DH 1st floor SR

More than half of the world's financial markets use a limit order book

mechanism to facilitate trade. For markets where trade is conducted

through a central counterparty, trading platforms disseminate the same

information about the limit order book to all market participants in

real time, and all market participants are able to trade with all

others. By contrast, in markets that operate under bilateral trade

agreements, market participants are only able to view the limit order

book activity from their bilateral trading partners, and are unable to

trade with the market participants with whom they do not possess a

bilateral trade agreement. In this talk, I discuss the implications

of such a market structure for price formation. I then introduce a

simple model of such a market, which is able to reproduce several

important empirical properties of traded price series. By identifying and

matching several robust moment conditions to the empirical data, I make

model-based inference about the network of bilateral trade partnerships

in the market. I discuss the implications of these findings for market

stability and suggest how the regulator might improve market conditions

by implementing simple restrictions on how market participants form their

bilateral trade agreements.

The aim of this lecture is to give a general introduction to

the interacting particle system and applications in finance, especially

in the pricing of American options. We survey the main techniques and

results on Snell envelope, and provide a general framework to analyse

these numerical methods. New algorithms are introduced and analysed

theoretically and numerically.

I will look at a toy model for an index in a large market. The aim is to

consider the pricing of volatility swaps on the index. This is very much

work in progress.

InSAR (Interferometric Synthetic Aperture Radar) is an important space geodetic technique (i.e. a technique that uses satellite data to obtain measurements of the Earth) of great interest to geophysicists monitoring slip along fault lines and other changes to shape of the Earth. InSAR works by using the difference in radar phase returns acquired at two different times to measure displacements of the Earth’s surface. Unfortunately, atmospheric noise and other problems mean that it can be difficult to use the InSAR data to obtain clear measurements of displacement.

Persistent Scatterer (PS) InSAR is a later adaptation of InSAR that uses statistical techniques to identify pixels within an InSAR image that are dominated by a single back scatterer, producing high amplitude and stable phase returns (Feretti et al. 2001, Hooper et al. 2004). PS InSAR has the advantage that it (hopefully) chooses the ‘better’ datapoints, but it has the disadvantage that it throws away a lot of the data that might have been available in the original InSAR signal.

InSAR and PS InSAR have typically been used in isolation to obtain slip-rates across faults, to understand the roles that faults play in regional tectonics, and to test models of continental deformation. But could they perhaps be combined? Or could PS InSAR be refined so that it doesn’t throw away as much of the original data? Or, perhaps, could the criteria used to determine what data are signal and what are noise be improved?

The key aim of this workshop is to describe and discuss the techniques and challenges associated with InSAR and PS InSAR (particularly the problem of atmospheric noise), and to look at possible methods for improvement, by combining InSAR and PS InSAR or by methods for making the choice of thresholds.

An overview will be given for several examples of fluid mechanical problems in developing household appliances, we discuss some examples of e.g. baby bottles, water treatment, irons, fruit juicers and focus on oral health care where a new air floss product will be discussed.