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Sample records for foreign exchange market

  1. Market efficiency in foreign exchange markets

    NASA Astrophysics Data System (ADS)

    Oh, Gabjin; Kim, Seunghwan; Eom, Cheoljun

    2007-08-01

    We investigate the relative market efficiency in financial market data, using the approximate entropy(ApEn) method for a quantification of randomness in time series. We used the global foreign exchange market indices for 17 countries during two periods from 1984 to 1998 and from 1999 to 2004 in order to study the efficiency of various foreign exchange markets around the market crisis. We found that on average, the ApEn values for European and North American foreign exchange markets are larger than those for African and Asian ones except Japan. We also found that the ApEn for Asian markets increased significantly after the Asian currency crisis. Our results suggest that the markets with a larger liquidity such as European and North American foreign exchange markets have a higher market efficiency than those with a smaller liquidity such as the African and Asian markets except Japan.

  2. Timing matters in foreign exchange markets

    NASA Astrophysics Data System (ADS)

    Hirata, Yoshito; Aihara, Kazuyuki

    2012-02-01

    We show using nonlinear time series analysis that the timing of trades in foreign exchange markets has significant information. We apply a set of methods for analyzing point process data developed in neuroscience and nonlinear science. Our results imply that foreign exchange markets might be chaotic and have short-term predictability.

  3. Time and foreign exchange markets

    NASA Astrophysics Data System (ADS)

    Berardi, Luca; Serva, Maurizio

    2005-08-01

    The definition of time is still an open question when one deals with high-frequency time series. If time is simply the calendar time, prices can be modeled as continuous random processes and values resulting from transactions or given quotes are discrete samples of this underlying dynamics. On the contrary, if one takes the business time point of view, price dynamics is a discrete random process, and time is simply the ordering according to which prices are quoted in the market. In this paper, we suggest that the business time approach is perhaps a better way of modeling price dynamics than calendar time. This conclusion comes from testing probability densities and conditional variances predicted by the two models against the experimental ones. The data set we use contains the DEM/USD exchange quotes provided to us by Olsen & Associates during a period of one year from January to December 1998. In this period, 1,620,843 quotes entries in the EFX system were recorded.

  4. Spot foreign exchange market and time series

    NASA Astrophysics Data System (ADS)

    Petroni, F.; Serva, M.

    2003-08-01

    We investigate high frequency price dynamics in foreign exchange market using data from Reuters information system (the dataset has been provided to us by Olsen and Associates). In our analysis we show that a naïve approach to the definition of price (for example using the spot mid price) may lead to wrong conclusions on price behavior as for example the presence of short term correlations for returns. For this purpose we introduce an algorithm which only uses the non arbitrage principle to estimate real prices from the spot ones. The new definition leads to returns which are not affected by spurious correlations. Furthermore, any apparent information (defined by using Shannon entropy) contained in the data disappears.

  5. Competitions hatch butterfly attractors in foreign exchange markets

    NASA Astrophysics Data System (ADS)

    Jin, Yu Ying

    2005-03-01

    Chaos in foreign exchange markets is a common issue of concern in the study of economic dynamics. In this work, we mainly investigate the competition effect on chaos in foreign exchange markets. As one of the main economic structures in the globalization process, competition between two target exchange rates with the same base currency forms a simple competitive exchange rate relation, where each exchange rate follows the chaotic model of De Grauwe (Exchange Rate Theory-Chaotic Models of Foreign Exchange Markets, Blackwell, Oxford, Cambridge, MA, 1993). The main discovery is, while each exchange rate is in its non-chaotic parameter regions, the effect of competition will “hatch” butterfly-like chaotic attractors in the competitive market. The positive Lyapunov exponent in the market explains the reason why chaos occurs.

  6. Multifractal Behaviors in Foreign Exchange Markets

    NASA Astrophysics Data System (ADS)

    Kim, Kyungsik; Kim, Soo Yong; Lim, Gyuchang; Scalas, Enrico; Lee, Dong-In

    2008-03-01

    The market information and its intensity for the context of two-phase phenomenon is introduced in financial exchange markets. To find the underlying process of the formation of market information, we investigate the multifractal properties of the market information in terms of the multifractal and the detrended fluctuation analysis and also examine the higher order correlations between successive pieces of market information. Although the multifractal properties of the market information process is clearly confirmed, the simple binomial multiplicative process is not appropriate to catch its dynamics. It means that the market information process can be essentially different from the fully developed turbulence.

  7. Characteristic periodicities of collective behavior at the foreign exchange market

    NASA Astrophysics Data System (ADS)

    Sato, A.-H.; Hołyst, J. A.

    2008-04-01

    As the result of empirical investigations into the foreign exchange market a group structure of characteristic periodic decisions of market participants is found. In order to explain this finding at the microscopic level the agent-based model of a financial market in which N market participants trade M financial commodities is considered. If different sources of periodic information exist then the relationship among these characteristic periodic behaviors may be associated with a special structure where market participants perceive such information in the foreign exchange market.

  8. Real prices from spot foreign exchange market

    NASA Astrophysics Data System (ADS)

    Petroni, Filippo; Serva, Maurizio

    2004-12-01

    In this work we discuss the problem of price definition when using high frequency foreign exchange data. If one uses the spot mid price a strong autocorrelation of returns, at one lag, is found which is only due to microstructure effect and does not capture the real behavior of price dynamics. This autocorrelation increases the intraday volatility estimated from this type of data. To solve this problem we introduce an algorithm which is able, by using the no-arbitrage principle, of eliminating every microstructure effects.

  9. Exchange rate rebounds after foreign exchange market interventions

    NASA Astrophysics Data System (ADS)

    Hoshikawa, Takeshi

    2017-03-01

    This study examined the rebounds in the exchange rate after foreign exchange intervention. When intervention is strongly effective, the exchange rate rebounds at next day. The effect of intervention is reduced slightly by the rebound after the intervention. The exchange rate might have been 67.12-77.47 yen to a US dollar without yen-selling/dollar-purchasing intervention of 74,691,100 million yen implemented by the Japanese government since 1991, in comparison to the actual exchange rate was 103.19 yen to the US dollar at the end of March 2014.

  10. Entropy analysis in foreign exchange markets and economic crisis

    NASA Astrophysics Data System (ADS)

    Ha, Jin-Gi; Yim, Kyubin; Kim, Seunghwan; Jung, Woo-Sung

    2012-08-01

    We investigate the relative market efficiency in 11 foreign exchange markets by using the Lempel-Ziv (LZ) complexity algorithm and several entropy values such as the Shannon entropy, the approximate entropy, and the sample entropy. With daily data in 11 foreign exchange markets from Jan. 2000 to Sep. 2011, we observe that mature markets have higher LZ complexities and entropy values than emerging markets. Furthermore, with sliding time windows, we also investigate the temporal evolutions of those entropies from Jan. 1994 to Sep. 2011, and we find that, after an economic crisis, the approximate entropy and the sample entropy of mature markets such as Japan, Europe and the United Kingdom suddenly become lower.

  11. A multifractal analysis of Asian foreign exchange markets

    NASA Astrophysics Data System (ADS)

    Oh, G.; Eom, C.; Havlin, S.; Jung, W.-S.; Wang, F.; Stanley, H. E.; Kim, S.

    2012-06-01

    We analyze the multifractal spectra of daily foreign exchange rates for Japan, Hong-Kong, Korea, and Thailand with respect to the United States in the period from 1991 until 2005. We find that the return time series show multifractal spectrum features for all four cases. To observe the effect of the Asian currency crisis, we also estimate the multifractal spectra of limited series before and after the crisis. We find that the Korean and Thai foreign exchange markets experienced a significant increase in multifractality compared to Hong-Kong and Japan. We also show that the multifractality is stronger related to the presence of high values of returns in the series.

  12. Multifractal Analysis of Asian Foreign Exchange Markets and Financial Crisis

    NASA Astrophysics Data System (ADS)

    Oh, Gabjin; Kwon, Okyu; Jung, Woo-Sung

    2012-02-01

    We analyze the multifractal spectra of daily foreign exchange rates for Japan, Hong-Kong, Korea, and Thailand with respect to the United States Dollar from 1991 to 2005. We find that the return time series show multifractal spectrum features for all four cases. To observe the effect of the Asian currency crisis, we also estimate the multifractal spectra of limited series before and after the crisis. We find that the Korean and Thai foreign exchange markets experienced a significant increase in multifractality compared to Hong-Kong and Japan. We also show that the multifractality is stronge related to the presence of high values of returns in the series.

  13. Fluctuation scaling of quotation activities in the foreign exchange market

    NASA Astrophysics Data System (ADS)

    Sato, Aki-Hiro; Nishimura, Maiko; Hołyst, Janusz A.

    2010-07-01

    We study the scaling behavior of quotation activities for various currency pairs in the foreign exchange market. The components’ centrality is estimated from multiple time series and visualized as a currency pair network. The power-law relationship between a mean of quotation activity and its standard deviation for each currency pair is found. The scaling exponent α and the ratio between common and specific fluctuations η increase with the length of the observation time window Δt. The result means that although for Δt=1 (min), the market dynamics are governed by specific processes, and at a longer time scale Δt>100 (min) the common information flow becomes more important. We point out that quotation activities are not independently Poissonian for Δt=1 (min), and temporally or mutually correlated activities of quotations can happen even at this time scale. A stochastic model for the foreign exchange market based on a bipartite graph representation is proposed.

  14. An Experiment with Official and Parallel Foreign Exchange Markets in a Developing Country.

    ERIC Educational Resources Information Center

    Hazlett, Denise; Ganje, Jeela

    1999-01-01

    Describes a classroom experiment that demonstrates under what conditions the parallel market rate approximates the free-market value of the domestic currency. Students act as foreign exchange traders in a developing country. Provides results of the experiment and discussion questions. (CMK)

  15. Time scale defined by the fractal structure of the price fluctuations in foreign exchange markets

    NASA Astrophysics Data System (ADS)

    Kumagai, Yoshiaki

    2010-04-01

    In this contribution, a new time scale named C-fluctuation time is defined by price fluctuations observed at a given resolution. The intraday fractal structures and the relations of the three time scales: real time (physical time), tick time and C-fluctuation time, in foreign exchange markets are analyzed. The data set used is trading prices of foreign exchange rates; US dollar (USD)/Japanese yen (JPY), USD/Euro (EUR), and EUR/JPY. The accuracy of the data is one minute and data within a minute are recorded in order of transaction. The series of instantaneous velocity of C-fluctuation time flowing are exponentially distributed for small C when they are measured by real time and for tiny C when they are measured by tick time. When the market is volatile, for larger C, the series of instantaneous velocity are exponentially distributed.

  16. Analysis of Foreign Exchange Interventions by Intervention Agent with an Artificial Market Approach

    NASA Astrophysics Data System (ADS)

    Matsui, Hiroki; Tojo, Satoshi

    We propose a multi-agent system which learns intervention policies and evaluates the effect of interventions in an artificial foreign exchange market. Izumi et al. had presented a system called AGEDASI TOF to simulate artificial market, together with a support system for the government to decide foreign exchange policies. However, the system needed to fix the amount of governmental intervention prior to the simulation, and was not realistic. In addition, the interventions in the system did not affect supply and demand of currencies; thus we could not discuss the effect of intervention correctly. First, we improve the system so as to make much of the weights of influential factors. Thereafter, we introduce an intervention agent that has the role of the central bank to stabilize the market. We could show that the agent learned the effective intervention policies through the reinforcement learning, and that the exchange rate converged to a certain extent in the expected range. We could also estimate the amount of intervention, showing the efficacy of signaling. In this model, in order to investigate the aliasing of the perception of the intervention agent, we introduced a pseudo-agent who was supposed to be able to observe all the behaviors of dealer agents; with this super-agent, we discussed the adequate granularity for a market state description.

  17. Hierarchical cluster-tendency analysis of the group structure in the foreign exchange market

    NASA Astrophysics Data System (ADS)

    Wu, Xin-Ye; Zheng, Zhi-Gang

    2013-08-01

    A hierarchical cluster-tendency (HCT) method in analyzing the group structure of networks of the global foreign exchange (FX) market is proposed by combining the advantages of both the minimal spanning tree (MST) and the hierarchical tree (HT). Fifty currencies of the top 50 World GDP in 2010 according to World Bank's database are chosen as the underlying system. By using the HCT method, all nodes in the FX market network can be "colored" and distinguished. We reveal that the FX networks can be divided into two groups, i.e., the Asia-Pacific group and the Pan-European group. The results given by the hierarchical cluster-tendency method agree well with the formerly observed geographical aggregation behavior in the FX market. Moreover, an oil-resource aggregation phenomenon is discovered by using our method. We find that gold could be a better numeraire for the weekly-frequency FX data.

  18. General and specific statistical properties of foreign exchange markets during a financial crash

    NASA Astrophysics Data System (ADS)

    Li, Wei-Shen; Tsai, Yun-Jie; Shen, Yu-Hsien; Liaw, Sy-Sang

    2016-06-01

    We investigate minute-by-minute foreign exchange rate (FX) data of 14 currencies with different exchange-rate regimes during a financial crash, and divide these data into several stages according to their respective tendencies: depreciation stage (stage 1), fluctuating stage (stage 2), and appreciation stage (stage 3). The tail distribution of FX rate returns satisfies a power-law structure for different types of currencies. We find the absolute value of the power-law exponent is smaller in emerging markets than in developed markets, especially during the stage 1, and is greatest in pegged currencies. We also find that the correlation properties of the FX rate return series have quite disparate results among the various types of currencies. Currencies in developed markets respectively have weak persistence and anti-persistence in short and long timescales; whereas the pegged currencies and currencies in emerging markets show different degrees of anti-persistence in various timescales. Further analyses on the data in divided stages indicate that emerging markets and pegged currencies have more prominent dual fractal structures after the depreciation stage, while the developed markets do not. Hurst exponent analyses on the sign series yield similar results to that on the original return series for most currencies. The magnitude series of the returns provide some unique results during a crash. The developed market currencies have strong persistence and exhibit a weaker correlation in the depreciation and appreciation stages. In contrast, the currencies of emerging markets as well as pegged currencies fail to show such a transformation, but rather show a constant-correlation behavior in the corresponding stages of a crash. These results indicate that external shocks exert different degrees of influence during different stages of the crash in various markets.

  19. The foreign exchange market: return distributions, multifractality, anomalous multifractality and the Epps effect

    NASA Astrophysics Data System (ADS)

    Drożdż, Stanisław; Kwapień, Jarosław; Oświȩcimka, Paweł; Rak, Rafał

    2010-10-01

    We present a systematic study of various statistical characteristics of high-frequency returns from the foreign exchange market. This study is based on six exchange rates forming two triangles: EUR-GBP-USD and GBP-CHF-JPY. It is shown that the exchange rate return fluctuations for all of the pairs considered are well described by the non-extensive statistics in terms of q-Gaussians. There exist some small quantitative variations in the non-extensivity q-parameter values for different exchange rates (which depend also on the time scales studied), and this can be related to the importance of a given exchange rate in the world's currency trade. Temporal correlations organize the series of returns such that they develop the multifractal characteristics for all of the exchange rates, with a varying degree of symmetry of the singularity spectrum f(α), however. The most symmetric spectrum is identified for the GBP/USD. We also form time series of triangular residual returns and find that the distributions of their fluctuations develop disproportionately heavier tails as compared to small fluctuations, which excludes description in terms of q-Gaussians. The multifractal characteristics of these residual returns reveal such anomalous properties as negative singularity exponents and even negative singularity spectra. Such anomalous multifractal measures have so far been considered in the literature in connection with diffusion-limited aggregation and with turbulence. Studying the cross-correlations among different exchange rates, we found that market inefficiency on short time scales leads to the occurrence of the Epps effect on much longer time scales, but comparable to the ones for the stock market. Although the currency market is much more liquid than the stock markets and has a much greater transaction frequency, the building up of correlations takes up to several hours—a duration that does not differ much from what is observed in the stock markets. This may suggest

  20. Modeling foreign exchange market activity around macroeconomic news: Hawkes-process approach

    NASA Astrophysics Data System (ADS)

    Rambaldi, Marcello; Pennesi, Paris; Lillo, Fabrizio

    2015-01-01

    We present a Hawkes-model approach to the foreign exchange market in which the high-frequency price dynamics is affected by a self-exciting mechanism and an exogenous component, generated by the pre-announced arrival of macroeconomic news. By focusing on time windows around the news announcement, we find that the model is able to capture the increase of trading activity after the news, both when the news has a sizable effect on volatility and when this effect is negligible, either because the news in not important or because the announcement is in line with the forecast by analysts. We extend the model by considering noncausal effects, due to the fact that the existence of the news (but not its content) is known by the market before the announcement.

  1. Modeling foreign exchange market activity around macroeconomic news: Hawkes-process approach.

    PubMed

    Rambaldi, Marcello; Pennesi, Paris; Lillo, Fabrizio

    2015-01-01

    We present a Hawkes-model approach to the foreign exchange market in which the high-frequency price dynamics is affected by a self-exciting mechanism and an exogenous component, generated by the pre-announced arrival of macroeconomic news. By focusing on time windows around the news announcement, we find that the model is able to capture the increase of trading activity after the news, both when the news has a sizable effect on volatility and when this effect is negligible, either because the news in not important or because the announcement is in line with the forecast by analysts. We extend the model by considering noncausal effects, due to the fact that the existence of the news (but not its content) is known by the market before the announcement.

  2. Foreign exchange market data analysis reveals statistical features that predict price movement acceleration

    NASA Astrophysics Data System (ADS)

    Nacher, Jose C.; Ochiai, Tomoshiro

    2012-05-01

    Increasingly accessible financial data allow researchers to infer market-dynamics-based laws and to propose models that are able to reproduce them. In recent years, several stylized facts have been uncovered. Here we perform an extensive analysis of foreign exchange data that leads to the unveiling of a statistical financial law. First, our findings show that, on average, volatility increases more when the price exceeds the highest (or lowest) value, i.e., breaks the resistance line. We call this the breaking-acceleration effect. Second, our results show that the probability P(T) to break the resistance line in the past time T follows power law in both real data and theoretically simulated data. However, the probability calculated using real data is rather lower than the one obtained using a traditional Black-Scholes (BS) model. Taken together, the present analysis characterizes a different stylized fact of financial markets and shows that the market exceeds a past (historical) extreme price fewer times than expected by the BS model (the resistance effect). However, when the market does, we predict that the average volatility at that time point will be much higher. These findings indicate that any Markovian model does not faithfully capture the market dynamics.

  3. Currency crises and the evolution of foreign exchange market: Evidence from minimum spanning tree

    NASA Astrophysics Data System (ADS)

    Jang, Wooseok; Lee, Junghoon; Chang, Woojin

    2011-02-01

    We examined the time series properties of the foreign exchange market for 1990-2008 in relation to the history of the currency crises using the minimum spanning tree (MST) approach and made several meaningful observations about the MST of currencies. First, around currency crises, the mean correlation coefficient between currencies decreased whereas the normalized tree length increased. The mean correlation coefficient dropped dramatically passing through the Asian crisis and remained at the lowered level after that. Second, the Euro and the US dollar showed a strong negative correlation after 1997, implying that the prices of the two currencies moved in opposite directions. Third, we observed that Asian countries and Latin American countries moved away from the cluster center (USA) passing through the Asian crisis and Argentine crisis, respectively.

  4. Do foreign exchange and equity markets co-move in Latin American region? Detrended cross-correlation approach

    NASA Astrophysics Data System (ADS)

    Bashir, Usman; Yu, Yugang; Hussain, Muntazir; Zebende, Gilney F.

    2016-11-01

    This paper investigates the dynamics of the relationship between foreign exchange markets and stock markets through time varying co-movements. In this sense, we analyzed the time series monthly of Latin American countries for the period from 1991 to 2015. Furthermore, we apply Granger causality to verify the direction of causality between foreign exchange and stock market and detrended cross-correlation approach (ρDCCA) for any co-movements at different time scales. Our empirical results suggest a positive cross correlation between exchange rate and stock price for all Latin American countries. The findings reveal two clear patterns of correlation. First, Brazil and Argentina have positive correlation in both short and long time frames. Second, the remaining countries are negatively correlated in shorter time scale, gradually moving to positive. This paper contributes to the field in three ways. First, we verified the co-movements of exchange rate and stock prices that were rarely discussed in previous empirical studies. Second, ρDCCA coefficient is a robust and powerful methodology to measure the cross correlation when dealing with non stationarity of time series. Third, most of the studies employed one or two time scales using co-integration and vector autoregressive approaches. Not much is known about the co-movements at varying time scales between foreign exchange and stock markets. ρDCCA coefficient facilitates the understanding of its explanatory depth.

  5. Teaching Interactions between Foreign Exchange Markets and Balance-of-Payments Flows: An Alternative Graphical Approach.

    ERIC Educational Resources Information Center

    Gaske, Dan

    1992-01-01

    Provides a graphical framework for presenting interactions among current account flows, capital account flows, and exchange rates. Suggests that the two type of flows must be considered separately in discussions of foreign exchange equilibrium and balance of payments flows. Supplies sample graphs and instructions for applying the framework to real…

  6. Similarity, Clustering, and Scaling Analyses for the Foreign Exchange Market ---Comprehensive Analysis on States of Market Participants with High-Frequency Financial Data---

    NASA Astrophysics Data System (ADS)

    Sato, A.; Sakai, H.; Nishimura, M.; Holyst, J. A.

    This article proposes mathematical methods to quantify states of marketparticipants in the foreign exchange market (FX market) and conduct comprehensive analysis on behavior of market participants by means of high-frequency financial data. Based on econophysics tools and perspectives we study similarity measures for both rate movements and quotation activities among various currency pairs. We perform also clustering analysis on market states for observation days, and find scaling relationship between mean values of quotation activities and their standard deviations. Using these mathematical methods we can visualize states of the FX market comprehensively. Finally we conclude that states of market participants temporally vary due to both external and internal factors.

  7. Dynamical Structure of Behavioral Similarities of the Market Participants in the Foreign Exchange Market

    NASA Astrophysics Data System (ADS)

    Sato, Aki-Hiro; Shintani, Kohei

    The financial markets started to be computerized due to development and spread of the Information and Communication Technology (ICT) in early 1990s. As the result rapid development and spread of electrical trading systems occurred all over the world. Moreover advance of processing speed of computers and capacity of storages leads to accumulation of activity records of market participants, high frequency financial data. By utilizing the high frequency financial data one can observe behavior of the market participants with high resolutions and analyze a large amount of data enough to quantify them in the statistically significant.

  8. Frequency analysis of tick quotes on the foreign exchange market and agent-based modeling: A spectral distance approach

    NASA Astrophysics Data System (ADS)

    Sato, Aki-Hiro

    2007-08-01

    High-frequency financial data of the foreign exchange market (EUR/CHF, EUR/GBP, EUR/JPY, EUR/NOK, EUR/SEK, EUR/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/NOK, and USD/SEK) are analyzed by utilizing the Kullback-Leibler divergence between two normalized spectrograms of the tick frequency and the generalized Jensen-Shannon divergence among them. The temporal structure variations of the similarity between currency pairs is detected and characterized. A simple agent-based model in which N market participants exchange M currency pairs is proposed. The equation for the tick frequency is approximately derived theoretically. Based on the analysis of this model, the spectral distance of the tick frequency is associated with the similarity of the behavior (perception and decision) of the market participants in exchanging these currency pairs.

  9. Dynamic communities in multichannel data: an application to the foreign exchange market during the 2007-2008 credit crisis.

    PubMed

    Fenn, Daniel J; Porter, Mason A; McDonald, Mark; Williams, Stacy; Johnson, Neil F; Jones, Nick S

    2009-09-01

    We study the cluster dynamics of multichannel (multivariate) time series by representing their correlations as time-dependent networks and investigating the evolution of network communities. We employ a node-centric approach that allows us to track the effects of the community evolution on the functional roles of individual nodes without having to track entire communities. As an example, we consider a foreign exchange market network in which each node represents an exchange rate and each edge represents a time-dependent correlation between the rates. We study the period 2005-2008, which includes the recent credit and liquidity crisis. Using community detection, we find that exchange rates that are strongly attached to their community are persistently grouped with the same set of rates, whereas exchange rates that are important for the transfer of information tend to be positioned on the edges of communities. Our analysis successfully uncovers major trading changes that occurred in the market during the credit crisis.

  10. Dynamic communities in multichannel data: An application to the foreign exchange market during the 2007-2008 credit crisis

    NASA Astrophysics Data System (ADS)

    Fenn, Daniel J.; Porter, Mason A.; McDonald, Mark; Williams, Stacy; Johnson, Neil F.; Jones, Nick S.

    2009-09-01

    We study the cluster dynamics of multichannel (multivariate) time series by representing their correlations as time-dependent networks and investigating the evolution of network communities. We employ a node-centric approach that allows us to track the effects of the community evolution on the functional roles of individual nodes without having to track entire communities. As an example, we consider a foreign exchange market network in which each node represents an exchange rate and each edge represents a time-dependent correlation between the rates. We study the period 2005-2008, which includes the recent credit and liquidity crisis. Using community detection, we find that exchange rates that are strongly attached to their community are persistently grouped with the same set of rates, whereas exchange rates that are important for the transfer of information tend to be positioned on the edges of communities. Our analysis successfully uncovers major trading changes that occurred in the market during the credit crisis.

  11. Estimating time-varying conditional correlations between stock and foreign exchange markets

    NASA Astrophysics Data System (ADS)

    Tastan, Hüseyin

    2006-02-01

    This study explores the dynamic interaction between stock market returns and changes in nominal exchange rates. Many financial variables are known to exhibit fat tails and autoregressive variance structure. It is well-known that unconditional covariance and correlation coefficients also vary significantly over time and multivariate generalized autoregressive model (MGARCH) is able to capture the time-varying variance-covariance matrix for stock market returns and changes in exchange rates. The model is applied to daily Euro-Dollar exchange rates and two stock market indexes from the US economy: Dow-Jones Industrial Average Index and S&P500 Index. The news impact surfaces are also drawn based on the model estimates to see the effects of idiosyncratic shocks in respective markets.

  12. The Story of Foreign Trade and Exchange.

    ERIC Educational Resources Information Center

    Fan, Cedric

    This comic-style booklet is one of a series of educational booklets published by the Federal Reserve Bank of New York. The booklet uses everyday language and lively illustrations to explain the benefits of international trade; the effects of tariffs and quotas; the significance of foreign exchange rates; how the foreign exchange market facilities…

  13. 75 FR 66426 - Determination of Foreign Exchange Swaps and Forwards

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-10-28

    ... classes of swaps; (3) The extent to which bank regulators of participants in the foreign exchange market... payment and settlement systems; and (5) The use of a potential exemption of foreign exchange swaps and... or other risks in the foreign exchange swaps and forwards markets? What considerations are...

  14. Similarity measure and topology evolution of foreign exchange markets using dynamic time warping method: Evidence from minimal spanning tree

    NASA Astrophysics Data System (ADS)

    Wang, Gang-Jin; Xie, Chi; Han, Feng; Sun, Bo

    2012-08-01

    In this study, we employ a dynamic time warping method to study the topology of similarity networks among 35 major currencies in international foreign exchange (FX) markets, measured by the minimal spanning tree (MST) approach, which is expected to overcome the synchronous restriction of the Pearson correlation coefficient. In the empirical process, firstly, we subdivide the analysis period from June 2005 to May 2011 into three sub-periods: before, during, and after the US sub-prime crisis. Secondly, we choose NZD (New Zealand dollar) as the numeraire and then, analyze the topology evolution of FX markets in terms of the structure changes of MSTs during the above periods. We also present the hierarchical tree associated with the MST to study the currency clusters in each sub-period. Our results confirm that USD and EUR are the predominant world currencies. But USD gradually loses the most central position while EUR acts as a stable center in the MST passing through the crisis. Furthermore, an interesting finding is that, after the crisis, SGD (Singapore dollar) becomes a new center currency for the network.

  15. Impact of unexpected events, shocking news, and rumors on foreign exchange market dynamics

    NASA Astrophysics Data System (ADS)

    McDonald, Mark; Suleman, Omer; Williams, Stacy; Howison, Sam; Johnson, Neil F.

    2008-04-01

    The dynamical response of a population of interconnected objects, when exposed to external perturbations, is of great interest to physicists working on complex systems. Here we focus on human systems, by analyzing the dynamical response of the world’s financial community to various types of unexpected events—including the 9/11 terrorist attacks as they unfolded on a minute-by-minute basis. For the unfolding events of 9/11, our results show that there was a gradual collective understanding of what was happening, rather than an immediate realization. More generally, we find that for news items which are not simple economic statements—and hence whose implications for the market are not immediately obvious—there are periods of collective discovery during which opinions seem to vary in a remarkably synchronized way.

  16. Impact of unexpected events, shocking news, and rumors on foreign exchange market dynamics.

    PubMed

    McDonald, Mark; Suleman, Omer; Williams, Stacy; Howison, Sam; Johnson, Neil F

    2008-04-01

    The dynamical response of a population of interconnected objects, when exposed to external perturbations, is of great interest to physicists working on complex systems. Here we focus on human systems, by analyzing the dynamical response of the world's financial community to various types of unexpected events-including the 9/11 terrorist attacks as they unfolded on a minute-by-minute basis. For the unfolding events of 9/11, our results show that there was a gradual collective understanding of what was happening, rather than an immediate realization. More generally, we find that for news items which are not simple economic statements-and hence whose implications for the market are not immediately obvious-there are periods of collective discovery during which opinions seem to vary in a remarkably synchronized way.

  17. 76 FR 22633 - Retail Foreign Exchange Transactions

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-04-22

    ...The Office of the Comptroller of the Currency (OCC) is proposing a rule authorizing national banks, Federal branches or agencies of foreign banks, and their operating subsidiaries to engage in off-exchange transactions in foreign currency with retail customers. The proposed rule also describes various requirements with which national banks, Federal branches or agencies of foreign banks, and......

  18. 76 FR 41375 - Retail Foreign Exchange Transactions

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-14

    ...The Office of the Comptroller of the Currency (OCC) is adopting a final rule authorizing national banks, Federal branches and agencies of foreign banks, and their operating subsidiaries to engage in off-exchange transactions in foreign currency with retail customers. The rule also describes various requirements with which national banks, Federal branches and agencies of foreign banks, and......

  19. Phase correlation of foreign exchange time series

    NASA Astrophysics Data System (ADS)

    Wu, Ming-Chya

    2007-03-01

    Correlation of foreign exchange rates in currency markets is investigated based on the empirical data of USD/DEM and USD/JPY exchange rates for a period from February 1 1986 to December 31 1996. The return of exchange time series is first decomposed into a number of intrinsic mode functions (IMFs) by the empirical mode decomposition method. The instantaneous phases of the resultant IMFs calculated by the Hilbert transform are then used to characterize the behaviors of pricing transmissions, and the correlation is probed by measuring the phase differences between two IMFs in the same order. From the distribution of phase differences, our results show explicitly that the correlations are stronger in daily time scale than in longer time scales. The demonstration for the correlations in periods of 1986-1989 and 1990-1993 indicates two exchange rates in the former period were more correlated than in the latter period. The result is consistent with the observations from the cross-correlation calculation.

  20. The Effectiveness of Web-Based Foreign Exchange Trading Simulation in an International Finance Course

    ERIC Educational Resources Information Center

    Chou, Chen-Huei; Liu, Hao-Chen

    2013-01-01

    The purpose of this article is to study if trading simulation is an effective tool to increase students' knowledge of the foreign exchange market. We developed a real-time multiuser web-based trading system that replicates an electronic brokerage foreign exchange market. To assess the effectiveness of the program, we conducted surveys in three…

  1. Foreign exchange rate entropy evolution during financial crises

    NASA Astrophysics Data System (ADS)

    Stosic, Darko; Stosic, Dusan; Ludermir, Teresa; de Oliveira, Wilson; Stosic, Tatijana

    2016-05-01

    This paper examines the effects of financial crises on foreign exchange (FX) markets, where entropy evolution is measured for different exchange rates, using the time-dependent block entropy method. Empirical results suggest that financial crises are associated with significant increase of exchange rate entropy, reflecting instability in FX market dynamics. In accordance with phenomenological expectations, it is found that FX markets with large liquidity and large trading volume are more inert - they recover quicker from a crisis than markets with small liquidity and small trading volume. Moreover, our numerical analysis shows that periods of economic uncertainty are preceded by periods of low entropy values, which may serve as a tool for anticipating the onset of financial crises.

  2. Sparseness and Roughness of Foreign Exchange Rates

    NASA Astrophysics Data System (ADS)

    Vandewalle, N.; Ausloos, M.

    An accurate multiaffine analysis of 23 foreign currency exchange rates has been performed. The roughness exponent H1 which characterizes the excursion of the exchange rate has been numerically measured. The degree of intermittency C1 has been also estimated. In the (H1,C1) phase diagram, the currency exchange rates are dispersed in a wide region around the Brownian motion value (H1=0.5,C1=0) and have a significantly intermittent component (C1≠0).

  3. East Asia’s Foreign Exchange Rate Policies

    DTIC Science & Technology

    2009-07-16

    At the other extreme, Japan, the Philippines, and South Korea have usually allowed their currencies to float freely in foreign exchange ( forex ...China, Indonesia, Malaysia, Singapore, Taiwan, Thailand, and Vietnam allow their currency to adjust in value in forex markets so long as the...There were also reports that Korea sold more dollars for won in early April 2008.7 At the time, some forex analysts claimed that the new South Korean

  4. 12 CFR 614.4900 - Foreign exchange.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... international financial activities. The bank's policies should include established guidelines for: (1) Net... Cooperatives and Agricultural Credit Banks Financing International Trade § 614.4900 Foreign exchange. (a) Before a bank for cooperatives or an agricultural credit bank may engage in any financial...

  5. Scaling properties of foreign exchange volatility

    NASA Astrophysics Data System (ADS)

    Gençay, Ramazan; Selçuk, Faruk; Whitcher, Brandon

    2001-01-01

    In this paper, we investigate the scaling properties of foreign exchange volatility. Our methodology is based on a wavelet multi-scaling approach which decomposes the variance of a time series and the covariance between two time series on a scale by scale basis through the application of a discrete wavelet transformation. It is shown that foreign exchange rate volatilities follow different scaling laws at different horizons. Particularly, there is a smaller degree of persistence in intra-day volatility as compared to volatility at one day and higher scales. Therefore, a common practice in the risk management industry to convert risk measures calculated at shorter horizons into longer horizons through a global scaling parameter may not be appropriate. This paper also demonstrates that correlation between the foreign exchange volatilities is the lowest at the intra-day scales but exhibits a gradual increase up to a daily scale. The correlation coefficient stabilizes at scales one day and higher. Therefore, the benefit of currency diversification is the greatest at the intra-day scales and diminishes gradually at higher scales (lower frequencies). The wavelet cross-correlation analysis also indicates that the association between two volatilities is stronger at lower frequencies.

  6. 76 FR 25774 - Determination of Foreign Exchange Swaps and Foreign Exchange Forwards Under the Commodity...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-05-05

    ... global payments system. This global strategy, which was launched in 1996 by the Bank for International... global foreign exchange trade repository, plans for which are already underway, will dramatically expand... improve price transparency significantly. \\15\\ See, e.g., comment by Global FX Division of the...

  7. Structure and Evolution of the Foreign Exchange Networks

    NASA Astrophysics Data System (ADS)

    Kwapień, J.; Gworek, S.; Drożdż, S.

    2009-01-01

    We investigate topology and temporal evolution of the foreign currency exchange market viewed from a weighted network perspective. Based on exchange rates for a set of 46 currencies (including precious metals), we construct different representations of the FX network depending on a choice of the base currency. Our results show that the network structure is not stable in time, but there are main clusters of currencies, which persist for a long period of time despite the fact that their size and content are variable. We find a long-term trend in the network's evolution which affects the USD and EUR nodes. In all the network representations, the USD node gradually loses its centrality, while, on contrary, the EUR node has become slightly more central than it used to be in its early years. Despite this directional trend, the overall evolution of the network is noisy.

  8. Cross-sample entropy of foreign exchange time series

    NASA Astrophysics Data System (ADS)

    Liu, Li-Zhi; Qian, Xi-Yuan; Lu, Heng-Yao

    2010-11-01

    The correlation of foreign exchange rates in currency markets is investigated based on the empirical data of DKK/USD, NOK/USD, CAD/USD, JPY/USD, KRW/USD, SGD/USD, THB/USD and TWD/USD for a period from 1995 to 2002. Cross-SampEn (cross-sample entropy) method is used to compare the returns of every two exchange rate time series to assess their degree of asynchrony. The calculation method of confidence interval of SampEn is extended and applied to cross-SampEn. The cross-SampEn and its confidence interval for every two of the exchange rate time series in periods 1995-1998 (before the Asian currency crisis) and 1999-2002 (after the Asian currency crisis) are calculated. The results show that the cross-SampEn of every two of these exchange rates becomes higher after the Asian currency crisis, indicating a higher asynchrony between the exchange rates. Especially for Singapore, Thailand and Taiwan, the cross-SampEn values after the Asian currency crisis are significantly higher than those before the Asian currency crisis. Comparison with the correlation coefficient shows that cross-SampEn is superior to describe the correlation between time series.

  9. 7 CFR 28.160 - Cotton examiners on foreign exchanges.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 2 2014-01-01 2014-01-01 false Cotton examiners on foreign exchanges. 28.160 Section... CONTAINER REGULATIONS COTTON CLASSING, TESTING, AND STANDARDS Regulations Under the United States Cotton Standards Act Adjustment of Contract Disputes § 28.160 Cotton examiners on foreign exchanges. Whenever...

  10. 7 CFR 28.160 - Cotton examiners on foreign exchanges.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 7 Agriculture 2 2012-01-01 2012-01-01 false Cotton examiners on foreign exchanges. 28.160 Section... CONTAINER REGULATIONS COTTON CLASSING, TESTING, AND STANDARDS Regulations Under the United States Cotton Standards Act Adjustment of Contract Disputes § 28.160 Cotton examiners on foreign exchanges. Whenever...

  11. 7 CFR 28.160 - Cotton examiners on foreign exchanges.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 7 Agriculture 2 2011-01-01 2011-01-01 false Cotton examiners on foreign exchanges. 28.160 Section... CONTAINER REGULATIONS COTTON CLASSING, TESTING, AND STANDARDS Regulations Under the United States Cotton Standards Act Adjustment of Contract Disputes § 28.160 Cotton examiners on foreign exchanges. Whenever...

  12. 7 CFR 28.160 - Cotton examiners on foreign exchanges.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 2 2013-01-01 2013-01-01 false Cotton examiners on foreign exchanges. 28.160 Section... CONTAINER REGULATIONS COTTON CLASSING, TESTING, AND STANDARDS Regulations Under the United States Cotton Standards Act Adjustment of Contract Disputes § 28.160 Cotton examiners on foreign exchanges. Whenever...

  13. 7 CFR 28.160 - Cotton examiners on foreign exchanges.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Cotton examiners on foreign exchanges. 28.160 Section... CONTAINER REGULATIONS COTTON CLASSING, TESTING, AND STANDARDS Regulations Under the United States Cotton Standards Act Adjustment of Contract Disputes § 28.160 Cotton examiners on foreign exchanges. Whenever...

  14. Foreign Exchange: Making International Payments More Cost Effective.

    ERIC Educational Resources Information Center

    Ruesch, Otto J.

    1993-01-01

    College business officers can save money, adhere better to budgets, and improve relations with international vendors through foreign monetary exchange. By comparing exchange rates and buying foreign currency when rates are good, institutions retain much more control over the transaction rate than if they delegate the task to the bank. (MSE)

  15. 76 FR 27633 - Notice of Funds Availability: Inviting Applications for Market Access Program, Foreign Market...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-05-12

    ... Commodity Credit Corporation Notice of Funds Availability: Inviting Applications for Market Access Program, Foreign Market Development Cooperator Program, Emerging Markets Program, Technical Assistance for... Program (FMD), Emerging Markets Program (EMP), Technical Assistance for Specialty Crops Program...

  16. Markets, distribution, and exchange after societal cataclysm

    SciTech Connect

    Cantor, R.A.; Henry, S.; Rayner, S.; Eastern Michigan Univ., Ypsilanti, MI . Dept. of Sociology; Oak Ridge National Lab., TN )

    1989-11-01

    The report identifies constraints and opportunities for the restoration of economic exchange following nuclear war. Four survival scenarios are postulated based on high or low levels of damage to (1) institutions that signal trading opportunities, reduce transaction costs, and regulate and enforce contracts, and (2) resources that are used to create and define wealth. The four scenarios are best case, worst case, resource abundance, and an institution intensive case. Three kinds of literature were reviewed, (1) the economics literature on formal markets, (2) the sociological literature on informal markets, and (3) the economic anthropology literature on pre-capitalist and pre-industrial exchange. From this corpus a set of non-market and market exchange structures are derived and rendered as rules vectors describing their operation. Each of the four survival scenarios is expounded as a subset of the possible exchange structures that is logically compatible with the constraints defining that scenario. 242 refs.

  17. Chaoticity in the time evolution of foreign currency exchange rates in Turkey

    NASA Astrophysics Data System (ADS)

    Cakar, O.; Aybar, O. O.; Hacinliyan, A. S.; Kusbeyzi, I.

    Tools from chaos theory that have found recent use in analysing financial markets have been applied to the US Dollar and Euro buying and selling rates against the Turkish currency. The reason for choosing the foreign exchange rate in this analysis is the fact that foreign currency is an indicator of not only the globalization of economy but also savings and investment. In order to test the globality assumption and to ascertain the degree of involvement of local conditions in Turkey, the Euro and US dollar exchange rates have been subjected to the same analysis.

  18. Forecasting Foreign Currency Exchange Rates for Air Force Budgeting

    DTIC Science & Technology

    2015-03-26

    Department of Systems Engineering and Management Graduate School of Engineering and Management Air Force Institute of Technology Air University Air...this thesis: the Federal Reserve Foreign Exchange Rate – H.10, the Global Insight forecasts, the Chicago Mercantile Exchange (CME) as taken through...foreign currency units per U.S. dollar for each day of the previous week (Board of Governors of the Federal Reserve System , 2015). Table 3 is a

  19. 76 FR 40779 - Retail Foreign Exchange Transactions

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-12

    ...The FDIC is adopting a final rule that imposes requirements for foreign currency futures, options on futures, and options that an insured depository institution supervised by the FDIC engages in with retail customers. The final rule also imposes requirements on other foreign currency transactions that are functionally or economically similar, including so-called ``rolling spot'' transactions......

  20. Microscopic analysis of currency and stock exchange markets

    NASA Astrophysics Data System (ADS)

    Kador, L.

    1999-08-01

    Recently it was shown that distributions of short-term price fluctuations in foreign-currency exchange exhibit striking similarities to those of velocity differences in turbulent flows. Similar profiles represent the spectral-diffusion behavior of impurity molecules in disordered solids at low temperatures. It is demonstrated that a microscopic statistical theory of the spectroscopic line shapes can be applied to the other two phenomena. The theory interprets the financial data in terms of information which becomes available to the traders and their reactions as a function of time. The analysis shows that there is no characteristic time scale in financial markets, but that instead stretched-exponential or algebraic memory functions yield good agreement with the price data. For an algebraic function, the theory yields truncated Lévy distributions which are often observed in stock exchange markets.

  1. Microscopic analysis of currency and stock exchange markets.

    PubMed

    Kador, L

    1999-08-01

    Recently it was shown that distributions of short-term price fluctuations in foreign-currency exchange exhibit striking similarities to those of velocity differences in turbulent flows. Similar profiles represent the spectral-diffusion behavior of impurity molecules in disordered solids at low temperatures. It is demonstrated that a microscopic statistical theory of the spectroscopic line shapes can be applied to the other two phenomena. The theory interprets the financial data in terms of information which becomes available to the traders and their reactions as a function of time. The analysis shows that there is no characteristic time scale in financial markets, but that instead stretched-exponential or algebraic memory functions yield good agreement with the price data. For an algebraic function, the theory yields truncated Lévy distributions which are often observed in stock exchange markets.

  2. Scaling and correlations in foreign exchange market

    NASA Astrophysics Data System (ADS)

    Jiang, J.; Ma, K.; Cai, X.

    2007-02-01

    We observe that the distribution of the relative return, describing the variation of a certain currency, of 74 global currencies obeys a power-law. By using the random matrix theory we find that the distribution of eigenvalues of correlation matrix of relative return also follows a power-law. Using a scaled factorial moment we investigate the distribution of correlation coefficients of the relative return and observe intermittence phenomenon. Furthermore, we define the influence strength for a certain currency, which reflects the influence of its price change to the community interested. By doing that, we find that the distribution of influence strength is again a power-law. Beyond that, we compare the influence strength of Chinese Yuan (RMB) to those of other seven important currencies, which may have some interesting indications.

  3. 76 FR 28358 - Retail Foreign Exchange Transactions

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-05-17

    ...The FDIC is proposing regulations that would impose requirements for foreign currency futures, options on futures, and options that an insured depository institution supervised by the Federal Deposit Insurance Corporation engages in with retail customers. Pursuant to section 742(c) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, such transactions will be prohibited as of July......

  4. On Value at Risk for Foreign Exchange Rates --- the Copula Approach

    NASA Astrophysics Data System (ADS)

    Jaworski, P.

    2006-11-01

    The aim of this paper is to determine the Value at Risk (VaR) of the portfolio consisting of long positions in foreign currencies on an emerging market. Basing on empirical data we restrict ourselves to the case when the tail parts of distributions of logarithmic returns of these assets follow the power laws and the lower tail of associated copula C follows the power law of degree 1. We will illustrate the practical usefulness of this approach by the analysis of the exchange rates of EUR and CHF at the Polish forex market.

  5. 77 FR 24171 - Notice of Funds Availability: Inviting Applications for the Foreign Market Development Cooperator...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-04-23

    ... also considers the extent to which a proposed project targets markets with the greatest growth... Commodity Credit Corporation Notice of Funds Availability: Inviting Applications for the Foreign Market... the 2013 Foreign Market Development Cooperator (Cooperator) program. The intended effect of...

  6. 76 FR 21327 - Notice of Funds Availability: Inviting Applications for the Foreign Market Development Cooperator...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-04-15

    ... also considers the extent to which a proposed project targets markets with the greatest growth... Commodity Credit Corporation Notice of Funds Availability: Inviting Applications for the Foreign Market... the 2012 Foreign Market Development Cooperator (Cooperator) program. The intended effect of...

  7. Labor market penalties for foreign degrees among college educated immigrants.

    PubMed

    Arbeit, Caren A; Warren, John Robert

    2013-05-01

    Are college degrees earned abroad worth less in the American economy than degrees earned in the United States? Do the labor market penalties associated with holding a foreign degree vary as a function of the country or region in which it was earned? Do these processes differ for men and women? We use data on 18,361 college-educated immigrants from the National Survey of College Graduates (NSCG) to address these questions. Female immigrants with foreign degrees are less likely to be employed than immigrant women who earned their degrees in the US. When employed, both female and male immigrants with foreign degrees are less likely to work in a job related to their highest college degree. Among employed female immigrants, the wage returns to foreign degrees are about 17% less than for US degrees; among male immigrants, this figure is about 11%. For both female and male immigrants, the labor market penalties associated with holding a foreign degree vary as a function of the region from which the foreign degree was obtained.

  8. Market Penalties for Foreign Degrees Among College Educated Immigrants

    PubMed Central

    Arbeit, Caren A.; Warren, John Robert

    2014-01-01

    Are college degrees earned abroad worth less in the American economy than degrees earned in the United States? Do the labor market penalties associated with holding a foreign degree vary as a function of the country or region in which it was earned? Do these processes differ for men and women? We use data on 18,365 college-educated immigrants from the National Survey of College Graduates (NSCG) to address these questions. Female immigrants with foreign degrees are less likely to be employed than immigrant women who earned their degrees in the US. When employed, both female and male immigrants with foreign degrees are less likely to work in a job related to their highest college degree. Among employed female immigrants, the wage returns to foreign degrees are about 17% less than for U.S. degrees; among male immigrants, this figure is about 11%. For both female and male immigrants, the labor market penalties associated with holding a foreign degree vary as a function of the region from which the foreign degree was obtained. PMID:23521999

  9. Using Web-Based Foreign Advertisements in International Marketing Classes

    ERIC Educational Resources Information Center

    Ryan, Jason

    2011-01-01

    The author examines the use of the Web-based foreign advertisements for enhancing the international awareness of undergraduate marketing students. An analysis compares the adaptation of advertisements for identical products to the cultural perceptions and values of consumers in different countries. In a sample of 110 international marketing…

  10. 77 FR 69694 - Determination of Foreign Exchange Swaps and Foreign Exchange Forwards Under the Commodity...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-20

    ... in monetary policy and the global payments system. This global strategy, led by the Committee on...; Global FX Division of SIFMA, et al. (``Global FX Division''), at 1-2. II. Overview of the Comments on the... predominantly as a global payments market and is used significantly by end-users for hedging purposes.\\16\\...

  11. Applying Foreign Entry Market Strategies to UK Higher Education Transnational Education Models

    ERIC Educational Resources Information Center

    Lindsay, Victoria; Antoniou, Christos

    2016-01-01

    We take a multidisciplinary approach mapping the models used by UK higher education (HE) institutions against established international business foreign market entry strategies. We review the conditions in host markets that facilitate market entry and consider how these will determine foreign market entry strategy. We specifically consider four…

  12. Detecting a currency's dominance or dependence using foreign exchange network trees

    NASA Astrophysics Data System (ADS)

    McDonald, Mark; Suleman, Omer; Williams, Stacy; Howison, Sam; Johnson, Neil F.

    2005-10-01

    In a system containing a large number of interacting stochastic processes, there will typically be many nonzero correlation coefficients. This makes it difficult to either visualize the system’s interdependencies, or identify its dominant elements. Such a situation arises in foreign exchange (FX), which is the world’s biggest market. Here we develop a network analysis of these correlations using minimum spanning trees (MSTs). We show that not only do the MSTs provide a meaningful representation of the global FX dynamics, but they also enable one to determine momentarily dominant and dependent currencies. We find that information about a country’s geographical ties emerges from the raw exchange-rate data. Most importantly from a trading perspective, we discuss how to infer which currencies are “in play” during a particular period of time.

  13. Detecting a currency's dominance or dependence using foreign exchange network trees.

    PubMed

    McDonald, Mark; Suleman, Omer; Williams, Stacy; Howison, Sam; Johnson, Neil F

    2005-10-01

    In a system containing a large number of interacting stochastic processes, there will typically be many nonzero correlation coefficients. This makes it difficult to either visualize the system's interdependencies, or identify its dominant elements. Such a situation arises in foreign exchange (FX), which is the world's biggest market. Here we develop a network analysis of these correlations using minimum spanning trees (MSTs). We show that not only do the MSTs provide a meaningful representation of the global FX dynamics, but they also enable one to determine momentarily dominant and dependent currencies. We find that information about a country's geographical ties emerges from the raw exchange-rate data. Most importantly from a trading perspective, we discuss how to infer which currencies are "in play" during a particular period of time.

  14. Maximizing the existing potential of new foreign markets for anthracite

    SciTech Connect

    Ziolkowski, L.W.; Ahn, Y.K.; Hong, S.P.

    1988-09-01

    The major purposes of this report were to: (1) conduct an in-depth survey of both the technical and marketing problems in the United States Anthracite Industry (predominately in Northeastern Pennsylvania); and (2) make recommendations in areas of technical R and D needs that will enhance the United States export of anthracite to foreign markets (especially Korea). The report identifies various anthracite culm drying and other coal utilization concepts; recommends several anthracite utilization configurations which appear to be the most suitable to the Korean market and a sensitivity analysis on these configurations; and identifies several solutions to resolve some of the problems which were identified relative to: (a) reducing the price of exporting anthracite; (b) the producers quality control activities which relate to meeting the Korean specifications and generally improving the understanding on the contract terms that relate to the encouragement of long term commitments of anthracite by Korea. 33 refs., 23 figs., 33 tabs.

  15. Inhomogeneous scaling behaviors in Malaysian foreign currency exchange rates

    NASA Astrophysics Data System (ADS)

    Muniandy, S. V.; Lim, S. C.; Murugan, R.

    2001-12-01

    In this paper, we investigate the fractal scaling behaviors of foreign currency exchange rates with respect to Malaysian currency, Ringgit Malaysia. These time series are examined piecewise before and after the currency control imposed in 1st September 1998 using the monofractal model based on fractional Brownian motion. The global Hurst exponents are determined using the R/ S analysis, the detrended fluctuation analysis and the method of second moment using the correlation coefficients. The limitation of these monofractal analyses is discussed. The usual multifractal analysis reveals that there exists a wide range of Hurst exponents in each of the time series. A new method of modelling the multifractal time series based on multifractional Brownian motion with time-varying Hurst exponents is studied.

  16. 75 FR 26191 - Notice of Funds Availability: Inviting Applications for the Foreign Market Development Cooperator...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-05-11

    .... The FAS also considers the extent to which a proposed project targets markets with the greatest growth... Commodity Credit Corporation Notice of Funds Availability: Inviting Applications for the Foreign Market... the 2011 Foreign Market Development Cooperator (Cooperator) program. The intended effect of...

  17. 78 FR 23888 - Notice of Funds Availability: Inviting Applications for the Foreign Market Development Cooperator...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-23

    ... project targets markets with the greatest growth potential. These factors are part of the FAS resource... Commodity Credit Corporation Notice of Funds Availability: Inviting Applications for the Foreign Market... the 2014 Foreign Market Development Cooperator (Cooperator) program. The intended effect of...

  18. Wood products trade and foreign markets: Asian market profile issue, November 1993. Foreign agriculture circular

    SciTech Connect

    Not Available

    1993-11-01

    Contents: trade summary; significant developments; status of usda/ccc export credit guarantees for wood products; US global export status; trends in US exports to the pacific rim; market profiles for wood products; pacific rim; europe; commodity/country trade tables; US exports, 1988 - 1st half 1993; US imports, 1988 - 1st half 1993.

  19. Wood products trade and foreign markets: european market profile issue, July 1994. Foreign agriculture circular

    SciTech Connect

    Not Available

    1994-07-01

    ;Contents: Trade Highlights; Top Five Markets for U.S. Wood Products; Status of USDA/CCC Export Credit Guarantees for Wood Products; Profiles for Wood Products; European Union; Austria; Belgium-Luxembourg; Denmark; Commodity/Country Trade Tables; Corrigendum; Wood Products Trade Account, 1st Quarter 1994; U.S. Exports, for 1989 - 1st Quarter 1994; Value of Wood Products, by Country; Value of Wood Products, by Commodity.

  20. 17 CFR 3.10 - Registration of futures commission merchants, retail foreign exchange dealers, introducing...

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 17 Commodity and Securities Exchanges 1 2014-04-01 2014-04-01 false Registration of futures commission merchants, retail foreign exchange dealers, introducing brokers, commodity trading advisors... Section 3.10 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION...

  1. Foreign Bodies in Dried Mushrooms Marketed in Italy

    PubMed Central

    Manno, Claudia; Zimmardi, Antonina; Vodret, Bruna; Tilocca, Maria Giovanna; Altissimi, Serena; Haouet, Naceur M.

    2014-01-01

    The presence of foreign bodies in mushrooms affects their marketability and may result in health risks to consumers. The inspection of fresh or dried mushrooms today is very important in view of the increased consumption of this kind of food. Ten samples of dried mushrooms collected in supermarkets were examined for evidence of entomological contamination by macro and microscopic analytical methods, the so-called filth-test. A total of 49 46 determinations, comprising 15 g of the vegetable matrix, were made. The microscopic filth test consistently detected an irregular distribution of physical contaminants following repeated determinations of the same sample. Visual examination, on the other hand, was not sufficient to ensure a product free of contaminants. PMID:27800414

  2. On the Dominant Status of American Educational Market for Foreign Students since 1980s

    ERIC Educational Resources Information Center

    Shu, Jun

    2012-01-01

    The article first probes into some reasons for the formation and the rise of the world educational market for foreign students. Then the article focuses on several important ensuring the absolutely dominant status of the U.S. educational market for foreign students in the world since 1980s and finally concludes that it is the U.S. world-leading…

  3. Markets, Distribution, and Exchange after Societal Cataclysm

    DTIC Science & Technology

    1988-03-01

    heterogeneous, as with the copper plates exchanged by the Kwakiutl in their potlatches . These coppers derive their value from their particular histories of...1922, Singh Uberoi 1962), blankets and coppers in Kwakiutl potlatch (Codere 1950), iron rods among the Tiv of central Nigeria (Bohannan 1959), or as

  4. 75 FR 66829 - Determination of Foreign Exchange Swaps and Forwards

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-10-29

    ... date at a fixed rate that is agreed upon on the inception of the contract covering the exchange; and (B... rate that is agreed upon on the inception of the contract covering the exchange.''). \\4\\ 7 U.S.C. 1a(24... at a fixed rate agreed upon on the inception of the contract covering the exchange.''). \\5\\ 7...

  5. Language and Culture Exchange in Foreign Language Learning: An Experiment and Recommendations

    ERIC Educational Resources Information Center

    Lockley, Thomas; Yoshida, Chiharu

    2016-01-01

    This study attempts to build on the little work that has been done so far on empirically and systematically researching what language and culture exchange (LCE) in the classroom between students of different foreign languages means to those students. It describes the context and method used to build such an exchange and after reviewing relevant…

  6. 77 FR 50016 - Extension of Interim Final Temporary Rule on Retail Foreign Exchange Transactions; Correction

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-20

    ... COMMISSION 17 CFR Part 240 RIN 3235-AL19 Extension of Interim Final Temporary Rule on Retail Foreign Exchange Transactions; Correction AGENCY: Securities and Exchange Commission. ACTION: Interim final temporary rule... interim final temporary Rule 15b12-1T to extend the date on which the rule will expire. That rule...

  7. Analysis of high-resolution foreign exchange data of USD-JPY for 13 years

    NASA Astrophysics Data System (ADS)

    Mizuno, Takayuki; Kurihara, Shoko; Takayasu, Misako; Takayasu, Hideki

    2003-06-01

    We analyze high-resolution foreign exchange data consisting of 20 million data points of USD-JPY for 13 years to report firm statistical laws in distributions and correlations of exchange rate fluctuations. A conditional probability density analysis clearly shows the existence of trend-following movements at time scale of 8-ticks, about 1 min.

  8. 17 CFR 3.12 - Registration of associated persons of futures commission merchants, retail foreign exchange...

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 17 Commodity and Securities Exchanges 1 2012-04-01 2012-04-01 false Registration of associated persons of futures commission merchants, retail foreign exchange dealers, introducing brokers, commodity trading advisors, commodity pool operators and leverage transaction merchants. 3.12 Section 3.12...

  9. 17 CFR 3.12 - Registration of associated persons of futures commission merchants, retail foreign exchange...

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 17 Commodity and Securities Exchanges 1 2014-04-01 2014-04-01 false Registration of associated persons of futures commission merchants, retail foreign exchange dealers, introducing brokers, commodity trading advisors, commodity pool operators and leverage transaction merchants. 3.12 Section 3.12...

  10. 17 CFR 3.12 - Registration of associated persons of futures commission merchants, retail foreign exchange...

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 17 Commodity and Securities Exchanges 1 2011-04-01 2011-04-01 false Registration of associated persons of futures commission merchants, retail foreign exchange dealers, introducing brokers, commodity trading advisors, commodity pool operators and leverage transaction merchants. 3.12 Section 3.12...

  11. 17 CFR 3.12 - Registration of associated persons of futures commission merchants, retail foreign exchange...

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 17 Commodity and Securities Exchanges 1 2013-04-01 2013-04-01 false Registration of associated persons of futures commission merchants, retail foreign exchange dealers, introducing brokers, commodity trading advisors, commodity pool operators and leverage transaction merchants. 3.12 Section 3.12...

  12. 17 CFR 5.10 - Risk assessment recordkeeping requirements for retail foreign exchange dealers.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 17 Commodity and Securities Exchanges 1 2012-04-01 2012-04-01 false Risk assessment recordkeeping... COMMODITY FUTURES TRADING COMMISSION OFF-EXCHANGE FOREIGN CURRENCY TRANSACTIONS § 5.10 Risk assessment... to § 240.17h-1T of this title, or such other risk assessment regulations as the Securities...

  13. 17 CFR 5.10 - Risk assessment recordkeeping requirements for retail foreign exchange dealers.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 17 Commodity and Securities Exchanges 1 2014-04-01 2014-04-01 false Risk assessment recordkeeping... COMMODITY FUTURES TRADING COMMISSION OFF-EXCHANGE FOREIGN CURRENCY TRANSACTIONS § 5.10 Risk assessment... to § 240.17h-1T of this title, or such other risk assessment regulations as the Securities...

  14. 17 CFR 5.11 - Risk assessment reporting requirements for retail foreign exchange dealers.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 17 Commodity and Securities Exchanges 1 2013-04-01 2013-04-01 false Risk assessment reporting... COMMODITY FUTURES TRADING COMMISSION OFF-EXCHANGE FOREIGN CURRENCY TRANSACTIONS § 5.11 Risk assessment... and preserve information pursuant to § 240.17h-1T of this title, or such other risk...

  15. 17 CFR 5.10 - Risk assessment recordkeeping requirements for retail foreign exchange dealers.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 17 Commodity and Securities Exchanges 1 2011-04-01 2011-04-01 false Risk assessment recordkeeping... COMMODITY FUTURES TRADING COMMISSION OFF-EXCHANGE FOREIGN CURRENCY TRANSACTIONS § 5.10 Risk assessment... to § 240.17h-1T of this title, or such other risk assessment regulations as the Securities...

  16. 17 CFR 5.10 - Risk assessment recordkeeping requirements for retail foreign exchange dealers.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 17 Commodity and Securities Exchanges 1 2013-04-01 2013-04-01 false Risk assessment recordkeeping... COMMODITY FUTURES TRADING COMMISSION OFF-EXCHANGE FOREIGN CURRENCY TRANSACTIONS § 5.10 Risk assessment... to § 240.17h-1T of this title, or such other risk assessment regulations as the Securities...

  17. The Impact of Foreign Policy on Educational Exchange: The Swedish State Scholarship Programme 1938-1990

    ERIC Educational Resources Information Center

    Åkerlund, Andreas

    2014-01-01

    Programmes of international educational exchange are not only carried out for educational purposes, but form an important part of modern-day public diplomacy. Through exchange programmes education and research are linked with foreign policy interests, which then in turn should affect the international contacts of universities and research…

  18. Foreign Currency Exchange Problems Relating to the Book Trade

    ERIC Educational Resources Information Center

    Moran, Michael

    1973-01-01

    In the purchase of books from foreign countries, the basic problem with regard to currency is to decide which currency will be used in these transactions, and how to reach agreement with vendors on this point. (11 references) (Author)

  19. Diffusive and Arrestedlike Dynamics in Currency Exchange Markets

    NASA Astrophysics Data System (ADS)

    Clara-Rahola, J.; Puertas, A. M.; Sánchez-Granero, M. A.; Trinidad-Segovia, J. E.; de las Nieves, F. J.

    2017-02-01

    This work studies the symmetry between colloidal dynamics and the dynamics of the Euro-U.S. dollar currency exchange market (EURUSD). We consider the EURUSD price in the time range between 2001 and 2015, where we find significant qualitative symmetry between fluctuation distributions from this market and the ones belonging to colloidal particles in supercooled or arrested states. In particular, we find that models used for arrested physical systems are suitable for describing the EURUSD fluctuation distributions. Whereas the corresponding mean-squared price displacement (MSPD) to the EURUSD is diffusive for all years, when focusing in selected time frames within a day, we find a two-step MSPD when the New York Stock Exchange market closes, comparable to the dynamics in supercooled systems. This is corroborated by looking at the price correlation functions and non-Gaussian parameters and can be described by the theoretical model. We discuss the origin and implications of this analogy.

  20. The Development and Application of a Market Entry Process for Foreign Universities Entering the Chinese Higher Education Market

    ERIC Educational Resources Information Center

    Willis, Mike

    2006-01-01

    This paper presents the results of a 7-year research project which was designed to identify the most common market entry processes used by foreign universities entering the Chinese education market through alliances with Chinese counterparts. The research identifies a three-stage entry process which was used by most of the 220 universities studied…

  1. Policies and Procedures for Foreign Exchange Agencies. First Edition.

    ERIC Educational Resources Information Center

    Hartman, Donald D.

    The guide details the policy of the Jefferson County (Alabama) Board of Education policy concerning international exchange of students (travel both to and from United States) in elementary and secondary grades. The first section specifies the standards by which the county will evaluate all international exchange agencies concerning structure,…

  2. Statistical physics in foreign exchange currency and stock markets

    NASA Astrophysics Data System (ADS)

    Ausloos, M.

    2000-09-01

    Problems in economy and finance have attracted the interest of statistical physicists all over the world. Fundamental problems pertain to the existence or not of long-, medium- or/and short-range power-law correlations in various economic systems, to the presence of financial cycles and on economic considerations, including economic policy. A method like the detrended fluctuation analysis is recalled emphasizing its value in sorting out correlation ranges, thereby leading to predictability at short horizon. The ( m, k)-Zipf method is presented for sorting out short-range correlations in the sign and amplitude of the fluctuations. A well-known financial analysis technique, the so-called moving average, is shown to raise questions to physicists about fractional Brownian motion properties. Among spectacular results, the possibility of crash predictions has been demonstrated through the log-periodicity of financial index oscillations.

  3. Modelling world gold prices and USD foreign exchange relationship using multivariate GARCH model

    NASA Astrophysics Data System (ADS)

    Ping, Pung Yean; Ahmad, Maizah Hura Binti

    2014-12-01

    World gold price is a popular investment commodity. The series have often been modeled using univariate models. The objective of this paper is to show that there is a co-movement between gold price and USD foreign exchange rate. Using the effect of the USD foreign exchange rate on the gold price, a model that can be used to forecast future gold prices is developed. For this purpose, the current paper proposes a multivariate GARCH (Bivariate GARCH) model. Using daily prices of both series from 01.01.2000 to 05.05.2014, a causal relation between the two series understudied are found and a bivariate GARCH model is produced.

  4. Generalized Bogoliubov Polariton Model: An Application to Stock Exchange Market

    NASA Astrophysics Data System (ADS)

    Thuy Anh, Chu; Anh, Truong Thi Ngoc; Lan, Nguyen Tri; Viet, Nguyen Ai

    2016-06-01

    A generalized Bogoliubov method for investigation non-simple and complex systems was developed. We take two branch polariton Hamiltonian model in second quantization representation and replace the energies of quasi-particles by two distribution functions of research objects. Application to stock exchange market was taken as an example, where the changing the form of return distribution functions from Boltzmann-like to Gaussian-like was studied.

  5. Imported Talent: Foreign Immigration and the New England Labor Market

    ERIC Educational Resources Information Center

    Sum, Andrew; Trubs'kyy, Mykhaylo; Fogg, Neeta P.

    2003-01-01

    The impacts of foreign immigration on population and labor force growth during the 1990s varied widely across U.S. geographic regions, divisions and states. New England was far more dependent than nearly all other regions on the new wave of foreign immigrants to achieve its population growth and labor force growth during the past decade. In fact,…

  6. Foreign Languages in the Market Place: Business German.

    ERIC Educational Resources Information Center

    Coombs, Virginia M.

    1981-01-01

    Since the publication of the report of the President's Commission on Foreign Languages and International Study, U.S. incompetence in foreign languages, as well as efforts of secondary and post-secondary institutions to remedy the matter, have received much attention. Course offerings and curricular innovations have attempted to meet the career…

  7. Monitoring Foreign Students in the United States: The Student and Exchange Visitor Information System (SEVIS)

    DTIC Science & Technology

    2005-01-14

    Students in the United States: The Student and Exchange Visitor Information System ( SEVIS ) Updated January 14, 2005 Alison Siskin Analyst in Social...Students in the United States: The Student and Exchange Visitor Information System ( SEVIS ) 5a. CONTRACT NUMBER 5b. GRANT NUMBER 5c. PROGRAM ELEMENT...Visitor Information System ( SEVIS ) Summary There has been increased interest in monitoring foreign students while maintaining the long tradition of

  8. 76 FR 46652 - Retail Foreign Exchange Transactions (Regulation NN)

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-03

    ... the Dodd-Frank Act,\\2\\ the Commodity Exchange Act (CEA) provides that a United States financial... defines ``financial institution'' to include an agreement corporation, an Edge Act corporation, a depository institution (as defined in section 3 of the Federal Deposit Insurance Act), a financial...

  9. 12 CFR Appendix A to Subpart A of... - Minimum Capital Components for Interest Rate and Foreign Exchange Rate Contracts

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... and Foreign Exchange Rate Contracts A Appendix A to Subpart A of Part 1750 Banks and Banking OFFICE OF... CAPITAL Minimum Capital Pt. 1750, Subpt. A, App. A Appendix A to Subpart A of Part 1750—Minimum Capital... sheet interest rate and foreign exchange rate contracts: a. Interest Rate Contracts i. Single...

  10. 12 CFR Appendix A to Subpart A of... - Minimum Capital Components for Interest Rate and Foreign Exchange Rate Contracts

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... and Foreign Exchange Rate Contracts A Appendix A to Subpart A of Part 1750 Banks and Banking OFFICE OF... CAPITAL Minimum Capital Pt. 1750, Subpt. A, App. A Appendix A to Subpart A of Part 1750—Minimum Capital... sheet interest rate and foreign exchange rate contracts: a. Interest Rate Contracts i. Single...

  11. 12 CFR Appendix A to Subpart A of... - Minimum Capital Components for Interest Rate and Foreign Exchange Rate Contracts

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... and Foreign Exchange Rate Contracts A Appendix A to Subpart A of Part 1750 Banks and Banking OFFICE OF... CAPITAL Minimum Capital Pt. 1750, Subpt. A, App. A Appendix A to Subpart A of Part 1750—Minimum Capital... sheet interest rate and foreign exchange rate contracts: a. Interest Rate Contracts i. Single...

  12. 12 CFR Appendix A to Subpart A of... - Minimum Capital Components for Interest Rate and Foreign Exchange Rate Contracts

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... and Foreign Exchange Rate Contracts A Appendix A to Subpart A of Part 1750 Banks and Banking OFFICE OF... CAPITAL Minimum Capital Pt. 1750, Subpt. A, App. A Appendix A to Subpart A of Part 1750—Minimum Capital... sheet interest rate and foreign exchange rate contracts: a. Interest Rate Contracts i. Single...

  13. 12 CFR Appendix A to Subpart A of... - Minimum Capital Components for Interest Rate and Foreign Exchange Rate Contracts

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... and Foreign Exchange Rate Contracts A Appendix A to Subpart A of Part 1750 Banks and Banking OFFICE OF... CAPITAL Minimum Capital Pt. 1750, Subpt. A, App. A Appendix A to Subpart A of Part 1750—Minimum Capital... sheet interest rate and foreign exchange rate contracts: a. Interest Rate Contracts i. Single...

  14. 17 CFR 1.1 - Fraud in or in connection with transactions in foreign currency subject to the Commodity Exchange...

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Fraud in or in connection with transactions in foreign currency subject to the Commodity Exchange Act. 1.1 Section 1.1 Commodity and... ACT Definitions § 1.1 Fraud in or in connection with transactions in foreign currency subject to...

  15. 17 CFR 5.11 - Risk assessment reporting requirements for retail foreign exchange dealers.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... flow statements for the highest level Material Affiliated Person within the retail foreign exchange... material change in information provided, an updated organizational chart shall be filed within sixty... there is a material change in information provided, such change shall be reported within sixty...

  16. 17 CFR 5.11 - Risk assessment reporting requirements for retail foreign exchange dealers.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... flow statements for the highest level Material Affiliated Person within the retail foreign exchange... material change in information provided, an updated organizational chart shall be filed within sixty... there is a material change in information provided, such change shall be reported within sixty...

  17. 17 CFR 5.11 - Risk assessment reporting requirements for retail foreign exchange dealers.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... flow statements for the highest level Material Affiliated Person within the retail foreign exchange... material change in information provided, an updated organizational chart shall be filed within sixty... there is a material change in information provided, such change shall be reported within sixty...

  18. Researching Online Foreign Language Interaction and Exchange: Theories, Methods and Challenges. Telecollaboration in Education. Volume 3

    ERIC Educational Resources Information Center

    Dooly, Melinda; O'Dowd, Robert

    2012-01-01

    This book provides an accessible introduction to some of the methods and theoretical approaches for investigating foreign language (FL) interaction and exchange in online environments. Research approaches which can be applied to Computer-Mediated Communication (CMC) are outlined, followed by discussion of the way in which tools and techniques for…

  19. 78 FR 55057 - Authority To Manufacture Carbon Fiber for the U.S. Market Not Approved; Foreign-Trade Subzone...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-09-09

    ... Foreign-Trade Zones Board Authority To Manufacture Carbon Fiber for the U.S. Market Not Approved; Foreign... manufacture carbon fiber under zone procedures for the U.S. market within Subzone 148C at the TTA facility in... authority to manufacture carbon fiber for the U.S. market under zone procedures within Subzone 148C at...

  20. The American Foreign Exchange Option in Time-Dependent One-Dimensional Diffusion Model for Exchange Rate

    SciTech Connect

    Rehman, Nasir Shashiashvili, Malkhaz

    2009-06-15

    The classical Garman-Kohlhagen model for the currency exchange assumes that the domestic and foreign currency risk-free interest rates are constant and the exchange rate follows a log-normal diffusion process.In this paper we consider the general case, when exchange rate evolves according to arbitrary one-dimensional diffusion process with local volatility that is the function of time and the current exchange rate and where the domestic and foreign currency risk-free interest rates may be arbitrary continuous functions of time. First non-trivial problem we encounter in time-dependent case is the continuity in time argument of the value function of the American put option and the regularity properties of the optimal exercise boundary. We establish these properties based on systematic use of the monotonicity in volatility for the value functions of the American as well as European options with convex payoffs together with the Dynamic Programming Principle and we obtain certain type of comparison result for the value functions and corresponding exercise boundaries for the American puts with different strikes, maturities and volatilities.Starting from the latter fact that the optimal exercise boundary curve is left continuous with right-hand limits we give a mathematically rigorous and transparent derivation of the significant early exercise premium representation for the value function of the American foreign exchange put option as the sum of the European put option value function and the early exercise premium.The proof essentially relies on the particular property of the stochastic integral with respect to arbitrary continuous semimartingale over the predictable subsets of its zeros. We derive from the latter the nonlinear integral equation for the optimal exercise boundary which can be studied by numerical methods.

  1. Simulated Foreign Policy Exchanges. The Rationale Underlying a Theory of Foreign Policy Interaction

    DTIC Science & Technology

    1973-08-01

    interest to empirical psychology ; but it is irrelevant to the logical analysis of scientific knowledge. This latter is concerned not with queationa of fact...foreign policy interactions. 5. Research in psychology tends to support the notion of reci- procity. Taylor (1965) and Tognoli (1967) provide evidence...Experimental Negotiations." In J. Berger, M. Zelditch, Jr., and B. Anderson Sociological Theories in Progress. New York: Houghton Miff1 in. BRUNER

  2. [Adjustment processes of foreign exchange high school students in Japan].

    PubMed

    Nagai, S

    1988-04-01

    The main purpose of the present study was to excavate the adjustment problems of 93 high school exchange students in Japan. Questionnaires including Cornell Medical Index (CMI) were administered longitudinally. In addition, individual interviews were held with those who had failed to adjust to the Japanese society. As for the subjective psychosomatic symptoms manifested in CMI, there was no significant sex difference while Asians were successively found to be significantly more liable to diseases and less adjusted than non-Asians. The questionnaires other than CMI disclosed difficulties which exchange students found in adjusting at Japanese home, including delicate personal relationships with host siblings, apparent lack of affective gestures (hugs and kisses), and early curfew. In the meanwhile, language barrier and trifling rules constituted the primary difficulties they faced at host school. On account of prejudice against women, girls had more unpleasant experiences than boys. Through individual interviews, all of the early returners were found to have already had a basic problem in their home countries.

  3. Alternative Approaches for Educating Future Global Marketing Professionals: A Comparison of Foreign Study and Research-Intensive Marketing Programs

    ERIC Educational Resources Information Center

    Kaufman, Peter A.; Melton, Horace L.; Varner, Iris I.; Hoelscher, Mark; Schmidt, Klaus; Spaulding, Aslihan D.

    2011-01-01

    Using an experiential learning model as a conceptual background, this article discusses characteristics and learning objectives for well-known foreign study programs such as study tours, study abroad, and internships and compares them with a less common overseas program called the "Global Marketing Program" (GMP). GMP involves…

  4. Preparing Foreign Language Students for Today's Job Market.

    ERIC Educational Resources Information Center

    Garfinkel, Alan; Schrank, Holly L.

    College language teachers should become more aware of the needs of the job market and the specific ways that language majors can use their unique characteristics to satisfy those needs. Then students must be made aware of this information. The principles of marketing can be used to examine job requirements. Steps in applying these principles…

  5. Foreign Language Learning, Motivation and the Market Economy

    ERIC Educational Resources Information Center

    Diamantatou, Christina; Hawes, Thomas

    2016-01-01

    This study explores UK students' motivation to study foreign languages, linking unrewarding past learning experiences with attrition rates and posing questions about the influence of official policy and socially structured conditions. 31 Further Education college students were given a questionnaire based on Gardner's (1975) Attitude/Motivation…

  6. Foreign Language Skills for Employability in the EU Labour Market

    ERIC Educational Resources Information Center

    Grasmane, Daina; Grasmane, Sanita

    2011-01-01

    To confront rising unemployment, skills of the labour force must be improved. With the aim to find out how foreign language skills impact employability, a study was carried out, in which 61 undergraduates, 33 master's students and 33 doctoral students from the Latvian University of Agriculture participated. The findings testify that 38% of the…

  7. Promoting Value for Consumers: Comparing Individual Health Insurance Markets Inside and Outside the ACA's Exchanges.

    PubMed

    McCue, Michael J; Hall, Mark A

    2016-06-01

    The new health insurance exchanges are the core of the Affordable Care Act's (ACA) insurance reforms, but insurance markets beyond the exchanges also are affected by the reforms. This issue brief compares the markets for individual coverage on and off of the exchanges, using insurers' most recent projections for ACA-compliant policies. In 2016, insurers expect that less than one-fifth of ACA-compliant coverage will be sold outside of the exchanges. Insurers that sell mostly through exchanges devote a greater portion of their premium dollars to medical care than do insurers selling only off of the exchanges, because exchange insurers project lower administrative costs and lower profit margins. Premium increases on exchange plans are less than those for off-exchange plans, in large part because exchange enrollment is projected to shift to closed-network plans. Finally, initial concerns that insurers might seek to segregate higher-risk subscribers on the exchanges have not been realized.

  8. Migration-driven aggregation behaviors in job markets with direct foreign immigration

    NASA Astrophysics Data System (ADS)

    Sun, Ruoyan

    2014-09-01

    This Letter introduces a new set of rate equations describing migration-driven aggregation behaviors in job markets with direct foreign immigration. We divide the job market into two groups: native and immigrant. A reversible migration of jobs exists in both groups. The interaction between two groups creates a birth and death rate for the native job market. We find out that regardless of initial conditions or the rates, the total number of cities with either job markets decreases. This indicates a more concentrated job markets for both groups in the future. On the other hand, jobs available for immigrants increase over time but the ones for natives are uncertain. The native job markets can either expand or shrink or remain constant due to combined effects of birth and death rates. Finally, we test our analytical results with the population data of all counties in the US from 2000 to 2011.

  9. 12 CFR 225.136 - Utilization of foreign subsidiaries to sell long-term debt obligations in foreign markets and to...

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 3 2011-01-01 2011-01-01 false Utilization of foreign subsidiaries to sell long-term debt obligations in foreign markets and to transfer the proceeds to their United States... CONTROL (REGULATION Y) Regulations Financial Holding Companies Interpretations § 225.136 Utilization...

  10. Expanding Markets: Foreign Direct Investment as a Lesson in Economic Geography

    ERIC Educational Resources Information Center

    Kalafsky, Ronald

    2012-01-01

    Firms face numerous challenges when looking to invest internationally, not the least of which includes understanding the business environment of a new market. Given the expansion and impacts of foreign direct investment (FDI), it has become increasingly important for students to understand and analyze the motivations, concerns, and strategies of…

  11. 75 FR 55409 - Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-09-10

    ... economic and market factors. It is the Commission's view that revised Regulation 5.9 will provide a... registrants or with the financial instability of such persons.'' \\18\\ The Commission does not view these dual... view of any particular program. However, the Commission believes that if such programs are nothing...

  12. 76 FR 6128 - Energy Exchange International, LLC; Supplemental Notice That Initial Market-Based Rate Filing...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-02-03

    ...-000] Energy Exchange International, LLC; Supplemental Notice That Initial Market-Based Rate Filing... the above-referenced proceeding Energy Exchange International, LLC's application for market-based rate authority, with an accompanying rate tariff, noting that such application includes a request for...

  13. Recruitment of Foreigners in the Market for Computer Scientists in the United States.

    PubMed

    Bound, John; Braga, Breno; Golden, Joseph M; Khanna, Gaurav

    2015-07-01

    We present and calibrate a dynamic model that characterizes the labor market for computer scientists. In our model, firms can recruit computer scientists from recently graduated college students, from STEM workers working in other occupations or from a pool of foreign talent. Counterfactual simulations suggest that wages for computer scientists would have been 2.8-3.8% higher, and the number of Americans employed as computers scientists would have been 7.0-13.6% higher in 2004 if firms could not hire more foreigners than they could in 1994. In contrast, total CS employment would have been 3.8-9.0% lower, and consequently output smaller.

  14. Modeling and forecasting foreign exchange daily closing prices with normal inverse Gaussian

    NASA Astrophysics Data System (ADS)

    Teneng, Dean

    2013-09-01

    We fit the normal inverse Gaussian(NIG) distribution to foreign exchange closing prices using the open software package R and select best models by Käärik and Umbleja (2011) proposed strategy. We observe that daily closing prices (12/04/2008 - 07/08/2012) of CHF/JPY, AUD/JPY, GBP/JPY, NZD/USD, QAR/CHF, QAR/EUR, SAR/CHF, SAR/EUR, TND/CHF and TND/EUR are excellent fits while EGP/EUR and EUR/GBP are good fits with a Kolmogorov-Smirnov test p-value of 0.062 and 0.08 respectively. It was impossible to estimate normal inverse Gaussian parameters (by maximum likelihood; computational problem) for JPY/CHF but CHF/JPY was an excellent fit. Thus, while the stochastic properties of an exchange rate can be completely modeled with a probability distribution in one direction, it may be impossible the other way around. We also demonstrate that foreign exchange closing prices can be forecasted with the normal inverse Gaussian (NIG) Lévy process, both in cases where the daily closing prices can and cannot be modeled by NIG distribution.

  15. 17 CFR 5.6 - Maintenance of minimum financial requirements by retail foreign exchange dealers and futures...

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... engaging in retail forex transactions. 5.6 Section 5.6 Commodity and Securities Exchanges COMMODITY FUTURES... forex transactions. (a) Each futures commission merchant offering or engaging in retail forex... engage in retail forex transactions and each person registered as a retail foreign exchange dealer or...

  16. 17 CFR 5.6 - Maintenance of minimum financial requirements by retail foreign exchange dealers and futures...

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... engaging in retail forex transactions. 5.6 Section 5.6 Commodity and Securities Exchanges COMMODITY FUTURES... forex transactions. (a) Each futures commission merchant offering or engaging in retail forex... engage in retail forex transactions and each person registered as a retail foreign exchange dealer or...

  17. 17 CFR 5.6 - Maintenance of minimum financial requirements by retail foreign exchange dealers and futures...

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... engaging in retail forex transactions. 5.6 Section 5.6 Commodity and Securities Exchanges COMMODITY FUTURES... forex transactions. (a) Each futures commission merchant offering or engaging in retail forex... engage in retail forex transactions and each person registered as a retail foreign exchange dealer or...

  18. 17 CFR 5.6 - Maintenance of minimum financial requirements by retail foreign exchange dealers and futures...

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... engaging in retail forex transactions. 5.6 Section 5.6 Commodity and Securities Exchanges COMMODITY FUTURES... forex transactions. (a) Each futures commission merchant offering or engaging in retail forex... engage in retail forex transactions and each person registered as a retail foreign exchange dealer or...

  19. 26 CFR 1.1249-1 - Gain from certain sales or exchanges of patents, etc., to foreign corporations.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 26 Internal Revenue 11 2013-04-01 2013-04-01 false Gain from certain sales or exchanges of patents... Determining Capital Gains and Losses § 1.1249-1 Gain from certain sales or exchanges of patents, etc., to foreign corporations. (a) General rule. Section 1249 provides that if gain is recognized from the sale...

  20. 26 CFR 1.1249-1 - Gain from certain sales or exchanges of patents, etc., to foreign corporations.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 26 Internal Revenue 11 2014-04-01 2014-04-01 false Gain from certain sales or exchanges of patents... Determining Capital Gains and Losses § 1.1249-1 Gain from certain sales or exchanges of patents, etc., to foreign corporations. (a) General rule. Section 1249 provides that if gain is recognized from the sale...

  1. 26 CFR 1.1249-1 - Gain from certain sales or exchanges of patents, etc., to foreign corporations.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 26 Internal Revenue 11 2011-04-01 2011-04-01 false Gain from certain sales or exchanges of patents... Determining Capital Gains and Losses § 1.1249-1 Gain from certain sales or exchanges of patents, etc., to foreign corporations. (a) General rule. Section 1249 provides that if gain is recognized from the sale...

  2. 26 CFR 1.1249-1 - Gain from certain sales or exchanges of patents, etc., to foreign corporations.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Gain from certain sales or exchanges of patents... Capital Gains and Losses § 1.1249-1 Gain from certain sales or exchanges of patents, etc., to foreign corporations. (a) General rule. Section 1249 provides that if gain is recognized from the sale or...

  3. 26 CFR 1.1249-1 - Gain from certain sales or exchanges of patents, etc., to foreign corporations.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 26 Internal Revenue 11 2012-04-01 2012-04-01 false Gain from certain sales or exchanges of patents... Determining Capital Gains and Losses § 1.1249-1 Gain from certain sales or exchanges of patents, etc., to foreign corporations. (a) General rule. Section 1249 provides that if gain is recognized from the sale...

  4. Asymmetric MF-DCCA method based on risk conduction and its application in the Chinese and foreign stock markets

    NASA Astrophysics Data System (ADS)

    Cao, Guangxi; Han, Yan; Li, Qingchen; Xu, Wei

    2017-02-01

    The acceleration of economic globalization gradually shows the linkage of the stock markets in various counties and produces a risk conduction effect. An asymmetric MF-DCCA method is conducted based on the different directions of risk conduction (DMF-ADCCA) and by using the traditional MF-DCCA. To ensure that the empirical results are more objective and robust, this study selects the stock index data of China, the US, Germany, India, and Brazil from January 2011 to September 2014 using the asymmetric MF-DCCA method based on different risk conduction effects and nonlinear Granger causality tests to study the asymmetric cross-correlation between domestic and foreign stock markets. Empirical results indicate the existence of a bidirectional conduction effect between domestic and foreign stock markets, and the greater influence degree from foreign countries to domestic market compared with that from the domestic market to foreign countries.

  5. Joint Venture Marketing Training: Development Marketing Plans Utilizing Foreign and American Students.

    ERIC Educational Resources Information Center

    Steele, David; Jones, Kevin

    This paper describes a workshop prepared and presented by the Business Administration Department of the University of Wisconsin-Eau Claire, that is designed to provide training in evaluating a European market for an American product and preparing a plan for marketing the product in Europe. It is noted that the program can work with both students…

  6. Currency Exchange Rates.

    ERIC Educational Resources Information Center

    Siler, Carl R.

    This curriculum unit of the Muncie (Indiana) Southside High School is to simulate the dynamics of foreign currency exchange rates from the perspectives of: (1) a major U.S. corporation, ABB Power T & D Company, Inc., of Muncie, Indiana, a manufacturer of large power transformers for the domestic and foreign markets; and (2) individual…

  7. Programmed protection of foreign DNA from restriction allows pathogenicity island exchange during pneumococcal transformation.

    PubMed

    Johnston, Calum; Martin, Bernard; Granadel, Chantal; Polard, Patrice; Claverys, Jean-Pierre

    2013-02-01

    In bacteria, transformation and restriction-modification (R-M) systems play potentially antagonistic roles. While the former, proposed as a form of sexuality, relies on internalized foreign DNA to create genetic diversity, the latter degrade foreign DNA to protect from bacteriophage attack. The human pathogen Streptococcus pneumoniae is transformable and possesses either of two R-M systems, DpnI and DpnII, which respectively restrict methylated or unmethylated double-stranded (ds) DNA. S. pneumoniae DpnII strains possess DpnM, which methylates dsDNA to protect it from DpnII restriction, and a second methylase, DpnA, which is induced during competence for genetic transformation and is unusual in that it methylates single-stranded (ss) DNA. DpnA was tentatively ascribed the role of protecting internalized plasmids from DpnII restriction, but this seems unlikely in light of recent results establishing that pneumococcal transformation was not evolved to favor plasmid exchange. Here we validate an alternative hypothesis, showing that DpnA plays a crucial role in the protection of internalized foreign DNA, enabling exchange of pathogenicity islands and more generally of variable regions between pneumococcal isolates. We show that transformation of a 21.7 kb heterologous region is reduced by more than 4 logs in dpnA mutant cells and provide evidence that the specific induction of dpnA during competence is critical for full protection. We suggest that the integration of a restrictase/ssDNA-methylase couplet into the competence regulon maintains protection from bacteriophage attack whilst simultaneously enabling exchange of pathogenicicy islands. This protective role of DpnA is likely to be of particular importance for pneumococcal virulence by allowing free variation of capsule serotype in DpnII strains via integration of DpnI capsule loci, contributing to the documented escape of pneumococci from capsule-based vaccines. Generally, this finding is the first evidence for a

  8. Maximizing the existing potential of new foreign markets for anthracite: Executive summary

    SciTech Connect

    Ziolkowski, L.W.; Ahn, Y.K.; Hong, S.P.

    1988-09-01

    The major purposes of this report were to: (1) conduct an in-depth survey of both the technical and marketing problems in the United States Anthracite Industry (predominately in Northeastern Pennsylvania); and (2) make recommendations in areas of technical R and D needs that will enhance the United States export of anthracite to foreign markets (especially Korea). Furthermore, the report identifies various anthracite culm drying and other coal utilization concepts; recommends several anthracite utilization configurations which appear to be the most suitable to the Korean market and a sensitivity analysis on these configurations; and identifies several solutions to resolve some of the problems which were identified relative to: (a) reducing the price of exporting anthracite; (b) the producers quality control activities which relate to meeting the Korean specifications and generally improving the understanding on the contract terms that relate to the encouragement of long term commitments of anthracite by Korea. 5 figs., 11 tabs.

  9. Risk management and market efficiency on the Midwest Independent System Operator electricity exchange

    NASA Astrophysics Data System (ADS)

    Jones, Kevin

    Midwest Independent Transmission System Operator, Inc. (MISO) is a non-profit regional transmission organization (RTO) that oversees electricity production and transmission across thirteen states and one Canadian province. MISO also operates an electronic exchange for buying and selling electricity for each of its five regional hubs. MISO oversees two types of markets. The forward market, which is referred to as the day-ahead (DA) market, allows market participants to place demand bids and supply offers on electricity to be delivered at a specified hour the following day. The equilibrium price, known as the locational marginal price (LMP), is determined by MISO after receiving sale offers and purchase bids from market participants. MISO also coordinates a spot market, which is known as the real-time (RT) market. Traders in the real-time market must submit bids and offers by thirty minutes prior to the hour for which the trade will be executed. After receiving purchase and sale offers for a given hour in the real time market, MISO then determines the LMP for that particular hour. The existence of the DA and RT markets allows producers and retailers to hedge against the large fluctuations that are common in electricity prices. Hedge ratios on the MISO exchange are estimated using various techniques. No hedge ratio technique examined consistently outperforms the unhedged portfolio in terms of variance reduction. Consequently, none of the hedge ratio methods in this study meet the general interpretation of FASB guidelines for a highly effective hedge. One of the major goals of deregulation is to bring about competition and increased efficiency in electricity markets. Previous research suggests that electricity exchanges may not be weak-form market efficient. A simple moving average trading rule is found to produce statistically and economically significant profits on the MISO exchange. This could call the long-term survivability of the MISO exchange into question.

  10. Recruitment of Foreigners in the Market for Computer Scientists in the United States

    PubMed Central

    Bound, John; Braga, Breno; Golden, Joseph M.

    2016-01-01

    We present and calibrate a dynamic model that characterizes the labor market for computer scientists. In our model, firms can recruit computer scientists from recently graduated college students, from STEM workers working in other occupations or from a pool of foreign talent. Counterfactual simulations suggest that wages for computer scientists would have been 2.8–3.8% higher, and the number of Americans employed as computers scientists would have been 7.0–13.6% higher in 2004 if firms could not hire more foreigners than they could in 1994. In contrast, total CS employment would have been 3.8–9.0% lower, and consequently output smaller. PMID:27170827

  11. 76 FR 49832 - Notice of Market Assessment and Public Meeting for Digital Transportation Exchange

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-11

    ... Office of the Secretary Notice of Market Assessment and Public Meeting for Digital Transportation... investors like never before--creating a thriving marketplace for digital transportation solutions. The Digital Transportation Exchange (DTE) will be a public exchange where citizens, businesses, state...

  12. Characteristic time scales in the American dollar-Mexican peso exchange currency market

    NASA Astrophysics Data System (ADS)

    Alvarez-Ramirez, Jose

    2002-06-01

    Daily fluctuations of the American dollar-Mexican peso exchange currency market are studied using multifractal analysis methods. It is found evidence of multiaffinity of daily fluctuations in the sense that the qth-order (roughness) Hurst exponent Hq varies with changes in q. It is also found that there exist several characteristic time scales ranging from week to year. Accordingly, the market exhibits persistence in the sense that instabilities introduced by market events acting around the characteristic time scales (mainly, quarter and year) would propagate through the future market activity. Some implications of our results on the regulation of the dollar-mexpeso market activity are discussed.

  13. Effect of market factors on the short-time pricing of stock-exchange metals

    NASA Astrophysics Data System (ADS)

    Bogdanov, S. V.; Shevelev, I. M.; Chernyi, S. A.

    2016-12-01

    The open trade on the world market is estimated using information of one-day exchange prices of nonferrous and precious metals, oil, reduced crude, and gasoline and the main world stock indices in the time period from January 1, 2009 to December 31, 2015. It is found that the short-term changes in the prices of nonferrous metals are determined by the prices on the metal market. The changes in the prices of energy carriers and the stock trade on the stock market weakly influence the pricing of nonferrous and precious metals. The prices of metals depend on the situation during trade on commodity exchanges, and the stock market indirectly influences the exchange prices of metals through changes in the share prices of the companies that produce copper, aluminum, and zinc.

  14. Modeling and predicting historical volatility in exchange rate markets

    NASA Astrophysics Data System (ADS)

    Lahmiri, Salim

    2017-04-01

    Volatility modeling and forecasting of currency exchange rate is an important task in several business risk management tasks; including treasury risk management, derivatives pricing, and portfolio risk evaluation. The purpose of this study is to present a simple and effective approach for predicting historical volatility of currency exchange rate. The approach is based on a limited set of technical indicators as inputs to the artificial neural networks (ANN). To show the effectiveness of the proposed approach, it was applied to forecast US/Canada and US/Euro exchange rates volatilities. The forecasting results show that our simple approach outperformed the conventional GARCH and EGARCH with different distribution assumptions, and also the hybrid GARCH and EGARCH with ANN in terms of mean absolute error, mean of squared errors, and Theil's inequality coefficient. Because of the simplicity and effectiveness of the approach, it is promising for US currency volatility prediction tasks.

  15. Extreme-value dependence: An application to exchange rate markets

    NASA Astrophysics Data System (ADS)

    Fernandez, Viviana

    2007-04-01

    Extreme value theory (EVT) focuses on modeling the tail behavior of a loss distribution using only extreme values rather than the whole data set. For a sample of 10 countries with dirty/free float regimes, we investigate whether paired currencies exhibit a pattern of asymptotic dependence. That is, whether an extremely large appreciation or depreciation in the nominal exchange rate of one country might transmit to another. In general, after controlling for volatility clustering and inertia in returns, we do not find evidence of extreme-value dependence between paired exchange rates. However, for asymptotic-independent paired returns, we find that tail dependency of exchange rates is stronger under large appreciations than under large depreciations.

  16. Value at risk estimation with entropy-based wavelet analysis in exchange markets

    NASA Astrophysics Data System (ADS)

    He, Kaijian; Wang, Lijun; Zou, Yingchao; Lai, Kin Keung

    2014-08-01

    In recent years, exchange markets are increasingly integrated together. Fluctuations and risks across different exchange markets exhibit co-moving and complex dynamics. In this paper we propose the entropy-based multivariate wavelet based approaches to analyze the multiscale characteristic in the multidimensional domain and improve further the Value at Risk estimation reliability. Wavelet analysis has been introduced to construct the entropy-based Multiscale Portfolio Value at Risk estimation algorithm to account for the multiscale dynamic correlation. The entropy measure has been proposed as the more effective measure with the error minimization principle to select the best basis when determining the wavelet families and the decomposition level to use. The empirical studies conducted in this paper have provided positive evidence as to the superior performance of the proposed approach, using the closely related Chinese Renminbi and European Euro exchange market.

  17. 75 FR 2913 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-01-19

    ... Change The ISE is proposing to extend an incentive plan for market makers in three foreign currency... for Three Foreign Currency Options). \\5\\ See Exchange Act Release No. 34-60810 (October 9, 2009), 74... Relating to a Market Maker Incentive Plan for Foreign Currency Options). In order to promote trading...

  18. Reciprocal Exchange Patterned by Market Forces Helps Explain Cooperation in a Small-Scale Society.

    PubMed

    Jaeggi, Adrian V; Hooper, Paul L; Beheim, Bret A; Kaplan, Hillard; Gurven, Michael

    2016-08-22

    Social organisms sometimes depend on help from reciprocating partners to solve adaptive problems [1], and individual cooperation strategies should aim to offer high supply commodities at low cost to the donor in exchange for high-demand commodities with large return benefits [2, 3]. Although such market dynamics have been documented in some animals [4-7], naturalistic studies of human cooperation are often limited by focusing on single commodities [8]. We analyzed cooperation in five domains (meat sharing, produce sharing, field labor, childcare, and sick care) among 2,161 household dyads of Tsimane' horticulturalists, using Bayesian multilevel models and information-theoretic model comparison. Across domains, the best-fit models included kinship and residential proximity, exchanges in kind and across domains, measures of supply and demand and their interactions with exchange, and household-specific exchange slopes. In these best models, giving, receiving, and reciprocating were to some extent shaped by market forces, and reciprocal exchange across domains had a strong partial effect on cooperation independent of more exogenous factors like kinship and proximity. Our results support the view that reciprocal exchange can provide a reliable solution to adaptive problems [8-11]. Although individual strategies patterned by market forces may generate gains from trade in any species [3], humans' slow life history and skill-intensive foraging niche favor specialization and create interdependence [12, 13], thus stabilizing cooperation and fostering divisions of labor even in informal economies [14, 15].

  19. Improving community health through marketing exchanges: A participatory action research study on water, sanitation, and hygiene in three Melanesian countries.

    PubMed

    Barrington, D J; Sridharan, S; Saunders, S G; Souter, R T; Bartram, J; Shields, K F; Meo, S; Kearton, A; Hughes, R K

    2016-12-01

    Diseases related to poor water, sanitation and hygiene (WaSH) are major causes of mortality and morbidity. While pursuing marketing approaches to WaSH to improve health outcomes is often narrowly associated with monetary exchange, marketing theory recognises four broad marketing exchange archetypes: market-based, non-market-based, command-based and culturally determined. This diversity reflects the need for parameters broader than monetary exchange when improving WaSH. This study applied a participatory action research process to investigate how impoverished communities in Melanesian urban and peri-urban informal settlements attempt to meet their WaSH needs through marketing exchange. Exchanges of all four archetypes were present, often in combination. Motivations for participating in the marketing exchanges were based on social relationships alongside WaSH needs, health aspirations and financial circumstances. By leveraging these motivations and pre-existing, self-determined marketing exchanges, WaSH practitioners may be able to foster WaSH marketing exchanges consistent with local context and capabilities, in turn improving community physical, mental and social health.

  20. Driving factors of interactions between the exchange rate market and the commodity market: A wavelet-based complex network perspective

    NASA Astrophysics Data System (ADS)

    Wen, Shaobo; An, Haizhong; Chen, Zhihua; Liu, Xueyong

    2017-08-01

    In traditional econometrics, a time series must be in a stationary sequence. However, it usually shows time-varying fluctuations, and it remains a challenge to execute a multiscale analysis of the data and discover the topological characteristics of conduction in different scales. Wavelet analysis and complex networks in physical statistics have special advantages in solving these problems. We select the exchange rate variable from the Chinese market and the commodity price index variable from the world market as the time series of our study. We explore the driving factors behind the behavior of the two markets and their topological characteristics in three steps. First, we use the Kalman filter to find the optimal estimation of the relationship between the two markets. Second, wavelet analysis is used to extract the scales of the relationship that are driven by different frequency wavelets. Meanwhile, we search for the actual economic variables corresponding to different frequency wavelets. Finally, a complex network is used to search for the transfer characteristics of the combination of states driven by different frequency wavelets. The results show that statistical physics have a unique advantage over traditional econometrics. The Chinese market has time-varying impacts on the world market: it has greater influence when the world economy is stable and less influence in times of turmoil. The process of forming the state combination is random. Transitions between state combinations have a clustering feature. Based on these characteristics, we can effectively reduce the information burden on investors and correctly respond to the government's policy mix.

  1. 76 FR 51201 - Patient Protection and Affordable Care Act; Exchange Functions in the Individual Market...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-17

    ... From the Federal Register Online via the Government Publishing Office ] Vol. 76 Wednesday, No. 159 August 17, 2011 Part III Department of Health and Human Services 45 CFR Parts 155 and 157 Patient Protection and Affordable Care Act; Exchange Functions in the Individual Market: Eligibility...

  2. 17 CFR 240.12h-6 - Certification by a foreign private issuer regarding the termination of registration of a class of...

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Certification by a foreign... least the 12 months preceding the filing of the Form 15F on one or more exchanges in a foreign... another foreign jurisdiction, constitutes the primary trading market for those securities; and (4)(i)...

  3. 76 FR 42145 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-18

    ... International Securities Exchange, LLC (the ``Exchange'' or the ``ISE'') filed with the Securities and Exchange... ISE is proposing to extend an incentive plan for market makers in a number of foreign currency options... Exchange's Web site ( http://www.ise.com ), at the principal office of the Exchange, and at the...

  4. 77 FR 62541 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-10-15

    ... an annual basis. The Exchange proposes to change this to the ``Foreign Private Issuer Determination... compensation committee requirements to foreign private issuers that follow home country practice. The Exchange... mechanism of a free and open market and a national market system, and, in general, to protect investors...

  5. Cross-correlations between crude oil and exchange markets for selected oil rich economies

    NASA Astrophysics Data System (ADS)

    Li, Jianfeng; Lu, Xinsheng; Zhou, Ying

    2016-07-01

    Using multifractal detrended cross-correlation analysis (MF-DCCA), this paper studies the cross-correlation behavior between crude oil market and five selected exchange rate markets. The dataset covers the period of January 1,1996-December 31,2014, and contains 4,633 observations for each of the series, including daily closing prices of crude oil, Australian Dollars, Canadian Dollars, Mexican Pesos, Russian Rubles, and South African Rand. Our empirical results obtained from cross-correlation statistic and cross-correlation coefficient have confirmed the existence of cross-correlations, and the MF-DCCA results have demonstrated a strong multifractality between cross-correlated crude oil market and exchange rate markets in both short term and long term. Using rolling window analysis, we have also found the persistent cross-correlations between the exchange rates and crude oil returns, and the cross-correlation scaling exponents exhibit volatility during some time periods due to its sensitivity to sudden events.

  6. Geothermal Program Review XIV: proceedings. Keeping Geothermal Energy Competitive in Foreign and Domestic Markets

    SciTech Connect

    1996-01-01

    The U.S. Department of Energy`s Office of Geothermal Technologies conducted its annual Program Review XIV in Berkeley, April 8-10, 1996. The geothermal community came together for an in-depth review of the federally-sponsored geothermal research and development program. This year`s theme focused on ``Keeping Geothermal Energy Competitive in Foreign and Domestic Markets.`` This annual conference is designed to promote technology transfer by bringing together DOE-sponsored researchers; utility representatives; geothermal developers; equipment and service suppliers; representatives from local, state, and federal agencies; and others with an interest in geothermal energy. Program Review XIV consisted of eight sessions chaired by industry representatives. Introductory and overview remarks were presented during every session followed by detailed reports on specific DOE-funded research projects. The progress of R&D projects over the past year and plans for future activities were discussed. The government-industry partnership continues to strengthen -- its success, achievements over the past twenty years, and its future direction were highlighted throughout the conference. The comments received from the conference evaluation forms are published in this year`s proceedings. Individual papers have been processed for inclusion in the Energy Science and Technology Database.

  7. 78 FR 53509 - Self-Regulatory Organizations; BATS Exchange, Inc.; Order Approving a Proposed Rule Change, as...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-29

    ... market spot and foreign currency forward rates. Based on the Exchange's proposed amendments to the... national securities exchange, or on at least a 60-second basis with respect to indexes containing foreign... all of the period when trading is occurring on the Exchange (for example, for indexes of...

  8. Market Assessment for Residential Refrigerator-Freezer with Novel Rotating Heat Exchanger

    SciTech Connect

    Sikes, Karen; Blackburn, Julia; Grubbs, Tyler; Abdelaziz, Omar; Momen, Ayyoub

    2016-02-01

    Despite a steady record of energy efficiency improvements in residential refrigerators and freezers over recent decades, these products still account for 4% of the site energy consumption for the average U.S. household. The Oak Ridge National Laboratory (ORNL) – along with partners Sandia National Laboratories (SNL) and the University of Maryland – are pursuing further efficiency improvements in this market sector by using a novel/prototype rotating heat exchanger (RHX) based on a Sandia Cooler technology as an evaporator in a residential refrigerator-freezer. The purpose of this study is to investigate the market potential of refrigerator-freezer products equipped with RHX evaporators in the United States, including projections of maximum annual market share and unit shipments and maximum direct and indirect job creation.

  9. The DpnI/DpnII pneumococcal system, defense against foreign attack without compromising genetic exchange.

    PubMed

    Johnston, Calum; Polard, Patrice; Claverys, Jean-Pierre

    2013-07-01

    Natural genetic transformation and restriction-modification (R-M) systems play potentially antagonistic roles in bacteria. R-M systems, degrading foreign DNA to protect the cell from bacteriophage, can interfere with transformation, which relies on foreign DNA to promote genetic diversity. Here we describe how the human pathogen Streptococcus pneumoniae, which is naturally transformable, yet possesses either of two R-M systems, DpnI or DpnII, accommodates these conflicting processes. In addition to the classic restrictase and double-stranded DNA methylase, the DpnII system possesses an unusual single-stranded (ss) DNA methylase, DpnA, which is specifically induced during competence for genetic transformation. We provide further insight into our recent discovery that DpnA, which protects transforming foreign ssDNA from restriction, is crucial for acquisition of pathogenicity islands.

  10. 77 FR 41671 - Extension of Interim Final Temporary Rule on Retail Foreign Exchange Transactions

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-16

    .... FOR FURTHER INFORMATION CONTACT: Joanne Rutkowski, Branch Chief, Bonnie Gauch, Senior Special Counsel.... Kelleher, President and CEO, and Stephen W. Hall, Securities Specialist, Better Markets, Inc. to...

  11. 17 CFR 5.7 - Minimum financial requirements for retail foreign exchange dealers and futures commission...

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... forex transactions. 5.7 Section 5.7 Commodity and Securities Exchanges COMMODITY FUTURES TRADING... exchange dealers and futures commission merchants offering or engaging in retail forex transactions. (a)(1)(i) Each futures commission merchant offering or engaging in retail forex transactions and...

  12. 17 CFR 5.7 - Minimum financial requirements for retail foreign exchange dealers and futures commission...

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... forex transactions. 5.7 Section 5.7 Commodity and Securities Exchanges COMMODITY FUTURES TRADING... exchange dealers and futures commission merchants offering or engaging in retail forex transactions. (a)(1)(i) Each futures commission merchant offering or engaging in retail forex transactions and...

  13. A Weibull distribution with power-law tails that describes the first passage time processes of foreign currency exchanges

    NASA Astrophysics Data System (ADS)

    Sazuka, Naoya; Inoue, Jun-Ichi

    2007-03-01

    A Weibull distribution with power-law tails is confirmed as a good candidate to describe the first passage time process of foreign currency exchange rates. The Lorentz curve and the corresponding Gini coefficient for a Weibull distribution are derived analytically. We show that the coefficient is in good agreement with the same quantity calculated from the empirical data. We also calculate the average waiting time which is an important measure to estimate the time for customers to wait until the next price change after they login to their computer systems. By assuming that the first passage time distribution might change its shape from the Weibull to the power-law at some critical time, we evaluate the averaged waiting time by means of the renewal-reward theorem. We find that our correction of tails of the distribution makes the averaged waiting time much closer to the value obtained from empirical data analysis. We also discuss the deviation from the estimated average waiting time by deriving the waiting time distribution directly. These results make us conclude that the first passage process of the foreign currency exchange rates is well described by a Weibull distribution with power-law tails.

  14. Foreign Mission Funding in South Africa. South African Information Exchange Working Paper Number 21.

    ERIC Educational Resources Information Center

    Micou, Ann McKinstry

    This volume is an update of a 1990 report that described the guidelines of various foreign governments for internal funding programs for their missions in South Africa. Of the 18 participants, 16 were the embassies of Australia, Austria, Great Britain, Canada, Denmark, Finland, France, Germany, Greece, Israel, Italy, Japan, the Netherlands,…

  15. Strong Dollar, Weak Dollar: Foreign Exchange Rates and the U.S. Economy.

    ERIC Educational Resources Information Center

    Schilling, Tim

    Many generalizations sound simple enough--for example, "strong is good, weak is bad"--but they can be confusing when talking about money. This booklet explores how the U.S. dollar and foreign currencies affect each other and how their interaction affects the individual and the economy. The booklet contains the following sections:…

  16. 77 FR 51602 - Self-Regulatory Organizations; BATS Exchange, Inc.; Order Granting Approval of a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-24

    ... one year in the U.S. over-the-counter market, on another national securities exchange, or on a regulated foreign exchange following the consummation of the Reverse Merger and (i) in the case of a... issuers and market participants with respect to the factors considered by the Exchange in...

  17. Understanding the relational impact of the health care marketing exchange: a review of the social implications of therapeutic communicator style.

    PubMed

    Johnson, B C

    1987-09-01

    Though the benefits derived from verbal communication between practitioner and patient often are beyond the control of most health care marketers, this encounter includes nearly all of the personality and social appeals that are critical to the development of a successful and long-lasting marketing exchange. To enable marketers of health care to understand more fully the communication context in which practitioners operate, the author reviews the social implications of therapeutic communicator style.

  18. 75 FR 4891 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-01-29

    ... Immediate Effectiveness of Proposed Rule Change Regarding Market Maker Trading Licenses for Foreign Currency...'s foreign currency options. The text of the ] proposed rule change is available on the Exchange's... amend its rules regarding Foreign Currency Options (``FX Options'') \\5\\ traded on the...

  19. 77 FR 1757 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-01-11

    ... The ISE is proposing to extend an incentive plan for market makers in a number of foreign currency... Immediate Effectiveness of Proposed Rule Change Relating to a Market Maker Incentive Plan for Foreign Currency Options January 5, 2012. Pursuant to Section 19(b)(1) of the Securities Exchange Act of...

  20. 76 FR 20431 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-04-12

    ... The ISE is proposing to extend an incentive plan for market makers in a number of foreign currency... Immediate Effectiveness of Proposed Rule Change Relating to a Market Maker Incentive Plan for Foreign Currency Options April 6, 2011. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934...

  1. 75 FR 18565 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-04-12

    ... Change The ISE is proposing to extend an incentive plan for market makers in four foreign currency... Immediate Effectiveness of Proposed Rule Change Relating to a Market Maker Incentive Plan for Foreign Currency Options April 6, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934...

  2. 75 FR 62900 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-10-13

    ... an incentive plan for market makers in four foreign currency options (``FX Options''). The text of... Immediate Effectiveness of Proposed Rule Change Relating to a Market Maker Incentive Plan for Foreign Currency Options October 5, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange Act of...

  3. 76 FR 1488 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-01-10

    ... proposing to extend an incentive plan for market makers in four foreign currency options (``FX Options... Immediate Effectiveness of Proposed Rule Change Relating to a Market Maker Incentive Plan for Foreign Currency Options January 4, 2011. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934...

  4. 76 FR 12778 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-03-08

    ... The ISE is proposing to amend its incentive plan for market makers in foreign currency (``FX... Immediate Effectiveness of Proposed Rule Change Relating to a Market Maker Incentive Plan for Foreign Currency Options March 2, 2011. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934...

  5. 17 CFR 5.7 - Minimum financial requirements for retail foreign exchange dealers and futures commission...

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... or rates of exchange. (ii) Current assets must exclude any retail forex account which liquidates to a...) Current assets must exclude any unsecured receivable accrued from any over-the-counter transaction in... of this section: (1) Where the applicant or registrant has an asset or liability which is defined...

  6. Foreign Personnel Exchange Programs: A Supporting Effort in Building Partnership Capacity

    DTIC Science & Technology

    2008-01-01

    New Zealand Defence Force Relating to the Conduct ofExercise Long Look, (obtained from Daryl J. Cambell , 16 January, 2008). 45. U.S. Department...Daryl J. Cambell , 16 January, 2008). Commandant of the Marine Corps. 1STHALF CY 2008 A VIATION PERSONNEL EXCHANGE PROGRAM (PEP) AND lINTER-SERVICE

  7. Price dynamics and market power in an agent-based power exchange

    NASA Astrophysics Data System (ADS)

    Cincotti, Silvano; Guerci, Eric; Raberto, Marco

    2005-05-01

    This paper presents an agent-based model of a power exchange. Supply of electric power is provided by competing generating companies, whereas demand is assumed to be inelastic with respect to price and is constant over time. The transmission network topology is assumed to be a fully connected graph and no transmission constraints are taken into account. The price formation process follows a common scheme for real power exchanges: a clearing house mechanism with uniform price, i.e., with price set equal across all matched buyer-seller pairs. A single class of generating companies is considered, characterized by linear cost function for each technology. Generating companies compete for the sale of electricity through repeated rounds of the uniform auction and determine their supply functions according to production costs. However, an individual reinforcement learning algorithm characterizes generating companies behaviors in order to attain the expected maximum possible profit in each auction round. The paper investigates how the market competitive equilibrium is affected by market microstructure and production costs.

  8. Multifractal detrended Cross Correlation Analysis of Foreign Exchange and SENSEX fluctuation in Indian perspective

    NASA Astrophysics Data System (ADS)

    Dutta, Srimonti; Ghosh, Dipak; Chatterjee, Sucharita

    2016-12-01

    The manuscript studies autocorrelation and cross correlation of SENSEX fluctuations and Forex Exchange Rate in respect to Indian scenario. Multifractal detrended fluctuation analysis (MFDFA) and multifractal detrended cross correlation analysis (MFDXA) were employed to study the correlation between the two series. It was observed that the two series are strongly cross correlated. The change of degree of cross correlation with time was studied and the results are interpreted qualitatively.

  9. Study of a market model with conservative exchanges on complex networks

    NASA Astrophysics Data System (ADS)

    Braunstein, Lidia A.; Macri, Pablo A.; Iglesias, J. R.

    2013-04-01

    Many models of market dynamics make use of the idea of conservative wealth exchanges among economic agents. A few years ago an exchange model using extremal dynamics was developed and a very interesting result was obtained: a self-generated minimum wealth or poverty line. On the other hand, the wealth distribution exhibited an exponential shape as a function of the square of the wealth. These results have been obtained both considering exchanges between nearest neighbors or in a mean field scheme. In the present paper we study the effect of distributing the agents on a complex network. We have considered archetypical complex networks: Erdös-Rényi random networks and scale-free networks. The presence of a poverty line with finite wealth is preserved but spatial correlations are important, particularly between the degree of the node and the wealth. We present a detailed study of the correlations, as well as the changes in the Gini coefficient, that measures the inequality, as a function of the type and average degree of the considered networks.

  10. Evidence of fueling of the 2000 new economy bubble by foreign capital inflow: implications for the future of the US economy and its stock market

    NASA Astrophysics Data System (ADS)

    Sornette, Didier; Zhou, Wei-Xing

    2004-02-01

    Previous analyses of a large ensemble of stock markets have demonstrated that a log-periodic power law (LPPL) behavior of the prices constitutes a qualifying signature of speculative bubbles that often land with a crash. We detect such a LPPL signature in the foreign capital inflow during the bubble on the US markets culminating in March 2000. We detect a weak synchronization and lag with the NASDAQ LPPL pattern. We propose to rationalize these observations by the existence of positive feedback loops between market-appreciation/increased-spending/increased-deficit-of-balance-of-payment/larger-foreign-surplus/increased-foreign-capital-inflows and so on. Our analysis suggests that foreign capital inflow has been following rather than causing the bubble. We then combine a macroeconomic analysis of feedback processes occurring between the economy and the stock market with a technical analysis of more than 200 years of the DJIA to investigate possible scenarios for the future, three years after the end of the bubble and deep into a bearish regime. We conclude that the low interest rates and depreciating dollar are the indispensable ingredients for a lower sustainable burden of the global US debt structure and for allowing the slow rebuilding of an internationally competitive economy. This will probably be accompanied by a weak stock market on the medium term as the growing Federal deficit is consuming a large part of the foreign surplus dollars and the stock market is remaining a very risky and unattractive investment. Notwithstanding strong surge of liquidity in recent months orchestrated by the Federal Reserve, this macroeconomic analysis which incorporates an element of collective behavior is in line with our recent analyses of the bearish market that started in 2000 in terms of a LPPL “anti-bubble”. We project this LPPL anti-bubble to continue at least for another year. On the short term, increased availability of liquidity (M1) and self-fulfilling bullish

  11. Frequency analysis of tick quotes on foreign currency markets and the double-threshold agent model

    NASA Astrophysics Data System (ADS)

    Sato, Aki-Hiro

    2006-09-01

    Power spectrum densities for the number of tick quotes per minute (market activity) on three currency markets (USD/JPY, EUR/USD, and JPY/EUR) are analyzed for periods from January 2000 to December 2000. We find some peaks on the power spectrum densities at a few minutes. We develop the double-threshold agent model and confirm that the corresponding periodicity can be observed for the activity of this model even though market participants perceive common weaker periodic information than threshold for decision-making of them. This model is numerically performed and theoretically investigated by utilizing the mean-field approximation. We propose a hypothesis that the periodicities found on the power spectrum densities can be observed due to nonlinearity and diversity of market participants.

  12. Product technology and market assessment for silicon carbide whisker reinforced alumina heat-exchanger tubes. Final report

    SciTech Connect

    Loutfy, R.O.; Withers, J.C.; Chakravarti, D.

    1993-10-01

    This report describes a study designed to develop an assessment of key performance features, desirable technical specifications and market potential for silicon carbide whisker-reinforced alumina (henceforth SCWRA) tubes for heat exchanger applications in a number of industries. The results of the first stage of a Delphi study conducted in the US market are presented. The second phase of the study is in progress. The first stage results suggest that there is a small market for SCWRA tubes in heat exchanger applications. The market is expected to grow steadily during the 1990`s. With appropriate performance specifications and competitive pricing, growth should come from (a) new applications that permit recovery in cases that were previously infeasible and (b) selective, partial substitution and replacement of current ceramics and metal/ceramic composites in existing applications. We identify key performance factors and detailed specifications needed in six designated industries (primary metals, fabricated metals, chemicals, glass, utility and incinerators). Reliability, durability and low maintenance costs emerge as critical performance factors across these industries. The data show that although ceramics are recognized as having better properties, enhancing reliability and durability and thus improving maintenance cost performance is a key priority. Such improvements, reflected in the objectives for SCWRA tubes, should facilitate adoption in both new and existing applications. At this time, we are unable to assess market size directly. However, expert judgment provided indices tracking the projected market for heat exchanger tubes from 1990 to 2005.

  13. Using biological markets principles to examine patterns of grooming exchange in Macaca thibetana.

    PubMed

    Balasubramaniam, K N; Berman, C M; Ogawa, H; Li, J

    2011-12-01

    Biological markets principles offer testable hypotheses to explain variation in grooming exchange patterns among nonhuman primates. They predict that when within-group contest competition (WGC) is high and dominance hierarchies steep, grooming interchange with other "commodity" behaviors (such as agonistic support) should prevail. In contrast, when WGC is low and gradients shallow, market theory predicts that grooming reciprocity should prevail. We tested these predictions in a wild, provisioned Tibetan macaque (Macaca thibetana) group across six time periods during which the group had been subjected to varying degrees of range restriction. Data on female-female aggression, grooming, and support were collected using all-occurrences and focal animal sampling techniques, and analyzed using ANCOVA methods and correlation analyses. We found that hierarchical steepness varied significantly across periods, but did not correlate with two indirect indicators of WGC (group size and range restriction) in predicted directions. Contrary to expectations, we found a negative correlation between steepness and group size, perhaps because the responses of group members to external risks (i.e. prolonged and unavoidable exposure to humans) may have overshadowed the effects of WGC. As predicted, grooming reciprocity was significant in each period and negatively correlated with steepness, even after we controlled group size, kinship, rank differences, and proximity. In contrast, there was no evidence for grooming interchange with agonistic support or for a positive relationship between interchange and steepness. We hypothesize that stressful conditions and/or the presence of stable hierarchies during each period may have led to a greater market demand for grooming than support. We suggest that future studies testing these predictions consider more direct measures of WGC and commodities in addition to support, such as feeding tolerance and access to infants.

  14. 78 FR 11921 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing of...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-20

    ... to price. Providing these more refined increments will permit the Exchange's market makers the... previously approved a proposal by NASDAQ OMX PHLX, Inc. permitting that exchange to also trade its foreign... underlying security. With regard to the impact of this proposal on system capacity, the Exchange...

  15. Time interval between successive trading in foreign currency market: from microscopic to macroscopic

    NASA Astrophysics Data System (ADS)

    Sato, Aki-Hiro

    2004-12-01

    Recently, it has been shown that inter-transaction interval (ITI) distribution of foreign currency rates has a fat tail. In order to understand the statistical property of the ITI dealer model with N interactive agents is proposed. From numerical simulations it is confirmed that the ITI distribution of the dealer model has a power law tail. The random multiplicative process (RMP) can be approximately derived from the ITI of the dealer model. Consequently, we conclude that the power law tail of the ITI distribution of the dealer model is a result of the RMP.

  16. Fractional Market Model and its Verification on the Warsaw STOCK Exchange

    NASA Astrophysics Data System (ADS)

    Kozłowska, Marzena; Kasprzak, Andrzej; Kutner, Ryszard

    We analyzed the rising and relaxation of the cusp-like local peaks superposed with oscillations which were well defined by the Warsaw Stock Exchange index WIG in a daily time horizon. We found that the falling paths of all index peaks were described by a generalized exponential function or the Mittag-Leffler (ML) one superposed with various types of oscillations. However, the rising paths (except the first one of WIG which rises exponentially and the most important last one which rises again according to the ML function) can be better described by bullish anti-bubbles or inverted bubbles.2-4 The ML function superposed with oscillations is a solution of the nonhomogeneous fractional relaxation equation which defines here our Fractional Market Model (FMM) of index dynamics which can be also called the Rheological Model of Market. This solution is a generalized analog of an exactly solvable fractional version of the Standard or Zener Solid Model of viscoelastic materials commonly used in modern rheology.5 For example, we found that the falling paths of the index can be considered to be a system in the intermediate state lying between two complex ones, defined by short and long-time limits of the Mittag-Leffler function; these limits are given by the Kohlrausch-Williams-Watts (KWW) law for the initial times, and the power-law or the Nutting law for asymptotic time. Some rising paths (i.e., the bullish anti-bubbles) are a kind of log-periodic oscillations of the market in the bullish state initiated by a crash. The peaks of the index can be viewed as precritical or precrash ones since: (i) the financial market changes its state too early from the bullish to bearish one before it reaches a scaling region (defined by the diverging power-law of return per unit time), and (ii) they are affected by a finite size effect. These features could be a reminiscence of a significant risk aversion of the investors and their finite number, respectively. However, this means that the

  17. Debtor States and the World Market: Explaining Mexican and Brazilian Foreign Economic Policy.

    ERIC Educational Resources Information Center

    Gayle, Dennis John

    The ways in which world market instabilities affect indebted developing countries and explanations of their differential policy responses are the central issues addressed in this paper. The development of Brazil and Mexico is examined as examples of middle-income developing nations whose economies have assumed dependent development. Dependent…

  18. Data analysis unveils a new stylized fact in foreign currency markets

    NASA Astrophysics Data System (ADS)

    Nacher, J. C.; Ochiai, T.

    2012-09-01

    The search for stylized facts (i.e., simplified empirical facts) is of capital importance in econophysics because the stylized facts constitute the experimental empirical body on which theories and models should be tested. At the moment they are too few and this is an important limitation to the progress in the field. In this work, we unveil a new stylized fact, which consists of resistance effect and breaking-acceleration effect that implicitly requires a long memory feature in price movement. By analyzing a vast amount of historical data, we demonstrate that the financial market tends to exceed a past (historical) extreme price less often than expected by a classic short-memory model (e.g., Black-Scholes model). We call it resistance effect. However, when the market does it, we predict that the average volatility at that time point will be much higher (accelerates more). It means, in average, volatility accelerates more when the price breaks the highest (lowest) value. We refer to this as breaking-acceleration effect. These observed empirical facts are actually an effect which may arise from technical trading and psychological effects. Taken together, these results indicate that, beyond the predictive capability of this unveiled stylized fact, traditional short-memory models do not faithfully capture the market dynamics.

  19. EXCHANGE

    SciTech Connect

    Boltz, J.C.

    1992-09-01

    EXCHANGE is published monthly by the Idaho National Engineering Laboratory (INEL), a multidisciplinary facility operated for the US Department of Energy (DOE). The purpose of EXCHANGE is to inform computer users about about recent changes and innovations in both the mainframe and personal computer environments and how these changes can affect work being performed at DOE facilities.

  20. International Education, Foreign Exchange and Scholarships. Hearing before the Subcommittee on Postsecondary Education of the Committee on Education and Labor. House of Representatives, Ninety-Eighth Congress, First Session.

    ERIC Educational Resources Information Center

    Congress of the U.S., Washington, DC. House Committee on Education and Labor.

    Hearings on international student exchanges are presented. Information is presented on the countries of origin of foreign students in the United States and the fields they tend to study. It is noted that only 2.2 percent of foreign students studying in the United States are provided scholarships by the U.S. Government; the vast majority are…

  1. A Proposal for Establishing a Free Market Basis for Plant Genome Information Exchange

    SciTech Connect

    Slezak, T.

    2001-09-26

    The current situation of genomics information exchange is reminiscent of some Third World cities, where residents despair they will ever get official utility service and therefore tap into power, phone, and gas sources with makeshift connections. Thus, each genomics grant spawns yet another idiosyncratic Web site, with makeshift links to whatever random Web sites the PI is most familiar with. There are few standards for semantics of data, and fewer standards for automating the interchange or integration of these autonomous Web sites. The US Plant Genome Initiative (PGI) has been enthusiastic contributor to this proliferation of chaotic Web sites, but to its credit it appears to be the first major program to attempt to find a solution. Some of us from the earliest days of the Human Genome Program have been acutely aware of the problems of genomic data integration, since long before the Web appeared and made the problem exponentially harder to resolve. We have seen large scale attempts, and subsequent failures or inadequacies, of many potential solution approaches (i.e., database federation, classical data warehousing, centralized data, etc.) and believe we know at least some of the reasons they still remain inadequate. It is our opinion that the only solution that has a chance of succeeding is one that considers the overall economics of genomics data production, sharing, and integration. We believe that attempting to create a kind of Free Market for data created under the Plant Genome Initiative will represent the most practical, powerful, and cost-effective approach to dealing with the broad range of plant genome information that has been unleashed.

  2. 31 CFR 1022.410 - Additional records to be made and retained by dealers in foreign exchange.

    Code of Federal Regulations, 2014 CFR

    2014-07-01

    ... public funds opened by agencies and instrumentalities of Federal, state, local or foreign governments... their immediate families, (iii) Accounts for aliens who are accredited representatives to international organizations which are entitled to enjoy privileges, exemptions, and immunities as an...

  3. 31 CFR 1022.410 - Additional records to be made and retained by dealers in foreign exchange.

    Code of Federal Regulations, 2012 CFR

    2012-07-01

    ... public funds opened by agencies and instrumentalities of Federal, state, local or foreign governments... their immediate families, (iii) Accounts for aliens who are accredited representatives to international organizations which are entitled to enjoy privileges, exemptions, and immunities as an...

  4. EXCHANGE

    SciTech Connect

    Boltz, J.C.

    1993-03-01

    This report discusses the following topics on computer environments: Releasing computer software outside EG G Idaho; Ilford digital photo imager; mandatory upgrade of PC ORPS software; ORPS host computer upgrade; EROB computer users see network change; password expiration notice; big iron still has place in HPC market; handy scripts to copy and move files; more on workstation password expiration; training center course schedule for April 1993; Microsoft Word Version 5.1a- button bar; file attributes can provide you greater flexibility; constructing a personal WordPerfect dictionary; and Windows shortcuts.

  5. Evaluation of Foreign Investment in Power Plants using Real Options

    NASA Astrophysics Data System (ADS)

    Kato, Moritoshi; Zhou, Yicheng

    This paper proposes new methods for evaluating foreign investment in power plants under market uncertainty using a real options approach. We suppose a thermal power plant project in a deregulated electricity market. One of our proposed methods is that we calculate the cash flow generated by the project in a reference year using actual market data to incorporate periodic characteristics of energy prices into a yearly cash flow model. We make the stochastic yearly cash flow model with the initial value which is the cash flow in the reference year, and certain trend and volatility. Then we calculate the real options value (ROV) of the project which has abandonment options using the yearly cash flow model. Another our proposed method is that we evaluate foreign currency/domestic currency exchange rate risk by representing ROV in foreign currency as yearly pay off and exchanging it to ROV in domestic currency using a stochastic exchange rate model. We analyze the effect of the heat rate and operation and maintenance costs of the power plant on ROV, and evaluate exchange rate risk through numerical examples. Our proposed method will be useful for the risk management of foreign investment in power plants.

  6. Cooperative Autonomy in Online Lingua Franca Exchanges: A Case Study on Foreign Language Education in Secondary Schools

    ERIC Educational Resources Information Center

    Hoffstaedter, Petra; Kohn, Kurt

    2016-01-01

    We report on a case study on pedagogical affordances of intercultural telecollaboration for authentic communication practice and competence development in the local foreign language. Focus is on spoken and written conversations involving pairs of secondary school pupils of different linguacultural backgrounds. Particular attention is given to…

  7. 31 CFR 1022.410 - Additional records to be made and retained by dealers in foreign exchange.

    Code of Federal Regulations, 2013 CFR

    2013-07-01

    ..., or (B) Naval, military or other attaches of foreign embassies, and legations, and for members of their immediate families, (iii) Accounts for aliens who are accredited representatives to international... the members of their immediate families, (iv) Aliens temporarily residing in the United States for...

  8. Patient Protection and Affordable Care Act; exchange and insurance market standards for 2015 and beyond. Final rule.

    PubMed

    2014-05-27

    This final rule addresses various requirements applicable to health insurance issuers, Affordable Insurance Exchanges (``Exchanges''), Navigators, non-Navigator assistance personnel, and other entities under the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 (collectively referred to as the Affordable Care Act). Specifically, the rule establishes standards related to product discontinuation and renewal, quality reporting, non-discrimination standards, minimum certification standards and responsibilities of qualified health plan (QHP) issuers, the Small Business Health Options Program, and enforcement remedies in Federally-facilitated Exchanges. It also finalizes: A modification of HHS's allocation of reinsurance collections if those collections do not meet our projections; certain changes to allowable administrative expenses in the risk corridors calculation; modifications to the way we calculate the annual limit on cost sharing so that we round this parameter down to the nearest $50 increment; an approach to index the required contribution used to determine eligibility for an exemption from the shared responsibility payment under section 5000A of the Internal Revenue Code; grounds for imposing civil money penalties on persons who provide false or fraudulent information to the Exchange and on persons who improperly use or disclose information; updated standards for the consumer assistance programs; standards related to the opt-out provisions for self-funded, non-Federal governmental plans and related to the individual market provisions under the Health Insurance Portability and Accountability Act of 1996 including excepted benefits; standards regarding how enrollees may request access to non-formulary drugs under exigent circumstances; amendments to Exchange appeals standards and coverage enrollment and termination standards; and time-limited adjustments to the standards relating to the medical loss ratio

  9. Forecasting of foreign exchange rates of Taiwan’s major trading partners by novel nonlinear Grey Bernoulli model NGBM(1, 1)

    NASA Astrophysics Data System (ADS)

    Chen, Chun-I.; Chen, Hong Long; Chen, Shuo-Pei

    2008-08-01

    The traditional Grey Model is easy to understand and simple to calculate, with satisfactory accuracy, but it is also lack of flexibility to adjust the model to acquire higher forecasting precision. This research studies feasibility and effectiveness of a novel Grey model together with the concept of the Bernoulli differential equation in ordinary differential equation. In this research, the author names this newly proposed model as Nonlinear Grey Bernoulli Model (NGBM). The NGBM is nonlinear differential equation with power index n. By controlling n, the curvature of the solution curve could be adjusted to fit the result of one time accumulated generating operation (1-AGO) of raw data. One extreme case from Grey system textbook is studied by NGBM, and two published articles are chosen for practical tests of NGBM. The results prove the novel NGBM is feasible and efficient. Finally, NGBM is used to forecast 2005 foreign exchange rates of twelve Taiwan major trading partners, including Taiwan.

  10. 17 CFR 5.5 - Distribution of “Risk Disclosure Statement” by retail foreign exchange dealers, futures...

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... brokers regarding retail forex transactions. 5.5 Section 5.5 Commodity and Securities Exchanges COMMODITY... brokers regarding retail forex transactions. (a) Except as provided in § 5.23 of this part, no retail... introducing broker, may open an account that will engage in retail forex transactions for a retail...

  11. 17 CFR 5.13 - Reporting to customers of retail foreign exchange dealers and futures commission merchants...

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... exchange dealer or futures commission merchant must promptly furnish in writing to each retail forex... once every three months, a statement which clearly shows: (1) For each retail forex customer: (i) The open retail forex transactions with prices at which acquired; (ii) The net unrealized profits or...

  12. 17 CFR 5.13 - Reporting to customers of retail foreign exchange dealers and futures commission merchants...

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... exchange dealer or futures commission merchant must promptly furnish in writing to each retail forex... once every three months, a statement which clearly shows: (1) For each retail forex customer: (i) The open retail forex transactions with prices at which acquired; (ii) The net unrealized profits or...

  13. 17 CFR 5.5 - Distribution of “Risk Disclosure Statement” by retail foreign exchange dealers, futures...

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... brokers regarding retail forex transactions. 5.5 Section 5.5 Commodity and Securities Exchanges COMMODITY... brokers regarding retail forex transactions. (a) Except as provided in § 5.23 of this part, no retail... introducing broker, may open an account that will engage in retail forex transactions for a retail...

  14. 17 CFR 5.13 - Reporting to customers of retail foreign exchange dealers and futures commission merchants...

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... exchange dealer or futures commission merchant must promptly furnish in writing to each retail forex... once every three months, a statement which clearly shows: (1) For each retail forex customer: (i) The open retail forex transactions with prices at which acquired; (ii) The net unrealized profits or...

  15. 17 CFR 5.5 - Distribution of “Risk Disclosure Statement” by retail foreign exchange dealers, futures...

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... brokers regarding retail forex transactions. 5.5 Section 5.5 Commodity and Securities Exchanges COMMODITY... brokers regarding retail forex transactions. (a) Except as provided in § 5.23 of this part, no retail... introducing broker, may open an account that will engage in retail forex transactions for a retail...

  16. 17 CFR 5.5 - Distribution of “Risk Disclosure Statement” by retail foreign exchange dealers, futures...

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... brokers regarding retail forex transactions. 5.5 Section 5.5 Commodity and Securities Exchanges COMMODITY... brokers regarding retail forex transactions. (a) Except as provided in § 5.23 of this part, no retail... introducing broker, may open an account that will engage in retail forex transactions for a retail...

  17. 17 CFR 5.13 - Reporting to customers of retail foreign exchange dealers and futures commission merchants...

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... exchange dealer or futures commission merchant must promptly furnish in writing to each retail forex... once every three months, a statement which clearly shows: (1) For each retail forex customer: (i) The open retail forex transactions with prices at which acquired; (ii) The net unrealized profits or...

  18. Communicative Competences and the Use of ICT for Foreign Language Learning within the European Student Exchange Programme ERASMUS

    ERIC Educational Resources Information Center

    Gomez, Jose Ignacio Aguaded; Vicente, Cristina Pozo

    2011-01-01

    This article presents the results from a mainly statistical and comparative analysis regarding the communicative competences and the use of information and communication technologies (ICTs) of German exchange students. The data was extracted from two exhaustive, rigorous and methodical questionnaires related to communicative and ICT competences,…

  19. Marketing.

    PubMed

    Chambers, David W

    2010-01-01

    There is not enough marketing of dentistry; but there certainly is too much selling of poor quality service that is being passed off as dentistry. The marketing concept makes the patient and the patients' needs the ultimate criteria of marketing efforts. Myths and good practices for effective marketing that will promote oral health are described under the traditional four "Ps" categories of "product" (best dental care), "place" (availability), "promotion" (advertising and other forms of making patients aware of available services and how to use them), and "price" (the total cost to patients of receiving care).

  20. [The young people of foreign extraction in the Federal Republic of Germany and the labor market in 2000].

    PubMed

    Von Delhaes-guenther, D

    1988-03-01

    This study analyzes immigration trends and prospects with respect with to the Federal Republic's changing demography and economy. Low birth rates and an aging population will result in a decrease in the local population and an increase in the foreign population of the Federal Republic in the next decades. After 1990 the demand for foreign labor will diminish. There will, however, still be a need for highly specialized personnel for the new technological sectors. In this context the professional qualification of young people of foreign extraction acquires an even greater significance, since they also face difficulties at a cultural and linguistic level. The technological challenges demand scholastic and professional training programs which maximize migrant labor force potential and help to eliminate socioeconomic conflicts. By the year 2000 60% of the jobs in the Federal Republic will be in service-related industries and the "third industrial revolution" based on innovations in microelectronics will demand a trained labor force that can easily shift and adapt. Local and national institutions will have to form a trained and competent labor force. However, foreign young people educated in German public schools face difficulties in achieving professional certificates and gaining superior employment. The potential exists for ever greater problems as minimum skill jobs diminish and higher-skilled jobs increase in the changing German economy. Language barriers and lack of sufficient skills prevent the complete integration of foreign young people and can lead to frustration, mental depression, and even criminal behavior. The author proposes closer contacts between parents of foreign youths and local and Federal authorities and better bilingual education.

  1. Spatial Analysis of Market Economy Innovations in the Former Soviet Union: The Case of Commodity Exchanges

    DTIC Science & Technology

    1992-10-06

    iron and steel. The later economic shift from coal and steel to oil and natural gas has left the region’s steel mills totally environmentally ...thuc have performed best in adopting market economy initiativps- Moscow, the Baltics, oil-producing western Siberian cities, and oil and natural gas...these provinces are rich in natural resources that remain to be developed. The third quartile (Figure 3) provides two patterns of note. First, all of the

  2. 7 CFR 51.2123 - Foreign material.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 2 2014-01-01 2014-01-01 false Foreign material. 51.2123 Section 51.2123 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign material. Foreign material means pieces of shell, hulls or other foreign matter which will...

  3. 7 CFR 51.2123 - Foreign material.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 2 2013-01-01 2013-01-01 false Foreign material. 51.2123 Section 51.2123 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign material. Foreign material means pieces of shell, hulls or other foreign matter which will...

  4. Future sustainability forecasting by exchange markets: basic theory and an application.

    PubMed

    Malyshkina, Nataliya; Niemeier, Deb

    2010-12-01

    Setting sustainability targets and evaluating systems progress are of great importance nowadays due to threats to the human society, to economic development and to ecosystems, posed by unsustainable human activities. This research establishes a probabilistic theoretical approach based on market expectations reflected in prices of publicly traded securities to estimate the time horizon until the appearance of new technologies related to replacement of nonrenewable resources, for example, crude oil and oil products. To assess time T when technological innovations are likely to appear, we apply advanced pricing equations, based on a stochastic discount factor to those traded securities whose future cash flows critically depend on appearance of such innovations. In a simple approximation of the proposed approach applied to replacement of crude oil and oil products, we obtain T ≈ (P(0)(oil)/C(0))·ln (Δ·P(0)(oil)/P(0)(alt)), where P(0)(oil) and P(0)(alt) are the current aggregate market capitalizations of oil and alternative-energy companies, C(0) is the annual aggregate dividends that oil companies pay to their shareholders at the present, and Δ is the fraction of the oil (oil products) replaced at time T. This formula gives T ≈ 131 years for replacement of gasoline and diesel. The proposed market-expectations approach may allow policymakers to effectively develop policies and plan for long-term changes.

  5. Dynamical Decomposition of Multifractal Time Series as Fractal Evolution and Long-Term Cycles: Applications to Foreign Currency Exchange Market

    NASA Astrophysics Data System (ADS)

    Turiel, A.; Perez-Vicente, C.

    The application of the multifractal formalism to the study of some time series with scale invariant evolution has given rise to a rich framework of models and processing tools for the analysis of these signals. The formalism has been successfully exploited in different ways and with different goals: to obtain the effective variables governing the evolution of the series, to predict its future evolution, to estimate in which regime the series are, etc. In this paper, we discuss on the capabilities of a new, powerful processing tool, namely the computation of dynamical sources. With the aid of the source field, we will separate the fast, chaotic dynamics defined by the multifractal structure from a new, so-far unknown slow dynamics which concerns long cycles in the series. We discuss the results on the perspective of detection of sharp dynamic changes and forecasting.

  6. Marketing.

    ERIC Educational Resources Information Center

    Appel, David L.

    This booklet suggests ways in which institutions--Catholic schools in particular--can move beyond public relations and advertising to engage in the broader arena of marketing with its focus on consumer satisfaction. The first of the book's three chapters reviews the concept of marketing, providing definitions of key terms, clarification of…

  7. Marketing.

    ERIC Educational Resources Information Center

    Maust, Robert N.

    1985-01-01

    Although college administrators may be committed to the concept and need for institutional marketing, even a well-developed marketing plan may not work if it is not clearly organized to address special needs. This article reviews management fads, how to make jargon operational, organizational dynamics, and monitoring fads. (MSE)

  8. Soccer and stock market risk: empirical evidence from the Istanbul Stock Exchange.

    PubMed

    Berument, M Hakan; Ceylan, Nildag Basak

    2013-06-01

    There is an emerging but important literature on the effects of sport events such as soccer on stock market returns. After a soccer team's win, agents discount future events more favorably and increase risk tolerance. Similarly, after a loss, risk tolerance decreases. This paper directly assesses risk tolerance after a sports event by using daily data from the three major soccer teams in Turkey (Beşiktaşç Fenerbahge and Galatasaray). Results provide evidence that risk tolerance increases after a win, but similar patterns were not found after a loss.

  9. The relationships between Shanghai stock market and CNY/USD exchange rate: New evidence based on cross-correlation analysis, structural cointegration and nonlinear causality test

    NASA Astrophysics Data System (ADS)

    Liu, Li; Wan, Jieqiu

    2012-12-01

    This paper explores the co-movement of Shanghai stock market and China Yuan (CNY) exchange rates. First, we find that stock price and exchange rate are significantly cross-correlated. Second, employing a cointegration test allowing for a structural break, we find that the Shanghai Composite Index (SCI) is not cointegrated with the exchange rate of CNY/USD. The so-called “cointegration” found in previous studies is just caused by the shock of the recent financial crisis. Third, using linear and nonlinear Granger causality tests, we find no causality between stock prices and exchange rates during the period before the recent financial crisis. After the financial crisis, a unidirectional causality behavior running from exchange rates to stock index is present.

  10. Characteristic time scales of tick quotes on foreign currency markets: an empirical study and agent-based model

    NASA Astrophysics Data System (ADS)

    Sato, A.-H.

    2006-03-01

    Power spectrum densities for the number of tick quotes per minute (market activity) on three currency markets (USD/JPY, EUR/USD, and JPY/EUR) for periods from January 1999 to December 2000 are analyzed. We find some peaks on the power spectrum densities at a few minutes. We develop the double-threshold agent model and confirm that stochastic resonance occurs for the market activity of this model. We propose a hypothesis that the periodicities found on the power spectrum densities can be observed due to stochastic resonance.

  11. Investigation of market efficiency and Financial Stability between S&P 500 and London Stock Exchange: Monthly and yearly Forecasting of Time Series Stock Returns using ARMA model

    NASA Astrophysics Data System (ADS)

    Rounaghi, Mohammad Mahdi; Nassir Zadeh, Farzaneh

    2016-08-01

    We investigated the presence and changes in, long memory features in the returns and volatility dynamics of S&P 500 and London Stock Exchange using ARMA model. Recently, multifractal analysis has been evolved as an important way to explain the complexity of financial markets which can hardly be described by linear methods of efficient market theory. In financial markets, the weak form of the efficient market hypothesis implies that price returns are serially uncorrelated sequences. In other words, prices should follow a random walk behavior. The random walk hypothesis is evaluated against alternatives accommodating either unifractality or multifractality. Several studies find that the return volatility of stocks tends to exhibit long-range dependence, heavy tails, and clustering. Because stochastic processes with self-similarity possess long-range dependence and heavy tails, it has been suggested that self-similar processes be employed to capture these characteristics in return volatility modeling. The present study applies monthly and yearly forecasting of Time Series Stock Returns in S&P 500 and London Stock Exchange using ARMA model. The statistical analysis of S&P 500 shows that the ARMA model for S&P 500 outperforms the London stock exchange and it is capable for predicting medium or long horizons using real known values. The statistical analysis in London Stock Exchange shows that the ARMA model for monthly stock returns outperforms the yearly. ​A comparison between S&P 500 and London Stock Exchange shows that both markets are efficient and have Financial Stability during periods of boom and bust.

  12. Epidemic model for information diffusion in web forums: experiments in marketing exchange and political dialog.

    PubMed

    Woo, Jiyoung; Chen, Hsinchun

    2016-01-01

    As social media has become more prevalent, its influence on business, politics, and society has become significant. Due to easy access and interaction between large numbers of users, information diffuses in an epidemic style on the web. Understanding the mechanisms of information diffusion through these new publication methods is important for political and marketing purposes. Among social media, web forums, where people in online communities disseminate and receive information, provide a good environment for examining information diffusion. In this paper, we model topic diffusion in web forums using the epidemiology model, the susceptible-infected-recovered (SIR) model, frequently used in previous research to analyze both disease outbreaks and knowledge diffusion. The model was evaluated on a large longitudinal dataset from the web forum of a major retail company and from a general political discussion forum. The fitting results showed that the SIR model is a plausible model to describe the diffusion process of a topic. This research shows that epidemic models can expand their application areas to topic discussion on the web, particularly social media such as web forums.

  13. Toward a formalization of a two traders market with information exchange

    NASA Astrophysics Data System (ADS)

    Bagarello, F.; Haven, E.

    2015-01-01

    This paper shows that Hamiltonians and operators can also be put to good use even in contexts which are not purely physics based. Consider the world of finance. The work presented here models a two traders system with information exchange with the help of four fundamental operators: cash and share operators, a portfolio operator, and an operator reflecting the loss of information. An information Hamiltonian is considered and an additional Hamiltonian is presented which reflects the dynamics of selling/buying shares between traders. An important result of the paper is that when the information Hamiltonian is zero, portfolio operators commute with the Hamiltonian and this suggests that the dynamics are really due to the information. Under the assumption that the interaction and information terms in the Hamiltonian have similar strength, a perturbation scheme is considered on the interaction parameter. Contrary to intuition, the paper shows that up to a second order in the interaction parameter, a key factor in the computation of the portfolios of traders will be the initial values of the loss of information (rather than the initial conditions on the cash and shares). Finally, the paper shows that a natural outcome from the inequality of the variation of the portfolio of trader one versus the variation of the portfolio of trader two, begs for the introduction of ‘good’ and ‘bad’ information. It is shown that ‘good’ information is related to the reservoirs (where an infinite set of bosonic operators are used) which model rumors/news and external facts, whilst ‘bad’ information is associated with a set of two modes bosonic operators.

  14. You and Foreign Money.

    ERIC Educational Resources Information Center

    Tucker, James F.

    Foreign currency units, exchange rates, the international payments process, and spending money abroad are discussed briefly in this booklet to help teachers explain the international economy. Thirty-two countries are listed with their respective currency units, some of which are illustrated. A chart shows the average yearly exchange rates between…

  15. The sexual erotic market as an analytical framework for understanding erotic-affective exchanges in interracial sexually intimate and affective relationships.

    PubMed

    Vigoya, Mara Viveros

    2015-01-01

    This paper examines the way in which erotic-affective exchanges in interracial relationships have been analysed in Latin America. It considers how race, gender and class operate within a market of values such that erotic, affective and economic status are shaped by racial, gender and class hierarchies. In this paper I analyse historical and social arrangements that embody the region's political economy of race and sex. Such a perspective allows me to address the simultaneous co-existence of socio-racial exclusion and inclusion and the repressive and productive effects of power, attraction and anxiety as aspects of lived experiences in relation to sexuality. From there, I outline an analytical framework that references an erotic or pleasure-based market in which capital and other resources are exchanged from a structural perspective stressing relationship alliances. I conclude by identifying the scope and limits of such an approach.

  16. 7 CFR 29.2520 - Foreign matter.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 7 Agriculture 2 2011-01-01 2011-01-01 false Foreign matter. 29.2520 Section 29.2520 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing...-Cured Tobacco (u.s. Types 22, 23, and Foreign Type 96) § 29.2520 Foreign matter. Any...

  17. 7 CFR 29.2520 - Foreign matter.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 2 2014-01-01 2014-01-01 false Foreign matter. 29.2520 Section 29.2520 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing...-Cured Tobacco (u.s. Types 22, 23, and Foreign Type 96) § 29.2520 Foreign matter. Any...

  18. 7 CFR 29.2520 - Foreign matter.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 7 Agriculture 2 2012-01-01 2012-01-01 false Foreign matter. 29.2520 Section 29.2520 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing...-Cured Tobacco (u.s. Types 22, 23, and Foreign Type 96) § 29.2520 Foreign matter. Any...

  19. 7 CFR 29.2520 - Foreign matter.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Foreign matter. 29.2520 Section 29.2520 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing...-Cured Tobacco (u.s. Types 22, 23, and Foreign Type 96) § 29.2520 Foreign matter. Any...

  20. 7 CFR 29.2520 - Foreign matter.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 2 2013-01-01 2013-01-01 false Foreign matter. 29.2520 Section 29.2520 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing...-Cured Tobacco (u.s. Types 22, 23, and Foreign Type 96) § 29.2520 Foreign matter. Any...

  1. 7 CFR 51.2760 - Foreign material.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 7 Agriculture 2 2011-01-01 2011-01-01 false Foreign material. 51.2760 Section 51.2760 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Shelled Virginia Type Peanuts Definitions § 51.2760 Foreign material. Foreign material...

  2. 7 CFR 51.2718 - Foreign material.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 2 2013-01-01 2013-01-01 false Foreign material. 51.2718 Section 51.2718 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign material. Foreign material means pieces or loose particles of any substance other than...

  3. 7 CFR 51.2123 - Foreign material.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Foreign material. 51.2123 Section 51.2123 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Shelled Almonds Definitions § 51.2123 Foreign material. Foreign material...

  4. 7 CFR 51.2760 - Foreign material.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 2 2013-01-01 2013-01-01 false Foreign material. 51.2760 Section 51.2760 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign material. Foreign material means pieces or loose particles of any substance other than...

  5. 7 CFR 51.2718 - Foreign material.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Foreign material. 51.2718 Section 51.2718 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Shelled Runner Type Peanuts Definitions § 51.2718 Foreign material. Foreign material...

  6. 7 CFR 51.2738 - Foreign material.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 2 2014-01-01 2014-01-01 false Foreign material. 51.2738 Section 51.2738 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... § 51.2738 Foreign material. Foreign material means pieces or loose particles of any substance...

  7. 7 CFR 51.2760 - Foreign material.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 2 2014-01-01 2014-01-01 false Foreign material. 51.2760 Section 51.2760 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign material. Foreign material means pieces or loose particles of any substance other than...

  8. 7 CFR 51.2123 - Foreign material.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 7 Agriculture 2 2011-01-01 2011-01-01 false Foreign material. 51.2123 Section 51.2123 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Shelled Almonds Definitions § 51.2123 Foreign material. Foreign material...

  9. 7 CFR 51.2718 - Foreign material.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 7 Agriculture 2 2011-01-01 2011-01-01 false Foreign material. 51.2718 Section 51.2718 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Shelled Runner Type Peanuts Definitions § 51.2718 Foreign material. Foreign material...

  10. 7 CFR 51.2738 - Foreign material.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 2 2013-01-01 2013-01-01 false Foreign material. 51.2738 Section 51.2738 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... § 51.2738 Foreign material. Foreign material means pieces or loose particles of any substance...

  11. 7 CFR 51.2760 - Foreign material.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Foreign material. 51.2760 Section 51.2760 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Shelled Virginia Type Peanuts Definitions § 51.2760 Foreign material. Foreign material...

  12. 7 CFR 51.2718 - Foreign material.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 2 2014-01-01 2014-01-01 false Foreign material. 51.2718 Section 51.2718 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign material. Foreign material means pieces or loose particles of any substance other than...

  13. A theory of exchange rate modeling

    SciTech Connect

    Alekseev, A.A.

    1995-09-01

    The article examines exchange rate modeling for two cases: (a) when the trading partners have mutual interests and (b) when the trading partners have antogonistic interests. Exchange rates in world markets are determined by supply and demand for the currency of each state, and states may control the exchange rate of their currency by changing the interest rate, the volume of credit, and product prices in both domestic and export markets. Abstracting from issues of production and technology in different countries and also ignoring various trade, institutional, and other barriers, we consider in this article only the effect of export and import prices on the exchange rate, we propose a new criterion of external trade activity: each trading partner earns a profit which is proportional to the volume of benefits enjoyed by the other partner. We consider a trading cycle that consists of four stages: (a) purchase of goods in the domestic market with the object of selling them abroad; (b) sale of the goods in foreign markets; (c) purchase of goods abroad with the object of selling them in the domestic market; (d) sale of the goods domestically.

  14. 21 CFR 314.106 - Foreign data.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 21 Food and Drugs 5 2010-04-01 2010-04-01 false Foreign data. 314.106 Section 314.106 Food and... Applications § 314.106 Foreign data. (a) General. The acceptance of foreign data in an application generally is... solely on foreign clinical data meeting U.S. criteria for marketing approval may be approved if: (1)...

  15. 21 CFR 314.106 - Foreign data.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 21 Food and Drugs 5 2014-04-01 2014-04-01 false Foreign data. 314.106 Section 314.106 Food and... Applications § 314.106 Foreign data. (a) General. The acceptance of foreign data in an application generally is... solely on foreign clinical data meeting U.S. criteria for marketing approval may be approved if: (1)...

  16. 21 CFR 314.106 - Foreign data.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 21 Food and Drugs 5 2013-04-01 2013-04-01 false Foreign data. 314.106 Section 314.106 Food and... Applications § 314.106 Foreign data. (a) General. The acceptance of foreign data in an application generally is... solely on foreign clinical data meeting U.S. criteria for marketing approval may be approved if: (1)...

  17. 21 CFR 314.106 - Foreign data.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 21 Food and Drugs 5 2012-04-01 2012-04-01 false Foreign data. 314.106 Section 314.106 Food and... Applications § 314.106 Foreign data. (a) General. The acceptance of foreign data in an application generally is... solely on foreign clinical data meeting U.S. criteria for marketing approval may be approved if: (1)...

  18. 21 CFR 314.106 - Foreign data.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 21 Food and Drugs 5 2011-04-01 2011-04-01 false Foreign data. 314.106 Section 314.106 Food and... Applications § 314.106 Foreign data. (a) General. The acceptance of foreign data in an application generally is... solely on foreign clinical data meeting U.S. criteria for marketing approval may be approved if: (1)...

  19. Addressing health care market reform through an insurance exchange: essential policy components, the public plan option, and other issues to consider.

    PubMed

    Fronstin, Paul; Ross, Murray N

    2009-06-01

    HEALTH INSURANCE EXCHANGE: This Issue Brief examines issues related to managed competition and the use of a health insurance exchange for the purpose of addressing cost, quality, and access to health care services. It discusses issues that must be addressed when designing an exchange in order to reform the health insurance market and also examines state efforts at health reform that use an exchange. RISK VS. PRICE COMPETITION: The basic component of managed competition is the creation an organized marketplace that brings together health insurers and consumers (either as individuals or through their employers). The sponsor of the exchange would set "rules of engagement" for participating insurers and offer consumers a menu of choices among different plans. Ultimately, the goal of a health insurance exchange is to shift the market from competition based on risk to competition based on price and quality. ADVERSE SELECTION AND AFFORDABILITY: Among the issues that need to be addressed if an exchange that uses managed competition has a realistic chance of reducing costs, improving quality, and expanding coverage: Everyone needs to be in the risk pool, with individuals required to purchase insurance or face significant financial consequences; effective risk adjustment is essential to eliminate risk selection as an insurance business model--forcing competition on costs and quality; the insurance benefit must be specific and clear--without standards governing cost sharing, covered services, and network coverage there is no way to assess whether a requirement to purchase or issue coverage has been met; and subsidies would be necessary for low-income individuals to purchase insurance. THE PUBLIC PLAN OPTION: The public plan option is shaping up to be one of the most contentious issues in the health reform debate. Proponents also believe of a public plan is necessary to drive private insurers toward true competition. Opponents view it as a step toward government-run health

  20. Cryptographic Securities Exchanges

    NASA Astrophysics Data System (ADS)

    Thorpe, Christopher; Parkes, David C.

    While transparency in financial markets should enhance liquidity, its exploitation by unethical and parasitic traders discourages others from fully embracing disclosure of their own information. Traders exploit both the private information in upstairs markets used to trade large orders outside traditional exchanges and the public information present in exchanges' quoted limit order books. Using homomorphic cryptographic protocols, market designers can create "partially transparent" markets in which every matched trade is provably correct and only beneficial information is revealed. In a cryptographic securities exchange, market operators can hide information to prevent its exploitation, and still prove facts about the hidden information such as bid/ask spread or market depth.

  1. Assessing the Impact of School-Based Marketing Efforts: A Case Study of a Foreign Language Immersion Program in a School-Choice Environment

    ERIC Educational Resources Information Center

    Olson Beal, Heather K.; Beal, Brent D.

    2016-01-01

    The marketization of K-12 education has led to an increase in school-based marketing efforts. Relatively little research, however, has examined how public schools market themselves, who is involved in marketing, and how these marketing efforts impact key stakeholders, including school administrators, teachers, students, and parents.We explore…

  2. Gold, currencies and market efficiency

    NASA Astrophysics Data System (ADS)

    Kristoufek, Ladislav; Vosvrda, Miloslav

    2016-05-01

    Gold and currency markets form a unique pair with specific interactions and dynamics. We focus on the efficiency ranking of gold markets with respect to the currency of purchase. By utilizing the Efficiency Index (EI) based on fractal dimension, approximate entropy and long-term memory on a wide portfolio of 142 gold price series for different currencies, we construct the efficiency ranking based on the extended EI methodology we provide. Rather unexpected results are uncovered as the gold prices in major currencies lay among the least efficient ones whereas very minor currencies are among the most efficient ones. We argue that such counterintuitive results can be partly attributed to a unique period of examination (2011-2014) characteristic by quantitative easing and rather unorthodox monetary policies together with the investigated illegal collusion of major foreign exchange market participants, as well as some other factors discussed in some detail.

  3. 7 CFR 1218.11 - Market or marketing.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 7 Agriculture 10 2012-01-01 2012-01-01 false Market or marketing. 1218.11 Section 1218.11... Market or marketing. (a) Marketing means the sale or other disposition of blueberries in any channel of commerce. (b) To market means to sell or otherwise dispose of blueberries in interstate, foreign,...

  4. Marketing and Market Research for Adult and Continuing Education.

    ERIC Educational Resources Information Center

    Buckmaster, Annette

    Marketing is an essential part of conducting a continuing education program, but marketing consists of more than just promotion. According to Kotler, exchange is the central concept underlying marketing. Marketing involves understanding, planning, implementing, and controlling this exchange. The exchange situation contains all the elements of the…

  5. Chinese Communism: Foreign Prospects

    ERIC Educational Resources Information Center

    Treadgold, Donald W.

    1977-01-01

    Discussed are Communist China's relationship to Russia, socialist innovations, treatment of minority groups, foreign relations, standard of living, life-style, and culture. The author concludes that western nations should normalize relations with China. Available from: American-Asian Educational Exchange, 88 Morningside Drive, New York, NY 10027.…

  6. 77 FR 41885 - Market Access Program

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-17

    ... Corporation 7 CFR Part 1485 Market Access Program AGENCY: Foreign Agricultural Service and Commodity Credit... following correcting amendment: PART 1485--GRANT AGREEMENTS FOR THE DEVELOPMENT OF FOREIGN MARKETS FOR...

  7. 76 FR 79254 - Self-Regulatory Organizations; EDGA Exchange, Inc.; EDGX Exchange, Inc.; Order Approving Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-21

    .... Registration of Market Makers The Exchanges propose to give Members the option to register as Market Makers... thereunder. \\6\\ 17 CFR 240.15c3-1. The Exchanges could suspend or terminate the registration of a Market Maker if the Exchange(s) determine(s) that the Market Maker: Substantially or continually fails...

  8. Crafts Development and Marketing Manual. Appropriate Technologies for Development. Peace Corps Information Collection & Exchange Manual Series No. M-24.

    ERIC Educational Resources Information Center

    Ramsay, Caroline C.; And Others

    This manual was developed to help Peace Corps volunteers assist local craftspeople in developing nations in initiating and operating small businesses to produce and market their products. The manual is organized in eight chapters that cover the following topics: the crafts environment, common problems and solutions for a crafts business,…

  9. 7 CFR 29.3023 - Foreign matter.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 7 Agriculture 2 2012-01-01 2012-01-01 false Foreign matter. 29.3023 Section 29.3023 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any extraneous substance or material such as stalks, suckers, straw, strings, rubber...

  10. 7 CFR 29.6015 - Foreign matter.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 2 2014-01-01 2014-01-01 false Foreign matter. 29.6015 Section 29.6015 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... INSPECTION Standards Definitions § 29.6015 Foreign matter. Any extraneous substance or material such...

  11. 7 CFR 29.2270 - Foreign matter.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Foreign matter. 29.2270 Section 29.2270 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any extraneous substance or material such as stalks, suckers, straw, strings, rubber...

  12. 7 CFR 29.2270 - Foreign matter.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 2 2014-01-01 2014-01-01 false Foreign matter. 29.2270 Section 29.2270 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any extraneous substance or material such as stalks, suckers, straw, strings, rubber...

  13. 7 CFR 30.21 - Foreign matter.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 7 Agriculture 2 2011-01-01 2011-01-01 false Foreign matter. 30.21 Section 30.21 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any substance or material extraneous to tobacco leaves, such as dirt, sand,...

  14. 7 CFR 29.1020 - Foreign matter.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Foreign matter. 29.1020 Section 29.1020 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Type 92) § 29.1020 Foreign matter. Any extraneous substance or material such as straw, strings,...

  15. 7 CFR 29.3023 - Foreign matter.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 2 2013-01-01 2013-01-01 false Foreign matter. 29.3023 Section 29.3023 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any extraneous substance or material such as stalks, suckers, straw, strings, rubber...

  16. 7 CFR 29.3023 - Foreign matter.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Foreign matter. 29.3023 Section 29.3023 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any extraneous substance or material such as stalks, suckers, straw, strings, rubber...

  17. 7 CFR 30.21 - Foreign matter.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 2 2013-01-01 2013-01-01 false Foreign matter. 30.21 Section 30.21 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any substance or material extraneous to tobacco leaves, such as dirt, sand,...

  18. 7 CFR 29.3023 - Foreign matter.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 2 2014-01-01 2014-01-01 false Foreign matter. 29.3023 Section 29.3023 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any extraneous substance or material such as stalks, suckers, straw, strings, rubber...

  19. 7 CFR 29.2270 - Foreign matter.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 2 2013-01-01 2013-01-01 false Foreign matter. 29.2270 Section 29.2270 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any extraneous substance or material such as stalks, suckers, straw, strings, rubber...

  20. 7 CFR 29.1020 - Foreign matter.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 7 Agriculture 2 2011-01-01 2011-01-01 false Foreign matter. 29.1020 Section 29.1020 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Type 92) § 29.1020 Foreign matter. Any extraneous substance or material such as straw, strings,...

  1. 7 CFR 29.6015 - Foreign matter.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 7 Agriculture 2 2011-01-01 2011-01-01 false Foreign matter. 29.6015 Section 29.6015 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... INSPECTION Standards Definitions § 29.6015 Foreign matter. Any extraneous substance or material such...

  2. 7 CFR 29.6015 - Foreign matter.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 7 Agriculture 2 2012-01-01 2012-01-01 false Foreign matter. 29.6015 Section 29.6015 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... INSPECTION Standards Definitions § 29.6015 Foreign matter. Any extraneous substance or material such...

  3. 7 CFR 29.1020 - Foreign matter.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 2 2013-01-01 2013-01-01 false Foreign matter. 29.1020 Section 29.1020 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Type 92) § 29.1020 Foreign matter. Any extraneous substance or material such as straw, strings,...

  4. 7 CFR 30.21 - Foreign matter.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Foreign matter. 30.21 Section 30.21 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any substance or material extraneous to tobacco leaves, such as dirt, sand,...

  5. 7 CFR 29.2270 - Foreign matter.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 7 Agriculture 2 2011-01-01 2011-01-01 false Foreign matter. 29.2270 Section 29.2270 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any extraneous substance or material such as stalks, suckers, straw, strings, rubber...

  6. 7 CFR 29.2270 - Foreign matter.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 7 Agriculture 2 2012-01-01 2012-01-01 false Foreign matter. 29.2270 Section 29.2270 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any extraneous substance or material such as stalks, suckers, straw, strings, rubber...

  7. 7 CFR 29.1020 - Foreign matter.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 2 2014-01-01 2014-01-01 false Foreign matter. 29.1020 Section 29.1020 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Type 92) § 29.1020 Foreign matter. Any extraneous substance or material such as straw, strings,...

  8. 7 CFR 29.6015 - Foreign matter.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 2 2013-01-01 2013-01-01 false Foreign matter. 29.6015 Section 29.6015 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... INSPECTION Standards Definitions § 29.6015 Foreign matter. Any extraneous substance or material such...

  9. 7 CFR 29.1020 - Foreign matter.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 7 Agriculture 2 2012-01-01 2012-01-01 false Foreign matter. 29.1020 Section 29.1020 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Type 92) § 29.1020 Foreign matter. Any extraneous substance or material such as straw, strings,...

  10. 7 CFR 30.21 - Foreign matter.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 7 Agriculture 2 2012-01-01 2012-01-01 false Foreign matter. 30.21 Section 30.21 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any substance or material extraneous to tobacco leaves, such as dirt, sand,...

  11. 7 CFR 29.6015 - Foreign matter.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Foreign matter. 29.6015 Section 29.6015 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... INSPECTION Standards Definitions § 29.6015 Foreign matter. Any extraneous substance or material such...

  12. 7 CFR 30.21 - Foreign matter.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 2 2014-01-01 2014-01-01 false Foreign matter. 30.21 Section 30.21 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any substance or material extraneous to tobacco leaves, such as dirt, sand,...

  13. 7 CFR 29.3023 - Foreign matter.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 7 Agriculture 2 2011-01-01 2011-01-01 false Foreign matter. 29.3023 Section 29.3023 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Foreign matter. Any extraneous substance or material such as stalks, suckers, straw, strings, rubber...

  14. 12 CFR 614.4700 - Financing foreign trade receivables.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... the draft. (4) The degree of ease with which necessary foreign exchange conversion can be made, or the extent to which foreign currency exposure may be hedged by forward or future contracts. (5)...

  15. 12 CFR 614.4700 - Financing foreign trade receivables.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... the draft. (4) The degree of ease with which necessary foreign exchange conversion can be made, or the extent to which foreign currency exposure may be hedged by forward or future contracts. (5)...

  16. 12 CFR 614.4700 - Financing foreign trade receivables.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... the draft. (4) The degree of ease with which necessary foreign exchange conversion can be made, or the extent to which foreign currency exposure may be hedged by forward or future contracts. (5)...

  17. 76 FR 82011 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing of Proposed Rule Change To...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-29

    ... competitive and aggressive quoting by market makers registered with the Exchange (``Market Makers'') in... for financial incentives, the Exchange is rewarding aggressive liquidity providers in the market....

  18. 15 CFR 768.5 - Contents of foreign availability submissions and Technical Advisory Committee certifications.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... Regulations Relating to Commerce and Foreign Trade (Continued) BUREAU OF INDUSTRY AND SECURITY, DEPARTMENT OF... the alleged comparable items and marketing efforts; (6) Estimated market demand and the...

  19. [Foreigners, 1989].

    PubMed

    Fleischer, H

    1990-08-01

    The first part of this article contains data on the foreign population in West Germany in 1989, along with some comparative statistics for earlier years. Information is included on population size, births and deaths, international migration, refugees, regional distribution, nationality, and age structure. The second part provides summary statistics on foreigners in East Germany.

  20. Can Foreign Diplomas Be Exchanged for "Chinese Opportunities"?: The "Returnees from Abroad" Halo Gradually Fades and the "Unemployed from Abroad" Get Cold Receptions in Employment Markets

    ERIC Educational Resources Information Center

    Hua, Sun; Jie, Gui; Gang, Chen

    2005-01-01

    Ever since reform and opening up to the outside, more than 700,000 persons in China have gone abroad to study, and 170,000 of these have completed their studies and come back. In 2003 alone, more than 20,000 study-abroad personnel returned to China. With the increases in returned study-abroad persons, the issue of employment for these returnees…

  1. 7 CFR 1212.14 - Market or marketing.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 7 Agriculture 10 2012-01-01 2012-01-01 false Market or marketing. 1212.14 Section 1212.14..., Promotion, Consumer Education, and Industry Information Order Definitions § 1212.14 Market or marketing. (a...) “Market” means to sell or otherwise dispose of honey or honey products in interstate, foreign,...

  2. 75 FR 28667 - Market Structure Roundtable

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-05-21

    ... COMMISSION Market Structure Roundtable AGENCY: Securities and Exchange Commission. ACTION: Notice of... securities market structure. The roundtable will focus on market structure performance, including the events of May 6, metrics for evaluating market structure performance, high frequency trading,...

  3. Exchange of Newcastle disease viruses in Korea: the relatedness of isolates between wild birds, live bird markets, poultry farms and neighboring countries.

    PubMed

    Kim, Byoung-Yoon; Lee, Dong-Hun; Kim, Myeong-Seob; Jang, Jun-Hyuk; Lee, Yu-Na; Park, Jae-Keun; Yuk, Seong-Su; Lee, Joong-Bok; Park, Seung-Yong; Choi, In-Soo; Song, Chang-Seon

    2012-03-01

    Newcastle disease virus (NDV) has a worldwide distribution and is often carried by wild ducks, which may represent one of the natural reservoirs. However, the epidemiological relatedness of NDV between wild ducks and domestic poultry is unclear. A total of 14 isolates were obtained from 8439 samples from live bird markets (LBMs) and wild bird populations in Korea during from 2007 to 2010. These isolates were characterized genetically and phylogenetic analysis was conducted to investigate the relatedness between isolates from wild birds, LBM and poultry farms. In phylogenetic analysis, all 14 isolates belonged to genotype I virus within class II. Of these, nine isolates from wild birds were most closely related to the Aomori-like cluster. The five LBM isolates were most closely related to the V4-like cluster. All isolates in this study were closely related to isolates from domestic duck farms in Korea and Chinese LBM isolates. The results indicate that NDV exchange occurs between wild birds, poultry farms, LBMs and neighboring countries. Enhanced NDV surveillance is required to monitor the introduction of variant NDV in consequence of evolution in LBMs and to investigate NDV epidemiology in various species of putative hosts.

  4. Option price and market instability

    NASA Astrophysics Data System (ADS)

    Baaquie, Belal E.; Yu, Miao

    2017-04-01

    An option pricing formula, for which the price of an option depends on both the value of the underlying security as well as the velocity of the security, has been proposed in Baaquie and Yang (2014). The FX (foreign exchange) options price was empirically studied in Baaquie et al., (2014), and it was found that the model in general provides an excellent fit for all strike prices with a fixed model parameters-unlike the Black-Scholes option price Hull and White (1987) that requires the empirically determined implied volatility surface to fit the option data. The option price proposed in Baaquie and Cao Yang (2014) did not fit the data during the crisis of 2007-2008. We make a hypothesis that the failure of the option price to fit data is an indication of the market's large deviation from its near equilibrium behavior due to the market's instability. Furthermore, our indicator of market's instability is shown to be more accurate than the option's observed volatility. The market prices of the FX option for various currencies are studied in the light of our hypothesis.

  5. Immigration and Status Exchange in Australia and the United States.

    PubMed

    Choi, Kate H; Tienda, Marta; Cobb-Clark, Deborah; Sinning, Mathias

    2012-03-01

    This paper evaluates the status exchange hypothesis for Australia and the United States, two Anglophone nations with long immigration traditions whose admission regimes place different emphases on skills. Using log-linear methods, we demonstrate that foreign-born spouses trade educational credentials via marriage with natives in both Australian and U.S. marriage markets and, moreover, that nativity is a more salient marriage barrier for men than for women. With some exceptions, immigrant spouses in mixed nativity couples are better educated than native spouses in same nativity couples, but status exchange is more prevalent among the less-educated spouses in both countries. Support for the status exchange hypothesis is somewhat weaker in Australia partly because of lower average levels of education compared with the United States and partly because of less sharply defined educational hierarchy at the postsecondary level.

  6. Immigration and Status Exchange in Australia and the United States

    PubMed Central

    Choi, Kate H.; Tienda, Marta; Cobb-Clark, Deborah; Sinning, Mathias

    2012-01-01

    This paper evaluates the status exchange hypothesis for Australia and the United States, two Anglophone nations with long immigration traditions whose admission regimes place different emphases on skills. Using log-linear methods, we demonstrate that foreign-born spouses trade educational credentials via marriage with natives in both Australian and U.S. marriage markets and, moreover, that nativity is a more salient marriage barrier for men than for women. With some exceptions, immigrant spouses in mixed nativity couples are better educated than native spouses in same nativity couples, but status exchange is more prevalent among the less-educated spouses in both countries. Support for the status exchange hypothesis is somewhat weaker in Australia partly because of lower average levels of education compared with the United States and partly because of less sharply defined educational hierarchy at the postsecondary level. PMID:23226914

  7. Theoretical Analysis of the Professional Competence's Formation and Development in the Light of Ukrainian and Foreign Scientists (In Terms of the Marketers' Professional Skills and Abilities)

    ERIC Educational Resources Information Center

    Levkovych, Uliana

    2014-01-01

    This paper defines formation of the concept of "competence", attaches importance to the invariant of professional qualification, and explains core competencies of the marketer. The general and extensive use of the term "competence" in professional education and training has been indicated. It has been noted that recently the…

  8. 75 FR 51138 - Self-Regulatory Organizations; BATS Exchange, Inc.; Chicago Board Options Exchange, Incorporated...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-08-18

    ...; BATS Exchange, Inc.; Chicago Board Options Exchange, Incorporated; Chicago Stock Exchange, Inc.; EDGA... Securities Exchange LLC; NASDAQ OMX BX, Inc.; The NASDAQ Stock Market LLC; National Stock Exchange, Inc.; New York Stock Exchange LLC; NYSE Amex LLC; NYSE Arca, Inc.; Notice of Designation of Longer Period...

  9. 75 FR 52558 - Self-Regulatory Organizations; BATS Exchange, Inc.; Chicago Board Options Exchange, Incorporated...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-08-26

    ...; BATS Exchange, Inc.; Chicago Board Options Exchange, Incorporated; Chicago Stock Exchange, Inc.; EDGA... Securities Exchange LLC; NASDAQ OMX BX, Inc.; The NASDAQ Stock Market LLC; National Stock Exchange, Inc.; New York Stock Exchange LLC; NYSE Amex LLC; NYSE Arca, Inc.; Correction August 19, 2010. The Securities...

  10. Joint Ventures in Cuba: Opportunities for Direct Foreign Investment.

    ERIC Educational Resources Information Center

    Tancer, Robert S.

    1995-01-01

    Presents a brief history of direct foreign investment in Cuba since 1982. This investment currently plays an important role in Cuba as a replacement to Soviet aid and as a means to earn foreign exchange. Tourism and mining are the preferred area for foreign investment because both of these sectors offer hard currency returns for Cuba. (20…

  11. 17 CFR 242.503 - Certain foreign research reports.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Certain foreign research... Regulation Ac-Analyst Certification § 242.503 Certain foreign research reports. A foreign person, located outside the United States and not associated with a registered broker or dealer, who prepares a...

  12. 17 CFR 242.503 - Certain foreign research reports.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 17 Commodity and Securities Exchanges 3 2011-04-01 2011-04-01 false Certain foreign research... Regulation Ac-Analyst Certification § 242.503 Certain foreign research reports. A foreign person, located outside the United States and not associated with a registered broker or dealer, who prepares a...

  13. Survey of Foreign Language Majors.

    ERIC Educational Resources Information Center

    Allawala, Aslam U.; And Others

    This marketing research project was undertaken to provide the International Institute of the University of Dallas with information regarding the career perception of foreign language majors for its use in recruitment for the International Management Program. Students from Arkansas, Louisiana, Oklahoma, and Texas were included in the study. Primary…

  14. 7 CFR 1214.11 - Marketing.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 10 2014-01-01 2014-01-01 false Marketing. 1214.11 Section 1214.11 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (MARKETING AGREEMENTS... Marketing. Marketing means to sell or otherwise dispose of Christmas trees in interstate, foreign...

  15. 7 CFR 1214.11 - Marketing.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 10 2013-01-01 2013-01-01 false Marketing. 1214.11 Section 1214.11 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (MARKETING AGREEMENTS... Marketing. Marketing means to sell or otherwise dispose of Christmas trees in interstate, foreign...

  16. 7 CFR 1214.11 - Marketing.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 7 Agriculture 10 2012-01-01 2012-01-01 false Marketing. 1214.11 Section 1214.11 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (MARKETING AGREEMENTS... Marketing. Marketing means to sell or otherwise dispose of Christmas trees in interstate, foreign...

  17. 17 CFR 239.43 - Form F-N, appointment of agent for service of process by foreign banks and foreign insurance...

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Form F-N, appointment of agent for service of process by foreign banks and foreign insurance companies and certain of their holding... agent for service of process by foreign banks and foreign insurance companies and certain of...

  18. 17 CFR 239.43 - Form F-N, appointment of agent for service of process by foreign banks and foreign insurance...

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 17 Commodity and Securities Exchanges 2 2011-04-01 2011-04-01 false Form F-N, appointment of agent for service of process by foreign banks and foreign insurance companies and certain of their holding... agent for service of process by foreign banks and foreign insurance companies and certain of...

  19. Issues and Innovations in Foreign Language Education. Fastback 222.

    ERIC Educational Resources Information Center

    Benevento, Jacqueline

    Studies indicate that American students have an inadequate understanding of world affairs, with implications for United States national security, business interests in foreign markets, and education in general, and specific recommendations have been made for the improvement of foreign language instruction. Foreign language education in the 1980s…

  20. 17 CFR 38.651 - Protection of markets and market participants.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 17 Commodity and Securities Exchanges 1 2014-04-01 2014-04-01 false Protection of markets and market participants. 38.651 Section 38.651 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION DESIGNATED CONTRACT MARKETS Protection of Markets and Market Participants § 38.651 Protection...

  1. 17 CFR 38.651 - Protection of markets and market participants.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 17 Commodity and Securities Exchanges 1 2013-04-01 2013-04-01 false Protection of markets and market participants. 38.651 Section 38.651 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION DESIGNATED CONTRACT MARKETS Protection of Markets and Market Participants § 38.651 Protection...

  2. 22 CFR 23.4 - Representative value in exchange.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Representative value in exchange. 23.4 Section 23.4 Foreign Relations DEPARTMENT OF STATE FEES AND FUNDS FINANCE AND ACCOUNTING § 23.4 Representative value in exchange. Representative value in exchange for the collection of a fee means...

  3. Evolution of FX Markets via Globalization of Capital

    NASA Astrophysics Data System (ADS)

    McCauley, Joseph L.

    This paper is about money, and why today's foreign exchange (FX) markets are unstable. According to the literature [1], FX markets were fundamentally different before and after WW I. Any attempt to discuss this topic within standard economic theory necessarily fails because money/liquidity/uncertainty is completely excluded from that theory [2]. Fortunately, our market dynamics models adequately serve our purpose. Eichengreen [1] has presented a stimulating history of the evolution of FX markets from the gold standard of the late nineteenth century through the Bretton Woods Agreement (post WWII-1971) and later the floating currencies of our present market deregulation era (1971-present). He asserts a change from stability to instability over the time interval of WWI. Making his argument precise, we describe how speculators could have made money systematically from a market in statistical equilibrium. The present era normal liquid FX markets are in contrast very hard, to a first approximation impossible, to beat, and consequently are described as `martingales'. The ideas of martingales and options/hedging were irrelevant in the pre-WWI era. I end my historical discussion with the empirical evidence for the stochastic model that describes FX market dynamics quantitatively accurately during the last 7-17 years [3].

  4. Basic Concepts and Principles of Marketing.

    ERIC Educational Resources Information Center

    Beder, Hal

    1986-01-01

    Presents an overview of marketing concepts and principles. These include (1) organizational objectives, (2) exchange, (3) value, (4) market segmentation, (5) market position, (6) consumer analysis, (7) product, (8) promotion, (9) place, and (10) price. (CH)

  5. 26 CFR 1.367(a)-1T - Transfers to foreign corporations subject to section 367(a): In general (temporary).

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... goodwill or going concern value. Foreign goodwill or going concern value is the residual value of a... the right to use a corporate name in a foreign country shall be treated as foreign goodwill or going... marketing intangibles developed by a foreign branch shall be treated as foreign goodwill or going...

  6. Research on Development Mode of Foreign Competitive Basketball

    NASA Astrophysics Data System (ADS)

    Xianjiang, Zhou; Bin, Zong; Xianwu, Wu

    Adopting literature material method, survey and comparative method, the paper studies foreign competitive basketball, foreign competitive basketball on behalf of the State management system model, competitive basketball reserve personnel training and development mode system. Rely on different powers of the foreign competitive basketball from amateur to professional development; different modes of foreign competitive basketball management system; foreign competitive basketball back-up personnel training mode, the model on school training in America and other countries, mainly the club training mode in European countries; foreign model of development of competitive basketball, different from social guidance, in the combination operation mode of market regulation and government administrative intervention.

  7. Decomposing intraday dependence in currency markets: evidence from the AUD/USD spot market

    NASA Astrophysics Data System (ADS)

    Batten, Jonathan A.; Ellis, Craig A.; Hogan, Warren P.

    2005-07-01

    The local Hurst exponent, a measure employed to detect the presence of dependence in a time series, may also be used to investigate the source of intraday variation observed in the returns in foreign exchange markets. Given that changes in the local Hurst exponent may be due to either a time-varying range, or standard deviation, or both of these simultaneously, values for the range, standard deviation and local Hurst exponent are recorded and analyzed separately. To illustrate this approach, a high-frequency data set of the spot Australian dollar/US dollar provides evidence of the returns distribution across the 24-hour trading ‘day’, with time-varying dependence and volatility clearly aligning with the opening and closing of markets. This variation is attributed to the effects of liquidity and the price-discovery actions of dealers.

  8. Foreign grants

    NASA Astrophysics Data System (ADS)

    The Smithsonian Foreign Currency Program offers opportunities for support of research in Burma, Guinea, India, and Pakistan in astrophysics and earth sciences. Opportunities also are available in the following disciplines: anthropology, archeology and related topics, systematic and environmental biology, and museum programs.Grants in the local currencies of the countries listed above are awarded to American institutions for research by senior scientists. Collaborative programs involving host country institutions are welcome. Awards are determined on the basis of competitive scholarly review. The deadline for submission of applications is November 1 each year. For further information, contact the Foreign Currency Program, Office of Fellowships and Grants, Smithsonian Institution, Washington, D.C. 20560 (telephone: 202-287-3321).

  9. Foreign grants

    NASA Astrophysics Data System (ADS)

    The Smithsonian Foreign Currency Program, a national research grants program, offers opportunities for support of research in Burma, Guinea, India, and Pakistan in astrophysics and earth sciences; anthropology, archeology, and related disciplines; systematic and environmental biology; and museum programs.Grants in the local currencies of the countries are awarded to U.S. institutions for research by senior scientists; collaborative programs involving host country institutions are welcome. Awards are determined on the basis of competitive scholarly review.

  10. 77 FR 62177 - Retail Foreign Exchange Transactions

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-10-12

    ... distinguishes retail customers from non-retail customers through the term eligible contract participant (ECP).\\11\\ In many cases, the CEA provides fewer protections to ECPs than retail customers, i.e., non-ECPs... preliminarily believes that treating bank funds as traditional retail customers for purposes of the retail...

  11. 76 FR 41676 - Retail Foreign Exchange Transactions

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-15

    ... with the disclosure requirements in NASD Rule 2210.\\40\\ NASD Rule 2210 requires all communications with the public by members of FINRA-- including forex-related communications--to be based on principles of... in any communication with the public.'' As stated in the FINRA Forex Notice, a...

  12. 76 FR 56094 - Retail Foreign Exchange Transactions

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-09-12

    ... Supervision (OTS) was the appropriate Federal regulatory agency for Federal savings associations. The OTS did... disputes related to retail forex transactions: civil court litigation and arbitration conducted by...

  13. 78 FR 42439 - Retail Foreign Exchange Transactions

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-16

    ... settle on a T+3 or greater timeline.\\5\\ Significantly, certain types of transactions are not ``retail... subject to certain restrictions) or an alternative monetary test coupled with a non-monetary component (e... enumerated types of regulated entities; and certain governmental entities and individuals that meet...

  14. Foreign Cultural Exchange Jurisdictional Immunity Clarification Act

    THOMAS, 112th Congress

    Rep. Chabot, Steve [R-OH-1

    2012-02-24

    03/20/2012 Received in the Senate and Read twice and referred to the Committee on the Judiciary. (All Actions) Tracker: This bill has the status Passed HouseHere are the steps for Status of Legislation:

  15. Foreign Cultural Exchange Jurisdictional Immunity Clarification Act

    THOMAS, 112th Congress

    Sen. Feinstein, Dianne [D-CA

    2012-03-20

    03/20/2012 Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S1849) (All Actions) Tracker: This bill has the status IntroducedHere are the steps for Status of Legislation:

  16. Foreign Cultural Exchange Jurisdictional Immunity Clarification Act

    THOMAS, 113th Congress

    Rep. Chabot, Steve [R-OH-1

    2014-03-25

    05/07/2014 Received in the Senate and Read twice and referred to the Committee on the Judiciary. (All Actions) Tracker: This bill has the status Passed HouseHere are the steps for Status of Legislation:

  17. 26 CFR 1.905-4T - Notification of foreign tax redetermination (temporary).

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... through a branch in Country N, the currency of which is the n. X uses the average exchange rate to... foreign source general category income. The average exchange rate for 2008 was $1:1m. Also in 2008, X.... The average exchange rate for 2008 was $1:1n. X claimed a foreign tax credit of $150 ($100 (100m at...

  18. 26 CFR 1.905-4T - Notification of foreign tax redetermination (temporary).

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... through a branch in Country N, the currency of which is the n. X uses the average exchange rate to... foreign source general category income. The average exchange rate for 2008 was $1:1m. Also in 2008, X.... The average exchange rate for 2008 was $1:1n. X claimed a foreign tax credit of $150 ($100 (100m at...

  19. 26 CFR 1.905-4T - Notification of foreign tax redetermination (temporary).

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... through a branch in Country N, the currency of which is the n. X uses the average exchange rate to... foreign source general category income. The average exchange rate for 2008 was $1:1m. Also in 2008, X.... The average exchange rate for 2008 was $1:1n. X claimed a foreign tax credit of $150 ($100 (100m at...

  20. 26 CFR 1.905-4T - Notification of foreign tax redetermination (temporary).

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... through a branch in Country N, the currency of which is the n. X uses the average exchange rate to... foreign source general category income. The average exchange rate for 2008 was $1:1m. Also in 2008, X.... The average exchange rate for 2008 was $1:1n. X claimed a foreign tax credit of $150 ($100 (100m at...

  1. 26 CFR 1.905-4T - Notification of foreign tax redetermination (temporary).

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... through a branch in Country N, the currency of which is the n. X uses the average exchange rate to... foreign source general category income. The average exchange rate for 2008 was $1:1m. Also in 2008, X.... The average exchange rate for 2008 was $1:1n. X claimed a foreign tax credit of $150 ($100 (100m at...

  2. The futility of utility: how market dynamics marginalize Adam Smith

    NASA Astrophysics Data System (ADS)

    McCauley, Joseph L.

    2000-10-01

    Economic theorizing is based on the postulated, nonempiric notion of utility. Economists assume that prices, dynamics, and market equilibria are supposed to be derived from utility. The results are supposed to represent mathematically the stabilizing action of Adam Smith's invisible hand. In deterministic excess demand dynamics I show the following. A utility function generally does not exist mathematically due to nonintegrable dynamics when production/investment are accounted for, resolving Mirowski's thesis. Price as a function of demand does not exist mathematically either. All equilibria are unstable. I then explain how deterministic chaos can be distinguished from random noise at short times. In the generalization to liquid markets and finance theory described by stochastic excess demand dynamics, I also show the following. Market price distributions cannot be rescaled to describe price movements as ‘equilibrium’ fluctuations about a systematic drift in price. Utility maximization does not describe equilibrium. Maximization of the Gibbs entropy of the observed price distribution of an asset would describe equilibrium, if equilibrium could be achieved, but equilibrium does not describe real, liquid markets (stocks, bonds, foreign exchange). There are three inconsistent definitions of equilibrium used in economics and finance, only one of which is correct. Prices in unregulated free markets are unstable against both noise and rising or falling expectations: Adam Smith's stabilizing invisible hand does not exist, either in mathematical models of liquid market data, or in real market data.

  3. 76 FR 11327 - Technical Amendments to Rule 17a-8: Financial Recordkeeping and Reporting of Currency and Foreign...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-03-02

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE... Currency and Foreign Transactions AGENCY: Securities and Exchange Commission. ACTION: Final rule; technical amendments. SUMMARY: The Securities and Exchange Commission (``Commission'') is adopting technical...

  4. 75 FR 6773 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated, International...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-02-10

    ... traded on the Exchange. Also, the Exchange may obtain information from the New York Mercantile Exchange... the mechanism of a free and open market and a national market system and, in general, to...

  5. World helicopter market study

    NASA Technical Reports Server (NTRS)

    Cleary, B.; Pearson, R. W.; Greenwood, S. W.; Kaplan, L.

    1978-01-01

    The extent of the threat to the US helicopter industry posed by a determined effort by foreign manufacturers, European companies in particular, to supply their own domestic markets and also to penetrate export markets, including the USA is assessed. Available data on US and world markets for civil and military uses are collated and presented in both graphic and tabular form showing the past history of production and markets and, where forecasts are available, anticipated future trends. The data are discussed on an item-by-item basis and inferences are drawn in as much depth as appears justified.

  6. Dynamical model of financial markets: fluctuating ‘temperature’ causes intermittent behavior of price changes

    NASA Astrophysics Data System (ADS)

    Kozuki, Naoki; Fuchikami, Nobuko

    2003-11-01

    We present a model of financial markets originally proposed for a turbulent flow, as a dynamic basis of its intermittent behavior. Time evolution of the price change is assumed to be described by Brownian motion in a power-law potential, where the ‘temperature’ fluctuates slowly. The model generally yields a fat-tailed distribution of the price change. Specifically a Tsallis distribution is obtained if the inverse temperature is χ2-distributed, which qualitatively agrees with intraday data of foreign exchange market. The so-called ‘volatility’, a quantity indicating the risk or activity in financial markets, corresponds to the temperature of markets and its fluctuation leads to intermittency.

  7. Application of spectral methods for high-frequency financial data to quantifying states of market participants

    NASA Astrophysics Data System (ADS)

    Sato, Aki-Hiro

    2008-06-01

    Empirical analysis of the foreign exchange market is conducted based on methods to quantify similarities among multi-dimensional time series with spectral distances introduced in [A.-H. Sato, Physica A 382 (2007) 258-270]. As a result it is found that the similarities among currency pairs fluctuate with the rotation of the earth, and that the similarities among best quotation rates are associated with those among quotation frequencies. Furthermore, it is shown that the Jensen-Shannon spectral divergence is proportional to a mean of the Kullback-Leibler spectral distance both empirically and numerically. It is confirmed that these spectral distances are connected with distributions for behavioural parameters of the market participants from numerical simulation. This concludes that spectral distances of representative quantities of financial markets are related into diversification of behavioural parameters of the market participants.

  8. The scale-dependent market trend: Empirical evidences using the lagged DFA method

    NASA Astrophysics Data System (ADS)

    Li, Daye; Kou, Zhun; Sun, Qiankun

    2015-09-01

    In this paper we make an empirical research and test the efficiency of 44 important market indexes in multiple scales. A modified method based on the lagged detrended fluctuation analysis is utilized to maximize the information of long-term correlations from the non-zero lags and keep the margin of errors small when measuring the local Hurst exponent. Our empirical result illustrates that a common pattern can be found in the majority of the measured market indexes which tend to be persistent (with the local Hurst exponent > 0.5) in the small time scale, whereas it displays significant anti-persistent characteristics in large time scales. Moreover, not only the stock markets but also the foreign exchange markets share this pattern. Considering that the exchange markets are only weakly synchronized with the economic cycles, it can be concluded that the economic cycles can cause anti-persistence in the large time scale but there are also other factors at work. The empirical result supports the view that financial markets are multi-fractal and it indicates that deviations from efficiency and the type of model to describe the trend of market price are dependent on the forecasting horizon.

  9. Market review - Market values summary/October market review/current market data

    SciTech Connect

    1995-11-01

    This article is the October 1995 uranium market summary. In this reporting period, there were four transactions in the natural uranium market, no activity in the spot UF6 market, no activity in the spot conversion market, and only a single activity in the enrichment services market. Spot uranium volume dropped sharply, and active uranium supply rose. The rise in demand, however, more than offset this increase. Unrestricted exchange prices rose slightly, as did the unrestricted UF6 value. All other prices remained steady.

  10. [Healthcare marketing elements].

    PubMed

    Ameri, Cinzia; Fiorini, Fulvio

    2014-01-01

    Marketing puts its foundation on a few key concepts: need-demand, product-service, satisfaction, exchange, market, or business structure manufacturing / supply. The combination of these elements allows you to build an effective marketing strategy. Crucial in this respect is to remember the Porter matrix, which shows that for a correct analysis of the relevant market is necessary to refer to the "five forces at play", ie: customers, competitors, new entrants and substitutes threat. Another key lever for proper marketing oriented approach is the continuous and constant monitoring of the application, anticipating their dissatisfactions.

  11. 12 CFR 214.5 - Accounts with foreign banks.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... understandings with such foreign bank as may be authorized or directed by the Federal Open Market Committee in order to effectuate the conduct of open market transactions of the Federal Reserve Banks incident to the..., the Federal Open Market Committee. (c) Any Federal Reserve Bank may, when authorized or directed so...

  12. Domestic utility attitudes toward foreign uranium supply

    SciTech Connect

    Not Available

    1981-06-01

    The current embargo on the enrichment of foreign-origin uranium for use in domestic utilization facilities is scheduled to be removed in 1984. The pending removal of this embargo, complicated by a depressed worldwide market for uranium, has prompted consideration of a new or extended embargo within the US Government. As part of its on-going data collection activities, Nuclear Resources International (NRI) has surveyed 50 domestic utility/utility holding companies (representing 60 lead operator-utilities) on their foreign uranium purchase strategies and intentions. The most recent survey was conducted in early May 1981. A number of qualitative observations were made during the course of the survey. The major observations are: domestic utility views toward foreign uranium purchase are dynamic; all but three utilities had some considered foreign purchase strategy; some utilities have problems with buying foreign uranium from particular countries; an inducement is often required by some utilities to buy foreign uranium; opinions varied among utilities concerning the viability of the domestic uranium industry; and many utilities could have foreign uranium fed through their domestic uranium contracts (indirect purchases). The above observations are expanded in the final section of the report. However, it should be noted that two of the observations are particularly important and should be seriously considered in formulation of foreign uranium import restrictions. These important observations are the dynamic nature of the subject matter and the potentially large and imbalanced effect the indirect purchases could have on utility foreign uranium procurement.

  13. America's top model. As the health information exchange market heats up--with vendors jockeying for position and funds being allocated--one state is paving the way.

    PubMed

    Gamble, Kate Huvane

    2010-07-01

    As states move forward in establishing health information exchanges (HIEs), many are looking to New York State for guidance. New York, which got an early start in building a data exchange program, has been successful in securing private investments to supplement its public funds. It has also established a credible infrastructure, governance and policy framework for a statewide HIE network. However, significant hurdles to successful HIE implementation remain. One industry report cautions that policy, security, patient consent, lack of data standards and physician acceptance still need to be addressed.

  14. The Marketing of Public Library Services.

    ERIC Educational Resources Information Center

    Dragon, Andrea C.

    1983-01-01

    Defines the concept of marketing and relates models involving the exchanges and transactions of markets and charities to services offered by libraries. Market segmentation, understanding the behavior of markets, competition, and movement toward a market-oriented library are highlighted. Nineteen references are cited. (EJS)

  15. Historical market data

    SciTech Connect

    1996-08-01

    Historical financial data is provided for the uranium market in graphic and tabular form. Market data includes restricted and unrestricted uranium price ranges; exchange, transaction, uranium hexafluoride, conversion, and separative work values; and annual world uranium production and requirements. Selected historical economic indicators are listed for Australia, Canada, South Africa, and the United States. Natural uranium deliveries to the European Union and U.S. uranium marketing data are provided.

  16. Social welfare with a foreign competitor

    NASA Astrophysics Data System (ADS)

    Ferreira, Fernanda A.

    2009-11-01

    In this paper, we consider a mixed market in which a state-owned welfare-maximizing public (domestic) firm competes against a profit-maximizing private (foreign) firm. We suppose that the domestic firm is less efficient than the foreign firm. However, the domestic firm can lower its marginal costs by conducting cost-reducing R&D investment. We examine the impacts of entry of a foreign firm on decisions upon cost-reducing R&D investment by the domestic firm and how these affect the domestic welfare.

  17. 75 FR 54211 - Self-Regulatory Organizations; BATS Exchange, Inc.; NASDAQ OMX BX, Inc.; Chicago Board Options...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-09-03

    ..., Incorporated; Chicago Stock Exchange, Inc.; EDGA Exchange, Inc.; EDGX Exchange, Inc.; International Securities Exchange LLC; The NASDAQ Stock Market LLC; National Stock Exchange, Inc.; New York Stock Exchange LLC; NYSE... (``CBOE''), Chicago Stock Exchange, Inc. (``CHX''), EDGA Exchange, Inc. (``EDGA''), EDGX Exchange,...

  18. The internalist perspective on inevitable arbitrage in financial markets

    NASA Astrophysics Data System (ADS)

    Matsuno, Koichiro

    2003-06-01

    Arbitrage as an inevitable component of financial markets is due to the robust interplay between the continuous and the discontinuous stochastic variables appearing in the underlying dynamics. We present empirical evidence of such an arbitrage through the laboratory experiment on a portfolio management in the Japan-United States financial markets over the last several years, under the condition that the asset allocation was updated every day over the entire period. The portfolio management addressing the foreign exchange, the stock, and the bond markets was accomplished as referring to and processing only those empirical data that have been complied by and made available from the monetary authorities and the relevant financial markets so far. The averaged annual yield of the portfolio counted in the denomination of US currency was slightly greater than the averaged yield of the same physical assets counted in the denomination of Japanese currency, indicating the occurrence of arbitrage pricing in the financial markets. Daily update of asset allocation was conducted as referring to the predictive movement internal to the dynamics such that monetary flow variables, that are discontinuously stochastic upon the act of measurement internal to the markets, generate monetary stock variables that turn out to be both continuously stochastic and robust in the effect.

  19. 22 CFR 22.4 - Requests for services, Foreign Service.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... definition of representative value in exchange, see § 23.4 of this chapter. No fees named in this schedule... conspicuous place in each Foreign Service consular office, subject to the examination by all...

  20. 17 CFR 232.306 - Foreign language documents and symbols.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 17 Commodity and Securities Exchanges 2 2012-04-01 2012-04-01 false Foreign language documents and... § 232.306 Foreign language documents and symbols. (a) All electronic filings and submissions must be in the English language, except as otherwise provided by paragraph (d) of this section. If a filing...

  1. 17 CFR 232.306 - Foreign language documents and symbols.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 17 Commodity and Securities Exchanges 2 2013-04-01 2013-04-01 false Foreign language documents and... § 232.306 Foreign language documents and symbols. (a) All electronic filings and submissions must be in the English language, except as otherwise provided by paragraph (d) of this section. If a filing...

  2. 17 CFR 232.306 - Foreign language documents and symbols.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 17 Commodity and Securities Exchanges 3 2014-04-01 2014-04-01 false Foreign language documents and... § 232.306 Foreign language documents and symbols. (a) All electronic filings and submissions must be in the English language, except as otherwise provided by paragraph (d) of this section. If a filing...

  3. High-level manpower movement and Japan's foreign aid.

    PubMed

    Furuya, K

    1992-01-01

    "Japan's technical assistance programs to Asian countries are summarized. Movements of high-level manpower accompanying direct foreign investments by private enterprise are also reviewed. Proposals for increased human resources development include education and training of foreigners in Japan as well as the training of Japanese aid experts and the development of networks for information exchange."

  4. Making Virtual Exchange/Telecollaboration Mainstream--Large Scale Exchanges

    ERIC Educational Resources Information Center

    Hagley, Eric

    2016-01-01

    Language educators' goals include promoting cultural understanding and improving the language skills of their students. Virtual Exchange (VE) is a powerful means to do this. Students in English as a Foreign Language (EFL) classrooms often have few opportunities to communicate with other users of English. VE gives them virtual mobility, enabling…

  5. Homecare marketing and product management.

    PubMed

    Wells, J B

    1985-09-01

    Entirely too much lip service is paid to marketing and product management in the health sector with too little action. Home health to one degree or another is guilty of this. Successful home health organizations will capitalize on the power of traditional marketing and product management approaches. Product, pricing, packaging, position, and penetration may be foreign concepts. But marketing is built on these concepts and they are key to product definition and management.

  6. Profiles of foreign direct investment in US energy, 1992

    SciTech Connect

    Not Available

    1994-05-16

    The report reviews the patterns of foreign ownership interest in US energy enterprises, exclusive of portfolio investment (<10% ownership of a US enterprise). It profiles the involvement of foreign-affiliated US companies in the following areas: domestic petroleum production (including natural gas), reserve holdings, refining and marketing activities, coal production, and uranium exploration and development.

  7. Legal Exchange: Necessity and Opportunity

    ERIC Educational Resources Information Center

    Norberg, Charles R.

    1975-01-01

    The International Legal Exchange Program (ILEP) arranges for lawyers from the U.S. or foreign countries to have several months of training in countries different from their own. The program offers an opportunity to strengthen world order under law through better understanding. (Author/PG)

  8. 22 CFR 120.37 - Foreign ownership and foreign control.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 22 Foreign Relations 1 2014-04-01 2014-04-01 false Foreign ownership and foreign control. 120.37 Section 120.37 Foreign Relations DEPARTMENT OF STATE INTERNATIONAL TRAFFIC IN ARMS REGULATIONS PURPOSE AND DEFINITIONS § 120.37 Foreign ownership and foreign control. Foreign ownership means more than 50 percent...

  9. 22 CFR 120.37 - Foreign ownership and foreign control.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 22 Foreign Relations 1 2012-04-01 2012-04-01 false Foreign ownership and foreign control. 120.37 Section 120.37 Foreign Relations DEPARTMENT OF STATE INTERNATIONAL TRAFFIC IN ARMS REGULATIONS PURPOSE AND DEFINITIONS § 120.37 Foreign ownership and foreign control. Foreign ownership means more than 50 percent...

  10. 22 CFR 120.37 - Foreign ownership and foreign control.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 22 Foreign Relations 1 2013-04-01 2013-04-01 false Foreign ownership and foreign control. 120.37 Section 120.37 Foreign Relations DEPARTMENT OF STATE INTERNATIONAL TRAFFIC IN ARMS REGULATIONS PURPOSE AND DEFINITIONS § 120.37 Foreign ownership and foreign control. Foreign ownership means more than 50 percent...

  11. 22 CFR Appendix C to Part 62 - Update of Information on Exchange-Visitor Program Sponsor

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Update of Information on Exchange-Visitor Program Sponsor C Appendix C to Part 62 Foreign Relations DEPARTMENT OF STATE PUBLIC DIPLOMACY AND EXCHANGES EXCHANGE VISITOR PROGRAM Pt. 62, App. C Appendix C to Part 62—Update of Information on...

  12. 22 CFR Appendix C to Part 62 - Update of Information on Exchange-Visitor Program Sponsor

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 22 Foreign Relations 1 2011-04-01 2011-04-01 false Update of Information on Exchange-Visitor Program Sponsor C Appendix C to Part 62 Foreign Relations DEPARTMENT OF STATE PUBLIC DIPLOMACY AND EXCHANGES EXCHANGE VISITOR PROGRAM Pt. 62, App. C Appendix C to Part 62—Update of Information on...

  13. Secondary School Student Exchanges. Discussion Paper

    ERIC Educational Resources Information Center

    US Department of State, 2007

    2007-01-01

    Educational and cultural exchanges are the cornerstone of U.S. public diplomacy and an integral component of foreign policy. To further this policy objective, the Department of State designates U.S. government, academic, and private sector entities to conduct educational and cultural exchange programs pursuant to a broad grant of authority from…

  14. 22 CFR 63.4 - Grants to foreign participants to lecture, teach, and engage in research.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ..., teach, and engage in research. 63.4 Section 63.4 Foreign Relations DEPARTMENT OF STATE PUBLIC DIPLOMACY... EXCHANGE PROGRAM § 63.4 Grants to foreign participants to lecture, teach, and engage in research. A citizen or national of a foreign country who has been awarded a grant to lecture, teach, and engage...

  15. 22 CFR 63.4 - Grants to foreign participants to lecture, teach, and engage in research.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ..., teach, and engage in research. 63.4 Section 63.4 Foreign Relations DEPARTMENT OF STATE PUBLIC DIPLOMACY... EXCHANGE PROGRAM § 63.4 Grants to foreign participants to lecture, teach, and engage in research. A citizen or national of a foreign country who has been awarded a grant to lecture, teach, and engage...

  16. The Migration of Foreign Students to Russia

    ERIC Educational Resources Information Center

    Pis'mennaia, E. E.

    2010-01-01

    According to forecasts, the competitive struggle on the worldwide scale to attract foreign students is going to get more intense, as many countries see students as the most desirable category of migrants. The world market of educational services has been estimated at $50-60 billion. The economically developed countries, such as the United States,…

  17. 77 FR 37947 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-06-25

    ... Foreign Currency Options June 19, 2012. Pursuant to Section 19(b)(1) of the Securities Exchange Act of... is proposing to extend for an additional year the fee discount for large-sized foreign currency...

  18. 77 FR 31411 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-05-25

    ... for Certain Foreign Currency Options Traded on the Exchange and To Make a Technical Change to the... terminate a pilot program related to an incentive plan for certain Foreign Currency (``FX'') options...

  19. 17 CFR 30.12 - Direct foreign order transmittal.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 17 Commodity and Securities Exchanges 1 2011-04-01 2011-04-01 false Direct foreign order transmittal. 30.12 Section 30.12 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION... trading advisor subject to regulation under the Act, including any investment adviser registered as...

  20. 17 CFR 30.12 - Direct foreign order transmittal.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 17 Commodity and Securities Exchanges 1 2014-04-01 2014-04-01 false Direct foreign order transmittal. 30.12 Section 30.12 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION... trading advisor subject to regulation under the Act, including any investment adviser registered as...

  1. 17 CFR 30.12 - Direct foreign order transmittal.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 17 Commodity and Securities Exchanges 1 2012-04-01 2012-04-01 false Direct foreign order transmittal. 30.12 Section 30.12 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION... trading advisor subject to regulation under the Act, including any investment adviser registered as...

  2. 76 FR 12022 - Foreign-Trade Zone 230-Greensboro, NC; Application for Subzone; VF Jeanswear (Apparel...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-03-04

    ... (Apparel Distribution); Mocksville, NC An application has been submitted to the Foreign-Trade Zones Board... warehousing and distribution of foreign-origin apparel (duty rates 16.6%-28.6%) for the U.S. market and export... could exempt VF Jeanswear from customs duty payments on foreign apparel that is exported (about 1%...

  3. 78 FR 23806 - Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-22

    ... Rule 100. Marketing Fee Currently, the Exchange assesses a Marketing Fee to all Market Makers for... Customer. The Exchange proposes assessing a Marketing Fee for applicable transactions in Mini Options and... comparison of the Marketing Fees for standard options and to the proposed fees for Mini Options: Amount...

  4. 7 CFR 30.44 - Class 9; foreign-grown types other than cigar leaf.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ....44 Section 30.44 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing Practices), DEPARTMENT OF AGRICULTURE COMMODITY STANDARDS AND... tobacco. (d) Type 95. Foreign-grown dark air-cured. (e) Type 96. Foreign-grown fire-cured. (f) Type...

  5. Exchange Programs. Observations on International Educational, Cultural, and Training Exchange Programs. Testimony before the Subcommittee on International Operations, Committee on Foreign Affairs, House of Representatives. Statement of Joseph E. Kelley, Director-in-Charge, International Affairs Issues, National Security and International Affairs Division.

    ERIC Educational Resources Information Center

    Kelley, Joseph E.

    This document reports testimony at a Congressional hearing held to elicit information on international exchange programs. The testimony describes the international exchange and training or cultural programs funded partially or fully by the U.S. Government, using the 1990 report of the U.S. Information Agency (USIA). The information survey included…

  6. Exchange of natural enemies for biological control: is it a rocky road?-the road in the Euro-Mediterranean region and the South American common market.

    PubMed

    Coutinot, D; Briano, J; Parra, J R P; de Sá, L A N; Cônsoli, F L

    2013-02-01

    The access and benefit sharing (ABS) regulations from the Convention on Biological Diversity (CBD) for the use of natural resources became an important issue because the biodiversity of developing countries was heavily accessed and unilaterally exploited by pharmaceutical and seed companies. However, natural enemies used for biological control are living and unmodified genetic resources which cannot be patented and have been treated as resources such as drugs, seeds, or other commercial products. Consequently, the ABS requirements have limited not only the use of natural enemies but also the positive effects that scientifically supported biological control strategies have on the society, the environment, and the economy, reducing problems of pesticide residues, water and soil contamination, and non-target effects. During the last several years, the biological control scientific community has faced new and extremely complicated legislation dictated by a high and diverse number of governmental agencies at different levels, making the access to natural resources for biocontrol purposes a rocky road. Society at large should be aware of how the strict ABS regulations affect the use of natural enemies as biological resources to secure food production, food safety, and global environmental protection. We discuss in here the current difficulties derived from CBD for the exchange of natural enemies taking as example the Euro-Mediterranean region, Argentina, and Brazil to demonstrate how long and diverse are the steps to be followed to obtain the required permits for access and exportation/importation of natural enemies. We then argue that the public visibility of biocontrol strategies should be increased and their benefits highlighted in order to persuade legislators for the development of a less bureaucratic, more expedient, and more centralized regulatory frame, greatly favoring the practice and benefits of biological control. We finally propose a general framework in

  7. 77 FR 67431 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-09

    ... that are reasonably related to the value to the Exchange's market quality associated with higher... the value to the Exchange's market quality associated with higher volumes. The Exchange believes the... provides discounts that are reasonably related to the value to the Exchange's market quality...

  8. Cryptographic Combinatorial Securities Exchanges

    NASA Astrophysics Data System (ADS)

    Thorpe, Christopher; Parkes, David C.

    We present a useful new mechanism that facilitates the atomic exchange of many large baskets of securities in a combinatorial exchange. Cryptography prevents information about the securities in the baskets from being exploited, enhancing trust. Our exchange offers institutions who wish to trade large positions a new alternative to existing methods of block trading: they can reduce transaction costs by taking advantage of other institutions’ available liquidity, while third party liquidity providers guarantee execution—preserving their desired portfolio composition at all times. In our exchange, institutions submit encrypted orders which are crossed, leaving a “remainder”. The exchange proves facts about the portfolio risk of this remainder to third party liquidity providers without revealing the securities in the remainder, the knowledge of which could also be exploited. The third parties learn either (depending on the setting) the portfolio risk parameters of the remainder itself, or how their own portfolio risk would change if they were to incorporate the remainder into a portfolio they submit. In one setting, these third parties submit bids on the commission, and the winner supplies necessary liquidity for the entire exchange to clear. This guaranteed clearing, coupled with external price discovery from the primary markets for the securities, sidesteps difficult combinatorial optimization problems. This latter method of proving how taking on the remainder would change risk parameters of one’s own portfolio, without revealing the remainder’s contents or its own risk parameters, is a useful protocol of independent interest.

  9. 75 FR 8158 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-02-23

    ... releases quarterly Gross Domestic Product data at 8:30 a.m. Eastern time. Similarly, Statistics Canada... foreign exchange derivative products at those two exchanges. ISE believes amending its rule to allow...

  10. Social Marketing Traction: A Practical Resource Book for Social Marketing.

    ERIC Educational Resources Information Center

    Hanlon, Eileen; Lane, Amy; Romano, Rose Mary

    This book is about understanding people's behavior and changing that behavior using a discipline called "social marketing." It is based on the idea that all marketing is an exchange: if you want people to change their behavior, you have to offer them something, be it security, information, an image, or a feeling of belonging. The book…

  11. Medical device market in China.

    PubMed

    Boyer, Philip; Morshed, Bashir I; Mussivand, Tofy

    2015-06-01

    With China's growing old-age population and economic presence on the international stage, it has become important to evaluate its domestic and foreign market contribution to medical devices. Medical devices are instruments or apparatuses used in the prevention, rehabilitation, treatment, or knowledge generation with respect to disease or other abnormal conditions. This article provides information drawn from recent publications to describe the current state of the Chinese domestic market for medical devices and to define opportunities for foreign investment potential therein. Recent healthcare reforms implemented to meet rising demand due to an aging and migrating population are having a positive effect on market growth-a global market with a projected growth of 15% per year over the next decade.

  12. [Selective internationalization: foreign workers and Japanese society].

    PubMed

    Ito, R

    1990-01-01

    Japan's December 1989 revision of the law on immigration and recognition of refugees was intended to provide greater felxibility for employment of foreigners with specialized skills or professional qualifications while excluding migrant workers. This policy, referred to as selective internationalization by the author, represents an effort by the government to early 1980s and to changes in the Japanese economy which after decades of rapid growth is entering a new phase of diversification. The ideal of national homogeneity has prevented formulation of any coherent policy of integrating Japan's foreign born population, mostly descendents of laborers from Japan's former colonies. In 1988, Japan's 677,000 Korean residents constituted 72% of the foreign population registered in Japan. As of 1988, some 40,000 foreigners were registered as residents and permitted to work in any of several well-defined areas. The number, while small, is growing. Illegal migrants are defined essentially as foreigners exercising economic activities not authorized by their visas. The number of such workers is notoriously difficult to estimate, but the number of expulsions for labor violations increased by 4700 in 1989 to 22,600, suggesting that the problem is growing. The Ministry of Justice estimated the number of foreigners in irregular situations at 70,000 in 1988, and it has probably reached 120,000 at present. The number of foreign workers, authorized or not, is estimated at 150-160,000 or .3% of the active population. The 1989 revision of the immigration law does not constitute a foreign labor policy, but it does clearly signal the end of complete protectionism vis a vis the labor market which characterized Japan's period of rapid growth. Internationalization of the labor market reflects 2 concerns, provision of highly qualified employees to enable large enterprises to adapt more readily to changing international conditions, and continued control over the foreign labor supply of small

  13. Livestock Marketing.

    ERIC Educational Resources Information Center

    Futrell, Gene; And Others

    This marketing unit focuses on the seasonal and cyclical patterns of livestock markets. Cash marketing, forward contracting, hedging in the futures markets, and the options markets are examined. Examples illustrate how each marketing tool may be useful in gaining a profit on livestock and cutting risk exposure. The unit is organized in the…

  14. A California generation capacity market

    SciTech Connect

    Conkling, R.L.

    1998-10-01

    California, overconfident with its new Power Exchange spot market, seems unaware that it could be afflicted by the same turmoil that bludgeoned the Midwest in June. An electricity capacity market should be put in place before crisis strikes. This article outlines a framework for adding an electricity capacity market in California. The new market would not create a new bureaucracy but would function within the state`s now operational PX and independent system operator (ISO) mechanisms. It would be an open market, in which capacity would be traded transparently, with freedom of entree for all willing sellers and all willing buyers.

  15. 77 FR 40109 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-06

    ..., and perfect the mechanism of, a free and open market and a national market system. The Exchange... COMMISSION Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness... Proposed Rule Change The Exchange filed a proposal for the BATS Options Market (``BATS Options'') to...

  16. All-Round Marketing Increases Hospital Popularity.

    PubMed

    Ziqi, Tao

    2015-06-01

    Xuzhou Center Hospital is in a competing medical market in Xuzhou city. This hospital has been dedicating to improve the medical skills and provide professional and individualized service to the patients in order to improve the patient's experience and increase the patient's satisfaction. On the other side, this hospital has provided an all-round marketing campaign to build up the social influence and public reputation through public-praise marketing, web marketing, media marketing, and scholar marketing. Besides, this hospital has been cooperating with foreign medical institutions and inviting foreign medical specialists to academic communication. With the combined effects of improving medical service and all-round marketing, the hospital's economic performance has been enhanced significantly and laid a solid foundation for its ambition to become the first-class hospital in Huaihai Economic Zone.

  17. 17 CFR 38.157 - Real-time market monitoring.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 17 Commodity and Securities Exchanges 1 2014-04-01 2014-04-01 false Real-time market monitoring... DESIGNATED CONTRACT MARKETS Compliance With Rules § 38.157 Real-time market monitoring. A designated contract market must conduct real-time market monitoring of all trading activity on its electronic...

  18. 17 CFR 38.157 - Real-time market monitoring.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 17 Commodity and Securities Exchanges 1 2013-04-01 2013-04-01 false Real-time market monitoring... DESIGNATED CONTRACT MARKETS Compliance With Rules § 38.157 Real-time market monitoring. A designated contract market must conduct real-time market monitoring of all trading activity on its electronic...

  19. 75 FR 6753 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated, International...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-02-10

    ... the Exchange. Also, the Exchange may obtain information from the New York Mercantile Exchange, Inc... and a national market system and, in general, to protect investors and the public interest....

  20. 77 FR 23788 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-04-20

    ... Services LLC (``NOS''), a member of the Exchange, is the Exchange's exclusive order router. Each time NOS... Exchange's exclusive order router; the Exchange's membership fees at away markets; and technical...

  1. 77 FR 47479 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-08

    ... assure fair competition among brokers and dealers and among exchange markets. The Exchange believes that... Exchange additional time to further evaluate the Pilot's effect on the market. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule...

  2. 17 CFR 240.3a68-5 - Regulation of certain futures contracts on foreign sovereign debt.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... contracts on foreign sovereign debt. 240.3a68-5 Section 240.3a68-5 Commodity and Securities Exchanges... § 240.3a68-5 Regulation of certain futures contracts on foreign sovereign debt. The term security-based..., contract, or transaction that is based on or references a qualifying foreign futures contract (as...

  3. 17 CFR 240.3a68-5 - Regulation of certain futures contracts on foreign sovereign debt.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... contracts on foreign sovereign debt. 240.3a68-5 Section 240.3a68-5 Commodity and Securities Exchanges... § 240.3a68-5 Regulation of certain futures contracts on foreign sovereign debt. The term security-based..., contract, or transaction that is based on or references a qualifying foreign futures contract (as...

  4. International Collusive Action in World Markets for Nonfuel Minerals: Market Structure and Methods of Marketing Control.

    DTIC Science & Technology

    1974-07-25

    effect in taxation is evident in the international nonfuel mining industry as well as in petroleum. Also, governments have acquired sufficient control...urgently in need of foreign exchange income. Third, the high overhead costs in the mining industry and the large debt service constrain producing countries

  5. An investigation of Forex market efficiency based on detrended fluctuation analysis: A case study for Iran

    NASA Astrophysics Data System (ADS)

    Abounoori, Esmaiel; Shahrazi, Mahdi; Rasekhi, Saeed

    2012-06-01

    The efficient market hypothesis (EMH) states that asset prices fully reflect all available information. As a result, speculators cannot predict the future behavior of asset prices and earn excess profits at least after adjusting for risk. Although initial tests of the EMH were performed on stock market data, the EMH was soon applied to other markets including foreign exchange (FX). This study uses the detrended fluctuation analysis (DFA) technique to test 01:12:2005-18:04:2010 Iranian Rial/US Dollar exchange rate time series data to see if it can be explained by the weak form of the EMH. Moreover, to determine changes in the degree of inefficiency over time, the whole period has been divided into four subperiods. The study shows that the Iranian Forex market (the Rial/Dollar case) is weak-form inefficient over the whole period and in each of the subperiods. However, the degree of inefficiency is not constant over time. The findings suggest that profitable risk-adjusted trades could be made using past data.

  6. [Foreign immigration in Spain (1985-1994)].

    PubMed

    Gozalvez Perez, V

    1996-01-01

    "During the decade 1985-94, Spain [has had]...some growing and unexpected flows of foreign immigrations. The tradition of emigration of Spanish people, some grave difficulties of [the] employment market in the country, irregular entrance of workers from developing countries, the fear of a very rapid growth of these immigrants, the instability and marginality of their work, and the agreement of Spain in the European Union have led the government to develop an active migratory policy, first against the illegal flows and, more recently, in direction of the integration of immigrants in Spanish society.... The article analyzes main features from some different groups of foreign workers, and in particular Africans: spatial repartition, demographic profile, migratory strategies and trajectories, uneasy insertion in the national employment market, and draws lastly the main features of the Spanish migratory policy." (SUMMARY IN ENG AND SPA)

  7. 78 FR 15800 - 30-Day Notice of Proposed Information Collection: Exchange Student Survey

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-12

    ... Notice of Proposed Information Collection: Exchange Student Survey ACTION: Notice of request for public... INFORMATION: Title of Information Collection: ECA Exchange Student Surveys. OMB Control Number: none. Type of...: SV2012-0007 (Foreign Exchange students) and SV2012-0010 (U.S. Exchange students). Respondents:...

  8. 77 FR 67032 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-08

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE... Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend its marketing fee. The marketing fee is assessed on certain transactions of Market-Makers, Designated Primary Market-Makers...

  9. 76 FR 61438 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-10-04

    ... Exchange, other equities, options, and futures markets, and FINRA propose to amend the market-wide circuit... extraordinary market volatility. The Exchange is proposing this rule change in consultation with other equity, options and futures markets, the Financial Industry Regulatory Authority, Inc. (``FINRA'') and staffs...

  10. 76 FR 38243 - Self-Regulatory Organizations; BATS Exchange, Inc.; BATS Y-Exchange, Inc.; NASDAQ OMX BX, Inc...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-06-29

    ... free and open market and a national market system, and in general, to protect investors and the public... NASDAQ Stock Market LLC; New York Stock Exchange LLC; NYSE Amex LLC; NYSE Arca, Inc.; National Stock... Rule for Trading Pauses Due to Extraordinary Market Volatility to All NMS Stocks June 23, 2011....

  11. The health of foreign workers in Italy.

    PubMed

    Capacci, Fabio; Carnevale, Francesco; Gazzano, Noel

    2005-01-01

    At the beginning of 2002, there were 1,600,000 foreign-born persons living in Italy; the majority from countries outside Europe. Those residing in the country for working purposes were 800,680. Italy's shift to a tertiary and service-oriented economy has considerably modified the working market, concentrating demand at two extremes: on one hand, a highly specialized workforce, and on the other, a totally unqualified, mobile, and flexible one, which includes most immigrants.

  12. The Market and Vocational Education.

    ERIC Educational Resources Information Center

    Peregudov, F. I.

    1992-01-01

    Examines needed changes in vocational education in former Soviet Union as the nation shifts to a market economy. Suggests that there should be more emphasis on individual student needs. Argues that vocational education must include training in information sciences, computers, foreign languages, social psychology, and urban ecology. Recommends…

  13. Where do Foreign Student STEM graduates work after they graduate?

    NASA Astrophysics Data System (ADS)

    Ruiz, Neil

    2017-01-01

    Foreign students and entrepreneurs add path-breaking innovative ideas and billions of dollars to the United States economy. This presentation takes a look at where foreign students originate, what degrees and subjects they are pursuing in the U.S., and where they work after they graduate from U.S. universities. With a special focus on STEM degrees and physics, Dr. Ruiz will show how foreign students open up markets in their hometown cities which facilitates trade, foreign direct investment and knowledge transfer. In addition, they infuse revenue into local communities, and they help fill demand for jobs requiring specific skills in local U.S. labor markets. He argues that America's business, educational, and community leaders need to develop better strategies that retain their talents after they graduate. Invited speaker number 44869.

  14. Living the Language: International Exchanges for 5th Graders

    ERIC Educational Resources Information Center

    Wood, Emily

    2006-01-01

    The American Council on Teaching of Foreign Languages (ACTFL) annually presents the Melba Woodruff Award to an exemplary foreign language program in the nation. This year at the ACTFL conference in Baltimore, MD, the Eisenhower International School received this award for its outstanding immersion programs. International student exchanges at the…

  15. 47 CFR 69.156 - Marketing expenses.

    Code of Federal Regulations, 2010 CFR

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Marketing expenses. 69.156 Section 69.156... Computation of Charges for Price Cap Local Exchange Carriers § 69.156 Marketing expenses. Effective July 1, 2000, the marketing expenses formerly allocated to the common line and traffic sensitive baskets,...

  16. 47 CFR 69.156 - Marketing expenses.

    Code of Federal Regulations, 2011 CFR

    2011-10-01

    ... 47 Telecommunication 3 2011-10-01 2011-10-01 false Marketing expenses. 69.156 Section 69.156... Computation of Charges for Price Cap Local Exchange Carriers § 69.156 Marketing expenses. Effective July 1, 2000, the marketing expenses formerly allocated to the common line and traffic sensitive baskets,...

  17. 47 CFR 69.156 - Marketing expenses.

    Code of Federal Regulations, 2013 CFR

    2013-10-01

    ... 47 Telecommunication 3 2013-10-01 2013-10-01 false Marketing expenses. 69.156 Section 69.156... Computation of Charges for Price Cap Local Exchange Carriers § 69.156 Marketing expenses. Effective July 1, 2000, the marketing expenses formerly allocated to the common line and traffic sensitive baskets,...

  18. 47 CFR 69.156 - Marketing expenses.

    Code of Federal Regulations, 2014 CFR

    2014-10-01

    ... 47 Telecommunication 3 2014-10-01 2014-10-01 false Marketing expenses. 69.156 Section 69.156... Computation of Charges for Price Cap Local Exchange Carriers § 69.156 Marketing expenses. Effective July 1, 2000, the marketing expenses formerly allocated to the common line and traffic sensitive baskets,...

  19. 47 CFR 69.156 - Marketing expenses.

    Code of Federal Regulations, 2012 CFR

    2012-10-01

    ... 47 Telecommunication 3 2012-10-01 2012-10-01 false Marketing expenses. 69.156 Section 69.156... Computation of Charges for Price Cap Local Exchange Carriers § 69.156 Marketing expenses. Effective July 1, 2000, the marketing expenses formerly allocated to the common line and traffic sensitive baskets,...

  20. 76 FR 38434 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-06-30

    ... Foreign Currency Options June 24, 2011. Pursuant to Section 19(b)(1) of the Securities Exchange Act of... Change The ISE is proposing to extend for an additional year the fee discount for large-sized foreign currency (``FX'') option orders. The text of the proposed rule change is available on the Exchange's...

  1. The Effects of a Virtual Exchange on Language Skills and Intercultural Competence

    ERIC Educational Resources Information Center

    Schenker, Theresa

    2012-01-01

    This dissertation explores the effects of a cross-cultural, cross-lingual virtual exchange on students' foreign language skills and intercultural competence. Specifically, the dissertation investigates the effects of students' participation in a twelve-week telecollaborative exchange on their use of syntactic complexity in foreign language writing…

  2. The Influence of Faculty Exchange Programs on Faculty Members' Professional Development

    ERIC Educational Resources Information Center

    Alkarzon, Awni

    2016-01-01

    This paper addresses the problems facing faculty members, who made short-term international exchange programs in foreign countries; in their attempts to internationalize the campus through teaching, research, and service. Some faculty members who participated in foreign exchange programs try to infuse their international experience through…

  3. Foreign Language Reading Anxiety.

    ERIC Educational Resources Information Center

    Saito, Yoshiko; Horwitz, Elaine K.; Garza, Thomas J.

    1999-01-01

    Discusses the possibility of anxiety in response to foreign- or second-language reading. Introduces the construct of foreign-language reading anxiety, offers a scale for its measurement, and reports on a preliminary study of reading anxiety in 30 intact first-semester classes of Spanish, Russian, and Japanese. (VWL)

  4. Foreign Languages and Careers

    ERIC Educational Resources Information Center

    Honig, Lucille J.; Brod, Richard I.

    1974-01-01

    Gives employment opportunity information in the following fields where foreign language can be used as an auxiliary skill: 1) Business, Industry, Commerce; 2) Civil Service; 3) Education; 4) Law; 5) Library Science; 6) Media; 7) Science; 8) Service; 9) Social Sciences; 10) Travel, Tourism. The fields of foreign language teaching and interpretation…

  5. WHAT ABOUT FOREIGN LANGUAGES.

    ERIC Educational Resources Information Center

    GARTNER, JUDITH; AND OTHERS

    THE IMPORTANCE OF LEARNING A FOREIGN LANGUAGE IS STRESSED IN A BRIEF BROCHURE DESIGNED FOR STUDENTS OF ALL LEVELS, PARENTS, TEACHERS, COUNSELORS, AND ADMINISTRATORS. INFORMATION IS GIVEN ON WHEN TO BEGIN A LANGUAGE, THE IMPORTANCE OF BEING ABLE TO SPEAK A LANGUAGE, USES FOR A FOREIGN LANGUAGE AT HOME, LANGUAGE JOB OPPORTUNITIES, AND LANGUAGE…

  6. Foreign Body Retrieval

    MedlinePlus Videos and Cool Tools

    ... ensure that no foreign bodies remain in the body and to check for the presence of any side effects such as infection. top of page What are the benefits vs. risks? Benefits Removal of a foreign body will reduce your chances of suffering an infection ...

  7. [Foreign immigration in Spain].

    PubMed

    Serra Yoldi, I

    1997-01-01

    This article, translated from the original Spanish, analyzes recent trends in immigration to Spain. Information is provided on annual totals of immigrants and emigrants, 1976-1991; resident foreigners by nationality, 1990-1994; resident foreigners by province and continent of origin, 1991; occupations of immigrants, 1990-1991; migrant characteristics; attitudes toward immigration; and assimilation of immigrants.

  8. 26 CFR 1.954-8 - Foreign base company oil related income.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... primary product. (2) Marketing income described in section 907(c)(2)(C). With regard to a controlled foreign corporation's marketing income from the distribution or sale of minerals extracted from oil or gas... for purposes of determining the part of the marketing income that qualifies for the...

  9. The art of designing markets.

    PubMed

    Roth, Alvin E

    2007-10-01

    Traditionally, markets have been viewed as simply the confluence of supply and demand. But to function properly, they must be able to attract a sufficient number of buyers and sellers, induce participants to make their preferences clear, and overcome congestion by providing both enough time to make choices and a speedy means of registering them. Solutions to these challenges are the province of market design--a blend of game theory and experimental economics. Roth, a professor of both business and economics at Harvard, is a leading market designer. He and his colleagues have rescued failing markets by, for example, designing labor clearinghouses through which U.S. doctors get their first jobs and auctions through which the Federal Communications Commission sells licenses for parts of the radio broadcast spectrum. They have also created marketlike allocation procedures that involve neither prices nor an exchange of money; these include systems for assigning children to schools in Boston and New York and for facilitating exchanges of kidneys. Computers enable the design of "smart markets" that combine the inputs of users in complex ways: In kidney exchange, they run through every possible match of donors and recipients to arrange the greatest possible number of transplants. In the future, computers may make it possible to auction bundled goods, such as airport takeoff and landing slots. As online markets--like those for jobs and dating--proliferate, a growing understanding of markets in general will provide virtually limitless opportunities for market design.

  10. 75 FR 6248 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-02-08

    ... Immediate Effectiveness of Proposed Rule Change Relating to Foreign Currency Options February 1, 2010... is proposing to amend its incentive plan for market makers in a newly listed foreign currency option and to establish fees for transactions in the newly listed foreign currency option. The text of...

  11. Exchange Network

    EPA Pesticide Factsheets

    The Environmental Information Exchange Network (EIEN) is an Internet-based system used by state, tribal and territorial partners to securely share environmental and health information with one another and EPA.

  12. Gas exchange

    MedlinePlus Videos and Cool Tools

    ... during exhalation. Gas exchange is the delivery of oxygen from the lungs to the bloodstream, and the ... share a membrane with the capillaries in which oxygen and carbon dioxide move freely between the respiratory ...

  13. [Foreign Body in Esophagus].

    PubMed

    Domeki, Yasushi; Kato, Hiroyuki

    2015-07-01

    An esophageal foreign body is the term for a foreign body in the esophagus. The 2 age groups most prone to this condition are children age 9 and under (and especially toddlers age 4 and under) and elderly individuals age 70 and over. A foreign body often lodges where the esophagus is most constricted. In toddlers, the foreign body is often currency or coins or a toy. In adults, the body is often a piece of fish, dentures, a piece of meat, a pin or needle, or a drug in its blister pack packaging. In children, an esophageal foreign body is treated by fluoroscopically guided removal of the body with a balloon catheter or magnetic catheter or removal of the body via endoscopy or direct esophagoscopy under general anesthesia. In adults, the best choice for treating an esophageal foreign body is removing the body with an endoscope but there are instances where surgery is performed because the body is hard to remove endoscopically, a puncture has occurred, or empyema or mediastinitis has developed. This paper reviews the diagnosis and treatment of an esophageal foreign body.

  14. HEAT EXCHANGER

    DOEpatents

    Fox, T.H. III; Richey, T. Jr.; Winders, G.R.

    1962-10-23

    A heat exchanger is designed for use in the transfer of heat between a radioactive fiuid and a non-radioactive fiuid. The exchanger employs a removable section containing the non-hazardous fluid extending into the section designed to contain the radioactive fluid. The removable section is provided with a construction to cancel out thermal stresses. The stationary section is pressurized to prevent leakage of the radioactive fiuid and to maintain a safe, desirable level for this fiuid. (AEC)

  15. Foreign currency rate forecasting using neural networks

    NASA Astrophysics Data System (ADS)

    Pandya, Abhijit S.; Kondo, Tadashi; Talati, Amit; Jayadevappa, Suryaprasad

    2000-03-01

    Neural networks are increasingly being used as a forecasting tool in many forecasting problems. This paper discusses the application of neural networks in predicting daily foreign exchange rates between the USD, GBP as well as DEM. We approach the problem from a time-series analysis framework - where future exchange rates are forecasted solely using past exchange rates. This relies on the belief that the past prices and future prices are very close related, and interdependent. We present the result of training a neural network with historical USD-GBP data. The methodology used in explained, as well as the training process. We discuss the selection of inputs to the network, and present a comparison of using the actual exchange rates and the exchange rate differences as inputs. Price and rate differences are the preferred way of training neural network in financial applications. Results of both approaches are present together for comparison. We show that the network is able to learn the trends in the exchange rate movements correctly, and present the results of the prediction over several periods of time.

  16. 32 CFR 536.143 - Settlement authority of Foreign Claims Commissions.

    Code of Federal Regulations, 2013 CFR

    2013-07-01

    .... dollar equivalent (based on the annual Foreign Currency Fluctuation Account exchange rate, where applicable). However, the FCC's jurisdiction to approve is determined by the conversion rate on the date...

  17. 32 CFR 536.143 - Settlement authority of Foreign Claims Commissions.

    Code of Federal Regulations, 2012 CFR

    2012-07-01

    .... dollar equivalent (based on the annual Foreign Currency Fluctuation Account exchange rate, where applicable). However, the FCC's jurisdiction to approve is determined by the conversion rate on the date...

  18. 32 CFR 536.143 - Settlement authority of Foreign Claims Commissions.

    Code of Federal Regulations, 2014 CFR

    2014-07-01

    .... dollar equivalent (based on the annual Foreign Currency Fluctuation Account exchange rate, where applicable). However, the FCC's jurisdiction to approve is determined by the conversion rate on the date...

  19. 32 CFR 536.143 - Settlement authority of Foreign Claims Commissions.

    Code of Federal Regulations, 2010 CFR

    2010-07-01

    .... dollar equivalent (based on the annual Foreign Currency Fluctuation Account exchange rate, where applicable). However, the FCC's jurisdiction to approve is determined by the conversion rate on the date...

  20. 32 CFR 536.143 - Settlement authority of Foreign Claims Commissions.

    Code of Federal Regulations, 2011 CFR

    2011-07-01

    .... dollar equivalent (based on the annual Foreign Currency Fluctuation Account exchange rate, where applicable). However, the FCC's jurisdiction to approve is determined by the conversion rate on the date...

  1. Evolutionary financial market models

    NASA Astrophysics Data System (ADS)

    Ponzi, A.; Aizawa, Y.

    2000-12-01

    We study computer simulations of two financial market models, the second a simplified model of the first. The first is a model of the self-organized formation and breakup of crowds of traders, motivated by the dynamics of competitive evolving systems which shows interesting self-organized critical (SOC)-type behaviour without any fine tuning of control parameters. This SOC-type avalanching and stasis appear as realistic volatility clustering in the price returns time series. The market becomes highly ordered at ‘crashes’ but gradually loses this order through randomization during the intervening stasis periods. The second model is a model of stocks interacting through a competitive evolutionary dynamic in a common stock exchange. This model shows a self-organized ‘market-confidence’. When this is high the market is stable but when it gets low the market may become highly volatile. Volatile bursts rapidly increase the market confidence again. This model shows a phase transition as temperature parameter is varied. The price returns time series in the transition region is very realistic power-law truncated Levy distribution with clustered volatility and volatility superdiffusion. This model also shows generally positive stock cross-correlations as is observed in real markets. This model may shed some light on why such phenomena are observed.

  2. Perspectives on the Availability and Utilization of Foreign-Source Informational Materials in Gerontology

    ERIC Educational Resources Information Center

    Beall, George Thomas; Mulak, Susan

    1977-01-01

    In planning for the National Information and Resource Clearinghouse on Aging, scant attention has been paid to improving access to and utilization of foreign-language and foreign-source informational materials. This paper substantiates the fact that cross-national documentary exchange is a particularly weak link in the information transfer chain…

  3. The Integration of Immigrants Into the Labour Markets of the EU. IAB Labour Market Research Topics.

    ERIC Educational Resources Information Center

    Werner, Heinz

    Integration of foreign workers into European Union (EU) labor markets was evaluated. Three indicators of labor market integration were analyzed: unemployment rate, employment rate, and self- employment rate. Results were drawn from the Labor Force Survey data compiled by Eurostat. Findings indicated that, in all EU countries, the unemployment rate…

  4. The Foreign Student Dilemma.

    ERIC Educational Resources Information Center

    Altbach, Philip G.

    1985-01-01

    Analytical introduction and 313-item annotated bibliography address foreign student infrastructure, highlighting academic experiences and performance; adaptation problems; policies (institutional, industrialized nations, Third World nations); educational studies (attitudinal, behavioral, disciplinary, historical, statistical); issues (non-return,…

  5. Foreign Body Retrieval

    MedlinePlus

    ... pieces of toys and fish bones. Swallowing of magnets can cause significant problems including bowel blockages that may require surgical removal of magnets. Children account for about 80 percent of foreign ...

  6. 78 FR 25337 - Notice With Respect to List of Countries Denying Fair Market Opportunities for Government-Funded...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-30

    ... countries as denying fair market opportunities for U.S. products, suppliers, or bidders in foreign... whether any foreign country has denied fair market opportunities to U.S. products, suppliers, or bidders... that indicates that U.S. products, suppliers, or bidders are being denied fair market opportunities...

  7. Hospital marketing.

    PubMed

    Carter, Tony

    2003-01-01

    This article looks at a prescribed academic framework for various criteria that serve as a checklist for marketing performance that can be applied to hospital marketing organizations. These guidelines are drawn from some of Dr. Noel Capon of Columbia University's book Marketing Management in the 21st Century and applied to actual practices of hospital marketing organizations. In many ways this checklist can act as a "marketing" balanced scorecard to verify performance effectiveness and develop opportunities for innovation.

  8. A global perspective on foreign contract labor.

    PubMed

    Smart, J E; Casco, R R

    1988-01-01

    This paper provides a general overview on foreign contract labor. The growth in the use of foreign contract labor is described with reference to other types of international labor movements such as 1) illegal, undocumented, or irregular migration; 2) free migration; and 3) permanent settlement migration. Within this general context, the various national advantages and disadvantages of contract labor are outlined. Particular issues like the role of trade unions and the likely future international labor circulation are noted. The 1984 World Labour Report estimates a global stock of almost 22 million foreign workers. Despite lack of reliable data, the size of irregular labor flows is considerable. More than 4 million undocumented workers, primarily Mexicans, can be found in the US alone. Other major flows of illegal labor go from China to Hong Kong, Malaysia to Singapore, Columbia to Venezuela, and poor Arab countries to oil-exporting countries in the Middle East. Laws are often poorly enforced and contradictory. Employers often actively recruit illegal migrants. While permanent migration was formerly the primary source of foreign workers, the numbers migrating in this manner are decreasing significantly. In absolute terms, host countries gain considerably more through the use of contract labor than sending countries. The pervasive commitment of national governments to economic growth is a prime consideration in the decision to import foreign labor. In general, trade unions have created an environment wherein the use of foreign labor in the formal as opposed to the informal labor market is more difficult. The disadvantages of labor export include the costs of family separation, worker exploitation, and cultural alienation. Remittances constitute the most tangible return of labor export. In many countries they have made a very considerable impact on the balance of payments deficit.

  9. 17 CFR 156.3 - Contract market program for enforcement.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 17 Commodity and Securities Exchanges 1 2011-04-01 2011-04-01 false Contract market program for... BROKER ASSOCIATIONS § 156.3 Contract market program for enforcement. A contract market must, as part of... abuse and to secure compliance with all other contract market bylaws, rules, regulations and...

  10. 17 CFR 156.3 - Contract market program for enforcement.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Contract market program for... BROKER ASSOCIATIONS § 156.3 Contract market program for enforcement. A contract market must, as part of... abuse and to secure compliance with all other contract market bylaws, rules, regulations and...

  11. 17 CFR 36.3 - Exempt commercial markets.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Exempt commercial markets. 36... MARKETS § 36.3 Exempt commercial markets. (a) Notification. An electronic trading facility relying upon... electronic form, shall be labeled as “Notification of Operation as an Exempt Commercial Market,” and...

  12. 17 CFR 36.3 - Exempt commercial markets.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 17 Commodity and Securities Exchanges 1 2011-04-01 2011-04-01 false Exempt commercial markets. 36... MARKETS § 36.3 Exempt commercial markets. (a) Notification. An electronic trading facility relying upon... electronic form, shall be labeled as “Notification of Operation as an Exempt Commercial Market,” and...

  13. 17 CFR 156.3 - Contract market program for enforcement.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 17 Commodity and Securities Exchanges 1 2012-04-01 2012-04-01 false Contract market program for... BROKER ASSOCIATIONS § 156.3 Contract market program for enforcement. A contract market must, as part of... abuse and to secure compliance with all other contract market bylaws, rules, regulations and...

  14. 17 CFR 156.3 - Contract market program for enforcement.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 17 Commodity and Securities Exchanges 2 2014-04-01 2014-04-01 false Contract market program for... (CONTINUED) BROKER ASSOCIATIONS § 156.3 Contract market program for enforcement. A contract market must, as... for potential abuse and to secure compliance with all other contract market bylaws, rules,...

  15. 17 CFR 156.3 - Contract market program for enforcement.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 17 Commodity and Securities Exchanges 1 2013-04-01 2013-04-01 false Contract market program for... BROKER ASSOCIATIONS § 156.3 Contract market program for enforcement. A contract market must, as part of... abuse and to secure compliance with all other contract market bylaws, rules, regulations and...

  16. On the gap between an empirical distribution and an exponential distribution of waiting times for price changes in a financial market

    NASA Astrophysics Data System (ADS)

    Sazuka, Naoya

    2007-03-01

    We analyze waiting times for price changes in a foreign currency exchange rate. Recent empirical studies of high-frequency financial data support that trades in financial markets do not follow a Poisson process and the waiting times between trades are not exponentially distributed. Here we show that our data is well approximated by a Weibull distribution rather than an exponential distribution in the non-asymptotic regime. Moreover, we quantitatively evaluate how much an empirical data is far from an exponential distribution using a Weibull fit. Finally, we discuss a transition between a Weibull-law and a power-law in the long time asymptotic regime.

  17. Structural shifts in the employment of foreign workers in Austria.

    PubMed

    Biffl, G

    1985-03-01

    The full economic importance of immigration becomes clear only when one examines the concentration of immigrant workers in certain industries and occupations, and this is done in the case of Austria to show the degree of segmentation of the labor market between indigenous and foreign labor. In the course of the 1960s the employment of foreign labor gained importance in Austria. As a consequence, bilateral agreements with the major recruiting countries were made, e.g., with Spain in 1962 and 1969, with Turkey in 1964, and with Yugoslavia in 1966. The reason for the increasing demand for foreign labor was the short supply of indigenous labor due to increasing participation rates and strong economic growth. The demand-pull for foreign labor gained momentum with the onset of the economic boom in 1970, so that by the end of 1973 the number of foreign workers had doubled in comparison to 1970. The 226,800 foreign workers accounted for 8.7% of total employment. The 1974-75 recession and the weak economic development ever since resulted in a decreasing demand for labor. At the same time, the supply of indigenous labor increased as a consequence of a demographic effect and because of increasing participation rates of women. From 1981 to the present, foreign employment decreased again due to the unusually long period of economic stagnation. During 1983, 145,300 foreign workers were engaged, i.e., 5.3% of total employment. The structure for foreign employment now differs greatly from that in the 1960s. The share of women in foreign employment has increased steadily from some 20% in the early 1960s to 31% in 1973 and 40% in 1983 -- a value comparable to the Austrian female share in employment. The reduction of foreign employment since 1973 affected, above all, Yugoslav men. the share of Yugoslavs in foreign employment decreased from 196,300 or 79% in 1973 to 92,200 or 61.7% in 1983. With the duration of foreign employment rising, the disribution of foreign labor over economic

  18. 75 FR 47329 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-08-05

    ... marketing fee). In addition, the Exchange notes that options on the iShares MSCI Emerging Markets Index Fund...). $0.20 per contract for Market-Maker and Designated Primary Market-Maker transactions;\\7\\ \\7\\ This is... the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\\14\\ \\14\\...

  19. 78 FR 48742 - Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-09

    ... (``LMMs'') to be allocated Marketing Fees for orders directed to that LMM. The text of the proposed rule.... Purpose The Exchange proposes to amend its marketing fee.\\3\\ The marketing fee is assessed on certain transactions of all Market Makers.\\4\\ The funds collected via this marketing fee are then put into...

  20. Rationale for Language Study. The Challenge of Communication. ACTFL Review of Foreign Language Education, Vol. 6.

    ERIC Educational Resources Information Center

    Lippman, Jane N.

    Enrollment trends and factors that influence foreign language study in colleges and universities are discussed. Most college foreign language programs have emphasized the study of literature and have not been committed to the training of teachers or the teaching of civilization or culture. It appears that students' concern about the job market and…

  1. Foreign Language Teaching Policies and European Unity: The Dutch National Action Programme.

    ERIC Educational Resources Information Center

    van Els, Theo. J. M.; van Hest, Erna W. C. M.

    1990-01-01

    Describes and reviews the Dutch National Action Programme (NAP) on Foreign Languages, instituted in anticipation of the demands of the 1992 Single European Market. The increasing demand for foreign languages is confirmed, some shortcomings of the current program regarding French and German language learning are identified, and recommendations for…

  2. 7 CFR 1427.22 - Commodity certificate exchanges.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... ending with the 2009 crop and will not be available for subsequent crops. (b) The exchange rate is the... 7 Agriculture 10 2012-01-01 2012-01-01 false Commodity certificate exchanges. 1427.22 Section 1427... Deficiency Payments § 1427.22 Commodity certificate exchanges. (a) For any outstanding marketing...

  3. 7 CFR 1427.22 - Commodity certificate exchanges.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... ending with the 2009 crop and will not be available for subsequent crops. (b) The exchange rate is the... 7 Agriculture 10 2014-01-01 2014-01-01 false Commodity certificate exchanges. 1427.22 Section 1427... Deficiency Payments § 1427.22 Commodity certificate exchanges. (a) For any outstanding marketing...

  4. 7 CFR 1427.22 - Commodity certificate exchanges.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... ending with the 2009 crop and will not be available for subsequent crops. (b) The exchange rate is the... 7 Agriculture 10 2011-01-01 2011-01-01 false Commodity certificate exchanges. 1427.22 Section 1427... Deficiency Payments § 1427.22 Commodity certificate exchanges. (a) For any outstanding marketing...

  5. 7 CFR 1427.22 - Commodity certificate exchanges.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... ending with the 2009 crop and will not be available for subsequent crops. (b) The exchange rate is the... 7 Agriculture 10 2013-01-01 2013-01-01 false Commodity certificate exchanges. 1427.22 Section 1427... Deficiency Payments § 1427.22 Commodity certificate exchanges. (a) For any outstanding marketing...

  6. 7 CFR 1427.22 - Commodity certificate exchanges.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... ending with the 2009 crop and will not be available for subsequent crops. (b) The exchange rate is the... 7 Agriculture 10 2010-01-01 2010-01-01 false Commodity certificate exchanges. 1427.22 Section 1427... Deficiency Payments § 1427.22 Commodity certificate exchanges. (a) For any outstanding marketing...

  7. 17 CFR 240.12g3-2 - Exemptions for American depositary receipts and certain foreign securities.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Exemptions for American depositary receipts and certain foreign securities. 240.12g3-2 Section 240.12g3-2 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION (CONTINUED) GENERAL RULES AND REGULATIONS, SECURITIES...

  8. 76 FR 51114 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-17

    ... Exchange represents that it may obtain information from the New York Mercantile Exchange, Inc. (``NYMEX... open market and a national market system, and, in general to protect investors and the public...

  9. Marketing fundamentals.

    PubMed

    Redmond, W H

    2001-01-01

    This chapter outlines current marketing practice from a managerial perspective. The role of marketing within an organization is discussed in relation to efficiency and adaptation to changing environments. Fundamental terms and concepts are presented in an applied context. The implementation of marketing plans is organized around the four P's of marketing: product (or service), promotion (including advertising), place of delivery, and pricing. These are the tools with which marketers seek to better serve their clients and form the basis for competing with other organizations. Basic concepts of strategic relationship management are outlined. Lastly, alternate viewpoints on the role of advertising in healthcare markets are examined.

  10. Heat exchanger

    DOEpatents

    Daman, Ernest L.; McCallister, Robert A.

    1979-01-01

    A heat exchanger is provided having first and second fluid chambers for passing primary and secondary fluids. The chambers are spaced apart and have heat pipes extending from inside one chamber to inside the other chamber. A third chamber is provided for passing a purge fluid, and the heat pipe portion between the first and second chambers lies within the third chamber.

  11. 77 FR 4073 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-01-26

    ... been prepared by the Exchange. The Exchange has designated the proposal as a ``non-controversial... origin code (i.e., public customer orders, non-Market- Maker broker-dealer orders, and Market-Maker... HAL2 classes to non-HAL/HAL2 classes is also consistent with how the Exchange's automated technology...

  12. 17 CFR 230.802 - Exemption for offerings in connection with an exchange offer or business combination for the...

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... connection with an exchange offer or business combination for the securities of foreign private issuers. 230... Offers and Business Combinations § 230.802 Exemption for offerings in connection with an exchange offer or business combination for the securities of foreign private issuers. Offers and sales in...

  13. 77 FR 23313 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-04-18

    ... transactions, including non-ISE market maker contracts that are part of a crossing transaction, are eligible... surcharge fee charged by the Exchange on licensed products,\\7\\ (2) fees from Non-ISE Market Maker volume not... competition prevalent across the options markets today, the Exchange now proposes to make changes to...

  14. 76 FR 74086 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-11-30

    ... impediments to and perfect the mechanism of a free and open market and a national market system. The proposed... COMMISSION Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness... Extraordinary Market Volatility November 23, 2011. Pursuant to Section 19(b)(1) of the Securities Exchange...

  15. 75 FR 57097 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-09-17

    ... perfect the mechanism of, a free and open market and a national market system, and, in general, protect... COMMISSION Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness... Commission rules. (3) The Exchange, on behalf of its parent company, BATS Global Markets, Inc.,...

  16. 78 FR 27269 - Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-05-09

    ... requirement that other exchanges do not share and perfects the mechanism for a free and open market and a... Immediate Effectiveness of a Proposed Rule Change To Allow All Lead Market Makers To Receive Directed Orders... filing a proposal to provide that an Electronic Exchange Member can designate a Lead Market...

  17. Marketing 101.

    ERIC Educational Resources Information Center

    Henderson, Karla A.

    1997-01-01

    A marketing model for camps includes a mix of services, presentation, and communication elements that promote the virtues of camp, convince potential campers and their families of the benefits of camp, and successfully distinguish the camp from others. Includes resources related to marketing strategies, theme merchandise, and market trends…

  18. [Resident foreigners in Spain].

    PubMed

    Solana, A M; Pascual De Sans, A

    1994-01-01

    The authors review trends in the size of the resident foreign population in Spain over time since the 1940s. A continuing growth over time, with temporal fluctuations, is noted, with a rapid rise in immigration in the 1980s, leading to new legislation designed to control immigration in 1985-1986 and 1991. The authors note that Europeans, particularly from countries of the European Union, make up a large percentage of the foreign population, but that the number of immigrants from developing countries has increased significantly in the last 10 years.

  19. Transient foreign accent syndrome

    PubMed Central

    Bhandari, Hanul Srinivas

    2011-01-01

    Foreign accent syndrome (FAS) is a poorly understood and studied syndrome as it is indeed a rare entity. Since its first description in 1907 by French neurologist Pierre Marie involving a patient who presented with an Alsatian accent, there are approximately only 60 cases reported in the literature. The majority of such cases of FAS have been secondary to cerebrovascular accidents. Of the cases in the literature, none report such a transitory nature of FAS. In this particular case, a 55-year-old male presented with a foreign accent. This FAS was triggered by ischemia and was reversed after a seizure, the first reported in the literature. PMID:22674099

  20. 17 CFR Appendix D to Part 30 - Information That a Foreign Board of Trade Should Submit When Seeking No-Action Relief To Offer...

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... COMMISSION FOREIGN FUTURES AND FOREIGN OPTIONS TRANSACTIONS Pt. 30, App. D Appendix D to Part 30—Information... trading of futures contracts on a group or index of securities on contract markets and derivatives... United States, a Futures Contract on a Foreign Non-Narrow-Based Security Index Traded on That...

  1. Custom, contract, and kidney exchange.

    PubMed

    Healy, Kieran; Krawiec, Kimberly D

    2012-01-01

    In this Essay, we examine a case in which the organizational and logistical demands of a novel form of organ exchange (the nonsimultaneous, extended, altruistic donor (NEAD) chain) do not map cleanly onto standard cultural schemas for either market or gift exchange, resulting in sociological ambiguity and legal uncertainty. In some ways, a NEAD chain resembles a form of generalized exchange, an ancient and widespread instance of the norm of reciprocity that can be thought of simply as the obligation to “pay it forward” rather than the obligation to reciprocate directly with the original giver. At the same time, a NEAD chain resembles a string of promises and commitments to deliver something in exchange for some valuable consideration--that is, a series of contracts. Neither of these salient "social imaginaries" of exchange--gift giving or formal contract--perfectly meets the practical demands of the NEAD system. As a result, neither contract nor generalized exchange drives the practice of NEAD chains. Rather, the majority of actual exchanges still resemble a simpler form of exchange: direct, simultaneous exchange between parties with no time delay or opportunity to back out. If NEAD chains are to reach their full promise for large-scale, nonsimultaneous organ transfer, legal uncertainties and sociological ambiguities must be finessed, both in the practices of the coordinating agencies and in the minds of NEAD-chain participants. This might happen either through the further elaboration of gift-like language and practices, or through a creative use of the cultural form and motivational vocabulary, but not necessarily the legal and institutional machinery, of contract.

  2. Foreign civil aviation competition: 1976 summary and implications

    NASA Technical Reports Server (NTRS)

    Alford, W. J., Jr.; Maddalon, D. V.

    1976-01-01

    A summary assessment is made of foreign civil aviation as it relates to the posture of the United States civil aviation industry. Major findings include: (1) Main competitors - European Economic Community (EEC) and Union of Soviet Socialist Republics (USSR). (2) Largest commercial market - Transport aircraft. (3) Current market status and projections - U.S. currently dominates the civil aviation market but foreign markets show greater growth trends. (4) Competitive comparisons - Status comparisons are made in technology (aerodynamics, structures and materials, propulsion, avionics, systems, design coordination, and manufacturing); production runs; marketing; and postsales support. The U.S. generally leads except in aerodynamics and propulsion. (5) Multinational ventures - Joint U.S. industry/foreign government development of advanced technology engines is well developed; airframe industry discussions are now underway. (6) Implications - Although the U.S., is currently preeminent in most areas, this may be only a temporary condition. Past U.S. success in aviation has provided many benefits to the nation. These benefits may be lost.

  3. Capacity Markets and Market Stability

    SciTech Connect

    Stauffer, Hoff

    2006-04-15

    The good news is that market stability can be achieved through a combination of longer-term contracts, auctions for far enough in the future to permit new entry, a capacity management system, and a demand curve. The bad news is that if and when stable capacity markets are designed, the markets may seem to be relatively close to where we started - with integrated resource planning. Market ideologues will find this anathema. (author)

  4. Scale-dependent price fluctuations for the Indian stock market

    NASA Astrophysics Data System (ADS)

    Matia, K.; Pal, M.; Salunkay, H.; Stanley, H. E.

    2004-06-01

    Classic studies of the probability density of price fluctuations g for stocks and foreign exchanges of several highly developed economies have been interpreted using a power law probability density function P(g) ~ g-(α + 1) with exponent values α > 2. To test the ubiquity of this relationship we analyze daily returns for the period November 1994 June 2002 for the 49 largest stocks of the National Stock Exchange which has the highest trade volume in India. We find the surprising result that P(g) decays as an exponential function P(g) ~ exp [ - βg] with a characteristic decay scale β = 1.51 ± 0.05 for the negative tail and β = 1.34 ± 0.04 for the positive tail. The exponential function is significantly different from the power law function observed for highly developed economies. Thus, we conclude that the stock market of the less highly developed economy of India belongs to a different class from that of highly developed countries.

  5. 77 FR 33498 - Joint Industry Plans; Order Approving, on a Pilot Basis, the National Market System Plan To...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-06-06

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Joint Industry Plans; Order Approving, on a Pilot Basis, the National Market System Plan To Address Extraordinary Market Volatility by BATS Exchange, Inc., BATS Y-Exchange, Inc., Chicago Board Options Exchange, Incorporated, Chicago...

  6. 78 FR 54305 - Joint Industry Plan; Notice of Filing of the Fifth Amendment to the National Market System Plan...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-09-03

    ... From the Federal Register Online via the Government Publishing Office ] SECURITIES AND EXCHANGE COMMISSION Joint Industry Plan; Notice of Filing of the Fifth Amendment to the National Market System Plan To Address Extraordinary Market Volatility by BATS Exchange, Inc., BATS Y-Exchange, Inc., Chicago Board Options Exchange, Incorporated,...

  7. Foreign Humanitarian Assistance

    DTIC Science & Technology

    2009-03-17

    including, FHA, FCM, NEO, and forensics that will require coordination with different elements of the foreign emergency support team (FEST), US embassy...health survey results for air, water, soil, and noise; entomological surveys; occupational and industrial hygiene surveys; and ionizing and non

  8. Learning Foreign Vowels

    ERIC Educational Resources Information Center

    Kingston, John

    2003-01-01

    Two hypotheses have recently been put forward to account for listeners' ability to distinguish and learn contrasts between speech sounds in foreign languages. First, Best's Perceptual Assimilation Model and Flege's Speech Learning Model both predict that the ease with which a listener can tell one non-native phoneme from another varies directly…

  9. Foreign Languages in Careers.

    ERIC Educational Resources Information Center

    Dill, Wolfgang

    Foreign language study must be justified in relation to everyday situations, problems and needs. Second language education must therefore be integrated with career education. The Oregon State Department of Education sponsored a study for a group of educators to produce a transportable display and a video tape for career awareness purposes and to…

  10. Foreign Language Program Evaluation.

    ERIC Educational Resources Information Center

    Kirshner, Sheldon G.

    In order to assess the foreign language programs currently offered by Oakton Community College (OCC), a three-part investigation was undertaken in 1974. First, to examine grade distribution and drop-out rate, the records of students enrolled in language courses were compared with the records of the total student body. During the spring, summer and…

  11. Morality and Foreign Policy.

    ERIC Educational Resources Information Center

    Kissinger, Henry

    1985-01-01

    Morality as an enduring element in United States foreign policy is discussed. In order to strengthen the steady purpose and responsible involvement of the American people, human rights policy must be presented in the context of a realistic assessment of world affairs. (RM)

  12. Modeling Philippine Stock Exchange Composite Index Using Time Series Analysis

    NASA Astrophysics Data System (ADS)

    Gayo, W. S.; Urrutia, J. D.; Temple, J. M. F.; Sandoval, J. R. D.; Sanglay, J. E. A.

    2015-06-01

    This study was conducted to develop a time series model of the Philippine Stock Exchange Composite Index and its volatility using the finite mixture of ARIMA model with conditional variance equations such as ARCH, GARCH, EG ARCH, TARCH and PARCH models. Also, the study aimed to find out the reason behind the behaviorof PSEi, that is, which of the economic variables - Consumer Price Index, crude oil price, foreign exchange rate, gold price, interest rate, money supply, price-earnings ratio, Producers’ Price Index and terms of trade - can be used in projecting future values of PSEi and this was examined using Granger Causality Test. The findings showed that the best time series model for Philippine Stock Exchange Composite index is ARIMA(1,1,5) - ARCH(1). Also, Consumer Price Index, crude oil price and foreign exchange rate are factors concluded to Granger cause Philippine Stock Exchange Composite Index.

  13. Marketing Power Tools for Building Better Connections.

    ERIC Educational Resources Information Center

    Goldman, Karen Denard

    This paper proposes use of marketing methods to improve college health services and enhance their perceived value. Ten key marketing principles are defined: (1) value of the service as seen by the target population; (2) exchange clients perceive benefits received as exceeding perceived costs; (3) competition offering a better product than the…

  14. A Guide to the Use of Market Segmentation for the Dissemination of Educational Innovations. Final Report of a Project to Study the Effectiveness of Marketing Programming for Educational Change.

    ERIC Educational Resources Information Center

    Wrausmann, Gale L.; And Others

    Markets can be defined as groups of people or organizations that have resources that could be exchanged for distinct benefits. Market segmentation is one strategy for market management and involves describing the market in terms of the subgroups that compose it so that exchanges with those subgroups can be more effectively promoted or facilitated.…

  15. 17 CFR 270.12d1-1 - Exemptions for investments in money market funds.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... money market funds. 270.12d1-1 Section 270.12d1-1 Commodity and Securities Exchanges SECURITIES AND... Exemptions for investments in money market funds. (a) Exemptions for acquisition of money market fund shares... issued by a money market fund; and (2) A money market fund, any principal underwriter thereof, and...

  16. 17 CFR 270.12d1-1 - Exemptions for investments in money market funds.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... money market funds. 270.12d1-1 Section 270.12d1-1 Commodity and Securities Exchanges SECURITIES AND... Exemptions for investments in money market funds. (a) Exemptions for acquisition of money market fund shares... issued by a money market fund; and (2) A money market fund, any principal underwriter thereof, and...

  17. 17 CFR 270.12d1-1 - Exemptions for investments in money market funds.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... money market funds. 270.12d1-1 Section 270.12d1-1 Commodity and Securities Exchanges SECURITIES AND... Exemptions for investments in money market funds. (a) Exemptions for acquisition of money market fund shares... issued by a money market fund; and (2) A money market fund, any principal underwriter thereof, and...

  18. 38 CFR 3.32 - Exchange rates for foreign currencies.

    Code of Federal Regulations, 2014 CFR

    2014-07-01

    ... of burial, plot or headstone allowances or accrued benefits to which a claimant or beneficiary may be... period for which income and expenses are reported. (b) Burial, plot or headstone allowances and accrued benefits. Payment amounts for burial, plot or headstone allowances and claims for accrued benefits...

  19. 38 CFR 3.32 - Exchange rates for foreign currencies.

    Code of Federal Regulations, 2013 CFR

    2013-07-01

    ... of burial, plot or headstone allowances or accrued benefits to which a claimant or beneficiary may be... period for which income and expenses are reported. (b) Burial, plot or headstone allowances and accrued benefits. Payment amounts for burial, plot or headstone allowances and claims for accrued benefits...

  20. 38 CFR 3.32 - Exchange rates for foreign currencies.

    Code of Federal Regulations, 2012 CFR

    2012-07-01

    ... of burial, plot or headstone allowances or accrued benefits to which a claimant or beneficiary may be... period for which income and expenses are reported. (b) Burial, plot or headstone allowances and accrued benefits. Payment amounts for burial, plot or headstone allowances and claims for accrued benefits...