KR102510332B1 - System and method for ordering to manage fund - Google Patents

Abstract

Disclosed are a system for order processing for an aggregate asset and a method thereof. In particular, the system for order processing for an aggregate asset according to one aspect of the present invention comprises: an interface module which is provided to receive a trading request signal from the terminal of a content provider to manage the creation unit (CU) set by the content provider, wherein the trading request signal is a request signal to sell at least one portion of a financial product included in the CU or a request signal to incorporate a new financial product in the CU; a control module which is provided to generate an aggregate order to change the entire CU corresponding to the CU included in an aggregate asset in response to the trading request signal received from the interface module; and an order module which is provided to execute the aggregate order generated by the control module with respect to at least one order receiving system. The interface module receives the trading request signal which comprises the amount and the time range of the financial product to be traded but does not comprise the trading price thereof. The control module is characterized by generating the aggregate order including a plurality of unit orders which are to be outputted for each predetermined time section within the time range such that the trading result for the amount may be reflected in each of the entire CU included in the aggregate asset in response to the trading request signal. Therefore, the exposure of investment strategies may be minimized.

Description

Order processing method and system for collective assets {System and method for ordering to manage fund}

The present invention relates to an order processing method and system for collective assets. More specifically, in the case of managing the collective asset so that trading of the collective asset can occur only in units of CU (Creation Unit), which is the underlying asset set by the operator (contents provider) of the collective asset, the operator places an order to change the CU It relates to a method and system capable of processing it.

Various financial instruments for investment are known.

Stocks are traditional investments in the financial market. However, considering the risks of direct investment by investors, financial products operated by professional investment asset managers are also widely known. For example, mutual funds, ETFs (Exchange Traded Funds), or discretionary investment products are such examples.

However, in the case of discretionary investment products, the portfolio of investment assets is disclosed in real time.

In the case of ETF, a fund that tracks a predetermined index is liquidated in the stock market, and an LP (Liquidity Provider) for liquidation is essential and since it tracks an index, the operator does not have to actively generate excess returns. Therefore, it is impossible for a specific person, that is, an asset manager's investment strategy to be used by others to generate excess returns.

In the case of a mutual fund, it is a product in which the asset manager (fund manager) fully manages the investors' assets and attributes the results to the investors. You only need to disclose months ago). However, compared to the stock market, real-time performance is significantly lower, and since asset managers do not invest their own assets, there is a problem in that accountability is low.

On the other hand, there is a known method of investing by imitating the investment strategy of others. An example of this has been disclosed in Korean Registered Patent (10-04014470, "Online stock trading system having an automatic ordering function linked to a leader investor"). However, this prior art also has a problem in that the investment strategy of the leader investor is exposed to others as it is.

Therefore, asset managers may not expose their own investment strategies in real time while using other people's investment strategies, and investors may need a method to increase real-time trading.

For this technical idea, the inventor of the present invention has invented and disclosed a Korean registered patent (10-1876623, "Collective asset management system and method", hereinafter referred to as 'pre-registered patent').

The above-registered patent provides a technical idea that allows others to utilize the content provider's investment strategy as it is while maintaining the characteristics of collective assets, real-time transaction and transparency, and transparent investment performance.

In order to stably operate the collective assets disclosed in these pre-registered patents, the pre-registered patents provide a technical idea that can change (rebalance) the CU only during a single price time period. There are relatively limited problems.

Therefore, an order processing method differentiated from the existing order processing method is required in order to be able to fairly and stably change collective assets outside of single price time zones.

Korean Registered Patent (10-04014470, "Online stock trading system with automatic order function linked to leader investor") Korean registered patent (10-1876623, "Collective asset management system and its method")

The present invention allows content consumers (investors) to make investments using the investment strategies of content providers (asset operators), but orders suitable for the management of collective assets in a way that allows the investor's investment assets to be managed as collective assets. It is to provide a system and method capable of performing the processing.

In particular, when a content provider performs management activities for its own CU, that is, a portfolio, it is possible to achieve the same and transparent trading results according to the management activities in the portfolios of a plurality of content consumers who follow the portfolio of the content provider. It is to provide a system and method that can reduce the exposure of as much as possible.

According to one aspect of the present invention, an order processing system and method for collective assets are disclosed.
The order processing system for the collective asset is a trading request signal for management of a CU (Creation Unit) set by the content provider from a terminal of the content provider - the trading request signal sells at least a part of the financial product included in the CU An interface module for receiving a request signal for incorporating a new financial product into the CU or a request signal for incorporating a new financial product into the CU, corresponding to the CU included in the collective asset in response to the trading request signal received from the interface module A control module for generating a collective order for changing all CUs, and an ordering module for executing the collective order generated by the control module for at least one order receiving system, wherein the interface module is The quantity of the financial instrument to be traded and the time range in which trading is to be made are included but the trading price is not included, and the control module receives the trading request signal in response to the trading request signal to each of the total CUs included in the collective asset. It is characterized in that the collective order including a plurality of unit orders to be output for each time section in which the time range is divided within the time range is generated so that trading results corresponding to the quantity are reflected.
In addition, the order processing method for collective assets is a trading request signal for management of a CU (Creation Unit) set by the content provider from the terminal of the content provider - the trading request signal sells at least a part of the financial product included in the CU Receiving a request signal for incorporating a new financial product into the CU or a request signal for incorporating a new financial product into the CU, the CU included in the collective asset in response to the transaction request signal received by the order processing system for the collective asset Generating a collective order for changing the entire CU corresponding to , and executing the collective order for at least one order receiving system by an order processing system for the collective asset, and sending the trading request signal The receiving step includes receiving the trading request signal including the quantity of the financial instrument to be traded and the time range for trading, but not including the trading price, and the generating of the collective order is a response to the trading request signal. to generate the collective order including a plurality of unit orders to be output for each time interval in which the time range is divided so that the trading result of the quantity is reflected in each of the entire CUs included in the collective asset, It is characterized by specifying an order receiving system to output an order for each order.

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The above method may be implemented by a computer program installed in the data processing device.

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According to the technical concept of the present invention, the investment strategy of the content provider (asset manager) allows the content consumer (investor) to make an investment using the investment strategy of the content provider (asset manager), but the investor's investment assets are operated as collective assets. There is an effect that may not be exposed to the outside in real time.

In addition, while allowing content consumers to trade only in units of CU, which is the underlying asset set by the content provider, when the content provider performs management activities for CU, trading for these management activities can be distributed over a certain time range, thereby enabling the management There is an effect of allowing the action to be effectively performed on the CU of the content consumer.

In addition, while distributing and processing orders for management activities within a certain time range, the order receiving system for each order can be changed by time interval, so that the investment strategy of the content provider can not be exposed to the outside.

In order to more fully understand the drawings cited in the detailed description of the present invention, a brief description of each drawing is provided.
1 is a diagram showing a schematic configuration for implementing an order processing method for collective assets according to an embodiment of the present invention.
2 is a diagram for schematically explaining the concept of order distribution used in the order processing method for collective assets according to an embodiment of the present invention.
3 is a diagram schematically illustrating the configuration of an order processing system for collective assets according to an embodiment of the present invention.
4 to 6 are diagrams showing specific examples of an order processing method for collective assets according to an embodiment of the present invention.

Since the present invention can apply various transformations and have various embodiments, specific embodiments will be illustrated in the drawings and described in detail in the detailed description. However, it should be understood that this is not intended to limit the present invention to specific embodiments, and includes all transformations, equivalents, and substitutes included in the spirit and scope of the present invention. In describing the present invention, if it is determined that a detailed description of related known technologies may obscure the gist of the present invention, the detailed description will be omitted.

Terms such as first and second may be used to describe various components, but the components should not be limited by the terms. These terms are only used for the purpose of distinguishing one component from another.

Terms used in this application are only used to describe specific embodiments, and are not intended to limit the present invention. Singular expressions include plural expressions unless the context clearly dictates otherwise.

In this specification, terms such as "include" or "have" are intended to designate that there is a feature, number, step, operation, component, part, or combination thereof described in the specification, but one or more other It should be understood that the presence or addition of features, numbers, steps, operations, components, parts, or combinations thereof is not precluded.

In addition, in the present specification, when one component 'transmits' data to another component, the component may directly transmit the data to the other component, or through at least one other component. It means that the data can be transmitted to the other component. Conversely, when one component 'directly transmits' data to another component, it means that the data is transmitted from the component to the other component without going through the other component.

Hereinafter, the present invention will be described in detail with reference to the accompanying drawings, focusing on embodiments of the present invention. Like reference numerals in each figure indicate like elements.

1 is a diagram showing a schematic configuration for implementing an order processing method for collective assets according to an embodiment of the present invention. 2 is a diagram schematically illustrating the concept of order distribution used in the order processing method for collective assets according to an embodiment of the present invention.

Referring to FIG. 1 , in order to implement the technical concept of the present invention, an order processing system (hereinafter, 'order processing system' 100) for collective assets may be implemented.

The order processing system may be included in a collective asset management system disclosed in a prior registered patent applied for and registered by the inventor of the present invention, that is, a Korean registered patent (10-1876623, "Collective asset management system and method"). Alternatively, in addition to the functions defined in this specification, the functions of the collective asset management system included in the prior registered patent may be further performed as needed.

In this specification, the prior registration patent is included as a reference, and the technical idea disclosed in the prior registration patent can be treated as described in this specification.

According to an embodiment, collective assets in this specification may refer to collective assets operated according to the technical idea disclosed in a prior registered patent. However, the technical spirit of the present invention is not necessarily limited to the collective assets disclosed in the prior registered patent, and any assets to which the technical spirit of the present invention can be applied may be included in the collective assets disclosed in this specification.

According to the technical concept of the present invention, the order processing system 100 may refer to a system for enabling content consumers to adopt an investment strategy of a content provider and managing assets by forming collective assets. To this end, the order processing system 100 may perform a function of processing a trading order for a change of one CU (Credation Unit) included in the collective asset, that is, a portfolio.

In the processing of trading orders performed by the order processing system 100, when a manager of a specific CU, that is, a content provider who sets the CU, requests trading of financial products included in the CU, the request is included in the collective asset It may include a process of generating a collective order and transmitting it to the order receiving system 500 so that it can be effectively reflected in the entire corresponding CU.

How to generate such a collective order and how to transmit it to the order receiving system 500 will be described in detail later.

The order processing system 100 may implement the technical idea of the present invention while communicating with the terminal 200 of the content provider and/or the terminal 300 of the content consumer. In addition, the order processing system 100 may implement the technical concept of the present invention while communicating with at least one order receiving system 500 and / or operating account system 400 .

The content provider may mean a person who manages collective assets according to the technical concept of the present invention. A content provider may set a CU (Creation Unit), which is an underlying asset of the collective asset, and the collective asset may be composed of a set of n CUs. A content provider must set at least one CU and may purchase more CUs according to his or her own judgment.

However, according to the technical concept of the present invention, the collective asset management system 100 may perform predetermined control so that even the content provider can buy/sell assets only in CU units. In addition, the content provider may be required to maintain one CU until the collective asset is liquidated.

The content consumer may refer to an asset identical to the CU set by the content provider, that is, a person who invests in collective assets in units of CU. That is, a content consumer may be a person who intends to make an investment using the content provider's investment strategy as it is. The collective asset management system and the order processing system 100 according to the technical idea of the present invention can be implemented so that the content consumer can trade only in CU units set by the content provider.

In the management of collective assets according to the technical idea of the present invention, when a content consumer wants to purchase a collective asset, the same asset as the CU can be set, the asset required for setting the CU can be purchased, and then stored in the collective asset. . A content consumer may purchase only one CU or a plurality of CUs. In any case, according to the technical idea of the present invention, buying/selling of content consumers can be implemented in units of CUs. For example, in order to purchase in units of CU, the content consumer's terminal 300 may transmit a purchase request signal for 1 CU or a plurality of CUs to the order processing system 100 .

Then, the collective asset management system 100 may output a purchase signal to the order receiving system 500 to purchase stocks included in the number of CUs corresponding to the purchase request signal. In addition, the CU may be set to include predetermined cash. In this case, the collective asset management system 100 may set the stocks and cash included in the CU as one financial unit and deposit the CU in the collective asset.

A detailed description of the operation of such collective assets and the ordering of CU units is disclosed in the prior registered patent, so detailed descriptions will be omitted in this specification.

On the other hand, in the prior registration patent, a content provider discloses a technical idea that allows rebalancing of CUs only in a single price time zone in order to update, ie, rebalance, the CUs set by the content provider.

However, unlike the method of the prior registration patent, in this specification, a single content provider provides a technical idea that allows the content provider to update the CU set by the content provider even if it is not a time zone, and in this case, the CU set by the content provider and included in the collective asset A technical idea that allows the update of the entire corresponding CU to be effectively performed is disclosed.

An example of this will be described with reference to FIG. 2 .

According to the technical concept of the present invention, a plurality of content providers participating in a platform for managing collective assets may set their own CUs (also referred to as portfolios). For example, as shown in FIG. 2, a first content provider may set and supply a first CU (portfolio A), a second content provider may set and supply a second CU (portfolio B), and a third content provider may set and supply a second CU (portfolio B). A third CU (portfolio C) may be set and supplied, and a fourth content provider may set and supply a fourth CU (portfolio D).

Also, each CU may be purchased by a plurality of content consumers.

For example, a first CU (A portfolio) set by a first content provider may be purchased by a plurality of content consumers. In addition, the first CU set by the first content provider and the plurality of first CUs purchased by content consumers may be included in the total of N collective assets.

In this case, the first content provider may transmit an updater of its first CU, that is, a trading request signal for a management action, to the order processing system 100 according to the technical concept of the present invention.

In this case, the order processing system 100 may need to execute the order so that all of the N first CUs can be equally updated. In addition, the trading result may be the same or preferably the same for each CU.

That is, if the trading request signal is a request signal to sell 100 shares of a specific financial instrument included in the 1st CU, it may be necessary to sell 100 shares of all N 1CUs at the same price or, preferably, the same price for the management of the collective asset. . Likewise, if the trading request signal is a request signal to buy 100 shares of a specific financial instrument in the 1st CU, it may be necessary to buy 100 shares of all N 1CUs at the same price or preferably at the same price for managing the collective asset.

In order to implement the technical idea of the present invention, the order processing system 100 performs a management act of the CU set by the content provider from a predetermined content provider terminal 300, that is, a trading request signal for a specific financial product for the updater Instead of receiving a trading price, a time range for trading can be designated. Of course, more quantities can be specified. Then, the order processing system 100 may output the order to at least one order receiving system 500 by dividing the order by the trading quantity for the entire CU during the corresponding time range.

This is because it may be very difficult to obtain trading results for the entire CU at a specific price when a specific financial instrument is to be traded at a specific price. For example, when the first content provider transmits a request signal to trade 100 shares of a specific financial product included in the 1st CU set by itself at 100 won, in order to ensure that all 1CUs included in the collective asset remain identical For each of the entire 1st CU, 100 shares must be available for sale at 100 won.

To this end, trading must be performed so that all 1 CUs (eg, 1000) can sell 100 shares at 100 won, and in this case, a specific financial product as many as the number of price * total 1 CUs is the price that the first content provider wants ( For example, 100 won), but this can be very difficult in practice. In particular, when the total number of first CUs is relatively large (eg, 1000), the possibility is inevitably lowered.

Therefore, the order processing system 100 according to the technical idea of the present invention is characterized by receiving the quantity and time range when receiving a trading request signal from the content provider terminal 300 to manage/update its own CU. can

Then, the order processing system 100 creates a plurality of unit orders for attempting to trade by distributing the quantity in each predetermined time period in the time range, and outputs them for each time period so that trading can be attempted. You can create orders.

In this specification, a set order is an order that includes a plurality of unit orders, and that the order processing system 100 generates a set order may mean that it includes generating a plurality of unit orders. The fact that the order processing system 100 generates a unit order may include specifying the time period in which the order is to be output and the quantity to be traded by the unit order, and the trading quantity for each unit order is determined by the content provider Of course, it may vary depending on the size of the time range specified by . In addition, the unit orders are, for example, output as a market order at a specific time point (eg, median value) during the corresponding time period, or average price for a certain period of time (eg, 1 minute, 2 minutes, 5 minutes, etc.) before the order output time. The order type or trading price may be determined in a predetermined manner, such as a price, and output to an order receiving system. If there are various order types or sales price determination methods for a unit order, the content provider may select one of them. In any case, it may be preferable that the price of the order is not arbitrarily set by each content provider.

On the other hand, generating a collective order may further include specifying which order receiving system to use as an order receiving system to transmit the unit orders.

That is, the order processing system 100 outputs unit orders to at least one order receiving system 500 so that the order can be processed. It may be a system that

In addition, in response to a trading request signal requested by a specific content provider terminal 300, when a collective order for processing the trading request signal is output to one securities company, the investment strategy of the content provider is exposed to the securities company as it is. may exist.

These problems, as described in the prior registration patent, can result in weakening the main purpose of the present invention to enable the management of collective assets without exposing investment strategies in real time.

Therefore, according to the technical concept of the present invention, when the order processing system 100 receives a predetermined trading request signal from the content provider terminal 300, the content provider terminal based on the quantity and time range included in the trading request signal. All CUs corresponding to (300) generate a collective order that allows the trading result of the quantity to be made in the time range, but at least a part of the collective order is transmitted to different order receiving systems (500). can solve the problem.

For example, the order processing system 100 outputs orders to different order receiving systems (e.g., K Securities Company, N Securities Company, S Securities Company, H Securities Company) for consecutive unit orders included in the collective order. can Depending on the implementation example, the order receiving system may be changed in such a way that several consecutive unit orders are output to the first order receiving system and then several unit orders are output to the second order receiving system.

By setting a plurality of order receiving systems that receive collective orders in various ways, it is possible to prevent any order receiving system from receiving the entire collective order.

According to one example, as will be described later in FIG. 6 , the order processing system 100 may be implemented to distribute and transmit unit orders to a plurality of order receiving systems to have a certain period. Of course, various embodiments may be possible.

Also, as shown in FIG. 2 , the order processing system 100 may receive trading request signals from different content providers. Also, a common time zone may exist among the time ranges included in each trading request signal. In this case, according to an example, the order processing system 100 may divide each time range into predetermined time intervals, and when each trading request signal includes a common time interval, different trading request signals are generated in the common time interval. Single orders for processing can be output to the same order receiving system.

This is a plurality of investment strategies performed by different entities (content providers) when outputting unit orders corresponding to the same time period among unit orders corresponding to different trading request signals to one order receiving system at the same time. This is because the possibility of exposure of the investment strategy can be further lowered because they are output together to a specific order receiving system.

Meanwhile, referring to FIG. 1 again, the terminal 200 of the content provider and/or the terminal 300 of the content consumer may communicate with the order processing system 100 to implement the technical idea of the present invention. A data processing device with a presence is sufficient. For example, it may be implemented in a computer, tablet, mobile phone, IPTV, or the like.

As will be described later, the order receiving system 500 receives an order output directly or indirectly from the order processing system 100 for setting a CU (Creation Unit), managing a CU, or buying or selling a CU It can mean a system that Stocks can be traded through the order receiving system 500 .

The order receiving system 500 may be, for example, a securities company system or an exchange system, but is not limited thereto, and concludes a purchase or sale of stocks to correspond to an order output by the order processing system 100, and the result is a collective asset A system that can be reflected in the account of the user and/or the account of the content consumer is sufficient.

The management account system 400 may be a system for managing accounts for managing collective assets. The management account system 400 may be, for example, a system through which the order processing system 100 can communicate in order to trade stocked or stocked assets for an account managed by an asset management company. The management account system 400 may also be a financial company system that manages management accounts of collective assets. In any case, the order processing system 100 may be implemented to store new assets (ie, assets in units of CUs) in the management account or sell assets (eg, stocks) existing in the management account. .

The order processing system 100 may be implemented as a separate physical device from the order receiving system 500 and/or the operating account system 400 to implement the technical idea of the present invention. Alternatively, the order processing system 100 may be installed in the order receiving system 500 and/or the operating account system 400 to implement the technical concept of the present invention. Alternatively, some components of the order processing system 100 may be installed in the order receiving system 500 or the operating account system 400, and the other components may be implemented as separate physical devices or installed in other systems. there is.

Therefore, the order processing system 100 according to the technical idea of the present invention does not necessarily need to be implemented as any one physical device, and a plurality of physical devices may be organically combined to implement the order processing system 100 as needed. there is.

According to an embodiment of the present invention, assets (at least one CU) of content providers and assets (at least one CU) of content consumers may be operated as collective assets. In addition, the collective asset may be a set of identical assets, that is, a plurality of CUs may be configured and operated. Through this, the content consumer can perform the investment strategy of the content provider, that is, the investment that replicates the CU as it is.

Also, the CU may include at least one stock. It may also include more cash. And all CUs included in collective assets can be maintained/managed so that they always have the same assets. Therefore, transparency of investment can be secured. In addition, when the content provider who sets the CU wants to update the CU, as will be described later, the technical idea of the present invention is to process the order so that the result of the update can be made equally (at the same cost) to all corresponding CUs as much as possible. This transparency can be multiplied.

In addition, since the investment is performed using collective assets, there is an effect of preventing problems in the case where other people's investment strategies are exposed in real time, such as ETFs, discretionary investment, or prior art as described above. In addition, the effect of preventing this problem can be increased by performing the output of the collective order according to the update of the CU to a plurality of order receiving systems.

A specific configuration of the order processing system 100 for implementing these technical ideas may be the same as in FIG. 3 .

3 is a diagram schematically illustrating the configuration of an order processing system for collective assets according to an embodiment of the present invention.

Referring to FIG. 3 , the order processing system 100 according to an embodiment of the present invention includes a control module 110, an interface module 120, and an order module 130.

Depending on the embodiment of the present invention, some of the above-described components may not necessarily correspond to components essential to the implementation of the present invention, and according to the embodiment, the order processing system 100 Of course, it may include more components than this. For example, configurations for performing functions disclosed in prior registration patents may be further included in the order processing system 100 .

The order processing system 100 may include hardware resources and/or software required to implement the technical idea of the present invention, and does not necessarily mean one physical component or one device. no. That is, the order processing system 100 may mean a logical combination of hardware and / or software provided to implement the technical idea of the present invention, and if necessary, it is installed in devices spaced apart from each other to perform each function. By performing, it may be implemented as a set of logical configurations for implementing the technical idea of the present invention.

In addition, the order processing system 100 may refer to a set of components implemented separately for each function or role to implement the technical idea of the present invention. For example, the control module 110, the interface module 120, and/or the ordering module 130 may be located in the same physical device or in different physical devices. When the control module 110, the interface module 120, and/or the order module 130 are located in different physical devices in various ways, the components located in the different physical devices are organically combined with each other so that each module performs function can be realized.

Also, in this specification, a module may mean a functional and structural combination of hardware for implementing the technical concept of the present invention and software for driving the hardware. For example, the module may refer to a predetermined code and a logical unit of hardware resources for executing the predetermined code, and does not necessarily mean a physically connected code or one type of hardware. It can be easily deduced to the average expert in the art of the present invention.

The order processing system 100 according to the technical idea of the present invention is organically combined with a recording medium (storage medium) capable of storing software or programs for implementing each of the modules and a processor capable of executing the software. Of course, it can be implemented.

The control module 110 may control functions and/or resources of other components included in the order processing system 100 (eg, the interface module 120 and/or the order processing system 100). .

The interface module 120 may receive a trading request signal for managing CUs set by the content provider from a terminal (eg, 300) of the content provider.

The trading request signal for managing the CU may be a sale request signal for selling some or all of a specific financial product among financial products included in the CU, or a purchase request signal for incorporating a new financial product into the CU. .

Then, the control module 110 may generate a collective order for changing all CUs corresponding to the CUs included in the collective asset in response to the trading request signal received from the interface module 120 . If there is a trading request for a plurality of financial instruments included in any one CU in the trading request signal, a collective order can be created for each financial instrument, of course.

All CUs corresponding to the CU may refer to all CUs of the same type as the CUs receiving the trading request signal when a plurality of CUs exist in the collective asset. For example, collective assets include N first CUs set by a first content provider and purchased and held by content consumers, M second CUs set by a second content provider and purchased and held by a content consumer, and third content providers. There may be P third CUs that have been set, purchased and held by a content consumer. Then, when a trading request signal for management of the first CU is received from the terminal of the first content provider through the interface module 120, the control module 110 issues a collective order for all N first CUs included in the collective asset. can create

As such, when the collective order is generated by the control module 110, the ordering module 130 may execute the generated collective order targeting at least one order receiving system. That is, a plurality of unit orders included in the collective order may be output to at least one order receiving system so that each unit order is executed. Therefore, executing the collective order may mean outputting the order distributed over a plurality of times so that the collective order can achieve a target result, rather than outputting the order one-time.

At this time, the trading request signal received by the interface module 120 may not include a price as described above, but may include a time range in which a collective order corresponding to the trading signal is to be executed. Of course, information on the quantity of financial instruments to be traded for each CU may be included.

Then, in response to the trading request signal, the control module 110 performs a predetermined time period within the time range so that the trading result of the quantity is reflected in each of the total CUs corresponding to the CUs included in the collective asset. It is possible to create a plurality of unit orders to be output every time. And by generating a plurality of unit orders in this way, the collective order can be generated.

The time period may be set in advance by the order processing system 100 . For example, a 5-minute interval may be a time interval. This time period may be fixed and set in advance, or may be separately set for each collective order.

For example, if the total number of financial products to be purchased by collective order is 100 and the time range is 2 hours, if a fixed time period, for example, 5 minutes is set and used, the order processing system 100 can generate a total of 24 unit orders. can create In addition, the control module 110 may be set to trade four quantities for each unit order, and the quantity (100-24 * 4 = 4) remaining in any one unit order or a plurality of unit orders is additionally can be assigned

However, this time period may further increase or decrease depending on the quantity of group orders or the time range set by the content provider.

As such, an example in which the control module 110 generates a collective order will be described in detail with reference to FIGS. 4 to 6 .

4 to 6 are diagrams showing specific examples of an order processing method for collective assets according to an embodiment of the present invention.

First, referring to FIG. 4 , a first content provider may transmit a first trading request signal for its first CU (eg, CU_A) to the order processing system 100 .

The first trading request signal may be a request to the first CU to trade the predetermined first financial instrument by the quantity m _a for a time range (eg, t ₁ -t ₆ ). Of course, the first content provider may arbitrarily set a time range (eg, 10:00 to 11:00), and it may not necessarily be necessary to designate the time range in consideration of the unit of time section.

The second content provider may transmit a second trading request signal for its second CU (eg, CU_B) to the order processing system 100 . The second trading request signal may be a request to the second CU to trade a predetermined second financial instrument by the quantity m _b for a time range (eg, t ₁ -t ₅ ).

Likewise, the third content provider may transmit a third trading request signal for its third CU (eg, CU_C) to the order processing system 100 . The third trading request signal may be a request to the third CU to trade a predetermined third financial instrument by the quantity m _c for a time range (eg, t ₇ -t _m ).

And, as shown in FIG. 4, the total number of first CUs (CU_A) included in the collective asset is 100, the number of second CUs (CU_B) is 300, and the number of third CUs (CU_C) is 1,500.

Then, the order processing system 100 having received the first trading request signal, the second trading request signal, and the third trading request signal, respectively, the first trading request signal, the second trading request signal, and the third trading request signal Set orders (eg, DA, DB, DC) corresponding to each may be created.

The control module 110 may generate a first collective order DA, and the first collective order DA may include unit orders a1, a2, a3, a4, a5, a6) may be included. And, the control module 110 controls the order module 130 to generate unit orders a1 in time interval t1, unit order a2 in time interval t2, unit order a3 in time interval t3, and unit in time interval t4 by controlling order module 130. The first collective order (DA) can be executed by outputting order a4, unit order a5 in time interval t5, and unit order a6 in time interval t6.

In addition, the control module 110 may generate a second collective order (DA) corresponding to the second trading request signal, and the second collective order (DB) is unit orders (as shown in FIG. 4). b1, b2, b3, b4, b5) may be included. And, the control module 110 controls the order module 130 to generate unit orders b1 in time interval t1, unit order b2 in time interval t2, unit order b3 in time interval t3, and unit in time interval t4. The second collective order (DB) can be executed by outputting the unit order b5 in the order b4 and the time interval t5.

In addition, the control module 110 may generate a third collective order (DC) corresponding to the third trading request signal, and the third collective order (DC) is unit orders (DC) as shown in FIG. c1, c2, ..., c3, c4). And, the control module 110 controls the ordering module 130 to set each unit order c1 in time interval t7, unit order c2 in time interval t8, unit order c3 in time interval t(m-1), The third set order (DC) can be executed by outputting the unit order c in the time interval tm.

Each of the unit orders included in the collective order corresponding to any one trading request signal may be executed in different time intervals, and therefore, the execution result of each unit order, that is, the execution price may be different from each other. However, if the average of the total number of contract prices is allocated to each CU, it can be treated as the transaction of the financial instrument in each CU at the same or substantially the same price, so there is an effect of maintaining the identity of each CU.

For example, the trading request signal of the first CU may include information about trading the first financial product for a time range of 6 weeks (ma) t1-t6.

In this case, the control module 110 may check the total number of CUs of the first CU included in the collective asset. The total number of first CUs may be 100.

Then, the control module 110 may generate a collective order for trading the first financial product for t1-t6 (ma*the total number of first contracts), that is, 600 shares. According to an embodiment, the time range designated by the first content provider may be divided into 6 time sections, and in this case, the control module 110 generates unit orders (a1, a2) for trading the quantity of 100 shares for each unit order. , a3, a4, a5, a6) can be created.

An example of generating a collective order corresponding to the trading request signal will be described again with reference to FIG. 5 .

Referring to FIG. 5 , for example, the first content provider makes a request to trade a specific financial product for its first CU through its terminal 300 in a time range of 10 weeks, 10:00 to 12:00. A signal may be output to the interface module 120 of the order processing system 100 .

Then, the control module 110 checks the total number of CUs (eg, 100) corresponding to the first CU included in the collective asset, and determines the total number of CUs (eg, 100) and the quantity ( For example, based on 10 pieces), the total quantity (eg, 10*100=1000 pieces) to be traded during the time range can be specified.

Then, the control module 110 may specify the unit quantity to be traded as the unit order based on the specific total quantity (eg, 1000 units) and the time range (eg, 2 hours). As described above, if the time interval is preset and the preset time interval is 6 minutes, a total of 10 time intervals may exist in one hour. In addition, when the time range is 2 hours, a total of 20 time intervals may be allocated to the collective order.

Then, the control module 110 may determine the unit quantity for each unit order based on the total quantity and the number of time sections. In the above example, the unit quantity may be 50. Of course, a remainder may occur when the total quantity is divided into time intervals, and in this case, the remainder may be additionally allocated to one or more unit orders as appropriate.

Then, the control module 110 may generate a first unit order (a1) for trading 50 shares of a specific financial product between the first time interval (t1, 10:00 to 10:06), and the second A second unit order (a2) for trading 50 shares of a specific financial product can be generated between the time interval (t2, 10:06 to 10:12), and in this way, the 20th time interval (t20, 11: 54 to 12:00), a 20th unit order (a20) for trading 50 shares of the specific financial product may be created. Of course, unit orders may be generated before a corresponding time period, and the control module 110 may control the output to at least one order receiving system through the order module 130 in the corresponding time period. .

In this way, if the trading price is not set in the trading request signal and the time range to be concluded is set, there is a high possibility that the trading of a specific financial product will not be carried out at the specific price range desired by the content provider, but the trading quantity for the entire CU is divided There is an effect that a stable trading price can be formed by trading. In addition, since the average trading price of the entire quantity concluded by the corresponding time range can be set as the trading price of each CU, there is an effect that all CUs can be processed as being updated while maintaining the same.

Meanwhile, the time range included in the trading request signal may not necessarily be continuous. That is, the order processing system 100 may allow the content provider to designate a discontinuous time range.

Depending on the content provider, the preferred trading time zone may be different, and the preferred trading time zone may also be different for each financial product.

Therefore, in order to provide flexibility in the management behavior of the content provider, the order processing system 100 may allow provision of a discontinuous time range.

Also, as described above, the control module 110 may set an order receiving system to receive each unit order. An order receiving system specified to receive a specific unit order is defined as a target order receiving system of the specific unit order.

An example of setting a discontinuous time range at the time of a trade request and setting a target order receiving system for each unit order will be described with reference to FIG. 6 .

Referring to FIG. 6 , in the case of managing collective assets according to the technical concept of the present invention, financial products (issues) as shown in FIG. 6 may exist in the illustrated quantity in the collective assets.

The collective asset shown in FIG. 6 may be a sum of financial instruments included in each of several types of CUs. In addition, FIG. 6 shows a case where each time period is set to 5 minutes.

In addition, the first trade request signal (SK Hynix's request signal to buy), the second trade request signal (DB HiTek's request signal to sell), the third trade request signal (Samsung Electronics' request signal to buy, The 4th trade request signal (Samsung SDI's request signal to sell), the 5th trade request signal (LG Innotek's request signal to sell), and the 6th trade request signal (Samsung SDS's request signal to sell) all interact with each other. It may be request signals output to the order processing system 100 by different content providers, that is, trading request signals for different CUs, and at least some of them may be request signals output by the same content provider to manage the same CU.

The first trading request signal may be, for example, a request signal to purchase a financial product called SK Hynix between 10:00 and 12:00. You can create collective orders. The first collective order may be an order to output unit orders to purchase a financial product called SK Hynix for 10 shares for each time period during the entire time range (10:00 to 12:00).

The second trading request signal may be, for example, a request signal for selling a financial product called DB HiTek between 10:00 and 12:00. You can create collective orders. The second collective order may be an order for outputting unit orders for selling a financial product called DB HiTek for 10 shares for each time period during the entire time range (10:00 to 12:00).

The third trading request signal may be, for example, a request signal for purchasing a financial product called Samsung Electronics between 10:00 and 11:00. You can create collective orders. The third collective order may be an order to output unit orders to purchase a financial product called Samsung Electronics for 50 shares for each time period during the entire time range (10:00 to 11:00).

The fourth trading request signal may be, for example, a request signal for selling a financial product called Samsung SDI between 10:00 and 11:00. You can create collective orders. The fourth collective order may be an order to output unit orders to sell a financial product called Samsung SDI for 50 shares for each time period during the entire time range (10:00 to 11:00).

The fifth trading request signal designates a plurality of discontinuous partial time ranges (10:00 to 10:15, 10:40 to 11:00, and 11:05 to 11:30) as time ranges, and the LG Innotek financial It may be a request signal for selling a product. Even in this case, the control module 110 may generate a fifth set order corresponding to the fifth trading request signal. The fifth collective order is a unit order to sell a financial product called LG Innotek for 50 shares for each time period in the entire time range, that is, a plurality of partial time ranges (10:00 to 10:15, 10:40 to 11:00 , 11:05 to 11:30).

In addition, the sixth trading request signal may be, for example, a request signal for selling a financial product called Samsung SDS between 10:00 and 11:00. A sixth collective order can be created. The sixth collective order may be an order for outputting unit orders for selling a financial product called Samsung SDS for 10 shares for each time period during the entire time range (10:00 to 11:00).

In this way, the order processing system may collect a plurality of different trading request signals and output unit orders corresponding to each trading request signal to the order receiving system for each corresponding time period.

Meanwhile, as shown in FIG. 6, the control module 110 outputs at least some of the unit orders included in any one collective order to different order receiving systems (e.g., A, B, C, D) can do.

That is, the control module 110 may specify a target order receiving system for each unit order. Also, the control module 110 may specify a target order receiving system for each of the unit orders so that at least one collective order is not transmitted to any one ordering system.

For example, each of the 24 unit orders included in the first collective order is sequentially output to the order receiving system of A, B, C, and D, and the target order receiving system may be repeated in a period of 4 time intervals.

Of course, as shown in FIG. 6, each successive time interval for each time interval may be set so that different order receiving systems receive unit orders, but it is not limited thereto and corresponds to several consecutive time intervals. Any one order receiving system may be set as the target order receiving system for unit orders, and then unit orders corresponding to several consecutive time intervals may be set as other target order receiving systems.

In addition, the control module 110, as shown in FIG. 6, when different trading request signals are received and the time range corresponding to each trading request signal includes a common time range, that is, a common time period, the control module (110) may set the same order receiving system as the target order receiving system in a common time period.

That is, the control module 110 may specify a target order receiving system corresponding to unit orders for each of the trading request signals, but simply corresponds to the corresponding time section for each time section without considering the individual trading request signals. A target order receiving system of unit orders to be ordered may be specified.

For example, as shown in FIG. 6, the control module 110 simply sets the order receiving system “A” as the target order receiving system in the time period between 10:00 and 10:05, and from 10:05 to 10: In the time interval between 10, the order receiving system "I" can be set as the target order receiving system. Even if the unit orders included in different collective orders are output to one target order receiving system in the same time period, as described above, the orders corresponding to a part of the plurality of investment strategies (collective orders) are integrated. and transmitted to the target order receiving system, the exposure risk of the investment strategy can be further reduced.

After all, according to the technical idea of the present invention, the investment strategy of another person (contents provider), that is, the CU is duplicated as it is so that the investor (contents consumer) can invest, while the content provider manages the CU set by himself, that is, updates If you want to do, there is an effect that the entire CU can be updated while maintaining identity/consistency as much as possible.

In addition, real-time exposure of the investment strategy can be prevented by allowing different order receiving systems to participate in unit orders executed during the execution of collective orders.

The order processing method for collective assets according to an embodiment of the present invention may be implemented in the form of computer-readable program instructions and stored in a computer-readable recording medium, and a program for implementing the technical idea of the present invention may also be implemented. It may be stored in a computer-readable recording medium. A program stored in such a recording medium may be executed by a processor to implement the technical concept of the present invention. The computer-readable recording medium includes all types of recording devices in which data that can be read by a computer system is stored.

Program commands recorded on the recording medium may be specially designed and configured for the present invention, or may be known and usable to those skilled in the software field.

Examples of computer-readable recording media include magnetic media such as hard disks, floppy disks and magnetic tapes, optical media such as CD-ROMs and DVDs, floptical disks and hardware devices specially configured to store and execute program instructions, such as magneto-optical media and ROM, RAM, flash memory, and the like. In addition, the computer-readable recording medium is distributed in computer systems connected through a network, so that computer-readable codes can be stored and executed in a distributed manner.

Examples of program instructions include high-level language codes that can be executed by a device that electronically processes information using an interpreter, for example, a computer, as well as machine language codes generated by a compiler.

The hardware device described above may be configured to operate as one or more software modules to perform the operations of the present invention, and vice versa.

The above description of the present invention is for illustrative purposes, and those skilled in the art can understand that it can be easily modified into other specific forms without changing the technical spirit or essential features of the present invention. will be. Therefore, the embodiments described above should be understood as illustrative in all respects and not limiting. For example, each component described as a single type may be implemented in a distributed manner, and similarly, components described as distributed may be implemented in a combined form.

The scope of the present invention is indicated by the following claims rather than the detailed description above, and all changes or modifications derived from the meaning and scope of the claims and equivalent concepts thereof should be construed as being included in the scope of the present invention. .

Claims (15)

A trading request signal for management of the CU (Creation Unit) set by the content provider from the terminal of the content provider - the trading request signal is a request signal for selling at least a part of the financial product included in the CU or to the CU an interface module for receiving a request signal for incorporating a new financial instrument;
a control module for generating a collective order for changing all CUs corresponding to the CUs included in collective assets in response to the trading request signal received from the interface module; and
An order module for executing the collective order generated by the control module for at least one order receiving system;
The interface module,
Receiving the trading request signal including the quantity of the financial instrument to be traded and the time range for trading, but excluding the trading price;
The control module,
In response to the trading request signal, a plurality of unit orders to be output for each time section in which the time range is divided within the time range so that the trading result of the quantity is reflected in each of the total CUs included in the collective asset. generating the collective order comprising;
The order receiving system to output the order for each time interval is specified, but the target order receiving system is specified so that at least two of the time intervals are output to different order receiving systems,
When a plurality of trading request signals including the first trading request signal and the second trading request signal are received through the interface module,
generating a first collective order including a plurality of first unit orders to be output every predetermined time interval within a first time range included in the first trading request signal;
Generating a second collective order including a plurality of second unit orders to be output every predetermined time interval within a second time range included in the second trading request signal;
An order processing system for collective assets that specifies the same target order receiving system for unit orders corresponding to the same time period among the first unit orders and the second unit orders.
The method of claim 1, wherein the control module,
When the trading request signal is received, the total number of CUs included in the collective asset is checked, and the total number to be traded during the time range is specified based on the checked number of all CUs and the quantity;
An order processing system for collective assets that specifies the unit quantity to be traded with the unit order based on the specific total quantity and the time range.
The method of claim 1, wherein the interface module,
Receiving information about the time range including a plurality of partial time ranges that are discontinuous with each other;
The control module,
An order processing system for collective assets that specifies the unit orders to be output for each time interval in each of the partial time ranges.
delete delete delete delete The order processing system for collective assets sends a trading request signal for management of a CU (Creation Unit) set by the content provider from the terminal of the content provider - the trading request signal is used to sell at least a part of the financial products included in the CU receiving a request signal for incorporating a new financial product into the CU;
generating, by the order processing system for the collective asset, a collective order for changing all CUs corresponding to the CUs included in the collective asset in response to the received trading request signal;
Executing, by the order processing system for the collective asset, the collective order for at least one order receiving system;
Receiving the trading request signal,
Receiving the trading request signal including the quantity of the financial instrument to be traded and the time range for trading, but not including the trading price;
The step of generating the collective order,
The collective order including a plurality of unit orders to be output for each time interval in which the time range is divided so that the trading result corresponding to the quantity is reflected in each of the total CUs included in the collective asset in response to the trading request signal. and specify the order receiving system to output the order for each time interval, but specify the target order receiving system so that at least two of the time intervals are output to different order receiving systems,
When a plurality of trading request signals including a first trading request signal and a second trading request signal are received, a plurality of first trading request signals to be output every predetermined time interval within a first time range included in the first trading request signal. generating a first collective order including unit orders and generating a second collective order including a plurality of second unit orders to be output every predetermined time interval within a second time range included in the second trading request signal; and specifying the same target order receiving system for unit orders corresponding to the same time period among the first unit orders and the second unit orders.
The method of claim 8, wherein the generating of the collective order comprises:
checking the total number of CUs included in the collective asset when the trading request signal is received, and specifying a total quantity to be traded during the time range based on the checked total number of CUs and the quantity; and
and specifying a unit quantity to be traded in the unit order based on the specific total quantity and the time range.
The method of claim 8, wherein the receiving of the trading request signal comprises:
It is characterized in that the order processing system for the collective asset receives the trading request signal including information about the time range including a plurality of partial time ranges that are discontinuous with each other,
The step of generating the collective order,
and specifying, by the order processing system for the collective asset, the unit orders to be output for each time interval in each of the partial time ranges.
delete delete delete delete A recorded computer program installed in a data processing device for carrying out the method according to any one of claims 8 to 10.

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