JP2003196480A - Order matching system and method in electronic commerce market - Google Patents

Abstract

<P>PROBLEM TO BE SOLVED: To heighten fluidity of commerce by activating establishment of contract in a commerce market. <P>SOLUTION: An order matching system is connected to a terminal of a dealing person concerned through a communication line, and provided with at least a dealing computer serving as functions of a matching means and matching system change control means. The dealing computer stores order information input from the terminal of the dealing person concerned in an order information storage means, and the matching means stores designated order information read out from the order information storage means to an affix information storage means to perform matching for the order information by a designated matching method, and stores the contract result as contract result information in a contract result storage means 1. A matching method change control means controls the change of the matching method of the matching means according to the contract result information stored in a contract result storage means and the matching method change condition stored in a matching method change condition storage means. <P>COPYRIGHT: (C)2003,JPO

Description

Detailed Description of the Invention

[0001]

TECHNICAL FIELD The present invention relates to an order matching system and method in an electronic trading market.

[0002]

2. Description of the Related Art Private stock and bond exchanges operate a market with a fixed order matching process.
However, there is a large difference in the number of orders placed regardless of the type of transaction subject to the time of day.

On the other hand, the order matching method includes, for example,
There are a method suitable for continuous arrival of orders, and a method of better processing after accumulating a certain number of orders when sporadic arrival. Further, there are cases where it is better to use a method in which a price deciding company presents transaction conditions such as price or rate.

As described above, in the current electronic market system, operation is carried out by fixing one method which seems to be most appropriate in accordance with the characteristics of the product.

[0005]

[Problems to be Solved by the Invention] Depending on the nature of the product,
It can be roughly divided into a market in which orders often arrive continuously on average, or a market in which orders arrive sporadically, and by selecting the most appropriate matching method depending on the nature of the product, To a certain extent, it is possible to operate the market that matches the product.

However, in products of any character,
Since it is inevitable that the number of orders will change depending on the time of day, there will be situations where the combination of the number of orders and the combination method is inappropriate.

[0007] In this way, if the combination of the number of orders and the combination method is inappropriate, for example, all the trading parties will wait and wait, so that no one will place an order and the market will stagnant. Or, if orders are made all at once, contracts will be established at various rates and the market will fluctuate, resulting in problems such as lack of stability in the market.

In order to solve this problem, for example, in the stock exchange market, a method for switching the matching method is determined by previously determining a matching method at the market start time and a matching method after a lapse of a certain time after the market starts. Has been taken.

However, even in this method, since the fixed matching method is switched based on the past market trend, there is no guarantee that the appropriate matching method is applied according to the transaction situation.

Further, the selection of the garnishing method is decided by the market operator, but the market participants desire that their order be fulfilled regardless of the garnishing method. Therefore, we hope that the matching method, which is most likely to be successful at that time, will be applied in the market. It can be said that liquidity will be enhanced if the matching method is flexibly changed according to the market situation.

An object of the present invention is to provide an order matching system and method capable of further increasing the liquidity of a transaction in view of the current situation in the electronic transaction market as described above.

[0012]

According to one aspect of the present invention, an order matching system in an electronic trading market includes a transaction processing computer connected to terminals of a plurality of trading parties via communication lines. The transaction processing computer has at least a function of realizing a matching means and a matching method change control means, and the transaction processing computer uses the order information inputted from the terminals of the respective trading parties as order information. Store in the storage means,
The matching means stores the predetermined order information read out from the order information storage means in the matching information storage means as cell data, performs a matching process of the order information as cell data by a predetermined matching method, and executes the contract. The result is stored in the contract result storage means as contract result information, and the matching method change control means stores the contract result information stored in the contract result storage means and the matching method change condition stored in the matching method change condition storage means. Based on the above, there is provided an order matching system characterized in that the matching method is controlled by the matching means.

According to one embodiment of the present invention, the gluing means comprises a plurality of gluing means capable of performing gluing in different gluing systems.

According to another embodiment of the present invention, the matching means comprises a general-purpose matching means combined with a parameter file storing definition information defining the particularities of a plurality of matching methods. The general-purpose matching means can perform matching in a plurality of matching methods based on the definition information stored in the parameter file.

According to yet another embodiment of the present invention,
The matching means is provided for each transaction object, and the modification method change control means identifies the matching means based on the identification information of each transaction object.

According to yet another embodiment of the present invention,
Each of the gluing means comprises a plurality of gluing means capable of performing gluing in different gluing methods.

According to yet another embodiment of the present invention,
Each of the gluing means comprises a general-purpose gluing means combined with a gluing method definition file storing definition information defining a plurality of peculiarities of the gluing method, and the universal gluing means is the gluing method definition file. It is possible to carry out matching in a plurality of matching methods based on the definition information stored in.

According to yet another embodiment of the present invention,
The matching means comprises a set of matching means for matching a plurality of transaction objects, and the matching method management means is associated with the pair of matching means. Based on the identification information, the ordering information is controlled by which matching means is processed.

According to yet another embodiment of the present invention,
The matching means is composed of a plurality of matching means of different matching methods that can be simultaneously selected for one transaction object, and the plurality of matching means is associated with the interlocking management means. Interlocking information indicating that a plurality of matching means are selected at the same time for one transaction target is stored, and an operation is performed so as to prevent duplicate execution of contracts by the selected plurality of matching means.

According to yet another embodiment of the present invention,
The combination method change condition stored in the combination method change condition storage means is a change by schedule, a change by flow rate management, or a change by setting condition.

According to another aspect of the present invention, in an order matching method in an electronic trading market, at least a matching means and a matching method are provided by a transaction processing computer connected to terminals of a plurality of trading parties via communication lines. When the order information is input from the terminals of the trading parties by realizing the function of the change control means, the order processing is stored in the order information storage means using the transaction processing computer, and the matching means is executed. Then, the predetermined order information read from the order information storage means is stored in the combination information storage means as cell data, and the order information as cell data is combined by a predetermined combination method, and the contract result is displayed. The contract result information is stored in the contract result storage unit, and the matching method change control unit is operated to store the contract result information. An order matching method characterized by causing the matching means to control the modification of the matching method based on the execution result information stored in the result storage means and the matching method change condition stored in the matching method change condition storage means. Will be provided.

According to still another aspect of the present invention, there is provided a computer-readable recording medium recording a program for causing a computer to function as the order matching system as described above.

According to still another aspect of the present invention, there is provided a program for causing a computer to function as the order matching system as described above.

[0024]

BEST MODE FOR CARRYING OUT THE INVENTION Next, the present invention will be described in more detail with reference to the accompanying drawings with regard to the embodiments and examples of the present invention.

Before explaining the configuration and operation of the embodiment of the order matching method and system of the present invention, a matching method in the trading market will be described. As an order matching method adopted in the trading market,
There are roughly the following four methods. In the present invention,
The present invention is not limited to these matching methods, and if a new matching method may be proposed in the future, the order matching method and system of the present invention will provide such a newly proposed matching method. Therefore, the present invention does not limit the types and the number of these attachment methods. (1) Zaraba system The Zaraba system is a method of concluding a sales contract that is continuously and individually performed during the trading session after the opening price (the contract price at the start of the trading session) is determined. Zaraba refers to continuous trading between the opening price and the closing price (the contract price at the end of the trading session). (2) Itayose method The Itayose method is a method of concluding a sales contract when determining the opening price, closing price, etc. This method is a method in which, after accumulating orders, it is determined whether or not the contracts are satisfied according to the priority order, and the contracts are satisfied. (3) Market make method In this method, a securities company that can make a market (market maker) always presents a sell and buy quotes for a stock (market make stock) that is the target of market make, and the It is a method of buying and selling based on the price. (4) Crossing method This method is a method of trading at a price determined by a public exchange, and is particularly suitable for use in night trading.

Next, an outline of a system for carrying out the order matching method in the electronic trading market of the present invention will be described.

FIG. 1 of the accompanying drawings schematically shows the overall configuration of a system for carrying out the present invention. As shown in FIG. 1, the present invention is applied to a so-called electronic market system in which trading of stocks, bonds, commodities, etc. is performed using a computer system, and matching of order information input from trading parties is performed. The transaction processing computer 1 for executing and executing a contract is provided, and the transaction processing computer 1 is connected via a communication line 2 to a terminal device 3 used by a transaction party. Here, the communication line 2 is not limited to a wired communication line such as a public line and a dedicated line, but includes a connection by a wireless communication line and the like.

FIG. 2 is a block diagram showing the functions of the transaction processing computer 1 in the order matching system as one embodiment of the present invention, by means of means and by associating the means with each other. The configuration and function of each means will be sequentially described below with reference to the block diagram of FIG. (1) Order information storage means The order information storage means 11 is means for recording the order information transmitted from the terminal 3 of the trading party. Usually, it is configured by an auxiliary storage device such as a hard disk device, and the software controls the storage, reading, erasing, and correction of order information. The order information storage means 11 can be realized by an auxiliary storage device built in the transaction processing computer 1, but when handling a large amount of order information, an external auxiliary device connected to the transaction processing computer is used. It can also be configured with a storage device. In addition, control of order information, using existing database software,
It can also be done efficiently.

(2) Matching information storage means The matching information storage means 12 is means for reading out the order information necessary for matching orders from the order information storage means 11 and storing it in a state in which matching processing is possible. A hard disk that can be accessed at high speed can be used as the matching information storage means 12, but in this embodiment, the matching information storage means 12 is provided in a memory space that can be accessed at higher speed. The arrangement of individual data in the memory space does not matter, but logically, as illustrated under the matching information storage means 12 in FIG. 2, opposing (for example, “sell” and “buy”) orders. However, for example, it is preferable that they are formed in a plate shape with a transaction rate sandwiched therebetween. Here, this plate-shaped logical structure will be referred to as a “plate”. In this plate, one order information is defined as one cell, and the order information is managed in the memory space in units of this cell.

(3) Matching Means The matching means 13 is means for matching the order information on the basis of the information stored in the matching information storage means 12, and is realized by processing by software. The predetermined order information read from the order information storage means 11 is stored in the side information storage means 12 by the attachment means 13 as cell data. At this time, the arrangement of cell data may differ depending on the attachment method. The matching unit 13 performs a matching process of order information as cell data arranged on the board by a predetermined matching method, and when a contract is established, executes a contract establishment process. The term "matching" as used herein refers to verifying the possibility of fulfillment of order information of the opposite type based on a predetermined fulfillment condition. As a result of this matching, if it is possible to execute a contract, you may automatically execute the contract conclusion process, or notify the trading party who entered the order information that the contract can be executed and confirm or approve the trading party. The contract conclusion processing may be performed after waiting for the input. Furthermore, when the parties to the transaction set to negotiate, the negotiation process may be performed instead of the contract conclusion process.

According to the type of the joining method, the joining means 13 is, in the embodiment illustrated in FIG. 2, the joining means 13A for the plate shifting method and the joining means 13 for the zara method.
B, a plurality of independent attaching means such as a market making method attaching means 13C and a crossing method attaching means 13D.

However, the present invention is not limited to this, and it is also possible to use a fitting means as illustrated in FIG.
In the modified example of FIG. 3, for example, one general-purpose gluing means 130 is prepared, and the peculiarities of the gluing method such as the board-aligning method, the roughing method, the market making method, and the crossing method are defined by parameters. A parameter file 131 storing information is prepared, and a plurality of matching methods are realized by one general purpose matching means 130 based on the definition information. In addition, in FIG. 3, only one parameter is shown for one gluing method, but, for example, depending on the transaction target, the method of iterating may differ depending on the “boarding method”. It is preferable that a plurality of parameters are prepared for one method, and that each transaction target can be arbitrarily selected.

Further, in FIG. 2, a plurality of joining means 13 are provided.
Although one set of associating means 13 in which A to 13D are set is used, it is not always necessary to make a set, and each may be prepared as an independent assembling means.

To briefly explain the piecing operation by such piecing means, for example, in the case of piecing by the board shifting method, the order information read from the order information storage means 11 is "board shifting." It is stored in the side information storage means 12 as cell data based on a predetermined rule by the side method "side matching means 13A. The matching means 13A matches the order information stored in the matching information storage means 12 as the cell data according to a predetermined rule.

(4) Execution Result Storage Means The execution result storage means 14 is a means for enabling the attachment by the attachment means 13 and storing the execution result (contents) when the execution fastening processing is performed. . The contract result storage means 14 may be realized by providing a storage area on the hard disk, or may be realized by providing a storage area in the memory space if the memory has a margin. (5) Matching method change condition storage means The matching method change condition storage means 15 is a means for storing conditions for changing the matching method. In the system of this embodiment, the matching method is independently controlled for each transaction object or transaction object type. For example, assuming a transaction market system of financial products, the matching method according to the character of each financial product is controlled independently for each financial product. Of course, it is also considered to control a combination method for each type, in which a plurality of financial products of the same type are integrated. Therefore, the matching method change condition storage unit 15 is configured to be able to store the matching method change condition for each specific transaction object or transaction object type. The matching method changing conditions referred to here include, for example, a changing schedule of the matching method arbitrarily set according to the characteristics of the transaction target, the flow rate of the order, the execution status of the contract, the contract amount, etc. Not limited.

(6) Matching method change control means The matching method change control means 16 is the contract result storage means 1
4 is a means for changing the combination method of a specific transaction object or transaction object type according to a predetermined condition defined in the combination method change condition storage means 15 while monitoring the execution result information and / or the combination information storage means 12. is there. The matching method change control means 16 is realized by controlling each means by software.

An example of changing the matching method is as follows. In the present embodiment, the market operator sets a change schedule of the matching method for a specific product in advance based on the transaction characteristics of the product.
This setting can be in hours or minutes, or in the morning or afternoon. Garment method changing means 16
In principle, the change control of the attachment means 13 is performed so that the attachment method determined by the schedule is used.

In the present embodiment, in addition to the schedule, the execution status, the order status, and the indicative price information are further monitored. For example, the attachment method change control means 16 detects, at predetermined time intervals, a contract constant established within the time based on the information stored in the contract result storage means 14, and the contract constant is smaller than the predetermined quantity or the contract quantity. When it is determined that the number of established contracts has decreased, the matching means 13 is controlled so as to change to a matching method in which contracts are more easily established. On the other hand, when the number of contracts established is larger than a predetermined number and the shake is suddenly swung in one direction, the change control of the combination means 13 is performed so as to change the combination method to suppress the execution of contracts from the meaning of setting the cooling period. Has been done. Further, the matching method change control means 16 detects the order status and the indicative price information in the market based on the information in the matching information storage means 12 every predetermined time, and when the number of orders is less than the predetermined quantity, or When the indicative price in the opposite order such as “sell” or “buy” exceeds a predetermined range, the matching means 13 is changed to a matching method in which a contract can be more easily established.
To control.

Next, the modification of the fitting method by the fitting method change control means 16 will be described in more detail.

As an example, a case will be described in which the transaction target is the product A and the matching method change schedule is Itayose → Zaraba → Market make.

First, at the market start stage, since the matching method for the product A is "Itayose", the matching method change control means 16 detects the schedule and stores it in the order information storage means 11. The order information of the product A is added information storage means 1 according to the rule of "Itayose".
2 is stored as cell data. The order information that is sequentially input is stored in the order information storage means 11, and is added to the matching information storage means 12 sequentially by the matching means 13A. Subsequently, the matching means 13A evaluates the condition of the matching information storage means 12, and controls the order information that can be matched to execute the contract conclusion processing. While repeating such an operation, the gluing method change control means 16 changes the gluing means to the next gluing method, "Zaraba", when detecting that it is time to change the predetermined gluing method according to the schedule. To do.

Since there is no problem in the rule from the change from "Itayose" to "Zaraba" even if the situation of "Plate" is taken over as it is, "Plate" = the state of the combination information storage means remains the same, and the combination means Only changed. After that, the matching means 13B performs the matching process using the information of the matching information storage means 12 according to the rule of "Zaraba".

Subsequently, similarly, when it is detected that it is time to change the matching method from "Zaraba" to "market make" according to the schedule, the matching method change control means temporarily stops the matching processing by the matching means, The processing is changed to the market-making type tying means 13C.

Here, when changing from "Zaraba" to "Market make", there is a problem that the situation of "board" cannot be inherited as it is due to the difference in mutual rules. Therefore, the attachment means performs control to once clear the “plate” and newly generate the “plate” in which the cells are arranged by the market making method.

When clearing the "board", at that time,
It identifies and stores which order information was stored in the “board”. This is because the order information is added in advance with identification information capable of identifying the individual order information, and thus the identification information may be stored. It is more preferable that the identification code for identifying the matching method before the change and the individual order information are stored together with the arrangement information indicating where the cells are arranged as cells.

When the matching method of the matching means is changed, the order information is rearranged on the "board". The garnishing means 13C follows the rules of "market make"
Order information placed on the "board" when changing the garnishing method is specified by the stored identification information,
Rearranged on a "plate", and subsequently, the attachment means 13C,
Carry out garnishing according to market making rules.

Next, the change control of the matching method independent for each transaction object will be described. In the present invention, as described above, it is possible to control the change of the matching method for each transaction object or for each transaction object type in which a plurality of transaction objects are grouped together. As a result, in the same electronic market system, it becomes possible to apply a flexible matching method according to the characteristics of each trading object, the execution of the contract is promoted, and the market can be activated.

The process for changing the matching method for each transaction object will be described below with reference to two examples.
First, the first method is a method of providing a matching means for each transaction object. As a result, independent matching processing can be performed for each transaction object, and the matching method can be arbitrarily changed according to the nature of the transaction object. On the other hand, preparing means for performing the same role as many as the number of transaction objects becomes redundant when there are a plurality of means for performing the same combining method and its change.

FIG. 4 is a schematic diagram for explaining the first method. As shown in FIG. 4, the matching method change control means 16 is based on the identification information attached to each product, and the matching method change conditions of the product and the matching means 132A, 132B, 1 to be controlled.
32C, 132D ... 132X can be identified.

FIG. 5 is a schematic diagram for explaining a modified example of the embodiment of the first method shown in FIG. This Figure 5
The modified example shown in FIG. 3 is the same in that each product is provided with a fitting means, but a plurality of kinds of fitting means are not prepared for each product, but general-purpose fitting means 130A, 1
30B, 130C, 130D, ... 130X are prepared one by one, and a matching method definition file 17 storing information such as parameters defining the matching method is provided for the matching means and the parameters are used. By this, it is possible to control the change of the attachment method.

Next, the second method will be described. Figure 6
FIG. 8 is a schematic diagram for explaining the second method. As shown in FIG. 6, in the second method, the matching means 133 is provided with a matching method management unit 134. The function of the matching method management unit 134 may be independent of the matching means 133, or may be a function of the matching method change control means 16. In the present embodiment, a function of the matching means 133 will be described.

In this second method, a plurality of commodities are attached to each other by a set of attaching means 133. Therefore, the matching method management unit 134 functions to manage which product is currently specified by which matching method. The order information that is the target of the matching process is provided with identification information that can identify the product, and the matching method management unit 134.
Controls the ordering information to be processed by the matching means based on the identification information. The order information sent to the appropriate matching means is arranged as cell data on the "plate" of the product specified by the identification information, and the matching is performed.

The changing of the matching method by the matching method change control means 16 is realized by controlling information to the matching method management unit 134. By matching the change schedule of the garnish method or any change condition,
When it becomes necessary to change the matching method of a specific product, the matching method management unit 134 controls to change the matching method of the product.

According to this method, a set of joining means 1
Since it is sufficient to prepare 33, redundancy can be eliminated. There is a possibility that a plurality of products will be combined by the same combination method, but the performance of recent computer products has improved, and there is no concern that the combination process will be delayed.

Next, examples of changing conditions of the matching method according to the present invention will be listed. 1) Change by schedule 2) Change by flow rate management Change according to the situation or change of transaction flow rate (number of orders or order amount) 3) Change by setting conditions Based on a function that uses the number of orders, contract number, contract amount, etc. as an index Modification Next, a modification example of the matching method will be described. Figure 7
FIG. 9 is a diagram for explaining a modification example of a matching method.
In the modified example shown in FIG. 7, it is assumed that, for the product A, the processing is started by Itayose immediately after the start of the transaction according to the attachment schedule, and thereafter, the process is shifted to Itayose and Crossing. However, in the actual transaction situation, since the execution of contracts was not active, the matching method change control means 16 which detected the situation from the information of the contract result storage part 14 was previously defined in the matching method change condition storage means 15. Based on the matching change rule based on the traded amount, the matching change is not performed according to the schedule, and the iterative control is performed. Then, the matching method change control means 16, which has detected that the transaction amount satisfies the changing condition defined in the matching method changing condition storage means 15, changes the matching method to Zaraba based on a predetermined rule. After that, the change in transaction volume and the schedule are monitored, and control is performed to change to Itayose according to the schedule. The transition of the change of the actual matching method is shown in the lower diagram of FIG. 7.

In the above example, the schedule is set in advance, but the combination method is changed so as to promote the execution of the contract only by the order status and the transaction volume status without defining the schedule. You can also
Of course it is possible.

Next, another modification of the present invention will be described. In the above embodiment, one transaction target is
It is premised that one matching means = matching is performed only by changing the matching method. However, the trading parties are not interested in such a matching method,
It can be said that he is interested in making a contract. Since the execution of contracts depends on the tie-up method, if the parties to the transaction have no choice but to change the tie-up method, it will be difficult to complete the promise in the market where inappropriate conditions for changing the tie-up method are set. You will suffer disadvantages. Therefore, if it is possible to perform simultaneous matching processing using a plurality of matching change rules in the same market, it is possible to further increase the possibility of contract execution.
It is convenient.

In the modified example of the present invention in which the simultaneous matching process by the plurality of matching change rules can be performed, the trading parties can select a plurality of matching means when starting a transaction. Has been done. For example, a plurality of schedules may be prepared for one trading object so that trading parties can select one or both of them, or one trading object can be selected in the same electronic market system. Alternatively, the trading parties may be treated as if a plurality of trading markets are formed, and the trading parties may select either trading market or both trading markets.

When a trading party selects a plurality of matching means and inputs order information, the order information is stored in the order information storage means. At this time, the order data is stored together with the party identification information that can identify the trading party, the order identification information that can identify the order data, and the matching means identification information that specifies the matching means.

The order data is sent to the matching means. At this time, the transaction processing computer can specify an appropriate matching means based on the matching means identification information in the order information.

FIG. 8 shows a modification example as described above.
The case where two matching means, namely, "matching means 1" and "matching means 2" are selected is illustrated. As shown in FIG. 8, two matching means, "matching means 1" and "matching means 2", are prepared for the product A. In the order A1 for the product A, this "matching means 1" is prepared. And the matching by the two matching means of "matching means 2" is designated.

The information of the order A1 is sent to the "matching means 1" and the "matching means 2", respectively, and the matching processing is performed. At this time, the link management means 18 is provided for the order information of the order A1. Every time, the interlocking information indicating that the two matching means, "matching means 1" and "matching means 2", are selected,
Store in 8.

Here, by any of the joining means,
Once a deal is possible, it must be prevented from being duplicated by the other means of matching. Therefore, when the order information is in a contractable state, the matching means confirms with the link management means 18 about the linked matching means with respect to the order information. If there is no interlocking matching means, execute the contract processing,
If there is interlocking matching means, interlocking management means 18
Performs a process of interrupting or canceling the matching process of the order information in the linked matching means. Then, the contract processing is performed.

[0064]

According to the present invention, a matching method according to the current trading situation is always selected, and it is possible to activate the execution of contracts in the trading market and further enhance the liquidity of trading. You can

[Brief description of drawings]

FIG. 1 is a diagram schematically showing an overall configuration of a system for carrying out the present invention.

FIG. 2 is a block diagram showing the functions performed by a transaction processing computer in the order matching system as one embodiment of the present invention by means of means and by associating each means with each other.

FIG. 3 is a diagram for explaining a modified example of the fitting means used in the present invention.

FIG. 4 is a schematic diagram for explaining the first method of the present invention.

5 is a schematic diagram for explaining a modified example of the first method embodiment shown in FIG. 4. FIG.

FIG. 6 is a schematic diagram for explaining a second method of the present invention.

FIG. 7 is a diagram for explaining a modification example of the matching method in the present invention.

FIG. 8 is a diagram exemplifying simultaneous matching processing by a plurality of matching change rules in a modified example of the present invention.

[Explanation of symbols]

1 Transaction processing computer 2 communication lines 3 terminal devices 11 Order information storage means 12 Side information storage means 13 Garnishing means 14 Execution result storage means 15 Storage method change condition storage means 16 Garnishing method change control means 17 Garnishing method definition file 18 Interlocking management means 130 Garnishing means 131 Parameter file 133 garnishing means 134 134 Garment method management section

Claims (12)

[Claims] 1. An order matching system in an electronic trading market, comprising a transaction processing computer connected to terminals of a plurality of trading parties via communication lines, the transaction processing computer being at least a matching means and a matching means. The transaction processing computer stores the order information input from the terminal of each trading party in the order information storage means, and the matching means stores the order information. The predetermined order information read out from the storage means is stored in the combination information storage means as cell data, and the order information as cell data is combined by a predetermined combination method, and the contract result is used as contract result information. The combination method change control means stores the contract result storage means in the storage means. An order matching system, wherein the matching method is controlled by the matching means on the basis of the stored contract result information and the matching method changing condition stored in the matching method changing condition storage means. 2. The order matching system according to claim 1, wherein the matching means comprises a plurality of matching means capable of performing matching in different matching methods. 3. The combining means comprises a general-purpose combining means combined with a parameter file storing definition information that defines the peculiarities of a plurality of combining methods, and the general-purpose combining means stores in the parameter file. The order matching system according to claim 1, wherein matching can be performed by a plurality of matching methods based on the stored definition information. 4. The order matching system according to claim 1, wherein the matching means is provided for each transaction object, and the matching method change control means identifies the matching means based on identification information of each transaction object. . 5. The order matching system according to claim 4, wherein each of the matching means comprises a plurality of matching means capable of performing different matching methods. 6. Each of the matching means comprises a general-purpose matching means combined with a matching-method definition file that stores definition information defining the particularity of a plurality of matching methods, and the general-purpose matching means comprises: The order matching system according to claim 4, wherein matching in a plurality of matching methods can be performed based on the definition information stored in the matching method definition file. 7. The matching means comprises a set of matching means for matching a plurality of transaction objects, and the matching method management means is associated with the pair of matching means, and the matching method management means. The order matching system according to claim 1, wherein the order matching system controls which matching means should process the order information based on the identification information of each transaction target. 8. The matching means comprises a plurality of matching means of different matching methods that can be simultaneously selected for one transaction object, and the plurality of matching means is associated with an interlocking management means. The management means stores interlocking information indicating that a plurality of tie-up means are simultaneously selected for one transaction object, and operates so as to prevent duplicate execution of contracts by the selected plurality of tie-up means. The order matching system according to claim 1. 9. The combination method change condition stored in the combination method change condition storage means is a schedule change, a flow rate change, or a setting condition change. The described order matching system. 10. In an order matching method in the electronic trading market, at least the functions of the matching means and the matching method change control means are realized by a transaction processing computer connected to the terminals of a plurality of trading parties via a communication line. Then, when order information is input from the terminal of each trading party, using the transaction processing computer,
The order information is stored in the order information storage means, the combining means is used, and the predetermined order information read out from the order information storage means is stored in the combination information storage means as cell data. Execution processing of order information as cell data is performed, the execution result is stored as execution result information in execution result storage means, and the execution method change control means is executed to execute execution result stored in execution result storage means. An order matching method, wherein the matching method is controlled by the matching means based on the information and the matching method changing condition stored in the matching method changing condition storage means. 11. A computer-readable recording medium in which a program for causing a computer to function as the order matching system according to claim 1 is recorded. 12. A program for causing a computer to function as the order matching system according to any one of claims 1 to 9.