Academic literature on the topic 'Major transactions'
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Journal articles on the topic "Major transactions"
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Khan, Mohammad Monirujjaman, Nesat Tasneem RoJa, Faris A. Almalki, and Maha Aljohani. "Revolutionizing E-Commerce Using Blockchain Technology and Implementing Smart Contract." Security and Communication Networks 2022 (May 31, 2022): 1–8. http://dx.doi.org/10.1155/2022/2213336.
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The days of storing data manually are behind us. We are opting for the online form of data storage and transfer. The new era of data digitization comes with its own perks and detriments. Cybersecurity is still a crucial concern today. As more data transfer occurs through an online medium, the risks of a breach and cyberattacks are inevitable. The whole foundation of e-commerce is based on the online transfer of goods and transactions without the need to travel. Transferring transactional data and transactions in e-commerce are prone to cyber threats. Our research’s major objective is to develop a system that protects against such mishaps, especially during the transfer of transactional data, and also implement an automated system that ensures these transactions occur without any errors. To implement this, we are taking advantage of new emerging technologies called blockchain and smart contract. Blockchain allows a decentralized, immutable digital ledger to safely store and transfer data across the network. Blockchain technology is used in e-commerce to transfer transactions in a safe, secure, and faster way. Blockchain enables a peer-to-peer transaction system and data encryption that enables the safe transfer of transactional data. Blockchain is used to transfer transactional data. A smart contract is a special program that enables, verifies, and enforces the terms of a contract digitally. It provides transactional security as the contact is in place. The blockchain, coupled with smart contracts, will revolutionize the future of e-commerce. We have combined blockchain technology to ensure data security and user privacy with smart contracts to ensure that the protocol for the transaction is maintained. The results are presented by building and implementing the proposed system that provides the solution for transactional data privacy.
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RUSINKIEWICZ, MAREK, PIOTR KRYCHNIAK, and ANDRZEJ CICHOCKI. "TOWARDS A MODEL FOR MULTIDATABASE TRANSACTIONS." International Journal of Cooperative Information Systems 01, no. 03n04 (December 1992): 579–617. http://dx.doi.org/10.1142/s0218215792000155.
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In many application areas the information that may be of interest to a user is stored under the control of multiple, autonomous database systems. To support global transactions in a multidatabase environment, we must coordinate the activities of multiple Database Management Systems that were designed for independent, stand-alone operation. The autonomy and heterogeneity of these systems present a major impediment to the direct adaptation of transaction management mechanisms developed for distributed databases. In this paper we introduce a transaction model designed for a multidatabase environment. A multidatabase transaction is defined by providing a set of (local) sub-transactions, together with their precedence and dataflow requirements. Additionally, the transaction designer may specify failure atomicity and execution atomicity requirements of the multidatabase transaction. These high-level specifications are then used by the scheduler of a multidatabase transaction to assure that its execution satisfies the constraints imposed by the semantics of the application. Uncontrolled interleaving of multidatabase transactions may lead to the violation of interdatabase integrity constraints. We discuss the issues involved in a concurrent execution of multidatabase transactions and propose a new concurrency control correctness criterion that is less restrictive than global serializability. We also show how the multidatabase SQL can be extended to allow the user to specify multidatabase transactions in a nonprocedural way.
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Singh, Mandeep, Sunny Kumar, Sunny Kumar, and Tushant Garg. "Credit Card Fraud Detection Using Hidden Markov Model." International Journal of Engineering and Computer Science 8, no. 11 (December 1, 2019): 24878–82. http://dx.doi.org/10.18535/ijecs/v8i11.4386.
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Now a day the usage of credit cards and net banking for online payments has dramatically increased. The most popular mode of online as well as regular purchase payments is through credit card and security of such transactions is also a major issue as frauds are increasing rapidly. In the existing scenario, fraud is detected after the transaction is done and it makes more difficult to find out fraudulent loses barred by issuing authority. In this paper, we observe the behaviour of credit card transactions using a Hidden Markov Model (HMM) and show how it detects frauds. An HMM is initially trained with the normal behaviour of transaction. If the present credit card transaction is not accepted by the trained HMM with enough high probability, then it declares as a fraudulent transaction. At the same time, we try to ensure that no genuine transactions are rejected.
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Lesner, Christopher, Alexander Ran, Marko Rukonic, and Wei Wang. "Large Scale Personalized Categorization of Financial Transactions." AI Magazine 41, no. 3 (September 14, 2020): 63–77. http://dx.doi.org/10.1609/aimag.v41i3.5319.
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A major part of financial accounting involves organizing business transactions using a customizable filing system that accountants call a “chart of accounts.” This task must be carried out for every financial transaction, and hence automation is of significant value to the users of accounting software. In this article we present a large-scale recommendation system used by millions of small businesses in the USA, UK, Australia, Canada, India, and France to organize billions of financial transactions each year. The system uses machine learning to combine fragments of information from millions of users in a manner that allows us to accurately recommend chart-of-accounts categories even when users have created their own or named them using abbreviations or in foreign languages. Transactions are handled even if a given user has never categorized a transaction like that before. The development of such a system and testing it at scale over billions of transactions is a first in the financial industry.
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Lesner, Christopher, Alexander Ran, Marko Rukonic, and Wei Wang. "Large Scale Personalized Categorization of Financial Transactions." Proceedings of the AAAI Conference on Artificial Intelligence 33 (July 17, 2019): 9365–72. http://dx.doi.org/10.1609/aaai.v33i01.33019365.
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A major part of financial accounting involves tracking and organizing business transactions over and over each month and hence automation of this task is of significant value to the users of accounting software. In this paper we present a large-scale recommendation system that successfully recommends company specific categories for several million small businesses in US, UK, Australia, Canada, India and France and handles billions of financial transactions each year. Our system uses machine learning to combine fragments of information from millions of users in a manner that allows us to accurately recommend user-specific Chart of Accounts categories. Accounts are handled even if named using abbreviations or in a foreign language. Transactions are handled even if a given user has never categorized a transaction like that before. The development of such a system and testing it at scale over billions of transactions is a first in the financial industry.
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Semenov, Dmitry A. "MAJOR TRANSACTIONS MADE BY A JOINT-STOCK COMPANY." Regional and Branch Economy, no. 3 (2022): 16–21. http://dx.doi.org/10.47576/2782-4578_2022_3_16.
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Bierman, Harold. "Accounting for Interest Rate Swaps." Journal of Accounting, Auditing & Finance 2, no. 4 (October 1987): 396–408. http://dx.doi.org/10.1177/0148558x8700200407.
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There are major accounting issues for both the counterparties and the principal of an interest rate swap transaction. Currently, the market for swaps well exceeds $150 billion, and at this writing there are no explicit accounting standards for such transactions. This paper defines the basic swap transaction and the relevant accounting issues and offers possible solutions. Notes to the financial statements are needed to reveal the changes in risk, both to the counterparties and to the principal.
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Hung, Wei-Hsi J., Chia-An Tsai, Shin-Yuan Hung, Robert McQueen, and Jau-Jeng Jou. "Evaluating Web Site Support Capabilities in Sell-Side B2B Transaction Processes." Journal of Global Information Management 19, no. 1 (January 2011): 51–79. http://dx.doi.org/10.4018/jgim.2011010103.
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Business-to-business (B2B) transactions supported by the World Wide Web (Web) have become a major portion of e-commerce transactions. Despite growth, knowledge of the degree of Web site support capabilities in the B2B transaction process is limited. This paper longitudinally compares how Web sites supported the B2B transaction process in New Zealand and Taiwan between 2001 and 2007. The results indicate that, on average, New Zealand Web sites scored higher than those in Taiwan in both years. Yet, the rate of improvement of Taiwanese Web site scores is significant. Specifically, the support capability of several Web functions, including privacy, company information, financial information and product catalog has improved over the study period. The authors found that the sampled Web sites in New Zealand and Taiwan provide different support capabilities to the activities in the B2B transaction process. Taiwanese Web sites are more concerned with providing after-sale services via the Internet whereas New Zealand Web sites are more concerned with sharing information. These two countries’ Web sites share a similar focus on supporting B2B transactions, which provides strong support for users to conduct product promotion and information provision related activities over the Web. Based on these findings, this study suggests several implications for associated academics and practitioners.
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Roughgarden, Tim. "Transaction fee mechanism design." ACM SIGecom Exchanges 19, no. 1 (June 2021): 52–55. http://dx.doi.org/10.1145/3476436.3476445.
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Demand for blockchains such as Bitcoin and Ethereum is far larger than supply, necessitating a mechanism that selects a subset of transactions to include "on-chain" from the pool of all pending transactions. EIP-1559 is a proposal to make several tightly coupled changes to the Ethereum blockchain's transaction fee mechanism, including the introduction of variable-size blocks and a burned base fee that rises and falls with demand. These changes are slated for deployment in Ethereum's "London fork," scheduled for late summer 2021, at which point it will be the biggest economic change made to a major blockchain to date. This short note provides an overview of recent work by the author that formally investigates and compares the incentive guarantees offered by Ethereum's current transaction fee mechanism and the new mechanism proposed in EIP-1559.
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Fanning, Kurt, and Rita Grant. "Manual vs. Computerized Practice Set: Which Achieves Learning Objectives the Best?" AIS Educator Journal 12, no. 1 (January 1, 2017): 25–33. http://dx.doi.org/10.3194/1935-8156-12.1.25.
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ABSTRACT A major issue for accounting departments is how to adopt a user's approach to teaching the Principles level courses and still have the accounting majors adequately prepared for upper level courses. One approach is to employ a practice set within the curriculum. However, the use of a manual practice set presents several problems. The use of a computerized practice set may solve many of these issues. This paper examines this issue by testing the student's retention of information about accounting processes and procedures. The test results indicate similar outcomes from using a computerized practice set where students manually post the transactions to those students using a manual practice set. Thus, students can gain the necessary knowledge while using a computerized practice set when they post transactions. However, the test results indicate students have inferior results when using a computerized practice set that automatically posts the transactions. This suggests that student involvement in the transaction is important. Given the computerized practice set's advantages in decreasing the time and energy expended by the accounting faculty grading practice sets and the faculty's ability to help the students remotely, a strong argument can be made for using the computerized practice set when students post the transactions. Thus, accounting departments can be more confident, in certain circumstances, to choose to use computerized practice sets.
Dissertations / Theses on the topic "Major transactions"
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Clode, S. C. "Competition for retail transactions balances by the major London clearing banks." Thesis, Bangor University, 1989. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.234790.
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Zhao, Xiao. "The Determinants and Evolution of Major Inter-firm Transactions in the U.S. Apparel Sector." Thèse, Université d'Ottawa / University of Ottawa, 2013. http://hdl.handle.net/10393/26109.
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This study provides a systematic description of the nature and evolution of major transactions in the U.S. apparel sector, using a theory that applies across sectors. This research investigates the determinants of the existence and magnitude of major inter-firm transactions, relying on a unique longitudinal dataset of over 2,000 of the largest transactional (buy-sell) relations between publicly traded firms in the U.S. apparel sector. The results indicate the importance of inter-firm complementarity, rather than inter-firm similarity, in explaining the sector architecture; thus contributing to the future improvement of industry classification systems. This study also contributes to a deeper understanding of the apparel sector focusing on the change in the relative importance of manufacturing activities versus service activities and in the involvement of firms from the outside apparel sector. Implications of inter-firm transactions are discussed regarding industry policies, and human and environmental welfare in manufacturing and raw materials industries.
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David, Paul Rajasingham. "An extension of transaction cost economics with political governance, for the execution of major international projects." Thesis, University of Birmingham, 2017. http://etheses.bham.ac.uk//id/eprint/7787/.
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The objective of this research was to resolve an academic challenge to extend the predictive capabilities of the transaction cost economics (TCE) model to address the theoretical issues of governing high value, complex industrial projects executed across international borders. This extension of TCE has been achieved by political governance and indirect vertical integration to complement governance mechanisms for international transactions. The propositions for an extension of the TCE model and its applicability were explored by field investigation using three case studies complemented by interviews of industry professionals. The comparative institutional analysis of the three case studies examined the outcome of transactions which were subject to varying levels of political hazards and property rights safeguards. The empirical evidence demonstrated that the relative hazards created by the behaviour of the host country government and institutional regimes will have an overriding impact on transactions for major international projects. In this case, compelling political requirements may require firms to select governance mechanisms in a non-transaction costs economising way. The contribution made to knowledge by this research is to demonstrate support for the potential of an extension to the basic TCE model developed for predicting optimum governance mechanisms for transactions of major international projects.
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Naimi, Mehdy. "Contract and claim prevention in major projects : a study on petrochemical projects in Iran." Thesis, University of Manchester, 2013. https://www.research.manchester.ac.uk/portal/en/theses/contract-and-claim-prevention-in-major-projects-a-study-on-petrochemical-projects-in-iran(433f58e2-9e38-4861-8d10-f989d32ea960).html.
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The construction industry is notorious all over the world for disputes and claims. In large scale projects these claims are often more frequent and more expensive. The contract is the legal frame work of the project and forms project culture, therefore is a logical starting point for any attempt in reducing project claims. This research initially intended to study the possibility of drafting a robust contract which can prevent claims in major projects, and the main characteristics of such contract. However a review of contract related theories (transaction cost economics, agent theory and relational contracting) revealed that there is no such thing as perfect contract; and that contracts are invariably incomplete and prone to formation of claims. Traditional management theory considers disputes in project as pathological and tries to prevent them. The development and use of standard forms of contract was an attempt to tackle the problem of claim in the construction project, yet today more than 50 standard forms are in use in the UK alone and the rate of claims is at its highest ever. Much of the literature introduces partnering as a panacea for the current plague of disputes and claims. However this idea is seriously challenged by some scholars. Complexity science maintains that projects are complex systems and conflict occurs naturally. Conflicts are neither good nor bad by themselves; however the system needs re-adjustment after such conflicts. Flexibility of contracts or error controlled regulation can enhance such readjustment measures in the system. To get first hand information about the nature of claims from practitioners in major projects different methods of data gathering have been used. Three case studies, a set of interviews and a questionnaire survey have been conducted. Using a grounded theory like approach some repeating patterns of forming claims in the oil, gas and petrochemical projects are identified. Considering that all data have been gathered from Iranian projects, Iranian national culture has also been studied. The research concludes that contracts cannot prevent claims no matter how well they are drafted; nevertheless a poorly drafted contract can cause dispute. Some areas for improvement have been identified in the Iranian oil, gas and petrochemical sectors. By analysing the data and studying standard contracts some suggestions are made. In practice, stake holders try to preserve flexibility and rearrange relationships to keep continuity of contract and complete their projects.
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Teo, Pauline. "The effect of procurement on competition and flexibility : determining the suitability of public-private partnerships in major infrastructure projects." Thesis, Queensland University of Technology, 2014. https://eprints.qut.edu.au/72914/1/Poh_Teo_Thesis.pdf.
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A procurement decision-making model is developed based on a novel integration of leading-edge microeconomic theory and empirically tested in major road and health projects. The model provides a more reliable approach to identifying projects suited to Public-Private-Partnerships (PPPs) and it is expected that the model will enable government to deliver improved value-for-money from their portfolio of PPP projects.
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Lee, Jillian April. "Gender differences in psychopathology examined under an expanded transactional theory of stress framework." Thesis, [College Station, Tex. : Texas A&M University, 2007. http://hdl.handle.net/1969.1/ETD-TAMU-2590.
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Yu-PingHsu and 許昱斌. "Investment strategy research – Following major shareholders transactions in Taiwan." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/nw5s5s.
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碩士國立成功大學
國際經營管理研究所碩士在職專班
105
Insider trading scandals happened frequently in Taiwan stock market. In fact, most of insider scandals are not easy to be found. Although Taiwan government has some regulations and laws to prohibit these illegal activities, it’s hard to put into practice. Previous research brought up that abnormal return existed in insider trading scandals. Retail investors obviously get hurt by these scandals. In this research, we try to trace major shareholders’ path by monitoring the changes of shareholders who hold more than 1,000,000 stocks to build our investment strategy. This study discusses targets selected, time to sell stocks and cover all 880 listed companies in Taiwan stock market. We get 2.03% abnormal return in one month and 13.3% abnormal return in six months based on TDCC’s report. It means that we may acquire positive abnormal return by following major shareholders’ transactions. We also find that there may be a positive correlation between holding periods and abnormal return. If major shareholders continuously acquire or hold stocks for a longer period, we can expect more abnormal returns in these cases. In this research, we also find that setting a period of time or taking profit point may be superior to selling stocks based on this research.
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Nitschke, Matthew Cody. "Mathematical Modelling of the Early Stages of Multicellular Evolution." Thesis, 2021. https://hdl.handle.net/2440/134559.
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To understand the evolution of multicellularity is to explain mechanistically how the most fundamental properties needed for evolution by natural selection first emerged at the group level. One recent hypothesis for how these properties emerged in the earliest collectives relies on the role played by the ecology; a process termed Ecological Scaffolding. This hypothesis suggests that Darwinian properties can be scaffolded by the environment; that is these properties can be exogenously imposed in such a way as to cause lower-level entities (cells) to become inadvertent participants in a selective process that occurs as part of a larger, collective-level entity (groups). In this thesis, I construct and analyse several stochastic models of this phenomenon to investigate how assumptions about the ecology affect the evolutionary dynamics. In its simplest form, the ecology consists of patchily distributed resources in which cells grow and a dispersal process that moves them between patches. The first part of the thesis investigates the role of a bottleneck created by the dispersal process and how its size affects the evolutionary dynamics. Small bottlenecks create an evolutionary process where the fitness of patches increases at the cost of cells, whose fitness decreases, sometimes called decoupling. Larger bottlenecks slow this process and after a point, the effect of increased competition within patches overwhelms patch-level selection. However, lower-level selection is curtailed to some extent and evolutionary equilibrium restored when a random bottleneck size is introduced. Motivated by recent experimental results, I next explore how the structure of the population affects the evolutionary dynamics in this model. The evolutionary dynamics slow when patches available for selection are restricted and when the parent-offspring connection is weakened. However, we still observe a transition in the focus of fitness from the individual cells to the group. As in the first model, it is shown that when bottleneck size is random, only occasional single-cell bottlenecks facilitate this. A move from discrete generations to overlapping generations in continuous time is also investigated, which requires adding a new structure to the model that aggregates cells. It is shown that the evolutionary dynamics are not particularly affected by these changes and that the dynamics are robust to a more realistic ecology. An assumption of the first models is that the process of dispersal and the creation of a bottleneck is exogenously imposed on the system. In the final part of the thesis, I create a new model that captures how a primitive life cycle can be formed where the dispersal dynamics are endogenously generated. I derive a deterministic approximation to the stochastic model that allows an adaptive dynamics approach to analyse how the parameters of the system evolve to optimise the lifecycle, again resulting in an increase in group fitness at the expense of the cells.Thesis (Ph.D.) -- University of Adelaide, School of Mathematical Sciences, 2021
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Ryon, Holly Smith. "Developing a better understanding of daily support transactions across a major life transition : the role that locus of control plays in the process." Thesis, 2014. http://hdl.handle.net/2152/26177.
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While much research has shown that being in a supportive relationship can buffer individuals from both the physical and psychological effects of stressful life events (House, Landis, & Umberson, 1988; Uchino, 2004), research concerning actual support exchanges, specifically receiving support, has been associated with negative effects (Gleason, Iida, Bolger, & Shrout, 2003; Gleason, Iida, Shrout, & Bolger, 2008). Understanding the differential effects of this process on mood and health is the focus of this study. The current paper adds to the existing literature by first, theoretically replicating previously established support transaction patterns and their effects on mood within committed couples and second, investigating the role that personality (i.e., perceived control) plays in moderating the effects of support on mood and health outcomes. In a daily diary study of 78 couples expecting their first child, I investigate the within and between-person associations between control, support, mood, and health. Couples were asked to independently complete three weeks of daily diaries at three different time points (i.e., during their third trimester, infancy, and toddlerhood). With the exception of women in their third trimester of pregnancy, we theoretically replicate previous support patterns and the effects on mood and find both state- and trait- level control to be important in this process such that the greater an individual's sense of control, the more he or she is buffered from negative influence of support transactions. Hypotheses concerning support and health are only partially supported in that receiving support and negative health symptoms are positively associated.text
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Hsu, Li-ching, and 徐麗卿. "A Research on the Effect of Teams' Winning Record to the Players' Transaction for Major League Baseball." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/27479166392063235658.
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碩士大葉大學
管理學院碩士在職專班
101
Among all the sports, baseball is one of the most fascinating sports worldwide. The Major League Baseball (MLB) has been the oldest professional sport organization developed in the United States. Only with effective human resource management can sport organizations function efficiently. Therefore, we investigated the influence that winning records of MLB teams have on player transaction. All teams’ winning records and player transaction data during 2002 and 2011 were obtained from the official website of ESPN. After conducting statistical analysis of the collected data, we found that the MLB winning record ranking of a team is significantly correlated with the player transaction frequency and the number of player traded of the team. Moreover, teams with winning records in the top and bottom one-third rankings exhibited higher transaction frequency and number of player traded.
Books on the topic "Major transactions"
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Levy, Robert J. Major League Baseball Transactions, 1946. McFarland & Company, 2001.
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Bradford, Joe. Bigger Problems: Major Concepts for Understanding Transactions under Islamic law. Origem Holding LLC, 2019.
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Striking Kosher Gold: The major Orthodox communities reside in the U.S.A., Israel, and Europe, and their business transactions amount to billions of dollars annually. Ofer Nachshon, 2022.
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Thompson, Benjamin. Experiments Upon Heat. by Major-General Sir Benjamin Thompson, Knt. F.R.S. in a Letter to Sir Joseph Banks, Bart. P.R.S. from the Philosophical Transactions. Gale Ecco, Print Editions, 2018.
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Financial Collateral. Oxford University Press, 2020. http://dx.doi.org/10.1093/law/9780198816935.001.0001.
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This book draws together all of the property law, regulatory and contractual issues relevant to financial collateral transactions. Collateralized finance transactions played a major role in the bankruptcy of Lehman Brothers and the near-failure of AIG during the early months of the global financial crisis, and they are being increasingly recognised as being integral to the stability of the global financial system. The book provides a detailed legal analysis of the types of transactions which make up collateralised financing transactions and examines them in their commercial context. Recognising that financial collateral transactions are often global in nature, the book covers the legal position in the UK, US, and the EU with specific relevance to practice in the Netherlands, Germany, and Belgium. The book opens with an explanation of how financial collateral transactions are construed, including the relevant standard contract forms. The following chapters discuss the major legal issues and practical considerations, as well as a number of specialist concepts such as safe harbours, 'minimum floors' and securities custody. The book brings together consideration of the European Securities Financing Regulation, the Collateral Directive, and relevant parts of the Bank Recovery and Resolution Directive.
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Coates, John C. Mergers, Acquisitions, and Restructuring. Edited by Jeffrey N. Gordon and Wolf-Georg Ringe. Oxford University Press, 2015. http://dx.doi.org/10.1093/oxfordhb/9780198743682.013.29.
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This chapter examines how mergers, acquisitions, and restructuring are regulated, both within the formal body of corporate law and as that law interacts with other bodies of law such as securities (including listing standards), antitrust, industry-specific regulation, and regulations of cross-border transactions. It begins with an overview of relevant terminology and scope of M&A and restructuring and how they differ from other corporate transactions or activities. It then considers major types of M&A transactions, the core goals of corporate law or governance, and other bodies of law (antitrust, industry-based regulation, regulation of foreign ownership of business, and tax) that give special treatment to M&A and restructuring, and sometimes interact with corporate law and governance. It also looks at laws that constrain M&A transactions and those that facilitate them. It concludes by summarizing empirical research and discussing what variations in types and modes of regulation governing M&A and restructuring transactions imply.
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Sarah, Paterson, and Zakrzewski Rafal, eds. McKnight, Paterson, & Zakrzewski on the Law of International Finance. Oxford University Press, 2017. http://dx.doi.org/10.1093/law/9780198725251.001.0001.
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This is the second edition of the major practitioner text which analyses the legal issues surrounding international finance transactions operating under English law. As readers of the first edition will already know, the work provides a detailed transaction-led discussion of all aspects of international financing, with supporting analysis of the commercial and regulatory background and the legal principles which underpin international finance practices. A comprehensive treatment of the subject is provided, with topics including conflict of laws, cross-border insolvency, regulation of banking activities, loan facilities, jurisdiction and the resolution of disputes, legal opinions in financial transactions, syndicated lending, bond issues, derivatives and structured finance and equipment financing. Whilst the work has established itself as a major practitioner text, the problem areas are also tackled with valuable references to the relevant authorities and in a highly analytical way. As a result, the work has found a home on the bookshelves of many academics and students. It is anticipated that this new edition will continue to appeal to a broad constituency of readers. This is a fast-moving area, and readers already familiar with the first edition will not be surprised by the scale of new material covered in this second edition. A significant new development has also been that the work has moved from a single-authored to a multiple authored text. A truly expert team of contributors has been assembled, and the editors have striven to maintain the consistency and lively commentary which was a badge of the first edition, whilst drawing on the advantages of a stable of specialist authors. Thus it is anticipated that existing readers and those new to the work alike will find this an invaluable source for all aspects of their practice and research in the field.
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Joshi, Mahesh K., and J. R. Klein. Technological Disruption in Global Finance. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198827481.003.0004.
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Will the currency of the future be bitcoins or cryptocurrencies? With Fintech and Digital ecosystems growing rapidly, what is the future of banks? Technology is fast replacing paper currency with electronic transactions. Finance has become sophisticated with complex and diversified products. New technology and instruments have enabled growth of global financial assets to more than $160 trillion. Geographical boundaries for financial transactions have disappeared with transactions taking place seamlessly across the globe. Due to the global connectedness of financial markets, any event in one country can impact the whole world instantaneously. The effects of the last decade’s financial crisis are still being felt in major economies. Financing is being used both as a weapon in the balance of power and as a facilitator of cross-border acquisitions. Governments are competing with tax rates to attract global corporations. Individual investors have the opportunities and tools available for geographical diversification of their investments.
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Services, Insight Educational, ed. Tax features of major business agreements: Effectively structuring the transaction. Mississauga, Ont: Insight, 1991.
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Anderson, Greg. Governed by Gods. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780190886646.003.0012.
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In this new account of Athenian demokratia, the most significant human activities in the polis were not political deliberations or economic transactions but ritual engagements with gods, the non-human agencies who ultimately controlled the very conditions of existence. To a point, offerings to gods were like taxes rendered to maintain the infrastructure of the cosmos. Ritual actions were thus performed more or less continually, at a wide range of locations, from household shrines to major sanctuaries, by all inhabitants of Attica, male and female, young and old, Athenian and non-Athenian alike. As the chapter stresses, these actions are best understood as ecological transactions, rather than as purely “religious” practices. Indeed, in such circumstances, where gods were potentially everywhere and anywhere in experience, the modern category “religion” has little or no valence or meaning. The chapter also highlights the ritual contributions to the life of the polis that were made by females, who played literally vital ecological roles through their involvements in numerous divine cults.
Book chapters on the topic "Major transactions"
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Nurmi, Kimmo, Jari Kyngäs, Dries Goossens, and Nico Kyngäs. "Scheduling the Finnish Major Ice Hockey League Using the PEAST Algorithm." In Transactions on Engineering Technologies, 155–68. Dordrecht: Springer Netherlands, 2014. http://dx.doi.org/10.1007/978-94-017-9588-3_12.
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Tabassum-Abbasi, Tasneem Abbasi, and S. A. Abbasi. "Ambient Quality Downwind Major Industrial Estates of Puducherry, India." In Springer Transactions in Civil and Environmental Engineering, 113–31. Singapore: Springer Singapore, 2020. http://dx.doi.org/10.1007/978-981-15-0954-4_7.
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Jonker, Jan, and Niels Faber. "Business Model Archetypes." In Organizing for Sustainability, 75–90. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-78157-6_6.
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AbstractThe BMT provides the building blocks to develop a logic for a business model. In such a model the nature of value creation, how value creation is organized, and how transactions are taking shape are operationalized so that they meet the proposition. Practice shows that at present business models aimed at capturing multiple value creation can be divided into three major categories: (1) platform business models, (2) community-based (or collective) business models, and (3) circular business models. The three archetypes differ mainly in the way in which they create value, as well as the objective, the mechanism through which value creation takes place, and the infrastructural and technological requirements. When using the BMT, it is useful to consider at an early stage which business model archetype is dominant in the realization of the intended value proposition. Choosing a business model archetype might look straightforward, but it can be quite a tricky task.
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Yhee, Yerin, Jahyun Goo, and Chulmo Koo. "Meme Tourism: A Conceptual Framework." In Information and Communication Technologies in Tourism 2021, 328–33. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-65785-7_32.
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AbstractWith advances in technology affordances, contents generated by individual tourists in the tourism context has become an influential source of tourism information besides contents channeled by traditional mass media such as newspapers and broadcasts. Specifically, Meme Tourism (i.e., meme phenomenon in tourism) becomes one of the biggest trends in imitating and transforming/evolving tourism contents online, which is a byproduct of participatory culture that use text and visual images as means of user-generated communications in online communities through the exchange, distribution, and transactions. Understanding the emerging phenomena of meme in tourism would provide insights on tourists’ desires and behaviors in modern traveling. This study conceptualizes three major perspectives in tourism; 1) media-induced tourism, 2) user-generated content, and 3) social media activities, reflecting meme phenomena in tourism. Given the foundation provided, this study calls for a new stream of study in tourism that examines desire, motivation, and behavior of tourists in technology-enabled modern travel culture.
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Makka, Shanthi, Gagandeep Arora, and B. B. Sagar. "Consequent Formation in Security With Blockchain in Digital Transformation." In Impact of Digital Transformation on Security Policies and Standards, 122–44. IGI Global, 2020. http://dx.doi.org/10.4018/978-1-7998-2367-4.ch008.
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Blockchain technology makes use of a centralized, peer-to-peer (P2P) network of databases, also called nodes, to validate and record digital transactions between individual users located anywhere across the globe. These transactions often take place through the exchange of cryptocurrencies such as bitcoins, Ethereum, and Ripple, etc. The security and transparency that is inherently present in digital transactions place blockchain technology in high demand across various industrial applications. Each node updates its database in real-time as and when transactions occur. The transaction gets authorized only when a majority of the nodes in the network validate the transaction. Once the verification is complete, a block, consisting of hash and keys, is generated for each new transaction and is linked to previous transactions in every database. Every node updates its database with the new block. A hacker would have to break down every node in the system to commit fraud. Blockchain could play a major role in maintaining the cyber security of digital transactions in the future.
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Makka, Shanthi, Gagandeep Arora, and B. B. Sagar. "Consequent Formation in Security With Blockchain in Digital Transformation." In Research Anthology on Convergence of Blockchain, Internet of Things, and Security, 142–61. IGI Global, 2022. http://dx.doi.org/10.4018/978-1-6684-7132-6.ch009.
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Blockchain technology makes use of a centralized, peer-to-peer (P2P) network of databases, also called nodes, to validate and record digital transactions between individual users located anywhere across the globe. These transactions often take place through the exchange of cryptocurrencies such as bitcoins, Ethereum, and Ripple, etc. The security and transparency that is inherently present in digital transactions place blockchain technology in high demand across various industrial applications. Each node updates its database in real-time as and when transactions occur. The transaction gets authorized only when a majority of the nodes in the network validate the transaction. Once the verification is complete, a block, consisting of hash and keys, is generated for each new transaction and is linked to previous transactions in every database. Every node updates its database with the new block. A hacker would have to break down every node in the system to commit fraud. Blockchain could play a major role in maintaining the cyber security of digital transactions in the future.
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Raich, M., C. Adler, V. Stühlinger, N. Lorenzoni, and S. Duschek. "Impact of major incidents on health system performance, security and health protection." In WIT Transactions on The Built Environment, 1111–21. WIT Press, 2015. http://dx.doi.org/10.2495/sd150962.
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Zareapoor, Masoumeh, Pourya Shamsolmoali, and M. Afshar Alam. "Data Mining for Secure Online Payment Transaction." In Advances in Business Information Systems and Analytics, 62–89. IGI Global, 2017. http://dx.doi.org/10.4018/978-1-5225-2031-3.ch005.
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The fraud detection method requires a holistic approach where the objective is to correctly classify the transactions as legitimate or fraudulent. The existing methods give importance to detect all fraudulent transactions since it results in money loss. For this most of the time, they have to compromise on some genuine transactions. Thus, the major issue that the credit card fraud detection systems face today is that a significant percentage of transactions labelled as fraudulent are in fact legitimate. These “false alarms” delay the transactions and creates inconvenience and dissatisfaction to the customer. Thus, the objective of this research is to develop an intelligent data mining based fraud detection system for secure online payment transaction system. The performance evaluation of the proposed model is done on real credit card dataset and it is found that the proposed model has high fraud detection rate and less false alarm rate than other state-of-the-art classifiers.
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Susanto, Heru, Fahmi Ibrahim, Rodiah, Didi Rosiyadi, Desi Setiana, Alifya Kayla Shafa Susanto, Nicolas Kusuma, and Iwan Setiawan. "Securing Financial Inclusiveness Adoption of Blockchain FinTech Compliance." In FinTech Development for Financial Inclusiveness, 168–96. IGI Global, 2022. http://dx.doi.org/10.4018/978-1-7998-8447-7.ch010.
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Financial technology (FinTech) as part of financial inlcussion changes conventional business models to be information technology minded. The presence of FinTech in the wider community makes it easy for access to financial service products and transactions and payment systems more practically, efficiently, and economically. Unfortunately, as the security risk in transacting increases, cyber security in the financial services industry and FinTech service providers is considered a major target by cybercriminals. This study proposed a security management approach through hybrid blockchain method implemented through flask framework and encryption to protect transaction data. The results are promising. Referring to accuracy, this study successfully reduces data leakage and misuse of personal data and financial data in FinTechs.
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Sudha, R., G. Pooja, V. Revathy, and S. Dilip Kumar. "Enhanced Data Privacy Using Vertical Fragmentation and Data Anonymization Techniques." In Recent Trends in Intensive Computing. IOS Press, 2021. http://dx.doi.org/10.3233/apc210292.
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The use of online net banking official sites has been rapidly increased now a days. In online transaction attackers need only little information to steal the private information of bank users and can do any kind of fraudulent activities. One of the major drawbacks of commercial losses in online banking is fraud detected by credit card fraud detection system, which has a significant impact on clients. Fraudulent transactions will be discovered after the transaction is completed in the existing novel privacy models. As a result, in this paper, three level server systems are implemented to partition the intermediate gateway with better security. User details, transaction details and account details are considered as sensitive attributes and stored in separate database. And also data suppression scheme to replace the string and numerical characters into special symbols to overcome the traditional cryptography schemes is implemented. The Quasi-Identifiers are hidden by using Anonymization algorithm so that the transactions can be done efficiently.
Conference papers on the topic "Major transactions"
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"SUBJECT OF EVIDENCE IN CORPORATE DISPUTES ABOUT MAJOR TRANSACTIONS." In Current Issue of Law in the Banking Sphere. Samara State Economic University, 2019. http://dx.doi.org/10.46554/banking.forum-10.2019-100/104.
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Aydin, Mustafa, and Jeremy Jacob. "A comparison of major issues for the development of forensics in cloud computing." In 2013 8th International Conference for Internet Technology and Secured Transactions (ICITST). IEEE, 2013. http://dx.doi.org/10.1109/icitst.2013.6750166.
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Premkumar, Anitha. "An Applicability of Blockchain Model in Business use Case - A Technical Approach." In 2nd International Conference on Blockchain and Internet of Things (BIoT 2021). AIRCC Publishing Corporation, 2021. http://dx.doi.org/10.5121/csit.2021.110802.
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Business network brings many organizations close together to achieve their desired goals and profit from it. People from different organizations may or may not know each other but still can be part of a business network. A major challenge with these business networks is how to provide trust among people and data security. Blockchain is another means through which many organizations in the current digital age are overcoming these problems with ease. Blockchains have also changed the way the business transactions with clients take place. Blockchain is a decentralized distributed ledger in a peer to peer network which can be public or private, and it enables individuals or companies to collaborate with each other to achieve trust and transparency between business and its clients. Many implementations of blockchain technology are widely available today. Each of them have their own strengths for a specific application domain. They can fundamentally alter electronic communications with a potential to affect all sorts of transaction processing systems. However, there are still many challenges of blockchain technology waiting to be solved such as scalability and adoptability. In this paper, we provide the knowledge on Blockchain technology and we present the applicability of blockchain in the business models and also discuss the relevant use cases for Banking and Supply Chain models.
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Prousalidis, J., V. Georgiou, D. Spathis, D. Lyridis, F. Kanellos, P. Mitrou, and S. Dallas. "Elaborating Sustainable Port services for Greener Shipping." In International Conference on Marine Engineering and Technology Oman. London: IMarEST, 2019. http://dx.doi.org/10.24868/icmet.oman.2019.018.
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The paper deals with the new development perspectives of modern smart ports in an attempt to offer premium services to ships, passengers, commercial business, the environment even the society fully exploiting the smart grid concept. Besides highlighting the courses of actions towards such reformation, it is discussed that of major importance is the proper design of a centralized energy management system providing supervisory monitoring and control of all energy transactions among providers and consumers as well as their optimized co-operation.
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mane, Om, and Sarvanakumar kandasamy. "Stock Market Prediction using Natural Language Processing -a Survey." In 9th International Conference on Computer Science and Information Technology (CSIT 2022). Academy and Industry Research Collaboration Center (AIRCC), 2022. http://dx.doi.org/10.5121/csit.2022.121404.
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The stock market is a network which provides a platform for almost all major economic transactions. While investing in the stock market is a good idea, investing in individual stocks may not be, especially for the casual investor. Smart stock-picking requires in-depth research and plenty of dedication. Predicting this stock value offers enormous arbitrage profit opportunities. This attractiveness of finding a solution has prompted researchers to find a way past problems like volatility, seasonality, and dependence on time. This paper surveys recent literature in the domain of natural language processing and machine learning techniques used to predict stock market movements. The main contributions of this paper include the sophisticated categorizations of many recent articles and the illustration of the recent trends of research in stock market prediction and its related areas.
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Çelik, Sadullah, and Elif İşbilen. "An Unconventional Example of Big Data: BIST-100 Banking Sub-Index of Turkey." In CARMA 2018 - 2nd International Conference on Advanced Research Methods and Analytics. Valencia: Universitat Politècnica València, 2018. http://dx.doi.org/10.4995/carma2018.2018.8356.
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This paper applies Big Data concept to an emerging economy stock exchange market by examining the relationship between price and volume of the Banking index in BIST-100. Stock markets have been commonly analyzed in big data studies as they are one of the main sources of rich data with recordings of hourly and minutely transactions. In this sense, nowcasting the economic outlook has been related to the fluctuations in the stock exchange market as news from companies open to public became important sources of changes in expectations for economic agents. However, most of the previous studies concentrated on the main stock market indices rather than the major sub-indices. This study covers the period 13 December 2017 – 12 March 2018, with minute data and approximately 31000 observations for each of the 11 bank stocks. The effects of stock market movements on exchange rates and interest rates are also examined. The methodologies used are frequency domain Granger causality of Breitung and Candelon (2006) and wavelet coherence of Grinsted et al. (2004). The main finding is the supremacy of the banking index as it seems to have great influence on economic fluctuations in Turkish economy through other high frequency variables and the households’ expectations.
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Zhu, Yada, Jianbo Li, Jingrui He, Brian L. Quanz, and Ajay A. Deshpande. "A Local Algorithm for Product Return Prediction in E-Commerce." In Twenty-Seventh International Joint Conference on Artificial Intelligence {IJCAI-18}. California: International Joint Conferences on Artificial Intelligence Organization, 2018. http://dx.doi.org/10.24963/ijcai.2018/517.
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With the rapid growth of e-tail, the cost to handle returned online orders also increases significantly and has become a major challenge in the e-commerce industry. Accurate prediction of product returns allows e-tailers to prevent problematic transactions in advance. However, the limited existing work for modeling customer online shopping behaviors and predicting their return actions fail to integrate the rich information in the product purchase and return history (e.g., return history, purchase-no-return behavior, and customer/product similarity). Furthermore, the large-scale data sets involved in this problem, typically consisting of millions of customers and tens of thousands of products, also render existing methods inefficient and ineffective at predicting the product returns. To address these problems, in this paper, we propose to use a weighted hybrid graph to represent the rich information in the product purchase and return history, in order to predict product returns. The proposed graph consists of both customer nodes and product nodes, undirected edges reflecting customer return history and customer/product similarity based on their attributes, as well as directed edges discriminating purchase-no-return and no-purchase actions. Based on this representation, we study a random-walk-based local algorithm for predicting product return propensity for each customer, whose computational complexity depends only on the size of the output cluster rather than the entire graph. Such a property makes the proposed local algorithm particularly suitable for processing the large-scale data sets to predict product returns. To test the performance of the proposed techniques, we evaluate the graph model and algorithm on multiple e-commerce data sets, showing improved performance over state-of-the-art methods.
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Andrews, David John. "Babies, Bathwater and Balance – The Fuzzy Half of Ship Design and Recognising its Importance." In SNAME Maritime Convention. SNAME, 2022. http://dx.doi.org/10.5957/smc-2022-011.
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This paper addresses some of the wider issues in the design process for complex vessels with regards in particular to the design of naval ships and submarines. The presentation is given from the perspective of a British naval constructor, who spent the second half of his career teaching and researching into the design of complex vessels. This is presented to SNAME drawing on parallels with US Navy design practice from the author’s personal involvement in the design history of many of the designs that were built for the Royal Navy. A large number of the author’s publications have not been exposed directly to a SNAME audience so this paper compares and contrasts UK practice with that revealed particularly in the publications of the former Technical Director NAVSEA –Robert Keane – and his several co-authors. The paper’s title is deliberately contrived in its alliteration commencing with a phrase taken from an early critique of systems engineering by an eminent British naval constructor, querying whether systems engineering could provide the philosophical basis for modern naval ship design (NSD). The third “B” is considered to be a key technical characteristic in designing such complex systems, that of achieving a balanced design. In this regard the paper questions why the other major stakeholders in NSD, including collaborating engineers other than naval architects, seem to have such difficulty in appreciating the nature of ship design, particularly in the crucial early stages when most critical design decisions are made. The author draws upon a major paper published in 2018 in the RINA Transactions together with its written discussion by Robert Keane among others. A major point made in that paper is that not all designs follow the same process – in fact every new design is different and therefore the applicability of any process needs to be challenged. However, the intent of the current paper is to go beyond the largely technical argument of the 2018 paper by addressing the wider “fuzzy” half of ship design, in particular regarding the environment in which such “sophisticated” design is undertaken. Furthermore the consequences for the resulting vessels from such a constrained and often fraught process and professional practice are relevant to achieving the final complex design entity. The paper concludes by considering essential design engineering demands can be balanced with the pragmatic necessities of the design practice driven by the imperatives of the wider design environment and engineering practice. This consideration draws on not just the many and varied naval vessel projects the author has been involved in but also the subsequent research activities in the last two decades at University College London, where the UK naval constructors are trained in ship and submarine design. This leads on to considering how future research into complex ship design can be sustained through a mix of academic and practitioner collaboration. Finally, consideration is given to the complexities of the design environment and changing practices regarding how the profession of naval architecture can ensure future naval architects are best equipped to manage such complex ship and submarine designs. This applies not just in the Concept Phase but also through life as naval architecture is the only engineering discipline that can truly exercise design authority for such complex systems.
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Belu, Radian, Richard Chiou, and Tzu-Liang (Bill) Tseng. "Sustainable and Renewable Energy Undergraduate Research." In ASME 2014 International Mechanical Engineering Congress and Exposition. American Society of Mechanical Engineers, 2014. http://dx.doi.org/10.1115/imece2014-38362.
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Energy is a continuous driving force for the social and technological prospective developments and a vital and essential ingredient for all human transactions. The world is facing an energy “crisis”, due to limited fossil fuel resources, growing energy demand and population. All these facts led to and increased interests in renewable energy sources and green manufacturing. Equipping engineering students with the skills and knowledge required to be successful global engineers in the 21st century is one of the primary objectives of academic educators. Enabling students to practice self-directed learning, find design solutions that are sustainable, and helping them recognize that they are part of a global community are just of few of our educational goals. Project-based learning provides the contextual environment making learning exciting and relevant, providing opportunities to explore technical problems from systems-level perspectives, with an appreciation for the inter-connectedness of science principles. The quest for knowledge is the driving force behind education no matter what field is being studied. This means a lot of reading from textbooks, completion of assignments, exams, lectures but quite little of this work involves original research. Active research experience is one of the most effective ways to attract and retain talented undergraduates in science and engineering. At our institutions, we are regularly modifying curriculum content to embrace sustainability and green energy concepts in learning outcomes. However this crosses over between a numbers of multi-disciplinary, multidimensional study areas that include philosophy and ethics. Consequently a major challenge for us is to encourage engineering students whose primary focus is purely technical to include sustainability and renewable energy topics in their designs. To join into this effort of equipping the future engineers and technologists with renewable energy background, we developed a set of project-based courses related to these topics and include them also in our senior project design course sequence. The main objectives of these curricula changes are to provide students with theoretical and practical knowledge reinforced by hands-on experience. These projects are also good examples of multi-disciplinary cooperation of different engineering disciplines as well as providing valuable hands-on and research experience. This paper presents the changes in the course structure, sample of projects, student survey of the course, as well as plans and expectations for future success. We are also discussing here the project team structure, plan and management, component selection, system simulation, and experimental result.
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Filimonova, Irina V. "Evaluation of the influence of structural shifts in the subsoil use on the efficiency of the oil and gas complex of Russia." In Недропользование. Горное дело. Направления и технологии поиска, разведки и разработки месторождений полезных ископаемых. Экономика. Геоэкология. Федеральное государственное бюджетное учреждение науки Институт нефтегазовой геологии и геофизики им. А.А. Трофимука Сибирского отделения Российской академии наук, 2020. http://dx.doi.org/10.18303/b978-5-4262-0102-6-2020-100.
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The article analyzes the current state of the oil and gas complex in Russia. Steady trends in changes in the structure of production by major mining macro–regions and companies have been identified. Systematized conditions that contributed to the deterioration of the parameters of the oil and gas complex of Russia. Among which are a reduction in oil production in the framework of the agreements between the participating countries OPEC + transaction in April 2020, falling oil prices on the world market, in particular Urals, to $ 15–20 per barrel, reduced demand for oil and other energy carriers due to the multiplier effect on the production and other sectors of the economy from the spread of coronavirus.
Reports on the topic "Major transactions"
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Quak, Evert-jan. The Trend Of “De-Risking” In International Finance and Its Impact on Small Island Developing States. Institute of Development Studies, May 2022. http://dx.doi.org/10.19088/k4d.2022.079.
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This rapid review synthesises the literature from academic sources, knowledge institutions, non-governmental organisations (NGOs), and trusted independent media outlets on the challenges small island development states (SIDS) face when they lose correspondent banking relationships (CBRs). The rapid review concludes that, although the loss of CBRs is a global phenomenon, regions with SIDS, such as the Pacific and Caribbean, have seen the highest rates of withdrawals. During the last decade, local and regional banks in SIDS have lost and continue to lose bank accounts at large global banks to a critical level, sometimes having only one or none CBRs with banks in major economies, such as the Unites States, the United Kingdom, the European Union or Australia. This means that local banks have reduced access to financial services related to cross-border financial transactions, impacting on remittances and trade finance.
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Biggs, Carl T., Diana I. Angelis, Laura Armey, and Raymond Franck. Transaction Costs and Cost Breaches in Major Defense Acquisition Programs. Fort Belvoir, VA: Defense Technical Information Center, February 2014. http://dx.doi.org/10.21236/ada612617.
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Payment Systems Report - June of 2021. Banco de la República, February 2022. http://dx.doi.org/10.32468/rept-sist-pag.eng.2021.
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Banco de la República provides a comprehensive overview of Colombia’s finan¬cial infrastructure in its Payment Systems Report, which is an important product of the work it does to oversee that infrastructure. The figures published in this edition of the report are for the year 2020, a pandemic period in which the con¬tainment measures designed and adopted to alleviate the strain on the health system led to a sharp reduction in economic activity and consumption in Colom¬bia, as was the case in most countries. At the start of the pandemic, the Board of Directors of Banco de la República adopted decisions that were necessary to supply the market with ample liquid¬ity in pesos and US dollars to guarantee market stability, protect the payment system and preserve the supply of credit. The pronounced growth in mone¬tary aggregates reflected an increased preference for liquidity, which Banco de la República addressed at the right time. These decisions were implemented through operations that were cleared and settled via the financial infrastructure. The second section of this report, following the introduction, offers an analysis of how the various financial infrastructures in Colombia have evolved and per¬formed. One of the highlights is the large-value payment system (CUD), which registered more momentum in 2020 than during the previous year, mainly be¬cause of an increase in average daily remunerated deposits made with Banco de la República by the General Directorate of Public Credit and the National Treasury (DGCPTN), as well as more activity in the sell/buy-back market with sovereign debt. Consequently, with more activity in the CUD, the Central Securi¬ties Depository (DCV) experienced an added impetus sparked by an increase in the money market for bonds and securities placed on the primary market by the national government. The value of operations cleared and settled through the Colombian Central Counterparty (CRCC) continues to grow, propelled largely by peso/dollar non-deliverable forward (NDF) contracts. With respect to the CRCC, it is important to note this clearing house has been in charge of managing risks and clearing and settling operations in the peso/dollar spot market since the end of last year, following its merger with the Foreign Exchange Clearing House of Colombia (CCDC). Since the final quarter of 2020, the CRCC has also been re¬sponsible for clearing and settlement in the equities market, which was former¬ly done by the Colombian Stock Exchange (BVC). The third section of this report provides an all-inclusive view of payments in the market for goods and services; namely, transactions carried out by members of the public and non-financial institutions. During the pandemic, inter- and intra-bank electronic funds transfers, which originate mostly with companies, increased in both the number and value of transactions with respect to 2019. However, debit and credit card payments, which are made largely by private citizens, declined compared to 2019. The incidence of payment by check contin¬ue to drop, exhibiting quite a pronounced downward trend during the past last year. To supplement to the information on electronic funds transfers, section three includes a segment (Box 4) characterizing the population with savings and checking accounts, based on data from a survey by Banco de la República con-cerning the perception of the use of payment instruments in 2019. There also is segment (Box 2) on the growth in transactions with a mobile wallet provided by a company specialized in electronic deposits and payments (Sedpe). It shows the number of users and the value of their transactions have increased since the wallet was introduced in late 2017, particularly during the pandemic. In addition, there is a diagnosis of the effects of the pandemic on the payment patterns of the population, based on data related to the use of cash in circu¬lation, payments with electronic instruments, and consumption and consumer confidence. The conclusion is that the collapse in the consumer confidence in¬dex and the drop in private consumption led to changes in the public’s pay¬ment patterns. Credit and debit card purchases were down, while payments for goods and services through electronic funds transfers increased. These findings, coupled with the considerable increase in cash in circulation, might indicate a possible precautionary cash hoarding by individuals and more use of cash as a payment instrument. There is also a segment (in Focus 3) on the major changes introduced in regulations on the retail-value payment system in Colombia, as provided for in Decree 1692 of December 2020. The fourth section of this report refers to the important innovations and tech¬nological changes that have occurred in the retail-value payment system. Four themes are highlighted in this respect. The first is a key point in building the financial infrastructure for instant payments. It involves of the design and im¬plementation of overlay schemes, a technological development that allows the various participants in the payment chain to communicate openly. The result is a high degree of interoperability among the different payment service providers. The second topic explores developments in the international debate on central bank digital currency (CBDC). The purpose is to understand how it could impact the retail-value payment system and the use of cash if it were to be issued. The third topic is related to new forms of payment initiation, such as QR codes, bio¬metrics or near field communication (NFC) technology. These seemingly small changes can have a major impact on the user’s experience with the retail-value payment system. The fourth theme is the growth in payments via mobile tele¬phone and the internet. The report ends in section five with a review of two papers on applied research done at Banco de la República in 2020. The first analyzes the extent of the CRCC’s capital, acknowledging the relevant role this infrastructure has acquired in pro¬viding clearing and settlement services for various financial markets in Colom¬bia. The capital requirements defined for central counterparties in some jurisdic¬tions are explored, and the risks to be hedged are identified from the standpoint of the service these type of institutions offer to the market and those associated with their corporate activity. The CRCC’s capital levels are analyzed in light of what has been observed in the European Union’s regulations, and the conclusion is that the CRCC has a scheme of security rings very similar to those applied internationally and the extent of its capital exceeds what is stipulated in Colombian regulations, being sufficient to hedge other risks. The second study presents an algorithm used to identify and quantify the liquidity sources that CUD’s participants use under normal conditions to meet their daily obligations in the local financial market. This algorithm can be used as a tool to monitor intraday liquidity. Leonardo Villar Gómez Governor