The Exchange Complex project is a hardware implementation of the idea of a solution uniting Eagles hi-tech modules and a remote transaction station for the international exchange market, on the one part, and a new format of relations between a bank and a customer, on the other part. This solution enables provision of the simple and convenient way of executing trade operations at the foreign exchange market to a big number of customers by means of significant simplification of the procedure of market “entrance” (position opening) and market “exit” (position closing).
The essence of the invention is the very implementation of the algorithm (format) of relations between a bank and a customer and further on a virtual depository enabled by means of the Exchange Complex software-hardware system (SHS) for trade transactions under the simplified procedure. This SHS (machine) belongs to the class of banking equipment and may be located in business centers, dealing centers, bank outlets and club-type recreational facilities.
The Exchange Complex SHS operates both in accordance with the principles of traditional banks and stock exchanges and on weekends and holidays effecting quotation of instruments within the bank network. To ensure normal operation of such a SHS (machine) it is required to provide real-time transmitting of the foreign exchange market quotations for trading instruments to this system and to implement a profit-and-loss calculation algorithm according to the transactions executed by the customer.
The source of quotations may be both quotations of this bank and widely-known information sources such as Reuters, Bloomberg or Tenfore, and dealing centers providing Internet access to trade operations at markets and stock exchanges.
Moreover, the customer is given a unique opportunity not only to save his/her cash on the account but to operate it too, receiving real earnings (real profit) through execution of sales and purchase transactions with any available market instruments.
The Exchange Machine project claims to be an innovation in the field of market and exchange transactions (principles thereof) and an invention from the point of view of providing customers with a brand new way of (access to) such transactions. It can be compared to a coffee-dispensing machine that was not an invention in the field of coffee-making but an invention from the point of view of an easy and accessible way of delivering the finished beverage to the customer.Principle of Operation
The Exchange Complex SHS operates in real-time mode within a trading session. The session starts with the customer’s entering of money to the Exchange Complex SHS (machine) to ensure trade operations. The session ends with the customer’s receipt of money from the machine or on the account in the amount corresponding to the trade operations executed.
During the session the customer chooses a trading instrument (for example, a currency pair) and the value of the contract for this trading instrument. Then in accordance with his/her expectations and the current datafeed the customer opens a transaction of a certain type by means of execution of transaction for sales/purchase of a trading instrument (currency pair). In accordance with the current datafeed the Exchange Complex calculates the amount of customer’s profit/loss and displays the cash balance after the effected transactions. This is how one trading session ends. The number of trade cycles within one session is limited by the cash balance only. The trade cycle can be forced to end up in the event of price change for the selected trading instrument resulting in zero balance.
One of the sufficient advantages is that there is no need to use long-lasting and complicated procedures of customer’s preliminary registration, open bank accounts or transfer money to dealing centers. All the operations and settlements with the customer are effected immediately through the machine on spot.
The Exchange Complex can be applied as equipment for stock exchanges, bank dealing centers, bookmaker’s offices or as a trade station if it is located in business centers and stock-exchange-oriented clubs.
And what is even more important, this new format of bank-customer relations >> virtual depositary enables banks to transform into networks of trade and settlement centers raising customers’ funds by means of provision of an easy and convenient way of funds investment to an investor (customer) at his/her own choice without requiring intermediary services.