0RWRUVRIWVWDUWHU

)URP:LNLSHGLDWKHIUHHHQF\FORSHGLD

$PRWRUVRIWVWDUWHULVDGHYLFHXVHGZLWK$&HOHFWULFDO
PRWRUVWRWHPSRUDULO\UHGXFHWKHORDGDQGWRUTXHLQWKH
SRZHUWUDLQDQGHOHFWULFFXUUHQWVXUJHRIWKHPRWRUGXULQJ
VWDUWXS7KLVUHGXFHVWKHPHFKDQLFDOVWUHVVRQWKHPRWRU
DQGVKDIWDVZHOODVWKHHOHFWURG\QDPLFVWUHVVHVRQWKH
DWWDFKHGSRZHUFDEOHVDQGHOHFWULFDOGLVWULEXWLRQQHWZRUN
H[WHQGLQJWKHOLIHVSDQRIWKHV\VWHP>@
,WFDQFRQVLVWRIPHFKDQLFDORUHOHFWULFDOGHYLFHVRUD
FRPELQDWLRQRIERWK0HFKDQLFDOVRIWVWDUWHUVLQFOXGH
([DPSOHVRIPRWRUVRIWVWDUWHUV
FOXWFKHVDQGVHYHUDOW\SHVRIFRXSOLQJVXVLQJDIOXLG
PDJQHWLFIRUFHVRUVWHHOVKRWWRWUDQVPLWWRUTXHVLPLODUWR
RWKHUIRUPVRIWRUTXHOLPLWHU(OHFWULFDOVRIWVWDUWHUVFDQEHDQ\FRQWUROV\VWHPWKDWUHGXFHVWKHWRUTXHE\
WHPSRUDULO\UHGXFLQJWKHYROWDJHRUFXUUHQWLQSXWRUDGHYLFHWKDWWHPSRUDULO\DOWHUVKRZWKHPRWRULV
FRQQHFWHGLQWKHHOHFWULFFLUFXLW
$FURVVWKHOLQHVWDUWLQJRILQGXFWLRQPRWRUVLVDFFRPSDQLHGE\LQUXVKFXUUHQWVXSWRWLPHVKLJKHUWKDQ
UXQQLQJFXUUHQWDQGVWDUWLQJWRUTXHXSWRWLPHVKLJKHUWKDQUXQQLQJWRUTXH7KHLQFUHDVHGWRUTXH
UHVXOWVLQVXGGHQPHFKDQLFDOVWUHVVRQWKHPDFKLQHZKLFKOHDGVWRDUHGXFHGVHUYLFHOLIH0RUHRYHUWKH
KLJKLQUXVKFXUUHQWVWUHVVHVWKHSRZHUVXSSO\ZKLFKPD\OHDGWRYROWDJHGLSV$VDUHVXOWWKH
RSHUDELOLW\RIVHQVLWLYHFRQVXPHUVPD\EHLPSDLUHG>@
$VRIWVWDUWXSHOLPLQDWHVWKHXQGHVLUHGVLGHHIIHFWV6HYHUDOW\SHVEDVHGRQFRQWURORIWKHVXSSO\YROWDJH
RUPHFKDQLFDOGHYLFHVVXFKDVVOLSFOXWFKHVZHUHGHYHORSHG7KHOLVWSURYLGHVDQRYHUYLHZRIWKHYDULRXV
HOHFWULFVWDUWXSW\SHV7KHFXUUHQWDQGWRUTXHFKDUDFWHULVWLFFXUYHVVKRZWKHEHKDYLRURIWKHUHVSHFWLYH
VWDUWHUVROXWLRQ7RUTXHVXUJHVHQWDLOKLJKPHFKDQLFDOVWUHVVRQWKHPDFKLQHZKLFKUHVXOWVLQKLJKHU
VHUYLFHFRVWVDQGLQFUHDVHGZHDU+LJKFXUUHQWVDQGFXUUHQWSHDNVOHDGWRKLJKIL[HGFRVWVFKDUJHGE\WKH
SRZHUVXSSO\FRPSDQLHVSHDNFXUUHQWFDOFXODWLRQDQGWRLQFUHDVHGPDLQVDQGJHQHUDWRUORDGV
$VRIWVWDUWHUFRQWLQXRXVO\FRQWUROVWKHWKUHHSKDVHPRWRUVYROWDJHVXSSO\GXULQJWKHVWDUWXSSKDVH
7KLVZD\WKHPRWRULVDGMXVWHGWRWKHPDFKLQHVORDGEHKDYLRU0HFKDQLFDORSHUDWLQJHTXLSPHQWLV
DFFHOHUDWHGVPRRWKO\6HUYLFHOLIHRSHUDWLQJEHKDYLRUDQGZRUNIORZVDUHSRVLWLYHO\LQIOXHQFHG
(OHFWULFDOVRIWVWDUWHUVFDQXVHVROLGVWDWHGHYLFHVWRFRQWUROWKHFXUUHQWIORZDQGWKHUHIRUHWKHYROWDJH
DSSOLHGWRWKHPRWRU7KH\FDQEHFRQQHFWHGLQVHULHVZLWKWKHOLQHYROWDJHDSSOLHGWRWKHPRWRURUFDQ
EHFRQQHFWHGLQVLGHWKHGHOWDORRSRIDGHOWDFRQQHFWHGPRWRUFRQWUROOLQJWKHYROWDJHDSSOLHGWRHDFK
ZLQGLQJ6ROLGVWDWHVRIWVWDUWHUVFDQFRQWURORQHRUPRUHSKDVHVRIWKHYROWDJHDSSOLHGWRWKHLQGXFWLRQ
PRWRUZLWKWKHEHVWUHVXOWVDFKLHYHGE\WKUHHSKDVHFRQWURO7\SLFDOO\WKHYROWDJHLVFRQWUROOHGE\
UHYHUVHSDUDOOHOFRQQHFWHGVLOLFRQFRQWUROOHGUHFWLILHUVWK\ULVWRUVEXWLQVRPHFLUFXPVWDQFHVZLWK
WKUHHSKDVHFRQWUROWKHFRQWUROHOHPHQWVFDQEHDUHYHUVHSDUDOOHOFRQQHFWHG6&5DQGGLRGH>@
$QRWKHUZD\WROLPLWPRWRUVWDUWLQJFXUUHQWLVDVHULHVUHDFWRU,IDQDLUFRUHLVXVHGIRUWKHVHULHVUHDFWRU
WKHQDYHU\HIILFLHQWDQGUHOLDEOHVRIWVWDUWHUFDQEHGHVLJQHGZKLFKLVVXLWDEOHIRUDOOW\SHVRISKDVH
LQGXFWLRQPRWRU>V\QFKURQRXVDV\QFKURQRXV@UDQJLQJIURPN:9WR0:N98VLQJDQ
DLUFRUHVHULHVUHDFWRUVRIWVWDUWHULVYHU\FRPPRQSUDFWLFHIRUDSSOLFDWLRQVOLNHSXPSFRPSUHVVRUIDQ
HWF8VXDOO\KLJKVWDUWLQJWRUTXHDSSOLFDWLRQVGRQRWXVHWKLVPHWKRG

$SSOLFDWLRQV

6RIWVWDUWHUVFDQEHVHWXSWRWKHUHTXLUHPHQWVRIWKHLQGLYLGXDODSSOLFDWLRQ&RQYH\RUEHOWV\VWHPVFDQ
EHVPRRWKO\VWDUWHGDYRLGLQJMHUNDQGVWUHVVRQGULYHFRPSRQHQWV)DQVRURWKHUV\VWHPVZLWKEHOW
GULYHVFDQEHVWDUWHGVORZO\WRDYRLGEHOWVOLSSLQJ6RIWVWDUWVDUHVHHQLQHOHFWULFDO5&KHOLFRSWHUVDQG
DOORZWKHURWRUEODGHVWRVSRROXSLQDVPRRWKFRQWUROOHGPDQQHUUDWKHUWKDQDVXGGHQVXUJH,QDOO
V\VWHPVDVRIWVWDUWOLPLWVWKHLQUXVKFXUUHQWDQGVRLPSURYHVVWDELOLW\RIWKHSRZHUVXSSO\DQGUHGXFHV
WUDQVLHQWYROWDJHGURSVWKDWPD\DIIHFWRWKHUORDGV>@>@>@
1RQ$SSOLFDWLRQV$VGHVFULEHGDERYHVRIWVWDUWHUVFDQEHDQH[FHOOHQWPHWKRGIRUSURYLGLQJJHQWOH
VWDUWXSRISXPSVDQGPRWRUV+RZHYHUWKH\VKRXOGQRWEHXVHGLQDSSOLFDWLRQVWKDWUHTXLUHIXOOWRUTXHDW
VWDUWXS

6HHDOVR
$GMXVWDEOHVSHHGGULYH
%UDNLQJFKRSSHU
'&PRWRUVWDUWHUVHFWLRQRI(OHFWULFPRWRU
(OHFWURQLFVSHHGFRQWURO
.RUQGRUIHUVWDUWHU
0RWRUFRQWUROOHU
6SDFH9HFWRU0RGXODWLRQ
7K\ULVWRUGULYH
9DULDEOHIUHTXHQF\GULYH
9DULDEOHVSHHGDLUFRPSUHVVRU
9HFWRUFRQWUROPRWRU

5HIHUHQFHV
 6LVNLQG&KDUOHV6(OHFWULFDO&RQWURO6\VWHPVLQ,QGXVWU\1HZ<RUN0F*UDZ+LOO,QFS
,6%1
 6RIWVWDUWHUVPDFKLQHGHVLJQFRP
 %DUWRV)UDQN-$&'ULYHV6WD\9LWDOIRUWKHVW&HQWXU\&RQWURO(QJLQHHULQJ5HHG
%XVLQHVV,QIRUPDWLRQ5HWULHYHG
 (LVHQEURZQ5REHUW($&'ULYHV+LVWRULFDODQG)XWXUH3HUVSHFWLYHRI,QQRYDWLRQDQG
*URZWK.H\QRWH3UHVHQWDWLRQIRUWKHWK$QQLYHUVDU\RI7KH:LVFRQVLQ(OHFWULF0DFKLQHVDQG3RZHU
(OHFWURQLFV&RQVRUWLXP:(03(&8QLYHUVLW\RI:LVFRQVLQ0DGLVRQ:,86$:(03(&SS
5HWULHYHG
 -DKQV7KRPDV02ZHQ(GZDUG/-DQXDU\$&$GMXVWDEOH6SHHG'ULYHVDWWKH0LOOHQQLXP+RZ
'LG:H*HW+HUH",(((7UDQVDFWLRQVRQ3RZHU(OHFWURQLFV,(((GRL

5HWULHYHGIURPKWWSVHQZLNLSHGLDRUJZLQGH[SKS"WLWOH 0RWRUBVRIWBVWDUWHU ROGLG 

&DWHJRULHV $XWRPDWLRQ (OHFWULFPRWRUV (OHFWURPDJQHWLFFRPSRQHQWV
(OHFWULFSRZHUV\VWHPVFRPSRQHQWV 3RZHUHOHFWURQLFV
7KLVSDJHZDVODVWPRGLILHGRQ6HSWHPEHUDW
7H[WLVDYDLODEOHXQGHUWKH&UHDWLYH&RPPRQV$WWULEXWLRQ6KDUH$OLNH/LFHQVHDGGLWLRQDOWHUPV
PD\DSSO\%\XVLQJWKLVVLWH\RXDJUHHWRWKH7HUPVRI8VHDQG3ULYDF\3ROLF\:LNLSHGLDLVD
UHJLVWHUHGWUDGHPDUNRIWKH:LNLPHGLD)RXQGDWLRQ,QFDQRQSURILWRUJDQL]DWLRQ