Academic literature on the topic 'Modes of fund clearing'
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Journal articles on the topic "Modes of fund clearing"
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BIELECKI, TOMASZ R., IGOR CIALENCO, and SHIBI FENG. "A DYNAMIC MODEL OF CENTRAL COUNTERPARTY RISK." International Journal of Theoretical and Applied Finance 21, no. 08 (December 2018): 1850050. http://dx.doi.org/10.1142/s0219024918500504.
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We introduce a dynamic model of the default waterfall of derivatives central counterparties and propose a risk sensitive method for sizing the initial margin, and the default fund and its allocation among clearing members. Using a Markovian structure model of joint credit migrations, our evaluation of the default fund takes into account the joint credit quality of clearing members as they evolve over time. Another important aspect of the proposed methodology is the use of the time consistent dynamic risk measures for computation of the initial margin and the default fund. We carry out a comprehensive numerical study, where, in particular, we analyze the advantages of the proposed methodology and its comparison with the currently prevailing methods used in industry.
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Cockfield, Geoff, Uttam Shrestha, and Cathy Waters. "Evaluating the potential financial contributions of carbon farming to grazing enterprises in Western NSW." Rangeland Journal 41, no. 3 (2019): 211. http://dx.doi.org/10.1071/rj18032.
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This article reports on modelling of the farm-level financial implications of changing land use from rangelands grazing to ‘carbon farming’ (vegetation-based carbon sequestration) in north-western New South Wales, Australia. Four model farm businesses were created by combining information from existing carbon projects funded under the Australian Government’s Emissions Reduction Fund (ERF), data from surveys of farm businesses in the study regions and biomass estimations from the pasture growth model, GRASP. Scenarios for each of the businesses were: baseline (current grazing system); clearing vegetation to increase carrying capacity; establishing a carbon project; and establishing a carbon project and reinvesting some of the additional income in exclusion fencing to increase carrying capacity on non-project areas. The carbon project scenarios were based on either of two approved carbon sequestration methodologies within the ERF: avoided deforestation; and human-induced regeneration. In comparing the financial outcomes of these scenarios across the modelled businesses, we found potential advantages for landholders in having projects where livestock carrying capacity was at medium to low levels for the study region and where woody vegetation biomass potential was medium to high for the region. The case for sequestration projects on land with higher carrying capacity and therefore higher opportunity cost was much less compelling. In most cases, reinvestment in exclusion fencing resulted in similar financial returns to just having a carbon project but farm business income increased in later years.
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Papenfuß, Ulf, Lars Steinhauer, and Benjamin Friedländer. "Clearing the fog for an overall view on state-owned enterprises: quality of aggregate holdings reporting by public administrations in 12 countries." International Review of Administrative Sciences 85, no. 1 (February 16, 2017): 116–36. http://dx.doi.org/10.1177/0020852316681445.
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In the context of current debates on sustainable public service provision, austerity, debts and cutback management, the governance and management of and in state-owned enterprises is a crucial issue. An aggregate holdings report is an important tool for public administrations to provide accountability and the necessary overall view on the institutional service provision structures of core administration and state-owned enterprises. On the basis of a developed quality index with 175 test criteria, this study analyses the diffusion of aggregate holdings reports in 17 countries and the quality of 12 existing reports at the national level. First, the study provides a conceptual contribution for assessing aggregate holdings reports and future research on the issues of the model categories. Second, for an empirical contribution, the analysis enhances our state of knowledge on aggregate holdings report diffusion and quality patterns. Findings show that, in many cases, public administrations do not meet the requirements from theory and practice. Newer Organisation for Economic Co-operation and Development and European Union members reach comparably higher quality scores. This comparative study offers new insights that can enhance the sustainable public management and control of state-owned enterprises. Points for practitioners The Organisation for Economic Co-operation and Development’s OECD Guidelines on Corporate Governance of State-Owned Enterprises, which were published after an intensive consultation process in 2005 and revised in 2015, demand public authorities to develop aggregate holdings reports that cover all SOEs, and make them a key disclosure tool directed to the general public and politicians. This study develops a quality model for assessing the quality of aggregate holdings reports. The model can also answer questions that are often raised in reform debates, such as ‘Which is the best aggregate holdings report?’ or ‘Which aggregate holdings report can I use as a reference to further develop my own aggregate holdings report?’. The model is a conceptual contribution and the empirical results can be used for international bench-learning. They are also useful for international organisations such as the European Union, Organisation for Economic Co-operation and Development, World Bank, International Monetary Fund, Chartered Institute of Public Finance & Accounting and development aid/cooperation agencies in each country. The results of this study indicate that policymakers at the national and international levels should give more emphasis to the diffusion and quality of aggregate holdings reports and should reflect on establishing and revising legal obligations for aggregate holdings reports because the recommendations of the Organisation for Economic Co-operation and Development guidelines, as a soft-law approach, are often not put into practice.
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KRABS, WERNER, and STEFAN PICKL. "A GAME-THEORETIC TREATMENT OF A TIME-DISCRETE EMISSION REDUCTION MODEL." International Game Theory Review 06, no. 01 (March 2004): 21–34. http://dx.doi.org/10.1142/s0219198904000058.
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We present a game-theoretic treatment of the so-called TEM model which leads to new results in the area of time-discrete dynamical games. The presented TEM-model describes the economical interaction between several actors (players) who intend to minimize their emissions (Ei) caused by technologies (Ti) by means of expenditures of money (Mi) or financial means, respectively. The index stands for the ith player, i=1,…,n. The players are linked by technical cooperations and the market, which expresses itself in the nonlinear time-discrete dynamics of the Technology-Emissions-Means-model, in short: TEM-model. In the sense of environmental protection, the aim is to reach a state which is mentioned in the Kyoto Protocol by choosing the control parameters such that the emissions of each player become minimized. The focal point is the realization of the necessary optimal control parameters via a played cost game, which is determined by the way of cooperation of the actors. In application to the work of G. Leitmann [1974], but not regarding solution sets as feasible sets, the τ-value of S. H. Tijs and T. S. H. Driessen [1986] is taken as a control parameter. This leads to a new class of problems in the area of 1-convex games. We want to solve the problem by a non-cooperative and cooperative treatment. We prove that the core which is gained by cooperation of the players is nonempty and can be used as feasible set for our control problem. With this solution a reasonable model for a Joint-Implementation process is developed, where its necessary fund is represented by the non-empty core of the analyzed game. Steering with parameters of this feasible set, the TEM-model can be regarded as a useful tool to implement and verify a technical Joint-Implementation Program. For the necessary data given to the Clearing House () we are able to compare the numerical results with real world phenomena.
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Albanese, Claudio, Yannick Armenti, and Stéphane Crépey. "XVA metrics for CCP optimization." Statistics & Risk Modeling 37, no. 1-2 (March 1, 2020): 25–53. http://dx.doi.org/10.1515/strm-2017-0034.
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AbstractBased on an XVA analysis of centrally cleared derivative portfolios, we consider two capital and funding issues pertaining to the efficiency of the design of central counterparties (CCPs). First, we consider an organization of a clearing framework, whereby a CCP would also play the role of a centralized XVA calculator and management center. The default fund contributions would become pure capital at risk of the clearing members, remunerated as such at some hurdle rate, i.e. return-on-equity. Moreover, we challenge the current default fund Cover 2 EMIR sizing rule with a broader risk based approach, relying on a suitable notion of economic capital of a CCP. Second, we compare the margin valuation adjustments (MVAs) resulting from two different initial margin raising strategies. The first one is unsecured borrowing by the clearing member. As an alternative, the clearing member delegates the posting of its initial margin to a so-called specialist lender, which, in case of default of the clearing member, receives back from the CCP the portion of IM unused to cover losses. The alternative strategy results in a significant MVA compression. A numerical case study shows that the volatility swings of the IM funding expenses can even be the main contributor to an economic capital based default fund of a CCP. This is an illustration of the transfer of counterparty risk into liquidity risk triggered by extensive collateralization.
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Yang, Melody (Fan). "China’s new fund custodian rules." Journal of Investment Compliance 21, no. 2/3 (November 23, 2020): 171–74. http://dx.doi.org/10.1108/joic-09-2020-0028.
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Purpose To explain the key amendments to China’s rules governing fund custody business and highlight the implications for private fund managers. Design/methodology/approach The article analyses, from the perspective of private fund managers, the key amendments to the rules governing fund the custody business in China in terms of custody of fund assets, the fund settlement and clearing process, valuation, disclosure and reports, investment supervision, review of distributions and governance. Findings The revised rules governing the fund custody business allow private fund managers to use their global custodian in China locally and leave room for managers and custodians to agree on their responsibilities and risk allocation in the fund contract. Originality/value The article offers practical guidance on how private fund managers may contractually allocate responsibilities and risks between themselves and fund custodians in the fund contract.
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Friesz, Melinda, Kira Muratov-Szabó, Andrea Prepuk, and Kata Váradi. "Risk Mutualization in Central Clearing: An Answer to the Cross-Guarantee Phenomenon from the Financial Stability Viewpoint." Risks 9, no. 8 (August 19, 2021): 148. http://dx.doi.org/10.3390/risks9080148.
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Central counterparties’ (CCPs) role is to take over the counterparty risk during trading. To fulfill its role, a CCP needs to operate a multi-level guarantee system that can absorb losses of clearing members’ defaults. Our main question is how the size of the guarantee system changes and how the cross-guarantee undertaking changes between clearing members and markets if the CCP merges the guarantee systems of different markets. This question is essential from a financial stability perspective since the size and the structure of the guarantee system will affect the loss-absorbing capacity of a CCP. We used Monte Carlo simulation to simulate a 30 year time-series for three different products, which gave us the basis for the value-at-risk-based margin calculation and the stress-test-based default fund calculation. Results show that merging the guarantee systems will always decrease the total value of the guarantees because the margin will decrease, which cannot be offset by the increase in the default fund size. We conclude that it is not optimal from the financial stability perspective to merge the guarantee systems. However, if the CCP wants to provide cheaper services, or if the clearing members are willing to cross-guarantee each other, merging is more suitable.
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Sorrentino, Elmer, and Pamela Villafuerte. "Comparison between two assessment modes for critical clearing times in electrical power systems." Electric Power Systems Research 82, no. 1 (January 2012): 95–97. http://dx.doi.org/10.1016/j.epsr.2011.08.015.
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Gowen, Rebecca, and Steven G. Bray. "Bioeconomic modelling of woody regrowth carbon offset options in productive grazing systems." Rangeland Journal 38, no. 3 (2016): 307. http://dx.doi.org/10.1071/rj15084.
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Agricultural land has been identified as a potential source of greenhouse gas emissions offsets through biosequestration in vegetation and soil. In the extensive grazing land of Australia, landholders may participate in the Australian Government’s Emissions Reduction Fund and create offsets by reducing woody vegetation clearing and allowing native woody plant regrowth to grow. This study used bioeconomic modelling to evaluate the trade-offs between an existing central Queensland grazing operation, which has been using repeated tree clearing to maintain pasture growth, and an alternative carbon and grazing enterprise in which tree clearing is reduced and the additional carbon sequestered in trees is sold. The results showed that ceasing clearing in favour of producing offsets produces a higher net present value over 20 years than the existing cattle enterprise at carbon prices, which are close to current (2015) market levels (~$13 t–1 CO2-e). However, by modifying key variables, relative profitability did change. Sensitivity analysis evaluated key variables, which determine the relative profitability of carbon and cattle. In order of importance these were: the carbon price, the gross margin of cattle production, the severity of the tree–grass relationship, the area of regrowth retained, the age of regrowth at the start of the project, and to a lesser extent the cost of carbon project administration, compliance and monitoring. Based on the analysis, retaining regrowth to generate carbon income may be worthwhile for cattle producers in Australia, but careful consideration needs to be given to the opportunity cost of reduced cattle income.
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Banich, Marie T., Kristen L. Mackiewicz Seghete, Brendan E. Depue, and Gregory C. Burgess. "Multiple modes of clearing one's mind of current thoughts: Overlapping and distinct neural systems." Neuropsychologia 69 (March 2015): 105–17. http://dx.doi.org/10.1016/j.neuropsychologia.2015.01.039.
Full textDissertations / Theses on the topic "Modes of fund clearing"
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Chatterjee, Souvick. "Why do mosquitoes use two modes of drinking? An analytical test of a blockage clearing hypothesis." Thesis, Virginia Tech, 2015. http://hdl.handle.net/10919/78118.
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Mosquitoes drink using a pair of in-line muscular pumps in the head that draw liquid food through a long drinking channel termed as proboscis. Experimental investigations of mosquito drinking using synchrotron x-ray indicate two modes of drinking, a predominantly occurring continuous mode in which the anterior cibarial and posterior pharyngeal pumps expand cyclically at a constant phase difference and an isolated burst mode in which the pharyngeal pump expansion is several orders of magnitude larger than in the continuous mode. The objective of this thesis is to explain the mechanics and functional implication of this two-pump dual mode drinking of a mosquito. A reduced order mathematical model suggests that the primary role of the pharyngeal pump is in the burst mode. Since the precise geometry of the pump during drinking is yet not known, the drinking mechanism is modeled using different pump geometries based on morphological constraints in the animal. The model shows the continuous mode as being more effective in terms of energy expenditure, while the burst mode creates a large pressure difference across the proboscis which might be used to clear an obstruction in the channel or prime the channel. The hypothesis regarding the ability of a mosquito to self-clear an obstruction is analyzed by modeling the presence of an air bubble inside the system. The model indicates that air bubbles maybe able to stop flow during continuous mode drinking, and these same bubbles can be cleared by switching temporarily to burst mode drinking.Master of Science
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"银行卡跨境支付资金清算效率研究." Doctoral diss., 2019. http://hdl.handle.net/2286/R.I.53534.
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abstract: 本论文研究的目的是针对银行卡跨境支付行为，根据不同的跨境支付渠道，结合资金清算的不同模式下的资金清算效率进行研究，并对现有清算系统内，运用理论和模型，对如何提高银行卡跨境资金清算进行阐述分析，力图在现有跨境资金清算金融设施的基础上，对银行卡跨境资金清算的流动性管理、头寸控制、增加清算周期等因素进行研究分析，进而尝试提出清算机制和流程的优化设计，以促进跨境资金提高周转效率，节约社会交易成本和持卡人资金成本。
论文将对相关银行卡跨境支付、清算基本流程、涉及的相关系统进行说明，并对全球和世界主要国家的银行卡市场进行介绍，结合我国银行卡跨境业务的现状、跨境支付清算涉及的主要环节、清算系统，通过不同层次、不同模型的分类比对，提出提高银行卡跨境支付资金清算的关键节点，并加以聚焦、深入测算、推导。研究的最终目的是期望通过对以上的分析，能够对银行卡资金清算参与主体对清算模式的选择、流动性节约、头寸管理等有所帮助，让清算主体能籍此对支付通道、清算模式、账户管理等选择上有所参考，促进卡组织（支付系统）籍此提高清算效率，从而降低整体交易和资金成本，提高支付行业整体资金资源的使用效率。Dissertation/Thesis
Doctoral Dissertation Business Administration 2019
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Chang, Ping Kun, and 張炳坤. "The Studies of Clearing Fund in Security Market." Thesis, 2000. http://ndltd.ncl.edu.tw/handle/15432943764679490448.
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Chu, Juwin, and 邱筑筠. "The Reserch of The Clearing Fund System In Taiwan Security Maket." Thesis, 1996. http://ndltd.ncl.edu.tw/handle/17477239028670440414.
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Huang, Kuan-Yu, and 黃冠瑜. "Study on Metaphor Modes Applied to Print Works of World Wide Fund for Nature." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/4593p5.
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碩士國立臺中科技大學
商業設計系碩士班
100
Due to the threats of greenhouse effect, global warming and sea level rising on environment and ecology, today the earth is facing extinction crisis. Confronting a series of such problems, mankind must face squarely and think about which manner should be adopted to avoid the arrival of destruction, while in the meantime should turn the crisis into an opportunity through a variety of environmental protection means. In order to avoid wild animals suffering culling and reduce the destruction of natural environment, World Wildlife Fund for Nature (WWF) was founded in response to environmental protection. So far the Foundation has been founded for 50 whole years and has held many cases of successful activities, in addition to that theses activities are well-planned, the conveying effect of print media also can not be underestimated. This study takes print works of WWF as initial exploration study to comprehend environmental issues, to understand the metaphorical implications, manifestations, etc. of WWF print works through analysis of metaphor modes, and to compare use ratios of metaphorical items in metaphor modes used in print works of environmental protection &; public welfare category and in print works of other commercial nature by means of theoretical bases proposed by relevant scholars. This paper focuses on adopting analysis of WWF print works as research purpose, and uses metaphor modes in literature as ways of analysis. First, classified samples of WWF print works as significance level and manifestations to explore background implications in metaphor modes of the Foundation and the techniques presented in the picture; next, conducted verifications against relevant theories and research findings proposed by scholars to assess whether the manifestations of metaphorical modes use in print works of environmental protection &; public welfare category and in print works of commercial nature would be influenced because of different demands. Through the statistics and analysis of this study, a total of six research findings are proposed; in addition, since WWF is an international organization, so it encompasses a wide range of researches, future researchers can take a further step to study the print works of other countries, understand the cultural background and profound meaning of the country in-depth, and explore cultural differences of our country and other countries. It is expected that such research method can promote interests of other researchers for environmental design or designers of the World Wide Fund for Nature. 1. “Appearance level” type in metaphorical significance level, appearance similarity is mostly used. 2. “Relationship level” type in metaphorical significance level, causality is mostly used and applied most widely. 3. “Substantive level” type in metaphorical significance level, is the type with least number of uses in the significance level, the research findings reveal that in the use of metaphor the use amount of substantive level would be affected by the different demand natures of print works. 4. “Image metaphor” type in metaphorical manifestations, combinational use has highest use ratio, followed by juxtaposition, and substitution is least frequently used. 5. “Image and literal metaphor” type in metaphorical manifestations, its use ratio is just lower than image metaphor, and belongs to a manifestation of wide range of levels and higher use ratio. 6. “Literal metaphor” type in metaphorical manifestations accounts for only 5%, is a manifestation of least use amount.
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Meiring, Gezina Aletta. "Regsaspekte van die rekenarisering van die betalingstelsel." Thesis, 1998. http://hdl.handle.net/10500/17431.
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Text in Afrikaans, abstract in Afrikaans and EnglishThe development of sophisticated computer technology and the consequent computerisation of the payment system has had a far-reaching effect on fund transfer systems all over the world. The most important purpose of this thesis is to indicate the nature of an electronic fund transfer; to set out the relationships of the parties involved in an electronic funds transfer and to show by comparison with other legal systems where our law may be deficient in the regulation of the computerised payment system. At the outset, the nature and functions of money are compared to electronic fund transfers and a distinction drawn between paper-based transactions and electronic fund transfers. In this regard, electronic fund transfers as method of payment is also discussed. Automatic computer processing also gave rise to a variety of new kinds of financial services. A distinction is made between customer-initiated systems (A TM' s, EFTPOS and home-banking services) and systems used by the banks to effect electronic funds transfers between banks and to send financial messages. In this regard, the settlement function of clearing houses and the legal nature thereof are examined. A description of a local clearing house, the ACB, is included as well as a discussion of the clearing of cheques, the moment of payment of cheques and the status of the ACB. Other relevant legal aspects of the computerisation of the payment system which are examined and discussed are the following: the use of the so-called electronic signature; the regulation of risks in electronic payments and the creation of sufficient security measures; the criminal liability of an accused in the case of an unauthorised withdrawal or transfer; questions and problems surrounding evidential matters; the putting into operation of procedures to correct errors and the creation of an ombudsman to settle and resolve disputes; cheque truncation and the right of an individual to privacy in the milieu of electronic payments. Finally, the legal relationships between the parties involved in a credit transfer and the moment of payment is examined. Regulation in this regard is also considered.
Die ontwikkeling van gesofistikeerde rekenaartegnologie en die gevolglike rekenarisering van die betalingstelsel het 'n verreikende effek op die fondsoordragstelsels van banke regoor die wereld gehad. Die belangrikste doelstellings van hierdie proefskrif is gevolglik om die aard van 'n elektroniese fondsoordrag aan te dui; om die verhoudinge tussen die partye betrokke by 'n elektroniese fondsoordrag nader te omskryf en om by wyse van 'n regsvergelykende ondersoek aan te toon waar daar leemtes in ons reg ten opsigte van die regulering van die gerekenariseerde betalingstelsel bestaan. Die aard en funksies van geld is ter aanvang met elektroniese fondsoordrag vergelyk en 'n onderskeid is tussen papierbasistransaksies en elektroniese fondsoordragte getref. In hierdie verband is elektroniese fondsoordrag as betalingsmetode ook bespreek. Outomatiese rekenaarverwerking het ook tot 'n verskeidenheid van nuwe soorte finansiele dienste aanleiding gegee. Daar is onderskei tussen klient-geaktiveerde stelsels (OTM'e, EFTPOS en tuisbankdienste) en fondsoordragstelsels wat deur die banke aangewend word om elektroniese fondsoordragte tussen banke te bewerkstellig en om finansiele boodskappe te versend. In die verband is die verrekeningsfunksie van klaringshuise en die regsaard daarvan ondersoek. 'n Beskrywing van die werksaamhede van die ACB, as plaaslike klaringshuis, is hierby ingesluit asook 'n bespreking van die verrekening van tjeks, die tydstip van betaling van tjeks en die status van die ACB. Ander relevante regsaspekte van die rekenarisering van die betalingstelsel wat ondersoek en bespreek is, is die gebruik van die sogenaamde elektroniese handtekening; die risikoreeling in die elektroniese betalingsverkeer en die daarstelling van voldoende sekuriteitsprosedures; die strafregtelike aanspreeklikheid van 'n beskuldigde in die geval van 'n ongemagtigde onttrekking of oordrag; vrae en probleme rondom bewysregtelike aangeleenthede; die inwerkingstelling van foutoplossingsprosedures en die daarstelling van 'n ombudsman om geskille te voorkom en te besleg; tjekretensie en die reg van die individu op sy privaatheid in die milieu van die elektroniese betalingsverkeer. Laastens is die regsverhoudinge tussen die deelnemende partye en die tydstip van betaling in die geval van 'n kredietoordrag ondersoek, en oorweging is aan regulering in die verband geskenk.
Private law
LL. D.
Books on the topic "Modes of fund clearing"
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Fernandes, Santiago. A libertação econômica do mundo pelo esquecido plano Keynes. Rio de Janeiro, RJ: Nórdica, 1991.
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Price, J. M. A case study for probabilistic methods validation (MSFC Center Director's Disretionary fund final report, Project No. 94-26). [Huntsville, Ala.]: National Aeronautics and Space Administration, Marshall Space Flight Center, 1998.
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Staff, United Fund Hospital. A Clearing in the Crowd: Innovations in Emergency Services (Paper Series / United Hospital Fund of New York, 23). United Hospital Fund, 1994.
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Douglas W, Arner, Hsu Berry FC, Goo Say H, Johnstone Syren, Lejot Paul, and Tse Maurice Kwong-Sang. Part II Regulation of Banking, Securities, and Insurance, 3 Banking Regulation and the Hong Kong Monetary Authority. Oxford University Press, 2016. http://dx.doi.org/10.1093/law/9780198706472.003.0003.
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This chapter explains the legal and institutional framework for banking in Hong Kong. It discusses the regulation of financial intermediaries, products, and services in the context of a framework based largely on the Banking Ordinance, the Exchange Fund Ordinance, and the Clearing and Settlements Systems Ordinance, supported by ordinances derived from international best practice. The chapter summarizes the main functions of the Hong Kong Monetary Authority (HKMA). Established in 1993, the HKMA maintains Hong Kong as an international financial centre and ensures that Hong Kong’s legal and regulatory framework for banks is comprehensive and of an international standard. At the same time, the chapter argues, the system’s many divisions allow certain risks to remain unaddressed. A specific area of concern applies to financial conglomerates, in that there is no clear division of regulatory responsibility in the case of the insolvency of a financial conglomerate.
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Bache, Ian. 10. Cohesion Policy A New Direction for New Times? Oxford University Press, 2017. http://dx.doi.org/10.1093/hepl/9780199689675.003.0010.
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This chapter examines the European Union’s cohesion policy, aimed primarily at reducing the social and economic differences between EU regions. Academic analysis of cohesion policy has generated insights that have framed wider debates about the nature of the EU as a whole, particularly through the concept of multi-level governance. Moreover, while cohesion policy has taken up a growing share of the EU’s budget, its purpose, effectiveness, and durability have been increasingly challenged. Before analysing these issues, the chapter provides an overview of the emergence of cohesion policy, taking into account the Cohesion Fund and policy reform in the 1990s, 2006, and 2013. It then considers the implementation of cohesion policy and discusses five variants of the modes through which the policy handles day-to-day policy-making: the classical Community method, the regulatory policy mode, the distributional policy mode, policy coordination, and intensive transgovernmentalism.
Book chapters on the topic "Modes of fund clearing"
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McGill, Ross, and Naren Patel. "Trustee & Fund Accounting Services." In Global Custody and Clearing Services, 130–39. London: Palgrave Macmillan UK, 2008. http://dx.doi.org/10.1057/9780230592445_8.
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Wisniewski, Piotr. "The Management and Performance of Social Media Initial Public Offerings (IPOs)." In Analyzing the Strategic Role of Social Networking in Firm Growth and Productivity, 1–21. IGI Global, 2017. http://dx.doi.org/10.4018/978-1-5225-0559-4.ch001.
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Social media companies have increasingly used global stock exchanges to raise fresh capital needed to expand and commercialise their business models. Despite the soaring proliferation of social media interactions and improving economic fundamentals, many of the high-profile IPOs have underperformed on debut and in secondary trading. This chapter seeks to identify success and failure factors of social media stock market flotations from the operational, industrial and financial perspectives. The research features flagship social media IPOs comprised by the most representative social media Exchange Traded Fund (ETF), the Global X Social Media Index ETF (SOCL), which replicates the price and return performance of the globally recognised Solactive Social Media Total Return Index. The analysis sums up the early evidence of IPO organisation with regard to social media issuers and posits three decisive factors in this process related to: flotation timing, pricing and pre-IPO business integration. The research offers some practical recommendations for future social media IPOs as well as directions for further academic studies at the interface of social media industrial, economic and capital market activity. The following takeaways concerning social media IPOs emerge from the study: 1) Staging and timing: social media companies should mull flotations when a clear-cut path toward cash generation and accrual profits is observable (chronically cash deficient and unprofitable social media tend to underperform on debut and in post-IPO trading) and amid protracted bull markets so as to raise the odds of a propitious IPO climate; 2) Organisation and management: the success of social media going public decisions is a function of seamless IPO organisation (including conservative pricing, share dilution tied to envisaged liquidity and capital expenditure as well as trading and clearing system reliability); 3) Issuer characteristics: social media IPOs are facilitated by businesses commanding a dominant position on the home market, having a diversified core business (including exposure to non-media operations), coming on the stock market either as industry trendsetters or in the wake of successfully executed IPO benchmarks; 4) Factor coalescence: no isolated factor discussed in this chapter can fully explain the performance of a social media IPO – it is rather their combination and interconnectivity that can comprehensively attest to the success or failure of a going public strategy employed by a social media company. From the investment standpoint, the case study analysis demonstrates that a case-by-case (rather than sectoral) approach needs to be adopted for investors seeking to derive gains from social media IPOs, as passive exposure to the entire industry (e.g. via index tracking) is not per se a guarantor of market competitive investment performance.
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Lee, Ruben. "Exchanges." In Running the World's Markets. Princeton University Press, 2011. http://dx.doi.org/10.23943/princeton/9780691133539.003.0007.
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This chapter presents a series of case studies illustrating how specific exchanges have actually been governed in particular contexts. The following institutions and contexts are described in turn: the proposed iX merger between Deutsche Börse and the London Stock Exchange (LSE), and its subsequent collapse, in 2000; the “Penny Stocks Incident” at Hong Kong Exchanges and Clearing Ltd. in 2002; the attempted takeover of the LSE by NASDAQ over the period 2006–8; Euronext's purchase of London International Financial Futures and Options Exchange in 2001; the resignation of the chairman/CEO of the New York Stock Exchange in 2003; and the purchase by the “Murakami Fund” of a major block of shares in the Osaka Securities Exchange in 2005. A few brief general lessons from each case study are also identified.
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Gates, William R., and Mark E. Nissen. "Agent- and Web-Based Employment Marketspaces in the U.S. Department of Defense." In Encyclopedia of Information Science and Technology, First Edition, 74–80. IGI Global, 2005. http://dx.doi.org/10.4018/978-1-59140-553-5.ch015.
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Two modes of matching people with jobs prevail at present: hierarchical planning and distributed markets. Patterned after centrally planned (e.g., former Soviet-style) economies, hierarchical planning remains prevalent for matching job candidates to jobs internally within an organization. With evolving information technology, the internal job-matching process could be accomplished far more equitably and efficiently using Web-based markets. Intelligent agents offer excellent potential to help both employees and employers find one another in a distributed electronic marketspace. But realizing this potential goes well beyond simply changing the rules of internal job matching or making agent technology available to job searchers. Rather, the corresponding markets and technologies must be designed together to mutually accomplish the desired results (e.g., efficient and effective matching) and conform to necessary properties (e.g., market clearing, employer policies).
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Ivanov, Mikhail, Yulia Vertakova, and Vardan Mkrttchian. "Development and Implementation of Digital Tools, Neural Networks, and Cyber Control Systems in Sliding Modes." In Advances in Finance, Accounting, and Economics, 141–51. IGI Global, 2020. http://dx.doi.org/10.4018/978-1-7998-1104-6.ch009.
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This chapter seeks to understand the EU-ACP trade relations under the economic partnership agreement (EPA) arrangement and its implications on economic nationalism of developing nations with specific reference to Zimbabwe. The research strongly leans on the view that EPAs have little or no economic benefit to the ACP. Even though the EU tagged the ensuing trade relationship with the ACP as partnership, in the real sense, it is more of paternalism. This is especially so as the EU dictates the terms and the pace of the negotiation, owns the incentives (in the form of aid and technical assistance), and either dispenses or withdraws it at will, depending on the “behavior” of the ACP countries. In order to benefit from EPAs, ACP countries must fund their own economies. ACP states should also address internal political challenges before committing to multiple economic fronts such as the EPAs.
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Gilmore, Leigh. "Tainted Witness in Law and Literature." In Tainted Witness, 133–56. Columbia University Press, 2017. http://dx.doi.org/10.7312/columbia/9780231177146.003.0006.
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Chapter five examines two examples of unsympathetic women witnesses and the transits of their testimony across an assemblage of legal and literary modes of judgment: 1) the rape case brought by Nafissatou Diallo against former head of the International Monetary Fund and former French presidential hopeful Dominique Strauss-Kahn as Diallo and her testimony travelled from criminal court, through the court of public opinion, to civil court in search of an adequate witness and 2) the autobiographical fiction of Jamaica Kincaid, who offers a literary witness in contrast to the sympathetic, pure, young victims featured in humanitarian campaigns. The chapter argues that the dynamics of witness tainting previously analyzed make it imperative that we adopt an ethical response that is not primarily grounded in identification or compassion. The chapter concludes by arguing that sympathy fails to provide an adequate ground for ethical witnessing and that we must learn to engage with the unsympathetic woman witness.
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Cleveland-Innes, Martha, and Randy Garrison. "The Role of Learner in an Online Community of Inquiry." In Web-Based Learning Solutions for Communities of Practice, 167–84. IGI Global, 2010. http://dx.doi.org/10.4018/978-1-60566-711-9.ch013.
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Students experiencing an online educational community for the first time experience adjustment in the role of learner. Findings from a study of adjustment to online learning from the instructor’s point of view validate five main areas of adjustment identified in previous research: technology, instructor role, modes of interaction, self-identity and course design. Using a confirmatory research model, instructors from two open and distance institutions were interviewed. Data confirmed that instructors also perceive adjustment in the five areas of online experience identified by students. In addition, student adjustment in these five areas can be understood in light of core dimensions of learner role requirements in an online community of inquiry (Garrison, Anderson, and Archer, 2000). Instructor comments provide understanding of the experience of online learners, including the challenges, interventions and resolutions that present themselves as unique incidents. Recommendations for the support and facilitation of adjustment are made. Funding for this research was received from the Athabasca University Mission Critical Research Fund.
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Cummings, Scott L. "Day Laborers." In An Equal Place, 91–163. Oxford University Press, 2021. http://dx.doi.org/10.1093/oso/9780190215927.003.0003.
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Day laborers are immigrant men who seek daily employment on street corners, often next to home improvement stores and other venues trafficked by contractors and do-it-yourselfers. The combination of a strong construction market and rising undocumented immigration powered the growth of day labor through the 1990s. Although part of the underground economy, day laborers were some of the most visible immigrant workers, standing on the corners in affluent communities to find jobs. Over the next decade, they became the target of legal backlash, with more than forty cities in the greater L.A. area passing anti-solicitation ordinances making it a crime for day laborers to solicit work from the street corner. This chapter examines the coordinated legal and organizing campaign to challenge these ordinances led by the Mexican American Legal Defense and Educational Fund (MALDEF) and the National Day Laborer Organizing Network (NDLON). The campaign challenged local jurisdictions in the greater L.A. area that actively enforced anti-solicitation ordinances. The strategy developed by MALDEF and NDLON focused on organizing day laborers at enforcement hotspots into committees that served as plaintiffs in federal court lawsuits claiming that ordinances violated laborers’ First Amendment right to seek work. The campaign thus adopted a libertarian, rather than an anti-discrimination, legal frame. This frame was used to build precedent toward the end goal of invalidating the most aggressive ordinances: those modeled after Redondo Beach’s pioneering 1987 law banning solicitation in any public right-of-way, including sidewalks. The chapter charts the trajectory of this test-case strategy, which culminated in a seminal 2011 federal appellate court decision striking down Redondo Beach’s ordinance and thereby clearing the way for day laborer solicitation in public space regionwide.
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Saassouh, Bassem, Laurence Dieulle, and Antoine Grall. "A Suitable Inspection Policy Definition for System with Two Modes of Degradation11This work has been funded in part by Champagne-Ardenne Regional Council and the European Social Fund." In Fault Detection, Supervision and Safety of Technical Processes 2006, 789–94. Elsevier, 2007. http://dx.doi.org/10.1016/b978-008044485-7/50133-0.
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"The Context of Civil Rights Litigation." In Voices of Civil Rights Lawyers, edited by Kent Spriggs. University Press of Florida, 2017. http://dx.doi.org/10.5744/florida/9780813054322.003.0003.
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Part 2 provides the context for civil rights litigation and includes chapter 3, “Big Events”; chapter 4, “The Tenor of the Times”; chapter 5, “Arrests of Lawyers (and Other ‘Minor Indignities’)”; and chapter 6, “Modes of Law Practice.” Some of the stories arise from big events like the 1965 Selma march, the 1968 Democratic Convention, and the first civil damages verdict against the KKK in Mississippi. Other stories provide the tenor of the times: the atmosphere of mass meetings, marches, and boycotts; the frustration of unsuccessfully seeking damages for police brutality; abuses encountered for being married to a civil rights lawyer. Arrests of and assaults on civil rights lawyers were not uncommon. The growth in civil rights protests and demonstrations required a great increase in the number of lawyers to represent the movement. This chapter explores how those needs were met: by nonprofits (like the Legal Defense Fund, LCDC [Lawyers Constitutional Defense Committee], and the Lawyers Committee for Civil Rights Under Law); by government funded legal services, and by an emerging group of lawyers in private practice, both black and white, who aligned themselves with the civil rights movement
Conference papers on the topic "Modes of fund clearing"
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Tuchina, Daria K., Alexey N. Bashkatov, Nikita A. Navolokin, and Valery V. Tuchin. "Ultrasonic modes to improve the optical clearing of the skin ex vivo." In Saratov Fall Meeting 2020: Optical and Nano-Technologies for Biology and Medicine, edited by Valery V. Tuchin and Elina A. Genina. SPIE, 2021. http://dx.doi.org/10.1117/12.2589230.
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Yu, Ting, and Tushar Chaitanya. "Optimizing Electrical Protection for Medium Voltage Controller Lineup to Improve Liquids Pipelines Operation Reliability and Safety." In 2018 12th International Pipeline Conference. American Society of Mechanical Engineers, 2018. http://dx.doi.org/10.1115/ipc2018-78117.
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MV (Medium Voltage) controller lineup electrical protection is crucial in protecting the equipment from large scale damage upon the occurrence of an electrical fault, reducing the time to restore power, thereby minimizing the impact to liquids pipelines operation. The paper discusses typical electrical failure modes that may occur in MV controller lineups, and demonstrates practical relaying engineering techniques that enable fast and effective fault clearing. Electrical faults in the MV controller lineup are often arcing type, commonly involve ground. Mitigating arc hazards in MV Class E2 controller lineups has traditionally been challenging without sacrificing the protection selectivity. As the paper demonstrates, a relaying scheme with the combined use of high-speed light-sensing and overcurrent detection will effectively mitigate the incident energy, while maintaining the protection selectivity for non-arcing overcurrent events. For new MV controller lineups, in addition to the “high-speed light detection and fault interruption”, zone-selective interlocking (ZSI) can also be a practical solution in improving relay protection speed, thus reduce the chance of severe arc flash occurrences. ZSI is particularly effective for fault occurrences on the line side of the phase CTs, busways or main incoming circuits. The ZSI scheme can be implemented on both Class E2 and circuit breaker (VCB) type MV controller lineups, however, with slightly different trip logic due to the limited fault clearing capability of the contactor. Although there are multiple contributing factors, the direct causes of electrical failures in MV controller lineup are commonly related to improper power cable installation and handling, potentially leading to premature insulation breakdown due mainly to the proximity effect and/or partial discharge. Inadequate cable separation and prolonged fault trip delay can increase the possibility of arcing fault occurrence. This can usually be mitigated through appropriate cable spacing, adequate conductor insulation, and optimized fault detection schemes. The paper provides overviews of the mechanisms of proximity effect and partial discharge propagation, and the modern relaying approaches for accurate fault type discrimination and facilitating fast fault interruption. Two case studies are provided in the paper as an aid in understanding the electrical fault mechanism originated from cable insulation failure, demonstrating the incident energy reduction before and after the implementation of high-speed light detection and fault interruption solutions on an existing MV controller lineup.
Reports on the topic "Modes of fund clearing"
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Agrawal, Asha Weinstein, Hilary Nixon, and Cameron Simmons. Investing in California’s Transportation Future: Public Opinion on Critical Needs. Mineta Transportation Institute, December 2020. http://dx.doi.org/10.31979/mti.2020.1861.
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In 2017, the State of California adopted landmark legislation to increase the funds available for transportation in the state: Senate Bill 1 (SB1), the Road Repair and Accountability Act of 2017. Through a combination of higher gas and diesel motor fuel taxes, SB1 raises revenue for four critical transportation needs in the state: road maintenance and rehabilitation, relief from congestion, improvements to trade corridors, and improving transit and rail services. To help state leaders identify the most important projects and programs to fund within those four topical areas, we conducted an online survey that asked a sample of 3,574 adult Californians their thoughts on how the state can achieve the SB1 objectives. The survey was administered from April to August 2019 with a survey platform and panel of respondents managed by Qualtrics. Quota sampling ensured that the final sample closely reflects California adults in terms of key socio-demographic characteristics and geographic distribution. Key findings included very strong support for improving all transportation modes, reducing air pollution and greenhouse gas emissions from transportation, and more convenient options to travel without driving. Respondents placed particular value on better maintenance for both local streets and roads, as well as highways. Finally, the majority of respondents assessed all types of transportation infrastructure in their communities as somewhat or very good.
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Payment Systems Report - June of 2020. Banco de la República de Colombia, February 2021. http://dx.doi.org/10.32468/rept-sist-pag.eng.2020.
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With its annual Payment Systems Report, Banco de la República offers a complete overview of the infrastructure of Colombia’s financial market. Each edition of the report has four objectives: 1) to publicize a consolidated account of how the figures for payment infrastructures have evolved with respect to both financial assets and goods and services; 2) to summarize the issues that are being debated internationally and are of interest to the industry that provides payment clearing and settlement services; 3) to offer the public an explanation of the ideas and concepts behind retail-value payment processes and the trends in retail payments within the circuit of individuals and companies; and 4) to familiarize the public, the industry, and all other financial authorities with the methodological progress that has been achieved through applied research to analyze the stability of payment systems. This edition introduces changes that have been made in the structure of the report, which are intended to make it easier and more enjoyable to read. The initial sections in this edition, which is the eleventh, contain an analysis of the statistics on the evolution and performance of financial market infrastructures. These are understood as multilateral systems wherein the participating entities clear, settle and register payments, securities, derivatives and other financial assets. The large-value payment system (CUD) saw less momentum in 2019 than it did the year before, mainly because of a decline in the amount of secondary market operations for government bonds, both in cash and sell/buy-backs, which was offset by an increase in operations with collective investment funds (CIFs) and Banco de la República’s operations to increase the money supply (repos). Consequently, the Central Securities Depository (DCV) registered less activity, due to fewer negotiations on the secondary market for public debt. This trend was also observed in the private debt market, as evidenced by the decline in the average amounts cleared and settled through the Central Securities Depository of Colombia (Deceval) and in the value of operations with financial derivatives cleared and settled through the Central Counterparty of Colombia (CRCC). Section three offers a comprehensive look at the market for retail-value payments; that is, transactions made by individuals and companies. During 2019, electronic transfers increased, and payments made with debit and credit cards continued to trend upward. In contrast, payments by check continued to decline, although the average daily value was almost four times the value of debit and credit card purchases. The same section contains the results of the fourth survey on how the use of retail-value payment instruments (for usual payments) is perceived. Conducted at the end of 2019, the main purpose of the survey was to identify the availability of these payment instruments, the public’s preferences for them, and their acceptance by merchants. It is worth noting that cash continues to be the instrument most used by the population for usual monthly payments (88.1% with respect to the number of payments and 87.4% in value). However, its use in terms of value has declined, having registered 89.6% in the 2017 survey. In turn, the level of acceptance by merchants of payment instruments other than cash is 14.1% for debit cards, 13.4% for credit cards, 8.2% for electronic transfers of funds and 1.8% for checks. The main reason for the use of cash is the absence of point-of-sale terminals at commercial establishments. Considering that the retail-payment market worldwide is influenced by constant innovation in payment services, by the modernization of clearing and settlement systems, and by the efforts of regulators to redefine the payment industry for the future, these trends are addressed in the fourth section of the report. There is an account of how innovations in technology-based financial payment services have developed, and it shows that while this topic is not new, it has evolved, particularly in terms of origin and vocation. One of the boxes that accompanies the fourth section deals with certain payment aspects of open banking and international experience in that regard, which has given the customers of a financial entity sovereignty over their data, allowing them, under transparent and secure conditions, to authorize a third party, other than their financial entity, to request information on their accounts with financial entities, thus enabling the third party to offer various financial services or initiate payments. Innovation also has sparked interest among international organizations, central banks, and research groups concerning the creation of digital currencies. Accordingly, the last box deals with the recent international debate on issuance of central bank digital currencies. In terms of the methodological progress that has been made, it is important to underscore the work that has been done on the role of central counterparties (CCPs) in mitigating liquidity and counterparty risk. The fifth section of the report offers an explanation of a document in which the work of CCPs in financial markets is analyzed and corroborated through an exercise that was built around the Central Counterparty of Colombia (CRCC) in the Colombian market for non-delivery peso-dollar forward exchange transactions, using the methodology of network topology. The results provide empirical support for the different theoretical models developed to study the effect of CCPs on financial markets. Finally, the results of research using artificial intelligence with information from the large-value payment system are presented. Based on the payments made among financial institutions in the large-value payment system, a methodology is used to compare different payment networks, as well as to determine which ones can be considered abnormal. The methodology shows signs that indicate when a network moves away from its historical trend, so it can be studied and monitored. A methodology similar to the one applied to classify images is used to make this comparison, the idea being to extract the main characteristics of the networks and use them as a parameter for comparison. Juan José Echavarría Governor