JP2004287893A - Order placement device, order placement method and program - Google Patents

Abstract

<P>PROBLEM TO BE SOLVED: To dispense with a customer's frequent checks on stock price trends at a terminal. <P>SOLUTION: An order placement device 100 comprises a first condition determination part 150 for determining whether a quotation state in a securities market meets first conditions or not, a second condition determination part 160 for determining whether the securities market quotation state meets second conditions or not when the first conditions are met, and an order placement part 170 for placing a trading order for securities when the second conditions are met. The second condition determination part 160 determines whether the second conditions are met or not at a frequency higher than the determination frequency of the first condition determination part 150. <P>COPYRIGHT: (C)2005,JPO&NCIPI

Description

[0001]
TECHNICAL FIELD OF THE INVENTION
The present invention relates to an order placing device, an order placing method, and a program. In particular, the present invention relates to an order ordering apparatus, an order ordering method, and a program that perform ordering processing of a securities trading order when a plurality of preset conditions are satisfied.
[0002]
[Prior art]
The trading prices of securities traded in the market, for example stocks and bonds, are constantly fluctuating. Also, the transaction price may fluctuate rapidly. Conventionally, in order to buy and sell stocks and bonds under desired conditions, a person who places a trading order frequently monitors the price movement of stocks and bonds to be traded on a terminal screen (for example, see Patent Document 1). ).
[0003]
[Patent Document 1]
[Patent Document 1] International Publication No. 01/88895 Pamphlet
[Problems to be solved by the invention]
When a screen for frequently confirming the transaction price is displayed on the terminal, a load is applied to the terminal. This makes it difficult for the terminal to perform other operations.
[0005]
Therefore, an object of the present invention is to provide an order placing apparatus, an order placing method, and a program which can solve the above-mentioned problems. This object is achieved by a combination of features described in the independent claims. The dependent claims define further advantageous embodiments of the present invention.
[0006]
[Means for Solving the Problems]
That is, according to the first aspect of the present invention, there is provided an order ordering apparatus for ordering securities in the market, the method for determining whether the transaction state of the securities in the market satisfies the first condition. (1) a condition determining unit, a second condition determining unit that determines, when the first condition is satisfied, whether or not the subsequent transaction state of the security in the market satisfies the second condition, and a second condition. And an order placement unit that performs an ordering process for a securities trading order when is satisfied.
In the order ordering apparatus, the second condition determination unit may determine whether the second condition is satisfied at a frequency higher than the frequency of determination by the first condition determination unit.
[0007]
The first condition determining unit may treat the transaction price of the security as a transaction state, and determine whether the transaction price has reached a predetermined price as the first condition.
In this case, the second condition determination unit treats the transaction price of the security as the transaction state, and the difference between the current transaction price and the past transaction price is within a range of a predetermined value as the second condition. It may be determined whether or not. Further, in this case, when the order is a purchase order for securities, the second condition determination unit determines that the current transaction price is higher than a past transaction price by a predetermined value or more as a second condition. Conditions may be used. Further, the order placing apparatus further includes an input screen display section for displaying an input screen for the order and the second condition on the user interface, and the input screen display section displays the second screen when a buy order is input as an order. As an initial setting value of the condition, a condition that the current transaction price is higher than the past transaction price may be selected, and the condition may be displayed so as to be changeable on the user interface. The second condition determining unit uses a condition that the current transaction price is lower than a past transaction price by a predetermined value or more as a second condition when the order is a sell order for securities. You may. Further, the order placing apparatus further includes an input screen display unit for displaying an input screen of the order and the second condition on the user interface, and the input screen display unit displays the second screen when the sell order is input as the order. The condition that the current transaction price is lower than the past transaction price may be selected as the initial setting value of the condition, and the condition may be displayed so as to be changeable on the user interface.
[0008]
The ordering unit performs ordering processing of a securities trading order on condition that both the first condition and the second condition are satisfied.
[0009]
According to a second aspect of the present invention, there is provided an order placing method for placing an order for securities in a market, wherein a computer determines whether or not a transaction state of the securities in the market satisfies a first condition, If the computer determines that the first condition is satisfied, the computer determines whether the subsequent trading status of the security in the market meets the second condition, and the computer determines whether the second condition is satisfied. If the computer is determined to be satisfied, the computer provides an order ordering method for executing an ordering process for a trading order for securities.
[0010]
A third embodiment of the present invention is a program for causing a computer to place an order for securities on the market, and asks the computer for whether or not the transaction state of the securities on the market satisfies the first condition. A function for causing the computer to determine whether or not the subsequent transaction state of the security in the market satisfies the second condition when the computer determines that the first condition is satisfied; A program is provided for realizing, when the computer determines that the order is satisfied, a function of performing an order processing of a trading order of securities.
[0011]
Note that the above summary of the present invention does not list all of the necessary features of the present invention, and a sub-combination of these features may also be an invention.
[0012]
BEST MODE FOR CARRYING OUT THE INVENTION
Hereinafter, the present invention will be described through embodiments of the invention. However, the embodiments do not limit the invention according to the claims, and all combinations of the features described in the embodiments are solutions of the invention. It is not always necessary for the means.
[0013]
FIG. 1 is a diagram illustrating a use environment of an order placing apparatus 100 according to an embodiment of the present invention. The order ordering apparatus 100 is, for example, a computer device managed by a securities company, and receives order data of securities from a branch terminal 30 of the securities company via a dedicated line. Further, it receives order data of securities such as stocks and bonds from a customer terminal 20 managed by the customer via a communication network 10 such as the Internet. The order data received here includes a first condition that the securities must satisfy in the market, and a second condition that starts checking on condition that the first condition is satisfied. The first condition and the second condition are, for example, a trading state of a security to be traded in a market, for example, a market price such as a trading price and a trading volume per unit time, and a PER (stock price) calculated using these. This is a condition for an index for investment decision, such as a rate of return or PBR (stock price / net asset ratio).
[0014]
When the first condition is satisfied, for example, when the transaction price reaches a certain value, the order ordering apparatus 100 determines whether or not the second condition is satisfied, for example, only when the transaction price is a certain value compared to the previous day. Determine if it has moved up or down. Then, when the second condition is satisfied, the order processing is performed, and the order data is transmitted via the dedicated line to the market apparatus 40 that actually performs the processing for matching the buy order and the sell order. .
As described above, using the order ordering apparatus 100, a person who places a trade order does not need to constantly display the movement of the trading state on the terminal, and can perform the trading order when the trading state of the securities shows a desired movement. Can be ordered. Therefore, the customer terminal 20 and the branch terminal 30 can be used for purposes other than displaying the movement of the transaction state.
[0015]
FIG. 2 is a block diagram showing a configuration of the order placing apparatus 100. The order placing apparatus 100 includes an input screen display unit 110, a customer account database 120, an order receiving unit 130, an order database 140, a first condition determining unit 150, a second condition determining unit 160, and an order placing unit 170. The first condition determination unit 150 has a company database 155.
[0016]
The input screen display unit 110 causes the customer terminal 20 and the branch terminal 30 serving as user interfaces to display an input screen for inputting a transaction order. The customer account database 120 manages information necessary for trading securities for each customer. The customer account database 120 stores, for example, data indicating the brand, quantity, and acquisition price of securities held by the customer, and the amount of money to be used for purchasing the securities. The order receiving unit 130 receives the order data input via the input screen from the customer terminal 20 and the branch terminal 30. Then, the order receiving unit 130 determines whether or not the transaction is possible by collating with the customer account database 120. If an order is possible, an order ID is issued and stored in the order database 140 together with the order data. The order data stored here includes the first condition and the second condition for executing the order placing process.
[0017]
The first condition determination unit 150 receives information such as the transaction price and transaction volume (eg, trading volume) of securities from the transaction market device 40 periodically, for example, every 10 seconds. Then, using the transaction price, the transaction quantity, and the information stored in the company database 155, it is periodically determined whether or not the first condition of any order is satisfied. In addition, the company database 155 stores data indicating the profit amount of the company that is the issuer of stocks and bonds, and the asset amount of the company. For this reason, the first condition determination unit 150 can calculate PER and PBR when PER and PBR are specified as the first condition.
[0018]
The second condition determination unit 160 receives information such as a transaction price and a transaction quantity (for example, trading volume) of securities from the transaction market device 40 periodically, for example, every 10 seconds. Then, it is determined whether the second condition is satisfied with respect to the order data determined by the first condition determining unit 150 that the first condition is satisfied. The ordering unit 170 performs an order ordering process on the order data determined by the second condition determination unit 160 that the second condition is satisfied, and transmits the order data to the exchange apparatus 40.
[0019]
Thus, the order placing apparatus 100 determines whether only the order data satisfying the first condition satisfies the second condition. Therefore, the load on the order placing apparatus 100 for operating the second condition determining unit 160 is reduced.
[0020]
FIG. 3 is an example of an input screen displayed on the customer terminal 20 or the branch terminal 30 by the input screen display unit 110. The input screen display unit 110 includes a column for inputting a customer ID, a column for inputting information (for example, a brand name and a security code) for specifying securities to be traded, a column for inputting a sell order or a buy order, an order price, A column for specifying any of the market orders, a column for inputting the order quantity, a column for inputting the item of the first condition and the specific condition of this item, and an item for the second condition and the specific condition of this item Display the input field.
[0021]
The items of the first condition are, for example, the transaction price in the market of the security to be ordered, the transaction volume per unit time (for example, on the day), PER, or PBR. The specific condition of the first condition is, for example, a specific numerical value in each item. When the item of the first condition is a transaction price, the specific condition is a closing price of the transaction price or a current value of the transaction price.
As described above, the order placing apparatus 100 can handle a plurality of types of first orders.
[0022]
The item of the second condition is, for example, the transaction price in the market of the security subject to the order. A specific condition of the second condition is, for example, that the current transaction price is within a predetermined range with respect to the closing price before the date specified by the customer. More specifically, the current transaction price is higher than the price specified by the customer or lower than the price specified by the customer with respect to the closing price before the date specified by the customer. The specific condition of the second condition may be, for example, a condition that the current transaction price is higher or lower than the closing price before the date specified by the customer.
Thus, the order placing apparatus 100 can deal with a complicated second order.
[0023]
FIG. 4 is a table showing an example of the data configuration of the order database 140. The order database 140 shown in the figure includes an order ID issued by the order receiving unit 130, a customer ID held in the customer account database 120, a security stock ID, information indicating whether a sell order or a buy order, an order price, The order quantity, the first condition, and the second condition are managed in association with each other. Therefore, by receiving the order ID from the first condition determining unit 150, the second condition determining unit 160 can determine which order has satisfied the first condition based on the order ID. By receiving the order ID from the second condition determining unit 160, the ordering unit 170 can determine which order the second condition is satisfied based on the order ID.
[0024]
FIG. 5 is a table showing an example of the data configuration of the company database 155. The company database 155 shown in the figure stores data indicating each of the stock ID, stock profit or expected profit, stocks issued, net assets, PER, and PBR of the stock issuing company. I do. The PER is calculated by the first condition determining unit 150 by dividing the profit amount or the expected profit amount by the number of issued shares and dividing the stock price by the value. The PBR is calculated by the first condition determining unit 150 by dividing the net assets by the number of issued shares and dividing the stock price by the value. If the company database 155 stores PER and PBR, and the first condition determination unit 150 updates PER and PBR when the closing price of the transaction price is updated, the first condition is calculated by calculating PER and PBR. The load applied to the determination unit 150 is smaller each time it is determined whether the first condition is satisfied as compared with the case where the PER and the PBR are calculated.
[0025]
FIG. 6 is a flowchart showing a procedure when the order placing apparatus 100 receives order data from the customer terminal 20 or the branch terminal 30. Upon receiving a request for an input screen from the customer terminal 20 or the branch terminal 30, the input screen display unit 110 transmits data for displaying the order input screen illustrated in FIG. An input screen is displayed (S10).
[0026]
Then, when order contents such as distinction between a sell order and a buy order, an order price, an order quantity, and the like are input (S20), the input screen display unit 110 determines whether the order is a buy order or a sell order (S30).
[0027]
If the order content is a sell order and the second condition that the current transaction price is lower than the previous day's closing price is set, the securities will be sold in the middle of the decline in the transaction price even if the sale price is lost due to the high price can do. In this case, the amount of reduction in the sales amount can be suppressed within a desired range. From this, in the case of a sell order, the majority of customers are expected to set, as the second condition, a condition that the current transaction price is lower than the closing price before the date specified by the customer.
Conversely, if the order content is a sell order and the second condition that the current transaction price is higher than the previous day's closing price is set, then even if the transaction price rises even if the purchase price is You can buy securities. In this case, the increase of the purchase price can be suppressed within a desired range. From this, in the case of a buy order, it is expected that the majority of customers will set, as the second condition, a condition that the current transaction price is higher than the closing price before the day specified by the customer.
[0028]
For this reason, when a sell order is input in a field for inputting a sell order or a buy order (S30: Yes), the input screen display unit 110 displays the current transaction as an initial setting of the specific condition of the second condition. A condition is set that the price is lower than the closing price before the day specified by the customer (S40). Conversely, when a buy order is input (S30: No), the input screen display unit 110 sets the current transaction price as the initial setting of the specific condition of the second condition to the closing price before the date specified by the customer. Is set (S50). By doing so, the number of data input by the customer is reduced. Accordingly, the time from when the input screen display unit 110 displays the input screen to when the order receiving unit 130 receives the order can be shortened.
[0029]
In addition, the customer terminal 20 or the branch terminal 30 may perform the operations of S30 to S50 based on the program transmitted from the order placing apparatus 100 to the customer terminal 20 or the branch terminal 30.
[0030]
When the first condition is input (S60) and the input and change of the second condition are completed (S70), the customer terminal 20 or the branch terminal 30 receives the order, the first condition, and the second condition. Is transmitted to the order placing apparatus 100 (S80).
[0031]
FIG. 7 is a flowchart showing the operation of the order placing apparatus 100 when performing the order processing. The first condition determining unit 150 determines whether the first condition is satisfied for any order data whenever the timing for determining whether the first condition is satisfied is reached, for example, each time the closing price of the transaction is determined (S100). It is determined whether or not the condition is satisfied (S110).
[0032]
When there is order data that satisfies the first condition (S110: Yes), the second condition determining unit 160 comes to a timing for determining whether the order data satisfies the second condition (S110: Yes). In S120), it is determined whether the second condition is satisfied (S130). Here, the first condition determining unit 150 does not determine the first condition for the order data for which the second condition determining unit 160 has determined the second condition.
Since the determination as to whether or not the second condition is satisfied is a determination as to whether or not to perform order placement processing for the order, the second condition determination unit 160 determines whether or not the first condition is satisfied. It is determined whether the second condition is satisfied more frequently than the determination, for example, every 5 minutes.
[0033]
Then, when there is order data satisfying the second condition (S130: Yes), the ordering unit 170 transmits the order data to the market apparatus 40 (S140).
As described above, the ordering unit 170 performs the ordering process of the transaction order on the condition that the first condition and the second condition are satisfied. That is, when only the first condition is satisfied, the order processing of the trading order is not performed. Therefore, when only the first condition is satisfied, there is no need to prepare order data for ordering.
If the second condition is not satisfied even after the predetermined period has elapsed, the second condition determination unit 160 may stop determining whether the second condition is satisfied. In this case, the operation of the order placing apparatus 100 returns to S100.
[0034]
As described above, the second condition may be confirmed more frequently than the first condition. Here, the order placing apparatus 100 determines whether or not only the order data satisfying the first condition satisfies the second condition. The first condition determining unit 150 does not determine the first condition for the order data for which the second condition determining unit 160 determines the second condition. Therefore, the load on the order placing apparatus 100 is reduced.
[0035]
FIG. 8 is a chart specifically showing when the order placing apparatus 100 processes a stock sell order. In this example, the acquisition price of the stock is 500 yen, and the order price is 700 yen. The first condition is that the stock price is 750 yen, and the second condition is that the price is 40 yen lower than the previous day's closing price.
[0036]
If the stock price continues to rise after buying the stock, in the figure T _1, stock prices will be 750 yen. At this point, the shares meet the first condition. However, stock prices continue to rise and do not meet the second condition. For this reason, the order placing apparatus 100 does not place an order to sell stock.
Then, the stock price has fallen past the high price of 830 yen. Then, the stock price becomes 750 yen again (T _{2 in the} figure). Then, on the next day (T _{3 in the} figure), the stock price is reduced by 40 yen from the previous day's closing price, so a sell order of 700 yen is transmitted to the exchange apparatus 40. Therefore, the customer can place a 700 yen selling order before the stock price becomes 700 yen.
By using the order placing apparatus 100 in this way, the customer sells the stock in a state where the price has exceeded the high price and does not generate a certain amount of sale profit even if the customer does not always monitor the price trend using the customer terminal 20. Can be secured. Further, since the order placing apparatus 100 determines whether or not the second condition is satisfied from the time when the first condition is satisfied until the time when the second condition is satisfied. Need not be constantly monitored. Therefore, customer convenience can be improved.
[0037]
FIG. 9 is a chart specifically showing when the order placing apparatus 100 processes a stock buy order. In this example, the order price is 550 yen. The first condition is that the stock price is 500 yen, and the second condition is that the stock price is 40 yen higher than the previous day's closing price.
[0038]
When a customer stock after entering the order to the order placement apparatus 100 continue to fall, in the figure T _1, stock prices will be 500 yen. At this point, the stock satisfies the first condition. However, since the stock price continues to fall, it does not satisfy the second condition. For this reason, the order placing apparatus 100 does not place an order to sell stock.
Then, the stock price has risen past the bottom price of 400 yen. Then, the stock price becomes 500 yen again (T _{2 in the} figure). On the next day (T _{2 in the} figure), the stock price is 40 yen higher than the previous day's closing price, so a sell order of 550 yen is transmitted to the market apparatus 40. Thus, the customer can place a 550 yen selling order before the stock price becomes 550 yen.
By using the order placing apparatus 100 in this manner, the customer purchases stocks after the bottom price has passed, and does not buy the stocks at a certain low price, even if the customer does not always monitor the price trend using the customer terminal 20. Can be purchased. Further, since the order placing apparatus 100 determines whether or not the second condition is satisfied from the time when the first condition is satisfied until the time when the second condition is satisfied. Need not be constantly monitored. Therefore, customer convenience can be improved.
[0039]
Next, a modification of the order placing apparatus 100 will be described. In the present modified example, the order placing apparatus 100 previously receives a plurality of order placing conditions for a sell order or a buy order of the same brand. When one order condition becomes valid and an order is placed, the other order condition is automatically canceled.
FIG. 10 is a diagram illustrating an input screen displayed on the customer terminal 20 or the branch terminal 30 by the input screen display unit 110 in the present modification. As shown in the figure, the order ordering apparatus 100 receives a plurality of sets of the first condition and the second condition described in the above embodiment as order order conditions for a sell order or a buy order of the same brand. In the example shown in the figure, the order placing apparatus 100 receives three order placing conditions for a sell order of securities. In condition number 1, the first condition is that the transaction price is 1400 yen, and the second condition is not set. In condition number 2, the first condition is that the transaction price is 1100 yen, and the second condition is that the transaction price is lower than the previous day's close price. In condition number 3, the first condition is that the transaction price is 400 yen, and the second condition is that the transaction price is 70 yen lower than the previous day's close price. The order placing apparatus 100 can receive an order price for each order placing condition.
[0040]
FIG. 11 is a graph specifically illustrating the operation of the order placing apparatus 100 when the order illustrated in FIG. 10 is received.
In figure _{T 1,} the transaction price becomes 400 yen, the first condition is satisfied the condition number 3. However, stock prices have since risen and do not meet the second condition. Therefore, the ordering unit 170 does not perform the ordering process according to the condition number 3.
After that, although the stock price continues to rise, the high price is 1400 yen or less (T _{2 in the} figure), so the ordering section 170 does not perform the order processing of the condition number 1.
Then, the stock price becomes 1100 yen, which satisfies the first condition of the condition number 2. Since the stock price continues to fall thereafter, the second condition is also satisfied. Therefore, the ordering unit 170 performs an ordering process for the condition number 2. Then, processing for canceling the condition numbers 1 and 3 is performed.
[0041]
As described above, according to the present modified example, the customer can set a plurality of order order conditions in advance for a trading order of securities after assuming a plurality of scenes in advance.
Therefore, a person who places a transaction order does not need to always display the transaction price on the terminal. Therefore, the customer terminal 20 and the branch terminal 30 can be used for other purposes.
[0042]
In addition, a program for realizing the functions of the first condition determining unit 150, the second condition determining unit 160, the ordering unit 170, the order receiving unit 130, and the like is installed in the computer constituting the order ordering apparatus 100, and various operations are performed. You may be comprised so that it may be performed.
[0043]
As described above, the present invention has been described using the embodiment. However, the technical scope of the present invention is not limited to the scope described in the embodiment. Various changes or improvements can be added to the above embodiment. It is apparent from the description of the appended claims that embodiments with such changes or improvements can be included in the technical scope of the present invention.
[0044]
【The invention's effect】
As is clear from the above description, according to the present invention, a person who places a transaction order does not need to always display the transaction price on the terminal, so that the terminal can be used for other purposes. In addition, since the order placement device determines whether the second condition is satisfied from the first condition is satisfied until the second condition is satisfied, the customer changes the transaction state during that period. It is not necessary to constantly monitor. Therefore, customer convenience can be improved.
[Brief description of the drawings]
FIG. 1 is a diagram illustrating a use environment of an order placing apparatus 100 according to an embodiment of the present invention. FIG. 2 is a block diagram showing a configuration of the order placing apparatus 100. FIG. FIG. 4 is a table showing an example of a data configuration of an order database 140. FIG. 5 is a table showing an example of a data configuration of a company database 155. FIG. 6 is a diagram showing a case where the order placing apparatus 100 receives order data. FIG. 7 is a flowchart showing the operation of the order placing apparatus 100 when order processing is performed. FIG. 8 is a chart specifically showing when a stock sell order is processed. FIG. 10 is a diagram showing an input screen in a modified example. FIG. 11 is an chart showing an input screen according to a modification. Graph illustrating the operation in detail [Description of symbols]
100... Order ordering device, 110... Input screen display unit, 150... First condition judging unit, 160... Second condition judging unit, 170.

Claims (11)

An order placement device for placing an order for securities on the market,
A first condition determining unit that determines whether a transaction state of the securities in the market satisfies a first condition;
When the first condition is satisfied, a second condition determining unit that determines whether or not a subsequent transaction state of the security in the market satisfies a second condition;
An order ordering device comprising: an ordering unit for executing an ordering process for a trading order of the securities when the second condition is satisfied. The order placing apparatus according to claim 1, wherein the second condition determination unit determines whether the second condition is satisfied at a frequency higher than the frequency of the first condition determination unit. The first condition determining unit includes:
Treating the transaction price of the securities as the transaction state,
The order placing apparatus according to claim 1, wherein it is determined whether or not the transaction price has reached a predetermined price as the first condition. The second condition determination unit includes:
Treating the transaction price of the securities as the transaction state,
4. The order placing apparatus according to claim 3, wherein it is determined whether or not a difference between the current transaction price and the past transaction price is within a range of a predetermined value as the second condition. The second condition determining unit, when the order is a buy order for the securities, as the second condition, the current transaction price is a predetermined value or more with respect to the past transaction price. 5. The order placing device according to claim 4, wherein a condition of being high is used. The order ordering apparatus further includes an input screen display unit that displays an input screen for the order and the second condition on a user interface,
The input screen display unit, when a buy order is input as the order, selects a condition that a current transaction price is higher than a past transaction price as an initial setting value of the second condition. 5. The order placing apparatus according to claim 4, wherein said condition is displayed so as to be changeable on said user interface. The second condition determining unit, when the order is a sell order of the securities, as the second condition, the current transaction price is equal to or more than a predetermined value with respect to the past transaction price. 5. The order placement device according to claim 4, wherein the condition of low is used. The order ordering apparatus further includes an input screen display unit that displays an input screen for the order and the second condition on a user interface,
The input screen display unit, when a sell order is input as the order, selects a condition that a current transaction price is lower than a past transaction price as an initial setting value of the second condition. 5. The order placing apparatus according to claim 4, wherein said condition is displayed so as to be changeable on said user interface. The order ordering apparatus according to claim 1, wherein the ordering unit performs an ordering process on the trading order of the securities, on condition that both the first condition and the second condition are satisfied. An order placement method for placing an order for securities in the market,
A computer determining whether a trading state of the security in the market satisfies a first condition;
When the computer determines that the first condition is satisfied, the computer determines whether a subsequent trading state of the security in the market satisfies a second condition;
An order placing method, wherein when the computer determines that the second condition is satisfied, the computer performs order processing of a trading order of the securities. A program for causing a computer to place an order for securities on the market, the computer comprising:
A function of determining whether a transaction state of the securities in the market satisfies a first condition;
A function of, when the computer determines that the first condition is satisfied, determining whether or not a subsequent transaction state of the security in the market satisfies a second condition;
And a function of, when the computer determines that the second condition is satisfied, performing an order processing of a trading order of the securities.

Images