server and input order information including entrustor information. The web server accepts the order of the entrustor, sends the order information to the database server, and places an order in the database server. Confirmation information that has been accepted is displayed. Is connected to the web server, stores the order information sent from the web server in the internal storage means, and determines whether or not the contract is established from the contract price information and the order information from the information system server, The order information and the established / not-established information are stored in the storage means in association with each other, and the intra-server aggregates the order information accumulated in the database server at a predetermined timing and informs the exchange. The mail server instructs the database server to perform the processing for determining whether or not the contract has been established at a predetermined timing. The mail server monitors the establishment / non-establishment information stored in the storage means of the database server. , If the existence or non-existence of information is confirmed, it will be automatically delivered to the contractor by e-mail. The information system server acquires the contract price information from an external information vendor, sends the contract price information to the database server, and displays the contract price information by accessing from the terminal. If the order information contains two types of limit or stop orders for the same issue, if one limit or stop order is filled, the other limit or stop order is automatically canceled. And the result is automatically distributed by e-mail. The invention according to claim 2 is an application of the automatic futures trading system according to the present invention particularly in commodity futures trading.

The invention according to claim 3 is an automatic futures trading system which enables orders from a mobile terminal (not shown).

[0010]

BEST MODE FOR CARRYING OUT THE INVENTION Embodiments of the present invention will be described below.
A description will be given with reference to the drawings.

FIG. 1 shows the overall configuration of the present invention, which is a business owner (commodity trader) 30 who conducts commodity futures trading as a business.
0 connects a web server 303, a mobile terminal web server 304 and a simulation server 305 to a barrier network connected via the Internet 200 and a router 301, and further connects the web server 303 and the mobile terminal web server 304. The simulation server 305 is also connected to a database network 306, and the database network 306 is further connected to a private network 308 via a security server 307. In addition, the barrier network 302 and the private network 308
Are directly connected via the security server 307.

On the other hand, in the private network 308, a database server 309, a mail server 310, an intra server 311, an information system server 312 and an in-house PC.
313 and futures trading accounting system host computer 3
14 are connected. Furthermore, the information system server 31
2 is connected to the external information vendor 400 via the router 301. In such a configuration, the customer (consignor) accesses the web server 303 from his / her terminal (consignor terminal) 100 via the Internet 200, and follows the instruction on the input screen displayed on the consignor terminal to trade the commodity futures. You enter the order and trade.

There are six types of orders in the system according to the present invention shown in Table 1 below.

That is,

[Table 1] Is.

Here, the buy limit price is a specified price for making a purchase contract when the market price is lower than the specified price, and contrary to the buy stop price, the market price is lower than the specified price. When is above, it is the specified price when making a purchase contract. In addition, the sell limit price is a designated price when a sell contract is executed when the market price is higher than the designated price,
On the contrary, the sell stop price is a designated price at the time of executing a sales contract when the market price becomes lower than the designated price. Such an order form is advantageous when the entrustor determines as follows. In other words, when the market price is moving within a certain range and it is predicted that the price will move away from the range in the future.

When the market price is moving within a certain range, and it is predicted that the price will move away from the range downward.

When the market price is moving within a certain range and it is predicted that the price will stay within the range as it is in the future.

When the market price is moving within a certain range and it is unknown whether it is up or down, but it is predicted that the price will move away from the range.

With regard to the trading position currently held, at the same time as setting the allowable loss level,
If you also want to set earning points.

From the above, it is convenient for a trader who mainly uses technical analysis, and is convenient for a trader who wants to set risk and return in advance because there is not much time to see the market price or the trader who manages risk. .

In FIG. 1, the web server 303 or 304 plays a role of receiving an order by displaying an order input screen on the display of the entrustor terminal (personal computer or mobile terminal) by access from the entrustor's personal computer or mobile terminal, respectively. Fulfill In addition, the simulation server 305
Is a simulation of profit and loss at that time from the contract price information and the order information received from the information vendor 400 via the information system server, and the result is displayed on the consignor terminal by access from the consignor terminal. is there. This allows the entrustor to determine whether to partition his open interest.

Further, the database server 309 stores the entrustor information and the order information sent from the web server in the internal storage means, and the intra server 311.
Execution processing is performed at a predetermined timing according to an instruction from.
When the order form is the above-mentioned OCO order, processing for automatically canceling the order of the person other than the executed order is performed. The contract price required for contract processing is acquired from an external information vendor via the information system server 312. The information server 312 is directly accessible from the entrustor terminal 100 via the Internet 200 so that the market information can be browsed.

The mail server 310 monitors the contract information stored in the storage means of the database server, and when the contract is established or not established, the mail server 310 automatically informs the entrustor of the fact by electronic mail.

The in-house PC 313 plays a role as an in-house client PC, and is for inquiring about the order status of the entrustor, canceling orders after the deadline, and forcibly executing the orders.

The host computer 314 is for creating forms to be shipped to customers and managing customer data.

FIG. 2 is a flow of a process from a customer (consignor) who wishes to trade commodity futures to input order information from a terminal connected to the Internet until a contract is established and an electronic mail is sent. It is a flowchart showing. Hereinafter, description will be given with reference to the drawings.

The consignor inputs the already registered ID code and password when accessing the web server 303. This is to identify the person.

Next, in step S201, an order is input. Specifically, first, in the case of a new order, the brand is selected and input from the pull-down menu on the brand selection screen of FIG. Next, the contract month is selected and input on the screen as shown in FIG. The term “contract month” here means the month in which the sales contract in the futures contract must be finally settled. Next, the screen shifts to the input screen of FIG. 5, and the number of sheets, trading category, execution condition, limit price, order section, expiration date are input. When these inputs are completed and the “execute / send” button is clicked, if the input method is correct, a reception content confirmation screen as shown in FIG. 6 is displayed. After the consignor confirms, when the execute / send button is clicked, the order is confirmed and the acceptance processing of step S202 is performed. On the other hand, in the case of a partition order, on the screen of FIG. 7, check the stock to be partitioned from the open positions,
Enter the number of partitions, limit price, order section, and expiration date. In the embodiment, a partition order is placed for "Tokyo Rubber" and "Tokyo IOM Soybean". When you click the Execute / Send button, the confirmation screen for the reception details shown in Fig. 8 is displayed.
If there is no mistake, the partition order is confirmed by clicking the execute / send button.

When the acceptance processing is performed in step S202, an electronic mail indicating that the acceptance has been made is automatically delivered to the entrustor in step S203.

Next, in step S204, a pre-order automatic deadline process for totaling the number of orders for each occasion is performed, and then a pre-order inquiry is performed in step S205. This means that the intra server 311 is a “sale” of the order stored in the storage means in the database server 309.
This is done in order to make a contract that can be executed and to place only the remaining orders on the commodity exchange.

Further, in step S206, the contract price information acquired from the information vendor 400 is loaded into the database server 309.

Here, it is determined whether or not the order is within the expiration date (step S207), if the expiration date has passed, the expiration processing is performed, and the result is automatically notified to the consignor by electronic mail. (Step S208). If it is within the expiration date, the contract price acquired in step S206 is compared with the upper limit value of the limit order price (or stop order price) (step S206).
209), if the contract price is higher, the contract execution process is performed (step S210), and the process corresponding to the lower limit price of the limit price is automatically canceled (step S2).
11). This is called OCO (One Cancel the Other) processing. The result is automatically notified to the entrustor by electronic mail in step S215. On the other hand, step S20
If the contract price is lower in step 9, step S21
In step 2, the contract price is compared with the lower limit price of the limit order price (or stop price), and if the contract price is lower, the contract execution process is performed (step S213), and the order corresponding to the upper limit value of the limit price is placed. Processing for automatically canceling is performed (step S214). The result is automatically notified to the entrustor by electronic mail in step S215. On the contrary, if the contract price is higher than the contract price in step S212, the contract is not processed and the result is automatically notified by e-mail (step S216). Orders that could not be filled are returned to step S204 to repeat the processing from there in order to compare with the filled price in the next occasion.

[0033]

[Effects of the Invention] For the entrustor, when two orders are placed at the same time, when either one is filled, the other must immediately cancel the other to prevent double fill. In that case, it is possible to save the trouble and the time of having to monitor the market price. In the automatic futures trading system according to the present invention, the computer system automatically cancels it, and the result is automatically reported by e-mail, thereby further enhancing the convenience of the entrustor.

On the other hand, for the commodity trader, since the automatic futures trading system automatically cancels the remaining orders, the labor and time can be saved. In addition, the system manages orders, and the execution of orders to the exchange and the execution of trade reports from the exchange are also sent and received directly to and from the exchange terminals, so there is an advantage that no human intervention is required. .

[Brief description of drawings]

FIG. 1 is a conceptual diagram showing a configuration of an automatic futures trading system of the present invention.

FIG. 2 is a flowchart of an automatic futures trading system according to the present invention.

FIG. 3 is an example of a stock selection screen when inputting a new order for a futures transaction according to the present invention.

FIG. 4 is an example of a contract month input screen for a new futures trading order according to the present invention.

FIG. 5 is an example of another condition input screen when inputting a new order for a futures transaction according to the present invention.

FIG. 6 is an example of a confirmation screen for accepting new orders for futures transactions according to the present invention.

FIG. 7 is an example of an input screen for a futures trading partition order according to the present invention.

FIG. 8 is an example of a futures trading partition order acceptance confirmation screen according to the present invention.

[Explanation of symbols]

100 entrustor terminal 200 Internet 300 trader in-house system 301 router 302 Barrier network 303 Web server 304 Web server (for mobile terminal) 305 Simulation server 306 database network 307 security server 308 Private network 309 database server 310 Mail server 311 Intra server 312 Information system server 313 In-house PC 314 Host computer 400 Information Vendor

Claims (3)

[Claims] 1. An automatic futures trading system using the Internet, wherein the futures automatic trading system includes a terminal connected to the Internet, a web server connected to the Internet, a database server, and an intra server. A mail server and an information system server are provided, and the terminal is used by a contractor of futures trading to access the web server and input order information including contractor information. An order is accepted, the order information is sent to the database server, and confirmation information indicating that the order is accepted by the database server is displayed. The database server is connected to a web server, The sent order information is stored in an internal storage means, and the information server The contract information is determined based on the contract price information and the order information, and the order information and the contract information are stored in the storage unit in association with each other, and the intra server is the database server. The order information accumulated in is aggregated at a predetermined timing and notified to the futures exchange, and at the same time, the database server is instructed to execute the processing for determining whether or not the contract has been established. The server monitors the establishment / non-establishment information stored in the storage means of the database server, and when the existence or non-existence of the information is confirmed, the server automatically delivers the information to the entrustor by e-mail. Yes, the information server acquires the contract price information from an external information vendor and sends it to the database server. In the case where the contract price information is displayed by the access from the terminal, if the order information of the consignor includes two types of limit orders or stop loss orders for the same issue, one limit price or An automatic futures trading system characterized in that when a stop order is filled, processing is performed so as to automatically cancel the other stop or stop order and the result is automatically delivered by e-mail. 2. The automatic futures trading system according to claim 1, wherein the futures trading is a commodity futures trading. 3. The automatic futures trading system according to claim 1 or 2, wherein the web server is a web server capable of accepting orders from a mobile terminal.