Transforming Glycoscience: A Roadmap for the Future pptx

Transforming Glycoscience: A Roadmap for the Future pptx

Transforming Glycoscience: A Roadmap for the Future pptx

... reserved. Transforming Glycoscience: A Roadmap for the Future Copyright © National Academy of Sciences. All rights reserved. Transforming Glycoscience: A Roadmap for the Future 28 PREPUBLICATION ... E Glossary Copyright © National Academy of Sciences. All rights reserved. Transforming Glycoscience: A Roadmap for the Future Transfor...
Ngày tải lên : 29/06/2014, 09:21
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Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_1 pptx

Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_1 pptx

... Exchange mn. million MTF Multilateral Trading Facility N .A. , n .a. not applicable NASD National Association of Securities Dealers NASDAQ National Association of Securities Dealers Automated Quotation ... impartial contribution to the ongoing industry debate over the future of clearing. The International Capital Market Association (ICMA) Clearing Services for Global Markets A Fra...
Ngày tải lên : 20/06/2014, 18:20
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Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_2 pptx

Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_2 pptx

... exchange- traded derivatives in the past decade has been accompanied by an increasing internationalisation of the markets and their clearing arrangements. 46 Insti- tutional and individual traders ... as novation, netting and risk management, as well as transaction/position man- agement, collateral management and cash management. The scope of netting and risk management services that a...
Ngày tải lên : 20/06/2014, 18:20
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Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_6 pptx

Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_6 pptx

... collateral management optimisation through savings in cost of capital and back-office costs. Additionally, as more collateral is held and managed at a ‘secured place’, i.e. with a t rustworthy and ... the utilisation of the cleared contracts’ value as an output variable has the advantage of not being affected by the different contract sizes, 94 there are disadvantages related to pr...
Ngày tải lên : 21/06/2014, 07:20
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Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_7 pptx

Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_7 pptx

... clearing are erratic; 141 the volume of contracts available for clearing is therefore also erratic. The capacity of the clearing house infrastructure has to be configured to accommodate the greatest ... impact indirect costs only for clearing members that are active in and have a demand for the additional products and mar kets or for the additional scope offered through...
Ngày tải lên : 21/06/2014, 07:20
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Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_9 pptx

Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_9 pptx

... London Clearing House Ltd (LCH) and the Paris-based clear ing house Clearnet SA. This network initiative provides valuable material for a case study analysis for various reasons. The transaction ... strategies have vary- ing potential for the realisation of network effects and economies of scale and scope. The Transaction Cost Impact Matrix and the Efficiency Impact Matrix an...
Ngày tải lên : 21/06/2014, 07:20
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Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_10 pptx

Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_10 pptx

... is the Chairman. 205 The operating subsidiaries LCH.C Ltd and LCH.C SA are run by boards of their own. Whereas the two operating com- panies remain separate for legal and regulatory purposes, the ... by the group. In fact, the merger has translated into costs that are not balanced by equally great internal savings for some clearing members. On the other hand, the CM PR-G /...
Ngày tải lên : 21/06/2014, 07:20
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Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_4 potx

Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_4 potx

... the nature of the guarantee. Additionally, it has to b e taken into account that guarantees incur further costs, such as fee payments to the respective guarantor, or are related to larger ‘haircuts’, ... in bilaterally cleared markets. 61 A correct calculation of the cost of capital would thus also have to take these aspects into account. Again, due to the complexity of this calcu...
Ngày tải lên : 20/06/2014, 18:20
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Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_5 potx

Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_5 potx

... gather quantitative cost data via the questionnaire was expected ex ante, a ‘workaround’ enabling a cost calcula- tion was devised. The workaround consisted of collecting qualitative infor- mation ... requires the individual to have knowledge about the internal rates charged by the treasury department as well as the ability to evaluate opportunities for alternative, more ben...
Ngày tải lên : 20/06/2014, 18:20
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Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_6 doc

Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_6 doc

... vital. As the analysis has shown, the organisa- tion of derivatives clearing could serve as a role model for other parts of the European market infrastructure. As outlined above, to evaluate the ... fully understanding the respective value provision of their clearer. It is therefore doubtful whether they can accurately assess the adequacy of intermediary charges. The remaini...
Ngày tải lên : 20/06/2014, 18:20
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