JP2002329074A - Derivative dealing processing method and its system - Google Patents

Abstract

PROBLEM TO BE SOLVED: To enhance certainty of derivative dealing by suppressing the discrepancy between rate or price offered by a dealer and the rate or price wished to contract by a customer. SOLUTION: An exchange system 100 generates a derivative instrument in accordance with customer's assets and liabilities, determines its rate and price simultaneously, adds or subtracts a credit spread determined by an exchange system 200 to or from the rate or price, transmits the rate or price for an indication added or subtracted the credit spread from the exchange system 100 to a customer terminal 300, and transmits the rate or price for an agreement added or subtracted the credit spread from the exchange system 100 to the customer terminal 300 in accordance with the derivative dealing.

Description

DETAILED DESCRIPTION OF THE INVENTION

[0001]

BACKGROUND OF THE INVENTION 1. Field of the Invention The present invention relates to a method and a system for a computer to process financial transactions between customers and traders, and a method for conducting financial transactions between customers and traders through a telecommunication line. And related to the system,
In particular, it relates to methods and systems used for derivative transactions.

[0002]

2. Description of the Related Art Conventionally, in a derivative transaction, a financial institution and a customer are notified of a rate and a price by face-to-face and telephone communication, and are immediately executed. According to the FSA's “Inspection Manual for Deposit-Accepting Financial Institutions,” global dealer (GD) -type financial institutions deal in major financial markets and produce in-house complex derivatives. And financial institutions that hedge their own Asset Liability Management (ALM) positions and engage in customer transactions, but do not take large positions and have a limited number of end users (EDs) It states that the financial institutions mainly hedge their ALM positions.

[0003]

Therefore, CD-type financial institutions cannot conduct dealings in major financial markets or in-house complex derivatives, so that derivatives products suitable for their clients' assets and liabilities, etc. May not be provided. Also, ED type financial institutions cannot provide derivative products to their customers. In addition, since the rates and prices of derivatives products fluctuate from moment to moment, it has been difficult to digitize exchanges between financial institutions and customers.

[0004] It is an object of the present invention to provide a new derivative trading method and a system thereof with improved reliability of derivative transactions.

[0005] Another object of the present invention is to provide a CD-type financial institution, an ED-type financial institution, or a person who has little know-how in derivative transactions or who is concerned about market risks caused by derivative transactions, as suitable for customer assets and liabilities. Derivatives products provided to its customers.

[0006] Another object of the present invention is to allow a CD-type financial institution, an ED-type financial institution, or a person who has little know-how in derivative transactions or who is concerned about market risks caused by derivative transactions to conduct derivative transactions with its customers. To avoid market risks and the like caused by this.

[0007]

SUMMARY OF THE INVENTION The present invention provides a rate or price for an indication to a customer, and presents a rate or price to a customer for execution in accordance with the execution of a derivative transaction. The rate or price for execution is, for example, a firm rate or firm price.

Further, in the present invention, a derivative processing system adds or subtracts a spread of a trader to a rate or a price of a derivative product creator and presents the result to a customer.

[0009] The present invention also provides for a financial transaction between a customer and a first trader to be executed, and a financial transaction for canceling the position of the first trader created by the financial transaction to the first trader. And a second trader.

[0010]

DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS Hereinafter, a derivative trading method and system according to an embodiment of the present invention will be described with reference to FIGS.
5 will be described.

FIG. 1 shows an overall configuration diagram of a derivative transaction system according to the present invention. The derivative trading system is used or owned by a global dealer (GD) financial institution or someone who has the know-how of derivative transactions or can bear the risks arising from derivative transactions (hereinafter referred to as “GD financial institutions, etc.”). Trading system 10
0, a trading system 200 used by a CD-type financial institution, an ED-type financial institution, or a person who has little know-how in derivative transactions or who is concerned about risks arising from derivative transactions (hereinafter referred to as “CD-type financial institutions, etc.”) Trading system 100, trading system 200, and customer terminal 300
And a network (telecommunication line) 700 that enables electric communication between the salesperson terminal 400 and the customer terminal 500. The network 700 may be a public line or a dedicated line. Trading system 100
Through the network 700, an external information agency 610 that provides information related to financial transactions, an interbank market (store market) 620 for conducting derivative transactions between GD-type financial institutions and the like, and an exchange for conducting derivative transactions It can be connected to the market 630. In the interbank market 620, mainly forward transactions, swap transactions and option transactions are performed, and in the exchange market 630,
Mainly, futures transactions, option transactions, etc. are performed.

The transaction system 100 includes an information acquisition terminal 110 for acquiring information on the basis of a derivative product from the information institution 610, a trader such as a CD-type financial institution, a salesperson such as a CD-type financial institution, and a CD-type financial institution. Server that can be accessed by a customer, a server 130 that can be accessed by a salesperson such as a GD-type financial institution, or a customer such as a GD-type financial institution, and a trader terminal that generates or selects derivatives products based on assets and liabilities, etc. 140, a market transaction terminal 150 for conducting derivative transactions with the interbank market 620 and the exchange 630, a house system 160 for performing administrative and risk management of derivative transactions, an information acquisition terminal 110, servers 120 and 130, and a trader terminal 140 And a network 170 for interconnecting the house system 160 and I can. Server 120 and server 13
0 may be used or owned by a third party other than the person using or owning the trading system 100. House system 160 may be used or owned by a third party other than the person using or owning trading system 100. The network 170 is connected to a dedicated line (LAN (Local Area Network).
rk) and buses). Between the server 120 and other terminals (the information acquisition terminal 110, the server 130, the trader terminal 140, and the house system 160), generation or selection of derivatives products such as assets and liabilities of customers such as CD-type financial institutions, and Data required for calculating rates and prices and data related to the rates and prices of derivatives products are transmitted, but the customer's personal information (for example, name or name, address or address, telephone number or e-mail address, etc.) and CD-type finance Spread data such as credit spreads and closing costs of institutions are not transmitted.

[0013] Server 120 transmits to customer terminal 300.
The name of the CD-type financial institution is added to the web page. In other words, customers such as CD-type financial institutions conduct derivative transactions with CD-type financial institutions, but do not conduct derivative transactions with GD-type financial institutions. On the other hand, the web page transmitted by the server 120 to the trader terminal 210 or the sales representative terminal 220 may have a name such as a CD-type financial institution or a name such as a GD-type financial institution. Good.

[0014] A customer performs a consulting procedure, a proposal / indication procedure, and a transaction procedure for a derivative product on a web page provided by a CD-type financial institution. GD for product information, price conditions, etc.
Type financial institutions. Specifically, for example, the area of derivatives products on the web page provided by CD-type financial institutions is linked to the server of GD-type financial institutions with which CD-type financial institutions are affiliated, and the procedures for derivatives products are: All web provided by GD financial institutions
Processed by page. FIG. 16 shows a conceptual diagram of a relationship between a CD financial institution with a link and a link on a web page provided by a GD financial institution. Reference numeral 1601 denotes a CD-type financial institution server, which provides the entire Web page of 1603. Reference numeral 1602 denotes a server of the GD financial institution affiliated with the CD financial institution 1601, and a link is provided to the area (1604) relating to derivatives products in the web page 1603 to provide such a procedure. 1603
From the customer terminal 1605, a Web page provided by a CD-type financial institution and linked to a Web page provided by a GD-type financial institution regarding derivatives products can be accessed. Reference numeral 1605 may be not only a customer terminal but also a salesperson terminal 220 or a trader terminal 210 of a CD-type financial institution.

When a customer proceeds with a CD-type financial institution with a person in charge of the CD-type financial institution, the person in charge of the CD-type financial institution can use the trader terminal or sales terminal of the CD-type financial institution to operate the GD-type financial institution. Access the server etc. to process the procedure.

[0016] Even in such a case, as described above, the customer only makes a contract with the CD-type financial institution and trades the derivative product. However, the conditions presented by the CD-type financial institution are obtained by adding or subtracting some conditions from the conditions presented by the GD-type financial institution to the CD-type financial institution.
In addition, a CD-type financial institution may enter into a cover transaction in accordance with a contract for a derivative product transaction with a customer. If you are conducting this cover transaction with a partner GD financial institution,
The CD-type financial institution can execute a procedure for executing a contract with the GD-type financial institution using the system of the present invention.

Note that the CD-type financial institution may carry out this cover transaction with another GD-type financial institution, but the transaction with the original customer is continued by the GD-type financial institution via the CD-type financial institution. Things.

Further, such a system of the present invention has a GD
It can also be used when a financial institution trades derivatives products directly with a customer. That is, the customer terminal 50
The sales representative terminal 400 of the GD type financial institution is connected to the transaction system 100 of the GD type financial institution via a network or the like.

The GD-type financial institution or the like has in advance creditworthiness (including a rating) of a customer such as a GD-type financial institution or a CD-type financial institution.
It is preferable to enter into a contract for using the derivative trading system with a customer or a CD-type financial institution, etc., taking into consideration the suitability of the derivative transaction system. In other words, CD financial institutions are also customers for GD financial institutions. And exchanged a usage contract
ID (Identifie) for using the derivative trading system to customers such as GD financial institutions and CD financial institutions
r) and a password. The ID is for identifying a customer. The ID is preferably provided by a GD-type financial institution or the like and recorded on paper or a recording medium and mailed to the customer, but may be transmitted via the network 700 as electronic data. Password is GD financial institution customer or CD
It is preferably selected by a financial institution or the like. The ID and password of a customer such as a GD-type financial institution are preferably stored by the server 130, and the ID and password of a customer such as a CD-type financial institution are preferably stored by the server 120. GD regarding the use of derivative trading systems
The type financial institution or the like may collect money (pay) from the customer or may not collect money (free). Further, it is preferable that the GD-type financial institution or the like exchanges a decision to approve or not permit the transaction of the derivative product, in consideration of the financial contents, performance trends, and transaction history of the customer of the GD-type financial institution and the like. For example, a customer of an GD financial institution or the like who has acquired an ID and a password may not be able to execute a derivative product if the approval is not approved.

The transaction system 200 includes a trader terminal 210 used by a trader such as a CD-type financial institution and a salesperson terminal 220 used by a salesperson such as a CD-type financial institution. The trader terminal 210 and the sales representative terminal 220 store an input device (for example, a keyboard, a mouse, a pen input, a touch panel, etc.) for receiving an input from a user, an arithmetic device (for example, a CPU, etc.) for executing a program and the like, and data. Storage devices (eg, RAM, hard disk, CD)
-R, DVD-R, etc.), a display device (eg, CRT, liquid crystal display, plasma display, EL display, etc.) and a communication device (eg, modem, etc.). In addition, the trader terminal 210 and the salesperson terminal 220 include a web browser, and are executed by a computing device. The trader terminal 210 and the sales representative terminal 220 may be personal computers, mobile phones, or personal digital assistants.

The CD-type financial institution and the like have the creditworthiness (including the rating) of the CD-type financial institution in advance, like the GD-type financial institution.
It is preferable to exchange contracts for the use of the derivative transaction system with customers such as CD-type financial institutions, taking into account the suitability of the derivative transaction system. Then, an ID (Identifier) and a password for using the derivative transaction system are given to a customer such as a CD-type financial institution that has exchanged a use contract. The password is preferably selected by a customer such as a CD-type financial institution. The ID and password of a customer such as a CD-type financial institution are preferably stored by the server 120. Further, it is preferable that the CD-type financial institution or the like exchanges a decision to approve or not permit the transaction of the derivative product, taking into account the financial contents, performance trends and transaction history of the customer of the CD-type financial institution and the like. It is preferable that the CD-type financial institution or the like exchanges a decision to approve whether or not to transact with the derivatives product, taking into account the financial contents, performance trends, and transaction history of the customer of the CD-type financial institution and the like. Even customers such as CD-type financial institutions that have acquired IDs and passwords may not be able to execute their derivatives products if the approval is not approved. However, a customer such as a CD-type financial institution can perform processing other than the contract (for example, information provision processing, consulting processing, proposal / indication processing, etc.) even when the approval is not approved.

Each of the customer terminal 300, the salesperson terminal 400, and the customer terminal 500 includes an input device, an arithmetic operation, a storage device, a display device, and a communication device. Further, the customer terminal 300, the salesperson terminal 400, and the customer terminal 500 include a web browser and are executed by an arithmetic device. Customer terminal 30
0 may be a personal computer, a mobile phone, or a portable information terminal.

[0024] Derivatives refer to transactions such as swaps, options, FRAs or combinations thereof, and derivatives products refer to products that are the subject of derivatives. A financial institution is an institution whose main business is to conduct financial transactions between a fund supplier and a consumer, such as the Bank of Japan as a central bank, a city bank as a bank, a regional bank, Long-term credit banks, member banks of the Second Regional Bank Association, trust banks, credit unions as credit banks for small and medium-sized enterprises, credit unions, the Central Bank of Commerce and Industry, agricultural cooperatives as agriculture, forestry and fisheries-related safes, agricultural cooperatives, fishing cooperatives, and the Norinchukin Bank, Life insurance companies, non-life insurance companies as insurance companies,
Securities companies in the securities market, securities finance companies, money brokers that mediate call transactions, money lenders that discount and lend mainly with their own funds, Development Bank of Japan as a government-related financial institution, Japan Bank for International Cooperation, National Life Finance Public corporations correspond. What is a Global Dealer (GD) financial institution?
A financial institution that deals in major financial markets and in-house complex derivatives. In other words, GD-type financial institutions perform pricing operations in interbanks, develop new derivatives, conduct pricing operations for customers, conduct derivative transactions with a complex mechanism, conduct derivative transactions on a regular basis, And to hedge your ALM position. Dealer-to-customer (CD) financial institution has its own ALM
A financial institution that hedges positions and conducts customer transactions but does not take large positions. In other words, CD-type financial institutions perform pricing operations for customers, conduct derivative transactions with a complicated mechanism, conduct derivative transactions on a regular basis, and conduct generally established derivative transactions,
Hedge your ALM position. Indication rates and indication prices (hereinafter referred to as
"Indication rate etc." ) Means a tentative rate or price that is presented in response to an inquiry but cannot be filled, i.e., a rate or price with a limited offer.
A firm rate or firm price (hereinafter referred to as “firm rate, etc.”) means that once an order or rate is offered, the orderer actually trades until the offeror cancels or changes it. A rate or price that can be executed or agreed upon, that is, a rate or price for executing a contract.

FIG. 17 shows an example of a contract system for a transaction between a customer, a CD financial institution, and a GD financial institution. Here, an example of a system in which a contract between a customer and a CD-type financial institution for a derivative product provided by a GD-type financial institution and a process in which the CD-type financial institution processes a contract for a cover for the derivative-type product transaction is shown. Note that this processing is
The two contracts do not have to be exactly the same in time, but also include the time difference that a CD-type financial institution deserves for a cover transaction for a derivative product transaction.

Reference numeral 1701 denotes a customer, 1702 denotes a CD-type financial institution in which the customer requests a derivative product transaction, and 1703 denotes a CD-type financial institution.
GD trading derivatives products with CD financial institutions
Type financial institution. Here, as an example of the transaction, 17
01 and 1702, derivative transaction 1709
Is performed, and between 1702 and 1703, for example,
A cover transaction covering 1709 derivatives transactions is processed. CD type financial institution 1702
In order to check whether or not the transaction conditions of the derivatives product provided to the customer are appropriate, the approval processing system 1704 of the CD-type financial institution checks the creditworthiness of the customer 1701 and the like. Similarly, the GD-type financial institution 1703 also uses the GD-type financial institution's approval processing system 1705 to check whether the transaction conditions of derivative products and cover transactions provided to the CD-type financial institution are appropriate.・ Check the line (transaction volume according to credit). The check unit 1706, which inputs the results of the approval processing systems 1704 and 1705, receives the result of approval / disapproval of the transaction by the approval processing. Moreover,
For example, if the results of both transactions are acceptable, the procedure of contracts 1707 and 1708 is executed. Also, for example, if the transaction of the derivative transaction 1709 is not possible, the customer and the CD
Perform the process of redoing the transaction procedure with the financial institution. If the cover transaction 1710 is not possible,
It will be a procedure to redo a cover transaction between a CD financial institution and a GD financial institution. Furthermore, if the terms and conditions of the derivatives products provided by the GD financial institution to the CD financial institutions are not possible, the transactions of the derivatives between the CD financial institutions and the GD financial institutions and the customer and the CD financial institutions Or a process of redistributing conditions within a predetermined condition described later is performed.

The processing for realizing the derivative transaction according to the embodiment of the present invention includes, for example, information provision processing, consulting processing, proposal / indication processing, transaction contract processing, post-office management support processing, post-risk management support Processing and claim receiving processing. The order of each process is preferably arbitrarily selectable by the customer, but the order of at least two processes of all processes (for example, proposal / indication process and deal process, deal process and post office management support) Process etc.) may be performed continuously. Each process is preferably executed by software (program), but may be executed by hardware. It is preferable that the program can be transmitted over a network and can be recorded on a recording medium (CD-ROM, DVD-ROM, hard disk, or the like).

When a customer who transacts with a CD-type financial institution or the like wants to use the derivative trading system or hedge a risk, the customer is informed that he / she wants to use the derivative trading system (hereinafter referred to as “use request”). Instruct terminal 300. The customer terminal 300 transmits the use request to the server 120 via the network 700. When the server 120 receives the use request, the server 120
Transmits a web page (home page) for using a derivative transaction to the customer terminal 300 via the network 700.

FIG. 2 shows a configuration diagram of a web page for starting use of the derivative transaction system of the present invention.
Web to get started with derivatives trading system
The page includes the name of a CD-type financial institution, a member login field for receiving the ID (Identifier) and password for using the derivative transaction system, information provision processing, consulting processing, proposal / indication processing , Transaction processing, post-office management support processing,
A site map column for reading a web page for starting post-mortem risk management support processing, claim acceptance processing, and the like is provided.

The customer inputs an ID and a password to the customer terminal 300. The customer terminal 300 stores the ID and the password,
The data is transmitted to the server 120 via the network 700. The server 120 verifies whether the ID and the password are correct, that is, determines whether the password corresponding to the input ID matches the password corresponding to the previously stored ID, and determines whether the ID and the password are correct. If (matching), grant permission to use the derivative trading system and ID
And if the password is incorrect (if they do not match)
Refuse to use the derivative trading system. When the server 120 refuses the use of the derivative transaction system, the server 120 transmits to the customer terminal 300 that the use of the derivative transaction system is rejected or that the password is incorrect. The customer terminal 300 displays on the display screen that the derivative transaction system is rejected or that the password is incorrect.

In the information providing process according to the embodiment of the present invention,
The information acquisition terminal 110 receives exchange rate information (dollar / yen rate, euro / yen rate, etc.) and interest rate information (10-year futures price, dollar interest rate futures price, long-term prime rate, short-term prime rate, TIBOR, LIBOR, JGB (Japanese Government) B
ond)), stock information (Nikkei Stock Average, Dow Average Stock Price,
A NASDAQ average stock price, etc.) is acquired from the information organization 610 via the network 700, displayed on the display screen, and stored in the server 120. When the customer wants to receive the information, the customer terminal 300 is instructed to receive the information (hereinafter referred to as “information provision request”). The customer terminal 300 transmits the information provision request to the server 120 via the network 700. When the server 120 receives the information provision request, the server 120 transmits a web page on which various information is posted to the customer terminal 300.
The customer terminal 300 displays a web page on which various information is posted on a display screen. When a trader or a salesperson of a CD-type financial institution wants to receive information, the trader or the salesperson can use the trader terminal 210 or the salesperson terminal 220.
Can be used to provide information.

Hereinafter, a consultation according to an embodiment of the present invention will be described.
The switching process will be described with reference to FIGS. FIG.
Shows a processing flow diagram of the consulting process of the present invention.
You. If the customer wants consulting,
Has requested consulting (hereinafter referred to as consulting)
Request). To the customer terminal 300.
The customer terminal 300 sends the consulting request to the network.
Via the network 700 to the server 120. server
If 120 receives a consulting request,
Web page to start consulting
Is transmitted to the customer terminal 300. Customer terminal 300
Displays a web page to start consulting
Display screen.

FIG. 4 shows a configuration diagram of a web page for starting consulting of the present invention. The web page for starting consulting has a reception column for receiving input or selection of details of assets and liabilities, and a reception column for receiving an instruction to save the details of input assets and liabilities. . Assets and liabilities are information necessary for the generation or selection of derivatives products.
Deposit amounts and currencies, foreign exchange transaction amounts and currencies, and exports and imports are applicable.

The customer inputs assets, liabilities, and the like to the customer terminal 300. The customer terminal 300 transmits data such as assets and liabilities to the server 120 via the network 700. When the server 120 receives the data such as the assets and liabilities, the trader terminal 140 calculates the profit and loss based on the data such as the assets and liabilities, and calculates the profit and loss trial balance and the profit and loss estimation graph (hereinafter, “the profit and loss estimation result”). ), And stores the profit and loss calculation result in the server 120.
Although data such as assets and liabilities are transmitted from the server 120 to the trader terminal 140, it is preferable that personal information of customers is not transmitted. As a result, the CD-type financial institution or the like can prevent leakage of personal information of customers who transact with the CD-type financial institution or the like to outside (for example, GD-type financial institution or the like). The server 120 transmits a web page on which the result of the profit and loss calculation is posted to the customer terminal 300 through the network 700. The customer terminal 300 displays on the display screen a web page on which the results of the profit and loss calculation are posted.

FIG. 5 shows a configuration diagram of a web page on which the results of the profit and loss estimation of the present invention are published. In the web page on which the results of the profit and loss estimation are posted, in addition to the results of the income and loss estimations, comments on the results of the profit and loss estimation (for example, risk), a request to hedge risk, or a request to introduce derivatives products (hereinafter “Products”) And a reception column for receiving an instruction of “referral request”).

When the customer wants to hedge risk or introduce derivatives products, the customer terminal 300 is instructed to make a product introduction request. The customer terminal 300 sends a product introduction request to the server 1 via the network 700.
20. When the server 120 receives the product introduction request, the trader terminal 140 determines a risk based on data such as assets and liabilities, generates or selects one or more derivative products, and sends the derivative product introduction to the server. 120. Derivatives products may be generated or selected by the trader terminal 140 based on mathematical models or past data, or by a consultant who has looked at the details of assets and liabilities displayed on the display screen by the trader terminal 140 and the results of profit and loss estimation. May be generated or selected. The server 120 transmits the derivatives product introduction through the network 700.
Send to customer terminal 300.

FIG. 6 shows a configuration diagram of a web page on which the derivatives of the present invention are published. The web page on which the derivatives product is posted contains the name of the derivatives product, an outline of the product, a reception field for receiving or entering the details of the desired derivatives product, and the storage of the details of the entered or selected derivatives product. A request to receive instructions and a request to obtain a profit / loss estimation result after reflecting the derivatives product
That. ) Is provided. The description of the derivatives product refers to, for example, the name, amount, currency, date, period, transaction side (sell / buy), rate / price, etc. of the derivatives product.

If the customer wishes to obtain the results of the profit and loss estimation after reflecting the derivatives products, the information necessary for re-estimation of profits and losses, that is, the details of the derivatives products are stored in the customer terminal 300.
To enter. If the customer wants to save the details of the derivative's product, it can be stored in the recording medium of the customer terminal 300. The customer terminal 300 transmits the detailed data of the derivatives product to the server 120 via the network 700. When the server 120 receives the detailed data of the derivative product, the trader terminal 140 uses the detailed data and data such as assets and liabilities. The profit / loss after reflecting the derivatives product is calculated, edited into a profit / loss trial balance and a profit / loss trial calculation graph (hereinafter referred to as “result of profit / loss trial calculation”), and stored in the server 120. The server 120 transmits the re-profit estimation result to the customer terminal 300 via the network 700. The customer terminal 300 displays the result of the profit and loss trial calculation on the display screen.

FIG. 7 shows a configuration diagram of a web page on which the results of the trial calculation of profit and loss of the present invention are published. On the web page on which the results of the resumption of profit and loss are posted, in addition to the results of the resumption of profit and loss, the reception column for receiving an instruction to request a proposal (hereinafter referred to as a "request for proposal") and an indication And a reception field for receiving an instruction to the effect (hereinafter, referred to as “indication request”).

The customer is a CD-type financial institution (GD-type financial institution, etc.)
If the customer wants to be introduced to all the derivatives products handled by the customer terminal 300, the customer terminal 300 informs the customer that he wants to be introduced to the derivatives products (hereinafter, referred to as "handling product introduction request").
To instruct. The customer terminal 300 issues a handling product introduction request,
The data is transmitted to the server 120 via the network 700.
When the server 120 receives the handling product introduction request, the server 120 reads the data of the derivative products for each risk stored in advance and transmits the data to the customer terminal 300 via the network 700. Customer terminal 300
Displays derivatives products for each risk on the display screen. Derivatives products for each risk are, for example, interest rate swaps and interest rate options for interest rate rise / fall risks and coupon swaps for yen appreciation / yen depreciation risks. In addition, the derivatives products we handle are
For example, include interest rate swaps, caps, floors, European swaptions, FRA, currency swaps, irregular cash flows including coupon swaps, credit derivatives, etc., and combinations thereof.

Derivatives products corresponding to each of these risks are registered in a database in advance. Furthermore, it is possible to connect to a salesperson terminal or a trader terminal and directly receive a consultant.

When a salesperson such as a CD-type financial institution conducts a business with a customer in person, the salesperson can use the salesperson terminal 220 to receive consultation on behalf of the customer. Then, the salesperson enters the salesperson terminal 22
It is possible to negotiate face-to-face with the customer by seeing the profit and loss calculation result and the derivatives product introduction displayed on the display screen.

The proposal / indication process according to the embodiment of the present invention will be described below with reference to FIGS. FIG. 8 shows a processing flow chart of the proposal processing of the present invention. Customer's plan (derivatives product details)
When the customer wants to receive the proposal, the customer instructs the customer terminal 300 to request the proposal. The customer terminal 300 transmits the proposal request to the server 120 via the network 700. When the server 120 receives the proposal request, the server 120 reads out the web page for starting the proposal generation stored in advance and reads the web page from the network 7.
00 to the customer terminal 300. Customer terminal 3
00 receives a web page for starting proposal generation and displays it on the display screen.

FIG. 9 shows a configuration diagram of a web page for starting the generation of a proposal according to the present invention. The web page for starting the proposal generation has a reception field for receiving instructions on the conditions required for proposal creation and an instruction for saving input or selection items (conditions required for proposal creation). , A reception column for receiving an instruction for reading out the stored details of the planned action, a reception column for receiving an instruction for displaying a proposal, and a reception column for receiving an instruction for obtaining an indication rate and the like. And a reception column. That is, a CD-type financial institution or the like requests a customer to input or select conditions necessary for preparing a proposal. The conditions necessary for preparing a proposal are, for example,
Refers to product name, price, currency, due date, period, trading side (sell or buy), rate, price, etc.

A web for the customer to start creating a proposal
Indicate on the page the conditions required to create a proposal. The client terminal 300 transmits the conditions necessary for creating a proposal to the server 120 via the network. When the server 120 receives the conditions necessary for preparing a proposal, the trader terminal 140 prepares a proposal based on the conditions required for preparing a proposal and stores the proposal in the server name 120. Server 120
Will send the web page on which the proposal is published to Network 7
00 to the customer terminal 300. Customer terminal 3
00 receives the web page on which the proposal is posted and displays it on the display screen.

FIG. 10 shows a we with a proposal of the present invention.
Fig. 3 shows a configuration diagram of page b. The web page on which the proposal is published includes, for example, the name of the customer, the name of the CD-type financial institution (branch or division), the description of the transaction contents (description of derivatives products, etc.), the results of profit and loss calculation, It has a column for receiving an explanation of risks arising from transactions, etc.), a specification of an activity schedule, and a reception column for receiving a print instruction.

FIG. 11 shows a processing flow chart of the indication processing of the present invention. When the customer wants to obtain the indication rate or the like of the planned activity statement, the customer instructs the customer terminal 300 to issue an indication request. The customer may indicate the indication request multiple times. The customer terminal 300 sends the indication request to the server 120 via the network 700. When the server 120 receives the indication request, the server 120 reads a web page for starting the indication stored in advance, and transmits the web page to the customer terminal 300 via the network.

FIG. 12 shows a configuration diagram of a web page for starting the indication of the present invention. The web page for starting the indication has a reception column for receiving conditions for obtaining the indication rate, etc., a reception column for receiving an instruction to save an input or selection item, and a saved effort. It has a reception column for receiving an instruction to read out a schedule statement, a reception column for receiving an instruction for displaying a proposal, and a reception column for receiving an instruction to acquire an indication rate or the like. That is, the CD financial institution or the like requests the customer to input or select conditions for obtaining an indication rate or the like. The conditions for acquiring the indication rate and the like refer to, for example, the name of the product, the amount, the currency, the date, the period, the transaction side (sell or buy side), the rate and the price, and the like.

A customer inputs or selects conditions for obtaining an indication rate or the like in the customer terminal 300. The customer terminal 300 transmits a condition for acquiring an indication rate or the like to the server 120 via the network 700. When the server 120 receives the condition for obtaining the indication rate or the like, the information obtaining terminal 110 obtains an index related to the derivative product from the information agency 610 through the network 700, and the trader terminal 140 , The index is received from the information acquisition terminal 110, the indication rate and the like are priced, and stored in the server 120. The trader terminal 140 performs pricing such as an indication rate by using the fact that the server 120 has received the indication request as a key, and
Alternatively, the trader terminal 140 may perform pricing every predetermined time (for example, several seconds or several minutes) and store the price in the server 120. When the server 120 receives the indication request, the customer terminal 300 May be sent. Alternatively, even if there is no indication request from the customer terminal 300, the server 120 may transmit an indication rate or the like to the customer terminal 300 at predetermined time intervals. The underlying indicators of derivatives products include exchange rates (dollar / yen rate, euro / yen rate, etc.) and interest rate / price (cash price, interest rate futures price, long-term prime rate, short-term prime rate, swap rate, bond price) , Bond futures prices, volatility, etc.).

In the pricing, a theoretical value is calculated by applying an index obtained from the information agency 610 to a pricing model, and a closing cost, a credit spread, and other spreads of a GD-type financial institution or the like are added to the theoretical value (or This is performed by calculating a rate or a price. The credit spread refers to a spread (margin) determined according to the credit (credit power) of a business partner. In general, the spread is small if the credit is large, and the spread is large if the credit is small. Closing costs are the costs required to close a position on an existing derivatives product. Therefore, it is calculated based on the type of derivative products, the amount of money, the size of the notional amount, and various risks (for example, market risk, liquidity risk, etc.). Trader terminal 14
0 may calculate the theoretical value, calculate the closing cost or credit spread, and perform all of the addition (or subtraction), or may calculate only the theoretical value and add (or subtract) the closing cost or the credit spread. May go. In the latter case, it is preferable that a trader such as a GD-type financial institution calculates a closing cost and a credit spread and inputs them to the trader terminal 140.
In this case, the trader terminal 140 adds (or subtracts) the spread to the theoretical value, and stores the rate or price to which the spread has been added (or subtracted) in the server 120. Alternatively, the trader terminal 140 may transmit the theoretical value and the spread to the server 120, and the server 120 may add (or subtract) the logic and the spread.

Even when a CD-type financial institution conducts derivative transactions with its customers, the closing cost and credit spread of the CD-type financial institution are added to the indication rate and the like presented by the GD-type financial institution ( Or subtraction). Therefore, the closing costs and credit spreads of CD-type financial institutions are
0, if either one of the closing cost and credit spread of the CD-type financial institution is registered in advance in the server 120, any of the closing cost and credit spread of the CD-type financial institution, etc. Will be described below separately for the case where the server is not registered in the server 120.

When the closing cost and the credit spread of the CD-type financial institution are registered in the server 120 in advance, the server 120
CD to indication rate etc. stored by
Through the network 700, adding (or subtracting) the closing cost and the credit spread of the financial institution or the like, and displaying the indication rate or the like to which the closing cost and the credit spread are added (or subtracted). Send to customer terminal 300. The customer terminal 300 receives the web page on which the indication rate or the like is posted and displays the web page on the display screen.

If the closing cost of the CD-type financial institution is not registered in the server 120 and the credit spread of the CD-type financial institution is registered in the server 120 in advance, the server 120 is stored by the trader terminal 140. Indication rate etc. were posted
The web page is transmitted to the trader terminal 210 via the network 700. The trader terminal 210 receives the web page on which the indication rate and the like are posted, and displays the web page on the display screen. Traders of CD-type financial institutions, etc.
Referring to page b, it instructs trader terminal 210 about the closing cost of a CD-type financial institution or the like. In addition, a trader such as a CD-type financial institution, instead of indicating the closing cost of a CD-type financial institution, indicates an indication rate or the like to which the closing cost of the CD-type financial institution is added (or subtracted). May be. The trader terminal 210 transmits the closing cost of a trader such as a CD-type financial institution through the network 700 to the server 1.
20. When the server 120 receives the closing cost of a CD-type financial institution, etc., the trader terminal 14
To the indication rate, etc. stored by 0
Adds (or subtracts) the closing costs and credit spreads of CD-type financial institutions, etc., and adds or subtracts the closing costs and credit spreads of CD-type financial institutions, etc.
The web page on which the rates etc. are posted
0 to the customer terminal 300. Customer terminal 30
0 is the web where the indication rate etc. were posted
Receive the page and display it on the display screen. It should be noted that the trader terminal 210 uses an indication obtained by adding (or subtracting) a credit spread of a CD-type financial institution or the like instead of the web page on which the indication rate or the like stored in the server 120 by the trader terminal 140 is posted.・ Receive a web page on which rates are posted,
It may be displayed on the display screen.

When neither the closing cost of the CD-type financial institution nor the credit spread is registered in the server 120, the server 120 publishes the indication rate and the like stored by the trader terminal 140. The web page is transmitted to the trader terminal 210 via the network 700. The trader terminal 210 receives the web page on which the indication rate and the like are posted, and displays the web page on the display screen. A trader such as a CD-type financial institution refers to a web page on which an indication rate or the like is posted and instructs the trader terminal 210 on a closing cost of the CD-type financial institution or the like. In addition, instead of instructing the closing costs of CD-type financial institutions, traders such as CD-type financial institutions
The indication rate or the like to which the closing cost of the financial institution or the like has been added (or subtracted) may be indicated. The trader terminal 210 compares the closing cost of a trader such as a CD-type financial institution with the network 700.
Through to the server 120. Server 120 is a CD
If you receive the closing cost of a financial institution,
The closing cost of a CD-type financial institution or the like is added (or subtracted) to the indication rate or the like stored by the trader terminal 140, and the indication of the closing cost of the CD-type financial institution or the like is added (or subtracted). A web page on which a rate or the like is posted is transmitted to the sales representative terminal 220 via the network 700. The sales representative terminal 220 receives the web page on which the indication rate and the like are posted, and displays the web page on the display screen. A sales representative of a CD financial institution or the like refers to a web page on which an indication rate or the like is posted, and instructs a credit spread of the CD financial institution or the like. It should be noted that even if a sales person such as a CD-type financial institution designates an indication rate or the like to which a credit spread of a CD-type financial institution is added (or subtracted) instead of the credit spread of a CD-type financial institution. Good. The salesperson terminal 220 transmits the credit spread of the CD-type financial institution or the like to the server 120 via the network 700. Server 120 adds (or subtracts) the closing cost of a CD-type financial institution, etc.
The credit spread of a CD-type financial institution, etc. is added (or subtracted) to the indicated indication rate, etc., and the closing rate of the CD-type financial institution, etc., and the indication rate, etc., to which the credit spread is added (or subtracted) are calculated. The posted web page is sent to the network 700
Through to the customer terminal 300. Customer terminal 300
Receives the web page on which the indication rate and the like are posted and displays it on the display screen.

The indication rate and the like displayed on the display screen by the trader terminal 210, the indication rate and the like displayed on the display screen by the sales representative terminal 220, and the indication rate and the like displayed on the display screen by the customer terminal 300 are shown. When the closing cost and the credit spread are added, the relationship is such as (the indication rate displayed on the display screen by the trader terminal 210) <(the indication rate displayed on the display screen by the salesperson terminal 220) < When the (indication rate or the like displayed on the display screen by the customer terminal 300) is established and the closing cost and the credit spread are subtracted, (the indication rate or the like displayed on the display screen by the trader terminal 210)> ( The sales representative terminal 220 displays Indication rate, etc.) to be displayed> (indication rate, such as the customer terminal 300 is displayed on the display screen) is satisfied.

In the following, when the settlement of the approval processing system input to the check unit 1706 in FIG. 17 is not completed, when the transaction conditions are not recognized as a result of the settlement, or when the indication is agreed, the market rate changes significantly. In some cases, transaction conditions must be changed.

However, in order to change the transaction conditions, it is necessary to again present the conditions to the customer and obtain an agreement. Such a procedure has a problem in that it is inconvenient for customers and CD-type financial institutions. Therefore, contract conditions that can be absorbed by CD-type financial institutions and GD-type financial institutions, mainly price fluctuation areas, are set, and within this range, GD-type financial institutions or CD-type financial institutions absorb changes in rates and prices. However, it is characterized by redistributing the profit margins of GD-type financial institutions and CD-type financial institutions so as to present the initial conditions to customers.

This can also be applied to the redistribution of the profit margin between the sales department and the trader department in the GD type financial institution and the CD type financial institution.

FIG. 18 shows an example of redistribution of the profit margin. Here, the estimated price A before the margin is included and the contracted price B before the margin is included, taking into account the profit margin of the GD-type financial institution's translator and salesperson, and the CD-type financial institution's trader and salesperson. If the customer agrees on the price and then recalculates the contract price, if the market price changes require a different price than the estimated price, we will re-adjust each margin. In this method, if the difference between the contract price B and the estimated price A is within a predetermined range, the distribution of the profit margin is readjusted within the range given to each profit margin in advance. For example, in re-adjustment of the profit margin distribution, a new profit margin is input within the range of the profit margin previously provided from each terminal of the trader ゛ or the sales representative.

In another method, the contract price B
The margin to be redistributed is set according to the difference between the price and the estimated price A, and redistributed accordingly. Further, a redistribution ratio is set in advance for each margin, and redistribution is performed according to the difference between B and A.

In FIG. 18, the customer-supplied estimated price CP-A, which is the estimated price presented to the customer at the time of estimation, was 1225, but the price calculated at the time of execution was increased by 75 at the execution price B due to fluctuations in the market and the like. However, if the profit margin is not changed and the margin is not changed, the customer-supplied contract amount CP-B becomes 1300 and the estimation process must be started again.
However, by modifying the profit margin MP: (W + X + Y + Z), it is possible to maintain the offer price CP-B to the customer at 1225 if the contract price B fluctuates and remains within the predetermined range. It is possible. In FIG. 18, contract processing is performed with the customer by changing the margins of W, X, Y, and Z so that the customer-supplied contract amount CP-B is the same as the customer-supplied estimated amount CP-A at the time of estimation. It becomes possible.

FIG. 19 shows an example of a processing method of margin redistribution. In the figure, if the difference between the estimated price A and the contract price B is within a predetermined range, the difference is redistributed equally to change the profit margin. Here, the division is made equally, but weighted in advance, for example, 1: 2: 4:
It is also possible to redistribute at a rate of 8. In the above example, CP-A and CP-B were set to be equal.However, if the difference between the estimated time and the execution time between the customer and the CD-type financial institution is within a predetermined range, the CP-A By making a contract or the like that A and CP-B may be different, it is possible to present the customer with a different amount of CP-B from CP-A and process the contract processing. In the figure, the margin is set in advance or the range of the margin is set in advance according to the difference between the estimated price A and the contract price B. In the figure, processing is performed in which W, X, Y, and Z set at the time of estimation are added and subtracted at a predetermined ratio by a margin, and are redistributed.

FIG. 20 shows a processing flowchart in the case where the processing is changed depending on the comparison between the estimated price A and the contract price B depending on whether they match or not. In 2003
A and B are compared, and if they match, in 2004, CP-A (or CP-B) is presented to the customer as a contract price and contract processing is performed. If they do not match, in 2005 it is determined whether the difference between A and B is within or outside a predetermined margin redistribution threshold.
In the example of this flowchart, within the margin, 2006
In, redistribution of profit margin is performed. In addition, the customer-supplied contract amount CP-B is set to the same amount as the customer-supplied estimate CP-A in the judgment section of 2007.
When it becomes, it is presented to the customer in 2008 and contract processing is performed. If PC-A does not match the customer-supplied contract amount CP-B, re-estimation processing is performed by re-estimation processing 2009. In addition, if it is not within the predetermined range in 2005, the fluctuation cannot be completely absorbed by the adjustment of the redistribution of the margin, so the estimation processing is returned to the estimation processing again and the estimation processing is advanced.

It should be noted that some customers may accept the changed customer-supplied contract amount PC-B.
It is also possible to execute the re-estimation process after obtaining the customer's judgment.

FIG. 21 shows an example of the redistribution processing 2006 in more detail. According to the difference between the estimated price A and the contract price B, for example, four types of processing are performed. A and B at 2100
The processing is divided into 2101 and 2102 depending on whether the difference between the two is positive or negative. In 2103, the profit margin MP is redistributed as described so that A = B, and the customer presented amount is presented at the same amount as the customer presented estimated amount. In 2104, each profit margin is redistributed so that the customer-supplied estimated amount PC-A is discounted, and the contract processing is advanced with the discounted customer-supplied promised amount PC-B '. In 2105, even if the profit margin MP becomes 0, the MP is reduced, and the customer-supplied contracted amount PC-B is matched with or close to the customer-supplied estimated amount PC-A, and presented to the customer at 2110, or This is to process whether to make an estimate. At 2106, the customer-supplied promised amount PC-B is redistributed so that MP is negative so as to be the same as or close to PC-A. That is, each burden is redistributed.

Note that the trader terminal 210 or the salesperson terminal 220 may calculate the closing cost or the credit spread without the help of the trader or the salesperson. Further, even when the closing cost and the credit spread of the CD-type financial institution are registered in the server 120 in advance, the trader or the salesperson of the CD-type financial institution uses the trader terminal 210 or the salesperson terminal 220,
The closing cost and credit spread may be manually instructed. In this case, the server 120 displays a web page on which the closing rate of the CD-type financial institution and the like and the indication rate before the credit spread is added (or subtracted) are displayed on the trader terminal 21.
It is preferable to transmit to the sales representative terminal 220 or 0. Also,
Instead of the server 120, the trader terminal 210 or the salesperson terminal 22 may add (or subtract) the closing cost or the credit spread of the CD-type financial institution or the like to the indication rate or the like.

FIG. 13 shows the indication of the present invention.
FIG. 2 shows a configuration diagram of a web page on which a rate and the like are posted. The web page with the indication rate etc.
In addition to the indication rate and the like, a reception field for receiving an instruction to request acquisition of a firmware rate and the like (hereinafter, referred to as “firmware request”) is provided.

When a sales person such as a CD-type financial institution conducts business with a customer face-to-face, the sales person uses the sales person terminal 220 on behalf of the customer to present a proposal and receive an indication. Is possible.

Hereinafter, the contract processing according to the embodiment of the present invention will be described with reference to FIGS. FIG.
FIG. 4 shows a processing flow chart of the transaction contract processing of the present invention. When the customer wants to execute the derivative transaction, the customer terminal 300 is instructed to the effect that the customer wants to execute the transaction (hereinafter, referred to as “contract information request”). Customer terminal 30
0 sends a deal guidance request to server 120 via network 700. When the server 120 receives the contract guide request, the server 120 reads out a web page for pre-stored contracts and transmits the web page to the customer terminal 300 via the network 700. In the case of indication processing or the like, when the customer has entered a statement of a planned action, a web page for executing a transaction preferably has the statement of a planned action. If the customer has not entered the scheduled action statement, it is preferable to provide a reception page for receiving the scheduled action statement on a web page for executing a transaction. The flow from when the customer terminal 300 transmits the firmware request to the server 120 to when the customer terminal 300 receives data (web page) such as the firmware rate is as described above. The customer terminal 300 transmits the data (indication rate, etc.) (web page)
Is the same as the flow up to the reception of the. The deal guidance request may or may not include a firm request. Further, the customer may instruct the contract guide request and / or the firmware request a plurality of times. Note that the indication rate and the like and the firmware rate and the like may be the same or different. Also, it is preferable that the closing cost or credit spread added (or subtracted) to the indication rate or the like and the closing cost or credit spread added (or subtracted) to the firm rate or the like be the same, May be different.

When the server 120 receives the contract guide request, the server 120 determines whether or not a request has been exchanged between the CD-type financial institution and the customer and / or a CD-type financial institution and the like. It is preferable to judge the credit line of a financial institution or the like and limit the transaction commitment. Credit line refers to the maximum amount of credit provided by a financial institution to a business partner. That is, if the approval is not yet approved for the derivatives product related to the transaction agreement, the server 120
However, through the network 700, the trader terminal 14
0, the trader terminal 210, the sales representative terminal 220, and the customer terminal 300. Alternatively, if it is expected that the credit line will be exceeded when a derivative transaction relating to the transaction is executed, the server 120 transmits to the customer terminal 300 that the transaction cannot be executed, and informs the customer terminal 300 that the transaction cannot be executed. Or, through the network 700, the trader terminal 14
0 to the trader terminal 210 and the sales representative terminal 220. By the judgment of the credit line, the CD-type financial institution can judge whether or not the cover transaction with the GD-type financial institution is possible.

FIG. 15 shows a transaction for executing the transaction of the present invention.
Fig. 2 shows a configuration diagram of a web page. The web page for executing transactions is a receipt for receiving the agreement on the details of the planned action, the details of the planned action, a firm rate, etc., and a reception for receiving instructions from the customer about whether or not to execute the trade. Column. The web page for executing deals is
Further, it is preferable to provide a reception column for receiving input or selection of a reason for rejecting the contract when the customer rejects the contract. Before the customer specifies the contract, the customer terminal 3
00 is preferably displayed on the display screen a plurality of times on the display screen of a web page on which a description of the scheduled action of the derivative transaction related to the contract and an acceptance column for accepting an agreement on the content of the action scheduled statement are displayed. Thereby, it is possible to suppress execution of a derivative product different from the one intended by the customer.

When the customer refuses the transaction, the customer instructs the customer terminal 300 to reject the transaction. Further, it is preferable to input or select the reason why the customer refused to execute the transaction, the rate desired by the customer, and the like in the customer terminal 300. The customer terminal 300 transmits to the server 120 via the network 700 the fact that the contract has been rejected and the reason or desired rate. When the server 120 receives the rejection of the contract and the reason or the desired rate, etc., the server 120 transmits, via the network 700, a web page on which the rejection of the contract is performed and the reason or the desired rate. , To the trader terminal 210 and the sales representative terminal 220. Further, the trader terminal 14
Preferably, it is transmitted to 0. The trader terminal 210 and the sales representative terminal 220 receive the web page on which the refusal of the contract has been refused and the reason or the desired rate, and display the web page on the display screen. A trader who sees a web page on which a contract is refused and the reason or desired rate, etc., can review the closing cost. When the trader desires to change the closing cost, the trader inputs the changed closing cost to the trader terminal 210. In addition, traders,
Instead of the changed closing cost, a firm rate or the like obtained by adding (or subtracting) the changed closing cost may be input. Trader terminal 210
Sends the changed closing cost to the server 120 via the network 700. Server 12
If 0 receives the changed closing cost, the server 120 adds (or subtracts) the changed closing cost and credit spread to the firm rate or the like stored by the trader terminal 140.
Then, the data is transmitted to the customer terminal 220 through the network 700. The customer terminal 220 reports the changed firmware rate and the like. Display on the display screen.

When the customer contracts the transaction, the customer instructs the customer terminal 300 to execute the transaction (hereinafter, referred to as a "contract request"). The customer terminal 300 issues a contract request,
The data is transmitted to the server 120 via the network 700. When the server 120 receives the contract request, the server 120 transmits the farm rate and the like transmitted from the server 120 to the customer terminal 300 and the server 120
It is determined whether or not the contracted request rate and the like transmitted to the server match. Note that the firmware rate is transmitted from the transmission of the firmware rate to the customer terminal 220 to the reception of the contract request.
It may be determined whether there is a change in the rate or the like.

When the firmware rate and the like do not match the contract request rate and the like, the server 120 informs the network 70 that it is necessary to obtain the firmware rate and the like again.
0 to the customer terminal 300. Customer terminal 30
0 indicates on the display screen that the firmware rate needs to be acquired again. Note that the server 120 may transmit a new firmware rate instead of transmitting a request to acquire the firmware rate or the like again.
As a result, the mismatch between the firm rate and the like and the contracted rate and the like can be suppressed, and the certainty of the derivative transaction can be improved. Note that the contract request rate refers to a rate when the server 120 receives a contract request from the customer terminal 300, and the contract rate refers to a rate when the contract is established.

The server 120 or the customer terminal 300
However, when a predetermined time has elapsed since the server 120 transmitted the firmware rate or the like or the customer terminal 300 received the firmware rate or the like, the customer is required to acquire the firmware rate or the like again. Is preferred. That is, the server 120 or the customer terminal 300 determines that a predetermined time has elapsed since the server 120 transmitted the firmware rate or the like or the customer terminal 300 received the firmware rate or the like, and If the time has elapsed, it is preferable to reject the contract and display on the display screen that the customer terminal 300 needs to acquire the firmware rate and the like again. Preferably, the predetermined time is determined for each derivative product. For example, in the case of a derivative product related to a foreign exchange rate, the predetermined time is preferably about several minutes. For derivative products related to interest rates, the predetermined time is preferably on the order of tens of minutes. As a result, traders such as GD-type financial institutions, traders such as CD-type financial institutions, and salespeople such as CD-type financial institutions do not wait until after submitting a firm rate or the like to the customer and obtaining a contract request from the customer. This eliminates the need for monitoring at the deadline, and can reduce the monitoring burden on traders such as GD-type financial institutions, traders such as CD-type financial institutions, and sales staff such as CD-type financial institutions.

If the firm rate or the like matches the contract request rate or the like, the server 120 permits the contract. The server 120 notifies the network 7 that the transaction has been executed.
00 and the trader terminal 210 and the salesperson terminal 220
To the customer terminal 300 and the trader terminal 140. The trader terminal 210, the sales representative terminal 220, the customer terminal 300, and the trader terminal 140 display on the display screen that the transaction has been executed. That is, a derivative transaction between a CD financial institution or the like and a customer and a derivative transaction (cover transaction) between a GD financial institution or the like and a CD financial institution or the like are simultaneously executed. Derivative transactions between CD-type financial institutions and customers are based on firm /
Rate etc. (by the trader terminal 140 to the server 120
The contract rate is calculated by adding (or subtracting) the closing cost and credit spread of a CD-type financial institution to the firm rate stored in a CD-type financial institution. Derivative transactions between contracts are executed at firm rates and the like provided by GD-type financial institutions. Note that, after a contract for a derivative transaction between the CD-type financial institution and the customer is made, a derivative transaction between the GD-type financial institution and the CD-type financial institution may be performed.

When a sales person such as a CD-type financial institution conducts business with a customer face-to-face, it is possible for the sales person to use the sales person terminal 220 to receive a business contract on behalf of the customer.

Thereafter, the trading system 100 sends a contract or memorandum on the transaction through the network 700.
Preferably, it is transmitted to the customer terminal 300. Customer terminal 30
When 0 receives the contract or memorandum on the transaction, the customer terminal 300 displays the contract or memorandum on the transaction on the display screen. The contract and / or memorandum concerning the transaction
Includes the names of the parties to the transaction (the name of the CD-type financial institution and the name of the customer), the contract details, the firm rate, etc. If the customer agrees to the contract or memorandum of understanding about the transaction, the customer terminal 300 is informed of the agreement. Customer terminal 3
00 stores the contract or memorandum concerning the transaction and the agreement to the storage device, and stores the agreement to the server 120.
Send to In addition, according to the local legal system, authority guidance, and legal validity, the customer prints out the contract and / or memorandum, signs the paper, leaves one copy at hand, and You may pass the mail to a CD-type financial institution by mail or handing over.

As described above, when a contract of a derivative transaction is established between a CD-type financial institution or the like and a customer, the CD-type financial institution or the like bears a risk caused by the derivative transaction with the customer. Therefore, CG-type financial institutions, etc.
CD on derivative transactions between financial institutions and customers
It is preferable to conduct a cover transaction with a financial institution. That is,
The CD-type financial institution conducts derivative transactions opposite to the derivative transactions conducted between the CD-type financial institution and the customer at the firm rate, etc. presented by the GD-type financial institution to the CD-type financial institution. , With GD financial institutions. For example, if a CD financial institution or the like enters into a derivative transaction with a customer to swap a fixed interest rate to a floating interest rate, the CD Perform a cover transaction to swap to. As a result, the CD-type financial institution can offset the position created in the derivative transaction with the customer by the cover transaction with the GD-type financial institution, thereby hedging the market risk etc. in the derivative transaction with the customer be able to. When the server 120 permits the execution of the derivative transaction with the customer terminal 300, the server 120 establishes the contract of the derivative transaction between the CD-type financial institution and the GD-type financial institution.

There may be a plurality of GD financial institutions and the like.
In this case, the CD-type financial institution or the like can shop for the GD-type financial institution or the like performing the cover transaction. That is, a CD financial institution refers to the indication rates of a plurality of GD financial institutions, etc., and is provided by a GD financial institution that presents a relatively low (or high) indication rate, etc. Derivatives products to customers such as CD-type financial institutions.
In this case, the rate of derivatives products provided to customers such as CD-type financial institutions may be lowered (or increased),
The closing cost of a CD-type financial institution or the like may be higher (or lower). However, in this case, other GD-type financial institutions, etc., who did not execute derivative transactions simply by presenting the indication rate, etc., cannot acquire the closing cost or credit spread. Therefore, it is preferable that the other GD-type financial institution collects (charges) the fee for using the transaction system 100 of the GD-type financial institution from the CD-type financial institution. It is preferable that the usage fee is determined based on, for example, the number of uses, the usage time, the usage contract period, the contract amount, and the like.

Hereinafter, the post office management support processing according to the embodiment of the present invention will be described. The server 120 stores at least one of the committed statement information, the detailed transaction condition information, the P & R information, and the subsequent transaction information. Introduced detailed information refers to detailed information on committed (contracted) derivative transactions between CD-type financial institutions and customers, for example, trade names (eg, interest rate swaps, currency swaps, interest rate caps, etc.) , Currency (e.g., yen, dollar, etc.), notional principal, rate or price, side (e.g., fixed interest rate receipt, fixed interest rate payment, etc.), work date, work period and maturity date, customer identification information, etc. In the case where there is a plurality of pieces of committed detail information that desires addressed detail information, narrow down by specifying each product name, currency, side, approach date, approach period and expiration date, and customer identification information. A search may be performed. The transaction condition detailed information refers to detailed information of the committed (contracted) derivative transaction between the CD-type financial institution and the customer, such as a reference number for management of the CD-type financial institution, the product name, Includes the initiative date, the initiative period and maturity date, interest payments (eg, fixed interest rates, etc.), interest rates received (eg, floating interest rates, etc.), response dates, interest payment dates, etc. P & R information refers to information related to the payment or receipt of interest or premium for derivative transactions between CD-type financial institutions and customers, or the principal exchange schedule such as currency swaps. Includes period, interest payment, etc. Subsequent transaction information refers to information relating to subsequent transactions of derivatives transactions between a CD-type financial institution and a customer, such as a floating interest rate reset date,
Includes options exercise dates. And the server 120
Trading system 200 may be periodically (eg, once a month) or irregularly (eg, when the number of transactions reaches a predetermined number) or
(For example, trader terminal 210, salesperson terminal 220,
In response to a request from the customer terminal 300, etc., at least one of the committed statement information, the detailed transaction condition information, the P & R information, and the subsequent transaction information is transmitted through the network 700.
Trader terminal 210, salesperson terminal 220, customer terminal 3
00 or the like or to the terminal that transmitted the request.

Hereinafter, the post risk management support processing according to the embodiment of the present invention will be described. The server 120 stores the position information. The position information refers to information on the position of a derivative transaction of a customer such as a CD-type financial institution, and includes, for example, sensitivity and vega position for each item or each portfolio. And the server 12
0 is periodically or irregularly or in response to a request from the transaction system 200 or in response to a request from the customer terminal 300;
The position information is transmitted to the customer terminal 300 via the network 700. In addition, the server 120 periodically or irregularly, in response to a request from the transaction system 200 or in response to a request from the customer terminal 300, for each item or portfolio of derivatives products owned by a customer such as a CD-type financial institution. At least one of the current price information and the simulation information is transmitted to the customer terminal 300 via the network 700. The market price information includes the current transaction price in the market, the difference between the current paid amount and the received amount, and the like. If there are a plurality of pieces of market price information, the total of these may be calculated. The simulation information includes future profit and loss fluctuations, VAR, and the like with respect to a market change for each item or each portfolio. When creating the market price information, the server 120 transmits data related to the derivatives product to the house system 160. House system 16
0 acquires an index related to the derivative product from the information acquisition terminal 110 regularly, irregularly, or in response to a request from the house system 160, and calculates the market value of the derivative product based on the index. The house system 160 transmits the calculated market price information to the server 120. When creating simulation information, the server 1
20 sends data related to the derivatives product to the house system 160. The house system 160
Acquire an index related to the derivative product from the information acquisition terminal 110 regularly, irregularly, or in response to a request from the house system 160, and apply the index to an arithmetic model (for example, a yield curve model). do it,
Estimate future changes in indicators and calculate the future value and profit or loss of derivative products. House system 160
Transmits the calculated simulation information to the server 120
Send to

When a salesperson such as a GD-type financial institution conducts a derivative transaction with a customer such as a GD-type financial institution, as described above,
This is the same as the flow in which a CD-type financial institution conducts derivative transactions with a customer such as a CD-type financial institution. However, since there are no traders at branches such as GD financial institutions, etc., among the flows in which CD financial institutions etc. conduct derivative transactions with customers such as CD financial institutions, flows involving traders such as CD financial institutions Is omitted. Since a sales person such as a GD-type financial institution adds (or subtracts) a credit spread of a GD-type financial institution, a trader such as a GD-type financial institution uses the trader terminal 140 to add the credit spread to the theoretical value. The flow of (or subtraction) is omitted. Therefore, the server 130 corresponds to the server 120, the sales representative terminal 400 corresponds to the sales representative terminal 220, and the customer terminal 500 corresponds to the customer terminal 3
Corresponds to 00.

Note that a mail server is used instead of the web server, and the trader terminal 140 and the trader terminal 2 are used.
The transmission of data between the terminal 10, the sales representative terminal 220, the customer terminal 300, the sales representative terminal 400, and the customer terminal 500 may be performed by e-mail.

According to the above-described embodiment of the present invention, derivatives products proposed by GD-type financial institutions and the like are indirectly provided to customers such as CD-type financial institutions. Derivatives products suitable for the assets and liabilities of the CD-type financial institution can be provided to customers such as CD-type financial institutions while avoiding the market risks and the like that occur, and the existing customers can be deepened or new customers can be acquired.

According to the embodiment of the present invention, the GD is almost simultaneously with or after the contract between the CD-type financial institution and the customer.
In order to make a contract between a CD-type financial institution and a CD-type financial institution, for a CD-type financial institution, etc., the CD-type financial institution, etc. must conduct a cover transaction with a GD-type financial institution for derivatives transactions with customers This can avoid market risks and the like caused by derivative transactions.

According to the embodiment of the present invention, since the derivatives products proposed by the GD-type financial institution and the like are indirectly provided to the customer such as the CD-type financial institution, the customers of the CD-type financial institution and the like are not allowed to provide such products. Derivatives products suitable for customers' assets and liabilities can be acquired and risks can be hedged.

According to the embodiment of the present invention, the GD-type financial institution or the like can perform the derivative transactions cover transaction with the customer by the CD-type financial institution or the like with the GD-type financial institution. The number of derivative transactions can be increased.

The derivative transactions of the present invention may be applied to financial transactions such as foreign exchange transactions, bill transactions, and bond transactions, in addition to derivative transactions.

[0089]

According to the present invention, it is possible to present a rate or a price for an indication of a derivative transaction and, when executing a derivative transaction, to present a rate or a price for executing a contract. It is effective in suppressing a discrepancy between the rate or price presented by the trader and the rate or price that the customer desires to execute, and improving the certainty of the derivative transaction.

Further, according to the present invention, in order to provide a derivative product proposed by a GD financial institution or the like to a customer such as a CD financial institution or the like, the CD financial institution or the like provides the customer with the CD or other financial institution a customer. Derivatives products suitable for customer assets and liabilities can be provided, and it is possible to deepen existing customers or acquire new customers.

Further, according to the present invention, the contract between the GD-type financial institution and the like and the CD-type financial institution and the like is made almost simultaneously with or after the contract between the CD-type financial institution and the customer. For a financial institution or the like, a CD-type financial institution or the like can carry out a cover transaction of a derivative transaction with a customer with a GD-type financial institution or the like, thereby providing an effect of avoiding market risk or the like caused by the derivative transaction.

[Brief description of the drawings]

FIG. 1 is an overall configuration diagram of a derivative transaction system of the present invention.

FIG. 2 is a configuration diagram of a web page for starting use of the derivative trading system of the present invention.

FIG. 3 is a processing flowchart of the consulting processing of the present invention.

FIG. 4 we for starting consulting of the present invention
Configuration of page b

FIG. 5 is a configuration diagram of a web page on which the results of profit and loss estimation according to the present invention are published.

FIG. 6 is a web on which derivatives products of the present invention are published.
Configuration diagram of page

FIG. 7 is a configuration diagram of a web page on which a result of a re-estimation of the present invention is published.

FIG. 8 is a processing flowchart of a proposal processing of the present invention.

FIG. 9 is a configuration diagram of a web page for starting generation of a proposal according to the present invention.

FIG. 10 is a configuration diagram of a web page on which a proposal of the present invention is published.

FIG. 11 is a processing flowchart of an indication process of the present invention.

FIG. 12 is a configuration diagram of a web page for starting an indication of the present invention.

FIG. 13 is a configuration diagram of a web page on which an indication rate and the like of the present invention are published.

FIG. 14 is a processing flow chart of the transaction contract processing of the present invention.

FIG. 15 is a configuration diagram of a web page for executing a transaction according to the present invention.

FIG. 16 is a conceptual diagram of a relationship between a CD-type financial institution with a link and a web page link provided by a GD-type financial institution.

FIG. 17 is a configuration diagram of a contract system for a transaction between a customer, a CD financial institution, and a GD financial institution;

FIG. 18 is an explanatory diagram of redistribution of a profit margin;

FIG. 19 is an explanatory diagram of a processing method of margin redistribution.

FIG. 20 is a processing flowchart according to a comparison result between an estimated price and a contract price.

FIG. 21 is a flowchart showing details of processing in a reallocation processing;

[Explanation of symbols]

100, 200 transaction system, 110 information acquisition terminal, 120, 130 server, 140
Trader terminal, 150 market trading terminal,
160 house system, 170,700 network, 220,400 salesperson terminal, 300,
500 customer terminals, 610 information agencies, 62
0 Interbank Market, 630 Exchange

Claims (23)

[Claims] 1. A derivative transaction processing method for processing a derivative transaction between a customer and a trader, comprising transmitting a rate or a price for indication of the derivative transaction to a customer terminal of the customer. A derivative transaction processing method for transmitting, to the customer terminal, a rate or a price for executing the derivative transaction in accordance with the contract of the derivative transaction. 2. The method of claim 1, wherein the rate or price for the indication and at least one of the rate or price for executing the contract include a spread determined by a trader conducting a derivative transaction with the customer.
6. The derivative transaction processing method described in 1. above. 3. A contract request from the customer is rejected according to a change in the rate or price for executing the contract, or the rate or price for executing the contract after the change is displayed on the terminal of the customer. The derivative transaction processing method according to claim 1. 4. The derivative transaction processing method according to claim 1, wherein transmission of a rate or a price for executing the contract is restricted according to the rating or suitability of the customer. 5. The derivative transaction processing method according to claim 1, wherein said traders include a global dealer type financial institution and a customer dealer type financial institution. 6. A derivative transaction processing method for processing a derivative transaction between a customer and a trader, wherein a rate or a price at which the contract of the derivative transaction is restricted is displayed on a customer terminal of the customer. And displaying a rate or a price for executing the derivative transaction on the customer terminal after the transaction. 7. A derivative transaction processing system for processing a derivative transaction, wherein the first transmission processing unit transmits a rate or a price for indication of the derivative transaction to a terminal of a customer of the derivative transaction. And a second transmission processing unit for transmitting a rate or a price for executing the derivative transaction to a terminal of the customer. 8. A derivative transaction processing method for processing a derivative transaction between a customer and a trader, comprising: receiving a rate or a price for indication of the derivative transaction from a server; A rate or a price for executing the derivative transaction in accordance with the contract of the derivative transaction, receiving a rate or a price for executing the derivative transaction from the server, and displaying a rate or a price for executing the contract. Derivative trading method displayed in. 9. A derivative transaction processing system for processing a derivative transaction between a customer and a trader, wherein the first reception processing unit receives a rate or a price for indication of the derivative transaction from a server. A first display processing unit that displays the unexecutable rate or price on a display screen; and A derivative transaction processing system comprising: a second reception processing unit; and a second display processing unit that displays a rate or a price for executing the contract on a display screen. 10. A derivative transaction processing method for processing a derivative transaction between a customer and a trader, the method comprising the steps of: determining a rate or a price determined by a creator of a derivative product; A derivative transaction processing method for adding or subtracting the spread, and transmitting the rate or price to which the spread has been added or subtracted to at least one of the trading system of the trader and the customer terminal of the customer. 11. The generator according to claim 1, wherein the generator generates the derivatives product according to assets and liabilities of the customer.
0. The derivative transaction processing method according to 0. 12. The derivative transaction processing method according to claim 10, wherein said rate or price includes a spread determined by said creator. 13. A derivative transaction processing system for processing a derivative transaction between a customer and a trader, the system comprising: a derivative transaction processing system that determines a derivative product at a rate or price determined by a creator of the derivative product; A processing unit for adding or subtracting the spread, and a transmission processing unit for transmitting the rate or price to which the spread has been added or subtracted to at least one of the trading system of the trader and the customer terminal of the customer. Derivative transaction processing system. 14. A derivative transaction processing method for conducting a derivative transaction with a customer, wherein a rate or a price determined by a creator of a derivative product is obtained from a server, and the rate or the price is displayed on a display screen. Receiving an input of a spread determined by a trader conducting a derivative transaction with the customer; transmitting the spread to the server; the server adding or subtracting the spread to or from the rate or price; A derivative transaction processing method of transmitting a rate or a price to which a value has been added or subtracted to a customer terminal of the customer. 15. A derivative transaction processing system for conducting a derivative transaction with a customer, comprising: a reception processing unit that receives a rate or a price determined by a creator that has generated a derivative product from a server; A display processing unit for displaying on a display screen; an input processing unit for receiving an input of a spread determined by a trader who performs a derivative transaction with the customer; and a transmission processing unit for transmitting the spread to the server. A derivative transaction processing system for adding or subtracting the spread to or from the rate or price and transmitting the rate or price to which the spread has been added or subtracted to a customer terminal of the customer. 16. A derivative transaction processing method for processing a derivative transaction between a customer and a trader, wherein a rate or a price determined by a creator of the derivative product is stored in a trade system of the trader. The rate or price to which the spread determined by the trader has been added or subtracted is obtained from the trading system, and the rate or price to which the spread has been added or subtracted is displayed on the customer terminal of the customer. Derivative transaction processing method to be performed. 17. A derivative transaction processing system for processing a derivative transaction between a customer and a trader, wherein the rate or price determined by the creator of the derivative product is determined by the trade system of the trader. A first display processing unit for displaying on the display, a reception processing unit for receiving the rate or price to which the spread determined by the trader has been added or subtracted from the trading system, and a rate to which the spread has been added or subtracted. Alternatively, a derivative transaction processing system comprising: a second display processing unit for displaying a price on a customer terminal of the customer. 18. A derivative for processing a first derivative transaction between a customer and a first trader, and a second derivative transaction between the first trader and a second trader. A transaction processing method, wherein, in response to a contract request of the first derivative transaction from the customer, the contract processing of the first derivative transaction and the contract processing of the second derivative transaction are performed. The derivative transaction processing method includes a derivative transaction for canceling the position of the first trader generated by the first derivative transaction. 19. The derivative transaction according to claim 18, wherein a decision is made on whether or not to execute the first derivative transaction according to a credit line between the first transaction and the second transaction. Processing method. 20. A derivative for processing a first derivative trade between a customer and a first trader and a second derivative trade between the first trader and a second trader. A transaction processing system, comprising: a contract processing unit that performs contract processing of the first derivative transaction and performs contract processing of the second derivative transaction in response to a contract request for the first derivative transaction from the customer. A derivative transaction processing system comprising: the second derivative transaction includes a derivative transaction for canceling the position of the first trader generated by the first derivative transaction. 21. A first financial transaction between a customer and a first trader, and a second financial transaction between the first and second traders.
A financial transaction processing method for processing a financial transaction according to claim 1, wherein a rate or a price of a financial instrument is displayed on a first trading system of said first trader, and a spread determined by said first trader is provided. Causes the added or subtracted rate or price to be displayed on at least one of the customer terminal of the customer and the first trading system, and the first or second rate or price before the spread is added or subtracted. A financial transaction processing method for executing a financial transaction and executing the second financial transaction at a rate or a price after the spread is added or subtracted. 22. The financial transaction processing method according to claim 21, wherein the financial transaction includes a derivative transaction, a foreign exchange transaction, a bill transaction, and a bond transaction. 23. A first financial transaction between a customer and a first trader and a second financial transaction between the first trader and a second trader.
A financial transaction processing system for processing a financial transaction of claim 1, wherein a display processing unit that displays a rate or a price of a financial instrument on a first transaction system of the first transaction; A display processing unit that displays the rate or price to which the determined spread has been added or subtracted on at least one of the customer terminal of the customer and the first trading system; and a display before the spread has been added or subtracted. A contract processing unit for executing the first financial transaction at a rate or a price and executing the second financial transaction at a rate or a price after the spread is added or subtracted. system.