WO2021172776A1

WO2021172776A1 - Bm return verification method and apparatus

Info

Publication number: WO2021172776A1
Application number: PCT/KR2021/001315
Authority: WO
Inventors: Yeong Rong LEE; Young Seok Lee
Original assignee: Shinhanaitas Co.,Ltd.
Priority date: 2020-02-28
Filing date: 2021-02-01
Publication date: 2021-09-02
Also published as: KR102168545B1

Abstract

Provided are a benchmark (BM) return verification method and apparatus. The BM return verification method includes: receiving BM data from an external system at certain time intervals; analyzing generation times of previously-stored reference BM data and the received BM data, extracting a detailed BM factor of the received BM data and a detailed BM factor of the reference BM data, and comparing BM returns based on the extracted detailed BM factors, thereby verifying a difference between BM returns.

Description

BM RETURN VERIFICATION METHOD AND APPARATUS

One or more embodiments relate to benchmark (BM) return verification methods and apparatuses.

In a fund, the closing price for each asset is received by reflecting trading details of the day for the previous day's holdings, and an evaluation process of an accounting system is completed, and then, a fund holding statement is generated every day. Loss or profit of a stock held by the fund can be determined through the statement of holdings on the day. As the risk of direct investment increases as the fund's recent stock price fluctuations in the securities industry increase, interest in various funds that are investors' indirect investment products, is increasing. Fund managers make independent investment decisions based on their expertise, adjust the composition of investment assets according to changes in financial situations and fluctuations of a stock market in managing of assets, and make investment plans to always obtain the maximum investment return. Thus, the resulting investor's return varies greatly depending on how fund managers manage their funds.

A benchmark (hereinafter, referred to as BM) is a pre-determined index for measuring the investment performance of the fund. That is, the BM means that the fund follows or pursues more than the return of an index. Thus, the BM may be an index that provides a basis for rationally measuring the operating performance of the fund.

BMs vary depending on the type of the fund. This is the same as creating the same standard as a result of efforts to match the fund's management objectives with the objective market returns. In general, equity funds investing in the securities market tend to use the KOSPI as a BM, but many funds use the KOSPI200 index, which is an underlying asset for futures and options, as a benchmark index. When you invest mainly in the KOSDAQ market, you can use the KOSDAQ index as a BM. If you invest in a mixture, you can use the KOSDAQ index by weighting the KOSDAQ index according to the investment weight of the fund. For bond-type funds, the bond index becomes a primary BM, mainly 3-year treasury bonds. For hybrid funds, BMs also need to vary depending on the investment ratio of stocks and bonds. For example, if investing in stocks and bonds at 5:5, 50% is calculated in the stock market and 50% is calculated in the bond market.

On the other hand, when a BM index or BM data is received from an external system, errors increase as the data is repeatedly generated to calculate the BM return, and the integrity of file transfer protocol (FTP) re-reception may deteriorate.

One or more embodiments include benchmark (BM) return verification methods and apparatuses. The technical problem to be achieved by the present disclosure is not limited to the technical problems as described above, and other technical problems may be inferred from the following embodiments.

Additional aspects will be set forth in part in the description which follows and, in part, will be apparent from the description, or may be learned by practice of the presented embodiments of the disclosure.

According to one or more embodiments, a benchmark (BM) return verification method, performed by using a processor, the method includes receiving BM data from an external system at certain time intervals, analyzing a generation time of each of reference BM data that is previously stored in an internal system and the BM data received from the external system, extracting each of a detailed BM factor of the received BM data and a detailed BM factor of the reference BM data, comparing respective BM returns based on the extracted detailed BM factors, when a difference between the respective BM returns is greater than a first threshold value, updating the reference BM data that is previously stored in the internal system based on the BM data received from the external system, wherein

the analyzing of the generation time includes

when a difference between generation times of the reference BM data stored in the internal system and the received BM data is greater than a second threshold value, the reference BM data stored in the internal system is updated using the received BM data.

According to one or more embodiments, a benchmark (BM) return verification apparatus includes a communication unit, a memory, and a processor, wherein

the processor receives BM data from an external system at certain time intervals, analyzes a generation time of each of reference BM data that is previously stored in an internal system and the BM data received from the external system, extracts each of a detailed BM factor of the received BM data and a detailed BM factor of the reference BM data, compares respective BM returns based on the extracted detailed BM factors, when a difference between the respective BM returns is greater than a first threshold value, updates the reference BM data that is previously stored in the internal system based on the BM data received from the external system by using the processor, and when a difference between generation times of the previously-stored reference BM data and the received BM data is greater than a second threshold value, updates the previously-stored reference BM data using the received BM data.

According to one or more embodiments, a computer-readable recording medium having recorded thereon a program for executing the BM return verification method in a computer.

The above and other aspects, features, and advantages of certain embodiments of the disclosure will be more apparent from the following description taken in conjunction with the accompanying drawings, in which:

FIG. 1 is a schematic view for describing an example of a benchmark (BM) return verification apparatus 100 according to an embodiment;

FIG. 2 is a flowchart illustrating a BM return verification method according to an embodiment;

FIGS. 3 through 5 are example views of BM return verification screens;

FIG. 6 is a schematic view of a BM return verification apparatus 600 according to another embodiment; and

FIG. 7 is a flowchart illustrating a BM return verification method according to another embodiment.

Reference will now be made in detail to embodiments, examples of which are illustrated in the accompanying drawings, wherein like reference numerals refer to like elements throughout. In this regard, the present embodiments may have different forms and should not be construed as being limited to the descriptions set forth herein. Accordingly, the embodiments are merely described below, by referring to the figures, to explain aspects of the present description. As used herein, the term "and/or" includes any and all combinations of one or more of the associated listed items. Expressions such as "at least one of," when preceding a list of elements, modify the entire list of elements and do not modify the individual elements of the list.

The terms used in the embodiments are selected from general terms that are currently widely used as possible while considering the functions in the embodiments. However, the terms may vary depending on the intension or precedent of those skilled in the art, the emergence of new technologies, etc. In addition, in a specific case, there are terms that are arbitrarily selected, and in this case, the meaning of the terms will be described in detail in the description of the embodiment. Therefore, the terms used in the embodiments are not simple names, but it should be defined based on the meaning and contents of the present embodiments.

In the description of the embodiments, when a certain portion is connected to anther portion, this is not only a case that is directed connected, but also a case that is electrically connected with another component therebetween. Also, it will be understood that when a portion is referred to "include" a certain component, it does not exclude other components, but may further include other components, unless otherwise stated. In addition, the term "~ unit" described in the embodiments refers to a unit that processes at least one function or operation, which is implemented as hardware or software, or by a combination of hardware and software.

It should not be construed that the terms "consisting of" or "comprising" used herein are meant to include all of various components and steps described in the specification, and it should be construed that some components or some steps may not be included or additional components or steps may be further included.

The description of the following embodiments should not be construed as limiting the scope of the rights, and what those skilled in the art can easily infer should be construed as belonging to the scope of the embodiments. Hereinafter, embodiments for illustration only will be descried in detail with reference to the accompanying drawings.

FIG. 1 is a schematic view for describing an example of a benchmark (BM) return verification system 100 according to an embodiment.

Referring to FIG. 1, the BM return verification system 100 may include an asset management server 110 and a BM return verification server 120.

The asset management server 110 that is a system operated by an asset management company, may be a system that allows a fund manager, system operator, or user to inquire, trade, manage, and store the assets of owned fund. Here, although the asset management server 110 and the BM return verification server 120 are shown separately, functions may be integrated into one server, and may be configured separately for fund aggregation. Also, a program provided by the BM return verification server 120 may be executed in the asset management server 110 to implement BM return verification. In a BM return verification service according to an embodiment, the BM return verification server 120 may continuously receive BM data from the beginning of the market of the exchange at each certain point to perform BM return verification of the corresponding fund.

Hereinafter, it will be described mainly that the BM return verification service is performed in the BM return verification server 120.

The BM return verification server 120 may receive BM data from an external system at certain time intervals. The BM return verification server 120 may analyze generation times of previously-stored reference BM data and the received BM data. A detailed BM factor of the received BM data and a detailed BM factor of the reference BM data may be extracted, and respective BM returns may be compared based on the extracted detailed BM factors. The BM return verification server 120 may verify a BM return based on a difference between the BM returns. For example, when the difference between the BM returns is greater than or equal to a threshold value, the previously-stored reference BM data may be updated based on the received BM data. It will be described with reference to FIG. 2 that the BM return verification server 120 verifies the BM returns.

FIG. 2 is a flowchart illustrating a BM return verification method according to an embodiment.

Referring to FIG. 2, in operation 200, BM data may be received from an external system. Here, foreign system information refers to BM data received from the external system. Here, the external system may be a system that provides various BM data. For example, the external system may be an exchange system that provides KOSPI, KOSPI200 or KOSDAQ index, or a system that provides Morgan Stanly Capital Internal (hereinafter, referred to as MSCI) index or Financial Times Stock Exchange (hereinafter, referred to as FTSE) index. The BM data may be data, such as an assessment for each detailed item of KOSPI, a return, etc. For example, the BM data may be various types of BM data, such as the market price of all KOSPI stocks, by industry (large-capital stock, mid-capital stock, small-capital stock, food and beverage, etc.), by sector (semiconductor, mobile, Internet, entertainment, etc.), and the KOSPI200 index.

In operation 201, an internal BM server may provide BM internal information. Here, the BM internal information may be the reference BM data that is previously received and stored in the internal BM server, for example, the BM return verification server 120. The BM data provided in operation 200 and the BM internal information provided in operation S201 may be the same data.

In operation 202, generation times of variables of respective BM data may be analyzed. A generation time of variables or values of the previously-stored BM internal information and a generation time of variables or values of the BM data received in operation 200 may be compared with each other. As shown in FIG. 3, a management company, a BM factor, a provider, an intermediate table generation time 300, a front end processor (FEP) table generation time 310, and violation 320 are shown. Here, the intermediate table generation time 300 may be a generation time of BM data previously stored in an internal BM server (not shown) or the BM return server 120, and the FEP table generation time 310 may be a generation time of the BM data received from the external system in real time. A reception time of BM data corresponding to a first BM factor received from the external system, for example, FnGuide, and a generation time of the corresponding BM data may be different from each other. Here, the generation time of the corresponding BM data may be compared with the generation time of the previously-stored BM data of the corresponding BM factor. Thus, when a difference between generation times is large, in-consistency is displayed on the violation 320. In an embodiment, the BM return verification server 120 may re-execute BM data re-work according to a difference after time verification, and updating of the BM data of the internal BM server.

In operation 204, each generation criterion from a detailed factor of the reference BM data that is previously stored in the internal BM server provided in operation 203 may be compared with the detailed BM factor of the received BM data, thereby performing verification and analysis. As shown in FIG. 4, the detailed BM factor from each BM data that is variable names, may be bank accounts, bank account interest rate (PCA), Euro exchange rate (T-1), KOSPI total return for public employee pension, etc. Difference values between received BM data and reference BM data of each detailed BM factor by date may be displayed. For each of the difference values, an error range, a certain threshold value or ratio may be set, and those within the error range and those exceeding the error range may be separately displayed. When a user or operator selects a detailed BM factor that exceeds the error range, corresponding values of the detailed factor of the received BM data and the detailed factor of the reference BM data may be displayed, and the reference BM data may be updated according to the user's selection.

In operation 206, a BM formula or BM value that is a detailed factor of the corresponding fund and a return criterion may be provided from the internal BM server from operation 205, and BM returns may be calculated from respective BM data and compared with each other.

In operation 207, when the BM returns are not consistent with each other, data generation may be re-executed. For example, when the difference between respective returns is greater than a certain threshold value, the reference BM data stored in the internal BM server may be updated based on the received BM data. As shown in FIG. 5, a BM formula 500, a BM return 510, an UKSFBF return 520, and a difference value 530, which correspond to each fund, may be displayed on a user screen. Here, the BM formula 500 may be a detailed BM factor used to calculate a BM index in a certain fund, and different criteria may be used for each management company or fund. Thus, verification may be performed through calculation of each detailed BM factor for each set BM equation. The BM return 510 may be a BM return calculated based on the received BM data, and the UKSFBF return 520 may be a BM return calculated based on the reference BM data, or the BM data stored in the internal BM server. A difference value between respective BM returns may be calculated and thus may be displayed. In an embodiment, when the difference value between respective BM returns is greater than a certain threshold value, generation of BM data may be re-executed. In this case, the previously-stored reference BM data may be updated based on the received BM data. Also, optionally, the BM data may be updated based on the latest variable generation time of each BM data in operation 202. For example, due to various reasons, the BM data received in real time may not be the latest data. In this case, the previously-stored BM data may be the latest data, so that generation of the BM data may be re-executed with the latest data based on the variable generation time.

In the related art, when the BM index is re-received, data storage and manual work were performed at the same time. However, in the BM return verification method according to the embodiment, generation of BM data may be automatically verified every 10 seconds to 1 minute, and a BM file was generated by hand even when the BM file is generated. However, when an abnormality occurs, such as inconsistent returns, the BM file is automatically regenerated. Also, even though it takes a long time to verify the BM return so as to ensure integrity, the BM return may be quickly and accurately verified, and integrity may be ensured according to embodiments.

FIG. 6 is a schematic view of a BM return verification apparatus 600 according to another embodiment.

Referring to FIG. 6, the BM return verification apparatus 600 may include a processor 610, memory 620, and a communication unit 630. Only components related to the present embodiments are shown in the BM return verification apparatus 700 shown in FIG. 6. Thus, it is apparent to those skilled in the art that other general-purpose components than the components shown in FIG. 6 may be further included.

The processor 610 may receive BM data from an external system at certain time intervals through the communication unit 630. The processor 610 may receive BM data from the external system at certain time intervals and may analyze generation times of reference BM data stored in the memory 620 and the BM data received through the communication unit 620. The processor 610 may extract a detailed BM factor of the received BM data and a detailed BM factor of the reference BM data, may compare respective BM returns based on the extracted detailed BM factors, and may verify the BM returns based on a difference between respective BM returns.

When the difference between respective BM returns is greater than a first threshold value, the processor 610 may update the previously-stored reference BM data based on the received BM data. Also, the processor 610 may display a return corresponding to the previously-stored reference BM data, a return corresponding to the received BM data, and a difference value between the respective returns, so that the user or operator may check a difference between respective returns and a cause thereof.

The processor 610 may visualize and display a difference value between the detailed BM factor of the received BM data and the detailed BM factor of the reference BM data by date. For example, the corresponding difference value may be displayed separately depending on whether it is within or exceeds an error range.

The processor 610 may be implemented with a central processing unit (CPU), a graphics processing unit (GPU), an application processor (AP), or the like, which is provided in the BM return verification apparatus 600. However, embodiments are not limited thereto.

The memory 620 may store a plurality of pieces of data processed or to be processed by the BM return verification apparatus 600. For example, the memory 620 may store the BM data received from the external system, fund data, reference BM data, a detailed BM factor, a BM formula, a BM value, etc.

The memory 620 may be random access memory (RAM), such as dynamic random access memory (DRAM), static random access memory (SRAM), read-only memory (ROM), electrically erasable programmable read-only memory (EEPROM), CD-ROM, Blu-ray or other optical disc storages, HDD(hard disk drive (HDD), SSD(solid state drive (SSD), or flash memory. However, embodiments are not limited thereto.

At least a part of a device (e.g., modules or their functions) or a method (e.g., operations) according to various embodiments may be, for example, implemented with commands stored in a computer-readable storage medium in the form of a program module. When the commands are executed by a processor (e.g., processor 610), one or more processors may perform a function corresponding to the commands. The computer-readable storage medium may be, for example, the memory 620.

The communication unit 730 may communicate with a plurality of external systems to acquire various BM data in real time. Also, the communication unit 730 may provide information required for the asset management server 110 shown in FIG. 1.

Referring to FIG. 7, in operation 700, BM data may be received from an external system at certain time intervals.

In operation 702, generation times of previously-stored reference BM data and received BM data may be analyzed.

In operation 704, a detailed BM factor of the received BM data and a detailed BM factor of the reference BM data may be extracted. Here, the detailed BM factor that is a detailed BM factor consistent with each of a plurality of funds, may include a BM formula, corresponding variables, and a BM value.

In operation 706, respective BM returns may be compared based on the extracted detailed BM factors. A difference value between respective detailed factors may be displayed separately based on the error range.

In operation 708, the BM returns may be verified based on a difference between respective BM returns. In an embodiment, when a difference between respective BM returns is greater than or equal to a certain threshold value, generation of BM data may be re-executed. In this case, the previously-stored BM data may be updated based on the received BM data.

In the BM return verification method according to the one or more embodiments, a BM return generator may be subdivided according to an index-by-index comparison to ensure the integrity of the BM index. In addition, a working time due to BM errors caused by file re-reception and data regeneration according to the related art may be reduced.

As described above, although the present disclosure has been described by the limited embodiments and drawings, the present disclosure is not limited to the above embodiments, and various modifications and variations from these descriptions are possible by those of ordinary skill in the art to which the present disclosure belongs. Therefore, the scope of the present disclosure is limited to the embodiments and should not be determined, but should be determined not only by the claims to be described later, but also by the claims and equivalents.

An embodiment of the present disclosure may be implemented in the form of a recording medium including instructions executable by a computer, such as a program module to be executed by the computer. The computer-readable medium may be any available medium that can be accessed by a computer, and may include both a volatile medium and a nonvolatile medium and a removable medium and a non-removable medium. In addition, the computer-readable medium may include both a computer storage medium and a communication medium. The computer-readable medium may include both a volatile medium and a nonvolatile medium and a removable medium and a non-removable medium, which are implemented with an arbitrary method or technology for storing information, such as computer-readable instructions, data structures, program modules, or other data. The communication medium typically includes computer-readable instructions, data structures, program modules, or other data of a modulated data signal such as a carrier wave, or other transmission mechanism, and any information delivery medium.

It should be understood that embodiments described herein should be considered in a descriptive sense only and not for purposes of limitation. Descriptions of features or aspects within each embodiment should typically be considered as available for other similar features or aspects in other embodiments. While one or more embodiments have been described with reference to the figures, it will be understood by those of ordinary skill in the art that various changes in form and details may be made therein without departing from the spirit and scope of the disclosure as defined by the following claims.

Claims

A benchmark (BM) return verification method, performed by using a processor, the method comprising:

receiving BM data from an external system at certain time intervals;

analyzing a generation time of each of reference BM data that is previously stored in an internal system and the BM data received from the external system;

extracting each of a detailed BM factor of the received BM data and a detailed BM factor of the reference BM data;

comparing respective BM returns based on the extracted detailed BM factors; and, when a difference between the respective BM returns is greater than a first threshold value, updating the reference BM data that is previously stored in the internal system based on the BM data received from the external system, wherein

the analyzing of the generation time comprises, when a difference between generation times of the reference BM data stored in the internal system and the received BM data is greater than a second threshold value, the reference BM data stored in the internal system is updated using the received BM data.
The BM return verification method of claim 1, further comprising displaying a return corresponding to the previously-stored reference BM data, a return corresponding to the received BM data, and a difference value between the respective returns.
The BM return verification method of claim 1, further comprising receiving a plurality of pieces of BM data from a plurality of external systems based on a BM return criterion matching each of a plurality of funds.
The BM return verification method of claim 3, further comprising calculating the respective BM returns according to a BM formula that is the BM return criterion matching each of the plurality of funds and determined based on the detailed BM factor extracted from the previously-stored reference BM data and the detailed BM factor extracted from the received BM data.
The BM return verification method of claim 1, further comprising visualizing and displaying a difference value between the detailed BM factor of the received BM data and the detailed BM factor of the reference BM data by date and separately displaying the difference value depending on whether the difference value is within or exceeds an error range.
A computer-readable recording medium having recorded thereon a program for executing the BM return verification method of any one of claims 1 through 5.
A benchmark (BM) return verification apparatus comprising:

a communication unit;

a memory; and

a processor, wherein

the processor

receives BM data from an external system at certain time intervals,

analyzes a generation time of each of reference BM data stored in the memory and the BM data received from the external system through the communication unit,

extracts each of a detailed BM factor of the received BM data and a detailed BM factor of the reference BM data,

compares respective BM returns based on the extracted detailed BM factors,

when a difference between the respective BM returns is greater than a first threshold value, updates the previously-stored reference BM data based on the received BM data, and

when a difference between generation times of the previously-stored reference BM data and the received BM data is greater than a second threshold value, updates the previously-stored reference BM data using the received BM data.
The BM return verification apparatus of claim 7, wherein the processor displays a return corresponding to the previously-stored reference BM data, a return corresponding to the received BM data, and a difference value between the respective returns.
The BM return verification apparatus of claim 7, wherein the processor receives a plurality of pieces of BM data from a plurality of external systems according to a BM return criterion matching each of a plurality of funds.
The BM return verification apparatus of claim 9, wherein the processor calculates the respective BM returns according to a BM formula that is the BM return criterion matching each of the plurality of funds and determined based on the detailed BM factor extracted from the previously-stored reference BM data and the detailed BM factor extracted from the received BM data.
The BM return verification apparatus of claim 7, wherein the processor visualizes and displays a difference value between the detailed BM factor of the received BM data and the detailed BM factor of the reference BM data by date and separately displays the difference value depending on whether the difference value is within or exceeds an error range.