Learn about derivatives with iMinds Money's insightful fast-knowledge series. In economics, a derivative is defined as a financial instrument or an “agreement” between two parties that is based on an “underlying” and generally tangible asset, such as a stock or a commodity. For example, during the process of purchase there is a financial exchange for what is essentially a material benefit or instrument. Therefore, a derivative merely “derives” its value from this underlying asset which is of true material value. Financial investors use derivatives as a means of leverage in what is known as the derivative market. An example of a common form of derivative is that of a customer who walks into a store and purchases a cigar in exchange for money. In this case, the exchange is complete and both parties hold tangible items. However, if the customer had phoned the dealer in advance, requesting the cigar be held for two hours until he/ she arrived and the retailer agrees, then a derivative is created. The agreement is simply derived from a proposed exchange, that they will trade money for cigar in two hours, not now. iMinds will hone your financial knowledge with its insightful series looking at topics related to Money, Investment and Finance... whether an amateur or specialist in the field, iMinds targeted fast knowledge series will whet your mental appetite and broaden your mind.iMinds unique fast-learning modules as seen in the Financial Times, Wired, Vogue, Robb Report, Sky News, LA Times, Mashable and many others... the future of general knowledge acquisition. 1. Language: English. Narrator: Emily Sophie Knapp. Audio sample: http://samples.audible.de/bk/imnd/000202/bk_imnd_000202_sample.mp3. Digital audiobook in aax.
Learn about Reverse Swaps with iMinds Money's insightful fast knowledge series. A reverse swap is a secondary swap agreement entered into by a party to an existing swap contract. The secondary swap will offset, or reverse, the position held in the original agreement. In other words, it is a new swap with the exact opposite terms to a pre-existing swap contract is made. A reverse swap can therefore simply be thought of as the undoing, without the cancellation, of a previous swap agreement. However, the reverse swap need not be executed with the same counter-party to the original as it is a completely new contract and thereby allows one party to pull out from a swap at no extra cost, even if the counter-party intends to keep their investment position. The reason for and method of executing a reverse swap will depend on the nature of the original agreement. Swaps are a type of derivative that, as the name suggests, involves the trading of financial benefits between two counter-parties. These benefits depend on the underlying asset in the swap agreement. Most commonly bond repayments are used, though equity and commodities based swaps are also actively traded. Note that the underlying assets themselves are not exchanged, simply the rights to the benefits derived from the asset. For example, these may be repayments on a bond or dividends from stock. Swap contracts can be made for any of a number of reasons: to hedge against changes in interest rates, commodity values, foreign exchange, or some other uncertainty; to conversely speculate for capital gain; or to receive benefits from otherwise inaccessible assets. 1. Language: English. Narrator: Emily Sophie Knapp. Audio sample: http://samples.audible.de/bk/imnd/000223/bk_imnd_000223_sample.mp3. Digital audiobook in aax.
Oxidation phenomena on metal surfaces represent a vast field of basic scientific interest and play a key role in many technological and environmental processes, such as in electronic devices and mechanical tools, in heterogeneous catalysis, in corrosion, and in bioactivity. In the latter case, a precise knowledge of the oxidation process and of the chemical and physical properties of the passivating oxide layers is required in order to cope with complex key processes as corrosive attack, ion leaching, and protein adsorption on implant surfaces.This thesis deals with two types of biocompatible materials: titanium nitride (TiN) crystals and cobaltlchromium (CoCr) alloys. TiN and CoCr are known to oxidize with formation of a stable, ultrathin, passivating oxide film acting as a protective layer against further oxidation and corrosion. This work presents a detailed atomistic study of the oxidation mechanisms on the CoCr(OOOl) and the TiN(llO) surfaces, studied by means of first-principles modeling based on density-functional theory (DFf) and Car-Parrinello molecular dynamics (MD). Before considering the oxidation process of a CoCr alloy, a preliminar study of the composition of the alloy surfaces and the interaction among the constituents is indispensable. For this purpose, phenomena such as the oxidation mechanisms of the separate elements, as weIl as surface segregation processes and selective oxidation in the alloy have been analyzed in detail. MD simulations revealed that pure cobalt and pure chromium oxidize according to very different mechanisms, in good agreement with the available experimental data. Oxide nucleation on cobalt occurs via an early place-exchange of metal and oxygen atoms and the growth of an open, pseudo-amorphous oxide structure with evident C0304-like features. Instead, in the case of chromium, perfect oxygen ad-layers tend to form, followed by a layerby-layer growth, which is limited by Cr ion diffusion already in these initial oxidation stages. Notably, the initial formation of chromate-like structures, containing over-oxidized Cr atoms, seems to be precursory for subsequent growth of Cr203 thin films. Despite the higher oxygen affinity of chromium, the oxidation of CoCr proceeds with the initial formation of a cobalt oxide network which facilitates the incorporation of Cr ions into the oxide layer at an earlier stage than on pure chromium. This suggests that the further development of chromium oxides in CoCr, as observed experimentally, may occur via a different mechanism than in the case of pure chromium, with the Co matrix actively promoting the formation of stable amorphous layers.
The diplomatic relations between United States of America and Germany go back more than two hundred years, when the then Kingdom of Prussia and United States of America came to an agreement over trade and peace on September 18th, 1785. Subsequently, after the formation of unified German empire in 1871, the two nations have had a mixed relationship, being on opposite sides in both world wars but maintaining trade and exchange of knowledge, technology, students and goodwill before and after the world wars. In recent history, after the reunification of Germany in 1990, United States of America has been one of the closest ally of Germany. However, this transatlantic relationship threatened to change after Donald Trump announced his candidancy for 2016 US presidential elections. The full exchange of his statements with German chancellor Angela Merkel will be presented later in this chapter, but as early as October 2015, Donald Trump had started attacking German leader. His full quote of "I always thought Merkel was this great leader. What she's done in Germany is insane" was followed by comparing German chancellor to his opponent Hillary Clinton.
High Quality Content by WIKIPEDIA articles! In cryptography, a password-authenticated key agreement method is an interactive method for two or more parties to establish cryptographic keys based on one or more party's knowledge of a password. Password authenticated key exchange (PAKE) is where two or more parties, based only on their knowledge of a password, establish a cryptographic key using an exchange of messages, such that an unauthorized party (one who controls the communication channel but does not possess the password) cannot participate in the method and is constrained as much as possible from guessing the password. (The optimal case yields exactly one guess per run exchange.) Two forms of PAKE are Balanced and Augmented methods.
Firms do not patent every invention. In many cases they rather rely on trade secrecyorothernon-legalmeanstoprotecttheirintellectualproperty,i. e. the returns on their investments in research and development (R&D). A patent confers to its ownerthe exclusiverights to prevent third parties frommaking, using, o?ering for sale, selling, or importing for these purposes the patent protected product (Art. 28, Agreement on Trade-Related Aspects of Int- lectual Property Rights (TRIPs)). In exchange for the temporary monopoly which is securedby this protection,the patentee has todisclose the invention in a manner su?ciently clear and complete for it to be carried out by a p- son skilled in the art (Art. 83, European Patent Convention (EPC)). Thus every patent has the drawbackof a possible loss of a technologicalleadership caused by the mandatory disclosure of formerly proprietary knowledge. The patentee has to fear that this transfer of enabling knowledge included in the patent description may bene?t his rivals by facilitating their rapid catch-up. The relevance and actual enforcement of the disclosurerequirement is und- lined by the European Commission s Green Paper on Innovation (European Commission (1996)). In the so-called Route of Action 8 on the promotion of intellectual and industrial property it is stated that a desirable action should be the promotion of patent information services as a method of technology watch based, in particular, on the information system set up by the European Patent O?ce (European Commission (1996), p. 42).
Until a few years ago I concentrated my attention on workers' compensa tion programs in the United States and Canada. Because the United States has 52 programs and Canada has eight, I was exposed to a diversity of approaches that caused me to believe that few other approaches existed. Since 1984 I have become more aware of what the rest of the world has been doing and discovered that my knowledge needed to be broadened significantly. The trigger action was a 1984 faculty research exchange agreement between Keio University in Tokyo and the University of Minnesota that made it possible for me to spend much of my time studying Japan's workers' compensation program and comparing it with the United States approaches. Japan's program had several features that I had not encountered in the United States or Canada. After this experience I attached considerably more value to and spent more time studying the Social Security Administration's biennial reports on Social Security Pro grams Throughout The World, which include workers' compensation programs. I also presented papers at two meetings of the International Insurance Society based on my Japanese and Social Security Adminis tration report research. Many participants urged further study in this area and offered to send me materials describing their nations' programs. The result is this study which I hope that readers will find interesting and worthwhile.
Using theory and practice to explore partnerships between professionals and families, Family Learning to Inclusion in the Early Years adds to current expertise through deeper insight into the complexities of inclusion within a specific context of family learning. The book presents inclusive practice which reflects the individuality of each child. Application of a therapeutic approach to promote, or to minimise, behaviour through self-regulation is demonstrated to the reader by illustrative examples. Hazel G. Whitters emphasises the value of supporting every child at the very beginning of a lifelong learning journey by activating the vocational skills of the early years' workforce. Beginning with a discussion of the concept of family in the 21st century, descriptive scenarios help readers to link theory to the reality of daily practice in a clear and useful way. The book presents a generational cycle of development through a theoretical and practical perspective, and explains how practice can contribute to closing the implementation gap within a context of family learning and inclusion in the early years. It encourages exchange of knowledge and understanding on issues, prompting readers' reflection, re-configuration, discussion, dissent, argument, or agreement. An essential read for any in the field of inclusive lifelong learning, this book will be of interest to academics, post-graduate students, and researchers in the field of early years' education, as well as those working within services.
Sales negotiation is eternally and constructively tied to consultative selling. So, we must always be very mindful of the power and strength of long-term, trusted, businesses relationships. Armor-piercing questions in their various forms must not be seen as anything other than a positive risk tool used to clarify our bargaining position and that of our negotiation partner. Our personal brand and bargaining table image is nothing more than our personal set of perfectly repeatable promises at work. How we frame negotiations. How we prepare negotiations. How we conduct and manage stratagems. After reading Unlocking Yes you will understand, sales negotiation is a craft comprised of philosophy, theory, and art. Sales negotiation on the ground and at the bargaining table is a game of elasticity. It is a plethora of plans and back-up plans (BATNA)* that lead you into a profitable bargaining continuum. Preparation cannot be understated. To be a truly great sales negotiator, you must be able to digest all known facts about any negotiation well enough to un-script in the heat of a bargaining exchange to elevate your cause and claim greater value. Your knowledge of strategy and your ability to shift strategy in the blink of an eye makes you a force to be reckoned with. Remember, the world of sales negotiation is a fluid environment. You must continue to add new tools to your negotiation repertoire. Read, practice, and implement bravely. Be creative. Offer great value. Make friends. Be true to yourself. *Best Alternative to a Negotiated Agreement