development of the rate law for a simple system

... pilot data in each centre clarified any coding queries Double data entry was completed for 10% of the toolkit data using a separate database and the study statistician carried out data validation ... on the two databases for each centre The maximum error rate was set at 5% Any centre that had an error rate above this was required to complete double data entry for all their data Inter-rater ... of thumb for EFA, a sample size of at least 500 units would have been required An iterative EFA was therefore carried out which could take account of the available sample size The first iteration...

Ngày tải lên: 11/08/2014, 16:23

... details Department of Mathematics, Faculty of Education, Alexandria University, Alexandria, Egypt 2Faculty of Industrial Education, Helwan University, Cairo, Egypt Authors’ contributions The ... of interesting analytical problem that arising in the field of spectral analysis of differential operators, see [4-6] In [3], the author studied the equiconvergence theorem of the problem −y ... equiconvergence formula n,f (x) − (o) n,f (x) → as n ® ∞ is similar So as long as the proof of the equiconvergence relation is carried out by means of the contour integration, we obtain the uniform convergence...

Ngày tải lên: 20/06/2014, 22:20

... details Department of Mathematics, Faculty of Education, Alexandria University, Alexandria, Egypt 2Faculty of Industrial Education, Helwan University, Cairo, Egypt Authors’ contributions The ... of interesting analytical problem that arising in the field of spectral analysis of differential operators, see [4-6] In [3], the author studied the equiconvergence theorem of the problem −y ... equiconvergence formula n,f (x) − (o) n,f (x) → as n ® ∞ is similar So as long as the proof of the equiconvergence relation is carried out by means of the contour integration, we obtain the uniform convergence...

Ngày tải lên: 20/06/2014, 22:20

... functions of graphs, and showed that the reciprocals of zeta functions of regular graphs are explicit polynomials A zeta function of a regular graph G associated with a unitary representation of the ... identity by using a linear algebraic method Stark and Terras [9] gave an elementary proof of this formula, and discussed three different zeta functions of any graph Various proofs of Bass’ Theorem were ... fundamental group of G was developed by Sunada [11,12] Hashimoto [4] treated multivariable zeta functions of bipartite graphs Bass [2] generalized Ihara’s result on the zeta function of a regular...

Ngày tải lên: 08/08/2014, 01:20

... (ranging between 900 to 100 m) Some typical species of the bushy formations of the area, Thymus vulgaris, Lavandula latifolia and Koeleria vallesiana, appear as nonindicative of the groups that ... phoenicea, Salvia lavandulifolia, Satureja intricata and Erinacea anthyllis can be found The almost complete absence of nemoral species in the understory and the frequent appearance of Quercus ... land in Canada and Northwestem USA, Vancouver, BC Pfister RD (1977) Ecological classification of forest land in Montana and Idaho Proceed ecological classification of forest land in Canada and Northwestern...

Ngày tải lên: 08/08/2014, 19:21

Ngày tải lên: 05/08/2014, 15:21

... 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

... importantly, collateral management ensures that margin requirements are covered by available collateral If there is a collateral shortfall, a collateral call is generated If there is collateral ... 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 ... (or their guarantors) until the transaction is complete.124 In a bilateral market, each counterparty has a legal relationship with as well as a separate gross exposure to each of its counterparties.125...

Ngày tải lên: 20/06/2014, 18:20

... monitoring the clearing status of transactions and monitoring margins via a single interface At the same time, clearing houses update and replace their software and systems periodically, typically on a ... 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 ... In case of a guarantee, a six-month to one-year interest rate can be employed, depending on the nature of the guarantee Additionally, it has to be taken into account that guarantees incur further...

Ngày tải lên: 20/06/2014, 18:20

... 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 ... 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 ... volume of trading of a broker or a bank The clearest example of that are the so-called black-box traders, who trade through an automated system, doing arbitrage of various kinds, or some kind of...

Ngày tải lên: 20/06/2014, 18:20

... 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 ... vital As the analysis has shown, the organisation of derivatives clearing could serve as a role model for other parts of the European market infrastructure As outlined above, to evaluate the ... 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...

Ngày tải lên: 20/06/2014, 18:20

... 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 ... each network establishes an installed base of physical capital, in the form of previously sold equipment, and human capital, in the form of network participants who are trained to operate that...

Ngày tải lên: 20/06/2014, 18:20

... access to the away market: Many of the Asian brokerage firms tend to be 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 ... 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 ... comparable 7.4.2 Transaction Cost Impact Matrix r The Transaction Cost Impact Matrix analysed whether or not the demand- and supply-side scale effects of each network strategy translate into a...

Ngày tải lên: 20/06/2014, 18:20

... 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 ... investments in the clearing system itself, the implementation of Phase I and the preparatory work for Phase II gave rise to additional costs, mainly legal expenses; the fact that the partnering clearing...

Ngày tải lên: 20/06/2014, 18:20

... usually not have the leeway to benefit from and further leverage their installed base r Single CCP initiatives (as a particular form of M &A initiatives) have the drawback that the majority of ... concentration patterns, it makes strategic sense for the managers of the clearing house to think of the network as separate zones of concentrated use It is then logical to focus the establishment of ... 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

... qualitative data that was used as the basis for the analyses of Chapters and 11.1.4 Chapter – Analysing costs of derivatives clearing – transaction cost studies To determine the efficiency impact of the ... aware of clearing costs; many of them view obtaining clearing membership as a viable cost-cutting strategy The cost analysis also provided the critical step of generating a quantitative estimate ... 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

... 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 ... 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 ... estimate the effort in mandays No … did you have to adapt your operational/back-office procedures? Yes (no of man-days) (no of man-days) (no of man-days) (no of man-days) (no of...

Ngày tải lên: 20/06/2014, 18:20

... in the domain of attraction of the normal law Therefore, the class of random variables in Theorems 1.1 is of very broad range Remark 1.5 Essentially, the open problem should be whether Theorem ... domain of attraction of the normal law, if there exist constants an > 0, bn ∈ R such that S n − bn d −→ N, an where N is the standard normal random variable We say that {Xn }n∈N satisfies the ... establish the ASCLT for self-normalized partial sums of random variables in the domain of attraction of the normal law, we will show that the ASCLT holds under a fairly general growth condition on dk...

Ngày tải lên: 20/06/2014, 21:20

... 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 ... to the national infrastructures is free to so as long as it meets the standards set by the SEC In addition, any organisation can apply for approval and registration as a clearing agency’.266 Although ... 2007, NASDAQ, Borse Dubai and OMX announced a series of corporate transactions that will culminate in NASDAQ and OMX forming the NASDAQ OMX Group.277 2.6 Summary This chapter set the stage for the...

Ngày tải lên: 21/06/2014, 07:20

... monitoring the clearing status of transactions and monitoring margins via a single interface At the same time, clearing houses update and replace their software and systems periodically, typically on a ... 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 ... In case of a guarantee, a six-month to one-year interest rate can be employed, depending on the nature of the guarantee Additionally, it has to be taken into account that guarantees incur further...

Ngày tải lên: 21/06/2014, 07:20