building a foundation for the future

... career at Barcap, she completed her PhD in Banking and Finance at the European Business School in Germany with a summa cum laude Tina also worked in the Trading and Clearing Market Development department ... Exchange ‘Tina Hasenpusch has taken a view of the complex world of securities and derivatives clearing and provided her readers with an analysis of uncommon transparency The analysis is based ... independent academic methodology The findings of the book do not necessarily represent the official stance of Barclays Capital The International Capital Market Association’s sponsorship of this publication

Ngày tải lên: 20/06/2014, 18:20

... asnovation, netting and risk management, as well as transaction/position man-agement, collateral management and cash management The scope of nettingand risk management services that a CCP can offer ... counterparty A placed the trade on behalf of the other counterparty B as if B had actually executed the trade Reasons for this might include capitalisation issues on the part of counterparty B, i.e a thin ... traded derivatives is held at and managed by the clearing house Transactionmanagement is particularly important in this context and usually comprisesadditional value-added services related to the

Ngày tải lên: 20/06/2014, 18:20

... BETHELHEM M BANJAW, Financial Associate ORIN E LUKE, Senior Program Assistant CARL G ANDERSON, Program Associate SAYYEDA AYESHA AHMED, Senior Program Assistant Trang 10Preface Although I was ... chemicals and feedstocks, polymeric materials, and nanomaterials There are many pathways to create a variety of functionalities on a glycan, creating a wide range of options for tailoring material ... understandingthe glycans that comprise the cell wall, the enzymes that help assemble and degrade it, and how the cell wall can be altered to improve the degradation process can all make significant

Ngày tải lên: 29/06/2014, 09:21

... Trang 1A REVIEW OF LEAN SIX SIGMA AND MALCOLM BALDRIGE NATIONAL QUALITY AWARD AND A PROPOSAL FOR THE FUTURE PNG CHANG LIANG NATIONAL UNIVERSITY OF SINGAPORE 2014 Trang 2A REVIEW OF LEAN ... in the marketplace Two particular frameworks have enjoyed much success over the last two decades They are Lean Six Sigma and the Malcolm Baldrige National Quality Award (MBNQA) (Anthony & ... qualified typically by the results of their effective applications and the level of application worldwide Among these frameworks, Six Sigma and Malcolm Baldridge National Quality Award have their

Ngày tải lên: 26/09/2015, 09:48

... data analysis Data analysis Data-driven thematic analysis, as described by Boyatzis [44], was used to analyse the qualitative data generated from the interviews, the nominal group technique, and ... Trang 1Consensus‑building around the conceptualisation and implementation of sustainable healthy diets: a foundation for policymakers Anna Bach‑Faig1, Kremlin Wickramasinghe2*, Natalia Panadero3, ... 0/ ) applies to the data made available in this article, unless otherwise stated in a credit line to the data. Background The notion of planetary health implies that the health of the global population

Ngày tải lên: 29/11/2022, 14:21

... years Universal Programme (Healthy Child, Healthy Future) Pre School and Family Health Antenatal Care incl Health Assessment Antenatal / Family Health Assessment initiated Birth: Neonatal Assessment ... promote attachment, laying the foundations for a child’s trust in the world, and its later capacity for empathy and responsiveness • An understanding of family relationships and the impact of ... becoming a parent • An appreciation of the factors that affect parenting capacity and health, and an understanding of the interplay between risk and resilience • Ensuring that practitioners have consultation

Ngày tải lên: 14/03/2014, 09:20

... sulfide, ammonia, water vapourand other gases The two most widely used anaerobic systems for manure management are6anaerobic lagoons and anaerobic digesters i) Anaerobic Lagoons In anaerobic lagoons, ... anaerobic lagoonexcept that the aerobic lagoon is aerated in some way There are basically two types ofaerobic lagoon They are: the naturally aerated lagoon (sometimes called an oxidationpond), and the ... to the anaerobiclagoon In this case, a mechanical aerator which is a pump or blower is designed to float in place in the lagoon There are several advantages to mechanically aerated lagoons 6There

Ngày tải lên: 17/03/2014, 10:20

... human tissuesand organs.An alternative approach is xenotransplantation, the use of animal cells andorgans to replace or assist failing organs in humans This area is heavily funded by the pharmaceutical ... initiatives of the National Institutes of Health and theNational Science Foundation, as well as private foundations, have already pro-duced molecular imaging data that could allow significant ... Sequence data will, however, be only a part of the accelerated flow of mation during the next decade, and perhaps not the main part The new tech-niques for rapid data generation, storage, and analysis

Ngày tải lên: 23/03/2014, 01:20

... and B is the centre of mass of the bottom lamina then the fact that the mass of the top lamina is greater by a factor means that the centre of the circular lamina is of d away from A, Chapter 7.8 ... locating the centre of the combined object the circular disc made up of a material that is twice as dense in the top half than the bottom half If A is the centre of mass of the top lamina and ... have tried, where possible, to integrate the mathematics into the physics so that the reader is given a chance to see the physics unfold in the most appropriate language (mathematics) The reader

Ngày tải lên: 10/06/2014, 22:31

... for data sharing in networked VEs is to have most of the main data-set replicated across all the sites and transmit only incremental changes Furthermore the main data-set is often cached locally ... economical to send audio/video via multicast In multicast the sender sends the data to a specific device or machine that then copies the data to the various people that are subscribers to the data For ... For example, a user send their data to a multicast address and the routers that receive the data send copies of the data to remote sites that are subscribed to the multicast address One drawback

Ngày tải lên: 19/06/2014, 10:20

... on analysing the impact that certain integration and harmonisation initiatives between clearing houses can have on the transaction costs of clearing These integration and harmonisation initiatives ... 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 ... upgrades or other changes and infrastructure adaptations Dealing with a CCP also entails costs for the banking intermediaries Clearing houses usually demand that all clearing members hold dedicated...

Ngày tải lên: 20/06/2014, 18:20

... 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 houses pay ... that are collateral rich and those that are collateral poor.34 The collateral poor tend to be the large trading houses, such as arcades,35 with a high proportion of day trading and low capital ... illustrate, for example, the number of respondents supporting or opposing a particular concept or idea These quantitative overviews establish the basis for a further qualitative data analysis and...

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 ... understanding the respective value provision of their clearer It is therefore doubtful whether they can accurately assess the adequacy of intermediary charges The remaining four NCMs had a good and...

Ngày tải lên: 20/06/2014, 18:20

... studies, a relying on a broader sample of data available for their focus area Book (2001) on the other hand copes with the problems related to the limited availability of data for his research by ... other indicators for a quantification of the output (e.g balance sheet variables such as revenue or profit) is not adequate for this analysis, as these indicators generate a biased picture for a ... depreciation The variables are based on publicly available information, which can be found 226 Clearing Services for Global Markets The analysis supports that decreasing average costs are related to an...

Ngày tải lên: 20/06/2014, 18:20

... particular can thus benefit from direct 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 ... 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 ... 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 a different advantage to the parties...

Ngày tải lên: 20/06/2014, 18:20

... between the London Clearing House Ltd (LCH) and the Paris-based clearing house Clearnet SA This network initiative provides valuable material for a case study analysis for various reasons The transaction ... important findings relevant for future M &A deals between European CCPs Additionally, the initiative was undertaken long enough ago to furnish a fairly substantial period for analysis On the other hand, ... global presence that enables them to clear internally all of the most important marketplaces worldwide The global clearers already had the efficiencies in-house, within their global organisation,...

Ngày tải lên: 20/06/2014, 18:20

... partners 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 ... conceivable way, but if managers look at usage in the aggregate, they will see patterns emerge And that’s important because for each major usage pattern that managers identify in their network, they ... two ways for clearing houses to create a workaround to identify usage patterns of the European clearing network: (i) they must either find a way of cooperating to provide a consolidated data analysis;...

Ngày tải lên: 20/06/2014, 18:20

... extensive qualitative data obtained from the interviews served as vital input and formed the basis for the cost analyses and case studies Nonetheless, more research based on quantitative data is needed ... regulatory and political issues can create further uncertainty about the future 434 Clearing services for global markets development of a clearing link initiative and can thus potentially aggravate the ... initiatives Future research is required to evaluate this impact If at any point in the future, European rules and regulations are harmonised, and processes are standardised, a reviewed analysis of the...

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 ... 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 contracts in the ... Clearing, which was extended and adapted with the help of the interviewees, the European market share for each of the six benchmark clearers was estimated Their combined European market share was...

Ngày tải lên: 20/06/2014, 18:20

... 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 ... counterparty clearing creates value-added not only for individual market participants, but for capital markets as a whole ‘Central Counterparties are among the crucial building blocks of any well-organised...

Ngày tải lên: 21/06/2014, 07:20