Users Reference Manual
79 Pages
Preview
Page 1
'DWH[2KPHGD6&HQWUDO 8VHU·V5HIHUHQFH0DQXDO
0537
&RQIRUPLWDFFRUGLQJWRWKH&RXQFLO'LUHFWLYH ((&FRQFHUQLQJ0HGLFDO'HYLFHV &$87,21 86)HGHUDOODZUHVWULFWVWKLVGHYLFHWRVDOHERURQWKHRUGHU RIDOLFHQVHGPHGLFDOSUDFWLWLRQHU 2XWVLGHWKH86$FKHFNORFDOODZVIRUDQUHVWULFWLRQWKDWPDDSSO $OOVSHFLILFDWLRQVDUHVXEMHFWWRFKDQJHZLWKRXWQRWLFH 'RFXPHQW1R 0D 'DWH[2KPHGD,QF 32%2; 0$',621:, 7HO)D[ ZZZXVGDWH[RKPHGDFRP
'DWH[2KPHGD'LYLVLRQ ,QVWUXPHQWDULXP&RUS 32%R[ ),1 '$7(;2+0('$),1/$1' 7HO )D[ ZZZGDWH[RKPHGDFRP ,QVWUXPHQWDULXP&RUS$OOULJKWVUHVHUYHG
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
&(PDUNLQJ −
7KH'DWH[2KPHGD6&HQWUDOVRIWZDUH6&1(7DQGWKH9LHZ6WDWLRQ VRIWZDUH691(7DUH&(PDUNHGLQDFFRUGDQFHZLWKWKH(80HGLFDO'HYLFH 'LUHFWLYH
−
7KH'DWH[2KPHGD6&HQWUDO3DWLHQW6FUHHQGLVSODXQLWVFRPSXWHUDQG NHERDUGDUH&(PDUNHGLQDFFRUGDQFHZLWKWKH(8',UHFWLYHVIRU (OHFWURPDJQHWLF&RPSDWLELOLWDQGIRU/RZ9ROWDJHHTXLSPHQW
5HVSRQVLELOLWRIWKHPDQXIDFWXUHU 'DWH[2KPHGD'LYLVLRQ,QVWUXPHQWDULXP&RUSLVUHVSRQVLEOHIRUWKHVDIHWUHOLDELOLW DQGSHUIRUPDQFHRIWKH'DWH[2KPHGDPDQXIDFWXUHGSURGXFWVRQOLI −
DVVHPEORSHUDWLRQVH[WHQVLRQVUHDGMXVWPHQWVPRGLILFDWLRQVVHUYLFHDQG UHSDLUVDUHFDUULHGRXWESHUVRQQHODXWKRUL]HGE'DWH[2KPHGD
−
WKHHOHFWULFDOLQVWDOODWLRQRIWKHUHOHYDQWURRPFRPSOLHVZLWKDSSURSULDWH UHTXLUHPHQWV
−
WKHHTXLSPHQWLVXVHGLQDFFRUGDQFHZLWKWKLVPDQXDO
7UDGHPDUNV 'DWH[2KPHGDDQGRWKHUWUDGHPDUNV6$6&6'OLWH3HGLOLWH'IHQG 'IHQG0HP&DUG(DU6DW)LQJHU6DW)OH[6DW3DWLHQW2 3DWLHQW6SLURPHWUDQG 7RQRPHWULFVDUHSURSHUWRI,QVWUXPHQWDULXP&RUSRULWVVXEVLGLDULHV $OORWKHUSURGXFW DQGFRPSDQQDPHVDUHSURSHUWRIWKHLUUHVSHFWLYHRZQHUV
7DEOHRIFRQWHQWV
7$%/(2)&217(176 &RQYHQWLRQVXVHGLQWKLVPDQXDO ² 5HODWHGGRFXPHQWV ² 0DLQFRPSRQHQWV ² 7ZR3DWLHQW6FUHHQV ² 6WDWXV6FUHHQ ² 5HFRUGHU ² 0DLQIXQFWLRQV ² $SSOLFDEOHEHGVLGHPRQLWRUV ² 'LVSODHGLQIRUPDWLRQ ² 9LHZLQJ ² 3DUDPHWHUV ² 7UHQGV ² $ODUPVDQGPHVVDJHV ² 3DWLHQWLQIRUPDWLRQ ² &RQWUROV ² 0RXVH ² &RPPDQGEXWWRQV ² .HERDUGNHV ² 1HWZRUNLQJ ² 'DWH[2KPHGD0RQLWRU1HWZRUN ² 'DWH[2KPHGD61HWZRUN ² 9LHZ6WDWLRQV ² :HE9LHZHU ² $UUKWKPLD:RUNVWDWLRQ ² &HQWUDOL]HGSULQWLQJ ² 6PEROV ² ,QVWDOOLQJWKH&HQWUDODQG9LHZ6WDWLRQ ² &RQILJXULQJWKH&HQWUDODQG9LHZ6WDWLRQ ² 6HWWLQJWLPHDQGGDWH ² &DEOHFRQQHFWLRQV ² 6HOHFWLQJEHWZHHQ3DWLHQW9LHZDQG0XOWL9LHZ ² &KDQJLQJSDJH ² 0RYLQJIRFXVIURPRQH3DWLHQW6FUHHQWRDQRWKHU ² 6LOHQFLQJDODUPV ² $FNQRZOHGJLQJDODUPV ² 6LOHQFLQJDEHGVLGHPRQLWRUSHUPDQHQWO ² 9LHZLQJWUHQGV ² 3ULQWLQJ ² 5HFRUGLQJ ² $GPLWWLQJSDWLHQWV ² &ORVLQJDPHQX ² L
'DWH[2KPHGD6&HQWUDO
$GPLWWLQJSDWLHQWV ² &KDQJLQJSDWLHQWGDWD² 6DYLQJSDWLHQWGDWDWRQHWZRUN ² /RDGLQJSDWLHQWWUHQGVIURPWKHQHWZRUN ² /RDGLQJDFORVHGDQHVWKHVLDUHFRUGNHHSLQJFDVHIURPWKHQHWZRUN ² 0RYLQJSDWLHQWWUHQGVEHWZHHQPRQLWRUVZLWKDGDWDFDUG² 3UHVHQWDWLRQRIDODUPV ² $ODUPFDWHJRULHV ² $ODUPRQWKH3DWLHQW6FUHHQ² $ODUPRQWKH6WDWXV6FUHHQ² $ODUPWRQHV² 6LOHQFLQJDODUPV² 6LOHQFLQJDPRQLWRUORFDWLRQDWWKH&HQWUDOIRUWZRPLQXWHV² $FNQRZOHGJLQJDQDODUP² 6LOHQFLQJDOOYLVLEOHORFDWLRQVDWWKH&HQWUDOIRUWZRPLQXWHV² 6LOHQFLQJDPRQLWRUORFDWLRQDWWKH&HQWUDOSHUPDQHQWO ² 6LOHQFLQJDEHGVLGHPRQLWRUIURPWKH&HQWUDOSHUPDQHQWO ² 6LOHQFLQJ&HQWUDODODUPVIURPWKHEHGVLGHPRQLWRU ² 6LOHQFLQJDOO&HQWUDODODUPVSHUPDQHQWO² $GMXVWLQJDODUPV² $GMXVWLQJDODUPVOLPLWV ² 6HOHFWLQJDODUPVWREHGLVSODHG² 0XOWL9LHZPRGHV ² 6HOHFWLQJWKHPRGH ² SDWLHQWYLHZZLWKRQHZDYHIRUP ² SDWLHQWYLHZZLWKWZRZDYHIRUPV ² SDWLHQWYLHZ² 'LVSODHGSDUDPHWHUV² 6HOHFWLQJWKHVHFRQGZDYHIRUPDQGQXPHULFILHOG² 6HOHFWLQJDVSHFLILFORFDWLRQ² 3DJHV² 6HOHFWLQJWKHGLVSODHGSDJH ² 0RYLQJIURPSDJHWRSDJH² 'LVSODLQJQH[WSDJHVDXWRPDWLFDOO² 6ZLWFKLQJIURP3DWLHQW6FUHHQWRDQRWKHU² 3DWLHQW9LHZFRQWHQWV ² 'LVSODHGSDUDPHWHUV ² 6HOHFWLQJWKHGLVSODHGORFDWLRQ ² 6HOHFWLQJDORFDWLRQIURP0XOWL9LHZIRUFORVHUYLHZLQJLQ3DWLHQW9LHZ ² &KRRVLQJQH[WRUSUHYLRXVORFDWLRQLQ3DWLHQW9LHZ ² 'LVSODLQJQH[WORFDWLRQVDXWRPDWLFDOO ² 5HWXUQLQJWR0XOWL9LHZPRGH ² 2YHUYLHZ ² LL
7DEOHRIFRQWHQWV
7UHQGHGSDUDPHWHUV ² 0RVWFRPPRQWDVNV ² *UDSKLFDOWUHQGYLHZ ² &XUVRU ² *UDSKLFDOWUHQGSDJHV ² &KDQJLQJWUHQGOHQJWKDQGUHVROXWLRQ ² &KDQJLQJWUHQGVFDOH ² 1XPHULFDOWUHQGYLHZ ² 1XPHULFDOWUHQGSDJHV ² )DFWRUGHIDXOWSDJHV ² 3ULQWLQJ7UHQGV ² 3ULQWLQJZLWKDODVHUSULQWHU ² 3ULQWLQJVQDSVKRWV ² 5HFRUGLQJZLWKWKHVWULSFKDUWUHFRUGHU ² $XWRPDWLFUHFRUGLQJRIDODUPV ² 6WDUWLQJWKHUHFRUGHUPDQXDOO ² 6WRSSLQJWKHPDQXDOOVWDUWHGUHFRUGLQJ ² 5HFRUGHUVHWWLQJV ² /RDGLQJWKHWKHUPDOSDSHU ² 6WDWXV6FUHHQFRQILJXUDWLRQVDQGSDJHV ² &RQILJXUDWLRQV ² 3DJHV ² 0HVVDJHZLQGRZ ² 9LHZLQJGDWDRQWKH6WDWXV6FUHHQ ² ([LWLQJSURJUDP ² 8VLQJ3DWLHQW6FUHHQ ² 7XUQLQJRIIWKHFRPSXWHU ² 6WDUWLQJSURJUDP ² $IWHUKDYLQJH[LWHGWKHSURJUDP ² $IWHUKDYLQJVZLWFKHGRIIWKH1HWZRUN&RPSXWHU ² :DUQLQJV ² &DXWLRQV ² 'LVSRVDO ² &OHDQLQJLQVWUXFWLRQV ² 3UHYHQWLYHPDLQWHQDQFH ² 5HFRUGHU ² 0HVVDJHV ² 2WKHUVPSWRPVRIWURXEOH ² 7HFKQLFDOVSHFLILFDWLRQV ² 3RZHUVXSSOLHV ² (QYLURQPHQWDOFRQGLWLRQV ²
LLL
+RZWRXVHWKLVPDQXDO
1
+2:7286(7+,60$18$/ 7KHSXUSRVHRIWKLVPDQXDOLVWRKHOSRXLQXVLQJWKH'DWH[2KPHGD6 &HQWUDODQG9LHZ6WDWLRQIRURXUGDLOURXWLQHV
&RQYHQWLRQVXVHGLQWKLVPDQXDO ³
7RFOLFNPHDQVWRSUHVVVKRUWOWKHOHIWPRXVHEXWWRQ7KHULJKWPRXVH EXWWRQLVGLVDEOHG
7RKHOSRXILQGDQGLQWHUSUHWLQIRUPDWLRQHDVLOWKHPDQXDOXVHVFRQVLVWHQW WH[WIRUPDWV ³
&RPPDQGEXWWRQVRQWKHVFUHHQDUHZULWWHQLQWKHIROORZLQJZD 6VWHP6HWXS
³
.HERDUGNHQDPHVDUHZULWWHQLQWKHIROORZLQJZD (QWHU7UHQGV
³
0HQXLWHPVDUHZULWWHQLQEROGLWDOLFWSHIDFHIRUH[DPSOH/RFDWLRQ
³
0HVVDJHV DODUPPHVVDJHVLQIRUPDWLYHPHVVDJHV GLVSODHGRQWKH VFUHHQDUHZULWWHQLQVLGHVLQJOHTXRWHVIRUH[DPSOH¶/HDUQLQJ·
³
:KHQUHIHUULQJWRGLIIHUHQWVHFWLRQVLQWKLVPDQXDORURWKHUPDQXDOVWKH PDQXDORUVHFWLRQQDPHVDUHZULWWHQLQLWDOLFWSHIDFHDQGHQFORVHGLQ GRXEOHTXRWHV ´,QWURGXFWLRQµ
5HODWHGGRFXPHQWV )RUPRUHLQIRUPDWLRQRQ
6HH
'DWH[2KPHGD61HWZRUNFRQILJXUDWLRQ DQGVHWXS
'DWH[2KPHGD6&HQWUDODQG1HWZRUN 7HFKQLFDO5HIHUHQFH0DQXDO
,QVWDOODWLRQDQGFRQILJXUDWLRQRIWKH &HQWUDODQG9LHZ6WDWLRQ
'DWH[2KPHGD6&HQWUDODQG1HWZRUN 7HFKQLFDO5HIHUHQFH0DQXDO
0RQLWRUHGSDUDPHWHUVDQGDODUPVRQWKH GLVSOD
8VHUGRFXPHQWDWLRQIRUEHGVLGHPRQLWRUV FRQQHFWHGWRWKHQHWZRUN
6HUYLFHRIWKH&HQWUDODQGWKH'DWH[ 2KPHGD61HWZRUN
'DWH[2KPHGD6&HQWUDODQG1HWZRUN 7HFKQLFDO5HIHUHQFH0DQXDO
'DWH[2KPHGD6:HE9LHZHU
'DWH[2KPHGD6:HE9LHZHU8VHU·V 5HIHUHQFH0DQXDO GHOLYHUHGDVDSGIILOH WRJHWKHUZLWKWKH:HE9LHZHU
²
'DWH[2KPHGD6&HQWUDO
'DWH[2KPHGD6$UUKWKPLD :RUNVWDWLRQ
'DWH[2KPHGD6$UUKWKPLD:RUNVWDWLRQ 8VHU·V5HIHUHQFH0DQXDO
3ULQWHUUHFRUGHU
8VHUGRFXPHQWDWLRQGHOLYHUHGZLWKRXU SULQWHUUHFRUGHU
7KH'DWH[2KPHGD61HWZRUN &RPSXWHU
8VHUGRFXPHQWDWLRQGHOLYHUHGZLWKWKHFRPSXWHU
²
2YHUYLHZ
2
29(59,(:
0DLQFRPSRQHQWV 7KHPDLQFRPSRQHQWVRID&HQWUDORU9LHZ6WDWLRQDUHVKRZQEHORZ
+
3
1 2
-
4
5
)LJXUH
'DWH[2KPHGD6&HQWUDO9LHZ6WDWLRQFRPSRQHQWV
(1)
3DWLHQW6FUHHQGLVSODVZDYHIRUPVQXPHULFILHOGVDODUPVDQGRWKHU SDWLHQWLQIRUPDWLRQDQGDOORZVDFFHVVWRYDULRXVVVWHPOHYHO RSHUDWLRQV)ODW/&'PRGHO
(2)
1HWZRUN&RPSXWHU
(3)
3DWLHQW6FUHHQ&57PRGHO
(4)
6RIWZDUH6&1(7RU691(7SUHORDGHG
(5)
3&NHERDUGDQGPRXVHWRFRQWUROWKHXVHULQWHUIDFH
<RXFDQFRQQHFWDODVHUSULQWHURUDVWULSFKDUWUHFRUGHUWRWKHVVWHP
&$87,21
'RQRWXVHWKH1HWZRUN&RPSXWHUIRUUXQQLQJDQSURJUDPVRWKHU WKDQWKRVHDSSURYHGE'DWH[2KPHGD 127( ,IWKHSRZHULVWXUQHGRIIIURPWKH1HWZRUN&RPSXWHUDOOQHWZRUN FRPPXQLFDWLRQUXQQLQJXQGHUWKHVSHFLILF&HQWUDOFHDVHV'RQRWWXUQRIIWKH PDLQVSRZHUXQOHVVQHWZRUNFRQILJXUDWLRQLVJRLQJWREHFKDQJHG
²
'DWH[2KPHGD6&HQWUDO
7ZR3DWLHQW6FUHHQV 7KH'DWH[2KPHGD6&HQWUDOVXSSRUWVWKHXVHRIWZRLQGHSHQGHQWO FRQILJXUHG3DWLHQW6FUHHQV7KHVFUHHQVFDQEHSODFHGQH[WWRHDFKRWKHUWR GLVSODDOOPRQLWRUORFDWLRQVVLPXOWDQHRXVO $GGLWLRQDOGLVSODVFDQEHFRQQHFWHGWRWKHGLVSODERDUGRIWKHFRPSXWHUZLWK YLGHRVSOLWWHUV7KHLQIRUPDWLRQGLVSODHGLVLGHQWLFDOWRWKHUHVSHFWLYH3DWLHQW 6FUHHQ %RWK3DWLHQW6FUHHQVKDYHWKHLURZQ6FUHHQ6HWXSPHQXVWKDWRXFDQDFFHVV IURPWKH6VWHP6HWXSPHQXRQHLWKHURQHRIWKHWZRVFUHHQV
6WDWXV6FUHHQ 7KH6WDWXV6FUHHQLVDVSHFLDOYLHZGLVSODLQJSDWLHQWDQGDODUPLQIRUPDWLRQDV ZHOODVVVWHPQHWZRUNDQGHTXLSPHQWUHODWHGPHVVDJHV$OVRVHUYLFHSDJHV DUHDFFHVVHGYLD6WDWXV6FUHHQEXWWKHDUHDYDLODEOHWRTXDOLILHGVHUYLFH SHUVRQQHORQO 6WDWXV6FUHHQLVUXQQLQJRQWKHVDPHVFUHHQDVWKH3DWLHQW6FUHHQDQGLWFDQEH DFFHVVHGE)IXQFWLRQNH
5HFRUGHU 7KH&HQWUDOFDQEHHTXLSSHGZLWKDLQFKRULQFKVWULSFKDUWUHFRUGHUWKDW SULQWVDODUPWULJJHUHGVWULSVDQGFRQWLQXRXVZDYHIRUPVDVGHILQHGGXULQJ LQVWDOODWLRQ
0DLQIXQFWLRQV 7KH'DWH[2KPHGD6&HQWUDO HTXLSSHGZLWK6&1(7 •
FROOHFWVGLVSODVDQGSULQWVPHDVXUHGRULQWHUIDFHGSDWLHQWGDWDIURP WKHPRQLWRUVFRQQHFWHGWRWKH'DWH[2KPHGD0RQLWRU1HWZRUN
•
VXSSRUWVUHPRWHDODUPPDQDJHPHQW
•
FROOHFWVHYHQWVDQGRWKHUHQWHUHGGDWDIURPWKH$QHVWKHVLD5HFRUG .HHSLQJVROXWLRQ
•
VWRUHVGDWDRULJLQDWLQJIURPWKHEHGVLGHPRQLWRUVWKHFRQILJXUDWLRQILOHV IRUWKH&HQWUDODQG$QHVWKHVLD5HFRUG.HHSLQJVROXWLRQDQGWKHXVHU PRGHVIRUWKHEHGVLGHPRQLWRUVLQWKHQHWZRUN7KHGDWDLVVWRUHGRQWKH 1HWZRUN&RPSXWHU·VKDUGGLVN
²
2YHUYLHZ
•
HQDEOHVPRQLWRUWRPRQLWRUFRPPXQLFDWLRQLQWKH'DWH[2KPHGD6 1HWZRUNZLWKXSWRVLPXOWDQHRXVOLQNV
•
HQDEOHVFRPPXQLFDWLRQZLWKXSWRWKUHHRWKHU&HQWUDOVZLWKLQ'DWH[ 2KPHGD61HWZRUN
•
FDQRSWLRQDOODFFHVVODERUDWRUDQGKRVSLWDOLQIRUPDWLRQVVWHPV WKURXJKDKRVSLWDOQHWZRUN
7KHVHIHDWXUHVHQVXUHFRQWLQXLWRIGDWDIURPWKHDQHVWKHVLDRURWKHUDUHDVWR FULWLFDOFDUHZLWKLQWKH'DWH[2KPHGD61HWZRUN 7KH&HQWUDOFDQEHFRQILJXUHGZLWKXSWR'DWH[2KPHGDPRQLWRUV2QH 3DWLHQW6FUHHQLVDEOHWRVKRZXSWRPRQLWRUORFDWLRQVDWDWLPH )RUPRUHLQIRUPDWLRQRQFRQILJXULQJWKH&HQWUDOVHH´7HFKQLFDO5HIHUHQFH 0DQXDOµ 127( ,IDEHGVLGHPRQLWRURUWKHFRQQHFWLRQEHWZHHQDPRQLWRUDQGWKH QHWZRUNLVWXUQHGRIIRUIDLOVDPHVVDJHLVGLVSODHG
$SSOLFDEOHEHGVLGHPRQLWRUV 7KH&HQWUDODQG9LHZ6WDWLRQFDQDFFHSWGDWDIURPWKH'DWH[2KPHGD6 PRQLWRUV$6PRQLWRUV&6PRQLWRUV/LJKW0RQLWRUDQG&DUGLRFDS PRQLWRUVZLWKIROORZLQJRSWLRQV 7DEOH
$SSOLFDEOHEHGVLGHPRQLWRUV
0RQLWRUWSH
2SWLRQUHTXLUHG
5HPRWHDODUPPDQDJHPHQW
$QHVWKHVLD0RQLWRU&ULWLFDO &DUH0RQLWRU
%83,1(7LQVWDOOHG
0RQLWRUVZLWKVRIWZDUH/$1($ /$1(6,&86,&8$ 5HTXLUHVDOVR'5,OHYHO
&RPSDFW$QHVWKHVLD0RQLWRU &RPSDFW&ULWLFDO&DUH0RQLWRU
1&01(7RU1&00(0
0RQLWRUVZLWKVRIWZDUH/&$1($ /&$1(6&,&86&,&8$ 5HTXLUHVDOVR'5,OHYHO
&DUGLRFDS
1;1(7RU1;'1(7
1RWDSSOLFDEOH
/LJKW0RQLWRU
1/1(7RU1/'1(7
1RWDSSOLFDEOH
²
'DWH[2KPHGD6&HQWUDO
'LVSODHGLQIRUPDWLRQ 9LHZLQJ 7KHUHDUHIRXUGLIIHUHQWGLVSODPRGHVRQWKH3DWLHQW6FUHHQ 3DWLHQW9LHZWKDW GLVSODVRQHSDWLHQWDWLPHDQGWKUHH0XOWL9LHZVZLWKVHYHUDOSDWLHQWVHFWRUVRQ WKHVFUHHQ 'XULQJLQVWDOODWLRQLWLVSRVVLEOHWRGHILQHYDULRXVSDJHVWRGLVSODGHVLUHG PRQLWRUORFDWLRQVRQWKHVFUHHQ,WLVDOVRSRVVLEOHWRGHILQHVHWVRIWKHVHSDJHV WRIRUPVRFDOOHGFRQILJXUDWLRQV&RQILJXUDWLRQVDUHDYDLODEOHERWKLQ3DWLHQW 6FUHHQDQG6WDWXV6FUHHQEXWWKHFRQILJXUDWLRQFDQEHFKDQJHGRQOLQ6WDWXV 6FUHHQ
3DUDPHWHUV 7KHPRQLWRUVGLVSODWKHSDWLHQWV·PHDVXUHGSDUDPHWHUYDOXHV7KH&HQWUDODQG 9LHZ6WDWLRQGLVSODWKHVHSDUDPHWHUYDOXHVRQXSWRWZR3DWLHQW6FUHHQV<RX FDQQRWDGMXVWWKHZDYHIRUPVFDOHVRUSDUDPHWHUXQLWVGLUHFWOIURPWKH&HQWUDO RU9LHZ6WDWLRQ7KHVFDOHVDQGXQLWVDUHFKDQJHGDWWKHVRXUFHPRQLWRU
7UHQGV 7KH&HQWUDOFDQGLVSODERWKJUDSKLFDODQGQXPHULFDOWUHQGVRIDOOSDUDPHWHUV ZKLFKFDQEHGLVSODHGRQ3DWLHQW6FUHHQ7UHQGVFRQWDLQWKHVDPHGDWDDVWKH VRXUFHPRQLWRU 7KHUHLVDWUHQGFXUVRULQERWKJUDSKLFDODQGQXPHULFDOWUHQGV,WHQDEOHV VFUROOLQJWKHWUHQGGDWDDQGYLHZLQJGHWDLOHGYDOXHVIURPDVHOHFWHGWLPH
$ODUPVDQGPHVVDJHV 7KH&HQWUDODQG9LHZ6WDWLRQGLVSOD ³
DODUPVIURPWKHPRQLWRUVLQWKHQHWZRUNRQWKH3DWLHQW6FUHHQ V DQGRQ WKH6WDWXV6FUHHQ
³
JHQHUDOPHVVDJHVVXFKDVSULQWHUHUURUVRQWKH3DWLHQW6FUHHQDQGRQ WKH6WDWXV6FUHHQ
³
DODUPVVLOHQFHGVWDWXVPHVVDJHVDQGVPEROVIURPWKHPRQLWRUVRQWKH 3DWLHQW6FUHHQ
²
2YHUYLHZ
3DWLHQWLQIRUPDWLRQ 7KH&HQWUDODQG9LHZ6WDWLRQGLVSODSDWLHQW VQDPHRU,'WRJHWKHUZLWK PRQLWRULQJLQIRUPDWLRQ7KH6WDWXV6FUHHQFDQEHFRQILJXUHGWRGLVSOD SHUVRQQHOLQIRUPDWLRQDQGWKHODWHVWHYHQWVGRFXPHQWHGZLWK$QHVWKHVLD 5HFRUG.HHSLQJVROXWLRQRUWKHODWHVWHYHQWVRIKHPRGQDPLFR[JHQDWLRQDQG YHQWLODWLRQFDOFXODWLRQVRUHYHQWVIURPLQWHUIDFHGGHYLFHVOLNHYHQWLODWRUVRWKHU PDQXIDFWXUHUV·PRQLWRUVRUEORRGJDVDQDO]HUV
&RQWUROV 7KH&HQWUDOLVFRQWUROOHGZLWKD3&NHERDUGDQGPRXVH
0RXVH 7KHPRXVHLVXVHGIRUVHOHFWLQJWKHSDWLHQWVHFWRUVZLWFKLQJEHWZHHQ3DWLHQW 9LHZDQG0XOWL9LHZDQGFOLFNLQJRQWKHFRPPDQGEXWWRQVRQWKHVFUHHQ •
7RFOLFNSUHVVVKRUWOWKHOHIWPRVWEXWWRQRIWKHPRXVHRQFH
7KHULJKWPRVWEXWWRQRIWKHPRXVHLVGLVDEOHG
&RPPDQGEXWWRQV &RPPDQGEXWWRQVDUHGLVSODHGRQWKHVFUHHQHQDEOLQJQDYLJDWLRQZLWKWKH PRXVH7RVWDUWWKHIXQFWLRQRIDFRPPDQGEXWWRQ •
&OLFNWKHPRXVHRQFH 2SHQVWKH6VWHP6HWXSPHQXIRUHJVFUHHQVHWXS 2SHQVWKH3DWLHQW6HWXSPHQXIRUSULQWLQJSDWLHQWDGPLVVLRQ SDWLHQWVHFWRUVHWXSHWF 6LOHQFHVDODUPVDWWKHORFDWLRQIRUWZRPLQXWHV 7RDFNQRZOHGJHDQDODUPFOLFNWKHEXWWRQWZLFH 6WDUWVVWRSVUHFRUGLQJ 9LHZVWUHQGV RQOLQ3DWLHQW9LHZ &KDQJHVSDJHV
²
'DWH[2KPHGD6&HQWUDO
.HERDUGNHV :LWKDUURZNHV↑DQG↓RXFDQVFUROO ³
,Q0XOWL9LHZIURPDSDWLHQWVHFWRUWRDQRWKHU
³
0HQXURZV
³
&XUVRURQDQXPHULFDOWUHQGSDJH
:LWKDUURZNHV→DQG←RXFDQPRYHWKHFXUVRURQDJUDSKLFDOWUHQGSDJH :LWK3DJHXSGRZQNHVRXFDQWXUQSDJHVLQ0XOWLDQG3DWLHQW9LHZ :LWK(QWHUNHRQWKHQXPHULFNHSDGRXVHOHFWGDWDHJRSHQWKH3DWLHQW 9LHZRIWKHKLJKOLJKWHGORFDWLRQ
(DVDFFHVVDQGIXQFWLRQNHV (DVDFFHVVNHVDUHWKHVSHFLDONHVLQWKHWRSPRVWURZRIWKHNHERDUG
6WDUW 5HFRUGHU
)
6WRS 5HFRUGHU
)
)LJXUH
3ULQW 6QDSVKRW
)
)
$ODUPV 6HWXS
$GPLW 3DWLHQW
7UHQGV
)
)
)
3DWLHQW 6HWXS
1RUPDO 6FUHHQ
)
(DVDFFHVVNHV
)XQFWLRQNHVDUHDVVLJQHGWRFHUWDLQIXQFWLRQVDQGHLJKWODVWRQHVZRUN VLPLODUOWRHDVDFFHVVNHV )
6LOHQFH&HQWUDO VLOHQFHVDOODFWLYDWHGDODUPVRID&HQWUDOIRUWZR PLQXWHV
)
6VWHP6HWXS RSHQVDPHQXIRUDGMXVWLQJVFUHHQVHWXS
)
6WDWXV6FUHHQ RSHQVFORVHVWKH6WDWXV6FUHHQYLHZ
)
6WDUW5HFRUGHU
)
6WRS5HFRUGHU
)
3ULQW6QDSVKRW
²
2YHUYLHZ
)
7UHQGV RSHQVWKHWUHQGYLHZDQGPHQX
)
$GPLW3DWLHQW RSHQVWKHPHQXIRUDGPLWWLQJSDWLHQW
)
$ODUPV6HWXS RSHQVWKHPHQXIRUHJDGMXVWLQJDODUPOLPLWVDQG
DODUPVLOHQFLQJRSWLRQV )
3DWLHQW6HWXS RSHQVWKHPHQXIRUSULQWLQJSDWLHQWDGPLVVLRQ SDWLHQWVHFWRUVHWXSHWF
)
1RUPDO6FUHHQ FORVHVDOOPHQXVDQGVSHFLDOYLHZVDQGUHVWRUHVWKH YLHZWKDWLVFRQILJXUHGWREHGHIDXOW
²
'DWH[2KPHGD6&HQWUDO
1HWZRUNLQJ 'DWH[2KPHGD0RQLWRU1HWZRUN 8SWRPRQLWRUVFDQEHFRQQHFWHGWRWKH6&HQWUDOWRIRUPDPRQLWRU QHWZRUN
)LJXUH
'DWH[2KPHGD0RQLWRU1HWZRUN
(1)
%HGVLGHPRQLWRUV
(2)
'DWH[2KPHGD6&HQWUDO
'DWH[2KPHGD61HWZRUN $PD[LPXPRIIRXU'DWH[2KPHGD0RQLWRU1HWZRUNVFDQEHFRQQHFWHGWRJHWKHU WRIRUPWKH'DWH[2KPHGD61HWZRUN7KH'DWH[2KPHGD61HWZRUN HQDEOHVUHDOWLPHYLHZLQJRIPRQLWRUVPRQLWRUWRPRQLWRUFRPPXQLFDWLRQDQG GDWDFRQWLQXLWRYHUWKHHQWLUHQHWZRUN
²
2YHUYLHZ
)LJXUH
'DWH[2KPHGD61HWZRUN
(1)
0RQLWRUQHWZRUN
(2)
9LHZ6WDWLRQ
(3)
$PRQLWRUQHWZRUNZLWKDORFDOVWULSFKDUWUHFRUGHUDQGDQHWZRUNSULQWHU
9LHZ6WDWLRQV 8SWRIRXU9LHZ6WDWLRQVFDQEHFRQQHFWHGWRWKH'DWH[2KPHGD61HWZRUN 7KH9LHZ6WDWLRQRIIHUVWKHVDPHVHUYLFHVDVWKH&HQWUDOH[FHSW ³
LWFDQQRWVWRUHSDWLHQWWUHQGGDWD
³
LWKDVQRQHWZRUNVHUYHUUHVSRQVLELOLWLHV
7KH9LHZ6WDWLRQXVHVWKHVRIWZDUH691(7
:HE9LHZHU $:HE6HUYHUFDQEHFRQQHFWHGWRWKH'DWH[2KPHGD61HWZRUN7KH:HE 6HUYHUSURYLGHVSDWLHQWGDWD ZDYHIRUPVQXPHULFVDODUPVDQGWUHQGV WR :HE9LHZHUFOLHQWVWKDWDUH3&VWKDWFDQUHVLGHDQZKHUHZLWKLQWKHKRVSLWDO·V ORFDODUHDQHWZRUN,Q:HE9LHZHUFOLHQWVDVWDQGDUGZHEEURZVHUFDQEHXVHG WRYLHZSDWLHQWGDWD
²
'DWH[2KPHGD6&HQWUDO
$UUKWKPLD:RUNVWDWLRQ 'DWH[2KPHGD6$UUKWKPLD:RUNVWDWLRQFDQEHFRQQHFWHGWRWKHPRQLWRU QHWZRUN(DFKPRQLWRUFDQEHFRQQHFWHGWRRQH$UUKWKPLD:RUNVWDWLRQRQO DQGWKHPD[LPXPQXPEHURIPRQLWRUVFRQQHFWHGWRDQ$UUKWKPLD:RUNVWDWLRQ LV $UUKWKPLD:RUNVWDWLRQUHTXLUHVLWVRZQORFDOSULQWHU LWFDQQRWXVHWKHVDPH SULQWHUDVWKH&HQWUDO
&HQWUDOL]HGSULQWLQJ 7KH&HQWUDOSURYLGHVFHQWUDOL]HGSULQWLQJVHUYLFHVIRUDOOWKHEHGVLGHPRQLWRUV DQGLQWKHDQHVWKHVLDHQYLURQPHQWWKH$QHVWKHVLD5HFRUG.HHSLQJVROXWLRQV FRQQHFWHGWRWKHQHWZRUN7KHSULQWHUFDQEHORFDORULWFDQUHVLGHLQWKH'DWH[ 2KPHGD61HWZRUN ³
,QWKHDQHVWKHVLDHQYLURQPHQWRXFDQSULQWZDYHIRUPVQDSVKRWV DQHVWKHVLDUHFRUGVDQGWUHQGV
³
,QWKHFULWLFDOFDUHHQYLURQPHQWRXFDQSULQWZDYHIRUPVQDSVKRWV SDWLHQWUHSRUWVDQGWUHQGV
³
,QERWKHQYLURQPHQWVRXFDQFRQILJXUHWKHEHGVLGHPRQLWRUVWRSULQWRQ WKHFHQWUDOSULQWHU V WKDWLV DUH FRQQHFWHGWRWKH'DWH[2KPHGD6 1HWZRUN$QPRQLWRUSULQWRXWVFDQEHSULQWHGWRWKHQHWZRUN
6PEROV 7KHVPEROVDQGDEEUHYLDWLRQVWKDWDUHGLVSODHGIURPWKHPRQLWRUVDUH H[SODLQHGLQWKHPRQLWRU·VXVHUGRFXPHQWDWLRQ7KHDSSHDURQWKH&HQWUDO VFUHHQZLWKRXWVHSDUDWHH[SODQDWLRQ 7KHVPEROVRQWKH1HWZRUN&RPSXWHU·VUHDUSDQHODUHH[SODLQHGLQWKH3&XVHU GRFXPHQWDWLRQLQFOXGHGLQWKHGHOLYHU $WWHQWLRQ&RQVXOWDFFRPSDQLQJGRFXPHQWV 2QWKHUHDUSDQHORIWKHFRPSXWHURUWKHGLVSODWKHVPEROLQGLFDWHVWKDWWKH GHYLFHPXVWEHHTXLSSHGZLWKDVHSDUDWLQJWUDQVIRUPHUZKHQSODFHGLQD PHGLFDOOXVHGURRP
:$51,1* 2QWKHIURQWSDQHORIWKHGLVSODWKHVPERO LQGLFDWHVWKDWWKHORXGVSHDNHUYROXPHPXVWQRWEHDGMXVWHGDW WKHGLVSOD,IWKHYROXPHLVVLOHQFHGIURPWKHGLVSODDOO SDWLHQWDODUPVZLOOEHVLOHQFHGDQGWKHUHZLOOEHQRYLVLEOH ²
2YHUYLHZ
LQGLFDWLRQRIWKHVLOHQFHGVWDWH7KHYROXPHVKRXOGRQOEH DGMXVWHGWKURXJKWKHPHQXLQWKHVRIWZDUH )XVH5HSODFHRQOZLWKDIXVHZLWKVDPHWSHDQGUDWLQJV (TXLSRWHQWLDOWHUPLQDO 7KH/('PDUNHGZLWKWKLVVPEROLQGLFDWHVUHFRUGHUHUURU
,QWHUIDFHGHYLFHFRQQHFWRU 3DJHVFUROOLQJVPERO7KH&HQWUDODQG9LHZ6WDWLRQDUHDXWRPDWLFDOO GLVSODLQJWKHQH[WSDJHDWFRQILJXUDEOHLQWHUYDOV $ODUPVVLOHQFHG 6LOHQFHDODUPVEXWWRQ 6WDUW6WRSUHFRUGHUEXWWRQ 9LHZWUHQGVEXWWRQ
²
,QVWDOODWLRQDQGFRQILJXUDWLRQ
3
,167$//$7,21$1'&21),*85$7,21
,QVWDOOLQJWKH&HQWUDODQG9LHZ6WDWLRQ 6SHFLDOOWUDLQHGSHUVRQQHOZKRZLOODOVRSHUIRUPWKHRQVLWHFRQILJXUDWLRQRI WKHVVWHPVKRXOGLQVWDOOWKH&HQWUDODQG9LHZ6WDWLRQ)RUGHWDLOVDERXW LQVWDOODWLRQVHH´7HFKQLFDO5HIHUHQFH0DQXDOµ
:$51,1*
'RQRWFRQQHFWDQH[WHUQDOHTXLSPHQWWRWKHVVWHPH[FHSW WKDWVSHFLILHGE'DWH[2KPHGD
:$51,1*
'RQRWXVHWKH'DWH[2KPHGD6&HQWUDODQG9LHZ6WDWLRQLQ WKHSUHVHQFHRIIODPPDEOHDQHVWKHWLFV
:$51,1*
:KHQRXFRQQHFWRWKHUHTXLSPHQWWRWKH&HQWUDODQG 9LHZ6WDWLRQPDNHVXUHWKDWWKHZKROHFRPELQDWLRQFRPSOLHV ZLWKWKHLQWHUQDWLRQDOVDIHWVWDQGDUG,(&IRUWKH PHGLFDOHOHFWULFDOVVWHPVDQGZLWKWKHUHTXLUHPHQWVRIWKH ORFDODXWKRULWLHV 7KH&HQWUDO9LHZ6WDWLRQDQGWKHSULQWHUVKDOOEHVXSSOLHGIURP DQDGGLWLRQDOWUDQVIRUPHUSURYLGLQJDWOHDVWEDVLFLVRODWLRQ LVRODWLQJRUVHSDUDWLQJWUDQVIRUPHU ZKHQSODFHGLQDPHGLFDOO XVHGURRP:LWKRXWDQDSSURSULDWHWUDQVIRUPHUWKHOHDNDJH FXUUHQWLQWKHVVWHPPDH[FHHGWKHYDOXHDOORZHGIRUWKH PHGLFDOHOHFWULFDOHTXLSPHQW
:$51,1*
(QVXUHWKDWWKHDGGLWLRQDOGLVSODLVSURSHUOJURXQGHGEHIRUH FRQQHFWLQJLWWRWKH'DWH[2KPHGD6&HQWUDO
&RQILJXULQJWKH&HQWUDODQG9LHZ6WDWLRQ 6SHFLDOOWUDLQHGSHUVRQQHORQOPDSHUIRUPFRQILJXULQJGXULQJVVWHP LQVWDOODWLRQZLWKVSHFLILFVRIWZDUH&RQILJXUDWLRQLVSDVVZRUGSURWHFWHG&HQWUDOV DQG9LHZ6WDWLRQVDUHFRQILJXUHGWRPHHWWKHKRVSLWDOVSHFLILFQHHGVIRU H[DPSOH ³
QDPHVIRUPRQLWRUORFDWLRQVDQGWKHKRVSLWDO
³
SDJHFRQWHQWVDQGWLWOHV
³
HQDEOLQJSHUPDQHQWDODUPVLOHQFLQJDODUPOLPLWDGMXVWLQJDQGEHGVLGH PRQLWRUVLOHQFLQJ ²
'DWH[2KPHGD6&HQWUDO
³
JUDSKLFDOWUHQGV
³
6WDWXV6FUHHQSDJHV
127( ,'SOXJQXPEHUVRIDOOPRQLWRUVLQDPRQLWRUQHWZRUNPXVWEHFRQILJXUHG WRD&HQWUDO7KLVDSSOLHVWRWUDQVSRUWPRQLWRUVWRR 5HFRUGHUDQGDODUPRSWLRQVFDQEHDGMXVWHGRQWKHUXQLQWKH6VWHP6HWXS ,QVWDOO 6HUYLFH,QVWDOODWLRQPHQX7KHPHQXLVSDVVZRUGSURWHFWHG2WKHU FRQILJXUHGLWHPVFDQQRWEHFKDQJHGZKLOHWKH&HQWUDOLVUXQQLQJ7RUHFRQILJXUH H[LWWKHSURJUDPDQGVWRSWKHQHWZRUNFRPPXQLFDWLRQ6HHVHFWLRQ´([LWLQJDQG UHVWDUWLQJWKHSURJUDPµIRUPRUHLQIRUPDWLRQ
6HWWLQJWLPHDQGGDWH 7KH&HQWUDO VRSHUDWLQJVVWHPVHWVWKHWLPHDQGGDWHVHWWLQJVIRUWKHPRQLWRU QHWZRUN,Q'DWH[2KPHGD61HWZRUN ZLWKVHYHUDOPRQLWRUQHWZRUNV FRQQHFWHGWRJHWKHU WKHXVHRIDWLPHVHUYHULVUHFRPPHQGHG7KHWLPHDQGGDWH VKRXOGEHVHWRQOGXULQJLQVWDOODWLRQ
²