WO2019240499A1 - Method and system for supporting short selling of marketable securities, and non-transitory computer-readeable recording medium - Google Patents

Abstract

According to one aspect to the present invention, a method for supporting short selling of marketable securities comprises the steps of: generating first irreversible operation information on the basis of information to be protected that is included in lending transaction information specified in reference to an agreement of lending transaction conditions, occurring between a lender node and a borrower node, for lending marketable securities; generating second irreversible operation information on the basis of the first irreversible operation information and information not to be protected that is included in the lending transaction information; and matching at least one of the first irreversible operation information, the second irreversible operation information, and algorithm information linked with an irreversible operation to short selling order information linked with the lending transaction information.

Description

Methods, systems, and non-transitory computer readable recording media that support short selling of securities

The present invention relates to methods, systems, and non-transitory computer readable recording media that support short selling of securities.

Securities lending and borrowing transaction means a securities consumption lending agreement concluded by the lender undertaking the transfer of ownership of the securities to the borrower and the borrower undertaking the return of the same amount of securities. Once a loan is established, the securities' disposal rights and revenue streams are transferred to the borrower, who then pays back the borrower's rights (e.g. cash or stock dividends, free shares, Compensation, etc.).

Lending has been used to achieve a variety of purposes. Specifically, short selling transactions, arbitrage transactions through short selling, and collateral are used as collateral. transaction, a fail coverage transaction, a recall coverage transaction if a request for recovery of an existing loan transaction is received (recall coverage transaction), a lower fee It is used for the purpose of replacing a balance with a balance (refinancing transaction), and replacing the balance of the existing balance with a more stable balance.

In most countries, in order for a borrower to short sell a securities, the borrower must own the securities borrowed prior to the short selling order, at which point the borrowing securities are recognized. It is the time to complete or secure the loan agreement for the securities. Most short traders place short quotes for short selling as soon as the contract is finalized. In the course of proceeding a loan transaction, the company will go through the steps of searching, negotiating, and confirming the balance of the securities, and finally confirming the settlement of the stock loan. Is generated and sent from the lender to the borrower. Some countries, such as the United States and Hong Kong, allow short selling transactions after receiving a hold confirmation from the lender, without a loan agreement being finalized. This is a method of completing a loan transaction after a short selling transaction, and there is no need to prepay, so the procedure is simple, and the cost of collateral and securities can be significantly reduced.

On the other hand, a document supporting the sale of the stock at the time of the short sale (i.e. it has already been borrowed or the borrowing contract has been established (or, in some cases, the holding of the securities to be borrowed)) is mentioned above. confirmation or securities lending and borrowing confirmation. The loan confirmation includes personal information about the lender and the borrower (e.g. the name of the institution, contact information of the institution and the person in charge), information on the stock to be borrowed (e.g., the name of the item, the quantity of the loan, etc.), and the time the contract was concluded (time stamp and trade date, settlement date, other related matters (e.g., whether to recall on stock dividends), and a unique identifier that identifies a firm contract. If a short sale is made without a loan statement when the securities are not borrowed through a loan transaction, this is called naked short selling and is strictly prohibited in most countries that allow short selling.

If the person who intends to make a borrow short selling (hereinafter referred to as "short selling consignor") intends to settle with borrowed securities for a borrow short selling order, the short selling consignor shall pay the securities prior to submission of the order. You must have already borrowed or have established a loan agreement. In this regard, the short selling consignor may, prior to submitting a borrowing short order, to provide proof of borrowing, from the lender: ① the item and quantity of the loan securities, ② the date and time of the settlement of the individual loan agreement, and the date of the individual loan transaction, ③ the personal details of the lender (eg, Your name, address, contact information, etc. will be asked to confirm your intention to rent. In addition, short selling trustees who receive and process short selling orders from short selling consignors are required to check information from short selling consignors for information such as ① date of confirmation, ② lenders, and ③ measures to implement payments related to borrowing short selling orders.

However, according to the technology introduced so far, including the conventional work method as described above, there are the following problems.

First, it is possible to alter the balance sheet. In particular, when an audit is conducted on a borrow short sale, the information submitted is subject to at least one formatting and filtering of the information in the format required by the financial authorities. This is due to the fact that different institutions record information differently. Even if the relevant information is not processed in this process, it is almost impossible to check whether the contents of the balance sheet (eg, time stamp, quantity, amount, contract date, execution date) have been manipulated. This manipulation can occur not only in the audit process, but also in the usual balance sheet and short selling transactions. Borrowing short-selling transactions can lead to serious unsettled situations that are not recognized or post-traded.

Second, it is difficult to create a clear and irreversible record of who agreed to what, when, and what the balance sheet was. Market participants, especially short sellers, should be able to prove that the transaction is a borrow short selling at a later request from the financial regulator. In order to prove this, the borrower and the lender agreed with the statement. Until now, it is completely dependent on the borrower's data, and it is not possible to prove whether the borrower and the lender are based on the agreement.

Third, a third party, such as a consignment trader, securities depository, stock exchange, or financial monitoring / supervision organization that processes orders, clearly verifies borrowing (or lending) by the borrower (or lender). There is no way to do it. In the process of checking whether a short seller is a borrowed short seller from the short selling consignor, it is impossible to clearly verify whether the short seller is a short seller. Currently, the short seller trusts only the claim that the consignor has borrowed and is forced to process the short selling order. In addition, sharing the balance sheet with these third parties will inevitably reveal confidential business information between the borrower and the lender.

Fourth, it is difficult for a financial oversight body to audit whether or not a short sale is made, and it is difficult to verify whether the short selling consignor actually borrowed before the short selling order in accordance with the relevant regulations. If a short selling consignor changes his or her record arbitrarily or by mistake, there is no way to verify it. A financial authority or a financial authority entrusts a third party (e.g. securities depository settlement or stock exchange) to collect and manage all the balance sheets in order to check whether the short selling consignor borrows and whether the lender borrows. This can be. But even with this method, it is difficult to solve the problems so far. For example, it is not possible to determine whether the balance sheet is forged or not, and there is no way to clearly verify whether the statement actually agrees with the borrower and the lender. In the case of a centralized database, there is a risk of losing, hacking, tampering, destroying, or damaging the data. In this case, the responsibility may be passed on to third-party institutions and financial monitoring and supervision.

The above-mentioned problems cannot prevent the alteration of the balance sheet, the generation of irreversible information on the balance sheet record, such as the generation, transmission, and storage of the balance sheet, and the short selling order of the person who intends to short-sell (or intends to sell). This is due to the limitations of the current technology that cannot be verified by third parties without the disclosure of confidential information on whether all borrowings are secured and whether the lender is able to borrow.

The present invention aims to solve all of the above-mentioned problems of the prior art.

In addition, in the present invention, for the verification of a third party, information such as confidential matters or trade secrets of the company in the balance sheet is provided by concealing and irreversible, but the person who performs the verification borrows without the information on the entire original statement. Its purpose is to make it possible to verify (eg, through mathematical operations) whether or not a short sale is made.

It is another object of the present invention to detect, prevent or eliminate naked short selling.

It is another object of the present invention to reduce (eg, shorten the evidence process) transaction delays that occur during a loan transaction or a short selling process.

In addition, the present invention enables the financial oversight body to perform real-time auditing, thereby reducing the cost of monitoring and auditing the trading participants (eg borrowers, lenders, etc.) of the financial oversight body. The aim is to improve the effectiveness of such monitoring and auditing.

It is another object of the present invention to reduce the regulatory reporting and compliance costs of trading participants by allowing the loan transaction process to be reported in real-time to financial regulators.

In addition, the present invention provides that the securities are secured by allowing the issuance of borrow confirmation, transmission and receipt of confirmation, and confirmation management to be made on a distributed ledger basis. Another objective is to prevent counterfeiting or tampering with loan history, such as items borrowed, borrowed, or tampered with, and to verify violations of short selling regulations.

In addition, another object of the present invention is to generate irreversible information about a record associated with a loan transaction, such as generation, transmission, and storage of a balance sheet between a borrower and a lender.

It is another object of the present invention to ensure the integrity of the balance transaction information and the validity of the balance transaction.

It is another object of the present invention to prove the fact of the loan transaction and to ensure non-repudiation.

Representative configuration of the present invention for achieving the above object is as follows.

According to an aspect of the present invention, a method for supporting the short selling of securities, wherein the object of protection among the rental transaction information specified by referring to the agreement of the lease transaction conditions for the securities of the securities made between the lender node and the borrower node Generating first irreversible arithmetic information based on the information to be generated, generating second irreversible arithmetic information based on the non-protected information among the rental transaction information and the first irreversible arithmetic information, and the first And matching at least one of the first irreversible arithmetic information, the second irreversible arithmetic information, and algorithm information associated with the irreversible arithmetic to the short selling order information associated with the rental transaction information.

According to another aspect of the present invention, a system for supporting short selling of securities, which is subject to protection among rental transaction information specified by referring to an agreement of a rental transaction condition for securities lending between a lender node and a borrower node An irreversible arithmetic information management unit which generates first irreversible arithmetic information based on the information, and generates second irreversible arithmetic information based on the non-protected information among the rental transaction information and the first irreversible arithmetic information, and the A short selling order information matching unit for matching at least one of first irreversible arithmetic information, second irreversible arithmetic information, and algorithm information associated with the irreversible arithmetic to short selling order information corresponding to the rental transaction information is provided.

In addition, there is further provided a non-transitory computer readable recording medium for recording another method for implementing the present invention, another system, and a computer program for executing the method.

According to the present invention, it is possible to reduce the monitoring and auditing costs of the transaction participants of the financial supervisory authority, and to improve the monitoring and auditing efficiency.

In addition, according to the present invention, not only can significantly reduce the regulatory risk for the transaction participants, but also significantly reduce the cost of regulatory reporting, compliance and operation.

In addition, according to the present invention, it is possible to verify the loan transaction between the borrower and the lender without the third party reading the protected information associated with the short selling (for example, confidentiality, trade secret, etc.). .

In addition, according to the present invention, it is possible to reduce the transaction delay (e.g., shorten the evidence process) generated during the balance trading or short selling process.

In addition, according to the present invention, a tamperproof balance sheet is generated and transmitted as a smart contract of the distributed ledger and stored in each distributed ledger of the parties, and the balance sheet is generated, transmitted and stored. In the process, irreversible information about the statement and audit trail can be generated, and borrowers and lenders can use irreversible and identical transaction information on the loan transaction history and the loan transaction tracking record, which can be proved through computer algorithms. shared facts, and no one can deny the facts of the transaction he or she agrees to (non-repudiation).

In addition, according to the present invention, all transaction details can be integrated and managed through one system based on distributed ledgers, and since the modulation is fundamentally impossible, the point of time borrowed, the quantity borrowed, the short selling By analyzing the amount of time and the short-sold transactions, you can detect, prevent, or eliminate naked short selling, as well as verify in real time whether you have violated short-selling regulations. Real-time auditing.

Further, according to the present invention, the loan transaction information generated between the borrower and the lender is transmitted to the participants who need the corresponding information through the distributed ledger network, and the borrower and the lender are required to settle the transaction based on the transmitted information. Can be booked into its own system. In addition, since the input process can be auto-booking, it is possible to solve the delay and outstanding problem that may be caused by a mistake due to the manual input process disappears.

In addition, according to the present invention, it is possible to ensure the integrity of the balance transaction information and the validity of the balance transaction.

In addition, according to the present invention, it is possible to prove the balance of trade and to guarantee non-repudiation.

1 is a diagram illustrating a schematic configuration of an entire system supporting short selling according to an embodiment of the present invention.

2 is a diagram illustrating an exemplary configuration of an entire system supporting short selling according to an embodiment of the present invention.

3 and 4 exemplarily illustrate a process in which a short selling is supported according to an embodiment of the present invention.

5 is a diagram exemplarily illustrating a process of generating irreversible calculation information according to an embodiment of the present invention.

6 to 8 are diagrams exemplarily illustrating a process in which an agreement is made between a lender node and a borrower node according to an embodiment of the present invention.

9 is a diagram exemplarily illustrating a process of verifying a short sale according to an embodiment of the present invention.

<Description of the code>

100: multiple nodes

110: lender node

120: borrower node

130: time authentication node

140: short selling verification node

200: Securities Trading System

DETAILED DESCRIPTION The following detailed description of the invention refers to the accompanying drawings that show, by way of illustration, specific embodiments in which the invention may be practiced. These embodiments are described in sufficient detail to enable those skilled in the art to practice the invention. It should be understood that the various embodiments of the present invention are different but need not be mutually exclusive. For example, certain shapes, structures, and characteristics described herein may be implemented with changes from one embodiment to another without departing from the spirit and scope of the invention. In addition, it is to be understood that the location or arrangement of individual components within each embodiment may be changed without departing from the spirit and scope of the invention. Accordingly, the following detailed description is not to be taken in a limiting sense, and the scope of the present invention should be taken as encompassing the scope of the claims of the claims and all equivalents thereto. Like reference numerals in the drawings indicate the same or similar elements throughout the several aspects.

As used herein, the term "securities" refers to a certificate indicating the right to claim a certain amount of money or cargo, that is, a certificate indicating a property right under commercial law. It must be understood in the broadest sense to cover all types of objects that may be subject to a Securities Lending and Borrowing Transaction, rather than being limited to securities regulated by the Commercial Act or the Securities Exchange Act. For example, securities referred to in this specification include listed stocks, unlisted stocks, bonds, beneficiary securities, new stock takeovers, financial instruments including beneficiary securities, futures, derivatives including equity swaps, ELS (Equity-Linked Securities), Equity-Linked Warrant (ELW), Bond with Warrant (BW), Convertible Bond (CB), and ETF (ETF) Traded Funds) may be included.

Hereinafter, various preferred embodiments of the present invention will be described in detail with reference to the accompanying drawings so that those skilled in the art can easily implement the present invention.

1 is a diagram illustrating a schematic configuration of an entire system supporting short selling according to an embodiment of the present invention.

2 is a diagram illustrating an exemplary configuration of an entire system supporting short selling according to an embodiment of the present invention.

As shown in FIG. 1, the entire system according to an embodiment of the present invention may include a communication network, a plurality of nodes 100, and a securities trading system 200.

First, the communication network according to an embodiment of the present invention may be configured regardless of a communication mode such as wired communication or wireless communication, and may include a local area network (LAN), a metropolitan area network (MAN), and a wide area. It may be configured with various communication networks such as a wide area network (WAN). Preferably, the communication network referred to herein may be a known Internet or World Wide Web (WWW). However, the communication network may include, at least in part, a known wired / wireless data communication network, a known telephone network, or a known wired / wireless television communication network without being necessarily limited thereto.

For example, the communication network is a wireless data communication network, and includes Wi-Fi communication, Wi-Fi Direct communication, Long Term Evolution (LTE) communication, Bluetooth communication (eg, low power Bluetooth (BLE) Bluetooth. Low Energy Communication), infrared communication, ultrasonic communication, or the like, may be implemented at least in part.

Next, a plurality of nodes (nodes) according to an embodiment of the present invention is a contact point or connection point capable of communicating with another node 100 through a communication network, and includes a server, a computer, a laptop, a smartphone, a tablet PC. Logical nodes such as physical nodes or applications, program modules, virtual machines, etc. (i.e., virtual nodes) of a backplane (i.e., a digital device having a memory means and equipped with a microprocessor and have computing power). ) May be a concept including

On the other hand, the plurality of nodes 100 according to an embodiment of the present invention may be installed or included in the form of a program module such as an application, a widget, a short selling support system for supporting the short selling of securities according to the present invention. In addition, such a program module may be downloaded from an external application distribution server (not shown) or an external system (not shown). If necessary, the above short selling support system may be operated based on Distributed Ledger Technology (DLT). The distributed ledger herein may refer to the manner in which rental transaction information or short selling order information that occurs between two party nodes is encrypted or irreversible and distributed and managed by two parties (or other parties), The information determined by agreement may be a concept including a kind of private blockchain managed in the form of a blockchain at the nodes of the two parties.

In addition, referring to Figure 2, according to an embodiment of the present invention, the plurality of nodes 100, lender node 110, borrower node 120, time validator node (time validator node) according to the purpose, authority, etc. Nodes of various participant types (e.g., regulator node, moderator node, broker node, depository node, asset manager node, prime broker node, etc.) associated with the short selling transaction May be included.

In the above short selling support system according to an embodiment of the present invention, protection among rental transaction information specified by referring to an agreement of a rental transaction condition for the securities of the securities made between the lender node 110 and the borrower node 120. Generate first irreversible calculation information based on information that is an object of, generate second irreversible calculation information based on non-protected information among the rental transaction information, and first irreversible calculation information above; And matching at least one of the first irreversible arithmetic information of the above, the second irreversible arithmetic information, and algorithm information associated with the irreversible arithmetic to the short selling order information associated with the rental transaction information.

In addition, according to an embodiment of the present invention, the short selling system supports a predetermined hash function (eg, message digest calculation algorithm MD5) in order to generate the irreversible arithmetic information. Algorithm 5)), hash operations, cryptographic algorithms, and the like can be used for the known irreversible transformation or non repudiation.

The configuration and function of the short selling support system according to the present invention will be described in detail through the following detailed description. On the other hand, although described as above with respect to the short selling support system, this description is exemplary, and at least some of the functions or components required for the short selling support system are required as needed, such as a plurality of nodes 100 (eg, a lender node). 110, borrower node 120 or realized within an external system (not shown) or included in a plurality of nodes 100 (eg, lender node 110, borrower node 120) or external system. It may be apparent to those skilled in the art. For example, a user according to an embodiment of the present invention may use an application including at least some of the functions of the short selling support system according to the present invention at his node, or at least among the functions of the short selling support system according to the present invention. By accessing a website which provides a part, it is possible to borrow or borrow the securities according to the present invention or to place a short sale order on the borrowed or borrowed securities.

Next, when the securities transaction system 200 according to an embodiment of the present invention is provided with information on the short selling order of at least one securities, the seller of the securities borrowed by the borrower in response to the short selling order ( In other words, a short selling order), or the sell order can be executed through another buyer. For example, the securities trading system 200 according to an embodiment of the present invention may include a conventional stock exchange (eg, New York Stock Exchange, Tokyo Stock Exchange, Korea). It may be similar to a system operated by a Korea Stock Exchange.

Composition of short selling support system

Hereinafter, the function of each component of the short selling support system performing an important function for the implementation of the present invention will be described.

According to an embodiment of the present invention, the short selling support system may be configured to include an irreversible calculation information management unit, a short selling order information matching unit, and a verification management unit. According to an embodiment of the present invention, at least some of the irreversible operation information management unit, the short selling order information matching unit, and the verification management unit may be program modules that communicate with an external system. Such program modules may be included in the short selling support system in the form of an operating system, an application program module or other program modules, and may be physically stored in various known storage devices. Such program modules may also be stored in a remote storage device capable of communicating with the short selling support system. On the other hand, such program modules include, but are not limited to, routines, subroutines, programs, objects, components, data structures, etc. that perform particular tasks or execute particular abstract data types, described below, in accordance with the present invention.

First, the irreversible calculation information management unit according to an embodiment of the present invention refers to the protection of the rental transaction information specified by referring to the agreement of the rental transaction conditions for the security of the securities made between the lender node 110 and the borrower node 120. The first irreversible arithmetic operation information may be generated based on the information that is subject to the operation. In the above rental transaction conditions according to an embodiment of the present invention, the type of securities to be rented by the lender, the type of securities to be rented by the lender, the quantity of the securities to be rented by the lender, the loan fee rate, the contract date, and the date of conclusion. , At least one of a dividend, a rights relationship, a recall, and the personal details of the lender (or borrower). Further, according to an embodiment of the present invention, the above rental transaction information is transaction information associated with the rental transaction made between the lender node 110 and the borrower node 120 (for example, such a transaction information is a rental transaction) On the basis of the information may be related to a short selling order requested by the short selling order consignment agency. In addition, according to an embodiment of the present invention, the information subject to the above protection may be information specified (or preset) by the borrower or the lender among the rental transaction information, or may be information specified by mutual agreement. have.

For example, in accordance with one embodiment of the present invention, each private key (ie, lender node 110) for a lending transaction condition of a security that is mutually accepted or approved by lender node 110 and borrower node 120. And the private key of the borrower node 120), an agreement regarding the above rental transaction conditions can be performed, and the irreversible arithmetic operation information management unit can be used in the rental transaction information specified by referring to the agreement of the above rental transaction conditions. The first irreversible arithmetic information (eg, a first message digest) may be generated based on the information to be protected.

Meanwhile, the non-reciprocal operation information management unit according to an embodiment of the present invention refers to at least one of a nonce and a predetermined private key in order to prevent decryption of the irreversible operation. Irreversible information can be generated. The nonce value and the private key value according to an embodiment of the present invention may be determined by an agreement between the lender node 110 and the borrower node 120, may be given in response to the rental transaction information, or may be a value generated arbitrarily. .

For example, the irreversible calculation information management unit according to an embodiment of the present invention is based on the first irreversible calculation information based on a value calculated after a predetermined calculation of the information to be protected and the nonce value among the rental transaction information. Can be generated.

In addition, the irreversible calculation information management unit according to an embodiment of the present invention may perform a function of generating the second irreversible calculation information based on the non-protected information and the first irreversible calculation information among the rental transaction information.

For example, the irreversible calculation information management unit according to an embodiment of the present invention and information that is not subject to protection, such as information on the rental date of the securities, the rental time of the securities, and the information about the amount of rental of the securities, among the rental transaction information. By irreversible operation of the first irreversible operation information of, the second irreversible operation information (eg, a second message digest) may be generated.

In addition, the irreversible calculation information management unit according to an embodiment of the present invention may allow time information associated with at least one of the first irreversible calculation information and the second irreversible calculation information to be time validated. The authenticated visual information may be further included in the second irreversible calculation information.

For example, the non-reciprocal operation information management unit according to an embodiment of the present invention, a node predetermined by having a predetermined public power (for example, public information about time validation), a node designated by the borrower node and By at least one of the nodes designated by the lender node, it is possible to cause the information on the generation time of the first irreversible operation information or the second irreversible operation information above to be authenticated, and the authenticated time information is authenticated to the agent. 2 may be included in the irreversible operation information. According to an embodiment of the present invention, the authentication may be performed by signing with a private key of at least one of a node preset as the public authority, a node designated by the borrower node, and a node designated by the lender node. have.

On the other hand, the irreversible calculation information management unit according to an embodiment of the present invention, when the second irreversible calculation information is generated, the third irreversible on the basis of the non-protected information and the second irreversible calculation information of the above rental transaction information Operation information can be generated.

Specifically, the irreversible calculation information management unit according to an embodiment of the present invention, after the second irreversible calculation information is generated, in order to prevent decryption of the irreversible calculation, information that is not subject to protection among the rental transaction information. By using the irreversible calculation of the second irreversible calculation information again, the third irreversible calculation information can be generated. In the above, the embodiment in which the third irreversible calculation information is generated by irreversibly calculating the second irreversible calculation information again has been mainly described. However, the present invention is not necessarily limited to generating the third irreversible calculation information. The fourth to N-th irreversible arithmetic information can also be generated within a range capable of achieving the object of.

Next, the short selling order information matching unit according to an embodiment of the present invention includes at least one of the first irreversible operation information, the second irreversible operation information, and algorithm information associated with the irreversible operation, and the short selling order information associated with the rental transaction information. Matching function can be performed. For example, according to an exemplary embodiment of the present invention, the short selling order information may be an electronic short sale instruction provided to a short selling order consignment agency or an exchange for a short selling order based on the rental transaction information. It may be a concept including

For example, the short selling order information matching unit according to an embodiment of the present invention corresponds to the short selling order information based on the above rental transaction information, the first irreversible operation information, the second irreversible operation information, and the above. At least one of the algorithm information associated with the irreversible operation of may be specified.

For another example, the short selling order information matching unit according to an embodiment of the present invention, the first irreversible operation information, the second irreversible operation information and the above for the short selling order information based on the rental transaction information. At least one of the algorithm information associated with the irreversible operation of may be set to have a correspondence relationship (eg, a one-to-one correspondence relationship). More specifically, according to an embodiment of the present invention, the short selling order information matching unit includes the first irreversible operation information, the second irreversible operation information, and the algorithm information associated with the irreversible operation, and the short selling order information. The above correspondence may be set through a database or a lookup table related to the correspondence of.

In addition, the short selling order information matching unit according to an embodiment of the present invention may include at least one of the matched first irreversible operation information, second irreversible operation information, and algorithm information associated with the irreversible operation related to the rental transaction information. Short selling may also be included or tagged in the order information. In this case, according to one embodiment of the present invention, at least one of the matched first irreversible operation information, second irreversible operation information, and algorithm information associated with the irreversible operation is the short selling order information (specifically, It can be tagged with an electronic short sale instruction that can be used to place a short sale order and delivered through an Order Management System (OMS) that connects the short seller and the short seller.

Next, the verification management unit according to an embodiment of the present invention may perform a function of verifying whether or not borrowing (or borrowing) short selling by comparing the short selling order information and the rental transaction information associated with the short selling order information.

For example, the verification management unit according to an embodiment of the present invention, whether the short selling order quantity included in the first short selling order information is less than or equal to the borrowing quantity of the first rental transaction information associated with the first short selling order information, Whether the short selling order amount included in the first short selling order information is less than or equal to the borrowing amount of the above first rental transaction information, and the name of the security included in the first short selling order information, and the first rental above The borrowing (or borrowing) short selling may be verified based on at least one of whether the names of the securities of the transaction information match.

In addition, the verification management unit according to an embodiment of the present invention associates with the short selling order information based on at least one of the first irreversible operation information matching the short selling order information, the second irreversible operation information, and algorithm information associated with the irreversible operation. Integrity of the rental transaction information can be verified. An algorithm associated with an irreversible operation according to an embodiment of the present invention may include an algorithm for generating at least one of first irreversible operation information and second irreversible operation information.

For example, the verification management unit according to an exemplary embodiment of the present invention may include the first irreversible calculation information matching the short selling order information and the corresponding short selling order information, based on an algorithm associated with an irreversible operation matching the short selling order information. The second irreversible arithmetic information may be obtained by irreversibly calculating non-protected information (specifically, information not subject to protection used at the time of generating the second irreversible arithmetic information among the rental transaction information) among related rental transaction information. By generating and analyzing the second short-term irreversible operation information matching the short selling order information, the integrity of the rental transaction information associated with the short selling order information may be verified.

For another example, the verification management unit according to an embodiment of the present invention lends based on whether the authentication for the time when the second irreversible calculation information (or the first irreversible calculation information) matching the short selling order information is generated is valid. Integrity of transaction information can be verified. More specifically, the verification management unit according to an embodiment of the present invention uses a public key of a node (for example, a node designated by the borrower node 120) that has performed authentication for the above time. By decrypting the signature for the above authentication, it is possible to verify whether the corresponding certificate is a valid certificate, and thereby the integrity of the rental transaction information can be verified.

3 and 4 exemplarily illustrate a process in which a short selling is supported according to an embodiment of the present invention.

3 and 4 illustrate a situation in which short selling is supported based on a distributed ledger according to an embodiment of the present invention. For example, according to an embodiment of the present invention, the agreement between the lender node 110 and the borrower node 120 may be based on a smart contract supported in the distributed ledger network.

First, according to an embodiment of the present invention, the object of protection of the rental transaction information specified by referring to the agreement of the rental transaction conditions for the rental of the securities made between the lender node 110 and the borrower node 120. First irreversible calculation information may be generated based on the information (310, 410).

For example, according to an embodiment of the present invention, the borrower node 120 may generate the first irreversible calculation information based on the information to be protected from the rental transaction information (310).

For another example, according to an embodiment of the present invention, the lender node 110 may generate the first irreversible calculation information based on the information to be protected from the rental transaction information (410).

Next, according to an embodiment of the present invention, the second irreversible calculation information may be generated based on the non-protected information among the rental transaction information and the first irreversible calculation information.

For example, the borrower node 120 according to an embodiment of the present invention may generate second irreversible calculation information by irreversibly calculating information that is not subject to protection and first irreversible calculation information among the rental transaction information. have.

For another example, the lender node 110 according to an embodiment of the present invention may generate the second irreversible operation information by irreversibly calculating the first irreversible operation information and the non-protected information among the rental transaction information. Can be.

Then, according to one embodiment of the present invention, authentication for the time information associated with the second irreversible operation information may be performed, and the authenticated time information may be included in the second irreversible operation information.

For example, the borrower node 120 according to an embodiment of the present invention may transmit a time validator node or the borrower node 120 with respect to a time at which the second irreversible calculation information is generated. The node 130 may be authenticated by the node 130 designated by the node 130, and the authenticated time information may be included in the second irreversible operation information (Time-Validated Message Digest).

For another example, the lender node 110 according to an embodiment of the present invention may perform authentication with respect to the time at which the second irreversible operation information is generated, and the authenticated time information is the second irreversible operation information. (Lender Issued Time-Validated Message Digest) can be included in (420).

Then, according to an embodiment of the present invention, the first irreversible operation information above, the second irreversible operation information (the information may include the above authorized time information) and the irreversible operation associated with At least one of the algorithm information may match the short selling order information associated with the rental transaction information. For example, in accordance with one embodiment of the present invention, an order management system (OMS) that is tagged with an electronic short sale instruction that can be used when ordering a short selling to connect a short selling consignor and a short selling trustee. Can be delivered via).

Then, according to one embodiment of the present invention, the first irreversible operation information, the second irreversible operation information, the information that is not subject to protection among the rental transaction information, and algorithm information associated with the irreversible operation are verified for short selling. Node 140 may be provided (or granted access or access).

Next, the short selling verification node 140 according to an embodiment of the present invention may verify the borrowing short selling by analyzing the short selling order information and the rental transaction information associated with the short selling order information. 330 and 430. In addition, the short selling verification node 140 according to an embodiment of the present invention may provide the first irreversible operation information, the second irreversible operation information, and the algorithm information associated with the above irreversible operation that match the short selling order information. The integrity of the rental transaction information may be verified based on at least one of the above.

5 is a diagram exemplarily illustrating a process of generating irreversible calculation information according to an embodiment of the present invention.

Referring to Figure 5, according to an embodiment of the present invention with reference to the agreement of the rental transaction conditions for the rental of securities made between the lender node 110 and the borrower node 120 of the lender transaction information of the lender transaction specified The first irreversible calculation information 510 may be generated based on information 501 to be protected, such as a name and a contractor's contract information. In this case, in order to prevent decryption of the first irreversible operation information 510 according to an embodiment of the present invention, the first irreversible operation information 510 may be referred to with reference to the nonce value or the private key value 501. Can be generated.

Next, according to an embodiment of the present invention, the date, time, securities identifier, securities name, securities quantity of the above rental transaction information The second irreversible arithmetic information 520 may be generated based on information 502 which is not subject to protection such as a quantity and a reference ID and the first irreversible arithmetic information 510 described above.

Then, in accordance with an embodiment of the present invention, the node 130 (the node having such a public authority is the lender) whose information about the time when the second irreversible arithmetic information 520 is generated is set to have public trust in the distributed ledger. Agreement may also be established between node 110 and borrower node 120), by node 130 specified by lender node 110 or by node 130 designated by borrower node 120. Once authenticated, information about the electronic signature signed with the private key of the node 130 may be further included in the second irreversible operation information 520 (530).

6 to 8 are diagrams exemplarily illustrating a process in which an agreement is made between a lender node 110 and a borrower node 120 according to an embodiment of the present invention.

First, referring to FIG. 6, according to an embodiment of the present invention, borrower node 110 may request information about a rental transaction condition for lending a security from borrower node 110. According to an embodiment of the present invention, the borrower node 120 may request a private key based digital signature for the request (601).

Then, according to one embodiment of the present invention, information regarding the rental transaction conditions from the lender node 110 may be provided to the borrower node 120 in response to the request. According to an embodiment of the present invention, in order to provide the above information, the lender node 110 may require a private key based digital signature (602).

Then, according to one embodiment of the present invention, a request for approval of the rental transaction condition from the borrower node 120 may be provided to the borrower node 110. According to an embodiment of the present invention, the borrower node 120 may require a private key based digital signature for the above authorization request (603).

Then, according to one embodiment of the present invention, if the approval for the above rental transaction conditions is made from the above lender node 110 in response to the above approval request (604), the above lender node 110 And an agreement is made between the borrower node 120, and information about the agreed condition may be distributed and recorded in each of the lender node 110 and the borrower node 120, respectively (605, 606). .

Next, referring to FIG. 7, according to an embodiment of the present invention, information about a rental transaction condition for lending of securities may be pushed out from the lender node 110 to the borrower node 120. have. According to an embodiment of the present invention, a private key based electronic signature may be required of the lender node 110 for presentation of the above (701).

Then, according to one embodiment of the present invention, the borrower node 110 may be provided a request for approval regarding the above rental transaction conditions from the borrower node 120 in response to the information presented above. According to an embodiment of the present invention, a private key based electronic signature may be required of the borrower node 120 for the above authorization request (702).

Then, according to one embodiment of the present invention, if approval for the above rental transaction conditions is made from the above lender node 110 (703), the above lender node 110 and the borrower node 120 above. ), And information about the agreed conditions may be distributed (704, 705) to the lender node (110) and the borrower node (120), respectively.

Next, referring to FIG. 8, after an agreement is made between the lender node 110 and the borrower node 120 (801, 802), the loan transaction condition from the borrower node 120 according to an embodiment of the present invention. The request for modification to the lender node 110 may be provided (803).

Then, according to one embodiment of the present invention, if approval for the above modification request is made from the lender node 110 above (804), the lender node 110 above and the borrower node 120 above. There is a re-arrangement between the information and the information on the terms of the re-agreeed rental transaction may be recorded in each of the lender node 110 and the borrower node 120 (805, 806).

9 is a diagram exemplarily illustrating a process of verifying a short sale according to an embodiment of the present invention.

Referring to FIG. 9, in accordance with an embodiment of the present invention, the borrower node 120 requests loan transaction information associated with the short selling order information from the short selling verification node 140 (or an authorization request for viewing or access). It may be (901). In this case, the borrower node 120 according to an embodiment of the present invention may provide the short selling verification node 140 with information that is not subject to protection among the rental transaction information, the first irreversible operation information, the second irreversible operation information, and the irreversible operation. The associated algorithm information may be provided (or authorized to be viewed or accessed) (902).

Next, according to an embodiment of the present invention, the short selling verification node 140 may verify the borrowing short selling by comparing the short selling order information and the rental transaction information associated with the short selling order information. (903). Further, according to one embodiment of the present invention, the short selling verification node 140 is based on at least one of the first irreversible operation information matching the short selling order information, the second irreversible operation information and the algorithm information associated with the irreversible operation. It is possible to verify the integrity of the rental transaction information.

For example, the short selling verification node 140 according to an embodiment of the present invention may perform a first irreversible operation matching the short selling order information based on an algorithm associated with an irreversible operation matching the short selling order information. Irreversible non-protected information (specifically, non-protected information used at the time of generating the second irreversible arithmetic information) of the rental transaction information associated with the information and the above short selling order information. Generate second irreversible arithmetic information by calculating, and compare the generated second irreversible arithmetic information with second irreversible information matching the short auction order information by analyzing the second irreversible arithmetic information so that the integrity of the rental transaction information is verified. Can be. That is, even if information to be protected to the short selling verification node 140 is provided in the form of the first irreversible arithmetic information through such a scheme, whether the borrowing short selling or the integrity of the rental transaction information is short selling verification node 140. Can be verified by

Embodiments according to the present invention described above can be implemented in the form of program instructions that can be executed by various computer components and recorded in a computer-readable recording medium. The computer-readable recording medium may include program instructions, data files, data structures, etc. alone or in combination. Program instructions recorded on the computer-readable recording medium may be specially designed and configured for the present invention, or may be known and available to those skilled in the computer software arts. Examples of computer-readable recording media include magnetic media such as hard disks, floppy disks and magnetic tape, optical recording media such as CD-ROMs and DVDs, and magneto-optical media such as floptical disks. medium) and hardware devices specifically configured to store and execute program instructions, such as ROM, RAM, flash memory, and the like. Examples of program instructions include not only machine code generated by a compiler, but also high-level language code that can be executed by a computer using an interpreter or the like. The hardware device may be modified with one or more software modules to perform the processing according to the present invention, and vice versa.

Although the present invention has been described by specific matters such as specific components and limited embodiments and drawings, it is provided only to help a more general understanding of the present invention, and the present invention is not limited to the above embodiments. Those skilled in the art may make various modifications and changes from this description.

Therefore, the spirit of the present invention should not be limited to the above-described embodiments, and the scope of the spirit of the present invention is defined not only in the claims below, but also in the ranges equivalent to or equivalent to those of the claims. Will belong to.

Claims (13)

As a way to support short selling of securities, Generating first irreversible arithmetic information based on information that is subject to protection among the rental transaction information specified by referring to an agreement of a rental transaction condition for the security of the securities made between the lender node and the borrower node; Generating second irreversible calculation information based on the non-protected information among the rental transaction information and the first irreversible calculation information, and Matching at least one of the first irreversible arithmetic information, the second irreversible arithmetic information, and algorithm information associated with the irreversible arithmetic to short selling order information associated with the rental transaction information. Way. The method of claim 1, In the generating of the first irreversible arithmetic information, the first irreversible information is generated by referring to at least one of a nonce and a predetermined private key for preventing decryption. Way. The method of claim 1, The agreement is made as information regarding the rental transaction conditions of the securities signed with the private key of the lender node is provided to the borrower node, and the information about the provided rental transaction conditions is signed with the private key of the borrower node. Way. The method of claim 1, In the generating of the second irreversible operation information, time information associated with at least one of the first irreversible operation information and the second irreversible operation information is further included in the second irreversible operation information. Way. The method of claim 4, wherein The time information is information about a time at which one of the first irreversible calculation information and the second irreversible calculation information is generated. Way. The method of claim 4, wherein The time information is information about a time authenticated by at least one of a time validator node having a public authority, a node designated by the lender node, and a node designated by the borrower node. Way. The method of claim 1, Algorithm information associated with the irreversible operation is determined by an agreement between the lender node and the borrower node. Way. The method of claim 1, In the generating of the second irreversible operation information, when the second irreversible operation information is generated, the third irreversible operation information is generated based on the non-protected information and the second irreversible operation information among the rental transaction information. Including more steps Way. The method of claim 1, By comparing and analyzing the short selling order information and the rental transaction information associated with the short selling order information, whether or not the borrowing short selling is verified. Way. The method of claim 1, To verify the integrity of the rental transaction information based on at least one of first irreversible operation information matching the short selling order information, second irreversible operation information, and algorithm information associated with the irreversible operation. Way. The method of claim 9, Whether the short selling order quantity included in the short selling order information is less than or equal to the borrowing quantity of the rental transaction information, whether the short selling order amount included in the short selling order information is less than or equal to the borrowing amount of the rental trading information, and The non-borrowing short selling is verified based on at least one of whether the name of the security included in the short selling order information and the name of the security of the rental transaction information match. Way. A non-transitory computer readable recording medium for recording a computer program for executing the method according to claim 1. As a system that supports short selling of securities, Generating first irreversible arithmetic information based on information that is subject to protection among the rental transaction information specified by referring to an agreement of a rental transaction condition for securities lending between the lender node and the borrower node, and among the rental transaction information An irreversible arithmetic information management unit that generates second irreversible arithmetic information based on the information not subject to the protection and the first irreversible arithmetic information, and And a short selling order information matching unit matching at least one of the first irreversible arithmetic information, the second irreversible arithmetic information, and algorithm information associated with the irreversible arithmetic to the short auction order information corresponding to the rental transaction information. system.

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