The Invisible Power of MacHines Revisiting the Proposed Flash Order Ban in the Wake of the Flash Crash

Technological innovation continues to make trading and markets more efficient, generally benefitting market participants and the investing public. But flash trading, a practice that evolved from high-frequency trading, benefits only a select few sophisticated traders and institutions with the resources necessary to view and respond to flashed orders. This practice undermines the basic principles of fairness and transparency in securities regulation, exacerbates information asymmetries and harms investor confidence. This iBrief revisits the Securities and Exchange Commission\u27s proposed ban on the controversial practice of flash trading and urges the Securities and Exchange Commission and the Commodity Futures Trading Commission to implement the ban across the securities and futures markets. Banning flash trading will not impact high-frequency trading or other advantageous innovative trading practices, and will benefit all market participants by making prices and liquidity more transparent. In the wake of the May 6, 2010 flash crash and the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, now is an opportune time for the Securities and Exchange Commission and Commodity Futures Trading Commission to implement the ban

Does the bracket-ligature combination affect the amount of orthodontic space closure over three months? A randomized controlled trial

OBJECTIVE: To investigate the effect of bracket-ligature combination on the amount of orthodontic space closure over three months. DESIGN: Randomized clinical trial with three parallel groups. SETTING: A hospital orthodontic department (Chesterfield Royal Hospital, UK). PARTICIPANTS: Forty-five patients requiring upper first premolar extractions. METHODS: Informed consent was obtained and participants were randomly allocated into one of three groups: (1) conventional pre-adjusted edgewise brackets and elastomeric ligatures; (2) conventional pre-adjusted edgewise brackets and Super Slick((R)) low friction elastomeric ligatures; (3) Damon 3MX((R)) passive self-ligating brackets. Space closure was undertaken on 0.019x0.025-inch stainless steel archwires with nickel-titanium coil springs. Participants were recalled at four weekly intervals. Upper alginate impressions were taken at each visit (maximum three). The primary outcome measure was the mean amount of space closure in a 3-month period. RESULTS: A one-way ANOVA was undertaken [dependent variable: mean space closure (mm); independent variable: group allocation]. The amount of space closure was very similar between the three groups (1 mm per 28 days); however, there was a wide variation in the rate of space closure between individuals. The differences in the amount of space closure over three months between the three groups was very small and non-significant (P = 0.718). CONCLUSION: The hypothesis that reducing friction by modifying the bracket/ligature interface increases the rate of space closure was not supported. The major determinant of orthodontic tooth movement is probably the individual patient response

Sharing the Burden of Collective Security in the European Union. Research Note

This article compares European Union (EU) burden-sharing in security governance distinguishing between assurance, prevention, protection, and compellence policies. We employ joint-product models and examine the variation in the level of publicness, the asymmetry of the distribution of costs and benefits, and aggregation technologies in each policy domain. Joint-product models predict equal burden sharing for protection and assurance because of their respective weakest-link and summation aggregation technologies with symmetric costs. Prevention is also characterized by the technology of summation, but asymmetry of costs implies uneven burden-sharing. Uneven burden-sharing is predicted for compellence because it has the largest asymmetry of costs and a best-shot aggregation technology. Evaluating burden-sharing relative to a country?s ability to contribute, Kendall tau-tests examine the rank-correlation between security burden and the capacity of EU member states. These tests show that the smaller EU members disproportionately shoulder the costs of assurance and protection; wealthier EU members carry a somewhat disproportionate burden in the provision of prevention, and larger EU members in the provision of compellence. When analyzing contributions relative to expected benefits, asymmetric marginal costs can largely explain uneven burden-sharing. The main conclusion is that the aggregated burden of collective security governance in the EU is shared quite evenly

An ingestible temperature-transmitter

Pill-sized transmitter measures deep body temperature in studies of circadian rhythm and indicates general health. Ingestible device is a compromise between accuracy, circuit complexity, size and transmission range

Orthodontic palatal implants: clinical technique

The aim of this paper is to familiarize the readers with some of the clinical considerations necessary to ensure successful use of mid-palatal implants. Both surgical and technical aspects will be discussed along with a description of impression techniques used

Heart Rate Monitoring During Different Lung Volume Phases Using Seismocardiography

Seismocardiography (SCG) is a non-invasive method that can be used for cardiac activity monitoring. This paper presents a new electrocardiogram (ECG) independent approach for estimating heart rate (HR) during low and high lung volume (LLV and HLV, respectively) phases using SCG signals. In this study, SCG, ECG, and respiratory flow rate (RFR) signals were measured simultaneously in 7 healthy subjects. The lung volume information was calculated from the RFR and was used to group the SCG events into low and high lung-volume groups. LLV and HLV SCG events were then used to estimate the subjects HR as well as the HR during LLV and HLV in 3 different postural positions, namely supine, 45 degree heads-up, and sitting. The performance of the proposed algorithm was tested against the standard ECG measurements. Results showed that the HR estimations from the SCG and ECG signals were in a good agreement (bias of 0.08 bpm). All subjects were found to have a higher HR during HLV (HR$_\text{HLV}$) compared to LLV (HR$_\text{LLV}$) at all postural positions. The HR$_\text{HLV}$/HR$_\text{LLV}$ ratio was 1.11$\pm$0.07, 1.08$\pm$0.05, 1.09$\pm$0.04, and 1.09$\pm$0.04 (mean$\pm$SD) for supine, 45 degree-first trial, 45 degree-second trial, and sitting positions, respectively. This heart rate variability may be due, at least in part, to the well-known respiratory sinus arrhythmia. HR monitoring from SCG signals might be used in different clinical applications including wearable cardiac monitoring systems

Citrus Groves in the Cloud: Is Cryptocurrency Cloud Mining a Security?

Citrus Groves in the Cloud: Is Cryptocurrency Cloud Mining a Security

Endocrine and fluid metabolism in males and females of different ages after bedrest, acceleration and lower body negative pressure

Space shuttle flight simulations were conducted to determine the effects of weightlessness, lower body negative pressure (LBNP), and acceleration of fluid and electrolyte excretion and the hormones that control it. Measurements were made on male and female subjects of different ages before and after bedrest. After admission to a controlled environment, groups of 6 to 14 subjects in the age ranges 25 to 35, 35 to 45, 45 to 55 to 65 years were exposed to +3 G sub z for 15 minutes (G1) and to LBNP (LBNP1) on different days. On 3 days during this prebedrest period, no tests were conducted. Six days of bedrest followed, and the G sub z (G2) and LBNP (LBNP2) tests were run again. Hormones, electrolytes, and other parameters were measured in 24-hour urine pools throughout the experiment. During bedrest, cortisol and aldosterone excretion increased. Urine volume decreased, and specific gravity and osmolality increased. Urinary electrolytes were statistically unchanged from levels during the non-stress control period. During G2, cortisol increased significantly over its control and bedrest levels. Urine volume, sodium, and chloride were significantly lower; specific gravity and osmolality were higher during the control period or bedrest. The retention of fluids and electrolytes after +G sub z may at least partially explain decreased urine volume and increased osmolality observed during bedrest in this study. There were some who indicated that space flight would not affect the fluid and electrolyte metabolism of females or older males any more severely than it has affected that of male astronauts