WO2002031616A2

WO2002031616A2 - Method of mock futures trading for sports game

Info

Publication number: WO2002031616A2
Application number: PCT/KR2000/001431
Authority: WO
Inventors: Su-Gon Kim
Original assignee: Bnb-I.Com., Ltd.
Priority date: 2000-10-13
Filing date: 2000-12-09
Publication date: 2002-04-18
Also published as: AU2001220273A1; WO2002031616A3; KR20010007870A; KR100500159B1

Abstract

There is provided a method of mock futures trading for a sports game, including the steps of accessing to a sports futures index transaction server through a network using a user's terminal, making an order to buy or sell sports indexes variably calculated on a real-time basis according to the game in progress, executing transaction by comparing the user's buy or sell order with another user's order, and settling the buy/sell futures trading of the users based on a difference between the sports spot index calculated in accordance with the final result of the sports game after the game is finished, and the users' buy/sell sports futures indexes of the executed transaction. In the method, a user can execute futures trading of sports indexes variably calculated on a real-time basis according to point earning factors (positive (+) index factors) and point losing factors (negative (-) index factors) of a sports game in progress while the user listens to or watches the sports game such as baseball or football on-line on a real-time basis. Therefore, the user can easily learn the principle of futures trading and can gain the sense of futures trading before actual futures transaction.

Description

METHOD OF MOCK FUTURES TRADING FOR SPORTS GAME

Technical Field

The present invention relates to a method of mock futures trading for a sports game, and more particularly, to a method for allowing a user to make on-line futures trading of sports indexes variably calculated on a real-time basis according to point earning factors (positive (+) index factors) and point losing factors (negative (- ) index factors) of a sports game such as a baseball or football game.

Background Art

In general, futures trading which is transaction of a future value refers to execution of a trade contract of a particular commodity at a predetermined price in a constant time. In other words, futures trading is a concept contradictory to spot trading in which delivery and payment of commodities are made upon establishment of transaction. Futures trading is largely classified into commodity futures for spot goods such as agricultural products or energy, and financial futures for stock price index or currency.

Recently, much attention has been paid to futures trading as a risk management means for enterprises and an innovative investment means for individual investors. However, it is quite difficult for vast majorities of individuals to comprehend special economic fields such as futures trading. In the case where the individuals who have never gained the sense of transaction through repeated exercise of futures trading, recklessly execute transaction in the field just based on their theoretic learning, they may unavoidably suffer an enormous financial loss from investment.

In fact, a relatively large amount of investment money on deposit is required for execution of actual futures trading. Thus, futures trading is not easily accessible by individual investors.

Also, futures related web sites currently available over the Internet are providing for only the contents for theoretical learning of futures trading principles.

Therefore, there is no way available for the individual to exercise futures trading, except trying simulated transaction while observing variations in stock indexes. However, the thus-acquired transaction perceptivity shall be definitely limited, and it is the best way to exercise mock investment under conditions in reality.

Disclosure of the Invention

Accordingly, to solve the above-described problems, it is a first object of the present invention to provide a method of allowing a user to execute futures trading of sports indexes variably calculated on a real-time basis according to point earning factors (positive (+) index factors) and point losing factors (negative ( -) index factors) of a sports game in progress while the user listens to or watches the sport game such as baseball or football on-line on a real-time basis. According to the present invention, the principles of the futures trading , which are difficult to comprehend just by theoretical learning, can be easily understood.

Further, futures trading perceptivity can be acquired before actual futures transaction. To accomplish the above object of the present invention, there is provided a method of mock futures trading for a sports game, including the steps of accessing to a sports futures index transaction server through a network using a user's terminal, making an order to buy or sell sports indexes variably calculated on a real-time basis according to the game in progress, executing transaction by comparing the user's buy or sell order with another user's order, and settling the buy/sell futures trading of the users based on a difference between the sports spot index calculated in accordance with the final result of the sports game after the game is finished, and the users' buy/sell sports futures indexes of the executed transaction.

The sports futures index transaction server relays the sports game on-line to the user.

The sports futures indexes are calculated by numerically representing point earning factors and point losing factors of a sports game.

Also, the sports futures index transaction server provides the user with a predetermined amount of cyber money, and the user performs sports futures index trading using the provided cyber money.

Further, the sports futures index transaction server provides compensation to the user in accordance with the profit based on the settlement result of the user's futures trading.

Brief Description of the Drawings

The accompanying drawings, which are incorporated in and constitute a part of the specification, illustrate presently preferred embodiments of the invention and, together with the general description given above and the detailed description of the preferred embodiments given below, serve to explain the principles of the present invention.

FIG. 1 is an overall block diagram of a network system for implementing a method of mock futures trading for a sports game according to the present invention; FIG. 2 is a schematic diagram of a sports futures index transaction server in the network system shown in FIG. 1;

FIGS. 3 A through 3F are tables showing formats of a subscriber information database (DB), a user account DB, a game information DB, a sports index DB, an order particulars DB and a transaction execution particulars DB, respectively, in the sport futures index transaction server;

FIG. 4 is a flow chart showing a method of implementing mock futures trading for a sports game according to the present invention;

FIG. 5 shows a format of a main Web page presented to a logged -in user by the sports futures index transaction server; and FIG. 6 shows a main Web page containing a futures chart, a c urrent price board, a buy/sell order board and so on, presented to a logged- in user by the sports futures index transaction server.

Best mode for carrying out the Invention The present invention will now be described in detail with reference to the accompanying drawings.

The terms or words used in this specification and claims should not be construed as a limitation in a broad general meaning. That is it to say, the terms or words should be construed in the sense and concept consistent to the technical spirit of the invention on the basis of the principle that the inventor can appropriately define the concepts of the terms for explaining the invention in the best possible way.

Therefore, the embodiment described in the specification and the structures shown in the drawings are provided only for illustration of the most preferred embodiment, and the invention is not limited to the above-described illustrative embodiment. In other words, various equivalents and variations that can be substituted may be effected at the time of filing the application of the invention.

FIG. 1 is an overall block diagram of a network system for implementing a method of mock futures trading for a sports game according to the present invention.

Referring to the drawing, the network system according to the present invention includes a plurality of user terminals (1~N) 10, a sports futures index transaction server 20 and a network 30 for connecting the user terminals 10 and the sports futures index transaction server 20. The plurality of user terminals 10 are client computers used for users to access to the sports futures index transaction server 20 through the network 30 for trading sports futures indexes. The user terminals 10 each includes a display, a memory, an input unit and a communication controller. The memory stores a communication program for executing accessing to the sports futures index transaction server 20. The user terminals 10 may be personal computers, portable personal digital assistants (PDAs), mobile communication terminals, wireless internet phones, and the like.

The network 30 may be a wired Internet network, a wireless Internet network, public switched telephone network (PSTN), and the like. The sports futures index transaction server 20 is a server computer that provides cyber money to accessing users and assists users to trade sports futures indexes on-line using cyber money.

The sports index is basically calculated by point earning factors (positive (+) index factors) and point losing factors (negative (-) index factors) of a sports game in progress.

The sports futures index transaction server 20 relays sports game such as a baseball or football game in an audio mode and/or a video/audio mode to users on- line on a real-time basis. Thus, the sports futures index transaction server 20 allows users to conveniently listen to or watch a relay broadcast of a sports game. For example, the sports futures index transaction server 20 may provide users with a link connected to a broadcasting site existing on the network, or a hardware equipment such as a radio receiver and/or TV receiver may be incorporated therein.

FIG. 2 is a schematic diagram of the sports futures index transaction server 20. As shown in the drawing, the sports futures index transaction server 20 includes a central processing unit (CPU) 21, a main memory 22, an input device 23, an output device 24, an auxiliary memory 25, a subscriber information database (DB) 26a, a user account DB 26b, a game information DB 26c, a sports index DB 26d, an order particulars DB 26e, a transaction execution particulars DB 26f, and a communication interface 27.

The CPU 21 executes a subscriber management program 25a, a cyber money management program 25b, a game management program 25c, a sports index management program 25d, an order management program 25e, a transaction execution program 25f, a settlement processing program 25g and other server side programs. Also, the CPU 21 controls the sports futures index transaction server 20 in accordance with a control program 25h.

The main memory 22 is a random access memory (RAM) constituted by a semiconductor memory and has a program loading memory that is used as the main storage area of the CPU 21.

The auxiliary memory 25 may include a recording medium such as a magnetic disk device and stores the above-described programs 25a through 25h.

The subscriber management program 25a requests a user who accesses the server 20 through the network to register as a subscriber. That is, the subscriber management program 25a requests to register the user's personal data, including identification (ID) and password, and store the same on the subscriber information DB 26a, as shown in FIG. 3A, for management. Also, when a user accesses the server 20, the subscriber management program 25a compares the user's ID and password with registered ones to perform subscriber authorization.

The cyber money management program 25b pays a predetermined amount of cyber money to users for subscription and accessing time to the sports futures index transaction server 20. Also, the cyber money management program 25b manages the revenue and expenditure of cyber money based on settlement of futures trading executed by a user using cyber money. Here, the cyber money of each user is stored in the user account DB 26b to be managed. The user account DB 26 b, as shown in FIG. 3B, includes various data fields such as date, notes, revenue, expenditure, balance or the like. The game management program 25c stores the information of a sports game for which sports futures index trading is performed, in the game information DB 26c, for management, and may relay the sports game on a real-time basis. The game information DB 26c, as shown in FIG. 3C, includes various data fields such as event of game, game matches, game particulars, game start time, game relay medium or the like.

The sports index management program 25d calculates the sports indexes varied with the progress of the sport game and stores the same on the sports index DB

26d for management. The sports index DB 26d, as shown in FIG. 3D, includes various data fields such as initial sports index, time of change, changed sports index, factor of change or the like.

The order management program 25e stores particulars for user's orders to buy or sell sports futures index using cyber money on the order particulars DB 26e for management. The order particulars DB 26e, as shown in FIG. 3E, include various data fields such as time of order, order price, order contract quantity, order type, progress after order or the like.

The transaction execution program 25f compares buy and sell orders registered by users and executes matched transaction, and stores the execution particulars on the transaction execution particulars DB 26f for management. The transaction execution particulars DB 26f, as shown in FIG. 3E, includes various data fields such as time of execution, executed price, executed contract quantity, progress after execution or the like. The settlement processing program 25g finally makes settles of the users' futures trading executed during the sports game based on the sport spot index at the completion time of the sport game.

The input device 23 includes a keyboard or a scanner. An operator manipulates the input device 23 to input predetermined data or predetermined commands.

The output device 24 may includes CRT or the like, and displays the processing result of the CPU 21 to the operator.

The communication interface 27 physically connects a communication line with the client computers 10 and controls data transmission between the client computers 10 and the sports futures index transaction server 20.

FIG. 4 is a flow chart showing a method of implementing mock futures trading for a sports game according to the present invention.

Referring to the drawing, in order to make sports futures index trading on-line, a user accesses to a sports futures index transaction server (step SI 00).

In response to the accessing, a sports futures index transaction server transmits a login Web page to the user to request for subscription (step S102).

In response thereto, the user registers necessary information including his/her

ID and password (step S104). Then, the sports futures index transaction server confirms the user's information and files the user' s subscription. In this case, the sports futures index transaction server may pay initial cyber money to the user as compensation for subscription (step S106).

The sports futures index transaction server retransmits a login Web page to the subscribed user (step S108). Then, the user enters ID and password to login (step S110). In response thereto, the sports futures index transaction server confirms the entered ID and password to perform subscriber authorization (step SI 12).

A registered user directly logs in to the sports futures index transaction server without a subscription procedure (step SI 10).

The sports futures index transaction server transmits a main Web page to the logged-in user (step S114). The format of the main Web page is shown in FIG. 5.

As shown in FIG. 5, the main Web page consists of a portion A for notifying the schedule of a sports game for which sports futures index trading is to be made, a portion B for notifying sports futures index trading currently being in progress and allowing a user to select participation in transaction, and a portion C having buttons such as "CONFIRMATION OF MY ACCOUNT" or "LOG-OUT". If there is no sports game current being in progress, the main Web page notifies only the schedule of sports games, that is, the schedule of sports futures index trading. The users can offer transaction orders with an expectation of the results of the sports game, 2 hours, for example, before the game starts. Here, the transactions orders made before the game starting time can be concluded by a concurrent bidding method at the start time of the game. According to the concurrent bidding method, all the possible orders to be concluded in the queue up to the conclusion time are concluded at the same price, as used in the general stock exchange.

The user can refer to the main Web page (step S116) and confirms whether or not there is sports futures index trading to participate in (step S118).

If yes, the user wants to participate in sports futures index trading (step S120), the user makes an offer for the sports futures index trading (step S122). Here, the sports futures index transaction server supports the user to perform the sports futures index trading (step S124).

The step of user's performing the sports futures index trading will later be described in detail.

If the current sports game is completed, the sports futures index transaction server makes a settlement of futures trading concluded during the game (step S126). The sports futures index transaction server calculates each user' s earnings based on the result of the settlement. The sports futures index transaction server may provide compensation to the user in accordance with the calculation result (step S128). Here, the compensation can be provided to the user in the form of commodity or cyber money.

Thus, the sports futures index trading of user is completed and then the user logs out (step S130). Now, a method of calculating sports indexes which are objects for futures trading and a method of executing sports futures index trading and making settlement thereof according to the present invention, will be described in detail.

In general, a sports game has point earning factors and point losing factors. That is, in calculating the sports indexes, the point earning factors are indicated by positive (+) index factors and the point losing factors are indicated by negative (- ) index factors.

Table 1 shows an example of determining index values according to index factors in various sports games. Table 1

Referring to Table 1, in the case of a baseball, positive index factors include points earned, hits and walks, each of to which +1.0, +0.5 and +0.5 are assigned, respectively. Negative index factors include errors, each of to which -0.5 is assigned.

It is assumed that a baseball game between Samsung (principal team) and Hyundai (opponent team) is currently played in the second half of the seventh inning, the current score is 2 to 4 in the favor of Hyundai, Samsung team has recorded 4 hits, and Hyundai team has recorded 8 hits, a walk, an error.

In this case, the counted index calculated according to the game performance is -4. OP, as shown in Table 2. Here, it should be noted that the counted index of the principal team Samsung is positive and the counted index of the opponent team Hyundai is negative.

Table 2

A sports index is obtained by summing the counted index and initial index at the start time of a game. Assuming that the initial index is +100.0P, the current sports index as of the second half of the seventh inning of the baseball game is +96.0P. A user who expects that Samsung will take the lead in the remaining innings or Samsung will win, will offer a buy order at the current price of +96.0P since the sports index will rise. On the other hand, a user who expects that Hyundai will be further superior to Samsung until the game is finished, will offer a sell order at the current price of +96.0P since the sports index will fall. In this case, for example, if a user "A" offers buy orders of 2 contracts at the current price of +96.0P (a buy bid) and another user "B" offers sell orders of 3 contracts at the current price of +96.0P (a selling offer), the futures trading between A and B whose bid and offer are equal, is concluded. Here, t he contract is a unit of futures trading, and minimum trading unit is one contract, and the minimum unit of bid or offer in trading orders is 0.1P.

In this case, the transaction between A and B is executed only for 2 contracts, and the one remaining contract offered by B may be concluded between another buyer whose bid to buy is equal to the B's offer to sell. If the bid to buy and the offer to sell are not matched, the orders are filed in the queue and the orders in the queue may be cancelled.

If the match between Samsung and Hyundai is finally completed as shown in Table 3, the final counted index is -7.5P and the final sports spot index becomes

+92.5P.

Table 3

Now, the futures trading executed between A and B will be settled. It is assumed that the transaction index is 96.0P, the transaction quantity is 2 contracts, and the cyber money for each point of one contract is 5,000 CM.

A: 92.5 (Spot index) - 96.0 (Buying index) * 2 (Quantity) * 5,000 (Cyber

money) = -35,000CM; and

B: 96.0 (Selling index) - 92.5 (Spot index) * 2 (Quantity) * 5,000 (Cyber money) = +35,000CM.

Therefore, B gains profit of 35,000 CM and A suffers the corresponding loss. Also, the users can resell or barter their unsettled contracts before settlement. FIG. 6 shows the format of a main Web page presented by the sports futures index transaction server according to the present invention, for allowing a user to execute sports futures trading. Referring to FIG. 6, the main Web page contains a futures chart, a current price board, a buy/sell order board, a sports relay manipulating page, a game information confirming page, and so on.

The futures chart is a graph showing the time-dependent variation of sports futures indexes varying according to the progress of a game on a real-time basis. The current price board notifies the overall status of futures trading currently being underway. The buy/sell order board is used for a user to enter the type of order, quantity of order, order price and so on, and to order to buy or sell sports futures indexes. Thus, the user can make sports futures trading by referring to the futures chart and the current price board while listening to the sports game relay broadcast. The buy/sell orders entered by the user are automatically executed by the sports futures transaction server. The Web page is operated by a real- time executable system, updates real-time data and displays the same on the futures chart and the current price board.

Although a specific embodiment of this invention has been shown and described herein, it is to be understood that the invention is not limited thereto and that various modifications and variations thereof can be effected by those of ordinary skill in the art within the scope and spirit of the appended claims and their equivalents. Industrial Applicability

In the method of mock futures trading for a sports game according to the present invention, a user can virtually experience a mock futures trading on-line while enjoying an exciting sports game, thereby easily learning the principle of futures trading and gaining the sense of futures trading.

A sports futures index transaction server can provide users with Web contents concerning differentiated mock futures trading, thereby calling their strong attention to Web sites.

Further, the present invention can contribute to enhancement of the public attention to and activation of futures trading which has yet to be widely known to the public.

Claims

What is claimed is:

1. A method of mock futures trading for a sports game, comprising the steps of: accessing to a sports futures index transaction server through a netwo rk using a user's terminal; making an order to buy or sell sports indexes variably calculated on a real - time basis according to the game in progress; executing transaction by comparing the user's buy or sell order with another user's order; and settling the buy/sell futures trading of the users based on a difference between the sports spot index calculated in accordance with the final result of the sports game after the game is finished, and the users' buy/sell sports futures indexes of the executed transaction.

2. The method according to claim 1, wherein the sports futures indexes are calculated by numerically representing point earning factors and point losing factors of a sports game.

3. The method according to claim 1, further comprising the step of relaying the sports game on-line to the user by the sports futures index transaction server.

4. The method according to claim 1, further comprising the step of providing the user with a predetermined amount of cyber money by the sports futures index transaction server, whereby the user performs sports futures index trading using the provided cyber money.

5. The method according to claim 1, further comprising the step of providing compensation to the user in accordance with the profit based on the settlement result of the user's futures trading.