Omnibus accounts to Finnish investors? – An analysis of the costs and benefits that omnibus account structure brings to Finnish account operators and investors

The Finnish Securities Markets are being harmonized to enable better, more reliable and timely settlement of securities. Omnibus accounts are a common practice in the European securities markets. Finland forbids the use of omnibus accounts from its domestic investors. There is a possibility that the omnibus account usage is allowed for Finnish investors in the future. This study aims to build a comprehensive image to Finnish investors and account operators in determining the costs and benefits that the omnibus account structure would have for them. This study uses qualitative research methods. A literature review provides the framework for this study. Different kinds of research articles, regulatory documents, studies performed by European organisations, and Finnish news reportages are used to analyse the costs and benefits of omnibus accounts. The viewpoint is strictly of account operators and investors, and different effects on them are contemplated. The results of the analysis show that there are a number of costs and benefits that investors and account operators must take into consideration regarding omnibus accounts. The costs are related to development of IT-systems so that participants are able to adapt to the new structure and operate according to its needs. Decrease in the holdings’ transparency is a disadvantage of the structure and needs to be assessed precisely to avoid some problems it might bring. Benefits are mostly related to the increased competition in the securities markets as well as to the possible cost reductions of securities settlement. The costs and benefits were analysed according to the study plan of this thesis and as a result, the significance and impact of omnibus accounts to Finnish investors and account operators depends on the competition level and the decisions that all market participants make when determining if the account structure is beneficial for their operations.

Training distribution and the acquisition of maximal isometric elbow flexion strength

Twenty-six sedentary, college-aged females were matched and randomly assigned to one of two groups. The massed group (n=13) completed 15 maximal isometric elbow flexion strength trials in one session, while the distributed group (n=13) performed five such contractions on three successive days. After a two-week and three month rest interval, both groups returned to perfonn another five maximal isometric elbow flexion strength trials to assess retention of any potential strength gains. Elbow flexion torque and surface electromyography (SEMG) of the biceps and triceps were monitored concurrently. There was a significant (P < 0.05) increase in strength in both groups from block one (first five contractions) to block four (first retest) and from block one to block five (second retest). Both groups exhibited a similar linear increasing (P < 0.05) trend in biceps root-mean-square (RMS) SEMG amplitude. A significant (P < 0.05) decrease in triceps RMS SEMG amplitude was found between block one and block four for the distributed group. However, a significant (P < 0.05) increase was then found between block one and five for the massed group, and between blocks four and five for distributed group. These results suggest that there is flexibility in resistive exercise schedules. An increase in neural drive to the agonist muscle continued throughout testing. This was accompanied by a reduction in antagonist co activation that was a short-tenn (two weeks) training effect, dissipated over the longer rest interval (three months).

Maximal-Element Rationalizability

We examine the maximal-element rationalizability of choice functions with arbitrary do-mains. While rationality formulated in terms of the choice of greatest elements according to a rationalizing relation has been analyzed relatively thoroughly in the earlier litera-ture, this is not the case for maximal-element rationalizability, except when it coincides with greatest-element rationalizability because of properties imposed on the rationalizing relation. We develop necessary and sufficient conditions for maximal-element rationaliz-ability by itself, and for maximal-element rationalizability in conjunction with additional properties of a rationalizing relation such as re exivity, completeness, P-acyclicity, quasi-transitivity, consistency and transitivity.

Comparaison de la performance à l’exercice de patients souffrant d’insuffisance cardiaque sévère à une épreuve d’effort maximal, une épreuve sous-maximale et un test de marche

L’insuffisance cardiaque est une pathologie provoquant une diminution importante des capacités fonctionnelles des patients ainsi qu’une diminution drastique de la qualité de vie. L’évaluation des capacités fonctionnelles est généralement effectuée par une épreuve d’effort maximal. Cependant pour plusieurs patients, cet effort est difficile à compléter. Les objectifs de l’étude présentée dans ce mémoire sont : (1) valider trois méthodes d’évaluation de la capacité fonctionnelle et aérobie des sujets souffrant d’insuffisance cardiaque avec un complexe QRS élargi; (2) chercher à établir le profil des patients démontrant une meilleure tolérance à l’exercice malgré une consommation maximale d’oxygène identique; et (3) démontrer les conséquences de la présence et de la magnitude de l’asynchronisme cardiaque dans la capacité fonctionnelle et la tolérance à l’exercice. Tous les sujets ont été soumis à un test de marche de six minutes, un test d’endurance à charge constante sur tapis roulant et à une épreuve d’effort maximal avec mesure d’échanges gazeux à la bouche. Les résultats ont montré une association significative entre les épreuves maximale et plus spécifiquement sous-maximale. De plus, une meilleure tolérance à l’exercice serait associée significativement à une plus grande masse du ventricule gauche. Finalement, les résultats de notre étude n’ont pas montré d’effet d’un asynchronisme cardiaque sur la performance à l’effort tel qu’évalué par nos protocoles.

Comparaison des réponses physiologiques lors d’un exercice incrémental maximal sur vélo immergé et sur terrain sec : aspects biomécaniques, cardiopulmonaires et hémodynamiques.

L’exercice en immersion dans l'eau peut générer des réponses hémodynamiques et cardiorespiratoires différentes à celles de l’exercice sur terraine sec. Cependant, aucune étude n’a comparé ces réponses sur vélo aquatique (VA) à celles sur vélo sur terrain sec (VS) à une même puissance mécanique externe (Pext). À cet égard, le premier travail de cette thèse visait, d’abord, à trouver les équivalences de Pext lors du pédalage sur VA en immersion à la poitrine par rapport au VS au laboratoire, en considérant que cela restait non déterminé à ce jour. Une équation de mécanique des fluides fut utilisée pour calculer la force déployée pour le système de pédalage (pales, leviers, pédales) et des jambes à chaque tour de pédale. Ensuite, cette force totale a été multipliée par la vitesse de pédalage pour estimer la Pext sur VA. Ayant trouvé les équivalences de Pext sur VA et VS, nous nous sommes fixés comme objectif dans la deuxième étude de comparer les réponses hémodynamiques et cardiorespiratoires lors d'un exercice maximal progressif sur VS par rapport au VA à une même Pext. Les résultats ont montré que le VO2 (p<0.0001) et la différence artério-veineuse (C(a-v)O2) (p<0.0001) étaient diminués lors de l’exercice sur VA comparativement à celui sur VS. Parmi les variables hémodynamiques, le volume d’éjection systolique (VES) (p˂0.05) et le débit cardiaque (Qc) (p˂0.05) étaient plus élevés sur VA. En plus, on nota une diminution significative de la fréquence cardiaque (FC) (p˂0.05). Étant donné qu’à une même Pext les réponses physiologiques sont différentes sur VA par rapport à celles sur VS, nous avons effectué une troisième étude pour établir la relation entre les différentes expressions de l'intensité relative de l'exercice (% du VO2max,% de la FCmax,% du VO2 de réserve (% de VO2R) et % de la FC réserve (% FCR)). Les résultats ont démontré que la relation % FCR vs % VO2R était la plus corrélée (régression linéaire) et la plus proche de la ligne d’identité. Ces résultats pourraient aider à mieux prescrire et contrôler l’intensité de l'exercice sur VA pour des sujets sains. Finalement, une dernière étude comparant la réactivation parasympathique après un exercice maximal incrémental effectué sur VA et VS en immersion au niveau de la poitrine a montré que la réactivation parasympathique à court terme était plus prédominante sur VA (i,e. t, delta 10 à delta 60 et T30, p<0.05). Cela suggérait, qu’après un exercice maximal sur VA, la réactivation parasympathique à court terme était accélérée par rapport à celle après l'effort maximal sur VS chez de jeunes sujets sains. En conclusion, nous proposons une méthode de calcul de la puissance mécanique externe sur VA en fonction de la cadence de pédalage. Nous avons démontré que pendant l’exercice sur VA les réponses hémodynamiques et cardiorespiratoires sont différentes de celles sur VS à une même Pext et nous proposons des équations pour le calcul du VO2 dans l’eau ainsi qu’une méthode pour la prescription et le contrôle de l’exercice sur VA. Finalement, la réactivation parasympathique à court terme s’est trouvée accélérée après un effort maximal incrémental sur VA comparativement à celle sur VS.

ON APPROXIMATION METHODS FOR UNBOUNDED OPERATORS

Department of Mathematics, Cochin University of Science and Technology

Studies on some graph operators and related topics

Department of Mathematics, Cochin University of Science and Technology

A Study of Elementary Operators

Department of Mathematics, Cochin University of Science and Technology

Spectral Analysis of Bounded Self-adjoint operators - A Linear Algebraic Approach

This thesis Entitled Spectral theory of bounded self-adjoint operators -A linear algebraic approach.The main results of the thesis can be classified as three different approaches to the spectral approximation problems. The truncation method and its perturbed versions are part of the classical linear algebraic approach to the subject. The usage of block Toeplitz-Laurent operators and the matrix valued symbols is considered as a particular example where the linear algebraic techniques are effective in simplifying problems in inverse spectral theory. The abstract approach to the spectral approximation problems via pre-conditioners and Korovkin-type theorems is an attempt to make the computations involved, well conditioned. However, in all these approaches, linear algebra comes as the central object. The objective of this study is to discuss the linear algebraic techniques in the spectral theory of bounded self-adjoint operators on a separable Hilbert space. The usage of truncation method in approximating the bounds of essential spectrum and the discrete spectral values outside these bounds is well known. The spectral gap prediction and related results was proved in the second chapter. The discrete versions of Borg-type theorems, proved in the third chapter, partly overlap with some known results in operator theory. The pure linear algebraic approach is the main novelty of the results proved here.

A Study of Morphological Operators with Applications

The present work deals with the A study of morphological opertors with applications. Morphology is now a.necessary tool for engineers involved with imaging applications. Morphological operations have been viewed as filters the properties of which have been well studied (Heijmans, 1994). Another well-known class of non-linear filters is the class of rank order filters (Pitas and Venetsanopoulos, 1990). Soft morphological filters are a combination of morphological and weighted rank order filters (Koskinen, et al., 1991, Kuosmanen and Astola, 1995). They have been introduced to improve the behaviour of traditional morphological filters in noisy environments. The idea was to slightly relax the typical morphological definitions in such a way that a degree of robustness is achieved, while most of the desirable properties of typical morphological operations are maintained. Soft morphological filters are less sensitive to additive noise and to small variations in object shape than typical morphological filters. They can remove positive and negative impulse noise, preserving at the same time small details in images. Currently, Mathematical Morphology allows processing images to enhance fuzzy areas, segment objects, detect edges and analyze structures. The techniques developed for binary images are a major step forward in the application of this theory to gray level images. One of these techniques is based on fuzzy logic and on the theory of fuzzy sets.Fuzzy sets have proved to be strongly advantageous when representing in accuracies, not only regarding the spatial localization of objects in an image but also the membership of a certain pixel to a given class. Such inaccuracies are inherent to real images either because of the presence of indefinite limits between the structures or objects to be segmented within the image due to noisy acquisitions or directly because they are inherent to the image formation methods.

Effectiveness Of Feature Detection Operators On The Performance Of Iris Biometric Recognition System

Iris Recognition is a highly efficient biometric identification system with great possibilities for future in the security systems area.Its robustness and unobtrusiveness, as opposed tomost of the currently deployed systems, make it a good candidate to replace most of thesecurity systems around. By making use of the distinctiveness of iris patterns, iris recognition systems obtain a unique mapping for each person. Identification of this person is possible by applying appropriate matching algorithm.In this paper, Daugman’s Rubber Sheet model is employed for irisnormalization and unwrapping, descriptive statistical analysis of different feature detection operators is performed, features extracted is encoded using Haar wavelets and for classification hammingdistance as a matching algorithm is used. The system was tested on the UBIRIS database. The edge detection algorithm, Canny, is found to be the best one to extract most of the iris texture. The success rate of feature detection using canny is 81%, False Accept Rate is 9% and False Reject Rate is 10%.

Maximal compactness, min- imal Hausdor ness and reversibility of frames and a study on automorphism group of frames

One can do research in pointfree topology in two ways. The rst is the contravariant way where research is done in the category Frm but the ultimate objective is to obtain results in Loc. The other way is the covariant way to carry out research in the category Loc itself directly. According to Johnstone [23], \frame theory is lattice theory applied to topology whereas locale theory is topology itself". The most part of this thesis is written according to the rst view. In this thesis, we make an attempt to study about 1. the frame counterparts of maximal compactness, minimal Hausdor - ness and reversibility, 2. the automorphism groups of a nite frame and its relation with the subgroups of the permutation group on the generator set of the frame

Spacelike maximal surfaces in 3D Lorentz-Minkowski space

We investigate spacelike maximal surfaces in 3-dimensional Lorentz-Minkowski space, give an Enneper-Weierstrass representation of such surfaces and classify those with a Lorentzian or Euclidian rotation symmetry.