Professional Documents
Culture Documents
7SD511 Manual A7
7SD511 Manual A7
)LJXUH ,OOXVWUDWLRQ RI WKH QXPHULFDO FXUUHQW FRPSDULVRQ SURWHFWLRQ UHOD\ 6' LQ IOXVK PRXQWLQJ FDVH
. 6LHPHQV $*
6' 9 &RQIRUPLW\
&RQIRUPLW\
7KLV SURGXFW LV LQ FRQIRUPLW\ ZLWK WKH GLUHFWLYH RI WKH &RXQFLO RI WKH (XURSHDQ &RPPXQLWLHV RQ WKH DSSUR[LPD
WLRQ RI WKH ODZV RI WKH 0HPEHU 6WDWHV UHODWLQJ WR HOHFWURPDJQHWLF FRPSDWLELOLW\ (0& &RXQFLO 'LUHFWLYH
((& DQG FRQFHUQLQJ HOHFWULFDO HTXLSPHQW IRU DSSOLFDWLRQ ZLWKLQ VSHFLILHG YROWDJH OLPLWV /RZYROWDJH
GLUHFWLYH ((&
&RQIRUPLW\ LV SURYHG E\ WHVWV WKDW KDG EHHQ SHUIRUPHG DFFRUGLQJ WR DUWLFOH RI WKH &RXQFLO 'LUHFWLYH LQ DFFRU
GDQFH ZLWK WKH JHQHULF VWDQGDUGV (1 DQG (1 IRU (0& GLUHFWLYH DQG WKH VWDQGDUGV (1
IRU ORZYROWDJH GLUHFWLYH E\ 6LHPHQV $*
7KH GHYLFH LV GHVLJQHG LQ DFFRUGDQFH ZLWK WKH LQWHUQDWLRQDO VWDQGDUGV RI ,(& DQG WKH *HUPDQ VWDQ
GDUGV ',1 SDUW FRUUHVSRQGLQJ WR 9'( SDUW
&*&
6' 9 &RQWHQWV
&RQWHQWV
,QWURGXFWLRQ
$SSOLFDWLRQ
)HDWXUHV
,PSOHPHQWHG IXQFWLRQV
'HVLJQ
$UUDQJHPHQWV
'LPHQVLRQV
2UGHULQJ GDWD
7HFKQLFDO 'DWD
*HQHUDO GDWD
,QSXWVRXWSXWV
(OHFWULFDO WHVWV
0HFKDQLFDO VWUHVV WHVWV
&OLPDWLF VWUHVV WHVWV
6HUYLFH FRQGLWLRQV
'HVLJQ
&XUUHQW FRPSDULVRQ SURWHFWLRQ
([WHUQDO ORFDO DQG WUDQVIHU WULS
(PHUJHQF\ RYHUFXUUHQW WLPH SURWHFWLRQ
7KHUPDO RYHUORDG SURWHFWLRQ
$QFLOODU\ IXQFWLRQV
0HWKRG RI RSHUDWLRQ
2SHUDWLRQ RI FRPSOHWH XQLW
&XUUHQW FRPSDULVRQ SURWHFWLRQ
0DWFKLQJ RI PHDVXUHG YDOXHV
&RPSDULVRQ RI PHDVXUHG YDOXHV
7UDQVPLVVLRQ RI GDWD WR WKH RSSRVLWH OLQH HQG
([WHUQDO ORFDO DQG WUDQVIHU WULS
([WHUQDO ORFDO WULS
7UDQVIHU WULS
(PHUJHQF\ RYHUFXUUHQW WLPH SURWHFWLRQ
7KHUPDO RYHUORDG SURWHFWLRQ
&LUFXLW EUHDNHU WULS WHVW
&*&
6' 9 &RQWHQWV
,QVWDOODWLRQ LQVWUXFWLRQV
8QSDFNLQJ DQG UHSDFNLQJ
3UHSDUDWLRQV
0RXQWLQJ DQG FRQQHFWLRQV
0RGHO 6'44%444 IRU SDQHO VXUIDFH PRXQWLQJ
0RGHO 6'44&444 IRU SDQHO IOXVK PRXQWLQJ RU 6'44(444 IRU FXELFOH LQVWDOODWLRQ
2SWLFDO ILEUH OLQN IRU SURWHFWLRQ GDWD
&KHFNLQJ WKH UDWHG GDWD
&RQWURO GF YROWDJH RI ELQDU\ LQSXWV
,QVHUWLQJ WKH EDFNXS EDWWHU\
&KHFNLQJ WKH SURWHFWLRQ GDWD WUDQVPLVVLRQ OLQN
&KHFNLQJ WKH WUDQVPLVVLRQ OLQN WR /6$
&RQQHFWLRQV
&KHFNLQJ WKH FRQQHFWLRQV
&*&
6' 9 &RQWHQWV
2SHUDWLQJ LQVWUXFWLRQV
6DIHW\ SUHFDXWLRQV
$QQXQFLDWLRQV
,QWURGXFWLRQ
2SHUDWLRQDO DQQXQFLDWLRQV DGGUHVV EORFN
)DXOW DQQXQFLDWLRQV DGGUHVV EORFNV WR
&LUFXLW EUHDNHU RSHUDWLRQ VWDWLVWLFV DGGUHVV EORFN
5HDGRXW RI RSHUDWLRQDO PHDVXUHG YDOXHV DGGUHVV EORFNV WR
6WDWLVWLFV DERXW GDWD WUDQVPLVVLRQ IDXOWV DGGUHVV EORFN
&*&
6' 9 &RQWHQWV
5HSDLUV
6WRUDJH
$SSHQGL[
127(
7KLV LQVWUXFWLRQ PDQXDO GRHV QRW SXUSRUW WR FRYHU DOO 7KH FRQWHQWV RI WKLV LQVWUXFWLRQ PDQXDO VKDOO QRW EH
GHWDLOV LQ HTXLSPHQW QRU WR SURYLGH IRU HYHU\ SRVVL FRPH SDUW QRU PRGLI\ DQ\ SULRU RU H[LVWLQJ DJUHH
EOH FRQWLQJHQF\ WR EH PHW LQ FRQQHFWLRQ ZLWK LQVWDO PHQW FRPPLWPHQW RU UHODWLRQVKLS 7KH VDOHV FRQ
ODWLRQ RSHUDWLRQ RU PDLQWHQDQFH WUDFW FRQWDLQV WKH HQWLUH REOLJDWLRQV RI 6LHPHQV 7KH
ZDUUDQW\ FRQWDLQHG LQ WKH FRQWUDFW EHWZHHQ WKH SDU
6KRXOG IXUWKHU LQIRUPDWLRQ EH GHVLUHG RU VKRXOG SDU
WLFXODU SUREOHPV DULVH ZKLFK DUH QRW FRYHUHG VXIIL WLHV LV WKH VROH ZDUUDQW\ RI 6LHPHQV $Q\ VWDWHPHQWV
FLHQWO\ IRU WKH SXUFKDVHU
V SXUSRVH WKH PDWWHU FRQWDLQHG KHUHLQ GR QRW FUHDWH QHZ ZDUUDQWLHV QRU
VKRXOG EH UHIHUUHG WR WKH ORFDO 6LHPHQV VDOHV RIILFH PRGLI\ WKH H[LVWLQJ ZDUUDQW\
&*&
6' 9 ,QWURGXFWLRQ
,QWURGXFWLRQ
$SSOLFDWLRQ
7KH QXPHULFDO FXUUHQW FRPSDULVRQ SURWHFWLRQ 6LQFH WKH FRPSDULVRQ SURWHFWLRQ GRHV QRW GLVFRQ
6' LV D IDVW DQG VHOHFWLYH VKRUWFLUFXLW SURWHF QHFW IDXOWV RXWVLGH WKH SURWHFWHG ]RQH DQ DGGLWLRQDO
WLRQ IRU FDEOHV DQG RYHUKHDG OLQHV 6LQFH WKH FRP WLPHJUDGHG SURWHFWLRQ PXVW EH LQVWDOOHG DW DW OHDVW
SDULVRQ RI WKH PHDVXUHG GDWD LV SHUIRUPHG LQGLYLGX RQH HQG RI WKH OLQH WR VHUYH DV VXSHULPSRVHG EDFN
DOO\ SHU SKDVH WKH WUHDWPHQW RI WKH QHWZRUN QHXWUDO XS SURWHFWLRQ
LV ZLWKRXW LPSRUWDQFH DV ORQJ DV WKH VKRUWFLUFXLW
FXUUHQW LV VXIILFLHQWO\ KLJK IRU WKH SURWHFWLRQ WR SLFN ,Q FDVHV ZKHUH D WUDQVIRUPHU LV GLUHFWO\ FRQQHFWHG
XS LH ZLWKRXW D FLUFXLW EUHDNHU WR D FDEOH RU WR DQ RYHU
KHDG OLQH FXUUHQW WUDQVIRUPHUV VKRXOG EH LQVWDOOHG
,W LV SDUWLFXODUO\ VXLWHG WR VKRUW OLQHV ZKHUH IRU H[
DW WKH FRQQHFWLRQ SRLQW DQG WKH 6' VKRXOG RQO\
DPSOH WKH ILUVW ]RQH RI D GLVWDQFH SURWHFWLRQ FDQQRW
EH XVHG DV OLQH SURWHFWLRQ 6LQFH WKH OLQH FRPSDUL
EH VHW VXIILFLHQWO\ VKRUW ,W FDQ EH XVHG ZLWK OLQHV
VRQ SURWHFWLRQ LV QRW VXLWDEOH IRU WKH LQFOXVLRQ RI D
GRZQ WR DQ\ OHQJWK 2QH VHW RI FXUUHQW WUDQVIRUPHUV
WUDQVIRUPHU LQ WKH SURWHFWHG ]RQH WKH WUDQVIRUPHU
LV UHTXLUHG DW HDFK HQG RI WKH OLQH 9ROWDJH WUDQVIRUP
HUV DUH QRW UHTXLUHG PXVW EH HTXLSSHG ZLWK D WUDQVIRUPHU GLIIHUHQWLDO SUR
WHFWLRQ HJ 87
$Q HVVHQWLDO DGYDQWDJH RI WKH FXUUHQW FRPSDULVRQ
SURWHFWLRQ LV LWV DELOLW\ WR LQLWLDWH WKH LPPHGLDWH GLV $ WKHUPDO RYHUORDG SURWHFWLRQ LV LQWHJUDWHG IRU XVH
FRQQHFWLRQ RI DQ\ VKRUWFLUFXLW DW DQ\ ORFDWLRQ LQ WKH RQ FDEOHV
SURWHFWHG ]RQH 7KH FXUUHQW WUDQVIRUPHUV DW HDFK
HQG VHSDUDWH WKH SURWHFWHG ]RQH IURP WKH UHVW RI WKH 7KURXJKRXW D IDXOW LQ WKH QHWZRUN WKH PDJQLWXGHV RI
QHWZRUN 7KLV SUHFLVH ]RQH FXWRII LV WKH UHDVRQ IRU WKH LQVWDQWDQHRXV YDOXHV DUH VWRUHG IRU D SHULRG RI
WKH DEVROXWH VHOHFWLYLW\ RI WKH FRPSDULVRQ SURWHFWLRQ PD[ VHFRQGV DW +] DQG DUH DYDLODEOH IRU VXE
SULQFLSOH 7KLV HOLPLQDWHV WKH QHHG WR GHOD\ WKH WULS VHTXHQW IDXOW DQDO\VLV )DXOW LQFHSWLRQ LV WDJJHG ZLWK
VLJQDO ZKLFK LV QHFHVVDU\ ZLWK WLPHJUDGHG SURWHF WKH UHDO WLPH SURYLGHG WKH LQWHUQDO UHDO WLPH FORFN LV
WLRQ DYDLODEOH
7KH FXUUHQW FRPSDULVRQ SURWHFWLRQ V\VWHP UHTXLUHV &RQWLQXRXV PRQLWRULQJ RI WKH PHDVXUHG YDOXHV SHU
WKH LQVWDOODWLRQ RI RQH 6' RU 6' XQLW DW PLWV UDSLG DQQXQFLDWLRQ RI DQ\ IDXOW LQ WKH PHDVXULQJ
HDFK HQG RI WKH OLQH 7KH GDWD H[FKDQJH UHTXLUHG IRU WUDQVIRUPHU FLUFXLWV &RQWLQXRXV SODXVLELOLW\ PRQL
WKH LQWHUDFWLRQ RI ERWK XQLWV LV SHUIRUPHG E\ GLJLWDO WRULQJ RI WKH LQWHUQDO PHDVXUHG YDOXH SURFHVVLQJ FLU
VLJQDOV YLD DQ LQWHUIDFH DQG D GDWD OLQN )RU WKLV RSWL FXLWV DQG PRQLWRULQJ RI WKH DX[LOLDU\ YROWDJHV WR HQ
FDO ILEUHV DUH UHFRPPHQGHG 6LQFH IDXOWIUHH GDWD VXUH WKDW WKH\ UHPDLQ ZLWKLQ WROHUDQFH DUH REYLRXVO\
WUDQVPLVVLRQ LV D SUHUHTXLVLWH IRU WKH FRUUHFW IXQF
LQKHUHQW IHDWXUHV
WLRQLQJ RI WKH SURWHFWLRQ V\VWHP LW LV FRQWLQXRXVO\
VXSHUYLVHG ZLWKLQ WKH UHOD\
6HULDO LQWHUIDFHV DOORZ FRPSUHKHQVLYH FRPPXQLFD
,I GDWD WUDQVPLVVLRQ IDLOV RU LI IDXOW\ GDWD DUH UH WLRQ ZLWK RWKHU GLJLWDO FRQWURO DQG VWRUDJH GHYLFHV
FHLYHG WKH UHOD\ ZLOO VZLWFK RYHU DXWRPDWLFDOO\ WR DQ RSWLRQDO )RU GDWD WUDQVPLVVLRQ D VWDQGDUGL]HG
HPHUJHQF\ PRGH 'XULQJ WKLV HPHUJHQF\ SHULRG SURWRFRO LQ DFFRUGDQFH ZLWK 9'(:=9(, DQG ,(&
WKH UHOD\ RSHUDWHV DV DQ RYHUFXUUHQW WLPH SURWHFWLRQ LV XVHG DV ZHOO DV DFFRUGLQJ WR ',1
ZKLFK FDQ EH XVHG DV D GHILQLWH WLPH RU LQYHUVH WLPH 7KH GHYLFH FDQ WKHUHIRUH EH LQFRUSRUDWHG LQ
RYHUFXUUHQW SURWHFWLRQ /RFDOL]HG 6XEVWDWLRQ $XWRPDWLRQ QHWZRUNV /6$
&*&
6' 9 ,QWURGXFWLRQ
6'
6WDWLRQ
6'
6WDWLRQ
)LJXUH &XUUHQW FRPSDULVRQ SURWHFWLRQ IRU OLQHV DQG FDEOHV 6' VFKHPH
3URFHVVRU V\VWHP ZLWK SRZHUIXO ELW PLFUR &XUUHQW FRPSDULVRQ SURWHFWLRQ
SURFHVVRU
SKDVHVHJUHJDWHG PHDVXUHPHQW WKXV SLFNXS
FRPSOHWH GLJLWDO PHDVXUHG YDOXH SURFHVVLQJ DQG VHQVLWLYLW\ LQGHSHQGHQW RI WKH W\SH RI IDXOW
FRQWURO IURP GDWD DFTXLVLWLRQ DQG GLJLWL]LQJ RI WKH
PHDVXUHG YDOXHV XS WR WKH WULS DQG FORVH GHFL DGMXVWDEOH VWHDG\ VWDWH SLFNXS OHYHO WRJHWKHU
VLRQV IRU WKH FLUFXLW EUHDNHUV ZLWK KLJK G\QDPLF VHQVLWLYLW\
FRPSOHWH JDOYDQLF DQG UHOLDEOH VHSDUDWLRQ RI WKH LQVHQVLWLYH WR GF FRPSRQHQWV DQG WUDQVIRUPD
LQWHUQDO SURFHVVLQJ FLUFXLWV IURP WKH PHDVXUH WLRQ HUURUV RI FXUUHQW WUDQVIRUPHUV
PHQW FRQWURO DQG VXSSO\ FLUFXLWV RI WKH V\VWHP
ZLWK VFUHHQHG DQDORJ LQSXW WUDQVGXFHUV ELQDU\ LQVHQVLWLYH WR LQUXVK DQG FKDUJLQJ FXUUHQWV DV ZHOO
LQSXW DQG RXWSXW PRGXOHV DQG GF FRQYHUWHU DV WR KLJKIUHTXHQF\ WUDQVLHQWV
FDOFXODWLRQ RI RSHUDWLRQDO PHDVXUHG YDOXHV DQG KLJK VWDELOLW\ HYHQ ZLWK GLIIHULQJ FXUUHQW WUDQV
LQGLFDWLRQ RQ WKH IURQW GLVSOD\ IRUPHU VDWXUDWLRQ
VLPSOH VHWWLQJ DQG RSHUDWLRQ XVLQJ WKH LQWHJUDWHG GDWD H[FKDQJH ZLWK RSSRVLWH VWDWLRQ YLD RSWLFDO
RSHUDWLRQ SDQHO RU D FRQQHFWHG SHUVRQDO FRPSXW ILEUH IRU GDWD WUDQVPLVVLRQ
HU ZLWK PHQXJXLGHG VRIWZDUH
FRQWLQXRXV VXSHUYLVLRQ RI GDWD OLQN
VWRUDJH RI IDXOW GDWD GXULQJ D IDXOW IRU IDXOW UHFRUG
LQJ &LUFXLW EUHDNHU LQWHUWULSSLQJ DQG WULS VLJQDO WUDQV
IHU SRVVLEOH
FRPPXQLFDWLRQ ZLWK FHQWUDO FRQWURO DQG VWRUDJH
GHYLFHV YLD VHULDO LQWHUIDFHV LV SRVVLEOH ZLWK FRQ (PHUJHQF\ RYHUFXUUHQW WLPH SURWHFWLRQ
QHFWLRQ RI RSWLFDO ILEUH RSWLRQDO
GXULQJ IDXOW\ GDWD WUDQVPLVVLRQ RSWLRQDOO\ GHILQLWH
WLPH RU LQYHUVH WLPH RYHUFXUUHQW SURWHFWLRQ
FRQWLQXRXV PRQLWRULQJ RI WKH PHDVXUHG YDOXHV
DQG WKH KDUGZDUH DQG VRIWZDUH RI WKH UHOD\
,QWHJUDWHG WKHUPDO RYHUORDG SURWHFWLRQ
&*&
6' 9 'HVLJQ
'HVLJQ
$UUDQJHPHQWV
$OO SURWHFWLRQ IXQFWLRQV LQFOXGLQJ GFGF FRQYHUWHU 6'4 4&444 LQ KRXVLQJ ;3 IRU
DUH DFFRPPRGDWHG RQ RQH SOXJLQ PRGXOH RI SDQHO IOXVK PRXQWLQJ RU 6'4 4(444 IRU
'RXEOH (XURSD )RUPDW 7KLV PRGXOH LV LQVWDOOHG LQ D FXELFOH LQVWDOODWLRQ
KRXVLQJ ;3 7ZR GLIIHUHQW W\SHV RI KRXVLQJV FDQ
EH GHOLYHUHG 7KH KRXVLQJ KDV IXOO VKHHWPHWDO FRYHUV DV ZHOO
DV D UHPRYDEOH IURQW FRYHU ZLWK WUDQVSDUHQW SODV
6'4 4%444 LQ KRXVLQJ ;3 IRU WLF ZLQGRZ
SDQHO VXUIDFH PRXQWLQJ
3ODVWLF JXLGH UDLOV DUH EXLOW LQ IRU WKH VXSSRUW RI
7KH KRXVLQJ KDV IXOO VKHHWPHWDO FRYHUV DV ZHOO SOXJLQ PRGXOHV 1H[W WR WKH JXLGH UDLO DW WKH ERW
DV D UHPRYDEOH IURQW FRYHU ZLWK WUDQVSDUHQW SODV WRP RQ WKH OHIWKDQG VLGH RI WKH PRGXOH D FRQWDFW
WLF ZLQGRZ DUHD ZKLFK LV HOHFWULFDOO\ FRQQHFWHG WR WKH KRXV
LQJ LV LQVWDOOHG WR PDWH ZLWK WKH HDUWKLQJ VSULQJ RI
3ODVWLF JXLGH UDLOV DUH EXLOW LQ IRU WKH VXSSRUW RI WKH PRGXOH &RQQHFWLRQ WR HDUWK LV PDGH EHIRUH
SOXJLQ PRGXOHV 1H[W WR WKH JXLGH UDLO DW WKH ERW WKH SOXJV PDNH FRQWDFW (DUWKLQJ VFUHZV KDYH
WRP RQ WKH OHIWKDQG VLGH RI WKH PRGXOH D FRQWDFW EHHQ SURYLGHG RQ WKH UHDU ZDOO RI WKH KRXVLQJ
DUHD ZKLFK LV HOHFWULFDOO\ FRQQHFWHG WR WKH KRXV
LQJ LV LQVWDOOHG WR PDWH ZLWK WKH HDUWKLQJ VSULQJ RI $OO H[WHUQDO VLJQDOV DUH FRQQHFWHG WR FRQQHFWRU
WKH PRGXOH &RQQHFWLRQ WR HDUWK LV PDGH EHIRUH PRGXOHV ZKLFK DUH PRXQWHG RQ WKH UHDU FRYHU
WKH SOXJV PDNH FRQWDFW (DUWKLQJ VFUHZV KDYH RYHU FXWRXWV )RU HDFK HOHFWULFDO FRQQHFWLRQ RQH
EHHQ SURYLGHG RQ WKH OHIW KDQG VLGH RI WKH KRXV VFUHZHG WHUPLQDO DQG RQH SDUDOOHO VQDSLQ WHUPL
LQJ $GGLWLRQDOO\ WHUPLQDO LV FRQQHFWHG WR WKH QDO DUH SURYLGHG )RU ILHOG ZLULQJ WKH XVH RI WKH
FDVH VFUHZHG WHUPLQDOV LV UHFRPPHQGHG VQDSLQ FRQ
QHFWLRQ UHTXLUHV VSHFLDO WRROV
$OO H[WHUQDO VLJQDOV DUH FRQQHFWHG WR VFUHZHG
WHUPLQDOV ZKLFK DUH DUUDQJHG RYHU FXWRXWV RQ WKH 7KH KHDY\ GXW\ FXUUHQW SOXJ FRQQHFWRUV SURYLGH
WRS DQG ERWWRP FRYHUV 7KH WHUPLQDOV DUH QXP DXWRPDWLF VKRUWLQJ RI WKH FW FLUFXLWV ZKHQHYHU
EHUHG FRQVHFXWLYHO\ IURP OHIW WR ULJKW DW WKH ERW WKH PRGXOHV DUH ZLWKGUDZQ 7KLV GRHV QRW UHOHDVH
WRP DQG WRS IURP WKH FDUH WR EH WDNHQ ZKHQ FW VHFRQGDU\ FLU
FXLWV DUH FRQFHUQHG :LWK GLIIHUHQWLDO SURWHFWLRQ
7KH KHDY\ GXW\ FXUUHQW SOXJ FRQQHFWRUV SURYLGH UHOD\V WULS PD\ RFFXU ZKHQ PRGXOHV DUH ZLWK
DXWRPDWLF VKRUWLQJ RI WKH FW FLUFXLWV ZKHQHYHU GUDZQ RU LQVHUWHG
WKH PRGXOHV DUH ZLWKGUDZQ 7KLV GRHV QRW UHOHDVH
IURP WKH FDUH WR EH WDNHQ ZKHQ FW VHFRQGDU\ FLU )RU SURWHFWLRQ GDWD WUDQVPLVVLRQ WR WKH RSSRVLWH
FXLWV DUH FRQFHUQHG :LWK GLIIHUHQWLDO SURWHFWLRQ OLQH HQG D IXUWKHU VHULDO LQWHUIDFH LV SURYLGHG RSWL
UHOD\V WULS PD\ RFFXU ZKHQ PRGXOHV DUH ZLWK FDO ILEUH RU 956 &
GUDZQ RU LQVHUWHG
)RU WKH RSWLRQDO LQWHUIDFH WR D FHQWUDO FRQWURO DQG
)RU SURWHFWLRQ GDWD WUDQVPLVVLRQ WR WKH RSSRVLWH VWRUDJH XQLW 6'4444444& D PRGXOH
OLQH HQG D IXUWKHU VHULDO LQWHUIDFH LV SURYLGHG RSWL ZLWK )60$ FRQQHFWRUV LV SURYLGHG
FDO ILEUH RU 956 &
7KH SOXJ PRGXOHV DUH ODEHOOHG DFFRUGLQJ WR WKHLU
)RU WKH RSWLRQDO LQWHUIDFH WR D FHQWUDO FRQWURO DQG PRXQWLQJ SRVLWLRQ E\ PHDQV RI D JULG V\VWHP HJ
VWRUDJH XQLW DQ DGGLWLRQDO FRXSOLQJ IDFLOLW\ KDV $ 7KH LQGLYLGXDO FRQQHFWLRQV ZLWKLQ D PRGXOH
EHHQ SURYLGHG )RU RSWLFDO ILEUH FRQQHFWLRQ PRG DUH QXPEHUHG FRQVHFXWLYHO\ IURP OHIW WR ULJKW
HO 6'4444444& WZR )60$ FRQQHF ZKHQ YLHZHG IURP WKH UHDU HJ $ UHIHU )LJ
WRUV KDYH EHHQ SURYLGHG XUH
7KH GHJUHH RI SURWHFWLRQ IRU WKH KRXVLQJ LV ,3 'HJUHH RI SURWHFWLRQ IRU WKH KRXVLQJ LV ,3 IRU
IRU WKH WHUPLQDOV ,3 )RU GLPHQVLRQV SOHDVH UH FXELFOH LQVWDOODWLRQ ,3 IRU WKH WHUPLQDOV ,3
IHU WR )LJXUH )RU GLPHQVLRQV SOHDVH UHIHU WR )LJXUH
&*&
6' 9 'HVLJQ
% $
9ROWDJH FRQQHFWRU +HDY\ FXUUHQW FRQQHFWRU
HJ % HJ $
$
KRUL]RQWDO SRVLWLRQ
YHUWLFDO SRVLWLRQ
FRQVHFXWLYH FRQQHFWLRQ QXPEHU
% $
)LJXUH &RQQHFWLRQ SOXJV UHDU YLHZ KRXVLQJ IRU IOXVK PRXQWLQJ H[DPSOH
&*&
6' 9 'HVLJQ
'LPHQVLRQV
)LJXUHV DQG VKRZ WKH GLPHQVLRQV RI WKH YDULRXV W\SHV RI KRXVLQJV DYDLODEOH
(DUWKLQJ WHUPLQDO
'LPHQVLRQV LQ PP
)LJXUH 'LPHQVLRQV IRU KRXVLQJ ;3 IRU SDQHO VXUIDFH PRXQWLQJ
&*&
6' 9 'HVLJQ
% $
)XUWKHU FRQQHFWRUV
6FUHZHG WHUPLQDO IRU PD[ PP
7ZLQ VSULQJ FULPS FRQQHFWRU LQ SDUDOOHO IRU
PD[ PP
3DQHO FXWRXW
2SWLFDO ILEUH FRQQHFWRUV
LQWHJUDWHG )60$ FRQQHFWRU
ZLWK FHUDPLF SRVW
HJ IRU JODVV ILEUH XP
)LJXUH 'LPHQVLRQV IRU KRXVLQJ ;3 IRU SDQHO IOXVK PRXQWLQJ RU FXELFOH LQVWDOODWLRQ
&*&
6' 9 'HVLJQ
1XPHULFDO &XUUHQW &RPSDULVRQ
3URWHFWLRQ 5HOD\ 6' $ $
$ +]
$ +]
$X[LOLDU\ YROWDJH
9 GF
9 GF
9 GF
&RQVWUXFWLRQ
&*&
6' 9 7HFKQLFDO GDWD
7HFKQLFDO GDWD
,QSXWVRXWSXWV
0HDVXULQJ FLUFXLWV
5DWHG FXUUHQW ,1 $ RU $
3RZHU FRQVXPSWLRQ FXUUHQW SDWK DW ,1 $ DSSUR[ 9$ SHU SKDVH DQG HDUWK FXUUHQW
FXUUHQW SDWK DW ,1 $ DSSUR[ 9$ SHU SKDVH DQG HDUWK FXUUHQW
$X[LOLDU\ YROWDJH
6LJQDO FRQWDFWV
6LJQDODODUP UHOD\V
&RQWDFW SHU UHOD\V &2
6ZLWFKLQJ FDSDFLW\0$.(%5($. :9$
6ZLWFKLQJ YROWDJH 9
3HUPLVVLEOH FXUUHQW $
&*&
6' 9 7HFKQLFDO GDWD
%LQDU\ LQSXWV
1XPEHU
6HULDO LQWHUIDFHV
&RQQHFWLRQ RSWLFDO ILEUH LQWHJUDWHG )60$ FRQQHFWRU IRU GLUHFW RSWLFDO
ILEUH FRQQHFWLRQ ZLWK FHUDPLF SRVW
HJ JODVV ILEUH NP
IRU IOXVK PRXQWHG KRXVLQJ DW WKH UHDU
IRU VXUIDFH PRXQWHG KRXVLQJ RQ WKH ERWWRP FRYHU
2SWLFDO ZDYH OHQJWK QP
3HUPLVVLEOH OLQH DWWHQXDWLRQ PD[ G%
7UDQVPLVVLRQ GLVWDQFH PD[ NP
1RUPDO VLJQDO SRVLWLRQ UHFRQQHFWDEOH IDFWRU\ VHWWLQJ lOLJKW RIIl
&*&
6' 9 7HFKQLFDO GDWD
,QVXODWLRQ WHVWV
,PSXOVH YROWDJH WHVW W\SH WHVW N9 SHDN NV - SRVLWLYH
DOO FLUFXLWV FODVV ,,, DQG QHJDWLYH VKRWV DW LQWHUYDOV RI V
5DGLRIUHTXHQF\ HOHFWURPDJQHWLF ILHOG 9P 0+] WR 0+] $0 N+]
DPSOLWXGH PRGXODWHG ,(& FODVV ,,,
5DGLRIUHTXHQF\ HOHFWURPDJQHWLF ILHOG SXOVH 9P 0+] UHSHWLWLRQ IUHTXHQF\ +]
PRGXODWHG ,(& (19 FODVV ,,, GXW\ F\FOH
&*&
6' 9 7HFKQLFDO GDWD
UHFRPPHQGHG WHPSHUDWXUH GXULQJ VHUYLFH & WR & ! & GHFUHDVHG
SHUPLVVLEOH WHPSHUDWXUH GXULQJ VHUYLFH & WR & GLVSOD\ FRQWUDVW
&*&
6' 9 7HFKQLFDO GDWD
:H UHFRPPHQG WKDW DOO XQLWV DUH LQVWDOOHG VXFK WKDW WKH\ DUH QRW VXEMHFWHG WR GLUHFW VXQOLJKW QRU WR ODUJH WHP
SHUDWXUH IOXFWXDWLRQV ZKLFK PD\ JLYH ULVH WR FRQGHQVDWLRQ
7KH UHOD\ LV GHVLJQHG IRU XVH LQ LQGXVWULDO HQYLURQ QRUPDOO\ QHFHVVDU\ IRU VXEVWDWLRQV RI ORZHU YROW
PHQW IRU LQVWDOODWLRQ LQ VWDQGDUG UHOD\ URRPV DQG DJHV
FRPSDUWPHQWV VR WKDW ZLWK SURSHU LQVWDOODWLRQ HOHF
WURPDJQHWLF FRPSDWLELOLW\ (0& LV HQVXUHG 7KH ,W LV QRW SHUPLVVLEOH WR ZLWKGUDZ RU LQVHUW LQGLYLGX
IROORZLQJ VKRXOG DOVR EH KHHGHG DO PRGXOHV XQGHU YROWDJH ,Q WKH ZLWKGUDZQ FRQGL
WLRQ VRPH FRPSRQHQWV DUH HOHFWURVWDWLFDOO\ HQ
$OO FRQWDFWRUV DQG UHOD\V ZKLFK RSHUDWH LQ WKH GDQJHUHG GXULQJ KDQGOLQJ WKH VWDQGDUGV IRU
VDPH FXELFOH RU RQ WKH VDPH UHOD\ SDQHO DV WKH HOHFWURVWDWLFDOO\ HQGDQJHUHG FRPSRQHQWV PXVW
GLJLWDO SURWHFWLRQ HTXLSPHQW VKRXOG DV D UXOH EH EH REVHUYHG 7KH PRGXOHV DUH QRW HQGDQJHUHG
ILWWHG ZLWK VXLWDEOH VSLNH TXHQFKLQJ HOHPHQWV ZKHQ SOXJJHG LQ
$OO H[WHUQDO FRQQHFWLRQ OHDGV LQ VXEVWDWLRQV IURP :$51,1* 7KH UHOD\ LV QRW GHVLJQHG IRU XVH LQ UHVL
N9 XSZDUGV VKRXOG EH VFUHHQHG ZLWK D GHQWLDO FRPPHUFLDO RU OLJKWLQGXVWULDO HQYLURQPHQW
VFUHHQ FDSDEOH RI FDUU\LQJ SRZHU FXUUHQWV DQG DV GHILQHG LQ (1
HDUWKHG DW ERWK VLGHV 1R VSHFLDO PHDVXUHV DUH
'HVLJQ
:HLJKW PDVV
LQ KRXVLQJ IRU VXUIDFH PRXQWLQJ DSSUR[ NJ
LQ KRXVLQJ IRU IOXVK PRXQWLQJ DSSUR[ NJ
&*&
6' 9 7HFKQLFDO GDWD
6HWWLQJ UDQJHVVWHSV
7LPHV
7ROHUDQFHV RI SLFNXS OLPLWV VWHDG\ VWDWH RI VKRXOGEH YDOXH k ,1 ZLWK VLQJOH
HQGHG LQIHHG
,QIOXHQFH YDULDEOHV
$X[LOLDU\ YROWDJH LQ UDQJH
{ 8+8+1 { {
7HPSHUDWXUH LQ UDQJH
E& { JDPE { E& { .
&*&
6' 9 7HFKQLFDO GDWD
,E ',E
,1 ,1
75,3
VWHDG\VWDWH
6WDWLRQ E
6WDWE 75,3
G\QDPLF
75,3
VWHDG\VWDWH ',
6WDWLRQ D D
6WDWLRQ D ,1
75,3 6WDWLRQ D ,D
VWHDG\VWDWH ,1
6WDWLRQ D
75,3 6WDWLRQ E
G\QDPLF
&KDUDFWHULVWLF
GXULQJ
75,3 KHDOWK\
VWHDG\VWDWH RSHUDWLRQ
6WDWLRQ E
&*&
6' 9 7HFKQLFDO GDWD
6HWWLQJ UDQJHVVWHSV
7ROHUDQFHV RU PV
2SHUDWLQJ WLPHV
6HWWLQJ UDQJHVVWHSV
7ROHUDQFHV RU PV
2SHUDWLQJ WLPHV
&*&
6' 9 7HFKQLFDO GDWD
&KDUDFWHULVWLFV
3LFNXS7LPHV
RYHUFXUUHQW VWDJH SKDVHV IRU GHILQLWH WLPH ,!,1 WR VWHSV
GHOD\ WLPH 7,! V WR V VWHSV V
RU * VWDJH LQHIIHFWLYH
HDUWK FXUUHQW VWDJH IRU GHILQLWH WLPH ,(!,1 WR VWHSV
GHOD\ WLPH 7,(! V WR V VWHSV V
RU * VWDJH LQHIIHFWLYH
RYHUFXUUHQW VWDJH SKDVHV IRU LQYHUVH WLPH ,S,1 WR VWHSV
WLPH PXOWLSOLHU 7S WR VWHSV
HDUWK FXUUHQW VWDJH IRU LQYHUVH WLPH ,(S,1 WR VWHSV
WLPH PXOWLSOLHU 7(S WR VWHSV
WLPH WROHUDQFHV
IRU GHILQLWH WLPH VWDJHV RI VHW YDOXH RU PV
IRU LQYHUVH WLPH VWDJHV { PV IRU { ,,(S {
{ 7(SV {
&*&
6' 9 7HFKQLFDO GDWD
S
7 >V@ S
7 >V@
,, 3 ,, 3
7 S 7 S
1RUPDO LQYHUVH W
k >V@ 9HU\ LQYHUVH W k >V@
S
,,
S
,,
W>V@
W WULSSLQJ WLPH
7 S VHW WLPH GHOD\
, HDUWK IDXOW FXUUHQW
S
, VHW HDUWK IDXOW SLFNXS YDOXH
S
7 >V@
S
7 FRUUHVSRQGV WR WKH
,, 3
1RWH )RU HDUWK IDXOWV UHDG
7 S (S LQVWHDG RI ,S DQG
,
([WUHPHO\ LQYHUVH W
k >V@ 7(S LQVWHDG RI 7S
S
,,
&*&
6' 9 7HFKQLFDO GDWD
6HWWLQJ UDQJHVVWHSV
5HVHW UDWLRV
33WULS DSSUR[
33ZDUQ DSSUR[
,,ZDUQ DSSUR[
7ROHUDQFHV
UHIHUULQJ WR Ni ,1
UHIHUULQJ WR WULS WLPH V
&*&
6' 9 7HFKQLFDO GDWD
WPLQ WPLQ
3DUDPHWHU 3DUDPHWHU
VHWWLQJ YDOXH VHWWLQJ YDOXH
WLPH FRQVWDQW WLPH FRQVWDQW
UPLQ UPLQ
,N k ,1 ,N k ,1
, N , 1 , N , , SUH N ,
W U OQ W U OQ 1 1
, N , 1 , N ,1
IRU SUHORDG
)LJXUH 7ULS WLPH FKDUDFWHULVWLF RI RYHUORDG )LJXUH 7ULS WLPH FKDUDFWHULVWLF RI RYHUORDG
SURWHFWLRQ ZLWKRXW SUHORDG SURWHFWLRQ ZLWK SUHORDG
&*&
6' 9 7HFKQLFDO GDWD
2SHUDWLRQDO FXUUHQW YDOXHV ,/ ,/ ,/ ,( RI ORFDO OLQH HQG
,/ ,/ ,/ ,( RI UHPRWH OLQH HQG
LQ $ SULPDU\ DQG RI ,1
0HDVXUHPHQW UDQJH WR ,1
7ROHUDQFH RI UHVSHFWLYH UDWHG YDOXH
6WRUDJH RI DQQXQFLDWLRQV RI WKH ODVW HLJKW IDXOW HYHQWV WKUHH RI ZKLFK FDQ EH UHDG RXW LQ WKH GLVSOD\
&*&
6' 9 0HWKRG RI RSHUDWLRQ
0HWKRG RI RSHUDWLRQ
7KH QXPHULFDO FXUUHQW FRPSDULVRQ SURWHFWLRQ UHOD\ WLRQ 0( WUDQVIRUP WKH FXUUHQWV IURP WKH PHDVXUH
6' LV HTXLSSHG ZLWK D SRZHUIXO DQG SURYHQ PHQW WUDQVIRUPHUV RI WKH VZLWFKJHDU DQG PDWFK
ELW PLFURSURFHVVRU 7KLV SURYLGHV IXOO\ GLJLWDO WKHP WR WKH LQWHUQDO SURFHVVLQJ OHYHO RI WKH XQLW
SURFHVVLQJ RI DOO IXQFWLRQV IURP GDWD DFTXLVLWLRQ RI $SDUW IURP WKH JDOYDQLF DQG ORZFDSDFLWLYH LVRODWLRQ
PHDVXUHG YDOXHV WR WKH WULS VLJQDOV IRU WKH FLUFXLW SURYLGHG E\ WKH LQSXW WUDQVIRUPHUV ILOWHUV DUH SUR
EUHDNHUV YLGHG IRU WKH VXSSUHVVLRQ RI LQWHUIHUHQFH 7KH ILOWHUV
KDYH EHHQ RSWLPL]HG ZLWK UHJDUG WR EDQGZLGWK DQG
)LJXUH VKRZV WKH EDVH VWUXFWXUH RI WKH XQLW SURFHVVLQJ VSHHG WR VXLW WKH PHDVXUHG YDOXH SUR
FHVVLQJ 7KH PDWFKHG DQDORJ YDOXHV DUH WKHQ
7KH WUDQVGXFHUV RI WKH PHDVXUHG YDOXH LQSXW VHF SDVVHG WR WKH DQDORJ LQSXW VHFWLRQ $(
0( $(
/ / /
¬ /&' GLVSOD\
[ FKDUDFWHUV
%ORFNHG
XQLW IDXOW\ DODUP
6HUYLFH
VLJQDOV
FDQ EH PDUVKDOOHG
N&
/(' FDQ
EH PDUVKDOOHG
/('
&: 5HVHW [
5 WULS FRPPDQGV
RSHUDWRU FDQ EH PDUVKDOOHG
SDQHO )
'$ k *
06 -< 1 (
VHULDO
LQWHUIDFH WR UHPRWH OLQH HQG
ELQDU\ LQSXWV
FDQ EH
PDUVKDOOHG VHULDO FHQWUDO FRQWURO VWDWLRQ
LQWHUIDFH
SRZHU VHULDO
VXSSO\ LQWHUIDFH SHUVRQDO FRPSXWHU
&*&
6' 9 0HWKRG RI RSHUDWLRQ
7KH DQDORJ LQSXW VHFWLRQ $( FRQWDLQV LQSXW DPSOLIL LQWR WKH SURWHFWLRQ IURP WKLV SDQHO UHIHU WR 6HFWLRQ
HUV VDPSOH DQG KROG HOHPHQWV IRU HDFK LQSXW DQD 8VLQJ WKLV SDQHO WKH SDUDPHWHUV FDQ EH UH
ORJWRGLJLWDO FRQYHUWHUV DQG PHPRU\ FLUFXLWV IRU WKH FDOOHG DQG WKH UHOHYDQW GDWD IRU WKH HYDOXDWLRQ RI D
GDWD WUDQVIHU WR WKH PLFURSURFHVVRU IDXOW FDQ EH UHDG RXW DIWHU D IDXOW KDV RFFXUUHG UHIHU
WR 6HFWLRQ 7KH GLDORJ ZLWK WKH UHOD\ FDQ EH FDU
$SDUW IURP FRQWURO DQG VXSHUYLVLRQ RI WKH PHDVXUHG ULHG RXW DOWHUQDWLYHO\ YLD WKH VHULDO LQWHUIDFH LQ WKH
YDOXHV WKH PLFURSURFHVVRU SURFHVVHV WKH DFWXDO IURQW SODWH E\ PHDQV RI DQ RSHUDWRU SDQHO RU D SHU
SURWHFWLYH IXQFWLRQV 7KHVH LQFOXGH LQ SDUWLFXODU VRQDO FRPSXWHU
ILOWHULQJ DQG IRUPDWLRQ RI WKH PHDVXUHG TXDQWLWLHV 9LD D VHFRQG VHULDO LQWHUIDFH WKH FRPSDULVRQ GDWD
WR IRUP WKH FRPSDULVRQ GDWD DUH WUDQVPLWWHG WR WKH UHOD\ DW WKH UHPRWH OLQH HQG
)RU WKLV VHFRQG LQWHUIDFH RSWLFDO ILEUH FRQQHFWLRQV
IRUPXODWLRQ RI WKH FRPSDULVRQ GDWD SURWRFRO DUH UHFRPPHQGHG ,Q FHUWDLQ FDVHV GDWD FDEOH
WUDQVPLVVLRQ LV SRVVLEOH WKLV LQWHUIDFH LV WKHQ LVR
FKHFNLQJ RI WKH UHFHLYHG GDWD SURWRFRO ODWHG DQG WKXV VDWLVILHV WKH UHTXLUHPHQWV IRU H[WHUQDO
VLJQDOV LH LVRODWLRQ DQG LQWHUIHUHQFH VXSSUHVVLRQ
FRPSDULVRQ RI ORFDO GDWD DQG UHFHLYHG GDWD
FRPSO\ ZLWK WKH UHTXLUHPHQWV DFFRUGLQJ WR ,(&
FDOFXODWLRQ RI UPV YDOXHV IRU RYHUORDG GHWHFWLRQ DQG 9'( SDUW UHIHU WR 6HFWLRQ
2UGHULQJ GDWD 7KH LVRODWHG LQWHUIDFH LV PDLQO\ LQ
VFDQQLQJ RI OLPLW YDOXHV DQG WLPH VHTXHQFHV WHQGHG IRU FRXSOLQJ WR D ORFDO HOHFWURRSWLFDO FRQYHU
WHU GHYLFH ZKLFK LV LQVWDOOHG LQ WKH VXEVWDWLRQ
GHFLVLRQ DERXW WULS FRPPDQGV P
VWRUDJH RI PHDVXUHG TXDQWLWLHV GXULQJ D IDXOW IRU 9LD D IXUWKHU VHULDO LQWHUIDFH RSWLRQDO UHIHU WR 6HF
DQDO\VLV WLRQ 2UGHULQJ GDWD IDXOW GDWD FDQ EH WUDQVPLWWHG
WR D FHQWUDO HYDOXDWLRQ XQLW 'XULQJ KHDOWK\ RSHUD
%LQDU\ LQSXWV DQG RXWSXWV WR DQG IURP WKH SURFHVVRU WLRQ PHDVXUHG YDOXHV FDQ DOVR EH WUDQVPLWWHG HJ
DUH FKDQQHOOHG YLD WKH LQSXWRXWSXW HOHPHQWV )URP WKH PHDVXUHG FXUUHQWV DW WKH SRLQW RI LQVWDOODWLRQ
WKHVH WKH SURFHVVRU UHFHLYHV LQIRUPDWLRQ IURP WKH 7KLV LQWHUIDFH LV VXLWDEOH IRU RSWLFDO ILEUH FRQQHFWLRQ
VZLWFKJHDU HJ UHPRWH UHVHWWLQJ RU IURP RWKHU
HTXLSPHQW HJ EORFNLQJ VLJQDOV 2XWSXWV LQFOXGH $ SRZHU VXSSO\ XQLW SURYLGHV WKH DX[LOLDU\ VXSSO\ RQ
LQ SDUWLFXODU WULS FRPPDQGV WR WKH FLUFXLW EUHDNHUV WKH YDULRXV YROWDJH OHYHOV WR WKH GHVFULEHG IXQFWLRQDO
VLJQDOV IRU UHPRWH VLJQDOOLQJ RI LPSRUWDQW HYHQWV DQG XQLWV 9 LV XVHG IRU WKH UHOD\ RXWSXWV 7KH DQDORJ
FRQGLWLRQV DV ZHOO DV YLVXDO LQGLFDWRUV /('V DQG LQSXW UHTXLUHV 9 ZKHUHDV WKH SURFHVVRU DQG LWV
DQ DOSKDQXPHULFDO GLVSOD\ RQ WKH IURQW LPPHGLDWH SHULSKHUDOV DUH VXSSOLHG ZLWK 9
7UDQVLHQW IDLOXUHV LQ WKH VXSSO\ YROWDJH XS WR PV
$Q LQWHJUDWHG PHPEUDQH NH\ERDUG LQ FRQQHFWLRQ ZKLFK PD\ RFFXU GXULQJ VKRUWFLUFXLWV LQ WKH GF
ZLWK D EXLOWLQ DOSKDQXPHULFDO /&' GLVSOD\ HQDEOHV VXSSO\ V\VWHP RI WKH SODQW DUH EULGJHG E\ D GF YROW
FRPPXQLFDWLRQ ZLWK WKH XQLW $OO RSHUDWLRQDO GDWD DJH VWRUDJH HOHPHQW UDWHG DX[LOLDU\ VXSSO\ YROWDJH
VXFK DV VHWWLQJ YDOXHV SODQW GDWD HWF DUH HQWHUHG ! 9
&*&
6' 9 0HWKRG RI RSHUDWLRQ
7KH OLQH SURWHFWLRQ RSHUDWHV DFFRUGLQJ WR WKH FRP &RPSDULVRQ RI PHDVXUHG YDOXHV
SDULVRQ SULQFLSOH (DFK SKDVH FXUUHQW DW HDFK HQG RI
WKH SURWHFWHG OLQH LV UHTXLUHG 7KH GDWD WR EH FRP
&RPSDULVRQ LV SHUIRUPHG VHSDUDWHO\ IRU HDFK LQGL
SDUHG PXVW EH WUDQVPLWWHG IURP RQH HQG RI WKH OLQH YLGXDO SKDVH
WR WKH RWKHU HQG DQG YLFH YHUVD 7KH FRPSDULVRQ DQG
WKXV WKH UHVXOWLQJ WULS GHFLVLRQ IRU WKH FLUFXLW EUHDN 7KH GLJLWL]HG FXUUHQWV DUH ILOWHUHG LQ RUGHU WR VXS
HUV LV PDGH LQGLYLGXDOO\ IRU HDFK HQG RI WKH OLQH SUHVV GF FRPSRQHQWV DQG KLJKHU KDUPRQLFV 7KH
ILOWHU DOJRULWKPV XVHG DUH SDUWLFXODUO\ RSWLPL]HG ZLWK
7KH FXUUHQW FRPSDULVRQ SURWHFWLRQ V\VWHP FRP
UHJDUG WR IUHTXHQF\ DQG WLPH FKDUDFWHULVWLF WR VXLW
SULVHV WKH 6' XQLWV WR EH LQVWDOOHG DW HDFK HQG RI WKH WDVNV RI WKH 6'
WKH OLQH DQG WKH VLJQDO WUDQVPLVVLRQ OLQN EHWZHHQ WKH
XQLWV 6' 9 FDQ RSHUDWH ZLWK D 6' 9 XQLW $IWHU ILOWHULQJ WKH LQVWDQWDQHRXV YDOXHV RI WKH FXU
DW WKH RWKHU OLQH HQG $GGLWLRQDOO\ LW LV SRVVLEOH WR OLQN
UHQWV DUH FRPSDUHG ZLWK WKH VWRUHG LQVWDQWDQHRXV
6' 9 ZLWK UHOD\V RI WKH IRUPHU YHUVLRQ 6'
YDOXHV PHDVXUHG WZR SHULRGV HDUOLHU ,I KHUHE\ D VHW
9 G\QDPLF WKUHVKROG LV H[FHHGHG WKHQ WKH SURWHFWLRQ
SLFNV XS 7KH SRODULW\ RI WKH FXUUHQW FKDQJH LV WUDQV
PLWWHG WR WKH RSSRVLWH HQG RI WKH OLQH 7KH LQIRUPD
WLRQ LV HYDOXDWHG DW HLWKHU HQG RI WKH OLQH VXFK WKDW D
GHILQLWH GLIIHUHQWLDWLRQ FDQ EH PDGH EHWZHHQ ORDG
0DWFKLQJ RI PHDVXUHG YDOXHV MXPSV H[WHUQDO VKRUWFLUFXLWV DQG LQWHUQDO VKRUWFLU
FXLWV
7KH PHDVXUHG FXUUHQWV DUH IHG WR WKH XQLW SHU SKDVH
YLD LQSXW WUDQVIRUPHUV LQ WKH FXUUHQW LQSXW VHFWLRQ ,I WKH VKRUWFLUFXLW FXUUHQW H[FHHGV D IXUWKHU VWHDG\
7KH LQSXWV DUH JDOYDQLFDOO\ LVRODWHG IURP HDFK RWKHU VWDWH WKUHVKROG WKHQ WKH SURWHFWLRQ SLFNV XS 7KH
DQG IURP WKH HOHFWURQLF FLUFXLWU\ 7KLV DOORZV WKH VWDU SRODULW\ RI WKH FXUUHQWV LV WUDQVPLWWHG DQG FRPSDUHG
SRLQW WR EH IRUPHG RXWVLGH WKH XQLW RU WR LQFOXGH IXU DW ERWK HQGV RI WKH OLQH
WKHU GHYLFHV LQ WKH FXUUHQW FLUFXLW
,I WKH FRPSDULVRQ UHFRJQL]HV D GHILQLWH VKRUWFLUFXLW
,I WKH FXUUHQW WUDQVIRUPHUV
VHFRQGDU\ UDWLQJ LV ,1 RQ WKH SURWHFWHG OLQH WKH WULS UHOD\V DUH HQHUJL]HG ,Q
$ DW RQH HQG RI WKH OLQH DQG ,1 $ DW WKH RWKHU RUGHU WR HQVXUH UHOLDEOH WULSSLQJ DW ERWK HQGV RI WKH
HQG RI WKH OLQH WKHQ WKH $ PRGHO 6'4 PXVW EH OLQH HYHQ ZLWK GLIIHUHQW FLUFXLW EUHDNHU RSHUDWLQJ
XVHG IRU RQH HQG DQG WKH $ PRGHO 6'4 IRU WKH WLPHV D WULS VLJQDO RQFH LQLWLDWHG LV PDLQWDLQHG IRU D
RWKHU HQG UHVSHFWLYHO\ ,I WKH FXUUHQW WUDQVIRUPHUV PLQLPXP DGMXVWDEOH SHULRG
KDYH GHYLDWLQJ SULPDU\ UDWHG FXUUHQWV WKHQ PDWFKLQJ
FDQ EH SHUIRUPHG QXPHULFDOO\ LQ WKH UHOD\ ZLWKLQ 7KH LQIRUPDWLRQ H[FKDQJH EHWZHHQ WKH WZR XQLWV
VSHFLILF OLPLWDWLRQV SURYLGHG WKH FXUUHQW WUDQVIRUPHU JXDUDQWHHV GLVFRQQHFWLRQ RI WKH VKRUWFLUFXLW FXU
GDWD DUH FRUUHFWO\ HQWHUHG WR WKH XQLW GXULQJ VHWWLQJ UHQW HYHQ ZLWK VLQJOHHQGHG LQIHHG 7KH QRQFRQ
UHIHU WR 6HFWLRQ DQG E\ WDNLQJ WKHVH GHYL WULEXWLQJ OLQH HQG FDQ LQ WKLV FDVH DOVR EH GLVFRQ
DWLRQV LQWR DFFRXQW GXULQJ VHWWLQJ RI WKH WKUHVKROG QHFWHG E\ PHDQV RI DQ LQWHUWULSSLQJ VLJQDO
YDOXHV UHIHU WR 6HFWLRQ ([WHUQDO PDWFKLQJ
WUDQVIRUPHUV DUH WKHUHIRUH QRW QHFHVVDU\ LQ PRVW 'XH WR WKH G\QDPLF WKUHVKROG WKH FRPSDULVRQ SULQ
FDVHV FLSOH LV YHU\ VHQVLWLYH WR VKRUWFLUFXLWV RQ WKH SUR
WHFWHG OLQH )RU H[WHUQDO IDXOWV KRZHYHU LW LV YHU\
7KH VHFRQGDU\ FXUUHQWV RI WKH LQSXW WUDQVIRUPHUV VWDEOH HYHQ ZLWK GLIIHUHQW FXUUHQW WUDQVIRUPHU VDWX
DUH WUDQVIRUPHG LQWR SURSRUWLRQDO YROWDJHV YLD VKXQW UDWLRQ OHYHOV DW ERWK OLQH HQGV 7KH H[WUDRUGLQDULO\
UHVLVWRUV DQG WKHQ FRQYHUWHG IRU IXUWKHU SURFHVVLQJ KLJK VWDELOLW\ LV LOOXVWUDWHG LQ WKH WULS FKDUDFWHULVWLFV LQ
LQWR QXPHULFDO YDOXHV E\ PHDQV RI WKH DQDORJGLJLWDO 6HFWLRQ (YHQ DW VPDOO RYHUFXUUHQWV WKH FKDUDF
FRQYHUWHUV WHULVWLFV WXUQ DZD\ IURP WKH FKDUDFWHULVWLF GXULQJ
KHDOWK\ RSHUDWLRQ
&*&
6' 9 0HWKRG RI RSHUDWLRQ
7KH FRPSDULVRQ SULQFLSOH UHTXLUHV D PHDVXUHPHQW GHOD\HG E\ WKH VLJQDO WUDQVPLVVLRQ WLPH EHIRUH WKH\
XQLW DW HDFK OLQH HQG ZKLFK FRPSDUHV WKH PHDVXUHG DUH SURFHVVHG WRJHWKHU ZLWK WKH VLJQDOV UHFHLYHG
YDOXHV IURP ERWK HQGV 6HFXUH DQG IDXOWIUHH GDWD IURP WKH RSSRVLWH OLQH HQG 7KH VLJQDO WUDQVPLVVLRQ
WUDQVPLVVLRQ LV WKHUHIRUH D PDQGDWRU\ SUHUHTXLVLWH WLPH FDQ EH PHDVXUHG E\ WKH UHOD\ LWVHOI GXULQJ FRP
IRU WKH UHOLDELOLW\ RI WKH SURWHFWLRQ V\VWHP &RQWLQX PLVVLRQLQJ $GGLWLRQDOO\ LW LV SRVVLEOH WKDW WKH UHOD\
RXV PRQLWRULQJ RI WKH VLJQDOV LV WKHUHIRUH DQ LQWHJUDO FKHFNV WKH WUDQVPLVVLRQ WLPH GXULQJ RSHUDWLRQ DQG
IXQFWLRQ RI WKH 6' 7KH GDWD UHFHLYHG DUH FRUUHFWV LW DXWRPDWLFDOO\ ZKHQ QHFHVVDU\
FKHFNHG VHYHUDO WLPHV DV WR WKHLU FRUUHFWQHVV EHIRUH
HYDOXDWLRQ 2YHUIXQFWLRQLQJ RI WKH XQLW GXH WR IDXOW\ )RU WUDQVPLVVLRQ RI WKH GDWD WUDQVPLVVLRQ PHGLD DUH
GDWD LV WKHUHIRUH SUDFWLFDOO\ H[FOXGHG ,I WKH GDWD VXLWDEOH ZKLFK IXOILO WKH UHTXLUHPHQWV RI WKH LQWHU
WUDQVPLVVLRQ IDLOV RU LI LQFRUUHFW GDWD DUH FRQWLQXRXV IDFH 3UHUHTXLVLWHV IRU VXLWDELOLW\ DUH PDLQO\ WKH FD
O\ EHLQJ UHFHLYHG WKHQ DQ DODUP LV LQLWLDWHG DIWHU D VHW SDELOLW\ RI WUDQVPLWWLQJ DW %DXG DV ZHOO DV
WLPH GHOD\ NHHSLQJ WKH WROHUDQFHV IRU GDPSLQJ DQG FKDUDFWHU
GLVWRUWLRQ UHIHU DOVR WR 6HFWLRQ XQGHU 7HFKQLFDO
7UDQVPLVVLRQ RI GDWD LV SHUIRUPHG DV\QFKURQRXV GDWD *HQHUDOO\ RSWLFDO ILEUH LV UHFRPPHQGHG UHIHU
DFFRUGLQJ WR 956 & ,Q RUGHU WR DFKLHYH WKH WR 7DEOH IRU H[DPSOHV 7KH PRGHO ZLWK HOHFWULFDO
KLJK WUDQVPLVVLRQ VHFXULW\ UHTXLUHG WKH WUDQVPLV 9 56 & LQWHUIDFH LV LQWHQGHG IRU FRQQHFWLRQ
VLRQ SURWRFROV DUH GHVLJQHG IRU D +DPPLQJ GLVWDQFH RI D HOHFWURRSWLFDO FRQYHUWHU RYHU VKRUW GLVWDQFHV
G QRW IRU WUDQVPLVVLRQ WR WKH UHPRWH OLQH HQG 'HSHQ
GHQW RI WKH RUGHUHG PRGHO UHIHU WR 6HFWLRQ 2U
7KH WUDQVPLVVLRQ SURWRFRO SHUPLWV DSDUW IURP WKH GHULQJ GDWD FRQQHFWLRQ PRGXOHV IRU GLUHFW RSWLFDO
WUDQVPLVVLRQ RI SURWHFWLRQ FRPSDULVRQ GDWD WKH ILEUH FRQQHFWRUV DUH SURYLGHG DW WKH KRXVLQJ 8S WR
WUDQVPLVVLRQ RI IXUWKHU LQIRUPDWLRQ %HVLGHV DQ LQWHU DSSUR[LPDWHO\ NLORPHWHUV GLVWDQFH JODVV ILEUH
WULSSLQJ VLJQDO D GLUHFW UHPRWH WULS VLJQDO LV SRVVLEOH FDEOHV ZLWK FHUDPLF SRVW DQG QP RSWLFDO ZDYH
DV ZHOO DV WUDQVPLVVLRQ RI PHDVXUHG YDOXHV DQG XVHU OHQJWK FDQ EH FRQQHFWHG GLUHFWO\ 0RGHOV ZLWK
GHILQDEOH VLJQDOV RU ELQDU\ PHVVDJHV QP RSWLFDO ZDYH OHQJWK DUH VXLWDEOH IRU DSSUR[LPDWH
O\ NP WR NP GLVWDQFH /RQJHU GLVWDQFHV UH
7KH HQFRGLQJ WUDQVPLVVLRQ DQG GHFRGLQJ RI GDWD TXLUH WKH WKH XVH RI DQ RSWLFDO ILEUH WUDQVPLVVLRQ XQLW
UHTXLUHV WLPH ZKLFK FDQQRW EH QHJOHFWHG +RZHYHU ZLWK 3&0 WUDQVPLVVLRQ HJ 95 RU 3&0 XQLW
LQ RUGHU WR EH DEOH WR FRPSDUH LQVWDQWDQHRXV YDOXHV ZKLFK WKHQ LV VXLWDEOH IRU RWKHU WHOHFRPPXQLFDWLRQ
WKH VLJQDOV RI WKH PHDVXUHPHQW XQLW DW RQH HQG DUH SXUSRVHV
&*&
6' 9 0HWKRG RI RSHUDWLRQ
$Q\ GHVLUHG VLJQDO FDQ EH FRXSOHG LQWR WKH SURFHVV &XUUHQW FRPSDULVRQ SURWHFWLRQ UHOD\ 6' FRP
LQJ RI DQQXQFLDWLRQV DQG WULS FRPPDQGV YLD D ELQDU\ SULVHV DQ LQWHJUDWHG WUDQVIHU WULS IXQFWLRQ 7KLV FDQ
LQSXW RI WKH UHOD\ IURP DQ H[WHUQDO SURWHFWLYH RU VX EH XVHG WR WULS WKH FLUFXLW EUHDNHU DW WKH UHPRWH OLQH
SHUYLVRU\ GHYLFH /LNH WKH LQWHUQDO WULS VLJQDOV LW FDQ HQG E\ D FRPPDQG IURP DQ H[WHUQDO VRXUFH HJ D
EH GHOD\HG DQG JLYHQ WR RQH RU PRUH RI WKH WULS UH EUHDNHU IDLOXUH SURWHFWLRQ RU RWKHU EDFNXS IXQF
OD\V 7KH GHOD\ FDQ IRU H[DPSOH EULGJH RXW ERXQF WLRQV
LQJ SHULRGV RI WKH HQHUJL]LQJ FRQWDFW $ UHVHW GHOD\
FDQ EH VHW LQ RUGHU WR HQVXUH WKDW WKH EUHDNHU LV VDIH 7KH WUDQVIHU WULS FRPPDQG LV HQWHUHG WR WKH UHOD\ YLD
O\ WULSSHG HYHQ LQ FDVH WKH RULJLQDWLQJ VLJQDO LV YHU\ D ELQDU\ LQSXW ,W FDQ EH GHOD\HG EHIRUH LW LV WUDQV
VKRUW PLWWHG HJ WR EULGJH RXW ERXQFLQJ SHULRGV 2QFH
EHLQJ WUDQVPLWWHG LW FDQ EH PDLQWDLQHG IRU D VHWWDEOH
$GGLWLRQDOO\ IRXU DQQXQFLDWLRQV DUH DYDLODEOH ZKLFK SHULRG LQ RUGHU WR HQVXUH WKDW WKH VLJQDO LV VDIHO\
FDQ EH GHILQHG E\ WKH XVHU KLPVHOI 6LJQDOV DQG WUDQVPLWWHG HYHQ LQ FDVH WKH RULJLQDWLQJ VLJQDO LV
PHVVDJHV RI RWKHU GHYLFHV ZKLFK KDYH QR LQWHUIDFHV YHU\ VKRUW
3& RU /6$ LQWHUIDFH FDQ EH LQFOXGHG LQ WKH DQQXQ
FLDWLRQ SURFHVVLQJ RI WKH GHYLFH /LNH WKH LQWHUQDO DQ 7KH UHFHLYHG VLJQDO FDQ HYHQ EH PDLQWDLQHG IRU D
QXQFLDWLRQV WKH\ FDQ EH DOORFDWHG WR VLJQDO UHOD\V VHWWDEOH SHULRG LQ RUGHU WR HQVXUH WKDW WKH EUHDNHU LV
/('V RU WULS UHOD\V RU WUDQVPLWWHG WR WKH IURQW GLV VDIHO\ WULSSHG HYHQ LQ FDVH WKH UHFHLYHG VLJQDO LV YHU\
SOD\ D 3& RU /6$ VKRUW
'R QRW FRQIXVH WKH WUDQVIHU WULS IDFLOLW\ DQG WKH LQWHU
WULS IXQFWLRQ ZKLFK ODWWHU LV LQWHJUDO SDUW RI WKH FRP
SDULVRQ SURWHFWLRQ DV GHVFULEHG LQ 6HFWLRQ
&*&
6' 9 0HWKRG RI RSHUDWLRQ
&*&
6' 9 0HWKRG RI RSHUDWLRQ
1XPHULFDO FXUUHQW FRPSDULVRQ SURWHFWLRQ 6' ,QLWLDWLRQ RI WKH WHVW F\FOH FDQ EH JLYHQ IURP WKH RSHU
DOORZV VLPSOH FKHFNLQJ RI WKH WULSSLQJ FLUFXLW DQG WKH DWRU NH\ERDUG RU YLD WKH IURQW RSHUDWRU LQWHUIDFH 7KH
FLUFXLW EUHDNHU UHOD\ LVVXHV D WKUHHSROH WULS FRPPDQG
3UHUHTXLVLWH IRU WKH VWDUW RI D WHVW F\FOH LV WKDW QR SUR 7KH WHVW VHTXHQFH LV VXSHUYLVHG E\ 6' E\
WHFWLYH IXQFWLRQ KDV SLFNHG XS ,I WKH FLUFXLW EUHDNHU PHDQV RI WKH FLUFXLW EUHDNHU DX[LOLDU\ FRQWDFW SRVL
DX[LOLDU\ FRQWDFWV DGYLVH WKH UHOD\ WKURXJK D ELQDU\ WLRQ SURYLGHG WKH DX[LOLDU\ FRQWDFW LV FRQQHFWHG WR D
LQSXW RI WKH FLUFXLW EUHDNHU SRVLWLRQ WKH WHVW F\FOH ELQDU\ LQSXW ,I WKH EUHDNHU GRHV QRW UHDFW FRUUHFWO\
FDQ RQO\ EH VWDUWHG ZKHQ WKH FLUFXLW EUHDNHU LV WKHQ WKH WHVW VHTXHQFH LV DERUWHG D FRUUHVSRQGLQJ
FORVHG 7KLV DGGLWLRQDO VHFXULW\ IHDWXUH VKRXOG QRW PHVVDJH LV JLYHQ LQ WKH GLVSOD\ RU RQ WKH 3& VFUHHQ
EH RPLWWHG HVSHFLDOO\ ZKHQ DQ H[WHUQDO DXWRUHFOR
VXUH GHYLFH LV LQVWDOOHG 7ULS WHVW FDQ DOVR EH VWDUWHG E\ HQHUJL]DWLRQ RI D
ELQDU\ LQSXW
&*&
6' 9 0HWKRG RI RSHUDWLRQ
7KH DQFLOODU\ IXQFWLRQV RI WKH FXUUHQW FRPSDULVRQ DXWRPDWLFDOO\ RQ RFFXUUHQFH RI D QHZ JHQHUDO
SURWHFWLRQ 6' LQFOXGH SLFNXS VLJQDO
PRQLWRULQJ IXQFWLRQV $ JUHHQ /(' LQGLFDWHV UHDGLQHVV IRU RSHUDWLRQ 7KLV
/(' FDQQRW EH UHVHW DQG UHPDLQV LOOXPLQDWHG ZKHQ
WKH PLFURSURFHVVRU LV ZRUNLQJ FRUUHFWO\ DQG WKH XQLW
LV QRW IDXOW\ 7KH /(' H[WLQJXLVKHV ZKHQ WKH VHOI
FKHFNLQJ IXQFWLRQ RI WKH PLFURSURFHVVRU GHWHFWV D
3URFHVVLQJ RI DQQXQFLDWLRQV IDXOW RU ZKHQ WKH DX[LOLDU\ YROWDJH LV DEVHQW
$IWHU D IDXOW LQ WKH SURWHFWHG REMHFW LQIRUPDWLRQ FRQ :LWK WKH DX[LOLDU\ YROWDJH SUHVHQW EXW ZLWK DQ H[LVW
FHUQLQJ WKH UHVSRQVH RI WKH SURWHFWLYH GHYLFH DQG LQJ LQWHUQDO IDXOW LQ WKH XQLW D UHG /(' LOOXPLQDWHV
NQRZOHGJH RI WKH PHDVXUHG YDOXHV DUH RI LPSRU l%ORFNHGl DQG EORFNV WKH XQLW
WDQFH IRU DQ H[DFW DQDO\VLV RI WKH KLVWRU\ RI WKH IDXOW
)RU WKLV SXUSRVH WKH GHYLFH SURYLGHV DQQXQFLDWLRQ
SURFHVVLQJ ZKLFK LV HIIHFWLYH LQ WKUHH GLUHFWLRQV
,QIRUPDWLRQ RQ WKH GLVSOD\ SDQHO RU WR
D SHUVRQDO FRPSXWHU
,QGLFDWRUV DQG ELQDU\ RXWSXWV (YHQWV DQG FRQGLWLRQV FDQ EH UHDG RII LQ WKH GLVSOD\
VLJQDO UHOD\V RQ WKH IURQW SODWH RI WKH GHYLFH $GGLWLRQDOO\ D SHU
VRQDO FRPSXWHU IRU H[DPSOH FDQ EH FRQQHFWHG YLD
,PSRUWDQW HYHQWV DQG FRQGLWLRQV DUH LQGLFDWHG E\ WKH RSHUDWLRQ LQWHUIDFH DQG DOO WKH LQIRUPDWLRQV FDQ
RSWLFDO LQGLFDWRUV /(' RQ WKH IURQW SODWH 7KH PRG WKHQ EH VHQW WR LW
XOH DOVR FRQWDLQV VLJQDO UHOD\V IRU UHPRWH VLJQDOOLQJ
0RVW RI WKH VLJQDOV DQG LQGLFDWLRQV FDQ EH PDU ,Q WKH TXLHVFHQW VWDWH LH DV ORQJ DV QR QHWZRUN
VKDOOHG LH WKH\ FDQ EH DOORFDWHG PHDQLQJV RWKHU IDXOWV DUH SUHVHQW WKH GLVSOD\ RXWSXWV VHOHFWDEOH RS
WKDQ WKH IDFWRU\ VHWWLQJV ,Q 6HFWLRQ WKH GHOLYHUHG HUDWLQJ LQIRUPDWLRQ XVXDOO\ DQ RSHUDWLRQDO PHD
FRQGLWLRQ DQG WKH PDUVKDOOLQJ IDFLOLWLHV DUH GH VXUHG YDOXH LQ HDFK RI WKH WZR OLQHV ,Q WKH HYHQW RI D
VFULEHG LQ GHWDLO QHWZRUN IDXOW VHOHFWDEOH LQIRUPDWLRQ RQ WKH IDXOW DS
SHDUV LQVWHDG RI WKH RSHUDWLQJ LQIRUPDWLRQ HJ GH
7KH RXWSXW VLJQDO UHOD\V DUH QRW ODWFKHG DQG DXWR WHFWHG SKDVHV DQG HODSVHG WLPH IURP IDXOW GHWHF
PDWLFDOO\ UHVHW DV VRRQ DV WKH RULJLQDWLQJ VLJQDO GLV WLRQ WR WULS FRPPDQG 7KH TXLHVFHQW LQIRUPDWLRQ LV
DSSHDUV 7KH /('V FDQ EH DUUDQJHG WR ODWFK RU WR EH GLVSOD\HG DJDLQ RQFH WKHVH IDXOW DQQXQFLDWLRQV
VHOIUHVHWWLQJ KDYH EHHQ DFNQRZOHGJHG 7KH DFNQRZOHGJHPHQW
LV LGHQWLFDO WR UHVHWWLQJ RI WKH VWRUHG /(' GLVSOD\V DV
7KH PHPRULHV RI WKH /('V FDQ EH VDIH DJDLQVW VXS LQ 6HFWLRQ
SO\ YROWDJH IDLOXUH PRGHOV ZLWK QRQYRODWLOH PHPR
ULHV 7KH\ FDQ EH UHVHW 7KH GHYLFH DOVR SURYLGHV VHYHUDO HYHQW EXIIHUV HJ
IRU RSHUDWLQJ PHVVDJHV FLUFXLW EUHDNHU RSHUDWLRQ
ORFDOO\ E\ RSHUDWLRQ RI WKH UHVHW EXWWRQ RQ WKH
VWDWLVWLFV HWF UHIHU WR 6HFWLRQ ZKLFK DUH VDYHG
UHOD\
DJDLQVW VXSSO\ YROWDJH IDLOXUH E\ D EXIIHU EDWWHU\ LI
UHPRWHO\ E\ HQHUJL]DWLRQ RI WKH UHPRWH UHVHW LQ ILWWHG 7KHVH PHVVDJHV DV ZHOO DV DOO DYDLODEOH RS
SXW HUDWLQJ YDOXHV FDQ EH WUDQVIHUUHG LQWR WKH IURQW GLV
SOD\ DW DQ\ WLPH XVLQJ WKH NH\ERDUG RU WR WKH SHUVRQ
YLD RQH RI WKH LQWHUIDFHV DO FRPSXWHU YLD WKH RSHUDWLQJ LQWHUIDFH
&*&
6' 9 0HWKRG RI RSHUDWLRQ
$IWHU D IDXOW IRU H[DPSOH LPSRUWDQW LQIRUPDWLRQ FRQ 7KH GDWD FDQ EH WUDQVIHUUHG WR D FRQQHFWHG SHUVRQDO
FHUQLQJ LWV KLVWRU\ VXFK DV SLFNXS DQG WULSSLQJ FDQ FRPSXWHU YLD WKH RSHUDWLQJ LQWHUIDFH DW WKH IURQW DQG
EH FDOOHG XS RQ WKH GLVSOD\ RI WKH GHYLFH 7KH IDXOW HYDOXDWHG E\ WKH SURWHFWLRQ GDWD HYDOXDWLRQ SURJUDP
LQFHSWLRQ LV LQGLFDWHG ZLWK WKH DEVROXWH WLPH RI WKH ',*6, 7KH FXUUHQWV DUH UHIHUUHG WR WKHLU PD[LPXP
RSHUDWLQJ V\VWHP SURYLGHG WKLV IHDWXUH LV DYDLODEOH YDOXHV QRUPDOL]HG WR WKHLU UDWHG YDOXHV DQG SUH
7KH VHTXHQFH RI WKH HYHQWV LV WDJJHG ZLWK WKH UHOD SDUHG IRU JUDSKLF YLVXDOL]DWLRQ ,Q DGGLWLRQ VLJQDOV
WLYH WLPH UHIHUUHG WR WKH PRPHQW DW ZKLFK WKH IDXOW FDQ EH PDUNHG DV ELQDU\ WUDFHV HJ l3LFNXSl DQG
GHWHFWRU KDV SLFNHG XS 7KXV WKH HODSVHG WLPH XQWLO l7ULSl
WULSSLQJ LV LQLWLDWHG DQG XQWLO UHVHW FDQ EH UHDG RXW
7KH UHVROXWLRQ LV PV $GGLWLRQDOO\ WKH IDXOW UHFRUG GDWD FDQ EH WUDQVPLWWHG
WR D FRQWURO FHQWUH YLD WKH RSWLRQDO VHULDO V\VWHP LQ
7KH HYHQWV FDQ DOVR EH UHDG RXW ZLWK D SHUVRQDO WHUIDFH (YDOXDWLRQ RI WKH GDWD LV PDGH LQ WKH FRQWURO
FRPSXWHU E\ PHDQV RI WKH DSSURSULDWH SURJUDP FHQWUH XVLQJ DSSURSULDWH VRIWZDUH SURJUDPV 7KH
',*6, 7KLV SURYLGHV WKH FRPIRUW RI D &57 VFUHHQ FXUUHQWV DUH UHIHUUHG WR WKHLU PD[LPXP YDOXHV QRU
DQG PHQXJXLGHG RSHUDWLRQ $GGLWLRQDOO\ WKH GDWD PDOL]HG WR WKHLU UDWHG YDOXHV DQG SUHSDUHG IRU JUDSK
FDQ EH GRFXPHQWHG RQ D SULQWHU RU VWRUHG RQ D LF YLVXDOL]DWLRQ ,Q DGGLWLRQ VLJQDOV FDQ EH PDUNHG
IORSS\ GLVF IRU HYDOXDWLRQ HOVHZKHUH DV ELQDU\ WUDFHV HJ l3LFNXSl DQG l7ULSl
7KH SURWHFWLRQ GHYLFH VWRUHV WKH GDWD RI WKH ODVW :KHQ WKH GDWD DUH WUDQVIHUUHG WR D FHQWUDO XQLW UHDG
HLJKW QHWZRUN IDXOWV LI D QLQWK IDXOW RFFXUV WKH ROGHVW RXW FDQ SURFHHG DXWRPDWLFDOO\ RSWLRQDOO\ DIWHU HDFK
IDXOW LV RYHUZULWWHQ LQ WKH IDXOW PHPRU\ 7KH ODVW WKUHH SLFNXS RI WKH UHOD\ RU DIWHU WULS 7KH IROORZLQJ WKHQ
QHWZRUN IDXOWV FDQ EH UHDG RXW LQ WKH GLVSOD\ DSSOLHV
$ QHWZRUN IDXOW EHJLQV ZLWK WKH ILUVW UHFRJQLWLRQ RI WKH 7KH UHOD\ VLJQDOV WKH DYDLODELOLW\ RI IDXOW UHFRUG
IDXOW E\ SLFNXS RI DQ\ IDXOW GHWHFWRU DQG HQGV ZLWK GDWD
WKH ODVW IDXOW GHWHFWRU UHVHW RI DQ\ SURWHFWLRQ IXQF
WLRQ 7KH GDWD UHPDLQ DYDLODEOH IRU UHFDOO XQWLO WKH\ DUH
RYHUZULWWHQ E\ QHZ GDWD
,QIRUPDWLRQ WR D FHQWUDO XQLW RSWLRQDO $ WUDQVPLVVLRQ LQ SURJUHVV FDQ EH DERUWHG E\ WKH
FHQWUDO XQLW
,Q DGGLWLRQ DOO VWRUHG LQIRUPDWLRQ FDQ EH WUDQVPLWWHG
YLD DQ RSWLFDO ILEUH FRQQHFWRU WR D FRQWURO FHQWUH IRU
H[DPSOH WKH 6,(0(16 /RFDOL]HG 6XEVWDWLRQ $XWR
PDWLRQ 6\VWHP /6$ 7UDQVPLVVLRQ XVHV D VWDQ
GDUGL]HG WUDQVPLVVLRQ SURWRFRO DFFRUGLQJ WR 9'(: 2SHUDWLQJ PHDVXUHPHQWV DQG
=9(, DQG ,(& $OWHUQDWLYHO\ WKH SUR FRQYHUVLRQ
WRFRO LV DFFRUGLQJ WR ',1 VHOHFWDEOH
)RU ORFDO UHFDOO RU WUDQVPLVVLRQ RI GDWD WKH WUXH UPV
YDOXHV RI WKH FXUUHQWV DUH DOZD\V DYDLODEOH DV DUH WKH
FXUUHQW RI WKH UHPRWH HQG $GGLWLRQDOO\ WKH WHPSHUD
WXUH ULVH FDOFXODWHG IURP WKH UPV FXUUHQWV DUH SUHV
'DWD VWRUDJH DQG WUDQVPLVVLRQ HQW
IRU IDXOW UHFRUGLQJ
7KH IROORZLQJ LV YDOLG
7KH LQVWDQWDQHRXV YDOXHV RI WKH PHDVXUHG YDOXHV
,/ ,/ ,/ ,( SKDVH FXUUHQWV RI ORFDO DQG UH
L/ L/ L/ L( PRWH OLQH HQG LQ DPSV SULPDU\
DQG LQ RI UDWHG FXUUHQW
DUH VDPSOHG DW PV LQWHUYDOV IRU +] DQG
VWRUHG LQ D FLUFXODWLQJ VKLIW UHJLVWHU ,Q FDVH RI D IDXOW 33WULS WHPSHUDWXUH ULVH UHODWHG WR WKH WULS
WKH GDWD DUH VWRUHG RYHU D VHOHFWDEOH WLPH SHULRG EXW WHPSHUDWXUH ULVH
PD[ RYHU VHFRQGV 7KH PD[LPXP QXPEHU RI IDXOW
UHFRUGV ZLWKLQ WKLV WLPH SHULRG LV 7KHVH GDWD DUH (YHQ WKH VLJQDO WUDQVPLVVLRQ WLPH DQG WKH FXUUHQW
WKHQ DYDLODEOH IRU IDXOW DQDO\VLV )RU HDFK UHQHZHG SKDVH UHODWLRQVKLS FDQ EH UHFDOOHG XSRQ UHTXHVW
IDXOW HYHQW WKH DFWXDO QHZ IDXOW GDWD DUH VWRUHG ZLWK 7KHVH GDWD DUH SDUWLFXODUO\ XVHIXO GXULQJ FRPPLV
RXW DFNQRZOHGJHPHQW RI WKH ROG GDWD VLRQLQJ UHIHU WR 6HFWLRQ DQG
&*&
6' 9 0HWKRG RI RSHUDWLRQ
,) ,) )DXOW FXUUHQW
,1
+DUGZDUH PRQLWRULQJ 6ORSH
680)DFW,
7KH FRPSOHWH KDUGZDUH LV PRQLWRUHG IRU IDXOWV DQG
LQDGPLVVLEOH IXQFWLRQV IURP WKH PHDVXUHG YDOXH LQ
680,WKUHV
SXWV WR WKH RXWSXW UHOD\V ,Q GHWDLO WKLV LV DFFRP
SOLVKHG E\ PRQLWRULQJ
$Q DGMXVWDEOH IDFWRU N, SDUDPHWHU ,H,SK FDQ EH - )RUPDWLRQ RI WKH PRGXOXV IRU WKH SURJUDP
VHW WR FRUUHFW WKH GLIIHUHQW UDWLRV RI SKDVH DQG PHPRU\ (3520 DQG FRPSDULVRQ RI LW ZLWK D
HDUWK FXUUHQW WUDQVIRUPHUV HJ VXPPDWLRQ WUDQV UHIHUHQFH SURJUDP PRGXOXV VWRUHG WKHUH
IRUPHU ,I WKH UHVLGXDO HDUWK FXUUHQW LV GHULYHG
IURP WKH FXUUHQW WUDQVIRUPHU VWDUSRLQW N, - )RUPDWLRQ RI WKH PRGXOXV RI WKH YDOXHV VWRUHG
680,WKUHV DQG 680)DFW, DUH VHWWLQJ SDUDPH LQ WKH SDUDPHWHU VWRUH ((3520 WKHQ FRP
WHUV 7KH FRPSRQHQW 680)DFW, [ ,PD[ WDNHV LQWR SDULQJ LW ZLWK WKH QHZO\ GHWHUPLQHG PRGXOXV DI
DFFRXQW SHUPLVVLEOH FXUUHQW SURSRUWLRQDO WUDQV WHU HDFK SDUDPHWHU DVVLJQPHQW SURFHVV
&*&
6' 9 0HWKRG RI RSHUDWLRQ
6ORSH
6<0)DFW,
0RQLWRULQJ RI H[WHUQDO PHDVXULQJ
WUDQVIRUPHU FLUFXLWV
,Q KHDOWK\ RSHUDWLRQ LW FDQ EH H[SHFWHG WKDW WKH 7DEOH JLYHV D VXUYH\ RI WKH IXQFWLRQV RI WKH PHD
FXUUHQWV ZLOO EH DSSUR[LPDWHO\ V\PPHWULFDO 7KH VXUHG YDOXH PRQLWRULQJ V\VWHP
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
,QVWDOODWLRQ LQVWUXFWLRQV
:DUQLQJ
7KH VXFFHVVIXO DQG VDIH RSHUDWLRQ RI WKLV GHYLFH LV GHSHQGHQW RQ SURSHU KDQGOLQJ DQG LQVWDOODWLRQ
E\ TXDOLILHG SHUVRQQHO XQGHU REVHUYDQFH RI DOO ZDUQLQJV DQG KLQWV FRQWDLQHG LQ WKLV PDQXDO
,Q SDUWLFXODU WKH JHQHUDO HUHFWLRQ DQG VDIHW\ UHJXODWLRQV HJ ,(& ',1 9'( RU QDWLRQDO VWDQGDUGV
UHJDUGLQJ WKH FRUUHFW XVH RI KRLVWLQJ JHDU PXVW EH REVHUYHG 1RQREVHUYDQFH FDQ UHVXOW LQ GHDWK
SHUVRQDO LQMXU\ RU VXEVWDQWLDO SURSHUW\ GDPDJH
:KHQ GLVSDWFKHG IURP WKH IDFWRU\ WKH HTXLSPHQW LV 7KH RSHUDWLQJ FRQGLWLRQV PXVW DFFRUG ZLWK 9'(
SDFNHG LQ DFFRUGDQFH ZLWK WKH JXLGHOLQHV ODLG GRZQ DQG 9'( SDUW RU FRUUHVSRQG
LQ ,(& ZKLFK VSHFLILHV WKH LPSDFW UHVLV LQJ QDWLRQDO VWDQGDUGV IRU HOHFWULFDO SRZHU LQVWDOOD
WDQFH RI SDFNDJLQJ WLRQV
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
0RGHO 6'4 4%444 IRU SDQHO VXU GDUG VFUHZ 0 DQG WKH HDUWKLQJ FRQWLQXLW\ V\V
IDFH PRXQWLQJ WHP RI WKH SDQHO RU FXELFOH UHFRPPHQGHG
JURXQGLQJ VWUDS ',1 IRUP $ HJ 2UGHU1R
6HFXUH WKH XQLW ZLWK IRXU VFUHZV WR WKH SDQHO )RU RI 0HVVUV 'UXVHLGW 5HPVFKHLG *HUPDQ\
GLPHQVLRQV UHIHU WR )LJXUH
0DNH FRQQHFWLRQV YLD WKH VFUHZHG RU VQDSLQ
&RQQHFW HDUWKLQJ WHUPLQDO 7HUPLQDO RI WKH XQLW WHUPLQDOV RI WKH VRFNHWV RI WKH KRXVLQJ 2EVHUYH
WR WKH SURWHFWLYH HDUWK RI WKH SDQHO ODEHOOLQJ RI WKH LQGLYLGXDO FRQQHFWRU PRGXOHV WR
HQVXUH FRUUHFW ORFDWLRQ REVHUYH WKH PD[ SHUPLV
0DNH D VROLG ORZRKPLF DQG ORZLQGXFWLYH RSHUD VLEOH FRQGXFWRU FURVVVHFWLRQV 7KH XVH RI WKH
WLRQDO HDUWK FRQQHFWLRQ EHWZHHQ WKH HDUWKLQJ VXU VFUHZHG WHUPLQDOV LV UHFRPPHQGHG VQDSLQ FRQ
IDFH DW WKH VLGH RI WKH XQLW XVLQJ DW OHDVW RQH VWDQ QHFWLRQ UHTXLUHV VSHFLDO WRROV DQG PXVW QRW EH
GDUG VFUHZ 0 DQG WKH HDUWKLQJ FRQWLQXLW\ V\V XVHG IRU ILHOG ZLULQJ XQOHVV SURSHU VWUDLQ UHOLHI DQG
WHP RI WKH SDQHO UHFRPPHQGHG JURXQGLQJ VWUDS DQG WKH SHUPLVVLEOH EHQGLQJ UDGLXV DUH RE
',1 IRUP $ HJ 2UGHU1R RI VHUYHG
0HVVUV 'UXVHLGW 5HPVFKHLG *HUPDQ\
7KH VFUHZW\SH WHUPLQDOV FDQ EH XVHG ZLWKRXW
0DNH FRQQHFWLRQV YLD VFUHZHG WHUPLQDOV ZLUH HQG IHUUXOHV 3LQHQG FRQQHFWRUV JHQHUDOO\
PXVW QRW EH XVHG &DUH KDV WR EH WDNHQ IRU D VXIIL
FLHQWO\ ORQJ EDUH ZLUH DSSUR[ PP LQFK
DW OHDVW PP LQFK
0RGHO 6'4 4&444 IRU SDQHO IOXVK
PRXQWLQJ RU 6'4 4(444 IRU FX
ELFOH LQVWDOODWLRQ
2SWLFDO ILEUH OLQN IRU SURWHFWLRQ GDWD
/LIW XS ERWK ODEHOOLQJ VWULSV RQ WKH OLG RI WKH XQLW
DQG UHPRYH FRYHU WR JDLQ DFFHVV WR IRXU KROHV IRU 8QVFUHZ WKH SURWHFWLYH FDSV DW WKH WZR )60$
WKH IL[LQJ VFUHZV FRQQHFWRUV RI WKH GHYLFH
,QVHUW WKH XQLW LQWR WKH SDQHO FXWRXW DQG VHFXUH LW 3OXJ RQ WKH RSWLFDO ILEUH FDEOH WHUPLQDO FDUHIXOO\
ZLWK WKH IL[LQJ VFUHZV )RU GLPHQVLRQV UHIHU WR )LJ REVHUYH WKH GHVLJQDWLRQ RI WUDQVPLWWHU DQG UHFHLY
XUH HU HQG WKH WUDQVPLWWHU WHUPLQDO RI RQH GHYLFH
PXVW EH FRQQHFWHG WR WKH UHFHLYHU WHUPLQDO RI WKH
&RQQHFW HDUWKLQJ VFUHZ RQ WKH UHDU RI WKH XQLW WR RWKHU DQG YLFH YHUVD
WKH SURWHFWLYH HDUWK RI WKH SDQHO RU FXELFOH
7LJKWHQ WKH FDS QXWV ZLWKRXW IRUFH DQG ZLWKRXW
0DNH D VROLG ORZRKPLF DQG ORZLQGXFWLYH RSHUD XVH RI WRROV
WLRQDO HDUWK FRQQHFWLRQ EHWZHHQ WKH HDUWKLQJ VXU
IDFH DW WKH UHDU RI WKH XQLW XVLQJ DW OHDVW RQH VWDQ 2EVHUYH WKH SHUPLVVLEOH EHQGLQJ UDGLXV
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
7KH UDWHG GDWD RI WKH XQLW PXVW EH FKHFNHG DJDLQVW 7KH IROORZLQJ LV YDOLG IRU SURGXFWLRQ VHULHV (( RU ODW
WKH SODQW GDWD 7KLV DSSOLHV LQ SDUWLFXODU WR WKH DX[LO HU
LDU\ YROWDJH DQG WKH UDWHG FXUUHQW RI WKH FXUUHQW
WUDQVIRUPHUV 7DEOH VKRZV WKH DVVLJQPHQW RI WKH SUHVHW
WLQJV RI WKH FRQWURO YROWDJH RI WKH ELQDU\ LQSXWV
,I WKH FXUUHQW WUDQVIRUPHU VHWV DW WKH WZR OLQH HQGV DJDLQVW WKH UDWHG VXSSO\ YROWDJH RI WKH UHOD\ ,I WKH
KDYH GLIIHUHQW VHFRQGDU\ FXUUHQWV WKHQ DOO WKDW PXVW FRQWURO YROWDJH RI D ELQDU\ LQSXW LV RI WKH VDPH
EH FKHFNHG LV WKDW WKH UDWHG VHFRQGDU\ FXUUHQW RI WKH PDJQLWXGH DV WKH VXSSO\ YROWDJH RI WKH UHOD\ QR
UHVSHFWLYH FXUUHQW WUDQVIRUPHUV FRPSOLHV ZLWK WKH PDWFKLQJ LV QHFHVVDU\ (YHQ ZLWK KLJKHU FRQWURO
UDWHG FXUUHQW IR WKH FRQQHFWHG XQLW YROWDJH WKH ELQDU\ LQSXW ZLOO RSHUDWH %XW LW LV DG
YLVDEOH WR ILW D KLJKHU SLFNXS WKUHVKROG WR LQFUHDVH
VWDELOLW\ DJDLQVW VWUD\ YROWDJHV 5HIHU WR 7DEOH
IRU SRVVLELOLWLHV ,I D ELQDU\ LQSXW LV WR EH FRQWUROOHG
&RQWURO GF YROWDJH RI ELQDU\ LQSXWV E\ D ORZHU YROWDJH WKHQ WKH SLFNXS WKUHVKROG
PXVW EH PDWFKHG 2WKHUZLVH LW FDQQRW EH HQHU
:KHQ GHOLYHUHG IURP IDFWRU\ WKH ELQDU\ LQSXWV DUH JL]HG
GHVLJQHG WR RSHUDWH ZLWK D FRQWURO YROWDJH ZKLFK
FRUUHVSRQGV ZLWK WKH UDWHG YROWDJH RI WKH SRZHU
2UGHU FRGH 5DWHG DX[LOLDU\ 3UHVHWWLQJ RI
VXSSO\ RI WKH UHOD\ ,Q RUGHU WR RSWLPL]H WKH RSHUDWLRQ
6'4 YROWDJH UDQJH ELQDU\ LQSXWV
RI WKH LQSXWV WKH\ VKRXOG EH PDWFKHG WR WKH UHDO
FRQWURO YROWDJH ,W GHSHQGV RQ WKH KDUGZDUH VWDWH 44444444 9GF 9GF
SURGXFWLRQ VHULHV RI WKH UHOD\ KRZ WKLV LV FDUULHG 44444444 9GF 9GF
RXW 7KLV VWDWH LV IRXQG RQ WKH QDPH SODWH EHKLQG WKH
44444444 9GF 9GF
FRPSOHWH RUGHU GHVLJQDWLRQ
7KH IROORZLQJ LV YDOLG IRU SURGXFWLRQ VHULHV '' 7DEOH 3UHVHWWLQJ RI FRQWURO YROWDJH IRU
ELQDU\ LQSXWV IRU SURGXFWLRQ VHULHV
7KH ELQDU\ LQSXWV UHDFW RQ FRQWURO GF YROWDJHV LQ (( RU ODWHU
WKH WRWDO YROWDJH UDQJH IURP 9 WR 9 7KH
SLFNXS WKUHVKROG OLHV QHDU 9 ,I WKH UDWHG FRQ
WURO YROWDJH IRU ELQDU\ LQSXWV LV 9 RU KLJKHU LW LV 7DEOH VKRZV WKH VHWWLQJ SRVVLELOLWLHV IRU WKH
DGYLVDEOH WR ILW D KLJKHU SLFNXS WKUHVKROG WR WKHVH ELQDU\ LQSXWV %, WR %, RQ WKH EDVLF SFE RI WKH
LQSXWV WR LQFUHDVH VWDELOLW\ DJDLQVW VWUD\ YROWDJHV EDVLF LQSXWRXWSXW PRGXOH *($ )LJXUH
LQ WKH GF FLUFXLWV VKRZV WKH SULQWHG FLUFXLWV ERDUG YLHZHG IURP WKH
FRPSRQHQW VLGH ZLWK WKH VHWWLQJ SOXJV IRU WKH FRQ
7R ILW D KLJKHU SLFNXS WKUHVKROG RI DSSUR[LPDWHO\ WURO YROWDJH RI WKH ELQDU\ LQSXWV ,W LV YDOLG IRU UHOD\V
9 WR D ELQDU\ LQSXW D VROGHU EULGJH PXVW EH UH IURP SURGXFWLRQ VHULHV (( ,I WKH DFWXDO FRQWURO YROW
PRYHG )LJXUH VKRZV WKH DVVLJQPHQW RI WKHVH DJH LV QRW IRXQG RQ WKH SFE VHOHFW WKH VHWWLQJ IRU
VROGHU EULGJHV DQG WKHLU ORFDWLRQ RQ WKH EDVLF WKH QH[W ORZHU YROWDJH 7KH ILJXUH VKRZV IXUWKHU
SFE RI WKH EDVLF LQSXWRXWSXW PRGXOH *($ SOXJV ZKLFK PXVW QRW EH FKDQJHG
7DEOH &KHFNLQJ IRU FRQWURO YROWDJHV RI ELQDU\ LQSXWV WR RQ WKH EDVLF PRGXOH *($ YDOLG IURP
SURGXFWLRQ VHULHV ((
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
2SHQ KRXVLQJ FRYHU )RU SURGXFWLRQ VHULHV XS WR '' FKHFN WKH VROGHU
EULGJHV DFFRUGLQJ WR )LJXUH UHPRYH EULGJHV
/RRVHQ WKH EDVLF PRGXOH XVLQJ WKH SXOOLQJ DLGV ZKHUH QHFHVVDU\
SURYLGHG DW WKH WRS DQG ERWWRP
)RU SURGXFWLRQ VHULHV IURP (( FKHFN WKH SOXJV
&DXWLRQ DFFRUGLQJ WR )LJXUH
(OHFWURVWDWLF GLVFKDUJHV YLD WKH FRPSR ,QVHUW EDVLF PRGXOH LQWR WKH KRXVLQJ HQVXUH WKDW
QHQW FRQQHFWLRQV WKH 3&% WUDFNV RU WKH WKH UHOHDVLQJ OHYHU LV SXVKHG IXOO\ WR WKH OHIW EHIRUH
FRQQHFWLQJ SLQV RI WKH PRGXOHV PXVW EH WKH PRGXOH LV SUHVVHG LQ
DYRLGHG XQGHU DOO FLUFXPVWDQFHV E\ SUH
YLRXVO\ WRXFKLQJ DQ HDUWKHG PHWDO VXU )LUPO\ SXVK LQ WKH PRGXOH XVLQJ WKH UHOHDVLQJ OH
IDFH
YHU
3XOO RXW EDVLF PRGXOH DQG SODFH RQWR D FRQGXF
WLYH VXUIDFH &ORVH KRXVLQJ FRYHU
7KH GHYLFH DQQXQFLDWLRQV DUH VWRUHG LQ 19 5$0V WKH UHOD\ LV LQVWDOOHG 6HFWLRQ H[SODLQV LQ GHWDLO
$ EDFNXS EDWWHU\ LV DYDLODEOH VR WKDW WKH\ DUH UH KRZ WR UHSODFH WKH EDFNXS EDWWHU\ -RLQ WKLV VHFWLRQ
WDLQHG HYHQ ZLWK D ORQJHU IDLOXUH RI WKH GF VXSSO\ DFFRUGLQJO\ ZKHQ LQVHUWLQJ WKH EDWWHU\ IRU WKH ILUVW
YROWDJH 7KH EDFNXS EDWWHU\ LV DOVR UHTXLUHG IRU WKH WLPH
LQWHUQDO V\VWHP FORFN ZLWK FDOHQGHU WR FRQWLQXH LQ
WKH HYHQW RI D SRZHU VXSSO\ IDLOXUH :KHQ WKH SURGXFWLRQ VHULHV RI WKH UHOD\ LV (( RU ODW
HU WKH EDWWHU\ LV LQVWDOOHG DW GHOLYHU\ VR WKDW QR DFWLYL
7KH EDWWHU\ LV VXSSOLHG VHSDUDWHO\ ZLWK UHOD\V RI SUR WLHV DUH QHFHVVDU\ KHUH
GXFWLRQ VHULHV XS WR '' ,W VKRXOG EH LQVHUWHG EHIRUH
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
; ; ; ; ; ; ; ;
; ; ; ;
; ; ; ;
; ; ; ;
; ; ; ;
; ; ; ;
; ; ; ;
FG FG
9 9 FG
FG 9
9
W GH W W W
XS UND XS XS XS
GH ; GH G GH
QL WD S QL WD QL WHD QL WD
\U UW LV \U UW \U UW \U U
DQ
L VX JX
O3
;
QR
DQ
L VX DQ
L VX DQ
L VXW
% OL % OL % OL % OL
DW , 1 $ QRW SOXJJHG
DW , 1 $ SOXJJHG DV LOOXVWUDWHG
; ; ;
; ; ;
;
;
; ;
;
; ;
)LJXUH 6HWWLQJ SOXJV RQ EDVLF LQSXWRXWSXW PRGXOH *($ IURP SURGXFWLRQ VHULHV ((
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
6LQFH WKH GDWD WUDQVPLVVLRQ OLQN EHWZHHQ WKH XQLWV DW ,I GDWD WUDQVPLVVLRQ EHWZHHQ WKH WZR XQLWV LV E\ GL
HLWKHU HQG RI WKH OLQH IRUPV DQ HVVHQWLDO DQG LQWHJUDO UHFW ZLUH FRQQHFWLRQ WKHQ WKH FRQGXFWRU VFUHHQ DQG
SDUW RI WKH FRPSDULVRQ SURWHFWLRQ V\VWHP WKHVH WKH FRPPRQ RYHUDOO VFUHHQ PXVW EH HDUWKHG DW RQH
FRQQHFWLRQV PXVW DOVR EH FKHFNHG 7KH SURFHGXUH OLQH HQG RQO\ 7KLV SUHYHQWV FLUFXODWLQJ FXUUHQWV IURP
LV KLJKO\ GHSHQGHQW RQ WKH FKRVHQ WUDQVPLVVLRQ PH IORZLQJ YLD WKH VFUHHQ LQ FDVH RI SRWHQWLDO GLIIHU
GLXP DQG WKXV FDQQRW EH GHVFULEHG LQ GHWDLO DW WKLV HQFHV 7KLV FRQQHFWLRQ PRGH LV JHQHUDOO\ QRW UHF
SRLQW ,W LV LPSRUWDQW WR YLVXDOO\ FKHFN WKH DOORFDWLRQ RPPHQGHG EHFDXVH LW FRXOG EH LQIOXHQFHG GXULQJ
RI WKH WUDQVPLWWHU DQG UHFHLYHU FKDQQHOV LQFOXGLQJ OLQH IDXOWV LQ VSLWH RI WKH VFUHHQV :KHQ XVLQJ LW QHY
WKH DVVRFLDWHG IUDPH UHIHUHQFH FRQQHFWLRQV 7KH HUWKHOHVV LW PXVW EH HQVXUHG WKDW WKH ORQJLWXGLQDO
FRQQHFWLRQV DUH PDUNHG LQ V\PSDWK\ ZLWK ,62 YROWDJH ZKLFK LV LQGXFHG LQWR WKH WUDQVPLVVLRQ FDEOH
DQG ',1 GXULQJ VKRUWFLUFXLWV LQ WKH KLJK YROWDJH QHWZRUN
GRHV QRW H[FHHG RI WKH FDEOH WHVW YROWDJH 7KH
XSSHU OLPLW LV 9 ZKLFK FRUUHVSRQGV WR RI
7;' 7UDQVPLW OLQH RI WKH UHVSHFWLYH XQLW
WKH WHVW YROWDJH IRU WKH LQWHUIDFH RI WKH 6' IRU WKH
SURWHFWLRQ VLJQDO WUDQVPLVVLRQ
07 )UDPH UHIHUHQFH IRU WKH WUDQVPLW OLQH
7KH QRUPDO VLJQDO SRVLWLRQ IRU WKH SURWHFWLRQ VLJQDO
5;' 5HFHLYH OLQH RI WKH UHVSHFWLYH XQLW WUDQVPLVVLRQ LV lOLJKW RIIl ,Q PRGHOV IRU QP RSWL
FDO ILEUH WKH QRUPDO VLJQDO SRVLWLRQ FDQ EH FKDQJHG
05 )UDPH UHIHUHQFH IRU WKH UHFHLYH OLQH E\ PHDQV RI D SOXJ MXPSHU ; ZKLFK LV DFFHVVLEOH
ZKHQ WKH SOXJLQ PRGXOH LV UHPRYHG IURP WKH FDVH
6LQFH HDFK FRQQHFWLRQ LV XVHG IRU RQH WUDQVPLVVLRQ 7KH MXPSHU LV VLWXDWHG LQ WKH UHDU DUHD RI WKH XSSHU
GLUHFWLRQ WKH WUDQVPLW FRQQHFWLRQ RI RQH XQLW PXVW SDUW RI WKH FHQWUH 3&% )LJXUH
EH FRQQHFWHG WR WKH UHFHLYH FRQQHFWLRQ RI WKH RWKHU
XQLW DQG YLFH YHUVD
-XPSHU 3RVLWLRQ 1RUPDO VLJQDO SRVLWLRQ
7UDQVPLVVLRQ YLD RSWLFDO ILEUH LV UHFRPPHQGHG ,W LV
; l/LJKW RIIl
SDUWLFXODUO\ LQVHQVLWLYH DJDLQVW GLVWXUEDQFHV DQG DX
; l/LJKW RQl
WRPDWLFDOO\ SURYLGHV JDOYDQLF LVRODWLRQ
,I GDWD ZLUH FRQQHFWLRQ LV XVHG WR D ORFDO RSWLFDO ILEUH ,I RSWLFDO ILEUH WUDQVPLVVLRQ XQLWV DUH XVHG WKHQ WKH\
WUDQVPLVVLRQ GHYLFH WKHQ WKH GDWD FDEOH VFUHHQV DUH PXVW EH FRPPLVVLRQHG DFFRUGLQJ WR WKH UHVSHFWLYH
HDUWKHG DW RQH FDEOH HQG RQO\ RSHUDWLQJ LQVWUXFWLRQV
)RU PRGHOV ZLWK LQWHUIDFH IRU D FHQWUDO GDWD SURFHVV 7KH QRUPDO VLJQDO SRVLWLRQ IRU WKH GDWD WUDQVPLVVLRQ
LQJ VWDWLRQ HJ /6$ WKHVH FRQQHFWLRQV PXVW DOVR LV IDFWRU\ SUHVHW DV lOLJKW RIIl 7KLV FDQ EH FKDQJHG
EH FKHFNHG ,W LV LPSRUWDQW WR YLVXDOO\ FKHFN WKH DOOR E\ PHDQV RI D SOXJ MXPSHU ; ZKLFK LV DFFHVVLEOH
FDWLRQ RI WKH WUDQVPLWWHU DQG UHFHLYHU FKDQQHOV ZKHQ WKH SOXJLQ PRGXOH LV UHPRYHG IURP WKH FDVH
6LQFH HDFK FRQQHFWLRQ LV XVHG IRU RQH WUDQVPLVVLRQ 7KH MXPSHU LV VLWXDWHG LQ WKH XSSHU UHDU DUHD RI WKH
GLUHFWLRQ WKH WUDQVPLW FRQQHFWLRQ RI WKH UHOD\ PXVW FHQWHU ERDUG SRZHU VXSSO\ SFE )LJXUH
EH FRQQHFWHG WR WKH UHFHLYH FRQQHFWLRQ RI WKH FHQ
WUDO XQLW DQG YLFH YHUVD
-XPSHU 3RVLWLRQ 1RUPDO VLJQDO SRVLWLRQ
7UDQVPLVVLRQ YLD RSWLFDO ILEUH LV SDUWLFXODUO\ LQVHQVL
; l/LJKW RIIl
WLYH DJDLQVW GLVWXUEDQFHV DQG DXWRPDWLFDOO\ SUR ; l/LJKW RQl
YLGHV JDOYDQLF LVRODWLRQ 7UDQVPLW DQG UHFHLYH FRQ
QHFWRU DUH GHVLJQDWHG ZLWK WKH V\PEROV IRU
WUDQVPLW RXWSXW DQG IRU UHFHLYH LQSXW
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
; ' ;
; ;
; ;
; ;
; ;
; ;
; ;
; ;
; & ;
; ;
; ;
&RQQHFWLRQV
*HQHUDO DQG FRQQHFWLRQ GLDJUDPV DUH VKRZQ LQ $S 0DWFKLQJ LV SHUIRUPHG DW WKH HQG ZKHUH WKH FXUUHQW
SHQGL[ $ DQG % 7KH PDUVKDOOLQJ SRVVLELOLWLHV RI WKH WUDQVIRUPHUV KDYH WKH ORZHU SULPDU\ FXUUHQW 6LQFH
ELQDU\ LQSXWV DQG RXWSXWV DUH GHVFULEHG LQ 6HFWLRQ WKH FXUUHQW LQSXWV RI WKH 6' DUH JDOYDQLFDOO\ LVR
,I LQ QHWZRUNV ZLWK XQHDUWKHG QHXWUDOV RQO\ WZR ODWHG IURP RQH DQRWKHU DXWRWUDQVIRUPHUV FDQ EH
FXUUHQW WUDQVIRUPHUV DUH DYDLODEOH WKHQ WKH SKDVH XVHG 7KH LQWHUPHGLDWH WUDQVIRUPHU RXWSXW LV WKHQ
ZLWKRXW D FXUUHQW WUDQVIRUPHU UHPDLQV XQFRQQHFWHG EHWWHU XWLOL]HG DQG WKH VPDOOHU PRGHO $0
,Q WKH HYHQW RI D GRXEOH HDUWK IDXOW WKH IRRWSRLQW LQ $$ LV VXIILFLHQW
WKLV SKDVH ZLOO QRW EH GHWHFWHG E\ WKH FRPSDULVRQ
SURWHFWLRQ 7KLV PXVW EH LQ DFFRUGDQFH ZLWK WKH 7KH WUDQVIRUPDWLRQ UDWLR RI WKH LQWHUPHGLDWH WUDQV
GRXEOH HDUWK IDXOW SUHIHUHQFH RI WKH QHWZRUN IRUPHUV LV FDOFXODWHG DV IROORZV
,I WKH FXUUHQW WUDQVIRUPHUV DW ERWK OLQH HQGV KDYH GLI ,1 SULPDU\ IRU WKH KLJKHU UDWHG FXUUHQW
IHUHQW SULPDU\ FXUUHQWV WKHQ FXUUHQW PDWFKLQJ LV 75 ,
,1 SULPDU\ IRU WKH ORZHU UDWHG FXUUHQW
SHUIRUPHG E\ HQWHULQJ WKH FXUUHQW WUDQVIRUPHU GDWD
WR WKH GHYLFH GXULQJ SDUDPHWHUL]DWLRQ UHIHU 6HFWLRQ 7KH WXUQ QXPEHU UDWLR LV WKXV
,I IRU H[FHSWLRQDO UHDVRQV HJ VWURQJO\ GLI
IHULQJ FW UDWLRV PDWFKLQJ LV SHUIRUPHG ZLWK LQWHU 1 ,1 SULPDU\ IRU WKH ORZHU UDWHG FXUUHQW
PHGLDWH FWV WKH IROORZLQJ VKRXOG EH QRWHG 1 ,1 SULPDU\ IRU WKH KLJKHU UDWHG FXUUHQW
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
- $UH WKH FXUUHQW WUDQVIRUPHUV FRUUHFWO\ HDUWKHG" 5HFORVH WKH SURWHFWLYH PFE
V
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
)RU PRVW RSHUDWLRQDO IXQFWLRQV WKH LQSXW RI D FRGH LQLWLDWLRQ RI WHVW SURFHGXUHV
ZRUG LV QHFHVVDU\ 7KLV DSSOLHV IRU DOO HQWULHV YLD WKH
PHPEUDQH NH\ERDUG RU IURQW LQWHUIDFH ZKLFK FRQ 7KH FRGHZRUG LV QRW UHTXLUHG IRU WKH UHDGRXW RI DQ
FHUQ WKH RSHUDWLRQ RQ WKH UHOD\ IRU H[DPSOH QXQFLDWLRQV RSHUDWLQJ GDWD RU IDXOW GDWD RU IRU WKH
UHDGRXW RI VHWWLQJ SDUDPHWHUV 2SHUDWLRQ YLD WKH LQ
FRQILJXUDWLRQ SDUDPHWHUV IRU RSHUDWLRQ ODQJXDJH WHJUDWHG NH\ERDUG LV GHVFULEHG LQ GHWDLO LQ 6HFWLRQ
FRQILJXUDWLRQ RI WKH LQWHUIDFHV DQG WKH GHYLFH
IXQFWLRQV
7R LQGLFDWH DXWKRUL]HG RSHUDWRU XVH SUHVV NH\ &:
DOORFDWLRQ RU PDUVKDOOLQJ RI DQQXQFLDWLRQ VLJQDOV HQWHU WKH VL[ ILJXUH FRGH DQG FRQILUP
ELQDU\ LQSXWV RSWLFDO LQGLFDWLRQV DQG WULS UHOD\V ZLWK ( &RGHZRUG HQWU\ FDQ DOVR EH PDGH UHWUR
VSHFWLYHO\ DIWHU SDJLQJ RU GLUHFW DGGUHVVLQJ WR DQ\
VHWWLQJV IRU IXQFWLRQDO SDUDPHWHUV WKUHVKROGV VHWWLQJ DGGUHVV
IXQFWLRQV
( 1 7 ( 5 & 2 ' ( : 2 5 ' 7KH HQWHUHG FKDUDFWHUV GR QRW DSSHDU LQ WKH GLVSOD\
# # # # # # LQVWHDG RQO\ D V\PERO # DSSHDUV $IWHU FRQILUPDWLRQ
RI WKH FRUUHFW LQSXW ZLWK ( WKH GLVSOD\ UHVSRQGV ZLWK
& : $ & & ( 3 7 ( ' &: $&&(37(' 3UHVV WKH HQWU\ NH\ ( DJDLQ
,I WKH FRGHZRUG LV QRW FRUUHFW WKH GLVSOD\ VKRZV
& 2 ' ( : 2 5 ' : 5 2 1 * &2'(:25' :521* 3UHVVLQJ WKH &: NH\ DOORZV
DQRWKHU DWWHPSW DW FRGHZRUG HQWU\
$GGUHVV EORFNV WR DUH SURYLGHG IRU FRQILJXUD 7KH VLPSOHVW ZD\ RI DUULYLQJ DW WKH EHJLQQLQJ RI WKLV
WLRQ RI WKH VRIWZDUH RSHUDWLQJ V\VWHP 7KHVH VHW FRQILJXUDWLRQ EORFNV LV WR XVH NH\ '$ IROORZHG E\
WLQJV FRQFHUQ WKH RSHUDWLRQ RI WKH UHOD\ FRPPXQL WKH DGGUHVV QXPEHU DQG (17(5 NH\ ( 7KH
FDWLRQ ZLWK H[WHUQDO RSHUDWLQJ DQG SURFHVVLQJ GH DGGUHVV DSSHDUV ZKLFK IRUPV WKH KHDGLQJ RI
YLFHV YLD WKH VHULDO LQWHUIDFHV DQG WKH LQWHUDFWLRQ RI WKH FRQILJXUDWLRQ EORFNV
WKH GHYLFH IXQFWLRQV
7KH GRXEOH DUURZ NH\ Â VZLWFKHV RYHU WR WKH ILUVW NH\ 1 7KH QH[W WH[W FKRLFH WKHQ DSSHDUV DV VKRZQ
FRQILJXUDWLRQ EORFN VHH EHORZ 8VH WKH NH\ WR LQ WKH ER[HV EHORZ 7KH FKRVHQ DOWHUQDWLYH PXVW EH
ILQG WKH QH[W DGGUHVV 7KH GLVSOD\ VKRZV WKH IRXU FRQILUPHG ZLWK HQWHU NH\ (
GLJLW DGGUHVV QXPEHU LH EORFN DQG VHTXHQFH QXP
EHU 7KH WLWOH RI WKH UHTXHVWHG SDUDPHWHU DSSHDUV 7KH VHWWLQJ SURFHGXUH FDQ EH HQGHG DW DQ\ WLPH E\
EHKLQG WKH EDU VHH EHORZ 7KH VHFRQG OLQH RI WKH WKH NH\ FRPELQDWLRQ ) ( LH GHSUHVVLQJ WKH IXQFWLRQ
GLVSOD\ VKRZV WKH WH[W DSSOLFDEOH WR WKH SDUDPHWHU NH\ ) IROORZHG E\ WKH HQWU\ NH\ ( 7KH GLVSOD\ VKRZV
7KH SUHVHQWHG WH[W FDQ EH UHMHFWHG E\ WKH l1Rl WKH TXHVWLRQ l6$9( 1(: 6(77,1*6 "l &RQILUP
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
ZLWK WKH l<HVlNH\ < WKDW WKH QHZ VHWWLQJV VKDOO EH -< LQVWHDG DQRWKHU TXHVWLRQ DSSHDUV l6$9( 1(:
FRPH YDOLG QRZ ,I \RX SUHVV WKH l1RlNH\ 1 LQ 6(77,1*6 "l 1RZ \RX FDQ FRQILUP ZLWK -< RU
VWHDG FRGHZRUG RSHUDWLRQ ZLOO EH DERUWHG LH DOO DO DERUW ZLWK 1 DV DERYH
WHUDWLRQV ZKLFK KDYH EHHQ FKDQJHG VLQFH WKH ODVW
FRGHZRUG HQWU\ DUH ORVW 7KXV HUURQHRXV DOWHUDWLRQV :KHQ RQH H[LWV WKH VHWWLQJ SURJUDP WKH DOWHUHG SD
FDQ EH PDGH LQHIIHFWLYH UDPHWHUV ZKLFK XQWLO WKHQ KDYH EHHQ VWRUHG LQ EXIIHU
VWRUHV DUH SHUPDQHQWO\ VHFXUHG LQ ((3520V DQG
,I RQH WULHV WR OHDYH WKH VHWWLQJ UDQJH IRU WKH FRQILJX SURWHFWHG DJDLQVW SRZHU RXWDJH ,I FRQILJXUDWLRQ SD
UDWLRQ EORFNV LH DGGUHVV EORFNV WR ZLWK NH\V UDPHWHUV KDYH EHHQ FKDQJHG WKH SURFHVVRU V\VWHP
Â Ä WKH GLVSOD\ VKRZV WKH TXHVWLRQ l(1' 2) &2'( ZLOO UHVHW DQG UHVWDUW 'XULQJ UHVWDUW WKH GHYLFH LV
:25' 23(5$7,21 "l 3UHVV WKH l1RlNH\ 1 WR QRW RSHUDWLRQDO
FRQWLQXH FRQILJXUDWLRQ ,I \RX SUHVV WKH l<HVlNH\
2SHUDWLQJ SDUDPHWHUV FDQ EH VHW LQ DGGUHVV EORFN :KHQ WKH UHOD\ LV GHOLYHUHG IURP WKH IDFWRU\ WKH GH
7KLV EORFN DOORZV WKH RSHUDWRU ODQJXDJH WR EH YLFH LV SURJUDPPHG WR JLYH IXQFWLRQ QDPHV DQG RXW
FKDQJHG 7KH GDWH IRUPDW FDQ EH VHOHFWHG 0HV SXWV LQ WKH *HUPDQ ODQJXDJH 7KLV FDQ EH FKDQJHG
VDJHV RQ WKH IURQW GLVSOD\ FDQ EH VHOHFWHG KHUH IRU XQGHU DGGUHVV 7KH RSHUDWRU ODQJXDJHV DYDLO
WKH TXLHVFHQW VWDWH RI WKH XQLW RU DIWHU D IDXOW HYHQW DEOH DW SUHVHQW DUH VKRZQ LQ WKH ER[HV EHORZ 7KH
7R FKDQJH DQ\ RI WKHVH SDUDPHWHUV FRGHZRUG HQWU\ GDWH LV GLVSOD\HG LQ WKH (XURSHDQ IRUPDW ZKHQ WKH
LV QHFHVVDU\ UHOD\ LV GHOLYHUHG
, 1 7 ( * 5 $ 7 ( '
%HJLQQLQJ RI WKH EORFN l,QWHJUDWHG RSHUDWLRQl
2 3 ( 5 $ 7 , 2 1
8 6 ( 1 * / , 6 +
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
)DXOW HYHQW DQQXQFLDWLRQV FDQ EH GLVSOD\HG DIWHU D DUH DFNQRZOHGJHG GXULQJ RSHUDWLRQ ZLWK WKH 5(6(7
IDXOW RQ WKH IURQW 7KHVH FDQ EH FKRVHQ XQGHU DG NH\ RU YLD WKH UHPRWH UHVHW LQSXW RI WKH GHYLFH RU YLD
GUHVVHV DQG 7KH SRVVLEOH PHVVDJHV WKH V\VWHP LQWHUIDFH LI ILWWHG $IWHU DFNQRZOHGJH
FDQ EH VHOHFWHG E\ UHSHDWHGO\ SUHVVLQJ WKH PHQW WKH RSHUDWLRQDO PHVVDJHV RI WKH TXLHVFHQW
l1RlNH\ 1 7KH GHVLUHG PHVVDJH LV FRQILUPHG VWDWH ZLOO EH GLVSOD\HG DJDLQ DV FKRVHQ XQGHU DG
ZLWK WKH HQWHU NH\ ( 7KHVH VSRQWDQHRXV PHVVDJHV GUHVVHV DQG
) $ 8 / 7 , 1 ' , & 6WRUHG /(' LQGLFDWLRQV DQG WKH IDXOW HYHQW PHVVDJHV LQ
WKH GLVSOD\ FDQ EH GLVSOD\HG HLWKHU ZLWK HDFK IDXOW GH
: , 7 + ) $ 8 / 7 ' ( 7 ( & WHFWLRQ RU RQO\ DIWHU WULS FRPPDQG LV JLYHQ 7KLV PRGH
FDQ EH FKDQJHG E\ GHSUHVVLQJ WKH l1RlNH\ 1 DQG
: , 7 + 7 5 , 3 & 2 0 0 FRQILUPHG ZLWK WKH HQWHUNH\ (
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
7KH GHYLFH SURYLGHV VHULDO LQWHUIDFHV RQH 3& LQWHU 7KHVH GDWD DUH HQWHUHG WR WKH UHOD\ LQ DGGUHVV EORFN
IDFH LQ WKH IURQW IRU RSHUDWLRQ E\ PHDQV RI D SHUVRQDO &RGHZRUG LQSXW LV QHFHVVDU\ UHIHU WR 6HFWLRQ
FRPSXWHU DQG GHSHQGHQW RI WKH RUGHUHG PRGHO 7KH GDWD PXVW EH FRRUGLQDWHG ZLWK WKH FRQ
D IXUWKHU V\VWHP LQWHUIDFH IRU FRQQHFWLRQ RI D FHQWUDO QHFWHG GHYLFHV
FRQWURO DQG VWRUDJH XQLW HJ 6LHPHQV /6$
&RPPXQLFDWLRQ YLD WKHVH LQWHUIDFHV UHTXLUHV VRPH $OO DQQXQFLDWLRQV ZKLFK FDQ EH SURFHVVHG E\ WKH
GDWD SUHDUUDQJHPHQWV LGHQWLILFDWLRQ RI WKH UHOD\ /6$ DUH VWRUHG ZLWKLQ WKH GHYLFH LQ D VHSDUDWH WDEOH
WUDQVPLVVLRQ IRUPDW WUDQVPLVVLRQ VSHHG 7KLV LV OLVWHG LQ $SSHQGL[ &
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
$GGUHVVHV WR DUH YDOLG IRU WKH RSHUDWLQJ 3& LQWHUIDFH RQ WKH IURQW RI WKH UHOD\
1RWH )RU RSHUDWRU SDQHO ;5 WKH 3&LQWHUIDFH IRUPDW DGGUHVV PXVW EH $6&,, WKH 3& %DXGUDWH DG
GUHVV PXVW EH %$8' WKH 3& SDULW\ DGGUHVV PXVW EH 12 6723
% $ 8 '
% $ 8 '
3 & 3 $ 5 , 7 < 3DULW\ DQG VWRSELWV IRU WKH 3& RSHUDWLQJ LQWHUIDFH
' , * 6 , 9 IRUPDW IRU 6LHPHQV SURWHFWLRQ GDWD SURFHVVLQJ SUR
JUDP ',*6,9 9HUVLRQ 9 ZLWK HYHQ SDULW\ DQG VWRSELW
1 2 6 7 2 3 WUDQVPLVVLRQ ZLWK 12 SDULW\ DQG 6723ELWV
$GGUHVVHV WR DUH YDOLG IRU WKH V\VWHP /6$ LQWHUIDFH LI ILWWHG
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
% $ 8 '
% $ 8 '
6 < 6 3 $ 5 , 7 < 3DULW\ DQG VWRSELWV IRU WKH V\VWHP /6$ LQWHUIDFH
IRUPDW IRU 9'(:SURWRFRO ,(& RU
6LHPHQV SURWHFWLRQ GDWD SURFHVVLQJ SURJUDP ',*6,9
9 ' ( : ' , * 6 , 9 / 6 $
9HUVLRQ DQG IRUPHU /6$
1 2 6 7 2 3 WUDQVPLVVLRQ ZLWK 12 SDULW\ DQG 6723ELWV
WUDQVPLVVLRQ ZLWK 12 SDULW\ DQG 6723ELW HJ IRU
1 2 6 7 2 3 PRGHP
$GGUHVV LV UHOHYDQW RQO\ LQ FDVH WKH V\VWHP LQWHUIDFH LV FRQQHFWHG ZLWK D KDUGZDUH WKDW RSHUDWHV ZLWK WKH
SURWHFWLRQ GDWD SURFHVVLQJ SURJUDP ',*6,9 DGGUHVV 6<6 ,17(5) ',*6, 9 7KLV DGGUHVV GHWHU
PLQHV ZKHWKHU LW VKDOO EH SHUPLWWHG WR FKDQJH SDUDPHWHUV YLD WKLV LQWHUIDFH
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
7KH FXUUHQW FRPSDULVRQ SURWHFWLRQ UHOD\ LV FRUG LV VHW XQGHU DGGUHVV $OWRJHWKHU V DUH
HTXLSSHG ZLWK D IDXOW GDWD VWRUH VHH 6HFWLRQ DYDLODEOH IRU IDXOW UHFRUGLQJ ,Q WKLV WLPH UDQJH XS WR
'LVWLQFWLRQ PXVW EH PDGH EHWZHHQ WKH UHIHUHQFH LQ IDXOW UHFRUGV FDQ EH VWRUHG
VWDQW DQG WKH VWRUDJH FULWHULRQ DGGUHVV 1RU
PDOO\ WKH JHQHUDO IDXOW GHWHFWLRQ VLJQDO RI WKH SUR 1RWH 7KH PD[ WLPHV DUH UHIHUUHG WR D V\VWHP IUH
WHFWLRQ LV WKH UHIHUHQFH LQVWDQW 7KH VWRUDJH FULWHULRQ TXHQF\ RI +] 7KH\ DUH WR EH PDWFKHG DFFRUG
FDQ EH WKH JHQHUDO IDXOW GHWHFWLRQ WRR 6725$*( %< LQJO\ IRU GLIIHUHQW IUHTXHQF\
)' RU WKH WULS FRPPDQG 6725$*( %< 75,3 $OWHU
QDWLYHO\ WKH WULS FRPPDQG FDQ EH VHOHFWHG DV UHIHU 7KH IDXOW UHFRUGLQJ FDQ DOVR EH LQLWLDWHG YLD D ELQDU\
HQFH LQVWDQW 67$57 :,7+ 75,3 LQ WKLV FDVH WKH WULS LQSXW RU E\ RSHUDWRU DFWLRQ IURP WKH PHPEUDQH NH\
FRPPDQG LV WKH VWRUDJH FULWHULRQ WRR )RU FXUUHQW ERDUG RQ WKH IURQW RI WKH UHOD\ RU YLD WKH RSHUDWLQJ LQ
FRPSDULVRQ SURWHFWLRQ IDXOW GHWHFWLRQ DQG WULS FRP WHUIDFH 7KH VWRUDJH LV WULJJHUHG G\QDPLFDOO\ LQ
PDQG DUH WKH VDPH LQVWDQW WKLV GLVWLQFWLRQ LV XVHIXO WKHVH FDVHV 7KH OHQJWK RI WKH GDWD VWRUDJH LV GHWHU
RQO\ IRU WKH RYHUFXUUHQW WLPH SURWHFWLRQ PLQHG E\ WKH VHWWLQJV LQ DGGUHVVHV DQG
EXW QRW ORQJHU WKDQ 70$; SUHWULJJHU WLPH DQG
7KH DFWXDO UHFRUGLQJ WLPH VWDUWV ZLWK WKH SUHWULJJHU SRVWIDXOW WLPH DUH DGGLWLYH WR WKH VHW YDOXHV ,I WKH
WLPH 735( DGGUHVV EHIRUH WKH UHIHUHQFH LQ VWRUDJH WLPH IRU VWDUW YLD ELQDU\ LQSXW LV VHW WR * WKHQ
VWDQW DQG HQGV ZLWK WKH SRVWIDXOW WLPH 73267 DG WKH VWRUDJH WLPH HQGV DIWHU GHHQHUJL]DWLRQ RI WKH
GUHVV DIWHU WKH UHFRUGLQJ FULWHULRQ KDV GLVDS ELQDU\ LQSXW VWDWLFDOO\ EXW QRW DIWHU 70$; DG
SHDUHG 7KH SHUPLVVLEOH UHFRUGLQJ WLPH IRU HDFK UH GUHVV
%HJLQQLQJ RI EORFN l)DXOW UHFRUGLQJVl
) $ 8 / 7 5 ( & 2 5 ' , 1 * 6
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
$GGUHVV LV QRW UHOHYDQW LQ FDVH WKDW WKH UHOD\ LV FRQQHFWHG WR D FRQWURO DQG VWRUDJH SURFHVVLQJ V\VWHP
ZKLFK RSHUDWHV ZLWK WKH SURWRFRO DFFRUGLQJ WR 9'(:=9(, ,(& %XW LI WKH UHOD\ LV FRQQHFWHG
WR D IRUPHU /6$ V\VWHP WKH UHOD\ PXVW EH LQIRUPHG KRZ ORQJ D WUDQVPLWWHG IDXOW UHFRUG PXVW EH VR WKDW WKH
IRUPHU /6$ V\VWHP UHFHLYHV WKH FRUUHFW QXPEHU RI IDXOW UHFRUG YDOXHV
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
,QWURGXFWLRQ
7KH GHYLFH 6' LV FDSDEOH RI SURYLGLQJ D VHULHV WLRQ ,Q WKH VHFRQG OLQH LV WKH DVVRFLDWHG WH[W HJ
RI SURWHFWLRQ DQG DGGLWLRQDO IXQFWLRQV ,QGLYLGXDO l(;,67l ,I WKLV WH[W LV DSSURSULDWH WKH DUURZ NH\V RU
IXQFWLRQV FDQ EH VHW FRQILJXUHG WR EH HIIHFWLYH RU FDQ EH XVHG WR SDJH WKH QH[W DGGUHVV ,I WKH WH[W
QRQHIIHFWLYH RU WKH LQWHUDFWLRQ RI WKH IXQFWLRQV FDQ VKRXOG EH DOWHUHG SUHVV WKH l1RlNH\ 1 DQ DOWHUQD
EH PRGLILHG E\ FRQILJXUDWLRQ SDUDPHWHUV $GGLWLRQ WLYH WH[W WKHQ DSSHDUV HJ l121 (;,67l 7KHUH
DOO\ WKH UHOD\ FDQ EH DGDSWHG WR WKH V\VWHP IUHTXHQ PD\ EH RWKHU DOWHUQDWLYHV ZKLFK FDQ WKHQ EH GLV
F\ SOD\HG E\ UHSHDWHG GHSUHVVLRQ RI WKH l1RlNH\ 1
7KH UHTXLUHG DOWHUQDWLYH PXVW EH FRQILUPHG ZLWK
([DPSOH IRU FRQILJXUDWLRQ RI WKH VFRSH RI WKH IXQF WKH NH\ (
WLRQV
$VVXPH D QHWZRUN FRPSULVLQJ RYHUKHDG OLQHV DQG 8VH RI WKH GRXEOH DUURZ NH\ Â EULQJV RQH WR WKH QH[W
FDEOH VHFWLRQV 7KH RYHUORDG SURWHFWLRQ LV XVHG RQO\ DGGUHVV EORFN LQ WKLV FDVH 7KHUH RQH ILQGV IXU
IRU WKH FDEOH VHFWLRQV 7KHUHIRUH WKLV IXQFWLRQ ZLOO EH WKHU FRQILJXUDWLRQ SDUDPHWHUV ZKLFK FDQ HTXDOO\ EH
lGHFRQILJXUHGl IRU WKH GHYLFHV SURWHFWLQJ WKH RYHU FRQILUPHG RU DOWHUHG
KHDG OLQH VHFWLRQV
7KH FRQILJXUDWLRQ SURFHGXUH FDQ EH HQGHG DW DQ\
7KH FRQILJXUDWLRQ SDUDPHWHUV DUH LQSXW WKURXJK WKH WLPH E\ WKH NH\ FRPELQDWLRQ ) ( LH GHSUHVVLQJ WKH
LQWHJUDWHG RSHUDWLRQ NH\ERDUG DW WKH IURQW RI WKH GH IXQFWLRQ NH\ ) IROORZHG E\ WKH HQWU\ NH\ ( 7KH GLV
YLFH RU E\ PHDQV RI D SHUVRQDO FRPSXWHU FRQQHFWHG SOD\ VKRZV WKH TXHVWLRQ l6$9( 1(: 6(77,1*6 "l
WR WKLV IURQWLQWHUIDFH 7KH XVH RI WKH LQWHJUDWHG RSHU &RQILUP ZLWK WKH l<HVlNH\ -< WKDW WKH QHZ VHW
DWLQJ NH\ERDUG LV GHVFULEHG LQ GHWDLO LQ 6HFWLRQ WLQJV VKDOO EHFRPH YDOLG QRZ ,I \RX SUHVV WKH
$OWHUDWLRQ RI WKH SURJUDPPHG SDUDPHWHUV UHTXLUHV l1RlNH\ 1 LQVWHDG FRGHZRUG RSHUDWLRQ ZLOO EH
WKH LQSXW RI WKH FRGHZRUG VHH 6HFWLRQ :LWK DERUWHG LH DOO DOWHUDWLRQV ZKLFK KDYH EHHQ
RXW FRGHZRUG WKH VHWWLQJ FDQ EH UHDG RXW EXW QRW DO FKDQJHG VLQFH WKH ODVW FRGHZRUG HQWU\ DUH ORVW
WHUHG 7KXV HUURQHRXV DOWHUDWLRQV FDQ EH PDGH LQHIIHF
WLYH
)RU WKH SXUSRVH RI FRQILJXUDWLRQ DGGUHVVHV 44
DQG 44 DUH SURYLGHG 2QH FDQ DFFHVV WKH EHJLQ ,I RQH WULHV WR OHDYH WKH VHWWLQJ UDQJH IRU WKH FRQILJX
QLQJ RI WKH FRQILJXUDWLRQ EORFNV HLWKHU E\ GLUHFW GLDO UDWLRQ EORFNV LH DGGUHVV EORFNV WR ZLWK NH\V
Â Ä WKH GLVSOD\ VKRZV WKH TXHVWLRQ l(1' 2) &2'(
SUHVV GLUHFW DGGUHVV NH\ '$ :25' 23(5$7,21 "l 3UHVV WKH l1RlNH\ 1 WR
W\SH LQ DGGUHVV FRQWLQXH FRQILJXUDWLRQ ,I \RX SUHVV WKH l<HVlNH\
SUHVV H[HFXWH NH\ ( -< LQVWHDG DQRWKHU TXHVWLRQ DSSHDUV l6$9( 1(:
6(77,1*6 "l 1RZ \RX FDQ FRQILUP ZLWK -< RU
RU E\ SDJLQJ ZLWK WKH NH\V Â IRUZDUGV RU Ä EDFN DERUW ZLWK 1 DV GHVFULEHG DERYH
ZDUGV XQWLO DGGUHVV DSSHDUV
:KHQ RQH H[LWV WKH VHWWLQJ SURJUDP WKH DOWHUHG SD
:LWKLQ WKH ERFN RQH FDQ SDJH IRUZDUG ZLWK RU UDPHWHUV ZKLFK XQWLO WKHQ KDYH EHHQ VWRUHG LQ YROD
EDFN ZLWK (DFK SDJLQJ DFWLRQ OHDGV WR D IXUWKHU WLOH PHPRULHV DUH WKHQ SHUPDQHQWO\ VHFXUHG LQ
DGGUHVV IRU WKH LQSXW RI D FRQILJXUDWLRQ SDUDPHWHU ,Q ((3520V DQG SURWHFWHG DJDLQVW SRZHU RXWDJH
WKH IROORZLQJ VHFWLRQV HDFK DGGUHVV LV VKRZQ LQ D 7KH SURFHVVRU V\VWHP ZLOO UHVHW DQG UHVWDUW 'XULQJ
ER[ ,Q WKH XSSHU OLQH RI WKH GLVSOD\ EHKLQG WKH QXP UHVWDUW WKH GHYLFH LV QRW RSHUDWLRQDO
EHU DQG WKH EDU VWDQGV WKH DVVRFLDWHG GHYLFH IXQF
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
7KH DYDLODEOH SURWHFWLYH DQG DGGLWLRQDO IXQFWLRQV VHWWLQJ 6HFWLRQ ,Q FRQWUDVW VZLWFKRII RI D
FDQ EH SURJUDPPHG DV H[LVWLQJ RU QRW H[LVWLQJ )RU IXQFWLRQ PHDQV WKDW WKH IXQFWLRQ ZLOO EH SURFHVVHG
VRPH IXQFWLRQV LW PD\ DOVR EH SRVVLEOH WR VHOHFW EH WKDW LQGLFDWLRQ ZLOO DSSHDU HJ l VZLWFKHG RIIl EXW
WZHHQ PXOWLSOH DOWHUQDWLYHV WKDW WKH IXQFWLRQ ZLOO KDYH QR HIIHFW RQ WKH UHVXOW RI
WKH SURWHFWLYH SURFHVV HJ QR WULSSLQJ FRPPDQG
)XQFWLRQV ZKLFK DUH FRQILJXUHG DV 121 (;,67 ZLOO
QRW EH SURFHVVHG LQ 6' 7KHUH ZLOO EH QR DQ 7KH IROORZLQJ ER[HV VKRZ WKH SRVVLELOLWLHV IRU WKH
QXQFLDWLRQV DQG WKH DVVRFLDWHG VHWWLQJ SDUDPHWHUV PD[LPXP VFRSH RI WKH GHYLFH
IXQFWLRQV OLPLW YDOXHV ZLOO QRW EH UHTXHVWHG GXULQJ
1 2 1 ( ; , 6 7 ( ; , 6 7
( ; 7 7 5 , 3 7 + ( 5 0 $ / 2 /
1 2 1 ( ; , 6 7 1 2 1 ( ; , 6 7
( ; , 6 7 ( ; , 6 7
7 5 $ 1 6 ) 7 5 , 3 3 $ 5 $ 0 & 2
1 2 1 ( ; , 6 7 1 2 1 ( ; , 6 7
( ; , 6 7 ( ; , 6 7
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
7KH UDWHG V\VWHP IUHTXHQF\ PXVW FRPSO\ ZLWK WKH VHWWLQJ XQGHU DGGUHVV ,I WKH V\VWHP IUHTXHQF\ LV QRW
+] DGGUHVV PXVW EH FKDQJHG
) 5 ( 4 8 ( 1 & <
5DWHG V\VWHP IUHTXHQF\ +] RU +]
I 1 + ]
I 1 + ]
7KH FRQILJXUDWLRQ DIIHFWV WKH LQWHUDFWLRQ RI WKH SURWHFWLYH DQG DGGLWLRQDO IXQFWLRQV IRU 6' PDLQO\ WKH WHOH
JUDP IRUPDW RI WKH SURWHFWLRQ GDWD LQWHUIDFH 7KLV HQDEOHV WR FRQQHFW D 6' ZLWK ILUPZDUH YHUVLRQ 9 ZLWK D
6' 9 RU 6' 9 DW WKH RSSRVLWH OLQH HQG
& % 7 ( 6 7 % ,
7KH SURJUDP RI FLUFXLW EUHDNHU WHVW ZKHQ LQLWLDWHG YLD
7 + 5 ( ( 3 2 / ( 7 5 , 3 ELQDU\ LQSXW LV DOZD\V 7+5(( 32/( 75,3
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
,QWURGXFWLRQ
7KH IXQFWLRQV RI WKH ELQDU\ LQSXWV DQG RXWSXWV UHSUH SK\VLFDO LQSXW PRGXOH DQG VKRXOG LQLWLDWH D ORJ
VHQWHG LQ WKH JHQHUDO GLDJUDPV $SSHQGL[ $ UHODWH LFDO IXQFWLRQ QDPHO\ EORFNLQJ 7KH FRUUHVSRQGLQJ
WR WKH IDFWRU\ VHWWLQJV 7KH DVVLJQPHQW RI WKH LQSXWV TXHVWLRQ WR WKH RSHUDWRU LV WKHQ :KLFK VLJQDO IURP D
DQG RXWSXWV RI WKH LQWHUQDO IXQFWLRQV FDQ EH UHDU SK\VLFDO LQSXW HOHPHQW VKRXOG LQLWLDWH ZKLFK UHDF
UDQJHG DQG WKXV DGDSWHG WR WKH RQVLWH FRQGLWLRQV WLRQ LQ WKH GHYLFH" 2QH SK\VLFDO LQSXW VLJQDO FDQ LQLWL
DWH XS WR ORJLFDO IXQFWLRQV
0DUVKDOOLQJ RI WKH LQSXWV RXWSXWV DQG /('V LV SHU
IRUPHG E\ PHDQV RI WKH LQWHJUDWHG RSHUDWRU SDQHO RU 7KH WULS UHOD\V FDQ DOVR EH DVVLJQHG GLIIHUHQW IXQF
YLD WKH RSHUDWLQJ LQWHUIDFH LQ WKH IURQW 7KH RSHUDWLRQ WLRQV (DFK WULS UHOD\ FDQ EH FRQWUROOHG E\ HDFK FRP
RI WKH RSHUDWRU SDQHO LV GHVFULEHG LQ GHWDLO LQ 6HFWLRQ PDQG IXQFWLRQ RU FRPELQDWLRQ RI FRPPDQG IXQF
0DUVKDOOLQJ EHJLQV DW WKH SDUDPHWHU DGGUHVV WLRQV
7KH ORJLFDO DQQXQFLDWLRQ IXQFWLRQV FDQ EH XVHG LQ
7KH LQSXW RI WKH FRGHZRUG LV UHTXLUHG IRU PDUVKDO PXOWLSOH PDQQHU (J RQH DQQXQFLDWLRQ IXQFWLRQ FDQ
OLQJ UHIHU WR 6HFWLRQ :LWKRXW FRGHZRUG HQWU\ WULJJHU VHYHUDO VLJQDO UHOD\V VHYHUDO WULS UHOD\V DGGL
SDUDPHWHUV FDQ EH UHDG RXW EXW QRW EH FKDQJHG WLRQDOO\ EH LQGLFDWHG E\ /('V DQG EH FRQWUROOHG E\ D
'XULQJ FRGHZRUG RSHUDWLRQ LH IURP FRGHZRUG ELQDU\ LQSXW XQLW 7KH UHVWULFWLRQ LV WKDW WKH WRWDO RI DOO
HQWU\ XQWLO WKH WHUPLQDWLRQ RI WKH FRQILJXUDWLRQ SURFH SK\VLFDO LQSXWRXWSXW XQLWV ELQDU\ LQSXWV SOXV VLJQDO
GXUH WKH VROLG EDU LQ WKH GLVSOD\ IODVKHV UHOD\V SOXV /('V SOXV WULS UHOD\V ZKLFK DUH WR EH DV
VRFLDWHG ZLWK RQH ORJLFDO IXQFWLRQ PXVW QRW H[FHHG D
:KHQ WKH ILUPZDUH SURJUDPV DUH UXQQLQJ WKH VSHFLI QXPEHU RI ,I WKLV QXPEHU LV WULHG WR EH H[FHHGHG
LF ORJLF IXQFWLRQV ZLOO EH DOORFDWHG WR WKH SK\VLFDO LQ WKH GLVSOD\ ZLOO VKRZ D FRUUHVSRQGLQJ PHVVDJH
SXW DQG RXWSXW PRGXOHV RU /('V LQ DFFRUGDQFH ZLWK
WKH VHOHFWLRQ 7KH PDUVKDOOLQJ SURFHGXUH LV VHW XS VXFK WKDW IRU
HDFK SK\VLFDO ELQDU\ LQSXW HDFK RXWSXW UHOD\ DQG
([DPSOH 7ULS FRPPDQG LV UHJLVWHUHG IURP D SURWHF IRU HDFK PDUVKDOODEOH /(' WKH RSHUDWRU ZLOO EH
WLRQ IXQFWLRQ 7KLV HYHQW LV JHQHUDWHG LQ WKH GHYLFH DVNHG ZKLFK ORJLFDO IXQFWLRQ VKRXOG EH DOORFDWHG
DV DQ l$QQXQFLDWLRQl ORJLFDO IXQFWLRQ DQG VKRXOG
EH DYDLODEOH DW FHUWDLQ WHUPLQDOV RI WKH XQLW DV D 12 7KH RIIHUHG ORJLFDO IXQFWLRQV DUH WDEXODWHG IRU WKH
FRQWDFW 6LQFH VSHFLILF XQLW WHUPLQDOV DUH KDUGZLUHG ELQDU\ LQSXWV RXWSXWV DQG /('V LQ WKH IROORZLQJ VHF
WR D VSHFLILF SK\VLFDO VLJQDO UHOD\ HJ WR WKH VLJQDO WLRQV
UHOD\ WKH SURFHVVRU PXVW EH DGYLVHG WKDW WKH ORJ
LFDO VLJQDO l'HYLFH 7ULSl VKRXOG EH WUDQVPLWWHG WR 7KH EHJLQQLQJ RI WKH PDUVKDOOLQJ SDUDPHWHU EORFNV
WKH VLJQDO UHOD\ 7KXV ZKHQ PDUVKDOOLQJ LV SHU LV UHDFKHG E\ GLUHFWO\ VHOHFWLQJ WKH DGGUHVV
IRUPHG WZR VWDWHPHQWV RI WKH RSHUDWRU DUH LPSRU LH
WDQW :KLFK ORJLFDO DQQXQFLDWLRQ JHQHUDWHG LQ WKH
SURWHFWLRQ XQLW SURJUDP VKRXOG WULJJHU ZKLFK SK\VL SUHVV GLUHFW DGGUHVV NH\ '$
FDO VLJQDO UHOD\" 8S WR ORJLFDO DQQXQFLDWLRQV FDQ HQWHU DGGUHVV
WULJJHU RQH SK\VLFDO VLJQDO UHOD\ SUHVV HQWHU NH\ (
$ VLPLODU VLWXDWLRQ DSSOLHV WR ELQDU\ LQSXWV ,Q WKLV RU E\ SDJLQJ ZLWK NH\V Â IRUZDUGV RU Ä EDFN
FDVH H[WHUQDO LQIRUPDWLRQ HJ EORFN FXUUHQW FRP ZDUGV XQWLO DGGUHVV KDV EHHQ UHDFKHG 7KH
SDULVRQ SURWHFWLRQ LV FRQQHFWHG WR WKH XQLW YLD D EHJLQQLQJ RI WKH PDUVKDOOLQJ EORFNV WKHQ DSSHDUV
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
2QH FDQ SURFHHG WKURXJK WKH PDUVKDOOLQJ EORFNV NH\ ( ,PPHGLDWHO\ WKH DVVRFLDWHG LGHQWLILFDWLRQ RI
ZLWK WKH NH\ Â RU JR EDFN ZLWK WKH NH\ Ä :LWKLQ D WKH IXQFWLRQ DSSHDUV IRU FKHFNLQJ SXUSRVHV 7KLV
EORFN RQH JRHV IRUZDUGV ZLWK RU EDFNZDUGV ZLWK FDQ EH DOWHUHG HLWKHU E\ HQWHULQJ DQRWKHU IXQFWLRQ
(DFK IRUZDUG RU EDFNZDUG VWHS OHDGV WR GLVSOD\ RI QXPEHU RU E\ SDJLQJ WKURXJK WKH SRVVLEOH IXQF
WKH QH[W LQSXW RXWSXW RU /(' SRVLWLRQ ,Q WKH GLVSOD\ WLRQV IRUZDUGV ZLWK WKH l1RlNH\ 1 RU EDFNZDUGV
EHKLQG WKH DGGUHVV DQG WKH VROLG EDU WKH SK\VLFDO ZLWK WKH EDFNVSDFH NH\ 5 ,I WKH IXQFWLRQ KDV EHHQ
LQSXWRXWSXW XQLW IRUPV WKH KHDGLQJ FKDQJHG DQRWKHU FRQILUPDWLRQ LV QHFHVVDU\ ZLWK
WKH H[HFXWH NH\ (
7KH NH\ FRPELQDWLRQ ) LH GHSUHVVLQJ WKH IXQF
WLRQ NH\ ) IROORZHG E\ WKH DUURZ NH\ VZLWFKHV RYHU ,Q WKH IROORZLQJ SDUDJUDSKV DOORFDWLRQ SRVVLELOLWLHV
WR WKH VHOHFWLRQ OHYHO IRU WKH ORJLFDO IXQFWLRQV WR EH DO IRU ELQDU\ LQSXWV ELQDU\ RXWSXWV DQG /(' LQGLFDWRUV
ORFDWHG 'XULQJ WKLV FKDQJHRYHU LH IURP SUHVVLQJ DUH JLYHQ 7KH DUURZV ÂÄ RU DW WKH OHIW KDQG VLGH RI
WKH ) NH\ XQWLO SUHVVLQJ WKH NH\ WKH EDU EHKLQG WKH WKH GLVSOD\ ER[ LQGLFDWH SDJLQJ IURP EORFN WR EORFN
DGGUHVV QXPEHU LV UHSODFHG E\ D l)l 7KH GLVSOD\ ZLWKLQ WKH EORFN RU RQ WKH VHOHFWLRQ OHYHO 7KH FKDUDF
VKRZV LQ WKH XSSHU OLQH WKH SK\VLFDO LQSXWRXWSXW WHU ) EHIRUH WKH DUURZ LQGLFDWHV WKDW WKH IXQFWLRQ NH\
XQLW WKLV WLPH ZLWK D WKUHH GLJLW LQGH[ QXPEHU 7KH ) PXVW EH SUHVVHG EHIRUH SXVKLQJ WKH DUURZ NH\
VHFRQG GLVSOD\ OLQH VKRZV WKH ORJLFDO IXQFWLRQ ZKLFK
LV SUHVHQWO\ DOORFDWHG 7KH IXQFWLRQ QXPEHUV DQG GHVLJQDWLRQV DUH OLVWHG
FRPSOHWHO\ LQ $SSHQGL[ &
2Q WKLV VHOHFWLRQ OHYHO WKH DOORFDWHG IXQFWLRQ FDQ EH
FKDQJHG E\ SUHVVLQJ WKH l1RlNH\ 1 %\ UHSHDWHG 7KH PDUVKDOOLQJ SURFHGXUH FDQ EH HQGHG DW DQ\
XVH RI WKH NH\ 1 DOO PDUVKDOODEOH IXQFWLRQV FDQ EH WLPH E\ WKH NH\ FRPELQDWLRQ ) ( LH GHSUHVVLQJ WKH
SDJHG WKURXJK WKH GLVSOD\ %DFNSDJLQJ LV SRVVLEOH IXQFWLRQ NH\ ) IROORZHG E\ WKH HQWU\ NH\ ( 7KH GLV
ZLWK WKH EDFNVSDFH NH\ 5 :KHQ WKH UHTXLUHG IXQF SOD\ VKRZV WKH TXHVWLRQ l6$9( 1(: 6(77,1*6 "l
WLRQ DSSHDUV SUHVV WKH H[HFXWH NH\ ( $IWHU WKLV IXU &RQILUP ZLWK WKH l<HVlNH\ -< WKDW WKH QHZ DOORFD
WKHU IXQFWLRQV FDQ EH DOORFDWHG WR WKH VDPH SK\VLFDO WLRQV VKDOO EHFRPH YDOLG QRZ ,I \RX SUHVV WKH
LQSXW RU RXWSXW PRGXOH ZLWK IXUWKHU LQGH[ QXPEHUV l1RlNH\ 1 LQVWHDG FRGHZRUG RSHUDWLRQ ZLOO EH
E\ XVLQJ WKH NH\ (DFK VHOHFWLRQ PXVW EH FRQ DERUWHG LH DOO DOWHUDWLRQV ZKLFK KDYH EHHQ
ILUPHG E\ SUHVVLQJ WKH NH\ ( ,I D VHOHFWLRQ SODFH FKDQJHG VLQFH WKH ODVW FRGHZRUG HQWU\ DUH ORVW
VKDOO QRW EH DVVLJQHG WR D IXQFWLRQ VHOHFWLRQ LV PDGH 7KXV HUURQHRXV DOWHUDWLRQV FDQ EH PDGH LQHIIHF
ZLWK WKH IXQFWLRQ lQRW DOORFDWHGl WLYH
<RX FDQ OHDYH WKH VHOHFWLRQ OHYHO E\ SUHVVLQJ WKH NH\ ,I RQH WULHV WR OHDYH WKH VHWWLQJ UDQJH IRU WKH FRQILJX
FRPELQDWLRQ ) LH GHSUHVVLQJ WKH IXQFWLRQ NH\ ) UDWLRQ EORFNV LH DGGUHVV EORFNV WR ZLWK NH\V
IROORZHG E\ WKH DUURZ NH\ 7KH GLVSOD\ VKRZV Â Ä WKH GLVSOD\ VKRZV WKH TXHVWLRQ l(1' 2) &2'(
DJDLQ WKH IRXU GLJLW DGGUHVV QXPEHU RI WKH SK\VLFDO :25' 23(5$7,21 "l 3UHVV WKH l1RlNH\ 1 WR
LQSXWRXWSXW PRGXOH 1RZ \RX FDQ SDJH ZLWK NH\ FRQWLQXH PDUVKDOOLQJ ,I \RX SUHVV WKH l<HVlNH\ -
WR WKH QH[W LQSXWRXWSXW PRGXOH RU ZLWK WR WKH SUH < LQVWHDG DQRWKHU TXHVWLRQ DSSHDUV l6$9( 1(:
YLRXV WR UHSHDW VHOHFWLRQ SURFHGXUH DV DERYH 6(77,1*6 "l 1RZ \RX FDQ FRQILUP ZLWK -< RU
DERUW ZLWK 1 DV DERYH
7KH ORJLFDO IXQFWLRQV DUH DOVR SURYLGHG ZLWK IXQFWLRQ
QXPEHUV ZKLFK DUH HTXDOO\ OLVWHG LQ WKH WDEOHV ,I WKH :KHQ RQH H[LWV WKH PDUVKDOOLQJ SURJUDP WKH DOWHUHG
IXQFWLRQ QXPEHU LV NQRZQ WKLV FDQ EH LQSXW GLUHFWO\ SDUDPHWHUV ZKLFK XQWLO WKHQ KDYH EHHQ VWRUHG LQ
RQ WKH VHOHFWLRQ OHYHO 3DJLQJ WKURXJK WKH SRVVLEOH YRODWLOH PHPRU\ DUH WKHQ SHUPDQHQWO\ VHFXUHG LQ
IXQFWLRQV LV WKHQ VXSHUIOXRXV :LWK GLUHFW LQSXW RI WKH ((3520V DQG SURWHFWHG DJDLQVW SRZHU RXWDJH
IXQFWLRQ QXPEHU OHDGLQJ ]HURV QHHG QRW EH HQWHUHG 7KH SURFHVVRU V\VWHP ZLOO UHVHW DQG UHVWDUW 'XULQJ
$IWHU LQSXW RI WKH IXQFWLRQ QXPEHU XVH WKH H[HFXWH UHVWDUW WKH GHYLFH LV QRW RSHUDWLRQDO
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
7KH XQLW FRQWDLQV ELQDU\ LQSXWV ZKLFK DUH GHVLJ :LWK GLUHFW LQSXW RI WKH IXQFWLRQ QXPEHU OHDGLQJ ]HU
QDWHG ,1387 WR ,1387 7KH\ FDQ EH PDUVKDOOHG RV QHHG QRW EH XVHG 7R LQGLFDWH WKH FRQWDFW PRGH
LQ DGGUHVV EORFN 7KH DGGUHVV EORFN LV UHDFKHG WKH IXQFWLRQ QXPEHU FDQ EH H[WHQGHG E\ D GHFLPDO
E\ SDJLQJ LQ EORFNV Â Ä RU E\ GLUHFW DGGUHVVLQJ ZLWK SRLQW IROORZHG E\ RU ZKHUHE\
'$ ( 7KH VHOHFWLRQ SURFHGXUH LV FDUULHG RXW
DV GHVFULEHG LQ 6HFWLRQ PHDQV lQRUPDOO\ RSHQl PRGH FRUUHVSRQGV WR
l12l DV DERYH
$ FKRLFH FDQ EH PDGH IRU HDFK LQGLYLGXDO LQSXW IXQF
WLRQ DV WR ZKHWKHU WKH GHVLUHG IXQFWLRQ VKRXOG EH PHDQV lQRUPDOO\ FORVHGl PRGH FRUUHVSRQGV WR
FRPH RSHUDWLYH LQ WKH lQRUPDOO\ RSHQl PRGH RU LQ l1&l DV DERYH
WKH lQRUPDOO\ FORVHGl PRGH ZKHUHE\
,I WKH H[WHQVLRQ ZLWK RU LV RPLWWHG WKH GLVSOD\ ILUVW
12 lQRUPDOO\ RSHQl PRGH WKH LQSXW DFWV DV D 12 LQGLFDWHV WKH IXQFWLRQ GHVLJQDWLRQ LQ lQRUPDOO\
FRQWDFW LH WKH FRQWURO YROWDJH DW WKH LQSXW RSHQl PRGH 12 %\ SUHVVLQJ WKH l1RlNH\ 1 WKH
WHUPLQDOV DFWLYDWHV WKH IXQFWLRQ PRGH LV FKDQJHG WR 1& $IWHU GLUHFW LQSXW RWKHU IXQF
WLRQV FDQ EH VHOHFWHG E\ SDJLQJ WKURXJK WKH IXQF
1& lQRUPDOO\ FORVHGl PRGH WKH LQSXW DFWV DV D WLRQV IRUZDUGV ZLWK WKH l1RlNH\ 1 RU EDFNZDUGV
1& FRQWDFW LH FRQWURO YROWDJH SUHVHQW DW WKH ZLWK WKH EDFNVSDFH NH\ 5 7KH FKDQJHG IXQFWLRQ
WHUPLQDOV WXUQV RII WKH IXQFWLRQ FRQWURO YROW WKHQ PXVW EH UHFRQILUPHG E\ WKH HQWU\ NH\ (
DJH DEVHQW DFWLYDWHV WKH IXQFWLRQ
1RWH 2QH ORJLFDO IXQFWLRQ PXVW QRW EH PDUVKDOOHG WR
:KHQ SDJLQJ WKURXJK WKH GLVSOD\ HDFK LQSXW IXQF WZR RU PRUH ELQDU\ LQSXWV EHFDXVH DQ 25ORJLF RI
WLRQ LV GLVSOD\HG ZLWK WKH LQGH[ l12l RU l1&l ZKHQ ERWK VLJQDOV FDQ QRW EH JXDUDQWHHG
SURFHHGLQJ ZLWK WKH l1RlNH\ 1
7KH DVVLJQPHQW RI WKH ELQDU\ LQSXWV DV GHOLYHUHG
7DEOH VKRZV D FRPSOHWH OLVW RI DOO WKH ELQDU\ LQSXW IURP IDFWRU\ LV VKRZQ LQ WKH JHQHUDO GLDJUDPV LQ $S
IXQFWLRQV ZLWK WKHLU DVVRFLDWHG IXQFWLRQ QXPEHU SHQGL[ $ 7KH IROORZLQJ ER[HV VKRZ DV DQ H[DPSOH
)1R ,QSXW IXQFWLRQV QDWXUDOO\ KDYH QR HIIHFW LI WKH WKH DOORFDWLRQ IRU ELQDU\ LQSXW 7DEOH VKRZV DOO
FRUUHVSRQGLQJ SURWHFWLRQ IXQFWLRQ LV QRW ILWWHG LQ WKH ELQDU\ LQSXWV DV SUHVHW IURP WKH IDFWRU\
UHOD\ RU KDV EHHQ SURJUDPPHG RXW lGHFRQILJ
XUHGl UHIHU WR 6HFWLRQ
) % , 1 $ 5 <
$OORFDWLRQV IRU ELQDU\ LQSXW
, 1 3 8 7
, 1 3 8 7
Q R W D O O R F D W H G 1R IXUWKHU IXQFWLRQV DUH LQLWLDWHG E\ ELQDU\ LQSXW
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
/HDYH WKH VHOHFWLRQ OHYHO ZLWK NH\ FRPELQDWLRQ ) <RX FDQ JR WKHQ WR WKH QH[W ELQDU\ LQSXW ZLWK WKH DUURZ NH\
%,1$5< ,1387 $FNQRZOHGJH DQG UHVHW RI VWRUHG /(' DQG GLV
,1387 !/(' UHVHW 12 SOD\ LQGLFDWLRQV /('WHVW
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
7KH XQLW FRQWDLQV VLJQDO RXWSXWV DODUP UHOD\V 7KH DVVLJQPHQW RI WKH RXWSXW VLJQDO UHOD\V DV GHOLY
7KH VLJQDO UHOD\V DUH GHVLJQDWHG 6,*1$/ 5(/$< HUHG IURP IDFWRU\ LV VKRZQ LQ WKH JHQHUDO GLDJUDPV
WR 6,*1$/ 5(/$< DQG FDQ EH PDUVKDOOHG LQ DG LQ $SSHQGL[ $ 7KH IROORZLQJ ER[HV VKRZ H[DPSOHV
GUHVV EORFN 7KH EORFN LV UHDFKHG E\ SDJLQJ LQ IRU PDUVKDOOLQJ RI VLJQDO UHOD\ 7DEOH VKRZV DOO
EORFNV ZLWK Â Ä RU E\ GLUHFWO\ DGGUHVVLQJ '$ VLJQDO UHOD\V DV SUHVHW IURP WKH IDFWRU\
( 7KH VHOHFWLRQ SURFHGXUH LV FDUULHG RXW DV GH
VFULEHG LQ 6HFWLRQ 0XOWLSOH DQQXQFLDWLRQV DUH 1RWH DV WR 7DEOH $QQXQFLDWLRQV ZLWK D OHDGLQJ
SRVVLEOH LH RQH ORJLFDO DQQXQFLDWLRQ IXQFWLRQ FDQ l!l VLJQ DUH LGHQWLFDO ZLWK WKRVH IRU ELQDU\ LQSXWV
EH JLYHQ WR VHYHUDO SK\VLFDO VLJQDO UHOD\V VHH DOVR 7KH\ UHSUHVHQW WKH GLUHFW FRQILUPDWLRQ RI WKH ELQDU\
6HFWLRQ LQSXW DQG DUH DYDLODEOH DV ORQJ DV WKH FRUUHVSRQGLQJ
ELQDU\ LQSXW LV HQHUJL]HG
7DEOH JLYHV D OLVWLQJ RI DOO DQQXQFLDWLRQ IXQFWLRQV
ZLWK WKH DVVRFLDWHG IXQFWLRQ QXPEHUV )1R $QQXQ )XUWKHU LQIRUPDWLRQ DERXW DQQXQFLDWLRQV VHH 6HF
FLDWLRQ IXQFWLRQV DUH QDWXUDOO\ QRW HIIHFWLYH ZKHQ WKH WLRQ
FRUUHVSRQGLQJ SURWHFWLRQ IXQFWLRQ KDV EHHQ SUR
JUDPPHG RXW lGHFRQILJXUHGl UHIHU WR 6HFWLRQ
) 6 , * 1 $ /
$OORFDWLRQV IRU VLJQDO UHOD\
5 ( / $ <
5 ( / $ <
QR IXUWKHU IXQFWLRQV DUH SUHVHW IRU VLJQDO UHOD\
Q R W D O O R F D W H G
/HDYH WKH VHOHFWLRQ OHYHO ZLWK NH\ FRPELQDWLRQ ) <RX FDQ JR WKHQ WR WKH QH[W VLJQDO RXWSXW UHOD\ ZLWK WKH
DUURZ NH\
6 , * 1 $ /
$OORFDWLRQV IRU VLJQDO UHOD\
5 ( / $ <
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
7DEOH 0DUVKDOOLQJ SRVVLELOLWLHV IRU VLJQDO UHOD\V DQG /('V FRQWLQXHG QH[W SDJH
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
7DEOH 0DUVKDOOLQJ SRVVLELOLWLHV IRU VLJQDO UHOD\V DQG /('V FRQWLQXHG QH[W SDJH
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
6,*1$/ 5(/$< 7ULS VLJQDO JLYHQ IURP HLWKHU SURWHFWLRQ IXQF
5(/$< 'HYLFH 7ULS WLRQ RI WKH GHYLFH
6,*1$/ 5(/$< 7KH 1& FRQWDFW RI WKLV UHOD\ LQGLFDWHV l'H
5(/$< 'HYRSHUDWLYH YLFH IDXOWl
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
7KH XQLW FRQWDLQV /('V IRU RSWLFDO LQGLFDWLRQV RI XQVWRUHG LQGLFDWLRQ QRW PHPRUL]HG FRUUH
ZKLFK FDQ EH PDUVKDOOHG 7KH\ DUH GHVLJQDWHG /(' VSRQGV WR lQPl DV DERYH
WR /(' DQG FDQ EH PDUVKDOOHG LQ DGGUHVV EORFN VWRUHG LQGLFDWLRQ PHPRUL]HG FRUUHVSRQGV
7KH EORFN LV UHDFKHG E\ SDJLQJ LQ EORFNV ZLWK Â Ä WR lPl DV DERYH
RU E\ GLUHFWO\ DGGUHVVLQJ ZLWK '$ ( 7KH ,I WKH H[WHQVLRQ ZLWK RU LV RPLWWHG WKH GLVSOD\
VHOHFWLRQ SURFHGXUH LV FDUULHG RXW DV GHVFULEHG LQ VKRZV ILUVW WKH IXQFWLRQ GHVLJQDWLRQ LQ XQVWRUHG
6HFWLRQ 0XOWLSOH DQQXQFLDWLRQV DUH SRVVLEOH PRGH ZLWK lQPl 3UHVV WKH l1RlNH\ 1 WR FKDQJH WR
LH RQH ORJLFDO DQQXQFLDWLRQ IXQFWLRQ FDQ EH JLYHQ WR VWRUHG PRGH lPl $IWHU GLUHFW LQSXW RWKHU IXQFWLRQV
VHYHUDO /('V VHH DOVR 6HFWLRQ FDQ EH VHOHFWHG E\ SDJLQJ WKURXJK WKH IXQFWLRQV IRU
ZDUGV ZLWK WKH l1RlNH\ 1 RU EDFNZDUGV ZLWK WKH
$SDUW IURP WKH ORJLFDO IXQFWLRQ HDFK /(' FDQ EH EDFNVSDFH NH\ 5 7KH FKDQJHG IXQFWLRQ WKHQ PXVW
PDUVKDOOHG WR RSHUDWH HLWKHU LQ WKH VWRUHG PRGH P EH UHFRQILUPHG E\ WKH HQWHUNH\ (
IRU PHPRUL]HG RU XQVWRUHG PRGH QP IRU lQRW PHP
RUL]HGl (DFK DQQXQFLDWLRQ IXQFWLRQ LV GLVSOD\HG 7KH PDUVKDOODEOH DQQXQFLDWLRQ IXQFWLRQV DUH WKH
ZLWK WKH LQGH[ P RU QP ZKHQ SURFHHGLQJ ZLWK WKH 1 VDPH DV WKRVH OLVWHG LQ 7DEOH $QQXQFLDWLRQ IXQF
NH\ WLRQV DUH RI FRXUVH QRW HIIHFWLYH ZKHQ WKH FRUUH
VSRQGLQJ SURWHFWLRQ IXQFWLRQ KDV EHHQ SUR
7R LQGLFDWH ZKHWKHU WKH VWRUHG RU XQVWRUHG PRGH JUDPPHG RXW GHFRQILJXUHG
VKDOO EH HIIHFWLYH WKH IXQFWLRQ QXPEHU FDQ EH H[ 7KH DVVLJQPHQW RI WKH /('V DV SUHVHW E\ WKH IDFWRU\
WHQGHG E\ D GHFLPDO SRLQW IROORZHG E\ RU ZKHUH LV VKRZQ LQ WKH IURQW RI WKH XQLW )LJ 7KH IROORZ
E\ LQJ ER[HV VKRZ DV DQ H[DPSOH WKH DVVLJQPHQW IRU
/(' 7DEOH VKRZV DOO /(' SUHVHWWLQJV
$IWHU LQSXW RI DOO DQQXQFLDWLRQV IRU /(' FKDQJHEDFN WR WKH PDUVKDOOLQJ OHYHO LV FDUULHG RXW ZLWK )
$GGU VW GLVSOD\ OLQH QG GLVSOD\ OLQH )1R 5HPDUNV
0$56+$//,1* /('V +HDGLQJ RI WKH DGGUHVV EORFN
/(' 7ULS VLJQDO JLYHQ IURP HLWKHU SURWHFWLRQ IXQF
/(' 'HYLFH 7ULS P WLRQ RI WKH GHYLFH
/('
/(' 'HY7ULS S P
/('
/(' 'HY7ULS S P 7ULS VLJQDO RI WKH GHYLFH
/('
/(' 'HY7ULS S P
/('
/(' ,7ULS UHF P ,QWHUWULS VLJQDO UHFHLYHG
/('
/(' 5HFHS)DLO P 7RWDO UHFHSWLRQ IDLOXUH
7DEOH 3UHVHW /(' LQGLFDWRUV
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
7KH XQLW FRQWDLQV WULS UHOD\V ZKLFK DUH GHVLJQDWHG WULS UHOD\ RXWSXW 5HJDUG WKH WDEOH DV D UHFRP
75,3 5(/$< DQG 75,3 5(/$< (DFK WULS UHOD\ FDQ PHQGHG SUHVHOHFWLRQ &RPPDQG IXQFWLRQV DUH QDW
EH FRQWUROOHG E\ XS WR ORJLFDO FRPPDQGV 7KH WULS XUDOO\ QRW HIIHFWLYH ZKHQ WKH FRUUHVSRQGLQJ SURWHF
UHOD\V FDQ EH PDUVKDOOHG LQ WKH DGGUHVV EORFN WLRQ IXQFWLRQ LV QRW ILWWHG LQ WKH UHOD\ RU KDV EHHQ SUR
7KH EORFN LV UHDFKHG E\ SDJLQJ LQ EORFNV ZLWK Â Ä RU JUDPPHG RXW GHFRQILJXUHG
E\ GLUHFWO\ DGGUHVVLQJ ZLWK '$ LQSXW RI WKH DGGUHVV
QXPEHU DQG SUHVVLQJ WKH HQWHU NH\ ( 7KH 7KH DVVLJQPHQW RI WKH WULS UHOD\V DV GHOLYHUHG IURP
VHOHFWLRQ SURFHGXUH LV FDUULHG RXW DV GHVFULEHG LQ IDFWRU\ LV VKRZQ LQ WKH JHQHUDO GLDJUDPV LQ $SSHQ
6HFWLRQ 0XOWLSOH FRPPDQGV DUH SRVVLEOH LH GL[ $ 7KH IROORZLQJ ER[HV VKRZ DQ H[DPSOH IRU
RQH ORJLFDO FRPPDQG IXQFWLRQ FDQ EH JLYHQ WR VHY PDUVKDOOLQJ RI WULS UHOD\V 7DEOH VKRZV DOO WULS
HUDO WULS UHOD\V VHH DOVR 6HFWLRQ UHOD\V DV SUHVHW IURP WKH IDFWRU\
0RVW RI WKH IXQFWLRQV LQ DFFRUGDQFH ZLWK 7DEOH ,I IXUWKHU SURWHFWLRQ IXQFWLRQV VKDOO WULS WKH VDPH
FDQ EH PDUVKDOOHG WR RXWSXW FRPPDQG UHOD\V %XW EUHDNHU HDFK FRPPDQG UHOD\ PXVW EH WULJJHUHG E\
WKRVH OLVWHG LQ 7DEOH DUH SDUWLFXODUO\ VXLWDEOH IRU WKH FRUUHVSRQGLQJ FRPPDQG IXQFWLRQV
) 7 5 , 3
$OORFDWLRQV IRU WULS UHOD\
5 ( / $ <
&*&
6' 9 ,QVWDOODWLRQ LQVWUXFWLRQV
/HDYH WKH VHOHFWLRQ OHYHO ZLWK NH\ FRPELQDWLRQ ) <RX FDQ JR WKHQ WR WKH QH[W WULS UHOD\ ZLWK WKH DUURZ NH\
7 5 , 3
5 ( / $ < $OORFDWLRQV IRU WULS UHOD\
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
2SHUDWLQJ LQVWUXFWLRQV
&DXWLRQ
'HFLPDO SRLQW
&RQQHFWLRQ RI WKH GHYLFH WR D EDWWHU\ FKDU
JHU ZLWKRXW FRQQHFWHG EDWWHU\ PD\ FDXVH
LPSHUPLVVLEO\ KLJK YROWDJHV ZKLFK GDPDJH
WKH GHYLFH 6HH DOVR 6HFWLRQ XQGHU * ,QILQLW\ V\PERO
7HFKQLFDO GDWD IRU OLPLWV
6HWWLQJ RSHUDWLRQ DQG LQWHUURJDWLRQ RI GLJLWDO SURWHF <HV1R NH\V IRU WH[W SDUDPHWHUV
WLRQ DQG DXWRPDWLRQ V\VWHPV FDQ EH FDUULHG RXW YLD
WKH LQWHJUDWHG PHPEUDQH NH\ERDUG DQG GLVSOD\
SDQHO ORFDWHG RQ WKH IURQW SODWH $OO WKH QHFHVVDU\ <HV NH\ RSHUDWRU DIILUPV WKH GLV
-<
RSHUDWLQJ SDUDPHWHUV FDQ EH HQWHUHG DQG DOO WKH LQ SOD\HG TXHVWLRQ
IRUPDWLRQ FDQ EH UHDG RXW IURP KHUH 2SHUDWLRQ LV
DGGLWLRQDOO\ SRVVLEOH YLD WKH LQWHUIDFH VRFNHW E\
PHDQV RI D SHUVRQDO FRPSXWHU RU VLPLODU 1R NH\ RSHUDWRU GHQLHV WKH GLV
1 SOD\HG TXHVWLRQ RU UHMHFWV D VXJ
JHVWLRQ DQG UHTXHVWV IRU DOWHUQD
WLYH
0HPEUDQH NH\ERDUG DQG GLV
SOD\ SDQHO
7KH PHPEUDQH NH\ERDUG DQG GLVSOD\ SDQHO LV H[WHU .H\V IRU SDJLQJ WKURXJK WKH GLVSOD\
QDOO\ DUUDQJHG VLPLODU WR D SRFNHW FDOFXODWRU )LJXUH
LOOXVWUDWHV WKH IURQW YLHZ 3DJLQJ IRUZDUGV WKH QH[W DG
GUHVV LV GLVSOD\HG
$ WZROLQH HDFK FKDUDFWHU OLTXLG FU\VWDO GLVSOD\
SUHVHQWV WKH LQIRUPDWLRQ (DFK FKDUDFWHU FRPSULVHV
3DJLQJ EDFNZDUGV WKH SUHYLRXV
D [ GRW PDWUL[ 1XPEHUV OHWWHUV DQG D VHULHV RI
DGGUHVV LV GLVSOD\HG
VSHFLDO V\PEROV FDQ EH GLVSOD\HG
'XULQJ GLDORJ WKH XSSHU OLQH JLYHV D IRXU ILJXUH QXP %ORFN SDJLQJ IRUZDUGV WKH EH
EHU IROORZHG E\ D EDU 7KLV QXPEHU SUHVHQWV WKH VHW JLQQLQJ RI WKH QH[W DGGUHVV EORFN
WLQJ DGGUHVV 7KH ILUVW WZR GLJLWV LQGLFDWH WKH DG LV GLVSOD\HG
GUHVV EORFN WKHQ IROORZV WKH WZRGLJLW VHTXHQFH
QXPEHU ,Q PRGHOV ZLWK SDUDPHWHU FKDQJHRYHU ID %ORFN SDJLQJ EDFNZDUGV WKH EH
FLOLW\ WKH LGHQWLILHU RI WKH SDUDPHWHU VHW LV VKRZQ EH JLQQLQJ RI SUHYLRXV DGGUHVV
IRUH WKH VHWWLQJ DGGUHVV EORFN LV GLVSOD\HG
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
&RQILUPDWLRQ NH\
2SHUDWLRQ ZLWK D SHUVRQDO FRP
(QWHU RU FRQILUPDWLRQ NH\ HDFK SXWHU
( QXPHULFDO LQSXW RU FKDQJH YLD WKH
<HV1R NH\V PXVW EH FRQILUPHG E\
WKH HQWHU NH\ RQO\ WKHQ GRHV WKH $ SHUVRQDO FRPSXWHU DOORZV MXVW DV WKH RSHUDWRU
GHYLFH DFFHSW WKH FKDQJH 7KH HQ SDQHO DOO WKH DSSURSULDWH VHWWLQJV LQLWLDWLRQ RI WHVW
WHU NH\ FDQ DOVR EH XVHG WR DF URXWLQHV DQG UHDGRXW RI GDWD EXW ZLWK WKH DGGHG
NQRZOHGJH DQG FOHDU D IDXOW FRPIRUW RI VFUHHQEDVHG YLVXDOL]DWLRQ DQG D PHQX
SURPSW LQ WKLV GLVSOD\ D QHZ LQSXW JXLGHG SURFHGXUH
DQG UHSHDWHG XVH RI WKH HQWHU NH\
LV WKHQ QHFHVVDU\ $OO GDWD FDQ EH UHDG LQ IURP RU FRSLHG RQWR PDJQHW
LF GDWD FDUULHU IORSS\ GLVF HJ IRU VHWWLQJV DQG FRQ
ILJXUDWLRQ $GGLWLRQDOO\ DOO WKH GDWD FDQ EH GRFX
PHQWHG RQ D FRQQHFWHG SULQWHU ,W LV DOVR SRVVLEOH E\
&RQWURO DQG VSHFLDO NH\V
FRQQHFWLQJ D SORWWHU WR SULQW RXW WKH IDXOW KLVWRU\
WUDFHV
&RGHZRUG SUHYHQWV XQDXWKR
&: UL]HG DFFHVV WR VHWWLQJ SURJUDPV
QRW QHFHVVDU\ IRU FDOOXS RI DQ )RU RSHUDWLRQ RI WKH SHUVRQDO FRPSXWHU WKH LQVWUXF
QXQFLDWLRQV RU PHVVDJHV WLRQ PDQXDOV RI WKLV GHYLFH DUH WR EH REVHUYHG 7KH
3& SURJUDP ',*6, LV DYDLODEOH IRU VHWWLQJ DQG SUR
%DFNVSDFH HUDVXUH RI LQFRUUHFW FHVVLQJ RI DOO GLJLWDO SURWHFWLRQ GDWD 1RWH WKDW WKH
5 RSHUDWLQJ LQWHUIDFH LQ WKH IURQW RI WKH UHOD\ LV QRW JDO
HQWULHV
YDQLFDOO\ LVRODWHG DQG WKDW RQO\ DGHTXDWH FRQQHF
WLRQ FDEOHV DUH DSSOLHG HJ ;9 )XUWKHU
)XQFWLRQ NH\ H[SODLQHG ZKHQ LQIRUPDWLRQ DERXW IDFLOLWLHV RQ UHTXHVW
)
XVHG
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
6,(0(16
5HDGLQHVV LQGLFDWLRQ
JUHHQ
%HWULHE6HUYLFH 8QLW IDXOW\ LQGLFDWLRQ
UHG
6WÐUXQJ%ORFNHG
7ZR OLQH GLVSOD\
/&' ZLWK 6WURPYHUJOHLFKVFKXW]
FKDUDFWHUV HDFK /(' WR
IÚU /HLWXQJHQ UHG FDQ EH PDUVKDOOHG
&XUUHQW &RPSDULVRQ 3URWHFWLRQ
)DFWRU\ SUHVHWWLQJ
'HYLFH WULS
7ULS SROH
212)) VZLWFK IRU 7ULS SROH
LQWHJUDWHG SRZHU 7ULS SROH
VXSSO\ ,QWHUWULS UHFHLYHG
3URWGDWD WUDQVPLVVLRQ
OLQN IDXOW\
&:
5
$GGLWLRQDO NH\V 2SHUDWRU SDQHO
FDQ EH DFFHVVHG
ZKHQ FRYHU LV )
FORVHG
5(6(7
/('
'$
,1 $
8+ 9GF
*HU WHKDQGEXFK EHDFKWHQ
I 1 +]
2EVHUYH ,QVWUXFWLRQ PDQXDO
> ,,,
@
'LDJU& $ ;
)LJXUH )URQW YLHZ RI RSHUDWLQJ NH\ ERDUG DQG GLVSOD\ SDQHO
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
,QWURGXFWLRQ
)RU VHWWLQJ WKH IXQFWLRQDO SDUDPHWHUV LW LV QHFHVVDU\ 7KH GLVSOD\ VKRZV WKH IRXUGLJLW DGGUHVV LH
WR HQWHU WKH FRGHZRUG VHH :LWKRXW FRGH EORFN DQG VHTXHQFH QXPEHU HJ IRU EORFN
ZRUG HQWU\ SDUDPHWHUV FDQ EH UHDG RXW EXW QRW EH VHTXHQFH QXPEHU %HKLQG WKH EDU DSSHDUV
FKDQJHG WKH PHDQLQJ RI WKH UHTXLUHG SDUDPHWHU LQ WKH VHF
RQG GLVSOD\ OLQH WKH DSSOLFDEOH WH[W :KHQ WKH
,I WKH FRGHZRUG LV DFFHSWHG SDUDPHWHUL]LQJ FDQ EH UHOD\ LV GHOLYHUHG D WH[W KDV EHHQ SUHVHW ,Q WKH
JLQ ,Q WKH IROORZLQJ VHFWLRQV HDFK DGGUHVV LV LOOXV IROORZLQJ VHFWLRQV WKLV WH[W LV VKRZQ ,I LW LV WR EH
WUDWHG LQ D ER[ DQG LV H[SODLQHG 7KHUH DUH WKUHH UHWDLQHG QR RWKHU LQSXW LV QHFHVVDU\ 2QH FDQ
IRUPV RI GLVSOD\ SDJH IRUZDUGV RU EDFNZDUGV ZLWKLQ WKH EORFN RU WR
WKH QH[W RU SUHYLRXV EORFN ,I WKH WH[W QHHGV WR EH
$GGUHVVHV ZLWKRXW UHTXHVW IRU RSHUDWRU LQSXW DOWHUHG SUHVV WKH l1Rl NH\ 1 7KH QH[W DOWHUQDWLYH
WH[W DOVR SULQWHG LQ WKH GLVSOD\ ER[HV LOOXVWUDWHG LQ
7KH DGGUHVV LV LGHQWLILHG E\ WKH EORFN QXPEHU IRO WKH IROORZLQJ VHFWLRQV WKHQ DSSHDUV ,I WKH DOWHU
ORZHG E\ DV VHTXHQFH QXPEHU HJ IRU QDWLYH WH[W LV QRW GHVLUHG WKH 1 NH\ LV SUHVVHG
EORFN 'LVSOD\HG WH[W IRUPV WKH KHDGLQJ RI WKLV DJDLQ HWF 7KH DOWHUQDWLYH ZKLFK LV FKRVHQ LV
EORFN 1R LQSXW LV H[SHFWHG %\ XVLQJ NH\V Â RU Ä FRQILUPHG ZLWK WKH HQWU\ NH\ ( 7KH FKDQJHG
WKH QH[W RU WKH SUHYLRXV EORFN FDQ EH VHOHFWHG %\ SDUDPHWHUV DUH RQO\ VDYHG DIWHU WHUPLQDWLRQ RI SD
XVLQJ WKH NH\V RU WKH ILUVW RU ODVW DGGUHVV ZLWKLQ UDPHWHUL]LQJ UHIHU EHORZ
WKH EORFN FDQ EH VHOHFWHG DQG SDJHG
)RU HDFK RI WKH DGGUHVVHV WKH SRVVLEOH SDUDPHWHUV
$GGUHVVHV ZKLFK UHTXLUH QXPHULFDO LQSXW DQG WH[W DUH JLYHQ LQ WKH IROORZLQJ VHFWLRQV ,I WKH
PHDQLQJ RI D SDUDPHWHU LV QRW FOHDU LW LV XVXDOO\ EHVW
7KH GLVSOD\ VKRZV WKH IRXUGLJLW DGGUHVV LH WR OHDYH LW DW WKH IDFWRU\ VHWWLQJ 7KH DUURZV ÂÄ RU
EORFN DQG VHTXHQFH QXPEHU HJ IRU EORFN DW WKH OHIW KDQG VLGH RI WKH LOOXVWUDWHG GLVSOD\ ER[HV
VHTXHQFH QXPEHU %HKLQG WKH EDU DSSHDUV LQGLFDWH WKH PHWKRG RI PRYLQJ IURP EORFN WR EORFN RU
WKH PHDQLQJ RI WKH UHTXLUHG SDUDPHWHU LQ WKH VHF ZLWKLQ WKH EORFN 8QXVHG DGGUHVVHV DUH DXWRPDWL
RQG GLVSOD\ OLQH WKH YDOXH RI WKH SDUDPHWHU :KHQ FDOO\ SDVVHG RYHU
WKH UHOD\ LV GHOLYHUHG D YDOXH KDV EHHQ SUHVHW ,Q
WKH IROORZLQJ VHFWLRQV WKLV YDOXH LV VKRZQ ,I WKLV
,I WKH SDUDPHWHU DGGUHVV LV NQRZQ WKHQ GLUHFW DG
YDOXH LV WR EH UHWDLQHG QR RWKHU LQSXW LV QHFHV
GUHVVLQJ LV SRVVLEOH 7KLV LV DFKLHYHG E\ GHSUHVVLQJ
VDU\ 2QH FDQ SDJH IRUZDUGV RU EDFNZDUGV ZLWKLQ
NH\ '$ IROORZHG E\ WKH IRXUGLJLW DGGUHVV DQG VXE
WKH EORFN RU WR WKH QH[W RU SUHYLRXV EORFN ,I WKH
VHTXHQWO\ SUHVVLQJ WKH HQWHU NH\ ( $IWHU GLUHFW DG
YDOXH QHHGV WR EH DOWHUHG LW FDQ EH RYHUZULWWHQ XV
GUHVVLQJ SDJLQJ E\ PHDQV RI NH\V Â Ä DQG NH\V
LQJ WKH QXPHULFDO NH\V DQG LI UHTXLUHG WKH GHFL
LV SRVVLEOH
PDO SRLQW DQGRU FKDQJH VLJQ RU ZKHUH DS
SURSULDWH LQILQLW\ VLJQ * 7KH SHUPLVVLEOH VHWWLQJ
UDQJH LV JLYHQ LQ WKH IROORZLQJ WH[W QH[W WR WKH DV 7KH VHWWLQJ SURFHGXUH FDQ EH HQGHG DW DQ\ WLPH E\
VRFLDWHG ER[ (QWHUHG YDOXHV EH\RQG WKLV UDQJH WKH NH\ FRPELQDWLRQ ) ( LH GHSUHVVLQJ WKH IXQFWLRQ
ZLOO EH UHMHFWHG 7KH VHWWLQJ VWHSV FRUUHVSRQG WR NH\ ) IROORZHG E\ WKH HQWU\ NH\ ( 7KH GLVSOD\ VKRZV
WKH ODVW GHFLPDO SODFH DV VKRZQ LQ WKH VHWWLQJ ER[ WKH TXHVWLRQ l6$9( 1(: 6(77,1*6"l &RQILUP
,QSXWV ZLWK PRUH GHFLPDO SODFHV WKDQ SHUPLWWHG ZLWK WKH l<HVlNH\ -< WKDW WKH QHZ VHWWLQJV VKDOO
ZLOO EH WUXQFDWHG GRZQ WR WKH SHUPLVVLEOH QXPEHU EHFRPH YDOLG QRZ ,I \RX SUHVV WKH l1RlNH\ 1 LQ
7KH YDOXH PXVW EH FRQILUPHG ZLWK WKH HQWU\ NH\ VWHDG FRGHZRUG RSHUDWLRQ ZLOO EH DERUWHG LH DOO DO
( 7KH GLVSOD\ WKHQ FRQILUPV WKH DFFHSWHG YDOXH WHUDWLRQV ZKLFK KDYH EHHQ FKDQJHG VLQFH WKH ODVW
7KH FKDQJHG SDUDPHWHUV DUH RQO\ VDYHG DIWHU WHU FRGHZRUG HQWU\ DUH ORVW 7KXV HUURQHRXV DOWHUDWLRQV
PLQDWLRQ RI SDUDPHWHUL]LQJ UHIHU EHORZ FDQ EH PDGH LQHIIHFWLYH
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
,I RQH WULHV WR OHDYH WKH VHWWLQJ UDQJH IRU WKH IXQFWLRQ $OO SDUDPHWHU VHWV FDQ EH DFFHVVHG LQ D VLPLODU PDQ
DO SDUDPHWHU EORFNV LH DGGUHVV EORFNV WR QHU
ZLWK NH\V Â Ä WKH GLVSOD\ VKRZV WKH TXHVWLRQ l(1'
2) &2'(:25' 23(5$7,21 "l 3UHVV WKH l1Rl - .H\ FRPELQDWLRQ )
NH\ 1 WR FRQWLQXH SDUDPHWHUL]LQJ ,I \RX SUHVV WKH DFFHVV WR SDUDPHWHU VHW $
l<HVlNH\ -< LQVWHDG DQRWKHU TXHVWLRQ DSSHDUV
l6$9( 1(: 6(77,1*6 "l 1RZ \RX FDQ FRQILUP - .H\ FRPELQDWLRQ )
ZLWK -< RU DERUW ZLWK 1 DV DERYH DFFHVV WR SDUDPHWHU VHW %
,I WKLV IDFLOLW\ LV QRW XVHG WKHQ LW LV VXIILFLHQW WR VHW WKH ,W LV ILQDOO\ VWLOO SRVVLEOH WR GHILQH WKH DFWLYH SDUDPHWHU
SDUDPHWHUV IRU WKH SUHVHOHFWHG VHW 7KH UHVW RI WKLV VHW LH WKH SDUDPHWHU VHW ZKLFK LV YDOLG IRU WKH IXQF
VHFWLRQ LV RI QR LPSRUWDQFH 2WKHUZLVH WKH SDUDPH WLRQV DQG WKUHVKROG YDOXHV RI WKH XQLW 6HH 6HFWLRQ
WHU FKDQJHRYHU IDFLOLW\ PXVW EH FRQILJXUHG DV (;,67 IRU PRUH GHWDLOV
XQGHU DGGUHVV UHIHU WR 6HFWLRQ 7KH ILUVW
SDUDPHWHU VHW LV LGHQWLILHG DV VHW $ WKH RWKHU VHWV DUH 7KH SDUDPHWHU VHWV DUH SURFHVVHG LQ DGGUHVV EORFN
% & DQG ' (DFK RI WKHVH VHWV LV DGMXVWHG RQH DIWHU 7KH PRVW VLPSOH PDQQHU WR FRPH WR WKLV EORFN LV
WKH RWKHU XVLQJ GLUHFW DGGUHVVLQJ
,I WKH VZLWFKRYHU IDFLOLW\ LV WR EH XVHG ILUVW VHW DOO SD SUHVV GLUHFW DGGUHVV NH\ '$
UDPHWHUV IRU WKH QRUPDO VWDWXV RI SDUDPHWHU VHW $ HQWHU DGGUHVV HJ
7KHQ VZLWFK RYHU WR SDUDPHWHU VHW % SUHVV HQWHU NH\ (
)LVW FRPSOHWH WKH SDUDPHWHUL]LQJ SURFHGXUH IRU 7KH KHDGLQJ RI WKH EORFN IRU SURFHVVLQJ WKH SDUDPH
VHW $ DV GHVFULEHG LQ 6HFWLRQ WHU VHWV WKHQ DSSHDUV
3UHVV NH\ FRPELQDWLRQ ) LH ILUVW WKH IXQFWLRQ ,W LV SRVVLEOH WR VFUROO WKURXJK WKH LQGLYLGXDO DGGUHVV
NH\ ) DQG WKHQ WKH QXPEHU NH\ $OO IROORZLQJ LQ HV XVLQJ WKH NH\ 7KH FRS\LQJ IDFLOLWLHV DUH VXPPD
SXWV WKHQ UHIHU WR SDUDPHWHU VHW % UL]HG LQ 7DEOH
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
6(7 $ 6(7 % 7KH GDWH DQG WLPH FDQ EH VHW LI WKH XQLW LV HTXLSSHG
ZLWK WKH UHDO WLPH FORFN 6HWWLQJ LV FDUULHG RXW LQ EORFN
6(7 $ 6(7 &
ZKLFK LV UHDFKHG E\ GLUHFW DGGUHVVLQJ '$
6(7 $ 6(7 ' ( RU E\ SDJLQJ ZLWK Â DQG Ä ,QSXW RI WKH
FRGHZRUG LV UHTXLUHG WR FKDQJH WKH GDWD
6(7 % 6(7 $
6HOHFWLRQ RI WKH LQGLYLGXDO DGGUHVVHV LV E\ IXUWKHU
6(7 % 6(7 & VFUROOLQJ XVLQJ DV VKRZQ EHORZ (DFK PRGLILFD
WLRQ PXVW EH FRQILUPHG ZLWK WKH HQWHU NH\ (
6(7 % 6(7 '
7KH GDWH DQG WLPH DUH HQWHUHG ZLWK GRWV DV VHSDUD
6(7 & 6(7 $ WRU VLJQV VLQFH WKH NH\ERDUG GRHV QRW KDYH D FRORQ
RU VODVK IRU $PHULFDQ GDWH
6(7 & 6(7 %
6(7 & 6(7 ' 7KH FORFN LV V\QFKURQL]HG DW WKH PRPHQW ZKHQ WKH
HQWHU NH\ ( LV SUHVVHG IROORZLQJ LQSXW RI WKH FRP
6(7 ' 6(7 $ SOHWH WLPH 7KH GLIIHUHQFH WLPH IDFLOLW\ DGGUHVV
HQDEOHV H[DFW VHWWLQJ RI WKH WLPH VLQFH WKH GLI
6(7 ' 6(7 % IHUHQFH FDQ EH FDOFXODWHG SULRU WR WKH LQSXW DQG WKH
V\QFKURQL]DWLRQ RI WKH FORFN GRHV QRW GHSHQG RQ WKH
6(7 ' 6(7 & PRPHQW ZKHQ WKH HQWHU NH\ ( LV SUHVVHG
(QWHU WKH QHZ GDWH GLJLWV IRU GD\ GLJLWV IRU PRQWK
' $ 7 ( DQG GLJLWV IRU \HDU LQFOXGLQJ FHQWXU\ XVH WKH RUGHU
DV FRQILJXUHG XQGHU DGGUHVV 6HFWLRQ EXW
DOZD\V XVH D GRW IRU VHSDUDWRU
''00<<<< RU 00''<<<<
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
:KHQ WKH UHOD\ LV VZLWFKHG RQ ILUVWO\ WKH DGGUHVV DQG WKH W\SH LGHQWLILFDWLRQ RI WKH UHOD\ DSSHDUV $OO 6LHPHQV
UHOD\V KDYH DQ 0/)% PDFKLQH UHDGDEOH RUGHU QXPEHU :KHQ WKH GHYLFH LV RSHUDWLYH DQG GLVSOD\V D TXLHVFHQW
PHVVDJH DQ\ GHVLUHG DGGUHVV FDQ EH UHDFKHG HJ E\ SUHVVLQJ WKH GLUHFW DGGUHVV NH\ '$ IROORZHG E\ WKH
DGGUHVV QXPEHU
$IWHU DGGUHVV WKH IXQFWLRQDO SDUDPHWHUV EHJLQ )XUWKHU DGGUHVV SRVVLELOLWLHV DUH OLVWHG XQGHU l$QQXQFL
DWLRQVl DQG l7HVWVl
7KH UHOD\ UHTXHVWV EDVLF GDWD RI WKH SRZHU V\VWHP DQG WKH VZLWFKJHDU 7KHVH GDWD DUH XVHG IRU PDWFKLQJ WKH
LQWHUQDO PHDVXUHG YDOXHV WR WKH FXUUHQW WUDQVIRUPHUV HVSHFLDOO\ LQ FDVH WKH SULPDU\ UDWHG FXUUHQWV DUH GLIIHUHQW
DW WKH WZR OLQH HQGV DQG WR GHILQH WKH SRODULW\ RI WKH FXUUHQWV
%HJLQQLQJ RI WKH EORFN l3RZHU V\VWHP GDWDl
3 2 : ( 5 6 < 6 7 ( 0 ' $ 7 $
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
,Q RUGHU WR JXDUDQWHH GHILQLWH GLVFRQQHFWLRQ RI WKH VKRUWFLUFXLW FXUUHQW GLVWULEXWLRQV DQG GLIIHUHQW FLU
OLQH E\ ERWK FLUFXLW EUHDNHUV WKH XQLW LV HTXLSSHG FXLW EUHDNHU WULS WLPHV ,W PXVW DOVR HQVXUH WKDW WKH
ZLWK DQ DGMXVWDEOH PLQLPXP WULS VLJQDO GXUDWLRQ FLUFXLW EUHDNHU DX[LOLDU\ FRQWDFW LQWHUUXSWV WKH FXU
7KLV VKRXOG EH VXIILFLHQWO\ ORQJ WR HQVXUH SURSHU H[ UHQW RI WKH WULS FLUFXLW
HFXWLRQ RI WKH WULS FRPPDQG HYHQ ZLWK XQIDYRXUDEOH
6HWWLQJV IRU WKH FXUUHQW FRPSDULVRQ SURWHFWLRQ DGGUHVV EORFN
7KH FRPSDULVRQ SURWHFWLRQ IXQFWLRQ FDQ EH VHW WR EH RSHUDWLYH RU LQRSHUDWLYH $ SUHFRQGLWLRQ LV WKDW WKLV IXQF
WLRQ KDV EHHQ FRQILJXUHG DV &&3 )81&7 (;,67 XQGHU DGGUHVV UHIHU WR 6HFWLRQ
2 ) ) 2))
7KH FRPSDULVRQ SURWHFWLRQ LQFOXGHV D VWHDG\VWDWH 7KH G\QDPLF WKUHVKROG ,!'<1 DGGUHVV SUHV
DQG D G\QDPLF WKUHVKROG HQWV KLJK VHQVLWLYLW\ LQGHSHQGHQW RI WKH PDJQLWXGH
RI WKH WKURXJKIORZLQJ FXUUHQW 7KLV SLFNXS YDOXH
7KH VHWWLQJ RI WKH VWHDG\VWDWH WKUHVKROG LV GHWHU VKRXOG EH VHW WR DW OHDVW WLPHV WKH FKDUJLQJ FXUUHQW
PLQHG PDLQO\ E\ WKH PD[LPXP RSHUDWLRQDO ORDG FXU RI WKH SURWHFWHG OLQH 7KH SUHVHW YDOXH k ,1 LV DG
UHQW 3LFNXS DW WKLV WKUHVKROG IRU RYHUORDGV VKRXOG HTXDWH IRU FDEOHV DQG RYHUKHDG OLQHV IURP N9 XS
EH H[FOXGHG VLQFH WKLV ZRXOG VLPXODWH D FRQWLQXRXV WR N9 ZLWK D OHQJWK EHORZ NP SURYLGHG WKLV
WKURXJKIDXOW FRQGLWLRQ WR WKH UHOD\ 7KH SLFNXS YDO VHQVLWLYLW\ LV GHVLUHG )RU ORQJHU FDEOHV DQG RYHU
XH ,!6767$7( DGGUHVV PXVW WKHUHIRUH EH KHDG OLQHV RU IRU KLJKHU YROWDJH OHYHOV WKH G\QDPLF
VHW WR DERYH WKH H[SHFWHG RYHU ORDG FXUUHQW DW WKUHVKROG VHWWLQJ VKRXOG EH FKHFNHG E\ FDOFXODWLQJ
OHDVW WLPHV WKH FKDUJLQJ FXUUHQW RI WKH OLQH 7KH IROORZLQJ IRUPX
OD FDQ EH XVHG
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
7KH FDOFXODWHG FKDUJLQJ FXUUHQW PXVW EH UHODWHG RQ $OO FXUUHQWV DUH UHIHUUHG WR WKH UDWHG FXUUHQW RI WKH
WKH SULPDU\ UDWHG FXUUHQW RI WKH FXUUHQW WUDQVIRUP UHOD\ 7KLV PXVW EH FRQVLGHUHG ZKHQ WKH SULPDU\
HUV UDWHG FXUUHQWV RI WKH FWV DW WKH WZR OLQH HQGV DUH GLI
IHUHQW 7KH SULPDU\ WKUHVKROGV VKRXOG EH WKH VDPH
:KHQ ORQJ XQORDGHG OLQHV DUH VZLWFKHG RQ D WUDQV
LHQW FKDUJLQJ FXUUHQW RI KLJK PDJQLWXGH DQG KLJKHU ,Q VSHFLDO FDVHV LW FDQ EH DGYDQWDJHRXV WR GHOD\ WKH
IUHTXHQFLHV PD\ RFFXU 7KHVH LQUXVK FXUUHQWV DUH WULS VLJQDO RI WKH SURWHFWLRQ )RU WKLV DQ DGGLWLRQDO
GDPSHG LQ WKH LQSXW FLUFXLWV RI WKH SURWHFWLRQ UHOD\ WLPH GHOD\ FDQ EH VHW DGGUHVV 8QGHU QRUPDO
1HYHUWKHOHVV SLFNXS RI WKH G\QDPLF VWDJH E\ LQ FLUFXPVWDQFHV WKLV WLPH GHOD\ LV VHW WR ]HUR
UXVK FXUUHQWV ZKHQ VZLWFKLQJ RQ FDEOHV VKRXOG EH
, ! ' < 1 & / 2 6 '\QDPLF WULS WKUHVKROG GXULQJ VZLWFKRQ RI WKH OLQH
6HWWLQJ UDQJH k ,1 WR k ,1
, , Q
0 ( $ 6 5 ( 3 ( 7
0HDVXUHPHQW UHSHWLWLRQ
2 ) ) :LWK VHWWLQJ <(6 D IXUWKHU DF SHULRG LV HYDOXDWHG EHIRUH WKH
SURWHFWLRQ WULSV 7KLV LV LQWHQGHG IRU GLIILFXOW PHDVXULQJ FRQGL
2 1 WLRQV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
,I D WULS WLPH GHOD\ KDV EHHQ VHW LQ DGGUHVV WKHQ ,QVWDQWDQHRXV WULS LV RIWHQ GHVLUHG LI DXWRUHFORVXUH
QHYHUWKHOHVV LQVWDQWDQHRXV WULS LV GHVLUHG LQ FDVH RI LV XVHG RQ WKH SURWHFWHG OLQH EHIRUH DQ DXWRUHFORVH
VZLWFKLQJ RQWR D GHDG IDXOW HJ ZKHQ DQ HDUWKLQJ DWWHPSW :KHQ DQ H[WHUQDO DXWRUHFORVXUH GHYLFH LV
LVRODWRUV KDV KDSSHQHG WR UHPDLQ FORVHG $GGUHVV SUHVHQW DGGUHVV GHWHUPLQHV ZKHWKHU D WULS
DOORZV WR SDVV D WULS WLPH GHOD\ E\ $ SUHUHTXL GHOD\ DV VHW XQGHU DGGUHVV LV HIIHFWLYH EHIRUH
VLWH LV WKDW WKH PDQXDO FORVH FRPPDQG IRU WKH DXWRUHFORVXUH $5 67$*( '(/$<(' RU QRW $5
EUHDNHU LV UHSHDWHG YLD D ELQDU\ LQSXW WR WKH UHOD\ VR 67$*( 81'(/$<(' 7KH H[WHUQDO $5 GHYLFH FDQ
WKDW LW LV LQIRUPHG DERXW PDQXDO FORVLQJ RI WKH EUHDN LQIRUP WKH SURWHFWLRQ DERXW LWV UHDGLQHVV YLD WKH
HU ELQDU\ LQSXW l!5$5 5HOHDVHl
7KH 6' LQFOXGHV DQ LQWHJUDWHG LQWHUWULS IXQFWLRQ ZHDN LQIHHG 7KXV LPPHGLDWH GLVFRQQHFWLRQ DW ERWK
HQGV RI WKH OLQH LV HQVXUHG HYHQ IRU WKHVH FDVHV
,I WKHUH LV QR LQIHHG RU RQO\ ZHDN LQIHHG IURP RQH OLQH
HQG D WULS VLJQDO PLJKW QRW EH LQLWLDWHG LQ WKH HYHQW RI $ UHFHLYHG LQWHUWULS VLJQDO FDQ LQLWLDWH DQ DODUP RQO\
D VKRUWFLUFXLW ,Q WKLV FDVH DQ LQWHUWULS VLJQDO FDQ EH /(' RU DODUP UHOD\ RU ERWK RU JLYH D WULS FRP
WUDQVPLWWHG E\ WKH RWKHU HQG DIWHU WKH VKRUWFLUFXLW PDQG GHSHQGLQJ RQ WKH PDUVKDOOLQJ UHIHU WR 6HF
KDV EHHQ UHFRJQL]HG WKHUH WR WKH HQG ZLWK RQO\ WLRQ
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
'DWD IRU WKH WUDQVPLVVLRQ RI SURWHFWLRQ VLJQDOV DGGUHVV EORFN
7KH WUDQVPLVVLRQ SDUDPHWHUV IRU WKH WUDQVPLVVLRQ RI $XWRPDWLF WUDQVPLVVLRQ WLPH FRUUHFWLRQ LV QRW FDU
GDWD IURP RQH OLQH HQG WR WKH RWKHU PXVW EH VHW ULHG RXW DV ORQJ DV WKH OLQH FXUUHQW LV JUHDWHU WKDQ
RI WKH SDUDPHWHUL]HG VWHDG\VWDWH WULS WKUHVK
7KH H[WHUQDO VLJQDO WUDQVPLVVLRQ WLPH IURP RQH OLQH ROG DGGUHVV VLQFH SURWHFWLRQ GDWD FRPPXQL
HQG WR WKH RWKHU PXVW EH FRPSHQVDWHG ZLWKLQ WKH FDWLRQ RI WKH DFWXDO FXUUHQW FRPSDULVRQ IXQFWLRQ KDV
XQLW 7KH LQWHUQDO RSHUDWLQJ WLPHV DUH SUHFRQILJXUHG WKH KLJKHVW SULRULW\ LQ WKLV FDVH
LQ WKH 6' DQG QHHG QRW EH FRQVLGHUHG GXULQJ
VHWWLQJ 7KH H[WHUQDO VLJQDO WUDQVPLVVLRQ WLPHV DUH $GGUHVV GHWHUPLQHV WKH WUDQVPLVVLRQ VSHHG
PHDVXUHG E\ WKH UHOD\ LWVHOI GXULQJ FRPPLVVLRQLQJ IRU WKH SURWHFWLRQ GDWD WUDQVPLVVLRQ 7KLV KDV QRWK
LQJ WR GR ZLWK WKH FRPPXQLFDWLRQ %DXG UDWH IRU FRP
UHIHU WR 6HFWLRQ DQG WKHQ VHW LQ DGGUHVV
PXQLFDWLRQ ZLWK D SHUVRQDO FRPSXWHU DGGUHVV
RU /6$ DGGUHVV DV VHW LQ 6HFWLRQ
$XWRPDWLF WUDQVPLVVLRQ WLPH FRUUHFWLRQ DGGUHVV
FDQ EH SHUIRUPHG LQ WKH UDQJH PV 7KH UHFHLYHG GDWD DUH FRQWLQXRXVO\ PRQLWRUHG ,I WKH
EDVHG RQ WKH YDOXH VHW XQGHU DGGUHVV ,W LV DV GDWD WUDQVPLVVLRQ LV LQWHUUXSWHG WKHQ WKH XQLW ZLOO QRW
VXPHG WKDW JUHDWHU GHYLDWLRQV GR QRW RFFXU GXULQJ WULS LQ WKH HYHQW RI D VKRUWFLUFXLW 7KLV GDWD LQWHUUXS
VHUYLFH WLRQ LV DQQXQFLDWHG E\ WKH 6' 7KH DODUP LV
GHOD\HG WR SUHYHQW HYHU\ IDXOW\ UHFHSWLRQ WHOHJUDP
'HYLDWLRQV RI PRUH WKDQ PV IURP WKH VHW VLJQDO OHDGLQJ WR DQ DODUP 8VXDO WLPH GHOD\V OLH EHWZHHQ
WUDQVPLVVLRQ WLPH RU IURP WKH ODVW DXWRPDWLF WUDQV V DQG V 'XULQJ GDWD IDLOXUH WKH GHYLFH FDQ EH
PLVVLRQ WLPH FRUUHFWLRQ DUH VLJQDOOHG :KHQ GHYL VZLWFKHGRYHU DXWRPDWLFDOO\ WR DQ lHPHUJHQF\ RYHU
DWLRQ RI PRUH WKDQ PV IURP WKH VHW YDOXH RFFXU FXUUHQW WLPH SURWHFWLRQl PRGH
ZLWKRXW DXWRFRUUHFWLRQ RU ZKHQ WKH FRUUHFWLRQ
UDQJH LV H[FHHGHG E\ PRUH WKDQ PV FXUUHQW FRP 7KH GHYLFH LGHQWLILFDWLRQ QXPEHU RI DGGUHVV LV
SDULVRQ SURWHFWLRQ LV EORFNHG WKLV FRQGLWLRQ LV VLJ XVHG LQWHUQDOO\ WR LGHQWLI\ WKH SDLU RI UHOD\V ZKLFK RS
QDOOHG 'XULQJ EORFNLQJ WKH GHYLFH FDQ EH VZLWFKHG HUDWH WRJHWKHU DW WKH WZR OLQH HQGV 7KLV KDV QRWKLQJ
RYHU DXWRPDWLFDOO\ WR DQ lHPHUJHQF\ RYHUFXUUHQW WR GR ZLWK WKH QXPEHUV ZKLFK KDYH EHHQ VHW XQGHU
WLPH SURWHFWLRQl PRGH DGGUHVV GHYLFH DGGUHVV WR UHIHU WR 6HF
WLRQ IRU GDWD WUDQVPLVVLRQ WR /6$ RU D SHUVRQDO
FRPSXWHU
' $ 7 $
%HJLQQLQJ RI EORFN l3URWHFWLRQ GDWD WUDQVPLVVLRQl
7 5 $ 1 6 0 , 6 6 , 2 1
2 1 21 VZLWFKHG RQ
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
' ( 9 , & ( , ' ,GHQWLILFDWLRQ RI WKH GHYLFH SDLU ERWK UHOD\V DW WKH WZR
OLQH HQGV PXVW KDYH WKH VDPH QXPEHU
6HWWLQJ UDQJH WR
6HWWLQJV IRU WKH H[WHUQDO ORFDO WULS IDFLOLW\ DGGUHVV EORFN
$Q\ GHVLUHG VLJQDO FDQ EH FRXSOHG LQWR WKH SURFHVV $ SUHFRQGLWLRQ LV WKDW WKLV IXQFWLRQ KDV EHHQ VHW WR
LQJ RI DQQXQFLDWLRQV DQG WULS FRPPDQGV YLD D ELQDU\ (;7 75,3 (;,67 XQGHU DGGUHVV GXULQJ FRQ
LQSXW RI WKH UHOD\ IURP DQ H[WHUQDO SURWHFWLYH RU VX ILJXUDWLRQ RI WKH GHYLFH IXQFWLRQV UHIHU WR 6HFWLRQ
SHUYLVRU\ GHYLFH /LNH WKH LQWHUQDO WULS VLJQDOV LW FDQ
EH GHOD\HG DQG JLYHQ WR RQH RU PRUH RI WKH WULS UH
OD\V
( ; 7 ( 5 1 $ /
%HJLQQLQJ RI EORFN l([WHUQDO ORFDO WULS IDFLOLW\l
7 5 , 3 ) 8 1 & 7 , 2 1
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
6HWWLQJV IRU WKH WUDQVIHU WULS IDFLOLW\ DGGUHVV EORFN
&XUUHQW FRPSDULVRQ SURWHFWLRQ UHOD\ 6' FRP $ SUHFRQGLWLRQ LV WKDW WKLV IXQFWLRQ KDV EHHQ VHW WR
SULVHV DQ LQWHJUDWHG WUDQVIHU WULS IXQFWLRQ 7KLV FDQ 75$16)75,3 (;,67 XQGHU DGGUHVV GXULQJ
EH XVHG WR WULS WKH FLUFXLW EUHDNHU DW WKH UHPRWH OLQH FRQILJXUDWLRQ RI WKH GHYLFH IXQFWLRQV UHIHU WR 6HF
HQG E\ D FRPPDQG IURP DQ H[WHUQDO VRXUFH HJ D WLRQ
EUHDNHU IDLOXUH SURWHFWLRQ 7KH WUDQVIHU WULS FRP
PDQG LV HQWHUHG WR WKH UHOD\ YLD D ELQDU\ LQSXW 'R QRW FRQIXVH WKH WUDQVIHU WULS IDFLOLW\ ZLWK WKH LQWHU
WULS IXQFWLRQ ZKLFK LV LQWHJUDO SDUW RI WKH FRPSDULVRQ
7UDQVPLVVLRQ RI D WUDQVIHU WULS VLJQDO LV SRVVLEOH IRU SURWHFWLRQ
HDFK GLUHFWLRQ LQGHSHQGHQW RQ HDFK RWKHU
7 6 ( 1 ' ' ( / 6HQG GHOD\ EHIRUH WUDQVIHU WULS VLJQDO WR WKH UHPRWH HQG
V 6HWWLQJ UDQJH V WR V
2 1 21 VZLWFKHG RQ
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
6HWWLQJV IRU HPHUJHQF\ RYHUFXUUHQW WLPH SURWHFWLRQ DGGUHVV EORFN
:KHQ WKH GDWD OLQN WR WKH UHPRWH HQG UHOD\ IDLOV WKH VHOHFWHG LQ DGGUHVV )RU LQYHUVH WLPH D FKRLFH
UHOD\ FDQ VWLOO EH RSHUDWHG DV D GHILQLWH WLPH RU LQ FDQ EH PDGH EHWZHHQ WKUHH WULSSLQJ WLPH FKDUDFWHU
YHUVH WLPH RYHUFXUUHQW SURWHFWLRQ HPHUJHQF\ RYHU LVWLFV GHILQHG LQ ,(&
FXUUHQW IXQFWLRQ UHIHU WR 6HFWLRQ $ SUHFRQGL
WLRQ LV WKDW WKH HPHUJHQF\ SURWHFWLRQ KDV EHHQ FRQIL 7KH SLFNXS YDOXH ,! DGGUHVV IRU GHILQLWH WLPH
JXUHG XQGHU DGGUHVV DV (0(5* 2& (;,67 RU ,S DGGUHVV IRU LQYHUVH WLPH PXVW EH VHW
UHIHU WR 6HFWLRQ DERYH WKH PD[LPXP H[SHFWHG RYHUORDG FXUUHQW
DSSUR[LPDWHO\ WLPHV
7KH SDUDPHWHUV RI WKH HPHUJHQF\ RYHUFXUUHQW WLPH
SURWHFWLRQ DUH VHW LQ EORFN 'LIIHUHQW VWDJHV DUH 7RJHWKHU ZLWK WKH KLJKFXUUHQW VWDJH ,!! D WZR
DYDLODEOH IRU SKDVH FXUUHQWV DQG HDUWK FXUUHQW $GGL VWDJH RYHUFXUUHQW WLPH SURWHFWLRQ LV DFKLHYHG 7KH
WLRQDOO\ SKDVH RYHUFXUUHQW DQG HDUWK RYHUFXUUHQW FRUUHVSRQGLQJ GHOD\ WLPHV 7,!! DGGUHVV
WLPH VWDJHV FDQ EH VZLWFKHG LQGLYLGXDOO\ 21 RU 2)) DQG 7,! DGGUHVV IRU GHILQLWH WLPH RU 7,S
DGGUHVVHV DQG DGGUHVV IRU LQYHUVH WLPH DUH VHW LQ VXFK D ZD\
WKDW WKH\ DOORZ WKH KLJKHVW SRVVLEOH GHJUHH RI VHOHF
WLYLW\ ,Q D ULQJ QHWZRUN IRU H[DPSOH RQH FDQ VHW XS D
GHOLEHUDWH EUHDN SRLQW ZLWK UDSLG LQWHUUXSWLRQ WR DO
3KDVH IDXOW RYHUFXUUHQW WLPH SURWHF ORZ IRU HPHUJHQF\ FDVHV 7KH UHVXOWDQW UDGLDO QHW
WLRQ ZRUNV FDQ EH SURWHFWHG LQ DFFRUGDQFH ZLWK WKH FRQ
YHQWLRQDO SUDFWLFH RI JUDGLQJ RI RYHUFXUUHQW WLPH SUR
$W ILUVW WKH KLJKVHW RYHUFXUUHQW VWDJH ,!! LV VHW XQ WHFWLRQ
GHU DGGUHVVHV DQG 7KLV VWDJH LV DOZD\V D
GHILQLWH WLPH VWDJH LQGHSHQGHQW RQ ZKLFK FKDUDF *HQHUDOO\ LW PXVW EH QRWHG WKDW WKH VHW GHILQLWH WLPHV
WHULVWLF LV VHW IRU WKH RYHUFXUUHQW VWDJH DUH SXUH GHOD\ WLPHV ZKLFK GR QRW LQFOXGH WKH LQ
KHUHQW RSHUDWLRQ WLPH RI WKH SURWHFWLRQ IXQFWLRQV
7KH HPHUJHQF\ RYHUFXUUHQW VWDJH FDQ EH XVHG DV
GHILQLWH WLPH RYHUFXUUHQW SURWHFWLRQ RU LQYHUVH WLPH ,I D VWDJH LV QRW UHTXLUHG WKH DVVRFLDWHG WLPH LV VHW DW
RYHUFXUUHQW SURWHFWLRQ 7KLV IXQFWLRQ PRGH FDQ EH * 7KLV GRHV QRW DYRLG SLFNXS DQQXQFLDWLRQ
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
:KHQ VHWWLQJ WKH HPHUJHQF\ IXQFWLRQ WR LQYHUVH :LWK WKH GHILQLWH WLPH FKDUDFWHULVWLF WKH IXQGDPHQWDO
WLPH RYHUFXUUHQW SURWHFWLRQ LW PXVW EH FRQVLGHUHG ZDYHV RI WKH PHDVXUHG FXUUHQWV DUH HYDOXDWHG IRU
WKDW DFFRUGLQJ WR ,(& WKH SURWHFWLRQ SLFNXS :KHQ RQH RI WKH LQYHUVH WLPH FKDUDFWHULV
SLFNV XS RQO\ ZKHQ PRUH WKDQ W\SLFDOO\ WLFV LV VHOHFWHG D FKRLFH FDQ EH PDGH ZKHWKHU WKH
WLPHV WKH VHW YDOXH LV H[FHHGHG IXQGDPHQWDO ZDYHV :,7+287 +$5021LFV RI WKH
PHDVXUHG FXUUHQWV DUH IRUPHG IRU HYDOXDWLRQ RU LI
7KH WLPH VHWWLQJ FRUUHVSRQGV WR WLPHV WKH XVXDO WKH WUXH UPV YDOXHV :,7+ +$5021,&6 DUH FDOFX
WLPH PXOWLSOLHU 70 HJ ODWHG $V WKH UHOD\ LV XVHG DV VKRUWFLUFXLW SURWHFWLRQ
WKH SUHVHW YDOXH LV UHFRPPHQGHG ,I WKH WLPH JUDG
7S V PHDQV 70
LQJ LV WR EH FRRUGLQDWHG ZLWK FRQYHQWLRQDO UHOD\V
WKXV IRU QRUPDO LQYHUVH ZKLFK RSHUDWH ZLWK WUXH UPV YDOXHV WKHQ :,7+
WWULS V WULSSLQJ WLPH DW WLPHV VHW YDOXH ,S +$5021,&6 FDQ EH DGYDQWDJHRXV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
$GGUHVV GHWHUPLQHV ZKLFK VWDJH LV HIIHFWLYH LI ,W LV DOVR SRVVLEOH WR FDUU\ RXW DXWRUHFORVXUH LQ WKH
WKH FLUFXLW EUHDNHU LV PDQXDOO\ FORVHG $ SUHUHTXL RYHUFXUUHQW SURWHFWLRQ PRGH ZLWK DQ H[WHUQDO DXWR
VLWH LV WKDW WKH PDQXDO FORVH FRPPDQG IRU WKH UHFORVXUH GHYLFH ,Q WKLV FDVH WKH ,!! VWDJH LV RI LQ
EUHDNHU LV UHSHDWHG YLD D ELQDU\ LQSXW WR WKH UHOD\ VR WHUHVW EHFDXVH RI LWV LQGHSHQGHQW WULS WLPH ,I UHFOR
WKDW LW LV LQIRUPHG DERXW PDQXDO FORVLQJ RI WKH EUHDN VXUH LV H[SHFWHG WKH SURWHFWLRQ ZLOO WULS ZLWK WKH XQ
HU ,1())(&7,9( PHDQV WKDW WKH VWDJHV RSHUDWH DF GHOD\HG ,!! VWDJH ILQDO GLVFRQQHFWLRQ LV FDUULHG
FRUGLQJ WR WKH VHWWLQJV LQ DGGUHVVHV WR RXW YLD ,! RU ,S ZLWK 7,! RU 7,S GHOD\HG ,!! DQG
,! VKRXOG WKHQ EH VHW WR WKH VDPH YDOXH $GGUHVV
GHWHUPLQHV ZKHWKHU WKH ,!! VWDJH LQ HIIHFWLYH
RQO\ LQ FRQMXQFWLRQ ZLWK DXWRUHFORVXUH RU ZKHWKHU LW
RSHUDWHV LQGHSHQGHQWO\
(DUWK IDXOW RYHUFXUUHQW WLPH SURWHFWLRQ ,I D VHSDUDWH RYHUFXUUHQW WLPH SURWHFWLRQ IRU HDUWK
IDXOWV LV QRW UHTXLUHG WKH HDUWK FXUUHQW VWDJHV FDQ EH
)RU HDUWK IDXOWV DOO SDUDPHWHUV RI WKH HPHUJHQF\ VZLWFKHG RII LQGHSHQGHQW RI WKH SKDVH FXUUHQW
RYHUFXUUHQW WLPH SURWHFWLRQ FDQ EH VHW VHSDUDWHO\ VWDJHV LQ DGGUHVV
DQG LQGHSHQGHQWO\ 7KLV DOORZV VHSDUDWH WLPH JUDG
LQJ IRU HDUWK IDXOWV ZLWK HJ VKRUWHU WLPHV ,I SDUW IXQFWLRQV DUH QRW UHTXLUHG WKHQ WKH FRUUH
VSRQGLQJ GHOD\ WLPHV DUH VHW DW * 7KLV GRHV QRW
7KH VHWWLQJ SRVVLELOLWLHV DUH WKH VDPH DV IRU SKDVH DYRLG WKH SLFNXS DQQXQFLDWLRQ
FXUUHQWV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
7KH UHOD\ LQFOXGHV D WKHUPDO RYHUORDG SURWHFWLRQ 7KH SHUPLVVLEOH FRQWLQXRXV FXUUHQW GHSHQGV RQ
IXQFWLRQ UHIHU WR 6HFWLRQ 7KLV FDQ RSHUDWH RQO\ FURVVVHFWLRQ LQVXODWLRQ PDWHULDO W\SH RI FRQVWUXF
ZKHQ LW LV FRQILJXUHG WR 7+(50$/ 2/ (;,67 XQ WLRQ DQG PHWKRG RI LQVWDOODWLRQ RI WKH FDEOH HWF ,Q
GHU DGGUHVV GXULQJ FRQILJXUDWLRQ RI WKH GHYLFH JHQHUDO WKH PDJQLWXGH RI WKH FXUUHQW FDQ EH WDNHQ
IXQFWLRQV UHIHU WR 6HFWLRQ IURP ZLGHO\ DYDLODEOH WDEOHV RU RWKHUZLVH LV WR EH
VWDWHG E\ WKH PDQXIDFWXUHU
&DEOHV DUH SDUWLFXODUO\ HQGDQJHUHG E\ RYHUORDGV RI
ORQJHU GXUDWLRQ 7KHVH RYHUORDGV FDQQRW DQG 7KH KHDWLQJXS WLPH FRQVWDQW U GHSHQGV RQ WKH
VKRXOG QRW EH GHWHFWHG E\ WKH VKRUWFLUFXLW SURWHF FDEOH GDWD DQG WKH FDEOH VXUURXQGLQJV ,I WKH WLPH
WLRQ $Q RYHUFXUUHQW WLPH SURWHFWLRQ DV EDFNXS SUR FRQVWDQW LV QRW UHDGLO\ DYDLODEOH LW FDQ EH FDOFXODWHG
WHFWLRQ IRU H[DPSOH PXVW EH VHW VXIILFLHQWO\ KLJK VR IURP WKH VKRUWWHUP RYHUORDG FDSDFLW\ RI WKH FDEOH
DV WR RQO\ GHWHFW VKRUWFLUFXLWV 2QO\ VKRUW GHOD\V DUH )UHTXHQWO\ WKH V FXUUHQW LH WKH PD[LPXP SHUPLV
SHUPLWWHG IRU VKRUWFLUFXLW SURWHFWLRQ 7KHVH VKRUW VLEOH FXUUHQW IRU V GXUDWLRQ LV NQRZQ RU FDQ EH WDN
WLPH GHOD\V KRZHYHU GR QRW SHUPLW PHDVXUHV WR XQ HQ IURP WDEOHV 7KH WLPH FRQVWDQW FDQ WKHQ EH FDOFX
ORDG WKH RYHUORDGHG FDEOH QRU WR XWLOL]H LWV OLPLWHG ODWHG DFFRUGLQJ WR WKH IROORZLQJ IRUPXOD
RYHUORDG FDSDFLW\
7KH FXUUHQW FRPSDULVRQ SURWHFWLRQ UHOD\ 6' LQ 6HWWLQJ YDOXH U >PLQ@
FOXGHV DQ RYHUORDG IXQFWLRQ ZLWK D WKHUPDO WULS FKDU
DFWHULVWLF ZKLFK FDQ EH PDWFKHG WR WKH RYHUORDG FD
k FRQWLQXRXVO\
SHUPLVVLEOH V FXUUHQW
SHUPLVVLEOH FXUUHQW
SDFLW\ RI WKH SURWHFWHG FDEOH 7KLV IXQFWLRQ LV XVXDOO\
QRW UHTXLUHG IRU RYHUKHDG OLQHV DV WKH FXUUHQW FDUU\
LQJ FDSDFLW\ RI RYHUKHDG OLQHV LV JHQHUDOO\ QRW GH ,I WKH VKRUWWHUP RYHUORDG FDSDFLW\ LV VWDWHG IRU D GX
ILQHG UDWLRQ RWKHU WKDQ V WKHQ WKDW VKRUWWHUP FXUUHQW LV
LQVHUWHG LQWR WKH DERYH IRUPXOD LQVWHDG RI WKH V FXU
7KH RYHUORDG SURWHFWLRQ IXQFWLRQ FDQ EH VHW WR EH LQ UHQW +RZHYHU WKH UHVXOW LV WKHQ PXOWLSOLHG ZLWK WKH
RSHUDWLYH RU WR LQLWLDWH WULSSLQJ LQFOXGLQJ DODUP VWDWHG GXUDWLRQ LH LQ FDVH RI D V FXUUHQW
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
%\ VHWWLQJ D ZDUQLQJ WHPSHUDWXUH ULVH DQ DODUP FDQ WR WKH WHPSHUDWXUH ZDUQLQJ LV SUDFWLFDOO\ LQHI
EH RXWSXW EHIRUH WKH WULS WHPSHUDWXUH ULVH LV IHFWLYH
UHDFKHG VR WKDW IRU H[DPSOH E\ SURPSW ORDG VKHG
GLQJ WULSSLQJ PD\ EH SUHYHQWHG $ FKRLFH FDQ EH PDGH ZKHWKHU WKH WHPSHUDWXUH ULVH
ZKLFK LV GHFLVLYH IRU WKH WKUHVKROG VWDJHV LV WKH
$ IXUWKHU FXUUHQW ZDUQLQJ VWDJH LV DYDLODEOH 7KLV FDQ PD[LPXP FDOFXODWHG WHPSHUDWXUH ULVH RI WKH WKUHH
EH VHW DV D IDFWRU RI WKH UDWHG FXUUHQW DQG VKRXOG EH FRQGXFWRUV WKH PHDQ YDOXH RI WKH FDOFXODWHG WHP
HTXDO RU OHVV WKDQ WKH FRQWLQXRXVO\ DGPLVVLEOH FXU SHUDWXUH ULVHV RI WKH WKUHH FRQGXFWRUV RU WKH WHP
UHQW ,W FDQ EH XVHG EHVLGHV WKH WHPSHUDWXUH ZDUQ SHUDWXUH ULVH FDOFXODWHG IURP WKH PD[LPXP FXUUHQW
LQJ VWDJH RU LQVWHDG RI WKDW :KHQ VHWWLQJ 3ZDUQ3WULS RI WKH WKUHH FRQGXFWRUV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
7KH GLIIHUHQW PRQLWRULQJ IXQFWLRQV RI WKH SURWHFWLYH LI GXULQJ RSHUDWLRQ RQH RU PRUH PRQLWRULQJ IXQF
UHOD\ DUH GHVFULEHG LQ 6HFWLRQ 7KH\ SDUWO\ WLRQV UHDFW VSRUDGLFDOO\ WKHQ VHQVLWLYLW\ VKRXOG EH
PRQLWRU WKH UHOD\ LWVHOI SDUWO\ WKH VWHDG\VWDWH PHD UHGXFHG
VXUHG YDOXHV RI WKH WUDQVIRUPHU FLUFXLWV
127( 3UHUHTXLVLWH IRU FRUUHFW IXQFWLRQ RI WKH PHD
7KH VHQVLWLYLW\ RI WKH PHDVXUHG YDOXHV PRQLWRULQJ VXUHG YDOXH PRQLWRUV LV WKH SURSHU VHWWLQJ RI WKH JHQ
FDQ EH FKDQJHG LQ EORFN 7KH IDFWRU\ VHWWLQJV DUH HUDO SRZHU V\VWHP GDWD 6HFWLRQ HVSHFLDOO\
VXIILFLHQW LQ PRVW FDVHV ,I SDUWLFXODUO\ KLJK RSHUD WKH SDUDPHWHU FRQFHUQLQJ WKH HDUWK FXUUHQW PDWFK
WLRQDO DV\PPHWULHV RI WKH FXUUHQWV DUH H[SHFWHG RU LQJ IDFWRU DGGUHVV
0 ( $ 6 9 $ / 8 ( %HJLQQLQJ RI EORFN
l0HDVXUHG YDOXH VXSHUYLVLRQl
6 8 3 ( 5 9 , 6 , 2 1
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
$QQXQFLDWLRQV
,QWURGXFWLRQ
$IWHU D QHWZRUN IDXOW DQQXQFLDWLRQV DQG PHVVDJHV 3UHVV NH\ 06 0 VWDQGV IRU lPHVVDJHVl 6 IRU
SURYLGH D VXUYH\ RI LPSRUWDQW IDXOW GDWD DQG WKH IXQF lVLJQDOVl WKHQ WKH DGGUHVV DSSHDUV DXWR
WLRQ RI WKH UHOD\ DQG VHUYH IRU FKHFNLQJ VHTXHQFHV PDWLFDOO\ DV WKH EHJLQQLQJ RI WKH DQQXQFLDWLRQ
RI IXQFWLRQDO VWHSV GXULQJ WHVWLQJ DQG FRPPLVVLRQ EORFNV
LQJ )XUWKHU WKH\ SURYLGH LQIRUPDWLRQ DERXW WKH FRQ
GLWLRQ RI PHDVXUHG GDWD DQG WKH UHOD\ LWVHOI GXULQJ )RU FRQILJXUDWLRQ RI WKH WUDQVIHU RI DQQXQFLDWLRQV YLD
QRUPDO RSHUDWLRQ WKH VHULDO LQWHUIDFHV WKH QHFHVVDU\ GDWD KDG EHHQ
HQWHUHG LQ DGGUHVV EORFN VHH 6HFWLRQ
7R UHDG RXW UHFRUGHG DQQXQFLDWLRQV QR FRGHZRUG
7KH DQQXQFLDWLRQV DUH DUUDQJHG DV IROORZV
LQSXW LV QHFHVVDU\
%ORFN 2SHUDWLRQDO DQQXQFLDWLRQV WKHVH DUH
7KH DQQXQFLDWLRQV JHQHUDWHG LQ WKH UHOD\ DUH SUHV
PHVVDJHV ZKLFK FDQ DSSHDU GXULQJ WKH
HQWHG LQ YDULRXV ZD\V RSHUDWLRQ RI WKH UHOD\ LQIRUPDWLRQ DERXW
FRQGLWLRQ RI UHOD\ IXQFWLRQV PHDVXUH
/(' LQGLFDWLRQV LQ WKH IURQW SODWH RI WKH UHOD\ )LJ PHQW GDWD HWF
XUH
%ORFN (YHQW DQQXQFLDWLRQV IRU WKH ODVW IDXOW SLFN
%LQDU\ RXWSXWV RXWSXW UHOD\V YLD WKH FRQQHFWLRQV XS WULS H[SLUHG WLPHV RU VLPLODU $V GH
RI WKH UHOD\ ILQHG D QHWZRUN IDXOW EHJLQV ZLWK SLFNXS
RI DQ\ IDXOW GHWHFWRU DQG HQGV DIWHU GURS
,QGLFDWLRQV LQ WKH GLVSOD\ RQ WKH IURQW SODWH RU RQ RII RI WKH ODVW SURWHFWLRQ IXQFWLRQ
WKH VFUHHQ RI D SHUVRQDO FRPSXWHU YLD WKH RSHUDW
LQJ LQWHUIDFH %ORFN (YHQW DQQXQFLDWLRQV IRU WKH SUHYLRXV QHW
ZRUN IDXOW DV EORFN
7UDQVPLVVLRQ YLD WKH VHULDO LQWHUIDFH WR ORFDO RU UH
PRWH FRQWURO IDFLOLWLHV LI DYDLODEOH %ORFN (YHQW DQQXQFLDWLRQV IRU WKH ODVW EXW WZR
QHWZRUN IDXOW DV EORFN
0RVW RI WKHVH DQQXQFLDWLRQV FDQ EH UHODWLYHO\ IUHHO\
DOORFDWHG WR WKH /('V DQG ELQDU\ RXWSXWV VHH 6HF %ORFN $QQXQFLDWLRQV IRU &% RSHUDWLRQ VWDWLVWLFV
WKDW LV FRXQWHUV IRU WULSSLQJ FRPPDQGV
WLRQ $OVR ZLWKLQ VSHFLILF OLPLWDWLRQV JURXS DQG
WRJHWKHU ZLWK DFFXPXODWHG VKRUW FLUFXLW
PXOWLSOH LQGLFDWLRQV FDQ EH IRUPHG
FXUUHQWV RI HDFK EUHDNHU SROH
7R FDOO XS DQQXQFLDWLRQV RQ WKH RSHUDWRU SDQHO WKH %ORFN ,QGLFDWLRQ RI RSHUDWLRQDO PHDVXUHG YDO
IROORZLQJ SRVVLELOLWLHV H[LVW XHV FXUUHQWV DW WKH ORFDO OLQH HQG
%ORFN SDJLQJ ZLWK WKH NH\V Â IRUZDUGV RU Ä EDFN %ORFN ,QGLFDWLRQ RI RSHUDWLRQDO PHDVXUHG YDO
ZDUGV XS WR DGGUHVV XHV FXUUHQWV DW WKH UHPRWH OLQH HQG
'LUHFW VHOHFWLRQ ZLWK DGGUHVV FRGH XVLQJ NH\ '$ %ORFN ,QGLFDWLRQ RI RSHUDWLRQDO PHDVXUHG YDO
DGGUHVV DQG H[HFXWH ZLWK NH\ ( XHV RYHUORDG SURWHFWLRQ GDWD
$ FRPSUHKHQVLYH OLVW RI WKH SRVVLEOH DQQXQFLDWLRQV DQG RXWSXW IXQFWLRQV ZLWK WKH DVVRFLDWHG IXQFWLRQ QXPEHU
)1R LV JLYHQ LQ $SSHQGL[ & ,W LV DOVR LQGLFDWHG WR ZKLFK GHYLFH HDFK DQQXQFLDWLRQ FDQ EH URXWHG
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
2SHUDWLRQDO DQG VWDWXV DQQXQFLDWLRQV FRQWDLQ LQIRU $IWHU VHOHFWLRQ RI WKH DGGUHVV E\ GLUHFW VHOHF
PDWLRQ ZKLFK WKH XQLW SURYLGHV GXULQJ RSHUDWLRQ DQG WLRQ ZLWK '$ ( DQGRU SDJLQJ ZLWK Â RU Ä
DERXW WKH RSHUDWLRQ 7KH\ EHJLQ DW DGGUHVV DQG IXUWKHU VFUROOLQJ RU WKH RSHUDWLRQDO DQQXQFL
,PSRUWDQW HYHQWV DQG VWDWXV FKDQJHV DUH FKURQR DWLRQV DSSHDU 7KH ER[HV EHORZ VKRZ DOO DYDLODEOH
ORJLFDOO\ OLVWHG VWDUWLQJ ZLWK WKH PRVW UHFHQW PHV RSHUDWLRQDO DQQXQFLDWLRQV ,Q HDFK VSHFLILF FDVH RI
VDJH 7LPH LQIRUPDWLRQ LV VKRZQ LQ KRXUV DQG PLQ FRXUVH RQO\ WKH DVVRFLDWHG DQQXQFLDWLRQV DSSHDU LQ
XWHV 8S WR RSHUDWLRQDO LQGLFDWLRQV FDQ EH VWRUHG WKH GLVSOD\
,I PRUH RFFXU WKH ROGHVW DUH HUDVHG LQ VHTXHQFH
1H[W WR WKH ER[HV EHORZ WKH DEEUHYLDWHG IRUPV DUH
)DXOWV LQ WKH QHWZRUN DUH RQO\ LQGLFDWHG DV l6\VW H[SODLQHG ,W LV LQGLFDWHG ZKHWKHU DQ HYHQW LV DQ
)OWl WRJHWKHU ZLWK WKH VHTXHQFH QXPEHU RI WKH QRXQFHG RQ RFFXUUHQFH & l&RPLQJl RU D VWDWXV
IDXOW 'HWDLOHG LQIRUPDWLRQ DERXW WKH KLVWRU\ RI WKH LV DQQRXQFHG l&RPLQJl DQG l*RLQJl &*
IDXOW LV FRQWDLQHG LQ EORFNV l)DXOW DQQXQFLDWLRQVl UH
IHU 6HFWLRQ 7KH ILUVW OLVWHG PHVVDJH LV DV H[DPSOH DVVLJQHG
ZLWK GDWH DQG WLPH LQ WKH ILUVW OLQH WKH VHFRQG OLQH
7KH LQSXW RI WKH FRGHZRUG LV QRW UHTXLUHG VKRZV WKH EHJLQQLQJ RI D FRQGLWLRQ ZLWK WKH FKDUDF
WHU & WR LQGLFDWH WKDW WKLV FRQGLWLRQ RFFXUUHG DW WKH
GLVSOD\HG WLPH
,I WKH UHDO WLPH FORFN LV QRW DYDLODEOH WKH GDWH LV UHSODFHG E\ 444444 WKH WLPH LV JLYHQ DV UHODWLYH WLPH IURP WKH
ODVW UHVWDUW RI WKH SURFHVVRU V\VWHP
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
)XUWKHU PHVVDJHV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
7KH DQQXQFLDWLRQV ZKLFK RFFXUUHG GXULQJ WKH ODVW SDJLQJ ZLWK WKH NH\V Â RU Ä :LWK WKH NH\V RU RQH
WKUHH QHWZRUN IDXOWV FDQ EH UHDG RII RQ WKH IURQW SDQ FDQ SDJH WKH LQGLYLGXDO DQQXQFLDWLRQV IRUZDUGV RU
HO RU YLD WKH RSHUDWLQJ LQWHUIDFH 7KH LQGLFDWLRQV DUH EDFNZDUGV (DFK DQQXQFLDWLRQ LV DVVLJQHG ZLWK D
UHFRUGHG LQ WKH VHTXHQFH IURP WKH \RXQJHVW WR WKH VHTXHQFH LWHP QXPEHU
ROGHVW XQGHU DGGUHVVHV DQG :KHQ
D IXUWKHU IDXOW RFFXUV WKH GDWD UHODWLQJ WR WKH ROGHVW ,Q WKH IROORZLQJ FODULILFDWLRQ DOO WKH DYDLODEOH IDXOW DQ
DUH HUDVHG (DFK IDXOW GDWD EXIIHU FDQ FRQWDLQ XS WR QXQFLDWLRQV DUH LQGLFDWHG ,Q WKH FDVH RI D VSHFLILF
DQQXQFLDWLRQV IDXOW RI FRXUVH RQO\ WKH DVVRFLDWHG DQQXQFLDWLRQV
DSSHDU LQ WKH GLVSOD\
,QSXW RI WKH FRGHZRUG LV QRW UHTXLUHG
$W ILUVW DQ H[DPSOH LV JLYHQ IRU D V\VWHP IDXOW DQG
7R FDOO XS WKH ODVW IDXOW GDWD RQH JRHV WR DGGUHVV H[SODLQHG
HLWKHU E\ GLUHFW DGGUHVV '$ ( RU E\
P V
& & 3 7 U L S / &
P V
' H Y ' U R S R I I &
HWF
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
) D X O W %HJLQQLQJ RI IDXOW
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
)XUWKHU PHVVDJHV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
7KH GDWD RI WKH VHFRQG WR ODVW V\VWHP IDXOW FDQ EH IRXQG XQGHU DGGUHVV 7KH DYDLODEOH DQQXQFLDWLRQV DUH
WKH VDPH DV IRU WKH ODVW IDXOW
HWF
7KH GDWD RI WKH WKLUG WR ODVW V\VWHP IDXOW FDQ EH IRXQG XQGHU DGGUHVV 7KH DYDLODEOH DQQXQFLDWLRQV DUH WKH
VDPH DV IRU WKH ODVW IDXOW
HWF
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
7KH QXPEHU RI WULS FRPPDQGV LQLWLDWHG E\ 6' LV GUHVV 7KH DGGUHVV FDQ EH UHDFKHG E\ GLUHFW
FRXQWHG VHSDUDWHO\ IRU HDFK RI WKH EUHDNHU SROHV DGGUHVVLQJ '$ ( RU E\ SDJLQJ ZLWK WKH
$OVR WKH LQWHUUXSWHG FXUUHQWV DUH VWDWHG IRU HDFK LQ NH\V Â RU Ä XQWLO DGGUHVV LV UHDFKHG 7KH FRXQW
GLYLGXDO SROH DQG JLYHQ XQGHU WKH IDXOW DQQXQFL HUV FDQ EH FDOOHG XS XVLQJ WKH NH\ IRU IRUZDUGV
DWLRQV UHIHU 6HFWLRQ IROORZLQJ HDFK WULS FRP SDJLQJ RU IRU EDFNZDUGV SDJLQJ
PDQG 7KHVH FXUUHQWV DUH DFFXPXODWHG DQG VWRUHG
&RXQWHU VWDWXV DQG VWRUHV DUH VHFXUHG DJDLQVW DX[LO (QWU\ RI WKH FRGHZRUG LV QRW UHTXLUHG IRU UHDGRII RI
LDU\ YROWDJH IDLOXUH DQG FDQ EH UHDG RII XQGHU DG FRXQWHU VWDWHV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
7KH VWHDG\VWDWH UPV RSHUDWLQJ YDOXHV RI WKH ORFDO DQG LQ SHUFHQW RI WKH UDWHG GHYLFH YDOXHV 7R HQVXUH
OLQH HQG FDQ EH UHDG RXW DW DQ\ WLPH XQGHU WKH DG FRUUHFW SULPDU\ YDOXHV WKH UDWHG GDWD PXVW KDYH
GUHVV EORFN 7KH DGGUHVV FDQ EH FDOOHG XS GLUHFW EHHQ HQWHUHG WR WKH GHYLFH XQGHU DGGUHVV EORFN
O\ XVLQJ '$ ( RU E\ SDJLQJ ZLWK Â RU Ä 7KH DV GHVFULEHG LQ 6HFWLRQ
LQGLYLGXDO PHDVXUHG YDOXHV FDQ EH IRXQG E\ IXUWKHU
SDJLQJ ZLWK RU (QWU\ RI WKH FRGHZRUG LV QRW QHF ,Q WKH IROORZLQJ H[DPSOH VRPH H[DPSOH YDOXHV KDYH
HVVDU\ 7KH YDOXHV ZLOO EH XSGDWHG LQ DSSUR[LPDWHO\ EHHQ LQVHUWHG ,Q SUDFWLFH WKH DFWXDO YDOXHV DSSHDU
WR VHFRQGV LQWHUYDOV 7KH ORFDO PHDVXUHG YDOXHV
DUH LGHQWLILHG E\ WKH LQGH[ lDl $GGUHVV EORFN VKRZV IXUWKHU RSHUDWLRQDO YDOXHV
WKH FDOFXODWHG YDOXHV RI WKH RYHUORDG SURWHFWLRQ
7KH PHDVXUHG YDOXHV RI WKH UHPRWH OLQH HQG FDQ EH 7KHVH YDOXHV DUH DYDLODEOH DV ORQJ DV WKH WKHUPDO
UHDG RXW LQ DGGUHVV EORFN WKH\ FDUU\ WKH LQGH[ RYHUORDG SURWHFWLRQ LV FRQILJXUHG DV 7+(50$/ 2/
lEl (;,67 DGGUHVV DQG VZLWFKHG RQ DGGUHVV
7KH GDWD DUH GLVSOD\HG LQ DEVROXWH SULPDU\ YDOXHV
8VH NH\ WR PRYH WR WKH QH[W DGGUHVV ZLWK WKH QH[W PHDVXUHG YDOXH
0 ( $ 6 9 $ / 8 (
, ( D $
0 ( $ 6 9 $ / 8 (
7KH SHUFHQWDJH LV UHODWHG RQ UDWHG FXUUHQW
, / D > @
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
0 ( $ 6 9 $ / 8 (
, / D > @
0 ( $ 6 9 $ / 8 (
, / D > @
0 ( $ 6 9 $ / 8 (
, ( D > @
0 ( $ 6 9 $ / 8 (
, ( E $
0 ( $ 6 9 $ / 8 (
7KH SHUFHQWDJH LV UHODWHG RQ UDWHG FXUUHQW
, / E > @
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
0 ( $ 6 9 $ / 8 (
, / E > @
0 ( $ 6 9 $ / 8 (
, / E > @
0 ( $ 6 9 $ / 8 (
, ( E > @
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
(UURUV LQ WKH SURWHFWLRQ GDWD SURWRFRO PD\ EH 7KH DGGUHVV FDQ EH UHDFKHG E\ GLUHFW DGGUHVVLQJ
FDXVHG E\ LQWHUIHUHQFHV GXULQJ WUDQVPLVVLRQ IURP '$ ( RU E\ SDJLQJ ZLWK WKH NH\V Â RU Ä XQWLO
RQH OLQH HQG WR WKH RWKHU 6XFK HYHQWV DUH UHFRJ DGGUHVV LV UHDFKHG 7KH FRXQWHUV FDQ EH
QL]HG E\ WKH UHOD\ 7KH QXPEHU RI GLSV SHU KRXU LV FDOOHG XS XVLQJ WKH NH\
FRXQWHG VWRUHG DQG VHFXUHG DJDLQVW DX[LOLDU\ YROW
DJH IDLOXUH ,W FDQ EH UHDG RII XQGHU DGGUHVV EORFN (QWU\ RI WKH FRGHZRUG LV QRW UHTXLUHG IRU UHDGRII RI
FRXQWHU VWDWH
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
'XULQJ RSHUDWLRQ RI WKH SURWHFWLRQ UHOD\ LW PD\ EH GH ,Q RUGHU WR FRQWURO IXQFWLRQV YLD ELQDU\ LQSXWV LW LV
VLUHG WR LQWHUYHQH LQ IXQFWLRQV RU DQQXQFLDWLRQV PDQ QHFHVVDU\ WKDW WKH ELQDU\ LQSXWV KDYH EHHQ PDU
XDOO\ RU IURP V\VWHP FULWHULD 6' FRPSULVHV IDFL VKDOOHG WR WKH FRUUHVSRQGLQJ VZLWFKLQJ IXQFWLRQV
OLWLHV HJ WR UHDGMXVW WKH UHDO WLPH FORFN WR HUDVH GXULQJ FRQILJXUDWLRQ RI WKH GHYLFH DQG WKDW WKH\ KDYH
VWRUHG LQIRUPDWLRQV DQG HYHQW FRXQWHUV WR VZLWFK RQ EHHQ FRQQHFWHG UHIHU 6HFWLRQ 0DUVKDOOLQJ RI
RU RII SDUWLDO IXQFWLRQV XQGHU VSHFLILF FRQGLWLRQV RU WKH ELQDU\ LQSXWV
WR FKDQJH RYHU SUHVHOHFWHG VHWV RI IXQFWLRQ SDUDPH
WHUV 7KH VFRSH RI RSHUDWLRQDO FRQWURO IDFLOLWLHV GH 7KH FRQWURO IDFLOLWLHV EHJLQ ZLWK DGGUHVV EORFN
SHQGV RQ WKH RUGHUHG VFRSH RI IXQFWLRQV RI WKH GH 7KLV DGGUHVV LV UHDFKHG
YLFH
E\ EORFN SDJLQJ ZLWK WKH NH\V Â IRUZDUGV RU Ä
)XQFWLRQV FDQ EH FRQWUROOHG IURP WKH RSHUDWLQJ SDQ EDFNZDUGV XS WR DGGUHVV RU
HO RQ WKH IURQW RI WKH GHYLFH YLD WKH RSHUDWLQJ RU V\V
WHP LI DYDLODEOH LQWHUIDFH DV ZHOO DV YLD ELQDU\ LQ E\ GLUHFW VHOHFWLRQ ZLWK DGGUHVV FRGH XVLQJ NH\
SXWV '$ DGGUHVV DQG H[HFXWH ZLWK NH\ (
$GMXVWLQJ DQG V\QFKURQL]LQJ WKH UHDO WLPH FORFN DGGUHVV EORFN
7KH GDWH DQG WLPH FDQ EH DGMXVWHG DW DQ\ WLPH GXU 6HOHFWLRQ RI WKH LQGLYLGXDO DGGUHVVHV LV E\ IXUWKHU
LQJ RSHUDWLRQ DV ORQJ DV WKH UHDO WLPH FORFN LV RSHUD VFUROOLQJ XVLQJ DV VKRZQ EHORZ (DFK PRGLILFD
WLYH 6HWWLQJ LV FDUULHG RXW LQ EORFN ZKLFK LV WLRQ PXVW EH FRQILUPHG ZLWK WKH HQWHU NH\ (
UHDFKHG E\ GLUHFW DGGUHVVLQJ '$ ( RU E\
SDJLQJ ZLWK Â DQG Ä ,QSXW RI WKH FRGHZRUG LV UH
TXLUHG WR FKDQJH WKH GDWD
(QWHU WKH QHZ GDWH GLJLWV IRU GD\ GLJLWV IRU PRQWK
' $ 7 ( DQG GLJLWV IRU \HDU LQFOXGLQJ FHQWXU\ XVH WKH RUGHU
DV FRQILJXUHG XQGHU DGGUHVV 6HFWLRQ EXW
DOZD\V XVH D GRW IRU VHSDUDWRU
''00<<<< RU 00''<<<<
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
7KH VWDWLVWLFDO LQGLFDWLRQV 6HFWLRQ DGGUHVV :LWK WKH H[FHSWLRQ RI UHVHWWLQJ WKH /(' LQGLFDWLRQV
EORFN DUH VWRUHG LQ ((3520V LQ WKH GHYLFH 7KH\ DGGUHVV FRGHZRUG HQWU\ LV QHFHVVDU\ WR
DUH QRW WKHUHIRUH HUDVHG LI WKH DX[LOLDU\ SRZHU VXSSO\ HUDVH WKH VWRUHG LWHPV 5HVHW LV VHSDUDWH IRU WKH GLI
IDLOV $GGLWLRQDOO\ DQQXQFLDWLRQV DQG WKH VWDWXV RI IHUHQW JURXSV RI FRXQWHUV PHPRULHV DQG DQQXQFL
WKH /(' PHPRULHV DUH VWRUHG LQ 19 5$0V DQG WKXV DWLRQV 2QH UHDFKHV WKH LQGLYLGXDO LWHPV E\ SDJLQJ
VDYHG SURYLGHG WKH EDFNXS EDWWHU\ LV LQVWDOOHG (UDVXUH UHTXLUHV FRQILUPDWLRQ ZLWK WKH NH\ -<
7KHVH VWRUHV FDQ EH FOHDUHG LQ EORFN %ORFN LV 7KH GLVSOD\ WKHQ FRQILUPV WKH HUDVXUH ,I HUDVXUH LV
FDOOHG XS E\ SDJLQJ ZLWK WKH NH\V Â RU Ä RU GLUHFWO\ E\ QRW UHTXLUHG SUHVV NH\ 1 RU VLPSO\ SDJH RQ
NH\LQJ LQ WKH FRGH '$ (
'XULQJ HUDVXUH RI WKH VWRUHV ZKLFK PD\ WDNH VRPH WLPH WKH GLVSOD\ VKRZV 7$6. ,1 352*5(66 $IWHU HUDVXUH
WKH UHOD\ DFNQRZOHGJHV HUDVXUH HJ
5 ( 6 ( 7
6 8 & & ( 6 6 ) 8 /
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
:KHQ WKH UHOD\ LV FRQQHFWHG WR D FHQWUDO VWRUDJH GH DGGUHVV DQGRU 9'(: &203$7
YLFH RU ORFDOL]HG VXEVWDWLRQ DXWRPDWLRQ V\VWHP DQG ,%/( RU 9'(: (;7(1'(' 7KH EORFN LV FDOOHG XS E\
WKH SURWRFRO DFFRUGLQJ 9'(:=9(, ,(& SDJLQJ ZLWK WKH NH\V Â RU Ä RU GLUHFWO\ E\ NH\LQJ LQ
LV XVHG WKHQ WKH LQIRUPDWLRQV ZKLFK DUH WKH FRGH '$ ( 8VH NH\ WR VFUROO WR DG
WUDQVPLWWHG WR WKH FHQWUDO FRPSXWLQJ V\VWHP FDQ EH GUHVV %\ SUHVVLQJ WKH l1RlNH\ 1 WKH SRVL
LQIOXHQFHG WLRQV RI WKLV VZLWFK DUH FKDQJHG 7KH GHVLUHG SRVL
WLRQ PXVW EH FRQILUPHG ZLWK WKH HQWHU NH\ (
(QWU\ RI WKH FRGHZRUG LV QHFHVVDU\ IRU WKLV UHIHU WR
6HFWLRQ $V ZLWK HYHU\ VHWWLQJV RI WKH GHYLFH IRU ZKLFK FRGH
ZRUG LQSXW LV QHFHVVDU\ FRGHZRUG RSHUDWLRQ PXVW
7KH VWDQGDUGL]HG SURWRFRO DOORZV DOO DQQXQFLDWLRQV EH WHUPLQDWHG 7KLV LV GRQH E\ XVLQJ WKH NH\ FRPEL
PHVVDJHV DQG PHDVXUHG YDOXHV WR EH WDJJHG ZLWK QDWLRQ ) ( LH GHSUHVVLQJ WKH IXQFWLRQ NH\ ) IRO
WKH RULJLQ lWHVW RSHUDWLRQl ZKLFK RFFXU ZKLOH WKH ORZHG E\ WKH HQWU\ NH\ ( 7KH GLVSOD\ VKRZV WKH
UHOD\ LV WHVWHG 7KXV WKHVH PHVVDJHV FDQ EH GLVWLQ TXHVWLRQ l6$9( 1(: 6(77,1*6"l &RQILUP ZLWK
JXLVKHG IURP WKRVH ZKLFK RFFXU GXULQJ UHDO RSHUD WKH l<HVlNH\ -< WKDW WKH QHZ VHWWLQJV VKDOO EH
WLRQ FRPH YDOLG QRZ ,I \RX SUHVV WKH l1RlNH\ 1 LQ
VWHDG FRGHZRUG RSHUDWLRQ ZLOO EH DERUWHG LH DOO DO
,Q RUGHU WR DFFRPSOLVK WKLV VZLWFKRYHU DGGUHVV WHUDWLRQV ZKLFK KDYH EHHQ FKDQJHG VLQFH WKH ODVW
EORFN LV DYDLODEOH SURYLGHG WKH 9'(:=9(, SURWR FRGHZRUG HQWU\ DUH ORVW 7KXV HUURQHRXV DOWHUDWLRQV
FRO ,(& KDV EHHQ FKRVHQ GXULQJ FDQ EH PDGH LQHIIHFWLYH
FRQILJXUDWLRQ RI WKH VHULDO V\VWHP LQWHUIDFH 6HFWLRQ
'R QRW IRUJHW WR VZLWFK DGGUHVV EDFN WR 6<6 7(67 2)) DIWHU KDYLQJ ILQLVKHG WHVW RSHUDWLRQV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
8S WR GLIIHUHQW VHWV RI SDUDPHWHUV FDQ EH VHOHFWHG 7KH FRUUHVSRQGLQJ SURFHGXUH LV XVHG IRU WKH RWKHU
IRU WKH IXQFWLRQDO SDUDPHWHUV LH WKH DGGUHVVHV SDUDPHWHU VHWV
DERYH DQG EHORZ 7KHVH SDUDPHWHU VHWV
FDQ EH VZLWFKHG RYHU GXULQJ RSHUDWLRQ ORFDOO\ XVLQJ - .H\ FRPELQDWLRQ )
WKH RSHUDWRU SDQHO RU YLD WKH RSHUDWLQJ LQWHUIDFH XV DFFHVV WR SDUDPHWHU VHW $
LQJ D SHUVRQDO FRPSXWHU RU DOVR UHPRWHO\ XVLQJ
ELQDU\ LQSXWV RU WKH V\VWHP LQWHUIDFH - .H\ FRPELQDWLRQ )
DFFHVV WR SDUDPHWHU VHW %
7KH ILUVW SDUDPHWHU VHW LV LGHQWLILHG DV VHW $ WKH RWKHU
VHWV DUH % & DQG ' (DFK RI WKHVH VHWV KDV EHHQ VHW - .H\ FRPELQDWLRQ )
GXULQJ SDUDPHWHUL]LQJ 6HFWLRQ SURYLGHG DFFHVV WR SDUDPHWHU VHW &
WKH VZLWFKRYHU IDFLOLW\ LV XVHG
- .H\ FRPELQDWLRQ )
DFFHVV WR SDUDPHWHU VHW '
5HDGRXW RI VHWWLQJV RI D SDUDPHWHU 7KH UHOD\ RSHUDWHV DOZD\V ZLWK WKH DFWLYH SDUDPHWHU
VHW VHW HYHQ GXULQJ UHDGRXW RI WKH SDUDPHWHUV RI DQ\
GHVLUHG SDUDPHWHU VHW 7KH FKDQJHRYHU SURFHGXUH
,Q RUGHU WR ORRN XS WKH VHWWLQJV RI D SDUDPHWHU VHW LQ GHVFULEHG KHUH LV WKHUHIRUH RQO\ YDOLG IRU UHDGRXW
WKH GLVSOD\ LW LV VXIILFLHQW WR JR WR DQ\ DGGUHVV RI WKH RI SDUDPHWHUV LQ WKH GLVSOD\
IXQFWLRQ SDUDPHWHUV LH DGGUHVVHV DERYH DQG
EHORZ HLWKHU E\ GLUHFW DGGUHVVLQJ XVLQJ NH\
'$ HQWHULQJ WKH IRXUILJXUH DGGUHVV FRGH DQG WHUPL &KDQJHRYHU RI WKH DFWLYH SDUDPHWHU
QDWLQJ ZLWK HQWHU NH\ ( RU E\ SDJLQJ WKURXJK WKH GLV VHW IURP WKH RSHUDWLQJ SDQHO
SOD\ ZLWK Â RU Ä <RX FDQ VZLWFKRYHU WR ORRN XS D GLI
IHUHQW SDUDPHWHU VHW HJ )RU FKDQJH RYHU WR D GLIIHUHQW SDUDPHWHU VHW LH LI
D GLIIHUHQW VHW VKDOO EH DFWLYDWHG WKH DGGUHVV EORFN
3UHVV NH\ FRPELQDWLRQ ) LH ILUVW WKH IXQFWLRQ LV WR EH XVHG )RU WKLV FRGHZRUG HQWU\ LV UH
NH\ ) DQG WKHQ WKH QXPEHU NH\ $OO GLVSOD\HG TXLUHG
SDUDPHWHUV QRZ UHIHU WR SDUDPHWHU VHW %
7KH EORFN IRU SURFHVVLQJ SDUDPHWHU VHWV LV UHDFKHG
7KH SDUDPHWHU VHW LV LQGLFDWHG LQ WKH GLVSOD\ E\ D E\ SUHVVLQJ WKH GLUHFW DGGUHVV NH\ '$ IROORZHG E\
OHDGLQJ FKDUDFWHU $ WR ' EHIRUH WKH DGGUHVV QXP WKH DGGUHVV DQG HQWHU NH\ ( RU E\ SDJLQJ
EHU LQGLFDWLQJ WKH SDUDPHWHU VHW LGHQWLILFDWLRQ WKURXJK WKH GLVSOD\ ZLWK Â RU Ä 7KH KHDGLQJ RI WKH
EORFN ZLOO DSSHDU
,W LV SRVVLEOH WR VFUROO WKURXJK WKH LQGLYLGXDO DGGUHVV $V ZLWK HYHU\ VHWWLQJV RI WKH GHYLFH IRU ZKLFK FRGH
HV XVLQJ WKH NH\ RU WR VFUROO EDFNZDUGV ZLWK ZRUG LQSXW LV QHFHVVDU\ FRGHZRUG RSHUDWLRQ PXVW
EH WHUPLQDWHG 7KLV LV GRQH E\ XVLQJ WKH NH\ FRPEL
$GGUHVV VKRZV WKH DFWXDOO\ DFWLYH SDUDPHWHU QDWLRQ ) ( LH GHSUHVVLQJ WKH IXQFWLRQ NH\ ) IRO
VHW ZLWK ZKLFK WKH UHOD\ RSHUDWHV ORZHG E\ WKH HQWU\ NH\ ( 7KH GLVSOD\ VKRZV WKH
TXHVWLRQ l6$9( 1(: 6(77,1*6 "l &RQILUP ZLWK
,Q RUGHU WR VZLWFKRYHU WR D GLIIHUHQW SDUDPHWHU VHW WKH l<HVlNH\ -< WKDW WKH QHZ VHWWLQJV VKDOO EH
VFUROO RQ ZLWK WR DGGUHVV 8VLQJ WKH FRPH YDOLG QRZ ,I \RX SUHVV WKH l1RlNH\ 1 LQ
l1RlNH\ 1 \RX FDQ FKDQJH WR DQ\ GHVLUHG SDUDP VWHDG FRGHZRUG RSHUDWLRQ ZLOO EH DERUWHG LH DOO DO
HWHU VHW DOWHUQDWLYHO\ \RX FDQ GHFLGH WKDW WKH SD WHUDWLRQV ZKLFK KDYH EHHQ FKDQJHG VLQFH WKH ODVW
UDPHWHU VHWV DUH WR EH VZLWFKHG RYHU IURP ELQDU\ LQ FRGHZRUG HQWU\ DUH ORVW 7KXV HUURQHRXV DOWHUDWLRQV
SXWV RU YLD WKH V\VWHP LQWHUIDFH ,I WKH GHVLUHG VHW RU FDQ EH PDGH LQHIIHFWLYH
SRVVLELOLW\ DSSHDUV LQ WKH GLVSOD\ SUHVV WKH HQWHU
NH\ (
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
6 ( 7 %
6 ( 7 &
6 ( 7 '
,I \RX VHOHFW 6(7 %< %,1,1387 WKHQ WKH SDUDPHWHU
6 ( 7 % < % , 1 , 1 3 8 7 VHW FDQ EH FKDQJHGRYHU YLD ELQDU\ LQSXWV VHH 6HF
WLRQ
6 ( 7 % < / 6 $ & 2 1 7 5 ,I \RX VHOHFW 6(7 %< /6$ &2175 WKHQ WKH SDUDPHWHU
VHW FDQ EH VHOHFWHG YLD WKH V\VWHP LQWHUIDFH XVLQJ WKH
9'(:=9(, SURWRFRO ,(&
ORJLFDO ELQDU\ LQSXWV DUH DYDLODEOH IRU FRQWURO RI 7DEOH 3DUDPHWHU VHOHFWLRQ YLD ELQDU\ LQSXW
WKH SDUDPHWHU VHWV 7KHVH ELQDU\ LQSXWV DUH
GHVLJQDWHG l!3DUDP6HOHFl )1R DQG
l!3DUDP 6HOHFl )1R
6HOHFWRU VZLWFK IRU
7KH ORJLFDO ELQDU\ LQSXWV PXVW EH DOORFDWHG WR SDUDP VHW
SK\VLFDO LQSXW PRGXOHV UHIHU 6HFWLRQ LQ RU $
GHU WR DOORZ FRQWURO $Q LQSXW LV WUHDWHG DV QRW HQ %
HUJL]HG ZKHQ LW LV QRW DVVLJQHG WR DQ\ SK\VLFDO LQ / /
&
SXW
' %LQDU\ LQSXW
7KH FRQWURO LQSXW VLJQDOV PXVW EH FRQWLQXRXVO\ !3DUDP6HOHF
SUHVHQW DV ORQJ DV WKH VHOHFWHG SDUDPHWHU VHW
VKDOO EH DFWLYH $
%
7KH DFWLYH SDUDPHWHU VHWV DUH DVVLJQHG WR WKH ORJLFDO / &
ELQDU\ LQSXWV DV VKRZQ LQ 7DEOH /
'
%LQDU\ LQSXW
$ VLPSOLILHG FRQQHFWLRQ H[DPSOH LV VKRZQ LQ )LJXUH !3DUDP6HOHF
2I FRXUVH WKH ELQDU\ LQSXWV PXVW EH GHFODUHG LQ
QRUPDOO\ RSHQ l12l PRGH )LJXUH &RQQHFWLRQ VFKHPH IRU SDUDPHWHU
FKDQJHRYHU YLD ELQDU\ LQSXWV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
*HQHUDO
3UHUHTXLVLWH IRU FRPPLVVLRQLQJ LV WKH FRPSOHWLRQ RI ,W LV UHFRPPHQGHG WKDW WKH DFWXDO VHWWLQJV IRU WKH
WKH SUHSDUDWLRQ SURFHGXUHV GHWDLOHG LQ &KDSWHU UHOD\ EH XVHG IRU WKH WHVWLQJ SURFHGXUH ,I WKHVH YDO
XHV DUH QRW \HW DYDLODEOH WHVW WKH UHOD\ ZLWK WKH IDF
WRU\ VHWWLQJV ,Q WKH IROORZLQJ GHVFULSWLRQ RI WKH WHVW
:DUQLQJ VHTXHQFH WKH SUHVHW VHWWLQJV DUH DVVXPHG XQOHVV
RWKHUZLVH QRWHG IRU GLIIHUHQW VHWWLQJ YDOXHV IRUPX
+D]DUGRXV YROWDJHV DUH SUHVHQW LQ WKLV ODH DUH JLYHQ ZKHUH QHFHVVDU\
HOHFWULFDO HTXLSPHQW GXULQJ RSHUDWLRQ
1RQREVHUYDQFH RI WKH VDIHW\ UXOHV FDQ
)RU WKH IXQFWLRQDO WHVW D VLQJOHSKDVH FXUUHQW VRXUFH
UHVXOW LQ VHYHUH SHUVRQDO LQMXU\ RU SURSHU
W\ GDPDJH LV VXIILFLHQW +RZHYHU LI XQV\PPHWULFDO FXUUHQWV RF
FXU GXULQJ WKH WHVWV LW LV OLNHO\ WKDW WKH DV\PPHWU\
2QO\ TXDOLILHG SHUVRQQHO VKDOO ZRUN RQ PRQLWRULQJ ZLOO IUHTXHQWO\ RSHUDWH 7KLV LV RI QR FRQ
DQG DURXQG WKLV HTXLSPHQW DIWHU EHFRP FHUQ EHFDXVH WKH FRQGLWLRQ RI VWHDG\VWDWH PHD
LQJ WKRURXJKO\ IDPLOLDU ZLWK DOO ZDUQLQJV VXUHG YDOXHV LV PRQLWRUHG DQG XQGHU QRUPDO RSHU
DQG VDIHW\ QRWLFHV RI WKLV PDQXDO DV ZHOO DWLQJ FRQGLWLRQV WKHVH DUH V\PPHWULFDO XQGHU VKRUW
DV ZLWK WKH DSSOLFDEOH VDIHW\ UHJXODWLRQV FLUFXLW FRQGLWLRQV WKHVH PRQLWRULQJ V\VWHPV DUH QRW
HIIHFWLYH
3DUWLFXODU DWWHQWLRQ PXVW EH GUDZQ WR WKH
IROORZLQJ 127( 7KH DFFXUDF\ ZKLFK FDQ EH DFKLHYHG GXULQJ
WHVWLQJ GHSHQGV RQ WKH DFFXUDF\ RI WKH WHVWLQJ
7KH HDUWKLQJ VFUHZ RI WKH GHYLFH HTXLSPHQW 7KH DFFXUDF\ YDOXHV VSHFLILHG LQ WKH
PXVW EH FRQQHFWHG VROLGO\ WR WKH 7HFKQLFDO GDWD FDQ RQO\ EH UHSURGXFHG XQGHU WKH
SURWHFWLYH HDUWK FRQGXFWRU EHIRUH UHIHUHQFH FRQGLWLRQV VHW GRZQ LQ ,(& UHVS
DQ\ RWKHU FRQQHFWLRQ LV PDGH
9'( SDUW DQG ZLWK WKH XVH RI SUHFLVLRQ
+D]DUGRXV YROWDJHV FDQ EH SUHVHQW PHDVXULQJ LQVWUXPHQWV 7KH WHVWV DUH WKHUHIRUH WR EH
RQ DOO FLUFXLWV DQG FRPSRQHQWV FRQ
ORRNHG XSRQ SXUHO\ DV IXQFWLRQDO WHVWV
QHFWHG WR WKH VXSSO\ YROWDJH RU WR WKH
PHDVXULQJ DQG WHVW TXDQWLWLHV
'XULQJ DOO WKH WHVWV LW LV LPSRUWDQW WR HQVXUH WKDW WKH
+D]DUGRXV YROWDJHV FDQ EH SUHVHQW
FRUUHFW FRPPDQG WULS FRQWDFWV FORVH WKDW WKH
LQ WKH GHYLFH HYHQ DIWHU GLVFRQQHF
WLRQ RI WKH VXSSO\ YROWDJH VWRUDJH SURSHU LQGLFDWLRQV DSSHDU DW WKH /('V DQG WKH RXW
FDSDFLWRUV SXW UHOD\V IRU UHPRWH VLJQDOOLQJ ,I WKH UHOD\ LV FRQ
7KH OLPLW YDOXHV JLYHQ LQ WKH 7HFKQL QHFWHG WR D FHQWUDO PHPRU\ GHYLFH YLD WKH VHULDO LQ
FDO GDWD 6HFWLRQ PXVW QRW EH H[ WHUIDFH FRUUHFW FRPPXQLFDWLRQ EHWZHHQ WKH UHOD\
FHHGHG DW DOO QRW HYHQ GXULQJ WHVWLQJ DQG WKH PDVWHU VWDWLRQ PXVW EH FKHFNHG
DQG FRPPLVVLRQLQJ
$IWHU WHVWV ZKLFK FDXVH /(' LQGLFDWLRQV WR DSSHDU
:KHQ WHVWLQJ WKH XQLW ZLWK D VHFRQGDU\ LQMHFWLRQ WHVW
WKHVH VKRXOG EH UHVHW DW OHDVW RQFH E\ HDFK RI WKH
VHW LW PXVW EH HQVXUHG WKDW QR RWKHU PHDVXUHG YDO
SRVVLEOH PHWKRGV WKH UHVHW EXWWRQ RQ WKH IURQW SODWH
XHV DUH FRQQHFWHG DQG WKDW WKH WULSSLQJ OHDGV WR WKH
DQG YLD WKH UHPRWH UHVHW UHOD\ VHH FRQQHFWLRQ GLD
FLUFXLW EUHDNHU WULSFRLOV KDYH EHHQ LQWHUUXSWHG
JUDPV $SSHQGL[ $ ,I WKH UHVHW IXQFWLRQV KDYH EHHQ
WHVWHG UHVHWWLQJ WKH VWRUHG LQGLFDWLRQV LV QR PRUH
'$1*(5 QHFHVVDU\ DV WKH\ DUH HUDVHG DXWRPDWLFDOO\ ZLWK
HDFK QHZ SLFNXS RI WKH UHOD\ DQG UHSODFHG E\ WKH
6HFRQGDU\ FRQQHFWLRQV RI WKH FXUUHQW QHZ DQQXQFLDWLRQV
WUDQVIRUPHUV PXVW EH VKRUWFLUFXLWHG
EHIRUH WKH FXUUHQW OHDGV WR WKH UHOD\ DUH
LQWHUUXSWHG
,I D WHVW VZLWFK LV LQVWDOOHG ZKLFK DXWRPDWL
FDOO\ VKRUWFLUFXLWV WKH FXUUHQW WUDQVIRUPHU
VHFRQGDU\ OHDGV LW LV VXIILFLHQW WR VHW WKLV
VZLWFK WR WKH l7HVWl SRVLWLRQ 7KH VKRUWFLU
FXLW VZLWFK PXVW EH FKHFNHG EHIRUHKDQG
UHIHU WR 6HFWLRQ
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
)RU WHVWLQJ WKH FRPSDULVRQ SURWHFWLRQ WKLV IXQFWLRQ 7KH WULS VLJQDO LV UHVHW DSSUR[LPDWHO\ DW [ ,1 IDF
PXVW KDYH EHHQ SDUDPHWHUL]HG DV RSHUDWLYH LH WRU\ VHWWLQJ
&&3 )81&7 21 XQGHU DGGUHVV FRQGLWLRQ
DV GHOLYHUHG IURP IDFWRU\ )RU DQ\ RWKHU VHWWLQJ WULSSLQJ LV LQLWLDWHG IURP DS
SUR[LPDWHO\ WKH VHW YDOXH IRU ,!6767$7( DGGUHVV
:KHQ WHVWLQJ DQ LQGLYLGXDO XQLW WKH RXWSXW RI WKH SUR
WHFWLRQ WUDQVPLVVLRQ GDWD WR WKH RSSRVLWH HQG PXVW
EH GLUHFWO\ FRQQHFWHG WR WKH LQSXW RI WKH SURWHFWLRQ
UHFHLYH GDWD IURP WKH RSSRVLWH HQG 7HVWLQJ LV QRW
SRVVLEOH ZLWKRXW WKLV IHHGEDFN VLQFH WKH XQLW ZRXOG 7HVWLQJ WKH G\QDPLF WULSSLQJ WKUHVKROG
EH EORFNHG GXH WR WUDQVPLVVLRQ IDLOXUH
$GMXVW WKH WHVW FXUUHQW WR [ ,1 ,QFUHDVH FXUUHQW
:KHQ WHVWLQJ WZR XQLWV WKH GDWD WUDQVPLVVLRQ RXW DEUXSWO\ WR [ ,1 7ULSSLQJ LV LQLWLDWHG DQG SLFNXS
SXW RI HDFK XQLW LV FRQQHFWHG WR WKH GDWD UHFHLYH LQ RI WKH WHVWHG SKDVH LV DQQXQFLDWHG DV XQGHU
SXW RI WKH RWKHU XQLW UHVSHFWLYHO\ %RWK XQLWV PXVW EH
FRQQHFWHG WR WKH DX[LOLDU\ YROWDJH ,Q WKLV FDVH WKH
VHFRQG XQLW FDQ UXQ ZLWKRXW D WHVW FXUUHQW WKXV VLP )RU WKH FRXQWHUFKHFN WKH WHVW FXUUHQW LV LQFUHDVHG
XODWLQJ D OLQH VKRUWFLUFXLW ZLWK VLQJOHHQGHG LQIHHG IURP [ ,1 WR [ ,1 7KH XQLW VKRXOG QRW SLFNXS
RU WKH WHVW FXUUHQW LV LQMHFWHG LQWR ERWK XQLWV HLWKHU LQ
SKDVH LQWHUQDO VKRUWFLUFXLW RU LQ SKDVH RSSRVLWLRQ )RU DQ\ RWKHU VHWWLQJ WKH WHVW FXUUHQW IRU WKH WULSSLQJ
H[WHUQDO VKRUWFLUFXLW WHVW LV DGMXVWHG WR DSSUR[LPDWHO\ ,!'<1 DG
GUHVV DQG DEUXSWO\ LQFUHDVHG E\ [ VHW YDO
7KH IROORZLQJ GHVFULSWLRQ UHIHUV WR WHVWLQJ DQ LQGLYLG XH IRU ,!'<1 )RU WKH FRXQWHUFKHFN WKH DEUXSW LQ
XDO XQLW ZLWK WKH SURWHFWLRQ GDWD WUDQVPLVVLRQ RXWSXW FUHDVH LV IURP WKH VHW YDOXH ,!'<1 E\ [ VHW YDOXH
FRQQHFWHG EDFN LQWR WKH SURWHFWLRQ GDWD UHFHLYH LQ IRU ,!'<1
SXW
,I WKH WHVW FDQQRW EH SHUIRUPHG LQ WKH SUHVFULEHG
&DXWLRQ IRUP EHFDXVH WKH WHVW FXUUHQW FDQQRW EH VXGGHQO\
LQFUHDVHG WKHQ WKH WHVW FXUUHQW LV VZLWFKHG IURP WR
7HVW FXUUHQWV ODUJHU WKDQ WLPHV ,1 PD\ ,1 JHQHUDOO\ [ VHW YDOXH ,!'<1 &/26 DG
RYHUORDG DQG GDPDJH WKH UHOD\ LI DSSOLHG GUHVV
FRQWLQXRXVO\ UHIHU WR 6HFWLRQ IRU
RYHUORDG FDSDELOLW\ 2EVHUYH D FRROLQJ
GRZQ SHULRG
7HVWLQJ WKH WLPH GHOD\
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
)RU WHVWLQJ WKH HPHUJHQF\ RYHUFXUUHQW WLPH SURWHF :KHQ WKH WHVW FXUUHQW LV LQMHFWHG YLD RQH SKDVH DQG
WLRQ WKH SURWHFWLRQ GDWD OLQN LV LQWHUUXSWHG $GGUHVV WKH HDUWK SDWK DQG WKH VHW YDOXH IRU ,(! DGGUHVV
(0(5* 2& PXVW EH VZLWFKHG WR (;,67 LV H[FHHGHG WKH SLFNXS LQGLFDWLRQ IRU ,(! DS
SHDUV ZLWK IXUWKHU LQFUHDVH DERYH WKH SLFNXS YDOXH
RI WKH SKDVH FXUUHQW VWDJH DGGUHVV ,! SLFN
7HVWLQJ WKH KLJKVHW RYHUFXUUHQW XS LQGLFDWLRQ DSSHDUV IRU WKH WHVWHG SKDVH
VWDJHV ,!! ,(!!
$IWHU H[SLU\ RI WKH WLPH GHOD\ DGGUHVV 7,(!
,Q RUGHU WR WHVW WKH SKDVH FXUUHQW VWDJHV WKLV IXQF IRU WKH HDUWK FXUUHQW SDWK DGGUHVV 7,! IRU WKH
WLRQ PXVW EH VZLWFKHG RQ LH DGGUHVV SKDVH SDWK WULS VLJQDO LV JLYHQ
(0(52& 3 21 IRU HDUWK FXUUHQW WHVW DGGUHVV
(0(52& ( 21 7KH UHVHW YDOXH VKRXOG OLH DW DSSUR[LPDWHO\ RI
WKH SLFNXS YDOXH
7HVWLQJ FDQ EH SHUIRUPHG ZLWK VLQJOHSKDVH WZR
SKDVH RU WKUHHSKDVH WHVW FXUUHQW ,W PXVW EH QRWHG WKDW WKH VHW WLPHV DUH SXUH GHOD\
WLPHV RSHUDWLQJ WLPHV RI WKH PHDVXUHPHQW IXQF
WLRQV DUH QRW LQFOXGHG
&DXWLRQ
7HVW FXUUHQWV ODUJHU WKDQ WLPHV ,1 PD\
RYHUORDG DQG GDPDJH WKH UHOD\ LI DSSOLHG
FRQWLQXRXVO\ UHIHU WR 6HFWLRQ IRU 7HVWLQJ WKH LQYHUVH WLPH RYHUFXUUHQW
RYHUORDG FDSDELOLW\ 2EVHUYH D FRROLQJ VWDJHV ,S ,(S
GRZQ SHULRG
)RU WKHVH WHVWV WKH UHODWHG IXQFWLRQV PXVW EH
VZLWFKHG RQ DGGUHVV DQGRU IXUWKHU
)RU WHVWLQJ WKH ,!! VWDJHV WKHUHIRUH PHDVXUHPHQW PRUH RQH RI WKH ,19(56( WLPH PRGHV PXVW EH VH
VKDOO EH SHUIRUPHG G\QDPLFDOO\ ,W VKRXOG EH VWDWHG OHFWHG LQ DGGUHVVHV DQGRU DGGUHVV
WKDW WKH UHOD\ SLFNV XS DW WLPHV VHWWLQJ YDOXH DQG
GRHV QRW DW WLPHV VHWWLQJ YDOXH 7HVWLQJ FDQ EH SHUIRUPHG ZLWK VLQJOHSKDVH WZR
SKDVH RU WKUHHSKDVH WHVW FXUUHQW
:KHQ WKH WHVW FXUUHQW LV LQMHFWHG YLD RQH SKDVH DQG
WKH HDUWK SDWK DQG WKH VHW YDOXH IRU ,(!! DGGUHVV )RU WHVW FXUUHQW EHORZ [ ,1 VORZO\ LQFUHDVH WKH WHVW
LV H[FHHGHG WKH SLFNXS LQGLFDWLRQ IRU ,(!! FXUUHQW RYHU RQH SKDVH DQG HDUWK XQWLO WKH SURWHFWLRQ
DSSHDUV ZLWK LQFUHDVH DERYH WKH SLFNXS YDOXH RI SLFNV XS
WKH SKDVH FXUUHQW VWDJH DGGUHVV ,!! SLFNXS
LQGLFDWLRQ DSSHDUV IRU WKH WHVWHG SKDVH &DXWLRQ
7HVW FXUUHQWV ODUJHU WKDQ WLPHV ,1 PD\
$IWHU H[SLU\ RI WKH WLPH GHOD\ DGGUHVV 7
RYHUORDG DQG GDPDJH WKH UHOD\ LI DSSOLHG
,(!! IRU WKH HDUWK FXUUHQW SDWK DGGUHVV 7 FRQWLQXRXVO\ UHIHU WR 6HFWLRQ IRU
,!! IRU WKH SKDVH SDWK WULS VLJQDO LV JLYHQ RYHUORDG FDSDELOLW\ 2EVHUYH D FRROLQJ
GRZQ SHULRG
,W PXVW EH QRWHG WKDW WKH VHW WLPHV DUH SXUH GHOD\
WLPHV RSHUDWLQJ WLPHV RI WKH PHDVXUHPHQW IXQF :KHQ WKH WHVW FXUUHQW LV LQMHFWHG YLD RQH SKDVH DQG
WLRQV DUH QRW LQFOXGHG WKH HDUWK SDWK DQG WKH VHW YDOXH IRU ,(S DGGUHVV
LV H[FHHGHG E\ DSSUR[LPDWHO\ WLPHV WKH
SLFNXS YDOXH LQGLFDWLRQ IRU ,(S DSSHDUV ZLWK IXUWKHU
LQFUHDVH DERYH WLPHV WKH VHW YDOXH RI WKH SKDVH
7HVWLQJ WKH GHILQLWH WLPH RYHUFXUUHQW FXUUHQW VWDJH DGGUHVV ,S SLFNXS LQGLFDWLRQ
VWDJHV ,! ,(! DSSHDUV IRU WKH WHVWHG SKDVH
)RU WKHVH WHVWV WKH UHODWHG IXQFWLRQV PXVW EH 7KH WLPH GHOD\ GHSHQGV RQ ZKLFK FKDUDFWHULVWLF KDV
VZLWFKHG RQ DV DERYH IXUWKHUPRUH WKH '(),1,7( EHHQ VHOHFWHG LQ DGGUHVVHV DQGRU DQG
7,0( PRGH PXVW EH VHOHFWHG LQ DGGUHVVHV WKH VHW WLPH PXOWLSOLHU LQ DGGUHVVHV DQGRU
DQGRU DGGUHVV 7KH H[SHFWHG WLPH GHOD\V FDQ EH FDOFXODWHG
IURP WKH IRUPXOD JLYHQ LQ WKH WHFKQLFDO GDWD RU UHDG
7HVWLQJ FDQ EH SHUIRUPHG ZLWK VLQJOHSKDVH WZR IURP WKH FKDUDFWHULVWLF FXUYHV LQ )LJXUH VHH 6HF
SKDVH RU WKUHHSKDVH WHVW FXUUHQW WLRQ
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
7KH RYHUORDG SURWHFWLRQ FDQ RQO\ EH WHVWHG LI LW KDV ,W LV DOVR SRVVLEOH WR FKHFN WKH WULS FKDUDFWHULVWLF )LJ
EHHQ FRQILJXUHG DV 7+(50$/ 2/ (;,67 DGGUHVV XUH ,W PXVW EH QRWHG WKDW EHIRUH HDFK PHDVXUH
UHIHU WR 6HFWLRQ DQG SDUDPHWHUL]HG DV PHQW WKH WHPSHUDWXUH ULVH PXVW EH UHGXFHG WR ]HUR
RSHUDWLYH XQGHU DGGUHVV 7KLV FDQ EH DFKLHYHG E\ HLWKHU GHDFWLYDWLQJ DQG UH
DFWLYDWLQJ WKH RYHUORDG IXQFWLRQ DGGUHVV RU
7KH EDVLV FXUUHQW IRU WKH GHWHFWLRQ RI RYHUORDG LV DO E\ REVHUYLQJ D FXUUHQW IUHH SHULRG RI DW OHDVW l U
ZD\V WKH UDWHG FXUUHQW RI WKH GHYLFH 2YHUORDG GDWD
DUH FDOFXODWHG IRU HDFK LQGLYLGXDO SKDVH &DXWLRQ
:KHQ DSSO\LQJ WKH UDWHG FXUUHQW IDFWRU\ VHWWLQJV 7HVW FXUUHQWV ODUJHU WKDQ WLPHV ,1 PD\
WULSSLQJ PXVW QRW RFFXU $IWHU DQ DSSURSULDWH WLPH RYHUORDG DQG GDPDJH WKH UHOD\ LI DSSOLHG
DSSUR[LPDWHO\ l U D VWHDG\VWDWH WHPSHUDWXUH FRQWLQXRXVO\ UHIHU WR 6HFWLRQ IRU
ULVH DFFRUGLQJ WR WKH IROORZLQJ UHODWLRQVKLS LV HVWDE RYHUORDG FDSDELOLW\ 2EVHUYH D FRROLQJ
OLVKHG GRZQ SHULRG
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
$OO VHFRQGDU\ WHVWLQJ VHWV DQG HTXLSPHQW PXVW EH :LWK GLUHFW RSWLFDO ILEUH FRQQHFWLRQ WUDQVPLVVLRQ
UHPRYHG 5HFRQQHFW FXUUHQW WUDQVIRUPHUV )RU WHVW WLPH FRPSHQVDWLRQ LV QRW UHTXLUHG VLQFH WKH UXQ
LQJ ZLWK SULPDU\ YDOXHV WKH OLQH PXVW EH HQHUJL]HG WLPHV HQFRXQWHUHG ZLWK WKH PD[LPXP GLVWDQFHV
SHUPLVVLEOH IRU WKLV DSSOLFDWLRQ DUH IDU EHORZ SHUPLV
VLEOH OLPLWV
:DUQLQJ
,I RWKHU WUDQVPLVVLRQ PHWKRGV DUH HPSOR\HG DQG WKH
3ULPDU\ WHVWV VKDOO EH SHUIRUPHG RQO\ E\ GLVWDQFH GRHV QRW H[FHHG NP WKHQ RQO\ WKH WLPH
TXDOLILHG SHUVRQQHO ZKLFK LV WUDLQHG LQ GHOD\ FDXVHG E\ WKH FRXSOLQJ GHYLFHV DQG LQWHUPH
FRPPLVVLRQLQJ RI SURWHFWLRQ V\VWHPV DQG GLDWH DPSOLILHUV LI DSSOLFDEOH QHHG EH FRQVLGHUHG ,I
IDPLOLDU ZLWK WKH RSHUDWLRQ RI WKH SURWHFWHG WKH VLJQDO WUDQVPLVVLRQ WLPH GRHV QRW H[FHHG
REMHFW DV ZHOO DV WKH UXOHV DQG UHJXODWLRQV PV FRPSHQVDWLRQ LV QRW UHTXLUHG 7KH WUDQVPLV
VZLWFKLQJ HDUWKLQJ HWF VLRQ WLPH FDQ EH PHDVXUHG E\ WKH UHOD\ LWVHOI
7R FRQILUP WUDQVPLVVLRQ WLPH PHDVXUHPHQW SUHVV *HQHUDOO\ WKH WUDQVPLVVLRQ WLPH LV GLVSOD\HG LPPH
WKH l<HVlNH\ -< 7KLV VWDUWV WUDQVPLVVLRQ WLPH GLDWHO\ DIWHU WUDQVPLVVLRQ WLPH WHVWLQJ KDV EHHQ LQLWL
PHDVXUHPHQW 7KH SURWHFWLRQ XQLW ILUVWO\ FKHFNV DWHG ,I DQRWKHU WHVWLQJ SURFHGXUH LV LQ SURJUHVV DW
ZKHWKHU WKH XQLW DW WKH RSSRVLWH HQG LV UHDG\ ,W WKHQ WKH RSSRVLWH HQG RU LI WKH SURWHFWLRQ GDWD WUDQVPLV
VHQGV D PHDVXUHPHQW WHOHJUDP YLD WKH SURWHFWLRQ VLRQ OLQN RU WKH XQLW DW WKH RSSRVLWH HQG LV QRW RSHUD
GDWD WUDQVPLVVLRQ OLQN ZKLFK LV UHIOHFWHG DW WKH RSSR WLRQDO WKHQ WUDQVPLVVLRQ WLPH PHDVXUHPHQW FDQQRW
VLWH HQG :KHQ WKH UHIOHFWHG WHOHJUDP LV UHFHLYHG SURFHHG DQG D UHVSHFWLYH PHVVDJH LV DQQXQFLDWHG
WKH H[WHUQDO WUDQVPLVVLRQ WLPH RI WKH SURWHFWLRQ GDWD RQ WKH GLVSOD\
OLQN FDQ EH GHWHUPLQHG 7KH SURWHFWLRQ IXQFWLRQ LV
EORFNHG GXULQJ WKH WUDQVPLVVLRQ WLPH PHDVXUH
PHQW
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
7HVWLQJ VWRSV DXWRPDWLFDOO\ DIWHU WKH PHDVXUHPHQW WHOHJUDP KDV EHHQ WUDQVPLWWHG DQG UHFHLYHG
7KH PHDVXUHG WUDQVPLVVLRQ WLPH RI WKH SURWHFWLRQ GDWD WUDQVPLVVLRQ OLQN LV WKHQ VHW XQGHU DGGUHVV l
7'(/$< EDl
7KH FRUUHFW FRQQHFWLRQ RI WKH FXUUHQW WUDQVIRUPHUV LV FDWHG LQ DGGUHVV EORFN DQG FDQ EH FRPSDUHG
WHVWHG ZLWK ORDG FXUUHQW $ ORDG FXUUHQW RI DW OHDVW ZLWK WKRVH DW WKH ORFDO HQG
l ,1 LV UHTXLUHG IRU WKH WHVW
)RU WKH FXUUHQW WUDQVIRUPHU FRQQHFWLRQ FKHFN WKH
7KH OLQH LV FRQQHFWHG DW ERWK HQGV 7KH ORDG FXUUHQW SKDVH SRVLWLRQ RI WKH FXUUHQWV DW WKH ORFDO HQG FDQ EH
FDQ EH UHDG RXW XQGHU DGGUHVV EORFN ,I WKH SUR FRPSDUHG ZLWK RQH DQRWKHU
WHFWLRQ GDWD WUDQVPLVVLRQ OLQN LV RSHUDWLRQDO WKHQ
WKH ORDG FXUUHQWV DW WKH RSSRVLWH HQG DUH DOVR LQGL 7KHVH WHVWV EHJLQ DW DGGUHVV
7HVWLQJ LV LQLWLDWHG E\ FRQILUPLQJ ZLWK WKH l<HVlNH\ PHDVXUHPHQW LV QRW FDUULHG RXW DQG D FRUUHVSRQG
-< LQJ PHVVDJH LV GLVSOD\HG
*HQHUDOO\ WKH DQJOH LV GLVSOD\HG LPPHGLDWHO\ DIWHU 7KH SKDVH SRVLWLRQ RI WKH SKDVH FXUUHQWV LV LQGL
WHVWLQJ KDV EHHQ LQLWLDWHG ,I WKH ORDG FXUUHQW LV WRR FDWHG ZLWK GHJUHHV LQFUHPHQW LQ PDWKHPDWLFDO
VPDOO RU D QHWZRUN IDXOW LV EHLQJ SURFHVVHG DQJOH SRVLWLYH VHTXHQFH
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
,I WKH UHVXOWV RI DOO WKUHH PHDVXUHPHQWV VKRZ ,I GLIIHUHQW DQJOH YDOXHV DUH GLVSOD\HG FRQQHFWLRQV
LQVWHDG RI WKH H[SHFWHG HLWKHU WZR SKDVHV DUH RI LQGLYLGXDO FXUUHQW WUDQVIRUPHUV DUH ZURQJ 7DEOH
LQWHUFKDQJHG RU WKH QHWZRUN URWDWLRQ LV FRXQWHU VKRZV SRVVLEOH LQWHUFKDQJHV IRU FORFNZLVH
FORFNZLVH WKLV LV SHUPLVVLEOH SKDVH VHTXHQFH 7DEOH IRU FRXQWHUFORFNZLVH
SKDVH VHTXHQFH
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
6ZLWFK RII DQG HDUWK WKH OLQH *HQHUDOO\ WKH DQJOH LV GLVSOD\HG LPPHGLDWHO\ DIWHU
6KRUWFLUFXLW WKH FXUUHQW WUDQVIRUPHUV WHVWLQJ KDV EHHQ LQLWLDWHG ,I D WHVWLQJ SURFHGXUH LV LQ
SURJUHVV DW WKH RSSRVLWH HQG LI WKH GDWD WUDQVPLV
&RUUHFW WKH FW FRQQHFWLRQV VLRQ OLQN RU WKH XQLW LV QRW UHDG\ IRU RSHUDWLRQ RU LI WKH
5HFKHFN WKH SKDVH DQJOH PHDVXUHPHQW DV GH ORDG FXUUHQW LV WRR VPDOO D FRUUHVSRQGLQJ PHVVDJH
VFULEHG DERYH LV GLVSOD\HG
1H[W WKH SKDVH SRVLWLRQ RI WKH WKUHH SKDVHFXUUHQWV ,Q RUGHU WR GHWHUPLQH WKH SKDVH SRVLWLRQ RI WKH FXU
DW WKH ORFDO HQG DUH WR EH FRPSDUHG ZLWK WKH SKDVH UHQWV WKH SKDVH FXUUHQWV DW ERWK HQGV RI WKH OLQH DUH
SRVLWLRQ RI WKH UHVSHFWLYH FXUUHQWV DW WKH RSSRVLWH DVVLJQHG WKHLU SRODULW\ DW HDFK VDPSOLQJ SRLQW 7KH
HQG ,I UHTXLUHG WKH WUDQVPLVVLRQ WLPH RI WKH SURWHF GLVSODFHPHQW RI WKH FKDQJH LQ SRODULW\ RI WKH WHVWHG
WLRQ GDWD WUDQVPLVVLRQ OLQN PXVW KDYH EHHQ FRPSHQ FXUUHQWV LV HYDOXDWHG XQGHU FRQVLGHUDWLRQ RI WKH FXU
VDWHG HJ E\ WHVWLQJ DGGUHVV DQG LI UH UHQW WUDQVIRUPHU VWDUSRLQW IRUPDWLRQ DGGUHVV
TXLUHG VHWWLQJ DGGUHVV RI WKH SURWHFWLRQ GDWD
OLQN WUDQVPLVVLRQ WLPH
,I WKH GLVSOD\ VKRZV LQVWHDG RI WKH H[SHFWHG : E LQ RQH SKDVH PHDQV ZURQJ SRODULW\ LQ WKLV
IRU DOO WKUHH FDVHV WKH FXUUHQW SRODULW\ LV ZURQJ DW SKDVH DW WKH RSSRVLWH OLQH HQG
RQH OLQH HQG 5HYHUW WKH SRODULW\ E\ FKDQJLQJ WKH SD : ZLWK RU SKDVHV DUH LQWHUFKDQJHG DW WKH
UDPHWHU LQ DGGUHVV RSSRVLWH OLQH HQG
: ZLWK RU SRODULW\ DQG SKDVH DVVLJQPHQW
,I WKH GLVSOD\ VKRZV IRU DW OHDVW RQH SKDVH UH DUH ZURQJ DW WKH RSSRVLWH OLQH HQG
YHUW WKH FXUUHQW SRODULW\ LQ DGGUHVV DW RQH OLQH
HQG DQG UHSHDW WKH FKHFN IURP DGGUHVV RQ ,I DQJOHV DUH GLIIHUHQW SRODULWLHV DQG SKDVHV DUH
ZURQJ
,I WKH WKUHH DQJOHV DUH HTXDO EXW GLIIHUHQW IURP
WKH WKUHH SKDVHV DUH F\FOLFDOO\ LQWHUFKDQJHG 6ZLWFK RII DQG HDUWK WKH OLQH
6KRUWFLUFXLW WKH FXUUHQW WUDQVIRUPHUV
,I IRU DW OHDVW RQH SKDVH LV VKRZQ WKH RWKHU WZR
SKDVHV VKRXOG EH PDWFKHG WR WKLV SKDVH &RUUHFW WKH FW FRQQHFWLRQV
5HFKHFN WKH SKDVH DQJOH PHDVXUHPHQW DV GH
VFULEHG DERYH
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
6WDELOLW\ FKHFNV VKRXOG EH PDGH EHFDXVH RI WKH 6HW DGGUHVV UHIHU WR 6HFWLRQ ,1,7,$7,21
KLJK VHQVLWLYLW\ RI WKH FXUUHQW FRPSDULVRQ SURWHF 6725$*( %< )' )' IDXOW GHWHFWLRQ VR WKDW
WLRQ )RU WKLV WKH OLQH LV HQHUJL]HG DW RQH OLQH HQG IDXOW UHFRUGLQJ LV LQLWLDWHG E\ LQWHUQDO G\QDPLF IDXOW
GHWHFWLRQ VLJQDO 1RWH WKDW FRGHZRUG HQWU\ LV QHFHV
5HDG RXW WKH VWHDG\VWDWH FKDUJLQJ FXUUHQW LQ DG VDU\ IRU DOWHUDWLRQ RI D FRQILJXUDWLRQ SDUDPHWHU
GUHVV EORFN &KHFN WKDW WKH G\QDPLF WKUHVKROG 7KXV D IDXOW UHFRUG FDQ EH SURGXFHG DXWRPDWLFDOO\
,!'<1 DGGUHVV LV DW OHDVW WLPHV WKH FKDUJ ZKHQ WKH G\QDPLF WKUHVKROG RI WKH FXUUHQW FRPSDUL
LQJ FXUUHQW VRQ SURWHFWLRQ LV UHDFKHG ZLWKRXW DQ\ H[WHUQDO WULJ
JHU VLJQDO
6ZLWFKLQJ WHVWV DUH FDUULHG RXW LQ RUGHU WR HQVXUH
WKDW VWDELOLW\ RI WKH FXUUHQW FRPSDULVRQ SURWHFWLRQ LV 7HVW DGGUHVV DOORZV WR VWDUW RQH XQLTXH IDXOW UH
VXIILFLHQW HYHQ XQGHU VZLWFKLQJ FRQGLWLRQV WKH IRO FRUG &RGHZRUG HQWU\ LV QHFHVVDU\ IRU WKLV WHVW LQLWLD
ORZLQJ SURFHGXUH LV VXJJHVWHG WLRQ
&RQILUP ZLWK WKH l<HVlNH\ -< WKDW D WHVW IDXOW UH KDV QHYHU EHHQ UHDFKHG 7KH SURWHFWLRQ UHPDLQHG
FRUG LV DOORZHG VWDEOH 6HW DGGUHVV ,1,7,$7,21 EDFN WR WKH LQ
WHQGHG SRVLWLRQ $W WKH VDPH LQVWDQW WHVW IDXOW UHFRUG
:KHQ DGGUHVV LV QRW VHW WR ,1,7,$7,21 DOORZDQFH LV HUDVHG ZKHQ WKH SRVLWLRQ LV 67$57
6725$*( %< )' WKHQ WKH PHVVDJH 127 3266,%/( :,7+ 75,3
LV GLVSOD\HG
,I WKH G\QDPLF SLFNXS WKUHVKROG KDV EHHQ H[FHHGHG
6ZLWFK WKH OLQH RQ VHYHUDO WLPHV ,I D IDXOW UHFRUG KDV GXULQJ RQH RI WKH VZLWFKLQJ WHVWV WKHQ D IDXOW UHFRUG
EHHQ VWRUHG WKHQ UHDG LW RXW DQG JLYH UHQHZHG DOORZ ZLOO KDYH EHHQ VWRUHG ,W FDQ EH UHDG RXW LQ RUGHU WR
DQFH RI D WHVW IDXOW UHFRUG EHIRUH QH[W FORVLQJ ILQG RXW WKH DPSOLWXGH RI WKH LQUXVK FXUUHQWV 7KH G\
QDPLF WKUHVKROG ,!'<1 &/26 DGGUHVV
,I QR IDXOW UHFRUG KDV EHHQ VWRUHG GXULQJ VHYHUDO VKRXOG EH VHW OHVV VHQVLWLYH LH WR D KLJKHU YDOXH
VZLWFKLQJ WHVWV WKHQ WKH G\QDPLF SLFNXS WKUHVKROG 5HSHDW VZLWFKLQJ WHVWV LQ WKLV FDVH
3RVVLELOLW\ H[LVWV WR FDUU\ RXW FRQYHQWLRQDO WHVW RI WKH 7KLV WHVW IHDWXUH DOORZV WKH UHOD\ WR EH WHVWHG ZLWKRXW
FXUUHQW FRPSDULVRQ SURWHFWLRQ IXQFWLRQ GXULQJ RSHU WKH QHHG WR LQDFWLYDWH WKH UHOD\ DW WKH RSSRVLWH OLQH
DWLRQ ,Q RUGHU WR DFKLHYH WKLV D ELQDU\ LQSXW PXVW HQG
KDYH EHHQ DOORFDWHG WR WKH IXQFWLRQ l!&&3 7HVWl
)1R :KHQ WKLV LQSXW LV HQHUJL]HG GXULQJ RS 7KH ORFDO UHOD\ FDQ QRZ EH WHVWHG E\ DQ LQMHFWHG FXU
HUDWLRQ WKH UHOD\ DW WKH RSSRVLWH OLQH HQG LV VZLWFKHG UHQW ZLWKRXW DIIHFWLRQ WKH RWKHU UHOD\ ,I ORFDO WULS LV QRW
RYHU WR HPHUJHQF\ RYHUFXUUHQW WLPH SURWHFWLRQ UHTXLUHG WKH WULS FRPPDQG PXVW EH LQWHUUXSWHG
PRGH
$WWHQWLRQ 7KLV WHVW PXVW RQO\ EH FDUULHG RXW ZKLOH
WKH OLQH LV VZLWFKHG RII RU ZLWKRXW FXUUHQW 2WKHU
ZLVH WULS FRPPDQG PD\ RFFXU HYHQ DIWHU KDYLQJ ILQ
LVKHG WKH WHVW
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
,I WKH H[WHUQDO ORFDO WULS RU WUDQVIHU WULS IDFLOLWLHV YLD :LWK WUDQVIHU WULS HQHUJL]DWLRQ RI WKH DFFRUGLQJO\ DV
ELQDU\ LQSXWV RI WKH UHOD\ DUH XVHG WKHVH IXQFWLRQV VLJQHG ELQDU\ LQSXW )1R l!7UDQV 7ULSl
PXVW EH FKHFNHG VHQGV D WUDQVIHU WULS VLJQDO WR WKH UHPRWH OLQH HQG LQ
RUGHU WR WULS WKH UHPRWH FLUFXLW EUHDNHU LQIOXHQFHG E\
:LWK H[WHUQDO ORFDO WULS HQHUJL]DWLRQ RI WKH DFFRUGLQJ WKH SDUDPHWHUV RI DGGUHVV EORFN UHIHU WR 6HFWLRQ
O\ DOORFDWHG ELQDU\ LQSXW )1R l!([W 7ULSl 7UDQVPLVVLRQ PXVW EH VZLWFKHG 21 XQGHU
WULSV WKH ORFDO FLUFXLW EUHDNHU LQIOXHQFHG E\ WKH SD DGGUHVV IRU WKH VHQGLQJ UHOD\ UHFHSWLRQ PXVW
UDPHWHUV RI DGGUHVV EORFN UHIHU WR 6HFWLRQ EH VZLWFKHG 21 XQGHU DGGUHVV IRU WKH UHFHLY
7KLV IXQFWLRQ PXVW EH VZLWFKHG 21 XQGHU DGGUHVV LQJ UHOD\ $IWHU WKH GHOD\ WLPH 76(1''(/ DG
$IWHU WKH GHOD\ WLPH 7'(/$< DGGUHVV GUHVV IROORZLQJ HQHUJL]DWLRQ RI WKH ELQDU\ LQ
IROORZLQJ HQHUJL]DWLRQ RI WKH ELQDU\ LQSXW WKH EUHDN SXW WUDQVIHU WULS VLJQDO LV WUDQVPLWWHG WKH EUHDNHU RI
HU PXVW EH WULSSHG WKH UHFHLYLQJ HQG PXVW EH WULSSHG
&XUUHQW FRPSDULVRQ SURWHFWLRQ UHOD\ 6' DOORZV 'XULQJ PDUVKDOOLQJ RI WKH ELQDU\ LQSXWV UHIHU WR 6HF
VLPSOH FKHFNLQJ RI WKH WULSSLQJ FLUFXLW DQG WKH FLUFXLW WLRQ WKH UHOD\ KDG EHHQ LQIRUPHG ZKLFK ELQDU\
EUHDNHU LQSXW LQGLFDWHV WKH FLUFXLW EUHDNHU SRVLWLRQ ,I WKH
DX[LOLDU\ FRQWDFW LV DVVLJQHG WR D ELQDU\ LQSXW LW PXVW
EH FRQQHFWHG WRR ,I LW LV QRW DVVLJQHG WR DQ\ ELQDU\
'$1*(5 LQSXW WKHQ WKH GHYLFH ZLOO SHUIRUP WULSSLQJ WHVW ZLWK
RXW LQWHUURJDWLRQ RI WKH FLUFXLW EUHDNHU SRVLWLRQ
$ VXFFHVVIXOO\ VWDUWHG WHVW F\FOH FDQ
OHDG WR FORVLQJ RI WKH FLUFXLW EUHDNHU LI ,QLWLDWLRQ RI WKH WHVW FDQ EH JLYHQ IURP WKH RSHUDWRU
DQ H[WHUQDO DXWRUHFORVXUH UHOD\ LV FRQ NH\ERDUG RU IURP WKH IURQW RSHUDWRU LQWHUIDFH $ FR
QHFWHG GHZRUG LQSXW LV QHFHVVDU\ 7KH SURFHGXUH LV VWDUWHG
ZLWK DGGUHVV ZKLFK FDQ EH UHDFKHG E\ GLUHFW
,I WKH FLUFXLW EUHDNHU DX[LOLDU\ FRQWDFWV DGYLVH WKH GLDOOLQJ '$ ( RU E\ SDJLQJ ZLWK Â RU Ä ,Q WKH
UHOD\ WKURXJK D ELQDU\ LQSXW RI WKH FLUFXLW EUHDNHU DGGUHVVHV RI WKLV EORFN WKHUH LV D QXPEHU RI SRVVLEL
SRVLWLRQ WKH WHVW FDQ RQO\ EH VWDUWHG ZKHQ WKH FLUFXLW OLWLHV DYDLODEOH ZKLFK DUH VKRZQ LQ WKH IROORZLQJ
EUHDNHU LV FORVHG 7KLV DGGLWLRQDO VHFXULW\ IHDWXUH ER[HV
VKRXOG QRW EH RPLWWHG ZKHQ DQ H[WHUQDO DXWRUH
FORVH UHOD\ LV SUHVHQW 3UHUHTXLVLWH IRU VWDUWLQJ WKH WHVW LV WKDW QR SURWHFWLRQ
IXQFWLRQ RI WKH UHOD\ EH SLFNHG XS
$IWHU FRQILUPDWLRQ E\ WKH RSHUDWRU WKDW WKH FLUFXLW WKH DX[LOLDU\ FRQWDFW LQGLFDWHV WKDW WKH FLUFXLW EUHDNHU
EUHDNHU LV FORVHG WKH WHVW F\FOH SURFHHGV ,I WKH WHVW LV QRW FORVHG HYHQ LI WKH RSHUDWRU KDV FRQILUPHG WKDW
LV WHUPLQDWHG VXFFHVVIXOO\ WKLV LV DQQXQFLDWHG LQ WKH LW LV 2QO\ ZKHQ QR FLUFXLW EUHDNHU DX[LOLDU\ FRQWDFW LV
GLVSOD\ RU RQ WKH 3& VFUHHQ ,I KRZHYHU WKH FLUFXLW DVVLJQHG WR DQ\ ELQDU\ LQSXW ZLOO WKH UHOD\ FRQVLGHU
EUHDNHU DX[LOLDU\ FRQWDFW DVVLJQHG WR D ELQDU\ LQSXW WKH RSHUDWRU
V FRQILUPDWLRQ YDOLG
DQG FRQQHFWHG WKH UHOD\ UHMHFWV WKH WHVW DV ORQJ DV
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
$ IDXOW UHFRUG VWRUDJH FDQ EH VWDUWHG DW DQ\ WLPH XV WULJJHU WLPH ZDV VHW XQGHU DGGUHVV
LQJ WKH RSHUDWLQJ SDQHO RU YLD WKH RSHUDWLQJ LQWHU
IDFH 6WDUWLQJ D WHVW IDXOW UHFRUG LV DOVR SRVVLEOH YLD D 7KH IDXOW UHFRUG FDQ EH WULJJHUHG YLD D ELQDU\ LQSXW
ELQDU\ LQSXW SURYLGHG WKLV LV DFFRUGLQJO\ DOORFDWHG IRU H[DPSOH DW WKH LQVWDQW RI WKH EUHDNHU FORVLQJ
)1R l!6WDUW )OW5HFl FRPPDQG
7KH FRQILJXUDWLRQ SDUDPHWHUV DV VHW LQ DGGUHVV 0DQXDO VWDUWLQJ RI D IDXOW UHFRUG FDQ EH FDUULHG RXW LQ
EORFN DUH GHFLVLYH IRU WKLV IDXOW UHFRUGLQJ UHIHU WR DGGUHVV EORFN ZKLFK FDQ EH UHDFKHG E\ SDJLQJ
6HFWLRQ DGGUHVV FRQFHUQV WULJJHULQJ YLD ZLWK Â RU Ä RU E\ GLUHFW GLDOOLQJ ZLWK '$ (
ELQDU\ LQSXW DGGUHVV WULJJHULQJ YLD WKH RSHUDW 7KH VWDUW DGGUHVV LV UHDFKHG ZLWK
LQJ NH\ERDUG RU YLD WKH RSHUDWLQJ LQWHUIDFH 7KH SUH
&*&
6' 9 2SHUDWLQJ LQVWUXFWLRQV
$OO VHWWLQJ YDOXHV VKRXOG EH FKHFNHG DJDLQ LQ FDVH IURQW VR WKDW IURP WKHQ RQ RQO\ UHDO IDXOWV DUH LQGL
WKH\ ZHUH DOWHUHG GXULQJ WKH WHVWV 3DUWLFXODUO\ FKHFN FDWHG )URP WKDW PRPHQW WKH PHDVXUHG YDOXHV RI
WKDW DOO GHVLUHG SURWHFWLRQ IXQFWLRQV KDYH EHHQ SUR WKH TXLHVFHQW VWDWH DUH GLVSOD\HG 'XULQJ SXVKLQJ
JUDPPHG LQ WKH FRQILJXUDWLRQ SDUDPHWHUV DGGUHVV WKH 5(6(7 EXWWRQ WKH /('V RQ WKH IURQW ZLOO OLJKW XS
EORFN UHIHU WR 6HFWLRQ DQG DOO GHVLUHG SURWHF H[FHSW WKH l%ORFNHGl/(' WKXV D /(' WHVW LV SHU
WLRQ IXQFWLRQV KDYH EHHQ VZLWFKHG 21 IRUPHG DW WKH VDPH WLPH
7KH FRXQWHUV IRU FLUFXLW EUHDNHU RSHUDWLRQ VWDWLVWLFV &KHFN WKDW WKH PRGXOH LV SURSHUO\ LQVHUWHG 7KH
VKRXOG EH HUDVHG DGGUHVV EORFN UHIHU WR 6HFWLRQ JUHHQ /(' PXVW EH RQ RQ WKH IURQW WKH UHG /(' PXVW
QRW EH RQ
3XVK WKH NH\ 06 RQ WKH IURQW 7KH GLVSOD\ VKRZV &ORVH KRXVLQJ FRYHU
WKH EHJLQQLQJ RI WKH DQQXQFLDWLRQ EORFNV 7KXV LW LV
SRVVLEOH WKDW WKH PHDVXUHG YDOXHV IRU WKH TXLHVFHQW $OO WHUPLQDO VFUHZV HYHQ WKRVH QRW LQ XVH PXVW
VWDWH RI WKH UHOD\ FDQ EH GLVSOD\HG VHH EHORZ EH WLJKWHQHG
7KHVH YDOXHV KDV EHHQ FKRVHQ GXULQJ FRQILJXUDWLRQ
UHIHU WR 6HFWLRQ XQGHU WKH DGGUHVVHV ,I D WHVW VZLWFK LV DYDLODEOH WKHQ WKLV PXVW EH LQ WKH
DQG RSHUDWLQJ SRVLWLRQ
6WRUHG LQGLFDWLRQV RQ WKH IURQW SODWH VKRXOG EH UHVHW 7KH FXUUHQW FRPSDULVRQ SURWHFWLRQ UHOD\ LV QRZ
E\ SUHVVLQJ WKH SXVKEXWWRQ l5(6(7 /('l RQ WKH UHDG\ IRU RSHUDWLRQ
&*&
6' 9 0DLQWHQDQFH DQG IDXOW WUDFLQJ
6LHPHQV GLJLWDO SURWHFWLRQ UHOD\V DUH GHVLJQHG WR UH 5RXWLQH FKHFNV
TXLUH QR VSHFLDO PDLQWHQDQFH $OO PHDVXUHPHQW DQG
VLJQDO SURFHVVLQJ FLUFXLWV DUH IXOO\ VROLG VWDWH DQG
WKHUHIRUH FRPSOHWHO\ PDLQWHQDQFH IUHH ,QSXW PRG 5RXWLQH FKHFNV RI FKDUDFWHULVWLFV RU SLFNXS YDOXHV
XOHV DUH HYHQ VWDWLF UHOD\V DUH KHUPHWLFDOO\ VHDOHG RU DUH QRW QHFHVVDU\ DV WKH\ IRUP SDUW RI WKH FRQWLQX
SURYLGHG ZLWK SURWHFWLYH FRYHUV RXVO\ VXSHUYLVHG ILUPZDUH SURJUDPV 7KH SODQQHG
PDLQWHQDQFH LQWHUYDOV IRU FKHFNLQJ DQG PDLQWH
,I WKH GHYLFH LV HTXLSSHG ZLWK D EDFNXS EDWWHU\ IRU QDQFH RI WKH SODQW FDQ EH XVHG WR SHUIRUP RSHUDWLRQ
VDYLQJ RI VWRUHG DQQXQFLDWLRQV DQG WKH LQWHUQDO WLPH DO WHVWLQJ RI WKH SURWHFWLRQ HTXLSPHQW 7KLV PDLQWH
FORFN WKH EDWWHU\ VKRXOG EH UHSODFHG DIWHU DW WKH ODW QDQFH VHUYHV PDLQO\ IRU FKHFNLQJ WKH LQWHUIDFHV RI
HVW \HDUV RI RSHUDWLRQ UHIHU WR 6HFWLRQ 7KLV WKH XQLW LH WKH FRXSOLQJ ZLWK WKH SODQW 7KH IROORZ
UHFRPPHQGDWLRQ LV YDOLG LQGHSHQGHQW RQ ZKHWKHU LQJ SURFHGXUH LV UHFRPPHQGHG
WKH EDWWHU\ KDV EHHQ GLVFKDUJHG E\ RFFDVLRQDO VXS
SO\ YROWDJH IDLOXUHV RU QRW 5HDGRXW RI RSHUDWLRQDO YDOXHV DGGUHVV EORFN
DQG FRPSDULVRQ ZLWK WKH DFWXDO YDOXHV IRU
$V WKH SURWHFWLRQ LV DOPRVW FRPSOHWHO\ VHOIPRQL FKHFNLQJ WKH DQDORJ LQWHUIDFHV
WRUHG IURP WKH PHDVXULQJ LQSXWV WR WKH FRPPDQG
RXWSXW UHOD\V KDUGZDUH DQG VRIWZDUH IDXOWV DUH DX 6LPXODWLRQ RI DQ LQWHUQDO VKRUWFLUFXLW ZLWK [ ,1 IRU
WRPDWLFDOO\ DQQXQFLDWHG 7KLV HQVXUHV WKH KLJK DYDLO FKHFNLQJ WKH DQDORJ LQSXW DW KLJK FXUUHQWV
DELOLW\ RI WKH UHOD\ DQG DOORZV D PRUH FRUUHFWLYH UDWK
HU WKDQ SUHYHQWLYH PDLQWHQDQFH VWUDWHJ\ 7HVWV DW
VKRUW LQWHUYDOV EHFRPH WKHUHIRUH VXSHUIOXRXV
:DUQLQJ
:LWK GHWHFWHG KDUGZDUH IDXOWV WKH UHOD\ EORFNV LWVHOI
GURSRII RI WKH DYDLODELOLW\ UHOD\ VLJQDOV lHTXLSPHQW +D]DUGRXV YROWDJHV FDQ EH SUHVHQW RQ
IDXOWl ,I WKHUH LV D IDXOW GHWHFWHG LQ WKH H[WHUQDO PHD DOO FLUFXLWV DQG FRPSRQHQWV FRQQHFWHG
VXULQJ FLUFXLWV JHQHUDOO\ DQ DODUP LV JLYHQ RQO\ ZLWK WKH VXSSO\ YROWDJH RU ZLWK WKH PHDV
XULQJ DQG WHVW TXDQWLWLHV
5HFRJQL]HG VRIWZDUH IDXOWV FDXVH WKH SURFHVVRU WR
UHVHW DQG UHVWDUW ,I VXFK D IDXOW LV QRW HOLPLQDWHG E\
UHVWDUWLQJ IXUWKHU UHVWDUWV DUH LQLWLDWHG ,I WKH IDXOW LV &DXWLRQ
VWLOO SUHVHQW DIWHU WKUHH UHVWDUW DWWHPSWV WKH SURWHF
WLYH V\VWHP ZLOO VZLWFK LWVHOI RXW RI VHUYLFH DQG LQGL 7HVW FXUUHQWV ODUJHU WKDQ WLPHV ,1 PD\
FDWH WKLV FRQGLWLRQ E\ WKH UHG /(' l%ORFNHGl RQ WKH RYHUORDG DQG GDPDJH WKH UHOD\ LI DSSOLHG
IURQW SODWH 'URSRII RI WKH DYDLODELOLW\ UHOD\ VLJQDOV FRQWLQXRXVO\ UHIHU WR 6HFWLRQ IRU
lHTXLSPHQW IDXOWl RYHUORDG FDSDELOLW\ 2EVHUYH D FRROLQJ
GRZQ SHULRG
7KH UHDFWLRQ WR GHIHFWV DQG LQGLFDWLRQV JLYHQ E\ WKH
UHOD\ FDQ EH LQGLYLGXDOO\ DQG LQ FKURQRORJLFDO VH &LUFXLW EUHDNHU WULS FLUFXLWV DUH WHVWHG E\ DFWXDO
TXHQFH UHDG RII DV RSHUDWLRQDO DQQXQFLDWLRQV XQGHU OLYH WULSSLQJ 5HVSHFWLYH QRWHV DUH JLYHQ LQ 6HF
WKH DGGUHVV IRU GHIHFW GLDJQRVLV UHIHU WR 6HF WLRQ
WLRQ
:DUQLQJ
(QVXUH WKDW WKH FRQQHFWLRQ PRGXOHV DUH QRW
GDPDJHG ZKHQ UHPRYLQJ RU LQVHUWLQJ WKH
GHYLFH PRGXOHV +D]DUGRXV YROWDJHV PD\
RFFXU ZKHQ WKH KHDY\ FXUUHQW SOXJV DUH
GDPDJHG
&*&
6' 9 0DLQWHQDQFH DQG IDXOW WUDFLQJ
7KH GHYLFH DQQXQFLDWLRQV DUH VWRUHG LQ 19 5$0V 6KRUWHQ WKH OHJV WR PP LQFK HDFK DQG
$ EDFNXS EDWWHU\ LV LQVHUWHG VR WKDW WKH\ DUH UH EHQG RYHU DW D OHQJWK RI PP LQFK
WDLQHG HYHQ ZLWK D ORQJHU IDLOXUH RI WKH GF VXSSO\
YROWDJH 7KH EDFNXS EDWWHU\ LV DOVR UHTXLUHG IRU WKH
LQWHUQDO V\VWHP FORFN ZLWK FDOHQGHU WR FRQWLQXH LQ
WKH HYHQW RI D SRZHU VXSSO\ IDLOXUH
5HFRPPHQGHG EDWWHU\
)LJXUH %HQGLQJ WKH EDFNXS EDWWHU\ XS WR
/LWKLXP EDWWHU\ 9 $K W\SH &5 $$ HJ SURGXFWLRQ VHULHV ''
9$57$ 2UGHU 1R IRU UHOD\V XQWLO
SURGXFWLRQ VHULHV ''
9$57$ 2UGHU 1R IRU UHOD\V IURP 5HOD\V IURP SURGXFWLRQ VHULHV (( RU ODWHU KDYH QR
SURGXFWLRQ VHULHV (( RU ODWHU D[LDO OHJV
7KH EDWWHU\ LV ORFDWHG DW WKH UHDU HGJH RI WKH SURFHV /RRVHQ WKH EDVLF PRGXOH XVLQJ WKH SXOOLQJ DLGV
VRU ERDUG RI WKH EDVLF PRGXOH *($ 7KH EDVLF PRG SURYLGHG DW WKH WRS DQG ERWWRP )LJXUH
XOH PXVW EH UHPRYHG IURP WKH KRXVLQJ LQ RUGHU WR UH
SODFH WKH EDWWHU\
:DUQLQJ
3UHSDUH DUHD RI ZRUN SURYLGH FRQGXFWLYH VXUIDFH
IRU WKH EDVLF PRGXOH +D]DUGRXV YROWDJHV FDQ EH SUHVHQW LQ
WKH GHYLFH HYHQ DIWHU GLVFRQQHFWLRQ RI
2SHQ KRXVLQJ FRYHU WKH VXSSO\ YROWDJH RU DIWHU UHPRYDO RI WKH
PRGXOHV IURP WKH KRXVLQJ VWRUDJH FD
5HDG RXW GHYLFH DQQXQFLDWLRQV LH DOO DGGUHVVHV SDFLWRUV
ZKLFK FRPPHQFH ZLWK RQZDUGV 7KLV LV
FDUULHG RXW PRVW FRQYHQLHQW XVLQJ WKH IURQW RSHU &DXWLRQ
DWLQJ LQWHUIDFH DQG D SHUVRQDO FRPSXWHU ZLWK WKH
',*6,X SURWHFWLRQ GDWD SURFHVVLQJ SURJUDP WKH (OHFWURVWDWLF GLVFKDUJHV YLD WKH FRPSR
LQIRUPDWLRQ LV WKXV VWRUHG LQ WKH 3& QHQW FRQQHFWLRQV WKH 3&% WUDFNV RU WKH
FRQQHFWLQJ SLQV RI WKH PRGXOHV PXVW EH
1RWH $OO FRQILJXUDWLRQ GDWD DQG VHWWLQJV RI WKH GH DYRLGHG XQGHU DOO FLUFXPVWDQFHV E\ SUH
YLFH DUH VWRUHG LQ ((3520V SURWHFWHG DJDLQVW YLRXVO\ WRXFKLQJ DQ HDUWKHG PHWDO VXU
VZLWFKLQJ RII RI WKH SRZHU VXSSO\ 7KH\ DUH VWRUHG IDFH
LQGHSHQGHQW RI WKH EDFNXS EDWWHU\ 7KH\ DUH
3XOO RXW EDVLF PRGXOH DQG SODFH RQWR WKH FRQGXF
WKHUHIRUH QHLWKHU ORVW ZKHQ WKH EDWWHU\ LV UH
WLYH VXUIDFH
SODFHG QRU ZKHQ WKH GHYLFH LV RSHUDWHG ZLWKRXW D
EDWWHU\
8QVFUHZ XVHG EDWWHU\ IURP WKH WHUPLQDOV RU UH
PRYH LW IURP WKH KROGHU GR QRW SODFH RQ WKH FRQ
2QO\ IRU UHOD\ XQWLO SURGXFWLRQ VHULHV '' 3UH
GXFWLYH VXUIDFH 5HIHU WR )LJXUH IRU UHOD\ XQWLO
SDUH WKH EDWWHU\ DV LQ )LJXUH
SURGXFWLRQ VHULHV '' DQG WR )LJXUH IURP SUR
GXFWLRQ VHULHV ((
&DXWLRQ
,QVHUW WKH SUHSDUHG EDWWHU\ LQWR WKH WHUPLQDOV RU
'R QRW VKRUWFLUFXLW EDWWHU\ 'R QRW UH KROGHU DV LQ )LJXUH XQWLO SURGXFWLRQ VHULHV
YHUVH EDWWHU\ SRODULWLHV 'R QRW FKDUJH '' DQG WLJKWHQ WKH VFUHZV RU DV LQ )LJXUH
EDWWHU\
IURP SURGXFWLRQ VHULHV ((
&*&
6' 9 0DLQWHQDQFH DQG IDXOW WUDFLQJ
9LHZ XSRQ
WKH SFE
5HDU YLHZ RQ WKH
UHPRYHG EDVLF PRGXOH
)LJXUH ,QVWDOODWLRQ RI WKH EDFNXS EDWWHU\ IRU UHOD\ XQWLO SURGXFWLRQ VHULHV ''
,QVHUW EDVLF PRGXOH LQWR WKH KRXVLQJ HQVXUH WKDW 'R QRW UHYHUVH SRODULWLHV 'R QRW UH
WKH UHOHDVLQJ OHYHU LV SXVKHG IXOO\ WR WKH OHIW EHIRUH FKDUJH 'R QRW WKURZ LQWR ILUH 'DQJHU
WKH PRGXOH LV SUHVVHG LQ RI H[SORVLRQ
)LUPO\ SXVK LQ WKH PRGXOH XVLQJ WKH UHOHDVLQJ OH 3URYLGHG WKH LQWHUQDO V\VWHP FORFN LV QRW DXWRPDW
YHU )LJXUH LFDOO\ V\QFKURQL]HG YLD WKH /6$ LQWHUIDFH LW FDQ
QRZ EH VHW RU V\QFKURQL]HG DV GHVFULEHG LQ 6HF
WLRQ
:DUQLQJ
&ORVH KRXVLQJ FRYHU
7KH GLVFKDUJHG EDWWHU\ FRQWDLQV /LWKLXP
,W PXVW RQO\ EH GLVSRVHG RII LQ OLQH ZLWK WKH 7KH UHSODFHPHQW RI WKH EDFNXS EDWWHU\ KDV WKXV
DSSOLFDEOH UHJXODWLRQV EHHQ FRPSOHWHG
9LHZ XSRQ
5HDU YLHZ RQ WKH WKH SFE
UHPRYHG EDVLF PRGXOH
)LJXUH ,QVWDOODWLRQ RI WKH EDFNXS EDWWHU\ IRU UHOD\ IURP SURGXFWLRQ VHULHV ((
&*&
6' 9 0DLQWHQDQFH DQG IDXOW WUDFLQJ
,I WKH SURWHFWLYH GHYLFH LQGLFDWHV D GHIHFW WKH IROORZ 5HSODFLQJ WKH PLQLIXVH
LQJ SURFHGXUH LV VXJJHVWHG
6HOHFW D UHSODFHPHQW IXVH l PP (QVXUH
,I QRQH RI WKH /('V RQ WKH IURQW SODWH RI WKH PRGXOH LV WKDW WKH UDWHG YDOXH WLPH ODJ PHGLXP VORZ DQG
RQ WKHQ FKHFN FRGH OHWWHUV DUH FRUUHFW )LJXUH
+DYH WKH PRGXOHV EHHQ SURSHUO\ SXVKHG LQ DQG 3UHSDUH DUHD RI ZRUN SURYLGH FRQGXFWLYH VXUIDFH
ORFNHG" IRU WKH EDVLF PRGXOH
,V WKH 212)) VZLWFK RQ WKH IURQW SODWH LQ WKH 21 2SHQ KRXVLQJ FRYHU
SRVLWLRQ v "
$(
$(
$*
&*&
6' 9 0DLQWHQDQFH DQG IDXOW WUDFLQJ
3XOO RXW EDVLF PRGXOH DQG SODFH RQWR WKH FRQGXF )LUPO\ SXVK LQ WKH PRGXOH XVLQJ WKH UHOHDVLQJ OH
WLYH VXUIDFH YHU )LJXUH
5HPRYH EORZQ IXVH IURP WKH KROGHU )LJXUH &ORVH KRXVLQJ FRYHU
)LW QHZ IXVH LQWR WKH KROGHU )LJXUH 6ZLWFK RQ WKH GHYLFH DJDLQ ,I D SRZHU VXSSO\ IDLOXUH
LV VWLOO VLJQDOOHG D IDXOW RU VKRUWFLUFXLW LV SUHVHQW LQ
,QVHUW EDVLF PRGXOH LQWR WKH KRXVLQJ HQVXUH WKDW WKH LQWHUQDO SRZHU VXSSO\ 7KH GHYLFH VKRXOG EH UH
WKH UHOHDVLQJ OHYHU LV SXVKHG IXOO\ WR WKH OHIW EHIRUH WXUQHG WR WKH IDFWRU\ VHH &KDSWHU
WKH PRGXOH LV SUHVVHG LQ )LJXUH
&*&
6' 9 5HSDLUV 6WRUDJH
5HSDLUV 6WRUDJH
5HSDLU RI GHIHFWLYH PRGXOHV LV QRW UHFRPPHQGHG DW 6ROLG VWDWH SURWHFWLYH UHOD\V VKDOO EH VWRUHG LQ GU\
DOO EHFDXVH VSHFLDOO\ VHOHFWHG HOHFWURQLF FRPSR DQG FOHDQ URRPV 7KH OLPLW WHPSHUDWXUH UDQJH IRU
QHQWV DUH XVHG ZKLFK PXVW EH KDQGOHG LQ DFFRU VWRUDJH RI WKH UHOD\V RU DVVRFLDWHG VSDUH SDUWV LV
GDQFH ZLWK WKH SURFHGXUHV UHTXLUHG IRU (OHFWURVWDWL E& WR E& UHIHU 6HFWLRQ XQGHU WKH
FDOO\ (QGDQJHUHG &RPSRQHQWV ((& )XUWKHU 7HFKQLFDO GDWD FRUUHVSRQGLQJ WR E) WR E)
PRUH VSHFLDO PDQXIDFWXULQJ WHFKQLTXHV DUH QHFHV
VDU\ IRU DQ\ ZRUN RQ WKH SULQWHG FLUFXLW ERDUGV LQ RU 7KH UHODWLYH KXPLGLW\ PXVW EH ZLWKLQ OLPLWV VXFK WKDW
GHU WR GR QRW GDPDJH WKH EDWKVROGHUHG PXOWLOD\HU QHLWKHU FRQGHQVDWLRQ QRU LFH IRUPV
ERDUGV WKH VHQVLWLYH FRPSRQHQWV DQG WKH SURWHF
WLYH ILQLVK ,W LV UHFRPPHQGHG WR UHGXFH WKH VWRUDJH WHPSHUD
WXUH WR WKH UDQJH & WR & ) WR )
7KHUHIRUH LI D GHIHFW FDQQRW EH FRUUHFWHG E\ RSHUD WKLV SUHYHQWV IURP HDUO\ DJHLQJ RI WKH HOHFWURO\WLF FD
WRU SURFHGXUHV VXFK DV GHVFULEHG LQ &KDSWHU LW LV SDFLWRUV ZKLFK DUH FRQWDLQHG LQ WKH SRZHU VXSSO\
UHFRPPHQGHG WKDW WKH FRPSOHWH UHOD\ VKRXOG EH UH
WXUQHG WR WKH PDQXIDFWXUHU 8VH WKH RULJLQDO WUDQV )RU YHU\ ORQJ VWRUDJH SHULRGV LW LV UHFRPPHQGHG
SRUW SDFNDJLQJ IRU UHWXUQ ,I DOWHUQDWLYH SDFNLQJ LV WKDW WKH UHOD\ VKRXOG EH FRQQHFWHG WR WKH DX[LOLDU\
XVHG WKLV PXVW SURYLGH WKH GHJUHH RI SURWHFWLRQ YROWDJH VRXUFH IRU RQH RU WZR GD\V HYHU\ RWKHU \HDU
DJDLQVW PHFKDQLFDO VKRFN DV ODLG GRZQ LQ ,(& LQ RUGHU WR UHJHQHUDWH WKH HOHFWURO\WLF FDSDFLWRUV
FODVV DQG ,(& FODVV 7KH VDPH LV YDOLG EHIRUH WKH UHOD\ LV ILQDOO\ LQVWDOOHG
,Q H[WUHPH FOLPDWLF FRQGLWLRQV WURSLFV SUHZDUPLQJ
ZRXOG WKXV EH DFKLHYHG DQG FRQGHQVDWLRQ DYRLGHG
,I LW LV XQDYRLGDEOH WR UHSODFH LQGLYLGXDO PRGXOHV LW LV
LPSHUDWLYH WKDW WKH VWDQGDUGV UHODWHG WR WKH KDQGOLQJ %HIRUH LQLWLDO HQHUJL]DWLRQ ZLWK VXSSO\ YROWDJH WKH
RI (OHFWURVWDWLFDOO\ (QGDQJHUHG &RPSRQHQWV DUH UHOD\ VKDOO EH VLWXDWHG LQ WKH RSHUDWLQJ DUHD IRU DW
REVHUYHG OHDVW WZR KRXUV LQ RUGHU WR HQVXUH WHPSHUDWXUH
HTXDOL]DWLRQ DQG WR DYRLG KXPLGLW\ LQIOXHQFHV DQG
FRQGHQVDWLRQ
:DUQLQJ
+D]DUGRXV YROWDJHV FDQ EH SUHVHQW LQ WKH
GHYLFH HYHQ DIWHU GLVFRQQHFWLRQ RI WKH VXS
SO\ YROWDJH RU DIWHU UHPRYDO RI WKH PRGXOH
IURP WKH KRXVLQJ VWRUDJH FDSDFLWRUV
&DXWLRQ
(OHFWURVWDWLF GLVFKDUJHV YLD WKH FRPSRQHQW
FRQQHFWLRQV WKH 3&% WUDFNV RU WKH FRQQHFW
LQJ SLQV RI WKH PRGXOHV PXVW EH DYRLGHG XQ
GHU DOO FLUFXPVWDQFHV E\ SUHYLRXVO\ WRXFK
LQJ DQ HDUWKHG PHWDO VXUIDFH 7KLV DSSOLHV
HTXDOO\ IRU WKH UHSODFHPHQW RI UHPRYDEOH
FRPSRQHQWV VXFK DV (3520 RU ((3520
FKLSV )RU WUDQVSRUW DQG UHWXUQLQJ RI LQGLYLG
XDO PRGXOHV HOHFWURVWDWLF SURWHFWLYH SDFN
LQJ PDWHULDO PXVW EH XVHG
&*&
6' 9 $SSHQGL[
$SSHQGL[
$ *HQHUDO GLDJUDPV
% &RQQHFWLRQ GLDJUDPV
& 7DEOHV
&*&
6' 9 $SSHQGL[
$ *HQHUDO GLDJUDPV
(
( 5
.200$1'25(/$,6 &200$1'
8
,9
( ,/
& $
)
(
5 1
* ,2
6
,1
3 ,6
0(/'(5(/$,6 5(/$<
<
$ < 3
, 0
/ $ 5 6
( / 7 1
5 ( 5 $
5 5
*($
*($
*($
69
(,1*$%( ,1387
(
/
,3 7 3
5 ( & ,3 <
7 6 & 5 /
7
3
( ( . /
3
7 5 & $
8
6
2 (
/2 . 5
0 7 2
(
( 2 % /
:
5
2
0 / J 3
J ( 9 Q
J
Q 5 6
VX
Q
VX W J
X
VH Ð
J
Q VO
U
Ð
VO
R
H UX
V
X
U
X 5 LH
H
D
NW
Y
D FN
P
UQ H
R
H ' OR LU
WU
) ( 6
/ % '
+
( 8
( ( (
/ /
, , ,/ ,H / / / / / /
)LJXUH $ *HQHUDO GLDJUDP RI FXUUHQW FRPSDULVRQ SURWHFWLRQ UHOD\ 6' VKHHW RI
&*&
6' 9 $SSHQGL[
9
9
. 0 $ $ $ . 0 $
' 7 60 60 60 ' 7 60
7[ 0 ) ) ) 7[ 0 )
$XIEDXJHK XVH 685)$&( 02817,1* &$6(
99
9 9
QG 69 Q G 69 Q G 69 QG 69
LR Q WLR HQ WLR HQ WLR HQ
VWDW LWHH VWD H
VLW $ VWD LWH QVWD VLWH $
9 HJHQ SSRV HQ
HJ SR /6 HQ RV
HJ RSS 9 HJH SSR /6
*R * RS * *R
6'
%$
&
.5 . 5
' 0 $
60
$
60
$ ' 0 $
5[ 60 5[ 60
) ) ) )
O O O O
QD QD QD QD
.D .D .D .D
9 9
. 0 $
' $ $ $ . 0
7[ 07 60 60 60 ' 7 60
) ) ) 7[ 0
)
% % % % % $ % % % % % $
(LQEDXJHK XVH )/86+ 02817,1* &$6(
9 9 99
QG 69 Q G 69 Q G 69 QG 69
WLR QH WLR HQ WLR HQ WLR HQ
VWD VLWH VWD H
VLW $ VWD LWH QVWD VLWH $
9HJHQ SSR HQ
HJ SR /6 HQ RV
HJ RSS 9HJH SSR /6
*R * RS * *R
%
% % $ %
%
$
% $
$0
&) 6
&) )
QR GQ 96 QR GQ 96
LW H WLD HH
WDV WHL WV LW
QH VR $6
QH RV
JH SS JH SS /
*R *R
&) &) $0
6
)
O O O
DQ DQ DQ
D. D. D.
&) &)
QR GQ G
LW H RQWL QH
WDV LWHV WDV HLWV
HQJ RS QH R
9 H* SR 9 JH SS
*R
. 0
. . 0 . $0
'[ 7 '[ 5 '[ 7 '[ 5 6
&) 7 05 0 &)
7 05 0 )
% % % % % % % % % % % % $
9 9
QR GQ 96 96
L RQ GQ
WWDVQ HHWL WLWDV HHLW $6
9 HHJ VRS 9 QHJ VRS /
* RS H* RS
6'
&$
$$
$
$0
6
)
)LJXUH $ *HQHUDO GLDJUDP RI FXUUHQW FRPSDULVRQ SURWHFWLRQ UHOD\ 6' VKHHW RI
&*&
6' 9 $SSHQGL[
$ $ $ $ $ $ % % % %
/
WR /
IXUWKHU
GHYLFHV
, / , / , / ,(
/
/LQH /
/
/ / /
&*&
6' 9 $SSHQGL[
$ $ $ $ $ $ % % % %
/
WR /
[ IXUWKHU
$0$$ GHYLFHV
, / , / , / ,(
/
/LQH /
/
/ / /
&*&
6' 9 $SSHQGL[
& 7DEOHV
7DEOH & $QQXQFLDWLRQV IRU 3& /&GLVSOD\ DQG ELQDU\ LQSXWVRXWSXWV
7DEOH & 5HIHUHQFH WDEOH IRU IXQFWLRQDO SDUDPHWHUV DGGUHVV EORFNV WR
7DEOH & 5HIHUHQFH WDEOH IRU FRQILJXUDWLRQ SDUDPHWHUV DGGUHVV EORFNV WR
127( 7KH IROORZLQJ WDEOHV OLVW DOO GDWD ZKLFK DUH DYDLODEOH LQ WKH PD[LPXP FRPSOHPHQW RI WKH GHYLFH 'HSHQ
GHQW RQ WKH RUGHUHG PRGHO RQO\ WKRVH GDWD PD\ EH SUHVHQW ZKLFK DUH YDOLG IRU WKH LQGLYLGXDO YHUVLRQ
&*&
6' 9 $SSHQGL[
&*&
6' 9 $SSHQGL[
¿©©©©§©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©§©©©©©§©©©§©©©©©©©©©©©©©©©©¤
Ann.LSA VDEW/ZVEI
FNo. Meaning OpFtNo.CAGIBTTypInf
¨©©©©ª©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©ª©©ª©©ª©©©ª©©ª©©ª©©ª©©©ª©©©
521Interrupted current: Phase L1 (I/In) V125 150171
522Interrupted current: Phase L2 (I/In) V126 150172
523Interrupted current: Phase L3 (I/In) V127 150173
561Circuit breaker manually closed (pulse)C 18 150211
601Operational measurement: IL1a[%]= M 134131
602Operational measurement: IL2a[%]= M 134131
603Operational measurement: IL3a[%]= M 134131
604Operational measurement: IEa[%]= M 134131
775Time delay of transmission = M 134131
1174Circuit breaker test in progress CG 21 GI 151 74
1513Thermal overload protection is active CG GI 167 13
1515Thermal overload prot.: Current warningCG 11 GI 167 15
1516Thermal overload prot.: Thermal warningCG 12 GI 167 16
1521Thermal overload protection trip CG 10 GI 167 21
2053Emergency O/C protection is active CG GI 61 53
2054Emergency O/C protection is running CG 50 GIBT 61 54
2055Emergency O/C for earth switched OFF CG 49 GI 61 55
2056Emergency O/C for phases switched OFF CG 48 GI 61 56
2061Emerg. O/C prot.: General fault detect. CG210 BT 61 61
2062Emerg. O/C prot.: Fault detection L1 CG212 BT 61 62
2063Emerg. O/C prot.: Fault detection L2 CG213 BT 61 63
2064Emerg. O/C prot.: Fault detection L3 CG214 BT 61 64
2065Emerg. O/C prot.: Earth fault detection CG216 BT 61 65
2071Emerg. O/C earth fault detection only C 221 61 71
2072Emerg. O/C fault detection L1 only C 222 61 72
2073Emerg. O/C fault detection L1E C 226 61 73
2074Emerg. O/C fault detection L2 only C 229 61 74
2075Emerg. O/C fault detection L2E C 232 61 75
2076Emerg. O/C fault detection L12 C 235 61 76
2077Emerg. O/C fault detection L12E C 236 61 77
2078Emerg. O/C fault detection L3 only C 237 61 78
2079Emerg. O/C fault detection L3E C 238 61 79
2080Emerg. O/C fault detection L13 C 239 61 80
2081Emerg. O/C fault detection L13E C 241 61 81
2082Emerg. O/C fault detection L23 C 242 61 82
2083Emerg. O/C fault detection L23E C 243 61 83
2084Emerg. O/C fault detection L123 C 244 61 84
2085Emerg. O/C fault detection L123E C 245 61 85
2091Emerg. O/C phase fault detection I>> C 246 61 91
2092Emerg. O/C phase fault detection I>/Ip C 247 61 92
2095Emerg. O/C earth fault detection IE>> C 249 61 95
2096Emerg. O/C earth fault det. IE>/IEp C 250 61 96
2121Emerg. O/C prot.: Time TI>> expired C 217 61121
2122Emerg. O/C prot.: Time TI>/Tp expired C 218 61122
2125Emerg. O/C prot.: Time TIE>> expired C 219 61125
2126Emerg. O/C prot.: Time TIE>/TEp expired C 220 61126
2141Emerg. O/C protection: General Trip C 251 BT 61141
2145Emerg. O/C protection: Trip 3pole C 255 61145
3066current comparison protec.switched off CG 20 GI 92 66
3068Current comparison protection is activeCG GI 92 68
3073Intertrip send signal C 37 92 73
3074Intertrip signal received C 36 92 74
3075Current comparison protection in test CG GI 92 75
3076Fault detection of current compar.prot CGCG 3CAGIBT p 84
3077Fault detection phase L1 of CCP CG209CAGIBT p 64
3078Fault detection phase L2 of CCP CG211CAGIBT p 65
3079Fault detection phase L3 of CCP CG215CAGIBT p 66
¥©©©©¦©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©¦©©¦©©¦©©©¦©©¦©©¦©©¦©©©¦©©©¾
&*&
6' 9 $SSHQGL[
¿©©©©§©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©§©©©©©§©©©§©©©©©©©©©©©©©©©©¤
Ann.LSA VDEW/ZVEI
FNo. Meaning OpFtNo.CAGIBTTypInf
¨©©©©ª©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©ª©©ª©©ª©©©ª©©ª©©ª©©ª©©©ª©©©
3080Fault detection of intertrip circuit C 223 BT 92 80
3084General trip signal of current comp.pr C 231CA BT p 68
3088Trip 3-pole of current comparison prot. C 230 BT 92 88
3306>Transfer trip signal input C 39 93 6
3311Trans. trip transmitter is switched offCG 57 GI 93 11
3321Switch OFF: Receiving a transfer trip CG 58 GI 93 21
3322Transfer trip function is active CG GI 93 22
3324Trip command by transfer trip C 59 93 24
3391Block transmission of data CG GI 93 91
3401Transmission time correction off CG 111 GI 93101
3402Transmission time correction okay C 112 93102
3403Transmission time deviation > 0.5 ms CG 113 GI 93103
3404CCP blocked by time deviation > 1 ms CG 114 GI 93104
3405Reception of faulty data CG 95 GI 93105
3406Total reception failure CG 94CAGI p 39
3409Transmission time measurm. in progress CG 98 GI 93109
3410Angle measurement in progress CG 99 GI 93110
3431User defined remote message 1 received CG GI 93131
3432User defined remote message 2 received CG GI 93132
3433User defined remote message 3 received CG GI 93133
3434User defined remote message 4 received CG GI 93134
4506>External trip CG 51 GI 51106
4511External trip is switched off CG 53 GI 51111
4513External trip is active CG GI 51113
4517External trip: General trip C 52 51117
¥©©©©¦©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©¦©©¦©©¦©©©¦©©¦©©¦©©¦©©©¦©©©¾
&*&
6' 9 $SSHQGL[
&*&
6' 9 $SSHQGL[
¿©©©©§©©©©©©©©©©©©©§©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©§©©§©©§©§©©©¤
FNo.Abbreviation Meaning OpFtEIOT
¨©©©©ª©©©©©©©©©©©©©ª©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©ª©©ª©©ª©ª©©©
205Flt.Rec.viaKBFault recording initiated via keyboard C
206Flt.Rec.viaPCFault recording initiated via PC interfC
244D Time= Difference time of clock synchronism M
301Syst.Flt Fault in the power system CGC
302Fault Fault event with consecutive number C
354>CB Aux.3p cl>CB aux. contact:3poles closed (series) IOT
356>Manual Close>Manual close IOT
383>RAR Release >Release overreach zones RAR CGCG IOT
501Device FltDetGeneral fault detection of device OT
502Dev. Drop-offGeneral drop-off of device C
511Device Trip General trip of device OT
515Dev.Trip 3p General 3pole trip of device OT
521IL1/In= Interrupted current: Phase L1 (I/In) C
522IL2/In= Interrupted current: Phase L2 (I/In) C
523IL3/In= Interrupted current: Phase L3 (I/In) C
545T-Drop Time from fault detection to drop-off
546T-Trip Time from fault detection to trip
561Manual Close Circuit breaker manually closed (pulse)C OT
563CB Alarm SuppCB alarm suppressed OT
601IL1a[%]= Operational measurement: IL1a[%]= M
602IL2a[%]= Operational measurement: IL2a[%]= M
603IL3a[%]= Operational measurement: IL3a[%]= M
604IEa [%]= Operational measurement: IEa[%]= M
614IL1b[%]= Operational measurement: IL1b[%]= M
615IL2b[%]= Operational measurement: IL2b[%]= M
616IL3b[%]= Operational measurement: IL3b[%]= M
617IEb [%]= Operational measurement: IEb[%]= M
651IL1a = Operational measurement: IL1a= M
652IL2a = Operational measurement: IL2a= M
653IL3a = Operational measurement: IL3a= M
654IEa = Operational measurement: IEa= M
664IL1b = Operational measurement: IL1b= M
665IL2b = Operational measurement: IL2b= M
666IL3b = Operational measurement: IL3b= M
667IEb = Operational measurement: IEb= M
775TT = Time delay of transmission = M
776TTK= Setting of time delay [ms] = M
777OVERRUN 1/minUART-overrun errors per minute = M
778FRAMING 1/minUART-framing errors per minute = M
779PARITY 1/min UART-parity errors per minute = M
780FORMAT 1/min UART-format errors per minute = M
781CHECKS 1/min UART-checksumme errors per minute = M
782CLOCK 1/min UART-receive clock errors per minute = M
783Trans.Flt.1/mUART-errors per minute = M
790Trans.Flt.1/hUART-errors per hour = M
801Î/Îtrip = Temperature rise for warning and trip M
802Î/ÎtripL1= Temperature rise for phase L1 M
803Î/ÎtripL2= Temperature rise for phase L2 M
804Î/ÎtripL3= Temperature rise for phase L3 M
1001TripNo L1= Number of trip commands: Phase L1 M
1002TripNo L2= Number of trip commands: Phase L2 M
1003TripNo L3= Number of trip commands: Phase L3 M
¥©©©©¦©©©©©©©©©©©©©¦©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©¦©©¦©©¦©¦©©©¾
&*&
6' 9 $SSHQGL[
¿©©©©§©©©©©©©©©©©©©§©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©§©©§©©§©§©©©¤
FNo.Abbreviation Meaning OpFtEIOT
¨©©©©ª©©©©©©©©©©©©©ª©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©ª©©ª©©ª©ª©©©
1004ÉIL1/In= Summated current tripped IL1/In M
1005ÉIL2/In= Summated current tripped IL2/In M
1006ÉIL3/In= Summated current tripped IL3/In M
1156>CB Test >CB test start IOT
1174CB in Test Circuit breaker test in progress CG OT
1181CB Test Trip Circuit breaker test: General trip OT
1185CB Test 3p Circuit breaker test: Trip 3pole OT
1511O/L Prot. offThermal overload prot. is switched off CG OT
1513O/L active Thermal overload protection is active CG OT
1515O/L Warn I Thermal overload prot.: Current warningCG OT
1516O/L Warn Î Thermal overload prot.: Thermal warningCG OT
1521O/L Trip Thermal overload protection trip CG OT
2010>I>> block >Block I>> stage of emerg. O/C protec. CG IOT
2011>IE>> block >Block emerg. highset overc. (earth) CG IOT
2012>I>/IP block >Block emerg. overcurrent I>/Ip CG IOT
2013>IE>IEP block>Block emerg. overcurrent IE>/Ip CG IOT
2021>Emer PH ON >Switch ON emerg. overcurrent prot. IOT
2022>Emer PH OFF >Switch OFF emerg. overcurrent prot. IOT
2023>Emer E ON >Switch ON emerg. earth fault prot. IOT
2024>Emer E OFF >Switch OFF emerg. earth fault prot. IOT
2053Emer. active Emergency O/C protection is active CG OT
2054Emer. mode Emergency O/C protection is running CG OT
2055Emer.E/F off Emergency O/C for earth switched OFF CG OT
2056Emer.Ph.off Emergency O/C for phases switched OFF CG OT
2061Emer.Gen.Flt Emerg. O/C prot.: General fault detect. OT
2062Emer. Flt L1 Emerg. O/C prot.: Fault detection L1 OT
2063Emer. Flt L2 Emerg. O/C prot.: Fault detection L2 OT
2064Emer. Flt L3 Emerg. O/C prot.: Fault detection L3 OT
2065Emer. Flt E Emerg. O/C prot.: Earth fault detection OT
2071Emer. Flt E Emerg. O/C earth fault detection only C
2072Emer. Flt L1 Emerg. O/C fault detection L1 only C
2073Emer. Flt L1EEmerg. O/C fault detection L1E C
2074Emer. Flt L2 Emerg. O/C fault detection L2 only C
2075Emer. Flt L2EEmerg. O/C fault detection L2E C
2076Emer. Flt L12Emerg. O/C fault detection L12 C
2077Emer.Flt L12EEmerg. O/C fault detection L12E C
2078Emer. Flt L3 Emerg. O/C fault detection L3 only C
2079Emer. Flt L3EEmerg. O/C fault detection L3E C
2080Emer. Flt L13Emerg. O/C fault detection L13 C
2081Emer.Flt L13EEmerg. O/C fault detection L13E C
2082Emer. Flt L23Emerg. O/C fault detection L23 C
2083Emer.Flt L23EEmerg. O/C fault detection L23E C
2084Emer.Flt L123Emerg. O/C fault detection L123 C
2085Emer.Flt 123EEmerg. O/C fault detection L123E C
2091Emer. I>> Emerg. O/C phase fault detection I>> C OT
2092Emer. I>/Ip Emerg. O/C phase fault detection I>/Ip C OT
2095Emer. IE>> Emerg. O/C earth fault detection IE>> C OT
2096Emer. IE>/IEpEmerg. O/C earth fault det. IE>/IEp C OT
2121Emer. TI>> Emerg. O/C prot.: Time TI>> expired C OT
2122Emer. TI>/Tp Emerg. O/C prot.: Time TI>/Tp expired C OT
2125Emer. TIE>> Emerg. O/C prot.: Time TIE>> expired C OT
2126Emer. TIE>TEpEmerg. O/C prot.: Time TIE>/TEp expired C OT
2141Emer.Gen.TripEmerg. O/C protection: General Trip OT
2145Emer.Trip 3p Emerg. O/C protection: Trip 3pole C OT
3051>CCP ON >Switch ON current comparison protect. IOT
3052>CCP OFF >Switch OFF current comparison protect. IOT
3053>CCP block. >Block current comparison protection IOT
3059>CCP test >Test current comparison protection IOT
¥©©©©¦©©©©©©©©©©©©©¦©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©¦©©¦©©¦©¦©©©¾
&*&
6' 9 $SSHQGL[
¿©©©©§©©©©©©©©©©©©©§©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©§©©§©©§©§©©©¤
FNo.Abbreviation Meaning OpFtEIOT
¨©©©©ª©©©©©©©©©©©©©ª©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©ª©©ª©©ª©ª©©©
3066CCP off current comparison protec.switched off CG OT
3067CCP Block. current comparison protection blocked CG OT
3068CCP active Current comparison protection is activeCG OT
3071Itr.send off Intertrip send signal switched off CG OT
3072Itr.rec. off Intertrip reception switched off CG OT
3073I.Trip Send Intertrip send signal C OT
3074I.Trip Rec. Intertrip signal received C OT
3075CCP Test Current comparison protection in test CG OT
3076CCP.Gen.Flt Fault detection of current compar.prot C OT
3077CCP.Fault L1 Fault detection phase L1 of CCP C OT
3078CCP.Fault L2 Fault detection phase L2 of CCP C OT
3079CCP.Fault L3 Fault detection phase L3 of CCP C OT
3080Flt.I.Trip Fault detection of intertrip circuit C OT
3084CCP.GEN.TRIP General trip signal of current comp.pr C OT
3088CCP.Trip L123Trip 3-pole of current comparison prot. C OT
3090Com.FltRec Commissioning fault record release C OT
3306>Trans.Trip >Transfer trip signal input CG IOT
3311TransTrip offTrans. trip transmitter is switched offCG OT
3316TrTrip Send Transfer trip transmission signal C OT
3321T.TripRec.offSwitch OFF: Receiving a transfer trip CG OT
3322T.Trip activeTransfer trip function is active CG OT
3323T.Trip rec. Receiving a transfer trip C OT
3324Transfer TripTrip command by transfer trip C OT
3391>DATA block Block transmission of data CG IOT
3401TT.Corr.off Transmission time correction off CG OT
3402TT.corrected Transmission time correction okay C OT
3403TT Dev.>0.5msTransmission time deviation > 0.5 ms CG OT
3404TT blocks CCPCCP blocked by time deviation > 1 ms CG OT
3405Data Fault Reception of faulty data CG OT
3406Recep.Fail. Total reception failure CG OT
3407Wrong VersionWrong firmware version installed CG OT
3408Wrong Dev.ID Wrong device identification no. CG OT
3409TR.Time Meas.Transmission time measurm. in progress OT
3410Angle Meas. Angle measurement in progress OT
3421>Trans.Annu1 >User defined message 1 to remote end IOT
3422>Trans.Annu2 >User defined message 2 to remote end IOT
3423>Trans.Annu3 >User defined message 3 to remote end IOT
3424>Trans.Annu4 >User defined message 4 to remote end IOT
3431Trans.Annu.1 User defined remote message 1 received CG OT
3432Trans.Annu.2 User defined remote message 2 received CG OT
3433Trans.Annu.3 User defined remote message 3 received CG OT
3434Trans.Annu.4 User defined remote message 4 received CG OT
4506>Ext Trip >External trip CG IOT
4511Ext off External trip is switched off CG OT
4513Ext active External trip is active CG OT
4517Ext Gen. TripExternal trip: General trip C OT
¥©©©©¦©©©©©©©©©©©©©¦©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©¦©©¦©©¦©¦©©©¾
&*&
6' 9 $SSHQGL[
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
1100 POWERSYSTEM DATA
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
1500 CURRENT COMPARISION PROT
&*&
6' 9 $SSHQGL[
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
1600 DATA TRANSMISSION
&*&
6' 9 $SSHQGL[
&*&
6' 9 $SSHQGL[
&*&
6' 9 $SSHQGL[
&*&
6' 9 $SSHQGL[
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
4100 COMMISSION TESTS
&*&
6' 9 $SSHQGL[
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
5100 OPERATIONAL ANNUNCIATIONS
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
5200 LAST FAULT
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
5300 2nd TO LAST FAULT
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
5400 3rd TO LAST FAULT
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
5600 CB OPERAT STATISTICS
5604 TripNo L1= Number of trip commands: Phase L1
5605 TripNo L2= Number of trip commands: Phase L2
5606 TripNo L3= Number of trip commands: Phase L3
5607 ÉIL1/In= Summated current tripped IL1/In
5608 ÉIL2/In= Summated current tripped IL2/In
5609 ÉIL3/In= Summated current tripped IL3/In
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
&*&
6' 9 $SSHQGL[
&*&
6' 9 $SSHQGL[
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
6100 MARSHALLING BINARY INPUTS
&*&
6' 9 $SSHQGL[
&*&
6' 9 $SSHQGL[
&*&
6' 9 $SSHQGL[
&*&
6' 9 $SSHQGL[
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
7800 SCOPE OF FUNCTIONS
&*&
6' 9 $SSHQGL[
&*&
6' 9 $SSHQGL[
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
8100 SETTING REAL TIME CLOCK
©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©©
8200 RESET
&*&
6' 9 $SSHQGL[
&*&
6' 9 &RUUHFWLRQV6XJJHVWLRQV
7R )URP
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
6,(0(16 $.7,(1*(6(//6&+$)7 1DPH
'HSW (9 6 683
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
' %(5/,1 &RPSDQ\'HSW
*HUPDQ\
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
$GGUHVV
'HDU UHDGHU
&RUUHFWLRQV6XJJHVWLRQV
&*&
6XEVWDQWLDO DOWHUDWLRQV DJDLQVW SUHYLRXV LVVXH
'DWD FRUUHFWHG LQ 6HFWLRQ RSWLFDO ILEUH FRQQHFWLRQV