KR100972578B1 - Method and apparatus for uniform-price bond auction with open outcry format and extendible rounding rule - Google Patents

Abstract

PURPOSE: A method and a device for auctioning uniform-price bond with bid open way and rules for extending tender round are provided to open all bid information of auction process and ease the time limitation of bidding participation, thereby enabling free and competitive bound bid. CONSTITUTION: A bidding information provider(240) transmits bidding present condition information to a bidder terminal and a publisher terminal. A bidding registration unit(260) registers the bidding information to a data storage unit(220). A bid range calculator(250) selects successful bid-predicted bids. A bid range calculator informs accepted bids to the publisher terminal and bidder terminals. A bidding round management unit(270) transmit information about bidder and dropout to the bidding registration unit.

Description

Method and apparatus for uniform-price bond auction with open outcry format and extendible rounding rule}

The present invention relates to an auction method and apparatus, and more particularly to a bond auction method and apparatus.

The issue of Treasury bonds and Tongan Securities is currently auctioned through the BOK Wire (bond tendering system) of the Bank of Korea. Sealed bidding is used for the purpose of suppressing the possession of collusion between bidders, but there is a problem that the incentive to promote competition in the auction process is not provided because the bidding information of other bidders is not known.

In order to promote competition, a bond bidding system that partially discloses bid price information has been introduced and used by Bond Web Co., Ltd. This technology uses a bidding information (bid bid price and bid quantity) of the top priority bid price when a certain time before the deadline ) Is disclosed to all bidders, and other bidders' bidding status is disclosed to bond issuers and bidders with the highest priority bids.

However, the Uniform-Price auction of bonds is determined by the bidding range being higher than the final bid price, not the highest bid price. Therefore, unlike the previous sealed bidding method, the auction technique through the bid price disclosure forms the entry barrier to the bidder's participation that the bidder with the information has no information and participates at a lower price than the bidder's own evaluation. Inhibiting bidding results in higher financing costs for issuers. For example, in the 100 billion bond bidding, the actual price distribution of bidders is 10 billion to 5.1%, 20 billion to 5.2%, 30 billion to 5.3%, 40 billion to 5.4%, 50 billion to 5.5%, and 150 billion in total. Let's say If the bidder bids at the highest price that bidders actually value, the company will bid 100 billion bonds at 5.4%. However, suppose that the highest priority bidder has a total demand of 50 billion won from 5.1% to 5.5% each. Highest priority bidders with bidding information from other competitors can bid only 5.1% and bid an additional 30 billion won for 5.49% to receive 40 billion won for 5.49%. As in the above-described example, the issuer pays a higher cost through the bidding method of providing differentiated quotation information. In addition, the highest priority favorably exposes bidders to use their bidding information as much as possible, and a sniping incentive is created to catch the price by closing low-cost bidding, resulting in uncertainty of the winning bid and sluggish bidding. Therefore, there is a need for an auction method and device that can solve the problem of impeding potential bidding.

SUMMARY OF THE INVENTION The problem to be solved by the present invention is that in performing auction auction online, there is a high possibility of unfair and inaccurate auction result due to the differential provision of quotation information and fixing the deadline in the prior art, and the potential bidders are removed from the auction market. It is to provide a fair and reasonable bond auction method and a bond auction device for performing the bond auction method by solving the structural problems that result from the decrease in sellers' income (increase in bond issuance costs).

In the bond auction method of the present invention for solving the above problems (a) the bond auction device that receives the bid information from a plurality of bidder terminals register the received bid information, calculate the successful bid range and update the bid status information Transmitting and displaying the plurality of bidder terminals; (b) when the current bidding round is over, the bond auction apparatus checks whether the last-order bid of the previous round and the last-order bid of the current round are the same; (c) If the last-priority bid of the previous round and the last-priority bid of the current round are not the same, the bond auction device extends the bid round and proceeds to step (a) for the extended bid round. performing step (a) again; And (d) if the last-priority bid of the previous round is the same as the last-priority bid of the current round, the bond auction apparatus determines the successful bids, and notifies the bond issuer terminal and the bidder terminals of the successful bidders of the successful bidding result. Steps.

In addition, in the step (a), the bond auction device may register the received bid information only when the bid information received from the bidder terminal is included in the successful bid range.

In addition, in the step (a), the bid status information includes at least one of bidder identification information, bid quote price information, bid quantity information, bid time information and bid rounds of all the bids registered so far, The information may be transmitted to all bidder terminals participating in the bidding of the current bidding round.

In addition, in the step (a), the bid status information includes at least one of bidder identification information, bid quote price information, bid quantity information, bid time information and bid rounds of the bid included in the bidding range, the bid status The information may be transmitted to all bidder terminals participating in the bidding of the current bidding round.

Further, in the step (c), the bond auction device selects a bidder who can bid in the next extended bid round among bidders who have registered a bid in the current bidding round, and in step (a), selects a bidder who can bid Only the bid information received from the bidder terminal of the bidders can be registered.

Further, in the step (c), bidders from the highest priority bid of the registered bids to a bid whose cumulative quantity is a predetermined multiple of the bond issuance quantity may be selected as bidders that can be bid in the next bid round.

In addition, in the step (c), the bond auction device can extend the bid round unlimitedly until the last bid of the previous round and the last bid of the current round is the same.

In addition, the bond auction device may limit the change of the bid information for the bid included in the successful bid range.

On the other hand, the bond auction apparatus of the present invention for solving the above problems, a bid registration unit for registering a bid in accordance with the bid information received from a plurality of bidder terminals; A successful bidding range calculation unit for calculating a final bidding range according to the bidding information, selecting a final priority bid, and determining the successful bids when the bidding deadline ends; A bid information providing unit generating bid status information according to the registered bid information and the successful bidding range and providing the bid status information to the plurality of bidder terminals; And a bidding round management unit extending the bidding round when the last-order bidding of the previous round and the last-order bidding of the current round are not the same.

In addition, the bid registration unit may register the bid information received only when the bid information received from the bidder terminal is included in the successful bid range.

The bidding status information may include at least one of bidder identification information, bidding quotation price information, bidding quantity information, bidding time information, and bidding rounds of all the registered bids, and the bidding information providing unit may include the bidding status information. It can be transmitted to all bidder terminals participating in the bid.

The bidding status information may include at least one of bidder identification information, bidding quotation information, bidding quantity information, bidding time information, and bidding rounds of bids included in a successful bidding range, and the bidding information providing unit may include the bidding status information. It can be sent to all bidder terminals participating in the bid.

The bidding round management unit may select bidders that can be bid in the next bidding round among bidders who have registered bids in the current bidding round, and the bidding register only bid information received from bidder terminals of bidders selected as bidders. You can register.

In addition, the bidding round management unit may select bidders from the highest bidding of the registered bids to bids whose cumulative quantity is a predetermined multiple of the bond issuance quantity as bidders that can bid in the next bidding round.

The bidding round management unit may extend the bidding round indefinitely until the last bidding of the previous round and the last bidding of the current round are the same.

In addition, the bid registration unit may limit the change of the bid information for the bid included in the successful bid range.

First, the bidding information of the final bidding range of the bidding range as a bid price information that operates as a competitive incentive in a Uniform Price-Multi Units auction having a common value to all bidders such as bonds It is updated in real time to provide to all bidders to participate in the bidding. Therefore, the bidder may bid using the last priority bidding information in order to receive a successful bid.

Second, by restricting the cancellation and change of the bid included in the current bidding range, it is possible to fundamentally prevent the occurrence of Shill bidding (Shill bidding).

Third, if the last prior winning bid of the winning range determined in the first round is not changed by the new bid in the second round and the auction is conducted in the second round or more, the auction ends and the next round is changed to the next round. Continue rounding until there is no change to the last bid. Therefore, bidding early is an advantageous strategy if the sniping bid incentive is imminent at a fixed deadline, blocked by the possibility of extending to the next round, and bids the same.

Fourth, the present invention introduced a method in which an auctioneer drops through a bidding competition at a higher bid price in an open auction such as an artwork in an online auction. Quotes that reflect competitors' willingness to bid are disclosed to promote competition and offer the opportunity to enter and compete at any time if there is a possibility of a successful bid. As a result, it provides auction results that both publisher and bidder can accept.

Hereinafter, preferred embodiments of the present invention will be described with reference to the accompanying drawings.

1 is a view showing the overall configuration of the entire bond auction system according to a preferred embodiment of the present invention. Referring to FIG. 1, the entire bond auction system includes a bond auction device 200, a manager terminal 100, a bond issuer terminal 300, and a plurality of bidder terminals 400.

The bond issuer terminal 300 (hereinafter, abbreviated as "issuer terminal") and the plurality of bidder terminals 400 are connected to the bond auction apparatus 200 through a wired / wireless communication network, and the manager terminal 100 is the bond auction apparatus 200. ) Or directly connected to the bond auction device 200 through an internal communication network or wired or wireless communication network.

The bidder terminal 400 accesses the bond auction device 200 through a wired or wireless communication network, transmits the bid information input by the bidder to the bond auction device 200, and various bid status information received from the bond auction device 200. Receive and output to the bidder.

In the present invention, the wired / wireless communication network is a concept including both a wired internet network, a wireless internet network, a mobile communication network, and the like. If the bond auction apparatus 200 and the bidder terminal 400 are capable of transmitting and receiving information, the bidder terminal is not limited. The electronic device 400 may be implemented as a desktop computer, a notebook computer, a PDA, a mobile communication terminal, and the like if the electronic device can access the bond auction device 200 through a wired or wireless communication network.

In addition, the bidding information transmitted from the bidder terminal 400 to the bond auction apparatus 200 may include bidder's authentication information, bid quote (return rate) information, bid quantity information, and the like.

In addition, the bidding status information transmitted from the bond auction apparatus 200 to the bidder terminal 400 may include identification information of each bidder, bid price, bid quantity, bid time, bid price, distribution of bid quantity, and current bidding range. It may include information about bid bid prices (returns), bid quantities, etc. of bids, last-order bidding, auction round rounds, and whether to extend auction round rounds.

The issuer terminal 300 is connected to the bond auction device 200 through a wired or wireless communication network, and issuance of bond issuance information (information related to bond issuance, such as bond type, issue amount, maturity date, issue quantity, issue schedule, issue conditions, etc.). And a bidding status information is received during the auction process, and after the auction ends, the final successful bidder information and the successful bidder information for each successful bidder are received.

Meanwhile, the bond auction apparatus 200 receives bond issuance information from the issuer terminal 300 and transmits bond issuance information to each bidder terminal 400, or each bidder terminal 400 can access and view the homepage. Post it on your back.

In addition, the bond auction device 200 calculates the bid price (return rate) and the quantity included in the successful bid range according to the bid information received from the bidder terminal 400 during the auction process, the last priority bid of the successful bid range (hereinafter, Selects a "lowest priority bidding") and generates real-time bidding status including a bid price distribution and a quantity distribution up to all bidders or final bidders participating in the current bidding, and the bidder terminal 400 and the issuer terminal ( 300).

In addition, the bond auction device 200 restricts the bid included in the successful bid range in principle can not be cancelled. The bond auction device 200 sorts the bids at the end of the first round bid in the order of the bid and the bidding time, and selects bidders who can participate in the second round bidding among the bidders who participated in the first round bidding according to a predetermined criterion and executes the second round bidding. If the first-order bidding of the first round bid is the same as the last-order bidding of the second round bid, the auction is terminated to determine the successful bids. However, if the last-order bidding of the second round bid is different from the last-order bidding of the first round bid, the third round bidder is selected by selecting bidders who can participate in the third round bidding. In this way, the bid round is infinitely extended until the last bid of the current bid round and the previous bid round is the same, and each time the bid round is extended, bidders are selected from the current bidders who can participate in the extended bid round. The number of bidders who can participate in the bid will be reduced.

Accordingly, each bidder terminal 400 registers with the auction device 200 a competitive bid that can enter a predetermined bid order to obtain an opportunity to bid through the round of each round until the next round.

The method of selecting an extended bidder can be variously applied. As a simple example, a bidder who registers a bid whose cumulative quantity of registered bids is within a certain multiple of the issued quantity may be given a bidding opportunity for the next round, based on the amount of the issued bonds (bond issuance amount) attached to the auction. . For example, if the bond issuance amount is 100 billion won, the bidder who registers the bid up to 400 billion won, which is 4 times the accumulated quantity of bids registered in the first round, gives an opportunity to bid in the second round of the bidding. The bidders who registered bids up to 300 billion won, which is three times the issued quantity, are given the opportunity to bid in the third round of bidding. In the next round, the cumulative bid quantity is twice the issued quantity. Bidders registered for up to 100 million won are given a chance of bidding for the next round.

The bond auction apparatus 200 is configured in advance in order of low bid price (lowest yield), bid time order, bid quantity order, etc., if the last bid in the previous round is not changed by a new bid application until the end of the current round. Determine the successful bidder and the successful bid quantity according to the defined rule, and transmit the successful bidder information (successful bidder, successful bidder, successful bidder quantity of each successful bidder, etc.) to the issuer terminal 300, and the successful bidder information of each successful bidder to the bidder terminal 400 of the successful bidder. (Successful bid price, successful bid quantity, payment method, etc.).

In the preferred embodiment of the present invention, the bids are ordered every time a bid is registered according to predefined rules such as low bid order (lowest return order), bid time order, bid quantity order, and so on. Higher bids win at the bid (return) suggested by the last bid.

2 is a block diagram functionally expressing the configuration of the bond auction device 200 according to a preferred embodiment of the present invention. Referring to FIG. 2, the bond auction device 200 according to the preferred embodiment of the communication unit 210, the data storage unit 220, the authentication unit 230, the bid information providing unit 240, and the successful bid range calculation unit 250 ), A bid registration unit 260, a control unit 280, and a bid round management unit 270.

In the present invention, the authentication unit 230, bid information providing unit 240, successful bid calculation range calculation unit 250, bid registration unit 260, the control unit 280 and the bid round management unit 270 may be implemented in software. have. Hereinafter, the function of each configuration will be described.

The communication unit 210 communicates with the issuer terminal 300, the manager terminal 100, and the plurality of bidder terminals 400 through a wired or wireless communication network to receive bond issuance information from the issuer terminal 300, and the bidder The bid information is received from the terminals 400, and the bid status information and the successful bid information generated in the bond auction apparatus 200 are transmitted to the issuer terminal 300 and the bidder terminal 400.

The data storage unit 220 uses the bond auction apparatus 200 of the present invention to obtain authentication information of a member company that issues a bond and a member company participating in a bid (a concept including all public institutions, securities companies, asset managers, etc.). Save it. In addition, the data storage unit 220 stores the bond issuance information received from the issuer terminal 300 and the bid information received from the bidder terminal 400 of each member company. In addition, the bid status information that is updated in real time may be stored.

The authenticator 230 receives authentication information from the issuer terminal 300 and the bidder terminal 400 from the member issuer of the bond issuer and the member from the bidder auction bidder and performs authentication according to the authentication information stored in the data storage 220. . In particular, when the authentication of the member companies participating in the bid is completed, the authentication unit 230 may assign an arbitrary identifier to the member company, this identifier is used as an identifier indicating anonymously the bidder included in the bid status information to be described later do.

The bidding information provider 240 generates bidding status information and transmits the bidding status information to each bidder terminal 400 and the issuer terminal 300 for display. The bid status information is based on the manager's setting, and the bidder who registered the bid for all bids which have a higher priority than the currently registered bid or the last bid, bid price, bid quantity, bid time, bidding range, bid of the bid, Round numbers and the like.

4 and 5 illustrate examples of bid status information provided to the bidder terminal 400. First, referring to FIG. 4, the bid information providing unit 240 corresponds to a time and a bid price bidd by each bidder on a graph in which the X axis is set as an auction progress time and the Y axis is set as a bid price (ie, a yield). The unique identifier of each bidder or any identifier assigned by the authenticator 230 may be displayed, and the quantity distribution for each quotation may be displayed in a bar graph as shown in the right side of FIG. 4.

In addition, as shown in FIG. 5, the bidder table including the bid quotation (return rate), the bid time, the bid quantity, the bid number, the bidder classification, and the bidder identifier may be classified in the order of successful bid or the latest bid, and the publisher terminal ( 300 and the bidder terminals 400.

In FIG. 4 and FIG. 5, the bidding status of all bidders outside the bidding range as well as the bidding within the bidding range are displayed, but the bidding status may be displayed only for the biddings included in the bidding range.

The bid registration unit 260 examines the bidding information received from the bidder terminal 400 and registers the bidding information in the data storage unit 220 when the bid is suitable, and when the bid is inappropriate, the bid is not approved because the bid is inappropriate. Notify the bidder terminal 400.

When the bid is not suitable, it is a case of violating a predefined rule. For example, in the preferred embodiment of the present invention, the bidder of the bidder who is not selected as the bidder of the current bidding round in the previous bidding round is defined as inappropriate, and the bid price of the new bidding is outside the successful bidding range (same as the last bidding bidding). Or bidding with a higher rate of return than the last-ranked bid). In addition, bids that deviate from the basic bid unit quantity (for example, in the case of 15 billion bids when the basic unit is 10 billion won) are determined as inappropriate bids and notified of the impossibility.

In addition, the present invention can not cancel bids and bid changes to high bid prices (i.e., high yields) for bids registered within the winning bid range (bids corresponding to higher ranks than last-ranked bids and last-ranked bids). The registration unit 260 may automatically cancel the bid that is pushed out of the successful bid range by the new bid registration.

Meanwhile, the bidding range calculation unit 250 analyzes the bidding price and quantity of each currently registered bid and selects the bidding bidding bids so far to calculate the bidding range (success bidding price (return), bidding quantity and bidding bidders) And, when the bid deadline is finished, the successful bids are determined to notify the issuer terminal 300 and the bidder terminal 400.

The bidding range calculation unit 250 basically determines the bids that are won by the single bid price (return) bidding method in the order of the lowest bid price (return) and the quickest bid time, and allocates bid quantities if the bid time is the same. Or bids with a large quantity can be selected as successful bids.

Referring to [Table 1] of FIG. 5, first, the bidding range calculation unit 250 sorts the bids in low bid order (low yield order) as shown in [Table 1] of FIG. The bid price is 5.52%, which is the bid price for which the quantity and the bid cumulative quantity coincide for the first time, as the bid price, and the bid that offers the bid price (return rate) lower than the bid price is selected as the bid price. In addition, among bids b00019, b00026, b00031, b00034, b00036, and b00038 which present bid bid prices equal to the bid price (5.52%), b00019, b00026, b00031, and b00034 are selected as bid scheduled bids. .

Therefore, the bid number b00022 becomes the first-order bid, the bid number b00034 becomes the last-order bid, and the bid numbers b00022 to the bid number b00034 are the successful bid ranges in [Table 1].

If the bid deadline has elapsed in the bidding situation as shown in [Table 1] of FIG. 5, the bidding range calculation unit 250 determines the successful bid price to 5.52% and the bid price that presents 5.47% as the bid price to 5.52%. To the bidder b00034 who presented the bid as the bidding price, the bid price of 5.52% of the bid price suggested by the last-order bidding (b00034) will receive the bid as much as the bidding quantity.

On the other hand, the bid round management unit 270 compares the last bid of the last bid round and the last bid of the current round, and if a new bid is added in the current round and the last bid of the previous round is changed, the bid round is extended. Then, the bidders who can participate in the next round are selected, and information about the bidders and the dropouts is generated and transmitted to the bid register 260.

Referring to [Table 1] of FIG. 5, b00023 bidding at 5.54% in the first round conducted from 10:00 to 10:18 minutes becomes the final bid. At 10: 18-10: 20, when only bidders in the first round participate, new bids with a bid of less than 5.53% were added in the second round, and the final bid for the first round, b00023, would be out of the winning bid range. In the second round, b00034 bid by A03 becomes the final bid.

Since the first-ranked bids of the first round of bidding and the second round of bidding are different from each other, the bid round management unit 270 extends the bid round in order to give a new bidding opportunity to the bidders who were pushed out of the bidding range in the second round. The bidders who can participate in the bidding in the third round of bidding are selected according to a predetermined rule, and the third round of bidding is conducted for a predetermined time (18 minutes for the first round and 2 minutes after the second round in the preferred embodiment of the present invention). Thereafter, the bid is closed and the winning bids are selected unless a new bid is added that changes the last bid (b00034) of the previous round in the extended round.

The controller 280 controls the functions of the above-described components as a whole, and transmits the bond issuance information received from the issuer terminal 300 to each bidder terminal 400 or the homepage operated by the bond auction apparatus 200. Post to.

3 is a flowchart illustrating a bond auction method according to a preferred embodiment of the present invention. Referring to Figure 3 will be described a bond auction method according to a preferred embodiment of the present invention. First, the issuer who wants to issue a bond connects to the bond auction device 200 using the issuer terminal 300, transmits authentication information such as his ID and password to the bond auction device 200, and bond auction device. 200 authenticates the issuer using the authentication information received from the issuer terminal 300 (S301).

When the issuer is authenticated, the bond auction device 200 receives and registers bond issuance information from the issuer (S303), posts the bond issuance information on the homepage operated by the bond auction device 200, or uses the service of the present invention. The bond auction announcement is performed in such a manner as to transmit bond issuance information to the bidder terminal 400 of the investors (S305).

Meanwhile, investors who wish to participate in bond auctions (hereinafter referred to as "bidders") access their bond auction apparatus 200 by using their bidder terminals 400 during the bond auction date or the bond auction period. Authentication information such as an ID and password is transmitted to the bond auction device 200, and the bond auction device 200 receives the received auction bidder (S310). At this time, a random identifier may be assigned to each bidder, and the randomly assigned identifier indicates each bidder in the bid status information transmitted to each bidder terminal 400 in step S343.

If the bidder is authenticated, the bond auction device 200 receives the bidding information from the bidder terminal 400 (S320).

Receiving the bidding information, the bond auction apparatus 200 determines whether the bidder applying for bid registration is a bidder who can bid in the current round, and whether the bidding information is suitable for a preset rule (suitability of quotation unit, fitness of quantity unit, etc.). ) And, if appropriate, investigates the bid price included in the bid information to determine whether the new bid is a bid that can be entered within a successful bid range (S330).

If the current round is the first round of bidding in which anyone can participate in the auction, all bidders will be bidders in the current round, and if the current bidding round is more than two rounds of bidding, the bidder will be able to bid in the current round from the previous round. Only bidders are allowed to bid.

In addition, in a preferred embodiment of the present invention, once a bid is submitted, it cannot be canceled in principle when the bid is included in a bid scheduled range, and in the case of a new bid, only a bid included in the bidding range is possible.

If the auction is currently in progress as shown in Table 1 of FIG. 5, only bids showing a yield (quotation) of 5.51% or less are allowed, and bids showing a yield of 5.52% or more are not allowed. In particular, even when the new bid is a bid price of 5.52%, which is the current bid estimate, the bid is not allowed because it is only a bid outside the scheduled bidding range in time order.

As a result of the investigation in step S330, when the bidder cannot bid, or the new bid is an inappropriate bid or a bid that cannot enter the bidding range, the bid is disapproved and the bidder terminal 400 is notified. (S335).

On the other hand, if the new bid is suitable and can enter the bidding range, the new bid is registered (S341), and update the bid status information as shown in Figures 4 and 5 to reflect the new bid, and real-time The bidding status information is transmitted to the bidder terminals 400 and the issuer terminal 300 (S343). In this case, the bidding status information is basically provided to the publisher terminal 300 and the bidder terminals 400 participating in the current bidding, and may be provided to the bidders who have dropped out in each bidding round. In addition, as described above, the bidding status information may include information on all bids, or may include only information on bids included in the successful bid range.

On the other hand, the bond auction device 200 checks whether the current bidding round is ended over time (S351), and if the current round is over, whether the last round bid of the previous round and the last round bid of the current round are the same. Check whether or not (S353).

If the last-priority bid of the previous round and the last-priority bid of the current round are not the same, as described above, the bidder terminal of the bidders selected by extending the bidding round and selecting bidders who can bid in the next round according to a predetermined criterion Notify and proceed to step S320 to receive the bid information for the next round to proceed to the next bid round (S360). As described above, the bidding bidder may be selected as the bidders who bid the bids whose cumulative bid quantities of bids registered based on the bid quantity are included in a predetermined multiple of the issued quantity, as described above. Based on the number of bidders, bidders included in the predetermined number may be selected according to the bid order in each round.

On the other hand, as a result of the investigation in step S353, if the last-priority bid of the previous round is the same as the last-priority bid of the current round, the bond auction apparatus 200 determines the successful bid price and the successful bids (S371). The method of selecting the successful bidder and the successful bidder is determined in the order of the bid and the bid, and the detailed description thereof will be omitted.

Thereafter, the bond auction apparatus 200 transmits the successful bidder information regarding the successful bidder, the successful bidder, and the successful bidder of each successful bidder to the issuer terminal 300 (S373).

In addition, the bond auction device 200 transmits the successful bid price, successful bid quantity, and payment guidance to the successful bidder terminal of each successful bidder (S375).

The invention can also be embodied as computer readable code on a computer readable recording medium. The computer-readable recording medium includes all kinds of recording devices in which data that can be read by a computer system is stored. Examples of computer-readable recording media include ROM, RAM, CD-ROM, magnetic tape, floppy disk, optical data storage, and the like, which are also implemented in the form of a carrier wave (for example, transmission over the Internet). It also includes. 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.

So far I looked at the center of the preferred embodiment for the present invention. Those skilled in the art will appreciate that the present invention can be implemented in a modified form without departing from the essential features of the present invention. Therefore, the disclosed embodiments should be considered in descriptive sense only and not for purposes of limitation. The scope of the present invention is shown in the claims rather than the foregoing description, and all differences within the scope will be construed as being included in the present invention.

1 is a view showing the overall configuration of the entire bond auction system according to a preferred embodiment of the present invention.

2 is a block diagram functionally representing the configuration of a bond auction apparatus according to a preferred embodiment of the present invention.

3 is a flowchart illustrating a bond auction method according to a preferred embodiment of the present invention.

4 and 5 illustrate examples of bid status information provided to bidder terminals and issuer terminals.

Claims (16)

(a) receiving, by the bond auction device, bid information input from a plurality of bidder terminals; (b) the bond auction device checks whether the bidder can bid in the current bid round and whether the bid price or bid amount is within the bidding range, and if it is inappropriate, disapproves the bid and notifies the bidder terminal. ; (c) If the bidding information is suitable, all bidders who generate bidding status information and register and store in the bond auction device, change of the appropriate bidding information is restricted, and bidding information is available for bidding in the current bidding round. Transmitting to a terminal; (d) when the current bidding round ends, checking, by the bond auction device, whether the last-ranked bid of the previous round and the last-ranked bid of the current round are the same; (e) If the last priority bidding is not the same, the bond auction device extends the next bidding round and bids the bidders from the highest priority bidding of the registered bidding information to a bid that is a predetermined multiple of the auction quantity. Selecting and storing a bidder that can bid in the step; and proceeding to step (a) for the next round of bidding, which is performed again from the step (a); And (f) if the last priority bidding is the same, the bond auction system comprising the step of determining the successful bid, and informing bidder information to the bidder terminals of the bond issuer terminal and the successful bidder; A method of auctioning single-valued bonds with an extended bid round rule. delete The method of claim 1, wherein in the step (c), the bidding status information includes at least one of bidder identification information, bid quotation price information, bid quantity information, bidding time information, and round of bidding of all bids registered to date. The bidding status information is a single-price bond auction method having a bidding open method and the bidding round extension rule characterized in that it is transmitted to all bidder terminals participating in the bidding of the current bidding round. The method of claim 1, wherein in the step (c), the bidding status information includes at least one of bidder identification information, bid quotation price information, bid quantity information, bidding time information, and bidding rounds of bids included in a successful bid range. The bidding status information is a single-price bond auction method having a bidding open method and the bidding round extension rule characterized in that it is transmitted to all bidder terminals participating in the bidding of the current bidding round. delete delete The method of claim 1, wherein in the step (e), the bond auction apparatus extends the bid round indefinitely until the last bid of the previous round and the last bid of the current round become the same. And single-valued bond auction method with bidding extension rules. delete Check bid information inputted from a plurality of bidder terminals to check whether the bidder can bid in the current bid round and whether the bid price or bid amount is within the bidding range. A bid registration unit which notifies the terminal and generates and stores bid status information in case of suitable bid information, and restricts the change of the appropriate bid information; A bidding range calculation unit that calculates the bidding price and the quantity included in the bidding range according to the registered bidding information, selects the last priority bidding of the bidding range, and determines the bids that are won when the bid deadline is expired; A bidding information providing unit generating bidding status information according to the registered bidding information and the successful bidding range and providing the bidding information to all bidder terminals that can bid in the current bidding round; And If the last-priority bid of the previous round and the last-priority bid of the current round are not the same, the bidding round is extended, and bidders from the highest priority bidding of the registered bid information to a bid that is a predetermined multiple of the auction quantity are bidded next. Single price bond auction apparatus having a bidding open method and bid round extension rule characterized in that it comprises a bidding round management unit to be selected as a bidder in the bid to transmit to the bidding register. delete 10. The method of claim 9, wherein the bidding status information includes at least one of bidder identification information, bid price information, bid quantity information, bid time information, and bid rounds of all registered bids, and the bid information providing unit is Single price bond auction apparatus having a bid-opening method and a bid round extension rule characterized in that the bidding status information is transmitted to all bidder terminals participating in the bidding. 10. The method of claim 9, wherein the bidding status information includes at least one of bidder identification information, bid price information, bid quantity information, bid time information, and bid rounds of bids included in a successful bid range, and the bid information providing unit is Single price bond auction apparatus having a bid-opening method and a bid round extension rule characterized in that the bidding status information is transmitted to all bidder terminals participating in the bidding. delete delete 10. The method of claim 9, wherein the bidding round management unit has a bidding open method and a bidding round extension rule, which extends the bidding round indefinitely until the last bidding of the previous round and the last bidding of the current round are the same. Single Price Bond Auction Device. delete

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