{"id":38774,"date":"2026-07-08T11:56:28","date_gmt":"2026-07-08T10:56:28","guid":{"rendered":"https:\/\/smart.stream\/%e6%ac%a7%e5%b7%9e%e3%83%87%e3%83%aa%e3%83%90%e3%83%86%e3%82%a3%e3%83%96%e5%b8%82%e5%a0%b4%e3%81%ab%e3%81%af%e9%83%a8%e5%93%81%e3%81%8c%e6%8f%83%e3%81%a3%e3%81%a6%e3%81%84%e3%81%be%e3%81%99%e3%80%82\/"},"modified":"2026-07-08T11:56:28","modified_gmt":"2026-07-08T10:56:28","slug":"european-derivatives-markets-have-the-pieces-now-they-need-the-foundation","status":"publish","type":"post","link":"https:\/\/smart.stream\/ja\/european-derivatives-markets-have-the-pieces-now-they-need-the-foundation\/","title":{"rendered":"\u6b27\u5dde\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u5e02\u5834\u306b\u306f\u90e8\u54c1\u304c\u63c3\u3063\u3066\u3044\u307e\u3059\u3002\u4eca\u5fc5\u8981\u306a\u306e\u306f\u57fa\u76e4\u3067\u3059\u3002"},"content":{"rendered":"<div class=\"right\">\n<p>\u8457\u8005\uff1aThejaswi Gopal\u3001\u526f\u793e\u9577\u3001\u30af\u30e9\u30a4\u30a2\u30f3\u30c8\u30fb\u30a8\u30f3\u30b2\u30fc\u30b8\u30e1\u30f3\u30c8\u3001\u30c7\u30ea\u30d0\u30ea\u30fc(Smart Fees)\u3001Smartstream<\/p>\n<p>2026\u5e746\u670816\u65e5\u3001FIA IDX 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class=\"right\">\n<p>\u30d1\u30cd\u30eb\u306eAI\u306b\u95a2\u3059\u308b\u8b70\u8ad6\u306f\u92ed\u3044\u3082\u306e\u3067\u3057\u305f\u3002\u73fe\u5728\u3001\u5e0c\u5c11\u306a\u30ea\u30bd\u30fc\u30b9\u306f\u5224\u65ad\u529b\u3067\u3042\u308a\u3001\u30c7\u30fc\u30bf\u3067\u306f\u306a\u3044\u3068\u3044\u3046\u89b3\u5bdf\u306f\u3001\u307e\u3055\u306b\u6b63\u3057\u3044\u3082\u306e\u3067\u3059\u3002AI\u304b\u3089\u771f\u306e\u4fa1\u5024\u3092\u5f97\u3066\u3044\u308b\u4f01\u696d\u306f\u3001\u5f31\u3044\u30b7\u30b0\u30ca\u30eb\u3092\u65e9\u671f\u306b\u691c\u51fa\u3059\u308b\u305f\u3081\u306bAI\u3092\u4f7f\u7528\u3057\u3066\u3044\u308b\u4f01\u696d\u3067\u3059\u3002\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30ca\u30eb\u306a\u6469\u64e6\u306e\u84c4\u7a4d\u3001\u6d41\u52d5\u6027\u306e\u30b7\u30d5\u30c8\u3001\u4eba\u9593\u304c\u6c17\u3065\u304f\u306b\u306f\u6642\u9593\u304c\u304b\u304b\u308a\u3059\u304e\u308b\u76f8\u95a2\u95a2\u4fc2\u306e\u5909\u5316\u306a\u3069\u3067\u3059\u3002  <\/p>\n<p>\u8a00\u53ca\u3055\u308c\u306a\u304b\u3063\u305f\u306e\u306f\u3001\u305d\u308c\u3092\u53ef\u80fd\u306b\u3059\u308b\u3082\u306e\u3067\u3059\u3002\u4e0d\u5b8c\u5168\u307e\u305f\u306f\u4e00\u8cab\u6027\u306e\u306a\u3044\u69cb\u9020\u306e\u30c7\u30fc\u30bf\u306b\u57fa\u3065\u3044\u3066\u69cb\u7bc9\u3055\u308c\u305fAI\u306f\u3001\u5f31\u3044\u30b7\u30b0\u30ca\u30eb\u3092\u691c\u51fa\u3057\u307e\u305b\u3093\u3002\u30b9\u30d7\u30ec\u30c3\u30c9\u30b7\u30fc\u30c8\u304c\u898b\u3064\u3051\u305f\u3067\u3042\u308d\u3046\u540c\u3058\u554f\u984c\u3092\u3001\u30a8\u30f3\u30bf\u30fc\u30d7\u30e9\u30a4\u30ba\u30b3\u30b9\u30c8\u3067\u898b\u3064\u3051\u308b\u3060\u3051\u3067\u3059\u3002\u771f\u306e\u5236\u7d04\u306f\u30e2\u30c7\u30eb\u306e\u54c1\u8cea\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u53d6\u5f15\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u5168\u4f53\u304c\u3001\u4eba\u9593\u304c\u30c7\u30fc\u30bf\u306e\u554f\u984c\u3092\u4e0b\u6d41\u3067\u4fee\u6b63\u3059\u308b\u3053\u3068\u3092\u524d\u63d0\u306b\u8a2d\u8a08\u3055\u308c\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u306f\u4e0d\u5b8c\u5168\u306a\u30c7\u30fc\u30bf\u3092\u53d7\u3051\u53d6\u308a\u3001\u624b\u4f5c\u696d\u3067\u4fee\u6b63\u3057\u307e\u3059\u3002AI\u306f\u305d\u306e\u4e0a\u306b\u4f4d\u7f6e\u3057\u3001\u51fa\u529b\u306f\u5165\u529b\u3092\u53cd\u6620\u3057\u307e\u3059\u3002      <\/p>\n<p>\u30d1\u30cd\u30eb\u304c\u7c21\u5358\u306b\u89e6\u308c\u305f\u3001\u9032\u884c\u4e2d\u306e\u30b3\u30b9\u30c8\u898f\u5f8b\u306e\u30b7\u30d5\u30c8\u3082\u3042\u308a\u307e\u3059\u3002\u30aa\u30f3\u30d7\u30ec\u30df\u30b9AI\u306f\u3001\u5927\u898f\u6a21\u306a\u30af\u30e9\u30a6\u30c9\u30d9\u30fc\u30b9\u306e\u30c8\u30fc\u30af\u30f3\u6d88\u8cbb\u3088\u308a\u3082\u5927\u5e45\u306b\u5b89\u4fa1\u3067\u3042\u308b\u3053\u3068\u304c\u8a3c\u660e\u3055\u308c\u3066\u3044\u307e\u3059\u30022025\u5e74\u306b\u8fc5\u901f\u306b\u52d5\u3044\u305f\u4f01\u696d\u306f\u73fe\u5728\u3001\u7279\u5b9a\u306e\u30e6\u30fc\u30b9\u30b1\u30fc\u30b9\u5411\u3051\u306e\u5c02\u7528\u30e2\u30c7\u30eb\u3078\u306e\u7d71\u5408\u3092\u9032\u3081\u3066\u3044\u307e\u3059\u3002\u5927\u898f\u6a21\u306a\u6c4e\u7528\u30af\u30e9\u30a6\u30c9AI\u306e\u7d4c\u6e08\u6027\u304c\u6a5f\u80fd\u3057\u3066\u3044\u306a\u3044\u305f\u3081\u3067\u3059\u3002\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u696d\u52d9\u304b\u3089\u771f\u306e\u4fa1\u5024\u3092\u5f97\u308b\u4f01\u696d\u306f\u3001\u30c7\u30fc\u30bf\u54c1\u8cea\u3092\u5f8c\u4ed8\u3051\u3067\u306f\u306a\u304f\u524d\u63d0\u6761\u4ef6\u3068\u3057\u3066\u6271\u3046\u4f01\u696d\u3067\u3059\u3002  <\/p>\n<\/div>\n<h4>\u62c5\u4fdd\u52b9\u7387\u306f\u6d3b\u7528\u3055\u308c\u3066\u3044\u306a\u3044\u8cc7\u672c\u30ec\u30d0\u30fc\u3067\u3059<\/h4>\n<div class=\"right\">\n<p>\u30d1\u30cd\u30eb\u306e\u3088\u308a\u5b9f\u8df5\u7684\u306a\u89b3\u5bdf\u306e\u4e00\u3064\u306f\u3001\u8cc7\u672c\u5236\u7d04\u306b\u95a2\u3059\u308b\u3082\u306e\u3067\u3057\u305f\u3002\u7c73\u56fd\u306e\u9280\u884c\u306f\u6b27\u5dde\u306e\u50b5\u5238\u306b\u591a\u984d\u306e\u8cc7\u672c\u3092\u6295\u5165\u3057\u3066\u3044\u307e\u3059\u3002\u6b27\u5dde\u306e\u53c2\u52a0\u8005\u306b\u3068\u3063\u3066\u306e\u6a5f\u4f1a\u306f\u3001\u3088\u308a\u591a\u304f\u306e\u8cc7\u672c\u3092\u898b\u3064\u3051\u308b\u3053\u3068\u3067\u306f\u306a\u304f\u3001\u3088\u308a\u512a\u308c\u305f\u62c5\u4fdd\u306e\u6d41\u52d5\u6027\u3068\u30de\u30fc\u30b8\u30f3\u6700\u9069\u5316\u3092\u901a\u3058\u3066\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306e\u5727\u529b\u3092\u53d6\u308a\u9664\u304f\u3053\u3068\u3067\u3059\u3002  <\/p>\n<p>\u30ea\u30a2\u30eb\u30bf\u30a4\u30e0\u306e\u62c5\u4fdd\u52d5\u54e1\u3001CCP\u9593\u30cd\u30c3\u30c6\u30a3\u30f3\u30b0\u3001\u30d8\u30a2\u30ab\u30c3\u30c8\u6700\u9069\u5316\u306f\u3001\u898f\u5236\u7de9\u548c\u3092\u5f85\u3064\u3053\u3068\u306a\u304f\u8cc7\u672c\u6d88\u8cbb\u3092\u524a\u6e1b\u3057\u307e\u3059\u3002AI\u306b\u306f\u3053\u3053\u3067\u7279\u5b9a\u306e\u5f79\u5272\u304c\u3042\u308a\u307e\u3059\u3002\u6700\u9069\u3067\u306a\u3044\u62c5\u4fdd\u914d\u5206\u30d1\u30bf\u30fc\u30f3\u3092\u7279\u5b9a\u3057\u3001\u76f8\u6bba\u307e\u305f\u306f\u30de\u30fc\u30b8\u30f3\u524a\u6e1b\u306e\u6a5f\u4f1a\u3092\u793a\u3059\u3053\u3068\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u3053\u308c\u306b\u306f\u3001\u3069\u3053\u306b\u3069\u306e\u62c5\u4fdd\u304c\u3042\u308b\u304b\u3001\u30d8\u30a2\u30ab\u30c3\u30c8\u306f\u4f55\u304b\u3001\u3069\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u304c\u30ab\u30d0\u30ec\u30c3\u30b8\u3092\u5fc5\u8981\u3068\u3057\u3066\u3044\u308b\u304b\u306b\u3064\u3044\u3066\u306e\u3001\u30af\u30ea\u30fc\u30f3\u3067\u900f\u660e\u6027\u306e\u3042\u308b\u30c7\u30fc\u30bf\u304c\u5fc5\u8981\u3067\u3059\u3002\u7e70\u308a\u8fd4\u3057\u306b\u306a\u308a\u307e\u3059\u304c\u3001\u30c7\u30fc\u30bf\u5c64\u304c\u5b9f\u73fe\u8981\u56e0\u3067\u3059\u3002\u3053\u308c\u3092\u56de\u907f\u3059\u308b\u8fd1\u9053\u306f\u3042\u308a\u307e\u305b\u3093\u3002    <\/p>\n<\/div>\n<h4>\u624b\u6570\u6599\u7ba1\u7406\u304c\u5168\u4f53\u50cf\u306b\u3069\u3046\u9069\u5408\u3059\u308b\u304b<\/h4>\n<div class=\"right\">\n<p>\u30d1\u30cd\u30eb\u304c\u53d6\u308a\u4e0a\u3052\u305f\u3059\u3079\u3066\u306e\u30c8\u30d4\u30c3\u30af\u306b\u5171\u901a\u3059\u308b\u7cf8\u306f\u3001\u30af\u30ea\u30fc\u30f3\u3067\u6a19\u6e96\u5316\u3055\u308c\u305f\u3001\u9069\u5207\u306b\u7ba1\u7406\u3055\u308c\u305f\u30c7\u30fc\u30bf\u3092\u6301\u3064\u4f01\u696d\u304c\u3001AI\u5c0e\u5165\u3001\u62c5\u4fdd\u6700\u9069\u5316\u3001\u53d6\u5f15\u6642\u9593\u306e\u5ef6\u9577\u3001\u65b0\u5546\u54c1\u30b5\u30dd\u30fc\u30c8\u306a\u3069\u3001\u3059\u3079\u3066\u306b\u304a\u3044\u3066\u3088\u308a\u8fc5\u901f\u306b\u52d5\u3051\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002\u53d6\u5f15\u6240\u9593\u3067\u65ad\u7247\u5316\u3055\u308c\u305f\u30c7\u30fc\u30bf\u3092\u7ba1\u7406\u3057\u7d9a\u3051\u3066\u3044\u308b\u4f01\u696d\u306f\u3001\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30ca\u30eb\u306a\u7a0e\u91d1\u3092\u6255\u3044\u7d9a\u3051\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002 <\/p>\n<p>\u3053\u306e\u7a0e\u91d1\u304c\u6700\u3082\u9855\u8457\u306b\u73fe\u308c\u308b\u306e\u306f\u3001\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u306e\u624b\u6570\u6599\u7ba1\u7406\u3067\u3059\u3002\u8907\u6570\u306e\u6b27\u5dde\u53d6\u5f15\u6240\u306b\u308f\u305f\u3063\u3066\u696d\u52d9\u3092\u884c\u3046\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u3059\u3079\u3066\u306e\u53d6\u5f15\u6240\u3067\u7570\u306a\u308b\u8acb\u6c42\u69cb\u9020\u306b\u5bfe\u51e6\u3059\u308b\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002\u6599\u91d1\u30b9\u30b1\u30b8\u30e5\u30fc\u30eb\u306f\u5909\u66f4\u3055\u308c\u307e\u3059\u3002\u8acb\u6c42\u66f8\u306f\u7570\u306a\u308b\u5f62\u5f0f\u3067\u5c4a\u304d\u307e\u3059\u3002\u8acb\u6c42\u3055\u308c\u305f\u91d1\u984d\u3068\u652f\u6255\u3046\u3079\u304d\u91d1\u984d\u3092\u7167\u5408\u3059\u308b\u3053\u3068\u306f\u6642\u9593\u304c\u304b\u304b\u308a\u3001\u8acb\u6c42\u30a8\u30e9\u30fc\u306f\u672c\u6765\u3088\u308a\u3082\u9577\u304f\u691c\u51fa\u3055\u308c\u307e\u305b\u3093\u3002\u6b27\u5dde\u306e\u5e02\u5834\u69cb\u9020\u304c\u9032\u5316\u3057\u3001\u4f01\u696d\u304c\u3088\u308a\u591a\u304f\u306e\u53d6\u5f15\u6240\u3067\u53d6\u5f15\u3059\u308b\u306b\u3064\u308c\u3066\u3001\u3053\u306e\u8907\u96d1\u3055\u306f\u5897\u3059\u3070\u304b\u308a\u3067\u3059\u3002     <\/p>\n<p><a href=\"https:\/\/smart.stream\/ja\/solutions\/smart-fees\/\">Smart Fees<\/a>\u306f\u3001Smartstream\u306e\u624b\u6570\u6599\u7ba1\u7406\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u3067\u3042\u308a\u3001\u8907\u96d1\u306a\u8907\u6570\u53d6\u5f15\u6240\u696d\u52d9\u306b\u304a\u3051\u308b\u53d6\u5f15\u6240\u3001\u30d6\u30ed\u30fc\u30ab\u30fc\u3001\u30ab\u30a6\u30f3\u30bf\u30fc\u30d1\u30fc\u30c6\u30a3\u306e\u624b\u6570\u6599\u306e\u7167\u5408\u3068\u7ba1\u7406\u3092\u81ea\u52d5\u5316\u3059\u308b\u305f\u3081\u306b\u69cb\u7bc9\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306b\u3088\u308a\u3001\u4f01\u696d\u306f\u8acb\u6c42\u30a8\u30e9\u30fc\u3092\u691c\u51fa\u3057\u3001\u624b\u4f5c\u696d\u306e\u30aa\u30fc\u30d0\u30fc\u30d8\u30c3\u30c9\u3092\u524a\u6e1b\u3057\u3001\u6b27\u5dde\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u5e02\u5834\u5168\u4f53\u3067\u624b\u6570\u6599\u4f53\u7cfb\u304c\u5909\u5316\u3057\u7d9a\u3051\u308b\u4e2d\u3067\u3082\u5bfe\u5fdc\u3067\u304d\u308b\u53ef\u8996\u6027\u3068\u5236\u5fa1\u3092\u5f97\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002 <\/p>\n<p>\u5f53\u793e\u306f\u4e16\u754c\u306e\u30c8\u30c3\u30d7100\u9280\u884c\u306e\u3046\u306170\u884c\u3068\u5354\u50cd\u3057\u3066\u3044\u307e\u3059\u3002\u30d1\u30bf\u30fc\u30f3\u306f\u4e00\u8cab\u3057\u3066\u3044\u307e\u3059\u3002\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u306b\u6700\u3082\u8fc5\u901f\u306b\u53d6\u308a\u7d44\u3080\u696d\u52d9\u306f\u3001\u305d\u306e\u4e0b\u306b\u3042\u308b\u30c7\u30fc\u30bf\u898f\u5f8b\u306e\u554f\u984c\u3092\u3059\u3067\u306b\u89e3\u6c7a\u3057\u3066\u3044\u308b\u696d\u52d9\u3067\u3059\u3002 <\/p>\n<p>Smartstream\u304c\u8cb4\u793e\u306e\u624b\u6570\u6599\u304a\u3088\u3073\u7d4c\u8cbb\u7ba1\u7406\u696d\u52d9\u3092\u3069\u306e\u3088\u3046\u306b\u30b5\u30dd\u30fc\u30c8\u3067\u304d\u308b\u304b\u306b\u3064\u3044\u3066\u3054\u76f8\u8ac7\u3055\u308c\u305f\u3044\u5834\u5408\u306f\u3001<a 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