KR100919061B1 - Method and system for calculating substitute price of bond - Google Patents

Abstract

PURPOSE: A method and a system providing and calculating alternative about bond are provided to evaluate the bond by supplying the alternative which is regularly evaluated about bond. CONSTITUTION: A system providing alternative by calculating alternative about bond includes a alternative closing price generating unit(110), a quotation file generator(120), a quotation generating unit(130), a central rate generating unit(140), an alternative adding unit(150), and an alternative reflection unit(160). The central rate generating unit receives accumulation sale chapter including the dealing receipt about the market. The central rate generating unit receives the evaluation prices of cost evaluation groups. The quotation file generator generates the evaluation group quotation file including evaluation prices. The evaluation company quotation includes the mean value of the evaluation prices it uses the plat information dug with the evaluation group quotation.

Description

Method and system for calculating substitute price of bond

The present invention relates to a method and system for calculating and providing a surrogate for evaluating the value of a bond in place of cash when paying a consignment margin or the like to the exchange in the stock market.

The technical problem to be solved by the present invention, in order to be able to evaluate the value of the bond as a substitute securities, regularly calculates the substitute price of the bond using the average price for a certain period every regular calculation date, when a specific condition occurs The purpose is to calculate and provide the substitute price of the bond using the current price.

In order to solve the above technical problem, an embodiment of a system for calculating and providing a substitute price for a bond according to the present invention receives a cumulative store including a transaction history for a plurality of markets, and receives a predetermined priority. Substituent price generation unit for generating a substitute price selected from the closing price of each of the plurality of markets according to; A quote file generation unit which receives the valuation prices of price valuation agencies and generates a valuation agency quote file including the valuation prices; A price master unit for generating an evaluation quote including an average value of the evaluation prices using the item master including the issue information and the substitute price for each item, the appraisal institution quote file and the date information; A reference quote generator for generating reference quote information including reference quotes selected according to a predetermined priority among the substitute price and the evaluation quote price; A substitute price calculation unit configured to update the substitute price information by calculating a substitute price using substitute price information including the substitute price, the reference price information, and the item master; And a surrogate reflecting unit for updating the surrogate price of the item master using the surrogate price information.

In order to solve the above technical problem, an embodiment of a method for calculating and providing a substitute price for a bond according to the present invention receives a cumulative store including a transaction history for a plurality of markets and according to a predefined priority. Generating a surrogate closing price selected from closing prices of each of the plurality of markets; Receiving valuation prices of price valuation agencies and generating a valuation agency quote file including the valuation prices; Generating a rating quote including an average value of the valuation prices using the item master including the issue information and the substitute price for each item, the valuation agency quotation file and the date information; Generating reference price information including a reference price selected according to a predefined priority among the substitute price value and the evaluation quote price; Updating the surrogate information by calculating surrogate price using surrogate price information including the surrogate price, the reference price information, and the item master; And reflecting the surrogate information on the surrogate price of the item master.

According to the present invention, the price calculated on a periodic basis or at any time can be provided for a bond and used to evaluate the value of the bond as a substitute.

The above objects, features and advantages will become more apparent from the following detailed description taken in conjunction with the accompanying drawings. In the following description of the present invention, detailed descriptions of related known functions or components will be omitted when it is determined that the detailed description of the present invention may unnecessarily obscure the subject matter of the present invention. In addition, when a part is said to "include" a certain component, which means that it may further include other components, except to exclude other components unless otherwise stated. For convenience of explanation, the device and method should be described together when necessary.

Hereinafter, with reference to the accompanying drawings to clarify the technical spirit of the present invention will be described in detail a preferred embodiment of the present invention. The same components among the drawings are given the same reference numerals and symbols as much as possible even though they are shown in different drawings, and it is to be noted that in the description of the drawings, components of other drawings may be cited if necessary. In addition, the size of each component in the drawings may be exaggerated for clarity of description.

In the securities market, when deposit funds, credit guarantee deposits and other deposits are paid to the exchange, they may be substituted for cash as securities designated by the exchange among listed securities, which are referred to as substitute securities. It is called price or substitute.

In one embodiment of the present invention, the substitute price is calculated by multiplying the base rate by the assessment rate. Bonds are traded in a number of markets including the general bond market including micro bonds, the KRX Trading System for government securities (KTS), the repo (repurchase agreement) market, and the retail bond market. The method of determining the base price by using the market price and the price of the bond price appraisers is described in detail below. The appraisal ratio is applied to different types of bonds so that the risk of substitute securities is reflected in the substitute price. Equity bonds are 80%, bonds excluding bonds are 85%, and other bonds. Determined at 95%. In the case of the bankruptcy of the issuer, non-priority bonds, which are the first-priority bonds, are set at 90% of the above ratio. In the case of Korean won bonds, less than 10 won of the substitute price is cut off, and in the case of external bonds, less than 1 point of the substitute price is cut off.

In one embodiment of the present invention, the periodic calculation of the bond price of the bond using the average price for a certain period every regular calculation day, and publish, and the failure of the guarantee bond guarantee agency, suspension of stock validity or effect even if the periodic calculation date is not When the risk of a bond changes or market action occurs, such as when it is restarted, the bond price of the bond is calculated and published on a daily basis.

1 is a diagram schematically showing the configuration of a system for calculating and providing a substitute price for a bond according to an embodiment of the present invention.

Referring to FIG. 1, the system 100 for calculating and providing a substitute price for a bond according to the present invention is largely a substitute price generating unit 110, a quote file generating unit 120, a quote generating unit 130, and a reference quote. The generation unit 140, the surrogate adding unit 150, and the surrogate reflecting unit 160 are included.

The proxy price generation unit 110 receives the cumulative store 172 and generates a substitute price 174, which is a closing price for calculating a substitute price for each listed item, where the cumulative store 172 refers to the trading floor of each bond market. The aggregated data includes the trading history of each bond market. The substitute closing price 174 is a closing price selected according to a priority among the closing prices of a plurality of bond markets. In one embodiment, the priority is a closing price of the government bond distribution market and includes a small bond. The final closing price of the closing price and closing price of the retail bond market shall be the second priority.

The quote file generation unit 120 receives an evaluation price file 176 including an evaluation price for each listed item from a plurality of bond evaluation agencies and generates an evaluation institution quote file 178 including the evaluation prices.

The quote generating unit 130 generates the appraisal quote 184 using the appraisal institution quote file 178, the item master 180, and the date information 182 by item and date. Here, the stock master 180 is a data including the issue history, interest history, redemption history, and substitute price for each item of the bond market, and is used to refer to the item information of the bond market when processing data for each item of the bond market in the present invention. do. The date information 182 refers to data including whether or not it is available for sale daily, whether it is Saturday, and whether it is ready for payment. Valuation quotation 184 is data including the average value of the valuation prices of the bond price appraisal institutions and the valuation prices of the bond price appraisal institutions, and the average value includes the appraisal price of the day received and the appraisal price of the day received. do.

The reference quote generator 140 generates reference quote information 186 including a reference quote selected according to a predetermined priority among the substitute price 174 and the evaluation quote 184 for each item and date. In the exemplary embodiment, the priority may be in the order of the substitute closing price 174, the same day appraisal price, and the same day appraisal price appraisal price. That is, when a trading transaction is formed in the market, the substitute closing price 174 becomes a base price, and when the trading transaction is not formed in the market, the valuation quote 184 becomes a base price.

Substitute price calculation unit 150 updates the substitute information (188) by periodically calculating or occasionally calculating the substitute for each item using the substitute price information 188 including the substitute price, reference price information 186, and the item master 180 . The operation of the surrogate addition unit 150 will be described in more detail with reference to FIGS. 2 to 6 below.

The surrogate price reflecting unit 160 reflects the calculated surrogate price to the item master 180 and publishes it, and in the case of regular calculation, the substitute price is published on the calculation date.

FIG. 2 is a diagram schematically illustrating a system for regularly calculating surrogate prices as an example of the surrogate addition unit 150 of FIG. 1.

In an embodiment of the present invention, the substitute price is calculated and published regularly every week, and the day on which the substitute is regularly calculated is called a regular calculation date. The periodic calculation date is the last trading day of the week prior to the application date, which is generally Friday. The calculated substitute price shall be applied from the date of trading after the date of calculation to the day before the next date of application.

In order to use the previous substitute price information 188 when the substitute price is regularly calculated, the substitute price backup unit 210 stores the substitute price information 188 calculated for each regular calculation date in the substitute price backup 242.

The average base price quotation generation unit 220 for periodic calculation calculates the average base price for periodic calculation, which averages the base price after the day when the substitute price is randomly calculated from the trading day of the pre-defined period, retroactively from the regular calculation date. The price information 186 is updated. For example, if the regular price is calculated on a weekly basis and the average price is calculated on average for five trading days, then the regular price is calculated on Monday, November 14. Average price is calculated from Friday, 14th of November, and if there is an item that is calculated on Tuesday, November 11th, it will be calculated on a regular basis by the average price of Wednesday, November 12th to Friday, 14th of November. The average average price is calculated.

The substitute household calculation unit 230 calculates the substitute price by multiplying the average rate for the regular calculation for the listed items by the assessment rate for all listed items except for the items for which the substitute price is frequently calculated on the same day. The information 188 is updated.

FIG. 3 is a diagram schematically illustrating a system for occasionally calculating surrogate values for substandard substandard price items as an example of the surrogate addition unit 150 of FIG. 1.

Referring to FIG. 3, the substandard price quote item calculation output unit 310 receives the standard price information 186, the substitute price information 188, and the item master 180, and the reference price of the day is the substitute price for each item. If it is lower, the substitute price information 188 is updated by occasionally calculating the substitute price by multiplying the assessment rate by the base price of the day.

In one embodiment, in order to use only the standard price after the day when the substitute price is periodically calculated, the reference price information 186 includes a subtraction calculation value, and the substitute less than the standard price index price calculation unit 310 ), If the occasional price for a particular item is calculated at any time, the division value except for calculation is updated with respect to the previous standard price, and the average standard quote generation unit 220 for the periodic calculation of FIG. 2 excludes the calculation from the standard price information 186. Only the standard price that is not used is averaged to generate the standard price average for periodic calculation.

FIG. 4 is a diagram schematically illustrating a system for determining surrogate for items that are suspended or resumed as an example of the surrogate addition unit 150 of FIG. 1.

Referring to FIG. 4, the suspension of resumption information 422 includes information for suspending or resuming the effect of the surrogate due to the occurrence of market instability in a particular item, and the surrogate information 188 to process the surrogate. Contains the value of the suspension of resumption. The resumption resumption 410 receives the resumption resumption information 422 and updates the resumption resumption division value of the substitute information 188 for the resumption or resumption, and the revocation item The surrogate is set to 0 by setting the surrogate of the master 180 to 0. Although the effect is suspended for a specific item and the substitute price of the item master 180 is set to 0, the substitute price is normally calculated and updated in the substitute price information 188. When the effect is resumed for the item that has been suspended, the surrogate of the surrogate information 188 as of the resumption date is reflected in the surrogate of the event master 180.

FIG. 5 is a diagram schematically illustrating a system for temporarily calculating a substitute when a non-guaranteed switch of a guaranteed bond is performed as an embodiment of the substitute adding unit 150 of FIG. 1.

Referring to FIG. 5, the suspension of resumption information 422 includes information informing the non-guaranteed conversion of the guarantee bond, such as when a guarantee is incurred in the guarantee institution of the guarantee bond, and the substitute information 188 indicates the non-guaranteed conversion classification value. Included, the non-guaranteed conversion occasional calculation unit 510 guarantees for a particular item using the resumption of resumption information 422, the substitute information (188), the item master 180 and the reference quote information (186) When converting non-guaranteed bonds, the substitute price is periodically calculated for the item using the standard quote of the day, and the substitute price information 188 is updated.

In one embodiment, the reference price information 186 includes a non-calculated division value, so that the non-guaranteed conversion-time calculation unit 510 calculates a non-calculated division value with respect to the previous standard price when the substitute price is occasionally calculated for a specific item. 2, and the periodic average price quote generation unit 220 of FIG. 2 uses only the remaining standard quotes except for the standard quotes excluded from the calculation of the standard quote information 186 when generating the periodic average price quotes. . Therefore, the substitute household calculating unit 230 of FIG. 2 periodically calculates the substitute price using only the standard price after the non-guaranteed conversion for the non-guaranteed converted item.

FIG. 6 is a diagram schematically illustrating a system for temporarily calculating surrogate for an item having surrogate 0 as an embodiment of the surrogate adding unit 150 of FIG. 1.

Referring to FIG. 6, the surrogate addition unit 150 includes a zero surrogate event counting unit 610. Items with zero surrogate price include those with the same day as the listing date, the next day with the listing date, the suspension date, and the items without any of the closing price or the appraisal price of the appraiser until the last day after listing. Of these, the next day calculates the surrogate price for the zero-listed stocks, except for the newly listed stocks and the suspended stocks.

The zero substitute price item counting calculation unit 610 determines the price according to the priority having the order of the reference price and zero of the reference price information 186 when calculating the substitute price, and if the determined price is not 0, using the determined price. The substitute price is calculated, and if the determined price is 0, the substitute price is set to 0 to update the substitute information.

7 is a flow chart schematically illustrating the flow of a method for calculating and providing a substitute for a bond according to an embodiment of the present invention.

Referring to FIG. 7, in an embodiment of the present invention, a cumulative store 172 is received to generate a surrogate closing price 174 selected among closing prices of each of the plurality of markets according to a predefined priority (S710). Receiving the valuation prices of the valuation agencies, generating a valuation agency quotes file 178 including the valuation prices (S720), item master 180, the valuation agency quotes file 178 and date information (182) Generating a valuation quote including the valuation prices and the average value of the valuation prices (S730), the substitute price 174 and the reference quote selected according to a predefined priority among the valuation quotes. The reference price information 186 is generated (S740), a substitute price information 188 including a substitute price, the reference price information 186, and the item master are calculated using the substitute price information ( 188) Updating (S750) and reflecting the substitute information (188) to the substitute of the item master (S760), and the step S710 is not necessarily performed before the steps S720 and S730, but in parallel. May be performed as

FIG. 8 is a flowchart schematically illustrating a flow of a method of periodically calculating and periodically calculating surrogate as an embodiment of step S750 of FIG. 7.

The step S750 is to calculate the substitute price by using the reference price of the day for the item of the reference price of the day is lower than the substitute price (S810) to update the substitute information (188), including whether to resume the suspension of a specific item Update the suspension resumption division value of the substitute information (188) for the specific item by using the resumption of resumption information; and when the validity of the specific item is stopped, the substitute price of the item master (180) for the specific item is suspended. Setting the value of 0 and setting a substitute price of the item master 180 as a substitute price of the substitute price information 188 for the specific item upon resuming the validity of the specific item (S820); The specific using the suspended suspension resumption information 422, the substitute information (188), the item master (180) and the reference quote information (186), including whether or not the non-guaranteed transition When the non-guaranteed debenture of the guarantee bond is converted for the specific item, updating the substitute information (188) by calculating the substitute value using the standard price of the day (830), the substitute information (188), and the item master (180) and the stock price of the surrogate stocks, including stocks with the listing date is the same day, listing items with the next day listing, and stocks that did not have any of the closing price or the appraisal price of the appraisers until the last day after listing using the reference quote information (186) And calculating the surrogate information 188 to update the surrogate information 188. The steps S810 to S840 may not be performed in order, but may be performed in parallel or selectively.

In the step S840, the stock price of the stock price is the same day or the stock price of the stock price or the appraisal price of the appraisal company until the last day after the listing, and the quote price according to the priority in the order of the base price of the reference price information 186 and 0 If the determined quote is not 0, the substitute price is calculated using the determined quote, and if the determined quote is 0, the substitute price is set to 0 to update the substitute price information, and the substitute price of the item having the listing day is set to 0. Update the substitute information.

In addition, in the step S850, if the day is a regular calculation date, the proxy proceeds to the regular calculation step (S860 to S880), and if the day is not the regular calculation date, it ends.

The regular calculation of the substitute price includes storing the previous substitute information 188 in the substitute backup 242 (S810), and the substitute price during the trading date of the predetermined period retroactively from the regular calculation date using the standard quotation information 186. Updating the reference price information 186 by calculating the average standard price for the periodic calculation, averaging the standard price after the occasional calculation (S870) and the reference price information 186, the item master 180, By using the substitute price backup 242 and the substitute information (188), the substitute price is calculated using the average standard price for periodic calculations for all listed items except for items in which the substitute price is frequently calculated on the day and items with the next day of listing. Calculating and updating the substitute information 188 (S880).

The invention can also be embodied as computer readable code on a computer readable recording medium. Computer-readable recording media include all kinds of recording devices that store data that can be read by a computer system.

Examples of computer-readable recording media include ROM, RAM, CD-ROM, magnetic tape, floppy disk, optical data storage, and the like, and may also be implemented in the form of a carrier wave (for example, transmission over the Internet). Include. The computer readable recording medium can also be distributed over network coupled computer systems so that the computer readable code is stored and executed in a distributed fashion. In addition, functional programs, codes, and code segments for implementing the present invention can be easily inferred by programmers in the art to which the present invention belongs.

So far, the present invention has been described in detail with reference to the preferred embodiments shown in the drawings. These embodiments are merely illustrative and not intended to limit the present invention, and should be considered in descriptive sense only and not for purposes of limitation. Although specific terms have been used herein, they are used only for the purpose of illustrating the concepts of the present invention and are not intended to limit the scope of the present invention as defined in the claims or the claims. Therefore, those of ordinary skill in the art to which the present invention pertains should realize that the present invention may be embodied in various ways to implement the principles of the present invention without departing from the essential technical spirit of the present invention as claimed in the claims, although the present invention is not clearly described or illustrated herein. It will be appreciated that modifications may be made to the embodiments and other equivalent embodiments.

The true technical protection scope of the present invention should be defined by the technical spirit of the appended claims rather than the foregoing description, and all structural and functional equivalents within the scope will be construed as being included in the present invention. . Such equivalents should be understood to include not only equivalents now known, but also equivalents to be developed in the future, ie all components invented to perform the same function regardless of structure.

1 is a diagram schematically showing the configuration of a system for calculating and providing a substitute price for a bond according to an embodiment of the present invention.

FIG. 2 is a diagram schematically illustrating a system for regularly calculating surrogate as an example of the surrogate adder of FIG. 1.

FIG. 3 is a diagram schematically illustrating a system for occasionally calculating surrogate in consideration of a substandard surrogate standard price item as an example of the surrogate addition unit of FIG. 1.

FIG. 4 is a diagram schematically illustrating a system for determining a surrogate price for items that are suspended or resumed as an example of the surrogate adder of FIG. 1.

FIG. 5 is a diagram schematically illustrating a system for temporarily calculating a substitute when a non-guaranteed convertible bond is guaranteed as an embodiment of the substitute adding unit of FIG. 1.

FIG. 6 is a diagram schematically illustrating a system for temporarily calculating surrogate for an item having surrogate 0 as an embodiment of the surrogate adding unit of FIG. 1.

7 is a flow chart schematically illustrating the flow of a method for calculating and providing a substitute for a bond according to an embodiment of the present invention.

FIG. 8 is a flowchart schematically illustrating a flow of a method of periodically calculating and periodically calculating surrogate as an embodiment of step S750 of FIG. 7.

Claims (14)

Substitute closing price generation unit for receiving a cumulative store including a transaction history for a plurality of markets, to generate a substitute closing price selected from the closing prices of each of the plurality of markets according to a predefined priority; A quote file generation unit which receives the valuation prices of price valuation agencies and generates a valuation agency quote file including the valuation prices; A price master unit for generating an evaluation quote including an average value of the evaluation prices using the item master including the issue information and the substitute price for each item, the appraisal institution quote file and the date information; A reference quote generator for generating reference quote information including reference quotes selected according to a predetermined priority among the substitute price and the evaluation quote price; A substitute price calculation unit configured to update the substitute price information by calculating a substitute price using substitute price information including the substitute price, the reference price information, and the item master; And And a surrogate price reflecting unit for updating the surrogate price of the stock master using the surrogate price information. The method of claim 1, The reference price information includes the average price for periodic calculations. The substitute addition unit A substitute backup unit for storing the previous substitute information in the substitute backup on a predetermined periodic calculation date; The standard price information is updated by calculating the average standard price for periodic calculation, which is the average price of the standard price after the day when the substitute price is calculated at any time during the trading transaction date of the predefined period using the reference price information retroactively. Generating average reference quotes for periodic calculations; And For the regular calculation for all listed stocks except for the stocks for which the surrogate is occasionally calculated on the day and the stocks whose listing date is the next day, using the reference price information, the stock master, the surrogate price backup, and the surrogate price information on the periodic calculation date. A system for calculating and providing a substitute price for a bond, comprising: a substitute household price calculation unit for calculating a substitute price using an average reference price to update the substitute price information. The method of claim 1, wherein the surrogate addition unit Calculate and provide a substitute price for a bond, which includes a substandard price quote item output calculation unit that calculates the substitute price using the standard price of the day and updates the substitute price information for items with a base price lower than the substitute price. System. The method of claim 1, The substitute information includes the resumption of suspension. The surrogate addition unit updates the suspension of resumption of the surrogate information for the specific item by using the resumption of resumption information including whether the resumption of suspension of the specific item is resumed, and when the validity of the specific item stops, Regarding the bond price of the item master is set to 0, and when the resumption of validity of the particular item for the particular item including the suspension of resumption to set the price of the master price as the substitute of the substitute information A system for calculating and providing a surrogate for. The method of claim 1, The substitute information includes a non-guaranteed conversion segment value, The substitute value calculation unit uses the resumption of suspension of reinstatement information including whether the guarantee bond for a specific item is not guaranteed, the substitute price information, the item master, and the standard quote information, and the non-guaranteed conversion of the guarantee bond for the specific item. A system for calculating and providing a substitute price for a bond, comprising: a non-guaranteed conversion-time calculation unit that calculates a substitute price using a standard quote of the day of the stock and updates the substitute price information. The method of claim 1, wherein the surrogate addition unit By using the substitute price information, the item master and the standard quote information, the value of the surrogate price including the item that the listing date is the same day, the item the listing date is the next day, and the item that did not have any of the closing price or the appraisal price of the appraiser until the last day after listing A system for calculating and providing a substitute price for a bond comprising a zero substitute price item calculation unit for calculating a substitute price for the listed items and updating the substitute price information. The method of claim 6, wherein the zero surrogate event output unit The price is determined according to the priority of the reference price information and zero order of the reference price information for the item whose listing date is the same day, or the item which had neither the closing price nor the appraisal price of the appraiser until the last day after listing, and the determined quote is 0 Otherwise, the substitute price is calculated using the determined price, and if the determined price is 0, the substitute price is set to 0 to update the substitute information. A system for calculating and providing a surrogate price for a bond, wherein the surrogate price information is updated by setting a surrogate price of a stock whose listing date is the next day to zero. Receiving a cumulative store including a transaction history for a plurality of markets and generating a substitute closing price selected from the closing prices of each of the plurality of markets according to a predefined priority; Receiving valuation prices of price valuation agencies and generating a valuation agency quote file including the valuation prices; Generating an evaluation quote including an average value of the evaluation prices using the item master including the issue information and the substitute price for each item, the appraisal institution price file and the date information; Generating reference price information including a reference price selected according to a predefined priority among the substitute price value and the evaluation quote price; Updating the surrogate information by calculating surrogate price using surrogate price information including the surrogate price, the reference price information, and the item master; And Comprising the step of reflecting the information of the surrogate price in the stock price Master Method for calculating and providing a surrogate for the bond. The method of claim 8, The reference price information includes the average price for periodic calculations. The updating of the substitute information Storing the previous substitute information in a substitute backup at a predefined periodic calculation date; The standard price information is updated by calculating the average standard price for periodic calculation, which is the average price of the standard price after the day when the substitute price is calculated at any time during the trading transaction date of the predefined period using the reference price information retroactively. Doing; And For the regular calculation for all listed stocks except for the stocks for which the surrogate is occasionally calculated on the day and the stocks whose listing date is the next day, using the reference price information, the stock master, the surrogate price backup, and the surrogate price information on the periodic calculation date. Calculating a surrogate price for a bond, wherein the surrogate information is updated by calculating a surrogate price using an average reference price. The method of claim 8, wherein updating the substitute information A method of calculating and providing a substitute price for a bond, comprising: updating a substitute price information by calculating a substitute price using a base price of the day for an item having a base price lower than that price. The method of claim 8, The substitute information includes the resumption of suspension. The updating of the substitute price information may be performed by using the resumption of resumption information including resumption of resumption of a specific item, updating the resumption of suspension of the substitute information, and stopping the revocation of the specific item. And setting a substitute price of the item master to 0 for the specific item, and setting a substitute price of the item master to the substitute price information for the specific item when the effect of the particular item is resumed. A method of calculating and providing a substitute for a bond. The method of claim 8, The substitute information includes a non-guaranteed conversion segment value, The updating of the substitute information includes using the suspension of reinstatement information including the non-guaranteed transition of the guarantee bond for a specific item, the substitute information, the item master, and the reference quote information. When the non-guaranteed conversion, the method of calculating and providing a substitute price for the bond, characterized in that for calculating the substitute price using the standard quote of the day for the specific item by updating the substitute information. The method of claim 8, wherein updating the substitute information Listing of zero surrogate price, including stocks whose listing date is the same day, stocks whose listing date is the next day, and stocks that did not have any closing price or appraisal price until the last day after listing, using the substitute information, the stock master and the standard quote information. Calculating a surrogate price for a bond, and updating the surrogate price information. The method of claim 13, wherein the calculating of the substitute price for the listed item having the substitute value of 0 to update the substitute information For stocks whose listing date is the same day, or for items that did not have any of the closing price or the appraisal price of the appraiser until the last day after listing, the prices are determined according to the priority in the order of the base price and zero of the base price information. Otherwise, the substitute price is calculated using the determined price, and when the determined price is 0, the substitute price is set to 0 to update the substitute information. A method for calculating and providing a substitute price for a bond, characterized by updating the substitute price information by setting the substitute price of the item having the next listing day to zero.

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