... practitioners The theory employed was fully detailed The potential of the approach was assessed on a real population GENERAL OUTLINE OF THE APPROACH Ideally, optimizing matings in real dairy cattle ... Matings a j and mating b j remain for final consideration Then, the possible matings assigned to the ordered pair (action 1, action 2) are: a j and a j, b j and b j, a j and b j, b j and a j Each ... habits already well-known as harmful for genetic gains and additionally detrimental for a good management of genetic variability Because of the future challenging situation for dairy cattle selection,...
Ngày tải lên: 14/08/2014, 13:22
... effective management of operational risk has always been a fundamental element of a bank’s risk management programme As a result, sound operational risk management is a reflection of the effectiveness ... evaluations of operational risk include all the areas described in the principles for the management of operational risk Supervisors also seek to ensure that, where banks are part of a financial ... The board of directors should approve and review a risk appetite and tolerance statement 12 for operational risk that articulates the nature, types, and levels of operational risk that the bank...
Ngày tải lên: 21/02/2014, 11:20
Guidelines for the Nutritional Management of Children With Renal Disease pot
... as bread, pasta and biscuits may be offered but are generally unpopular The aim is to maintain the plasma urea below 20mmol, however it is important to note that there are other reasons why the ... Healthy eating advice with mono/polyunsaturated fat as an alternative to saturated fat in the diet should be advised Weight reducing advice may be necessary RENAL TRANSPLANTATION 5.1 Initial Management ... amount of feed and therefore fluid consumed Expressed breast milk can be fortified with energy and may be mixed with another formula if insufficient amounts are available Farley's First has the...
Ngày tải lên: 05/03/2014, 12:20
Báo cáo Y học: The S100A8/A9 protein as a partner for the cytosolic factors of NADPH oxidase activation in neutrophils doc
... In all cases, the optimal amount of arachidonic acid was determined and used to analyze the effect of S10 0A8 /A9 on oxidase activation After an incubation of 10 at 20 °C, the oxidase activity was ... its high affinity for Ca2+, S10 0A8 /A9 had a full charge of bound Ca2+ To check whether the potentiation of oxidase activation by S10 0A8 /A9 was due to a change in affinity of the flavocytochrome b for ... an optimal amount of arachidonic acid determined for each assay of oxidase activation [12] The rate of O2– production by the activated NADPH oxidase was calculated from the rate of the superoxide...
Ngày tải lên: 18/03/2014, 01:20
Future R&D Environments A Report for the National Institute of Standards and Technology potx
... but also of their size and shape Managing size and shape on the nanoscale allows the creation of a class of materials called nanoparticles These materials have a unique combination of physical, ... challenges are the design of the perm-selective membranes, the matrix for the support of the cells, and the system for maintaining them in a viable state The last decade has seen major advances ... genomes of other plant and animal species have been largely in the development of experimental and computational methods for extremely rapid data generation and analysis, as well as in the management...
Ngày tải lên: 23/03/2014, 01:20
Báo cáo khoa học: "A Program for the Machine Translation of Natural Languages" pdf
... realized is what we have been calling a translation The domain of this translation function is a certain class of texts in some language, and its range is a class of texts in another language A ... Abstract automata, at least the kind we are interested in, can be thought of as a collection or matrix of information-retaining cells The information retained by any particular group of cells at any ... program, or a translation program embodied in a machine? Perhaps we should first examine the question of what we mean by a translation program The idea of a computer program abstracted from any particular...
Ngày tải lên: 23/03/2014, 13:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_1 pptx
... timely and well worth reading, given the many changes afoot in the areas of exchange regulation and clearing.’ HARVEY L PITT Chief Executive Of cer of Kalorama Partners and former Chairman of the ... independent academic methodology The findings of the book not necessarily represent the of cial stance of Barclays Capital The International Capital Market Association’s sponsorship of this publication aims ... that clearing is a topic that has always been regarded as sort of an operational thing The exchanges’ matching engines have had the glamour But I think in the long run the value added of clearing...
Ngày tải lên: 20/06/2014, 18:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_2 pptx
... risk. 86 Variation margin is a payment made when the market price of a transaction has changed.87 It is therefore a risk management tool to cover the latest exposure Variation margin is called for ... netting and risk management services A CCP’s risk management service is sophisticated in its assumption of risk by novation, the provision of a central performance guarantee, centralised risk management ... to the collateral that has to be deposited at the clearing house for each transaction and serves risk management purposes Margins, cross-margining and risk management are explained in more detail...
Ngày tải lên: 20/06/2014, 18:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_4 potx
... compliance with a clearing house’s risk management requirements can be regarded as an offset for the risk assumed by the CCP for the clearing members and for the savings in risk management gained ... positions of the partner clearing house in the form of an omnibus account.136 This means that the opening of a position at one CCP can automatically lead to the creation of an equal and opposite ... operational costs, leads to higher risks and costs.96 The more standardised the process for the valuation of securities, margin calls and payments of dividends, the higher the reduction in back -of ce...
Ngày tải lên: 20/06/2014, 18:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_5 potx
... relevance of cost of capital was mainly based on the following arguments: r collateral-rich clearers have enough capital available; r clearing houses can serve as a cheap form of custody; and r clearing ... department as well as the ability to evaluate opportunities for alternative, more beneficial uses of the capital that is tied up in the clearing house Generally, the higher up in management and the ... firms that offer individual traders access to trading platforms and clearing services Arcades offer traders a place where they can work together, rent a desk and trade for their own account at reduced...
Ngày tải lên: 20/06/2014, 18:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_6 doc
... mainly affecting the indirect cost categories All of these factors are detailed in the following paragraphs Whereas the validation of the data on clearing house charges revealed that the above-mentioned ... of cost of capital and risk management costs 5.3.2 Transaction cost analyses – clearing members r The comparative analysis of per-contract fees charged by the major horizon- tally and vertically ... acceptance of a wider range of collateral, harmonisation and improvement of risk methods, and the introduction of standard processes as examples Certainly one of the most popular external measures...
Ngày tải lên: 20/06/2014, 18:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_7 pdf
... marketplaces as a means to increase scale are the level of automation and the use of standard interfaces The higher the level of automation and the more common the use of standard interfaces, the ... collateral management and information effects can positively impact the liquidity and allocation of risk and capital – thus increasing the efficiency of capital markets.62 Additionally, the information ... effects can also spill over on to other parts of the transaction value chain The trust and collateral management effects can positively impact the liquidity and allocation of capital Negative effects...
Ngày tải lên: 20/06/2014, 18:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_9 docx
... smaller; they don’t have the capital of a Morgan Stanley or a Goldman Sachs, so the Asian clearing houses can play a role in representing the financial standing and credit standing of their smaller ... necessarily an advantage to the other side, and there is a cost involved So links are difficult things; unless you can persuade both parties that there is an advantage to each of them there is always ... intermediaries in the market are covering the liabilities they have, then they will have to manage them more actively, banks themselves will have to manage them more actively That means that yesterday Refer...
Ngày tải lên: 20/06/2014, 18:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_10 pdf
... network strategies have varying potential for the realisation of network effects and economies of scale and scope The Transaction Cost Impact Matrix and the Efficiency Impact Matrix analyse whether ... deployment of a European clearing intermediary.121 All it is is a cheaper way of offering GCM services, at the end of the day And the reason that the link doesn’t have more customers is because the ... Efficiency Gains LOW HIGH Profit Decrease CMAG Theoretical Assessment of Clearing Links as in Chapter CMPG Theoretical Assessment of Clearing Links as in Chapter CMAR GCL Assessment for ECAG and CCorp...
Ngày tải lên: 20/06/2014, 18:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_12 pdf
... 5.2.3, the same caveats apply to the figures presented in the following.1 For details on the quantitative analysis and the underlying assumptions, refer to Appendix An additional caveat applies to the ... Regarding the issue of governance, the M &A and the Single CCP case studies revealed that ceding partial control over a clearing house in the context of a merger as a trade-off for efficiency gains ... to analyse their customers’ usage patterns in detail The clearing link strategy for Europe should be formulated on the basis of these findings For the purpose of identifying the value of any particular...
Ngày tải lên: 20/06/2014, 18:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_13 ppt
... management processes • Continuous risk management processes • Adaptation of risk management structures and architecture Risk Management Costs • Management of adaptations, e.g connection to a new ... platform, new release management, testing, etc • Continuous management of IT • Continuous management of IT • Continuous management of IT • Integration of software and hardware • Integration of ... of intra-day margin calls • Collateral/cash deposited at clearing house for variation margin • Amount of liquidity at customer tied to ensure funding of intra-day margin calls • Collateral/cash...
Ngày tải lên: 20/06/2014, 18:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_14 pdf
... house charges, which are accounted for at a later stage of the calculation of total clearing house charges; refer to step 1.3) r Based on the publicly available information on the number of cleared ... structures for the benchmark clearing members and the remaining 213 European clearers, as classified in Appendix This assumption was due to a lack of data that would have allowed for an accurate assessment ... clearers The main caveat concerning the calculation relates to the following sensitive assumptions: r The calculation of the efficiency impact was based on assumptions regarding the impact of...
Ngày tải lên: 20/06/2014, 18:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_2 pdf
... regulators are also taking careful note of the risks that clearing houses have to manage For similar reasons, other financial market policymakers have convened to establish appropriate standards for ... will have a higher impact on the market than the deficiencies of any one participant Faulty CCP risk management has the potential to severely disrupt the markets as well as other components of the ... margining, risk management • Simplify, standardise and rationalise back-office processes • Cash/collateral management • Reduce operational errors Figure 2.10 • Novation • Efficient cash/collateral management...
Ngày tải lên: 21/06/2014, 07:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_3 pot
... compliance with a clearing house’s risk management requirements can be regarded as an offset for the risk assumed by the CCP for the clearing members and for the savings in risk management gained ... positions of the partner clearing house in the form of an omnibus account.136 This means that the opening of a position at one CCP can automatically lead to the creation of an equal and opposite ... operational costs, leads to higher risks and costs.96 The more standardised the process for the valuation of securities, margin calls and payments of dividends, the higher the reduction in back -of ce...
Ngày tải lên: 21/06/2014, 07:20
Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_4 pot
... relevance of cost of capital was mainly based on the following arguments: r collateral-rich clearers have enough capital available; r clearing houses can serve as a cheap form of custody; and r clearing ... department as well as the ability to evaluate opportunities for alternative, more beneficial uses of the capital that is tied up in the clearing house Generally, the higher up in management and the ... firms that offer individual traders access to trading platforms and clearing services Arcades offer traders a place where they can work together, rent a desk and trade for their own account at reduced...
Ngày tải lên: 21/06/2014, 07:20