You are on page 1of 5

7KXQGHUEROW,QWHUFRQQHFW±&RPSDULQJ2SWLFDODQG

&RSSHU$SSURDFKHV
*XRELQ/LX-HUU\*DR+HQJMX&KHQJ+XL&KLQ:X(GPRQG/DX/L<XDQ&KULVWLQH.UDXVH
,QWHO&RUSRUDWLRQ
6DQWD&ODUD&DOLIRUQLD86$
JXRELQOLX#LQWHOFRP


Abstract 7KXQGHUEROW,QWHUFRQQHFW7HFKQRORJ\KDVDGRSWHG WR WKH PDUNHW DURXQG ODWH  LW LV WKH QHZ KLJKVSHHG ORZ
ERWKFRSSHUDQGRSWLFDOFDEOHV2QHVLQJOHFDEOHFDQVXSSRUWWZR SRZHUVPDOOIRUPIDFWRUFDEOHWHFKQRORJ\ZLWKWKHLQWHQVLRQ
ELGLUHFWLRQDOVLJQDOODQHVDWDGDWDUDWHRI[*EVZKLFK
LV GULYHQ E\ GHPDQG RI . YLGHR )XWXUH . YLGHR DQG 9LUWXDO
5HDOLW\ 95  ZLOO SXVK WKH EDQGZLGWK UHTXLUHPHQW HYHQ KLJKHU
)RUPIDFWRUOLQNGLVWDQFHXVDJHPRGHODQGKHDWGLVVLSDWLRQDUH
DOOSODFHGLQWRGHVLJQFRQVLGHUDWLRQ.H\WHFKQRORJLHVGHYHORSHG
WRHQDEOHWKLVKLJKGDWDUDWHFRQVXPHUFDEOHDUHGLVFXVVHGVXFK
DV UREXVW FRSSHU DQG RSWLFDO FDEOHV PLQLDWXUH RSWLFDO HQJLQH
WKHUPDO GHVLJQ DQG [*EV ORZ SRZHU LQWHJUDWHG FLUFXLWV
IRU 9&6(/EDVHG RSWLFDO OLQN &RSSHU DQG RSWLFDO LQWHUFRQQHFW
WHFKQRORJLHV DUH FRPSDUHG IURP WKH SHUVSHFWLYH RI FRVW SRZHU

IRUPIDFWRUDQGVFDODELOLW\7RWDOSRZHUFRQVXPSWLRQLVP:
)LJ 7KXQGHUEROWFDEOH&RSSHUFDEOHRQWKHOHIWRSWLFDOFDEOHRQWKHULJKW
IRU HDFK *EV RSWLFDO OLQN ZKLFK JLYHV P:*EV
$PRQJ WKH FRPPHUFLDOO\ DYDLODEOH RSWLFDO ,&V ZH HYDOXDWHG DW
*EVWKLVZRUNKDVORZHVWSRZHUFRQVXPSWLRQDQGVPDOOHVW WREHWKHVLQJOHXQLYHUVDO,2IRUIXWXUHFRPSXWHUVDQGSRUWDEOH
GLHDUHDLQLQGXVWU\ GHYLFHV
7KXQGHUEROW LQWHUFRQQHFW WHFKQRORJ\ KDV LQWURGXFHG WZR
Keywords— Thunderbolt; Optical interconnect; 100Gb/s; W\SHVRIDFWLYHFDEOHFRSSHUDQGRSWLFDODVVKRZQLQ)LJ>@
Optical Transceiver; BiCMOS; VCSEL $Q DFWLYH FRSSHU FDEOH VXSSRUWV WKH OLQN GLVWDQFH RI P DW
*EV P DW *EV $Q DFWLYH 9HUWLFDO &DYLW\ 6XUIDFH
, ,1752'8&7,21 (PLWWLQJ /DVHU 9&6(/  EDVHG RSWLFDO FDEOH VXSSRUWV OLQN
,QWHUFRQQHFWWHFKQRORJ\KDVSURJUHVVHGDWDYHU\IDVWSDFH GLVWDQFH XS WR P ,Q WKH QH[W JHQHUDWLRQ 7KXQGHUEROW FDEOH
LQ WKH SDVW GHFDGH 7KH VLJQDOLQJ UDWH KDV VWHDGLO\ LQFUHDVHG *HQ [*7KXQGHUEROWVLJQDODQG*86%VLJQDODUH
IURP 0EV WR *EV :LWK WKH UHOHDVH RI 7KXQGHUEROW FRQYHUJHG WR WKH VDPH 86% W\SH& FRQQHFWRU 7KH
WHFKQRORJ\ZHDUHHQWHULQJDQHZHUDLQFRQVXPHUHOHFWURQLFV LQWURGXFWLRQRIWKHRSWLFDOFDEOHWHFKQRORJ\LQWKH7KXQGHUEROW
WKDWUXQVDW*EVOLQHUDWH *EVWKURXJKSXWSHUFRQQHFWRU RSHQV XS QHZ XVDJH PRGHOV SUHYLRXV QRW DOORZHG E\ WKH
LQWHUIDFH >@7KLVLVGULYHQE\WKHEDQGZLGWKUHTXLUHPHQWV FRSSHUFDEOHVLQFRQVXPHUHOHFWURQLFV>@
RI WKH . YLGHR ZKLFK TXLFNO\ EHFRPHV WKH PDLQ VWUHDP
WRGD\6LQFH.YLGHRDQG9LUWXDO5HDOLW\ 95 DUHDOUHDG\RQ ,, &+$//(1*(6$1''(6,*1
WKH KRUL]RQ VLJQLILFDQW MXPS LQ LQWHUFRQQHFW WKURXJKSXW LV 2QH RI WKH GHVLJQ FKDOOHQJHV ZDV WR PDNH WKH ,& VPDOO
UHTXLUHG GRZQ WKH URDG 2Q WKH GDWD FHQWHU DQG FORXG VLGH HQRXJKWRILWLQWRWKHPLQLDWXUHRSWLFDOHQJLQHZKLFKILWVLQVLGH
PRELOH GDWD WUDIILF LV FRQWULEXWLQJ PRUH WKDQ  DQG WKH WKH UHJXODU FDEOH SOXJ $W  *EV WRWDO LQWHJUDWHG QRLVH LV
SHUFHQWDJH LV VWLOO LQFUHDVLQJ 7KLV SXVKHV GDWD FHQWHU KLJKHUWKDQDW*EVGXHWRKLJKHUEDQGZLGWKWKLVSXWVKLJKHU
LQWHUFRQQHFWGDWDUDWHWR**DQGKLJKHU(OHFWULFDO,2 FKDOOHQJH RQ UHFHLYHU VHQVLWLYLW\ UHTXLUHPHQW ,Q JHQHUDO
LV LQFUHDVLQJO\ OLPLWHG E\ FRSSHU FKDQQHO ZKRVH LQWHUFRQQHFW ELSRODUKDVKLJKHUJDLQWKDQ&026SHUJDLQVWDJHDQGaG%
ORVV LV IUHTXHQF\ DQG GLVWDQFH GHSHQGHQW 7R RYHUFRPH WKLV EHWWHUQRLVHSHUIRUPDQFH>@,QWKLVGHVLJQ%L&026SURFHVV
OLPLWDWLRQ H[WUD FLUFXLWU\ KDV EHHQ DGGHG WR FRPSHQVDWH IRU ZDVFKRVHQLQRUGHUWRKDYHOHVVJDLQVWDJHVDQGFRPSDFWKLJK
FRSSHU FKDQQHO¶V ORVV WKHVH FLUFXLWV EXUQ PRUH SRZHU DGG VSHHG FKDQQHO ZKLOH WKH DGYDQWDJH RI &026 VWLOO H[LVWV IRU
PRUH FRPSOH[LW\ DQG WDNH H[WUD VSDFHV> @ 2Q WKH RWKHU LQWHJUDWLQJ GLJLWDO FRQWURO SRZHU PDQDJHPHQW DQG 9&6(/
KDQGRSWLFDOILEHUKDVEHHQZLGHO\XVHGRYHUORQJHUGLVWDQFHV ELDVLQJ FRQWURO FLUFXLWU\ ,Q WKLV ZRUN XP %L&026 ZDV
ZKLOH PDLQWDLQLQJ KLJKHU GDWD UDWH GXH WR VLJQLILFDQWO\ ORZHU FKRVHQWRVDYHWDSHRXWDQGZDIHUPDQXIDFWXULQJFRVW
DWWHQXDWLRQDQGEHWWHULPPXQHWRHOHFWURPDJQHWLFLQWHUIHUHQFH
(0,  ,Q DGGLWLRQ ZLWK VPDOOHU DQG VPDOOHU V\VWHP IRUP $QRWKHU FKDOOHQJH LV WR PDNH WKH RSWLFDO FDEOH UREXVW
IDFWRUVWKHUHLVQRWPXFKURRPOHIWIRUDOOWKHFRQQHFWRUVVXFK HQRXJK WR KDQGOH GDLO\ FRQVXPHU DEXVHV VXFK DV VWDSOH JXQ
DV (WKHUQHW H6$7$ '9, 86% +'0, DQG 'LVSOD\ 3RUW > WHVW IOH[LQJ DQG WZLVWLQJKDUGSLQFK HYHQKDPPHU GURS WHVW
@7KXQGHUEROW 7%7 LQWHUFRQQHFWWHFKQRORJ\ZDVLQWURGXFHG DQGWKHILEHULQVLGHWKHFDEOHFDQQRWEUHDN

978-1-5386-2231-5/17/$31.00 ©2017 IEEE 305


)LJ  VKRZV WKH ;* WUDQVPLWWHU 7;  ,& EORFN
GLDJUDP  ,W KDV WZR LGHQWLFDO FKDQQHOV HDFK FKDQQHO FRQVLVWV
RIKLJKVSHHGVLJQDOSDWK LQSXWHTXDOL]HUJDLQVWDJH9&6(/
GULYHU  ORZ VSHHG VHULDOLQSDUDOOHORXW 6,32  FRQWURO
LQWHUIDFH 9&6(/ ELDV DQG PRGXODWLRQ FXUUHQW FRQWURO H\H
VDIHW\DQGGULYHUFRPPRQPRGHYROWDJHIHHGEDFNFRQWURO
;* UHFHLYHU 5;  ,& EORFN GLDJUDP LV VKRZQ LQ
)LJ  (DFK FKDQQHO KDV KLJK VSHHG VLJQDO SDWK 7UDQV
,PSHGDQFH $PSOLILHU 7,$  OLPLWLQJ DPSOLILHU /$  RXWSXW
VWDJH  6,32 ELDVLQJ FRQWURO VLJQDO GHWHFW 6'   UHFHLYHU
VLJQDOVWUHQJWKLQGLFDWRU 566,  
0RUH GHWDLOHG FLUFXLWV DUH VKRZQ LQ )LJ DQG )LJ  2Q )LJ 7UDQVPLWWHUFLUFXLW
7;VLGHHOHFWULFDOLQSXWVZLQJLVP9GLIIHUHQWLDOSHDNWR
SHDN 4 DQG 4 IRUP LQSXW VWDJH DORQJ ZLWK WKH HPLWWHU
GHJHQHUDWLRQ ZKLFK JLYHV aG% HTXDOL]DWLRQ FDSDELOLW\ /RZ
VSHHG GULYHU FRPPRQ PRGH FRQWURO ORRS HQVXUHV WKDW 4 DQG
4 DUH RSHUDWLQJ DW WKH ULJKW '& ELDV YROWDJH RYHU 3URFHVV
9ROWDJH  7HPSHUDWXUH 397  'XPP\ 9&6(/  )LOWHU
EORFN PLQLPL]H ODUJH FXUUHQW VSLNH RQ SRZHU VXSSO\ ZKLOH
NHHSLQJQRGH$DQ$&JURXQG(\H6DIHW\DQG&DWKRGH6ZLWFK
IRUP D SURWHFWLRQ ZKLFK HQVXUHV 9&6(/ LV RII LI WKH DQRGH
YROWDJHLVWRRKLJK HJERQGLQJZLUHVKRUWHGWRSRZHUVXSSO\ 
2Q5;VLGH4DQG4IRUPDVLQJOHHQGHG7,$ZKLFKLV
SRZHUHG E\ RQFKLS UHJXODWRU 4 4 4 4 IRUP D JDLQ
VWDJHZKRVHJDLQLVDURXQGG%2XWSXWVWDJHKDVaG%SUH
HPSKDVLV FDSDELOLW\ /RZ VSHHG RIIVHW FDQFHOODWLRQ FRQWURO
ORRSUHPRYHVWKHDYHUDJHFXUUHQWIURPWKHSKRWRGHWHFWRU 3' 
(OHFWULFDORXWSXWVZLQJLVP9GLIIHUHQWLDOSHDNWRSHDN 
 )LJ 5HFHLYHUFLUFXLW


)LJ [*WUDQVPLWWHUEORFNGLDJUDP

)LJ 7;,QSXW(TXDOL]DWLRQ

$W *EV WKHUH DUH UHWLPHUV LQ WKH HOHFWULFDO VLJQDO SDWK
DQG WKH\ DUH  LQFKHV DZD\ IURP RSWLFDO ,& HOHFWULFDO
LQWHUIDFH ,Q RUGHU WR UHGXFH SRZHU FRQVXPSWLRQ DQG KDYH D
FRPSDFW GHVLJQ 7; KDV RQO\ RQH JDLQ VWDJH 7KDQNV WR WKH
KLJK JDLQ RI ELSRODU KLJK VSHHG VLJQDO FDQ IXOO\ VZLWFK GLII
SDLU 44 ZLWK RQO\ RQH JDLQ VWDJH  7; SRZHU LV
FRQVXPHGE\9&6(/LWVHOIRQO\SRZHULVFRQVXPHGE\
JDLQ VWDJH 7HVWLQJ UHVXOW VKRZV WKDW RQH JDLQ VWDJH DQG G%
HTXDOL]DWLRQLQ7;LVVXIILFLHQWLQWKHRSWLFDOOLQN)LJVKRZV
 7;LQSXWHTXDOL]HUQRUPDOL]HGJDLQSORWIURPVLPXODWLRQ
)LJ [*UHFHLYHUEORFNGLDJUDP

306
2Q5;VLGHRXWSXWVZLQJLVaP95;¶VG%RXWSXW
HTXDOL]DWLRQFDQFRPSHQVDWHWKHLQFK3&%ORVVEHIRUHWKH
VLJQDOUHDFKHVWKHUHWLPHU

,,, 0($685(0(175(68/76
7KH PHDVXUHPHQW YHKLFOH XVHG LQ WKLV ZRUN LV D VWDQGDUG
46)3* RSWLFDO PRGXOH 6LQFH ZH KDYH ERWK FKDQQHO
DQG FKDQQHO ,&V DOO FKDQQHOV DUH LGHQWLFDO  ZH WHVWHG 
FKDQQHO [* 7; DQG 5; )LJ  VKRZV WKH FKLS
PLFURJUDSKZKHUH7;LVZLUHERQGHGWR9&6(/DUUD\5;LV
ZLUH ERQGHG WR SKRWR GHWHFWRU 3'  DUUD\ >@ )LJ  LV D
46)3RSWLFDO PRGXOH3&%ERDUGZKHUHWKH[*RSWLFDO
HQJLQH LV FDSHG XQGHU WKH \HOORZ SODVWLF OHQV 7KH ZKROH
RSWLFDO HQJLQH LV YHU\ VPDOO PP[PP ZLWK PP KHLJKW
7KHWZREODFNVTXDUHVDUHWKHUHWLPHUV 

)LJ5;%(50HDVXUHPHQW5HVXOW



)LJ7KXQGHUEROWRSWLFDOFDEOHSDGGOHERDUG
)LJ [*7;DQG5;FKLSPLFURJUDSK


)LJ [*RSWLFDOHQJLQHRQ3&% 

)LJ0LQLDWXUH7KXQGHUEROWRSWLFDOHQJLQH



)LJVKRZV46)3RSWLFDOPRGXOH3&%DQGKRXVLQJRQ
OHIW VLGH DQG WKH WHVW VHWXS RQ ULJKW VLGH $W *EV 7;
 9&6(/OLJKWRXWSXWH\HGLDJUDPVDUHVKRZQLQ)LJ>@$W
ƒ& WRWDO MLWWHU LV SV DQG H\H KHLJKW LV X: $W ƒ&
)LJ 2SWLFDOPRGXOH3&%KRXVLQJDQGWHVWVHWXS WRWDOMLWWHULVSVH\HKHLJKWLVX:7ZRRSWLFDOH\HVZHUH
PHDVXUHG DW WKH VDPH 9&6(/ FXUUHQW ELDVLQJ FRQGLWLRQ $W
ƒ& ƒ& KLJKHU WHPSHUDWXUH 9&6(/¶V VORSH HIILFLHQF\ DQG EDQGZLGWK
DUHGHJUDGHGWKHH\HKDVPRUHFORVXUH
5HFHLYHU¶V SKRWR GHWHFWRU¶V UHVSRQVLYLW\ LV P$P:
)URP 5;¶V %LW(UURU5DWH %(5  PHDVXUHPHQW UHVXOWV )LJ
 GDVKHG OLQHV DUH H[WUDSRODWLRQ  5; RSWLFDO PRGXODWLRQ
DPSOLWXGH 20$ VHQVLWLYLW\ %(5 ( LVG%PDQG
G%P DW ƒ& DQG ƒ& UHVSHFWLYHO\ 'XH WR 3&% OD\RXW
UHVWULFWLRQ 5; HOHFWULFDO RXWSXW H\H ZHUH QRW PHDVXUHG $W

KLJKHU WHPSHUDWXUH 5;¶V EDQGZLGWK GURSV DQG FLUFXLW QRLVH
)LJ9&6(/RXWSXWH\HGLDJUDPDWƒ&DQGƒ&

307
LQFUHDVHV WKLV PDNHV 5;¶V VHQVLWLYLW\ ZRUVH DW KLJKHU
WHPSHUDWXUH
7UDQVPLWWHU 9&6(/ ODXQFKLQJ SRZHU LV DERXW G%P
20$  7KH RSWLFDO OLQN PDUJLQ %(5 (  LV G% DW
ƒ& DQG G% DW ƒ& :LWK WKLV ODUJH OLQN PDUJLQ (
%(5LVDFKLHYHGZLWKRXWXVLQJVRSKLVWLFDWHGHTXDOL]DWLRQDQG
IRUZDUGHUURUFRUUHFWLRQ )(&  7KH ZRUVW FDVH RSWLFDO
FRXSOLQJORVVDW7;DQG5;VLGHLVG%

&XUUHQW JHQHUDWLRQ *HQ   7KXQGHUEROW RSWLFDO FDEOH
SDGGOH ERDUG )LJ   LV VPDOO HQRXJK WR UHVLGH LQVLGH WKH )LJ7%77\SH&FRQQHFWRUDQGSOXJWKHUPDODQDO\VLV
FRQQHFWRU SOXJ VKRZQ LQ )LJ  EODFN SOXJ  7KH RSWLFDO
HQJLQH KDV YHU\ VLPLODU GHVLJQ DV LQ )LJ  EXW VPDOOHU VL]H /RZSRZHULVH[WUHPHO\FULWLFDOHVSHFLDOO\IRUVPDOOIRUP
PP[PP[PP >@ IDFWRU FRQQHFWRU ZKLFK GRHV QRW KDYH KHDW VLQN 86% W\SH&
FRQQHFWRU LV D PXFK VPDOOHU IRUP IDFWRU WKDQ SUHYLRXV 86%
)LJVKRZVDQHZPLQLDWXUH7KXQGHUEROWRSWLFDOHQJLQH FRQQHFWRUVPP0D[LPXPKHLJKWOLPLWVWKHFDEOHGLDPHWHU
ZKLFK KDV [* RSWLFDO ,&V 9&6(/3' DQG RSWLFDO OHQV DQGWKHZLUHJDXJHVLQVLGHWKHFDEOH)RUFRQVXPHUDSSOLFDWLRQ
LQVLGH7KHGLPHQVLRQRIWKHRSWLFDOHQJLQHLVPP[PP[ SHRSOHSUHIHUQRWWRGLVVLSDWHKHDWWRKRVWZKLFKGRHVQRWKDYH
PPLWFDQJRWKURXJKUHIORZVROGHULQJSURFHVVDQGILWLQWR DLUIORZFDEOHGRHVQRWKDYHDJRRGWKHUPDOSDWKKRWSOXJZLOO
WKH7KXQGHUEROWRSWLFDOFDEOHFRQQHFWRUSOXJ>@ DIIHFWFRQVXPHUWRXFKH[SHULHQFH)LJVKRZV7%7W\SH&
7KHPHDVXUHPHQWUHVXOWVDUHVXPPDUL]HGLQ7DEOH, FRQQHFW DQG SOXJ WKHUPDO VLPXODWLRQ ,QVLGH WKH FDEOH SOXJ
WKHUH DUH PXOWLSOH KHDW VRXUFHV UHWLPHU YROWDJH UHJXODWRU
RSWLFDO HQJLQH FKDUJLQJ FXUUHQW JRLQJ WKURXJK ZLUH FRQWDFW
7$%/(, 29(59,(:2)0($685(0(175(68/76
SLQV DQG 3&% WUDFHV $OO WKRVH KHDW VRXUFHV QHHG WR EH
7HFKQRORJ\ XP%L&026 GLVVLSDWHGVRPHZKHUH7KHFDEOHGHVLJQQHHGVWRPDNHVXUHWKH
HQWLUHSRZHULVORZ
3RZHUVXSSO\ 9
)RUP )DFWRU 0LQLDWXUH RSWLFDO WUDQVFHLYHU LV FULWLFDO WR
2SWLFDOZDYHOHQJWK QP DFKLHYHWKHVPDOOIRUPIDFWRUUHTXLUHGLQVLGHWKHFDEOHSOXJ,Q
[*EV FKDQQHO  RUGHUWRDFKLHYHWKDWWKH,&VKDYHYHU\FRPSDFWGHVLJQDQGDUH
'DWHUDWH
[*EV FKDQQHO  KLJKO\ LQWHJUDWHG ZLWK GLJLWDO VHULDO LQWHUIDFH 9&6(/
G%#ƒ& WHPSHUDWXUH VHQVRU ELDVLQJ FXUUHQW FRPSHQVDWLRQ FRQWURO
2SWLFDOOLQNPDUJLQ
G%#ƒ& SRZHU PDQDJHPHQW FLUFXLWU\ HWF 7RWDO ,& DUHD IRU FKDQQHO
G%P#ƒ& *EV RSWLFDO OLQN 7;  5;  LV PPð 9&6(/ DOVR KDV
5;VHQVLWLYLW\ 20$  YHU\ VPDOO GLH VL]H aXP [ XP SHU 9&6(/ VKRZQ LQ
G%P#ƒ&
)LJ $VLQJOHSLHFHSUHFLVLRQPROGHGSODVWLFOHQVFRYHUVWKH
7UDQVPLWWHUSRZHU P: 9&6(/ 3' DQG RSWLFDO ,&V DQG SURYLGHV HIILFLHQW RSWLFDO
5HFHLYHUSRZHU P: FRXSOLQJIURPILEHUVWRRSWLFDOGHYLFHV7KHVL]HRIWKHZKROH
7RWDOSRZHUGLVVLSDWLRQ P:SHU*OLQN RSWLFDO HQJLQH LV PP [ PP [ PP VPDOO HQRXJK WR ILW
LQWRWKH7%7FDEOHSOXJ
7RWDOGLHVL]H [PPð
 2Q FDEOH VLGH EDVHG RQ WKH 7KXQGHUEROW HOHFWULFDO FDEOH
SURGXFWV WKH VLJQDO FRQGLWLRQLQJ FKLS LV XVHG WR PDNH WKH
FRSSHU FDEOH WKLQQHU LQVWHDG RI ORQJHU DQG FRQVXPHU DOZD\V
,9 $'9$17$*(6
SUHIHUVWRKDYHWKLQDQGOLJKWFDEOH>@7RPDNHWKLVKDSSHQ
&RPSDUHGZLWKSULRUSXEOLFDWLRQVRI*EVRSWLFDOOLQN YHU\ VPDOO FRSSHU ZLUHV $:* $:*  DUH XVHG 7KHVH
>@>@  DQG FRSSHU LQWHUFRQQHFWV WKLV GHVLJQ KDV WKH H[WUHPHO\ WKLQ FRSSHU ZLUHV KDYH KLJK DWWHQXDWLRQ DQG YHU\
IROORZLQJDGYDQWDJHV OLPLWHGUHDFK6LQFHWKHRSWLFDOILEHULVWKLQQHUDQGOLJKWHUWKDQ
3RZHU$W*EV7KXQGHUEROW*HQ2SWLFDOWR(OHFWULFDO WKHFRSSHUFRXQWHUSDUWWKHFDEOHIRUPIDFWRUGHILQLWHO\IDYRUV
2(  FRQYHUVLRQ SRZHU SHU RSWLFDO OLQN ZDV aP:*EV WKHRSWLFV
>@$VRIWRGD\FRSSHUOLQN¶VSRZHUSHUIRUPDQFHEHQFKPDUN &RVW )RU FRQVXPHU HOHFWURQLFV FRVW LV H[WUHPHO\
LV aP:*EV >@ DQG WKH SRZHU LV PDLQO\ XVHG WR VHQVLWLYH DQG ORZ FRVW LV WKH NH\ WR PDUNHW VXFFHVV
RYHUFRPH VLJQDO GHJUDGDWLRQ IURP WKH KLJK DWWHQXDWLRQ RI 7UDGLWLRQDOO\RSWLFDOWUDQVFHLYHUDVVHPEO\FRVWLVKLJKGXHWR
FRSSHUFDEOHZKLFKLVaG%SHUPHWHU2SWLFDOILEHUKDVYHU\ SUHFLVLRQ RSWLFDO DOLJQPHQW 7KLV RSWLFDO HQJLQH¶V SODQDU
ORZ DWWHQXDWLRQ aG% SHU NLORPHWHU  ZKLFK DOORZV ORQJHU VLQJOHSLHFH OHQV GHVLJQ PDGH WKH DVVHPEO\ SURFHVV IXOO\
UHDFK RSWLFDO FDEOH $W *EV 7KXQGHUEROW RSWLFDO HQJLQH DXWRPDWLFSRVVLEOHZLWKWKHIDVWSUHFLVLRQGLHERQGLQJDQGOHQV
9&6(/EDVHG KDVDFKLHYHG2(FRQYHUVLRQSRZHUHIILFLHQF\
DWWDFKPHQW$ORQJZLWKWKHFRPSDFWORZSRZHU,&VWKLVQHZ
RI aP:*EV WKDQNV WR WKH FRPSDFW ,& GHVLJQ DQG ORZ
SRZHUFRQVXPSWLRQRI9&6(/ aP:DW*EV 7KLVORZ RSWLFDO HQJLQH GHVLJQ KDV UHDOO\ GULYHQ GRZQ WKH FRVW RI WKH
SRZHUPDGHWKHRSWLFDOHQJLQHGHVLJQVPDOOHQRXJKWRILWLQWR RSWLFDO WUDQVFHLYHU 6LPLODU RSWLFDO HQJLQH GHVLJQ VKRZQ LQ
WKHUHJXODUFDEOHSOXJZLWKRXWWKHKHDWVLQN

308
)LJIRU46)3ZLOOIXUWKHUGULYHGRZQFRVWRIGDWDFHQWHU LQWHUFRQQHFWWHFKQRORJ\[*EVRSWLFDOWUDQVPLWWHUDQG
RSWLFDOOLQNV UHFHLYHU,&VFDQEHXVHGLQ*46)3RSWLFDOOLQNLQGDWD
2Q FDEOH VLGH RSWLFDO ILEHU LV VLJQLILFDQWO\ FKHDSHU WKDQ FHQWHU DSSOLFDWLRQ 7KLV *EV RSWLFDO OLQN KDV ORZHVW SRZHU
WKH FRSSHU ZLUH FRXQWHUSDUW DVVXPLQJ WKH VDPH OHQJWK FRQVXPSWLRQ VPDOOHVW IRUP IDFWRU ORZHVW FRVW DPRQJ
+RZHYHUDGGLWLRQDOFRVWLVDGGHGLQWRDFWLYHRSWLFDOFDEOHGXH DOWHUQDWLYH RSWLRQV DYDLODEOH LQ LQGXVWU\ DQG DFKLHYHG G%
WR WKH RSWLFDO HQJLQH 2( FRQYHUVLRQ  DQG WKH ILEHU FDEOH RSWLFDOOLQNPDUJLQIRU%(5RI(ZLWKRXWXVLQJIRUZDUG
WHUPLQDWLRQ>@,QDVKRUWFDEOH aP WKHUDZFRSSHUFDEOH HUURUFRUUHFWLRQ )(&  +LJK OLQN PDUJLQ DQG KLJK EDQGZLGWK
FRVWLVDVPDOOSRUWLRQRIWKHWRWDOFRVWWKHUHIRUHWKHIL[HGFRVW 9&6(/ZLOOPDNH3XOVH$PSOLWXGH0RGXODWLRQ 3$0 YHU\
DGGHU RI WKH RSWLFDO HQJLQH PDNHV WKH DFWLYH RSWLFDO FDEOH SRVVLEOHDW*EV *EDXGV 
PRUH H[SHQVLYH +RZHYHU DV WKH FDEOH JHWV ORQJHU WKH FRVW %DVHG RQ 7KXQGHUEROW FDEOH SURGXFWV FRSSHU DQG RSWLFDO
DGYDQWDJH RI RSWLFDO FDEOH VWDUWV WR VKLQH $V D URXJK LQWHUFRQQHFW WHFKQRORJLHV ZLOO FRH[LVW LQ WKH IRUHVHHDEOH
HVWLPDWLRQ DVVXPHVLPLODUYROXPHRQERWKFRSSHUDQGRSWLFDO IXWXUH&RSSHUVHUYHVWKHVKRUWUHDFKOLQNZKLOHRSWLFVH[SDQGV
FDEOH  WKH FURVVRYHU SRLQW LV aP )RU FRQVXPHU OLQN GLVWDQFH IRU YDULRXV QHZ XVDJH PRGHOV VXFK DV 9LUWXDO
LQWHUFRQQHFWVWKHYROXPHRQFRSSHUFDEOHLVVWLOOPXFKELJJHU 5HDOLW\ &RVW SRZHU DQG IRUP IDFWRU ZLOO GHWHUPLQH HLWKHU
WKDQWKDWRIWKHRSWLFDOFDEOH$VWKHGDWDUDWHJRHVKLJKHUWKLV FRSSHURURSWLFVEHLQJXVHGLQDVSHFLILFXVDJHPRGHO:HGR
FURVVRYHUSRLQWZLOOJHWVKRUWHU H[SHFWWKHUHDFKFURVVRYHUSRLQWEHWZHHQFRSSHUDQGRSWLFVWR
7DEOH ,, VKRZV D FRPSDULVRQ RI WKUHH GLIIHUHQW FDEOH EHFRPHVKRUWHUDQGVKRUWHUDVGDWDUDWHVJRXS$W*EVWKLV
WHFKQRORJLHV EH\RQG *EV DFWLYH FRSSHU FDEOH 6LOLFRQ OHQJWK KDV UHGXFHG WR aP $V WKH KLJKVSHHG 9&6(/
3KRWRQLFV EDVHG RSWLFDO OLQN RSWLFDO6L3  DQG 9&6(/EDVHG WHFKQRORJ\ DGYDQFHV RSWLFDO FDEOH ZLOO EH ZHOO SRVLWLRQHG LQ
WKH QH[W JHQHUDWLRQ 7KXQGHUEROW LQWHUFRQQHFW WHFKQRORJ\ DQG
7%7 RSWLFDO OLQN )RU VKRUW GLVWDQFH FRSSHU LV WKH ZLQQHU
RWKHU FRQVXPHU ,2 DQG FDQ EH IXUWKHU VFDOHG WR * *
6LOLFRQ 3KRWRQLFV EDVHG RSWLFDO OLQN LV IRU PXFK ORQJHU DQGKLJKHUGDWDUDWH
GLVWDQFH FRVW LV UHODWLYHO\ KLJKHU GXH WR PRUH VRSKLVWLFDWHG
PRGXODWLRQVFKHPHDQG'GLHVWDFNSDFNDJLQJ,QEHWZHHQ
PHWHUVDQGDIHZKXQGUHGPHWHUV9&6(/EDVHGRSWLFDOOLQNLV 5()(5(1&(6
WKH EHVW VROXWLRQ ,Q WKH IXWXUH VLOLFRQ SKRWRQLFV LQWHJUDWLRQ 
ZLWK PRGXODWRU PD\ GULYH GRZQ WKH FRVW EXW 9&6(/EDVHG >@ + &KHQJ & .UDXVH - .R 0 *DR * /LX + :X 0 4L & /DP
³2SWLFVYVFRSSHU±IURPWKHSHUVSHFWLYHRI³7KXQGHUEROW´,QWHUFRQQHFW
RSWLFDOOLQNLVVWLOOWKHFKHDSHVWEDVHGRQFXUUHQWFRPPHUFLDOO\ 7HFKQRORJ\´63,(3URFHHGLQJVYRO2SWRHOHFWURQLF,QWHUFRQQHFWV
DYDLODEOHRSWLFDOOLQNVDQGPDUNHWVKDUHV ;,,,-)HE
>@ - *DR + :X * /LX ( /DX / <XDQ & .UDXVH + &KHQJ
7$%/(,, &203$5,6212)',))(5(17&$%/(7(&+12/2*,(6 ³[* /RZ 3RZHU 2SWLFDO ,& IRU 7KXQGHUEROW 2SWLFDO &DEOH
7HFKQRORJ\´  &KLQD 6HPLFRQGXFWRU 7HFKQRORJ\ ,QWHUQDWLRQDO
FRQIHUHQFH &67,& 0DUFK
>@ - *DR + :X ' 1HOVRQ + &KHQJ ³/LJKW 3HDN *EV ILEHU
RSWLFDOWUDQVFHLYHU,&LQQP&026´,QWHO'77&
>@ &.URPHU*6LDOP&%HUJHU70RUI06FKPDW])(OOLQJHUHWDO
³$ P: [ *EV WUDQVFHLYHU LQ QP &026 IRU KLJKGHQVLW\
RSWLFDOLQWHUFRQQHFWV´,(((-RXUQDORI6ROLG6WDWH&LUFXLWVYROQR
'HF
>@ ' 0 .XFKWD  ³$ QP &026 *EV WUDQVFHLYHU IRU RSWLFDO
LQWHUFRQQHFWV´,(((-RXUQDORI6ROLG6WDWH&LUFXLWVYROQRSS
0D\
>@ 6 3DOHUPR $ (PDPL1H\HVWDQDN 0 +RURZLW] ³$ QP &026
*EV WUDQVFHLYHU IRU RSWLFDO LQWHUFRQQHFWV´ ,((( -RXUQDO RI 6ROLG
6WDWH&LUFXLWVYROQR0D\
>@ 77DNHPRWR+<DPDVKLWD7<D]DNL1&KXMR</HH<0DWVXRND
 ³$ WR *EV KLJKVHQVLWLYLW\ G%P   QP &026 RSWLFDO
 UHFHLYHUIRUERDUGWRERDUGLQWHUFRQQHFWV´,(((-RXUQDORI6ROLG6WDWH
&LUFXLWVYROQR2FW
9 &21&/86,21 >@ ( 7HPSRULWL * 0LQRLD 0 5HSRVVL ' %DOGL $ *KLOLRQL ) 6YHOWR
³$ *EV P: 6LOLFRQ3KRWRQLFV 7UDQVPLWWHU LQ ',QWHJUDWHG
7KLV ZRUN GHPRQVWUDWHV [*EV ORZ SRZHU RSWLFDO 3,&* DQG QP %L&026 7HFKQRORJLHV´ ,((( ,QWHUQDWLRQDO 6ROLG
WUDQVPLWWHUDQGUHFHLYHU,&VDQGWKHODWHVW7KXQGHUEROWRSWLFDO 6WDWH&LUFXLWV&RQIHUHQFHSDSHUVHVVLRQSS)HE


309