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Sample records for taiwan stock exchange

  1. Stock or stroke? Stock market movement and stroke incidence in Taiwan.

    PubMed

    Chen, Chun-Chih; Chen, Chin-Shyan; Liu, Tsai-Ching; Lin, Ying-Tzu

    2012-12-01

    This paper investigates the impact of stock market movement on incidences of stroke utilizing population-based aggregate data in Taiwan. Using the daily data from the Taiwan Stock Exchange Capitalization Weighted Stock Index and from the National Health Insurance Research Database during 2001/1/1-2007/12/31, which consist of 2556 observations, we examine the effects of stock market on stroke incidence - the level effect and the daily change effects. In general, we find that both a low stock index level and a daily fall in the stock index are associated with greater incidences of stroke. We further partition the data on sex and age. The level effect is found to be significant for either gender, in the 45-64 and 65 ≥ age groups. In addition, two daily change effects are found to be significant for males and the elderly. Although stockholdings can increase wealth, they can also increase stroke incidence, thereby representing a cost to health.

  2. Causalities of the Taiwan stock market

    NASA Astrophysics Data System (ADS)

    Ting, Julian Juhi-Lian

    2003-06-01

    Volatility, fitting with first-order Landau expansion, stationarity, and causality of the Taiwan stock market (TAIEX) are investigated based on daily records. Instead of consensuses that consider stock market index change as a random time series we propose the market change as a dual time series consists of the index and the corresponding volume. Therefore, causalities between these two time series are investigated. Our results suggest the volume time series is of second-order importance than the index time series. The index time series receives slightly stronger influence from the previous 67th trading day, while the volume time series is slightly stronger influenced by the previous 62nd trading day.

  3. The overnight effect on the Taiwan stock market

    NASA Astrophysics Data System (ADS)

    Tsai, Kuo-Ting; Lih, Jiann-Shing; Ko, Jing-Yuan

    2012-12-01

    This study examines statistical regularities among three components of stocks and indices: daytime (trading hour) return, overnight (off-hour session) return, and total (close-to-close) return. Owing to the fact that the Taiwan Stock Exchange (TWSE) has the longest non-trading periods among major markets, the TWSE is selected to explore the correlation among the three components and compare it with major markets such as the New York Stock Exchange (NYSE) and the National Association of Securities Dealers Automated Quotation (NASDAQ). Analysis results indicate a negative cross correlation between the sign of daytime return and the sign of overnight return; possibly explaining why most stocks feature a negative cross correlation between daytime return and overnight return [F. Wang, S.-J. Shieh, S. Havlin, H.E. Stanley, Statistical analysis of the overnight and daytime return, Phys. Rev. E 79 (2009) 056109]. Additionally, the cross correlation between the magnitude of returns is analyzed. According to those results, a larger magnitude of overnight return implies a higher probability that the sign of the following daytime return is the opposite of the sign of overnight return. Namely, the predictability of daytime return might be improved when a stock undergoes a large magnitude of overnight return. Furthermore, the cross correlations of 29 indices of worldwide markets are discussed.

  4. 26 CFR 1.1081-3 - Exchanges of stock or securities solely for stock or securities.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Exchanges of stock or securities solely for stock or securities. 1.1081-3 Section 1.1081-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF... § 1.1081-3 Exchanges of stock or securities solely for stock or securities. The exchange, without...

  5. 26 CFR 1.1081-3 - Exchanges of stock or securities solely for stock or securities.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 26 Internal Revenue 11 2013-04-01 2013-04-01 false Exchanges of stock or securities solely for stock or securities. 1.1081-3 Section 1.1081-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF....c. Orders § 1.1081-3 Exchanges of stock or securities solely for stock or securities. The...

  6. 26 CFR 1.1081-3 - Exchanges of stock or securities solely for stock or securities.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 26 Internal Revenue 11 2011-04-01 2011-04-01 false Exchanges of stock or securities solely for stock or securities. 1.1081-3 Section 1.1081-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF....c. Orders § 1.1081-3 Exchanges of stock or securities solely for stock or securities. The...

  7. 26 CFR 1.1081-3 - Exchanges of stock or securities solely for stock or securities.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 26 Internal Revenue 11 2014-04-01 2014-04-01 false Exchanges of stock or securities solely for stock or securities. 1.1081-3 Section 1.1081-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF....c. Orders § 1.1081-3 Exchanges of stock or securities solely for stock or securities. The...

  8. 26 CFR 1.1081-3 - Exchanges of stock or securities solely for stock or securities.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 26 Internal Revenue 11 2012-04-01 2012-04-01 false Exchanges of stock or securities solely for stock or securities. 1.1081-3 Section 1.1081-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF....c. Orders § 1.1081-3 Exchanges of stock or securities solely for stock or securities. The...

  9. Random matrix theory and portfolio optimization in Moroccan stock exchange

    NASA Astrophysics Data System (ADS)

    El Alaoui, Marwane

    2015-09-01

    In this work, we use random matrix theory to analyze eigenvalues and see if there is a presence of pertinent information by using Marčenko-Pastur distribution. Thus, we study cross-correlation among stocks of Casablanca Stock Exchange. Moreover, we clean correlation matrix from noisy elements to see if the gap between predicted risk and realized risk would be reduced. We also analyze eigenvectors components distributions and their degree of deviations by computing the inverse participation ratio. This analysis is a way to understand the correlation structure among stocks of Casablanca Stock Exchange portfolio.

  10. 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.

  11. Testing for contagion under asymmetric dynamics: Evidence from the stock markets between US and Taiwan

    NASA Astrophysics Data System (ADS)

    Wang, Kuan-Min; Nguyen Thi, Thanh-Binh

    2007-03-01

    This article is an attempt to test, through the use of forward forecasting test on dynamic conditional correlation (DCC), for contagion between Taiwan and US stocks under asymmetry. The process includes three steps. The first step uses the iterated cumulative sums of squares (ICSS) algorithm to detect the structural breaks of market return. The second step creates dummy variables for breaks, estimates EGARCH model of conditional generalized error distribution, and computes dynamic conditional correlation coefficients of DCC multivariate GARCH model. The third step employs one-step and N-step forecast test to check for contagion effect. The evidences prove the asymmetric leverage effect of Taiwan weighted stock index and New York-NYSE Composite Index. Interestingly, we discovered that there are two kinds of contagion, “positive” and “negative”, between markets.

  12. Cluster fusion-fission dynamics in the Singapore stock exchange

    NASA Astrophysics Data System (ADS)

    Teh, Boon Kin; Cheong, Siew Ann

    2015-10-01

    In this paper, we investigate how the cross-correlations between stocks in the Singapore stock exchange (SGX) evolve over 2008 and 2009 within overlapping one-month time windows. In particular, we examine how these cross-correlations change before, during, and after the Sep-Oct 2008 Lehman Brothers Crisis. To do this, we extend the complete-linkage hierarchical clustering algorithm, to obtain robust clusters of stocks with stronger intracluster correlations, and weaker intercluster correlations. After we identify the robust clusters in all time windows, we visualize how these change in the form of a fusion-fission diagram. Such a diagram depicts graphically how the cluster sizes evolve, the exchange of stocks between clusters, as well as how strongly the clusters mix. From the fusion-fission diagram, we see a giant cluster growing and disintegrating in the SGX, up till the Lehman Brothers Crisis in September 2008 and the market crashes of October 2008. After the Lehman Brothers Crisis, clusters in the SGX remain small for few months before giant clusters emerge once again. In the aftermath of the crisis, we also find strong mixing of component stocks between clusters. As a result, the correlation between initially strongly-correlated pairs of stocks decay exponentially with average life time of about a month. These observations impact strongly how portfolios and trading strategies should be formulated.

  13. Multifractal analysis of stock exchange crashes

    NASA Astrophysics Data System (ADS)

    Siokis, Fotios M.

    2013-03-01

    We analyze the complexity of rare events of the DJIA Index. We reveal that the returns of the time series exhibit strong multifractal properties meaning that temporal correlations play a substantial role. The effect of major stock market crashes can be best illustrated by the comparison of the multifractal spectra of the time series before and after the crash. Aftershock periods compared to foreshock periods exhibit richer and more complex dynamics. Compared to an average crash, calculated by taking into account the larger 5 crashes of the DJIA Index, the 1929 event exhibits significantly more increase in multifractality than the 1987 crisis.

  14. Multivariate Comparative Analysis of Stock Exchanges: The European Perspective

    NASA Astrophysics Data System (ADS)

    Koralun-Bereźnicka, Julia

    The aim of the research is to perform a multivariate comparative analysis of 20 European stock exchanges in order to identify the main similarities between the objects. Due to the convergence process of capital markets in Europe the similarities between stock exchanges could be expected to increase over time. The research is meant to show whether and how these similarities change. Consequently, the distances between clusters of similar stock exchanges should become less significant, which the analysis also aims at verifying. The basis of comparison is a set of 48 monthly variables from the period January, 2003 to December, 2006. The variables are classified into three categories: size of the market, equity trading and bonds. The paper aims at identifying the clusters of alike stock exchanges and at finding the characteristic features of each of the distinguished groups. The obtained categorization to some extent corresponds with the division of the European Union into “new” and “old” member countries. Clustering method, performed for each quarter separately, also reveals that the classification is fairly stable in time. The factor analysis, which was carried out to reduce the number of variables, reveals three major factors behind the data, which are related with the earlier mentioned categories of variables.

  15. “Price-Quakes” Shaking the World's Stock Exchanges

    PubMed Central

    Andersen, Jørgen Vitting; Nowak, Andrzej; Rotundo, Giulia; Parrott, Lael; Martinez, Sebastian

    2011-01-01

    Background Systemic risk has received much more awareness after the excessive risk taking by major financial instituations pushed the world's financial system into what many considered a state of near systemic failure in 2008. The IMF for example in its yearly 2009 Global Financial Stability Report acknowledged the lack of proper tools and research on the topic. Understanding how disruptions can propagate across financial markets is therefore of utmost importance. Methodology/Principal Findings Here, we use empirical data to show that the world's markets have a non-linear threshold response to events, consistent with the hypothesis that traders exhibit change blindness. Change blindness is the tendency of humans to ignore small changes and to react disproportionately to large events. As we show, this may be responsible for generating cascading events—pricequakes—in the world's markets. We propose a network model of the world's stock exchanges that predicts how an individual stock exchange should be priced in terms of the performance of the global market of exchanges, but with change blindness included in the pricing. The model has a direct correspondence to models of earth tectonic plate movements developed in physics to describe the slip-stick movement of blocks linked via spring forces. Conclusions/Significance We have shown how the price dynamics of the world's stock exchanges follows a dynamics of build-up and release of stress, similar to earthquakes. The nonlinear response allows us to classify price movements of a given stock index as either being generated internally, due to specific economic news for the country in question, or externally, by the ensemble of the world's stock exchanges reacting together like a complex system. The model may provide new insight into the origins and thereby also prevent systemic risks in the global financial network. PMID:22073168

  16. From Buttonwood to Silicon--A Bicentennial Look at the New York Stock Exchange.

    ERIC Educational Resources Information Center

    Pahl, Ronald H.

    1992-01-01

    Introduces a journal issue devoted to the New York Stock Exchange. Describes the formation and development of the stock exchange and Wall Street. Discusses the connection between politics and finance and the economic changes in formerly socialist nations. Suggests that the New York Stock Exchange may have to convert to a computer trading system.…

  17. Technology Education and Related International Exchange Programs in Taiwan, Republic of China.

    ERIC Educational Resources Information Center

    Lee, Lung-Sheng

    This paper presents a short overview of industrial arts and technology education programs in Taiwan and the exchange programs available to international technology educators. The first section profiles the status of Taiwan and its educational system, and the second section describes the industrial arts programs prescribed by the curriculum,…

  18. 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.

  19. 26 CFR 1.356-4 - Exchanges for section 306 stock.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Exchanges for section 306 stock. 1.356-4 Section... stock. If, in a transaction to which section 356 is applicable, other property or money is received in exchange for section 306 stock, an amount equal to the fair market value of the property plus the money,...

  20. 26 CFR 1.356-4 - Exchanges for section 306 stock.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 26 Internal Revenue 4 2014-04-01 2014-04-01 false Exchanges for section 306 stock. 1.356-4 Section... section 306 stock. If, in a transaction to which section 356 is applicable, other property or money is received in exchange for section 306 stock, an amount equal to the fair market value of the property...

  1. 26 CFR 1.356-4 - Exchanges for section 306 stock.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 26 Internal Revenue 4 2012-04-01 2012-04-01 false Exchanges for section 306 stock. 1.356-4 Section... section 306 stock. If, in a transaction to which section 356 is applicable, other property or money is received in exchange for section 306 stock, an amount equal to the fair market value of the property...

  2. 26 CFR 1.356-4 - Exchanges for section 306 stock.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 26 Internal Revenue 4 2013-04-01 2013-04-01 false Exchanges for section 306 stock. 1.356-4 Section... section 306 stock. If, in a transaction to which section 356 is applicable, other property or money is received in exchange for section 306 stock, an amount equal to the fair market value of the property...

  3. 26 CFR 1.356-4 - Exchanges for section 306 stock.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 26 Internal Revenue 4 2011-04-01 2011-04-01 false Exchanges for section 306 stock. 1.356-4 Section... stock. If, in a transaction to which section 356 is applicable, other property or money is received in exchange for section 306 stock, an amount equal to the fair market value of the property plus the money,...

  4. 78 FR 72968 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-04

    ... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule... York Stock Exchange LLC (``NYSE'' or the ``Exchange'') filed with the Securities and Exchange... Exchange Rule 62. Rule 62 sets the minimum price variation to $0.01 for stocks priced greater than...

  5. 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.

  6. 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.

  7. 77 FR 63404 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-10-16

    ... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Section 902.02 of the New York Stock Exchange Listed Company..., on September 25, 2012, New York Stock Exchange LLC (``NYSE'' or the ``Exchange'') filed with...

  8. Creating a Global Stock Exchange: Does the Present National System Have a Future?

    ERIC Educational Resources Information Center

    Warner-Allen, Charles

    Sovereignty and national pride throw up potentially the biggest obstacles in the path of a global stock exchange, being all the more insurmountable because of their bases in emotional politics as opposed to economic logic. A global stock exchange could come about if New York, London and Tokyo could consolidate their current baton-passing activity…

  9. 26 CFR 1.354-1 - Exchanges of stock and securities in certain reorganizations.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Effects on Shareholders and Security Holders § 1... exchange for other stock or to a security holder who surrenders his securities in exchange for stock. Section 354 also provides that under certain circumstances a security holder may surrender securities...

  10. 26 CFR 1.354-1 - Exchanges of stock and securities in certain reorganizations.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Effects on Shareholders and Security Holders § 1... exchange for other stock or to a security holder who surrenders his securities in exchange for stock. Section 354 also provides that under certain circumstances a security holder may surrender securities...

  11. 26 CFR 1.354-1 - Exchanges of stock and securities in certain reorganizations.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (Continued) Effects on Shareholders and Security Holders § 1... exchange for other stock or to a security holder who surrenders his securities in exchange for stock. Section 354 also provides that under certain circumstances a security holder may surrender securities...

  12. Taiwan.

    PubMed

    1988-03-01

    Attention in this discussion of Taiwan is directed to the following: geography; the people -- education, languages, religions, and cultural background; history; administration; political conditions; the economy; defense; foreign relations; and relations between the US and Taiwan. In 1987 the population was estimated to be 19.7 million with an annual growth rate of 1.07%. The infant mortality rate in 1986 was 0.7% with a life expectancy of 70.8 for men and 75.8 for women. Taipei, which continues its claim of sovereignty over all of China in the name of the "Republic of China," exercises control only over the island of Taiwan, the Penghu Islands, and about 20 offshore islands, most near the China mainland. Most native Taiwanese speak a variant of the Amoy (Hokkien) dialect of Southern Fujian. The predominant religion is a combination of Buddhism and Taoism. Chinese sources show migration to Taiwan began as early as A.D. 500. Dutch traders 1st claimed the island in 1624 as a base for Dutch commerce with Japan and the China coast. The 1st major influx of migrants from the Chinese mainland came during the Dutch period. In 1664, a Chinese fleet led by the Ming loyalist Zheng Chenggong retreated from the mainland and occupied Taiwan. Zheng expelled the Dutch and established Taiwan as a base in his attempt to restore the Ming Dynasty. After his death in 1683, his successors submitted to Manchu control. Manchu China ruled Taiwan as a frontier district until it was declared a separate Chinese province in 1886. The authorities in Taipei claim to be the government of all China, including Taiwan. When President Chiang Ching-kuo died in 1988, he was succeeded by Vice President Lee Teng-hui, who had been elected along with Chiang by the National Assembly to a 6-year term. Until 1986, Taiwan's political system was effectively 1 party. Before elections in 1986, many "nonpartisans" grouped together to form Taiwan's 1st new political party in over 4 decades -- the Democratic

  13. 77 FR 69522 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-19

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate... Section 19(b)(1) of the Securities Exchange Act of 1934 (the ``Exchange Act'' or ``Act''),\\1\\ and Rule...

  14. 75 FR 2914 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-01-19

    ... Exchange notes that a number of other exchanges have tiered fee schedules which offer different rates... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and...

  15. 75 FR 28842 - Self-Regulatory Organizations; Proposed Rule Change by Chicago Stock Exchange, Inc.; Notice of...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-05-24

    ... COMMISSION Self-Regulatory Organizations; Proposed Rule Change by Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule Change To Establish a Trading Halt for Individual Stocks Contained in the... Chicago Stock Exchange, Inc. (``CHX'' or the ``Exchange'') filed with the Securities and...

  16. Forecasting Tehran stock exchange volatility; Markov switching GARCH approach

    NASA Astrophysics Data System (ADS)

    Abounoori, Esmaiel; Elmi, Zahra (Mila); Nademi, Younes

    2016-03-01

    This paper evaluates several GARCH models regarding their ability to forecast volatility in Tehran Stock Exchange (TSE). These include GARCH models with both Gaussian and fat-tailed residual conditional distribution, concerning their ability to describe and forecast volatility from 1-day to 22-day horizon. Results indicate that AR(2)-MRSGARCH-GED model outperforms other models at one-day horizon. Also, the AR(2)-MRSGARCH-GED as well as AR(2)-MRSGARCH-t models outperform other models at 5-day horizon. In 10 day horizon, three models of AR(2)-MRSGARCH outperform other models. Concerning 22 day forecast horizon, results indicate no differences between MRSGARCH models with that of standard GARCH models. Regarding Risk management out-of-sample evaluation (95% VaR), a few models seem to provide reasonable and accurate VaR estimates at 1-day horizon, with a coverage rate close to the nominal level. According to the risk management loss functions, there is not a uniformly most accurate model.

  17. 77 FR 14450 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-03-09

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate... Section 19(b)(1) of the Securities Exchange Act of 1934 (the ``Act'') \\1\\ and Rule 19b-4...

  18. 75 FR 4436 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-01-27

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Implement a Cancellation Fee January 21, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange...

  19. 26 CFR 1.354-1 - Exchanges of stock and securities in certain reorganizations.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Effects on Shareholders and Security Holders § 1.354-1... stock or to a security holder who surrenders his securities in exchange for stock. Section 354 also provides that under certain circumstances a security holder may surrender securities and receive...

  20. 26 CFR 1.354-1 - Exchanges of stock and securities in certain reorganizations.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Effects on Shareholders and Security Holders § 1.354-1... stock or to a security holder who surrenders his securities in exchange for stock. Section 354 also provides that under certain circumstances a security holder may surrender securities and receive...

  1. 78 FR 36279 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-06-17

    ... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate... York Stock Exchange LLC (the ``Exchange'' or ``NYSE'') filed with the Securities and Exchange... 103B provides two options for the allocation of securities to DMMs: (1) The issuer selects the DMM...

  2. 75 FR 2899 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-01-19

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change..., New York Stock Exchange LLC (``NYSE'' or ``Exchange'') filed with the Securities and...

  3. 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.

  4. Building a national electronic medical record exchange system - experiences in Taiwan.

    PubMed

    Li, Yu-Chuan Jack; Yen, Ju-Chuan; Chiu, Wen-Ta; Jian, Wen-Shan; Syed-Abdul, Shabbir; Hsu, Min-Huei

    2015-08-01

    There are currently 501 hospitals and about 20,000 clinics in Taiwan. The National Health Insurance (NHI) system, which is operated by the NHI Administration, uses a single-payer system and covers 99.9% of the nation's total population of 23,000,000. Taiwan's NHI provides people with a high degree of freedom in choosing their medical care options. However, there is the potential concern that the available medical resources will be overused. The number of doctor consultations per person per year is about 15. Duplication of laboratory tests and prescriptions are not rare either. Building an electronic medical record exchange system is a good method of solving these problems and of improving continuity in health care. In November 2009, Taiwan's Executive Yuan passed the 'Plan for accelerating the implementation of electronic medical record systems in medical institutions' (2010-2012; a 3-year plan). According to this plan, a patient can, at any hospital in Taiwan, by using his/her health insurance IC card and physician's medical professional IC card, upon signing a written agreement, retrieve all important medical records for the past 6 months from other participating hospitals. The focus of this plan is to establish the National Electronic Medical Record Exchange Centre (EEC). A hospital's information system will be connected to the EEC through an electronic medical record (EMR) gateway. The hospital will convert the medical records for the past 6 months in its EMR system into standardized files and save them on the EMR gateway. The most important functions of the EEC are to generate an index of all the XML files on the EMR gateways of all hospitals, and to provide search and retrieval services for hospitals and clinics. The EEC provides four standard inter-institution EMR retrieval services covering medical imaging reports, laboratory test reports, discharge summaries, and outpatient records. In this system, we adopted the Health Level 7 (HL7) Clinical Document

  5. 76 FR 67239 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice and Order Granting...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-10-31

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice and Order Granting Accelerated Approval to Proposed Rule Change, as Modified by Amendment No. 1, Regarding the Submission of Clearing- Related Information for Trades...

  6. 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.

  7. 26 CFR 1.1081-7 - Sale of stock or securities received upon exchange by members of system group.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... to S.e.c. Orders § 1.1081-7 Sale of stock or securities received upon exchange by members of system... corporations which are members of the same system group consists of stock or securities issued by the... 26 Internal Revenue 11 2011-04-01 2011-04-01 false Sale of stock or securities received...

  8. 26 CFR 1.1081-7 - Sale of stock or securities received upon exchange by members of system group.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    .... Orders § 1.1081-7 Sale of stock or securities received upon exchange by members of system group. (a... which are members of the same system group consists of stock or securities issued by the corporation... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Sale of stock or securities received...

  9. 78 FR 59390 - Self-Regulatory Organizations; New York Stock Exchange LLC; NYSE MKT LLC; NYSE Arca, Inc.; Notice...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-09-26

    ...-Regulatory Organizations; New York Stock Exchange LLC; NYSE MKT LLC; NYSE Arca, Inc.; Notice of Designation...' Emergency Powers September 20, 2013. On July 22, 2013, the New York Stock Exchange LLC (``NYSE''), NYSE MKT LLC (``NYSE MKT''), and NYSE Arca, Inc. (``NYSE Arca'' and together with NYSE and NYSE MKT,...

  10. 78 FR 16551 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-15

    ... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the New York Stock Exchange LLC Price List To Increase the Gross...'') \\1\\ and Rule 19b-4 thereunder,\\2\\ notice is hereby given that, on February 26, 2013, New York...

  11. 75 FR 28845 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing of a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-05-24

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Establish a Trading Halt for Individual Stocks Contained in the Standard & Poor's 500 Index That Experience a 10 Percent Price...

  12. 78 FR 47807 - Self-Regulatory Organizations; New York Stock Exchange LLC; NYSE MKT LLC; Order Granting an...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-06

    ... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; NYSE MKT LLC; Order Granting an Extension to Limited Exemptions From Rule 612(c) of Regulation NMS In Connection With the Exchanges' Retail... under Rule 612(c) of Regulation NMS (``Sub-Penny Rule'') \\1\\ that granted the New York Stock...

  13. 77 FR 72423 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-12-05

    ... COMMISSION Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a New Order Type Called the Double Play Order November 29, 2012.... 78s(b)(1). \\2\\ 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of...

  14. 78 FR 28671 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-05-15

    ... COMMISSION Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Consolidate All CHX Order Types, Modifiers, and Related Terms Under... described in Items I and II below, which Items have been prepared by the self-regulatory organization....

  15. 78 FR 14867 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-07

    ... COMMISSION Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a New Order Type Called the Midpoint-Seeker Order and Amend Rule.... 78s(b)(1). \\2\\ 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of...

  16. 78 FR 27461 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Order Granting Approval of Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-05-10

    ... COMMISSION Self-Regulatory Organizations; National Stock Exchange, Inc.; Order Granting Approval of Proposed Rule Change To Adopt a New Order Type Called the ``Auto-Ex Only'' Order and Add New Definitions...\\ and Rule 19b-4 thereunder,\\2\\ a proposed rule change to adopt a new order type called the...

  17. 78 FR 76675 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-18

    ... COMMISSION Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate... Consolidated Tape and Clarify the Operation of the Market Order Type December 12, 2013. Pursuant to Section 19... Organization's Statement of the Terms of Substance of the Proposed Rule Change CHX proposes to amend Article...

  18. 76 FR 23634 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-04-27

    ... COMMISSION Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Add the CHX Only Order Type April 21, 2011. Pursuant to Section 19(b)(1... 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed...

  19. 77 FR 56886 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-09-14

    ... COMMISSION Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate... change from interested persons. \\1\\ 15 U.S.C. 78s(b)(1). \\2\\ 17 CFR 240.19b-4. ] I. Self-Regulatory.... II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the...

  20. 76 FR 7604 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-02-10

    ... COMMISSION Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Expand Use of Self Trade Prevention Order Modifiers February 3, 2011...). \\2\\ 17 CFR 240.19b-4. \\3\\ 17 CFR 240.19b-4(f)(6). I. Self-Regulatory Organization's Statement of...

  1. 75 FR 16540 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-04-01

    ... COMMISSION Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt Rules on Self Trade Prevention Order Modifiers March 25, 2010... as described in Items I, II, and III below, which Items have been substantially prepared by the...

  2. 76 FR 39451 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-06

    ... COMMISSION Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...(b)(1). \\2\\ 17 CFR 240.19b-4. \\3\\ 17 CFR 240.19b-4(f)(6). I. Self-Regulatory Organization's Statement... the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose...

  3. 77 FR 39292 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-02

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE... Establish Related Fees June 26, 2012. Pursuant to Section 19(b)(1) \\1\\ of the Securities Exchange Act of... York Stock Exchange LLC (``NYSE'' or the ``Exchange'') filed with the Securities and...

  4. 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.

  5. Forecasting Stock Exchange Movements Using Artificial Neural Network Models and Hybrid Models

    NASA Astrophysics Data System (ADS)

    Güreşen, Erkam; Kayakutlu, Gülgün

    Forecasting stock exchange rates is an important financial problem that is receiving increasing attention. During the last few years, a number of neural network models and hybrid models have been proposed for obtaining accurate prediction results, in an attempt to outperform the traditional linear and nonlinear approaches. This paper evaluates the effectiveness of neural network models; recurrent neural network (RNN), dynamic artificial neural network (DAN2) and the hybrid neural networks which use generalized autoregressive conditional heteroscedasticity (GARCH) and exponential generalized autoregressive conditional heteroscedasticity (EGARCH) to extract new input variables. The comparison for each model is done in two view points: MSE and MAD using real exchange daily rate values of Istanbul Stock Exchange (ISE) index XU10).

  6. 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.

  7. 75 FR 32832 - Self-Regulatory Organizations; The Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-06-09

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; The Chicago Stock Exchange, Inc.; Notice of Filing and Immediate.... Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \\1\\ and Rule 19b-4...

  8. 77 FR 16298 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-03-20

    ... the New York Stock Exchange Price List March 14, 2012. Pursuant to Section 19(b)(1) of the Securities... The Exchange proposing certain changes to the transaction fees and credits within its Price List... credits within its Price List, which the Exchange proposes to become operative on March 1, 2012.\\3\\...

  9. 76 FR 82340 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-30

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Extending the Operation of Its New Market Model Pilot, Until the Earlier of Securities and Exchange...

  10. 78 FR 1288 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-08

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Extending the Operation of Its New Market Model Pilot Until the Earlier of Securities and Exchange...

  11. 76 FR 617 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-01-05

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Extending the Operation of Its New Market Model Pilot Until the Earlier of Securities and Exchange...

  12. 2004 on Warsaw Stock Exchange via Zipf Analysis, Scatter and Lag Plots

    NASA Astrophysics Data System (ADS)

    Bachnik, W.; Chomiuk, P.; Faltynowicz, Sz.; Gawin, M.; Gorajek, W.; Kedzierski, J.; Kosk, K.; Kucharczyk, A.; Leszczynski, P.; Podsiadlo, R.; Makowiec, D.

    2005-08-01

    This paper presents the last year on Warsaw Stock Exchange (WSE) and world stock exchanges by graphical analysis: Scatter Plot, Zipf Analysis and Lag Plot of selected Polish (WIG, WIG20, WIG-BANKI, TECHWIG) and foreign (NIKKEI, DOW JONES Industrial Average) indices, and also selected companies listed on WSE. Zipf analysis proves that although, generally, holding securities was the best way to earn money in the last year, however, Zipf based strategy also could be profitable. Scatter Plots show no similarities between Polish and foreign indices, however, behaviour of Polish ones is similar. The volatility of indices and most companies was highest on Monday and lowest on Friday. Distribution of returns in continuous trading is neither Gaussian nor uniform.

  13. Profitability of simple technical trading rules of Chinese stock exchange indexes

    NASA Astrophysics Data System (ADS)

    Zhu, Hong; Jiang, Zhi-Qiang; Li, Sai-Ping; Zhou, Wei-Xing

    2015-12-01

    Although technical trading rules have been widely used by practitioners in financial markets, their profitability still remains controversial. We here investigate the profitability of moving average (MA) and trading range break (TRB) rules by using the Shanghai Stock Exchange Composite Index (SHCI) from May 21, 1992 through December 31, 2013 and Shenzhen Stock Exchange Component Index (SZCI) from April 3, 1991 through December 31, 2013. The t-test is adopted to check whether the mean returns which are conditioned on the trading signals are significantly different from unconditioned returns and whether the mean returns conditioned on the buy signals are significantly different from the mean returns conditioned on the sell signals. We find that TRB rules outperform MA rules and short-term variable moving average (VMA) rules outperform long-term VMA rules. By applying White's Reality Check test and accounting for the data snooping effects, we find that the best trading rule outperforms the buy-and-hold strategy when transaction costs are not taken into consideration. Once transaction costs are included, trading profits will be eliminated completely. Our analysis suggests that simple trading rules like MA and TRB cannot beat the standard buy-and-hold strategy for the Chinese stock exchange indexes.

  14. 78 FR 39407 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-01

    ... subsidiaries--the London, Paris, Amsterdam, Brussels and Lisbon stock exchanges, as well as the derivatives markets in London, Paris, Amsterdam, Brussels and Lisbon (with certain qualifications and exceptions...

  15. 77 FR 11181 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-02-24

    ... Exchange further proposes to expand the references to Rules 104 and 123D to add new elements to the Rule... also appropriate to add new elements relating to Rule 104 and 123D to the Rule 476A List. Rule 104 NYSE... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed...

  16. 78 FR 42813 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-17

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...% Quorum Requirement and Add Certain Clarifying Language July 11, 2013. Pursuant to Section 19(b)(1) of...

  17. 77 FR 47161 - Self-Regulatory Organizations; New York Stock Exchange LLC; NYSE Arca, Inc.; NYSE MKT LLC; Order...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-07

    ... mechanism of a free and open market and a national market system, and, in general, to protect investors and... From the Federal Register Online via the Government Publishing Office ] SECURITIES AND EXCHANGE...-Regulatory Organizations; New York Stock Exchange LLC; NYSE Arca, Inc.; NYSE MKT LLC; Order Granting...

  18. 78 FR 63530 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Granting Approval to Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-10-24

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Order Granting Approval to Proposed Rule Change Amending NYSE Rules 451 and 465, and the Related Provisions of Section 402.10 of the NYSE Listed Company Manual, Which Provide...

  19. 78 FR 30378 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-05-22

    ... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of a Proposed Rule... Regulation''), To Eliminate a Requirement That Not Less Than Two Members of the Board of Directors of NYSE... the Securities Exchange Act of 1934 (the ``Act''),\\1\\ and Rule 19b-4 thereunder,\\2\\ notice is...

  20. 77 FR 56895 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-09-14

    ... Effectiveness of Proposed Rule Change Amending the New York Stock Exchange LLC Price List To Make Changes to Certain Transaction Fees To Eliminate the Step-Up Rate for Non-Floor Broker Transactions September 10, 2012. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \\1\\ and Rule...

  1. 78 FR 2306 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-10

    ... Effectiveness of Proposed Rule Change Eliminating Certain Credits Within the New York Stock Exchange LLC Price..., the Proposed Rule Change 1. Purpose The Exchange proposes to eliminate certain credits within its...\\ and Rule 19b-4 thereunder,\\2\\ notice is hereby given that, on December 21, 2012, New York...

  2. 77 FR 20870 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-04-06

    ... approval from NYSE Rules 304, 308, and 311. The Exchange also proposed to eliminate use of the Forms AP-1... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving a Proposed Rule Change Amending the Definition of Approved Person To Exclude Foreign Affiliates, Eliminating the...

  3. 78 FR 70987 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-11-27

    ... pricing for the ``Cabinet Proximity Option'' available to users of co-location facilities of The NASDAQ... Effectiveness of Proposed Rule Change To Amend the New York Stock Exchange Price List Related to Co-Location... Proposed Rule Change The Exchange proposes to amend its Price List related to co- location services...

  4. 77 FR 1769 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-01-11

    ... Change by New York Stock Exchange LLC To Amend the Schedule of Rebates Paid to Supplemental Liquidity Providers for Providing Liquidity January 5, 2012. Pursuant to Section 19(b)(1) of the Securities Exchange... proposes to amend its Price List to revise its schedule of rebates paid to Supplemental Liquidity...

  5. 78 FR 75432 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-11

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Price List To Specify the Exclusion of Odd Lot Transactions From Consolidated Average Daily...

  6. 75 FR 4600 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-01-28

    ... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change Relating to Changes in NYSE Realtime Reference Prices Service January 22, 2010. I. Introduction On November... Proposal The Exchange proposes several changes to the NYSE Realtime Reference Prices service. In a...

  7. 76 FR 57089 - Self-Regulatory Organizations; Chicago Stock Exchange, Incorporated; Order Approving a Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-09-15

    ... .01 Thereunder Regarding the Cancellation of the Stock Leg of Stock- Option Transactions Done on the... Policy .01 thereunder regarding the cancellation of the stock leg of stock-option transactions done on..., Institutional Stock & Options, dated July 28, 2011 (``Bristow''); Nick DiCicco, D and D Securities, dated...

  8. Estimating Carbon Stocks and Atmospheric Exchange of Depressional Marshes on the Central Florida Landscape

    NASA Astrophysics Data System (ADS)

    Benscoter, B.; McClellan, M. D.; Benavides, V.; Harshbarger, D.; Comas, X.

    2014-12-01

    Depressional marshes are ubiquitous throughout central and south Florida. Often distributed within a matrix of sandy pine flatwoods and hammocks, these wetlands have a seasonally variable water table, alternating between inundation and complete drydown. Though these landforms are typically small individually, they comprise a substantial component of the landscape and provide vital habitat for an array of flora and fauna. Given their fluctuating hydrology, conditions for soil and plant carbon (C) exchange mechanisms can vary greatly both spatially and temporally. In this study, we are developing a C budget for depressional marsh landforms by assessing ecosystem carbon exchange along an ecotone gradient and quantifying belowground C stocks using non-invasive geophysical methods (ground penetrating radar, GPR) at the Disney Wilderness Preserve (DWP) in Kissimmee, FL, USA. Using a series of closed chambers transecting the marsh from the center outward into the surrounding flatwoods, we are quantifying the effects of seasonal water table change on the magnitude of C exchange. Three dimensional GPR surveys were used to quantify peat layer thickness, and were constrained with direct core sampling to verify subsurface lithology and to assess peat C content. Using the relationship between landform surface area and belowground C volume, we assessed the cumulative C storage in depressional marshes across the DWP landscape. In conjunction with a nearby eddy covariance tower and seasonal hydrologic data, these response functions will help to evaluate the contribution of these small but widespread landscape features on regional C cycling.

  9. The dynamics of stock exchange based on the formalism of weak continuous quantum measurement

    NASA Astrophysics Data System (ADS)

    Melnyk, S.; Tuluzov, I.

    2010-07-01

    The problem of measurement in economic models and the possibility of their quantum-mechanical description are considered. It is revealed that the apparent paradox of such a description is associated with a priori requirement of conformity of the model to all the alternatives of free choice of the observer. The measurement of the state of a trader on a stock exchange is formally defined as his responses to the proposals of sale at a fixed price. It is shown that an analogue of Bell's inequalities for this measurement model is violated at the most general assumptions related to the strategy of the trader and requires a quantum-mechanical description of the dynamics of his condition. In the framework of the theory of weak continuous quantum measurements, the equation of stock price dynamics and the quantum-mechanical generalization of the F. Black and M. Scholes model for pricing options are obtained. The fundamental distinctions between the obtained model and the classical one are discussed.

  10. 77 FR 71023 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-28

    ... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate... Order Acceptance Cut-Off Time Cannot Be Past 4:30 p.m. November 21, 2012. Pursuant to Section 19(b)(1... below, which Items have been prepared by the self-regulatory organization. The Commission is...

  11. 78 FR 18377 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Designation of a Longer...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-26

    ... COMMISSION Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Adopt a New Order Type Called the ``Auto-Ex Only... new order type called the ``Auto-Ex Only'' Order. The proposed rule change was published for...

  12. 75 FR 36737 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-06-28

    ... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate... self-regulatory ] organization. The Commission is publishing this notice to solicit comments on the....19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed...

  13. 76 FR 71399 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-11-17

    ... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule... by the self-regulatory organization. The Commission is publishing this notice to solicit comments on.... Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change...

  14. 75 FR 56152 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Order Granting...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-09-15

    ... Accelerated Approval of a Proposed Rule Change To Amend NYSE Rule 452 and Listed Company Manual Section 402.08 To Eliminate Broker Discretionary Voting on Executive Compensation Matters September 9, 2010... Rule 19b-4 thereunder,\\2\\ notice is hereby given that on August 26, 2010, New York Stock Exchange...

  15. 78 FR 40252 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-03

    ... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving a Proposed Rule Change... Regulation''), To Eliminate a Requirement That Not Less Than Two Members of the Board of Directors of NYSE...\\ and Rule 19b-4 thereunder,\\2\\ a proposed rule change to amend the bylaws of its...

  16. 76 FR 6167 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-02-03

    ...] Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change, as Modified by Amendment No. 1, in Connection With the Proposal of NYSE Euronext To Eliminate the Requirement... (``Act''),\\1\\ and Rule 19b-4 thereunder,\\2\\ a proposed rule change to amend the Bylaws of its...

  17. 76 FR 18278 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-04-01

    ... COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate... Short Sale Orders During a Period When the Short Sale Price Test Restrictions of Rule 201 of Regulation... have been substantially prepared by the self- regulatory organization. The Commission is...

  18. Emotions and Pair Trust in Asynchronous Hospitality Cultural Exchange for Students in Taiwan and Hong Kong

    ERIC Educational Resources Information Center

    Wang, Mei-jung; Chen, Hsueh Chu

    2012-01-01

    Social and emotional dynamics have an impact on students' learning processes in online-learning situations. This study explores university students' emotions and trust levels resulting from collaborative communication behaviors when they interacted as part of a Food and Tourism course in Taiwan and Hong Kong. More specifically, students' emotions…

  19. 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.

  20. Effect of Taiwan mutation (D7H) on structures of amyloid-β peptides: replica exchange molecular dynamics study.

    PubMed

    Truong, Phan Minh; Viet, Man Hoang; Nguyen, Phuong H; Hu, Chin-Kun; Li, Mai Suan

    2014-07-31

    Recent experiments have shown that the Taiwan mutation (D7H) slows the fibril formation of amyloid peptides Aβ40 and Aβ42. Motivated by this finding, we have studied the influence of D7H mutation on structures of Aβ peptide monomers using the replica exchange molecular dynamics simulations with OPLS force field and implicit water model. Our study reveals that the mechanism behind modulation of aggregation rates is associated with decrease of β-content and dynamics of the salt bridge D23-K28. Estimating the bending free energy of this salt bridge, we have found that, in agreement with the experiments, the fibril formation rate of both peptides Aβ40 and Aβ42 is reduced about two times by mutation.

  1. Evaluating Kuala Lumpur stock exchange oriented bank performance with stochastic frontiers

    SciTech Connect

    Baten, M. A.; Maznah, M. K.; Razamin, R.; Jastini, M. J.

    2014-12-04

    Banks play an essential role in the economic development and banks need to be efficient; otherwise, they may create blockage in the process of development in any country. The efficiency of banks in Malaysia is important and should receive greater attention. This study formulated an appropriate stochastic frontier model to investigate the efficiency of banks which are traded on Kuala Lumpur Stock Exchange (KLSE) market during the period 2005–2009. All data were analyzed to obtain the maximum likelihood method to estimate the parameters of stochastic production. Unlike the earlier studies which use balance sheet and income statements data, this study used market data as the input and output variables. It was observed that banks listed in KLSE exhibited a commendable overall efficiency level of 96.2% during 2005–2009 hence suggesting minimal input waste of 3.8%. Among the banks, the COMS (Cimb Group Holdings) bank is found to be highly efficient with a score of 0.9715 and BIMB (Bimb Holdings) bank is noted to have the lowest efficiency with a score of 0.9582. The results also show that Cobb-Douglas stochastic frontier model with truncated normal distributional assumption is preferable than Translog stochastic frontier model.

  2. Evaluating Kuala Lumpur stock exchange oriented bank performance with stochastic frontiers

    NASA Astrophysics Data System (ADS)

    Baten, M. A.; Maznah, M. K.; Razamin, R.; Jastini, M. J.

    2014-12-01

    Banks play an essential role in the economic development and banks need to be efficient; otherwise, they may create blockage in the process of development in any country. The efficiency of banks in Malaysia is important and should receive greater attention. This study formulated an appropriate stochastic frontier model to investigate the efficiency of banks which are traded on Kuala Lumpur Stock Exchange (KLSE) market during the period 2005-2009. All data were analyzed to obtain the maximum likelihood method to estimate the parameters of stochastic production. Unlike the earlier studies which use balance sheet and income statements data, this study used market data as the input and output variables. It was observed that banks listed in KLSE exhibited a commendable overall efficiency level of 96.2% during 2005-2009 hence suggesting minimal input waste of 3.8%. Among the banks, the COMS (Cimb Group Holdings) bank is found to be highly efficient with a score of 0.9715 and BIMB (Bimb Holdings) bank is noted to have the lowest efficiency with a score of 0.9582. The results also show that Cobb-Douglas stochastic frontier model with truncated normal distributional assumption is preferable than Translog stochastic frontier model.

  3. Dynamic C and N stocks - key factors controlling the C gas exchange of maize in heterogenous peatland

    NASA Astrophysics Data System (ADS)

    Pohl, M.; Hoffmann, M.; Hagemann, U.; Giebels, M.; Albiac Borraz, E.; Sommer, M.; Augustin, J.

    2015-05-01

    The drainage and cultivation of fen peatlands create complex small-scale mosaics of soils with extremely variable soil organic carbon (SOC) stocks and groundwater levels (GWLs). To date, the significance of such sites as sources or sinks for greenhouse gases such as CO2 and CH4 is still unclear, especially if the sites are used for cropland. As individual control factors such as GWL fail to account for this complexity, holistic approaches combining gas fluxes with the underlying processes are required to understand the carbon (C) gas exchange of drained fens. It can be assumed that the stocks of SOC and N located above the variable GWL - defined as dynamic C and N stocks - play a key role in the regulation of the plant- and microbially mediated CO2 fluxes in these soils and, inversely, for CH4. To test this assumption, the present study analysed the C gas exchange (gross primary production - GPP; ecosystem respiration - Reco; net ecosystem exchange - NEE; CH4) of maize using manual chambers for 4 years. The study sites were located near Paulinenaue, Germany, where we selected three soil types representing the full gradient of GWL and SOC stocks (0-1 m) of the landscape: (a) Haplic Arenosol (AR; 8 kg C m-2); (b) Mollic Gleysol (GL; 38 kg C m-2); and (c) Hemic Histosol (HS; 87 kg C m-2). Daily GWL data were used to calculate dynamic SOC (SOCdyn) and N (Ndyn) stocks. Average annual NEE differed considerably among sites, ranging from 47 ± 30 g C m-2 yr-1 in AR to -305 ± 123 g C m-2 yr-1 in GL and -127 ± 212 g C m-2 yr-1 in HS. While static SOC and N stocks showed no significant effect on C fluxes, SOCdyn and Ndyn and their interaction with GWL strongly influenced the C gas exchange, particularly NEE and the GPP : Reco ratio. Moreover, based on nonlinear regression analysis, 86% of NEE variability was explained by GWL and SOCdyn. The observed high relevance of dynamic SOC and N stocks in the aerobic zone for plant and soil gas exchange likely originates from the

  4. Dynamic C and N stocks - key factors controlling the C gas exchange of maize in a heterogenous peatland

    NASA Astrophysics Data System (ADS)

    Pohl, M.; Hoffmann, M.; Hagemann, U.; Giebels, M.; Albiac Borraz, E.; Sommer, M.; Augustin, J.

    2014-11-01

    Drainage and cultivation of fen peatlands creates complex small-scale mosaics of soils with extremely variable soil organic carbon (SOC) stocks and groundwater-level (GWL). To date, it remains unclear if such sites are sources or sinks for greenhouse gases like CO2 and CH4, especially if used for cropland. As individual control factors like GWL fail to account for this complexity, holistic approaches combining gas fluxes with the underlying processes are required to understand the carbon (C) gas exchange of drained fens. It can be assumed that the stocks of SOC and N located above the variable GWL - defined as dynamic C and N stocks - play a key role in the regulation of plant- and microbially mediated C gas fluxes of these soils. To test this assumption, the present study analysed the C gas exchange (gross primary production - GPP, ecosystem respiration - Reco, net ecosystem exchange - NEE, CH4) of maize using manual chambers for four years. The study sites were located near Paulinenaue, Germany. Here we selected three soils, which represent the full gradient in pedogenesis, GWL and SOC stocks (0-1 m) of the fen peatland: (a) Haplic Arenosol (AR; 8 kg C m-2); (b) Mollic Gleysol (GL; 38 kg C m-2); and (c) Hemic Histosol (HS; 87 kg C m-2). Daily GWL data was used to calculate dynamic SOC (SOCdyn) and N (Ndyn) stocks. Average annual NEE differed considerably among sites, ranging from 47 ± 30 g C m-2 a-1 at AR to -305 ± 123 g C m-2 a-1 at GL and -127 ± 212 g C m-2 a-1 at HS. While static SOC and N stocks showed no significant effect on C fluxes, SOCdyn and Ndyn and their interaction with GWL strongly influenced the C gas exchange, particularly NEE and the GPP:Reco ratio. Moreover, based on nonlinear regression analysis, 86% of NEE variability was explained by GWL and SOCdyn. The observed high relevance of dynamic SOC and N stocks in the aerobic zone for plant and soil gas exchange likely originates from the effects of GWL-dependent N availability on C formation and

  5. 78 FR 13919 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-01

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE.... Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Exchange Act''),\\1\\ and Rule 19b-4.... (``CHX'' or the ``Exchange'') filed with the Securities and Exchange Commission (``Commission'')...

  6. 78 FR 11258 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-15

    ... negative to the Exchange. The Exchange notes that the rates associated with the fees being charged and... resulting in transaction that is revenue negative to the Exchange. As stated above, the rates associated... are uncapped, thus resulting in transaction that is revenue negative to the Exchange. The Exchange...

  7. 78 FR 57431 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-09-18

    ... Error Correction Transactions, and the Cancellation or Adjustment of Stock Leg Trades of Stock-Option or... requirements for the cancellation of the stock leg trade of a Stock-Option order, to establish new requirements for the adjustment of the stock leg trade of a Stock-Option order, and to allow the stock leg trade...

  8. 76 FR 44638 - Self-Regulatory Organizations; Chicago Stock Exchange, Incorporated; Notice of Filing of Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-26

    ... Executed on the Exchange as Well as for Trades Executed Otherwise Than on the Exchange July 20, 2011... well as purchases or sales of securities by the third party broker-dealer on another exchange or...

  9. 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...

  10. 78 FR 5236 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-24

    ... Effectiveness of Proposed Rule Change to Provide for the Payment of Exchange Fees Through an Integrated Billing...-related services through the Exchange's integrated billing system (``IBS''). \\3\\ Exchange Rule 1.5 defines... Clearing Agency as a means to add clarity to the integrated billing solution ] under proposed Exchange...

  11. 78 FR 78424 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-26

    ... Exchange's trading facilities, encourage order flow, and allow the Exchange to remain competitive in today... using any facility or system which the Exchange operates or controls, and does not unfairly discriminate... incent activity among all Participants within the Exchange's trading facilities. Solicitation of...

  12. Purification of recombinant adeno-associated virus type 8 vectors by ion exchange chromatography generates clinical grade vector stock.

    PubMed

    Davidoff, Andrew M; Ng, Catherine Y C; Sleep, Susan; Gray, John; Azam, Selina; Zhao, Yuan; McIntosh, Jenny H; Karimipoor, Morteza; Nathwani, Amit C

    2004-11-01

    Recombinant vectors based on the recently isolated AAV serotype 8 (rAAV-8) shows great promise for gene therapy, particularly for disorders affecting the liver. Transition of this vector system to the clinic, however, is limited by the lack of an efficient scaleable purification method. In this report, we describe a simple method for purification of rAAV-8 vector particles based on ion exchange chromatography that generates vector stocks with greater than 90% purity. The average yield of purified rAAV-8 from five different vector preparation was 41%. Electron microscopy of these purified stocks revealed typical icosohedral virions with less than 10% empty particles. Liver targeted delivery of ion-exchange purified rAAV-8 vector encoding the human factor IX (hFIX) gene, resulted in plasma hFIX levels approaching 30% of normal in immunocompetent mice, which is 20-fold higher than observed with an equivalent number of rAAV-5 ion exchange purified vector particles. The method takes less then 5 h to process and purify rAAV-8 vector from producer cells and represents a significant advance on the CsCl density centrifugation technique in current use for purification of rAAV-8 vector systems and will likely facilitate the transition of the rAAV-8 vector system to the clinic.

  13. 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

  14. Corporate Characteristics and Internal Control Information Disclosure- Evidence from Annual Reports in 2009 of Listed Companies in Shenzhen Stock Exchange

    NASA Astrophysics Data System (ADS)

    Xiaowen, Song

    Under the research framework of internal control disclosure and combined the current economic situation, the paper empirically analyzes the relationship between corporate characteristics and internal control information disclosure. The paper selects 647 A share companies listed in Shenzhen Stock Exchanges in 2009 as a sample. The results show: (1) the companies with excellent performance and high liquidity tend to disclose more internal control information; (2) the companies with the high leverage and also issued B shares are not willing to disclosure internal control information; (3) the companies sizes and companies which have hired Four-big accounting firms have no significant effects on internal control disclosure.

  15. 76 FR 45626 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-29

    ... Processing Fees for fingerprinting, background checks and the provision of access badges by the Exchange.\\5\\ The Exchange no longer provides either fingerprinting or background checking services for current...

  16. 76 FR 41853 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-15

    ... Effectiveness of Proposed Rule Change To Alter Its Fee Schedule To Increase its SRO, DEA and Off-Exchange Trader..., to alter its schedule of fees for Participants relating to its SRO, Off-Exchange trader and DEA fees... existing SRO, Off-Exchange trader and DEA fees. These fee changes are being proposed in response to...

  17. 77 FR 64571 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-10-22

    ....'' See Exchange Rule 1.5. The text of the proposed rule change is available on the Exchange's Web site at... is a Reserve Order for which the entire order size remains hidden or undisplayed. Exchange Rule 11.15... the Commission's Internet Web site ( http://www.sec.gov/rules/sro.shtml ). Copies of the...

  18. 78 FR 70085 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-11-22

    ... Effectiveness of Proposed Rule Change To Correct Certain Rule Taxonomy Issues and Postpone Until December 2...) to correct certain taxonomy issues and to adopt an operative date of December 2, 2013 for all changes... (Cancellation or Adjustment of Stock Leg Trades) to correct certain taxonomy issues and to adopt an...

  19. 78 FR 9983 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-12

    ..., among other things, expand the pilot to include all NMS stocks not already included therein was... the following methods: Electronic Comments Use the Commission's Internet comment form ( http://www.sec... one method. The Commission will post all comments on the Commission's Internet Web site (...

  20. Diffusive exchange of PAHs across the air-water interface of the Kaohsiung Harbor lagoon, Taiwan.

    PubMed

    Fang, Meng-Der; Lee, Chon-Lin; Jiang, Jheng-Jie; Ko, Fung-Chi; Baker, Joel E

    2012-11-15

    Instantaneous air-water polycyclic aromatic hydrocarbons (PAHs) exchange fluxes were calculated in 22 pairs of ambient air and water samples from Kaohsiung Harbor lagoon, from December 2003 to January 2005. The highest net volatilization (3135 ng m(-2) day(-1)) and absorptive (-1150 ng m(-2) day(-1)) fluxes in the present study were obtained for the three-ring PAH phenanthrene on 7 April and 27 January 2004, respectively. All PAH diffusive fluxes for three-ring PAHs except phenanthrene were mainly volatilization exchange across the air-water interface. Phenanthrene and the four-ring PAHs were absorbed primarily from the atmosphere and deposited to the surface water, although some minor volatilization fluxes were also observed. Differences in flux magnitude and direction between the dry and wet seasons were also evident for PAHs. Strong absorptive/weaker volatilization PAH fluxes occurred in the dry season, but the opposite was found in the wet season. The mean daily PAH diffusive fluxes were an in flux of -635 ng m(-2) day(-1) in the dry season and an efflux of 686 ng m(-2) day(-1) in the wet season. The integrated absorbed and emitted fluxes of PAHs for harbor lagoon surface waters in the dry and wet seasons were 3.1 kg and 3.4 kg, respectively. Different from water bodies located in temperate zone, phenanthrene diffusive fluxes in Kaohsiung Harbor lagoon was favored in volatilization from surface waters during the wet season (April to September) because of scavenging by precipitation and dilution by prevailing southwesterly winds. In addition, this study used both of salinity and temperature to improve estimation of Henry's law constants (H) of PAHs in a tropical coastal area and show that correction for salinity produced 13-15% of differences in H values.

  1. 78 FR 3058 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-15

    ... Exchange's Order Delivery Mode provides Electronic Communication Networks (``ECNs'') with an electronic... change that are filed with the Commission, and all written communications relating to the proposed...

  2. 76 FR 51439 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-18

    ... dissemination of information for the security (``Latency Trades''). \\3\\ For purposes of this filing, the term...), Latency Trades will be broken by the Exchange if they exceed the applicable percentage from the Reference... Pause Trigger Price''). As such, Latency Trades that occur on the Exchange would be broken by...

  3. 78 FR 72731 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-03

    ... Change 1. Purpose The Exchange does not currently offer Match Trade Prevention (``MTP'') functionality. The Exchange now proposes to adopt Article 1, Rule 2(b)(3)(F) to offer MTP functionality for limit \\4... proposed MTP order execution modifier, Participants may prevent the execution of marketable...

  4. 77 FR 49848 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-17

    ... Effectiveness of Proposed Rule Change To Modify the Text of NSX Rule 11.15 To Clarify the Manner in Which... text of NSX Rule 11.15 to clarify the manner in which certain orders are routed by the Exchange to other market centers. The text of the proposed rule change is available on the Exchange's Web site...

  5. 78 FR 8638 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-06

    ... period for the LULD Plan. The current Exchange Rule 11.20A would remain in effect until April 8, 2013. If... version of Exchange Rule 11.20A would be in effect. \\3\\ The Commission approved the proposed changes to... an Information Memo and is available on the NYSE's Web site.\\4\\ The values then remain in...

  6. 77 FR 47481 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-08

    ... the principles of Section 11A(a)(1) \\11\\ of the Act in that it seeks to assure fair competition among... immediately after a Trigger Trade but before a trading pause is in effect on the Exchange. Further, the... Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule...

  7. 78 FR 15065 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-08

    ... automatic execution mode of interaction (``Auto-Ex Mode'') \\5\\ to remove liquidity in a security that is... Facilities. \\4\\ NSX Rule 11.11(c)(13). See also SR-NSX-2013-07. \\5\\ Under Auto-Ex mode the Exchange matches... share when using a Midpoint-Seeker Order in the Exchange's Auto-Ex Mode to remove liquidity in...

  8. 76 FR 62126 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-10-06

    ... Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Eliminate Certain... Statement of the Terms of Substance of the Proposed Rule Change CHX proposes to amend its rules to eliminate... waiver will allow the Exchange to implement the change right away. The proposed rule change...

  9. 76 FR 72739 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-11-25

    ... for clearance and settlement.\\5\\ \\5\\ See Securities Exchange Act Rel. No. 65615 (Oct. 24, 2011), 76 FR 67239 (Oct. 31, 2011) (SR-CHX-2011-17) which added Article 21, Rule 6 describing the process by which... Securities Exchange Act Rel. No. 65633 (Oct. 26, 2011), 76 FR 67509 (Nov. 1, 2011) (SR-CHX-2011-29)....

  10. 75 FR 14219 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-03-24

    ... the ordinary course of business in which an officer, director or substantial security holder has a... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE... Securities Exchange Act of 1934 (``Act''),\\1\\ and Rule 19b-4 \\2\\ thereunder, notice is hereby given that...

  11. 77 FR 34422 - Self-Regulatory Organizations; Chicago Stock Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-06-11

    ... suspension is contingent upon Apex Clearing having complied with all Exchange rules related to new... Liability Companies: Operation Agreement and Articles of Organization or Certificate of Formation. For all... proposed this temporary suspension is contingent upon: Apex Clearing providing the Exchange with...

  12. 26 CFR 1.1036-1 - Stock for stock of the same corporation.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 26 Internal Revenue 11 2011-04-01 2011-04-01 false Stock for stock of the same corporation. 1.1036...) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1036-1 Stock for stock of..., of common stock for common stock, or of preferred stock for preferred stock, in the same...

  13. 26 CFR 1.1036-1 - Stock for stock of the same corporation.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 26 Internal Revenue 11 2012-04-01 2012-04-01 false Stock for stock of the same corporation. 1.1036...) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1036-1 Stock for stock of..., of common stock for common stock, or of preferred stock for preferred stock, in the same...

  14. 26 CFR 1.1036-1 - Stock for stock of the same corporation.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 26 Internal Revenue 11 2014-04-01 2014-04-01 false Stock for stock of the same corporation. 1.1036...) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1036-1 Stock for stock of..., of common stock for common stock, or of preferred stock for preferred stock, in the same...

  15. 26 CFR 1.1036-1 - Stock for stock of the same corporation.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 26 Internal Revenue 11 2013-04-01 2013-04-01 false Stock for stock of the same corporation. 1.1036...) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1036-1 Stock for stock of..., of common stock for common stock, or of preferred stock for preferred stock, in the same...

  16. 78 FR 60954 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-10-02

    ... America Corp. (``BAC''), Nokia Corporation (``NOK''), and Sirius XM Radio Inc. (``SIRI''). See Exchange... efficiently, please use only one method. The Commission will post all comments on the Commission's...

  17. 78 FR 61413 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-10-03

    ... amounts. As a final matter, the Exchange proposes to amend the initial subtitle to the Fee Schedule to... considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C....

  18. 76 FR 33794 - Self-Regulatory Organizations; Chicago Stock Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-06-09

    ... Trading System (``SBT System''). Under CBOE Rule 43.2(a), the Exchange has the discretion to determine which orders under the rule may be accommodated on the SBT System. Currently, all orders sent to...

  19. 77 FR 71022 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-28

    ... Effectiveness of Proposed Rule Change To Clarify the Operation of the Exchange's Depth-of-Book Feed November 21... manner in which it distributes the NSX depth-of-book feed (``DOB feed'') to authorized recipients....

  20. The use of copula functions for modeling the risk of investment in shares traded on the Warsaw Stock Exchange

    NASA Astrophysics Data System (ADS)

    Domino, Krzysztof; Błachowicz, Tomasz

    2014-11-01

    In our work copula functions and the Hurst exponent calculated using the local Detrended Fluctuation Analysis (DFA) were used to investigate the risk of investment made in shares traded on the Warsaw Stock Exchange. The combination of copula functions and the Hurst exponent calculated using local DFA is a new approach. For copula function analysis bivariate variables composed of shares prices of the PEKAO bank (a big bank with high capitalization) and other banks (PKOBP, BZ WBK, MBANK and HANDLOWY in decreasing capitalization order) and companies from other branches (KGHM-mining industry, PKNORLEN-petrol industry as well as ASSECO-software industry) were used. Hurst exponents were calculated for daily shares prices and used to predict high drops of those prices. It appeared to be a valuable indicator in the copula selection procedure, since Hurst exponent’s low values were pointing on heavily tailed copulas e.g. the Clayton one.

  1. The technical analysis of the stock exchange and physics: Japanese candlesticks for solar activity

    NASA Astrophysics Data System (ADS)

    Dineva, C.; Atanasov, V.

    2013-09-01

    In this article, we use the Japanese candlesticks, a method popular in the technical analysis of the Stock/Forex markets and apply it to a variable in physics-the solar activity. This method is invented and used exclusively for economic analysis and its application to a physical problem produced unexpected results. We found that the Japanese candlesticks are convenient tool in the analysis of the variables in the physics of the Sun. Based on our observations, we differentiated a new cycle in the solar activity.

  2. 77 FR 74536 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-12-14

    ... communicating the details of the full or partial quantity of an inbound contra-side order that potentially may... data product. Order Delivery Mode is a unique market structure that costs more to operate and regulate... model and technology, the Exchange maintains this high cost structure to foster competition...

  3. 77 FR 67849 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-14

    ... mode of interaction are required to maintain at least two (2) FIX Ports (one to receive inbound trade... fee will help recover some cost associated with the upgrade and help maintain the equipment in the... Exchange, Inc. (``CBSX'').\\3\\ Moreover, following these changes, NSX connectivity costs will still be...

  4. 77 FR 74533 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-12-14

    ... the full or partial quantity of an inbound contra-side order that potentially may be matched within... of recouping costs associated with regulating the marketplace and the Order Delivery program. The... necessary to equitably allocate regulatory costs among Order Delivery participants. The Exchange will...

  5. 75 FR 62910 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-10-13

    ... changes to the Fee Schedule and will post a copy of the rule filing on the Exchange's website ( http://www... that it is designed to provide for the equitable allocation of reasonable dues, fees and other charges....C. 552, will be available for website viewing and printing in the Commission's Public...

  6. 78 FR 69900 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-11-21

    ...''); Google Inc. (``GOOG''); Bank of America Corp (``BAC''); Nokia Corporation (``NOK''); and Sirius Radio... and rebates applicable to Auto Ex Mode will operate to incentivize ETP Holders to post additional... addition to BAC, NOK, and SIRI. See Exchange Act Release No. 34-69941; 78 FR 41966; SR-NSX-2013-14....

  7. 77 FR 39767 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-05

    ... rebate tier depends on an ETP Holder's ADV. Endnote 3 provides that ``ADV'' means, with respect to an ETP... occurred. Endnote 3 further clarifies that ``ADV'' as used with respect to the Exchange's Automatic.... Endnote 5, which is proposed to apply to each of the four rebate tiers in Order Delivery, provides that...

  8. 78 FR 35082 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-06-11

    ... the value of the Near order multiplier (``N mult '') from two (2) to four (4) for all security-types...-type specific parameter values, such as the N mult , in order to permit the Exchange to make... in footnote 10 of SR-CHX-2012-15 that ``changes to any of the proposed parameter values,...

  9. 78 FR 16325 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-14

    ... the Exchange Act \\32\\ by promoting just and equitable principles of trade, removing impediments to... maintain priority, or canceled in a manner that promotes just and equitable principles of trade and removes... treated. Ultimately, by reducing uncertainty regarding the treatment and priority of a trading...

  10. 78 FR 4910 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Order Granting Approval of Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-23

    ... companies listed for trading on the exchanges' markets observe good governance practices, including a... several provisions of NSX Rule 15.5(d), ``Listed Company Corporate Governance Requirements.'' \\17... unnecessarily burdensome alteration in their governance structures to require them to comply with the...

  11. 77 FR 2103 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-01-13

    ...'s Brokerplex order entry, recordation, and management system. The text of this proposed rule change... Effectiveness of Proposed Rule Change To Add a Rule Regarding the Brokerplex Order Entry, Recordation, and Management System January 9, 2012. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934...

  12. 76 FR 50784 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-16

    ... Effectiveness of a Proposed Rule Change To Extend the Pilot Program Relating to Individual Securities Circuit... securities circuit breakers. The text of this proposed rule change is available on the Exchange's Web site at..., CHX obtained Commission approval to amend Article 20, Rule 2 to create circuit breakers in...

  13. 76 FR 74088 - Self-Regulatory Organizations; Chicago Stock Exchange, Incorporated; Notice of Filing Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-11-30

    ... Rule Change To Exclude Rights and Warrants From the Individual Securities Circuit Breaker Rule November... circuit breaker rule. The text of this proposed rule change is available on the Exchange's Web site at... warrants from the individual securities circuit breaker under the rule. The Commission approved Article...

  14. 78 FR 21485 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-10

    ... Effectiveness of Proposed Rule Change To Amend its Rule 11.24, Limit Up/Limit Down April 4, 2013. Pursuant to... Market Volatility'' or ``Plan''),\\3\\ also known as Limit Up/Limit Down. The Exchange has designated this....24, Limit Up-Limit Down, addresses the treatment of certain orders to prevent executions outside...

  15. 76 FR 56248 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-09-12

    ... things, the removal of the Exchange's tiered fee and rebate structure will simplify the Fee Schedule by... by any of the following methods: Electronic Comments Use the Commission's Internet comment form... efficiently, please use only one method. The Commission will post all comments on the Commission's...

  16. 78 FR 9981 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-12

    ... Effectiveness of Proposed Rule Change Amending CHX Article 20, Rule 2, Which Provides for, Among Other Things... Proposed Rule Change CHX proposes to amend CHX Article 20, Rule 2, which provides, among other things, for.... Purpose The Exchange proposes to amend CHX Article 20, Rule 2, which provides for, among other...

  17. 78 FR 41966 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-12

    ...(a). \\5\\ The five select securities include Advanced Micro Devices, Inc. (``AMD''), Bank of America... routing of the Double Play Order, it will attract additional liquidity from ETP Holders seeking a low cost... liquidity at the Exchange since any unexecuted portion is returned to the NSX Book. \\12\\ 15 U.S.C....

  18. 76 FR 35257 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-06-16

    ... Effectiveness of Proposed Rule Change To Add a Rule Concerning the CHX Book Feed June 10, 2011. Pursuant to..., Rule 1 (Book Feed) to include an explicit description of the Exchange's Book Feed information service... interested persons via its Book Feed Service. The purpose of making this information available is to...

  19. 78 FR 9756 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-11

    ..., facilities of securities exchanges, automated trading systems, electronic communication networks or other...\\ Under NSX Rule 1.5, the term ``System'' is defined as ``the electronic communications and trading... the Commission, and all written communications relating to the proposed rule change between...

  20. 75 FR 18562 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-04-12

    ... the Automatic Execution mode of order interaction and the rebates payable in the Order Delivery mode of order interaction. The text of the proposed rule change is available on the Exchange's website at... dollar and higher in the Automatic Execution mode of order interaction (``AutoEx'') \\3\\. In addition,...

  1. 76 FR 61460 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-10-04

    ... with other equity, options, and futures markets, the Financial Industry Regulatory Authority, Inc. (``FINRA''), and staffs of the Commission and the Commodity Futures Trading Commission. Since May 6, 2010... As noted above, the Exchange, other equities, options, and futures markets, and FINRA propose...

  2. 76 FR 44386 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-25

    ... customer.\\4\\ The Exchange's Market Regulation Department conducts routine automated surveillance for...., NASD Rule 2320. (Best Execution and Interpositioning), ``In any transaction for or with a customer or a customer of another broker-dealer, a member and persons associated with a member shall use...

  3. 78 FR 62782 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-10-22

    ... to amend to Rule 11.19 to make technical and non-substantive changes in the rule text. The Exchange... by Rule 19b-4(f)(6)(iii) under the Act.\\3\\ \\3\\ 17 CFR 240.19b-4(f)(6)(iii). The text of the proposed... and discussed any comments it received on the proposed rule change. The text of these statements...

  4. Stock price forecasting for companies listed on Tehran stock exchange using multivariate adaptive regression splines model and semi-parametric splines technique

    NASA Astrophysics Data System (ADS)

    Rounaghi, Mohammad Mahdi; Abbaszadeh, Mohammad Reza; Arashi, Mohammad

    2015-11-01

    One of the most important topics of interest to investors is stock price changes. Investors whose goals are long term are sensitive to stock price and its changes and react to them. In this regard, we used multivariate adaptive regression splines (MARS) model and semi-parametric splines technique for predicting stock price in this study. The MARS model as a nonparametric method is an adaptive method for regression and it fits for problems with high dimensions and several variables. semi-parametric splines technique was used in this study. Smoothing splines is a nonparametric regression method. In this study, we used 40 variables (30 accounting variables and 10 economic variables) for predicting stock price using the MARS model and using semi-parametric splines technique. After investigating the models, we select 4 accounting variables (book value per share, predicted earnings per share, P/E ratio and risk) as influencing variables on predicting stock price using the MARS model. After fitting the semi-parametric splines technique, only 4 accounting variables (dividends, net EPS, EPS Forecast and P/E Ratio) were selected as variables effective in forecasting stock prices.

  5. Feeding and Stocking Up: Radio-Labelled Food Reveals Exchange Patterns in Ants

    PubMed Central

    Buffin, Aurélie; Denis, Damien; Van Simaeys, Gaetan; Goldman, Serge; Deneubourg, Jean-Louis

    2009-01-01

    Food sharing is vital for a large number of species, either solitary or social, and is of particular importance within highly integrated societies, such as in colonial organisms and in social insects. Nevertheless, the mechanisms that govern the distribution of food inside a complex organizational system remain unknown. Using scintigraphy, a method developed for medical imaging, we were able to describe the dynamics of food-flow inside an ant colony. We monitored the sharing process of a radio-labelled sucrose solution inside a nest of Formica fusca. Our results show that, from the very first load that enters the nest, food present within the colony acts as negative feedback to entering food. After one hour of the experiments, 70% of the final harvest has already entered the nest. The total foraged quantity is almost four times smaller than the expected storage capacity. A finer study of the spatial distribution of food shows that although all ants have been fed rapidly (within 30 minutes), a small area representing on average 8% of the radioactive surface holds more than 25% of the stored food. Even in rather homogeneous nests, we observed a strong concentration of food in few workers. Examining the position of these workers inside the nest, we found heavily loaded ants in the centre of the aggregate. The position of the centre of this high-intensity radioactive surface remained stable for the three consecutive hours of the experiments. We demonstrate that the colony simultaneously managed to rapidly feed all workers (200 ants fed within 30 minutes) and build up food stocks to prevent food shortage, something that occurs rather often in changing environments. Though we expected the colony to forage to its maximum capacity, the flow of food entering the colony is finely tuned to the colony's needs. Indeed the food-flow decreases proportionally to the food that has already been harvested, liberating the work-force for other tasks. PMID:19536275

  6. 77 FR 50742 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-22

    ... currently able to purchase access to the Exchange's Liquidity Center Network (``LCN''), a local area network... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE... (``NYSE'' or the ``Exchange'') filed with the Securities and Exchange Commission...

  7. 77 FR 43636 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-25

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE... Product July 19, 2012. Pursuant to Section 19(b)(1) \\1\\ of the Securities Exchange Act of 1934 (the ``Act... Exchange LLC (``NYSE'' or the ``Exchange'') filed with the Securities and Exchange Commission...

  8. 17 CFR 240.16a-9 - Stock splits, stock dividends, and pro rata rights.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Stock splits, stock dividends... Government Securities Dealers § 240.16a-9 Stock splits, stock dividends, and pro rata rights. The following... held as a result of a stock split or stock dividend applying equally to all securities of a...

  9. 17 CFR 240.16a-9 - Stock splits, stock dividends, and pro rata rights.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 17 Commodity and Securities Exchanges 3 2013-04-01 2013-04-01 false Stock splits, stock dividends... Government Securities Dealers § 240.16a-9 Stock splits, stock dividends, and pro rata rights. The following... held as a result of a stock split or stock dividend applying equally to all securities of a...

  10. 17 CFR 240.16a-9 - Stock splits, stock dividends, and pro rata rights.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 17 Commodity and Securities Exchanges 3 2012-04-01 2012-04-01 false Stock splits, stock dividends... Government Securities Dealers § 240.16a-9 Stock splits, stock dividends, and pro rata rights. The following... held as a result of a stock split or stock dividend applying equally to all securities of a...

  11. 17 CFR 240.16a-9 - Stock splits, stock dividends, and pro rata rights.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 17 Commodity and Securities Exchanges 4 2014-04-01 2014-04-01 false Stock splits, stock dividends... Government Securities Dealers § 240.16a-9 Stock splits, stock dividends, and pro rata rights. The following... held as a result of a stock split or stock dividend applying equally to all securities of a...

  12. 17 CFR 240.16a-9 - Stock splits, stock dividends, and pro rata rights.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 17 Commodity and Securities Exchanges 3 2011-04-01 2011-04-01 false Stock splits, stock dividends... Government Securities Dealers § 240.16a-9 Stock splits, stock dividends, and pro rata rights. The following... held as a result of a stock split or stock dividend applying equally to all securities of a...

  13. 76 FR 27683 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-05-12

    ... To Add All NMS Stocks to the Single Securities Circuit Breaker Pilot Program May 6, 2011. Pursuant to... program relating to individual securities circuit breakers and amend CHX Article 16, Rule 8 to...

  14. 78 FR 48526 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-08

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE... List August 2, 2013. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \\1... LLC (the ``Exchange'' or ``NYSE'') filed with the Securities and Exchange Commission...

  15. 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...

  16. 78 FR 74200 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-10

    ... able to purchase access to the Exchange's LCN, a local area network that is available in the data... 10 Gigabit Liquidity Center Network Connection in the Exchange's Data Center December 4, 2013...'') Liquidity Center Network (``LCN'') connection in the Exchange's data center. The Exchange proposes...

  17. 77 FR 74034 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-12-12

    ... Certain Volume, Liquidity and Quoting Thresholds Applicable to Billing on the Exchange in Relation to a..., liquidity and quoting thresholds applicable to billing on the Exchange in relation to a systems issue... applicable to billing on the Exchange in relation to a systems issue experienced by the Exchange on...

  18. 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...

  19. 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...

  20. 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,...

  1. 76 FR 33390 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-06-08

    ... new member, and (iv) eliminate the $1,000 trading license transfer fee. The Exchange also proposes to... approval. The Exchange further proposes to eliminate the $1,000 trading license transfer fee provided...

  2. 78 FR 71002 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-11-27

    ... rule change is available on the Exchange's Web site at www.nyse.com , at the principal office of the... occurring on the Exchange or in most dark pools. \\4\\ The Exchange will submit a separate proposal to amend... of OLOs significantly betters the dark pool average trade size of 210 shares in January...

  3. 76 FR 52028 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-19

    ... (``Latency Trades''). \\4\\ For purposes of this filing, the term ``Exchanges'' refers collectively to BATS... Rule 128(c)(4), Latency Trades will be broken by the Exchange if they exceed the applicable percentage... Pilot (the ``Trading Pause Trigger Price''). As such, Latency Trades that occur on the Exchange would...

  4. 78 FR 48522 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-08

    ... by other exchanges and the Securities and Exchange Commission (``Commission''). Section 12(k)(7... disrupt--(i) the functioning of securities markets, investment companies, or any other significant portion... entry systems and to take such other appropriate actions as instructed by the Exchange to...

  5. 78 FR 15394 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-11

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE...'') filed with the Securities and Exchange Commission (``Commission''), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \\1\\ and Rule 19b-4 thereunder,\\2\\ a proposed rule change to...

  6. 76 FR 79232 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-21

    ...-location services increases access to the Exchange's co-location facilities and that the co-location... Exchange Act and should increase access to the Exchange co-location facilities by allowing additional... Expanding the Scope of Potential ``Users'' of Its Co-Location Services To Include Any Market...

  7. 75 FR 32831 - Self-Regulatory Organizations; The Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-06-09

    ... SRO Fees and DEA Examinations June 3, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange... Exchange Participants for SRO Fees and DEA Examinations. The text of this proposed rule change is available... $250 per month to $500 per month. The Exchange also proposes to reduce the DEA Examinations Fee...

  8. 77 FR 63406 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-10-16

    ... transaction when adding liquidity to the Exchange in a security with a per share price of $1.00 or more... liquidity credit, if certain thresholds are met: First, the Exchange proposes to provide a $0.0018 per share credit per transaction when adding displayed liquidity to the Exchange if either (i) the ]...

  9. 75 FR 16537 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-04-01

    ... Change To Make Permanent a Unit-of- Count Metric Alternative for NYSE OpenBook March 25, 2010. Pursuant... are required to report to the Exchange and on which the Exchange bases its fees for its NYSE OpenBook... recognizes that each Vendor and Subscriber will use NYSE OpenBook data differently and that the Exchange...

  10. 78 FR 47474 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-05

    ... (Mar. 19, 2009), 74 FR 13293 (Mar. 26, 2009) (SR-NYSE-2009-04). In April 2013, the Exchange began.... \\5\\ See Securities Exchange Act Release No. 69272 (Apr. 2, 2013), 78 FR 20983 (Apr. 8, 2013) (SR-NYSE... the need for such data.\\8\\ \\8\\ See Securities Exchange Act Release No. 51808 (June 9, 2005), 70...

  11. 78 FR 40260 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-03

    ... the Exchange's Web Site; and (ii) Adopt as New Rules Certain Provisions That Are Currently Included in... updated listing application materials that will be posted on the Exchange's Web site; and (ii) adopt as...) and adopt updated listing application materials that will be posted on the Exchange's Web site;...

  12. 78 FR 51788 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of and Order Granting...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-21

    ... be Posted on the Exchange's Web site; and (ii) Adopt As New Rules Certain Provisions that are... application materials that will be posted on the Exchange's Web site; and (ii) adopt as new rules certain... that will be posted on the Exchange's Web site; and (ii) adopt as new rules certain provisions that...

  13. 78 FR 29165 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-05-17

    ... Updated Listing Application Materials That Will Be Posted on the Exchange's Web Site; and (ii) Adopt as... be posted on the Exchange's Web site; and (ii) adopt as new rules certain provisions that are... proposed rule change is available on the Exchange's Web site at www.nyse.com , at the principal office...

  14. 26 CFR 1.1036-1 - Stock for stock of the same corporation.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Stock for stock of the same corporation. 1.1036...) INCOME TAX (CONTINUED) INCOME TAXES Common Nontaxable Exchanges § 1.1036-1 Stock for stock of the same corporation. (a) Section 1036 permits the exchange, without the recognition of gain or loss, of common...

  15. 78 FR 77739 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-24

    ... pricing for ``shared cabinet space'' available to users of co-location facilities of The NASDAQ Stock... High Density Cabinet'' option available to users of its co-location facilities.\\23\\ \\23\\ See supra note... Effectiveness of Proposed Rule Change to Offer Partial Cabinets and Cabinet Upgrades as Part of its...

  16. 77 FR 2592 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-01-18

    ..., among other things, expand the pilot to include all NMS stocks not already included therein was... the following methods: Electronic Comments Use the Commission's Internet comment form ( http://www.sec... one method. The Commission will post all comments on the Commission's Internet Web site (...

  17. Trading Network Predicts Stock Price

    PubMed Central

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

    2014-01-01

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices. PMID:24429767

  18. Trading Network Predicts Stock Price

    NASA Astrophysics Data System (ADS)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

    2014-01-01

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

  19. 77 FR 45408 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-31

    ... and operates to reward aggressive liquidity providers. As such, the Exchange believes that the rules... liquidity, facilitate the trading of larger orders more efficiently and operates to reward...

  20. 78 FR 23620 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-19

    ..., intermittent cellular telephone service at the Exchange, and persistent busy signals. As a result, Floor... regulating, clearing, settling, processing information with respect to, ] and facilitating transactions...

  1. 78 FR 1280 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-08

    ... and operates to ] reward aggressive liquidity providers. As such, the Exchange believes that the rules... liquidity and operates to reward aggressive liquidity providers. Moreover, the instant filing requesting...

  2. 76 FR 82342 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-30

    ... reward aggressive liquidity providers. As such, the Exchange believes that the rules governing the SLP... reward aggressive liquidity providers. Moreover, the instant filing requesting an extension of the...

  3. 75 FR 54411 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-09-07

    ... with the new quoting and volume requirements. The Exchange also proposes to clarify which mnemonics... the same mnemonic for non-SLP trading activity. Background: Rule 107B, which was adopted as a pilot... things, the Exchange requires pursuant to Rule 107B(c)(1) that an SLP use a unique mnemonic for its...

  4. 75 FR 36746 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-06-28

    ... paragraphs (c)(2) and (c)(4). As proposed, the provisions of paragraphs (c), (e)(2), (g), and (h) of Rule 11... prior versions of paragraphs (c), (e)(2), (g), and (h) of Rule 11.17 would be in effect. The Exchange is... proposed paragraph (c)(4), if applicable. Accordingly, the Exchange proposes to modify paragraph (h)...

  5. 78 FR 48520 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-08

    ... additional investor interest in trading securities, thereby promoting capital formation. The Exchange..., to protect investors and the public interest. The Exchange believes that extending the pilot period... investors benefit from the better price that liquidity providers are willing to give their...

  6. 78 FR 37265 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-06-20

    ... at the New York Mercantile Exchange (``NYMEX'') to trading space at 20 Broad Street, New York, New... and a national market system. The Exchange believes that the Proposal is designed to remove impediments to and perfect the mechanism of a free and open market and a national market system. The...

  7. 78 FR 19340 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-29

    ... interest in the Company. In addition, the Exchange, through its wholly-owned subsidiary NYSE Market, Inc... Trading is an affiliate of an affiliate of the Exchange,\\5\\ which would violate the prohibition in Rule 2B... controls reasonably designed to ensure that BIDS Holdings and its affiliates do not have access to...

  8. 75 FR 81701 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-12-28

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE... of ten (10) bonds. When the liquidity taker purchases or sells from one to ten (10) bonds, the Exchange will charge an execution fee of $0.50 per bond; when the liquidity taker purchases or sells...

  9. 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...

  10. 77 FR 42788 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-20

    ... Contra Party to Unresolved Account Balances in the Exchange's Online Comparison System July 16, 2012... frame for assigning the contra party to unresolved account balances in the Exchange's Online Comparison... maker (``DMM'') unit as the contra party for any unresolved omnibus account balances in the...

  11. 76 FR 31659 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-06-01

    ... measure the latency of orders to and from the Exchange's system as well as the latency of market data... contracted directly with Correlix to use their RaceTeam latency measurement service for the Exchange. The... first 25 ports requested by the user for latency monitoring, and an additional $1,000 per month for...

  12. 62 FR 1008 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Order Approving and Notice of Filing...

    Federal Register 2010, 2011, 2012, 2013, 2014

    1997-01-07

    ... Enhanced SuperMAX and Timed Enhanced SuperMAX December 30, 1996. I. Information On October 9, 1996, the...\\ and Rule 19b-4 thereunder,\\2\\ a proposal relating to its SuperMAX system, seeking permanent approval... the Exchange, through the Exchange's MAX system, to provide order execution guarantees that are...

  13. 78 FR 36281 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-06-17

    ... these existing rates or the Exchange's method of determining applicability. The Exchange is proposing... for price discovery, liquidity, competitive quotes and price improvement.\\13\\ \\13\\ See Securities... with the Act. Comments may be submitted by any of the following methods: Electronic Comments Use...

  14. 78 FR 51758 - Self-Regulatory Organizations; New York Stock Exchange LLC; NYSE MKT LLC; NYSE Arca, Inc.; Order...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-21

    .... (``ICE Group'') The proposed rule changes were published for comment in the Federal Register on July 1... ICE Group. NYSE Euronext owns 100% of the equity interest of NYSE Group, Inc., a Delaware corporation.... Regulated Subsidiary''). IntercontinentalExchange, Inc. (``ICE'') is an operator of regulated exchanges...

  15. 76 FR 79260 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-21

    ... Effectiveness of a Proposed Rule Change Adopting the Text of Financial Industry Regulatory Authority Rule 5210... Rule Change The Exchange proposes to adopt the text of Financial Industry Regulatory Authority (``FINRA... NYSE Rule 5210. The text of the proposed rule change is available at the Exchange, the...

  16. 76 FR 53513 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-26

    ... Exchanges and To Clarify the Text of NYSE Rule 17(c)(2)(A)(ii) To More Accurately Reflect the Regulatory... obligations and conditions) and to clarify the text of NYSE Rule 17(c)(2)(A)(ii) to more accurately reflect... Authority (``FINRA''). The text of the proposed rule change is available at the Exchange, at the...

  17. 77 FR 71658 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-12-03

    ... Effectiveness of Proposed Rule Change Moving the Rule Text That Provides for Pegging on the Exchange From Supplementary Material .26 of NYSE Rule 70 to NYSE Rule 13 and Amending Such Text to (i) Permit Designated... the rule text that provides for pegging on the Exchange from Supplementary Material .26 of NYSE...

  18. 77 FR 56902 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-09-14

    ... Effectiveness of Proposed Rule Change To Delete Non-Operable Text Within Its Price List Applicable to... The Exchange proposes to delete non-operable text within its Price List applicable to Supplemental Liquidity Providers (``SLPs''). The text of the proposed rule change is available on the Exchange's Web...

  19. 78 FR 79044 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-27

    ... Effectiveness of Proposed Rule Change to Offer Risk Management Tools Designed to Allow Member Organizations to... Substance of the Proposed Rule Change The Exchange proposes to offer risk management tools designed to allow... Exchange Commission (the ``Commission'') the proposed rule change as described in Items I and II...

  20. 76 FR 55432 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-09-07

    ... market data products through either the Exchange's Liquidity Center Network (``LCN''), a local area network available in the data center, or the Exchange's Secure Financial Transaction Infrastructure (``SFTI'') network, to which all co-location users have access. Access is available in either one or...

  1. 78 FR 54704 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-09-05

    ... are currently able to purchase access to the Exchange's LCN, a local area network that is available in... 40 Gigabit Liquidity Center Network Connection in the Exchange Data Center August 29, 2013. Pursuant... its Price List in order to provide for fees for a 40 gigabit (``Gb'') Liquidity Center Network...

  2. 78 FR 49785 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-15

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE... Initial Application Fee Is Treated for Certain Issuers That Do Not Immediately List a Security for Which... Securities Exchange Act of 1934 (``Act'') \\1\\ and Rule 19b-4 thereunder,\\2\\ notice is hereby given that...

  3. 75 FR 80088 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-12-21

    ... trading facility of the Exchange for NYSE-listed securities that was established by means of a joint venture between the Exchange and BIDS.\\3\\ The governance structure that was approved is reflected in the... advantage. * * * These conditions appear reasonably designed to promote robust and independent regulation...

  4. 77 FR 3527 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-01-24

    ... Article 6.\\8\\ The Exchange also proposes to add a definition of IBR to Article 1, Rule 1 (Definitions) for the sake of clarity. The Exchange further proposes to add language to the definition of ``Participant..., recordation and management system developed and operated by the CHX for use by IBRs to receive, transmit...

  5. 75 FR 29795 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-05-27

    ... Terms of Substance of the Proposed Rule Change The Exchange proposes to delete NYSE Rule 413 to... 09-02 (January 6, 2009) (discussing proposed FINRA Rule 4540). Per the rule harmonization process... FINRA Rules 1111-1190). Per the rule harmonization process, the Exchange will likely adopt versions...

  6. 78 FR 42811 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-17

    ... the Exchange's Risk Management Gateway service (``RMG'') are not charged for order/ quote entry ports... those trading systems are integrated. The NYSE Arca trading platform is not integrated in the same... Exchange's trading systems (i.e., ports for entry of orders and/or quotes (``order/quote entry...

  7. 78 FR 64043 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-10-25

    ... Change Proposing to Amend the Quantitative Continued Listing Standards Applicable to Companies Listed... Terms of Substance of the Proposed Rule Change The Exchange proposes to harmonize the quantitative... for, the Proposed Rule Change 1. Purpose The Exchange proposes to harmonize the quantitative...

  8. 77 FR 57625 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-09-18

    ..., the Exchange offers either market analytics or Web- hosting products and services to U.S. issuers that... certain issuers. The text of the proposed rule change is available on the Exchange's Web site at www.nyse... surveillance and Web-hosting products and services to U.S. issuers that have 270 million or more total...

  9. 75 FR 16535 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Order Granting...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-04-01

    ... Methodology for NYSE OpenBook March 25, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange Act of... of its pilot program for a revised unit-of-count methodology for NYSE OpenBook until July 31, 2010...Book product packages.\\3\\ Under the proposal, the Exchange no longer defines the Vendor-...

  10. 76 FR 75573 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-02

    ... Effectiveness of Proposed Rule Change Amending Its Listed Company Manual To Apply Listing and Annual Fees to... Proposed Rule Change The Exchange proposes to amend the Listed Company Manual to include a fee that it... Manual. The text of the proposed rule change is available at the Exchange, the Commission's...

  11. 77 FR 63370 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-10-16

    ... (Removal of Securities) and Rule 19 (Corporate Governance) to comport with Section 10(C) of the Exchange... Securities) and Rule 19 (Corporate Governance) to comport with Section 10(C) of the Exchange Act \\7\\ and Rule... (Removal of Securities) and Rule 19 (Corporate Governance) to establish listing standards that require...

  12. 78 FR 6389 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-30

    ... Effectiveness of Proposed Rule Change Amending Rule 440B To Provide How the Trigger Price Will Be Calculated if... The Exchange proposes to amend Rule 440B to provide how the Trigger Price will be calculated if... for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend Rule 440B to provide how...

  13. 78 FR 51781 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-21

    ... last sale market data products for distribution to non-professional users, NYSE Trades Digital Media and NYSE Realtime Reference Prices Digital Media. See Securities Exchange Act Release No. 69298...

  14. 75 FR 12590 - Self-Regulatory Organizations; The Chicago Stock Exchange, Inc.; Order Approving a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-03-16

    ... charges are intended to offset, at least in part, the costs borne by the Exchange for rent, utilities and... requests to co-locate. \\7\\ This description applies equally to both inbound messages (e.g., new orders)...

  15. 75 FR 21061 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-04-22

    ... as fighting or profanity on Exchange premises, smoking on the Trading Floor and dress code violations... Reporting Requirements) to the current rule provisions dealing with that topic, which is Article 7....

  16. 76 FR 13251 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-03-10

    ... survivor-in-fact (dominant company). Under Exchange policy, the determination of which company is the...\\ in particular in that it is designed to promote just and equitable principles of trade, to...

  17. 76 FR 600 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-01-05

    ... Exchange further believes that this filing is consistent with these principles in that it expands the field... communications relating to the proposed rule change between the Commission and any person, other than those...

  18. 78 FR 59992 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-09-30

    ... a regulated foreign exchange following the consummation of the Reverse Merger.. However, such... coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of...

  19. 78 FR 4936 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Amendment No. 3...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-23

    ... good governance practices, including a reasoned, fair, and impartial approach for determining the... 22 concerning corporate governance requirements for companies listed on the Exchange: Rule 2, ``Admittance to Listing;'' Rule 19(d), ``Corporate Governance--Compensation Committee;'' and Rule...

  20. 78 FR 42573 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-16

    ... submit a ``Correction Action Statement'' and ``Mitigation Statement'' with an executed acceptance, waiver... the prohibition or limitation by the Exchange of any person with respect to access to services...

  1. 75 FR 500 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-01-05

    ... for NYSE-listed securities, established as a joint venture between the Exchange and BIDS.\\4\\ The... conflicts of interest and unfair competitive advantage. Further, the Commission determined that...

  2. 75 FR 69491 - Self-Regulatory Organizations; Order Approving Proposed Rule Change by New York Stock Exchange...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-11-12

    ... (``Act'') \\1\\ and Rule 19b-4 thereunder,\\2\\ to change the execution of algorithm of the New York Block... Exchange is proposing to amend the Facility's order-routing algorithm to route away to hit the...

  3. 78 FR 29406 - Self-Regulatory Organizations; New York Stock Exchange LLC; NYSE MKT LLC; Notice of Designation...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-05-20

    ... ``parity'' allocation of shares of an Exchange execution, as compared with off-Floor market participants...' respective books, by virtue of the Floor broker's parity status. The restrictions contained in Rules...

  4. 75 FR 54686 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-09-08

    ... Effectiveness of Proposed Rule Change Extending the Operation of NYSE's Supplemental Liquidity Providers Pilot... the operation of its Supplemental Liquidity Providers Pilot (``SLP Pilot'' or ``Pilot'') (see Rule... The Exchange proposes to extend the operation of its Supplemental Liquidity Providers...

  5. 77 FR 63388 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-10-16

    ... designation) and for applications relating to poison pills. The ] Exchange proposes to increase this fee from... Section 902.03 of the Listed Company Manual to increase the fee for certain changes and for poison...

  6. Collaboration with Environmental Protection Administration Taiwan (EPAT)

    EPA Pesticide Factsheets

    Through this partnership, U.S. and Taiwan environmental authorities have developed a strong capacity to reduce pollution and manage the environment through joint projects, innovate research, and knowledge exchange.

  7. Time-varying volatility in Malaysian stock exchange: An empirical study using multiple-volatility-shift fractionally integrated model

    NASA Astrophysics Data System (ADS)

    Cheong, Chin Wen

    2008-02-01

    This article investigated the influences of structural breaks on the fractionally integrated time-varying volatility model in the Malaysian stock markets which included the Kuala Lumpur composite index and four major sectoral indices. A fractionally integrated time-varying volatility model combined with sudden changes is developed to study the possibility of structural change in the empirical data sets. Our empirical results showed substantial reduction in fractional differencing parameters after the inclusion of structural change during the Asian financial and currency crises. Moreover, the fractionally integrated model with sudden change in volatility performed better in the estimation and specification evaluations.

  8. 78 FR 38420 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-06-26

    ... Executions'') to increase the price level at which a security would be considered ``high-priced'' and thus... price level from $1,000 or more to $10,000 or more.\\3\\ \\3\\ As a result of the proposed amendment, six... security priced at $1,000 or more. The Exchange proposes to increase this price level to $10,000 or more...

  9. 78 FR 58587 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-09-24

    ....20 and 36.21 That Would Not Permit Floor Brokers To Use Personal Portable Phone Devices on the Trading Floor Due to the Unavailability of Exchange-Provided Cell Phones on September 11, 2013 September....21 that would not permit Floor brokers to use personal portable phone devices on the Trading...

  10. 78 FR 62825 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-10-22

    ... Would Not Permit Floor Brokers To Use Personal Portable Phone Devices on The Trading Floor Due to the Unavailability of Exchange- Provided Cell Phones Beginning on October 10, 2013 Until the Earlier of When Cell Phone Service Is Restored or October 11, 2013 October 16, 2013. Pursuant to Section 19(b)(1) \\1\\ of...

  11. 77 FR 24239 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-04-23

    ... meet the 10% ADV requirement, and use of specified SLP mnemonics. In addition, the business unit of the... unique mnemonics specifically dedicated to SLMM activity. Use of these unique mnemonics will enable SLMMs... to the Exchange. As proposed, such mnemonics may not be used for trading in securities other than...

  12. 77 FR 35455 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Granting Approval of Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-06-13

    ... specified SLP mnemonics. In addition, the business unit of the member organization acting as an SLP must... maintain unique mnemonics specifically dedicated to SLMM activity. Use of these unique mnemonics will...-making activity to the Exchange. As proposed, such mnemonics may not be used for trading in...

  13. 78 FR 21464 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-10

    ...\\ Id. New Digital Media Offerings The Exchange recently created a new version of NYSE Trades, NYSE Trades Digital Media, which will allow market data vendors, television broadcasters, Web site and mobile... television, Web site, and mobile devices.\\11\\ The NYSE Trades Digital Media product includes access to...

  14. 76 FR 67507 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-11-01

    ... management, order routing and market data delivery services to their customers while the User is co-located... services to their customers (``Hosted Users'') at the Exchange's data center. ``Hosting'' would be a... Change Expanding the Scope of Potential ``Users'' of Its Co-Location Services To Include Any...

  15. 75 FR 168 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-01-04

    ... a detrimental effect on investors because the prints will each be marked as the closing print... open market and a national market system, and, in general, to protect investors and the public interest... the closing transaction on the Exchange and thus ultimately serve to protect investors and the...

  16. 76 FR 82024 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-29

    ... and offer is $10.02 and $10.04 and there is ``dark'' reserve buy interest at $10.03, if the NBO... ``dark'' reserve interest priced at $10.03. \\7\\ See Securities Exchange Act Release No. 61072 (November... one method. The Commission will post all comments on the Commission's Internet Web site (...

  17. 78 FR 20983 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-08

    ... the proposed rule change is available on the Exchange's Web site at www.nyse.com , at the principal... in a manner to facilitate its distribution via Web sites or mobile devices. \\4\\ See Securities... broadcasters, Web site and mobile device service providers, and others to distribute this data product to...

  18. 76 FR 82339 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-30

    ..., written submission would better inform the ESP during the allocation process. \\3\\ Under Rule 103B(III), an... submit a written letter to an Exchange Selection Panel (``ESP'') expressing a preference for a DMM if the... to occur after the allocation process. Extending the effective period to twelve months will...

  19. 77 FR 56693 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-09-13

    ... Amex'' With ``NYSE MKT'' Reflecting the Recent Name Change of NYSE Amex LLC to NYSE MKT LLC September 7... replace references to ``NYSE Amex'' with ``NYSE MKT'' to reflect the recent name change of NYSE Amex LLC to NYSE MKT LLC. The text of the proposed rule change is available on the Exchange's Web site at...

  20. 78 FR 69907 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-11-21

    ...-location services to provide for a lower-latency 10 gigabit (``Gb'') Liquidity Center Network (``LCN... Effectiveness of Proposed Rule Change Expanding Co-location Services To Provide for a Lower-Latency 10 Gigabit Liquidity Center Network Connection in the Exchange's Data Center November 15, 2013. Pursuant to Section...

  1. 78 FR 51765 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-21

    ... Effectiveness of Proposed Rule Change To Describe the Billing Practice for Co-Location Services and Expand Co- Location Services To Provide for a 40 Gigabit Liquidity Center Network Connection August 15, 2013. Pursuant...) describe the Exchange's current billing practice for co-location services received by Users that connect...

  2. 78 FR 7824 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-04

    ... Exchange believes that the categorical nature of the current attestation language is preventing certain.... Unable to make the categorical attestation required by the current language of Rule 107C, some member... issue a Trader Notice to make clear that the ``substantially all'' language is meant to permit...

  3. 76 FR 51447 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-18

    ... dissemination of information for the security (``Latency Trades''). \\4\\ For purposes of this filing, the term... 10(c) (4), Latency Trades will be broken by the exchange if they exceed the applicable percentage... ``Trading Pause Trigger Price''). As such, Latency Trades that occur on CHX would be broken by the...

  4. 77 FR 4604 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-01-30

    ... that would execute exclusively against contra-side liquidity in the Exchange's Display Book (``DBK... immediately eligible to execute, in whole or in part, exclusively against contra-side liquidity in the DBK and... which the size of the NYBX IOC order is less than the total available contra side liquidity that...

  5. 78 FR 34693 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-06-10

    ... Effectiveness of Proposed Rule Change To Amend Rule 1000 To Revise the Manner by Which the Exchange Will Phase... Commission (the ``Commission'') the proposed rule change as described in Items I and II below, which Items... solicit comments on the proposed rule change from interested persons. \\1\\ 15 U.S.C. 78s(b)(1). \\2\\ 15...

  6. 63 FR 16840 - Self-Regulatory Organizations; Order Approving Proposed Rule Change by the Chicago Stock Exchange...

    Federal Register 2010, 2011, 2012, 2013, 2014

    1998-04-06

    ..., Incorporated Relating to the Acceptance of Oversized Orders in the MAX System March 25, 1998. I. Introduction... oversized orders received through the MAX System was published for comment in the Federal Register on...(b)(12). As stated above, the Exchange's MAX System provides for the automatic execution of...

  7. 61 FR 59124 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    1996-11-20

    ... Change and Amendment No. 1 to Proposed Rule Change Relating to Enhanced SuperMAX and Timed Enhanced SuperMAX November 13, 1996. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act... Enhanced SuperMAX and Timed Enhanced SuperMAX pilot program, located in subsections (e) and (f) of Rule...

  8. 77 FR 46137 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-02

    ... proposed rule change is available on the Exchange's Web site at www.nyse.com , at the principal office of..., 2010) (noting that dark pools and internalizing broker- dealers executed approximately 25.4% of share... at the Economic Club of New York, Sept. 7, 2010) (available on the Commission's Web site). In...

  9. 77 FR 47471 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-08

    ... supports the quality of price discovery and promotes market transparency. ] The Exchange also believes that... currently correspond to such percentages, would simplify the method by which SLPs are provided with credits... proposed rule change is consistent with the Act. Comments may be submitted by any of the following...

  10. 78 FR 40816 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-08

    ... Connection With An Initial Public Offering, as New Registrants or by Means of a Carve-Out or Spin-Off... registrants or by means of a carve-out or spin-off transaction. The text of the proposed rule change is... previously been registered under the Exchange Act or (ii) by means of a carve-out or spin-off...

  11. 75 FR 28831 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-05-24

    ... Change Adding Rule 80C To Provide for a Trading Pause for Individual Securities When the Price Moves 10... provide for a trading pause for individual securities when the price moves 10 percent or more. A copy of... moves 10% or more from a sale in a preceding five-minute period. The Exchange is proposing this...

  12. 76 FR 38232 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-06-29

    ... entered into a comprehensive Regulatory Services Agreement (``RSA'') with FINRA that, among other things... trading rules).\\12\\ As a result of this RSA and the Rule 17d-2 agreement, the only regulatory functions... the RSA. The Exchange will review the terms of the RSA in connection with this proposed rule...

  13. 77 FR 56894 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-09-14

    ... facilitate and evidence compliance with Rule 611. \\4\\ According to the Exchange, a DMM, on behalf of a Floor...\\ in that it is designed to foster cooperation and coordination with persons engaged in regulating, ] clearing, settling, processing information with respect to, and facilitating transactions in securities,...

  14. 78 FR 10226 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-13

    ... the Text of Rule 1600, Which Governs NYBX Functionality February 7, 2013. Pursuant to Section 19(b)(1... of the Proposed Rule Change The Exchange proposes to contemporaneously delete the text of Rule 1600, which governs NYBX functionality. The text of the proposed rule change is available on the...

  15. 76 FR 53015 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-24

    ... Effectiveness of Proposed Rule Change Deleting the Text of NYSE Rule 92 and Adopting a New NYSE Rule 5320 That... Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to delete the text of... substantially the same as Financial Industry Regulatory Authority (``FINRA'') Rule 5320. The text of...

  16. 78 FR 70386 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-11-25

    ... Effectiveness of Proposed Rule Change Revising Rule 61(a)(iii) To Harmonize the Existing Rule Text With the... rule text with the recent amendment to the CTA Plan, which provides that odd-lot transactions are to be reported on the Consolidated Tape. The text of the proposed rule change is available on the Exchange's...

  17. 76 FR 39946 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-07

    ..., Adopting the Text of FINRA Rule 4530, and Making Certain Conforming Changes June 30, 2011. Pursuant to... NYSE Rule 351(a)-(d) and Supplementary Material .10 and .13, adopt the text of FINRA Rule 4530, and make certain conforming changes. The text of the proposed rule change is available at the Exchange,...

  18. 76 FR 64154 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-10-17

    ... Effectiveness of Proposed Rule Change Deleting NYSE Rules 132A, 132B, and 132C, Adopting the Text of the FINRA... Exchange proposes to delete NYSE Rules 132A, 132B, and 132C, adopt the text of the FINRA Rule 7400 Series, the Order Audit Trail System (``OATS'') Rules, and make certain conforming changes. The text of...

  19. 78 FR 14378 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-05

    ... futures. The IFUS Traders, collectively, transact less than 5% of average daily IFUS volume excluding IFUS... other words, the IFUS Traders transact less than 5% of the 17% of IFUS's average daily volume that is... Traders.\\11\\ \\9\\ However, the Exchange expects to relocate the NYSE Floor brokers to an area adjacent...

  20. 78 FR 20973 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-08

    ... patterns have increased the use and importance of non-display data. \\10\\ See Securities Exchange Act... system that a data recipient uses, irrespective of the means of transmission or access. There will be two... trading facilities, alternative trading systems, broker crossing networks, dark pools, and...

  1. 78 FR 53181 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-28

    ... understand the important role that internal audits play in overall good corporate governance will comply with... in overall good corporate governance for all public companies. The Commission notes, however, that as... opposes the Exchange's proposed rule change because it will relax an important governance...

  2. 75 FR 39065 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-07-07

    ... Change To Amend the List of Securities Subject to an Individual Circuit Breaker June 30, 2010. Pursuant... circuit breakers for the trading of individual securities. The text of this proposed rule change is... Vehicles (``ETV''), and Exchange Traded Notes (``ETN''). Amendments to Article 20, Rule 2 to create...

  3. 75 FR 59310 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-09-27

    ... that co-located Users have the option of obtaining access to the Exchange's Liquidity Center Network (``LCN''), a local area network available in the data center.\\6\\ Co-located Users have the option of..., to which all Users have access. Because it operates as a local area network within the data...

  4. 75 FR 36759 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-06-28

    ..., entitled ``Numerical Guidelines Applicable to Volatile Market Opens'' with a new paragraph, entitled... (g) of Rule 128 to eliminate the ability of the Exchange to deviate from the Numerical Guidelines... to use different Numerical Guidelines or Reference Prices in various ``Unusual Circumstances.''...

  5. 78 FR 4524 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-22

    ... facility of the Exchange for NYSE-listed securities that was established by means of a joint venture... advantage,'' that `` hese conditions appear reasonably designed to promote robust and independent regulation... to mitigate concerns about potential conflicts of interest and unfair competitive advantage. In...

  6. 76 FR 69788 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-11-09

    ... Execution. The RLP Panel would review the facts and render a decision within the time frame prescribed by... available contra-side interest as follows. As proposed, a Type 1-designated Retail Order would interact only... contra-side interest in Exchange systems or route to other markets. The portion of a Type...

  7. 78 FR 25327 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-30

    ... Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to delete NYSE Rule... consistency with FINRA's rules and promote harmonization, consistency, transparency, and clarity with respect... mechanism of a free and open market and a national market system, and, in general, to protect investors...

  8. 76 FR 46860 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-03

    ... Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the... SR- NYSEAmex-2011-54. NYSE Rule 2(c) defines the term ``approved person'' as ``a person, other than a...) defines the term ``control'' to mean the power to direct or cause the direction of management or...

  9. 75 FR 22671 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-04-29

    ... Effectiveness of Proposed Rule Change To Amend Its Immediate Release Policy To Remove the Address Contact... Manual (the ``Manual'') to remove the contact information provided in that rule for national news wire... Press International. As a convenience, the Exchange has included in Section 202.06(c) \\5\\...

  10. 78 FR 77186 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-20

    ... units shall have the ability to employ algorithms for quoting and trading consistent with NYSE and SEC regulations. As such, DMM units at the Exchange all use algorithms to engage in quoting and trading activity... process of making a technological change to enable DMM units to use algorithms to close a security as...

  11. 76 FR 47626 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-05

    ... the Commission's Public Reference Room, and at the Commission's Web site at http://www.sec.gov . II... Exchange continues to incur costs related to configuration, maintenance and hosting associated with FMCE.... The Commission will post all comments on the Commission's Internet Web site (...

  12. 78 FR 41166 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-09

    ... than the otherwise applicable rate of $0.0025. The Exchange believes that this proposed change is also... applicable rate of $0.0025. Additionally, the proposed change related to the Tier 1 and Tier 2 Adding Credits... Effectiveness of Proposed Rule Change Amending Its Price List To Add Greater Specificity Related to...

  13. 76 FR 50529 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-15

    ... Effectiveness of Proposed Rule Change Relating to Credits to Supplemental Liquidity Providers August 9, 2011... (``Price List'') for equity transactions to amend the tiered structure of credits to Supplemental Liquidity Providers (``SLPs'') for adding liquidity to the Exchange in NYSE-listed securities with a per share...

  14. 78 FR 62915 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-10-22

    ... Effectiveness of Proposed Rule Change Amending Rule 2 To Specify That the Definition of an Approved Person Does... definition of an approved person does not include a governmental entity and amend Rule 304 to provide that if... at the places specified in Item IV below. The Exchange has prepared summaries, set forth in...

  15. 77 FR 77166 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-12-31

    ... and perfect the mechanism of a free and open market and a national market system, and, in general, to... liquidity to the bond market, thereby promoting competition and a free and open market. The Exchange... Effectiveness of Proposed Rule Change Extending the Bond Trading License and the Bond Liquidity Provider...

  16. 78 FR 26818 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-05-08

    ... (``STP'') modifiers. The text of the proposed rule change is available on the Exchange's Web site at www... availability of STP modifiers functionality to additional order types.\\4\\ STP modifiers are designed to prevent... from executing against each other. Use of the STP modifiers is optional and is not...

  17. 78 FR 16561 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-15

    ... Effectiveness of Proposed Rule Change Amending Rule 13 Adding Two Self-Trade Prevention (``STP'') Modifiers That... Exchange proposes to amend Rule 13 to add two self-trade prevention (``STP'') modifiers that may be used by... Rule 13 to add two STP modifiers that may be used by certain market participants. The proposed...

  18. 77 FR 67053 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Granting Approval of Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-08

    ... market analytics or Web-hosting products and services to U.S. issuers that have 160 million to 269,999... currently listed issuers. Under Tier One, the Exchange offers market surveillance and Web-hosting products... market analytics products and services as an alternative to market surveillance products and...

  19. 76 FR 75586 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-02

    ... Change Relating to the Proposed Rule Change in Connection With the Proposed Purchase and Sale of the... submitting this rule filing in connection with the proposed purchase and sale of the Exchange (the... Delaware corporation (``Holdings''). Under a Purchase Agreement (the ``Purchase Agreement'')...

  20. 78 FR 9094 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing of a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-07

    ... via Order Delivery mode) that are resting on the NSX Book \\5\\ in accordance with the process described...\\ Exchange Rule 1.5 defines ``NSX Book'' as ``the System's electronic fie of orders.'' \\6\\ See NSX Rule 11.13... immediately against contra-side orders entered via Auto-Ex mode resting in the NSX Book. However, that...

  1. 75 FR 26825 - Self-Regulatory Organizations; New York Stock Exchange, LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-05-12

    ... Change To Make Permanent a Unit-of-Count Metric Alternative for NYSE OpenBook Products May 5, 2010. I... Vendors use NYSE OpenBook data in their display services. In fact, the Exchange believes that proposal could encourage Vendors to create and promote innovative uses of NYSE OpenBook information. For...

  2. 78 FR 62889 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-10-22

    .... Specifically, the Exchange proposes to include corporate governance tools and advisory services with a commercial value of approximately $45,000 annually (the ``Enhanced Package''), corporate governance tools... boards of directors of listed companies are eager to understand corporate governance best practices...

  3. 78 FR 73905 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-09

    ... corporate governance tools and advisory services (the ``Enhanced Package''), which the Exchange states has a commercial value of approximately $45,000 annually, and corporate governance tools (the ``Basic Package... tools will provide generic, easily implemented corporate governance advice and/or educational tools...

  4. 77 FR 1759 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-01-11

    ....com/FeeSchedule . The Exchange notes that BZX charges $400 per month per pair (primary and secondary data center) of any logical port other than a Multicast PITCH Spin Server Port or GRP Port, but does... and GRP ports relate to market data dissemination while the proposed port fee charge relates...

  5. 76 FR 61450 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-10-04

    ... proposing this rule change in consultation with other equity, options, and futures markets, the Financial... comprise the DJIA. Proposed Amendments As noted above, the Exchange, other equities, options, and futures... (``SEC'' or the ``Commission'') and the Commodity Futures Trading Commission (``CFTC''). Since May...

  6. 76 FR 61457 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-10-04

    ... this rule change in consultation with other equity, options, and futures markets, the Financial Industry Regulatory Authority, Inc. (``FINRA''), and staffs of the Commission and the Commodity Futures... comprise the DJIA. Proposed Amendments As noted above, the Exchange, other equities, options, and...

  7. 76 FR 73756 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Order Granting...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-11-29

    .... Self-Regulatory Organization's Statement of the Terms of the Substance of the Proposed Rule Change... (the ``Dodd-Frank Act''). II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included...

  8. 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.

  9. 17 CFR 240.15g-2 - Penny stock disclosure document relating to the penny stock market.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 17 Commodity and Securities Exchanges 3 2011-04-01 2011-04-01 false Penny stock disclosure document relating to the penny stock market. 240.15g-2 Section 240.15g-2 Commodity and Securities Exchanges... Section 15(d) of the Act § 240.15g-2 Penny stock disclosure document relating to the penny stock...

  10. 17 CFR 240.15g-2 - Penny stock disclosure document relating to the penny stock market.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 17 Commodity and Securities Exchanges 4 2014-04-01 2014-04-01 false Penny stock disclosure document relating to the penny stock market. 240.15g-2 Section 240.15g-2 Commodity and Securities Exchanges... Section 15(d) of the Act § 240.15g-2 Penny stock disclosure document relating to the penny stock...

  11. 17 CFR 240.15g-2 - Penny stock disclosure document relating to the penny stock market.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 17 Commodity and Securities Exchanges 3 2013-04-01 2013-04-01 false Penny stock disclosure document relating to the penny stock market. 240.15g-2 Section 240.15g-2 Commodity and Securities Exchanges... Section 15(d) of the Act § 240.15g-2 Penny stock disclosure document relating to the penny stock...

  12. 17 CFR 240.15g-2 - Penny stock disclosure document relating to the penny stock market.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 17 Commodity and Securities Exchanges 3 2012-04-01 2012-04-01 false Penny stock disclosure document relating to the penny stock market. 240.15g-2 Section 240.15g-2 Commodity and Securities Exchanges... Section 15(d) of the Act § 240.15g-2 Penny stock disclosure document relating to the penny stock...

  13. SeedUSoon: A New Software Program to Improve Seed Stock Management and Plant Line Exchanges between Research Laboratories.

    PubMed

    Charavay, Céline; Segard, Stéphane; Pochon, Nathalie; Nussaume, Laurent; Javot, Hélène

    2017-01-01

    USoon includes functions to help the laboratory protect intellectual property, export data, and facilitate seed exchange between laboratories. The SeedUSoon program, which is customizable to match individual practices and preferences, provides a powerful toolkit to plant laboratories searching for innovative approaches in laboratory management.

  14. SeedUSoon: A New Software Program to Improve Seed Stock Management and Plant Line Exchanges between Research Laboratories

    PubMed Central

    Charavay, Céline; Segard, Stéphane; Pochon, Nathalie; Nussaume, Laurent; Javot, Hélène

    2017-01-01

    USoon includes functions to help the laboratory protect intellectual property, export data, and facilitate seed exchange between laboratories. The SeedUSoon program, which is customizable to match individual practices and preferences, provides a powerful toolkit to plant laboratories searching for innovative approaches in laboratory management. PMID:28163712

  15. Compression stockings

    MedlinePlus

    ... knee bend. Compression Stockings Can Be Hard to Put on If it's hard for you to put on the stockings, try these tips: Apply lotion ... your legs, but let it dry before you put on the stockings. Use a little baby powder ...

  16. Occupational safety and health aspects of corporate social responsibility (CSR) in Japanese companies listed on the Tokyo Stock Exchange (TSE) first section.

    PubMed

    Kawashita, Futoshi; Taniyama, Yukari; Hwi, Song You; Fujisaki, Takeshi; Kameda, Takashi; Mori, Koji

    2005-11-01

    Recently, corporate social responsibility (CSR) is becoming widely recognized as an issue for Japanese companies. Corporate responsibility for employees is considered important by various stakeholders, and occupational safety and health is regarded as one of these responsibilities. The present authors examined this issue from the viewpoint of corporate management by analysis of statements found in CSR-related reports. For companies listed on the First Section of the Tokyo Stock Exchange (TSE), we searched for CSR-related reports, and titles and contents, based on two established guidelines: the GRI Sustainability Reporting Guidelines 2002 as the international reference and the Environmental Reporting Guidelines of the Ministry of the Environment, Government of Japan, as the domestic reference. Corporations that published CSR reports were 26.3% (416/1,581) of the total, and large differences were recognized by type of industry. Comparing the numbers of pages for various contents, more concern was shown about the environment than about social activity, indicating the environment to be the main issue of CSR in Japan. In the items included in the guidelines, many matters about occupational accidents were mentioned, but it was found that statements regarding HIV/AIDS, which is not of such strong social concern in Japan, and statements regarding the costs of safety that are difficult to calculate were few. However, statements regarding mental health, which is of high interest socially, were many, even though this issue is not included in the two guidelines used. In revising the guidelines, these matters should be reviewed. In the future, continuance of analysis of CSR-related reports with regard to changes and comparisons with overseas reports will help improve occupational safety and health.

  17. 17 CFR 240.15g-2 - Penny stock disclosure document relating to the penny stock market.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Penny stock disclosure document relating to the penny stock market. 240.15g-2 Section 240.15g-2 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION (CONTINUED) GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF...

  18. The Stock Market Game: A Simulation of Stock Market Trading. Grades 5-8.

    ERIC Educational Resources Information Center

    Draze, Dianne

    This guide to a unit on a simulation game about the stock market contains an instructional text and two separate simulations. Through directed lessons and reproducible worksheets, the unit teaches students about business ownership, stock exchanges, benchmarks, commissions, why prices change, the logistics of buying and selling stocks, and how to…

  19. 26 CFR 1.1032-3 - Disposition of stock or stock options in certain transactions not qualifying under any other...

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... certain transactions not qualifying under any other nonrecognition provision. 1.1032-3 Section 1.1032-3...) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1032-3 Disposition of stock or stock options in...) acquires money or other property (as defined in § 1.1032-1) in exchange, in whole or in part, for stock...

  20. 26 CFR 1.1032-3 - Disposition of stock or stock options in certain transactions not qualifying under any other...

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... certain transactions not qualifying under any other nonrecognition provision. 1.1032-3 Section 1.1032-3...) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1032-3 Disposition of stock or stock options in...) acquires money or other property (as defined in § 1.1032-1) in exchange, in whole or in part, for stock...

  1. 26 CFR 1.1032-3 - Disposition of stock or stock options in certain transactions not qualifying under any other...

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... certain transactions not qualifying under any other nonrecognition provision. 1.1032-3 Section 1.1032-3...) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1032-3 Disposition of stock or stock options in...) acquires money or other property (as defined in § 1.1032-1) in exchange, in whole or in part, for stock...

  2. 26 CFR 1.1032-3 - Disposition of stock or stock options in certain transactions not qualifying under any other...

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... certain transactions not qualifying under any other nonrecognition provision. 1.1032-3 Section 1.1032-3...) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1032-3 Disposition of stock or stock options in...) acquires money or other property (as defined in § 1.1032-1) in exchange, in whole or in part, for stock...

  3. 26 CFR 1.1032-3 - Disposition of stock or stock options in certain transactions not qualifying under any other...

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... transactions not qualifying under any other nonrecognition provision. 1.1032-3 Section 1.1032-3 Internal... TAXES Common Nontaxable Exchanges § 1.1032-3 Disposition of stock or stock options in certain... or other property (as defined in § 1.1032-1) in exchange, in whole or in part, for stock of...

  4. What Does Stock Ownership Breadth Measure?*

    PubMed Central

    Choi, James J.; Jin, Li; Yan, Hongjun

    2013-01-01

    Using holdings data on a representative sample of all Shanghai Stock Exchange investors, we show that increases in ownership breadth (the fraction of market participants who own a stock) predict low returns: highest change quintile stocks underperform lowest quintile stocks by 23% per year. Small retail investors drive this result. Retail ownership breadth increases appear to be correlated with overpricing. Among institutional investors, however, the opposite holds: Stocks in the top decile of wealth-weighted institutional breadth change outperform the bottom decile by 8% per year, consistent with prior work that interprets breadth as a measure of short-sales constraints. PMID:24764801

  5. The Workforce Education and Development in Taiwan

    ERIC Educational Resources Information Center

    Lee, Lung-Sheng

    2012-01-01

    Workforce education and development (WED) can be broadly defined as those formal, informal and nonformal activities that prepare people for work. In Taiwan, it includes technological and vocational education (TVE), human resource development (HRD), public vocational training and adult education. In order to promote information exchanges and…

  6. 17 CFR 256.152 - Fuel stock expenses undistributed.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 17 Commodity and Securities Exchanges 3 2011-04-01 2011-04-01 false Fuel stock expenses undistributed. 256.152 Section 256.152 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION... UTILITY HOLDING COMPANY ACT OF 1935 3. Current and Accrued Assets § 256.152 Fuel stock...

  7. 26 CFR 20.2031-2 - Valuation of stocks and bonds.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 26 Internal Revenue 14 2011-04-01 2010-04-01 true Valuation of stocks and bonds. 20.2031-2 Section... Valuation of stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per... a market for stocks or bonds, on a stock exchange, in an over-the-counter market, or otherwise,...

  8. 26 CFR 20.2031-2 - Valuation of stocks and bonds.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of stocks and bonds. 20.2031-2... Valuation of stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per... a market for stocks or bonds, on a stock exchange, in an over-the-counter market, or otherwise,...

  9. 26 CFR 20.2031-2 - Valuation of stocks and bonds.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 26 Internal Revenue 14 2012-04-01 2012-04-01 false Valuation of stocks and bonds. 20.2031-2... Valuation of stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per... a market for stocks or bonds, on a stock exchange, in an over-the-counter market, or otherwise,...

  10. Population identification of red-fin pargo, Parargyrops edita Tanaka, in Taiwan strait and Beibu Gulf

    NASA Astrophysics Data System (ADS)

    Zhang, Qiyong; Cai, Zeping; Xu, Xucai

    1985-06-01

    This paper deals with population identification of Parargyrops edita Tanaka. Samples of spawning stocks were collected from Niushan-Penghu, Minnan-Taiwan shoal (Southern Fujian-Taiwan shoal) and Beibu Gulf during the spawning period 1981 1982. Morphological characters, both meristic and morphometric, are counted and measured respectively. The stock concept and intraspecific categories have been discussed. Some meristic characters as the number of left or right ventral fin spine, right ventral fin rays and abdominal vertebrae of this fish may be constant, others as the numbers of left or right pectoral fin rays and gill-rakers may have obvious geographical variation. Morphological characters have not attained the level of subspecific distinctness, no sub-species could be found among these stocks by means of coefficient of difference (C.D.). Basing upon the comparative analysis of M diff, the authors consider that stocks of Minnan-Taiwan shoal and Niushan-Penghu belong to the same local population, Taiwan Strait local population. By means of the discriminant function analysis and linear relationship analysis, statistical differences will be found to exist in meristic characters between the stock of Minnan-Taiwan shoal and that of Niushan-Penghu, so that the two are virtually different stocks or subpopulations. The stock of Beibu Gulf belongs to another called the Beibu Gulf local population. These two local populations are of allopatric distribution and show statistically significant difference between themselves. Among these stocks, the Minnan-Taiwan shoal stock is strongly influenced by the much more complicated environmental conditions of the mixed boundary region of the subtropical Sino-Japanese Subregion in the north and the tropical Indo-Malayan Subregion in the south. Thus its coefficient of variability (C.V.) is greater than those of the other two in the mean values of various meristic characters.

  11. Market Reactions to Publicly Announced Privacy and Security Breaches Suffered by Companies Listed on the United States Stock Exchanges: A Comparative Empirical Investigation

    ERIC Educational Resources Information Center

    Coronado, Adolfo S.

    2012-01-01

    Using a sample of security and privacy breaches the present research examines the comparative announcement impact between the two types of events. The first part of the dissertation analyzes the impact of publicly announced security and privacy breaches on abnormal stock returns, the change in firm risk, and abnormal trading volume are measured.…

  12. The dependence of Islamic and conventional stocks: A copula approach

    NASA Astrophysics Data System (ADS)

    Razak, Ruzanna Ab; Ismail, Noriszura

    2015-09-01

    Recent studies have found that Islamic stocks are dependent on conventional stocks and they appear to be more risky. In Asia, particularly in Islamic countries, research on dependence involving Islamic and non-Islamic stock markets is limited. The objective of this study is to investigate the dependence between financial times stock exchange Hijrah Shariah index and conventional stocks (EMAS and KLCI indices). Using the copula approach and a time series model for each marginal distribution function, the copula parameters were estimated. The Elliptical copula was selected to present the dependence structure of each pairing of the Islamic stock and conventional stock. Specifically, the Islamic versus conventional stocks (Shariah-EMAS and Shariah-KLCI) had lower dependence compared to conventional versus conventional stocks (EMAS-KLCI). These findings suggest that the occurrence of shocks in a conventional stock will not have strong impact on the Islamic stock.

  13. [The Taiwan Nurses Association and professional diplomacy].

    PubMed

    Lee, Sheuan

    2014-08-01

    The Taiwan Nurses Association (TWNA) is publishing a special centenary issue to commemorate the 100th anniversary of the association in 2014. For this issue, TWNA invited the author to write a review article that addresses the involvement of the TWNA in professional diplomacy and international exchange over the past century. The author reviews the history of both TWNA and the International Council of Nurses and introduces the contributions of the association in the field of professional diplomacy and the positive contributions of many Taiwan nursing leaders to global healthcare and society. The purpose of the paper is to convey the traditions and experiences of TWNA forward to the next generation.

  14. 17 CFR 256.201 - Common stock issued.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 17 Commodity and Securities Exchanges 3 2011-04-01 2011-04-01 false Common stock issued. 256.201... COMPANY ACT OF 1935 Liabilities and Other Credit Accounts § 256.201 Common stock issued. This account shall include the par or stated value of all common capital stock issued and outstanding....

  15. Using the Stock Market Game to Teach Economics.

    ERIC Educational Resources Information Center

    Lopus, Jane Schaerges

    1985-01-01

    The Stock Market Game is a computerized simulation that involves high school students in trading eligible New York Stock Exchange stocks in an effort to make capital gains. Time required is ten weeks. The game is described; economic concepts that can be taught using the game are listed. (RM)

  16. 17 CFR 256.201 - Common stock issued.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Common stock issued. 256.201... COMPANY ACT OF 1935 Liabilities and Other Credit Accounts § 256.201 Common stock issued. This account shall include the par or stated value of all common capital stock issued and outstanding....

  17. Maternity Leave in Taiwan

    ERIC Educational Resources Information Center

    Feng, Joyce Yen; Han, Wen-Jui

    2010-01-01

    Using the first nationally representative birth cohort study in Taiwan, this paper examines the role that maternity leave policy in Taiwan plays in the timing of mothers returning to work after giving birth, as well as the extent to which this timing is linked to the amount of time mothers spend with their children and their use of breast milk…

  18. Statistical properties of trading activity in Chinese stock market

    NASA Astrophysics Data System (ADS)

    Sun, Xiaoqian; Cheng, Xueqi; Shen, Huawei; Wang, Zhaoyang

    2010-08-01

    We investigate the statistical properties of traders' trading behavior using cumulative distribution function(CDF). We analyze exchange data of 52 stocks for one-year period which contains non-manipulated stocks and manipulated stocks published by China Securities Regulatory Commission(CSRC). By analyzing the total number of transactions and the trading volume of each trader over a year, we find the cumulative distributions have power-law tails and the distributions between non-manipulated stocks and manipulated stocks are different. These findings can help us to detect the manipulated stocks.

  19. U.S. Posture in the Pacific: Creating Concerns for the Future Defense of Taiwan

    DTIC Science & Technology

    2008-04-11

    Kong and Macau . The nine points also encouraged economic and social exchanges between the mainland and the people of Taiwan. In response to the...The status was specifically designed for Taiwan, Hong Kong, and Macau . The later two would eventually reunify with the mainland under the amendment...reunite Taiwan. The passage of this law was particularly disturbing from the standpoint that growing anxiety throughout Europe and Asia already existed

  20. [The internationalization of the nursing profession in Taiwan].

    PubMed

    Chuang, Hsiao-Ling; Wang, Cheng-Ching; Kuo, Pi-Chao

    2011-06-01

    Globalization, nursing manpower migration, and the multinational nature of the medical industry have increased the level of internationalization in Taiwan's nursing profession. In nursing practice, competencies for the general nursing list (Taiwan version) and ICNP (International Classification for Nursing Practice) have been clinically tested and revised. In academic nursing, significant effort is invested toward achieving the three general objectives of internationalized teaching, internationalized campuses, and international academic exchanges. We should further test and revise Taiwan's competencies for the general nursing list, and the ICNP should be continually tested and revised. Additionally, nursing personnel should strengthen foreign language competencies, appreciate different nursing practice cultures, participate in international exchange activities, and place increasing emphasis on international cooperation in research and nursing education accreditation. Such should further enhance and strengthen international cooperation, which should further encourage internationalization in the domestic nursing profession.

  1. 77 FR 47450 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-08

    ... Immediate Effectiveness of Proposed Rule Change Related to the Extension of the CBSX Individual Stock... Rule Change The Exchange proposes to extend the individual stock trading pause pilot program pertaining to the CBOE Stock Exchange, LLC (``CBSX,'' the CBOE's stock trading facility). This rule...

  2. Market Confidence Predicts Stock Price: Beyond Supply and Demand.

    PubMed

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi; Zhang, Yuqing

    2016-01-01

    Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price.

  3. Market Confidence Predicts Stock Price: Beyond Supply and Demand

    PubMed Central

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi; Zhang, Yuqing

    2016-01-01

    Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price. PMID:27391816

  4. Stock structure of sea otters (Enhydra Lutris Kenyoni) in Alaska

    USGS Publications Warehouse

    Gorbics, C.S.; Bodkin, J.L.

    2001-01-01

    Sea otters in Alaska are recognized as a single subspecies (Enhydra lutris kenyoni) and currently managed as a single, interbreeding population. However, geographic and behavioral mechanisms undoubtably constrain sea otter movements on much smaller scales. This paper applies the phylogeographic method (Dizon et al. 1992) and considers distribution, population response, phenotype and genotype data to identify stocks of sea otters within Alaska. The evidence for separate stock identity is genotypic (all stocks), phenotypic (Southcentral and Southwest stocks), and geographic distribution (Southeast stock), whereas population response data are equivocal (all stocks). Differences in genotype frequencies and the presence of unique genotypes among areas indicate restricted gene flow. Genetic exchange may be limited by little or no movement across proposed stock boundaries and discontinuities in distribution at proposed stock boundaries. Skull size differences (phenotypic) between Southwest and Southcentral Alaska populations further support stock separation. Population response information was equivocal in either supporting or refuting stock identity. On the basis of this review, we suggest the following: (1) a Southeast stock extending from Dixon Entrance to Cape Yakataga; (2) a Southcentral stock extending from Cape Yakataga to Cape Douglas including Prince William Sound and Kenai peninsula coast; and (3) a Southwest stock including Alaska Peninsula coast, the Aleutians to Attu Island, Barren, Kodiak, Pribilof Islands, and Bristol Bay.

  5. 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....

  6. 76 FR 55998 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-09-09

    ... Immediate Effectiveness of a Proposed Rule Change To Delete Obsolete Language From the CBOE Stock Exchange... proposes to delete obsolete language from the CBOE Stock Exchange (``CBSX'') Fees Schedule. The text of...

  7. 77 FR 41841 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-16

    ... Statutory Basis for, the Proposed Rule Change 1. Purpose Currently, when stock-option strategy orders are... functionality, the stock portions of stock-option strategy orders will be electronically communicated by the... Exchange of the stock portion of stock-option strategy orders executed through those mechanisms....

  8. 17 CFR 240.19c-5 - Governing the multiple listing of options on national securities exchanges.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... to list any stock options class first listed on an exchange on or after January 22, 1990, because... or indirectly, the ability of this exchange to list up to ten classes of standardized stock options overlying exchange-listed stocks that were listed on another options exchange before January 22, 1990....

  9. Multilayer stock forecasting model using fuzzy time series.

    PubMed

    Javedani Sadaei, Hossein; Lee, Muhammad Hisyam

    2014-01-01

    After reviewing the vast body of literature on using FTS in stock market forecasting, certain deficiencies are distinguished in the hybridization of findings. In addition, the lack of constructive systematic framework, which can be helpful to indicate direction of growth in entire FTS forecasting systems, is outstanding. In this study, we propose a multilayer model for stock market forecasting including five logical significant layers. Every single layer has its detailed concern to assist forecast development by reconciling certain problems exclusively. To verify the model, a set of huge data containing Taiwan Stock Index (TAIEX), National Association of Securities Dealers Automated Quotations (NASDAQ), Dow Jones Industrial Average (DJI), and S&P 500 have been chosen as experimental datasets. The results indicate that the proposed methodology has the potential to be accepted as a framework for model development in stock market forecasts using FTS.

  10. Multilayer Stock Forecasting Model Using Fuzzy Time Series

    PubMed Central

    Javedani Sadaei, Hossein; Lee, Muhammad Hisyam

    2014-01-01

    After reviewing the vast body of literature on using FTS in stock market forecasting, certain deficiencies are distinguished in the hybridization of findings. In addition, the lack of constructive systematic framework, which can be helpful to indicate direction of growth in entire FTS forecasting systems, is outstanding. In this study, we propose a multilayer model for stock market forecasting including five logical significant layers. Every single layer has its detailed concern to assist forecast development by reconciling certain problems exclusively. To verify the model, a set of huge data containing Taiwan Stock Index (TAIEX), National Association of Securities Dealers Automated Quotations (NASDAQ), Dow Jones Industrial Average (DJI), and S&P 500 have been chosen as experimental datasets. The results indicate that the proposed methodology has the potential to be accepted as a framework for model development in stock market forecasts using FTS. PMID:24605058

  11. 26 CFR 1.1041-2 - Redemptions of stock.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Redemptions of stock. 1.1041-2 Section 1.1041-2...) INCOME TAXES Common Nontaxable Exchanges § 1.1041-2 Redemptions of stock. (a) In general—(1) Redemptions of stock not resulting in constructive distributions. Notwithstanding Q&A-9 of § 1.1041-1T(c), if...

  12. Inclusive Education in Taiwan

    ERIC Educational Resources Information Center

    Wu-Tien, Wu

    2007-01-01

    As an echo of the worldwide movement of inclusive education and because of the conviction of inclusive ideas, special education in Taiwan is moving toward a goal of inclusion, though not necessarily full inclusion. While its terminology is as yet undesignated, principles and strategies are significantly reflected in the Special Education Act and…

  13. Quantum Brownian motion model for the stock market

    NASA Astrophysics Data System (ADS)

    Meng, Xiangyi; Zhang, Jian-Wei; Guo, Hong

    2016-06-01

    It is believed by the majority today that the efficient market hypothesis is imperfect because of market irrationality. Using the physical concepts and mathematical structures of quantum mechanics, we construct an econophysical framework for the stock market, based on which we analogously map massive numbers of single stocks into a reservoir consisting of many quantum harmonic oscillators and their stock index into a typical quantum open system-a quantum Brownian particle. In particular, the irrationality of stock transactions is quantitatively considered as the Planck constant within Heisenberg's uncertainty relationship of quantum mechanics in an analogous manner. We analyze real stock data of Shanghai Stock Exchange of China and investigate fat-tail phenomena and non-Markovian behaviors of the stock index with the assistance of the quantum Brownian motion model, thereby interpreting and studying the limitations of the classical Brownian motion model for the efficient market hypothesis from a new perspective of quantum open system dynamics.

  14. Stroke: a Hidden Danger of Margin Trading in Stock Markets.

    PubMed

    Lin, Shu-Hui; Wang, Chien-Ho; Liu, Tsai-Ching; Chen, Chin-Shyan

    2015-10-01

    Using 10-year population data from 2000 through 2009 in Taiwan, this is the first paper to analyze the relationship between margin trading in stock markets and stroke hospitalizations. The results show that 3 and 6 days after an increase of margin trading in the Taiwan stock markets are associated with greater stoke hospitalizations. In general, a 1 % increase in total margin trading positions is associated with an increment of 2.5 in the total number of stroke hospitalizations, where the mean number of hospital admissions is 233 cases a day. We further examine the effects of margin trading by gender and age groups and find that the effects of margin trading are significant for males and those who are 45-74 years old only. In summary, buying stocks with money you do not have is quite risky, especially if the prices of those stocks fall past a certain level or if there is a sudden and severe drop in the stock market. There is also a hidden danger to one's health from margin trading. A person should be cautious before conducting margin trading, because while it can be quite profitable, danger always lurks just around the corner.

  15. Fractal Analysis of Prime Indian STOCK Market Indices

    NASA Astrophysics Data System (ADS)

    Samadder, Swetadri; Ghosh, Koushik; Basu, Tapasendra

    2013-03-01

    The purpose of the present work is to study the fractal behaviour of prime Indian stock exchanges, namely Bombay Stock Exchange Sensitivity Index (BSE Sensex) and National Stock Exchange (NSE). To analyze the monofractality of these indices we have used Higuchi method and Katz method separately. By applying Mutifractal Detrended Fluctuation Analysis (MFDFA) technique we have calculated the generalized Hurst exponents, multifractal scaling exponents and generalized multifractal dimensions for the present indices. We have deduced Hölder exponents as well as singularity spectra for BSE and NSE. It has been observed that both the stock exchanges are possessing self-similarity at different small ranges separately and inhomogeneously. By comparing the multifractal behaviour of the BSE and NSE indices, we have found that the second one exhibits a richer multifractal feature than the first one.

  16. A material flow of lithium batteries in Taiwan.

    PubMed

    Chang, T C; You, S J; Yu, B S; Yao, K F

    2009-04-30

    Li batteries, including secondary and cylindrical/button primary Li batteries, are used worldwide in computers, communications and consumer electronics products. However, there are several dangerous issues that occur during the manufacture, shipping, and storage of Li batteries. This study analyzes the material flow of lithium batteries and their valuable heavy metals in Taiwan for the year 2006 by material flow analysis. According to data from the Taiwan Environmental Protection Administration, Taiwan External Trade Development Council, Bureau of Foreign Trade, Directorate General of Customs, and the Li batteries manufactures/importers/exporters. It was found that 2,952,696 kg of Li batteries was input into Taiwan for the year 2006, including 2,256,501 kg of imported Li batteries and 696,195 kg of stock Li batteries in 2005. In addition, 1,113,867 and 572,215 kg of Li batteries was domestically produced and sold abroad, revealing that 3,494,348 kg of different types of Li batteries was sold in Taiwan. Of these domestically sold batteries, 504,663 and 146,557 kg were treated domestically and abroad. Thus, a total of 2,843,128 kg of Li batteries was stored by individual/industry users or illegally disposed. In addition, it was also observed that 2,120,682 kg of heavy metals contained in Li batteries, including Ni, Co, Al, Cu and Ni, was accumulated in Taiwan, with a recycled value of 38.8 million USD. These results suggest that these heavy metals should be recovered by suitable collection, recycling and reuse procedures.

  17. Dependence phenomenon analysis of the stock market

    NASA Astrophysics Data System (ADS)

    Cheng, Wuyang; Wang, Jun

    2013-04-01

    A random financial stock price model is developed by the interacting contact process, which is one of the statistical-physics systems. The contact process is a continuous-time Markov process, one interpretation of this process is as a model for the spread of an infection, where the epidemic spreading mimics the interplay of local infections and the recovery of individuals. We investigate and analyze the long-term memory, the nonlinear correlations and the multifractal phenomenon of normalized returns of the price model by statistical analysis methods, which include autocorrelation analysis, the Gaussian copula method and the multifractal analysis method. Moreover, we consider the daily returns of the Shanghai Stock Exchange Composite Index and the Shenzhen Stock Exchange Composite Index, and the comparisons of statistical behaviors of returns between the actual data and the simulation data are presented.

  18. A Sketch of the Taiwan Zebrafish Core Facility.

    PubMed

    You, May-Su; Jiang, Yun-Jin; Yuh, Chiou-Hwa; Wang, Chien-Ming; Tang, Chih-Hao; Chuang, Yung-Jen; Lin, Bo-Hung; Wu, Jen-Leih; Hwang, Sheng-Ping L

    2016-07-01

    In the past three decades, the number of zebrafish laboratories has significantly increased in Taiwan. The Taiwan Zebrafish Core Facility (TZCF), a government-funded core facility, was launched to serve this growing community. The Core Facility was built on two sites, one located at the National Health Research Institutes (NHRI, called Taiwan Zebrafish Core Facility at NHRI or TZeNH) and the other is located at the Academia Sinica (Taiwan Zebrafish Core Facility at AS a.k.a. TZCAS). The total surface area of the TZCF is about 180 m(2) encompassing 2880 fish tanks. Each site has a separate quarantine room and centralized water recirculating systems, monitoring key water parameters. To prevent diseases, three main strategies have been implemented: (1) imported fish must be quarantined; (2) only bleached embryos are introduced into the main facilities; and (3) working practices were implemented to minimize pathogen transfer between stocks and facilities. Currently, there is no health program in place; however, a fourth measure for the health program, specific regular pathogen tests, is being planned. In March 2015, the TZCF at NHRI has been AAALAC accredited. It is our goal to ensure that we provide "disease-free" fish and embryos to the Taiwanese research community.

  19. Stock Market Project.

    ERIC Educational Resources Information Center

    Distel, Brenda D.

    This project is designed to teach students the process of buying stocks and to tracking their investments over the course of a semester. The goals of the course are to teach students about the relationships between conditions in the economy and the stock market; to predict the effect of an economic event on a specific stock or industry; to relate…

  20. Maternity Leave in Taiwan

    PubMed Central

    Feng, Joyce Yen; Han, Wen-Jui

    2011-01-01

    Using the first nationally representative birth cohort study in Taiwan, this paper examines the role that maternity leave policy in Taiwan plays in the timing of mothers returning to work after giving birth, as well as the extent to which this timing is linked to the amount of time mothers spend with their children and their use of breast milk versus formula. We found that the time when mothers returned to work coincided with the duration of guaranteed leave. In particular, mothers with a labor pension plan resumed work significantly earlier than mothers with no pension plan, and mothers with no pension plan returned to work significantly later than those with pension plans. The short leave of absence guaranteed under existing policies translated into mothers spending less time with their children and being more likely to exclusively use formula by 6 months after birth. In contrast, mothers who resumed work later than 6 months after birth were more likely to have not worked before birth or to have quit their jobs during pregnancy. Implications and recommendations for parental leave policy in Taiwan are discussed. PMID:21603074

  1. Collective behavior of stock price movements in an emerging market

    NASA Astrophysics Data System (ADS)

    Pan, Raj Kumar; Sinha, Sitabhra

    2007-10-01

    To investigate the universality of the structure of interactions in different markets, we analyze the cross-correlation matrix C of stock price fluctuations in the National Stock Exchange (NSE) of India. We find that this emerging market exhibits strong correlations in the movement of stock prices compared to developed markets, such as the New York Stock Exchange (NYSE). This is shown to be due to the dominant influence of a common market mode on the stock prices. By comparison, interactions between related stocks, e.g., those belonging to the same business sector, are much weaker. This lack of distinct sector identity in emerging markets is explicitly shown by reconstructing the network of mutually interacting stocks. Spectral analysis of C for NSE reveals that, the few largest eigenvalues deviate from the bulk of the spectrum predicted by random matrix theory, but they are far fewer in number compared to, e.g., NYSE. We show this to be due to the relative weakness of intrasector interactions between stocks, compared to the market mode, by modeling stock price dynamics with a two-factor model. Our results suggest that the emergence of an internal structure comprising multiple groups of strongly coupled components is a signature of market development.

  2. Collective behavior of stock price movements in an emerging market.

    PubMed

    Pan, Raj Kumar; Sinha, Sitabhra

    2007-10-01

    To investigate the universality of the structure of interactions in different markets, we analyze the cross-correlation matrix C of stock price fluctuations in the National Stock Exchange (NSE) of India. We find that this emerging market exhibits strong correlations in the movement of stock prices compared to developed markets, such as the New York Stock Exchange (NYSE). This is shown to be due to the dominant influence of a common market mode on the stock prices. By comparison, interactions between related stocks, e.g., those belonging to the same business sector, are much weaker. This lack of distinct sector identity in emerging markets is explicitly shown by reconstructing the network of mutually interacting stocks. Spectral analysis of C for NSE reveals that, the few largest eigenvalues deviate from the bulk of the spectrum predicted by random matrix theory, but they are far fewer in number compared to, e.g., NYSE. We show this to be due to the relative weakness of intrasector interactions between stocks, compared to the market mode, by modeling stock price dynamics with a two-factor model. Our results suggest that the emergence of an internal structure comprising multiple groups of strongly coupled components is a signature of market development.

  3. 17 CFR 240.15g-6 - Account statements for penny stock customers.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... stock customers. 240.15g-6 Section 240.15g-6 Commodity and Securities Exchanges SECURITIES AND EXCHANGE... § 240.15g-6 Account statements for penny stock customers. (a) Requirement. It shall be unlawful for any broker or dealer that has effected the sale to any customer, other than in a transaction that is...

  4. Fractal patterns in Stock Intertrading Times

    NASA Astrophysics Data System (ADS)

    White, Ainslie; Lee, Youngki; Ivanov, Plamen Ch.

    2003-03-01

    We study intertrades times (ITT) of stock trades of a range of companies included in the New York Stock Exchange's Trades and Quotes (TAQ) database. The time between transactions is an indicator of the dynamics of the market, and in the field of econometrics, intertrade durations play a key role in the understanding of the market activity and microstructure. Previous work has mainly focused on the properties of price changes of individual company stocks as well as global financial indices (e.g. SP500, DJ etc.). We hypothesize that there is a relation between the dynamics of price change and the trading activity. To investigate this relation we first study the statistical features of ITT data. The TAQ database covers all transactions on the NSE, AMEX, NASDAQ and the US regional exchanges. We have performed a preliminary analysis of 100 company stocks from a range of industries of the US economy selecting predominantly those companies which have large market capitalisations (MC). We focus on companies with large MC, since the dynamics of the price change and trading activity of stocks of such companies has a considerable impact on the market behaviour.

  5. Multidimensional stock network analysis: An Escoufier's RV coefficient approach

    NASA Astrophysics Data System (ADS)

    Lee, Gan Siew; Djauhari, Maman A.

    2013-09-01

    The current practice of stocks network analysis is based on the assumption that the time series of closed stock price could represent the behaviour of the each stock. This assumption leads to consider minimal spanning tree (MST) and sub-dominant ultrametric (SDU) as an indispensible tool to filter the economic information contained in the network. Recently, there is an attempt where researchers represent stock not only as a univariate time series of closed price but as a bivariate time series of closed price and volume. In this case, they developed the so-called multidimensional MST to filter the important economic information. However, in this paper, we show that their approach is only applicable for that bivariate time series only. This leads us to introduce a new methodology to construct MST where each stock is represented by a multivariate time series. An example of Malaysian stock exchange will be presented and discussed to illustrate the advantages of the method.

  6. 77 FR 73104 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-12-07

    ..., stock price, the number of publicly traded shares, and corporate governance standards to ensure... corporate governance listing standards, Nasdaq Rule 5101 also gives the Exchange discretion to deny...

  7. Atmospheric turbidity over Taiwan

    NASA Astrophysics Data System (ADS)

    Liu, C. M.; Feng, T. S.

    The atmospheric turbidity over Taiwan is inferred from the measurements of the direct solar irradiance during the period from July 1982 to June 1987. The turbidity over urban sites, which ranges from 0.30 to 0.48 (mean value 0.39), is significantly higher than values observed over suburban (0.21-0.23), rural (0.16-0.18), and high mountain (0.09) sites. The highest turbidity is observed at Taipei where a positive correlation is found between the turbidity and the daily dustfall data. Low wind speed is usually accompanied with high turbidity. When the surface wind intercepts with mountains, the localized circulation initiated by the blocking of airflow may cause efficient accumulation of aerosols and hence the observed high turbidity. The turbidity tends to be inversely proportional to the stability of the planetary boundary layer (PBL); hence there is an increase of turbidity at most stations from early morning to noontime. A positive correlation between turbidity and r.h. (<80%) and dew point temperature is noted; a negative correlation is found between turbidity and visibility. The annual cycle of turbidity is characterized by spring-fall maxima and winter-summer minima, which is different from the cycle of winter-minimum and summer-maximum observed in the temperate zone. The seasonal change of the synoptic weather pattern occurring around Taiwan is proposed to explain the observed annual cycle.

  8. A wave function for stock market returns

    NASA Astrophysics Data System (ADS)

    Ataullah, Ali; Davidson, Ian; Tippett, Mark

    2009-02-01

    The instantaneous return on the Financial Times-Stock Exchange (FTSE) All Share Index is viewed as a frictionless particle moving in a one-dimensional square well but where there is a non-trivial probability of the particle tunneling into the well’s retaining walls. Our analysis demonstrates how the complementarity principle from quantum mechanics applies to stock market prices and of how the wave function presented by it leads to a probability density which exhibits strong compatibility with returns earned on the FTSE All Share Index. In particular, our analysis shows that the probability density for stock market returns is highly leptokurtic with slight (though not significant) negative skewness. Moreover, the moments of the probability density determined under the complementarity principle employed here are all convergent - in contrast to many of the probability density functions on which the received theory of finance is based.

  9. A Stock Market Project.

    ERIC Educational Resources Information Center

    Anderson, Christine; Cook, Stan

    1990-01-01

    Offers a field-tested stock market unit designed to develop mathematical skills involving fractions and decimals, basic understanding of the stock market, and hypothesis testing skills in real world situations. Includes tables displaying questions, tally sheets, and instructions, as well as a list of related activities. (MDH)

  10. Heterogeneous information-based artificial stock market

    NASA Astrophysics Data System (ADS)

    Pastore, S.; Ponta, L.; Cincotti, S.

    2010-05-01

    In this paper, an information-based artificial stock market is considered. The market is populated by heterogeneous agents that are seen as nodes of a sparsely connected graph. Agents trade a risky asset in exchange for cash. Besides the amount of cash and assets owned, each agent is characterized by a sentiment. Moreover, agents share their sentiments by means of interactions that are identified by the graph. Interactions are unidirectional and are supplied with heterogeneous weights. The agent's trading decision is based on sentiment and, consequently, the stock price process depends on the propagation of information among the interacting agents, on budget constraints and on market feedback. A central market maker (clearing house mechanism) determines the price process at the intersection of the demand and supply curves. Both closed- and open-market conditions are considered. The results point out the validity of the proposed model of information exchange among agents and are helpful for understanding the role of information in real markets. Under closed market conditions, the interaction among agents' sentiments yields a price process that reproduces the main stylized facts of real markets, e.g. the fat tails of the returns distributions and the clustering of volatility. Within open-market conditions, i.e. with an external cash inflow that results in asset price inflation, also the unitary root stylized fact is reproduced by the artificial stock market. Finally, the effects of model parameters on the properties of the artificial stock market are also addressed.

  11. 76 FR 44076 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-22

    ... COMMISSION Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend NASDAQ Stock Market Equities Trading Rules 4757 and 4758 and... 13, 2011, The NASDAQ Stock Market LLC (the ``Exchange'' or ``NASDAQ'') filed with the Securities...

  12. Progress and Prospect of Physics Research and Education in Taiwan

    NASA Astrophysics Data System (ADS)

    Raynien Kwo, J.

    2010-03-01

    Started about two decades ago, the global trend of shifting industrial manufacture power from western developed countries toward developing countries in Asia has in turn become the impetus in building up physical science and research in these areas. A very good example is the remarkable progress of physical research and education in Taiwan, in terms of quantity and quality. The continuous elevation of Taiwan's high education into graduate level plus the government's strong commitment to research and development on a level of 2.62 % GDP have led to an impressive physics program with an annual budget ˜32 million USD from National Science Council in supporting 568 PIs. The investigation scope encompasses high energy and astrophysics, nano and condensed matter, and semiconductor, optoelectronic physics, etc. The former is vigorously conducted via international collaborative efforts of LHC, KEK, ALMA, Pan-STARRS, etc. The latter is driven by vital Taiwan high tech industry mostly semiconductor IC and optoelectronics flourished during this period. The early trend of outflows of BS physics majors to western world for advanced studies has reversed dramatically. Nearly 80% of the BS students continue their MS and PhD degrees in Taiwan, attracted by lucrative job markets of high tech industry. In addition, healthy inflow of high-quality science manpower of well trained PhDs and senior scholars returning to homeland has strengthened the competitiveness. Overall, the physics community in Taiwan is thriving. The annual Physical Society meeting is expanding at a rate of 6%, reaching ˜1800 attendants and 1200 papers, and dedicated to promotions of female physicists and students. The publication quantity of Taiwan in top journals of PRs and PRL is ranked among top 20^th for all fields of physics, and ranked the 6^th in APL. Clearly Taiwan has now emerged as a strong power in applied science, not limited by its population size. Concerted efforts on scientific exchanges are being

  13. Stock markets are not what we think they are: the key roles of cross-ownership and corporate treasury stock

    NASA Astrophysics Data System (ADS)

    Roehner, Bertrand M.

    2005-03-01

    We describe, document and statistically test three mechanisms by which corporations can influence or even control stock prices: (i) Parent and holding companies wield control over other publicly traded companies. (ii) Through clever management of treasury stock based on buyback programs and stock issuance, stock price fluctuations can be amplified or curbed. The shock of September 11, 2001 is used to test this effect. (iii) Finally, historical evidence shows that there is a close interdependence between the level of stock prices on the one hand and merger and acquisition activity on the other hand: on average, a 10% increase in the number of mergers brings about a 3% increase in the overall level of stock prices. If one adds up buybacks, initial public offerings and takeover transactions, all of which depend upon strategic decisions taken by corporate management, they represent on average 7.2% of the trade on the New York Stock Exchange over the period 1987-2003 (as much as 12% in specific years such as 1988). This perspective, in which the Boards of Directors of major companies “shepherd” the market, offers a natural interpretation of the so-called “herd behavior” observed in stock markets. The traditional view holds that, by driving profit expectations, corporations have an indirect role in shaping the market. In this paper, we suggest that over the last decades they became more and more the direct moving force of stock markets.

  14. Analysis of stock prices of mining business

    NASA Astrophysics Data System (ADS)

    Ahn, Sanghyun; Lim, G. C.; Kim, S. H.; Kim, Soo Yong; Yoon, Kwon Youb; Stanfield, Joseph Lee; Kim, Kyungsik

    2011-06-01

    Stock exchanges have a diversity of so-called business groups and much evidence has been presented by covariance matrix analysis (Laloux et al. (1999) [6], Plerou et al. (2002) [7], Plerou et al. (1999) [8], Mantegna (1999) [9], Utsugi et al. (2004) [21] and Lim et al. (2009) [26]). A market-wide effect plays a crucial role in shifting the correlation structure from random to non-random. In this work, we study the structural properties of stocks related to the mining industry, especially rare earth minerals, listed on two exchanges, namely the TSX (Toronto stock exchange) and the TSX-V (Toronto stock exchange-ventures). In general, raw-material businesses are sensitively affected by the global economy while each firm has its own cycle. We prove that the global crisis during 2006-2009 affected the mineral market considerably. These two aspects compete to control price fluctuations. We show that the internal cycle overwhelms the global economic environment in terms of random matrix theory and overlapping matrices. However, during the period of 2006-2009, the effect of the global economic environment emerges. This result is well explained by the recent global financial/economic crisis. For comparison, we analyze the time stability of business clusters of the KOSPI, that is, the electric/electronic business, using an overlapping matrix. A clear difference in behavior is confirmed. Consequently, rare earth minerals in the raw-material business should be classified not by standard business classifications but by the internal cycle of business.

  15. Fiches pratiques: "Oui, je viens de Taiwan"; L'habit ne fait pas le moine; Objets inanimes avez-vous donc une ame?; La Bourse et la voix (Practical Ideas: "Yes, I Come from Taiwan"; The Clothes Don't Make the Man; Inanimate Objects, Do You Have a Soul?; The Stock Exchange and the Voice).

    ERIC Educational Resources Information Center

    Durbant, Jean-Claude; And Others

    1988-01-01

    Four ideas for classroom instruction are presented, including an approach to teaching foreign nationals or immigrants, a lesson in clothing and its terminology, an explanation of the symbolism and language of the French Revolution, and a description of how to use radio programs about economics. (MSE)

  16. Universal Fluctuations of the S&100 Stock Index Returns

    NASA Astrophysics Data System (ADS)

    Gonçalves, Rui; Pinto, Alberto

    2009-09-01

    We analyze the constituents stocks of the well known Standard & Poor's 100 index (S&P100) that are traded in the NYSE and NASDAQ markets. We observe the data collapse of the histogram of the S&P100 index fluctuations to the universal non-parametric Bramwell-Holdsworth-Pinton (BHP) distribution. Since the BHP probability density function appears in several other dissimilar phenomena, our result reveals an universal feature of the stock exchange markets.

  17. 77 FR 45394 - Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-31

    ... of Proposed Rule Change To Amend EDGX Rule 11.14 To Extend the Operation of the Single Stock Circuit... The Exchange proposes to amend EDGX Rule 11.14 to extend the operation of the single stock...

  18. 77 FR 45396 - Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-31

    ... of Proposed Rule Change To Amend EDGA Rule 11.14 To Extend the Operation of the Single Stock Circuit... The Exchange proposes to amend EDGA Rule 11.14 to extend the operation of the single stock...

  19. Mineralogical and chemical analyses of ancient glass beads from Taiwan and their implications

    NASA Astrophysics Data System (ADS)

    Liou, Y. S.; Liu, Y. C.

    2015-12-01

    Large numbers of monochrome glass beads with different colors, shapes, and stylistics excavated from the archaeological sites of Taiwan, which were dated mainly from the 2nd century AD to the early Historical Period of Taiwan. Archaeologically, these glass beads were more prevalent in eastern and northern Taiwan and were generally believed to be non-native, as well as were brought into Taiwan through the maritime exchange and/or trade activities between Taiwan and Southeast Asia/China since the Neolithic Age. Nevertheless, ancient glass beads have been little studies in Taiwan, aspects of these glass beads are not well detailed. In this work, non-destructive micro-Raman spectroscopy and μXRF are used in combination to examine 56 ancient glass beads excavated from six archaeological sites, eastern Taiwan, to unravel the mineralogical and chemical compositions and to help decipher the raw materials used and the provenance of beads. Micro-Raman measurements indicate the presence of hematite, zincite, siderite, sphalerite, lead tin yellow type II, adularia, chalcedony, anatase, rutite, ankerite, graphite, calcite, etc. Hematite, zincite, siderite, sphalerite, lead tin yellow type II, and rutile were found to be colorants/opacifiers. Among these crystalline phases, lead tin yellow type II was first detected in the ancient glass bead unearthed from Taiwan, which is accordant with results of chemical analysis. The chemical results obtained by μXRF show SiO2, Al2O3, Na2O, K2O, MgO, CaO, and PbO as the most abundant oxides. It is found that Na2O, Na2O, K2O, Al2O3, and MgO are the main/minor fluxes. According to the results, the three most frequent types are mineral soda alumina glass, soda plant ash glass, and lead silicate glass. The provenance of ancient beads unearthed from archaeological sites of Taiwan is possibility of multiple sources.

  20. Research on the evolution of stock correlation based on maximal spanning trees

    NASA Astrophysics Data System (ADS)

    Yang, Chunxia; Zhu, Xueshuai; Li, Qian; Chen, Yanhua; Deng, Qiangqiang

    2014-12-01

    In this study, we choose the daily closing price of 268 constituent stocks of the S&P 500 index, 221 stocks of London Stock Exchange, 148 constituent stocks of the Shanghai Composite index and 152 constituent stocks of the Hang Seng index as the research objects and select the sample of all the stock markets from 2 January, 2003, to 16 September, 2013. For each stock market, first, using a moving window to scan through every stock return series and mutual information to measure the statistical interdependence between stock returns, we construct a corresponding weighted network in every given window. Then we study the evolution of stock correlation by analyzing the average mutual information, mutual information distribution and topology structure’s variation of the maximal spanning tree extracting from every weighted network. All the obtained results indicate that for all the stock markets, both the average mutual information and the standard deviation of mutual information distribution first gradually increase and they reach a peak during the full-outbreak periods, and finally, they decrease again. In addition, the topology structure of the maximal spanning tree also changes from compact star-like to loose chain-like first and then turns to compact star-like once more. All the facts tell us that the crisis does change the stock correlation and the stock correlation is from weak to strong first, and then becomes weak again.

  1. 75 FR 16221 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-03-31

    ... COMMISSION Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of Proposed Rule Change To Establish Strike Price Intervals and Trading Hours for Options on Index-Linked Securities March... Stock Market LLC (``NASDAQ'' or ``Exchange'') filed with the Securities and Exchange...

  2. 78 FR 24282 - Self-Regulatory Organizations; the NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-24

    ... proposal creates a burden on intra-market competition because the Exchange is applying the same Routing... COMMISSION Self-Regulatory Organizations; the NASDAQ Stock Market LLC; Notice of Filing and Immediate... given that on April 9, 2013, The NASDAQ Stock Market LLC (``NASDAQ'' or ``Exchange'') filed with...

  3. 77 FR 35448 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Order Granting...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-06-13

    ... COMMISSION Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Order Granting Approval of a Proposed Rule Change To Adopt Self-Trade Prevention Modifiers on the CBOE Stock Exchange June... proposed rule change to adopt Self-Trade Prevention modifiers on the CBOE Stock Exchange (``CBSX'')....

  4. 77 FR 4606 - Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-01-30

    ... of Proposed Rule Change To Amend EDGX Rule 11.14 To Extend the Operation of the Single Stock Circuit... Exchange proposes to amend EDGX Rule 11.14 to extend the operation of the single stock circuit breaker... Exchange proposes to amend EDGX Rule 11.14 to extend the operation of a Pilot that allows the Exchange...

  5. Quantifying the seismicity on Taiwan

    NASA Astrophysics Data System (ADS)

    Wu, Yi-Hsuan; Chen, Chien-Chih; Turcotte, Donald L.; Rundle, John B.

    2013-07-01

    We quantify the seismicity on the island of Taiwan using the frequency-magnitude statistics of earthquakes since 1900. A break in Gutenberg-Richter scaling for large earthquakes in global seismicity has been observed, this break is also observed in our Taiwan study. The seismic data from the Central Weather Bureau Seismic Network are in good agreement with the Gutenberg-Richter relation taking b ≈ 1 when M < 7. For large earthquakes, M ≥ 7, the seismic data fit Gutenberg-Richter scaling with b ≈ 1.5. If the Gutenberg-Richter scaling for M < 7 earthquakes is extrapolated to larger earthquakes, we would expect a M > 8 earthquake in the study region about every 25 yr. However, our analysis shows a lower frequency of occurrence of large earthquakes so that the expected frequency of M > 8 earthquakes is about 200 yr. The level of seismicity for smaller earthquakes on Taiwan is about 12 times greater than in Southern California and the possibility of a M ≈ 9 earthquake north or south of Taiwan cannot be ruled out. In light of the Fukushima, Japan nuclear disaster, we also discuss the implications of our study for the three operating nuclear power plants on the coast of Taiwan.

  6. 76 FR 13660 - Polyvinyl Alcohol From Taiwan

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-03-14

    ... COMMISSION Polyvinyl Alcohol From Taiwan Determination On the basis of the record \\1\\ developed in the... United States is materially injured by reason of imports from Taiwan of polyvinyl alcohol, provided for... of a preliminary determination by Commerce that imports of polyvinyl alcohol from Taiwan were...

  7. Professional Counseling in Taiwan: Past to Future

    ERIC Educational Resources Information Center

    Guo, Yuh-Jen; Wang, Shu-Ching; Combs, Don C.; Lin, Yi-Chun; Johnson, Veronica

    2013-01-01

    Because of the recent introduction of a licensure law, professional counseling has grown rapidly in Taiwan after decades of slow development. The authors provide a historical review of the development of professional counseling in Taiwan and discuss the current status and future trajectory of professional counseling in Taiwan.

  8. Hybrid machine learning technique for forecasting Dhaka stock market timing decisions.

    PubMed

    Banik, Shipra; Khodadad Khan, A F M; Anwer, Mohammad

    2014-01-01

    Forecasting stock market has been a difficult job for applied researchers owing to nature of facts which is very noisy and time varying. However, this hypothesis has been featured by several empirical experiential studies and a number of researchers have efficiently applied machine learning techniques to forecast stock market. This paper studied stock prediction for the use of investors. It is always true that investors typically obtain loss because of uncertain investment purposes and unsighted assets. This paper proposes a rough set model, a neural network model, and a hybrid neural network and rough set model to find optimal buy and sell of a share on Dhaka stock exchange. Investigational findings demonstrate that our proposed hybrid model has higher precision than the single rough set model and the neural network model. We believe this paper findings will help stock investors to decide about optimal buy and/or sell time on Dhaka stock exchange.

  9. Hybrid Machine Learning Technique for Forecasting Dhaka Stock Market Timing Decisions

    PubMed Central

    Banik, Shipra; Khodadad Khan, A. F. M.; Anwer, Mohammad

    2014-01-01

    Forecasting stock market has been a difficult job for applied researchers owing to nature of facts which is very noisy and time varying. However, this hypothesis has been featured by several empirical experiential studies and a number of researchers have efficiently applied machine learning techniques to forecast stock market. This paper studied stock prediction for the use of investors. It is always true that investors typically obtain loss because of uncertain investment purposes and unsighted assets. This paper proposes a rough set model, a neural network model, and a hybrid neural network and rough set model to find optimal buy and sell of a share on Dhaka stock exchange. Investigational findings demonstrate that our proposed hybrid model has higher precision than the single rough set model and the neural network model. We believe this paper findings will help stock investors to decide about optimal buy and/or sell time on Dhaka stock exchange. PMID:24701205

  10. 26 CFR 1.1244(c)-1 - Section 1244 stock defined.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... derived from royalties, rents, dividends, interest, annuities, and sales or exchanges of stock or... paragraph shall be made on the basis of total gross receipts, except that gross receipts from the sales or... during the corporation's taxable year from the sale or exchange (including a sale or exchange to...

  11. 17 CFR 230.136 - Definition of certain terms in relation to assessable stock.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 17 Commodity and Securities Exchanges 2 2013-04-01 2013-04-01 false Definition of certain terms in relation to assessable stock. 230.136 Section 230.136 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933 General § 230.136 Definition of certain terms in relation to...

  12. Proceedings of the ACEI Summer Seminar (Taipei, Taiwan, Republic of China, July 9-11, 1980).

    ERIC Educational Resources Information Center

    Pacific Cultural Foundation (Republic of China).

    A total of 87 college professors, childhood development experts, and school teachers from the United States, Canada, the Republic of Korea, and the Philippines participated, along with 34 representatives from the host country of Taiwan, in a seminar to exchange views and experiences related to the role of the arts in child development. This volume…

  13. 77 FR 4593 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-01-30

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE... Rights and Warrants January 23, 2012. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934... NASDAQ Stock Market LLC (``Exchange'') filed with the Securities and Exchange Commission...

  14. Group identification in Indonesian stock market

    NASA Astrophysics Data System (ADS)

    Nurriyadi Suparno, Ervano; Jo, Sung Kyun; Lim, Kyuseong; Purqon, Acep; Kim, Soo Yong

    2016-08-01

    The characteristic of Indonesian stock market is interesting especially because it represents developing countries. We investigate the dynamics and structures by using Random Matrix Theory (RMT). Here, we analyze the cross-correlation of the fluctuations of the daily closing price of stocks from the Indonesian Stock Exchange (IDX) between January 1, 2007, and October 28, 2014. The eigenvalue distribution of the correlation matrix consists of noise which is filtered out using the random matrix as a control. The bulk of the eigenvalue distribution conforms to the random matrix, allowing the separation of random noise from original data which is the deviating eigenvalues. From the deviating eigenvalues and the corresponding eigenvectors, we identify the intrinsic normal modes of the system and interpret their meaning based on qualitative and quantitative approach. The results show that the largest eigenvector represents the market-wide effect which has a predominantly common influence toward all stocks. The other eigenvectors represent highly correlated groups within the system. Furthermore, identification of the largest components of the eigenvectors shows the sector or background of the correlated groups. Interestingly, the result shows that there are mainly two clusters within IDX, natural and non-natural resource companies. We then decompose the correlation matrix to investigate the contribution of the correlated groups to the total correlation, and we find that IDX is still driven mainly by the market-wide effect.

  15. Black monazite from Taiwan

    USGS Publications Warehouse

    Matzko, J.J.; Overstreet, W.C.

    1977-01-01

    Two forms of detrital monazite are known in offshore bars in southwestern Taiwan: a yellow-green to colorless form and an unusual but abundant pelletlike form, generally black but also colored gray or brown. These black pellets, which are about 160 by 200 microns in size, are composed of fine-grained monazite crystals from 2 to 20 microns in size. The pellets are associated with highly variable amounts of discrete grains of detrital quartz, rutile, amphibole, tourmaline, and other minerals. Intergrown with the monazite are quartz, a cerium oxide mineral, chlorite, sulfides, and other minerals. Opaqueness of the pelletlike monazite is due principally to the cryptocrystalline nature of part of the monazite; only a small part of the opaqueness can be attributed to opaque inclusions. The black pelletlike monazite lacks thorium and has a high content of europium. In this respect, as in color, shape, size, and inclusions, the pelletlike monazite differs from the yellow-green detrital monazite. Despite the fact that they occur together in the littoral placers, they appear to have had different origins. The yellow-green monazite originated as an accessory mineral in plutonic rocks and has accumulated at the coast through erosion and transport. The origin of the pelletlike monazite is as yet unknown, but it is here inferred that it originated in unconsolidated coastal plain sediments through migration of cerium from the detrital monazite during weathering, and of the intermediate weight mobile rare earths from clay minerals during diagenesis. Possibly these pelletlike grains are detrital particles formed through erosion and transport from originally larger aggregates cemented by diagenetic monazite.

  16. 26 CFR 1.358-6 - Stock basis in certain triangular reorganizations.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... corporation on the exchange of property for the assets or stock of a target corporation in a reorganization... percentage of T stock not acquired in the transaction is determined by taking into account the fair market... aggregate basis of $60 and fair market value of $100 and no liabilities. Pursuant to a plan, P forms S...

  17. 26 CFR 1.1032-1 - Disposition by a corporation of its own capital stock.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... stock. 1.1032-1 Section 1.1032-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1032-1... stock) as compensation for services is considered, for purposes of section 1032(a), as a disposition...

  18. 26 CFR 1.1032-1 - Disposition by a corporation of its own capital stock.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... stock. 1.1032-1 Section 1.1032-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1032-1... stock) as compensation for services is considered, for purposes of section 1032(a), as a disposition...

  19. 26 CFR 1.1032-1 - Disposition by a corporation of its own capital stock.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... stock. 1.1032-1 Section 1.1032-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1032-1... stock) as compensation for services is considered, for purposes of section 1032(a), as a disposition...

  20. 26 CFR 1.1032-1 - Disposition by a corporation of its own capital stock.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... stock. 1.1032-1 Section 1.1032-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1032-1... stock) as compensation for services is considered, for purposes of section 1032(a), as a disposition...

  1. 26 CFR 1.1032-1 - Disposition by a corporation of its own capital stock.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... stock. 1.1032-1 Section 1.1032-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Common Nontaxable Exchanges § 1.1032-1 Disposition by a... stock) as compensation for services is considered, for purposes of section 1032(a), as a disposition...

  2. 26 CFR 1.355-1 - Distribution of stock and securities of a controlled corporation.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... Holders § 1.355-1 Distribution of stock and securities of a controlled corporation. (a) Effective... in income of) the shareholders and security holders, of one or more existing businesses formerly... shareholders with respect to its stock or to its security holders in exchange for its securities....

  3. 26 CFR 1.355-1 - Distribution of stock and securities of a controlled corporation.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... Holders § 1.355-1 Distribution of stock and securities of a controlled corporation. (a) Effective... in income of) the shareholders and security holders, of one or more existing businesses formerly... shareholders with respect to its stock or to its security holders in exchange for its securities....

  4. 26 CFR 1.355-1 - Distribution of stock and securities of a controlled corporation.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... Holders § 1.355-1 Distribution of stock and securities of a controlled corporation. (a) Effective... in income of) the shareholders and security holders, of one or more existing businesses formerly... shareholders with respect to its stock or to its security holders in exchange for its securities....

  5. 26 CFR 1.1242-1 - Losses on small business investment company stock.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Losses on small business investment company....1242-1 Losses on small business investment company stock. (a) In general. Any taxpayer who sustains a... the sale or exchange, of the stock of a small business investment company (whether or not such...

  6. 26 CFR 1.1242-1 - Losses on small business investment company stock.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 26 Internal Revenue 11 2013-04-01 2013-04-01 false Losses on small business investment company... Losses § 1.1242-1 Losses on small business investment company stock. (a) In general. Any taxpayer who... from the sale or exchange, of the stock of a small business investment company (whether or not...

  7. 26 CFR 1.1242-1 - Losses on small business investment company stock.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 26 Internal Revenue 11 2014-04-01 2014-04-01 false Losses on small business investment company... Losses § 1.1242-1 Losses on small business investment company stock. (a) In general. Any taxpayer who... from the sale or exchange, of the stock of a small business investment company (whether or not...

  8. 76 FR 78325 - Self-Regulatory Organizations; NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-16

    ... COMMISSION Self-Regulatory Organizations; NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Option Fee Disputes December 9, 2011. Pursuant to Section 19... hereby given that on November 30, 2011. The NASDAQ Stock Market LLC (``NASDAQ'' or ``Exchange'')...

  9. Ophthalmic plastic and orbital surgery in Taiwan.

    PubMed

    Hsu, Chi-Hsin; Lin, I-Chan; Shen, Yun-Dun; Hsu, Wen-Ming

    2014-06-01

    We describe in this paper the current status of ophthalmic plastic and orbital surgery in Taiwan. Data were collected from the Bureau of National Health Insurance of Taiwan, the Bulletin of the Taiwan Ophthalmic Plastic and Reconstructive Society, and the Statistics Yearbook of Practicing Physicians and Health Care Organizations in Taiwan by the Taiwan Medical Association. We ascertained that 94 ophthalmologists were oculoplastic surgeons and accounted for 5.8% of 1621 ophthalmologists in Taiwan. They had their fellowship training abroad (most ophthalmologists trained in the United States of America) or in Taiwan. All ophthalmologists were well trained and capable of performing major oculoplastic surgeries. The payment rates by our National Health Insurance for oculoplastic and orbital surgeries are relatively low, compared to Medicare payments in the United States. Ophthalmologists should promote the concept that oculoplastic surgeons specialize in periorbital plastic and aesthetic surgeries. However, general ophthalmologists should receive more educational courses on oculoplastic and cosmetic surgery.

  10. Kindergartener's Technology Education in Taiwan.

    ERIC Educational Resources Information Center

    Lai, Chun-Chin

    According to the American Association for Advancement of Sciences, the National Academy of Engineering, and the International Technology Education Association (ITEA) and its Technology for All Americans Project (TfAAP), technology education should begin in kindergarten. Educators in Taiwan have also advocated beginning technology education in…

  11. Supertyphoon Nepartak Barreling Towards Taiwan

    Atmospheric Science Data Center

    2016-12-30

    ... shows the central portion of Nepartak and the storm’s eye. The image is about 378 km (235 miles) across. The island of Manila in the ... miles south of Taiwan, is visible to the southwest of the eye. The image shows that Nepartak’s center is extremely compact, rather than ...

  12. Herbal Medicine Research in Taiwan*

    PubMed Central

    Kaphle, Krishna; Wu, Leang-Shin; Yang, Nai-Yen Jack; Lin, Jen-Hsou

    2006-01-01

    Of all the countries in the world, why did you choose Taiwan to pursue your study? It is a question that I (comments of the first author) have answered a thousand times. My first visit to a laboratory at National Taiwan University opened my eyes to the possibilities of herbal medicine research, especially in the area of veterinary medicine. It became my ambition to link the knowledge of Traditional Chinese Medicine (TCM) and Ayurveda from the Indian subcontinent and their integration with other systems of medicine, including Western medicine (WM), to achieve the concept of Sustainable Medicine, firstly for animals and then for humans. The Ministry of Economic Affairs (MOEA) has implemented a technology development program to quickly establish the key technologies, and this is a moment of opportunity for Taiwan's traditional herbal medicine industry to upgrade and transform itself. This paper, initially intended to be a student's narration, has evolved into a multi-author treatise on the present state and likely future scenario of herbal medicine research in Taiwan. PMID:16550238

  13. 47 CFR 65.303 - Cost of preferred stock.

    Code of Federal Regulations, 2010 CFR

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Cost of preferred stock. 65.303 Section 65.303 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) COMMON CARRIER SERVICES (CONTINUED) INTERSTATE RATE OF RETURN PRESCRIPTION PROCEDURES AND METHODOLOGIES Exchange Carriers § 65.303 Cost of...

  14. 26 CFR 54.4978-1T - Questions and answers relating to the tax on certain dispositions by employee stock ownership...

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ..., exchange, or distribution. However, in the case of any exchange of qualified securities for stock of... of the employee after the employee has attained 591/2 years of age; (3) The disability of...

  15. Tracing Origin of sulfur in hydrothermal system of Eastern Taiwan

    NASA Astrophysics Data System (ADS)

    Hsu, Hsiao-Yuan; You, Chen-Feng; Chung, Chuan-Hsiung; Aggarwal, Suresh Kumar

    2016-04-01

    Multiple sulfur isotope results and sulfate concentrations are reported for different hydrothermal system in many countries. However, Taiwan is a seismically active country with plenty of hot spring resources, but only a few studies discuss about sulfur isotopes of them. No exhaustive study has been done to explain the high concentration and origin of sulfur in hydrothermal system of Taiwan, and chemical reaction between sulfide and sulfate. The true sulfur speciation in geothermal waters is difficult to preserve in samples for laboratory analysis. However, isotopic analysis is possible for the two species SO42- and S2O32-, together. Analysis of other species was also carried out for a possible study to understand the inter-conversion mechanism of sulfur species, and transport of other elements in aquifers, along with sulfur cycling in hydrothermal system of Taiwan. Fifteen samples, hot spring (5) and river water (10) were collected from East Taiwan and 5 hot spring samples were also collected from Japan for comparison. The samples were pre-concentrated and subjected to separation with anion exchange resin AGI-X8 and isotopic analysis with MC-ICPMS. The anions and cations were determined by Ion chromatography and ICP-OES, respectively. Samples from western Japan have been defined as Na-Cl type ground water and originate from 'fossil seawater' entrapped in the formations. The K/Cl and SO4/Cl ratios in hot spring water samples lie into a range between rain water and sea water. The Br/Cl ratios in hot spring water samples were close to that of sea water line, and could be distinguished from river water samples. Trace elements Li and B were high in hot spring samples from eastern Taiwan. This can be due to strong weathering in groundwater system. δ34S values in most of the hot spring samples were in the range between 15.74-24.87 ‰ which is close to δ34S in seawater(+21). However, δ34S in samples from Zhiben (Taiwan) and Kurama (Japan) were -1.50‰ and -3.17

  16. Stock Market Savvy.

    ERIC Educational Resources Information Center

    Okula, Susan

    2003-01-01

    This issue of Keying In, the newsletter of the National Business Education Association, focuses upon teaching young adults how to develop both investment strategies and an understanding of the stock market. The first article, "Sound Investing Know-How: A Must for Today's Young Adults," describes how young adults can plan for their own…

  17. Focus on Compression Stockings

    MedlinePlus

    ... soap. Do not use Woolite™ detergent. Use warm water and wash by hand or in the gentle cycle in the washing machine. After rinsing the compression stocking completely, remove excess water by rolling it in a ... the dryer on the deli- cate cycle at a cool temperature. It may be convenient ...

  18. Dominating Clasp of the Financial Sector Revealed by Partial Correlation Analysis of the Stock Market

    PubMed Central

    Kenett, Dror Y.; Tumminello, Michele; Madi, Asaf; Gur-Gershgoren, Gitit; Mantegna, Rosario N.; Ben-Jacob, Eshel

    2010-01-01

    What are the dominant stocks which drive the correlations present among stocks traded in a stock market? Can a correlation analysis provide an answer to this question? In the past, correlation based networks have been proposed as a tool to uncover the underlying backbone of the market. Correlation based networks represent the stocks and their relationships, which are then investigated using different network theory methodologies. Here we introduce a new concept to tackle the above question—the partial correlation network. Partial correlation is a measure of how the correlation between two variables, e.g., stock returns, is affected by a third variable. By using it we define a proxy of stock influence, which is then used to construct partial correlation networks. The empirical part of this study is performed on a specific financial system, namely the set of 300 highly capitalized stocks traded at the New York Stock Exchange, in the time period 2001–2003. By constructing the partial correlation network, unlike the case of standard correlation based networks, we find that stocks belonging to the financial sector and, in particular, to the investment services sub-sector, are the most influential stocks affecting the correlation profile of the system. Using a moving window analysis, we find that the strong influence of the financial stocks is conserved across time for the investigated trading period. Our findings shed a new light on the underlying mechanisms and driving forces controlling the correlation profile observed in a financial market. PMID:21188140

  19. Dominating clasp of the financial sector revealed by partial correlation analysis of the stock market.

    PubMed

    Kenett, Dror Y; Tumminello, Michele; Madi, Asaf; Gur-Gershgoren, Gitit; Mantegna, Rosario N; Ben-Jacob, Eshel

    2010-12-20

    What are the dominant stocks which drive the correlations present among stocks traded in a stock market? Can a correlation analysis provide an answer to this question? In the past, correlation based networks have been proposed as a tool to uncover the underlying backbone of the market. Correlation based networks represent the stocks and their relationships, which are then investigated using different network theory methodologies. Here we introduce a new concept to tackle the above question--the partial correlation network. Partial correlation is a measure of how the correlation between two variables, e.g., stock returns, is affected by a third variable. By using it we define a proxy of stock influence, which is then used to construct partial correlation networks. The empirical part of this study is performed on a specific financial system, namely the set of 300 highly capitalized stocks traded at the New York Stock Exchange, in the time period 2001-2003. By constructing the partial correlation network, unlike the case of standard correlation based networks, we find that stocks belonging to the financial sector and, in particular, to the investment services sub-sector, are the most influential stocks affecting the correlation profile of the system. Using a moving window analysis, we find that the strong influence of the financial stocks is conserved across time for the investigated trading period. Our findings shed a new light on the underlying mechanisms and driving forces controlling the correlation profile observed in a financial market.

  20. Plate Boundary Observatory in Taiwan

    NASA Astrophysics Data System (ADS)

    Yu, S.; Tsai, C.

    2003-12-01

    The island of Taiwan is situated in the plate boundary zone between the Eurasian and the Philippine Sea plates. The Philippine Sea plate is subducting northwestward underneath the Eurasian plate along the Ryukyu Trench in the north, while the Eurasian plate underthrusts the Philippine Sea plate along the Manila Trench in the south. Taking advantage of the extremely high strain rate in the Taiwan area, an integrated National Science Council project, Plate Boundary Observatory in Taiwan (PBOT), was initiated following the idea of US PBO. The scientific goal of PBOT is to observe the crustal deformation on various temporal and spatial scales in the Taiwan plate boundary zone employing available state of the art techniques for measuring crustal strain. The techniques include seismology, Global Positioning System (GPS), Interferometric Synthetic Aperture Radar (InSAR), borehole strainmeter, and earthquake geology. They are complementary to each other and form a complete spectrum of measuring various periods of crustal strain. The process of crustal deformation is generally quite slow. To obtain a reliable result, we usually need to persist in the observations for several years or even decades. Thus the PBOT should be a long-term project. In the first phase of 3 years period from 2003 to 2006, we will focus on the two areas, i.e. the plate suture zone in the Longitudinal Valley area and the western Taiwan where the higher seismic hazard is expected. A five-year national program, entitled ­Program for Earthquake and Active-fault Research (PEAR)­" was initiated after the disastrous 1999 Chi-Chi earthquake (Mw 7.6). As part of the PEAR, a dense continuous GPS array consisting of 150 new and about 50 pre-existing stations will be completed in the Taiwan area by the end of 2005 through a joint effort by the Central Weather Bureau and the Institute of Earth Sciences, Academia Sinica. The 50 new stations are going to be evenly distributed around the Taiwan Island. The other

  1. Challenges and Strategies of Laboratory Diagnosis for Newly Emerging Influenza Viruses in Taiwan: A Decade after SARS

    PubMed Central

    Lin, Jih-Hui; Wu, Ho-Sheng

    2015-01-01

    Since the first case of severe acute respiratory syndrome (SARS) in Taiwan was identified in March 2003, viral respiratory infections, in particular the influenza virus, have become a national public health concern. Taiwan would face a serious threat of public health problems if another SARS epidemic overlapped with a flu outbreak. After SARS, the Taiwan Centers for Disease Control accelerated and strengthened domestic research on influenza and expanded the exchange of information with international counterparts. The capacity of influenza A to cross species barriers presents a potential threat to human health. Given the mutations of avian flu viruses such as H7N9, H6N1, and H10N8, all countries, including Taiwan, must equip themselves to face a possible epidemic or pandemic. Such preparedness requires global collaboration. PMID:26290876

  2. Universal behaviour in the stock market: Time dynamics of the electronic orderbook

    NASA Astrophysics Data System (ADS)

    Kızılersü, Ayşe; Kreer, Markus; Thomas, Anthony W.; Feindt, Michael

    2016-07-01

    A consequence of the digital revolution is that share trading at the stock exchange takes place via electronic order books which are accessed by traders and investors via the internet. Our empirical findings of the London Stock Exchange demonstrate that once ultra-high frequency manipulation on time scales less than around ten milliseconds is excluded, all relevant changes in the order book happen with time differences that are randomly distributed and well described by a left-truncated Weibull distribution with universal shape parameter (independent of time and same for all stocks). The universal shape parameter corresponds to maximum entropy of the distribution.

  3. 78 FR 41158 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-09

    ... trading center that is the best bid or best offer of a national securities exchange, the best bid or best offer of The Nasdaq Stock Market, Inc., or the best bid or best offer of a national securities association other than the best bid or best offer of The Nasdaq Stock Market, Inc. in an NMS stock that...

  4. 76 FR 7614 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-02-10

    ... Immediate Effectiveness of Proposed Rule Change Related to Stock-Option Orders February 4, 2011. Pursuant to..., the Exchange has the ability to vary this process for market stock-option orders that contain one or...) of a market stock- option order will automatically route to CBOE's Hybrid System for processing as...

  5. 76 FR 74111 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-11-30

    ... related to call options. Rights and warrants entitle owners to purchase shares of stock at predetermined... trading in the options on that stock until trading has resumed in the stock. Given the proposed exclusion... COMMISSION Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing...

  6. 78 FR 19348 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-29

    .../CBOELegalRegulatoryHome.aspx ), at the Exchange's Office of the Secretary, and at the Commission's Public... Exchange to turn off the Retail Automation Execution System (``RAES'') with respect to a stock-...

  7. Severe Dengue Fever Outbreak in Taiwan

    PubMed Central

    Wang, Sheng-Fan; Wang, Wen-Hung; Chang, Ko; Chen, Yen-Hsu; Tseng, Sung-Pin; Yen, Chia-Hung; Wu, Deng-Chyang; Chen, Yi-Ming Arthur

    2016-01-01

    Dengue fever (DF) is a vector-borne disease caused by dengue viruses (DENVs). Epidemic dengue occurs intermittently in Taiwan. In 2014, Taiwan experienced its largest DF outbreak. There were 15,732 DF cases reported. There were a total of 136 dengue hemorrhagic fever (DHF) cases, of which 20 resulted in death. Most DF cases were reported in southern Taiwan. A total of 15,043 (96%) cases were from Kaohsiung, a modern city in southern Taiwan. This report reviews DF epidemics in Taiwan during 2005–2014. The correlation between DF and DHF along with temperature and precipitation were conjointly examined. We conclude that most dengue epidemics in Taiwan resulted from imported DF cases. Results indicate three main factors that may have been associated with this DF outbreak in Kaohsiung: an underground pipeline explosion combined with subsequent rainfall and higher temperature. These factors may have enhanced mosquito breeding activity, facilitating DENV transmission. PMID:26572871

  8. Taiwan - AFOSR Nanoscience Initiative Status

    DTIC Science & Technology

    2005-12-06

    University • 04 x, Synthesis and Study of Water-soluble Two- photon Absorptive Fullerene Compounds, Dr. Long Y. Chiang, National Taiwan University 15...Block Copolymer/Quantum Dot Nanocomposites for Optical Application, Kung-Hwa Wei, National Chiao Tung University – 044069, 3D Photonic Crystals Build...quantum nanojets – structures, dynamics and energetic, Huei-huang Chiu, National Cheng Kung University 19 Agenda • Overview • Research Funding • WOS

  9. Occupational Neurotoxic Diseases in Taiwan

    PubMed Central

    Liu, Chi-Hung; Huang, Chu-Yun

    2012-01-01

    Occupational neurotoxic diseases have become increasingly common in Taiwan due to industrialization. Over the past 40 years, Taiwan has transformed from an agricultural society to an industrial society. The most common neurotoxic diseases also changed from organophosphate poisoning to heavy metal intoxication, and then to organic solvent and semiconductor agent poisoning. The nervous system is particularly vulnerable to toxic agents because of its high metabolic rate. Neurological manifestations may be transient or permanent, and may range from cognitive dysfunction, cerebellar ataxia, Parkinsonism, sensorimotor neuropathy and autonomic dysfunction to neuromuscular junction disorders. This study attempts to provide a review of the major outbreaks of occupational neurotoxins from 1968 to 2012. A total of 16 occupational neurotoxins, including organophosphates, toxic gases, heavy metals, organic solvents, and other toxic chemicals, were reviewed. Peer-reviewed articles related to the electrophysiology, neuroimaging, treatment and long-term follow up of these neurotoxic diseases were also obtained. The heavy metals involved consisted of lead, manganese, organic tin, mercury, arsenic, and thallium. The organic solvents included n-hexane, toluene, mixed solvents and carbon disulfide. Toxic gases such as carbon monoxide, and hydrogen sulfide were also included, along with toxic chemicals including polychlorinated biphenyls, tetramethylammonium hydroxide, organophosphates, and dimethylamine borane. In addition we attempted to correlate these events to the timeline of industrial development in Taiwan. By researching this topic, the hope is that it may help other developing countries to improve industrial hygiene and promote occupational safety and health care during the process of industrialization. PMID:23251841

  10. Structural features offshore northern Taiwan

    NASA Astrophysics Data System (ADS)

    Yicheng Yang, Eason; Liu, Char-Shine; Chang, Jih-Hsin; Chiu, Chien-Hsuan

    2016-04-01

    The area offshore northern Taiwan is the place where East China Sea Shelf extends into the Southern Okinawa Trough, and where pre-Pleistocene arc-continental collision had occurred. Comparison between fault distribution in the area with previously published results suggests that the fault distribution and regional structural framework are still controversial. Using marine multichannel seismic reflection data collected in 3 marine geophysical survey cruises, we remapped the fault distribution in the northern offshore area of Taiwan. By analyzing all the seismic profiles using the KINGDOM suite (a seismic interpretation software), a new fault distribution map is presented, and a subsurface unconformity PRSB (Pliocene reflection sequence boundary) is identified. Six major NE-SW trending high-angle normal faults cut the PRSB can be traced to the fault systems on land northernmost Taiwan. These normal faults are located between the Southern Okinawa Trough and the East China Sea continental shelf basin, and have been suggested to be reactivated from pre-existing reverse faults. The offsets of fault ramps in PRSB increase toward southeast. The isopach map of the study area compiled shows that sediment strata overlying PRSB thin toward northwest.

  11. [Intracranial arteriovenous malformations in Taiwan].

    PubMed

    Lin, L S; Shih, C J

    1993-12-01

    This paper analyzes the available literature on intracranial arteriovenous malformations (AVM) in Taiwan. The incidence and symptoms of the disease are studied with a view to assisting practitioners in its recognition. The incidence of intracranial AVM in patients who have suffered hemorrhagic stroke in Taiwan is 2.5% to 4.8%, with the male to female ratio being 1.5:1. The peak age at which bleeding from intracranial AVM occurred ranged from 10 to 40 years; bleeding showed no seasonal variation. Sudden headaches, vomiting, and disturbance of consciousness were the commonest presenting symptoms of AVM, similar to the rupture of intracranial aneurysms. However, the possibility of focal neurological deficit among patients with intracranial AVM was higher than in patients with intracranial aneurysms. Risk factors, such as hypertension, diabetes mellitus, heart disease, smoking and alcohol intake showed no close relationship to bleeding in intracranial AVM. Pregnancy is not a risk factor in female patients with intracranial AVM with no history of hemorrhage. Small intracranial AVM are more likely to bleed. Since 1961 the majority of Taiwan's intracranial AVM patients have been treated surgically, while before that date general medicine was the treatment of choice. In recent years, several developments such as operation microscope, microsurgical instruments and microsurgical techniques have enhanced the efficacy of surgical intervention in the treatment of AVM. When the mortality and morbidity rates resulting from the two forms of treatment are compared, surgical treatment shows a better prognosis for the treatment of intracranial AVM.

  12. Profitability of Contrarian Strategies in the Chinese Stock Market

    PubMed Central

    Shi, Huai-Long; Jiang, Zhi-Qiang; Zhou, Wei-Xing

    2015-01-01

    This paper reexamines the profitability of loser, winner and contrarian portfolios in the Chinese stock market using monthly data of all stocks traded on the Shanghai Stock Exchange and Shenzhen Stock Exchange covering the period from January 1997 to December 2012. We find evidence of short-term and long-term contrarian profitability in the whole sample period when the estimation and holding horizons are 1 month or longer than 12 months and the annualized return of contrarian portfolios increases with the estimation and holding horizons. We perform subperiod analysis and find that the long-term contrarian effect is significant in both bullish and bearish states, while the short-term contrarian effect disappears in bullish states. We compare the performance of contrarian portfolios based on different grouping manners in the estimation period and unveil that decile grouping outperforms quintile grouping and tertile grouping, which is more evident and robust in the long run. Generally, loser portfolios and winner portfolios have positive returns and loser portfolios perform much better than winner portfolios. Both loser and winner portfolios in bullish states perform better than those in the whole sample period. In contrast, loser and winner portfolios have smaller returns in bearish states, in which loser portfolio returns are significant only in the long term and winner portfolio returns become insignificant. These results are robust to the one-month skipping between the estimation and holding periods and for the two stock exchanges. Our findings show that the Chinese stock market is not efficient in the weak form. These findings also have obvious practical implications for financial practitioners. PMID:26368537

  13. Profitability of Contrarian Strategies in the Chinese Stock Market.

    PubMed

    Shi, Huai-Long; Jiang, Zhi-Qiang; Zhou, Wei-Xing

    2015-01-01

    This paper reexamines the profitability of loser, winner and contrarian portfolios in the Chinese stock market using monthly data of all stocks traded on the Shanghai Stock Exchange and Shenzhen Stock Exchange covering the period from January 1997 to December 2012. We find evidence of short-term and long-term contrarian profitability in the whole sample period when the estimation and holding horizons are 1 month or longer than 12 months and the annualized return of contrarian portfolios increases with the estimation and holding horizons. We perform subperiod analysis and find that the long-term contrarian effect is significant in both bullish and bearish states, while the short-term contrarian effect disappears in bullish states. We compare the performance of contrarian portfolios based on different grouping manners in the estimation period and unveil that decile grouping outperforms quintile grouping and tertile grouping, which is more evident and robust in the long run. Generally, loser portfolios and winner portfolios have positive returns and loser portfolios perform much better than winner portfolios. Both loser and winner portfolios in bullish states perform better than those in the whole sample period. In contrast, loser and winner portfolios have smaller returns in bearish states, in which loser portfolio returns are significant only in the long term and winner portfolio returns become insignificant. These results are robust to the one-month skipping between the estimation and holding periods and for the two stock exchanges. Our findings show that the Chinese stock market is not efficient in the weak form. These findings also have obvious practical implications for financial practitioners.

  14. A self-similar hierarchy of the Korean stock market

    NASA Astrophysics Data System (ADS)

    Lim, Gyuchang; Min, Seungsik; Yoo, Kun-Woo

    2013-01-01

    A scaling analysis is performed on market values of stocks listed on Korean stock exchanges such as the KOSPI and the KOSDAQ. Different from previous studies on price fluctuations, market capitalizations are dealt with in this work. First, we show that the sum of the two stock exchanges shows a clear rank-size distribution, i.e., the Zipf's law, just as each separate one does. Second, by abstracting Zipf's law as a γ-sequence, we define a self-similar hierarchy consisting of many levels, with the numbers of firms at each level forming a geometric sequence. We also use two exponential functions to describe the hierarchy and derive a scaling law from them. Lastly, we propose a self-similar hierarchical process and perform an empirical analysis on our data set. Based on our findings, we argue that all money invested in the stock market is distributed in a hierarchical way and that a slight difference exists between the two exchanges.

  15. 1. General view of stockyards from livestock exchange building showing ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    1. General view of stockyards from livestock exchange building showing (l-r) cattle pens and Buckingham Road, which terminates at "L" Street. View to north. - South Omaha Union Stock Yards, 2900 "O" Plaza, Omaha, Douglas County, NE

  16. 78 FR 9975 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-12

    ... Board Options Exchange, Incorporated Rules * * * * * 1. Rule 6.3C--Individual Stock Trading Pause Due to... COMMISSION Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Individual Stock Trading Pause Pilot...

  17. 78 FR 60977 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-10-02

    ..., Incorporated, Chicago Stock Exchange, Inc., EDGA Exchange, Inc., EDGX Exchange, Inc., International Securities... pilot program promotes just and equitable principals of trade in that it promotes transparency and... written data, views and arguments concerning the foregoing, including whether the proposal is...

  18. 17 CFR 240.12a-7 - Exemption of stock contained in standardized market baskets from section 12(a) of the Act.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Exemption of stock contained in standardized market baskets from section 12(a) of the Act. 240.12a-7 Section 240.12a-7 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION (CONTINUED) GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934 Rules...

  19. Indigenous Case of Disseminated Histoplasmosis, Taiwan

    PubMed Central

    Lai, Chung-Hsu; Huang, Chun-Kai; Chin, Chuen; Yang, Ya-Ting

    2007-01-01

    We report the first indigenous case of disseminated histoplasmosis in Taiwan diagnosed by histopathology of bone marrow, microbiologic morphology, and PCR assay of the isolated fungus. This case suggests that histoplasmosis should be 1 of the differential diagnoses of opportunistic infections in immunocompromised patients in Taiwan. PMID:17370526

  20. 75 FR 61175 - Polyvinyl Alcohol From Taiwan

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-10-04

    ... COMMISSION Polyvinyl Alcohol From Taiwan AGENCY: United States International Trade Commission. ACTION... of polyvinyl alcohol, provided for in subheading 3905.30.00 of the Harmonized Tariff Schedule of the... of polyvinyl alcohol from Taiwan are being sold in the United States at less than fair value...

  1. Evolutionary model of stock markets

    NASA Astrophysics Data System (ADS)

    Kaldasch, Joachim

    2014-12-01

    The paper presents an evolutionary economic model for the price evolution of stocks. Treating a stock market as a self-organized system governed by a fast purchase process and slow variations of demand and supply the model suggests that the short term price distribution has the form a logistic (Laplace) distribution. The long term return can be described by Laplace-Gaussian mixture distributions. The long term mean price evolution is governed by a Walrus equation, which can be transformed into a replicator equation. This allows quantifying the evolutionary price competition between stocks. The theory suggests that stock prices scaled by the price over all stocks can be used to investigate long-term trends in a Fisher-Pry plot. The price competition that follows from the model is illustrated by examining the empirical long-term price trends of two stocks.

  2. 12 CFR 1263.20 - Stock purchase.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 12 Banks and Banking 10 2014-01-01 2014-01-01 false Stock purchase. 1263.20 Section 1263.20 Banks and Banking FEDERAL HOUSING FINANCE AGENCY FEDERAL HOME LOAN BANKS MEMBERS OF THE BANKS Stock Requirements § 1263.20 Stock purchase. (a) Minimum stock purchase. Each member shall purchase stock in the...

  3. 12 CFR 925.23 - Excess stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Excess stock. 925.23 Section 925.23 Banks and... BANKS Stock Requirements § 925.23 Excess stock. (a) Sale of excess stock. Subject to the restriction in paragraph (b) of this section, a member may purchase excess stock as long as the purchase is approved by...

  4. 12 CFR 1263.20 - Stock purchase.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 12 Banks and Banking 9 2013-01-01 2013-01-01 false Stock purchase. 1263.20 Section 1263.20 Banks and Banking FEDERAL HOUSING FINANCE AGENCY FEDERAL HOME LOAN BANKS MEMBERS OF THE BANKS Stock Requirements § 1263.20 Stock purchase. (a) Minimum stock purchase. Each member shall purchase stock in the...

  5. 12 CFR 1263.20 - Stock purchase.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 12 Banks and Banking 9 2012-01-01 2012-01-01 false Stock purchase. 1263.20 Section 1263.20 Banks and Banking FEDERAL HOUSING FINANCE AGENCY FEDERAL HOME LOAN BANKS MEMBERS OF THE BANKS Stock Requirements § 1263.20 Stock purchase. (a) Minimum stock purchase. Each member shall purchase stock in the...

  6. 12 CFR 1263.20 - Stock purchase.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 7 2011-01-01 2011-01-01 false Stock purchase. 1263.20 Section 1263.20 Banks and Banking FEDERAL HOUSING FINANCE AGENCY FEDERAL HOME LOAN BANKS MEMBERS OF THE BANKS Stock Requirements § 1263.20 Stock purchase. (a) Minimum stock purchase. Each member shall purchase stock in the...

  7. 12 CFR 925.20 - Stock purchase.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Stock purchase. 925.20 Section 925.20 Banks and... BANKS Stock Requirements § 925.20 Stock purchase. (a) Minimum stock purchase. Each member shall purchase stock in the Bank in which it is a member in an amount equal to the greater of: (1) $500; (2) 1...

  8. Upper-ocean currents around Taiwan

    NASA Astrophysics Data System (ADS)

    Liang, W.-D.; Tang, T. Y.; Yang, Y. J.; Ko, M. T.; Chuang, W.-S.

    2003-03-01

    Current velocity, measured by Shipboard Acoustic Doppler Current Profiler (Sb-ADCP) during 1991-2000, was used to study the upper-ocean (<300 m) currents around Taiwan. The collected data were debugged, calibrated, grid, and averaged to compose a three-dimensional current-velocity distribution. The validity of the composite current velocity was supported by 12 sets of moored current-velocity time series. Qualitative agreement was obtained. The moored time series also indicated that the seasonal variation of current around Taiwan was generally weak except for the shallow-water regimes. The composite and moored currents revealed a branch of the Kuroshio that intruded steadily and persistently into the South China Sea. Part of the intruded Kuroshio flowed out of the South China Sea through the northern Luzon Strait and re-united with the main stream Kuroshio. The Kuroshio had two velocity maximum cores southeast of Taiwan, but gradually combined into one as the Kuroshio flowed north. The Kuroshio was deflected by the I-Lan Ridge east of Taiwan and the zonal-running shelf break northeast of Taiwan. At the shelf break, the Kuroshio split, with one branch intruding onto the shelf. West of the Luzon Strait, the Kuroshio intruded into the South China Sea. Some water flowed northward into the Taiwan Strait and re-joined the Kuroshio. Currents in the Taiwan Strait flowed primarily in a northward direction, except for the southward current near the coast of Mainland China. North of the Taiwan Strait, a branch of the northward flow followed the northern coast of Taiwan to join the Kuroshio. The composite current varied consistently from season to season. There was generally poor correlation between currents and local winds, especially in the deep-water regime. Remote forces were important in the currents around Taiwan.

  9. 76 FR 13982 - Antidumping Duty Order: Polyvinyl Alcohol From Taiwan

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-03-15

    ... International Trade Administration Antidumping Duty Order: Polyvinyl Alcohol From Taiwan AGENCY: Import... Department is issuing an antidumping duty order on polyvinyl alcohol (PVA) from Taiwan. DATES: Effective Date... value in the antidumping duty investigation of PVA from Taiwan. See Polyvinyl Alcohol From Taiwan:...

  10. 76 FR 52724 - Self-Regulatory Organizations; the NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-23

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; the NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Pilot Period of the Trading Pause for NMS Stocks August...

  11. 78 FR 6382 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-30

    ... COMMISSION Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...\\ notice is hereby given that on January 16, 2013, The NASDAQ Stock Market LLC (``NASDAQ'' or ``Exchange... of the Proposed Rule Change NASDAQ proposes to list and trade option contracts overlying 10 shares...

  12. 75 FR 28839 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-05-24

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of a Proposed Rule Change To Establish a Trading Pause for Individual Stocks Contained in the Standard & Poor's 500 Index That Experience a Price Change of 10%...

  13. 78 FR 19791 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-02

    ... route orders in options listed and open for trading to destination markets. Each time NOS routes to away... COMMISSION Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate... that on March 19, 2013, The NASDAQ Stock Market LLC (``NASDAQ'' or ``Exchange'') filed with...

  14. 77 FR 74538 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-12-14

    ... COMMISSION Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate... Financial Industry Regulatory Authority (``FINRA'') December 10, 2012. Pursuant to Section 19(b)(1) of the... on November 26, 2012, The NASDAQ Stock Market LLC (the ``Exchange'') filed with the Securities...

  15. 77 FR 57171 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Designation of a Longer...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-09-17

    ... Financial Markets Association, dated August 22, 2012; Mark Shelton, Group Managing Director and General... COMMISSION Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Designation of a Longer... September 12, 2012. On July 23, 2012, The NASDAQ Stock Market LLC (``NASDAQ'' or ``Exchange'') filed...

  16. 75 FR 5822 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-02-04

    ... COMMISSION Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change, as Modified by Amendment No. 1 Thereto, To Amend Its Financial... hereby given that on January ] 21, 2010, The NASDAQ Stock Market LLC (the ``Exchange'' or...

  17. 76 FR 20407 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-04-12

    ... COMMISSION Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend NASDAQ Rule 3011 To Reflect Changes to a Corresponding Financial..., 2011, The NASDAQ Stock Market LLC (the ``Exchange'' or ``NASDAQ'') filed with the Securities...

  18. 78 FR 26820 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-05-08

    ... raise any issues of intra-market competition because it involves inbound routing from an affiliated... COMMISSION Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of Proposed Rule... NASDAQ Stock Market LLC (the ``Exchange'' or ``Nasdaq'') filed with the Securities and...

  19. 78 FR 50123 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-16

    ... free and open market and a national market system, and, in general, to protect investors and the public... COMMISSION Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of a Proposed Rule... that on July 31, 2013, The NASDAQ Stock Market LLC (``NASDAQ'' or the ``Exchange'') filed with...

  20. MainXchange in the Classroom: The New Internet Stock Market Game. Teacher's Guide and Student Activities.

    ERIC Educational Resources Information Center

    1998

    This teaching guide/student activities booklet, for grades 6-9 and 7-11, outlines an Internet-based stock exchange simulation that allows students to learn about the stock market in a fun format. The simulation (the "MainXchange") described in the booklet offers students the opportunity to engage in "real-life" investing, while…

  1. Empirical investigation of stock price dynamics in an emerging market

    NASA Astrophysics Data System (ADS)

    Palágyi, Zoltán; Mantegna, Rosario N.

    1999-07-01

    We study the development of an emerging market - the Budapest Stock Exchange - by investigating the time evolution of some statistical properties of heavily traded stocks. Moving quarter by quarter over a period of two and a half years we analyze the scaling properties of the standard deviation of intra-day log-price changes. We observe scaling using both seconds and ticks as units of time. For the investigated stocks a Levy shape is a good approximation to the probability density function of tick-by-tick log-price changes in each quarter: the index of the distribution follows an increasing trend, suggesting it could be used as a measure of market efficiency.

  2. Statistical properties and pre-hit dynamics of price limit hits in the Chinese stock markets.

    PubMed

    Wan, Yu-Lei; Xie, Wen-Jie; Gu, Gao-Feng; Jiang, Zhi-Qiang; Chen, Wei; Xiong, Xiong; Zhang, Wei; Zhou, Wei-Xing

    2015-01-01

    Price limit trading rules are adopted in some stock markets (especially emerging markets) trying to cool off traders' short-term trading mania on individual stocks and increase market efficiency. Under such a microstructure, stocks may hit their up-limits and down-limits from time to time. However, the behaviors of price limit hits are not well studied partially due to the fact that main stock markets such as the US markets and most European markets do not set price limits. Here, we perform detailed analyses of the high-frequency data of all A-share common stocks traded on the Shanghai Stock Exchange and the Shenzhen Stock Exchange from 2000 to 2011 to investigate the statistical properties of price limit hits and the dynamical evolution of several important financial variables before stock price hits its limits. We compare the properties of up-limit hits and down-limit hits. We also divide the whole period into three bullish periods and three bearish periods to unveil possible differences during bullish and bearish market states. To uncover the impacts of stock capitalization on price limit hits, we partition all stocks into six portfolios according to their capitalizations on different trading days. We find that the price limit trading rule has a cooling-off effect (object to the magnet effect), indicating that the rule takes effect in the Chinese stock markets. We find that price continuation is much more likely to occur than price reversal on the next trading day after a limit-hitting day, especially for down-limit hits, which has potential practical values for market practitioners.

  3. Statistical Properties and Pre-Hit Dynamics of Price Limit Hits in the Chinese Stock Markets

    PubMed Central

    Wan, Yu-Lei; Xie, Wen-Jie; Gu, Gao-Feng; Jiang, Zhi-Qiang; Chen, Wei; Xiong, Xiong; Zhang, Wei; Zhou, Wei-Xing

    2015-01-01

    Price limit trading rules are adopted in some stock markets (especially emerging markets) trying to cool off traders’ short-term trading mania on individual stocks and increase market efficiency. Under such a microstructure, stocks may hit their up-limits and down-limits from time to time. However, the behaviors of price limit hits are not well studied partially due to the fact that main stock markets such as the US markets and most European markets do not set price limits. Here, we perform detailed analyses of the high-frequency data of all A-share common stocks traded on the Shanghai Stock Exchange and the Shenzhen Stock Exchange from 2000 to 2011 to investigate the statistical properties of price limit hits and the dynamical evolution of several important financial variables before stock price hits its limits. We compare the properties of up-limit hits and down-limit hits. We also divide the whole period into three bullish periods and three bearish periods to unveil possible differences during bullish and bearish market states. To uncover the impacts of stock capitalization on price limit hits, we partition all stocks into six portfolios according to their capitalizations on different trading days. We find that the price limit trading rule has a cooling-off effect (object to the magnet effect), indicating that the rule takes effect in the Chinese stock markets. We find that price continuation is much more likely to occur than price reversal on the next trading day after a limit-hitting day, especially for down-limit hits, which has potential practical values for market practitioners. PMID:25874716

  4. 76 FR 55440 - Self-Regulatory Organizations; C2 Options Exchange, Incorporated; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-09-07

    ... trading pauses in underlying stocks. The text of the proposed rule change is available on the Exchange's... stock trading pause pilot rule was developed in consultation with U.S. listing markets to provide for uniform market- wide trading pause standards for certain underlying individual stocks that...

  5. 76 FR 74097 - Self-Regulatory Organizations; C2 Options Exchange, Incorporated; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-11-30

    ... pauses in underlying stocks. The text of the proposed rule change is available on the Exchange's Web site... the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The individual stock... market- wide trading pause standards for certain underlying individual stocks that experience rapid...

  6. Scaling analysis of stock markets

    NASA Astrophysics Data System (ADS)

    Bu, Luping; Shang, Pengjian

    2014-06-01

    In this paper, we apply the detrended fluctuation analysis (DFA), local scaling detrended fluctuation analysis (LSDFA), and detrended cross-correlation analysis (DCCA) to investigate correlations of several stock markets. DFA method is for the detection of long-range correlations used in time series. LSDFA method is to show more local properties by using local scale exponents. DCCA method is a developed method to quantify the cross-correlation of two non-stationary time series. We report the results of auto-correlation and cross-correlation behaviors in three western countries and three Chinese stock markets in periods 2004-2006 (before the global financial crisis), 2007-2009 (during the global financial crisis), and 2010-2012 (after the global financial crisis) by using DFA, LSDFA, and DCCA method. The findings are that correlations of stocks are influenced by the economic systems of different countries and the financial crisis. The results indicate that there are stronger auto-correlations in Chinese stocks than western stocks in any period and stronger auto-correlations after the global financial crisis for every stock except Shen Cheng; The LSDFA shows more comprehensive and detailed features than traditional DFA method and the integration of China and the world in economy after the global financial crisis; When it turns to cross-correlations, it shows different properties for six stock markets, while for three Chinese stocks, it reaches the weakest cross-correlations during the global financial crisis.

  7. Capital Structure and Stock Returns

    ERIC Educational Resources Information Center

    Welch, Ivo

    2004-01-01

    U.S. corporations do not issue and repurchase debt and equity to counteract the mechanistic effects of stock returns on their debt-equity ratios. Thus over one- to five-year horizons, stock returns can explain about 40 percent of debt ratio dynamics. Although corporate net issuing activity is lively and although it can explain 60 percent of debt…

  8. [Use of elastic compression stockings].

    PubMed

    Kallestrup, Lisbeth; Søgaard, Tine; Schjødt, Inge; Grove, Erik Lerkevang

    2014-08-04

    Post-thrombotic syndrome (PTS) is caused by venous insufficiency and is a frequent complication of deep venous thrombosis. Patients with PTS have reduced quality of life and an increased risk of recurrent deep venous thrombosis. Importantly, the risk of PTS is halved by the use of elastic compression stockings. This review outlines important practical aspects related to correct clinical use of these stockings.

  9. 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.

  10. [Nursing manpower and solutions in Taiwan].

    PubMed

    Teng, Su-Wen

    2014-04-01

    The shortage of nursing manpower is a long-term problem worldwide that affects Taiwan despite this country's internationally admired achievements in terms of its healthcare and national health insurance systems. This article reviews discussions related to the nursing shortage issue published by the World Health Organization, International Council of Nurses, and Taiwan Ministry of Health and Welfare. Next, an overview is given of the nursing workforce profile, causal factors behind the nursing shortage, and demand for and supply of nursing manpower. Finally, problems, resolutions, and expected outcomes for the nursing shortage in Taiwan are analyzed.

  11. Distribution characteristics of stock market liquidity

    NASA Astrophysics Data System (ADS)

    Luo, Jiawen; Chen, Langnan; Liu, Hao

    2013-12-01

    We examine the distribution characteristics of stock market liquidity by employing the generalized additive models for location, scale and shape (GAMLSS) model and three-minute frequency data from Chinese stock markets. We find that the BCPE distribution within the GAMLSS framework fits the distributions of stock market liquidity well with the diagnosis test. We also find that the stock market index exhibits a significant impact on the distributions of stock market liquidity. The stock market liquidity usually exhibits a positive skewness, but a normal distribution at a low level of stock market index and a high-peak and fat-tail shape at a high level of stock market index.

  12. Social Presence for Different Tasks and Perceived Learning in Online Hospitality Culture Exchange

    ERIC Educational Resources Information Center

    Wang, Mei-jung; Chen, Hsueh Chu

    2013-01-01

    This study utilized online discussion and project construction tasks to determine the extent of social presence and collaborative learning for hospitality culture exchange. The online culture exchange lasted for 6 weeks from September to November 2011. Forty-four English majors from a hospitality college in Taiwan and an institute of education in…

  13. Metal stocks and sustainability

    PubMed Central

    Gordon, R. B.; Bertram, M.; Graedel, T. E.

    2006-01-01

    The relative proportions of metal residing in ore in the lithosphere, in use in products providing services, and in waste deposits measure our progress from exclusive use of virgin ore toward full dependence on sustained use of recycled metal. In the U.S. at present, the copper contents of these three repositories are roughly equivalent, but metal in service continues to increase. Providing today's developed-country level of services for copper worldwide (as well as for zinc and, perhaps, platinum) would appear to require conversion of essentially all of the ore in the lithosphere to stock-in-use plus near-complete recycling of the metals from that point forward. PMID:16432205

  14. Clustering of Casablanca stock market based on hurst exponent estimates

    NASA Astrophysics Data System (ADS)

    Lahmiri, Salim

    2016-08-01

    This paper deals with the problem of Casablanca Stock Exchange (CSE) topology modeling as a complex network during three different market regimes: general trend characterized by ups and downs, increasing trend, and decreasing trend. In particular, a set of seven different Hurst exponent estimates are used to characterize long-range dependence in each industrial sector generating process. They are employed in conjunction with hierarchical clustering approach to examine the co-movements of the Casablanca Stock Exchange industrial sectors. The purpose is to investigate whether cluster structures are similar across variable, increasing and decreasing regimes. It is observed that the general structure of the CSE topology has been considerably changed over 2009 (variable regime), 2010 (increasing regime), and 2011 (decreasing regime) time periods. The most important findings follow. First, in general a high value of Hurst exponent is associated to a variable regime and a small one to a decreasing regime. In addition, Hurst estimates during increasing regime are higher than those of a decreasing regime. Second, correlations between estimated Hurst exponent vectors of industrial sectors increase when Casablanca stock exchange follows an upward regime, whilst they decrease when the overall market follows a downward regime.

  15. Fisheries, management and conservation of the whale shark Rhincodon typus in Taiwan.

    PubMed

    Hsu, H H; Joung, S J; Liu, K M

    2012-04-01

    The Taiwanese government introduced a catch-and-report system for the whale shark Rhincodon typus in 2001, and in the following year limited the total allowable catch (TAC) to 80 individuals. This limit was reduced over the following years, reaching a low of 30 individuals in 2007. In November 2007, a comprehensive ban on R. typus fishing came into effect and protection measures were adopted for the species. This study measured and recorded the total length (L(T) ), body mass and sex of 810 R. typus, using fisheries and other released data for the period 1995-2008. The mean L(T) of individuals caught from June to October was smaller than that for individuals caught from November to May. Mean annual catches in set nets were higher in south-western Taiwan than in other regions of Taiwan. The sex ratio showed that males were caught more frequently than females in Taiwanese waters, indicating sex segregation. For the first time, the stock structure, conservation and management regulation of R. typus in the north-west Pacific Ocean have been reviewed. The results provide a useful resource for future assessment of the possible development of R. typus ecotourism in Taiwan.

  16. Investor Behavior and Flow-through Capability in the US Stock Market

    PubMed Central

    Cano, Carlos; Jareño, Francisco; Tolentino, Marta

    2016-01-01

    This paper analyzes investor behavior depending on the flow-through capability (FTC) in the US stock market, because investors seek protection from inflation rate changes, and the FTC (a firm's ability to transmit inflation shocks to the prices of its products and services) is a key factor in investment decisions. Our estimates of the FTC of firms listed on the US stock exchange at the sector level are significantly different among industries, and we demonstrate a direct relationship between changes in stock prices (at the sector level) and FTC. These results would be relevant because they have important implications on investor behavior. PMID:27242585

  17. Investor Behavior and Flow-through Capability in the US Stock Market.

    PubMed

    Cano, Carlos; Jareño, Francisco; Tolentino, Marta

    2016-01-01

    This paper analyzes investor behavior depending on the flow-through capability (FTC) in the US stock market, because investors seek protection from inflation rate changes, and the FTC (a firm's ability to transmit inflation shocks to the prices of its products and services) is a key factor in investment decisions. Our estimates of the FTC of firms listed on the US stock exchange at the sector level are significantly different among industries, and we demonstrate a direct relationship between changes in stock prices (at the sector level) and FTC. These results would be relevant because they have important implications on investor behavior.

  18. Deformation and seismicity of Taiwan.

    PubMed

    Vita-Finzi, C

    2000-10-10

    14C-dated Holocene coastal uplift, conventional and satellite geodetic measurements, and coseismic and aseismic fault slip reveal the pattern of distributed deformation at Taiwan resulting from convergence between the Philippine Sea plate and Eurasia; as in other subduction orogenic settings, the locus of strain release and accumulation is strongly influenced by changes in fault geometry across strike. Uplift evidence from the islands of Lutao and Lanhsu is consistent with progressive oblique collision between the Luzon arc and the Chinese continental margin. In the Coastal Range, geodetic and seismic records show that shortening is taken up serially by discontinuous slip on imbricate faults. The geodetic data point to net extension across the Central Range, but deformed Holocene shorelines in the Hengchun Peninsula at its southern extremity suggest that the extension is a superficial effect partly caused by blind reverse faulting. The fastest shortening rates indicated by geodesy are recorded on the Longitudinal Valley fault and across the Chukou fault within the fold-and-thrust belt. In the former, the strain is dissipated mainly as aseismic reverse and strike-slip displacement. In contrast, the fold-and-thrust belt has witnessed five earthquakes with magnitudes of 6.5 or above in the 20th century, including the 1999.9.21 Chi-Chi earthquake (magnitude approximately 7.6) on a branch of the Chukou fault. The neotectonic and geodetic data for Taiwan as a whole suggest that the fold-and-thrust belt will continue to host the majority of great earthquakes on the island.

  19. Women scientists in Taiwan: an update.

    PubMed

    Wang, Hsiu-Yun; Stocker, Joel Floyd

    2010-06-01

    This paper reflects upon issues of gender and science in Taiwan. Its starting point is the first academic paper on the subject published in Taiwan in 1996 by Fu and Wang, and then it draws upon the biographical accounts of 20 women scientists. We emphasize the importance of focusing on the specific contexts of the history of science and women in Taiwan. Partly as a result of Taiwan's colonial past and women's limited access to education, women scientists did not emerge in Taiwan until the second half of the 20(th) century when higher education became available to women. The gender issues with which women scientists in Taiwan have had to cope include the ways in which women have been excluded or included, their marital and career status, the local and global politics of scientific knowledge, and negotiating social networks. These issues have remained largely the same since the Fu and Wang study, but they have certainly gained wider attention and understanding, and greater articulation, both within academia and society.

  20. Early Austronesians: into and out of Taiwan.

    PubMed

    Ko, Albert Min-Shan; Chen, Chung-Yu; Fu, Qiaomei; Delfin, Frederick; Li, Mingkun; Chiu, Hung-Lin; Stoneking, Mark; Ko, Ying-Chin

    2014-03-06

    A Taiwan origin for the expansion of the Austronesian languages and their speakers is well supported by linguistic and archaeological evidence. However, human genetic evidence is more controversial. Until now, there had been no ancient skeletal evidence of a potential Austronesian-speaking ancestor prior to the Taiwan Neolithic ~6,000 years ago, and genetic studies have largely ignored the role of genetic diversity within Taiwan as well as the origins of Formosans. We address these issues via analysis of a complete mitochondrial DNA genome sequence of an ~8,000-year-old skeleton from Liang Island (located between China and Taiwan) and 550 mtDNA genome sequences from 8 aboriginal (highland) Formosan and 4 other Taiwanese groups. We show that the Liangdao Man mtDNA sequence is closest to Formosans, provides a link to southern China, and has the most ancestral haplogroup E sequence found among extant Austronesian speakers. Bayesian phylogenetic analysis allows us to reconstruct a history of early Austronesians arriving in Taiwan in the north ~6,000 years ago, spreading rapidly to the south, and leaving Taiwan ~4,000 years ago to spread throughout Island Southeast Asia, Madagascar, and Oceania.

  1. 12 CFR 1263.23 - Excess stock.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 12 Banks and Banking 9 2013-01-01 2013-01-01 false Excess stock. 1263.23 Section 1263.23 Banks and Banking FEDERAL HOUSING FINANCE AGENCY FEDERAL HOME LOAN BANKS MEMBERS OF THE BANKS Stock Requirements § 1263.23 Excess stock. (a) Sale of excess stock. Subject to the restriction in paragraph (b) of...

  2. 12 CFR 1263.23 - Excess stock.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 7 2011-01-01 2011-01-01 false Excess stock. 1263.23 Section 1263.23 Banks and Banking FEDERAL HOUSING FINANCE AGENCY FEDERAL HOME LOAN BANKS MEMBERS OF THE BANKS Stock Requirements § 1263.23 Excess stock. (a) Sale of excess stock. Subject to the restriction in paragraph (b) of...

  3. 12 CFR 725.5 - Capital stock.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 12 Banks and Banking 7 2012-01-01 2012-01-01 false Capital stock. 725.5 Section 725.5 Banks and... ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is divided... or hypothecated except to the Facility. (b) The capital stock subscriptions provided for in §§...

  4. 12 CFR 1263.23 - Excess stock.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 12 Banks and Banking 10 2014-01-01 2014-01-01 false Excess stock. 1263.23 Section 1263.23 Banks and Banking FEDERAL HOUSING FINANCE AGENCY FEDERAL HOME LOAN BANKS MEMBERS OF THE BANKS Stock Requirements § 1263.23 Excess stock. (a) Sale of excess stock. Subject to the restriction in paragraph (b)...

  5. 12 CFR 725.5 - Capital stock.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 12 Banks and Banking 7 2014-01-01 2014-01-01 false Capital stock. 725.5 Section 725.5 Banks and... ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is divided... or hypothecated except to the Facility. (b) The capital stock subscriptions provided for in §§...

  6. 12 CFR 725.5 - Capital stock.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 12 Banks and Banking 7 2013-01-01 2013-01-01 false Capital stock. 725.5 Section 725.5 Banks and... ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is divided... or hypothecated except to the Facility. (b) The capital stock subscriptions provided for in §§...

  7. 12 CFR 725.5 - Capital stock.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 6 2011-01-01 2011-01-01 false Capital stock. 725.5 Section 725.5 Banks and... ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is divided... or hypothecated except to the Facility. (b) The capital stock subscriptions provided for in §§...

  8. 12 CFR 1263.23 - Excess stock.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 12 Banks and Banking 9 2012-01-01 2012-01-01 false Excess stock. 1263.23 Section 1263.23 Banks and Banking FEDERAL HOUSING FINANCE AGENCY FEDERAL HOME LOAN BANKS MEMBERS OF THE BANKS Stock Requirements § 1263.23 Excess stock. (a) Sale of excess stock. Subject to the restriction in paragraph (b) of...

  9. Stock Market Index Computer Programs.

    ERIC Educational Resources Information Center

    Rowley, Eric

    1986-01-01

    Provides two computer programs, written in BASIC, to calculate average stock market price levels. The programs allow students to work directly from the raw price data that appear daily in the financial news. Teaching suggestions are provided. (JDH)

  10. Persistent collective trend in stock markets

    NASA Astrophysics Data System (ADS)

    Balogh, Emeric; Simonsen, Ingve; Nagy, Bálint Zs.; Néda, Zoltán

    2010-12-01

    Empirical evidence is given for a significant difference in the collective trend of the share prices during the stock index rising and falling periods. Data on the Dow Jones Industrial Average and its stock components are studied between 1991 and 2008. Pearson-type correlations are computed between the stocks and averaged over stock pairs and time. The results indicate a general trend: whenever the stock index is falling the stock prices are changing in a more correlated manner than in case the stock index is ascending. A thorough statistical analysis of the data shows that the observed difference is significant, suggesting a constant fear factor among stockholders.

  11. 12 CFR 221.121 - Extension of credit in certain stock option and stock purchase plans.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Extension of credit in certain stock option and... Extension of credit in certain stock option and stock purchase plans. Questions have been raised as to whether certain stock option and stock purchase plans involve extensions of credit subject to this...

  12. Public Health Responses to Reemergence of Animal Rabies, Taiwan, July 16–December 28, 2013

    PubMed Central

    Huang, Angela Song-En; Chen, Wan-Chin; Huang, Wan-Ting; Huang, Shih-Tse; Lo, Yi-Chun; Wei, Sung-Hsi; Kuo, Hung-Wei; Chan, Pei-Chun; Hung, Min-Nan; Liu, Yu-Lun; Mu, Jung-Jung; Yang, Jyh-Yuan; Liu, Ding-Ping; Chou, Jih-Haw; Chuang, Jen-Hsiang; Chang, Feng-Yee

    2015-01-01

    Taiwan had been free of indigenous human and animal rabies case since canine rabies was eliminated in 1961. In July 2013, rabies was confirmed among three wild ferret-badgers, prompting public health response to prevent human rabies cases. This descriptive study reports the immediate response to the reemergence of rabies in Taiwan. Response included enhanced surveillance for human rabies cases by testing stored cerebrospinal fluids (CSF) from patients with encephalitides of unknown cause by RT-PCR, prioritizing vaccine use for postexposure prophylaxis (PEP) during periods of vaccine shortage and subsequent expansion of PEP, surveillance of animal bites using information obtained from vaccine application, roll out of preexposure prophylaxis (PrEP) with vaccine stock restoration, surveillance for adverse events following immunization (AEFI), and ensuring surge capacity to respond to general public inquiries by phone and training for healthcare professionals. Enhanced surveillance for human rabies found no cases after testing 205 stored CSF specimens collected during January 2010–July 2013. During July 16 to December 28, 2013, we received 8,241 rabies PEP application; 6,634 (80.5%) were consistent with recommendations. Among the 6,501persons who received at least one dose of rabies vaccine postexposure, 4,953 (76.2%) persons who were bitten by dogs; only 59 (0.9%) persons were bitten by ferret-badgers. During the study period, 6,247 persons received preexposure prophylaxis. There were 23 reports of AEFI; but no anaphylaxis, Guillain-Barré syndrome, or acute disseminated encephalomyelitis were found. During the study period, there were 40,312 calls to the Taiwan Centers for Disease Control hotline, of which, 8,692 (22%) were related to rabies. Recent identification of rabies among ferret-badgers in a previously rabies-free country prompted rapid response. To date, no human rabies has been identified. Continued multifaceted surveillance and interministerial

  13. 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.

  14. Cross-sectional test of the Fama-French three-factor model: Evidence from Bangladesh stock market

    NASA Astrophysics Data System (ADS)

    Hasan, Md. Zobaer; Kamil, Anton Abdulbasah

    2014-09-01

    Stock market is an important part of a country's economy. It supports the country's economic development and progress by encouraging the efficiency and profitability of firms. This research was designed to examine the risk-return association of companies in the Dhaka Stock Exchange (DSE) market of Bangladesh by using the Fama-French three-factor model structure. The model is based on three factors, which are stock beta, SMB (difference in returns of the portfolio with small market capitalisation minus that with big market capitalisation) and HML (difference in returns of the portfolio with high book-to-market ratio minus that with low book-to-market ratio). This study focused on the DSE market as it is one of the frontier emerging stock markets of South Asia. For this study, monthly stock returns from 71 non-financial companies were used for the period of January 2002 to December 2011. DSI Index was used as a proxy for the market portfolio and Bangladesh government 3-Month T-bill rate was used as the proxy for the risk-free asset. It was found that large capital stocks outperform small capital stocks and stocks with lower book-to-market ratios outperform stocks with higher book-to-market ratios in the context of Bangladesh stock market.

  15. [Modern approaches to the formation of antidote stocks at medical institutions in Russia and foreign countries].

    PubMed

    Simonenko, V E; Sarmanaev, S Kh; Kovalev, E V; Sarmanaeva, R R; Kukhanov, A V

    2014-11-01

    This article analyses the approaches to the formation of specific treatment of acute poisoning in the various countries. The authors present a systematic review of scientific publications about the formation of reserves of antidote agents at medical institutions of the Russian Federation, the US, Canada, France, Spain, Greece, Norway, Czech Republic, Taiwan and Poland. A search for a variety of databases, as well as by reviewing reference lists of publications on the subject of "stockpiling antidote means". It is concluded that the antidote provision at health care institutions in different countries is insufficient. State of affairs with the formation of antidote stocks is better at hospitals of Czech Republic, France and Spain. To determine the range and volume of the stock of fixed assets necessary antidote coordination and approval of the list and the number of mandatory for every medical institution antidotes.

  16. Underestimation of boreal soil carbon stocks by mathematical soil carbon models linked to soil nutrient status

    NASA Astrophysics Data System (ADS)

    Ťupek, Boris; Ortiz, Carina A.; Hashimoto, Shoji; Stendahl, Johan; Dahlgren, Jonas; Karltun, Erik; Lehtonen, Aleksi

    2016-08-01

    Inaccurate estimate of the largest terrestrial carbon pool, soil organic carbon (SOC) stock, is the major source of uncertainty in simulating feedback of climate warming on ecosystem-atmosphere carbon dioxide exchange by process-based ecosystem and soil carbon models. Although the models need to simplify complex environmental processes of soil carbon sequestration, in a large mosaic of environments a missing key driver could lead to a modeling bias in predictions of SOC stock change.We aimed to evaluate SOC stock estimates of process-based models (Yasso07, Q, and CENTURY soil sub-model v4) against a massive Swedish forest soil inventory data set (3230 samples) organized by a recursive partitioning method into distinct soil groups with underlying SOC stock development linked to physicochemical conditions.For two-thirds of measurements all models predicted accurate SOC stock levels regardless of the detail of input data, e.g., whether they ignored or included soil properties. However, in fertile sites with high N deposition, high cation exchange capacity, or moderately increased soil water content, Yasso07 and Q models underestimated SOC stocks. In comparison to Yasso07 and Q, accounting for the site-specific soil characteristics (e. g. clay content and topsoil mineral N) by CENTURY improved SOC stock estimates for sites with high clay content, but not for sites with high N deposition.Our analysis suggested that the soils with poorly predicted SOC stocks, as characterized by the high nutrient status and well-sorted parent material, indeed have had other predominant drivers of SOC stabilization lacking in the models, presumably the mycorrhizal organic uptake and organo-mineral stabilization processes. Our results imply that the role of soil nutrient status as regulator of organic matter mineralization has to be re-evaluated, since correct SOC stocks are decisive for predicting future SOC change and soil CO2 efflux.

  17. 76 FR 57781 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-09-16

    ... Global Select Markets September 12, 2011. Pursuant to Section 19(b)(1) of the Securities Exchange Act of... listing on the Global and Global Select Markets in connection with an initial public offering, upon... from the New York Stock Exchange (NYSE) to the Global or Global Select Markets (``Eligible...

  18. 75 FR 78302 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-12-15

    ... Contained in the Standard & Poor's 500 Index, Russell 1000 Index, and Specified Exchange Traded Products... individual stocks contained in the Standard & Poor's 500 Index, Russell 1000 Index, and specified Exchange... securities in the Standard & Poor's 500 Index, the Russell 1000 Index, as well as a pilot list of...

  19. 77 FR 47455 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-08

    ... change is available on the Exchange's Web site at http://www.nasdaq.cchwallstreet.com , at the principal... Understandings with various stock exchanges. Given the capitalization of these indexes and the deep and liquid... deep and liquid markets for the securities underlying both the MSCI EM Index and the MSCI EAFE...

  20. 75 FR 58456 - Self-Regulatory Organizations; Notice of Filing of Proposed Rule Change by New York Stock...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-09-24

    ... From the Federal Register Online via the Government Publishing Office SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; Notice of Filing of Proposed Rule Change by New York Stock Exchange LLC Relating to Execution Algorithm of NYBX Orders September 20, 2010. Pursuant to Section 19(b)(1)...