3+21,&&25325$7,21+HOL[%RDUG8VHU¶V0DQXDO3DJH
&KDQQHO&RQWUROV
/RZ&XW)LOWHU+]
7KLVEXWWRQORFDWHGRQFKDQQHOV
WKURXJKWRZLOODFWLYDWHDORZ
FXWKLJKSDVV¿OWHUWKDWUHGXFHV
DOOIUHTXHQFLHVEHORZ+]DW
G%SHU2FWDYHKHOSLQJWRUHPRYH
DQ\ XQZDQWHG JURXQG QRLVH RU
VWDJHUXPEOH
/LQH0LF*DLQ&RQWURO
7KLV FRQWUROV WKH VHQVLWLYLW\ RI
WKH LQSXW VLJQDO RI WKH /LQH
0LFURSKRQHLQSXW7KHJDLQVKRXOG
EHDGMXVWHGWRDOHYHOWKDWDOORZV
WKHPD[LPXPXVHRIWKHDXGLRZKLOHVWLOOPDLQWDLQLQJWKH
TXDOLW\RIWKHIHHG7KLVFDQEHDFFRPSOLVKHGE\DGMXVWLQJ
LWWRDOHYHOWKDWZLOODOORZWKHSHDNLQGLFDWRURFFDVLRQDOO\
LOOXPLQDWH$OOPRQRFKDQQHOVRQWKH+HOL[%RDUG
IHDWXUHWKLVFRQWURO
+LJK)UHTXHQF\&RQWURO
7KLVFRQWUROLVXVHGWRJLYHDVKHOYLQJERRVWRUFXWRI
G%WRKLJKIUHTXHQF\N+]VRXQGV7KLVZLOODGMXVW
WKHDPRXQWRIWUHEOHLQFOXGHGLQWKHDXGLRRIWKHFKDQQHO
DGGLQJVWUHQJWKDQGFULVSQHVVWRVRXQGVVXFKDVJXLWDUV
F\PEDOVDQGV\QWKHVL]HUV
0LGGOH)UHTXHQF\&RQWURO
7KLV FRQWURO LV XVHG WR SURYLGH
DSHDNLQJVW\OHRIERRVWDQGFXW
WRWKHOHYHORIPLGGOHIUHTXHQF\
N+] VRXQGV DW D UDQJH
RI G% &KDQJLQJ PLGGOH
IUHTXHQFLHV RI DQ DXGLR IHHG
FDQEHUDWKHUGLI¿FXOWZKHQXVHG
LQ D SURIHVVLRQDO DXGLR PL[ DV
LW LV XVXDOO\ PRUH GHVLUDEOH WR
FXW PLGGOH IUHTXHQF\ VRXQGV
UDWKHUWKDQERRVWWKHPWKHUHE\
VRRWKLQJRYHUO\KDUVKYRFDODQG
LQVWUXPHQWVRXQGVLQWKHDXGLR
/RZ)UHTXHQF\&RQWURO
7KLV FRQWURO LV XVHG WR JLYH D
VKHOYLQJERRVWRUFXWRI G%
WRORZIUHTXHQF\+]VRXQGV
7KLV ZLOO DGMXVW WKH DPRXQW RI
EDVVLQFOXGHGLQWKHDXGLRRIWKH
FKDQQHODQGEULQJPRUHZDUPWK
DQG SXQFK WR GUXPV DQG EDVV
JXLWDUV
$8;0RQLWRU&RQWURO
7KLV FRQWURO DOORZV WKH XVHU WR
VHQG WKH FRUUHVSRQGLQJ VLJQDO
WRWKH$8; RXWSXWZKLFK FDQ
EH XVHG LQ FRQMXQFWLRQ ZLWK DQ
DPSOLILHU DQG VWXGLR RU VWDJH
PRQLWRUVRUVLPSO\DVDQDX[LOLDU\RXWSXWIRUDQ\PHDQV
UHTXLUHG7KHFRQWUROLVSUHIDGHUWKHUHIRUHDQ\FKDQJHV
PDGHWRWKHFRUUHVSRQGLQJFKDQQHOOHYHOFRQWUROGRQRW
DIIHFWWKH$8;VHQGVLJQDO
$8;(IIHFWV&RQWURO
7KLVFRQWURODOWHUVWKHVLJQDOOHYHOWKDWLVVHQWWRWKH$8;
RU();VHQGRXWSXWZKLFKFDQEHXVHGLQFRQMXQFWLRQ
ZLWKH[WHUQDOVLJQDOSURFHVVRUVWKLVVLJQDORIZKLFKFDQ
EH UHWXUQHG WR PL[HU YLD WKH$8; UHWXUQ LQSXW RU DQ\
VWHUHRLQSXWFKDQQHORUVLPSO\DVDQDX[LOLDU\RXWSXWIRU
DQ\PHDQVUHTXLUHG7KLVFRQWUROLVSRVWIDGHUWKHUHIRUH
DQ\FKDQJHVPDGHWRWKHFRUUHVSRQGLQJFKDQQHOOHYHO
FRQWURODUHDOVRDSSOLHGWRWKH();VLJQDO7KHVLJQDOLV
DOVRVHQWWRWKHLQWHUQDO();SURFHVVRU,IWKHSHDN/('
RIWKH();SURFHVVRULOOXPLQDWHVRQHRUPRUHRIWKH$8;
FRQWUROVVKRXOGEHDGMXVWHGWRHQVXUHWKLV/('GRHV
QRWFRPHRQ
3DQ%DODQFH&RQWUROV
7KLVDOWHUQDWHVWKHGHJUHHRUOHYHORIDXGLRWKDWWKHOHIW
DQGULJKWVLGHRIWKHPDLQPL[VKRXOGUHFHLYH2QPRQR
FKDQQHOVWKLVFRQWUROZLOODGMXVWWKHOHYHOWKDWWKHOHIWDQG
ULJKWVKRXOGUHFHLYHSDQZKHUHDVRQDVWHUHRFKDQQHO
DGMXVWLQJWKH%$/FRQWUROZLOODWWHQXDWHWKHOHIWRUULJKW
DXGLRVLJQDOVDFFRUGLQJO\EDODQFH
0XWH$/7
7KLVKDQG\OLWWOHEXWWRQLVEDVLFDOO\DW\SLFDOPXWHEXWWRQ
±HIIHFWLYHO\VWRSSLQJDQ\VLJQDOUHFHLYHGE\WKHFKDQQHO
IURPEHLQJVHQWWRWKH0DLQ/5PL[LQJEXV±KRZHYHU
LW GRHV VR PXFK PRUH 3XVKLQJ WKLVEXWWRQURXWHV WKH
FKDQQHO¶VVLJQDODZD\IURPWKH0DLQ/5DQGWRLWVRZQ
³$OWHUQDWLYH´VWHUHRRXWSXWZKHUHWKHVLJQDOFDQEHXVHG
DWZLOO,I\RXZLVKWRXVHLWWRFRQQHFWDQDPSOL¿HUDQG
VSHDNHUVRUVLPSO\SDWFKLWWKURXJKWRDQXQXVHGLQSXW
FKDQQHO\RXFDQHDVLO\GRVR3UHVVLQJWKLVEXWWRQRQ
DQ\FKDQQHOKRZHYHUGRHVQRWPXWHWKH$8;RXWSXW
RIWKDWFKDQQHO
3HDN,QGLFDWRU
7KLV/('LQGLFDWRUZLOOLOOXPLQDWHZKHQWKHGHYLFHKLWV
KLJKSHDNVG%EHIRUHRYHUORDG RFFXUV ,W LV EHVW WR
DGMXVWWKHJDLQRIWKHFKDQQHOVRWKDWWKH3($.LQGLFDWRU
OLJKWV XS RQ LQWHUYDOV RQO\ 7KLV ZLOO HQVXUH D JUHDWHU
G\QDPLFUDQJHRIDXGLR
/HYHO&RQWURO
7KLVURWDU\FRQWUROZLOODOWHUWKHVLJQDOOHYHOWKDWLVVHQW
IURP WKH FRUUHVSRQGLQJ FKDQQHO WR WKH PDLQ PL[LQJ
EXV
6ZLWFK
7KLV EXWWRQ ORFDWHG
RQ ERWK VWHUHR LQSXW
FKDQQHOVLVXVHGDGMXVW
WKH LQSXW VHQVLWLYLW\
RI WKH FRUUHVSRQGLQJ
FKDQQHOV ZKLFK ZLOO
DGDSW WKH +HOL[ %RDUG
WR H[WHUQDO GHYLFHV
ZKLFK PD\ XVH GLIIHUHQWRSHUDWLQJ OHYHOV ,I WKH LQSXW
VRXUFHLVG%9FRQVXPHUDXGLROHYHOLWLVEHVWWR
HQJDJHWKHVZLWFKDOORZLQJWKHVLJQDOWREHKHDUG7KH
G%XOHYHOLVVXLWDEOHIRU3URIHVVLRQDO$XGLRVLJQDOV
ZKLFKDUHFRQVLGHUDEO\KLJKHUWKDQWKHFRQVXPHUOHYHO
+RZHYHULI\RXDUHXQVXUHRIWKHVRXUFH¶VRSHUDWLQJOHYHO
ZHVXJJHVWOHDYLQJWKHVZLWFKGLVHQJDJHGXQWLO\RXWHVW
WKHVRXUFH¶VVLJQDO<RXFDQWKHQHQJDJHLIQHFHVVDU\LI
WKHOHYHORIWKHLQSXWVLJQDOLVREYLRXVO\WRRORZ