JP4256159B2 - Asset formation support system, asset formation support method, and program - Google Patents

Description

【０１３２】
表１には、現物株購入およびコールオプション購入の組合せを選択した従業員Ｘについての資産形成状況の一例が示されている。従業員Ｘは、現物株購入用積立金として毎月の給与から１万円、賞与から５万円を天引きされている。また、オプション権利行使価格は、現物株の取得価格（購入時の時価）と同じとし、かつ、オプション取引に係る購入株数を、現物株の購入株数と同じとし、１：１の購入比率とする。さらに、オプション料は、オプション権利行使価格の０．１％で一律の設定とする。そして、管理者は、毎年３月、６月、９月、１２月という具合に３ヶ月置きに現物株およびオプションの購入を行っている。
【０１３３】
この際、例えば、平成１４年３月の天引き処理後には、従業員Ｘの積立金は、平成１４年１〜３月分の３万円であり、３月の購入時点の時価は３００円であるから、管理者が３月に購入した現物株のうちの従業員Ｘの持ち株は、３万円÷３００円＝１００株である。また、３月の購入時点で、従業員Ｘは、１株３００円で１００株を、つまり３万円で１００株を企業から買い付けることができるコールオプションを保有している。そして、平成１４年１〜３月に天引されたオプション料の合計額は、オプション権利行使価格×０．１％×購入株数＝時価×０．１％×購入株数＝購入総額×０．１％であるから、結局、平成１４年１〜３月の積立金の合計額３万円の０．１％で、３０円となる。従って、毎月のオプション料は、毎月の積立金の０．１％でよい。但し、平成１４年４月および５月に天引きされたオプション料は、０円となっている（表１中の＊印）。これは、時価（４月が２００／株、５月が２５０円／株）がコールオプションの権利行使価格（３００円／株）を下回ったので、オプション料補填処理手段３７Ｃによる補填処理が行われたためである。
【０１３４】
同様にして、平成１４年６月の時点では、従業員Ｘは、１株４００円で２００株を、つまり８万円で２００株を企業から買い付けることができるコールオプションを購入し、平成１４年３月の購入分と合わせると、１１万円で３００株を企業から買い付けることができるコールオプションを保有していることになり、平均権利行使価格は、１１万円÷３００株＝３６７円となっている。このようにしてコールオプション購入を継続すると、平均権利行使価格が毎回更新され、平成１５年３月の時点では、平成１４年１月からの累計購入総額が２５万円であり、累計購入株数が５１５株であるから、平均権利行使価格は、２５万円÷５１５株＝４８５円となる。ここで、平成１５年３月の時価は、１，０００円／株であるから、従業員Ｘは、この時点でコールオプションの権利行使（行使期限の制約は、ここでは考慮しないものとする。）をすれば、（１，０００円−４８５円）×５１５株＝２６５，２２５円の利益（但し、オプション料の支払い分は考慮していない。）を得ることができる。
【０１３５】
【表２】

【０１３６】
表２には、現物株購入およびプットオプション購入の組合せを選択した従業員Ｙについての資産形成状況の一例が示されている。権利行使価格、購入比率、オプション料、給与・賞与からの天引き額、購入時期の設定は、表１の場合と同様である。
【０１３７】
平成１４年９月の購入後の時点では、平成１４年１月からの現物株の累計購入総額が１４万円であり、現物株の累計購入株数が３２０株であるから、現物株の平均取得価格は、１４万円÷３２０株＝４３８円となる。ここで、平成１４年１１月の時価は、１，０００円／株に上昇しているので、従業員Ｙは、この時点で、（１，０００円−４３８円）×３２０株＝１７９，８４０円の利益を得ることができる。また、平成１５年３月の時点では、平成１４年１月からの累計購入総額が２５万円であり、累計購入株数が５７０株であるから、平均権利行使価格は、２５万円÷５７０株＝４３９円となる。ここで、平成１５年３月の時価は、２００円／株に下落しているので、従業員Ｙの持ち株の価値は下がっているものの、この時点でプットオプションの権利行使（行使期限の制約は、ここでは考慮しないものとする。）をすれば、（４３９円−２００円）×５７０株＝１３６，２３０円の利益（但し、オプション料の支払い分は考慮していない。）を得ることができ、損失と利益との相殺を行うことができる。
【０１３８】
続いて、オプション条件の算定後には、オプション取引許否判断手段３３Ｂにより、企業側条件データベース５５に記憶された企業側の条件と、オプション条件算定手段３３Ａにより算定したオプション条件とを比較し、企業がそのオプション条件でのオプション取引を許容できるか否かを判断する（ステップＳ１０）。なお、オプション条件が企業側の許容範囲に入らない場合には、オプション条件算定手段３３Ａによりオプション条件を算定し直してもよく、あるいは今回のオプション取引は不成立としてもよい。
【０１３９】
そして、オプション取引許否判断手段３３Ｂは、企業が取引を許容できると判断した場合には、その成立した取引に関する購入者全員分をまとめたオプション情報を、オプション情報データベース５４に蓄積記憶されているオプション情報に追加して保存するとともに、購入者データベース５１に記憶された各購入者毎のオプション保有情報も、各購入者の現物株購入用積立金の拠出割合（各購入者毎の購入比率の指定がある場合には、その比率も考慮する。）に応じて更新し、保存する（ステップＳ１１）。また、オプション料を一律の設定としない場合には、オプション取引許否判断手段３３Ｂは、オプション条件算定手段３３Ａにより算定されたオプション料の情報を天引き情報提供手段３７に受け渡し、天引き情報提供手段３７は、このオプション料の情報を天引き情報として企業人事システム６０の天引き処理手段６１に提供する。
【０１４０】
以上により、現物株およびオプション購入時の処理を終了する（ステップＳ１２）。なお、図４では、ステップＳ４〜Ｓ１１の処理は、ループ表示されていないが、実際には、現物株およびオプションの購入処理の都度に繰り返される。
【０１４１】
その後、現物株およびオプション購入時の処理を終了すると、オプション権利行使時の処理が開始される（図５のステップＳ２１）。
【０１４２】
図３および図５において、先ず、管理サーバ３０では、オプション行使期限監視手段３４Ａにより、オプション情報データベース５４に記憶された満期日に関する情報を参照し、オプション行使期限を監視する（ステップＳ２２）。
【０１４３】
次に、管理サーバ３０では、オプション行使期限監視手段３４Ａにより行使期限が近づいてきたと判断されたオプションについて、オプション行使期限通知手段３４Ｂにより、例えば電子メール等を用いて各購入者に対してその旨の通知を行う（ステップＳ２３）。各購入者は、各自の操作する購入者端末装置２０でこの通知内容を確認する。
【０１４４】
続いて、通知を受けた各購入者は、オプションの権利行使をするか否かを判断し、権利行使をする場合には、購入者端末装置２０を操作して権利行使請求を行う。この権利行使請求では、ある時期までに累積したオプションをまとめて行使できるようにしてもよく、あるいは期間を区切って各期間単位（例えば１年単位等）で行使できるようにしてもよく、前述した表１および表２の例の場合には、例えば、平成１４年の１年間に購入した分のみについて、平成１５年以降に設定されている行使期限内に行使できるようにしてもよく、さらには各購入時期毎に個別に行使できるようにしてもよい。
【０１４５】
管理サーバ３０では、権利行使請求受付処理手段３４Ｃにより、個々の購入者による購入者端末装置２０からの権利行使請求信号を受信すると（ステップＳ２４）、オプション権利内容確認手段３４Ｄにより、オプション情報データベース５４および購入者データベース５１を参照して購入者が権利行使請求したオプションの内容を確認し（ステップＳ２５）、さらに、金庫株確認手段３４Ｅにより、企業資産管理システム７０にアクセスし、金庫株データベース７２に記憶された金庫株の保有情報を、金庫株管理手段７１から受け取って把握する（ステップＳ２６）。
【０１４６】
その後、金庫株確認手段３４Ｅにより金庫株で権利行使に対応できると判断した場合には、権利行使実行処理手段３４Ｆにより、各購入者から個別に請求されたオプション権利行使を実行する処理を行う（ステップＳ２７）。この際、権利行使実行処理手段３４Ｆは、企業資産管理システム７０にアクセスし、金庫株管理手段７１に指令を出して金庫株データベース７２に記憶された金庫株の保有量を増減させる一方、現物株データベース５３に記憶された従業員の持ち株（管理者が管理している購入者全員の持ち株）の保有量も増減させる。これにより、コールオプションの場合には金庫株から従業員持ち株への現渡しまたはキャッシュでの決済が行われ（図６参照）、プットオプションの場合には従業員持ち株から金庫株への現渡しまたはキャッシュでの決済が行われる（図８参照）。また、権利行使実行処理手段３４Ｆは、購入者データベース５１に記憶された各購入者の現物株保有情報のうちの権利行使をした購入者のみのデータを増減させる。さらに、権利行使実行処理手段３４Ｆは、オプションが権利行使されたことから、オプション情報データベース５４に記憶された未行使オプション蓄積情報を更新するとともに、購入者データベース５１に記憶された各購入者のオプション保有情報のうちの権利行使をした購入者のみのデータを更新する。
【０１４７】
最後に、オプション実行処理通知手段３４Ｇにより、オプション権利行使の実行処理を完了した旨を、例えば電子メール等を用いて権利行使請求をした購入者に通知する（ステップＳ２８）。そして、権利行使請求をした購入者は、自分の操作する購入者端末装置２０でこの通知内容を確認する。以上により、オプション権利行使時の処理を終了する（ステップＳ２９）。
【０１４８】
このような本実施形態によれば、次のような効果がある。すなわち、資産形成支援システム１０は、現物株およびコールオプションを組み合わせた購入、または現物株およびプットオプションを組み合わせた購入のうちのいずれかを従業員に選択させ、購入処理を実行することにより、従業員の資産形成を支援することができる。
【０１４９】
このため、従業員が現物株およびコールオプションの購入を選択した場合には、相場上昇により現物株購入のみの場合の利益以上の利益を得ることができる（図７参照）。つまり、従業員は、相場上昇時には、購入した現物株の時価の上昇による利益と、コールオプションの権利行使による利益とを得ることができる（図７のＡ部）。一方、相場下落時には、コールオプションの権利行使はしないが、購入した現物株の時価の下落による損失が発生する（図７のＢ部）。この意味で、従業員は、多少のリスクを覚悟して大きな利益を追及するリスク許容型の購入選択を行うことができる。なお、オプション料補填処理手段３７Ｃによる補填処理が行われる場合には、図７中の点線の如く、Ａ部およびＢ部が上側に移動する。
【０１５０】
また、従業員が現物株およびプットオプションの購入を選択した場合には、相場低迷に対するヘッジを行うことができる（図９参照）。つまり、相場上昇時には、購入した現物株の時価の上昇による利益を得ることができる（図９のＣ部）。なお、プットオプションの権利行使はしない。一方、相場下落時には、購入した現物株の時価の下落による損失が発生するが、プットオプションの権利行使による利益が得られるので、これらの損失と利益とを相殺することができる（図９のＤ部）。この意味で、従業員は、リスクを回避しつつ、ある程度の利益を確保するリスク回避型の購入選択を行うことができる。
【０１５１】
従って、従業員は、図７のリスク許容型の購入か、図９のリスク回避型の購入を自らの意思で選択することができるので、自己の事情に合った投資方法を選択し、より有利な形で資産形成を行うことができる。
【０１５２】
一方、企業にとっては、従業員に選択の余地を与えることができ、また、従業員が現物株およびプットオプションの購入を選択した場合には、相場低迷の場合でも従業員に株価下落のリスクを与えることを回避することができる。
【０１５３】
さらに、オプション権利行使処理手段３４による処理は、各購入者の請求に応じて実行されるので、各購入者は、自己の抱える事情を考慮し、自己の意思でオプション権利行使をするか否かを判断することができる。
【０１５４】
そして、資産形成支援システム１０は、オプション料補填処理手段３７Ｃを備えているので、例えば従業員の業績等に応じ、オプション料の軽減または免除を行うことができる。このため、株価下落時に従業員に与える負担を軽減できるので、従業員は、より有利な形で資産形成を行うことができる。
【０１５５】
また、資産形成支援システム１０は、オプション条件算定手段３３Ａ、オプション取引許否判断手段３３Ｂ、および企業側条件データベース５５を備えているので、企業側の条件を考慮し、オプション取引を行うことができる。
【０１５６】
さらに、資産形成支援システム１０は、オプション情報データベース５４、オプション情報提供手段３５、および金庫株保有情報取得手段３６を備えているので、企業側に未行使オプション蓄積情報や金庫株の過不足情報を提供することができる。このため、企業は、従業員のオプション権利行使に備えることができる。
【０１５７】
そして、現物株購入処理手段３２は、積立金集計手段３２Ａ、現物株購入処理用時価情報取得手段３２Ｂ、購入株数算出手段３２Ｃ、および現物株購入実行処理手段３２Ｄを含んで構成されているので、従来、持株会が行っていた現物株の購入手続を、迅速に処理することができる。
【０１５８】
また、オプション取引処理手段３３により、現物株とオプションとの購入比率を１：１にした購入処理を自動的に行うことができるので、従業員は、バランスのとれた投資を行うことができるうえ、自ら購入比率を判断する手間をかけることなく、有利な資産形成を行うことができる。
【０１５９】
さらに、必要な場合には、現物株とオプションとの購入比率を、各購入者が購入申込時に指定するようにすることもでき、このようにした場合には、従業員に与えられる選択性をより一層高めることができ、従業員は、自己の事情や判断に、より一層合致する投資を行うことができる。
【０１６０】
また、資産形成支援システム１０は、天引き情報提供手段３７を備えているので、この天引き情報に基づき、企業人事システム６０の天引き処理手段６１により、現物株購入用積立金およびオプション料を、給与または賞与から天引きすることができる。このため、従来の持株会と同様に、円滑に現物株購入のための資金を集めることができる。また、現物株の時価の変動に伴い、オプション料も変動するが、支払いは月掛けで行われるので、ドルコスト平均法（時価が高いときには購入株数を少なくし、時価が低いときには購入株数を多くし、毎回一定額の購入を行う方法）が働き、毎月支払うオプション料を平準化することができる。また、現物株購入のみではなく、オプション購入も組み合わせるので、オプション購入分については、毎月の支払いはオプション料だけとなることから、毎月の天引き額を低く抑えることができ、資金負担を軽減することができる。
【０１６１】
そして、権利行使実行処理手段３４Ｆは、オプション権利行使を実行する際には、企業資産管理システム７０にアクセスし、金庫株データベース７２の金庫株の保有量を増減させる処理を行うので、金庫株の有効利用を図ることができる。
【０１６２】
なお、本発明は前記実施形態に限定されるものではなく、本発明の目的を達成できる範囲内での変形等は本発明に含まれるものである。
【０１６３】
すなわち、前記実施形態では、管理サーバ３０、企業人事システム６０、企業資産管理システム７０、株価情報提供システム８０、および株式売買システム９０は、それぞれ異なるコンピュータにより構成され、ネットワーク１や専用線２，３を介してデータの送受信を行うことにより互いの機能を発揮させる構成とされていたが、これらを一体化して一つのコンピュータにより各機能を実現してもよく、あるいはこれらのサーバ３０およびシステム６０，７０，８０，９０のうちの任意の複数個を組み合わせて一つのコンピュータにより各機能を実現してもよい。
【０１６４】
また、前記実施形態では、購入者端末装置２０は、インターネットやイントラネットやＬＡＮ等により構成されるネットワーク１を介して管理サーバ３０に接続され、遠隔地から購入申込やオプション権利行使請求を行うことができるようになっていたが、この購入者端末装置２０を、管理サーバ３０を構成するコンピュータに直接に接続することにより、遠隔地からのデータ入力を前提としない構成、つまりネットワーク１の使用を前提としない構成の資産形成支援システムとしてもよい。
【０１６５】
【発明の効果】
以上に述べたように本発明によれば、現物株およびコールオプションを組み合わせた購入、または現物株およびプットオプションを組み合わせた購入のうちのいずれかを従業員に選択させ、購入処理を実行するので、従業員が現物株およびコールオプション購入を選択した場合には、相場上昇により現物株購入のみの場合の利益以上の利益を得ることができ、一方、現物株およびプットオプション購入を選択した場合には、相場低迷に対するヘッジを行うことができるうえ、企業にとっては、従業員に選択の余地を与えることができるという効果がある。
【図面の簡単な説明】
【図１】本発明の一実施形態の資産形成支援システムの全体構成図。
【図２】前記実施形態における現物株およびオプション購入時の処理およびデータの流れの説明図。
【図３】前記実施形態におけるオプション権利行使時の処理およびデータの流れの説明図。
【図４】前記実施形態における現物株およびオプション購入時の処理の流れを示すフローチャートの図。
【図５】前記実施形態におけるオプション権利行使時の処理の流れを示すフローチャートの図。
【図６】現物株およびコールオプション購入を選択した場合（リスク許容型）の概略流れを示す説明図。
【図７】現物株およびコールオプション購入を選択した場合（リスク許容型）の損益状況を示す説明図。
【図８】現物株およびプットオプション購入を選択した場合（リスク回避型）の概略流れを示す説明図。
【図９】現物株およびプットオプション購入を選択した場合（リスク回避型）の損益状況を示す説明図。
【符号の説明】
１０ 資産形成支援システム
３１ 購入申込受付処理手段
３２ 現物株購入処理手段
３２Ａ 積立金集計手段
３２Ｂ 現物株購入処理用時価情報取得手段
３２Ｃ 購入株数算出手段
３２Ｄ 現物株購入実行処理手段
３３ オプション取引処理手段
３３Ａ オプション条件算定手段
３３Ｂ オプション取引許否判断手段
３４ オプション権利行使処理手段
３５ オプション情報提供手段
３６ 金庫株保有情報取得手段
３７ 天引き情報提供手段
３７Ａ 天引き処理用時価情報取得手段
３７Ｂ 比較手段
３７Ｃ オプション料補填処理手段
５１ 購入者データベース
５４ オプション情報データベース
５５ 企業側条件データベース
６１ 天引き処理手段[0001]
BACKGROUND OF THE INVENTION
The present invention relates to an asset formation support system, an asset formation support method, and a program for supporting asset formation of employees working for a company, for example, a stockholding association organized by employees and a securities company entrusted with its operation. It can be used as a funding system for employees that are operated and managed by
[0002]
[Background]
Conventionally, there are an employee stock ownership system and a stock option system as a system for forming assets of employees working for companies or a system for rewarding employees. The former Employee Stock Ownership Plan is a system that supports employees when they regularly purchase stocks of companies they work in and form assets over the medium to long term. Under this system, a stockholding association organized by employees collects the investment amount of each employee deducted from salary or bonus and serves as a window to purchase their own shares.
[0003]
On the other hand, the latter stock option system allows companies to acquire stock options (currently “stock acquisition rights”), which is the right to purchase their own shares at a fixed price. This is a system for employees only, and it is a system for gaining gains on stocks, just like shareholders.
[0004]
In addition, as a system to realize these systems, a stock option association is established, and it is not limited to company officers, employees, or subsidiaries, such as sales agents with franchise contracts. There is a system in which people from companies that do not have a capital relationship but handle their products are also union members, so that those who do not have a capital relationship can share interests and provide incentives to improve business performance ( Patent Document 1). This system operates stockholding associations by looking at stock options as cash stocks and does not use cash stocks.
[0005]
In addition, a system that automates stock option office procedures (see Patent Document 2), an employee stock ownership association office processing system that simplifies and automates employee shareholder office procedures (see Patent Document 3), a specific business division or subsidiary There is a tracking stock system (see Patent Document 4) that manages preferred stocks issued as parent company stocks in conjunction with business results. In addition, the system described in Patent Document 2 does not use the stock in stock, and the system described in Patent Document 3 is a normal stockholding system, and does not use options. The system described in 4 is a tracking stock system and does not use options.
[0006]
[Patent Document 1]
JP 2001-256352 A (paragraphs [0008] and [0010], FIGS. 20 to 22)
[Patent Document 2]
JP 2002-297886 (paragraphs [0010], [0011], FIG. 1)
[Patent Document 3]
JP 2002-32575 A (paragraphs [0011], [0012], FIG. 1)
[Patent Document 4]
JP 2002-318909 A (paragraph [0004], FIG. 2)
[0007]
[Problems to be solved by the invention]
However, in the conventional employee shareholding and stock option systems described above, employees cannot earn profits in an environment where market prices continue to decline, and the meaning of funding and asset formation, which is the original purpose, has faded. End up. On the other hand, companies may force employees to make unnecessary investments. In addition, since stock option rights are granted by the company, only certain persons can benefit from this system, and employees have no option to purchase rights.
[0008]
Furthermore, since the systems described in Patent Documents 1 to 4 described above are not necessarily provided with measures when the market price declines, they do not solve the above-mentioned problems, and from the viewpoint of employee asset formation. It is insufficient.
[0009]
While the above is a problem of asset formation mainly taking into account the profits of employees, the percentage of companies using the treasury stock system is increasing, and effective use of treasury stock is required. There is also a problem that companies face.
[0010]
An object of the present invention is to provide an asset formation support system, an asset formation support method, and a program that can be used by an employee as a means for effective and selective asset formation.
[0011]
[Means for Solving the Problems]
The present invention is an asset formation support system for supporting asset formation of employees who work for a company, which is a purchase that combines a physical stock of a company and a call option for the stock, or a put option for the physical stock of the company and the stock. The purchase application reception processing means that accepts purchase applications made by employees by selecting either of the purchases combined with and the purchaser accepts any option in the purchase application received by this purchase application reception processing means Purchase information including selected option type information, whether or not the stock holding information updated with the purchase of the physical stock after receiving the application, and the option holding information updated with the purchase of the option after receiving the application, A purchaser database that is stored separately for each employee who becomes a purchaser, and each employee who applied for purchase contributes Stored in the purchaser database according to the purchase information or planned purchase information of the physical stock by collecting the stock for purchasing the physical stock and purchasing the physical stock from the market, and the physical stock purchase processing means by this physical stock purchase processing means Based on the selected option type information of each purchaser, an option transaction processing means for performing an option transaction processing for purchasing a call option or a put option from a company for all the purchasers, and a purchaser database according to each purchaser's request And option option exercise processing means for performing a process associated with the exercise of the right of the call option or the put option based on the selected option type information and option holding information of each purchaser.
[0012]
Here, the “purchase application acceptance processing means” may directly receive information input by the employee operating the terminal via the network, and the information input by the employee operating the terminal may be received via the network. May be received via the company's system, and the person in charge of the company or other input agent who receives the information submitted by the employee (electronic information or information written on paper, etc.) operates the terminal. Thus, the input information may be received via a network. Or, instead of using a network, you may read information recorded on a recording medium such as a flexible disk or information entered on an OCR sheet created by an employee, company representative, or other input agent. Information input by an employee, a person in charge of a company, or another input agent may be received from input means such as a keyboard directly connected to the computer main body that performs the application receiving process.
[0013]
In addition, the “option holding information” included in the “purchasing information” stored in the “purchaser database” can be calculated from the “in-kind stock holding information” (for example, the option exercise price and the buying price of the in-kind stock) , And the same stock amount and the purchase ratio of cash stock to option may be 1: 1).
[0014]
The “spot stock holding information” and “option holding information” may be data directly indicating the holding amount of the actual stock (number of shares held) and the holding amount of the option (strike price and the number of shares), Alternatively, it may be data that indirectly indicates these holding amounts. The latter indirect data is, for example, monthly reserves for purchase of spot stocks for each purchaser, and the purchase price per share (market price) at the time of each purchase of spot stocks by the spot stock purchase processing means. ) Is stored as separate data, it can be used to convert the indirectly shown data into the actual holding amount.
[0015]
Furthermore, the “purchaser database” may be composed of a plurality of databases. For example, the selected option type information, the stock holding information, and the option holding information may be stored in different databases. The “purchaser database” may store information other than the selected option type information, the stock holding information, and the option holding information. Further, the performance of each employee may be stored.
[0016]
And “purchase information or planned purchase information of actual stock by the actual stock purchase processing means” means that after purchasing the actual stock by the actual stock purchase processing means, the option according to the actual purchase information The option transaction processing means may be used for option trading, or the option stock processing means may be used for option trading according to the purchase schedule information before the actual stock purchase processing means is purchased. is there. However, from the viewpoint of further ensuring the balance between the purchase of the spot stock and the option purchase, the option transaction is preferably performed after the actual stock is actually purchased.
[0017]
“According to the purchase information or planned purchase information of physical stock” means “purchasing price per physical stock, the number of purchased stocks, or the total purchase price (purchasing price per share × purchasing”). The number of shares) or the planned price or the number of shares, that is, proportionally, that is, in proportion, to determine the option strike price, the number of shares purchased, or the total purchase price (option strike price x number of shares purchased). In addition, the ratio at this time may be a ratio determined in advance by the system, or may be a ratio designated by each purchaser at the time of purchase application, for example, purchase of physical stock: option purchase = 1: 1, etc. .
[0018]
Further, “according to each purchaser's request” means that the determination as to whether or not to exercise the option right is only a matter of choice for each purchaser.
[0019]
In such an asset formation support system of the present invention, an employee who wants to perform asset formation purchases a combination of a cash stock of the company where he / she works and a call option for the stock, or puts a cash stock and the stock. A purchase application is made by selecting one of the purchases combined with the option, and this application is received by the purchase application reception processing means. Then, according to the contents of the application, the purchase of the cash stock by the cash stock purchase processing means and the purchase of the call option or the put option by the option transaction processing means are performed as a set, and the option is selected according to each buyer's individual request. The option right is exercised by the right processing means.
[0020]
For this reason, if the employee chooses to purchase spot stock and call option, it is possible to obtain a profit that is higher than that of the case of purchasing spot stock alone due to the market price increase (see Fig. 7 below). When stock and put option purchase is selected, it becomes possible to hedge against a weak market (see Fig. 9 described later).
[0021]
Therefore, for employees, either the former risk-acceptable purchase option is used to obtain a large profit when the market price rises, or the latter risk-avoidance type purchase option is selected, and when the market price rises, it is equivalent to the case of purchasing only stocks. You can choose whether to avoid risks when the market price declines while gaining profits, so you can choose an investment method that suits your circumstances and form assets in a more advantageous manner.
[0022]
On the other hand, for companies, there is room for employees to choose, and if employees choose to buy cash stocks and put options, they risk the stock price drop even if the market is sluggish. This also achieves the above object.
[0023]
In addition, in the asset formation support system described above, the reserve for purchasing stocks that each employee contributes every month and the option fee that each employee pays every month are provided to the company as deduction information from each employee's salary or bonus. The deduction information providing means includes deduction processing market price information acquisition means for obtaining the current market price information of the stock used for deduction processing, and the actual stock acquired by the deduction processing market price information acquisition means. The comparison means comparing the current market price and the exercise price of the call option derived from the option holding information stored in the purchaser database, and this comparison means that the market price of the stock was lower than the exercise price of the call option. In some cases, the option fee paid by each employee is reduced or exempted for the amount corresponding to that month. It is desirable that is configured to include a option fee compensation processing means for performing option fee compensation processing to the burden.
[0024]
Here, “the exercise price of the call option derived from the option holding information” means the average value of the exercise price of all or some of the call options held by the employee.
[0025]
In addition, the option fee may be reduced or exempted according to, for example, employee performance.
[0026]
When the option fee is compensated in this way, the burden on the employee when the stock price falls can be reduced, so that the employee can perform asset formation in a more advantageous manner.
[0027]
Further, the asset formation support system described above includes a company-side condition database that stores conditions on the company side when option trading is performed, and the option transaction processing means is the purchase information or the purchase schedule of the spot stock by the spot stock purchase processing means. Depending on the information, based on the option type information of each purchaser stored in the purchaser database, the option price exercise price condition, the number of shares purchased, the condition of the total purchase price multiplied by the option price exercise price and the number of shares purchased An option condition calculation means for calculating an option condition for all purchasers, including any of the conditions for the period until maturity, the option fee, or a combination thereof; The option calculated by the option condition calculation means based on the company's conditions stored in the condition database. It is desirable that is configured to include a options trading permission determining means for options trading in ® emission condition is determined whether companies is acceptable.
[0028]
Here, “Calculate option conditions for all purchasers” means that the total amount and total number of options purchased by each purchaser are obtained for all purchasers, and the company side uses the total amount and total number. The purpose is to make a comparison with the above conditions.
[0029]
In addition, if it is determined that the option transaction permission / refusal determination means cannot accept the transaction, the transaction may be unsuccessful, or the option condition calculation means may recalculate the option condition, and the option transaction permission / rejection determination means may again determine the permission / refusal. May be.
[0030]
In this way, when it is configured to include the option condition calculation means and option transaction acceptance / rejection judgment means, the company's conditions, for example, how many shares or more are unacceptable, how much amount (total purchases and exercise of rights) It is possible to carry out option trading in consideration of conditions such as acceptable if trading up to (price).
[0031]
In the asset formation support system described above, the option information database for accumulating and storing option information related to the transaction established by the processing by the option transaction processing means, and the unexercised option accumulation information stored in the option information database are stored in the company. It is desirable to have a configuration including optional information providing means to be provided.
[0032]
Here, the “option information” includes, for example, the call or put option type, the option exercise price, the number of shares purchased, the total purchase price (option exercise price x the number of shares purchased), the option fee, the period until maturity, and the maturity date. The transaction establishment date and the like are included, and this information is stored in the “option information database” as information including all purchasers.
[0033]
In the case of the configuration including the option information database and the option information providing means as described above, the company can provide unexercised option accumulation information to the company side. It becomes possible to determine how much the amount of possession should be.
[0034]
In addition, the asset formation support system described above includes a treasury stock holding information acquisition means for acquiring the stock holding information of the company's own stock held as treasury stock, and the option right exercise processing means increases or decreases the treasury stock held by the enterprise. The option information providing means compares the treasury stock holding information acquired by the treasury stock holding information acquisition means with the unexercised option storage information stored in the option information database. It is desirable to provide the company with information on excess / shortage of treasury stock.
[0035]
Here, the “safe stock holding information acquisition means” may acquire the safe stock holding information directly from the treasury stock database of the asset management system in the company, or information on the treasury stock database of the asset management system in the enterprise. It is possible to prepare a treasury stock database that is created and updated based on the above and to obtain treasury stock holding information from the database.
[0036]
In this way, when it is configured to provide information on excess / deficiency of treasury stocks to companies, it is useful for managing treasury stock holdings for companies that use treasury stocks to process option rights. Information can be provided, and companies can prepare for the exercise of option rights of employees.
[0037]
Furthermore, in the asset formation support system described above, the cash stock purchase processing means calculates the total amount of the cash stock purchase reserve contributed by a plurality of employees who have applied for purchase, Cash value acquisition means for acquiring stock prices used for processing the purchase of cash stocks, and stocks acquired by means of tabulation results obtained by means of collecting funds and cash price information acquisition means for cash stock purchase processing. Purchasing stock number calculating means for calculating the number of units of physical stock to be purchased from the market based on the current market price information, and physical stock purchase execution processing means for performing processing for purchasing the number of physical stocks calculated by the purchased stock number calculating means. It is desirable to be configured.
[0038]
In the case where the physical stock purchase processing means includes the reserve counting means, the stock price purchase processing market price information acquisition means, the number of purchased stock calculation means, and the physical stock purchase execution processing means, conventionally, This makes it possible to quickly process the procedure for purchasing physical stocks.
[0039]
As a method realized by the asset formation support system described above, the following asset formation support method of the present invention can be cited.
[0040]
That is, the present invention is an asset formation support method for supporting the asset formation of employees who work for a company, wherein the purchase application reception processing means combines a physical stock of the company and a call option for the stock or a company The employee accepts a purchase application made by selecting one of the purchases of a combination of the actual stock of the stock and the put option for this stock, and the employee selects which option by the purchase application received by the purchase application acceptance processing means. Purchase information including selected option type information indicating whether or not a stock has been selected, stock holding information updated with the purchase of physical stock after application acceptance, and option holding information updated with purchase of an option after acceptance of application Is stored in the purchaser database individually for each employee who becomes the purchaser, Collecting stock for purchasing stock shares contributed by each employee who applied for purchase and purchasing stock shares from the market. Depending on the information, based on the option type information of each purchaser stored in the purchaser database, option transaction processing for purchasing call options or put options from companies for all purchasers is performed, and then option rights are exercised. The processing means performs processing associated with the exercise of the right of the call option or the put option based on the selection option type information and option holding information of each purchaser stored in the purchaser database according to each purchaser's request. It is a feature.
[0041]
In such an asset formation support method of the present invention, when an employee chooses to purchase cash stocks and call options, it is possible to obtain a profit that is higher than the profit of only cash stock purchases due to the market price increase ( On the other hand, if cash stocks and put option purchases are selected, it becomes possible to hedge against a weak market (see FIG. 9 to be described later). The actions and effects obtained by the system can be obtained as they are. In other words, the effect that employees can select the former risk-acceptable purchase or the latter risk-avoidance purchase, the asset formation effect in a more advantageous form by selecting an investment method that suits their circumstances, The effect of granting the right of choice to the employee and the effect of reducing the burden on the employee when the market price declines are obtained, and the above-described object is achieved.
[0042]
In addition, in the asset formation support method described above, the total purchase price or the planned total purchase price or the total number of purchased shares or the planned number of shares purchased by the physical stock purchase processing means, and the total purchase price or the total planned purchase price or the total number of purchased shares of the option transaction processing means. Alternatively, the ratio with the planned number of shares to be purchased may be 1: 1.
[0043]
As described above, when the ratio between the purchase of stocks and the purchase of options is set to 1: 1, the employee can make a balanced investment.
[0044]
Furthermore, in the asset formation support method described above, the total purchase price or the total purchase price or the total number of purchased or planned shares of the physical stock by the physical stock purchase processing means, and the total purchase price or the planned total purchase price or the total number of purchased shares of the option transaction processing means. Alternatively, the ratio with the planned number of shares to be purchased may be a ratio determined in advance by the system.
[0045]
In this way, if the ratio of cash stock purchases and option purchases is set as a ratio determined in advance by the system, employees can make advantageous asset formation without taking the time to determine the ratio themselves. It becomes possible.
[0046]
Then, in the asset formation support method described above, the total purchase price or planned purchase price or the total number of purchased shares or the planned number of shares purchased by the actual stock purchase processing means, and the total purchase price or planned purchase price or the total number of purchased shares of the option transaction processing means. Alternatively, the ratio with the planned number of shares to be purchased may be a ratio designated by each purchaser when applying for purchase.
[0047]
In this way, if the ratio between the purchase of physical stock and option purchase is the ratio specified by each purchaser at the time of purchase application, the selectivity given to the employee is further enhanced, and the employee can It becomes possible to make an investment that more closely matches the judgment.
[0048]
In addition, in the asset formation support method described above, the reserve for purchase of physical stock that each employee contributes every month and the option fee that each employee pays each month are deducted from each employee's salary or bonus by the company's deduction processing means. It is desirable that
[0049]
In this way, if the reserve for purchasing stocks and option fees are deducted from salaries or bonuses, it will be possible to collect funds for purchasing stocks smoothly as in the case of conventional shareholding associations. In addition, since the payment is made on a monthly basis, it is possible to equalize the option fee to be paid every month by the dollar cost averaging method. Moreover, since not only spot stock purchase but also option purchase is combined, it is possible to reduce the monthly deduction amount and reduce the financial burden.
[0050]
Furthermore, in the asset formation support method described above, when performing the deduction processing by the deduction processing means, after acquiring the current market price information by the deduction processing market price information acquisition means, the comparison means by the deduction processing market price information. Compare the market price of the physical stock acquired by the acquisition means with the strike price of the call option derived from the option holding information stored in the purchaser database. If it is determined that the amount has fallen below, the option fee compensation processing means will reduce or exempt the option fee paid by each employee for the amount corresponding to the month below the month, and perform option fee compensation processing to cover the company's burden. Is desirable.
[0051]
When option fees are compensated in this way, the burden on employees when stock prices fall is reduced.
[0052]
In the asset formation support method described above, the conditions on the company side when performing option trading are stored in the company condition database, and when option transaction processing is performed by the option transaction processing means, the option condition calculation means Based on the purchase option information of each purchaser stored in the purchaser database according to the purchase information or planned purchase information of the physical stock by the physical stock purchase processing means, the option exercise price condition, the purchased stock condition, For all purchasers that include any of the following conditions: the total purchase price multiplied by the option exercise price and the number of shares purchased, the period until maturity, the option fee, or a combination of these The option condition for the company is calculated, and then the option condition determination means is used to determine the condition condition database Based on the stored corporate side conditions, it is desirable to determine whether the option trading in options conditions was estimated by optional condition calculating means companies are acceptable.
[0053]
As described above, when it is determined whether the company can accept the option transaction, the option transaction can be performed in consideration of the circumstances of the company.
[0054]
In the asset formation support method described above, when the option right exercise processing means executes the option right exercise, the company's own stock held as treasury stock may be increased or decreased.
[0055]
In this way, if the treasury stock is increased / decreased and the processing associated with the exercise of option rights is performed, the company will hand over the treasury stock to the employee in the case of a call option (see FIG. 6 described later), On the other hand, in the case of the put option, it is possible to make a settlement by receiving the employee's holding and making it a treasury stock (see FIG. 8 described later), and the treasury stock can be used effectively.
[0056]
In addition, as described above, when processing with the exercise of option rights is performed by increasing or decreasing treasury stock, option information related to transactions established by processing by option trading processing means is stored and stored in the option information database, After obtaining the treasury stock holding information held by the information acquisition means, the option information providing means obtains the treasury stock holding information obtained by the treasury stock holding information acquisition means and the unexercised information stored in the option information database. It is desirable to provide information on excess / shortage of treasury stocks to companies by comparing with option storage information.
[0057]
In this way, if the company is provided with information on excess / deficiency of treasury stock, the company can take necessary measures in preparation for the option right of the employee.
[0058]
In the asset formation support method described above, option information relating to the transaction established by the processing by the option transaction processing means is accumulated and stored in the option information database, and the unexercised options stored in the option information database by the option information providing means. It is desirable to provide accumulated information to companies. In this case, whether or not a company uses treasury stock is optional for the exercise of option rights by employees.
[0059]
In this way, regardless of whether the company uses treasury stock or not, if the company provides information on the accumulation of unexercised options to the company, the company will take necessary measures to prepare for the exercise of option rights by employees. It is possible to take.
[0060]
Further, the present invention is a program for causing a computer to function as an asset formation support system for supporting asset formation of employees working at a company, and is a purchase that combines a physical stock of a company and a call option for the stock. Or purchase application reception processing means for accepting purchase application by employees selected by selecting either a combination of the company's physical stock and a put option for this stock, and this purchase application reception processing means Selection option type information indicating which option was selected by the employee in the purchase application, physical stock holding information updated with the purchase of physical stock after application acceptance, and update with purchase of option after application acceptance Purchase information including optional holding information to be stored individually for each employee who became a purchaser Purchasing stocks by means of the stock database, the stock purchase processing means for collecting the stocks from the market by collecting the stock for purchasing stocks contributed by each employee who applied for the purchase, and the stock purchase by the stock purchase processing means. Option transactions that process call options or put options from companies for all purchasers based on the selected option type information of each purchaser stored in the purchaser database according to information or purchase schedule information An option right to perform processing associated with the exercise of the call option or put option right based on the processing option and the selected option type information and option holding information of each purchaser stored in the purchaser database according to each buyer's request As an asset formation support system characterized by having exercise processing means, It is intended for causing a computer.
[0061]
The above-mentioned program or a part thereof is, for example, a magneto-optical disk (MO), a read-only memory (CD-ROM) using a compact disk (CD), a CD recordable (CD-R), a CD rewritable (CD -RW), read-only memory (DVD-ROM) using digital versatile disk (DVD), random access memory (DVD-RAM) using DVD, flexible disk (FD), magnetic tape, hard disk, It can be recorded on storage media such as read-only memory (ROM), electrically erasable and rewritable read-only memory (EEPROM), flash memory, and random access memory (RAM) for storage and distribution. And, for example, a local area network (LA ), A metropolitan area network (MAN), a wide area network (WAN), a wired network such as the Internet, an intranet, or an extranet, or a wireless communication network, or a combination thereof. It is also possible to carry it on a carrier wave. Furthermore, the above program may be a part of another program, or may be recorded on a recording medium together with a separate program.
[0062]
DETAILED DESCRIPTION OF THE INVENTION
An embodiment of the present invention will be described below with reference to the drawings. FIG. 1 shows the overall configuration of an asset formation support system 10 of the present embodiment. FIG. 2 is an explanatory diagram of processing and data flow when purchasing stocks and options, and FIG. 3 is an explanatory diagram of processing and data flow when exercising option rights. FIG. 4 is a flowchart showing the flow of processing when purchasing stocks and options, and FIG. 5 is a flowchart showing the processing flow when exercising option rights. Further, FIG. 6 shows a schematic flow when cash equity and call option purchase is selected (risk tolerance type), and FIG. 7 shows a profit / loss situation in this case. On the other hand, FIG. 8 shows a schematic flow in the case of selecting cash stock and put option purchase (risk avoidance type), and FIG. 9 shows the profit / loss situation in this case.
[0063]
The asset formation support system 10 is a system for supporting the asset formation of employees who work at a company, and is an arbitrary organization (hereinafter referred to as “manager”) organized by employees, like a conventional holding association. Is a system that is operated, maintained, and managed with the cooperation of companies. The administrator manages the system 10 in an integrated manner, and performs an operation in which an option transaction with a company (in-house) is added to the company's own share purchase operation that has been performed by the stockholding association. The administrator may entrust operation / maintenance / management of all or part of the system 10 to a securities company or the like.
[0064]
First, before describing the detailed configuration and functions of the asset formation support system 10, an outline of processing and work performed in the asset formation support system 10 will be described with reference to FIGS.
[0065]
In Figure 6, if an employee chooses to purchase a combination of a company's (in-house) physical stock and a call option for this stock, the manager acts as a contact to periodically purchase the stock from the market. At the same time, it makes option transactions with companies and purchases call options from companies. At this time, the manager purchases the physical stock and the option at a certain ratio (for example, 1: 1).
[0066]
When the employee exercises the right of the call option, in this embodiment, in principle, the treasury stock held by the company is transferred to the manager and becomes the holding owned by the employee. In addition, reserves for purchasing stocks and option fees (also referred to as premiums) are deducted from employee salaries or bonuses and paid monthly. In certain cases, option fee compensation is provided, and the company pays all or part of the option fee.
[0067]
On the other hand, in FIG. 8, if an employee chooses to purchase a combination of a company's (in-house) physical stock and a put option for this stock, the manager acts as a window to periodically market the stock. In addition to purchasing from the company, conduct option transactions with the company and purchase put options from the company. At this time, the manager purchases the physical stock and the option at a certain ratio (for example, 1: 1).
[0068]
When an employee exercises the put option right, in principle, in this embodiment, the shares held by the employee managed by the manager are transferred to the company, and the treasury shares held by the company and Become. In addition, reserves and option fees for purchasing stocks are deducted from employee salaries or bonuses and paid monthly.
[0069]
Next, a detailed configuration and function of the asset formation support system 10 will be described.
[0070]
In FIG. 1, an asset formation support system 10 includes one or a plurality of purchaser terminal devices 20 operated by each employee who becomes a purchaser or a purchaser, and various types of support for asset formation support for employees. A management server 30 that performs processing and data management, a corporate personnel system 60, a corporate asset management system 70, a stock price information providing system 80, and a stock trading system 90 are configured.
[0071]
Each purchaser terminal device 20, management server 30, stock price information providing system 80, and stock trading system 90 are connected by a network 1. The network 1 includes, for example, the Internet, an intranet in a company where each employee works, a LAN in each department, an intranet in a securities company or the like entrusted with the operation, maintenance, and management of the system 10 by an administrator. In addition, various forms such as MAN, WAN, extranet, etc. may be adopted, whether wired or wireless, or wired and wireless. Regardless of whether it is a mixed type or not, in short, it is sufficient if information can be transmitted at a certain speed between a plurality of points (regardless of the length of the distance). The connection between the management server 30 and the stock price information providing system 80 and the connection between the management server 30 and the stock trading system 90 may be made by a dedicated line.
[0072]
The connection between the management server 30 and the corporate personnel system 60 and the connection between the management server 30 and the corporate asset management system 70 are made through dedicated lines 2 and 3. These connections may be made through the network 1 as long as security problems do not occur.
[0073]
The purchaser terminal device 20 is a terminal device for an employee to perform an input operation including a purchase application and an option right exercise request. The purchaser terminal device 20 is mainly realized by a computer, but is a mobile phone (including PHS) or a portable information terminal. It may be a portable terminal device such as (PDA). The purchaser terminal device 20 is provided with input means such as a keyboard and a mouse and display means such as a liquid crystal display and a CRT display. Moreover, the installation location of the purchaser terminal device 20 is, for example, the department in the company where the employee works, the home of the employee, or the like. In addition, when an employee receives an input, the installation location of the terminal device operated by the input agent is, for example, a person in charge in the company (a task of collecting purchase applications from each employee, etc. A securities company entrusted with the operation, maintenance, and management of the system 10 by the administrator.
[0074]
The management server 30 is configured by a computer, and includes processing means 30A for performing various processes for supporting asset formation of employees, a purchaser database 51, a reserve database 52, and a cash stock database 53 connected to the processing means 30A. , An option information database 54 and a company condition database 55 are provided. The management server 30 is operated, maintained, and managed by an administrator, but the administrator may entrust operation, maintenance, and management of the management server 30 to a securities company or the like.
[0075]
The processing means 30A includes a purchase application acceptance processing means 31, an actual stock purchase processing means 32, an option transaction processing means 33, an option right exercise processing means 34, an option information providing means 35, and a treasury stock holding information acquiring means 36. And a deduction information providing means 37.
[0076]
The purchase application reception processing means 31 selects either a purchase combining a corporate physical stock and a call option for the stock, or a purchase combining a corporate physical stock and a put option for the stock. To receive a purchase application from the purchaser terminal device 20 by the employee.
[0077]
Further, the purchase application reception processing means 31 stores information related to the received purchase application in the purchaser database 51 and performs a process of delivering to the deduction information providing means 37. The information related to the purchase application includes selection option type information indicating whether the call option or the put option has been selected. For example, the amount of reserve for purchasing the stock in each month, the amount of reserve at the time of bonus, the spot Designated information on the purchase ratio of stocks and options is included as necessary.
[0078]
The physical stock purchase processing means 32 collects the stock for purchasing physical stock contributed by each employee who applied for purchase and performs processing for purchasing physical stock from the market. The physical stock purchase processing means 32 includes a reserve fund totaling means 32A for calculating the total amount of the stock for purchasing physical stock contributed by a plurality of employees who have applied for purchase, and for the purchase processing of physical stock. Based on the market price information acquisition means 32B for cash stock purchase processing for acquiring the market price information of the actual stock to be used, the result of counting by the fund totaling means 32A, and the market price information of the cash stock acquired by the market price information acquisition means 32B for cash stock purchase processing A purchase stock number calculation means 32C for calculating the number of units of a physical stock to be purchased from the market; and a physical stock purchase execution processing means 32D for performing a purchase process of the physical stock of the number of units calculated by the purchase stock number calculation means 32C. It is configured.
[0079]
The accumulated money counting means 32A refers to the accumulated money database 52 and performs a process of totaling the accumulated money of each purchaser accumulated from the previous purchase to the current purchase.
[0080]
The stock price purchase processing market price information acquisition unit 32 </ b> B performs processing for acquiring the market price information of the company stock from the stock price information providing system 80.
[0081]
The number-of-stocks calculation means 32C divides the total amount of the reserves for purchasing all the stocks calculated by the reserve totaling means 32A by the market price acquired by the market price information acquisition means 32B for spot stock purchase processing. Let the value obtained be the number of purchase units. Then, since the calculated number of purchased units is the total number of all members, the manager serves as a window, and the total number of actual stocks is collectively procured by the actual stock purchase execution processing means 32D. The surplus will be used for the next purchase.
[0082]
The physical stock purchase execution processing means 32D includes a physical stock ordering means 32E and a physical stock purchase information acquiring means 32F. The physical stock ordering means 32E transmits information on the number of purchased units and purchased brands (in-house stock) to the stock trading system 90 and performs processing for purchasing physical stock, and the physical stock purchase information acquiring means 32F is actually sent from the market. The purchase information about the purchased stock is acquired from the stock trading system 90. The purchase information acquired from the stock trading system 90 includes the name of the purchased physical stock, the purchase price per share, the number of shares purchased, the total purchase price (purchase price per share x the number of shares purchased), the purchase date and time, and the like.
[0083]
In addition, the physical stock purchase information acquisition unit 32F stores the purchase information acquired from the stock trading system 90 in the physical stock database 53, and each of the purchase information according to the ratio of the reserve fund contributed by each purchaser. Processing to store the personal equivalent in the purchaser database 51 is performed.
[0084]
The option transaction processing means 33 selects all the purchasers based on the selected option type information of each purchaser stored in the purchaser database 51 in accordance with the purchase information or purchase schedule information of the physical stock by the physical stock purchase processing means 32. The option transaction processing for purchasing the call option or the put option from the company for the portion is performed. These call options or put options are made in-store options between the employee and the company in which the employee works. The option transaction processing unit 33 includes an option condition calculation unit 33A and an option transaction permission / rejection determination unit 33B.
[0085]
The option condition calculation means 33A is based on the selected option type information of each purchaser stored in the purchaser database 51 in accordance with the purchase information or purchase schedule information of the actual stock by the actual stock purchase processing means 32. Units that summarize the minutes (the total value such as the total amount and the total number of shares, etc., but the common values may be used for elements that are common to all purchasers, such as the exercise price) Perform processing to calculate optional conditions. Option conditions are the option strike price condition, the number of shares purchased, the total purchase price multiplied by the option strike price and the number of shares purchased, the period until maturity, the option fee condition, or a combination of these conditions Any one of the conditions is included.
[0086]
The option transaction permission / refusal determination means 33B determines whether or not the company can accept the option transaction under the option condition calculated by the option condition calculation means 33A based on the company condition stored in the company condition database 55. Process. The company's conditions include, for example, how many shares or more are unacceptable, what amount of money (total purchase price or strike price) is acceptable, long / short tolerance range, options for maturity This includes conditions such as the rate of difference between the strike price and the market price, and the difference.
[0087]
Further, the option transaction permission / refusal determination means 33B stores option information on the transaction established by the permission determination in the option information database 54, and each of the option information according to the ratio of the reserve fund contributed by each purchaser. Processing to store the personal equivalent in the purchaser database 51 is performed.
[0088]
The option right exercising processing means 34 accompanies the exercise of the right of the call option or the put option based on the selection option type information and option holding information of each purchaser stored in the purchaser database 51 according to each purchaser's request. The processing is performed. The option right exercise processing means 34 includes an option exercise deadline monitoring means 34A, an option exercise deadline notification means 34B, a right exercise request reception processing means 34C, an option right content confirmation means 34D, a treasury stock confirmation means 34E, An execution processing unit 34F and an option execution processing notification unit 34G are included.
[0089]
The option exercise deadline monitoring means 34A refers to the option information database 54, monitors the expiration date of each option, and performs processing for grasping the option that is about to expire.
[0090]
The option exercise deadline notifying unit 34B performs a process of notifying each purchaser of the option that the maturity date is approaching by the option exercise deadline monitoring unit 34A. Notification is performed by e-mail or the like, for example, and each purchaser receives and browses the notification at the purchaser terminal device 20 operated by the purchaser. In addition to notification by e-mail or the like, notification by facsimile transmission, telephone contact, mailing a document, posting on a bulletin board, posting in an in-house newsletter, etc. may be performed.
[0091]
The right exercise request acceptance processing means 34C performs processing for accepting an option right exercise request from the purchaser terminal device 20 by each purchaser.
[0092]
The option right content confirmation unit 34D refers to the option information database 54 and the purchaser database 51 and performs processing for confirming the content of the option requested by each purchaser. Specifically, for example, the option information database 54 is referred to determine whether the option relating to the exercise of the right is within the exercise deadline or the purchaser database 51 is referred to regarding the exercise of the right. Determine the type of option selected, calculate the amount of option exercise (exercise price x number of shares) by referring to the purchaser database 51, or refer to the purchaser database 51 Processing to determine whether the option is an unexercised option is performed.
[0093]
The treasury stock confirmation means 34E accesses the corporate asset management system 70, receives the treasury stock holding information stored in the treasury stock database 72 from the treasury stock management means 71, grasps it, and executes an option related to the exercise of rights. When performing the process, a process is performed to determine whether or not the treasury stock can cope.
[0094]
The right exercise execution processing means 34F performs a process of executing the option right exercise requested individually from each purchaser. The right exercise execution processing means 34F accesses the corporate asset management system 70 as a process for the company side when the amount of treasury stock held is necessary, and issues a command to the treasury stock management means 71 to issue the treasury stock database 72. Increase or decrease the amount of treasury stock held in On the other hand, as the processing for the employee side, the holding amount of the employee's holdings (the holdings of all the purchasers managed by the manager) stored in the physical stock database 53 is increased or decreased and stored in the purchaser database 51. In addition, increase or decrease the data of only the purchaser who exercised the right in the stock holding information of each purchaser. Accordingly, the processing by the right exercise execution processing means 34F is performed in principle by current delivery from the treasury stock to the employee holding or current delivery from the employee stock to the treasury stock.
[0095]
Further, after exercising the option right exercise execution process, the right exercise execution processing means 34F deletes the option information for the exercised right from the option information stored in the option information database 54, and stores the unexercised option storage information. Is updated, and from the data of the purchaser who has exercised the rights in the option holding information of each purchaser stored in the purchaser database 51, processing for reducing the option holding amount for the amount of rights exercised is performed.
[0096]
The option execution process notifying unit 34G performs a process of notifying the purchaser who has requested the right exercise that the execution process of the option right exercise has been completed. The notification is performed by e-mail or the like, for example, and the purchaser receives and browses the notification at the purchaser terminal device 20 operated by the purchaser. In addition to notification by e-mail or the like, notification by facsimile transmission, telephone contact, written mail, or the like may be performed.
[0097]
The option information providing means 35 performs processing for providing the company with unexercised option storage information stored in the option information database 54, and also holds the treasury stock holding information obtained by the treasury stock holding information obtaining means 36, and the option information database. The unexercised option storage information stored in 54 is compared, and the process of providing the excess / deficiency information of the treasury stock to the company is also performed. At this time, the unexercised option storage information and the excess / shortage information of the treasury stock are transmitted from the option information providing means 35 and stored and stored in a storage means (not shown) of the corporate asset management system 70. Or may be used for processing by the corporate asset management system 70 or other in-company systems, or a corporate asset manager in charge of the corporate asset management system 70 terminal device ( The management server 30 is accessed by operating (not shown), the unexercised option storage information stored in the option information database 54 is acquired from the option information providing means 35, or the treasury stock excess / deficiency information storage means of the management server 30 is obtained. You may make it acquire the excess / deficiency information of the treasury stock memorize | stored in (not shown). Further, the option information providing means 35 transmits unexecuted option storage information and excess / shortage information of treasury stocks by e-mail or the like, for example. ) May be viewed.
[0098]
The treasury stock holding information acquisition means 36 accesses the corporate asset management system 70 and holds the treasury stock holding information stored in the treasury stock database 72 from the treasury stock management means 71 (holding of own stock held by the enterprise as treasury stock). Information). The management server 30 also has another treasury stock database (not shown) created and updated based on the information in the treasury stock database 72 of the corporate asset management system 70. Information may be acquired.
[0099]
The deduction information providing means 37 performs a process of providing the company with the reserve for purchasing the stock shares contributed by each employee and the option fee paid by each employee every month as deduction information from each employee's salary or bonus. Is. The deduction information providing unit 37 includes a deduction processing market price information acquisition unit 37A, a comparison unit 37B, and an option fee compensation processing unit 37C.
[0100]
The deduction processing market price information acquisition means 37A performs a process of acquiring the market price information of the cash stock (in-house stock) used for the deduction processing from the stock price information providing system 80.
[0101]
The comparison unit 37B performs a process of comparing the market price of the cash stock acquired by the market price information acquisition unit 37A for deduction processing and the strike price of the call option derived from the option holding information stored in the purchaser database 51. The call option strike price is, for example, when the ratio of purchase of cash stock to call option purchase is 1: 1 and the call option strike price is the market price at the time of purchase of cash stock. The average purchase price of the physical stock purchased, or during a certain period (during that period when the call options that can be claimed for each call option purchased every month or every several months are divided by a certain period) The average purchase price of the purchased physical stock, or the purchase price of the physical stock purchased at a certain time (however, it is preferable that one or more shares are purchased) is obtained.
[0102]
The option fee compensation processing means 37C reduces the option fee paid by each employee for the month corresponding to the month when the market price of the cash stock falls below the strike price of the call option by the comparison means 37B. Alternatively, an option fee compensation process is performed to exempt the company from paying the burden. At this time, the degree of reduction or exemption may be determined in accordance with, for example, the employee's achievements, years of service, title, salary or bonus amount. More specifically, the option fee compensation processing means 37C is deducted from the employee's salary or bonus when the comparison means 37B determines that the market price of the physical stock falls below the exercise price of the call option. The change information is generated, and the change information is transmitted to the corporate personnel system 60 so that it can be used for the deduction processing by the deduction processing means 61. In the above case, when the option fee compensation processing means 37C creates the option fee change information, the company personnel system 60 is accessed, and an employee assessment database (not shown) provided in the company personnel system 60 or the employee Information such as employee work record database may be acquired, and the degree of reduction or exemption may be determined based on the acquired information, or the employee's performance etc. may be stored in the purchaser database 51 based on this The degree of relief or exemption may be set.
[0103]
The purchaser database 51 includes information on purchase applications received by the purchase application reception processing means 31, information on holdings of physical stocks for each purchaser purchased by the physical stock purchase processing means 32, and option transactions. The option holding information for each purchaser purchased by the processing means 33 is stored and saved as purchase information for each purchaser. As described above, the information regarding the purchase application includes selection option type information indicating which option the employee has selected.
[0104]
The physical stock holding information includes the purchase time for each purchase processing by the physical stock purchase processing means 32, the purchase price per stock (the current market price at the time of purchase), the number of purchased stocks, the total purchase price (1 share) Per purchase price × the number of purchased shares) and the like, and also includes cumulative information of each purchase process (cumulative purchased stock, cumulative total purchase amount). Therefore, the average purchase price per share can be easily calculated by dividing the total accumulated purchase price by the cumulative number of shares purchased. This physical stock holding information is updated every time purchase processing is performed by the physical stock purchase processing means 32, and the actual stock holding information between the company's treasury stock and the employee's holdings in accordance with the processing by the option right exercising processing means 34. Updated each time a delivery is made.
[0105]
The option holding information includes information such as the purchase timing for each purchase process by the option transaction processing means 33, the exercise price for the purchased option, the number of shares purchased, the total purchase price (exercise price x number of shares purchased), Furthermore, the cumulative information of each purchase process (cumulative purchased stock number, cumulative total purchase amount) is also included. Accordingly, the average strike price is easily calculated by dividing the total purchase total by the cumulative number of shares purchased. For example, if the ratio of purchase of spot stock to option purchase is 1: 1 and the option strike price is the market price at the time of purchase of spot stock, the option strike price and spot share 1 at the time of each purchase process. The stock purchase price (market price) is the same, the number of shares purchased and the total purchase price are also the same, and the option's average strike price and the average purchase price are the same. Stock ownership information can be substituted. This option possession information is updated every time purchase processing is performed by the option transaction processing means 33, and is updated whenever there is execution processing of right exercise by the option right exercise processing means 34.
[0106]
The reserve money database 52 stores the reserves for purchasing the stocks of each purchaser accumulated from the time of the previous purchase processing by the cash stock purchase processing means 32 to the time of the current purchase processing.
[0107]
The physical stock database 53 accumulates and stores purchase information (information including all purchasers) of the physical stock purchased by the physical stock purchase processing means 32, and the purchase information stored here includes: Includes purchase price per share, total number of shares purchased for all purchasers, total purchase price for all purchasers (purchase price per share x number of shares purchased for all purchasers), purchase date and time, etc. It is. The information stored in the physical stock database 53 is updated every time the purchase processing by the physical stock purchase processing means 32 is performed, and in addition to the processing by the option right exercising processing means 34, the company's treasury stock and employee holdings. It is updated each time the current delivery is performed.
[0108]
The option information database 54 accumulates and stores option information (information including all purchasers) related to the transaction established by the processing by the option transaction processing means 33 every time. This option information includes, for example, call or put option type, option strike price, the total number of shares purchased for all purchasers, and the total purchase price for all purchasers (option strike price x purchase price for all purchasers). Information such as the total number of shares purchased, option fees, the period until maturity, the maturity date, and the date the transaction was completed. The information stored in the option information database 54 is updated each time a purchase process is performed by the option transaction processing means 33, and is also updated whenever there is a right exercise execution process by the option right exercise processing means 34. Accordingly, the information reflects the fact that each option has already been exercised by the option exercise processing means 34, so that unexercised option storage information can be grasped.
[0109]
The company-side condition database 55 stores conditions on the company side when the option transaction processing means 33 performs option transactions. The information stored in the company-side condition database 55 may be updated based on information transmitted from the company asset management system 70 and other in-house systems regularly or whenever circumstances change. The person may perform the update work based on the communication from the company.
[0110]
In the above, each of the means 31 to 37 of the processing means 30A of the management server 30 is provided in the center of the computer main body (not only a personal computer but also its higher model) constituting the management server 30. It is realized by an arithmetic processing unit (CPU) and one or a plurality of programs that define the operation procedure of the CPU.
[0111]
Each of the databases 51 to 55 is preferably realized by, for example, a hard disk or the like, but ROM, EEPROM, flash memory, RAM, MO, CD-, as long as there is no problem in storage capacity, access speed, and the like. ROM, CD-R, CD-RW, DVD-ROM, DVD-RAM, FD, magnetic tape, or a combination thereof may be employed.
[0112]
The company personnel system 60 is configured by a computer placed under the management of the company, and includes a deduction processing means 61 and an employee salary / bonus database 62. The deduction processing unit 61 performs processing for acquiring deduction information from the deduction information providing unit 37 and creating / updating data in the employee salary / bonus database 62. The employee salary / bonus database 62 stores data used when paying salaries / bonuses to employees.
[0113]
The corporate asset management system 70 is constituted by a computer placed under the management of the enterprise, and includes a treasury stock management means 71 and a treasury stock database 72. The treasury stock management means 71 manages addition, deletion, update, inquiry, etc. of data in the treasury stock database 72. The treasury stock database 72 stores treasury stock holding information which is a company stock held by a company.
[0114]
The stock price information providing system 80 is configured by a computer and provides stock price information including market price information.
[0115]
The stock trading system 90 is configured by a computer and is a system for trading stocks.
[0116]
The stock price information providing system 80 and the stock trading system 90 are, for example, an internal system such as a securities company entrusted with the operation, maintenance, and management of the management server 30 by an administrator, or a manager other than the administrator or a securities company to which the manager is entrusted. Any external system placed under the control of the person.
[0117]
In this embodiment, employee asset formation is performed using the asset formation support system 10 as follows.
[0118]
2 and 4, first, a program is started on the management server 30 and other components of the system 10, and processing at the time of purchasing stocks and options is started (step S1 in FIG. 4).
[0119]
Next, an employee who wants to create an asset uses the purchaser terminal device 20 to select either a combination of physical stock purchase and call option purchase, or a combination of physical stock purchase and put option purchase, and monthly salary. When the purchase application is made after determining the amount of the reserve for purchasing the stock at the time and at the time of the bonus, information relating to the purchase application is transmitted to the management server 30 via the network 1 and received by the purchase application reception processing means 31. . Then, the purchase application reception processing means 31 stores and saves information related to the purchase application including the selected option type information received from the purchaser terminal device 20 in the purchaser database 51 (step S2).
[0120]
Further, the purchase application reception processing means 31 delivers the amount of the reserve for purchasing stock in the information related to the purchase application to the deduction information providing means 37. The deduction information providing means 37 provides the amount of reserve for purchase of stock shares as deduction information to the deduction processing means 61 of the corporate personnel system 60, and the option fee paid by the employee every month or at the time of bonus is set uniformly. The uniform option fee is calculated and provided to the deduction processing means 61 of the company personnel system 60 as deduction information (step S3). The deduction processing unit 61 acquires the deduction information and stores it in the employee salary / bonus database 62.
[0121]
Here, the amount of the reserve for purchasing the stock in the deduction information provided by the deduction information providing means 37 is the amount at the time of the first purchase application by the change procedure by the employee using the purchaser terminal device 20. The change information in this case is also provided to the deduction processing unit 61 by the deduction information providing unit 37.
[0122]
In addition, when the option fee to be deducted above is set uniformly, for example, when the ratio of the purchase of spot stock to option purchase is 1: 1 and the option exercise price is the market price at the time of purchase of spot stock In other cases, the option fee is set to a certain amount (for example, 0.1%) with respect to the strike price. In this case, the option fee to be paid every month or at the time of the bonus eventually becomes a certain amount with respect to the amount of the reserve for purchasing the stock at the time of the month or the bonus.
[0123]
Further, when the option fee to be deducted is not set uniformly but is changed every time as the calculation result by the option condition calculation means 33A, the option fee information on the transaction established by the option transaction permission / refusal determination means 33B is displayed. The deduction information is provided to the deduction processing unit 61 by the deduction information providing unit 37. At this time, the month in which the reserve for purchasing the stock is deducted may be different from the month in which the option fee for the option transaction corresponding to the purchase of the actual stock by the reserve is deducted. That is, the reserve for purchasing the stock may be deducted before purchasing the actual stock by the actual stock purchase processing means 32, and the option fee may be deducted after the option transaction by the option transaction processing means 33.
[0124]
The option fee may be changed in accordance with the increase or decrease in the market value of the company's stock regardless of whether the option fee to be deducted is set uniformly or not. The means 37B compares the market price of the spot stock acquired by the deduction processing market price information acquisition means 37A with the exercise price of the call option derived from the option holding information stored in the purchaser database 51, and the market price of the spot stock Is determined to be less than the strike price of the call option, the option fee paid by each employee for the month corresponding to the strike price is reduced or exempted according to the performance of each employee. Therefore, option fee compensation processing means 37C performs option fee compensation processing in order to bear the burden on the company. Then, the option fee change information created by the option fee compensation processing means 37C is provided to the deduction processing means 61 of the corporate personnel system 60.
[0125]
It should be noted that the accumulated amount of reserves for purchasing stock shares deducted from the salary or bonus of each employee is stored in the reserve database 52.
[0126]
Subsequently, the accumulated money totaling means 32A refers to the accumulated money database 52 and totals the accumulated money (reserved money from the previous purchase to the current purchase) for all employees who have applied for purchase. Is calculated (step S4 in FIG. 4).
[0127]
Then, the stock price purchase processing market price information acquisition unit 32B acquires the market price information of the company stock from the stock price information providing system 80 via the network 1 (step S5), and the purchased stock number calculation unit 32C acquires the reserve price calculation unit 32A. By dividing the total amount of reserves for all calculated in (1) by the acquired market price, the total number of shares purchased for all is calculated (step S6).
[0128]
The physical stock ordering means 32E orders the stock shares of the number of shares calculated by the purchased stock number calculating means 32C to the stock trading system 90 via the network 1, and then the physical stock purchase information acquisition means 32F from the stock trading system 90. The purchase information (the purchase price per share, the number of purchased shares including all the members, etc.) sent in stock via the network 1 is received (step S7).
[0129]
In addition, the physical stock purchase information acquisition unit 32F updates employee holding information managed by the administrator based on the acquired purchase information, stores the updated information in the physical stock database 53, and purchaser database 51. The actual stock holding information for each purchaser stored in the storage is also updated and stored in accordance with the contribution ratio of the reserve for purchasing actual stock of each purchaser (step S8).
[0130]
After that, the option condition calculation means 33A calculates the option condition according to the purchase information of the physical stock acquired by the physical stock purchase information acquisition means 32F (step S9). At this time, the option condition calculation means 33A refers to the selection option type information of each purchaser stored in the purchaser database 51, and calculates the total number of shares related to the call option purchase including all purchasers who have selected the call option. Calculate the total price (exercise price x total number of shares purchased for all purchasers who have selected the call option), and the total number of shares and total amount related to put option purchases for all purchasers who have selected the put option (right) (Exercise price × total number of shares purchased by all purchasers who have selected the put option). The option condition calculation means 33A determines the option purchase amount in proportion to the purchase amount of the actual stock. If the purchase ratio is not specified by each purchaser, for example, the option exercise price is set. The purchase price of the actual stock (the market price at the time of purchase) may be the same, and the number of purchased stocks related to the option transaction may be the same as the number of purchased stocks of the actual stock, and the purchase ratio may be 1: 1. The option fee is preferably determined using the Black-Scholes formula or the like according to the rate of divergence of the option exercise price with respect to the market price, the period until maturity, and the like. However, in the following example, for the sake of convenience, a uniform setting with a certain ratio (for example, 0.1%, etc.) with respect to the option strike price is assumed.
[0131]
[Table 1]

[0132]
Table 1 shows an example of an asset formation situation for employee X who has selected a combination of physical stock purchase and call option purchase. Employee X has been deducted 10,000 yen from monthly salary and 50,000 yen from bonuses as reserves for purchasing physical stock. The option exercise price is the same as the acquisition price of the stock (the market price at the time of purchase), and the number of shares purchased for the option transaction is the same as the number of shares purchased. . Furthermore, the option fee is set uniformly at 0.1% of the option exercise price. The manager purchases stocks and options every three months, such as March, June, September, and December every year.
[0133]
In this case, for example, after the deduction process in March 2002, the reserve for employee X is 30,000 yen for the period from January to March 2002, and the market price at the time of purchase in March is 300 yen. Therefore, the stock of employee X among the stocks purchased by the manager in March is 30,000 yen / 300 yen = 100 shares. At the time of purchase in March, employee X has a call option that can purchase 100 shares from a company for 300 yen per share, that is, 100 shares for 30,000 yen. The total amount of option fees deducted between January and March 2002 is the option exercise price x 0.1% x the number of shares purchased = the market price x 0.1% x the number of shares purchased = total purchase price x 0.1 After all, it will be 30 yen at 0.1% of the total amount of 30,000 yen in the reserves from January to March 2002. Therefore, the monthly option fee may be 0.1% of the monthly reserve. However, the option fee deducted in April and May 2002 is 0 yen (marked * in Table 1). This is because the market price (200 / share in April, 250 yen / share in May) was lower than the strike price (300 yen / share) of the call option, so compensation processing by option fee compensation processing means 37C was performed. This is because.
[0134]
Similarly, as of June 2002, employee X purchased a call option that can purchase 200 shares from a company for 400 yen per share, that is, 200 shares for 80,000 yen. When combined with the purchase in March, we have a call option that allows us to purchase 300 shares from a company for 110,000 yen, and the average strike price is 110,000 yen ÷ 300 shares = 367 yen. ing. If you continue to purchase call options in this way, the average strike price will be updated each time. As of March 2003, the total purchase amount from January 2002 was 250,000 yen, Since there are 515 shares, the average strike price is 250,000 yen / 515 shares = 485 yen. Here, since the market price in March 2003 is 1,000 yen / share, employee X does not consider the right to exercise the call option at this point (the restriction on the expiration date is not considered here). ) (1,000 yen -485 yen) x 515 shares = 265,225 yen profit (however, the payment of the option fee is not considered).
[0135]
[Table 2]

[0136]
Table 2 shows an example of the status of asset formation for employee Y who selected the combination of cash stock purchase and put option purchase. The exercise price, purchase ratio, option fee, deduction from salary / bonus, and purchase timing are the same as in Table 1.
[0137]
At the time of purchase in September 2002, the total purchase amount of physical shares from January 2002 was 140,000 yen, and the cumulative purchase number of physical shares was 320 shares. The price is 140,000 yen / 320 shares = 438 yen. Here, since the market price in November 2002 has increased to 1,000 yen / share, employee Y is (1,000 yen -438 yen) x 320 shares = 179,840 at this point. Yen profit can be obtained. Also, as of March 2003, the total purchase price from January 2002 was 250,000 yen, and the cumulative purchase number was 570 shares, so the average strike price was 250,000 yen ÷ 570 shares. = 439 yen. Here, since the market price in March 2003 has dropped to 200 yen / share, the value of the holding of Employee Y has decreased, but at this point the right to exercise the put option (the restrictions on the exercise deadline are ), (439 yen-200 yen) x 570 shares = 136,230 yen profit (however, the payment of the option fee is not considered). And offsetting losses and profits.
[0138]
Subsequently, after the option condition is calculated, the option transaction permission / rejection determination means 33B compares the company-side conditions stored in the company-side condition database 55 with the option conditions calculated by the option condition calculation means 33A. It is determined whether or not the option transaction can be permitted under the option condition (step S10). If the option condition does not fall within the allowable range of the company, the option condition may be recalculated by the option condition calculation means 33A, or the current option transaction may not be established.
[0139]
When the option transaction permission / refusal determination means 33B determines that the company can tolerate the transaction, the option information stored in the option information database 54 is stored in the option information database 54 together with all the purchasers related to the established transaction. In addition to storing the information, the option holding information for each purchaser stored in the purchaser database 51 is also included in the contribution ratio of the reserve for purchasing physical stock of each purchaser (designation of purchase ratio for each purchaser). If there is, the ratio is also taken into consideration.) Is updated and stored (step S11). Further, when the option fee is not set uniformly, the option transaction permission / refusal determination unit 33B passes the option fee information calculated by the option condition calculation unit 33A to the deduction information providing unit 37, and the deduction information providing unit 37 The option fee information is provided to the deduction processing means 61 of the corporate personnel system 60 as deduction information.
[0140]
As described above, the processing at the time of purchasing the stock and option is completed (step S12). In FIG. 4, the processes of steps S4 to S11 are not displayed in a loop, but actually, the process is repeated every time the stock shares and options are purchased.
[0141]
Thereafter, when the processing at the time of purchasing the stock shares and the option is finished, the processing at the time of exercising the option right is started (step S21 in FIG. 5).
[0142]
3 and 5, first, in the management server 30, the option exercise deadline monitoring means 34A refers to the information regarding the maturity date stored in the option information database 54, and monitors the option exercise deadline (step S22).
[0143]
Next, in the management server 30, the option exercise deadline notifying unit 34 B uses the option exercise deadline notifying unit 34 B to notify each purchaser of the option for which the exercise deadline is approaching. Is notified (step S23). Each purchaser confirms this notification content at the purchaser terminal device 20 operated by the purchaser.
[0144]
Subsequently, each purchaser who has received the notification determines whether or not to exercise the option right and, when exercising the right, operates the purchaser terminal device 20 to make a request for exercise. In this request for exercise of rights, options accumulated by a certain period of time can be exercised together, or each period can be divided and exercised in units of each period (for example, in units of one year). In the case of the examples in Table 1 and Table 2, for example, only those purchased during the year of 2002 may be allowed to be exercised within the exercise deadline set after 2003, It may be possible to exercise each purchase time individually.
[0145]
In the management server 30, when the right exercise request reception processing means 34C receives a right exercise request signal from the purchaser terminal device 20 by an individual purchaser (step S24), the option right content confirmation means 34D receives the option information database 54. The purchaser database 51 is checked to confirm the contents of the option requested by the purchaser (step S25). Further, the treasury stock confirmation means 34E accesses the corporate asset management system 70 to store the treasury stock database 72. The stored treasury stock holding information is received from the treasury stock management means 71 and grasped (step S26).
[0146]
Thereafter, when it is determined by the treasury stock confirmation means 34E that the treasury stock can cope with the exercise of the right, the right exercise execution processing means 34F performs a process of executing the option right exercise individually requested by each purchaser ( Step S27). At this time, the right exercise execution processing unit 34F accesses the corporate asset management system 70, issues a command to the treasury stock management unit 71, and increases or decreases the amount of treasury stock held in the treasury stock database 72. The holding amount of the employee's holdings (the holdings of all purchasers managed by the manager) stored in the database 53 is also increased or decreased. Thus, in the case of a call option, the current delivery from the treasury stock to the employee holding or cash settlement is performed (see FIG. 6), and in the case of the put option, the current delivery from the employee holding to the treasury stock or Payment is made in cash (see FIG. 8). Further, the right exercise execution processing means 34F increases or decreases the data of only the purchaser who exercises the right in the stock holding information of each purchaser stored in the purchaser database 51. Further, the exercise execution processing means 34F updates the unexercised option storage information stored in the option information database 54, and the option of each purchaser stored in the purchaser database 51 because the option has been exercised. Update the data of only the purchaser who exercised the rights in the information held.
[0147]
Finally, the option execution process notifying means 34G notifies the purchaser who has requested the right exercise using e-mail or the like, for example, that the execution process of option right exercise has been completed (step S28). Then, the purchaser who has requested the exercise of rights confirms the notification contents on the purchaser terminal device 20 operated by the purchaser. Thus, the processing at the time of exercising the option right is ended (step S29).
[0148]
According to this embodiment, there are the following effects. In other words, the asset formation support system 10 causes the employee to select one of the purchase combining the physical stock and the call option or the purchase combining the physical stock and the put option, and executes the purchase processing to It can support the asset formation of employees.
[0149]
For this reason, when the employee chooses to purchase spot stocks and call options, a profit higher than the profit of only spot stock purchases can be obtained due to the market price increase (see FIG. 7). In other words, when the market price rises, the employee can obtain a profit due to an increase in the market value of the purchased stock and a profit due to the exercise of the right of the call option (part A in FIG. 7). On the other hand, when the market price declines, the call option is not exercised, but there is a loss due to the decline in the market value of the purchased stock (part B in Fig. 7). In this sense, the employee can make a risk-tolerant purchase selection that is prepared for some profits and pursues significant profits. In addition, when the compensation process by the option fee compensation processing unit 37C is performed, the A part and the B part move upward as indicated by the dotted line in FIG.
[0150]
In addition, if employees choose to buy cash stocks and put options, they can hedge against weak market prices (see Figure 9). That is, when the market price rises, it is possible to obtain a profit due to an increase in the market price of the purchased stock (C section in FIG. 9). We do not exercise any rights for put options. On the other hand, when the market price declines, losses due to the decline in the market value of the purchased stocks occur, but profits from the exercise of put option rights can be obtained, so these losses and profits can be offset (D in Fig. 9). Part). In this sense, the employee can make a risk-avoidance purchase selection that secures a certain amount of profit while avoiding the risk.
[0151]
Accordingly, the employee can select the risk tolerance type purchase in FIG. 7 or the risk avoidance type purchase in FIG. 9 on his / her own will, so he selects an investment method suitable for his / her circumstances and is more advantageous. Asset formation can be done in various ways.
[0152]
For companies, on the other hand, employees can be given a choice, and if the employee chooses to buy cash stocks and put options, the risk of a stock price drop to the employees, even if the market is sluggish. Can be avoided.
[0153]
Further, since the processing by the option right exercising processing unit 34 is executed in response to each purchaser's request, each purchaser considers his / her circumstances and decides whether or not to exercise the option right at his / her own will. Can be judged.
[0154]
Since the asset formation support system 10 includes the option fee compensation processing means 37C, the option fee can be reduced or exempted according to, for example, the employee's performance. For this reason, the burden on the employee when the stock price falls can be reduced, so that the employee can perform asset formation in a more advantageous manner.
[0155]
Further, since the asset formation support system 10 includes the option condition calculation unit 33A, the option transaction permission / rejection determination unit 33B, and the company side condition database 55, the option transaction can be performed in consideration of the company side conditions.
[0156]
Furthermore, since the asset formation support system 10 includes the option information database 54, the option information providing means 35, and the treasury stock holding information obtaining means 36, the company stores the unexecuted option storage information and the treasury stock excess / deficiency information. Can be provided. This allows companies to prepare for employee option exercises.
[0157]
Since the physical stock purchase processing means 32 includes a reserve fund counting means 32A, a physical stock purchase processing market price information acquisition means 32B, a purchased stock number calculation means 32C, and a physical stock purchase execution processing means 32D. Conventionally, it is possible to quickly process the procedure for purchasing physical stock, which has been performed by the stockholding association.
[0158]
In addition, since the option transaction processing means 33 can automatically perform purchase processing with the purchase ratio of cash stocks and options set to 1: 1, the employee can make a balanced investment. Therefore, it is possible to form an advantageous asset without taking the trouble of determining the purchase ratio by itself.
[0159]
In addition, if necessary, the purchase ratio of cash stocks and options can be specified by each purchaser at the time of purchase application, in which case the selectivity given to employees can be increased. Employees can make investments that better match their own circumstances and judgments.
[0160]
Further, since the asset formation support system 10 includes the deduction information providing means 37, based on the deduction information, the deduction processing means 61 of the corporate personnel system 60 allows the reserve for purchasing physical stock and the option fee to be paid or paid. It can be deducted from bonuses. For this reason, it is possible to collect funds for the purchase of cash stocks smoothly as in the case of conventional stock ownership. In addition, the option fee varies with the fluctuation of the market price of the actual stock, but the payment is made on a monthly basis. And a method of purchasing a certain amount each time), the option fee to be paid every month can be leveled. Also, since not only spot stock purchases but also option purchases are combined, monthly payments for option purchases will be only option fees, so the monthly deduction amount can be kept low, and the financial burden can be reduced. Can do.
[0161]
The right exercise execution processing means 34F accesses the corporate asset management system 70 to execute the option right exercise and performs a process of increasing or decreasing the amount of treasury stock held in the treasury stock database 72. Effective use can be achieved.
[0162]
Note that the present invention is not limited to the above-described embodiment, and modifications and the like within a scope where the object of the present invention can be achieved are included in the present invention.
[0163]
That is, in the embodiment, the management server 30, the corporate personnel system 60, the corporate asset management system 70, the stock price information providing system 80, and the stock trading system 90 are configured by different computers. However, these functions may be integrated with each other by a single computer, or the server 30 and the system 60, may be integrated with each other. Each function may be realized by a single computer by combining any of 70, 80, and 90.
[0164]
In the embodiment, the purchaser terminal device 20 is connected to the management server 30 via the network 1 constituted by the Internet, an intranet, a LAN, or the like, and can make a purchase application or an option right exercise request from a remote location. However, the purchaser terminal device 20 is directly connected to the computer constituting the management server 30 so that the data input from a remote place is not assumed, that is, the use of the network 1 is assumed. It is good also as an asset formation support system of composition which is not.
[0165]
【The invention's effect】
As described above, according to the present invention, the purchase process is executed by allowing the employee to select either the purchase combining the physical stock and the call option or the purchase combining the physical stock and the put option. If the employee chooses to buy spot stock and call option, the market price gains will give more profit than the spot stock purchase only, while if he chooses to buy spot stock and put option. Can hedge against market downturns, and can give employees the option to choose.
[Brief description of the drawings]
FIG. 1 is an overall configuration diagram of an asset formation support system according to an embodiment of the present invention.
FIG. 2 is an explanatory diagram of processing and data flow when purchasing stocks and options in the embodiment.
FIG. 3 is an explanatory diagram of processing and data flow when exercising an option right in the embodiment.
FIG. 4 is a flowchart showing a flow of processing when purchasing stocks and options in the embodiment.
FIG. 5 is a flowchart showing a flow of processing when an option right is exercised in the embodiment.
FIG. 6 is an explanatory diagram showing a schematic flow when a cash stock and call option purchase are selected (risk tolerance type).
FIG. 7 is an explanatory diagram showing the profit and loss status when cash stock and call option purchase are selected (risk tolerance type).
FIG. 8 is an explanatory diagram showing a schematic flow when a cash stock and put option purchase is selected (risk avoidance type).
FIG. 9 is an explanatory diagram showing the profit and loss situation when cash stock and put option purchase are selected (risk avoidance type).
[Explanation of symbols]
10 Asset formation support system
31 Purchase application acceptance processing means
32 Cash stock purchase processing means
32A Funding means
32B Cash value acquisition means for cash stock purchase processing
32C Number of shares purchased
32D spot stock purchase execution processing means
33 Option transaction processing means
33A Option condition calculation means
33B Option transaction acceptance / rejection judging means
34 Option right processing means
35 Option information provision means
36 Means to acquire treasury stock information
37 Deduction information provision means
37A Current value information acquisition means for deduction processing
37B comparison means
37C Option fee compensation processing means
51 Purchaser database
54 Option information database
55 Company-side condition database
61 Deduction processing means

Claims (6)

An asset formation support system configured by a computer that executes processing for supporting asset formation of an employee working for a company,
The employee is selected by selecting either a repeat purchase of a combination of the physical stock of the company and a call option for the stock or a repeat purchase of a combination of the physical stock of the company and a put option for the stock. Information on purchase application by an employee is input by a terminal device operated by the employee, the person in charge of the company or another input agent, and transmitted via the network, and the employee selects any option. executing the process you receive the ratio data to specify the percentage of the selected option type information indicating the, or in addition to the options selected type information and purchase shares of the actual stock purchase shares of the call option or the put option and the purchase application accepting processing means for,
Information relating to the purchase application including the ratio data in addition to the options selected type information and the selected option type information of the employee who received this purchase application reception processing unit, with the purchase of the actual strain after receiving applications and the purchaser database for storing individually-kind shareholding information to be updated, and the option holder information that is updated in accordance with the purchase of the options after receiving applications, said to each employee who carried out the purchase application Te,
A reserve database that stores reserves for purchase of physical stocks accumulated from the time of the previous purchase process to the time of the current purchase process with contributions by deduction from the salary or bonus of each employee who applied for the purchase;
The total stock for purchasing the stock of each employee from the previous purchase processing to the current purchase processing stored in the reserve database is totaled, and the stock information of the company's cash stock is obtained from the stock price information providing system. By acquiring the market price and dividing the total amount of the reserve for purchasing the stocks of each employee by the market price acquired from the stock price information providing system, Calculates the number of shares purchased and performs ordering processing to send the stock purchase information indicating that the total number of shares purchased and the company's own shares to be purchased to the stock trading system. The purchase information including the purchase price per share of the stocks of the company purchased from the market and the number of shares of the stocks for all members is obtained from the stock trading system, Calculate the number of shares purchased for each employee according to the contribution ratio of the reserve for purchasing the actual shares of each employee from the total number of purchased shares of the actual shares, A physical stock purchase processing means for repeatedly executing the processing of storing the number of stocks of the physical stock for each member in the purchaser database as the physical stock holding information ;
Defines the type of the selected option type information thus of purchased options before Symbol purchaser each employee database stored in the call option or the put option, further wherein said call option or the put each employee The strike price of the option is set to the same price as the purchase price per share of the physical stock purchased by the physical stock purchase processing means, and the number of shares purchased of the call option or the put option of each employee Is set to the same number of shares as the number of purchased shares of the actual stock for each employee calculated by the actual stock purchase processing means, or the number of shares purchased for the actual stock of each employee is determined in advance by the system. Ratio or the ratio specified by each employee stored in the purchaser database By multiplying the data, the number of shares purchased for the call option or the put option for each employee is calculated, and the exercise price and the number of purchased shares for the call option or the put option for each employee obtained. An option transaction processing means for repeatedly executing a process of storing in the purchaser database as the option holding information about the option transaction with the company as a counterpart ,
When the option exercise request signal transmitted from the terminal device operated by the employee via the network is received, the selected option type information of the employee stored in the purchaser database is the call If it is an option, the company asset management system is accessed for the same number of shares as the call option holding stock of the employee stored as the option holding information in the purchaser database, and the company asset management system Reducing the number of treasury stocks of the company stored in the treasury stock database, and increasing the number of stocks of the physical stock of the employee stored as the stock stock holding information in the purchaser database; The selection option type information of the employee stored in the purchaser database is stored in the profile. If the number of shares is the same as the number of shares held in the put option of the employee stored in the purchaser database as the option holding information, the company asset management system is accessed to access the company asset management system. Increase the treasury stock of the company stored in the treasury stock database of the system, and reduce the number of stock holdings of the physical stock of the employee stored as the stock holding information in the purchaser database asset support system is characterized in that a options exercise processing means for executing the process causes. From the stock information providing system acquires the value when the actual strain used for deduction process, the right to the call option at the time of each time the purchase processing is stored as the previous SL option holder information to the buyer database Divide the total purchase amount of each purchase process by multiplying the exercise price and the number of shares purchased by the right exercise price by the number of purchased shares by the cumulative number of shares purchased. The average exercise price of the call option is calculated, and the market price of the acquired stock option is compared with the calculated average exercise price of the call option. If it is determined that less than the average exercise price is, heaven from the previous Symbol salary or bonus for each employee to the less than month Asset formation according to the option premiums of change information to reduce or exempt option fee to be come, in claim 1, characterized in that with a withheld information providing means for performing a process of transmitting to the enterprise personnel system Support system. As a condition of the company when processing the option transaction by the option transaction processing means, the total number of the purchased shares of the call option for all the employees who purchased the call option or the put option is purchased. The allowable range for the total number of the purchased shares of the put option for all the employees, and / or the total number of shares multiplied by the call option or the exercise price of the put option or the call option or the A company condition database is stored to store the allowable range for the total amount of put options .
The option transaction processing means refers to the previous Symbol selection option type information that is stored before Symbol purchaser database, the total number of shares of the purchase shares of the call option of the all employees worth of purchased the call options and / Or the total amount obtained by multiplying the total number of shares by the strike price of the call option, and the total number of the purchased shares of the put option and / or the total number of shares for all employees who have purchased the put option. Is the total amount multiplied by the strike price of the put option calculated, and whether the total number of shares and / or the total amount is within the allowable range as the company side condition stored in the company side condition database? The total number of shares and / or the total amount calculated by determining whether or not It is determined whether the option trading in conditions the company is acceptable, if it is determined that acceptable, the exercise of the call option or the put option of each employee is established the option transaction price and asset support system according to claim 1 or 2, characterized in that said purchase shares are configured to execute a process of storing in the buyer database. Was calculated Ri by the the option transaction processing means, the put option of the total number of shares, and said all employees worth of purchased the put option of the purchase shares of the call option of the all employees worth of purchase the call option An optional information database for accumulating and storing the total number of shares of the purchased stock each time ,
The option right exercising processing means receives the option right exercising request signal transmitted from the terminal device operated by the employee via the network, and stores the employee stored in the purchaser database. wherein when selection option type information is the call option, for the same number of shares worth the number of shares held of the call option of the employee which is remembers as the option holder information to the purchaser database, the optional information database If the total number of shares of the call option related to the option exercise request stored in the item is reduced and the selected option type information of the employee stored in the purchaser database is the put option, The option holding information in the purchaser database The processing for reducing the total number of shares of the put option related to the option exercise request stored in the option information database is also executed for the same number of shares as the number of shares held by the employee of the put option stored in the option information database. With the configuration,
Further, the treasury stock holding information acquisition means for accessing the corporate asset management system and executing a process of acquiring the treasury stock holding amount of the enterprise stored in the treasury stock database of the corporate asset management system;
By the process of transmitting the total stock number of the call option and the total stock number of the put option stored in the option information database to the corporate asset management system as unexercised option storage information , and the safe stock holding information acquisition means Information on excess / deficiency of the company's treasury stock obtained by comparing the acquired amount of treasury stock of the company and the total number of shares of the call option stored as the unexercised option storage information in the option information database The asset formation support system according to any one of claims 1 to 3 , further comprising option information providing means for executing a process of transmitting a message to the corporate asset management system. An asset formation support method executed by an asset formation support system configured by a computer that executes processing for supporting asset formation of an employee working in a company,
The purchase application reception processing means either repeats the purchase combining the stock of the company and the call option for the stock or repeats the purchase of the combination of the stock of the company and the put option for the stock. The employee who is input through the terminal device operated by the employee or the person in charge of the company or other input agent as information related to the purchase application by the employee to be selected and transmitted via the network Selection option type information indicating which option the employee has selected, or ratio data specifying the ratio between the number of shares purchased in the stock stock and the number of shares purchased in the call option or the put option in addition to the selection option type information. Execute the process to receive,
Information related to the purchase application including the ratio data in addition to the selection option type information or the selection option type information of the employee received by the purchase application reception processing means, along with the purchase of the physical stock after application reception The stock holding information to be updated and the option holding information to be updated with the purchase of the option after acceptance of application are stored in the purchaser database individually for each employee who has made the purchase application,
Storing in the reserve database a reserve for purchase of physical stock accumulated between the time of the previous purchase process and the current purchase process in the contribution by deduction from the salary or bonus of each employee who applied for the purchase;
The stock price purchase processing means totals all the stock stock purchase reserves of each employee between the previous purchase process and the current purchase process stored in the reserve database, and provides a stock price information providing system. To obtain the market price of the physical stock of the company, and divide the total amount of the reserve for purchase of the physical stock of each employee by the market price acquired from the stock price information providing system. Calculate the number of purchased stocks of the physical stocks that are combined, and purchase stock information indicating that the total number of physical stocks purchased and the company's own stocks to be purchased are included in the stock trading system. The purchase information including the purchase price per share of the physical stock of the company purchased from the market and the total number of purchased stocks of all the stocks for all the members is sent to the stock trading. The number of shares purchased for each employee according to the contribution ratio of the reserve for purchase of the actual shares of each employee from the number of purchased shares of the actual shares obtained from the system. , Repeatedly performing the process of storing the calculated number of shares of each stock for each employee in the purchaser database as the stock shares holding information,
Option transaction processing means for each employee stored in the purchaser database; According to the selected option type information, the type of option to be purchased is set as the call option or the put option, and the strike price of the call option or the put option of each employee is purchased by the cash stock purchase processing means. For each employee calculated by the physical stock purchase processing means, the number of shares purchased for the call option or the put option for each employee is set to the same price as the purchase price per share for the physical stock. The number of shares purchased is the same as the number of shares purchased or the number of shares purchased for each employee is set to a ratio predetermined by the system or stored in the purchaser database. By multiplying the specified ratio data, the call for each employee The number of shares purchased for the option or the put option is calculated, and the strike price and the number of shares purchased for the call option or the put option for each employee obtained are used for the option transaction for the company as a counterparty. Repeatedly store the purchaser database as option holding information,
When the option right exercising processing means receives a signal of an option right exercising request transmitted from the terminal device operated by the employee via the network, the employee's stored in the purchaser database is stored in the purchaser database. When the selected option type information is the call option, the corporate asset management system is accessed for the same number of shares as the number of shares held in the call option of the employee stored in the purchaser database as the option holding information. The holding amount of the company's treasury stock stored in the treasury stock database of the leverage management system is reduced, and the cash stock of the employee stored in the purchaser database as the stock holding information is stored. Increase the number of shares held, and the employee's stored in the purchaser database If the selected option type information is the put option, the corporate asset management system is accessed for the same number of shares as the number of shares of the put option of the employee stored as the option holding information in the purchaser database. And increasing the holding amount of the company's treasury stock stored in the treasury stock database of the corporate asset management system, and the physical thing of the employee stored as the physical stock holding information in the purchaser database. Execute processing to reduce the number of shares held
An asset formation support method characterized by that. The program for functioning a computer as an asset formation assistance system in any one of Claims 1-4 .

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