$Q,QWHJUDWHG)UDPHZRUNIRU6HQVRU%DVHG(PEHGGHG6\VWHPV
0LURVODY6YHGD
)DFXOW\RI,QIRUPDWLRQ7HFKQRORJ\
%UQR8QLYHUVLW\RI7HFKQRORJ\
&]HFK5HSXEOLF
VYHGD#ILWYXWEUF]
5DGLPLU9UED
)DFXOW\RI(OHFWULFDO(QJ &RPPXQLFDWLRQ
%UQR8QLYHUVLW\RI7HFKQRORJ\
&]HFK5HSXEOLF
YUEDU#IHHFYXWEUF]
$EVWUDFW
DOVR GLUHFW FRXSOLQJ WR WKH
(WKHUQHWEDVHG ,QWUDQHW 7KH
UHODWHG VWDQGDUGV LQFOXGH WKH ,((( REMHFWRULHQWHG
7KLV
SDSHU
SUHVHQWV
DQ
DSSOLFDWLRQ
RI
QHWZRUNHG
LQIRUPDWLRQ
PRGHO
WDUJHWLQJ
VRIWZDUHEDVHG
QHWZRUN
VHQVRUV WKDW RIIHUV D GHVLJQ SDWWHUQ IRU D FODVV RI VHQVRU
LQGHSHQGHQW WUDQVGXFHU DSSOLFDWLRQ HQYLURQPHQWV ZLWK WKH
EDVHG HPEHGGHG V\VWHPV ,W GHDOV ZLWK DQ LQWHJUDWHG
,((( VWDQGDUG GLJLWDO LQWHUIDFH DQG FRPPXQLFDWLRQ
IUDPHZRUN EDVHG RQ VPDUW WUDQVGXFHU LQWHUIDFH VWDQGDUG
SURWRFRO
,(((
0LFURVRIW V
PXOWLFDVW
XQLILHG
RQ
9LUWXDO
DQG
IURP
YLFH
DUFKLWHFWXUH
,QWHUIDFH
FRPPXQLFDWLRQ
DFFHVV
V\VWHPV
PHVVDJLQJ
YHUVD
$UFKLWHFWXUH
PHGLDWLQJ
,QWHUQHW
&RPSDT,QWHO
WR
.HUQHO
DQ
DQG
VHQVRUEDVHG
RI
WKH
RQ
HIILFLHQW
SDSHU
,3
DQG
HPEHGGHG
IRFXVHV
IRU
DGGLWLRQDO
9,$
DFFHVVLQJ
VHQVRUV
WHFKQRORJLHV
DQG
9LUWXDO
DFWXDWRUV
,QWHUIDFH
7ZR
$UFKLWHFWXUH
DQG ,3 PXOWLFDVWLQJ FRPSOHPHQW WKH LQWHJUDWHG
IUDPHZRUN SURYLGLQJ D GHVLJQ SDWWHUQ UHXVDEOH IRU YDULRXV
VHQVRUEDVHG
HPEHGGHG V\VWHPV
7KH QH[W VHFWLRQ RI WKLV SDSHU UHYLHZV VWDWH RI WKH DUW RI
RQ
XWLOL]DWLRQ RI WKH IUDPHZRUN IRU D FRPSXWHUEDVHG SUHVVXUH
VHQVRUEDVHG
PHDVXUHPHQW V\VWHP DV D UHDOZRUOG SURMHFW VWUHVVLQJ LWV
UHXVDEOH
FRPPXQLFDWLRQ
,QWHUQHW 7KH IROORZLQJ WZR VHFWLRQV LQWURGXFH ERWK WKH
GHPRQVWUDWHV
DUFKLWHFWXUH
DQ
DSSOLFDWLRQ
7KH
RI
SUHVHQWHG
D
QRYHO
FDVH
GHVLJQ
VWXG\
SDWWHUQ
IRU
DSSURDFKHV ,QWHUQHW WHFKQRORJLHV QDPHO\ G\QDPLFDO :HE
SDJHV DQG 7&3,3 ZLWK (WKHUQHW DUH UDSLGO\ EHFRPLQJ WKH
SUHIHUUHG FKRLFH IRU EXLOGLQJ QH[W JHQHUDWLRQ GLVWULEXWHG
PHDVXUHPHQW DQG FRQWURO V\VWHPV 7KLV SDSHU SUHVHQWV DQ
QHWZRUNHG
VHQVRUV
WKDW
RIIHUV
D
GHVLJQ
SDWWHUQ IRU D FODVV RI VHQVRUEDVHG HPEHGGHG V\VWHPV ,W
WUDQVGXFHU
DQ
DQ
VHQVRUEDVHG
DQG
RQ
IURP
,3
DQG
HPEHGGHG
ZKLFK
LQWHUIDFH
VWDQGDUG
HIILFLHQW
IUDPHZRUN
,(((
IUDPHZRUN
,(((
FDQ
XQLILHG
VXSSRUW
DUFKLWHFWXUH
WKDW
DFFHVV
DQG
WKH
WUDQVGXFHU
LQWHUIDFH
VWDQGDUGEDVHG
LWV
H[WHQVLRQ
E\
IRU
VHQVRUV
QHWZRUNLQJ
9,$
LQFOXGLQJ
ZLWK
WKH
DQG
IUDPHZRUN
PHVVDJLQJ
DQG
,3
WR
RQ
VPDUW
PHVVDJLQJ
,QWHUIDFH
GLVWULEXWHG
VHQVRUEDVHG
DSSOLDQFHV
VWUHVVLQJ
WKH
,QWUDQHW FRQQHFWLYLW\ LVVXHV
6WDWHRIWKHDUW
,QIRUPDWLRQ DSSOLDQFHV DUH ³VPDUW GHYLFHV´ HPEHGGHG
ZLWK PLFURSURFHVVRUV WKDW DOORZ XVHUV WR SOXJ LQWR LQWHOOLJHQW
QHWZRUNV DQG JDLQ GLUHFW VLPSOH DQG VHFXUH DFFHVV ERWK WR
UHOHYDQW
LQIRUPDWLRQ
DSSOLDQFHV VWHP
DQG
VHUYLFHV
IURP GLVWULEXWHG
>@
6HQVRUEDVHG
VHQVRU QHWZRUNV
'61
WKDW FRQVLVW RI PDQ\ VPDOO ORZFRVW VSDWLDOO\ GLVSHUVHG
FRPPXQLFDWLQJ QRGHV >@ 0DQ\ RQJRLQJ UHVHDUFK SURJUDPV
SXUVXH
'61
WHFKQRORJLHV
DQG
VHHN
WR
H[WHQG
WKHLU
FRPPXQLFDWLRQ
FDSDELOLWLHV 5HODWHG UHVHDUFK SURMHFWV FXUUHQWO\ IXQGHG E\
IURP
'$53$ LQ IUDPH RI WKH 6HQVRU ,QIRUPDWLRQ 7HFKQRORJ\
YLFH
FXUUHQW
VSHFLI\LQJ
HQDEOHV
RQ
9LUWXDO
PXOWLFDVW
V\VWHPV
VWDQGDUGV
EDVHG
&RPSDT,QWHO0LFURVRIW V
$UFKLWHFWXUH
PHGLDWLQJ
LQWHJUDWHG
LQWHUIDFH
DUFKLWHFWXUH
DQG
QHWZRUNV
QRYHO GHVLJQ SDWWHUQ EDVHG RQ WKDW LQWHJUDWHG IUDPHZRUN
PLJUDWLQJ DZD\ IURP ILHOGEXVEDVHG SURSULHWDU\ KDUGZDUH
ZLWK
D
VHQVRU
LQWHUFRQQHFWLRQV
7KH NHUQHO RI WKH SDSHU GHPRQVWUDWHV WKH DSSOLFDWLRQ RI D
DQG VRIWZDUH SODWIRUPV LQ IDYRU RI RSHQ DQG VWDQGDUGL]HG
GHDOV
VPDUW
DV
DQG
IRU
PXOWLFDVW LQ WKH FRQWH[W RI ,QWHUQHW FRXSOLQJ DUFKLWHFWXUHV
,PSRUWDQW DQG HYHU JURZLQJ SDUW RI FXUUHQW LQGXVWU\ LV
RI
EDFNERQH
,QWURGXFWLRQ
DSSOLFDWLRQ
,(((
DFWXDWRUV
DLPHG DW GLVWULEXWHG VHQVRUEDVHG DSSOLDQFHV
DSSOLDQFHV
DUFKLWHFWXUHV
,QWHUQHW
YHUVD
WUHQG
VPDUW
XQLI\
WR
7KH
VWHPV
WUDQVGXFHU
QRW
RQO\
LQWHUFRQQHFWLQJ VPDUW VHQVRUV ZLWK YDULRXV ILHOGEXVHV EXW
5HVHDUFK $UHD LQFOXGH VHOIRUJDQL]LQJ VHQVRU QHWZRUNV ZLWK
UHFRQILJXUDEOH
VPDUW
DFWLYH VHQVRU QHWZRUNV
VHUYLFHV
IRU
FRPSRQHQWV
$XEXUQ
8QLYHUVLW\
&ROXPELD 8QLYHUVLW\ GLVWULEXWHG
PLFURVHQVRU
QHWZRUNV
5RFNZHOO
6FLHQFH
&HQWHU UHDFWLYH VHQVRU QHWZRUNV
G\QDPLF
VHQVRU
&DOLIRUQLD
QHWZRUNV
3HQQ 6WDWH 8QLYHUVLW\
8QLYHUVLW\
RI
DQG ORFDWLRQFHQWULF GLVWULEXWHG FRPSXWDWLRQ
DQG VLJQDO SURFHVVLQJ LQ PLFURVHQVRU QHWZRUNV
RI
:LVFRQVLQ0DGLVRQ
DQG
VRPH
8QLYHUVLW\
RWKHUV
GHYHORS
VHQVRUEDVHG
DSSOLDQFHV
IRU
LQGXVWULDO
GLVWULEXWHG DSSOLFDWLRQV HIIHFWLYHO\ D UHXVDEOH DUFKLWHFWXUH
VKRXOG EH HPSOR\HG >@ )UDPHZRUN ZKLFK GHILQHV D SDUW
RI V\VWHP DUFKLWHFWXUH UHSUHVHQWV D VHW RI FRQVWUDLQWV RQ
FRPSRQHQWV DQG WKHLU LQWHUDFWLRQ DQG D VHW RI EHQHILWV WKDW
GHULYH
IURP
WKRVH
FRQVWUDLQWV
>@
)RU
WKH
HPEHGGHG
FRPSXWHUEDVHG V\VWHPV GRPDLQ FRPSRQHQWV FDQ EH DQ\
NLQG
RI
KDUGZDUHVRIWZDUH
EXLOGLQJ
EORFNV
7KLV
FRQWULEXWLRQ GHDOV ZLWK LQGXVWULDO VHQVRUEDVHG DSSOLFDWLRQV
GHYHORSPHQW
VXSSRUW
WKDW
ZDV
RULJLQDOO\
ILHOGEXVEDVHG
HPEHGGHG
V\VWHPV
ILHOGEXVEDVHG
V\VWHP
DQ
WR
>@
,QWUDQHW
IRFXVHG
7R
LW
LV
MRLQ
,((( DUFKLWHFWXUH
VHH
KWWSZZZGDUSDPLOLWRUHVHDUFKVHQVLWLQGH[KWPO
7R
,(((QHWZRUNLQWHUIDFH
6RXWKHUQ
RQ
VXFK
QHFHVVDU\
D
7KH ,((( VHH )LJ FRQVLVWV RI WKH IDPLO\ RI
VWDQGDUGV IRU D QHWZRUNHG VPDUW WUDQVGXFHU LQWHUIDFH WKDW
LQFOXGH QDPHO\
L
D VPDUW WUDQVGXFHU LQIRUPDWLRQ PRGHO
>@ WDUJHWLQJ VRIWZDUHEDVHG QHWZRUN LQGHSHQGHQW
WUDQVGXFHU DSSOLFDWLRQ HQYLURQPHQWV DQG
LL
D VWDQGDUG
GLJLWDO LQWHUIDFH DQG FRPPXQLFDWLRQ SURWRFRO >@
IRU DFFHVVLQJ WKH WUDQVGXFHU YLD WKH PLFURSURFHVVRU PRGHOHG
E\ WKH 7KH QH[W WZR VWDQGDUGV DQG
H[WHQG
WKH
SRVVLEOH
VLQJOHDWWDFKHG
FRQILJXUDWLRQV
WR
HPEHGGHG GLVWULEXWHG PXOWLGURS V\VWHPV DQG WR PL[HGPRGH
FRPPXQLFDWLRQ SURWRFROV IRU DQDORJ WUDQVGXFHUV
7KH LQIRUPDWLRQ PRGHO GHDOV ZLWK DQ REMHFW
RULHQWHG
GHILQLWLRQ
RI
D
QHWZRUN
FDSDEOH
DSSOLFDWLRQ
WR
SURFHVVRU 1&$3 ZKLFK LV WKH REMHFWRULHQWHG HPERGLPHQW
GHYHORS D IXOO JDWHZD\ WKDW DGKHUHV WR WKH DGMDFHQW ILHOGEXV
RI D VPDUW QHWZRUNHG GHYLFH 7KLV PRGHO LQFOXGHV WKH
SURWRFRO SURILOH RQ RQH VLGH DQG WR WKH VHOHFWHG ,QWHUQHW
GHILQLWLRQ
RI
SURWRFRO SURILOH RQ WKH RWKHU VLGH ZKLOH WUDQVODWLQJ EHWZHHQ
UHVRXUFHV
DQG
PHVVDJLQJ SURWRFROV RI DSSOLFDWLRQ OD\HUV LQ ERWK GRPDLQV
GHILQLWLRQ HQFRPSDVVHV D VHW RI REMHFWV FODVVHV DWWULEXWHV
:KHUHDV
D
FRQFUHWH
ILHOGEXV
SURWRFRO
VXLWH
DOO
DSSOLFDWLRQOHYHO
WUDQVGXFHU
KDUGZDUH
DFFHVV
WR
7KH
REMHFW
QHWZRUN
PRGHO
XVXDOO\
PHWKRGV DQG EHKDYLRUV WKDW SURYLGH D FRQFLVH GHVFULSWLRQ RI
SUHGHWHUPLQHV WKH ILHOGEXV VLGH RI WKH JDWHZD\ DUFKLWHFWXUH
D WUDQVGXFHU DQG D QHWZRUN HQYLURQPHQW WR ZKLFK LW PD\
WKH ,QWUDQHW VLGH RIIHUV IUHH FKRLFH DPRQJ PDQ\ SRVVLEOH
FRQQHFW 7KH VWDQGDUG EULQJV D QHWZRUN DQG WUDQVGXFHU
SURILOHV HYHQ LI
KDUGZDUH
ZH IRFXV RXU DWWHQWLRQ RQ :::EDVHG
WHFKQRORJLHV VHH HJ >@ >@
(YLGHQWO\
HQYLURQPHQW
LQ
ZKLFK
D
FRQFUHWH
ZLWK
7KH VWDQGDUG XVHV EORFN DQG EDVH FODVVHV WR
,QWHUQHW,QWUDQHWV E\ PHGLDWLQJ ILHOGEXV V\VWHPV UHVXOW LQ
GHVFULEH WKH WUDQVGXFHU GHYLFH ,W GHILQHV IRXU FRPSRQHQW
PXOWLWXGH RI SURSULHWDU\ VROXWLRQV 7KRVH LQWHUFRQQHFWLRQV
FODVVHV RIIHULQJ SDWWHUQV IRU RQH 3K\VLFDO %ORFN RQH RU
FDQQRW
WKH
PRUH 7UDQVGXFHU %ORFNV )XQFWLRQ %ORFNV DQG 1HWZRUN
VWDQGDUGL]DWLRQ
%ORFNV (DFK EORFN FODVV PD\ LQFOXGH VSHFLILF EDVH FODVVHV
LQLWLDWLYHV +HQFH WKDW PHWKRGRORJ\ DSSHDUV XVHIXO RQO\ WR
IURP WKH PRGHO 7KH EDVH FODVVHV LQFOXGH 3DUDPHWHUV
PHHW VSHFLDO DSSOLFDWLRQ RU LPSOHPHQWDWLRQ UHTXLUHPHQWV
$FWLRQV (YHQWV DQG )LOHV DQG SURYLGH FRPSRQHQW FODVVHV
EH
WKH
QHXWUDO
LPSOHPHQWDWLRQ FDQ EH GHYHORSHG
LQWHUFRQQHFWLRQV
VWDQGDUGL]HG
FDQFHOODWLRQ
RI
RI
LQWHUQDWLRQDOO\
UHODWHG
,(&
VHQVRUV
EHFDXVH
)LHOGEXV
RI
2Q WKH RWKHU KDQG WKHUH LV D SRVVLELOLW\ KRZ WR PDQDJH WKDW
SUREOHP
XWLOL]LQJ
D
VHQVRUDFWXDWRUEDVHG
VWDQGDUGL]HG
DSSURDFK IRXQGHG RQ ,((( PRGHO >@ >@
8QIRUWXQDWHO\
RIIHUV
QHLWKHU
LPPHGLDWHO\
FRQQHFWLYLW\
WKH
ODVW
DSSOLFDWLRQ
ZLWKRXW
PHQWLRQHG
LGHQWLI\LQJ
XQLILHG
VHYHUDO DWWULEXWHV DQG PHWKRGV WKDW DUH FRPPRQ WR DOO
DSSURDFK
LQGHSHQGHQW
$OO FODVVHV LQ WKH PRGHO KDYH DQ DEVWUDFW RU URRW FODVV
IURP ZKLFK WKH\ DUH GHULYHG 7KLV DEVWUDFW FODVV LQFOXGHV
FODVVHV LQ WKH PRGHO DQG RIIHU D GHILQLWLRQ IDFLOLW\ WR EH
LQWHU
XVHG IRU LQVWDQWLDWLRQ DQG GHOHWLRQ RI FRQFUHWH FODVVHV ,Q
PHVVDJLQJ
DGGLWLRQ PHWKRGV IRU JHWWLQJ DQG VHWWLQJ DWWULEXWHV ZLWKLQ
SURWRFROV DQG D SURSHU FRPPXQLFDWLRQ VFKHPH ILWWLQJ ERWK
HDFK FODVV DUH DOVR SURYLGHG
UHFHQW ,QWHUQHW SURWRFRO SURILOHV DQG VSHFLILF DSSOLFDWLRQ
UHTXLUHPHQWV
7KLV
SDSHU
GHDOV
ZLWK
DQ
LQWHJUDWHG
1HWZRUN
IUDPHZRUN ZKLFK RIIHUV VXFK LQWHUFRQQHFWLYLW\ IRU D FODVV
RI
VHQVRUEDVHG
WUDQVGXFHU
VFKHPH
LQWHUIDFH
DFFRUGLQJ
,QWHUIDFH
DSSOLDQFHV
VWDQGDUG
WR
VWHPPLQJ
,(((
IURP
IURP
&RPSDT,QWHO0LFURVRIW V
$UFKLWHFWXUH
DQG
IURP
1&$3
6PDUW 7UDQVGXFHU
2EMHFW 0RGHO
VPDUW
PHVVDJLQJ
,3
9LUWXDO
PXOWLFDVW
1HWZRUN +:6: GULYHUV
GL
GL
FRPPXQLFDWLRQ 7KLV FRQFHSWLRQ PHGLDWHV DQ HIILFLHQW DQG
XQLILHG
DFFHVV
WR
UHPRWH
FRPSRQHQWV
RI
VHQVRUEDVHG
7UDQVGXFHU GULYHU +:
VHQVRUV DFWXDWRUV
6PDUW 7UDQVGXFHU
7UDQVGXFHU
,QWHUIDFH 0RGHO
67,0
,QWHUIDFH
6SHFLILFDWLRQ
HPEHGGHG V\VWHPV E\ ,QWHUQHW 2EYLRXVO\ WKH LQWHJUDWHG
IUDPHZRUN SURYLGHV D GHVLJQ SDWWHUQ UHXVDEOH IRU YDULRXV
VHQVRUEDVHG
WKH ,QWHUQHW
HPEHGGHG
V\VWHPV
LQWHUFRQQHFWHG
)LJXUH
WKURXJK
,((( DUFKLWHFWXUH
WKH SRUW FDQ EH ERXQG WR D QHWZRUNVSHFLILF EORFN DGGUHVV
,((( EORFN FODVVHV
$W WKLV SRLQW WKH ORJLFDO SRUW DGGUHVV KDV EHHQ ERXQG WR WKH
%ORFN FODVVHV IRUP WKH PDMRU EORFNV RI IXQFWLRQDOLW\
DFWXDO
GHVWLQDWLRQ
DGGUHVV
E\
WKH
XQGHUO\LQJ
FRQWURO
WKDW FDQ EH SOXJJHG LQWR DQ DEVWUDFW FDUGFDJH WR FUHDWH
QHWZRUN WHFKQRORJ\ $Q\ WUDQVGXFHU DSSOLFDWLRQ¶V XVH RI
YDULRXV W\SHV RI GHYLFHV 2QH 3K\VLFDO %ORFN LV PDQGDWRU\
WKH SRUW QDPH LV QRZ UHVROYHG WR WKH HQGSRLQW DVVRFLDWHG
DV LW GHILQHV WKH FDUGFDJH DQG DEVWUDFWV WKH KDUGZDUH DQG
ZLWK WKH ORJLFDO GHVWLQDWLRQ 7KLV VFKHPH DOORZV D ODWH
VRIWZDUH UHVRXUFHV WKDW DUH XVHG E\ WKH GHYLFH $OO RWKHU
ELQGLQJ HIIHFW RQ DSSOLFDWLRQ XVHV RI WKH SRUWV VR WKDW
EORFNV DQG FRPSRQHQW DQG EDVH FODVVHV FDQ EH UHIHUHQFHG
DGGUHVVHV DUH QRW KDUGFRGHG RU GHSHQGHQW XSRQ D VSHFLILF
IURP WKH 3K\VLFDO %ORFN
DUFKLWHFWXUH 7KH SRUW FDSDELOLW\ LV VLPLODU WR WKH 7&3,3
7KH 7UDQVGXFHU %ORFN DEVWUDFWV DOO WKH FDSDELOLWLHV RI
VRFNHWSURJUDPPLQJ LQWHUIDFH ZKHUH D VRFNHW LV FUHDWHG
HDFK WUDQVGXFHU WKDW LV SK\VLFDOO\ FRQQHFWHG WR WKH 1&$3
DQG ERXQG XVLQJ DQ DSSOLFDWLRQ VSHFLILF SRUW QXPEHU DQG
,2
,3 DGGUHVV 2QFH ERXQG WKH VRFNHW FDQ EH XVHG IRU GDWD
V\VWHP
'XULQJ
WKH
GHYLFH
FRQILJXUDWLRQ
SKDVH
WKH
GHVFULSWLRQ LV UHDG IURP WKH KDUGZDUH GHYLFH ZKDW NLQG RI
WUDQVIHU
VHQVRUV DQG DFWXDWRUV DUH FRQQHFWHG WR WKH V\VWHP 7KH
7UDQVGXFHU
%ORFN
LQFOXGHV
DQ
,2
GHYLFH
GULYHU
VW\OH
,QWHUQHWFRXSOLQJ
LQWHUIDFH IRU FRPPXQLFDWLRQ ZLWK WKH KDUGZDUH 7KH ,2
LQWHUIDFH LQFOXGHV PHWKRGV IRU UHDGLQJ DQG ZULWLQJ WR WKH
WUDQVGXFHU
IURP
WKH
DSSOLFDWLRQEDVHG
)XQFWLRQ
,QWHUQHW FRXSOLQJ DUFKLWHFWXUH
%ORFN
XVLQJ D VWDQGDUGL]HG LQWHUIDFH
7KH
,2
GHYLFH
GULYHU
6PDUW
SURYLGHV
ERWK
SOXJDQGSOD\
,QWUDQHW
WUDQVGXFHUV
W\SLFDOO\
FDQ
E\
EH
FRQQHFWHG
(WKHUQHW
/$1V
GLUHFWO\
,Q
WKLV
WR
FDVH
DQ
WKH
FDSDELOLW\ DQG KRWVZDS IHDWXUH IRU WUDQVGXFHUV 2I FRXUVH
DVVLJQHG ,3 DGGUHVV SURYLGHV WUDQVGXFHUV
DQ\
LGHQWLW\ QRW RQO\ LQ WKH V\VWHP EXW DOVR LQ WKH ,QWHUQHW
DSSOLFDWLRQ
ZULWWHQ
LQWHUFKDQJHDEO\
ZLWK
VLPLODU
WKH
GULYHU
IDVKLRQ
WR
WKH
WR
WKLV
PXOWLSOH
YHQGRU
WUDQVGXFHU
QHWZRUN
LQWHUIDFH
ZLWK
ZRUN
WUDQVGXFHUV
YHQGRUV
YHQGRUV
VKRXOG
SURYLGH
WKHLU
,Q
DQ
SURGXFW
D
,2
WKDW
ZLWK D XQLTXH
7KHUH DUH WZR EDVLF ZD\V KRZ WR FRXSOH VXFK D WUDQVGXFHU
ZLWK
D
FOLHQW
JDWHZD\
,Q
GLUHFW
FDVH
FRQQHFWLRQ
RI
WKH
DQG
GLUHFW
FRQQHFWLRQ
YLD
FRQQHFWLRQ
D
FOLHQW
VXSSRUWV WKLV LQWHUIDFH 7KH GULYHU LV LQWHJUDWHG ZLWK WKH
FRPPXQLFDWHV
WUDQVGXFHU¶V DSSOLFDWLRQ HQYLURQPHQW WR HQDEOH DFFHVV WR
FRPPRQ
WKHLU KDUGZDUH 7KLV DSSURDFK LV LGHQWLFDO WR WKH LQWHUIDFH
PRGHO EDVLF 1HWZRUN %ORFN IXQFWLRQV LQLWLDOL]H DQG FRYHU
IRXQG LQ GHYLFH GULYHUV IRU 81,;
FRPPXQLFDWLRQ EHWZHHQ D FOLHQW DQG WKH WUDQVGXFHU ,Q D
7KH )XQFWLRQ %ORFN HTXLSV D WUDQVGXFHU GHYLFH ZLWK D
ZLWK
WUDQVGXFHU
PHVVDJLQJ
SURWRFRO
GLUHFWO\
,Q
WKH
XVLQJ
VRPH
WUDQVGXFHU
REMHFW
VSHFLDO FDVH DQRWKHU VPDUW WUDQVGXFHU FDQ SURYLGH D FOLHQW
VNHOHWDO DUHD LQ ZKLFK WR SODFH DSSOLFDWLRQVSHFLILF FRGH
6XFK
7KH LQWHUIDFH GRHV QRW VSHFLI\ DQ\ UHVWULFWLRQV RQ KRZ DQ
VRIWZDUH
DSSOLFDWLRQ LV GHYHORSHG ,Q DGGLWLRQ WR D 6WDWH YDULDEOH
FRPSOHWH
WKDW DOO EORFN FODVVHV PDLQWDLQ WKH )XQFWLRQ %ORFN FRQWDLQV
DUFKLWHFWXUH
VHYHUDO OLVWV RI SDUDPHWHUV WKDW DUH W\SLFDOO\ XVHG WR DFFHVV
VRIWZDUH VWHPV IURP WZR EDVLF 1HWZRUN %ORFN IXQFWLRQV
QHWZRUNYLVLEOH GDWD RU WR PDNH LQWHUQDO GDWD DYDLODEOH
UHPRWHO\ ,W PHDQV WKDW DQ\ DSSOLFDWLRQVSHFLILF DOJRULWKPV
RU GDWD VWUXFWXUHV DUH FRQWDLQHG ZLWKLQ WKHVH EORFNV WR
DOORZ VHSDUDWHO\
IRU LQWHJUDWLRQ RI DSSOLFDWLRQVSHFLILF
IXQFWLRQDOLW\ XVLQJ D SRUWDEOH DSSURDFK
7KH 1HWZRUN %ORFN LV XVHG WR DEVWUDFW DOO DFFHVV WR WKH
QHWZRUN
E\
WKH
EORFN DQG
EDVH FODVVHV
HPSOR\LQJ
D
W\SH
RI
FRQQHFWLRQ
NQRZOHGJH
H[HFXWH
7KH
DQG
VRPH
IXQFWLRQ
IXQFWLRQ
HQXPHUDWHG
WKH
VLGH
QHWZRUNQHXWUDO REMHFWEDVHG SURJUDPPLQJ LQWHUIDFH 7KH
QHWZRUN
IXQFWLRQ
ZLWK
DQ
DSSOLFDWLRQ
LQWHUDFWLRQ
PHFKDQLVP EDVHG RQ WKH UHPRWH SURFHGXUH FDOO
53&
IUDPHZRUN IRU FOLHQWVHUYHU GLVWULEXWHG FRPSXWLQJ VHWWLQJV
7KH 53& PHFKDQLVP VXSSRUWV ERWK D FOLHQWVHUYHU DQG D
SXEOLVKHUVXEVFULEHU
SDUDGLJP
IRU
HYHQW
DQG
PHVVDJH
UHWXUQV
WKH
RQ
VLGH
UHTXHVW
LV
VRIWZDUH
DQG
WKDW
,QWHUQHW
LQ
WR
WKH
HLWKHU
WKH
UHTXHVWHG
UHTXHVWHG
YDULDEOHV
DQG
DQG
FOLHQW
WUDQVODWHV
LQ
WKH
DGGLWLRQ
7KRVH
GDWD
LW
DUH
DUJXPHQWV
WH[W
UHIHUV
PHVVDJHV
WR
D
UHFHLYHG
LQWHUDFWLRQ D FRPPXQLFDWLRQ PRGHO WKDW VWHPV IURP WKH
QHWZRUN
QRWLRQ RI D SRUW LV GHILQHG LQ WKH VSHFLILFDWLRQ 7KLV PHDQV
ZLWK
LI D EORFN ZLVKHV WR FRPPXQLFDWH ZLWK DQ\ RWKHU EORFN LQ
VSHDNLQJ
WKH GHYLFH RU DFURVV WKH QHWZRUN LW PXVW ILUVW FUHDWH D SRUW
PHVVDJLQJ
WKDW ORJLFDOO\ ELQGV WKH EORFN WR WKH SRUW QDPH 2QFH
SURWRFRO
HQRXJK LQIRUPDWLRQ DERXW DGGUHVVLQJ RI WKH SRUW LV NQRZQ
FRQWUDU\ WKH KDOI JDWHZD\ UHVLGHV RQ WKH VDPH QHWZRUN DV
,QWHUQHWFRXSOHG
WKH
IXOO
RI
SURYLGHV
GHYLFH
JDWHZD\
SURWRFROV
SURILOHV
RU
GLUHFW
KDOI
WUDQVODWHV
ZKLOH
WKH
E\
UHTXHVWHG
IURP
JDWHZD\
IRU
XVHG
WKH
H[HFXWH
IROORZLQJ
UHTXHVWV
FRPPDQG
JHQHUDWLRQ ,Q VXSSRUW RI WKHVH WZR W\SHV RI DSSOLFDWLRQ
IXOO
LQWR
XVHV
,'
HYDOXDWHV
DUJXPHQWV
YDOXHV
JDWHZD\
SURFHVV
WKH
DQG
RI
GHFRGHG
IXQFWLRQ
JLYHQ
UHVXOWLQJ
WHUP
IXOO
DQG
FRPPXQLFDWLRQ
LW
GHOLYHUHG E\ UHTXHVWHG YDULDEOHV VHWV LQ
7KH
D
IXQFWLRQV
D
SDUDPHWHUV
DUJXPHQWV
7KDW
WKH
VHUYHU
IROORZLQJ
WKLV
SHUIRUP
SURYLGHV
WUDQVGXFHU
RI
VLGH
IXQFWLRQV
7KH VWDQGDUG GHILQHV D XQLTXH ,'
IXQFWLRQ
PRGHO
FOLHQW
IXQFWLRQ DQG GDWD LWHP ,I WKH FOLHQW QHHGV WR
ZLWK
VHUYHU
RI
RQ
QHWZRUN
LPSOHPHQWDWLRQ
H[HFXWH
2Q
RI
SHUIRUP
IRU HDFK FODVV
FDOO
H[SHFWV
LPSOHPHQWDWLRQ
FRQWURO
FRPPXQLFDWLRQ
JDWHZD\
EHWZHHQ
UHVSHFWLQJ
LQWHUFRQQHFWHG
VSHFLILF
*HQHUDOO\
DSSURSULDWH
WKH
QHWZRUNV
FRPSOHWH
2Q
WKH
LQWHUFRQQHFWHG QRGHV ZLWK FRPPRQ ORZHU OD\HUV DQG HLWKHU
WUDQVODWHV RQO\ EHWZHHQ GLIIHUHQW DSSOLFDWLRQ SURWRFROV RU
LQLWLDOL]HV
WKH
VXEVHTXHQW
GLUHFW
FRPPXQLFDWLRQ
KRVW JURXS ZKLFK LV D VHW RI ]HUR RU PRUH KRVWV LGHQWLILHG E\
DQQRXQFLQJ SURSHU QRGHV¶ DGGUHVVHV
DUH PDLQWDLQHG E\ DQ ,QWHUQHW *URXS 0DQDJHPHQW 3URWRFRO
)XOO JDWHZD\ LV XVXDOO\ LPSOHPHQWHG E\ D FRPSXWHU
,3 PXOWLFDVWLQJ LV WKH WUDQVPLVVLRQ RI DQ ,3 GDWDJUDP WR D
D VLQJOH ,3 GHVWLQDWLRQ DGGUHVV RI FODVV ' 0XOWLFDVW JURXSV
,*03
>@
>@
0XOWLFDVW
URXWLQJ
FRQVLGHUV
PXOWLFDVWLQJ
SK\VLFDOO\ MRLQLQJ RQH RU PRUH WUDQVGXFHUV DQG FOLHQWV )RU
URXWHUV HTXLSSHG ZLWK PXOWLFDVWLQJ URXWLQJ SURWRFROV VXFK DV
(WKHUQHWFRXSOHG GHYLFHV WKDW JDWHZD\ FDQ DOVR SURYLGH
'9053 ,(7) 5)& 0263) ,(7) 5)& RU
HLWKHU D GDWD SURWHFWLRQ EDUULHU LI WKH DSSOLFDWLRQ UHTXLUHV D
3,0
VHFXULW\ DQGRU HIILFLHQF\ VXSSRUW RU DQ DSSOLFDWLRQOD\HU
$GGUHVV 5HVROXWLRQ 3URWRFRO SURYLGHV WKH ODVWKRS URXWLQJ
SURWRFRO FRQYHUWHU LI PHVVDJLQJ SURWRFROV RI WKH FOLHQW DQG
E\
WKH
DGGUHVVHV
WUDQVGXFHU
GLIIHU
7KDW
IXOO
JDWHZD\
HYDOXDWHV
DQG
,(7) 5)& )RU (WKHUQHWEDVHG ,QWUDQHWV WKH
PDSSLQJ
FODVV
'
DGGUHVVHV
RQ
PXOWLFDVW
(WKHUQHW
IXOO
,3 PXOWLFDVWLQJ LPSURYHV VXEVWDQWLDOO\ FRPPXQLFDWLRQ
JDWHZD\ DOVR SURYLGHV D VXEVWLWXWH RI WKH WUDQVGXFHU IRU
HIILFLHQF\ RI ,QWHUQHW DSSOLFDWLRQV EDVHG RQ PXOWLSRLQW GDWD
ILOWHUV
PHVVDJHV
RU
WUDQVODWHV
WKHP
,Q
WKLV
FDVH
,QWHUQHW FOLHQWV ZKHQ WKH WUDQVGXFHUV DUH FRQQHFWHG WR D
GLVWULEXWLRQ
VHSDUDWH
DYRLGDEOH
ORFDO
QHWZRUN
RU
SURWHFWHG
VXEQHWZRUN
ZKLOH
E\
HOLPLQDWLRQ
FROOLVLRQV
HQDEOLQJ WKHP WR FRPPXQLFDWH WR WKH RXWVLGH QHWZRUN )RU
PXOWLFDVW
RXWVLGH
PXOWLSRLQW DSSOLFDWLRQV
FRPSXWHUV
WKLV
JDWHZD\
UHSUHVHQWV
D
YLUWXDO
HQDEOHV
,Q
RI
IDFW
WR
UHGXQGDQW
RQO\
EDQGZLGWK
VXIILFLHQWO\
LPSOHPHQW
DQG
HIIHFWLYH
DGYDQFHG
VFDODEOH
WUDQVGXFHU DV D PDWWHU RI IDFW LW UHVHQGV DQ LQFRPLQJ
FRPPDQG WR D FRQFUHWH WDUJHW LQ WKH ORFDO QHWZRUN DQG
VLPLODUO\
LW
UHVHQGV
WKH
UHSO\
IURP
WKH
0HVVDJLQJ
UHVSRQGLQJ
WUDQVGXFHU WR WKH UHOHYDQW FOLHQW 7KLV VROXWLRQ DOORZV WR
7R EH HIIHFWLYH PXOWLFDVWLQJ VKRXOG EH VXSSRUWHG E\ D
KLGH WKH LQVLGH DUFKLWHFWXUH RI WKH SURWHFWHG ORFDO QHWZRUN
OLJKWZHLJKW PHVVDJLQJ V\VWHP 3XEOLVKHG PHVVDJLQJ OD\HUV
DQG
LQFOXGH
FRQFXUUHQWO\
LW
DOORZV
WR
DFFHVV
WUDQVGXFHUV
WUDQVSDUHQWO\ ,Q WKLV YDULDQW WKH JDWHZD\ GRHV QRW PRGLI\
PHVVDJHV
EXW
RQO\
WUDQVODWHV
WKHP
EHWZHHQ
GLIIHUHQW
PHVVDJLQJ V\VWHPV
,QWHUQHW
KDOI
LQWHUFRQQHFWLQJ
7KH
ILWWLQJ
JDWHZD\
SURYLGHV
DUFKLWHFWXUH
IRU
DQ
HJ
$FWLYH
0HVVDJHV
81HW
)DVW
0HVVDJHV
6+5,03 DQG 9,$ >@
9LUWXDO
,QWHUIDFH
DSSURDFK
$UFKLWHFWXUH
SURPLVLQJ
DOVR
>@
IURP
RIIHUV
WKH
VXFK
YLHZSRLQW
D
RI
HIILFLHQW
IXWXUH VWDQGDUGL]DWLRQ 7KH 9,$ ZDV GHYHORSHG WR E\SDVV
(WKHUQHWFRPSDWLEOH
RSHUDWLQJ V\VWHP¶V EXIIHU FRS\LQJ ZKLFK FRQWULEXWHV WR D
GHYLFHV 7KH KDOI JDWHZD\ LV XVXDOO\ LPSOHPHQWHG E\ D
PDMRU
ZHE VHUYHU 6LPLODUO\ WR IXOO JDWHZD\ LW FDQ DOVR SURYLGH
VXSSRUWV WZR GDWD WUDQVIHU PRGHOV D WUDGLWLRQDO PHVVDJH
HLWKHU D GDWD SURWHFWLRQ EDUULHU LI WKH DSSOLFDWLRQ UHTXLUHV D
SDVVLQJ
VHFXULW\ DQGRU HIILFLHQF\ VXSSRUW RU DQ DSSOLFDWLRQOD\HU
PHPRU\
SURWRFRO FRQYHUWHU LI PHVVDJLQJ SURWRFROV RI WKH FOLHQW DQG
$FFHVV 7KH VHUYLFHV VSHFLILHG LQFOXGH HQGSRLQW FUHDWLRQ DQG
WKH WUDQVGXFHU GLIIHU 1HYHUWKHOHVV WKH VSHFLILF UROH RI WKH
GHVWUXFWLRQ
KDOI JDWHZD\ FRQVLVWV LQ LQLWLDOL]DWLRQ RI WKH VXEVHTXHQW
DQG UHJLVWUDWLRQ GDWD WUDQVIHU DQG FRPSOHWLRQ RSHUDWLRQV
GLUHFW FRPPXQLFDWLRQ EHWZHHQ D JURXS RI FOLHQWV DQG D
TXHHULQJ LQIRUPDWLRQ DQG HUURU KDQGOLQJ
JURXS RI WUDQVGXFHUV DQQRXQFLQJ UHOHYDQW DGGUHVVHV 7R
SDUW
7KH
RI
WKH
FRPPXQLFDWLRQ
6HQG5HFHLYH
PRGHO
PRGHO
FDOOHG
FRQQHFWLRQ
9,$
KHUH
DQG
DV
RYHUKHDG
D
FRPPRQ
5HPRWH
PDQDJHPHQW
VSHFLILFDWLRQ
GHILQHV
7KH
GLVWULEXWHG
'LUHFW
PHPRU\
ERWK
9,$
0HPRU\
SURWHFWLRQ
KDUGZDUH
DQG
LPSURYH RYHUDOO VROXWLRQ WKDW DUFKLWHFWXUH FDQ EH SURSSHG
VRIWZDUH
E\
LPSOHPHQWDWLRQ ,W FDQ VXFFHVVIXOO\ VXSSRUW WKH ,3 PXOWLFDVW
L
PXOWLFDVWLQJ
SURWRFROV
WKDW
HQDEOH
WR
UHGXFH
DUFKLWHFWXUH
DQG
RIIHUV
DOVR
D
PRGHO
VXEVWDQWLDOO\ WKH UHVXOWLQJ FRPPXQLFDWLRQ WUDIILF VHH WKH
GLVFXVVHG
QH[W VXEVHFWLRQ DQG E\ LL D SURSHU PHVVDJLQJ V\VWHP WKDW
PXOWLFDVW FDQ EH GLUHFWO\ HPEHGGHG LQWR WKH WDUJHW
FDQ
LPSOHPHQWDWLRQ
DOVR
FRQWULEXWH
WR
FRPPXQLFDWLRQ
HIILFLHQF\
VHH
DERYH
0RUHRYHU
9,$
PHVVDJLQJ
ZLWK
,3
VXEVHFWLRQ
&DVHVWXG\
0XOWLFDVWLQJ
7UDGLWLRQDO
QHWZRUN
FRPSXWLQJ
FRPPXQLFDWLRQ EHWZHHQ WZR
SDUDGLJP
QHWZRUN QRGHV
LQYROYHV
+RZHYHU
HPHUJLQJ ,QWHUQHW DSSOLFDWLRQV UHTXLUH VLPXOWDQHRXV JURXS
FRPPXQLFDWLRQ EDVHG RQ PXOWLSRLQW FRQILJXUDWLRQ SURSSHG
E\
PXOWLFDVW
,3
ZKLFK
VDYHV
EDQGZLGWK
E\
IRUFLQJ
WKH
QHWZRUN WR UHSOLFDWH SDFNHWV RQO\ ZKHQ QHFHVVDU\ 0XOWLFDVW
LPSURYHV WKH HIILFLHQF\ RI PXOWLSRLQW GDWD GLVWULEXWLRQ E\
EXLOGLQJ
UHFHLYHUV
GLVWULEXWLRQ
WUHHV
IURP
HDFK
VHQGHU
WR
D
VHW
RI
$SSOLFDWLRQ
7KH
FDVH
DSSOLFDWLRQ
RI
VWXG\
WKH
ZKLFK
SURSRVHG
VWULYHV
WR
LQWHJUDWHG
GHPRQVWUDWH
IUDPHZRUN
DQ
GHDOV
ZLWK WKH UHDO SURMHFW RI D SUHVVXUH DQDO\]HU FRQVLVWLQJ RI D
JURXS RI VPDUW SUHVVXUH VHQVRUV LQWHUFRQQHFWHG E\ (WKHUQHW
EDVHG ,QWUDQHWV DQG E\ WKH ,QWHUQHW 7KH FRPSOHWH UHVHDUFK
WDVN
KDV
EHHQ
DLPHG
DW
DSSOLFDWLRQGULYHQ
SUHVVXUH
PHDVXUHPHQW SURFHVVHV DQG WRROV VWDUWLQJ ZLWK WKH VWXG\ RI
YDULRXV SK\VLFDO SULQFLSOHV DQG GHVLJQV RI VHQVRUV XS WR WKH
ILQDO
LQIRUPDWLRQ
SURFHVVLQJ
LPSOHPHQWDWLRQ
LQFOXGLQJ
SURYLGH ERWK KLJK SUHFLVLRQ DQG ZLGH UDQJH SUHVVXUH
PHDVXUHPHQWV /DUJH GLVSODFHPHQWV DUH PHDVXUHG E\ WKH
LQWHUQDO DQG H[WHUQDO GDWD FRPPXQLFDWLRQV
2QH RI WKH LQLWLDO SUREOHPV WR EH VROYHG FRQVLVWHG LQ WKH
SRVLWLRQ RI UHIOHFWHG IRFXVHG ODVHU EHDP 6PDOO SRVLWLRQ
VHOHFWLRQ RI D XQLILHG H[WHUQDO FRPPXQLFDWLRQ LQWHUIDFH 7KH
FKDQJHV DUH PHDVXUHG E\ RQHVLGH OD\HU GLIIUDFWLYH OHQV
ILUVW LGHD DSSHDUHG WR XWLOL]H WKH LQWHUQDWLRQDO VWDQGDUG ,(&
SULQFLSOH 6HQVRU RXWSXW VLJQDO LV FRQGLWLRQHG LQ GLJLWDO E\
)LHOGEXV
$'X& RQHFKLS PLFURFRPSXWHU ZKLFK SURYLGHV WKH
DQG
WR
GHYHORS
DQ
,(&
)LHOGEXVWR,QWUDQHW
JDWHZD\ ZLWK D FRPPXQLFDWLRQ DUFKLWHFWXUH ILWWLQJ WKLV
,((( LQWHUIDFH DV RQH RI LWV FRPPXQLFDWLRQ SRUWV
DSSOLFDWLRQ GRPDLQ :KHQ WKH ,(& )LHOGEXV VWDQGDUGL]DWLRQ
7KLV RQHFKLS PLFURFRPSXWHU FDOFXODWHV WKH SRVLWLRQ RI WKH
LQLWLDWLYH
OLJKW VSRW DQG FRQYHUWV WKDW SRVLWLRQ RQ WKH PHDVXUHG
ZDV
FDQFHOOHG
RXU
UHVHDUFK
JURXS
IRFXVHG
SUHVVXUH XVLQJ DQ LQWHUQDO WDEOH
DWWHQWLRQ RQ WKH DSSURDFK GULYHQ E\ ,((( VWDQGDUGV
)LJXUH
,((( SUHVVXUH VHQVRU LPSOHPHQWDWLRQ
7KH $'X& PLFURSURFHVVRU D EDVLF EXLOGLQJ EORFN
6PDUW SUHVVXUH VHQVRU
RI
WKH
VPDUW
SUHVVXUH
VHQVRU
LQFOXGHV
RQFKLS
KLJK
RQ
SHUIRUPDQFH PXOWLSOH[HUV $'&V '$&V )/$6+ SURJUDP
SUHVVXUH VHQVRUV LQ WKLV FDVH VPDUW GHYLFHV HTXLSSHG ZLWK
DQG GDWD VWRUDJH PHPRU\ DQ LQGXVWULDO VWDQGDUG
PLFURSURFHVVRUV (DFK VPDUW VHQVRU FRQWDLQV RQH RI WZR
PLFURFRQWUROOHU FRUH DQG VXSSRUWV VHYHUDO VWDQGDUG VHULDO
1&$3 LPSOHPHQWDWLRQV EDVHG HLWKHU RQ ELW $50 RU RQ
SRUWV 7KH PLFURFRQWUROOHU PD\ DOVR XWLOL]H QRQYRODWLOH
ELW 5DEELW PLFURSURFHVVRUV WKDW ERWK SURYLGH UHDOL]DWLRQ RI
PHPRU\ FRQWDLQLQJ D 7('6 ILHOG
WKH REMHFW PRGHO IRU ,QWUDQHW LQWHUFRQQHFWLYLW\ DQG
'DWD 6KHHW
WKH DFFHVV WR WKH LQWHUIDFH IRU FRQQHFWLQJ WR SUHVVXUH
,QWHUIDFH WKDW SURS ,(((
$Q\
SUHVVXUH
PHDVXUHPHQW
DSSOLFDWLRQ
LV
EDVHG
VHQVRUV ZLWK UHIOHFWHG ODVHU EHDP DQG GLIIUDFWLYH OHQV 7R
LQFUHDVH
SUHVVXUHGLVSODFHPHQW
VHQVLWLYLW\
WKH
/3&9'
DQG WHQZLUH 7,,
7UDQVGXFHU (OHFWURQLF
7UDQVGXFHU ,QGHSHQGHQW
)LJ GHSLFWV SULQFLSOHV RI WKH LPSOHPHQWDWLRQ 7KH
SUHVVXUH VHQVRU LV UHIHUUHG WR DV D 67,0 6PDUW 7UDQVGXFHU
6L1 GLDSKUDJP LV FUHDWHG RQ D 6L
ZDIHU 7KH UHDGRXW VHQVLQJ V\VWHP VWHPV IURP WKH RSWLFDO
,QWHUIDFH 0RGXOH 7KH 67,0 FRQWDLQV
SULQFLSOH ZKHUH WKH DSSOLHG SUHVVXUH GHIOHFWV WKH QLWULGH
DQG
PHPEUDQH ZKLOH UHIOHFWHG ODVHU EHDP FKDQJHV WKH SRVLWLRQ
VSHFLILFDWLRQV WHPSHUDWXUH VHQVRU QHFHVVDU\ IRU VLJQDO
RI WKH IRFXVHG ODVHU EHDP PDUN PHDVXUHG E\ SRVLWLRQ
FRQGLWLRQLQJ DQDORJXHWRGLJLWDO FRQYHUVLRQ XQLWV
VHQVLQJ GHYLFH
DQG ORJLF FLUFXLWU\ WR IDFLOLWDWH FRPPXQLFDWLRQ EHWZHHQ WKH
VLOLFRQ QLWULGH
W\SH
/63
36' SURGXFW RI WKH 6L7HN (OHFWUR 2SWLFV
±
RQHGLPHQVLRQDO
VHQVRU
7KH
ODWHUDO
36' VHQVRU
ZLWK WZR DQDORJ ODVHUEHDPFXUUHQW WUDQVGXFHUV
67,0
DQG
$'X&
ZLWK
1&$3
7KURXJK
7('6
1HWZRUN
D
ZLUH
VWRULQJ
&DSDEOH
GLJLWDO
;'&5
VHQVRU
$'&
$SSOLFDWLRQ
SKRWRGLRGH RI WKH 36' LQ WKDW LQFLGHQW OLJKW JHQHUDWHV
3URFHVVRU
FRPPXQLFDWLRQ
SKRWRHOHFWULF FXUUHQW 7KLV FXUUHQW IORZV LQ WKH DFWLYH DUHD
LQWHUIDFH 7,, WKH 1&$3 RU QHWZRUNHG KRVW FDQ LQLWLDWH
DQG DSSHDUV DW WKH WZR HOHFWURGHV 7KH FXUUHQW WR HDFK
VHQVRU UHDGLQJV DV ZHOO DV UHTXHVW 7('6 GDWD
HOHFWURGH LV LQYHUVHO\ SURSRUWLRQDO WR WKH GLVWDQFH EHWZHHQ
WKH LQFLGHQW OLJKW SRVLWLRQ DQG WKH HOHFWURGH 7KH UHVXOWLQJ
,QWUDQHW FRQQHFWLYLW\
VSRW SRVLWLRQ LV GHWHUPLQHG E\ GLYLGLQJ WKH GLIIHUHQFH RI WKH
RXWSXW FXUUHQW VLJQDOV ZLWK WKH VXP RI WKH RXWSXW FXUUHQW
7KH ,QWUDQHW VLGH VWHPV IURP D -DYDEDVHG DUFKLWHFWXUH
VLJQDOV 7KH VROXWLRQ LPSURYHV WKH PHDVXUHPHQW VHQVLWLYLW\
ZLWK :HE VHUYHU LQ WKH UROH RI D KDOI JDWHZD\ 7KH UHODWHG
DQG FRPSHQVDWHV DXWRPDWLFDOO\ WHPSHUDWXUH YDULDWLRQV 7KH
-DYD
WHPSHUDWXUH LQIOXHQFH WR LQWHQVLW\ FKDQJH RI WKH ODVHU OLJKW
FRPPXQLFDWLRQ PRGHO 7KH KDOI JDWHZD\ SURYLGHV VHUYHU
GRHV QRW DIIHFW WKH OLJKW VSRW SRVLWLRQ
VLGH FDSDELOLWLHV DOORZLQJ -DYD FOLHQWV WR FRQQHFW VXEVFULEH
7KH
VHQVLQJ
V\VWHP
FRPELQHV
WZR
SULQFLSOHV
WKDW
DSSOHW
UHSUHVHQWV
FOLHQW
VLGH
RI
WKH
FOLHQWVHUYHU
DQG FRPPXQLFDWH WR WKH VPDUW VHQVRUV -DYD FDQ GLUHFWO\
VXSSRUW
FOLHQWVHUYHU
DSSOLFDWLRQ
DUFKLWHFWXUHV
DV
WKH
FRUH
-DYD VSHFLILFDWLRQ LQFOXGHV D 7&3,3 QHWZRUNLQJ $3,
7KH
GHYHORSHG
-DYD
DSSOHW
XVHV
WKH
FRUH
&RQFOXVLRQV
MDYDQHW
7KLV
SDFNDJH
WR
LPSOHPHQW
FOLHQWVHUYHU
DSSOLFDWLRQ
ZRUOG
DOORZLQJ
WKH -DYD DSSOHW
FOLHQW WR DFFHVV
VPDUW
SDSHU
SUHVHQWV
DUFKLWHFWXUDO
DSSOLFDWLRQ
WKDW
ZDV
RULJLQDOO\
QRGHV
7KH
-DYD
DSSOHW
FRQVLVWV
RI
D
PHQWLRQHG
UHDO
ZLWKRXW
VHQVRUV DQG
LPSOHPHQWDWLRQ GHWDLOV LQ >@ $V D
VXSSRUWLQJ
FRQFHSWV
GLVWULEXWLRQ
RI
D
VHULHV
PDLQ FRQWULEXWLRQ WKH
RI
SDSHU
RIIHUV
D
UHXVDEOH
GHVLJQ
SDWWHUQ
IRU
VHQVRUEDVHG
REMHFW FODVVHV LQFOXGLQJ PXOWLWKUHDGHG DSSOHW HQYLURQPHQW
GLVWULEXWHG
DQLPDWLRQ
DQG
7&3,3EDVHG
QHWZRUN
HPEHGGHG
V\VWHPV
,W
GHDOV
ZLWK
WKH
FRPELQHG
FOLHQW
VHQVRU
QHWZRUNLQJ
IUDPHZRUN
EDVHG
RQ
WKH
,(((
FRPPXQLFDWLRQV
VPDUW
,Q
WKLV
SURMHFW
DOO
WUDQVGXFHUV
DQG
FOLHQWV
DUH
WUDQVGXFHU
WR
WKH
,QWHUQHW
7KH
WUDQVGXFHU
LV
UHSUHVHQWHG
5DEELW
RU
$50
PRGXOH
ZKLFK
LPSOHPHQWV
DQG VSHFLILFDWLRQV 7KH FOLHQW VRIWZDUH LPSOHPHQWHG
LQ
-DYD
HQDEOHV
DSSOHWV
WR
EH
LQFOXGHG
LQ
D
:HE
VHUYHU V
+70/ SDJH DQG UXQ XQGHU D UHJXODU :HE EURZVHU RQ FOLHQW
VLGH
7KH
VWDQGDUG
FOLHQW
7&3
FRPPXQLFDWHV
VRFNHW
WR
WKH
FRQQHFWLRQ
WUDQVGXFHU
E\
HPSOR\LQJ
$
W\SLFDO
DSSOLDQFH
FRQQHFWHG
GHSLFWHG
ZLWK
WZR
RQ
)LJ
VHQVRUV
IRU
LQFOXGHV
SUHVVXUH
SDJH
VHQVRUV WKH FOLHQW RSHQV
ZLWK
XSORDGLQJ
WKH
WR
UHOHYDQW
WKH
FOLHQW
-DYD
VLWH
DSSOHW
ZKDW ODXQFKHV FRPPXQLFDWLRQ
7KH
FRPPXQLFDWLRQ
VFKHPH
ZLWK D
7KLV
RQ
DSSOHW
FOLHQW¶V
LV
DIWHU
FRPSXWHU
JURXS RI WUDQVGXFHUV
DSSOLHV
PXOWLFDVW
ERWK
DQG
E\
,3
PXOWLFDVW
FRPPXQLFDWLRQ
9,$
ZKLFK
HIILFLHQWO\
SDSHU
IRU
GLVWULEXWLQJ PHDVXUHG YDOXHV IURP D WUDQVGXFHU WR D JURXS RI
WKH
VPDUW
VHQVRUV
XWLOL]DWLRQ
RI
IURP
WKH
,QWHUQHW
GHYHORSHG
IUDPHZRUN DV D GHVLJQ SDWWHUQ IRU FRPSXWHUEDVHG SUHVVXUH
PHDVXUHPHQW
V\VWHPV
VWUHVVLQJ
WKHLU
FRPPXQLFDWLRQ
VWUXFWXUH LQFOXGLQJ ,QWHUQHW FRQQHFWLYLW\ LVVXHV
$FNQRZOHGJPHQWV
7KH DXWKRUV DSSUHFLDWH FRQWULEXWLRQV RI WKHLU FROOHDJXHV
IURP WKH 'HSDUWPHQW RI &RPSXWHU 6FLHQFH DQG (QJLQHHULQJ
WKH
IRU VSUHDGLQJ FRPPDQGV RI D FOLHQW WR D JURXS RI WUDQVGXFHUV
'HSDUWPHQW
$XWRPDWLRQ
DQG
RI
0LFURHOHFWURQLFV
0HDVXUHPHQWV
DQG
WKH
'HSDUWPHQW
RI
WKH
'HSDUWPHQW
RI
7HOHFRPPXQLFDWLRQV DW WKH %UQR 8QLYHUVLW\ RI 7HFKQRORJ\
QDPHO\ 3HWU %HQHV 9ODGLVODY 0XVLO .DPLO 9UED 9ODGLPLU
.RODULN 'DQLHO %HFYDU DQG 0LFKDO 6WUDFK WR WKH SUHVHQWHG
ZRUN
7KLV
FOLHQWV UHJLVWHUHG E\ WKH :HE VHUYHU IRU WKLV WUDQVGXFHU DQG
UHVHDUFK
KDV
EHHQ
SDUWO\
IXQGHG
E\
WKH
&]HFK
0LQLVWU\ RI (GXFDWLRQ LQ IUDPH RI WKH 5HVHDUFK LQWHQWLRQ 1R
&(= -
FRQWURO V\VWHPV
UHJLVWHUHG IRU WKLV FOLHQW VHH )LJ
DFFHVVLQJ
GHPRQVWUDWHV
D
WKH UHODWHG VHUYHU¶V :HE
VWDUWHG
7KH
DQG
WHPSHUDWXUH PHDVXUHPHQWV 7R UHJLVWHU LWVHOI IRU D VSHFLILHG
JURXS RI
E\
D
9,$
VHQGUHFHLYH ZLWK PXOWLFDVW
WUDQVGXFHU
FRPSOHPHQWHG
E\
PHGLDWHV
HLWKHU
VWDQGDUG
FRQQHFWHG
DUFKLWHFWXUH
GLUHFWO\
LQWHUIDFH
DQG E\
5HVHDUFK LQ LQIRUPDWLRQ DQG
WKH
JUDQW
*$&5
(PEHGGHG &RQWURO 6\VWHPV DQG WKHLU ,QWHU&RPPXQLFDWLRQ
E\ *UDQG $JHQF\ RI WKH &]HFK 5HSXEOLF
ZZZVPDUW WUDQVGXFHUF]
-$9$$33/(7
3>N3D@
:::6(59(5
W>V@
+WWS
+WWS EDFNERQH
0ESV7&3,3(WKHUQHW
,175$1(7
&38
)LJXUH
,PSOHPHQWDWLRQ H[DPSOH
6PDUW
3UHVVXUH
6HQVRU
:::
0ESV
(WKHUQHW
6HUYHU
6PDUW
3UHVVXUH
6HQVRU
:::
&OLHQW $
6PDUW
3UHVVXUH
7&3,3
6HQVRU
:::
6PDUW
&OLHQW $
3UHVVXUH
6HQVRU
$QDORJ ,QSXWV
'LJLWDO ,QSXWV
,QWHUQHW,QWUDQHW
&OLHQW %
:::
'LJLWDO 2XWSXWV
3RZHU &RPSRQHQWV
6PDUW
3UHVVXUH
&OLHQW $
6HQVRU L
)LJXUH
3UHVVXUH DQDO\]HU QHWZRUN FRQILJXUDWLRQ
5HIHUHQFHV
>@
>@
- $JUH DQG / &ODUH $Q ,QWHJUDWHG $UFKLWHFWXUH IRU
&RRSHUDWLYH 6HQVLQJ 1HWZRUNV
9RO
1R SS
,((( &RPSXWHU
' %KOHU : .FKOLQ * *UXKOHU DQG * 1XVVHU 7KH
9LUWXDO $XWRPDWLRQ /DE :HE %DVHG 7HDFKLQJ $XWRPDWLRQ
&RQFHSWV 3URFHHGLQJV RI WKH 6HYHQWK ,((( &RQIHUHQFH DQG
:RUNVKRS
RQ
(QJLQHHULQJ RI &RPSXWHU%DVHG
(GLQEXUJK
6FRWODQG
,(((
&RPS
6\VWHPV
6RF
,(((
>@
($ /HH :KDW¶V $KHDG IRU (PEHGGHG 6RIWZDUH
9RO 1R SS
>@
(0 3HWULX 1' *HRUJDQDV '& 3HWULX ' 0DNUDNLV DQG
9= *UR]D 6HQVRU%DVHG ,QIRUPDWLRQ $SSOLDQFHV ,(((
&RPSXWHU
,QVWUXPHQWDWLRQ
0HDVXUHPHQW 0DJD]LQH
9RO
1R
SS
>@
,PSOHPHQWLQJ D 6WDQGDUGVEDVHG
'LVWULEXWHG 0HDVXUHPHQW DQG &RQWURO $SSOLFDWLRQ RQ WKH
,QWHUQHW
6FKQHHPDQ
SS
5'
1WLRQDO
,QVWLWXWH
RI
6WDQGDUGV
DQG
7HFKQRORJ\
*DLWKHUVEXUJ 0DU\ODQG 86$
>@
&RPSDT
9LUWXDO
&RPSXWHU
,QWHUIDFH
&RUS
,QWHO
$UFKLWHFWXUH
&RUS
0LFURVRIW
VSHFLILFDWLRQ
&RUS
9HUVLRQ
>@
6FKQHHPDQ
5'
DQG
.%
/HH
0XOWL1HWZRUN
$FFHVV
WR
,((( 3 6PDUW 6HQVRU ,QIRUPDWLRQ 8VLQJ :RUOG :LGH
'HFHPEHU
:HE 7HFKQRORJ\ 1,67 ,QWHUDJHQF\ 5HSRUW 1DWLRQDO
>@
,QVWLWXWH
'HHULQJ 6( +RVW ([WHQVLRQV IRU ,3 0XOWLFDVWLQJ ,(7) 5)&
>@
)HQQHU : ,QWHUQHW *URXS 0DQDJHPHQW 3URWRFRO 9HUVLRQ
>@
,(7) 5)& 1RYHPEHU
>@
DQG
3URFHVVRU
$FWXDWRUV
1&$3
1HWZRUN
&DSDEOH
,QIRUPDWLRQ 0RGHO
,(((
<RUN
IRU
6HQVRUV
DQG
$FWXDWRUV
7UDQVGXFHU
WR
0LFURSURFHVVRU &RPPXQLFDWLRQ 3URWRFROV DQG 7UDQVGXFHU
(OHFWURQLF 'DWD 6KHHW
$XJXVW
7HFKQRORJ\
*DLWKHUVEXUJ
,((( 7UDQVDFWLRQV RQ 3DUDOOHO DQG
9RO 1R SS
>@
0 6YHGD DQG 5 9UED
RI
WKH
(LJKWK
,(((
6HQVRU 1HWZRUNLQJ 3URFHHGLQJV
&RQIHUHQFH
DQG
:RUNVKRS
RQ
(QJLQHHULQJ RI &RPSXWHU%DVHG 6\VWHPV :DVKLQJWRQ
,((( 3 ' 'UDIW 6WDQGDUG IRU D 6PDUW 7UDQVGXFHU
,QWHUIDFH
DQG
5 6LYDUDP 5 .HVDYDQ '. 3DQGD DQG &% 6WXQNHO
$UFKLWHFWXUDO 6XSSRUW IRU (IILFLHQW 0XOWLFDVWLQJ LQ
,UUHJXODU 1HWZRUNV
$SSOLFDWLRQ
1HZ
$SULO
>@
6WDQGDUGV
'LVWULEXWHG 6\VWHPV
,((( 6WDQGDUG IRU D 6PDUW 7UDQVGXFHU ,QWHUIDFH IRU
6HQVRUV
RI
0DU\ODQG 86$
$XJXVW
7('6
)RUPDWV
,((( 1HZ <RUN
'& ,((( &RPSXWHU 6RFLHW\ 3UHVV SS
>@ 0 6YHGD DQG 5 9UED ([HFXWDEOH 6SHFLILFDWLRQV IRU
'LVWULEXWHG (PEHGGHG 6\VWHPV
9RO
,((( &RPSXWHU
1R SS