agreement on cooperation for the sustainable development of the mekong river basin

THE SUSTAINABLE DEVELOPMENT OF TREE CROPS AND THE PREVENTION OF VEGETATION FIRES IN SOUTH SUMATRA, INDONESIA pptx

Ngày tải lên : 08/03/2014, 10:20

... destruction because of fire. The seriousness of the threat to Indonesia’s forests has prompted the European Commission to reorient its development co-operation with Indonesia to focus on the sustainable ... range of projects in the field of conservation and sustainable forest management. The funds for this support have been donated in the form of grants. The importance of the fire issue cannot ... of concern to the regional office of the Ministry of Forestry and Estate Crops in South Sumatra after the widespread smoke haze pollution of 1997. As part of our commitment to sustainable forest...

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

Ngày tải lên : 20/06/2014, 18:20

... Introduction In light of rapidly growing cross-border trading volumes, the sophistication of information technology, financial market deregulation, and the ongoing integration and harmonisation of the ... sectors. In Europe, other issues have driven the quest for the optimal structure for the post-trade industry. The launch of the European Monetary Union, par- ticularly the introduction of the euro, has ... Options Clearing Corporation OECD Organisation for Economic Cooperation and Development OFT Of ce of Fair Trading OMLX OM London Exchange OTC over -the- counter p. page PBOT Philadelphia Board of...

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

Ngày tải lên : 20/06/2014, 18:20

... builds on the findings of the previous chapters and consists of four matrices. These provide the foundation for an assessment of the impact of various network strategies on efficiency. The matrices ... 8 compares these conclusions with the case study findings. Final conclusions are then drawn regarding the impact of network strategies on the efficiency of European clearing. Based on these find- ings, ... common feature in the context of derivatives trading is the employment of position limits, which are set by either the exchange or clearing house. Position limits constrain the number of contracts...

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

Ngày tải lên : 20/06/2014, 18:20

... between the partners. 108 Also, the higher the level of integration through a certain initiative, the stronger the potential effect of any given initiative on the structure of the Value Provision ... to the complexity of measuring and quantifying the savings from the reductions in back -of ce costs, these savings are not analysed in the context of this study. For the purpose of this study, the indicator ... costs of connecting to a clearing house, which can comprise initial informational, search and contracting costs. These costs include the compilation of necessary data and information, consultations...

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

Ngày tải lên : 20/06/2014, 18:20

... not associated with the final conclusions of this study. The findings of this study do not necessarily reflect the views of the individuals interviewed in the context of this study. The majority of the oral ... questionnaire to their team. Prior interaction was therefore considered essential for conveying the benefits of contributing to the research and to enhance the interviewees’ understanding of the nature ... higher fee income for the clearer. 41 Nonetheless, the interviewed clearing members’ general perception of the relevance of the cost of capital was marginal: The cost of funding for us as a bank...

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

Ngày tải lên : 20/06/2014, 18:20

... cents for the hedge in index options. Lastly, CC&G charges €1.56 for clearing services. 70 This helps to provide first evidence of the existence of economies of scale on the part of the clearing houses. ... comparison of these production costs to the GCMs’ commissions exceeds the scope of this study, but the overview of clearing members’ costs of production provided here serves to clarify further the structural ... scale’ business in the electronic world Thereislittle economic justification to clear on a small scale. 139 Despite these limitationsand constraining factors, theexpert inquiry nonethe- less revealed...

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

Ngày tải lên : 20/06/2014, 18:20

... example, results in a doubling of the number of contracts traded, but at the same time also to a bisection of the contract value. Therefore, the value of the contracts traded ultimately remains ... effects on the first and second levels impact one another are also examined (section 6.1.1.3). Additionally, the spill-over of the first and second level network effects on to other parts of the transaction ... electronic format, which is then usable for further processing, and when the process of transferring transaction information from the execution venue to the clearing house is automated. The use of...

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

Ngày tải lên : 20/06/2014, 18:20

... terms of efficiency gains, from the implementation of a Single CCP. Nonetheless, these clearers will presumably only adopt a Single CCP approach if they have the means to control the rules of clear ... situation of the involved exchanges, r ather than those of the partnering clearing houses. Nonetheless, these dynamics ultimately shaped the benefits and drawbacks of the clearing link; they thus ... allowed pre- liminary conclusions to be drawn about the impact of these network strategies on the efficiency of clearing. The preliminary conclusions drawn from these 303 Checking theory against reality...

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

Ngày tải lên : 20/06/2014, 18:20

... evidence of whether strong forms of lock-in exist on the GCM level, the fact that five of CCorp’s clearing members chose to disinter- mediate their European clearer supports the conclusions of the ... allows conclusions on the economies of scale and scope for both CCPs, which in turn enables the derivation of the GCL’s net supply-side scale effects for the two clearing houses. For ECAG, the implementation ... members of CCorp’s clearing network. This is largely due to the competitive situation of the partnering clearing houses at the time of the implementation of the GCL, but the specifics of the initiative...

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Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_12 pdf

Ngày tải lên : 20/06/2014, 18:20

... global positioning. 407 The future network economy – development of the clearing industry INTRODUCING THE FUTURE NETWORK ECONOMY – DEVELOPMENT OF THE CLEARING INDUSTRY Future Development of the European ... recommendations for the industry’s future development. The following sections summarise and build on the insights obtained from the previous chapters to create an outlook on the future development of the ... diminishes the economic appeal of self-clearing, because their costs of production increase. 8 8 A detailed interpretation of these results and their possible effect on the structure of the VPN...

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Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_13 ppt

Ngày tải lên : 20/06/2014, 18:20

... objective The focus of this study lies on the identification of the most cost-efficient organisation of clearing service provision in the light of globalised capital markets, and the question of which structures ... Introducing the future network economy – development of the clearing industry The findings of this study led to conclusions on the future clearing industry structure and delivered recommendations on the ... with the final conclusions of this study. The findings of this study thus do not necessarily reflect the views of the individuals interviewed in the context of this study. Any proposition that is forwarded...

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Clearing Services for Global Markets A Framework for the Future Development of the Clearing Industry_14 pdf

Ngày tải lên : 20/06/2014, 18:20

... facilitate the tracking of the questionnaires. The questionnaire will be made anonymous for the statistical analysis and the publication. For details regarding the anonymity and non-disclosure, ... that the fees in the chart represent a snapshot of that particular date. r Particularly in the case of equity options/futures, the number of necessary contracts varies depending on the value of the ... 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 contracts in the selected benchmark...

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

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_3 pot

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 pot

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_6 pptx

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

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_8 potx

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

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

Ngày tải lên : 21/06/2014, 07:20

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