• Journal of Internet of Things and Convergence
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• v.10 no.1
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• pp.7-12
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• 2024

To trade cryptocurrency, traders require a personal cryptocurrency wallet. Cryptocurrency itself using blockchain technology is guaranteed excellent security and reliability, so the threat of blockchain hacking is almost impossible, but the exchange environment used by traders for transactions is most subject to hacking threats. Even if transactions are made safely through blockchain during the transaction process, if the trader's wallet information itself is hacked, security cannot be secured in these processes. Exchange hacking is mainly done by stealing a trader's wallet information, giving the hacker access to the victim's wallet assets. In this paper, to prevent this, we would like to reconstruct the existing Hyperledger Fabric structure and propose a system that verifies the identity integrity of traders during the transaction process using whitelisting. The advantage is that through this process, damage to cryptocurrency assets caused by hackers can be prevented and recognized. In addition, we aim to point out and correct problems in the transaction process that may occur if the victim's wallet information is stolen from the existing Hyperledger Fabric.

• Journal of Intelligence and Information Systems
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• v.17 no.3
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• pp.187-201
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• 2011

KOSPI200 index is the Korean stock price index consisting of actively traded 200 stocks in the Korean stock market. Its base value of 100 was set on January 3, 1990. The Korea Exchange (KRX) developed derivatives markets on the KOSPI200 index. KOSPI200 index futures market, introduced in 1996, has become one of the most actively traded indexes markets in the world. Traders can make profit by entering a long position on the KOSPI200 index futures contract if the KOSPI200 index will rise in the future. Likewise, they can make profit by entering a short position if the KOSPI200 index will decline in the future. Basically, KOSPI200 index futures trading is a short-term zero-sum game and therefore most futures traders are using technical indicators. Advanced traders make stable profits by using system trading technique, also known as algorithm trading. Algorithm trading uses computer programs for receiving real-time stock market data, analyzing stock price movements with various technical indicators and automatically entering trading orders such as timing, price or quantity of the order without any human intervention. Recent studies have shown the usefulness of artificial intelligent systems in forecasting stock prices or investment risk. KOSPI200 index data is numerical time-series data which is a sequence of data points measured at successive uniform time intervals such as minute, day, week or month. KOSPI200 index futures traders use technical analysis to find out some patterns on the time-series chart. Although there are many technical indicators, their results indicate the market states among bull, bear and flat. Most strategies based on technical analysis are divided into trend following strategy and non-trend following strategy. Both strategies decide the market states based on the patterns of the KOSPI200 index time-series data. This goes well with Markov model (MM). Everybody knows that the next price is upper or lower than the last price or similar to the last price, and knows that the next price is influenced by the last price. However, nobody knows the exact status of the next price whether it goes up or down or flat. So, hidden Markov model (HMM) is better fitted than MM. HMM is divided into discrete HMM (DHMM) and continuous HMM (CHMM). The only difference between DHMM and CHMM is in their representation of state probabilities. DHMM uses discrete probability density function and CHMM uses continuous probability density function such as Gaussian Mixture Model. KOSPI200 index values are real number and these follow a continuous probability density function, so CHMM is proper than DHMM for the KOSPI200 index. In this paper, we present an artificial intelligent trading system based on CHMM for the KOSPI200 index futures system traders. Traders have experienced on technical trading for the KOSPI200 index futures market ever since the introduction of the KOSPI200 index futures market. They have applied many strategies to make profit in trading the KOSPI200 index futures. Some strategies are based on technical indicators such as moving averages or stochastics, and others are based on candlestick patterns such as three outside up, three outside down, harami or doji star. We show a trading system of moving average cross strategy based on CHMM, and we compare it to a traditional algorithmic trading system. We set the parameter values of moving averages at common values used by market practitioners. Empirical results are presented to compare the simulation performance with the traditional algorithmic trading system using long-term daily KOSPI200 index data of more than 20 years. Our suggested trading system shows higher trading performance than naive system trading.

• The Journal of the Korea institute of electronic communication sciences
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• v.7 no.2
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• pp.357-364
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• 2012

For this study, real estate brokerage services to customers how to evaluate quality factors and quality factors important for studying about what is preferred. Real estate brokerage service quality factors, the expertise of brokers, dealers sales skills, a sense of responsibility of traders, brokerage firm's position, whether or not participating were chosen franchise. Looking at the findings, and customer service quality factors, the five kinds of real estate brokers a sense of responsibility to be the most important quality factors were analyzed as a favorite, followed by the expertise of brokers, sales skills brokers, brokerage firm's presence, a franchise analysis of whether the order has been participating. As the results of this study, the traders as traders sense of responsibility and expertise and strive to improve, friendly servece and act as an active intermediarv will need to improve sales skills. Continuous promotion of the brokerage firm's position is shown to be critical, franchise affiliated businesses in order to make use of an efficient information network of the Internet is seen to be in need of improvement. This paper, we have experienced a real estate brokerage contracts require customers a service directly to find out whether the data obtained through interviews with the empirical analysis is Therefore, work-related departments of Ministry of Land and brokerage herein with reference to the Association to take measures to Once you have contributed little bit. Brokerage industry and the traders themselves, as well as the competition is to the straight ahead Do not look at a value for the development of brokerage will be constantly working.

• Journal of the Korean association of regional geographers
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• v.2 no.2
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• pp.113-131
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• 1996

The purpose of this study is to identify the existence, personal characteristics and behavior of market-participants, and function of urban weekly markets in Taegu City through observation, interview and questionnaire survey. There are four weekly periodic markets such as Seongso(Monday), Chilgok(Wednesday), Siji(Thursday), and Chilgok(Friday) which have recently developed near the new apartment areas on the outskirts of Taegu. The major findings of this study can be summarized as follows: These markets originated from the agricultural cooperative's Friday markets, but were substantially established by mobile traders or merchants for the sake of their livelihood. Therefore, the existence of these markets is not explained by Stine's central place perspective but partially explained by Hay's economic locational and Bromley's socio-cultural perspective. Most traders are male, aged 30 to 40 years and have an educational level higher than high school. Most of them are living in Taegu and itinerantly visit more than two markets among the four markets by small truck. And most of them sell agricultural products and other food materials, except some who sell manufactured goods. Most consumers are housewives, aged 20 to 30 years and have an educational level higher than high school. Most of them are living within 1,000m and go there on foot. Most of them visit the markets around 3 to 5 p.m. on every market day. And they mostly buy vegetables, fruits, and fishes. Weekly markets provide employment opportunities for those who want to be merchants, and also contribute to the increase of farmers' income, because some traders(18.8%) are farmers who periodically visit markets to sell agricultural products. On the other hand, they function as a general food materials markets to neighboring residents. From these facts, both traders and consumers want weekly markets sustained. Therefore, these markets need to be protected by institutional assistance in spite of being informal markets.

• International Commerce and Information Review
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• v.11 no.4
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• pp.289-312
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• 2009

Under the circumstance of increasing international trade volumes and limitation of customs human resources, it is necessary to shift the customs' revenue collection activities and audit method from a transaction-based approach to an account-based approach. Thus, in 1997, U.S. Customs services established the Account Management Program. The Account Management Program is designed to increase importer compliance and improve customer service through one-on-one interaction with business entities and a designated Customs representative(Account Manager). The Account Management Program is a comprehensive process that includes the following stages and activities ; selection of a potential Account, establishment of the Account, management of the Account. In 2009, Korea Customs service introduced and executed the Account Management Program. But owing to its early stages, Korea Customs service does not suggest effective direction of development of the AM program. So I can propose the following improvements of the Account Management Program in Korea. Firstly, the Account Managers have to be assigned more traders than AEOs(Authorized Economic Operators). Secondly, it is necessary that Customs service appoints part-time port Account Managers to help more traders to improve customs compliance. Thirdly, thought should be given as to Account can be expanded to encompass both small and medium enterprises(SME) by providing customs brokers managing their customs business on the behalf of the SME with the Account Managers. Lastly, Customs service has to establish performance measures and action plan for the Account Management Program.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.14
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• pp.51-72
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• 2000

The International Chamber of Commerce introduced in September 1999 its new publication Incoterms 2000(ICC Publication No 560). The ICC was building on the past experiences in its revision works. I have discussed and commented constructively some main features and problems of the new set of terms. Incoterms 2000 takes into account, like already its predecessor did, the possibility that the parties may decide to communicate electronically and replace a paper transport document by an equivalent electronic data interchange message. This possibility will certainly be much more used under the present set of terms. Incoterms 2000 is well recognised by the international legal community, taking into account also the endorsements by UNCITRAL to its predecessor in the early 90's. Incoterms 2000 does not have major competitors remaining. However, the ICC still faces a battle to convince more traders to refer to its terms and to teach traders to understand and to apply them correctly. Incoterms 2000 is a tool for international trade created by a global business organisation. Its members decide every day if and to what extent they make use of this tool. The members of the ICC have participated actively in the drafting and commenting of Incoterms 2000 and thereby shown again a great deal of dynamism in creating rules for their own everyday use. Under these circumstances, "ship's rail approach" related to delivery point, risks and costs should be replaced by "on board approach" under FOB, CFR and CIF terms.

• Journal of Korea Society of Digital Industry and Information Management
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• v.13 no.3
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• pp.1-9
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• 2017

Recently, Bitcoin which is digital currency and cryptocurrency is getting worldwide attention since Bitcoin has an ability to replace legal tender unlike other existing cyber currency. Especially, most Bitcoin trading is done between two traders such as P2P method and it does not require a third-party to make sure reliability and it records every transaction details, so it is more transparent then traditional financial trade, so the number of users is increasing. However, Bitcoin, which has been recognized for transparency, confidentiality and stability among traders has recently been threatened by illegal transactions such as money laundering and the attack on the exchange. These threats to Bitcoin are becoming social problems. At first, it seems that most of the digital currency is difficult to get hacked due to the Blockchain technology. However, threats such as digital money leaks by user account hacking and paralyzing the servers are increasing. In this paper, it will examine the features of the Bitcoin and the threatening elements to secure marketability of digital currency such as Bitcoin and receive more interest from public in domestic. The paper will examine the problems of Blockchain technology on speculative transactions and fraudulent behavior by analyzing the problems of Bitcoin transaction. Lastly, it will propose ways to make transparent and secure digital currency transactions.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.37 no.4
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• pp.202-211
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• 2014

Pairs trading is a type of arbitrage investment strategy that buys an underpriced security and simultaneously sells an overpriced security. Since the 1980s, investors have recognized pairs trading as a promising arbitrage strategy that pursues absolute returns rather than relative profits. Thus, individual and institutional traders, as well as hedge fund traders in the financial markets, have an interest in developing a pairs trading strategy. This study proposes pairs trading rules (PTRs) created from a price ratio between securities (i.e., stock index futures) using rough set analysis. The price ratio involves calculating the closing price of one security and dividing it by the closing price of another security and generating Buy or Sell signals according to whether the ratio is increasing or decreasing. In this empirical study, we generate PTRs through rough set analysis applied to various technical indicators derived from the price ratio between KOSPI 200 and S&P 500 index futures. The proposed trading rules for pairs trading indicate high profits in the futures market.

• SUVANNABHUMI
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• v.9 no.2
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• pp.51-89
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• 2017

Strategically situated between the East-West maritime crossroads, the peoples of Southeast Asia over the centuries witnessed the comings and goings of traders from territories from East Asia, South Asia, West Asia and Europe. There were also those from North America that crossed the Pacific for commercial profits in this region. Foreign traders undoubtedly in the course of their visits and sojourns had liaisons with local women, some engaged in marriages. Offspring of these interracial miscegenation possessed rather unique characteristics. As a community, they were identified with the Malay term, peranakan, from the root word, "anak" meaning "child," hence "offspring" or "descendent". Specific terms - Baba Nyonya, Tionghoa-Selat, Chitty, Jawi Pekan, Pashu, Kristang - referred to particular groups. Although socially they appeared 'neither here nor there', members of mixed parentage were able to carve an especial niche in the local environment throughout Southeast Asia, conspicuously in urban, port-cities where trade and commerce predominated. Following in the footsteps of their progenitor, the Peranakan acted as intermediaries, comprador between foreign and indigenous enterprises, profiting financially and socially from trade and commerce. Tapping on the author's personal experiences and first-hand observations, complementing with oral sources, and support from secondary materials, this present essay explores, discusses, and analyzes the eclectic sociocultural practices and traditions of the Baba Nyonya of George Town, Penang. Purposeful intention is to further enlighten our understanding, and in turn, our appreciation, of these ever increasingly diminishing communities and their cultures across Southeast Asia.

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.33-49
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• 2023

Purpose - The purpose of this study is to examine the option selection and optimal trading of informed traders in KOSPI 200 options market based on the PIN (probability of informed trading) model of Easley et al.(2002). Design/methodology/approach - This study uses TAQ (trade and quote) data provided by Korean Exchanges (KRX) which contains all the bids and trades recorded during the continuous auction trading hours for the KOSPI 200 options between May 2019 and September 2020. Findings - First, there was no difference in the PIN between call and put options in the 2019 data, but the PIN of put options was slightly higher in 2020. Second, regardless of the type of option, the PIN was higher for in-the-money (ITM) options, and the PIN of out-of-the-money (OTM) options was the same as or slightly higher than that of at-the-money (ATM) options. Third, we found that the PIN decreases as trading liquidity increases, and fourth, the PIN increased sharply as the expiration date approached, especially for OTM options, while ITM and ATM options showed relatively weak effects. Fifth, for foreign and institutional investors, the periodicity of orders was observed in milliseconds, especially for foreign investors, where the periodicity of orders was clear and frequent in OTM options. The results suggest that the purpose of option trading varies depending on the moneyness from the perspective of the informed trader.