
;5&
5HY
3OHDVH QRWH WKDW
7DEOH
IROORZLQJ SDUDPHWHUV
FDOOV IRU WKH XVHU WR VSHFLI\ WKH
-
$&5>@ WKH PRVW VLJQLILFDQW ELW 06% RI WKH $X[LO
LDU\ &RQWURO 5HJLVWHU
-
; 7KH ([WHQG ELW
$&5>@ LV WKH 06% RI WKH DX[LOLDU\ FRQWURO UHJLVWHU DQG
FDQ HDVLO\ EH SURJUDPPHG E\ ZULWLQJ [[[[[[[E RU
[[[[[[[E WR WKH $&5 LQ RUGHU WR VHW RU FOHDU
UHVSHFWLYHO\
1RWH
WKH E VXIIL[ GHQRWHV D ELQDU\ H[SUHVVLRQ [ GRQ·W FDUH
YDOXH
; 7KH 6HOHFW ([WHQG ELW
(DFK WUDQVPLWWHU DQG UHFHLYHUZLWKLQ WKH '8$57 KDV DQ
H[WHQG ELW WKDW FDQ EH VHW RU FOHDUHG E\ ZULWLQJ WKH
DSSURSULDWH GDWD WR WKH FKDQQHO·V FRPPDQG UHJLVWHU
$OWKRXJK WKLV LQIRUPDWLRQ FDQ EH IRXQG LQ
7DEOH
7DEOH
VXPPDUL]HV WKHVH FRPPDQGV DQG WKHLU HIIHFW
RQ WKH H[WHQG ELWV
5HJLVWHU
&RQWHQWV
5HVXOWLQJ $FWLRQ
&RPPDQG 5HJLVWHU $ &5$
6HW 5[ %5* 6HOHFW ([WHQG %LW ;
&RPPDQG 5HJLVWHU $ &5$
&OHDU 5[ %5* 6HOHFW ([WHQG %LW ;
&RPPDQG 5HJLVWHU % &5%
$
6HW 7[ %5* 6HOHFW ([WHQG %LW ;
&RPPDQG 5HJLVWHU % &5%
%
&OHDU 7[ %5* 6HOHFW ([WHQG %LW ;
7DEOH &RPPDQG 5HJLVWHU &RQWURO 2YHU WKH ([WHQG %LW
1RWH
LI W
KH XVHU SURJUDPV HLWKHU QLEEOH RI WKH &ORFN
6HOHFW 5HJLVWHU &65Q>@ RU &65Q>@ ZLWK YDOXHV
UDQJLQJIURP
WR&
WKHQWKHXVHULVXVLQJWKH%5*DV
D VRXUFH IRU WLPLQJ +RZHYHU WKHVH VWDQGDUG ELW UDWHV
SUHVHQWHG LQ 7DEOH DSSO\ RQO\ LI WKH ;&/. SLQ LV
GULYHQZLWKD 0+]VLJQDO ,IDVLJQDOZLWKDGLIIHUHQW
IUHTXHQF\ IR LV DSSOLHG WR WKH ;&/. SLQ WKHQ WKH
'8$57 FKDQQHO LV UXQQLQJ DW WKH IROORZLQJ EDXG UDWH
$FWXDO %DXG 5DWH
>
7DEOH
%DXG 5DWH 9DOXH
@
IR
0+]
SURYLGHG WKDW IR LV EHWZHHQ 0+] DQG 0+]
$GGLWLRQDOO\ DV LQ WKH FDVH IRU VWDQGDUG EDXG UDWHV WKH
DFWXDOIUHTXHQF\ RIWKH FORFN VLJQDOZLOO EH WLPHV WKHVH
YDOXHV
; YV ; &ORFN 6LJQDOV
7KHWHUPV′; &ORFNμ DQG′;&ORFNμ KDYHEHHQDSSOLHG
WKURXJKRXW WKLV WH[W 7KHUHIRUH LW LV LPSRUWDQW WR GLVFXVV
WKHLU PHDQLQJ DQG VLJQLILFDQFH
RYHUVDPSOHV WKH UHFHLYHG VHULDO GDWD E\ D IDFWRU RI
$ ′; &ORFNμ
:KHUHDV D ′; &ORFNμ RQO\ VDPSOHV WKH VLJQDOV RQFH SHU
ELW SHULRG )URP WKLV RQH VKRXOG FRUUHFWO\ FRQFOXGH WKDW
JUHDWHU DFFXUDF\ ORZHU ELW HUURU UDWHV DUH DFKLHYHG YLD
WKH XVH RI WKH ; FORFN LQ OLHX RI WKH ; FORFN 7KH
IROORZLQJ SDUDJUDSKV ZLOO FODULI\ WKH UHDVRQV
$ UHFHLYHU LQ RQH RI WKH '8$57 FKDQQHOV LV FORFNHG E\ D
ORFDO WLPLQJ VRXUFH IURP WKH WLPLQJ FRQWURO EORFN ,I WKLV
UHFHLYHU LV DFWLYH DQG LV UHFHLYLQJ GDWD IURP D UHPRWH
VHULDO WUDQVPLWWHU WKDW WUDQVPLWWHU LV DOVR FORFNHG E\ LWV
RZQ ORFDO WLPLQJ VRXUFH +HQFH WKHUH LV QR JXDUDQWHH
WKDW WKH FORFN IUHTXHQF\ IRU WKH UHFHLYHU LV H[DFWO\ WKH
VDPH DV WKDW IRU WKH UHPRWH WUDQVPLWWHU
FKDUDFWHULVWLF
RI
DV\QFKURQRXV
FRPPXQLFDWLRQ
$OWKRXJK WKH UHFHLYHU DQG UHPRWH
WUDQVPLWWHU KDYH EHHQ SURJUDPPHG WR UHFHLYH DQG
WUDQVPLW GDWD DW H[DFWO\ WKH VDPH EDXG UDWH VXIILFLHQW
GLIIHUHQFHV LQ WKH IUHTXHQFLHV RI WKH WZR FORFN VRXUFHV
ORFDO UHFHLYHU DQG UHPRWH WUDQVPLWWHU FDQ FRQWULEXWH WR
ELW HUURUV LQ WKH UHFHLYLQJ SURFHVV DV SUHVHQWHG LQ WKH
IROORZLQJ GLVFXVVLRQ
7KLV LV D
VHULDO
GDWD
6XSSRVH WKDW ZH KDYH D VHULDO GDWD WUDQVPLVVLRQ V\VWHP
DVGHSLFWHGLQ
)LJXUH
7KLVV\VWHPFRQVLVWVRIDUHPRWH
WUDQVPLWWHU 7
;
DQG D ORFDO UHFHLYHU 5
;