JP5255984B2 - Exchange exchange margin trading system and foreign currency denominated settlement conversion method - Google Patents

Description

  The present invention relates to a foreign exchange margin transaction, and more particularly, to a conversion method for foreign currency denominated settlement gains and losses in a foreign exchange margin transaction through an exchange.

  Foreign exchange transactions are broadly divided into transactions with yen (transactions with currency pairs centered on yen, such as USD / JPY, EUR / JPY, etc.) and transactions between foreign currencies (foreign currency (currencies other than yen)). There are transactions in pairs, such as EUR / USD, EUR / GBP, etc. (also referred to as cross currency transactions), and exchange transactions with various currency pairs are possible.

  In the case of trading against the yen, when the position held is settled, the settlement profit / loss is in yen. However, in the foreign currency transaction, the settlement profit / loss is denominated in a foreign currency because it is a foreign currency transaction. However, for foreign exchange transactions in Japan, in principle, profit and loss settlement processing based on the yen currency, margin deposit, etc. are performed, so the foreign currency denominated settlement gains and losses in foreign currency transactions are usually converted into yen (conversion). There is a need.

  FIG. 17 is a diagram for explaining a foreign currency transaction and a conversion method in a conventional over-the-counter margin deposit transaction. In the case of transactions between foreign currencies of the EUR / USD currency pair, the settlement gains and losses are denominated in dollars. In the example of FIG. 17, foreign currency denominated gains / losses + $ 600 are generated by buyback / resale of open interests. Is recorded. After the foreign currency denominated settlement gains and losses are determined, the orderer performs a currency exchange transaction in which 600 dollars are exchanged into yen at the exchange rate provided by the trader, and finally the foreign currency denominated gains and losses are determined as yen denominated gains and losses. (For example, Non-Patent Document 1). In addition, depending on the transaction form, after the settlement gain / loss denominated in a foreign currency is determined, a currency exchange transaction is automatically performed at a predetermined exchange rate, and the gain / loss is determined in yen.

  Here, the trader conducts a cover transaction for $ 600 ($ 600 sold by the orderer) purchased with the covered financial institution (covered market maker) in response to the exchange application from the orderer, and covers the cover. Based on the yen obtained from the transaction, pay the orderer a yen equivalent of 600 dollars. At this time, in consideration of the risk of exchange rate fluctuations, personnel costs, etc., the trader usually presents the exchange rate that is higher than the actual exchange rate to the orderer. That is, as shown in the example of FIG. 17, when a trader who promises an exchange rate of 105 yen / dollar with an orderer must perform a cover transaction at 104.50 yen / dollar due to exchange fluctuations, Since a loss of ¥ 300 will be incurred, the trader provides the orderer with a currency exchange transaction at a higher exchange rate than the actual exchange rate. That is, the orderer must bear the exchange rate fluctuation risk, and the exchange cost for the exchange rate fluctuation risk is collected.

Money Partners Co., Ltd., “Foreign Currency Exchange (Conversion)” page of “Transaction Overview”, http://www.moneypartners.co.jp/partnersfx/deli_con.html

  In this way, with conventional foreign currency transactions, when performing exchange transactions in which foreign currency denominated settlement gains and losses are exchanged for yen, the exchange rate fluctuation risk and costs such as fees are generated, which is a heavy burden on the trading participant who is the orderer. It was.

  In addition, in the exchange margin transaction, there may be a transaction form in which the deposit is deposited in foreign currency instead of yen, and the exchange transaction is omitted by fixing the foreign currency denominated settlement profit or loss in the foreign currency. Individual investors who participate in the foreign exchange trading market in Japan usually do not have foreign currency, and most of them have only yen, so even if margin deposits in foreign currency are possible, A conversion burden is inevitably generated when depositing foreign currency deposits and withdrawing foreign currency. Furthermore, the burden that an individual investor has to hold foreign currency denominated funds in addition to the yen denominated funds is generated, and the burden on the individual investors cannot be reduced.

  On the other hand, in exchange exchange margin trading, which is a transaction form different from the over-the-counter margin trading, the transaction participants must also convert foreign currency-denominated settlement gains / losses in inter-currency transactions. Will not change. In exchange exchange margin trading, both the market maker and the orderer (trader) must convert foreign currency denominated settlement gains and losses, increasing the burden of settlement processing and margin deposit management, and the processing is complicated. It becomes.

  Accordingly, an object of the present invention is to provide an exchange exchange margin trading system and a foreign currency denominated settlement profit / loss conversion method capable of reducing a burden on a trading participant in a foreign currency transaction.

  In one aspect of the present invention, an exchange exchange margin trading system provides an orderer with bid / offer information presented by a market maker, and performs exchange margin trading through the exchange for the order information from the orderer. The exchange exchange margin trading system, which is the market maker's first currency (yen) denominated margin deposit information and foreign currency denominated margin deposit information other than the first currency, and the orderer's first currency (yen) denominated Net storage in foreign currency based on bid / offer information and order information, netting in foreign currency settlement based on bid / offer information and order information is netted with foreign currency denominated margin of market maker, and netted in foreign currency settlement profit / loss Set the corresponding profit or loss in the first currency (yen) in the first currency (yen) in the market maker and the first currency in the orderer And having a and performing conversion processing unit conversions process to transfer between the yen) denominated margin.

  In addition, the conversion processing unit determines whether or not the foreign currency denominated settlement profit or loss is a positive profit or loss, and if it is a positive profit or loss, adds the foreign currency for the foreign currency denominated settlement profit or loss to the market manufacturer's foreign currency margin, The first currency (yen) denominated settlement gain or loss corresponding to the added foreign currency is subtracted from the market maker's first currency (yen) denominated margin, and the first currency (yen) denominated settlement gain or loss is the first currency of the orderer ( It can be configured to perform a conversion process to be added to the yen-denominated margin.

  The conversion processing unit determines whether the foreign currency denominated settlement gain or loss is a negative gain or loss, and subtracts the foreign currency portion of the foreign currency denominated settlement gain from the market maker's foreign currency denominated margin if it is a negative gain or loss. The first currency (yen) denominated settlement gain or loss corresponding to the foreign currency deducted from the orderer's first currency (yen) denominated margin and the first currency (yen) denominated settlement gain or loss ) It can be configured to perform a conversion process that adds to the deposit margin.

  The storage unit may store first currency (yen) denominated margin deposit information and foreign currency denominated deposit deposit information for each of a plurality of market makers, and the conversion processing unit may store the foreign currency denominated evidence of the market maker. Calculate the foreign currency allocation amount corresponding to the foreign currency denominated settlement profit / loss for each market maker so that the difference between the foreign currency denominated margins of each market maker is minimized based on the gold deposit information, and calculate each foreign currency allocation amount The conversion process is performed to transfer the settlement gains / losses denominated in the first currency (yen) equivalent to the first currency (yen) denominated margin of each market maker and the orderer's first currency (yen) denominated margin. Can be configured.

  Also, an information processing apparatus according to another aspect of the present invention provides bidder / offer information presented by a market maker to an orderer and performs exchange margin trading through an exchange for the order information from the orderer. It is a processing device, deposit information in the first currency (yen) denominated in the market maker, deposit information in the foreign currency other than the first currency (yen), and deposit in the first currency (yen) in the orderer The storage unit for storing information, netting foreign currency denominated settlement gains and losses in foreign currency exchange transactions based on the above bid / offer information and order information with the margins of foreign currency denominated by the market maker Settlement gains / losses denominated in the first currency (yen), the first currency (yen) denominated margin of the market maker and the orderer's first currency (yen) denominated And having a and performing conversion processing unit conversions process to transfer between.

  According to still another aspect of the present invention, a foreign currency denominated settlement profit / loss conversion method provides bid / offer information presented by a market maker to an orderer terminal and exchanges the order information from the orderer terminal through an exchange. A conversion method for foreign currency denominated settlement gains and losses in an exchange exchange margin trading system that performs margin trading, which is denominated in foreign currency other than the first currency (yen) deposit deposit information of the market maker and the first currency (yen) Based on the margin deposit information and the orderer's first currency (yen) margin deposit information, the foreign currency-denominated settlement gains and losses in the foreign currency exchange transaction based on the bid / offer information and order information described above are evidence of market makers in foreign currency. Netting with gold and the first currency (yen) ) Denominated settlement gains and losses and the first currency (yen) denominated margin of market makers and reclassified step between the first currency (yen) denominated margin by the purchaser, characterized in that it comprises a.

  According to the present invention, the foreign currency denominated settlement gain or loss in the foreign currency transaction is netted with the foreign currency denominated margin of the market maker, and the first currency denominated settlement gain or loss equivalent to the foreign currency denominated settlement gain or loss of the netting orderer And the conversion process between the first currency and the foreign currency is performed by transferring between the deposits in the first currency of the orderer.

  In other words, net gains and losses in foreign currency settlement are netted with margins in foreign currency denominated by the market maker, and the first currency corresponding to the netted settlement gains and losses in foreign currency is directly transferred between the margins in the first currency of the market maker and the orderer. Therefore, there is no need to conduct a conventional exchange transaction for foreign currency denominated settlement gains and losses. For this reason, it is possible to suppress the cost associated with the exchange rate fluctuation risk in the exchange transaction, and it is not necessary to perform the exchange transaction for the foreign currency denominated settlement profit and loss, and it is possible to reduce the burden in the foreign currency transaction.

  Hereinafter, an embodiment of the present invention will be described in detail with reference to the drawings, taking as an example an exchange exchange margin trading system to which the conversion method for foreign currency denominated settlement profit / loss of the present invention is applied.

<System configuration>
FIG. 1 is a network configuration diagram of an exchange exchange margin trading system 1. The exchange exchange margin trading system 1 of the present embodiment includes an exchange system 100 including an exchange central server 110 held by an exchange for exchange exchange margin trading, and a server 200 held by each of a plurality of traders. And a trader terminal 201, an orderer terminal 300 operated by an orderer such as an individual investor, and a market maker terminal (MM) of a market maker (such as a financial institution such as a bank) that bids (quotes) exchange rates Terminal) 400. These are configured such that the server and the terminal device can be connected to the exchange system 100 via a predetermined communication line or a communication network such as the Internet.

  The exchange exchange margin trading system 1 generates an exchange transaction rate based on bid information / offer information provided by a plurality of market makers, transmits the exchange exchange rate to the orderer terminal 300, and traders registered in the exchange The exchange exchange margin transaction via the exchange is provided to orderers such as individual investors. Market makers and traders are banks and traders (trade participants) registered with the exchange, and the traders of this embodiment place orders from orderers (customers) such as individual investors. It is a trader registered with the Financial Services Agency that is entrusted to carry out exchange exchange margin trading. A market maker is also a trading participant registered in an exchange, and is a person who presents offer information and bid information to an orderer and responds to a foreign exchange transaction.

  FIG. 2 is a configuration block diagram of the exchange system 100 according to the present embodiment. The exchange central server 110, the FX server 120 to which the trader terminal 201 and the orderer terminal 300 are connected via a communication network, and the MM MM server 130 to which terminal 400 connects via a communication network, and an authentication server that performs access authentication when orderer terminal 300 such as MM terminal 400, trader terminal 201, and individual investor connects to exchange system 100 140.

  The exchange central server 110 includes a communication control unit 111 that performs communication with each server in the exchange system 100 and the trader terminal 201, the orderer terminal 300, and the MM terminal 400 via the network N, the trader terminal 201, and An FX management unit 112 that manages an FX server 120 that provides an ASP function for executing a foreign exchange margin transaction to the orderer terminal 300, and information such as bid information / offer information and swap point information is exchanged. Customer information (personal information, personal information, etc.) stored in the database 122 of the MM management unit 113 that manages the MM server 130 that provides the ASP function to the market maker provided to the system 100 and the FX server 120 A customer management unit 114 for managing transaction condition information and the like.

  Further, the exchange central server 110 relates to the foreign exchange margin transaction based on a transaction request (new selling / buying order, settlement order by resale / purchase, etc.) including order information transmitted from the orderer terminal 300. From the transaction management unit 115 that manages and controls various transaction processes, the transaction rate management unit 116 that manages bid information / offer information transmitted from the plurality of MM terminals 400 to the MM server 130, and the plurality of MM terminals 400 Swap point management unit 117 that manages swap point information regarding each currency transmitted to the MM server 130, a conversion processing unit 118 that converts foreign currency denominated settlement gains and losses in foreign currency transactions into yen (first currency), and the orderer Transaction information (order information, order history information, open interest information, execution information, margin information, deposit / withdrawal information, If information, a transaction information (open interest information with each market maker currency swap information, etc.), contract information, margin information, the Exchange database 119 for storing the receipt and payment information, etc.). The transaction management unit 115 also performs a process of reflecting settlement profit / loss in the margin and an evaluation change (price washing process) of unsettled positions held by the orderer or the market maker.

  Note that the transaction processing unit 115 of the present embodiment can be configured to include the conversion function of the foreign currency denominated settlement profit / loss of the conversion processing unit 118.

  The exchange exchange margin trading system 1 (exchange) of the present embodiment is connected to a trader (a trader terminal 201) registered in the FX database 121 of the FX server 120 participating in the exchange exchange margin transaction. On the other hand, it provides an ASP function for performing foreign exchange margin trading in exchange trading. The FX database 121 also stores screen information such as screen programs transmitted to the trader terminal 201 and the orderer terminal 300.

  The FX server 120 has a customer database 122 for centrally managing a trader and each individual investor (orderer) entrusted to the trader, and the trader terminal 201 is connected to the FX server 120. In such a case, an input screen or the like for inputting customer information of an individual investor or the like who has been entrusted with the transaction and licensed from the trader is provided from the FX server 120 to the trader terminal 201, and the It is displayed on the illustrated display device. The trader inputs customer information such as individual investors on the displayed input screen and the like, and the customer information input through the screen is transmitted to the exchange system 100 and stored in the customer database 122 of the FX server 120. The

  Registered in the customer database 122 are codes for uniquely identifying individual investors, etc. (consignor codes, participant codes, etc.), customer transaction information such as position information and margin status information of individual investors, etc. Is done. For example, a participant code, a user name, a margin deposit amount, a sale constant amount, a purchase constant amount, a sale position quantity, a purchase position quantity, and the like are registered together with a user code assigned to each individual investor.

  Then, the trader terminal 201 possessed by each of the plurality of traders of the present embodiment is connected to the FX server 120 so that the names, email addresses, logins of individual investors registered in the customer database 122, and the like. Information such as ID and password can be acquired. In other words, all of the main processes such as orderer registration and transaction processing, including ID and password issuance processing, are centrally managed and executed by the exchange system 100. , Personal information such as individual investors, margin information, and information such as transaction conditions based on these information are registered in the exchange system 100, and the trader individually has functions for dealing with individual investors. There is no need to provide. In addition, an individual investor or the like can directly perform exchange exchange margin trading through an entrusted trader by directly connecting to the exchange system 100 (FX server 120).

  Specifically, the orderer is centrally managed in the exchange by registering with the exchange through the trader, and the orderer can exchange the orderer terminal 300 with the exchange system based on a consignment contract with the trader. The exchange FX margin transaction can be performed by connecting to 100 FX servers 120 and using the ASP function provided by the FX server 120. The FX server 120 provides a predetermined login screen in response to the connection request from the orderer terminal 300, and authentication processing by the authentication server 140 is performed using the ID and password input by the orderer. As a result of the authentication processing, when it is authenticated as a legitimate orderer registered in the exchange and permission to start the transaction, the FX server 120 provides the stored screen program to the orderer terminal 300. In addition, individual investors, etc. can use the display screen to make transactions such as orders and payments (order instructions, payment instructions, withdrawal instructions, etc.), view current transaction status (uncommitted orders, open positions, orders History, contract history, margin status, deposit status, deposit / withdrawal history, withdrawal instruction history, etc.) and various transaction settings can be registered.

  In other words, the FX server 120 of the present embodiment receives order information ordered by an individual investor or the like based on bid / offer information from the market maker provided from the exchange central server 110, and includes the received order information. Based on that, it functions as a trader server that performs exchange margin trading through exchanges. In other words, the FX server 120 is a trader server in which the trader that has received the order information from the orderer places an order to the exchange (the exchange central server 110). Therefore, as shown in FIG. 2, the FX server 120 includes a transaction processing unit 123, and the transaction processing unit 123 sends a transaction request such as an order or settlement requested by an individual investor to the exchange central server 110. Output (send) and perform transaction processing of exchange margin transactions with the exchange central server 110.

  The MM server 130 has an MM database 131 for storing information on each market maker, and stores MM trader information such as MM trader code, MM trader name, contact information, etc. Transaction information such as information and margin information is stored. For example, the margin deposit amount, the sale constant amount based on the presented bid / offer information, the purchase constant amount, the sale position quantity, the purchase position quantity, etc. are stored together with the MM dealer code assigned to each market maker. A market maker registered in the MM database 131 (exchange) connects to the MM server 130 from the MM terminal 400 and provides bid information, offer information, swap point information, etc. to the exchange system 100. At this time, like the FX server 120, the MM server 130 displays a screen program for inputting or transmitting bid information or a screen program for browsing various information stored in the MM database 131. It can be provided to the terminal 400.

  Here, the exchange exchange margin transaction of this embodiment will be described. In exchange margin trading through an exchange, when a trading participant conducts a transaction, the deposit is deposited with the exchange. That is, the margin of the orderer such as an individual investor is deposited with the exchange through the trader, and the market maker deposits the margin with the exchange. This margin is a security deposit that is put on the exchange to secure the performance of the transaction, and reflects the gains and losses arising from the daily transactions or mark-to-market.

  In addition, exchange exchange margin trading of this embodiment provides transactions against yen and foreign currency transactions (foreign exchange margin transactions between foreign currencies other than yen), and the foreign currency denominated valuation gains and losses on open interests in foreign currency transactions. Redraw at the daily clearing price and evaluate and manage in yen. In addition, foreign currency denominated settlement gains and losses (settlement exchange differences) related to open interests resold / purchased by individual investors, etc. are all converted to yen denominated by the conversion process described later, and settled by transferring them to yen denominated margin. Made.

  Then, the market maker of the exchange exchange margin system 1 of the present embodiment has a margin denominated in yen, and a margin denominated in a foreign currency is generated as a margin in a foreign currency transaction (deposited margin deposit information for each market maker). Is stored in the exchange database 119). The foreign currency denominated margin of this embodiment is managed by transferring foreign currency denominated settlement gains and losses in foreign currency transactions generated on the market maker side as they are denominated in foreign currencies, and conversion processing for the orderer's foreign currency denominated settlement gains and losses described later It cannot be used for depositing and / or withdrawing money like a yen-denominated margin.

  In other words, the foreign currency-denominated margin in this embodiment is transferred in foreign currency-denominated settlement gains / losses generated in foreign currency transactions (foreign currency-denominated settlement gains / losses are transferred as margins in a foreign currency-denominated state), and the orderer However, the amount does not have to be actually deposited by the market maker at the exchange. In other words, foreign currency-denominated settlement gains / losses related to open interests that are transferred from foreign currency-denominated settlement in foreign currency transactions and resold / repurchased by the orderer, rather than being actually deposited and deposited at the exchange. The margin is used to convert the currency denominated into yen, and in fact, the market maker does not need to open a foreign currency denominated account for depositing the foreign currency margin. In this embodiment, the market maker does not open a foreign currency account. However, the present invention is not limited to this, and the foreign currency settlement account is actually transferred to the foreign currency account. It may be a configuration. In other words, the foreign currency-denominated margin of this embodiment is the foreign currency-denominated margin for each market maker so that the foreign currency-denominated settlement gains / losses generated in transactions between foreign currencies are transferred as foreign-currency margin regardless of whether an account is opened or not. Any configuration in which the exchange holds and manages (information) may be used.

  Further, the foreign currency denominated margin is managed for each currency handled by the market maker in the transaction between foreign currencies, and each market maker has margin information denominated in a foreign currency of each currency such as USD, EUR, GBP. On the other hand, an orderer such as an individual investor does not need to deposit foreign currency-denominated margin to an exchange because profits and losses in foreign currency transactions are converted into yen by conversion processing and transferred to yen-denominated margin. Make deposits and withdrawals on margins denominated in yen. Furthermore, as described above, the market maker does not need to deposit foreign currency by depositing the foreign currency denomination into an actual account, and deposits only the yen denominated margin to the exchange. Therefore, the exchange exchange margin trading system 1 according to the present embodiment is one for managing the margin deposit information of the market maker and foreign currency denominated settlement gains / losses generated in foreign currency transactions as margin information. Maintains and manages multiple foreign currency denominated margin deposit information and yen deposit denominated deposit information of the orderer such as an individual investor in the exchange database 119, and also provides information on foreign currency denominated settlement gains / losses generated in foreign currency transactions. It is maintained and managed for each orderer and each market maker.

  6A shows an example of the margin information of the market maker, and FIG. 6B shows an example of the margin information of the orderer. The margin information of the present embodiment is configured to include foreign currency denominated settlement gains and losses before conversion processing as shown in FIG. In addition, as described later, the orderer deposits these margins by opening a predetermined yen-denominated account and depositing a predetermined margin according to the scale of the transaction. Established, depositing yen-denominated margin deposits yen-denominated margin on the exchange. In addition, information related to foreign currency denominated settlement gains and losses can be held separately from margin information.

  As described above, the foreign currency denominated settlement gains and losses of the market maker according to this embodiment are managed by being transferred to the foreign currency denominated margin, but the evaluation is performed in yen as with the orderer. Therefore, as shown in Fig. 6 (a), the market maker uses the yen-denominated appraisal value that is the sum of the yen based on the clearing price corresponding to the foreign currency-denominated margin and the yen deposit deposit amount. The margin deposit amount is evaluated, and deposits and / or withdrawals may be performed only on margin deposits in yen.

  In addition, in the exchange exchange margin transaction of this embodiment, the exchange transaction executed between the market maker and the supplier who provided the bid information or offer information is executed between the market maker and the exchange. Treat as two separate forex transactions of the first transaction and the second transaction executed between the trader and the exchange. In other words, by treating all the trading partners of the trading company and market maker as transactions that are replaced with exchanges, the receivables and payables of exchange transactions established between the trading company and the market maker are changed to the trading company. Then, the trader (orderer) and the market maker each execute the trade with the exchange as a direct counterparty.

  3 and 4 are diagrams showing a processing flow of the exchange exchange margin trading system 1 of the present embodiment.

  First, an individual investor or the like connects his / her computer (orderer terminal 300) to a server 200 owned by a trader dealing with exchange exchange margin trading, and personal information through a predetermined transaction application screen provided by the server 200. And open an account for exchange margin trading. In the server 200, when it is determined that the credit information of the individual investor or the like is suitable for the transaction conditions through the credit screening based on the registered personal information, the trader can use the FX server of the exchange system 100 from the trader terminal 201. 120, the customer information such as the individual investor, account opening information and the like are registered in the FX server 120. The server 200 is, for example, a WEB server that provides a WEB site operated by a trader.

  The customer management unit 114 of the exchange central server 110 uses personal information such as individual investors, transaction amounts, and various transaction conditions as predetermined standards in accordance with customer information registration processing from the trader terminal 201 to the FX server 120. Compare and check, and perform registration processing of individual investors etc. to the exchange. Then, after completing the registration of the customer registration process, the customer management unit 114 outputs an ID and password issue request to the authentication server 140, and the issued ID and password are registered in the authentication database 141. The issued and registered ID and password are reflected (stored) in the customer database 122 of the FX server 120 by the customer management unit 114 or the FX management unit 112 and transmitted to the trader terminal 201. The trader notifies the orderer terminal 300 of the ID and password information acquired from the exchange system 100, and performs an account opening notice including necessary margin information.

  The orderer terminal 300 performs deposit processing for a margin required for the account opening notification. The trader performs margin deposit confirmation processing through the trader terminal 201 and transmits the confirmed deposit information to the FX server 120 of the exchange system 100. The customer management unit 114 of the exchange central server 110 stores the received payment information in the customer database 122. The customer management unit 114 of the exchange central server 110 issues a foreign exchange margin transaction start permission notice directly to the orderer terminal 300 after completing the deposit registration process in the customer database 122 of the FX server 120.

  When an individual investor or the like (orderer terminal 300) directly connects to the transaction system 100 via the network N based on the transaction start permission (step S101), the FX server 120 of the exchange central server 110 connects to the orderer terminal 300. A predetermined login screen is provided, and the orderer logs in using the ID and password acquired through the trader. The ID and password input on the login screen displayed on the orderer terminal 300 are transmitted via the FX server 120 or directly to the authentication server 140, and the authentication server 140 performs authentication processing (step S301). .

  After the authentication process, the customer management unit 114 executes a transaction start process in order to perform a foreign exchange transaction at the orderer terminal 300, and a predetermined screen program stored in the FX database 121 with respect to the FX server 120. Is transmitted to the orderer terminal 300. The FX server 120 transmits the screen program to the orderer terminal 300.

  On the other hand, the market maker inputs bid information / offer information for each transaction currency (EUR / USD, EUR / GBP, etc.) via the MM terminal 400 and transmits it to the exchange system 100 (step S501). The bid information / offer information transmitted from the market maker is input to the transaction rate management unit 116 through the MM server 130, and the exchange rate information of each transaction currency is generated by the transaction rate management unit 116. A predetermined screen for foreign exchange transactions is displayed on the orderer terminal 300, and the transaction central server 110 provides the generated exchange transaction rate information to the orderer terminal 300 in real time (step S302). The orderer terminal 300 refers to the exchange transaction rate information (rate and its tradeable quantity) fluctuating in real time displayed on the predetermined screen, and inputs the purchase or sell order information from the predetermined order form to perform the transaction. To the system 100. In addition, an order change or cancellation is also input from a predetermined change / cancellation form and transmitted to the exchange system 100 (step S102).

  For example, when receiving the order information from the orderer terminal 300, the FX server 120 (transaction processing unit 123) outputs the received order information to the transaction management unit 115 (step S303), and the transaction management unit 115 Order method (single order, OCO order, IfDone order, IfDoneOCO order, streaming order) based on the detailed information included in the information (bid rate and offer rate specified by the orderer, conditions for transaction quantity, etc.) The transaction process is performed in accordance with the order method and the bid rate or offer rate specified by the orderer. Specifically, the transaction management unit 115 receives the received order information, determines the success or failure of the order according to the order contents and the bid value or the offer value, and executes a new order execution process when the order is established. Various processing such as settlement processing for resale / repurchase of the position is performed (step S304), and the processing results are transmitted to the FX server 120 and the MM server 130 (step S305).

  At this time, the transaction management unit 115 individually performs settlement processing for resale / repurchase of the position held by the orderer and the market maker (steps S304a and S304b), and performs the FIFO method, the designated settlement method, etc. Perform the difference settlement process. Upon receiving the processing result, the transaction processing unit 123 of the FX server 120 stores data (order information, open interest information, execution information, margin information, etc.) stored in the customer database 122 of the corresponding individual investor based on the processing result. ) And the processing result is transmitted to the orderer terminal 300 (step S306). On the other hand, the MM server 130 that has received the processing result also updates the data (open interest information, contract information, margin information, etc.) stored in the MM database 131 of each relevant market maker based on the processing result. Then, the processing result is transmitted to the MM terminal 400 (step S306). At this time, the transaction management unit 115 similarly stores these processing results in the exchange database 119 as well.

  When the transaction processing unit 123 in the FX server 120 of the exchange system 100 receives the order information from the orderer terminal 300 in step S303, the transaction processing unit 123 adds the customer information registered in the customer database 122 of the FX server 120 to the customer information. Credit processing based on, for example, credit processing such as whether the order content matches the transaction conditions based on margin information or the like can be performed. As a result of this credit processing, if the order information transmitted from the orderer terminal 300 does not match the transaction conditions, etc., an order information error notification is transmitted to the orderer terminal 300, assuming that the order information includes error information. To do. For example, if the upper limit of the tradeable amount set based on the relationship between margin and leverage is exceeded, the order is not accepted.

  When the transaction is completed for the order information of the orderer, the transaction management unit 115 executes (establishes) the transaction between the relevant market maker who provided the bid information or the offer information and the business operator, Information and the like are stored in the exchange database 119.

  Further, the orderer and the market maker can make a transaction status inquiry through the orderer terminal 300 and the MM terminal 400. For example, when an individual investor or the like presses a predetermined inquiry button on the display screen displayed on the orderer terminal 300, an inquiry request is transmitted from the orderer terminal 300 to the FX server 120 of the exchange system 100. The server 120 outputs an inquiry request to the exchange central server 110 based on the inquiry request from the orderer. The transaction management unit 115 of the exchange central server 110 extracts various data corresponding to the order information table, order history table, execution information table, and margin information table of the exchange database 119 in response to the inquiry request. Perform status acquisition processing, for example, when a request for open interest inquiry is made, generate open interest list information (contract date, execution number, product, trading category, open interest quantity, execution price, etc.) and send it to the FX server 120 To do. The FX server 120 can transmit a predetermined screen (open interest list screen) including the received open interest list information to the orderer terminal 300. In addition, the transaction management unit 115 also receives order list information (order status, order method, product name, trading category, execution condition, order price, order quantity, contract price, contract constant quantity based on the query request (query request). Order date / time, order acceptance number, etc.), order history information, execution information, margin information, etc. can be generated and transmitted to the orderer terminal 300 through the FX server 120. Similarly, the MM server 130 outputs an inquiry request to the exchange system (exchange) based on the inquiry request from the MM terminal 400 and transmits information based on the inquiry request received from the exchange central server 110 to the MM terminal 400. Execute transaction status inquiries and margin status inquiries.

  FIG. 5 is a diagram showing an example of the position information of trading participants stored in the exchange database 119. FIG. 5A is the position information of the orderer, and FIG. It is an example of manufacturer's open interest information. In this way, the orderer conducts a foreign exchange transaction by reselling / repurchasing a new order and the open interest held, and the orderer and the market maker receive (pay) the settled profit / loss.

  Further, when the end of the transaction time (market close) arbitrarily determined by the exchange is reached, the exchange system 100 performs a market close process for the foreign currency transaction (S307). In this market closing process, if there is a valuation loss due to changes in the daily market price, it is necessary to increase the margin, so the open interest traded from the transaction start time to the transaction end time is confirmed, This is a process for reassessment (price washing) of unopened open interest (including open open interest executed before the transaction date) of each orderer. For this reason, the exchange system 100 generates a clearing price for each transaction currency in a foreign currency transaction that serves as a reference price for revaluation of unsettled open interest (step S308).

  Specifically, the transaction management unit 115 generates the contract price (exchange transaction rate) of each transaction currency pair that is stored in the exchange database 119 and is closest to the end of the transaction. The clearing price can be arbitrarily determined by the exchange. For example, the clearing price can be determined based on the contract price (exchange rate) of each trading currency pair and the sell / buy volume. A clearing price can be generated. Subsequently, the exchange system 100 performs a market closing process for each transaction currency pair (USD / JPY, EUR / JPY, etc.) for the yen transaction after a predetermined time has elapsed after the market closing of the foreign currency transaction ( Step S309), the unsettled open interest of the yen transaction traded from the transaction start time to the transaction end time is confirmed, and each transaction currency in the yen transaction that becomes the reference price for revaluation of the unsettled open interest A settlement price is generated (step S310).

  When the clearing price of each transaction currency in the foreign currency transaction and the clearing price of each transaction currency in the yen transaction are generated, the conversion processing unit 118 performs the conversion process of the foreign currency denominated settlement profit / loss of the foreign currency transaction (step S311). ). The conversion processing unit 118 obtains the foreign currency denominated settlement profit / loss information settled in the foreign currency transaction from the orderer's margin information stored in the exchange database 119, and the clearing price using the corresponding foreign currency and yen as the transaction currency pair. The conversion process described later is performed using the above, and the yen corresponding to the foreign currency denominated settlement profit / loss is reflected in the orderer's yen denominated margin and the market maker's yen denominated margin (step S312).

  At this point, settlement profits and margins of the orderer and the market maker can be grasped on a yen basis, and the transaction management unit 115 relates to the unsettled open interest of each orderer and each market maker from the exchange database 119. The information (contract price, contract amount) is acquired, and the price washing process based on the settlement price is performed on a yen basis (step S313). Specifically, it performs the process of calculating valuation gains / losses based on the clearing price of unsettled open interests held, and the amount obtained by subtracting the valuation gains / losses of unsettled open interests from the margin amount including foreign currency denominated settlement gains / losses is the transaction amount. It is determined whether or not the required margin amount required by the exchange is required for the participant. If not satisfied, the margin is insufficient (notification of confirmation), and the result of the price washing process (market price information) is sent via the FX server 120 and the MM server 130 to the orderer. The data is transmitted to the terminal 300 and the MM terminal 400 (step S314).

  In addition, the swap point management unit 117 of the exchange central server 110 has swap point information regarding the open positions and open positions transmitted from the MM terminals 400 of a plurality of market makers (swap point information regarding currencies provided by a plurality of market makers. ) To calculate the swap point value. This swap point value is transmitted to the orderer terminal 300 together with the price washing information in step S314.

<Conversion processing and leveling processing>
FIGS. 7 to 16 are diagrams for explaining conversion processing of foreign currency denominated settlement gains / losses in exchange exchange margin trading according to the present embodiment, and the conversion processing according to the present embodiment occurs in the settlement processing for transactions between foreign currencies. Yen corresponding to netted foreign currency settlement gains / losses netted with market manufacturer's foreign currency margin, and determined between the yen and foreign currency on the date when the foreign currency settlement gains / losses are fixed The yen based on the clearing price, which is the base price of, will be transferred between the market maker and the orderer's yen-denominated margin. These processes are performed by the conversion processing unit 118 described above.

  Here, in this embodiment, the conversion method between yen currency (first currency) and foreign currency for converting foreign currency denominated settlement gains and losses into yen will be described as an example. It can also be applied to conversions between other currencies. For example, when settlement processing and margin management are performed on a dollar currency basis, the foreign currency is a currency including yen other than dollar currency. In this case, the foreign currency denominated settlement profit / loss is a foreign currency other than the dollar currency (including the yen currency), and the conversion process of this embodiment can be applied as a conversion process between the dollar currency and the foreign currency with the dollar currency as the first currency. It is.

  In addition, the conversion processing according to the present embodiment netts (offsets) the orderer's foreign currency denominated settlement gains / losses with foreign currency denominated margins of at least one market maker among a plurality of market makers, thereby obtaining the netted foreign currency denominated settlement gains / losses. It is configured to transfer the corresponding yen between the market maker and the orderer's yen denominated margin. In the following description, the market maker that is the target of the conversion process for the orderer's foreign currency denominated settlement profit / loss, in other words, the market maker corresponding to the conversion process of the present embodiment will be referred to as a specific market maker (specific MM). And at least the specified MM among the multiple market makers has a margin denominated in yen (first currency) as a margin and a foreign currency-denominated margin is generated. For market makers other than the specified MM, the margin denominated in a foreign currency No deposit is generated and only the margin in yen is the same as the orderer.

  FIG. 7A is an example of conversion processing when the orderer has a positive (profit) foreign currency denominated settlement profit / loss in the foreign currency denominated settlement profit / loss conversion method of the present embodiment, and FIG. It is an example of the conversion process in case a person has a negative (loss) foreign currency denominated settlement profit or loss.

  As shown in FIG. 7 (a), when the orderer obtains a foreign currency denominated settlement gain of 500 dollars in a foreign currency transaction, a positive 500 dollars is allocated to the foreign currency denominated margin of the specified MM and the settlement gain of 500 dollars is added. Is netted (offset) with foreign currency denominated margin. That is, plus 500 dollars is added to the foreign currency denominated margin of the specific MM, and the orderer's foreign currency denominated settlement profit / loss is set to zero. Then, the yen corresponding to the added foreign currency-denominated settlement gain of 500 dollars ($ 500 x 100 yen (clearing price between yen and foreign currency)) is calculated, and the calculated yen is calculated from the yen-denominated margin of the same specific MM. In addition to subtraction (subtraction), the yen deducted from the yen-denominated margin of the specific MM is added to the orderer's yen-denominated margin. At this time, the yen-denominated appraisal value based on the clearing price of the specific MM-denominated margin and the foreign currency-denominated margin does not change before and after the conversion process.

  In addition, as shown in FIG. 7B, when the orderer obtains a foreign currency denominated settlement gain of minus 500 dollars in a foreign currency transaction, minus 500 dollars is allocated to the foreign currency denominated margin of the specific MM and minus 500 dollars. Netting settlement gains and losses with foreign currency margin. In other words, $ 500 is subtracted from the margin denominated in the foreign currency of the specific MM, and the orderer's foreign currency denominated settlement profit / loss is set to zero. Then, the subtracted yen ($ 500 x 100 yen (clearing price between yen and foreign currency)) corresponding to the foreign currency denominated settlement gain / loss of the foreign currency of $ 500 is calculated, and the calculated yen is calculated from the orderer's yen-denominated margin. In addition to subtracting (subtracting), the yen deducted from the orderer's yen denominated margin is added to the yen denominated margin of the specific MM. Similarly, the yen-denominated appraisal value based on the clearing price of the yen-denominated margin of the specific MM and the foreign currency-denominated margin does not change before and after the conversion process.

  As described above, the foreign currency denominated settlement profit / loss conversion method of the present embodiment is netted with the foreign currency denominated margin of the specific MM in the foreign currency transaction (net processing of foreign currency denominated settlement profit / loss). The conversion process between yen and foreign currency is performed by transferring the yen equivalent to the foreign currency denominated settlement gain / loss of the orderer between the specific MM and the orderer's yen denominated margin (yen transfer process).

  More specifically, the conversion method of foreign currency denominated settlement gains / losses in exchange exchange margin trading of this embodiment is that the foreign currency denominated settlement gains / losses generated by the orderer are as follows. Instead, the trader (orderer) performs conversion processing independent of the market maker with the exchange as the direct counterpart. The exchanges are independent, foreign currency denominated margins generated at specific MM (debt and debt between specific MM and exchange) and settlement gains / losses of the orderer's foreign currency (between the orderer and exchange). The conversion process is performed in which the yen corresponding to the offset is transferred between the yen denominated margin of the specific MM and the orderer's yen denominated margin.

  In other words, foreign currency denominated settlement gains / losses are netted with the corresponding foreign currency margins of the market maker, and the yen equivalent to the netted foreign currency settlement gains / losses is directly transferred between the specific MM and the orderer's yen denominated margins. Therefore, there is no need to conduct a conventional exchange transaction for foreign currency denominated settlement gains and losses. For this reason, it is possible to reduce the costs associated with the exchange rate fluctuation risk in currency exchange transactions, and it is not necessary for the orderer himself to perform exchange transactions for foreign currency denominated settlement gains and losses, reducing the burden on the orderer in foreign currency transactions. Is possible.

  Furthermore, in the conversion method of this embodiment, the orderer's foreign currency settlement gain / loss is netted with the foreign currency denominated margin of the specific MM, so the orderer can open a separate foreign currency transaction account for the foreign currency settlement gain / loss. Since there is no burden such as foreign currency fund management and processing of deposits and withdrawals of foreign currencies other than yen does not occur, transactions between foreign currencies can be suitably performed only with margins denominated in yen. Further, since the market maker also manages the foreign currency denominated settlement gains and losses generated in the foreign currency transaction by directly transferring them to the foreign currency margin, the burden of procuring foreign currency funds is reduced. Also, the exchange side can smoothly manage the foreign currency denominated settlement gains / losses generated in foreign currency transactions on a yen basis.

  Next, the conversion method of this embodiment when there are a plurality of specific MMs will be described.

  As shown in FIG. 8, when a plurality of specific MM_A, specific MM_B, and specific MM_C respond to a conversion to the orderer's foreign currency settlement profit / loss, each of the orderer A, the orderer B, and the orderer C in this embodiment. Rather than allocating the foreign currency denominated settlement gains / losses equally to these specific MM_A, specific MM_B, and specific MM_C and performing netting processing and yen transfer processing according to the allocated foreign currency amount, each foreign currency of multiple specific MMs Allocating the orderer's foreign currency settlement gains / losses so that the deposit deposit amount approaches 0 (zero), and assigning the orderer's foreign currency settlement gains / losses so that the difference in each foreign currency between the specified MMs is minimized The conversion process with the conversion process is performed.

  Specifically, the conversion processing unit 118 acquires the foreign currency denominated settlement gains and losses of the orderer A, the orderer B, and the orderer C from the exchange database 119, and performs the conversion in the total foreign currency denominated settlement gains and losses. Calculate the total amount of settlement gains and losses denominated in foreign currencies. In other words, the conversion processing unit 118 calculates the total amount of claims and liabilities of settlement gains / losses in foreign currency between the orderer (trader) and the exchange. In the example of FIG. 8, plus 5000 dollars is calculated as the total foreign currency denominated settlement profit / loss. Next, the conversion processing unit 118 sorts the specific MM_A, the specific MM_B, and the specific MM_C in ascending order (descending order) of the foreign currency denominated deposit amount, and the specific MM having the smallest margin deposit amount and the second least specific amount The MM is specified, and the difference (difference) between these deposits in foreign currency deposits is calculated.

  As shown in FIG. 9, the specific MM with the total foreign currency denominated settlement profit / loss of 5000 dollars and the margin deposit amount denominated in the foreign currency is specified as the specific MM_C, and the second specific MM is specified as the specific MM_A. Since the total amount of foreign currency denominated settlement gains and losses is positive and the foreign currency denominated margin deposit of the specific MM_C is negative, first, the foreign currency denominated deposit deposit of the specific MM_C is brought close to 0 (set to 0) A), a positive foreign currency denominated settlement profit or loss is assigned to the specific MM_C. The conversion processing unit 118 allocates 3000 dollars (0-(-3000) dollars) out of the total foreign currency denominated settlement profits of 5000 dollars to the specific MM_C (first allocation process). As a result of this allocation processing, the margin deposit amount in the foreign currency for the specific MM_C becomes zero.

  Further, in order to allocate the remaining $ 2,000 of the total foreign currency denominated settlement profit / loss to the plurality of specific MMs, the conversion processing unit 118 specifies the specific MM_A, the specific MM_B, and the specific MM_C in ascending order of the deposit amount of the foreign currency denominated margin after the first allocation. The specified MM having the smallest foreign currency denominated margin deposit amount after allocation and the second least specific MM are identified, and the difference between these identified foreign currency deposit deposit amounts is calculated. As shown in FIG. 9, the deposit amount in foreign currency-denominated margin after the first allocation is specified MM_C, specified MM_A, and specified MM_B in ascending order, and the foreign currency-denominated evidence between the first specified MM_C and the second least specified MM_A. The difference in the deposit amount is $ 10,000. The conversion processing unit 118 allocates 1000 dollars to the specific MM_C out of the foreign currency denominated settlement profit / loss of 2000 dollars that is the remaining unallocated portion after the first allocation (second allocation process). By this allocation process, the difference between the deposit amount of the foreign currency denominated deposit between the specific MM_C and the specific MM_A becomes 0, which is the same amount.

  Further, the conversion processing unit 118 allocates the foreign currency denominated margin deposit amount after the second allocation in order to allocate the total foreign currency denominated settlement profit / loss of 1000 dollars, which is the remaining unallocated portion after the second allocation, to each of the plurality of specific MMs. The specific MM_A, the specific MM_B, and the specific MM_C are sorted in ascending order to identify the specific MM with the smallest foreign currency denominated deposit amount after allocation and the second specific MM. Calculate the difference in the deposit amount. Specifically, the two specific MMs of the specific MM_A and the specific MM_C are identified as the smallest specific MM with the same amount, and the specific MM_B is identified as the second least specific MM. Since the deposit amount of the foreign currency denominated margin for the specific MM_A and the specific MM_C after the second allocation is the same, and the difference between the specific MM_B and the specific MM_B is also the same, the specific MM_B and the specific MM_A In other words, the difference between the specified MM_A and the specified MM_C is the smallest (the difference is 0) so that the difference between the deposits in the foreign currency and the difference between the specified MM_B and the specified MM_C are the same. ) So that the remaining $ 1000 of the total foreign currency denominated settlement profit / loss is equally allocated by $ 500 (third allocation process).

  Then, the conversion processing unit 118 finally determines the foreign currency (foreign currency allocation total amount) to be assigned to each specific MM as $ 500 for the specific MM_A, 0 for the specific MM_B, and $ 4500 for the specific MM_C. The conversion processing unit 118 nets the determined foreign currency allocation amount with the margin denominated in each specific MM, subtracts the yen equivalent to the foreign currency allocation amount from the deposit amount denominated in yen for each specific MM, and deducts the total amount deducted in yen Is transferred to the yen denominated margin of each orderer based on the orderer's foreign currency denominated settlement profit or loss (see the lower part of FIG. 10). At this time, in the example of FIG. 8, since the orderer C's foreign currency denominated settlement profit / loss is negative (loss), the conversion processing unit 118 uses the yen transferred from the orderer C's yen denominated margin and the specific MM. The yen to be transferred is transferred to the deposit amount of the orderer A and the orderer B which are positive foreign currency denominated settlement gains and losses.

  FIG. 10 is an example of a conversion process result based on the foreign currency allocation amount allocated by the leveling process, and the difference in the deposit deposit amount in foreign currency between the specific MM_A and the specific MM_C is the minimum (difference 0). ing. Further, the difference between each of the specific MM_A and the specific MM_C with respect to the specific MM_B is the same amount, and it can be seen that the deposit amount of the foreign currency denominated deposit is leveled between the specific MMs.

  In the above description, when the total foreign currency denominated settlement gain or loss is smaller than the negative foreign currency denominated margin deposit amount, the conversion processing unit 118 adds the total foreign currency denominated settlement gain or loss to the specified MM having the negative foreign currency denominated margin deposit amount. To finish the leveling process. In addition, when the total foreign currency denominated settlement profit / loss is smaller than the difference between the deposit amount denominated in foreign currency between the specified MM with the smallest deposit deposit amount denominated in the foreign currency and the second smallest specified MM, the conversion processing unit 118 All the total foreign currency settlement profit / loss is assigned to the smallest specific MM and the leveling process is terminated.

  If the total foreign currency denominated settlement gain or loss is negative, in the example of FIG. 9, the negative foreign currency denominated settlement gain or loss is allocated so that the positive deposit denominated in foreign currency of the specific MM_B and / or the specific MM_A approaches 0 The negative foreign currency denominated settlement profit / loss is allocated so that the difference in absolute value of the margin deposit amount between the specific MMs is minimized.

  As described above, in the conversion method of the present embodiment, when there are a plurality of specific MMs, the margin deposit amount denominated in the foreign currency between the specific MMs is brought close to 0, and the difference between the deposit amounts denominated in the foreign currency between the specific MMs is minimized. By assigning the orderer's foreign currency denominated settlement profit / loss so as to be, the following convenience for the specific MM can be provided.

  In other words, if the foreign currency denominated settlement gain or loss in a foreign currency transaction of a specific MM is negative, margin management will be performed in yen as described above, so instead of newly depositing foreign currency, Yen must be deposited separately to satisfy the margin requirements. For this reason, the cost with respect to a yen fund occurs. In other words, when a specific MM borrows and deposits foreign currency from another, it pays interest to the borrower, and when surplus funds are deposited, the interest rate that should be originally obtained is not obtained. However, by performing leveling as in the present embodiment, the burden on yen funds can be reduced and funds can be operated efficiently.

  In addition, when foreign currency-denominated settlement gains / losses in foreign currency transactions of a specific MM are positive, the total yen-denominated margin deposit amount and the foreign currency-denominated margin deposit amount satisfy the margin requirement. In this case, even if the deposit amount in foreign currency is greater than the required amount in margin in yen, the surplus amount of yen cannot be withdrawn for the margin in foreign currency. The surplus amount (fund) for settlement profits can be managed smoothly.

  In addition, since the cumulative total of transactions in the entire market for exchange exchange margin trading is plus or minus zero, it is possible to improve the efficiency of funds for specific MMs by leveling between specific MMs. Risk of bankruptcy can also be reduced.

  11 to 16 are flowcharts of the conversion process including the leveling process of the present embodiment. FIGS. 12 and 13 are flowcharts showing the conversion process in the case where the total of the foreign currency denominated settlement gains and losses of the orderer who is the conversion process target following FIG. 11 is positive, and FIGS. It is the flowchart which showed the conversion process in case the sum of the foreign currency denominated settlement profit / loss is negative.

  The conversion processing unit 118 obtains the foreign currency denominated settlement profit / loss information settled in the foreign currency transaction from the orderer's margin information stored in the exchange database 119, and obtains the settlement price of the foreign currency of the settlement profit / loss. (Step S1101). At this time, if the foreign currency denominated settlement profit / loss is not stored (no foreign currency transaction has been performed and no foreign currency denominated settlement profit / loss has occurred), the conversion processing unit 118 ends the conversion process (step S1102). .

  When the foreign currency denominated settlement profit / loss information can be acquired in step S1102, the conversion processing unit 118 acquires each foreign currency denominated margin deposit amount of a plurality of specific MMs from the exchange database 119 (step S1103). Then, the conversion processing unit 118 determines whether the total amount of the settlement gains / losses denominated in the foreign currency of each orderer is positive or negative (step S1104). If it is determined that it is positive, the process proceeds to step S1105. If it is determined as minus, the process proceeds to step S1109.

  First, a conversion process involving a leveling process when the total amount of settlement gains / losses denominated in a foreign currency is positive will be described with reference to FIGS.

  The conversion processing unit 118 determines whether or not there is a specific MM in which the deposit amount denominated in the foreign currency of the specific MM acquired in step S1103 is negative (step S1105). Then, a process of allocating positive foreign currency denominated settlement gains and losses so as to bring the negative deposit amount close to 0 is performed on the identified MM having the negative deposit deposit amount denominated in the foreign currency (step S1106).

  FIG. 12 is a flowchart showing a detailed process flow of the process of assigning a positive foreign currency denominated settlement profit / loss so that the negative deposit amount approaches 0 in step S1106. As illustrated in FIG. 12, the conversion processing unit 118 grasps (counts) the number of specific MMs having a minus foreign currency denominated margin deposit amount (step S1201). When the number of specific MMs with a minus foreign currency deposit amount is 1 (not multiple), the minus foreign currency deposit amount of one specific MM is set to 0 (to approach 0) plus foreign currency Assign debit settlement gains and losses. For example, if the deposit amount is -3000 dollars in foreign currency, 0-(-3000) dollars plus foreign currency settlement gain / loss is allocated (step S1202).

  On the other hand, if it is determined in step 1201 that there are a plurality of specific MMs having a minus foreign currency denominated margin deposit amount, the conversion processing unit 118 determines that the specific MM having the largest minus foreign currency deposit deposit amount and 2 The second most specific MM is specified (step S1203), and the difference between the deposit amount of foreign currency deposits between the first most specific MM and the second most specific MM is calculated (step S1204). For example, when the first most specific MM has -5000 dollars and the second most specific MM has a deposit deposit amount of -3000 in foreign currency, the difference (difference) is 2000 dollars.

  When the conversion processing unit 118 calculates the difference between the specific MM with the largest negative foreign currency-denominated margin deposit amount and the second most specific MM, the conversion MM 118 next determines the total amount of settlement gains and losses denominated in the foreign currency with the largest amount. The allocated amount divided by the number is calculated (step S1205). When the first most specific MM number is 1, the allocated amount = foreign currency denominated settlement profit / loss. The conversion processing unit 118 compares the calculated allocation amount and the calculated difference amount with an absolute value, and determines whether or not the calculated allocation amount is smaller than the calculated difference amount (step S1206). Assigns the allocation amount calculated in step S1205 to the specific MM with the largest negative foreign currency denominated deposit amount (step S1207). On the other hand, if it is determined that the allocated amount calculated in step S1206 is larger than the calculated difference, the largest gain or loss in foreign currency-denominated settlement corresponding to the difference calculated in step S1204 among the allocated amounts is the largest. Assign to a specific MM (step S1208).

  Returning to FIG. 11, after the process of allocating positive foreign currency denominated settlement gain / loss so that the negative deposit amount approaches 0 in step S <b> 1106, the conversion processing unit 118 determines whether the unallocated plus foreign currency denominated settlement profit / loss is 0. It is determined whether or not (step S1107). If it is determined that the unallocated plus profit / loss in foreign currency settlement is zero, that is, if there is no positive foreign currency settlement gain / loss that can be allocated to a specific MM, the netting process shown in FIG. Proceed to processing and margin reflection processing.

  If it is determined in step 1107 that the unallocated plus foreign currency settlement gain / loss that can be allocated is not 0, that is, if there remains a positive foreign currency settlement gain / loss that can be allocated to the specific MM, the process proceeds to step S1105. Returning, it is determined again whether there is a specific MM having a minus foreign currency denominated margin deposit amount. Here, if it is determined that there is a specific MM having a negative foreign currency-deposited margin deposit amount, step S1106 is performed again, and the remaining MM is given priority over the specific MM having a negative foreign-currency deposit deposit amount. Perform the process of assigning positive foreign currency settlement gains and losses.

  If it is determined in step S1105 that there is no specific MM having a minus foreign currency denominated margin deposit amount, and there is an unallocated plus foreign currency denominated settlement profit / loss that can be allocated, the process proceeds to step S1108, and a positive foreign currency denominated margin is obtained. A process of allocating the unallocated portion plus the foreign currency denominated settlement profit or loss that can be allocated to all the specific MMs having the deposit amount so that the difference between the deposit amounts of the foreign currency denominated deposits between the specific MMs is minimized.

  FIG. 13 is a flowchart showing a detailed processing flow of the process of assigning positive foreign currency denominated settlement gains and losses so that the difference between the positive foreign currency denominated margin deposits between the specific MMs in step S1108 is minimized. As shown in FIG. 13, the conversion processing unit 118 determines whether or not the deposit amounts of foreign currency denominated deposits of a plurality of specific MMs are the same amount (step S1301), and in the case of the same amount, the process proceeds to step S1302. In step S1302, an equal allocation amount obtained by dividing the foreign currency denominated settlement profit / loss by the specific number of MMs is calculated. Then, the equal allocation amount calculated in step S1303 is allocated to each specific MM.

  On the other hand, if it is determined in step S1301 that the deposit amounts denominated in a foreign currency of a plurality of specific MMs are not the same amount, the process proceeds to step S1304. In step S1304, a plurality of specific MMs are sorted in ascending order (descending order) of the deposit amount denominated in foreign currency, and the specific MM having the smallest deposit amount in foreign currency and the second specific MM are identified. Then, a difference (difference) in the deposit amount in foreign currency between the specified minimum MM and the second specified MM is calculated (step S1305).

  The conversion processing unit 118 grasps the number of specific MMs with the smallest deposit deposit amount denominated in a foreign currency, and calculates an allocated amount obtained by dividing the total amount of settlement gains and losses denominated in a foreign currency by the specific number of MMs (step S1306).

  Next, the conversion processing unit 118 determines whether the allocated amount calculated in step S1306 is smaller than the difference between the deposit amount denominated in foreign currency between the first smallest specific MM identified in step S1304 and the second smallest specific MM. (Step S1307), if it is determined that the amount is small, the allocated amount calculated in step S1306 is allocated to the specific MM with the smallest deposit amount in foreign currency deposit (step S1308).

  On the other hand, in step 1307, it is determined that the allocated amount calculated in step S1306 is larger than the difference between the deposit amount denominated in foreign currency between the first smallest specific MM identified in step S1304 and the second smallest specific MM. In this case, the process proceeds to step S1309, and the difference in the foreign currency denominated settlement profit / loss is assigned to the specific MM with the smallest margin deposit amount in the foreign currency. Then, it is determined whether or not the allocable unallocated foreign currency denominated settlement profit / loss after the allocation process in step S1309 is 0 (step S1310), and it is determined that there is no allocable unallocated foreign currency denominated settlement profit / loss. Finishes the process of assigning the positive foreign currency denominated settlement profit / loss so that the difference between each positive foreign currency denominated margin deposit amount between the specific MMs is minimized, and proceeds to the netting process, transfer process and margin reflecting process of FIG. .

  On the other hand, if it is determined in step S1310 that the unassigned foreign currency denominated settlement profit / loss that can be allocated is not 0, the conversion processing unit 118 further calculates the remaining foreign currency denominated settlement profit / loss by subtracting the difference from the total amount of the foreign currency denominated settlement profit / loss. In order to assign to a plurality of specific MMs, reference is made to the deposit amount in each foreign currency denominated deposit of the specific MMs after the assignment process of step 1309 (step S1311). At this time, the conversion processing unit 118 determines whether or not the deposit amounts denominated in foreign currencies of the plurality of specific MMs after the allocation process (first allocation process) in step 1309 are the same amount (step S1312). In this case, the process proceeds to step S1313. In step S1313, an equal allocation amount is calculated by dividing the remaining foreign currency denominated settlement profit / loss by the specific number of MMs. Then, the equal allocation amount calculated in step S1314 is allocated to each specific MM.

  On the other hand, if it is determined in step S1312 that the deposit amounts denominated in foreign currencies of the plurality of specific MMs after the allocation process in step S1309 are not the same amount, the process proceeds to step S1315. In step S1315, a plurality of specific MMs are sorted in ascending order (descending order) of the foreign currency denominated deposits after the allocation process, and the second specific MM with the smallest foreign currency denominated deposits after the allocation process is second. Specify few specific MMs. Then, a difference (difference) between the deposit amount of foreign currency-deposited margin between the first specified specific MM and the second specified MM is calculated (step S1316).

  The conversion processing unit 118 grasps the number of specific MMs having the smallest deposit deposit amount denominated in foreign currency after the allocation specified in step S1315, and identifies the total number of remaining foreign currency denominated settlement gains and losses as the smallest The allocated amount obtained by dividing by the number is calculated (step S1317). Thereafter, the conversion processing unit 118 returns to step S1307, and repeatedly performs the processing from step S1309 to step S1317 until all the foreign currency denominated settlement gains and losses are assigned to the specific MM.

  Then, after the allocation process by the above-described foreign currency denominated settlement gain / loss leveling process, the conversion processing unit 118 converts the foreign currency allocation amount allocated to each specific MM as shown in FIG. (Step S1601), the yen based on the clearing price corresponding to the foreign currency allocated amount is deducted from the yen-denominated margin of the specific MM (step S1602), and the deducted yen is added to the orderer's yen-denominated margin. Transfer according to the orderer's foreign currency denominated settlement profit or loss (step S1603)

  Next, the conversion process accompanied by the leveling process when the total amount of settlement gains and losses denominated in a foreign currency is negative will be described with reference to FIGS. 11, 14, and 15.

  The conversion processing unit 118 determines whether or not there is a specific MM in which the deposit amount of foreign currency denominated deposit of the specific MM acquired in step S1103 is positive (step S1109). Then, a process of assigning a negative foreign currency denominated settlement profit / loss so that the positive deposit amount approaches 0 is performed for the identified MM having the positive deposit deposit amount denominated in the foreign currency (step S1110).

  FIG. 14 is a flowchart showing a detailed process flow of the process of assigning a negative foreign currency denominated settlement profit / loss so that the positive deposit amount approaches 0 in step S1110. As shown in FIG. 14, the conversion processing unit 118 grasps (counts) the number of specific MMs having a plus foreign currency denominated margin deposit amount (step S1401). If the number of specific MMs with a positive foreign currency deposit amount is 1 (not multiple), minus foreign currency so that the positive foreign currency deposit amount of one specific MM is set to 0 (to be close to 0) Assign debit settlement gains and losses. For example, in the case of a deposit deposit amount of foreign currency denominated in +3,000 dollars, a negative foreign currency denominated settlement profit or loss of 0-(+ 3000) dollars is allocated (step S1402).

  On the other hand, when it is determined in step 1401 that there are a plurality of specific MMs having a positive foreign currency denominated deposit amount, the conversion processing unit 118 determines that the specific MM having the largest positive foreign currency deposit amount and 2 The second most specific MM is specified (step S1403), and the difference between the deposit amount denominated in foreign currency between the first most specific MM and the second most specific MM is calculated (step S1404). For example, when the first most specific MM has +5000 dollars and the second most specific MM has a deposit deposit amount in foreign currency of +3000, the difference (difference) is 2000 dollars.

  When the conversion processing unit 118 calculates the difference between the specific MM having the largest deposit deposit amount denominated in a foreign currency and the second most specific MM, the conversion MM 118 then determines the total amount of settlement gains and losses denominated in the foreign currency the most. The allocated amount divided by the number is calculated (step S1405). When the first most specific MM number is 1, the allocated amount = foreign currency denominated settlement profit / loss. The conversion processing unit 118 compares the calculated allocation amount and the calculated difference amount with an absolute value, and determines whether or not the calculated allocation amount is smaller than the calculated difference amount (step S1406). Allocates the allocated amount calculated in step S1405 to the specific MM having the largest deposit amount in foreign currency deposit (step S1407). On the other hand, if it is determined that the allocated amount calculated in step S1406 is larger than the calculated difference, the negative foreign currency denominated settlement profit or loss corresponding to the difference calculated in step S1404 is the largest in the allocated amount. The specific MM is assigned (step S1408).

  Returning to FIG. 11, after the process of assigning negative foreign currency denominated settlement gains / losses so that the positive deposit amount approaches 0 in step S1110, the conversion processing unit 118 determines whether the assignable unassigned negative foreign currency denominated settlement profits / losses are zero. It is determined whether or not (step S1111). If it is determined that the minus unallocated negative foreign currency settlement gain / loss that can be allocated is 0, that is, if there is no negative foreign currency settlement gain / loss that can be allocated to a specific MM, the netting process shown in FIG. Proceed to processing and margin reflection processing.

  If it is determined in step 1111 that the unallocated minus foreign currency denominated settlement profit or loss that can be allocated is not 0, that is, if there remains a negative foreign currency denominated settlement profit or loss that can be allocated to the specific MM, the process proceeds to step S1109. Returning again, it is determined whether or not there is a specific MM having a positive foreign currency denominated deposit amount. Here, when it is determined that there is a specific MM having a positive foreign currency-deposited margin deposit, step S1110 is performed again, and the remaining MM is given priority over the specific MM having a positive foreign-currency deposit deposit. Perform the process of assigning negative foreign currency settlement gains and losses.

  If it is determined in step S1109 that there is no specific MM having a positive foreign currency denominated margin deposit amount and there is an unallocated minus foreign currency denominated settlement profit / loss that can be allocated, the process proceeds to step S1112 and negative foreign currency denominated margin A process of allocating the unallocated minus foreign currency denominated settlement gains / losses that can be allocated to all the specific MMs having a deposit amount so as to minimize the difference between the deposit amounts of the respective foreign currency denominated deposits between the specific MMs.

  FIG. 15 is a flowchart showing a detailed processing flow of the process of assigning plus foreign currency denominated settlement gains / losses so that the difference between each minus foreign currency denominated margin deposit amount between the specific MMs in step S1112 is minimized. As shown in FIG. 15, the conversion processing unit 118 determines whether or not the deposit amounts of foreign currency denominated deposits of a plurality of specific MMs are the same amount (step S1501), and proceeds to step S1502 if they are the same amount. In step S1502, an equal allocation amount obtained by dividing the foreign currency denominated settlement profit / loss by the specific number of MMs is calculated. Then, the equal allocation amount calculated in step S1503 is allocated to each specific MM.

  On the other hand, if it is determined in step S1501 that the deposit amount of foreign currency denominated deposits of a plurality of specific MMs is not the same amount, the process proceeds to step S1504. In step S1504, a plurality of specific MMs are sorted in descending order (ascending order) of foreign currency denominated deposits, and the specific MM having the largest foreign currency deposits and the second most specific MM are specified. Then, the difference (difference) in the deposit amount in foreign currency between the specified first most specific MM and the second most specific MM is calculated (step S1505). For example, when there is a specific MM_1 having a foreign currency denominated deposit amount of -5000 dollars and a specific MM_2 having a foreign currency denominated deposit amount of -3000 dollars, the specific MM having the largest foreign currency deposit amount is The specific MM_2, which is the second most specific MM, is specified as the specific MM_1.

  The conversion processing unit 118 grasps the number of specific MMs having the largest deposit amount in foreign currency margin, and calculates an allocated amount by dividing the total amount of settlement gains / losses denominated in foreign currency by the specific number of MMs (step S1506).

  Next, the conversion processing unit 118 determines whether the allocated amount calculated in step S1506 is smaller than the difference between the deposit amount of foreign currency denominated deposit between the first most specific MM specified in step S1504 and the second most specific MM. (Step S1507), if it is determined that the amount is small, the allocation amount calculated in step S1506 is allocated to the specific MM with the largest foreign currency deposit amount (step S1508).

  On the other hand, in step 1507, it is determined that the allocated amount calculated in step S1506 is larger than the difference between the first most specific MM specified in step S1504 and the second most specific MM deposit deposit amount. In this case, the process proceeds to step S1509, and the difference in the foreign currency denominated settlement profit / loss is assigned to the specific MM having the largest deposit amount in foreign currency. Then, it is determined whether or not the allocable unallocated foreign currency denominated settlement profit / loss after the allocation process in step S1509 is 0 (step S1510), and it is determined that there is no allocable unallocated foreign currency denominated settlement profit / loss. Terminates the process of allocating negative foreign currency denominated settlement gains / losses so that the difference between each negative foreign currency denominated margin deposit amount between specific MMs is minimized, and proceeds to the netting process, transfer process and margin reflecting process of FIG. .

  On the other hand, if it is determined in step S1510 that the unassigned foreign currency denominated settlement profit / loss that can be allocated is not 0, the conversion processing unit 118 further calculates the remaining foreign currency denominated settlement profit / loss obtained by subtracting the difference from the total foreign currency denominated settlement profit / loss. In order to assign to a plurality of specific MMs, reference is made to the margin deposit amounts in a plurality of specific MMs after the assignment process in step 1509 (step S1511). At this time, the conversion processing unit 118 determines whether or not the deposit amounts denominated in a foreign currency of the plurality of specific MMs after the allocation processing in step 1509 are the same amount (step S1512). Proceed to In step S1513, an equal allocation amount is calculated by dividing the remaining foreign currency denominated settlement profit / loss by the specific number of MMs. Then, the equal allocation amount calculated in step S1514 is allocated to each specific MM.

  On the other hand, if it is determined in step S1512 that the deposit amounts denominated in foreign currencies of the plurality of specific MMs after the allocation process in step S1509 are not the same amount, the process proceeds to step S1515. In step S1515, a plurality of specific MMs are sorted in descending order (ascending order) of foreign currency denominated deposits after allocation processing, and the second most specific foreign MM deposit deposit after allocation processing is the second. Identify many specific MMs. Then, the difference (difference) between the deposit amount of foreign currency denominated deposits after allocation between the specified most specific MM and the second most specific MM is calculated (step S1516).

  The conversion processing unit 118 grasps the number of specific MMs having the first largest foreign currency denominated deposit amount after the allocation specified in step S1515, and the total number of remaining foreign currency denominated settlement gains and losses is the most specific MM. The allocated amount obtained by dividing by the number is calculated (step S1517). Thereafter, the conversion processing unit 118 returns to step S1507, and repeatedly performs the processing from step S1509 to step S1517 until all the foreign currency denominated settlement gains and losses are assigned to the specific MM.

  Then, after the allocation process by the above-described foreign currency denominated settlement gain / loss leveling process, the conversion processing unit 118 converts the foreign currency allocation amount allocated to each specific MM as shown in FIG. (Step S1601), the yen based on the clearing price corresponding to the foreign currency allocated amount is deducted from the yen-denominated margin of the specific MM (step S1602), and the deducted yen is added to the orderer's yen-denominated margin. Transfer according to the orderer's foreign currency denominated settlement profit or loss (step S1603)

  As described above, in the above embodiment, the conversion method (each step) of foreign currency denominated settlement gains / losses in exchange exchange margin trading of the present invention can be realized as a program executed by a computer (CPU), and the foreign currency denominated settlement gains / losses of the present invention. It is also possible to provide the conversion method in the form of a program. These programs can be provided in a state of being recorded on a computer-readable recording medium, or through a predetermined communication network or communication line. Examples of the computer-readable recording medium include an optical disc such as a CD-ROM. , DVD-ROM and other phase change optical disks, magneto-optical disks such as MO (Magnet Optical) and MD (Mini Disk), magnetic disks such as floppy (registered trademark) disks and removable hard disks, compact flash (registered trademark), smart Memory cards such as media, SD memory cards, and memory sticks are listed.

  In addition to the above-described hardware configurations, each server in the above embodiment includes operation input means such as a keyboard, mouse, and scanner, display means such as a liquid crystal display, output means such as a printer and a speaker, a main storage device (memory ), An auxiliary storage device (hard disk or the like), etc., and each terminal can be provided with these means. Control of each unit is performed by a control unit (CPU) that controls the server or the entire computer.

  In addition, although specific embodiment was described in detailed description of this invention, it can change variously within the range which does not deviate from the summary of this invention. Therefore, the scope of the present invention is not limited to the above-described embodiment, but should be determined based on the description of the scope of claims and equivalents thereof.

The system block diagram of the exchange exchange margin trading system to which this invention is applied. The block diagram of the configuration of the exchange central server of the exchange exchange margin trading system to which the present invention is applied. The flowchart figure for demonstrating the processing flow of the exchange exchange margin trading system to which this invention is applied. The flowchart figure following FIG. 3 for demonstrating the processing flow of the exchange money-exchange margin trading system to which this invention is applied. The figure which showed an example of the position information in the exchange money-exchange margin trading system to which this invention is applied. The figure which showed an example of the margin information in the exchange money-exchange margin transaction system to which this invention is applied. The figure for demonstrating the conversion method of the foreign currency denominated settlement profit / loss of this invention. The figure for demonstrating the conversion method of the foreign currency denominated settlement profit / loss of this invention. The figure for demonstrating the leveling process in the conversion process of the foreign currency denominated settlement profit / loss of this invention. The figure which showed an example of the margin information after the conversion process of the foreign currency denominated settlement profit / loss of this invention. The flowchart figure for demonstrating the conversion method including the leveling process of the foreign currency denominated settlement profit and loss of this invention. The flowchart figure for demonstrating the conversion method including the leveling process of the foreign currency denominated settlement profit and loss of this invention. The flowchart figure for demonstrating the conversion method including the leveling process of the foreign currency denominated settlement profit and loss of this invention. The flowchart figure for demonstrating the conversion method including the leveling process of the foreign currency denominated settlement profit and loss of this invention. The flowchart figure for demonstrating the conversion method including the leveling process of the foreign currency denominated settlement profit and loss of this invention. The flowchart figure for demonstrating the conversion method of the foreign currency denominated settlement profit / loss of this invention. The figure which showed the conversion method of the foreign currency denominated settlement profit / loss in the conventional over-the-counter margin deposit transaction.

Explanation of symbols

100 Exchange System 110 Exchange Central Server 111 Communication Control Unit 112 FX Management Unit 113 MM Management Unit 114 Customer Management Unit 115 Transaction Management Unit 116 Transaction Rate Management Unit 117 Swap Point Management Unit 118 Conversion Processing Unit 119 Exchange Database 120 For FX Server (trader server)
121 FX database 122 Customer database 123 Transaction processing unit 130 MM server 131 MM database 200 Server 201 Trader terminal 300 Orderer terminal 400 Market maker terminal (MM terminal)

Claims (6)

An exchange exchange margin trading system for providing bid / offer information presented by a market maker to an orderer and performing exchange margin trading through an exchange for the order information from the orderer,
A storage unit that stores the first currency-deposited margin deposit information of the market maker and foreign currency-deposited margin deposit information other than the first currency, and the first-currency-deposited margin deposit information of the orderer;
Net gains and losses in foreign currencies in foreign currency exchange transactions based on the bid / offer information and the order information are netted with foreign currency denominated margins of the market maker, and the first currency-denominated settlement profits and losses corresponding to the net currency-denominated settlement gains and losses A conversion processing unit for performing a conversion process of transferring between the market maker's first currency deposit and the orderer's first currency deposit;
An exchange exchange margin trading system characterized by comprising:   The conversion processing unit determines whether or not the foreign currency denominated settlement profit or loss is a positive profit or loss, and adds the foreign currency for the foreign currency denominated settlement profit or loss to the market maker's foreign currency margin when the profit or loss is the positive profit or loss. Subtracting the first currency denominated settlement profit or loss corresponding to the added foreign currency from the first currency denominated margin of the market maker, and subtracting the first currency denominated settlement profit or loss into the first currency denominated margin of the orderer The exchange exchange margin trading system according to claim 1, wherein a conversion process of adding is performed.   The conversion processing unit determines whether or not the foreign currency denominated settlement profit or loss is a negative profit or loss, and subtracts the foreign currency for the foreign currency denominated settlement profit or loss from the market maker's foreign currency denominated margin when the negative gain or loss is the negative profit or loss. Subtracting the first currency denominated settlement profit or loss corresponding to the subtracted foreign currency from the first currency denominated margin of the orderer and subtracting the first currency denominated settlement profit or loss into the first currency denominated margin of the market maker The exchange exchange margin trading system according to claim 1, wherein a conversion process of adding is performed. The storage unit stores the first currency denominated margin deposit information and the foreign currency denominated margin deposit information for each of a plurality of market makers,
The conversion processing unit calculates the amount of foreign currency allocated based on the foreign currency denominated settlement profit / loss so as to minimize the difference between the foreign currency denominated margins of each market maker based on the foreign currency denominated deposit deposit information of the market maker. The first currency denominated settlement profit or loss calculated for each manufacturer and corresponding to each calculated foreign currency allocation amount is allocated between the first currency denominated margin of each market maker and the first currency denominated margin of the orderer. The exchange exchange margin system according to any one of claims 1 to 3, wherein a conversion process is performed. An information processing apparatus that provides bid / offer information presented by a market maker to an orderer and performs exchange margin trading through an exchange for the order information from the orderer,
A storage unit that stores the first currency-deposited margin deposit information of the market maker and foreign currency-deposited margin deposit information other than the first currency, and the first-currency-deposited margin deposit information of the orderer;
Net gains and losses in foreign currencies in foreign currency exchange transactions based on the bid / offer information and the order information are netted with foreign currency denominated margins of the market maker, and the first currency denominated settlement profits and losses corresponding to the netted foreign currency denominated settlement gains and losses A conversion processing unit for performing a conversion process of transferring between the market maker's first currency deposit and the orderer's first currency deposit;
An information processing apparatus comprising: Providing bid / offer information presented by the market maker to the orderer terminal, and performing exchange margin trading through the exchange for the order information from the orderer terminal in a foreign exchange margin trading system in a foreign exchange margin trading system Conversion methods for
Based on the first currency-deposited margin deposit information of the market maker and foreign currency-deposited margin deposit information other than the first currency and the orderer's first-currency deposit deposit information, the bid / offer information and the order Netting foreign currency denominated settlement gains and losses in information-based foreign currency exchange transactions with the market maker's foreign currency margin;
Transferring the first currency denominated settlement gain or loss corresponding to the netted foreign currency denominated settlement gain or loss between the market maker's first currency denominated margin and the orderer's first currency denominated margin;
A conversion method for foreign currency denominated settlement gains and losses characterized by including:

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