EXAR MP8795

03
&026
0636 9HU\ /RZ 3RZHU %LW
$QDORJWR'LJLWDO &RQYHUWHU
)($785(6
x
x
x
x
x
x
x
x
x
x
x
x
%(1(),76
3RZHU 'RZQ /RZHU &RQVXPSWLRQ ï P: W\S
%LW 5HVROXWLRQ
6DPSOLQJ 5DWHV IURP N+] WR 0+]
'1/ EHWWHU WKDQ /6% W\S XS WR 0+]
9HU\ /RZ 3RZHU &026 P: W\S
,QSXW 5DQJH EHWZHHQ *1' DQG 9
1R 6+ 5HTXLUHG IRU $QDORJ 6LJQDOV OHVV WKDQ N+]
1R 6+ 5HTXLUHG IRU &&' 6LJQDOV OHVV WKDQ 0+]
6LQJOH 3RZHU 6XSSO\ WR 9ROWV
/DWFK8S )UHH
+LJK (6' 3URWHFWLRQ 9ROWV 0LQLPXP
3LQ 3DFNDJH 03
0DUFK x 5HGXFHG ([WHUQDO 3DUWV 1R 6DPSOH+ROG 1HHGHG
x 6XLWDEOH IRU %DWWHU\ 3RZHU &ULWLFDO $SSOLFDWLRQV
x 'HVLJQHU &DQ $GDSW ,QSXW 5DQJH 6FDOLQJ
$33/,&$7,216
x P3'63 ,QWHUIDFH DQG &RQWURO $SSOLFDWLRQV
x +LJK 5HVROXWLRQ ,PDJLQJ ï 6FDQQHUV &RSLHUV )DF
''
VLPLOH
x 5DGDU 3XOVH $QDO\VLV
x /RZ 3RZHU $' $SSOLFDWLRQV
*(1(5$/ '(6&5,37,21
7KH 03 LV D IOH[LEOH HDV\ WR XVH SUHFLVLRQ ELW
6FDOHG UHIHUHQFH UHVLVWRU WDSV 5 DQG 5 DOORZ IRU
$QDORJWR'LJLWDO &RQYHUWHU WKDW RSHUDWHV RYHU D ZLGH
FXVWRPL]LQJ WKH WUDQVIHU FXUYH
UDQJH RI LQSXW DQG VDPSOLQJ FRQGLWLRQV 7KH 03 FDQ
VWDWH RSHUDWLRQ DQG DOO GLJLWDO SLQV DUH &026 DQG 77/
RSHUDWH ZLWK SXOVHG ´RQ GHPDQGµ FRQYHUVLRQ RSHUDWLRQ RU
FRPSDWLEOH
FRQWLQXRXV ´SLSHOLQHµ RSHUDWLRQ IRU VDPSOLQJ UDWHV XS WR
'LJLWDO RXWSXWV RIIHU
7KH 03 XVHV D WZR VWHS WHFKQLTXH
0+] 7KH HOLPLQDWLRQ RI WKH 6+ DQG VPDOO SDFNDJH
7KH ILUVW
VHJPHQW FRQYHUWV WKH 06%V DQG FRQVLVWV RI VL]H RIIHU WKH GHVLJQHU D ORZ FRVW VROXWLRQ 1R VDPSOH DQG
DXWREDODQFHG FRPSDUDWRUV ODWFKHV DQ HQFRGHU DQG
KROG LV UHTXLUHG IRU FKDUJH FRXSOHG GHYLFH DSSOLFDWLRQV
EXIIHU VWRUDJH UHJLVWHUV 7KH VHFRQG VHJPHQW FRQYHUWV
XS WR 0+] RU PXOWLSOH[HG LQSXW DSSOLFDWLRQV ZKHQ WKH
WKH UHPDLQLQJ /6%V
VLJQDO VRXUFH EDQGZLGWK LV OLPLWHG WR N+] 7KH LQSXW
DUFKLWHFWXUH RI WKH 03 DOORZV GLUHFW LQWHUIDFH WR DQ\
:KHQ WKH SRZHU GRZQ LQSXW LV ´KLJKµ WKH GDWD RXWSXWV
DQDORJ LQSXW UDQJH EHWZHHQ $*1' DQG $9'' WR 9 '% WR '% KROG WKH FXUUHQW YDOXHV DQG 95()ï LV
WR 9 WR 9 HWF 7KH XVHU VLPSO\ VHWV 95() DQG
GLVFRQQHFWHG IURP 95()ï 7KH SRZHU FRQVXPSWLRQ
95()ï WR HQFRPSDVV WKH GHVLUHG LQSXW UDQJH
GXULQJ WKH SRZHU GRZQ PRGH LV DSSUR[LPDWHO\ P:
6,03/,),(' %/2&. $1' 7,0,1* ',$*5$0
$9''
&RDUVH
&RPSDUDWRUV
$GGHU
'9''
I6 I%
I%
&/.
2):
1
95()
5
)LQH
5
5HVROXWLRQ
&RP
95()ï
'%'%
'%'%
1
1
2):
1
1
2(
SDUDWRUV
95()ï
/DGGHU
3'
9,1
'))
I6
&/.
$*1'
'*1'
5HY .
(;$5 &RUSRUDWLRQ .DWR 5RDG )UHPRQW &$ `
`
03
25'(5,1* ,1)250$7,21
3DFNDJH
7HPSHUDWXUH
'1/
,1/
7\SH
5DQJH
3DUW 1R
/6%
/6%
3ODVWLF 'LS
ï WR q&
03$1
r
r
62,&
ï WR q&
03$6
r
r
3,1 &21),*85$7,216
6HH 3DFNDJLQJ 6HFWLRQ IRU
3DFNDJH 'LPHQVLRQV
'%
'%
'%
'%
'%
'%
'%
'%
'%
'%
'%
3'
'%
3'
'%
$9''
'%
$9''
'*1'
$*1'
'*1'
$*1'
'9''
'9''
9,1
&/.
9,1
'%
'%
2):
2(
5
&/.
5
2(
95()ï
'%
95()ï
'%
95()
2):
3LQ 3',3 µ
'%
'%
5
5
95()ï
95()ï
95()
3LQ 62,& -HGHF µ
3,1 287 '(),1,7,216
3,1 12
1$0(
'(6&5,37,21
3,1 12
1$0(
'(6&5,37,21
'%
'DWD 2XWSXW %LW 95()
8SSHU 5HIHUHQFH 9ROWDJH
'%
'DWD 2XWSXW %LW 95()ï
/RZHU 5HIHUHQFH 9ROWDJH
'%
'DWD 2XWSXW %LW 95()ï
/RZHU 5HIHUHQFH 9ROWDJH
'%
'DWD 2XWSXW %LW 5
5HIHUHQFH /DGGHU 7DS # )6
'%
'DWD 2XWSXW %LW 5
5HIHUHQFH /DGGHU 7DS # )6
'*1'
'LJLWDO *URXQG
9,1
$QDORJ 6LJQDO ,QSXW
'9''
'LJLWDO 9''
$*1'
$QDORJ *URXQG
&/.
&ORFN ,QSXW
$9''
$QDORJ 9''
2(
2XWSXW (QDEOH $FWLYH /RZ
3'
3RZHU 'RZQ
'%
'DWD 2XWSXW %LW '%
'DWD 2XWSXW %LW /6%
'%
'DWD 2XWSXW %LW 06%
'%
'DWD 2XWSXW %LW 2):
2YHUIORZ 2XWSXW
'%
'DWD 2XWSXW %LW 5HY 03
(/(&75,&$/ &+$5$&7(5,67,&6 7$%/(
8QOHVV 2WKHUZLVH 6SHFLILHG $9 '9
9
$*1' 7 q&
9
''
5()
5()ï
''
9 )
0+] 'XW\ &\FOH
6
$
q&
3DUDPHWHU
6\PERO
0LQ
)6
7\S
0D[
8QLWV
7HVW &RQGLWLRQV&RPPHQWV
.(< )($785(6
5HVROXWLRQ
0D[LPXP 6DPSOLQJ 5DWH
%LWV
0+]
)RU 5DWHG 3HUIRUPDQFH
$&&85$&<
'LIIHUHQWLDO 1RQ/LQHDULW\
,QWHJUDO 1RQ/LQHDULW\
'1/
,1/
/6%
/6%
%HVW )LW /LQH
5HIHUHQFH IURP 95() WR 95()ï
0D[ ,1/ ï 0LQ ,1/
=HUR 6FDOH (UURU
(=6
/6%
)XOO 6FDOH (UURU
()6
ï
/6%
5()(5(1&( 92/7$*(6
3RVLWLYH 5HI 9ROWDJH
1HJDWLYH 5HI 9ROWDJH
'LIIHUHQWLDO 5HI 9ROWDJH
/DGGHU 5HVLVWDQFH
/DGGHU 7HPS &RHIILFLHQW
/DGGHU 6ZLWFK 5HVLVWDQFH
/DGGHU 6ZLWFK 2II /HDNDJH
95()
95()ï
95()
5/
57&2
$*1'
,,/.*6:
$9''
$9''
9
9
9
:
SSPq&
:
Q$
$1$/2* ,1387
,QSXW %DQGZLGWK
,QSXW 9ROWDJH 5DQJH
,QSXW &DSDFLWDQFH
$SHUWXUH 'HOD\
9,1
&,1
W$3
95()ï
9,+
9,/
,,1
N+]
9
S)
QV
9
9
95()
/6% (UURU
',*,7$/ ,13876
/RJLFDO ´µ 9ROWDJH
/RJLFDO ´µ 9ROWDJH
/HDNDJH &XUUHQWV
&/.
3' 2( ,QWHUQDO 5HV WR '*1'
,QSXW &DSDFLWDQFH
&ORFN 7LPLQJ 6HH )LJXUH &ORFN 3HULRG
5LVH )DOO 7LPH
´+LJKµ 7LPH
´/RZµ 7LPH
ï
76
W5 W)
W%
W6
P$
P$
QV
QV
QV
QV
S)
)XQFWLRQDO
&287 S)
',*,7$/ 2873876
/RJLFDO ´µ 9ROWDJH
/RJLFDO ´µ 9ROWDJH
VWDWH /HDNDJH
'DWD +ROG 7LPH 6HH )LJXUH 'DWD 9DOLG 'HOD\
9,1 '*1' WR '9''
92+ '9''
92/
,2=
W+/'
W'/
5HY 9
9
P$
QV
QV
,/2$' P$
,/2$' P$
9287 WR 9''
03
(/(&75,&$/ &+$5$&7(5,67,&6 7$%/( &217·'
q&
3DUDPHWHU
6\PERO
0LQ
7\S
0D[
8QLWV
7HVW &RQGLWLRQV&RPPHQWV
&287 S)
',*,7$/ 2873876 &217·'
'DWD (QDEOH 'HOD\
'DWD VWDWH 'HOD\
&ORFN WR 3' 6HWXS 7LPH
&ORFN WR 3' +ROG 7LPH
3RZHU 'RZQ 'HOD\
3RZHU 8S 'HOD\
W'(1
QV
W'+=
QV
W&/.6
QV
W&/.+
QV
W3'
QV
W38
QV
32:(5 6833/,(6
3RZHU 'RZQ ,''
2SHUDWLQJ 9ROWDJH $9'' '9''
&XUUHQW $9'' '9''
,''2:1
9''
P$
9
,''
9,1
P$
9
1RWHV
*XDUDQWHHG 1RW WHVWHG
7HVWHU PHDVXUHV FRGH WUDQVLWLRQ YROWDJHV E\ GLWKHULQJ WKH YROWDJH RI WKH DQDORJ LQSXW 9,1 7KH GLIIHUHQFH EHWZHHQ WKH PHDVXUHG
FRGH ZLGWK DQG WKH LGHDO YDOXH 95() LV WKH '1/ HUURU VHH )LJXUH DQG )LJXUH 7KH ,1/ HUURU LV WKH PD[LPXP GLVWDQFH
LQ /6%V IURP WKH EHVW ILW OLQH WR DQ\ WUDQVLWLRQ YROWDJH 6HH )LJXUH 6HH 9,1 LQSXW HTXLYDOHQW FLUFXLW VHH )LJXUH &ORFN VSHFLILFDWLRQ WR PHHW DSHUWXUH VSHFLILFDWLRQ W$3 $FWXDO ULVHIDOO WLPH FDQ EH OHVV VWULQJHQW ZLWK QR ORVV RI DFFXUDF\
6SHFLILHG YDOXHV JXDUDQWHH IXQFWLRQDO GHYLFH 5HIHU WR RWKHU SDUDPHWHUV IRU DFFXUDF\
6\VWHP FDQ FORFN 03 ZLWK DQ\ GXW\ F\FOH DV ORQJ DV DOO WLPLQJ FRQGLWLRQV DUH PHW
,QSXW UDQJH ZKHUH LQSXW LV FRQYHUWHG FRUUHFWO\ LQWR ELQDU\ FRGH ,QSXW YROWDJH RXWVLGH VSHFLILHG UDQJH FRQYHUWV WR ]HUR RU IXOO VFDOH
RXWSXW
'9'' DQG $9'' DUH FRQQHFWHG WKURXJK WKH VLOLFRQ VXEVWUDWH &RQQHFW WRJHWKHU DW WKH SDFNDJH
6SHFLILFDWLRQV DUH VXEMHFW WR FKDQJH ZLWKRXW QRWLFH
$
$%62/87( 0$;,080 5$7,1*6 7
q& XQOHVV RWKHUZLVH QRWHG 9 WR *1' 9
9
9
*1' ï WR 9 9
9 *1' ï WR 9 9
$OO ,QSXWV *1' ï WR 9 9
$OO 2XWSXWV *1' ï WR 9 9
6WRUDJH 7HPSHUDWXUH ï WR q&
/HDG 7HPSHUDWXUH 6ROGHULQJ VHFRQGV q&
3DFNDJH 3RZHU 'LVVLSDWLRQ 5DWLQJ WR q&
&',3 3',3 62,& P:
'HUDWHV DERYH q& P:q&
''
5()
5()ï
,1
''
''
''
''
1RWHV
6WUHVVHV DERYH WKRVH OLVWHG XQGHU ´$EVROXWH 0D[LPXP 5DWLQJVµ PD\ FDXVH SHUPDQHQW GDPDJH WR WKH GHYLFH 7KLV LV D
VWUHVV UDWLQJ RQO\ DQG IXQFWLRQDO RSHUDWLRQ DW RU DERYH WKLV VSHFLILFDWLRQ LV QRW LPSOLHG ([SRVXUH WR PD[LPXP UDWLQJ
FRQGLWLRQV IRU H[WHQGHG SHULRGV PD\ DIIHFW GHYLFH UHOLDELOLW\
$Q\ LQSXW SLQ ZKLFK FDQ VHH D YDOXH RXWVLGH WKH DEVROXWH PD[LPXP UDWLQJV VKRXOG EH SURWHFWHG E\ 6FKRWWN\ GLRGH FODPSV
+3 IURP LQSXW SLQ WR WKH VXSSOLHV $OO LQSXWV KDYH SURWHFWLRQ GLRGHV ZKLFK ZLOO SURWHFW WKH GHYLFH IURP VKRUW
WUDQVLHQWV RXWVLGH WKH VXSSOLHV RI OHVV WKDQ P$ IRU OHVV WKDQ 9'' UHIHUV WR $9'' DQG '9'' *1' UHIHUV WR $*1' DQG '*1'
5HY PV
03
W
W
6
5
W
W
%
)
ZKHQ
9
&/2&.
9
6$03/(
1ï
$872
%$/$1&(
6$03/(
1
I6 GLVFRQQHFWV WKH ODWFKHV IURP WKH FRPSDUDWRUV 7KLV GH
OD\ LV FDOOHG DSHUWXUH GHOD\ W
$872
%$/$1&(
,+
7KH FRDUVH FRPSDUDWRUV PDNH WKH ILUVW SDVV FRQYHUVLRQ DQG
,/
VHOHFW D ODGGHU UDQJH IRU WKH ILQH FRPSDUDWRUV 7KH ILQH FRPSD
UDWRUV DUH FRQQHFWHG WR WKH VHOHFWHG UDQJH GXULQJ WKH QH[W
6$03/(
1
I%
I6
,1387
9,1
9
2+
9
2/
'$7$
I%
SKDVH
76
$1$/2*
$3
I6
/DWFK
97$3
1
5HI
/DGGHU
'/
W+/'
W
&2$56( &203$5$725
I%
I6
I6
9,1
)LJXUH 03 7LPLQJ 'LDJUDP
I%
/DWFK
97$3
7+(25< 2) 23(5$7,21
6HOHFWHG
5DQJH
$QDORJWR'LJLWDO &RQYHUVLRQ
),1( &203$5$725
I%
)LJXUH 03 &RPSDUDWRUV
7KH
03
FRQYHUWV
DQDORJ
YROWDJHV
LQWR
GLJLWDO
FRGHV E\ HQFRGLQJ WKH RXWSXWV RI FRDUVH DQG ILQH FRPSD
UDWRUV 'LJLWDO ORJLF LV XVHG WR JHQHUDWH WKH RYHUIORZ ELW 7KH FRQ
$,1 6DPSOLQJ /DGGHU 6DPSOLQJ DQG &RQYHUVLRQ 7LPLQJ
YHUVLRQ LV V\QFKURQRXV ZLWK WKH FORFN DQG LV DFFRPSOLVKHG LQ )LJXUH VKRZV WKLV UHODWLRQVKLS DV D WLPLQJ FKDUW
FORFN SHULRGV
7KH UHIHUHQFH UHVLVWDQFH ODGGHU LV D VHULHV RI UHVLVWRUV
5
95()
95() ï 95()ï
I6
&/. ORZ
VDPSOH UHIHUHQFHG IRU ERWK ODVW $
/6%
I% &/.
7KH FORFN VLJQDO JHQHUDWHV WKH WZR LQWHUQDO SKDVHV
KLJK DQG
,1 WLPH SRLQW 7KH ODGGHU LV
,1 VDPSOH DQG QH[W $,1 VDPSOH DW WKH
QHHG WR FKDQJH IRU HDFK VDPSOHG $
WKH RWKHUV VR WKDW WKH IROORZLQJ UHODWLRQV DSSO\
,1 VDP
IRU WKH JHQHUDO FDVH ZKHUH WKH OHYHOV ZKLFK GULYH WKH ODGGHU
7KH ILUVW DQG WKH ODVW UHVLVWRU RI WKH ODGGHU DUH KDOI WKH YDOXH RI
55()
$
SOLQJ ODGGHU VDPSOLQJ DQG RXWSXW GDWD UHODWLRQVKLSV DUH VKRZQ
6HH )LJXUH VDPH WLPH ,I WKH ODGGHU·V OHYHOV FKDQJH E\ PRUH WKDQ /6%
RQH RI WKH VDPSOHV PXVW EH GLVFDUGHG $OVR QRWH WKDW WKH FORFN
7KH ULVLQJ
HGJH RI WKH &/. LQSXW PDUNV WKH HQG RI WKH VDPSOLQJ SKDVH ORZ SHULRG IRU WKH GLVFDUGHG $
I6
W
6 WLPH RI QV
,1 FDQ EH UHGXFHG WR WKH PLQLPXP
,QWHUQDO GHOD\ RI WKH FORFN FLUFXLWU\ ZLOO GHOD\ WKH DFWXDO LQVWDQW
+ROG 5HIHUHQFH 9DOXH 3DVW
6KRUW &\FOH 6DPSOH ZLOO EH GLVFDUGHG
&ORFN &KDQJH IRU W
W6
([WHUQDO
6HWWOH E\ &ORFN 8SGDWH 7LPH
5HIHUHQFH 6WDEOH 7LPH ï )RU 6DPSOH $,1
8SGDWH
5HIHUHQFH 6WDEOH 7LPH ï )RU 6DPSOH $,1
5HIHUHQFHV
&ORFN
,QWHUQDO
/DGGHU 6DPSOH
:LQGRZ 06% %DQN
/DGGHU &RPSDUH
/6% %DQN
([WHUQDO
'$7$
…6
…%
,1 6DPSOH
$
:LQGRZ
$,1;
6DPSOH $,1
$,1;
…%
1RW 8VHG
6DPSOH $,1
…6
6DPSOH $,1
…6
…%
$,1;
6DPSOH $,1
6DPSOH /DGGHU
6DPSOH /DGGHU
6DPSOH /DGGHU
6DPSOH /DGGHU
IRU $,1
IRU $,1;
IRU $,1
IRU $,1;
&RPSDUH /DGGHU
&RPSDUH /DGGHU
&RPSDUH /DGGHU
&RPSDUH /DGGHU
96 $,1;
96 $,1
96 $,1;
96 $,1
'$7$ $,1
'$7$ $,1;
'$7$ $,1
1RW 8VHG
)LJXUH $
,1 6DPSOLQJ /DGGHU 6DPSOLQJ &RQYHUVLRQ 7LPLQJ
5HY '$7$ $,1;
1RW 8VHG
$3 7LPH
03
$FFXUDF\ RI &RQYHUVLRQ '1/ DQG ,1/
'1/
/6%
91
7KH WUDQVIHU IXQFWLRQ IRU DQ LGHDO $' FRQYHUWHU LV VKRZQ LQ
$QDORJ
)LJXUH ,QSXW
91
',*,7$/
1 &2'(6
/6%
2XWSXW
/6%
1
&RGHV
1 ï
2):
/6%
2):
1 &RGH :LGWK
/6%
))
'1/
)(
)'
91 ï 91
> 95() ï 95()ï @ 1
> 91 ï 91 @ ï /6%
/6%
)LJXUH '1/ 0HDVXUHPHQW
9
95()ï 9
9
9)(
9))
2Q 3URGXFWLRQ 7HVWHU
9): 95()
)LJXUH ,GHDO $' 7UDQVIHU )XQFWLRQ
7KH IRUPXODV IRU 'LIIHUHQWLDO 1RQOLQHDULW\ '1/ ,QWHJUDO
1RQ/LQHDULW\ ,1/ DQG ]HUR DQG IXOO VFDOH HUURUV ( =6 ()6 DUH
7KH RYHUIORZ WUDQVLWLRQ 92): WDNHV SODFH DW
92):
9,1
95() ï '1/ /6%
7KH ILUVW DQG WKH ODVW WUDQVLWLRQV IRU WKH GDWD ELWV WDNH SODFH DW
9,1
9
9,1
9))
/6%
95()ï 95() ï 95() 9 ï 9 ï /6%
9)) ï 9)( ï /6%
'1/ )(
/6%
()6 IXOO VFDOH HUURU
/6%
(=6 ]HUR VFDOH HUURU
9)) ï 9 9)) ï >95() ï
/6%@
9 ï >95()ï /6%@
',*,7$/
&2'(6
1RWH WKDW WKH RYHUIORZ WUDQVLWLRQ LV D IODJ DQG KDV QR LPSDFW RQ
WKH GDWD ELWV
,Q D ´UHDOµ FRQYHUWHU WKH FRGHWRFRGH WUDQVLWLRQV GRQ·W IDOO
/6%
(=6
H[DFWO\ HYHU\ 95() YROWV
/6%
()6
))
$ SRVLWLYH '1/ 'LIIHUHQWLDO 1RQ/LQHDULW\ HUURU PHDQV WKDW
WKH UHDO ZLGWK RI D SDUWLFXODU FRGH LV ODUJHU WKDQ /6% 7KLV HUURU
)(
LV PHDVXUHG LQ IUDFWLRQV RI /6%·V
9
$ 0D[ '1/ VSHFLILFDWLRQ JXDUDQWHHV WKDW $// FRGH ZLGWKV
95()ï
'1/ HUURUV DUH ZLWKLQ WKH VWDWHG YDOXH $ VSHFLILFDWLRQ RI 0D[
'1/
/6% PHDQV WKDW DOO FRGH ZLGWKV DUH ZLWKLQ DQG
/6% ,I 95()
9 WKHQ /6%
9
9
9)(
9))
95()
)LJXUH 5HDO $' 7UDQVIHU &XUYH
P9 DQG HYHU\ FRGH
)LJXUH VKRZV WKH ]HUR VFDOH DQG IXOO VFDOH HUURU WHUPV
ZLGWK LV ZLWKLQ DQG P9
5HY 03
)LJXUH JLYHV D YLVXDO GHILQLWLRQ RI WKH ,1/
HUURU 7KH FKDUW
VKRZV D %LW FRQYHUWHU WUDQVIHU FXUYH ZLWK JUHDWO\ H[DJJHUDWHG
&/2&.
'1/ HUURUV WR VKRZ WKH GHYLDWLRQ RI WKH UHDO WUDQVIHU FXUYH IURP
1
1
'$7$
WKH LGHDO RQH
1
1
D &RQWLQXRXV VDPSOLQJ
$IWHU D WHVWHU KDV PHDVXUHG DOO WKH WUDQVLWLRQ YROWDJHV WKH
FRPSXWHU GUDZV D OLQH SDUDOOHO WR WKH LGHDO WUDQVIHU OLQH %\ GHIL
HTXDO WKH SRVLWLYH DQG WKH QHJD
WLYH ,1/ HUURUV )RU H[DPSOH DQ ,1/ HUURU RI ï WR /6%V UHOD
WLYH WR WKH ,GHDO /LQH ZRXOG EH /6%·V UHODWLYH WR WKH %HVW )LW
/LQH
QLWLRQ WKH %HVW )LW /LQH PDNHV
&/2&.
1
%$/$1&(
'$7$
1
E 6LQJOH VDPSOLQJ
)LJXUH 5HODWLRQVKLS RI 'DWD WR &ORFN
2XWSXW
&RGHV
$QDORJ ,QSXW
%HVW )LW /LQH
7KH 03 KDV YHU\ IOH[LEOH LQSXW UDQJH FKDUDFWHULVWLFV
7KH XVHU PD\ VHW 95() DQG 95()ï WR WZR IL[HG YROWDJHV DQG
WKHQ YDU\ WKH LQSXW '& DQG $& OHYHOV WR PDWFK WKH 95() UDQJH
$QRWKHU PHWKRG LV WR ILUVW GHVLJQ WKH DQDORJ LQSXW FLUFXLWU\ DQG
WKHQ DGMXVW WKH UHIHUHQFH YROWDJHV IRU WKH DQDORJ LQSXW UDQJH
2QH DGYDQWDJH LV WKDW WKLV DSSURDFK PD\ HOLPLQDWH WKH QHHG IRU
H[WHUQDO JDLQ DQG RIIVHW DGMXVW FLUFXLWU\ ZKLFK PD\ EH UHTXLUHG
E\ IL[HG LQSXW UDQJH $'V
7KH 03·V SHUIRUPDQFH LV RSWLPL]HG E\ XVLQJ DQDORJ LQ
SXW FLUFXLWU\ WKDW LV FDSDEOH RI GULYLQJ WKH $,1 LQSXW )LJXUH VKRZV WKH HTXLYDOHQW FLUFXLW IRU $,1
5HDO 7UDQVIHU /LQH
()6
,1/
,GHDO 7UDQVIHU /LQH
/6%
$9''
(=6
:
S)
I6
$QDORJ ,QSXW 9ROW
:
S)
9,1
)LJXUH ,1/ (UURU &DOFXODWLRQ
I6
S)
:
I%
S)
> 95()
95()ï @
)LJXUH $QDORJ ,QSXW (TXLYDOHQW &LUFXLW
&ORFN DQG &RQYHUVLRQ 7LPLQJ
5HIHUHQFH 9ROWDJHV
$ V\VWHP ZLOO FORFN WKH 03 FRQWLQXRXVO\ RU LW ZLOO JLYH
FORFN SXOVHV LQWHUPLWWHQWO\ ZKHQ D FRQYHUVLRQ LV GHVLUHG 7KH
WLPLQJ RI )LJXUH D VKRZV QRUPDO RSHUDWLRQ ZKLOH WKH WLPLQJ RI
)LJXUH E NHHSV WKH 03 LQ EDODQFH DQG UHDG\ WR VDPSOH WKH
DQDORJ LQSXW
5HY 7KH LQSXWRXWSXW UHODWLRQVKLS LV D IXQFWLRQ RI 9 5()
$,1
95()
'$7$
9,1 ï 95()ï
95() ï 95()ï
$,195()
$ V\VWHP FDQ LQFUHDVH WRWDO JDLQ E\ UHGXFLQJ 9 5()
03
)LJXUH VKRZV WKH SUHIHUUHG RXWSXW FRQWURO ZKHUH 2( DQG
'LJLWDO ,QWHUIDFHV
FORFN DUH RSSRVLWH SKDVH 7KLV SURYLGHV D TXLHW WLPH DW WKH HQG
7KH ORJLF HQFRGHV WKH RXWSXWV RI WKH FRPSDUDWRUV LQWR D EL
RI WKH $
,1 VDPSOH SKDVH
QDU\ FRGH DQG ODWFKHV WKH GDWD LQ D 'W\SH IOLSIORS IRU RXWSXW
7KH IXQFWLRQDO HTXLYDOHQW RI WKH 03 7KH LQSXW 2( FRQWUROV WKH RXWSXW EXIIHUV LQ DQ DV\QFKURQRXV
)LJXUH LV FRP
SRVHG RI
PRGH
2(
2):
9DOLG
9DOLG
'% ï '%
'HOD\ VWDJH W
+LJK =
9DOLG
$Q LGHDO DQDORJ VZLWFK ZKLFK VDPSOHV 9
$Q LGHDO $' ZKLFK WUDFNV DQG FRQYHUWV 9
$ VHULHV RI WZR '))·V ZLWK VSHFLILHG KROG W
GHOD\ W
'/
+/' DQG
WLPHV
$3 W+/' DQG W'/ DUH VSHFLILHG LQ WKH (OHFWULFDO &KDUDFWHULVWLFV
WDEOH
9,+
9,/
I
6
$'
9,1
W'(1
2):
,1
,1 ZLWK QR
GHOD\
W
'%'% '$7$
$3 IURP WKH FORFN WR WKH VDPSOLQJ SKDVH
7DEOH 2XWSXW (QDEOH /RJLF
2(
I6
W'+=
' 4
' 4
'%'%
W$3
03
'$7$
&/.
2YHUIORZ 6WDWH
&/.
1
9,1
1
W+/'
W'/
)LJXUH 2XWSXW (QDEOH'LVDEOH 7LPLQJ 'LDJUDP
'%'%
1
1
&ORFN
)LJXUH 03 )XQFWLRQDO (TXLYDOHQW
&LUFXLW DQG ,QWHUIDFH 7LPLQJ
2(
'%'%
'$7$
'$7$
3RZHU 'RZQ
)LJXUH 3UHIHUUHG 2XWSXW &RQWURO
$
5HY )LJXUH VKRZV WKH UHODWLRQVKLS EHWZHHQ WKH FORFN VDPSOHG
,1 WR RXWSXW GDWD UHODWLRQVKLS DQG WKH HIIHFW RI SRZHU GRZQ
03
&/.
6$03/(
1
6$03/(
0
6$03/(
0
9,1
'%'%
1 9DOLG
1 9DOLG
1 9DOLG
W&/.6
0 9DOLG
W&/.+
3'
W3'
W38
,'' ,95()
)LJXUH 3RZHU 'RZQ 7LPLQJ 'LDJUDP
5HY 03
$33/,&$7,21 127(6
P
&
RU ) 7DQWDOXP
&
) &KLS &DS RU ORZ LQGXFWDQFH FDS
57
&ORFN 7UDQVPLVVLRQ /LQH 7HUPLQDWLRQ
P
9
{
=
$
:
'
&' &'
&$ &$
$9''
9,1
$,1
'9''
2):
6XEVWUDWH
'% '%
%XIIHU
5HVLVWLYH
LVRODWLRQ
03
RI WR
:
2(
95()
5HIHUHQFH
&
9ROWDJH
&
6RXUFH
)LJXUH ([DPSOH
ï
&
&
&/.
5
&
57
5
&
95()ï
95()ï
$*1'
'*1'
)LJXUH 7\SLFDO &LUFXLW &RQQHFWLRQV
7KH IROORZLQJ LQIRUPDWLRQ ZLOO EH XVHIXO LQ PD[LPL]LQJ WKH SHU
VKLHOG IRU SDUDVLWLFV DQG QRW D UHWXUQ SDWK IRU VLJQDOV 7R UH
GXFH QRLVH OHYHOV XVH VHSDUDWH ORZ LPSHGDQFH JURXQG
IRUPDQFH RI WKH 03
$OO VLJQDOV VKRXOG QRW H[FHHG $9
RU '9
SDWKV
'' 9 RU $*1' ï 9
'' 9 RU '*1' ï 9
'*1' VKRXOG EH FRQQHFWHG WR $*1' QH[W WR WKH 03
$Q\ LQSXW SLQ ZKLFK FDQ VHH D YDOXH RXWVLGH WKH DEVROXWH
PD[LPXP UDWLQJV $9
'' RU '9'' 9 RU $*1' ï 9
'9
LQSXW SLQ WR WKH VXSSOLHV $OO 03 LQSXWV KDYH LQSXW SUR
7KH GHVLJQ RI D 3& ERDUG ZLOO DIIHFW WKH DFFXUDF\ RI 03
7KH DQDORJ LQSXW VLJQDO 9
'' DQG $9'' DUH FRQQHFWHG
EHWZHHQ '9
,1 LV TXLWH VHQVLWLYH DQG VKRXOG EH
WKH FORFN DQG GLJLWDO RXWSXWV VR DV WR PLQLPL]H FURVV FRXSOLQJ
DQG QRLVH SLFNXS
LQVLGH WKH 03 WKURXJK
''
DQG $9
''
ZLOO FDXVH XQGHVLUDEOH LQWHUQDO
(DFK SRZHU VXSSO\ DQG UHIHUHQFH YROWDJH SLQ VKRXOG EH
GHFRXSOHG ZLWK D FHUDPLF P) DQG D WDQWDOXP P) FD
SDFLWRU DV FORVH WR WKH GHYLFH DV SRVVLEOH
7KH GLJLWDO RXWSXW VKRXOG QRW GULYH ORQJ ZLUHV 7KH FDSDFLWLYH
7KH DQDORJ LQSXW VKRXOG EH GULYHQ E\ D ORZ LPSHGDQFH OHVV
FRXSOLQJ DQG UHIOHFWLRQ ZLOO FRQWULEXWH QRLVH WR WKH FRQYHU
WKDQ :
'9
FXUUHQWV
SURSHUO\ URXWHG DQG WHUPLQDWHG ,W VKRXOG EH VKLHOGHG IURP
'' IRU WKH 03 VKRXOG EH FRQQHFWHG WR $9'' QH[W WR
WKH 1 ï GRSHG VLOLFRQ VXEVWUDWH $Q\ '& YROWDJH GLIIHUHQFH
8VH RI ZLUH ZUDS LV QRW UHFRPPHQGHG
VKRXOG QRW EH VKDUHG ZLWK RWKHU GLJLWDO FLUFXLWU\ WR
WKH 03
WHFWLRQ GLRGHV ZKLFK ZLOO SURWHFW WKH GHYLFH IURP VKRUW WUDQ
VLHQWV RXWVLGH WKH VXSSO\ UDQJHV
''
'9
DYRLG FRQYHUVLRQ HUURUV FDXVHG E\ GLJLWDO VXSSO\ WUDQVLHQWV
VKRXOG EH SURWHFWHG E\ GLRGH FODPSV +3 IURP
'*1' VKRXOG QRW EH VKDUHG ZLWK RWKHU GLJLWDO FLU
FXLWU\ ,I VHSDUDWH ORZ LPSHGDQFH SDWKV FDQQRW EH SURYLGHG
VLRQ
:KHQ GULYLQJ GLVWDQW ORDGV EXIIHUV VKRXOG EH XVHG
$QDORJ DQG GLJLWDO JURXQG SODQHV VKRXOG EH VXEVWDQWLDO DQG
: UHVLVWRUV LQ VHULHV ZLWK WKH GLJLWDO RXWSXWV LQ VRPH DS
FRPPRQ DW RQH SRLQW RQO\ 7KH JURXQG SODQH VKRXOG DFW DV D
SOLFDWLRQV UHGXFHV WKH GLJLWDO RXWSXW GLVUXSWLRQ RI $
5HY ,1
03
9
Nˆ
P)
ï
03
N
ï
)LJXUH ([DPSOH RI D 5HIHUHQFH 9ROWDJH 6RXUFH
9
p 9
5
9
5
95()
$9''
9,1
'%
$,1
ï
95()ï
$*1'
)RU 5 N XVH %HFNPDQ ,QVWUXPHQWV 5N UHVLVWRU DUUD\ RU HTXLYDOHQW
127( +LJK 5 YDOXHV DIIHFW WKH LQSXW %: RI $'& GXH WR WKH 5 &,1 RI $'& WLPH FRQVWDQW 7KHUHIRUH IRU GLIIHUHQW
DSSOLFDWLRQV WKH 5 YDOXH QHHGV WR EH VHOHFWHG DV D WUDGHRII EHWZHHQ $,1 VHWWOLQJ WLPH DQG SRZHU GLVVLSDWLRQ
)LJXUH r 9 $QDORJ ,QSXW
9
p 9
5
9
5
95()
$9''
9,1
ï
'%
$,1
5
95()ï
$*1'
)RU 5 N XVH %HFNPDQ ,QVWUXPHQWV 5N UHVLVWRU DUUD\ RU HTXLYDOHQW
127( +LJK 5 YDOXHV DIIHFW WKH LQSXW %: RI $'& GXH WR WKH 5 &,1 RI $'& WLPH FRQVWDQW 7KHUHIRUH IRU GLIIHUHQW
DSSOLFDWLRQV WKH 5 YDOXH QHHGV WR EH VHOHFWHG DV D WUDGHRII EHWZHHQ $,1 VHWWOLQJ WLPH DQG SRZHU GLVVLSDWLRQ
)LJXUH r 9 $QDORJ ,QSXW
5HY 03
ˆ
03
9,1
ï
'$&
95()
'$&
5
'$&
5
95()
'$&
'$&V 03
95()ï
RU 03
# 3RZHU 'RZQ ZULWH YDOXHV WR '$& '$& WR PLQLPL]H SRZHU FRQVXPSWLRQ
2QO\ $,1 DQG /DGGHU GHWDLO VKRZQ
)LJXUH $' /DGGHU ZLWK 3URJUDPPHG &RQWURO
RI 95() 95()ï DQG 7$3
5HY 03
3(5)250$1&( &+$5$&7(5,67,&6
*UDSK '1/ YV 6DPSOLQJ )UHTXHQF\
*UDSK ,1/ YV 6DPSOLQJ )UHTXHQF\
*UDSK 6XSSO\ &XUUHQW YV
*UDSK 3RZHU 'RZQ &XUUHQW YV
6DPSOLQJ )UHTXHQF\
6DPSOLQJ )UHTXHQF\
9UHI
*UDSK '1/ YV 5HIHUHQFH 9ROWDJH
*UDSK '1/ YV 7HPSHUDWXUH
5HY 03
*UDSK 6XSSO\ &XUUHQW YV
*UDSK 3RZHU 'RZQ &XUUHQW YV
7HPSHUDWXUH
7HPSHUDWXUH
*UDSK 5HIHUHQFH 5HVLVWDQFH YV
7HPSHUDWXUH
5HY