JP2007011814A - Foreign exchange transaction system - Google Patents

Abstract

<P>PROBLEM TO BE SOLVED: To provide profitable, safe and low-cost exchange transaction in online trade of foreign exchange and to attain operational convenience of an orderer (an investor). <P>SOLUTION: This foreign exchange transaction system has a central server 100 held by an exchange on foreign exchange margin trading, and an orderer terminal 300 operated by the orderer (investor) to carry out foreign exchange transaction through a broker registered in the central server. The central server 100 automatically input bids (buying prices) and offers (selling prices) provided by a plurality of marketed makers, extracts to obtain the most profitable price for the investor, and transmits the extracted value to the orderer terminal. <P>COPYRIGHT: (C)2007,JPO&INPIT

Description

  The present invention relates to a computer system for carrying out foreign exchange transactions, and more particularly, through a central server of an exchange for foreign exchange transactions and a trader operated by an orderer and registered in the central server. The present invention relates to a foreign exchange trading system in an exchange transaction for performing a foreign exchange transaction by an orderer terminal for performing a foreign exchange transaction.

  With the recent development of computer and communication technology, financial transactions such as foreign exchange transactions including foreign exchange margin transactions are performed via networks such as the Internet. Many financial transaction support systems for performing foreign exchange transactions using a transaction server and an orderer terminal have been proposed.

  Conventionally, foreign exchange transactions are different from stock transactions in which exchange transactions such as the Tokyo Stock Exchange account for the majority of trading value, and many of them are based on relative transactions by market participants. This relative transaction is conducted either directly or by an interbank (interbank) market where foreign exchange transactions are conducted between banks, and individual investors and institutional investors (hereinafter referred to as “individual investors”) and banks. The market is largely divided into two categories, which are exchange transactions through customers.

  Foreign exchange transactions at interbanks are basically transactions between banks, and because it is necessary to realize rapid transaction processing, there is a telephone line and a dedicated line between banks or between a bank and a currency broker. It is composed of a connected transaction support system.

  On the other hand, in the transaction between customers, individual investors and the like cannot directly conduct foreign exchange transactions with an interbank, and therefore, they carry out foreign exchange transactions with traders that handle foreign exchange transactions.

  Prior to the 1998 Foreign Exchange Act revision, non-foreign bank officials were not able to conduct foreign exchange transactions, so individual investors, etc., were allowed to exchange rates indicated to customers through foreign exchange official banks. For example, the bank puts a profit of 1 yen on the interbank rate, and if it is cash, the bank puts a profit of 3 yen on the interbank rate). On the other hand, a foreign exchange margin transaction has emerged as a new foreign exchange transaction as a result of the liberalization of foreign exchange transactions realized by the 1998 revision of the Foreign Exchange Law.

  This is a transaction in which individual investors, etc. can deposit a certain amount of margin from a trader to provide credit, and can conduct transactions several to several tens of times the margin. It is possible to conduct a large amount of transactions with a small amount of funds, and at an exchange rate closer to the interbank than the bank's market to customers.

  A number of systems via the Internet have been proposed as systems for such foreign investors to conduct foreign exchange transactions through a trader. For example, regarding foreign exchange margin trading, individual investors first access a trader server that conducts foreign exchange margin trades from their computers, etc., register personal information with the trader server, The trader performs credit examination processing based on the registered personal information.

  Then, if the creditor determines that the credit information of the individual investor conforms to the transaction conditions in the credit screening process, the business operator actually opens the account of the individual investor and deposits the margin money, Permits the start of foreign exchange margin trading.

  Thereafter, when an individual investor (orderer terminal) accesses a trader server held by the trader, the offer price (bit / offer) provided by the trader can be referred to, and based on this offer price Forex margin trading can be performed by sending a buy or sell order to a trader server.

In such a foreign exchange transaction, the transaction price presented to the individual investor by the trader is presented based on bit / offer information supplied from a plurality of market makers such as banks affiliated with the trader. Is. Therefore, for example, the transaction system of Patent Document 1 has been proposed from the viewpoint of ensuring the liquidity of transactions. In this system, when a trader server receives a sell / buy order from an individual investor or the like, a matching process between these orders and a plurality of offered prices provided by a plurality of market makers is performed to establish a foreign exchange transaction. It is a trading system.
JP 2004-21906 (paragraphs 0029-0040, FIGS. 6-8, etc.)

  However, since foreign exchange transactions including foreign exchange margin trading in the customer market are not exchange transactions (non-exchange transactions), there are the following problems especially for individual investors, etc. .

  1) Transactions with customers are, for example, for telegraphs, where the bank puts 1 yen profit on the interbank rate, and if it is cash, the bank puts 3 yen profit on the interbank rate. Has to conduct foreign exchange transactions, which is a costly transaction for individual investors.

  Furthermore, in foreign exchange margin trading, individual investors, etc. are presented with an exchange rate closer to the interbank than to the customer market, but they must trade at the transaction price presented by the trader. The transparency of is low. In other words, the transaction rate that the trader presents to individual investors, etc. is arbitrarily selected by the trader from the transaction rates presented by multiple market makers such as banks, in other words, individual investors, etc. The transaction rate presented in the above is calculated or selected by the trader based on the interbank transaction rate, so the transaction rate is easy to manipulate, and there may be cases where an unfavorable rate is presented to individual investors. .

  Furthermore, even though other market makers offer more advantageous transaction rates, they may or may not be able to present a favorable transaction rate to customers. The reliability of the transaction price is low.

  In addition, since the transaction rate presented to individual investors as described above is easily manipulated, a transaction rate that adds the transaction fee may be presented to individual investors, etc. There are cases where transactions cannot be performed at an appropriate transaction rate and transactions are performed in a very low transparency state.

  2) In foreign exchange transactions, including foreign exchange margin trading, bids (bids) and bids (offers) are displayed, but individual investors, etc., are not able to display the quantity that can be traded at that price. . Therefore, it is difficult for individual investors, etc. to know how much they can trade at that price, and it is difficult to know the current market situation, and the situation is extremely low in transparency. You may be forced to trade.

  In addition, since the trading volume of the transaction target currency is not disclosed, it is difficult to know the current market situation because it is difficult to grasp the market trend.

  3) In foreign exchange margin trading, the actual currency is not delivered within two business days after the transaction is completed, as in spot exchange trading, but payment is not made until the original transaction is counter-purchased. Since it is a forward exchange transaction in which the settlement date is the business day after the business day on which the counter-trading was made, adjustments for interest rate differences between currencies (swap interest rates, swap points) occur. However, in non-exchange transactions such as those mentioned above, this swap interest rate may be presented to individual investors, etc. in a manner that adjusts the profits of the traders. To reduce.

  4) In addition, since foreign exchange margin transactions conducted at stores are not exchange transactions, it is necessary for each trader to construct a foreign exchange margin transaction support system, and there are operational costs, labor costs, etc. Bulky, high transaction fees must be presented to individual investors.

  5) And, in the case of a foreign exchange transaction based on a relative transaction, if a business operator goes bankrupt, the default damage (credit risk) will be incurred by the customer who traded with the business operator. In particular, forex margin trading, there are problems from the viewpoint of protecting individual investors and the like when a plurality of traders have entered the foreign exchange trading market and the financial strength of these traders is low.

  6) Furthermore, in the conventional foreign exchange transaction support system, orders displayed on the orderer (investor) terminal at the bid price (bid), the bid price (offer), and the foreign exchange market where the quantity changes every moment. The operation screen and the order input method are not technically devised sufficiently, and there is room for improvement.

  In this regard, the foreign exchange trading system disclosed in Patent Document 1 attempts to improve the liquidity of transactions by matching a plurality of transaction rates presented by a plurality of market makers and order information. However, it does not solve the problems of conventional foreign exchange transactions as non-exchange transactions that have difficulties in transparency of swap points, non-display of tradeable quantities, fairness, etc.

  Accordingly, an exemplary object of the present invention is to realize a foreign exchange transaction system in which foreign exchange transactions including foreign exchange margin transactions are exchange transactions.

  Another exemplary object of the present invention is to facilitate the operation of an orderer (investor) in an exchange foreign exchange trading system composed of a plurality of computers.

  In order to solve the above problems, a first aspect of a foreign exchange trading system according to the present invention is a central server held by an exchange exchange trading and a transaction that is operated by an orderer and registered in the central server. A foreign exchange transaction system for performing foreign exchange transactions with an orderer terminal for performing foreign exchange transactions through a contractor, wherein the central server provides bids (buy bids) provided by a plurality of market makers And an offer (auction price) are automatically input, a value that provides the most advantageous price for the investor is extracted, and the extracted value is transmitted to the orderer terminal.

  In addition, the second aspect of the foreign exchange trading system according to the present invention includes a central server held by an exchange exchange trading company and a foreign trader operated by an orderer and registered in the central server. A foreign exchange transaction system for performing foreign exchange transactions with an orderer terminal for performing foreign exchange transactions, wherein the central server includes a plurality of bid information transmitted from each market terminal possessed by a plurality of market makers, and Transaction rate information generating means for receiving offer information and generating transaction rate information based on the received bit information and offer information, transmission means for transmitting the transaction rate information to the orderer terminal, and transmission from the orderer terminal And transaction means for performing transaction processing in accordance with the order information based on the transaction rate information.

  In addition, the third aspect of the foreign exchange trading system according to the present invention includes a central server held by an exchange exchange trading company and a foreign trader operated by an orderer and registered in the central server. A foreign exchange transaction system for performing foreign exchange transactions with an orderer terminal for performing foreign exchange transactions, wherein the central server is configured to send and receive information on open positions and purchases transmitted from each market terminal possessed by a plurality of market makers. It has a swap point processing means for receiving swap point information related to open interest information and calculating a swap point value based on the swap point information, and a transmission means for transmitting the swap point value to the orderer terminal. .

  In addition, the fourth aspect of the foreign exchange trading system according to the present invention includes a central server held by an exchange exchange trading company and a foreign trader operated by the orderer and registered in the central server. A foreign exchange transaction system for carrying out a foreign exchange transaction by an orderer terminal for performing a foreign exchange transaction and a transaction terminal possessed by a trader and connected to the central server, wherein the central server The customer management means that receives information on the margin of the orderer transmitted from the vendor terminal and stores the information on the margin in the storage means in the central server, and the margin according to the information browsing request from the orderer terminal Transmission means for transmitting information on the orderer terminal to the orderer terminal.

  The fifth aspect of the foreign exchange trading system according to the present invention is a foreign exchange transaction through a central server held by an exchange exchange trading agency and a trader who is operated by the orderer and registered in the central server. And a forex trading system for carrying out forex trading by means of an orderer terminal for performing a transaction, wherein the orderer terminal displays a bid / offer information that is transmitted from a central server and fluctuates in real time. And an order field for inputting various information about one order of the foreign exchange transaction and an order status field for displaying information on the current order status of the orderer are displayed in one screen. It is characterized by being.

  In addition, the sixth aspect of the foreign exchange trading system according to the present invention includes a central server held by an exchange exchange exchange and a foreign trader who operates the orderer and is registered in the central server. A foreign exchange transaction system for performing foreign exchange transactions with an orderer terminal for performing foreign exchange transactions, wherein bid / offer information transmitted from a central server and fluctuating in real time is displayed on the orderer terminal. And an order field for inputting various information about one order of the foreign exchange transaction are displayed in one screen, and the bid / offer information is displayed in the field for displaying the bid / offer information. The quantity that can be traded and the volume information of each transaction target currency are displayed.

  Further, the seventh aspect of the foreign exchange trading system according to the present invention includes a central server possessed by an exchange exchange exchange and a foreign trader operated by the orderer and registered in the central server. A foreign exchange transaction system for performing foreign exchange transactions with an orderer terminal for performing foreign exchange transactions, wherein bid / offer information transmitted from a central server and fluctuating in real time is displayed on the orderer terminal. And an order field for inputting various information about one order of the foreign exchange transaction are displayed on one screen, and when this bit / offer information is designated and operated by the input means of the orderer terminal The orderer terminal is controlled so that the value at that time is copied into the order column.

  According to the foreign exchange trading system of the first aspect, among the selling / buying prices offered by multiple market makers, the most advantageous value to the orderer such as an individual investor, Without being obtained, it is presented as it is to the orderer such as an individual investor from the exchange, so the transaction price is highly transparent and reliable, and it is possible to realize an advantageous and safe transaction for the individual investor etc. .

  In addition, according to the foreign exchange trading system of the second aspect, the orderer can place a trade order based on the trade rate information generated at the exchange, and can trade based on the trade order from the orderer. Because foreign exchange transactions are conducted at the place, it is possible to realize safe and highly transparent transactions for individual investors.

  In addition, according to the foreign exchange trading system of the third aspect, since the swap point value is determined based on swap point information on sell / buy-denominated balls provided by a plurality of market makers, the exchange, The traders do not gain profits, and the swap points are highly transparent and reliable, making it an advantageous and safe transaction for individual investors.

  In addition, according to the foreign exchange trading system of the fourth aspect, information on margins entrusted to traders by individual investors etc. is registered in the central server of the exchange, and is stored in the central server for individual investors etc. Registered margin information is presented. For this reason, an individual investor etc. can grasp | ascertain the margin margin entrusted to the trader clearly, and it becomes possible to protect assets, such as an individual investor appropriately.

  According to the foreign exchange transaction system of the fifth aspect, a field for displaying bid / offer information, an order field for inputting various information about one order of the foreign exchange transaction, and the orderer By displaying the order status column that displays information on the order status up to the present and the same screen, it is possible to grasp the buy / sell price in the market and information on the orderer at a glance. Orders can be entered only on the one screen without parallel display of the screens.

  Further, according to the foreign exchange trading system of the sixth aspect, the bid / offer information is displayed together with the quantity that can be purchased by the bid / offer in the column where the bid / offer information is displayed. As a result, it is possible to determine the amount of investment required for individual investors, etc., and to reasonably verify the market price.

  Further, according to the foreign exchange trading system of the sixth aspect, for example, the numerical value at that time, the currency, and the purchase and sale are copied and displayed in the order column by one click of the mouse. This facilitates the input operation when ordering.

  Hereinafter, embodiments of the present invention will be described in detail with reference to the drawings. FIG. 1 is a diagram for explaining the outline of a foreign exchange trading system to which the present invention is applied.

  As shown in FIG. 1, the foreign exchange transaction system of the present embodiment includes a central server 100 held by an exchange for foreign exchange transactions, and a communication line such as a predetermined communication line or the Internet. A trader terminal 200 and a server terminal 201 owned by a plurality of connected traders, and an orderer terminal 300 that is operated by an orderer such as an individual investor and accesses the central server 100 via a communication network such as the Internet. The central server 100 is connected to a market terminal (MM terminal) 400 owned by each market maker such as a bank via a predetermined communication line or a communication network such as the Internet.

  This foreign exchange trading system systematizes the competitive market maker system at exchanges for foreign exchange transactions, so that individual investors and other orderers provide bids (buy prices) provided by multiple market makers such as banks. From the information and offer (selling price) information, it is a system for realizing foreign exchange transactions at the most advantageous price for itself.

  Next, the central server 100 of the foreign exchange transaction system according to the present embodiment will be described in detail. FIG. 2 is a configuration block diagram of the central server 100.

  The central server 100 includes a central management server 110, an FX server 120 to which the trader terminal 200 and the orderer terminal 300 are connected via a communication network, and an MM server 130 to which the market terminal 400 is connected via a communication network. And an authentication server 140 that performs access authentication when an orderer terminal 300 such as a market terminal 400, a trader terminal 200, and an individual investor accesses the central server 100 of the exchange.

  The central management server 110 includes a communication unit 111 that communicates with the trader terminal 200, the orderer terminal 300, and the market terminal 400 via each server in the central server 100 and the network N, and the trader terminal 200 (and the orderer). The FX management unit 112 that manages the FX server 120 that provides the ASP function to perform the foreign exchange transaction for the terminal 300), and information such as bit information / offer information, swap point information, and the like as a central server of the exchange MM management unit 113 that manages the MM server 130 that provides the ASP function to the market maker provided to 100, and customers such as individual investors that are transmitted from the trader terminal 200 and stored in the database of the FX server 120 A customer management unit 114 that manages information (personal information, transaction condition information, etc.) is provided.

  Further, the central management server 110 transmits to the MM server 130 from a plurality of market terminals 400 and a transaction management unit 115 that manages transaction processing related to foreign exchange transactions based on the order information transmitted from the orderer terminal 300. Rate integration unit 116 that generates and manages one transaction rate information integrated from the bit information / offer information that has been generated, and swap point management that manages the swap point information transmitted from the plurality of market terminals 400 to the MM server 130 And an exchange database 118 for storing transaction information (order information, order history information, contract information, margin information, deposit / withdrawal information, market price information, swap point information, etc.) in foreign exchange transactions.

  And the exchange about the forex exchange of this embodiment is with respect to the trader (trader terminal 200) registered in the FX database 121 of the FX server 120 in order to participate in this forex trading system. An ASP function is provided to perform foreign exchange transactions in exchange transactions. The FX database 121 also stores display screen information such as an order screen program transmitted to the orderer terminal 300.

  The FX server 120 has a customer database 122 for centrally managing a trader and each individual investor (orderer) entrusted to the trader. When the trader terminal 200 connects to the FX server 120. An input screen or the like for inputting customer information such as an individual investor permitted to trade by the trader is displayed on the display of the trader terminal 200, and the customer information such as the individual investor input from the trader terminal 200 is stored in the customer database. 122.

  Registered in the customer database 122 are codes for uniquely identifying individual investors, etc. (consignor codes, participant codes, etc.), customer transaction information such as position information and margin status information of individual investors, etc. (See FIG. 8).

  Then, the trader terminal 200 owned by each trader (O, P, Q,...) According to the present embodiment accesses the FX server 120 to allow individual investors registered in the customer database 122 and the like. Information such as name, e-mail address, login ID and password can be acquired.

  In other words, all the main processing such as registration and transaction processing including ID and password issuance processing is performed centrally by the central server 100. Margin information, information such as transaction conditions based on these information are registered in the central server, and individual investors directly trade without providing the trading function to individual investors. By connecting to a central server, foreign exchange transactions can be performed through a consigned business operator.

  Specifically, in this embodiment, one orderer can access the central server 100 from the orderer terminal 300, and the one orderer can use the orderer terminal 300 to perform the FX server of the central server 100. 120, an authentication process is performed in the authentication server 140 of the central server 100 by entering an ID and a password on the login screen, and if the start of the transaction is permitted as a result of the authentication process, the FX server of the central server 100 The ordering screen program stored from 120 is downloaded into the orderer terminal 300, and the individual investor can enter the order for the foreign exchange transaction at the orderer terminal 300.

  Further, the MM server 120 has an MM database 131 for storing information on each market maker, and MM trader information such as MM trader code, MM trader name, and contact information is stored. Then, when the market maker registered in the MM database 131 connects to the MM server 130 from the market terminal 400, the bit maker, offer information, swap point information, etc. are input or transmitted to the central server 100 (MM server 130). An information input screen program for downloading is downloaded to the market terminal 400 and the information can be provided to the exchange.

  Next, transaction rate information generation processing in the central server 100 transmitted to the orderer terminal 300 of the present embodiment will be described. FIG. 4 is a flowchart of transaction rate information generation processing, and FIG. 5 is a schematic diagram of transaction rate information generation processing.

  In FIG. 4, the rate management unit 116 of the central management server 110 transmits bit information and offer information transmitted from the market terminal 400 of each market maker, and the tradeable quantity (buy quantity, sell quantity) in this bit information / offer information. Are stored for each market maker, bit information, offer information, and tradeable quantity (S401).

  And among these multiple bit information and offer information, the best bid (the highest bid price, that is, the highest price of the bid price (bid price) offered by each market maker. In other words, individual investors, etc. Orderers can sell the target currency at this bid price and the best offer (the cheapest sell price, ie, the lowest price offered by each market maker) (S402), the transaction rate information with the best bit and the best offer as the transaction price, and the purchase that can be transacted with the transaction rate information. The quantity and the sales quantity are directly transmitted to each orderer terminal 300 (S403).

  Specifically, as shown in FIG. 5, for example, bit information of USD / JPY from market maker A to 108.53-63, market maker B from 108.50-60, market maker C from 108.53-59, and When offer information is transmitted to the central server 100, the rate management unit 116 extracts bit information presented by the market maker A as the best bit, and extracts offer information presented by the market maker C as the best offer. Then, the transaction rate information 108.53-59 composed of these best bits and the best offer and the transactable quantity at this transaction rate are transmitted to each orderer terminal 300.

  Next, the processing flow of the foreign exchange trading system of this embodiment will be described in detail with reference to FIG. 3A and FIG. 3B, taking the foreign exchange margin transaction processing as an example.

  First, an individual investor or the like accesses the server 201 possessed by a trader handling foreign exchange margin trading from his computer (orderer terminal 300) and registers personal information for opening an account with the trader 200. Then, the server 201 performs a credit examination process based on the registered personal information (S201).

  Then, when it is determined that the credit information of the individual investor or the like conforms to the transaction conditions in the credit screening process in the server 201 owned by the trader, the trader accesses the FX server 120 from the trader terminal 200 and The customer information account opening information of the investor etc. is input from the screen transmitted from the FX server 120.

  The customer management unit 114 of the central management server 110 stores input of personal information such as individual investors, transaction amounts, and various transaction conditions in accordance with customer information registration processing from the trader terminal 200 to the FX server 120. A check process and a registration process are performed (S301, S302). After completing the registration of the customer registration process, the customer management unit 114 performs an ID and password issuance process on the authentication server 140 and an ID and password registration process in the authentication database 141 (S303). Are reflected in the customer database 122 of the FX server 120 (S304). Thereafter, the ID and password are transmitted from the FX server 120 to the trader terminal 200, and an account opening notification including margin information necessary for the orderer terminal 300, ID, and password information are transmitted (S202).

  The orderer terminal 300 receives the account opening notification and performs a necessary margin deposit process (S102). The transaction terminal 200 performs a deposit confirmation process of this margin (S203), and the transaction company transmits the payment information from the transaction terminal 200 to the FX server 120 of the central server 100, and the customer management unit of the central management server 110 The deposit information received by 114 is stored in the customer database 122 (S305 to S307).

  Then, the customer management unit 114 of the central management server 110 notifies the orderer terminal 300 of the start permission for the actual foreign exchange margin transaction after completing the deposit registration process in the customer database 122 of the FX server 120 ( S308).

  Thereafter, when an individual investor or the like (orderer terminal 300) directly accesses the FX server 120 of the central server 100, a login screen program is downloaded from the FX server 120 (S103). The ID and password information input on the login screen displayed on the orderer terminal 300 is transmitted to the authentication server 140, and authentication processing is performed. After the authentication process, the customer management unit 114 performs a transaction start process to perform a foreign exchange transaction from the orderer terminal 300 (S309).

  Specifically, the customer management unit 114 outputs a command for transmitting the order screen program stored in the FX database 121 to the orderer terminal 300 to the FX server 120, and sends the order to the orderer terminal 300. Send the order screen program.

  In the orderer terminal 300, an order screen described later is displayed by the order screen program. When the transaction rate information (best bit / best offer) provided by the central server 100 of the exchange is transmitted to the orderer terminal 300 (S310), the bid / offer information on the order screen is displayed in real time in the column. The transaction rate information is displayed. The orderer terminal 300 refers to the order screen and transmits order information for buying or selling from the orderer terminal 300 to the central server 100, thereby enabling a foreign exchange margin transaction to be performed (S104).

  When the central server 100 receives information about the order contents from the orderer terminal 300 (for example, conditions for bids, offers, transaction quantities, etc.), the transaction management unit 115 executes the process of accepting the order. In accordance with the contents of the order and the value of the best bid or best offer, various processes such as determination of success / failure of the order and settlement at the time of order establishment are performed (S312 and S313), and the processing results are transmitted to the orderer terminal 100 (S314). . At this time, the transaction management unit 115 stores the order information, transaction result information, and the like in the transaction database 118.

  When the central management server 100 receives the order information from the orderer terminal 300, the central processing server 100 performs credit processing based on the customer information registered in the customer database 122 of the FX server 120, for example, the order contents are converted into margin information. Credit processing is performed such as whether the transaction condition is met (S311). As a result of this credit processing, if the order information transmitted from the orderer terminal 300 does not match the transaction conditions, etc., an order information error notification is transmitted to the orderer terminal 300, assuming that the order information includes error information. To do.

Further, the transaction processing by the transaction management unit 115 of this embodiment performs two transaction processes. Specifically, an exchange exchange transaction established between a trader (transaction participant) and a plurality of market makers in accordance with an ordering instruction from the orderer is a first exchange between the market maker and the exchange as soon as the trade is established. The transaction processing is automatically replaced with two transactions of the second transaction between the exchange and the exchange participant, and the counterparty of each transaction party of the trader and market maker is replaced with the exchange. Is going.
For example, the transaction management unit 115 divides the established transaction information into a first transaction process between the exchange and the market maker, and a second transaction process between the exchange and the trader. Stored in the database 118. Then, the market maker and the trader perform settlement processing with respect to the exchange.

  The orderer can make a transaction status inquiry based on the order information transmitted from the orderer terminal 300 to the central server 100 (exchange). When a status inquiry button on the order screen displayed on the orderer terminal 300 to be described later is pressed by the orderer's operation (S105), status inquiry request data is transmitted from the orderer terminal 300 to the central server 100. The transaction management unit 115 of the central management server 110 extracts various data from the order information table, order history table, execution information table, and margin information table of the exchange database 118 in response to the reception of the situation inquiry request data. Perform transaction status acquisition processing, for example, order list information (order status, order method, product name, trading category, execution conditions, transaction price, transaction quantity, contract amount, order date, order receipt number, etc.), open interest list information, Order history information, contract information, margin information, etc. are generated and transmitted to the orderer terminal 300 (S315 to S317).

  Then, the central server 100 performs a price washing process in which the open interest is re-evaluated with the clearing price determined at the exchange in accordance with the daily market price change (S318).

  This price washing process is performed by the transaction management unit 115 of the central management server 110, acquires various information from the exchange database 118, generates price washing information, and the swap point management unit 117 of the central management server 110 performs Then, a process of calculating a swap point value from swap point information relating to the open position (sell position) and the open position (buy position) transmitted from the market terminals 400 of a plurality of market makers is performed.

  Then, the price washing information and the swap point value are transmitted to the orderer terminal 300 via the FX server 120 (S319, S320).

  Here, the swap point calculation process of the present embodiment will be described in detail with reference to FIGS. The calculation processing of interest rate difference exchange (swap points) for currencies in foreign exchange transactions according to the present embodiment is based on swap point information on open and purchased balls provided by multiple market makers. Swap point values that are commonly applied without any distinction are calculated and transmitted to each orderer terminal 300.

  First, the market maker transmits information related to the open and purchased balls and the swap point information related to the open and purchased balls from each market terminal 400 to the central server 100 (S102M). The swap point management unit 117 of the central server 100 acquires (receives) information on the open and bought balls and swap point information from these market terminals 400, and stores each market maker in the swap point table 117A of the exchange database 118. Each bit and offer information is stored (registered) (see S501 in FIG. 6, FIG. 7).

  Then, the swap point management unit 117 performs a check process of the swap point information presented by each registered market maker, and incorrect swap point information, for example, swap point information presented by one market maker is displayed by another market maker. If the value is significantly different from the presented swap point information, or if the swap point information for the transaction currency is unregistered (unsent), an inquiry notification is output to the market terminal 400 as incorrect swap point information. Or a notification that prompts the user to send swap point information (S502).

  Thereafter, the swap point management unit 117 sells / buys positions in all market makers based on the information regarding the open positions (sell positions) and the open positions (buy positions) from each market terminal 400 registered in the swap point table 117A. Determine the side. For example, as shown in Table 117B of FIG. 7, the position information on the bit side and offer side for each market maker is organized, and the average open interest is calculated for each open and purchased open ball. (S503, S504). Then, a swap point value is calculated using the swap point information on the determined position side.

  In Table 117B of FIG. 7, since each average open position has more open positions than open positions, the position side of all market makers is determined as the buy side. Then, an average value of the swap point information regarding the buy positions of all market makers is calculated, and this average value is stored in the exchange database 118 as a common swap point value regardless of the sell position and the buy position, and the swap point value is stored. It transmits to each orderer terminal 300.

  As described above, in the present embodiment, the central server 100 owned by the exchange for foreign exchange trading uses the best bit and offer (selling price) information transmitted from a plurality of market makers based on the best bit and the offer (selling price) information. The transaction rate information that is the best offer is extracted and transmitted to each orderer terminal 300.

  For this reason, for individual investors, etc., it is possible to conduct transactions at the same transaction price presented by the market maker, rather than transactions at the transaction price with the profits of the handling companies added, The transaction price is highly transparent and reliable, and foreign exchange transactions that are safe for individual investors can be realized.

  Furthermore, in the foreign exchange trading system for exchange trading according to the present embodiment, exchange exchange transactions established between a plurality of market makers and traders (trade participants) are exchanged between the market makers and the exchanges at the same time as the establishment. The transaction process is automatically replaced with two transactions, the first transaction between and the second transaction between the trader and the exchange. Therefore, even if the market maker fails, By avoiding risks such as default, it is possible to protect trading participants, and thus individual investors, from credit risk, and safe transactions are realized for individual investors.

  Further, since the orderer terminal 300 such as an individual investor is provided with information on the best bit and the best offer transaction rate and information on the transaction quantity that can be traded at the relevant transaction rate, the investment amount of the individual investor is determined. It is possible to conduct transactions while rationally verifying the market price.

  In addition, in foreign exchange margin trading applying the exchange trading foreign exchange trading system of this embodiment, it is common to sell / buy positions based on swap point information on sell / buy positions provided by multiple market makers. The swap point value to be applied is determined by the central server 100 of the exchange, so that the profits of individual investors are not impaired due to the addition of the profits of the dealers, etc., and is highly transparent and reliable Advantageous and safe transactions based on swap point values from exchanges can be provided to individual investors.

  Further, the margin deposited by the individual investor in the account of the trader is registered as deposit information in the customer database 122 of the central management server 120, and the individual investor accesses the central server 100 from the orderer terminal 300. The margin information registered in the central server 100 (exchange) can be referred to.

  In other words, individual investors do not acquire and refer to the margin information managed by the trader, but acquire and refer to the margin information managed by the central server 100 held by the exchange. Individual investors and the like can clearly grasp the margin entrusted to the trader, and can appropriately protect the assets of the individual investors and the like (protection against credit risk).

  Moreover, since the foreign exchange transaction system of this embodiment can provide the system for performing a foreign exchange transaction with respect to a trader (trader terminal 200) as an ASP system, each trader constructs the system. There is no need to do so, and the operating cost and the like in the trader can be reduced. That is, it becomes possible to push down the transaction fee for individual investors and the like, and a safe foreign exchange transaction can be realized with a low fee for the individual investors.

  Next, an order screen displayed on the orderer terminal 300 in the foreign exchange transaction system of the present embodiment will be described. FIGS. 9 and 10 show the foreign exchange transaction displayed on the display device (LCD, CRT, etc.) of the orderer terminal 300 based on the order screen program downloaded from the FX server 120 of the central server 100. FIG. It is a figure which shows the screen for ordering (screen displayed first after login) C for performing an order. Here, FIG. 9 is a diagram (transition diagram of the order column) for explaining a series of flow from order input to input confirmation to order completion, and FIG. 10 is displayed on the display device of the orderer terminal 300. It is a figure which shows the state of order completion for demonstrating the screen to be described.

  As shown in FIG. 9, the information displayed on the order screen includes a display field (first display) in which buy / sell information (bid / offer) information transmitted from the central server 100 and fluctuating in real time is displayed. Screen) C1, order field (second display screen) C2 for inputting various information about one (single) order of foreign exchange transactions, and information on the order status of the orderer to date Are roughly divided into status inquiry fields (third display screen) C3.

  9 and 10 show examples of transaction forms for a single order in which a predetermined condition is set for either buying or selling and the transaction is concluded when the condition is satisfied. In addition, an IfDone order (which can set a predetermined condition for both buying and selling) is an order that is valid on the condition that a certain order is executed, and that an order is executed. An OCO order that is an invalid order, an IfDone OCO order that combines the above IfDone order and the OCO order, a streaming order that is an order to be executed at the current market price displayed on the orderer terminal 300, etc. In this case, the display of the order column C2 is partially different, but the other displays are the same.

  In the present embodiment, by displaying each of these fields in one display screen, it is possible to grasp at a glance information on the market buy / sell price and the orderer (investor), and the other screens are arranged in parallel (that is, Orders can be entered only on this screen, without having to display them at the same time.

  In the present embodiment, various numerical information displayed on the upper side of the order screen C is a calculated value calculated by the central server 100 and is displayed on the display screen of each orderer terminal 300 in the same manner. As the calculated value, as shown in FIG. 9, the purchase quantity “buy price” for each product (for example, US dollar / yen, euro / yen, pound / yen, Australian dollar / yen, etc.), Bid price “Bid price”, Bid price “Bid price”, Sell quantity “Bid price”, Latest contract price, Open price, High price, Low price, Trading volume, Previous day rate, Clearing price for the previous day, etc. are displayed in the display column C1.

  Further, as shown in FIG. 10, in the order column C2 on the left side of the order screen C, from the top, the order reception number display column transmitted from the central server 100 upon completion of order reception, similarly transmitted from the central server 100. Order display date / time display field, order target product display field C2c, sell / buy display field for the order target product, execution condition display field for executing the order by the central server 100, A price display column for the order, a quantity display column for the order, and an expiration date display column for executing the order by the central server 100 are displayed.

  In the present embodiment, as shown in FIG. 9, predetermined items are entered in each input field (items / selling fields such as merchandise, trade category, execution condition, price, quantity, expiration date, etc.) by the orderer operating the mouse or the like. After that, when the “confirm” button under the order column C2 is selected, the information on the order contents is transmitted to the central server 100 after passing through the confirmation screen shown in the lower part of FIG. When the order reception processing is executed by the central server 100, the order reception number and the order reception date / time information are transmitted from the central server 100, and the information indicates the order completion shown in the lower part of FIG. 9 and FIG. Displayed in each display field on the screen. Thereafter, as described above, the central server 100 performs various processes such as determination of success / failure of the order, settlement when the order is established, and the processing result is received by the orderer terminal 300.

  In the status inquiry column C3 on the right side of the ordering screen C, evidence that displays information on the margin of the orderer (investor) (here, margin deposit amount, equivalent amount of trading capacity, total profit and loss, etc.) Gold status column, information on the order status of the orderer (investor) (here, a list of orders that are currently accepted and not yet completed (pending), a list of orders that have been established (or failed) in the past , Etc.) are displayed. For transaction items that are currently accepted and not yet completed, you can cancel all applicable orders at once by selecting the “Cancel All Orders” button in FIG. ing. Below the status inquiry column C3, a withdrawal instruction status column for displaying the status of the asset withdrawal instruction of the orderer (investor) is displayed. Each information displayed in the situation inquiry column is also managed by the central server 100 and transmitted from the central server 100.

  The “□□ Trader” field in the upper left corner of the order screen C and the “Inquiry:” field in the upper right corner of the screen are fields for displaying the trader name and telephone number of each trader. Therefore, different information is displayed for each trader entrusted by individual investors.

  In the present embodiment, various numerical information displayed on the upper side of the screen based on the order screen program changes to a predetermined color only for a predetermined period at the moment when the numerical value changes. The display device is controlled by the CPU of the orderer terminal 300 so that the numerical value changes to red when the numerical value increases and changes to blue when the numerical value decreases.

  Here, among the display values in the display column C1 on the upper side of the screen in FIG. 9, the value displayed in the “Bid Price” column is the value of the above-mentioned best bid (the highest bid price). The value displayed in the column is the value of the best offer (the cheapest selling price) described above. In the present embodiment, when a value is specified with any of the input means (for example, when the mouse pointer is left-clicked with the mouse pointer positioned at the corresponding position), the specified bit or offer value is displayed in the order field C2. The display device is controlled by the CPU of the orderer terminal 300 so as to be copied and input into the predetermined field, and data of the value is stored in a temporary memory such as a RAM. As a result, the numerical value of the best bid or the best offer at that time is copied and displayed in the order column C2 by one click of the mouse, so that the orderer's input operation at the time of ordering is improved in speed and convenience. Figured.

  Further, in the present embodiment, the quantity that can be purchased with the buy / sell price (bid / offer) is also displayed in the display column C1 in which the buy / sell price (bid / offer) information is displayed. In addition, it is possible to grasp the quantity related to the market selling / buying price, which can be used as a standard for determining the investment amount of individual investors and the like, and the actual situation of the market price can be reasonably verified.

  Further, since the volume information of the transaction target currency is displayed in the display column C1, it is easy to grasp the market trend, and it is possible to realize a transaction in a highly transparent situation.

  In the FX database 121 of the FX server 120, the first to third display screen programs are stored in a screen information table (not shown) and the like. The management unit 112 extracts the first to third display screen programs, generates an order screen program, and transmits it to the orderer terminal 300. Further, based on the ID information of the trader entrusted by individual investors, etc., logo information etc. is stored in advance for each trader, and an order screen program including this logo information is generated, and the orderer You may comprise so that it may transmit to the terminal 300. FIG.

  As described above, in the present embodiment, all the main processes such as registration and transaction processing including ID and password issuance processing are performed centrally by the central server 100. Forex trading is performed through a contractor that is directly connected to the central server of the exchange without going through the server 201 or the like that is held. The foreign exchange transaction system via the server 201 can also be obtained.

  For example, in order to reduce the processing burden on the central server 100 of the exchange, the server 201 has a database for registering various information about individual investors (orderers), and names, e-mail addresses, logins of individual investors, etc. Information such as an ID and a password is stored. Then, when the orderer performs a transaction, authentication processing is performed on behalf of the central server 100, or various information transmitted from the central server 100 to the orderer terminal 300 is stored, and from the server 201 in response to the orderer's request. It can also be configured to transmit.

The system block diagram of the foreign exchange transaction system to which this invention is applied. The block diagram of the central server of the foreign exchange transaction system to which the present invention is applied. The flowchart figure for demonstrating the process outline | summary of the foreign exchange transaction system which provided this invention. The flowchart figure following FIG. 3A for demonstrating the process outline | summary of the foreign exchange transaction system which provided this invention. The flowchart figure for demonstrating the extraction process of the transaction rate information of the foreign exchange transaction system to which this invention is applied. The schematic diagram for demonstrating the extraction process of the transaction rate information of the foreign exchange transaction system to which this invention is applied. The flowchart figure for demonstrating the swap point process of the foreign exchange transaction system to which this invention is applied. The schematic diagram for demonstrating the swap point process of the foreign exchange transaction system to which this invention is applied. The figure which shows an example of the customer database of the foreign exchange transaction system to which this invention is applied. It is a figure explaining the screen for order displayed on the display apparatus of the orderer terminal which concerns on the foreign exchange transaction system to which this invention is applied. It is a figure which shows the screen for order displayed on the display apparatus of the orderer terminal which concerns on the foreign exchange transaction system to which this invention is applied.

Explanation of symbols

100 Central server 110 Central management server 120 Server for FX 130 Server for MM 200 Trader terminal 300 Orderer terminal 400 Market terminal C Order screen

Claims (22)

Forex trading is carried out by a central server held by an exchange for foreign exchange transactions and an orderer terminal operated by the orderer to conduct foreign exchange transactions through a trader registered in the central server. A foreign exchange trading system for
The central server automatically inputs bids (buy prices) and offers (selling prices) provided by a plurality of market makers, extracts a value that provides the most advantageous price for the investor, A foreign exchange transaction system characterized by being transmitted to an orderer terminal. Forex trading is carried out by a central server held by an exchange for foreign exchange transactions and an orderer terminal operated by the orderer to conduct foreign exchange transactions through a trader registered in the central server. A foreign exchange trading system for
The central server receives a plurality of bid information and offer information transmitted from each market terminal possessed by a plurality of market makers, and generates a transaction rate information based on the received plurality of bit information and the offer information. Information generating means;
Transmitting means for transmitting the transaction rate information to the orderer terminal;
A foreign exchange transaction system comprising transaction means for performing transaction processing in accordance with order information based on the transaction rate information transmitted from the orderer terminal.   The transaction rate information generating means generates the transaction rate information based on a highest buy price extracted from the plurality of bit information and a lowest sell price extracted from the plurality of offer information. The foreign exchange transaction system according to claim 2.   The transaction means is configured to execute a transaction established between one market maker and the trader between a first trade between the market maker and the exchange, and between the trader and the exchange. The foreign exchange transaction system according to claim 2, wherein transaction processing is performed as two transactions with the second transaction processing. The trader possesses a trader terminal connected to the central server,
The said central server has a memory | storage means to memorize | store the information regarding the orderer who performs the foreign exchange transaction via the said trader transmitted from this trader terminal, The storage unit of any one of Claim 2 to 4 characterized by the above-mentioned. Forex trading system as described in. The trader possesses a trader terminal connected to the central server,
The central server stores a first storage means for storing information on an orderer who performs a foreign exchange transaction via the trader transmitted from the trader terminal;
6. A second storage means for storing registration screen information transmitted from the central server to the trader terminal in order to register this information in the storage means. The foreign exchange trading system described in one. Forex trading is carried out by a central server held by an exchange for foreign exchange transactions and an orderer terminal operated by the orderer to conduct foreign exchange transactions through a trader registered in the central server. A foreign exchange trading system for
The central server receives each swap point information related to the open position information and the open position information transmitted from each market terminal of a plurality of market makers, and calculates a swap point value based on the swap point information Means,
A foreign exchange transaction system comprising: a transmission means for transmitting the swap point value to the orderer terminal.   6. The foreign exchange transaction system according to claim 5, wherein the swap point processing means calculates a swap point value that is commonly applied to the open and buy positions based on a plurality of the swap point information. A central server held by an exchange for foreign exchange transactions, an orderer terminal operated by the orderer to conduct foreign exchange transactions through a trader registered in the central server, and the trader has A foreign exchange transaction system for performing a foreign exchange transaction with a transaction terminal connected to the central server,
The central server receives information on the margin of the orderer transmitted from the trader terminal, and stores customer management means for storing information on the margin in the storage means in the central server;
A foreign exchange transaction system comprising: a transmission unit configured to transmit information related to the margin to the orderer terminal in response to an information browsing request from the orderer terminal. Forex trading is carried out by a central server held by an exchange for foreign exchange transactions and an orderer terminal operated by the orderer to conduct foreign exchange transactions through a trader registered in the central server. A foreign exchange trading system for
In the orderer terminal, a field in which bit information / offer information that is transmitted from the central server and fluctuates in real time is displayed, an order field for inputting various information about one order of a foreign exchange transaction, A foreign exchange transaction system, characterized in that an order status column for displaying information on the order status of the orderer to date is displayed on a single screen.   9. The foreign exchange transaction system according to claim 8, wherein information on a margin status is displayed in the order status column. Forex trading is carried out by a central server held by an exchange for foreign exchange transactions and an orderer terminal operated by the orderer to conduct foreign exchange transactions through a trader registered in the central server. A foreign exchange trading system for
The orderer terminal has a field for displaying bid information / offer information that is transmitted from the central server and fluctuates in real time, and an order field for inputting various information about one order of the foreign exchange transaction. Displayed on one screen,
The foreign exchange transaction system, wherein the bid information / offer information is displayed in the column for displaying the quantity information that can be traded based on the bid / offer information and the volume information of each transaction target currency. Forex trading is carried out by a central server held by an exchange for foreign exchange transactions and an orderer terminal operated by the orderer to conduct foreign exchange transactions through a trader registered in the central server. A foreign exchange trading system for
The orderer terminal includes a field for displaying bid / offer information that is transmitted from the central server and fluctuates in real time, and an order field for inputting various information about one order of the foreign exchange transaction. Displayed on the screen,
Forex transaction characterized in that the orderer terminal is controlled so that when the bit / offer information is designated and operated by the input means of the orderer terminal, the value at that time is copied into the order field. system.   When the bit / offer information is designated and operated by the input means of the orderer terminal, the numerical value at that time, the currency related to the bit / offer information, and information on buying and selling are copied in the order column. 14. The foreign exchange transaction system according to claim 13, wherein the orderer terminal is controlled. Forex trading is carried out by a central server held by an exchange for foreign exchange transactions and an orderer terminal operated by the orderer to conduct foreign exchange transactions through a trader registered in the central server. A foreign exchange trading system for
The central server has transmission means for transmitting, to the orderer terminal, screen information displayed on the orderer terminal to perform the foreign exchange transaction in response to access from the orderer terminal,
The display screen information is transmitted from a market terminal of a market maker to the central server, and a first display screen for displaying on the orderer terminal bid information and offer information that fluctuate in real time, and the orderer terminal And a second display screen for inputting various information about one order of the foreign exchange transaction, and a third display for displaying information about the current order status of the orderer on the orderer terminal. A foreign exchange transaction system comprising screen information relating to a display screen.   16. The foreign exchange transaction system according to claim 15, wherein the display screen information is screen information in which the first, second, and third display screens are displayed in one screen. A foreign exchange transaction program for executing a foreign exchange transaction from a client terminal registered in the central server from an orderer terminal operated by an orderer, which is executed by a central server owned by an exchange exchange. There,
Receiving a plurality of bid information and offer information transmitted from each market terminal of a plurality of market makers, and generating transaction rate information based on the received plurality of bit information and the offer information;
Transmitting the transaction rate information to the orderer terminal;
And a transaction process according to order information based on the transaction rate information transmitted from the orderer terminal. A foreign exchange transaction program for executing a foreign exchange transaction from a client terminal registered in the central server from an orderer terminal operated by an orderer, which is executed by a central server owned by an exchange exchange. There,
Receiving swap point information related to the open position information and the open position information transmitted from each market terminal possessed by a plurality of market makers, and calculating a swap point value based on the swap point information;
And a step of transmitting the swap point value to the orderer terminal. It is a foreign exchange transaction method that is connected to a central server owned by an exchange for foreign exchange transactions, and that an orderer performs a foreign exchange transaction through a trader registered in the central server at an orderer terminal. And
Receiving a plurality of bid information and offer information transmitted from each market terminal of a plurality of market makers, and generating transaction rate information based on the received plurality of bit information and the offer information;
Transmitting the transaction rate information to the orderer terminal;
A foreign exchange transaction method comprising: performing transaction processing according to order information based on the transaction rate information transmitted from the orderer terminal. It is a foreign exchange transaction method that is connected to a central server owned by an exchange for foreign exchange transactions, and that an orderer performs a foreign exchange transaction through a trader registered in the central server at an orderer terminal. And
Receiving swap point information related to the open position information and the open position information transmitted from each market terminal possessed by a plurality of market makers, and calculating a swap point value based on the swap point information;
And a step of transmitting the swap point value to the orderer terminal. A central server held by an exchange in a foreign exchange trading system for performing foreign exchange trading,
Transaction rate information generating means for receiving a plurality of bid information and offer information transmitted from each market terminal possessed by a plurality of market makers, and generating transaction rate information based on the received plurality of bit information and offer information;
Transmitting means for connecting to the central server and transmitting the transaction rate information to an orderer terminal for conducting a foreign exchange transaction through a trader registered in the central server;
A central server comprising transaction means for performing transaction processing according to order information based on the transaction rate information transmitted from the orderer terminal. A central server held by an exchange in a foreign exchange trading system for performing foreign exchange trading,
Swap point processing means for receiving each swap point information related to the open position information and the open position information transmitted from each market terminal possessed by a plurality of market makers, and calculating a swap point value based on the swap point information;
A central server, comprising: a transmission unit that connects to the central server and transmits the swap point value to an orderer terminal for performing a foreign exchange transaction through a trader registered in the central server.

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