Abstract
To dematerialize the securities such as stocks or cooporate bonds, the securities were registered to account in the registration agencies which were connected as tree. This tree structure had the advantage in the management of the securities those were issued large amount and number of brands of securities were limited.
But when the securities such as account receivables or advance notes are dematerialized, number of brands of the securities increases extremely. In this case, the management of securities with tree structure becomes very difficult because of the concentration of information to root of the tree. To resolve this problem, using the graph structure is assumed instead of the tree structure. When the securities are kept with tree structure, the delivery path of securities is unique, but when securities are kept with graph structure, path of delivery is not unique. In this report, we describe the requirement of the delivery path of securities, and we describe selecting method of the path.
