| 摘要 |
<p><P>PROBLEM TO BE SOLVED: To provide a market-making system capable of effectively organizing a highly circulating market and effectively performing risk hedges. <P>SOLUTION: The market-making system 2 installed in a securities firm or the like computes selling prices of ETF on the basis of a price adjusting index of stock price index linked type investment trust beneficial securities (ETF) preset through a user terminal 8a used by a user (Trader) and current market price data showing market prices of futures for the ETF obtained from a system 6 of the securities exchange via a network 4. Ordering data of the ETF is prepared based on the calculated selling prices, and the prepared ordering data is transmitted to the system 6 of the securities exchange via the network 4 so as to perform orders for buying and selling. Risk indexes are calculated on the basis of the buying contract number and the selling contract number of the ETF, dealings of futures are placed so as to set the value of the risk indexes into a zero when the calculated risk indexes exceed a permissible limit, and risks based on the dealings of the ETF is hedged. <P>COPYRIGHT: (C)2005,JPO&NCIPI</p> |
