Open outcry and electronic trading in futures exchanges

Despite the efficiency gains that accompany automation, most large futures exchanges have been reluctant to move away from the traditional trading floor, citing early evidence that open outcry exchanges were more liquid than electronic exchanges. More recent studies, however, suggest that electronic trading is superior to open outcry in many respects, including liquidity. In this article, the author compares the twotrading systems. Although many exchanges are shifting towards electronic trading, there are still several obstacles to this transition. But as technology rapidly reduces the cost of automation and increases the demand for global 24-hour trading, a worldwide transition to electronic order-matching will likely be the next important milestone for futures exchanges. Less-automated exchanges (including the Canadian futures exchanges) will undoubtedly continue to study and promote automation in order to keep pace with technological innovations.

Enhancing protection of vehicle drivers and road safety by deploying ADAS and Facial Features Pattern Analysis (FFPA) technologies

The latest technology associated with Intelligent Transportation Systems (ITS) have been designed with the aim to minimize the numbers of person injury in road accidents and improve the overall road safety. The driver behavior is one major concern in many accidents in HK urban road links. In particular, the driver\u27s attitudes, such as fatigue, drowsiness and concentration are the major causes to road accidents. It will affect the driver\u27s ability and decisions in properly controlling their vehicles. Very often, this kind of driver distraction is particularly obvious when driving after 2 to 3 hours from most research sources. In the traffic data sourced from Transport Department of HKSAR, around 82% of the personal injury in road accidents belongs to the driver\u27s fault. This paper used the latest technology and applied it to a group of transport vehicles, i.e. taxi. The objective is set up to monitor, record and analyze the fatigue and drowsiness situation of drivers by means of advanced AI system, facial recognition detection system (the sensors) and early warning devices (LDWS) via ADAS technology. The result will be used to give real time early warning and subsequent analysis for the transport operators or researchers for better and safer management of their transport fleets. The system aimed to have a good precaution and protection on all road users, including drivers, passengers and pedestrians. In turn, it largely saves our community resources, such as the medical and social services consumed on treating the injured persons

Strong cardiovascular prognostic implication of quantitative left atrial contractile function assessed by cardiac magnetic resonance imaging in patients with chronic hypertension

<p>Abstract</p> <p>Background</p> <p>Progressive left ventricular (LV) diastolic dysfunction due to hypertension (HTN) alters left atrial (LA) contractile function in a predictable manner. While increased LA size is a marker of LV diastolic dysfunction and has been shown to be predictive of adverse cardiovascular outcomes, the prognostic significance of altered LA contractile function is unknown.</p> <p>Methods</p> <p>A consecutive group of patients with chronic hypertension but without significant valvular disease or prior MI underwent clinically-indicated CMR for assessment of left ventricular (LV) function, myocardial ischemia, or viability. Calculation of LA volumes used in determining LA emptying functions was performed using the biplane area-length method.</p> <p>Results</p> <p>Two-hundred and ten patients were included in this study. During a median follow-up of 19 months, 48 patients experienced major adverse cardiac events (MACE), including 24 deaths. Decreased LA contractile function (LAEF_Contractile) demonstrated strong unadjusted associations with patient mortality, non-fatal events, and all MACE. For every 10% reduction of LAEF_Contractile, unadjusted hazards to MACE, all-cause mortality, and non-fatal events increased by 1.8, 1.5, and 1.4-folds, respectively. In addition, preservation of the proportional contribution from LA contraction to total diastolic filling (Contractile/Total ratio) was strongly associated with lower MACE and patient mortality. By multivariable analyses, LAEF_Contractilewas the strongest predictor in each of the best overall models of MACE, all-cause mortality, and non-fatal events. Even after adjustment for age, gender, left atrial volume, and LVEF, LAEF_Contractilemaintained strong independent associations with MACE (p < 0.0004), all-cause mortality (p < 0.0004), and non-fatal events (p < 0.0004).</p> <p>Conclusions</p> <p>In hypertensive patients at risk for left ventricular diastolic dysfunction, a decreased contribution of LA contractile function to ventricular filling during diastole is strongly predictive of adverse cardiac events and death.</p

Biasable, Balanced, Fundamental Submillimeter Monolithic Membrane Mixer

This device is a biasable, submillimeter-wave, balanced mixer fabricated using JPL s monolithic membrane process a simplified version of planar membrane technology. The primary target application is instrumentation used for analysis of atmospheric constituents, pressure, temperature, winds, and other physical and chemical properties of the atmospheres of planets and comets. Other applications include high-sensitivity gas detection and analysis. This innovation uses a balanced configuration of two diodes allowing the radio frequency (RF) signal and local oscillator (LO) inputs to be separated. This removes the need for external diplexers that are inherently narrowband, bulky, and require mechanical tuning to change frequency. Additionally, this mixer uses DC bias-ability to improve its performance and versatility. In order to solve problems relating to circuit size, the GaAs membrane process was created. As much of the circuitry as possible is fabricated on-chip, making the circuit monolithic. The remainder of the circuitry is precision-machined into a waveguide block that holds the GaAs circuit. The most critical alignments are performed using micron-scale semiconductor technology, enabling wide bandwidth and high operating frequencies. The balanced mixer gets superior performance with less than 2 mW of LO power. This can be provided by a simple two-stage multiplier chain following an amplifier at around 90 GHz. Further, the diodes are arranged so that they can be biased. Biasing pushes the diodes closer to their switching voltage, so that less LO power is required to switch the diodes on and off. In the photo, the diodes are at the right end of the circuit. The LO comes from the waveguide at the right into a reduced-height section containing the diodes. Because the diodes are in series to the LO signal, they are both turned on and off simultaneously once per LO cycle. Conversely, the RF signal is picked up from the RF waveguide by the probe at the left, and flows rightward to the diodes. Because the RF is in a quasi- TEM (suspended, microstrip-like) mode, it impinges on the diodes in an anti-parallel mode that does not couple to the waveguide mode. This isolates the LO and RF signals. This operation is similar to a cross-bar mixer used at low frequencies, except the RF signal enters through the back-short end of the waveguide rather than through the side. The RF probe also conveys the down-converted intermediate frequency (IF) signal out to an off-chip circuit board through a simple LC low-pass filter to the left as indicated. The bias is brought to the diodes through a bypass capacitor at the top

Index Patient and SARS Outbreak in Hong Kong

During the global outbreak of severe acute respiratory syndrome (SARS) in 2003, treatment was empiric. We report the case history of the index patient in a hospital outbreak of SARS in Hong Kong. The patient recovered after conventional antimicrobial therapy. Further studies are needed to address treatment of SARS, which has high attack and death rates

Parameterized tests of the strong-field dynamics of general relativity using gravitational wave signals from coalescing binary black holes: Fast likelihood calculations and sensitivity of the method

Thanks to the recent discoveries of gravitational wave signals from binary black hole mergers by Advanced Laser Interferometer Gravitational Wave Observatory and Advanced Virgo, the genuinely strong-field dynamics of spacetime can now be probed, allowing for stringent tests of general relativity (GR). One set of tests consists of allowing for parametrized deformations away from GR in the template waveform models and then constraining the size of the deviations, as was done for the detected signals in previous work. In this paper, we construct reduced-order quadratures so as to speed up likelihood calculations for parameter estimation on future events. Next, we explicitly demonstrate the robustness of the parametrized tests by showing that they will correctly indicate consistency with GR if the theory is valid. We also check to what extent deviations from GR can be constrained as information from an increasing number of detections is combined. Finally, we evaluate the sensitivity of the method to possible violations of GR.Comment: 19 pages, many figures. Matches PRD versio

Biasable Subharmonic Membrane Mixer for 520 to 600 GHz

The figure shows a biasable subharmonic mixer designed to operate in the frequency range from 520 to 600 GHz. This mixer is a prototype of low-power mixers needed for development of wideband, high-resolution spectrometers for measuring spectra of molecules in the atmospheres of Earth, other planets, and comets in the frequency range of 400 to 700 GHz. Three considerations dictated the main features of the design: It is highly desirable to operate the spectrometers at or slightly below room temperature. This consideration is addressed by choosing Schottky diodes as the frequency-mixing circuit elements because of all mixer diodes, Schottky diodes are the best candidates for affording sufficient sensitivity at or slightly below room-temperature range. The short wavelengths in the intended operating-frequency range translate to stringent requirements for precision of fabrication and assembly of the circuits; these requirements are even more stringent for wide-bandwidth circuits. This consideration is addressed in two ways: (1) As much as possible of the mixer circuitry is fabricated in the form of a monolithic integrated circuit on a GaAs membrane, employing a modified version of a process used previously to fabricate a non-subharmonic mixer for a frequency of 2.5 THz and frequency multipliers for frequencies up to 2 THz. (2) The remainder of the circuitry is precision machined into a waveguide block that holds the GaAs integrated circuit

Pertactin-negative Bordetella pertussis strains in Canada: characterization of a dozen isolates based on a survey of 224 samples collected in different parts of the country over the last 20 years

SummaryObjectiveTo detect and characterize pertactin-negative Bordetella pertussis in Canada, especially for isolates collected in recent years.MethodsA total of 224 isolates from the years 1994–2013 were screened by Western immuno-blot for expression of pertactin. Pertactin-negative isolates were characterized by serotyping, pulsed-field gel electrophoresis (PFGE), and genotyping of their pertactin, fimbriae 3, pertussis toxin subunit 1, and pertussis toxin gene promoter region, as well as the complete sequence of the pertactin gene.ResultsTwelve isolates were pertactin-negative, giving an overall prevalence of 5.4%. However, no such isolate was found prior to 2011 and 17.8% of 62 isolates examined in 2012 were pertactin-negative. Ten pertactin-negative isolates contained a significant mutation in their pertactin (prn) genes. IS481 was found in the prn genes of eight isolates, while a single point mutation occurred either in the coding region (resulting in a premature stop codon) or in the promoter region (preventing gene transcription) in two other isolates. PFGE analysis also showed multiple profiles suggesting that several independent genetic events might have led to the emergence of these pertactin-negative strains rather than expansion of a single clone.ConclusionsAs reported elsewhere, pertactin-negative B. pertussis has emerged in Canada in recent years, notably in 2012. This coincided with an increase in pertussis activity in Canada. A further systematic study with a larger geographical representative sample is required to determine how these vaccine-negative strains may contribute to the overall changing epidemiology of pertussis in Canada