Under a real-time gross settlement (RTGS) system, there is an incentive for system participants to delay making their outgoing payments to facilitate their funding, and this creates the risk of settlement delays spreading throughout the entire system. Intraday credit facility and market practices have been established to avoid the risk and led to settlement concentration in the morning, as well...

s: We conducted field surveys to monitor the population dynamics of short-neck clam, Ruditapes philippinarum, in Hichirippu Lagoon, in eastern Hokkaido, Japan, focussing on the negative impact of extremely low temperatures during the winter on juveniles in the post-settlement period. The clam population had a short annual breeding season between September and November. The newly settled juvenil...

Exchanges and other trading platforms are often vertically integrated to carry out trading, clearing and settlement as one operation. We show that such vertical silos can prevent efficiency gains from horizontal consolidation of trading and settlement platforms to be realized. Independent of the gains from such consolidation, when costs of settlement are private information, there is no mechani...

The cross-border securities settlement in Europe is still said to be highly inefficient. One main reason can be seen in technical barriers between the different domestic settlement systems. Beside efforts to implement industryspecific communication standards an integration of the different settlement systems is necessary. The CSD-link model, the hub and spokes model, and the European CSD model ...

We investigate the role of settlement in a dynamic model of a payment system where the ability of participants to perform certain welfare-improving transactions is subject to random and unobservable shocks. In the absence of settlement, the full information first-best allocation cannot be supported due to incentive constraints. In contrast, this allocation is supportable if settlement is introd...

The global mussel aquaculture industry uses specialised spat catching and nursery culture ropes made of multi-filament synthetic and natural fibres to optimise settlement and retention of mussels for on-growing. However, the settlement ecology and preferences of mussels are poorly understood and only sparse information exists in a commercial context. This study quantified the settlement prefere...

A static and a dynamic analysis model are separately established using ABAQUS finite element program to study the mechanical properties of track structure and running stability and safety of the vehicle under the condition that uneven settlement of bridge piers exists. The static model is aimed at studying the effects caused by uneven settlement alone and the dynamic one is for the effects indu...

Traditional methods of settlement prediction of shallow foundations on granular soils are far from accurate and consistent. This can be attributed to the fact that the problem of estimating the settlement of shallow foundations on granular soils is very complex and not yet entirely understood. Recently, artificial neural networks (ANNs) have been shown to outperform the most commonly used tradi...

After a year and a half of negotiations and failure of an earlier settlement proposal to obtain Congressional approval, the four largest cigarette manufacturers reached a settlement with 46 states over state claims against the tobacco industry on November 23, 1998. According to the Master Settlement Agreement (MSA), cigarette manufacturers agreed to pay participating states $206 billion over th...