赫斯曼PriceList+2008
10383——精选推荐
(OB-2) STOCK OPTION Risk Array Calculator股票期權的風險陣列式孖展計算機This calculator is a computer program run under window to calculate stock option portfoliobased on the risk array parameter file provided by SEHK. This file is available via member trading terminal (TOPS system), or download from SEHK Web site.A user interface screen allow user to capture risk array file to the calculator. User can input option positions and view the status before calculation. After verification done, the calculator will printout the margin requirement together with the details of calculation.The report will show option positions first, and calculate Mark-to-Market Margin and Additional Margin for option positions and pending positions respectively. Finally, the report will show the total margin requirement. A markup factor (135%) which is also adjustable is applied to give the final margin requirement. This is an excellent tool for individual investor or A.E. to review their own portfolio or client’s portfolio.Attached is an ex ample of a client’s portfolio with both CHK & HKB stock option positions.The portfolio also include pending positions due to Exercise & Assign of option contracts.This example shows the difficulty to make calculation by hand.本系統是為客戶主任(AE)或個別投資人士而設的股票孖展計算機. 因為股票期權的風險計算,需要用到風險陣列表,若以人手計算,並非不可能,但會非常不便. 本系統採用視窗環境下運作的系統設計,可讀取由聯交所取得的Risk Array File,此檔期亦可在SEHK的網上下載,用以計算期權持倉組合的按金要求. 按金要求計算,會以期權持倉及等待交收的持倉(因行使或要履行責任)時的Additional孖展及Mart-to-Market孖展總和,再以可調節的倍數(1.35)計出應有的按金要求. 方便非常.EXAMPLE範例下頁為一計算期權孖展的例子,包括CHK及HKB股票期權, 其中更有因行使及履行要處理的孖展計算,此例說明以人為計算時的複雜性.OPTION POSITIONA)Marginable Positions. The objective is to identify what is to be margined.SERIES L S E A PR CURRT SERIES L S E A PR CURRTCHK HKBC DEC 5000 40 0 0 0 1.61 C JAN 22000 7 0 3 0 10.92C DEC 5500 100 0 0 0 0.05 C JAN 23000 0 88 0 0 6.88C JAN 6000 0 50 0 98 0.15 C FEB 220000 20 0 0 12.56C JAN 6500 35 0 15 0 0.03 C FEB 2400020 0 25 0 5.58C FEB 50000 120 0 0 1.92 P MAR 25000 0 30 0 15 8.54C MAR 60000 30 0 30 0.71 P MAR 26000 0 20 0 110 12.08P MAR 6500 -50 0 50 0 7.37 P JUN 22000 0 150 0 0 2.95P JUN 6500 0 50 0 0 5.46 P JUN 26000 -60 0 0 0 12.93B)Mark-to-Market Margin. This calculates liquidation value at current market levels.PP OPTIONTR UN VAL MK TO MKT SERIES UN CL PR E A SET PR TR UN VAL MK TO MKT SERIES UN CL PR E A SETPRCHK HKBC DEC 5000 55.5 -40 0 1.61 1000 (64,400.00) C JAN 22000 241 -7 0 10.92 400 (30,576.00)C DEC 5500 55.5 -100 0.05 1000 (5,000.00) C JAN 23000 241 0 88 6.88 400 242,176.00C JAN 6000 55.5 0 50 0.15 1000 7,500.00 C FEB 22000241 0 20 12.56 400 100,480.00C JAN 6500 55.5 -35 0 0.03 1000 (1,050.00) C FEB 24000241 -20 0 5.58 400 (44,640.00)C FEB 500055.5 0 120 1.92 1000 230,400.00 P MAR 25000 241 0 30 8.54 400 102,480.00C MAR 600055.5 0 30 0.71 1000 21,300.00 P MAR 26000 241 0 20 12.08 40096,640.00P MAR 6500 55.5 -50 0 7.37 1000 (368,500.00) P JUN 22000 241 0 150 2.95 400 177,000.00P JUN 6500 55.5 0 50 5.46 1000 273,000.00 P JUN 26000 241 -60 0 12.93 400 (310,320.00)TOTAL= 93,250.00 TOTAL= 333,240.00SUB TOTAL= 426,490.00Remark:-1.M ark-to-M arket=Long(-)/Short(+) x Settle Price x T rade Unit V alueC)Additional Margin. This identifies the risk in the event of the “worst-case” market movement.CURR VAL MIN PR STR PR STR PR STR PR MAX PR STR PR STR PR SERIES POS UNVALCHK 55.5 36.07 48 50 55 74.93 65 60C DEC 5000 40L 1000 (64,400.00) - - (607.48) (200,349.84) (997,549.84) (600,349.84) (400,349.84) C DEC 5500 100L 1000 (5,000.00) - - - (1,670.50) (1,993,962.00) (1,000,962.00) (500,962.00) C JAN 6000 50S 1000 7,500.00 - 1.40 35.55 5,629.85 762,203.35 271,223.00 76,469.95 C JAN 6500 35L 1000 (1,050.00) - (0.32) (7.39) (753.69) (361,068.93) (73,480.51) (13,453.62) C FEB 5000120S 1000 230,400.00 - - 63,713.16 663,684.00 3,055,284.00 1,863,684.00 1,263,684.00 C MAR 600030S 1000 21,300.00 - 349.14 1,373.97 16,826.16 476,774.88 189,363.21 76,469.88 P MAR 6500 50L 1000 (368,500.00) (1,446,500.00) (850,000.00) (750,000.00) (500,000.00) - (861.45) (250,000.00) P JUN 6500 50S 1000 273,000.00 1,446,500.00 850,000.00 750,000.00 500,000.00 - 1,051.75 250,000.00 TOTALS 93,250.00 - 350.22 64,507.81 483,365.98 941,681.46 649,668.16 501,858.37 VARIATION (93,250.00) (92,899.78) (28,742.19) 390,115.98 848,431.46 556,418.16 408,608.37Liquidating downside MAX= 390,115.98 Liquidating upside MAX= 848,431.46HKB 241 197.62 220.000 230.000 240.00 284.38 260.000 250.000C JAN 22000 7L 400 (30,576.00) - (3,243.76) (31,224.24) (59,224.24) (183,488.24) (115,224.24) (87,224.24)C JAN 23000 88S 400 242,176.00 - - 42,632.20 394,375.70 1,956,551.70 1,098,375.70 746,375.70C FEB 2200020S 400 100,480.00 - 18,689.19 98,680.64 178,680.64 533,720.64 338,680.64 258,680.64C FEB 2400020L 400 (44,640.00) - (468.02) (7,342.14) (39,678.81) (375,418.88) (180,541.75) (103,089.43)P MAR 25000 30S 400 102,480.00 628,560.00 360,000.00 240,000.00 120,000.00 - - 795.17P MAR 26000 20S 400 96,640.00 499,040.00 320,000.00 240,000.00 160,000.00 - 551.32 80,000.00P JUN 22000 150S 400 177,000.00 1,380,830.34 534,687.60 316,139.34 175,198.44 6,522.54 45,116.40 91,094.10P JUN 26000 60L 400 (310,320.00) (1,497,120.00) (960,000.00) (720,000.00) (480,000.00) - (1,760.52) (240,000.00)TOTALS 333,240.00 1,011,310.34 269,665.01 178,885.80 449,351.73 1,937,887.76 1,185,197.55 746,631.94VARIATION 678,070.34 (63,574.99) (154,354.20) 116,111.73 1,604,647.76 851,957.55 413,391.94Liquidating downside MAX= 678,070.34 Liquidating upside MAX= 1,604,647.76Remark:-1.L iquidating Values(upside/downside)=L ong(-)/Short(+) x T heoretical Value x T rade Unit V alue2.L iquidating Values MAX=(upside/downside) M AX Strike – Current Price3.Additional=L iquidating V alues(upside/downside) MAX4.M argin Requirement=Additional + M ark-to-M arket M arginD) Total Margin Requirement of option positionsOPTIONS MARK-TO-MKT MARGIN UPSIDE DOWNSIDE ADDITIONAL MARGIN REQUIR EMENT 93,250.00 848,431 390,115 848,431.46 941,681.46333,240.00 1,604,647 678,070 1,604,647.76 1,937,887.76TOTAL 426,490.00 2,453,079.22 2,879,569.22MARGIN REQUIR EMENT= 2,879,569.22Pending PositionsA)Marginable Positions. The objective is to identify what is to be margined.SERIES L S E A PR CURRT SERIES L S E A PR CURRTCHK HKBC DEC 5000 -40 0 0 0 1.61 C JAN 22000 -7 0 3 0 10.92C DEC 5500 -100 0 0 0 0.05 C JAN 23000 0 88 0 0 6.88C JAN 6000 0 50 0 -98 0.15 C FEB 220000 20 0 0 12.56C JAN 6500 -35 0 15 0 0.03 C FEB 24000-20 0 25 0 5.58C FEB 50000 120 0 0 1.92 P MAR 25000 0 30 0 -15 8.54C MAR 60000 30 0 -30 0.71 P MAR 26000 0 20 0 -110 12.08P MAR 6500 -50 0 50 0 7.37 P JUN 22000 0 150 0 0 2.95P JUN 6500 0 50 0 0 5.46 P JUN 26000-60 0 0 0 12.93B)Mark-to-Market Margin. This calculates liquidation value at current market levels.PP PENDINGSERIES UN CL PR E A SETPR TR UN VAL MK TO MKT SERIES UN CLPRE A SET PR TR UN VAL MK TO MKTCHK HKBC JAN 6000 55.5 0 -98 4.5 1000 (441,000.00) C JAN 22000 241 -3 0 21 400 (25,200.00)C JAN 6500 55.5 15 0 9.5 1000 142,500.00 C FEB 24000241 -25 0 1 400 (10,000.00)C MAR 600055.5 0 -30 4.5 1000 (135,000.00) P MAR 25000 241 0 15 9 400 54,000.00P MAR 6500 55.5 -50 0 9.5 1000 (475,000.00) P MAR 26000 241 0 110 19 400 836,000.00TOTAL= (908,500.00) TOTAL= 854,800.00 HKB SUB TOTAL= (53,700.00)Remark:-1.M ark-to-M arket=Long(-)/Short(+) x Settle Price x T rade Unit V alueC)Additional Margin. This identifies the risk in the event of the “worst-case” market movement.CHK 55.5 36.07 48 50 55.5 74.93 65.000 60C JAN 6000 98A 1000 (441,000.00) (2,345,140.00) (1,176,000.00) (980,000.00) (49,000.00) 1463140 490000.000 0C JAN 6500 15E 1000 142,500.00 433,950.00 255,000.00 225,000.00 150,000.00 -148950 0.000 75000 C MAR 600030A 1000 (135,000.00) (717,900.00) (360,000.00) (300,000.00) (150,000.00) 447900 150000.000 0P MAR 6500 50E 1000 (475,000.00) (146,500.00) (850,000.00) (750,000.00) (500,000.00) 496500 0.000 -250000 Totals (908,500.00) (4,075,590.00) (2,131,000.00) (1,805,000.00) (990,000.00) 2258590 640000.000 -175000Liquidating downside MAX= (81,500.00) Liquidating upside MAX= 3167090 HKB 241 197.62 220 230 240 284.380 260.000 250 C JAN 22000 3E 400 (25,200.00) 26,856.00 - (12,000.00) (24,000.00) -77256 (48000.000) -36000 C FEB 2400025E 400 (10,000.00) 423,800.00 20,000.00 100,000.00 - -443800 (200000.000) -100000 P MAR 25000 15A 400 54,000.00 314,280.00 180,000.00 120,000.00 60,000.00 -206280 (60000.000) 0P MAR 26000 110A 400 836,000.00 2,744,720.00 1,760,000.00 1,320,000.00 880,000.00 -1072720 0.000 440000 Totals 854,800.00 3,509,656.00 2,140,000.00 1,528,000.00 916,000.00 -1800056 -308000 304000Liquidating downside MAX= 3,167,090.00 Liquidating upside MAX= -550800 Remark:-1.L iquidating Values(upside/downside)=L ong(-)/Short(+) x T heoretical Value x T rade Unit V alue2.L iquidating Values MAX=(upside/downside) M AX Strike – Current Price3.Additional=L iquidating V alues(upside/downside) MAX4.M argin Requirement=Additional + M ark-to-M arket M arginD) Total Margin Requirement of pending positionsOPTIONSMARK-TO-MKT MARGIN UPSIDE DOWNSIDE ADDITIONAL MARGIN REQUIR EMENT -908,500.00 3,167,090 -84,500 3,167,090.00 2,258,590.00854,800.00 -550,800 2,654,856 2,654,856.00 3,509,656.00TOTAL -53,700.00 5,821,946.00 5,768,246.00MARGIN REQUIREMENT= 5,768,246.00 TOTAL MARGIN REQUIR EMENT OF OPTION POSTIONS & PENDING POS TIONSOPTIONSMARK-TO-MARKET MARGIN ADDITIONAL MARGIN ADJUSTED MARGIN REQUIREMENT TOTAL MARGIN REQUIR EMENTOPTIONS 426,490.00 2,453,079.22 2,879,569.22 2,879,569.22 PENDING 53,700.00 5,821,946.00 5,768,246.00 5,768,246.00TOTA L=8,647,815.22。
阿拉伯联合酋长国2008年进口商 (1)
行业公司产品联系人地址电话传真邮箱网址2230333 2223535 alboom@eim.ae A&K Inter We are in G Khalid Suite 407,建材行业RESPONSE@EMIRATES. 00971 4 28200971 4 282建材行业P.O. BOX 6RESPONSE TRADING RAVI VERMA 00971 6 53300971 6 532建材行业MASTER FA IMPORTING A P.O. BOX 200971 4 22600971 4 229P.O. BOX 3ARTEGRUP@EMIRATES. AHMED RAB We are int FAISAL-ABDU建材行业00971 4 22600971 4 226ARYA_68@HOTMAIL.CO NAMWAR TR IMPORTERS A ARYA AHANG P.O. BOX 1建材行业00971 4 22600971 42260RAHIM69@EMIRATES.N AL KHALEE IMPORTERS O MR.RAHIM P.O. BOX 1建材行业WINDS@ 00971 4 35300971 4 353WINDS TRA IMPORTERS A A.B.GOPI P.O.BOX:59建材行业ALBILAD@EMIRATES.N WWW.ALBIL00971 4 88100971 4 881建材行业P.O. BOX 1AL BILAD PRODUCTS OF IHSAN AL KHP.O. BOX 8MARKAZIA@EMIRATES. 00971 4 28200971 4 282CENTRAL F We are int YUELI HAN 建材行业HARSH@GALLIGHTING.WWW.GALLI00971 4 88100971 4 881P.O.BOX 61GULF ADVA We are int HARSH GUPTA建材行业ARAK@ WWW.ARAKI00971 4 22600971 4 226建材行业AL ZAROONIARAK INTE INDENTING C VINOD BHATI00971 4 33600971 4 336P.O. BOX 1ZGTEDXB@EMIRATES.N AL ZUBAIR MANUFACTURE N.V.S.S. SA建材行业00971 4 35200971 4 351P.O. BOX 6BELANI10@EMIRATES. BELANI & We are int SUNIL S. BE建材行业00971 4 22300971 4 223XPLORER@EMIRATES.N SHOP NO. 1EXPLORER BUILDING MA ANIL RODRIG建材行业SKTE_99@ 00971 4 22600971 4 225SAIFULLAH EXPORTER AN MASOUD P.O. BOX 2建材行业00971 4 22500971 4 226P.O. BOX:1MEMONAAA@EMIRATES. MEMON ABD DEALERS IN XU HONG TU 建材行业00971 6 53300971 6 533MARINA1@EMIRATES.N P.O. BOX 5MARINA FA FIBRE GLASS MUNIR AHMED建材行业00971 4 22600971 4 226TAMIMI2@EMIRATES.N WWW.ALTANP.O. BOX 3AL TANNAN We are int M.S. TAMIMI建材行业00971 4 23500971 4 235P.O. BOX 8KHADIMCO@EMIRATES. MEMARI GI We are int BAHADOR BAD建材行业00971 4 34700971 4 347P.O.BOX:28UGARIT FU IMPORTING A EHSAN MIRZA建材行业00971 50 62 KUDDOSE@ P.O.BOX 49DEHNEE PE PERFUME MAN Mr. ABDUL K建材行业00971 6 56700971 6 567P.O.BOX: 2HOTELCOM@EMIRATES. AL REHAN TRADING IN RANJIT ABRA建材行业00971 4 88100971 4 881P.O.BOX:57MODERN LC We are int Mr. MOHAMED建材行业00971 4 22500971 4 225ALTABARI@EMIRATES. AL TABARI TABLEWARE Mr. NASSERDEIRA DUBA建材行业00971 4 22600971 4 226P.O.BOX:21 AL ABRA H IMPORTING A AHMED MOHAM建材行业00971 4 34300971 34347KPARWANI@DODSALDXB P.O.BOX 80DODSAL PT We are int Mr. KISHOR建材行业MAMOOREH@EMIRATES. 00971 2 63400971 2 634AL MAMOOR We are int Mr. M.ISHFAP.O.BOX 51建材行业00971 6 57400971 6 574P.O.BOX:28SYKSHAN@EMIRATES.N AL TAWASI CHEMICAL AN LIU EN HAI 建材行业SHARJAH 00971 6 53300971 6 532NOORANI1@EMIRATES. HI-TECH C We are int YUSUFI ALIA建材行业ATESDXB@EMIRATES.N 00971 4 28600971 4 286建材行业P.O.BOX 36AL THAWIY We are int JAY DELA CR00971 4 35100971 4 351P.O.BOX:41建材行业AUTO ANCI MANUFACTURE J.S.OBEROI 00971 4 33300971 4 333P.O.BOX 74STDENGG@EMIRATES.N STANDARD DESIGNERS A S.A. HUSSAI建材行业00971 6 53100971 6 531P.O.BOX:20SHJSTEEL@EMIRATES. SHARJAH S We are int IBRAHIM M.K建材行业00971 4 32100971 4 321P.O.BOX:11SIGMA ENT We are int JOSEPH A.NA建材行业00971 4 61100971 4 611P.O.BOX 30 AL JAZIRA SPECIALISED SANTOSH ZHA建材行业00971 4 28500971 4 285P.O.BOX:33DIRP@.WWW.DIRP.DUBAI INT GRP,GRC,GRG SALIM EID 建材行业00971 4 39700971 4 397NETCO@ P.O.BOX:52AL NOURAS WE ARE LEAD HATIM AL RO建材行业DOLCOOL@EMIRATES.N WWW.DOLPH00971 6 53300971 6 533P.O.BOX:14建材行业DOLPHIN R We are int NOORUDDIN N00971 6 53400971 6 534P.O.BOX:26DELTAUAE@EMIRATES.WWW.DELTA DELTA TRA We are int AHMED HINDA建材行业00971 4 22200971 4 222KALTRDES@EMIRATES. P.O.BOX:29KALHOUR T We are int ABDUL KARIM建材行业00971 4 34700971 4 347GULFLION@EMIRATES. GULF LION AGENTS,EXPO V.FELIX.G.BP.O.BOX:53建材行业KALTRDES@EMIRATES. 00971 4 22200971 4 222SH.MARYAMKAL HOUR OILFIELD SU Mr. ABDUL-K建材行业00971 4 35500971 4 355SMSVAZ@EMIRATES.NE WWW.SELECP.O.BOX:33建材行业Mr. ALBINUESELECTIVE MANAGEMENT ZAINABAC@EMIRATES. 00971 4 28200971 4 282建材行业P.O.BOX 71ZAINAB AI We are int CHERIAN M.JP.O. BOX:6NARULLA@EMIRATES.N 00971 4 88100971 4 881APOLLO EN HAVE DEPART ELDRED GRAC建材行业00971 50 5900971 4 221KVMSADIQ@ ALHILAL M We are int Mr. MUHAMME建材行业POST BOX 1建材行业SASEH@ 00971 4 29700971 4 297TODAY LIG We are int ANAS P.O. BOX 8MLINE@ 00971 4 33700971 4 337MAINLINE We are int HOMAYOUN IQ建材行业P.O.BOX: 8GCGINT@CNSUAE.CO.A P.O. BOX 400971 2 64500971 2 645建材行业GCG INTER We are int RAJEEV KOCH00971 4 33300971 4 333P.O.BOX: 6 CHANDER T DEALS IN HE Mr. RASHMI建材行业00971 9 22800971 9 228P.O.BOX 51COUBRO & We are int Mr. PHILIP建材行业NEXUS4@EMIRATES.NE P.O. BOX:00971 4 26200971 4 262建材行业NEXUS INT CERAMIC TIL VENKAT S.R.00971 4 28200971 4 282P.O.BOX:50ALJALAFT@EMIRATES. AL JALLAF We are int A. SAINUDHE建材行业00971 4 22600971 4 226SMSSONS@EMIRATES.N P.O.BOX:23SH. MOHD.We are int Mr. ZOEB. H建材行业AJAY786@EMIRATES.N 00971 4 39600971 4 353BLOSSOM H SUPPLYING C AJAY C.BHATP.O.BOX: 3建材行业00971 4 23500971 4 287HASSAN SH SPECIALISTS MURTUZA P.O.BOX 47建材行业BAYOMCOM@HOTMAIL.C 00971 4 26800971 4 268建材行业P.O.BOX:85EAST & WE We are int SHABBIR ISH00971 4 22600971 4 226P.O.BOX:55KHALOURI@EMIRATES. KHALOURI We are int MALIK MOHD.建材行业00971 6 76600971 6 766P.O.BOX:16NFCGLASS@EMIRATES. NATIONAL MANUFACTURE ALI ABU QLA建材行业00971 4 33300971 4 333BARKOUKY@EMIRATES. P.O.BOX 26ARABIAN E We are int Mr. OMAR EL建材行业00971 4 22300971 4 221HAMIDIA@EMIRATES.N P.O.BOX:35AL HAMIDI SUPPLYING T ABDUL SAMAD建材行业00971 6 55300971 6 553P.O. BOX:WANGCHEN@EMIRATES. GULF CHIN We are int WANG CHEN 建材行业00971 4 22500971 4 225P.O.BOX 37RHORASAN We are int MURTAZA LIA建材行业00971 6 53800971 6 538altsol@emirates.ne IndustrialAlternati We are int MR. Ali Al建材行业00971 4 22700971 4 227P.O.BOX 62VANITA27@EMIRATES. CHANDER T TRADING,IND Mr. SUBHASH建材行业00971 4 35200971 4 352KHUSHAL3@EMIRATES. POST BOX NKHUSHAL S EXPORTERS,D MANOJ GANDH建材行业00971 4 23500971 4 235WINJAN@EMIRATES.NE SHOP NO.6,AL HANAYA We are int ASHOK AGGAR建材行业00971 4 33400971 4 334P.O.BOX 27 INARA TRA We are int FAWAZ ALAKK建材行业00971 4 39700971 4 397MITYA@ P.O.BOX 27MARVELLOU DEALERS & I MITESH SOMA建材行业00971 4 29500971 4 295A. GHAFOO We are int A. GHAFOORP.O.BOX 41建材行业00971 6 74200971 6 742P.O.BOX:26 OCEAN-LIN We are int MELVIN VAZ 建材行业00971 4 22900971 4 229MIRPURI@EMIRATES.N NAVSHANTI We are int SANJOO P.O.BOX: 2建材行业AJMKOR@EMIRATES.NE 00971 6 74200971 6 742P.O.BOX 63建材行业AJMAN KOR MANUFACTURE Mr. C.T.THO00971 6 57400971 6 572P.O.BOX:21 LBN SINA We are int DR.IHSAN GA建材行业00971 6 74400971 6 744P.O.BOX 28GUEST AME THE ABOVE P ENAYAT A.KH建材行业MIYOSHI@EMIRATES.N 00971 4 22600971 4 235P.O.BOX 28建材行业MIYOSHI E We are int SANJAY N.SH00971 4 39600971 4 396P.O.BOX:28SUNILOJA@EMIRATES. HOUSE OF We are int SUNIL OJHA 建材行业00971 4 28600971 4 286MAJIDBUK@EMIRATES. P.O.BOX: 5MAJID BUK We are int M.N.KHORY 建材行业HITECHUAE@LYCOS.CO 00971 6 53300971 6 532P.O.BOX 19建材行业HI TECH E MANUFACTURI Mr. YUSUF 00971 4 22600971 4 226MURSHID BARSSRBS5@EMIRATES.N RIGHT STA WHOLESALERS FONIA R.FAJ建材行业00971 50 7800971 4 351BESAN@ P.O.BOX. 6AL JUMAIR TRADING MOHAMMED SA建材行业MANALGLS@EMIRATES.WWW.MANAL00971 7 24400971 7 244建材行业AL MANAL We are int CAN PERI P.O.BOX:32HAJIADNAN@HOTMAIL.WWW.THUND00971 6 53900971 6 539P.O.BOX NO建材行业THUNDER B DISTRIBUTOR Mr. SALIM MTAHANIGRP@HOTMAIL. 00971 4 26400971 4 272建材行业P.O.BOX:13TAHANI CA GROUP OF SU FANZEER ABOTGTCO@ 00971 4 22600971 4 226SUITE#13A,建材行业TAVANGAR WE ARE A GE Mr. ABDUL S00971 6 566 KAKU-OS@ WWW.BAKU-P.O. BOX:2OFFICE SY We are int Ms. AMALIA 建材行业BESAN@ 00971 4 22600971 4 226建材行业P.O.BOX:56BESAN HOU We are int MOHAMMED SA00971 4 22500971 4 225DLTMULLA@EMIRATES. DREAMLAND We are int M.G.MULLA P.O.BOX 34建材行业00971 2 60400971 2 626P.O.BOX 73SALMAN4UAE@HOTMAIL EMIRATES We are int SALMAN SAYA建材行业00971 4 34700971 4 347NOVELTY@CHOITHRAM. P.O.BOX 52T.CHOITHR NOVELTIES SUNDER BHOJ建材行业TICDUBAI@EMIRATES. 00971 4 22300971 4 222建材行业P.O.BOX 54TRANSCONT We are int KISHORE KUM00971 4 29700971 4 297GALE_LEIGH@SINA.CO EASTERN C TRADING;CHI FRANK LI P.O.BOX:41建材行业00971 4 22100971 4 227CRYSTALCUPTRADING@ CRYSTAL C WHOLESALE &Mr. YOUNOS建材行业DEIRA DUBA建材行业00971 4 22500971 4 225ASHOK001@EMIRATES.WWW.SNEHAP.O.BOX:32SNEHA GRO We are int ASHAH BHATI00971 2 88400971 2 884SAEEDX111@HOTMAIL. AL NAMOOS We are int SAEED SUHAI建材行业P.O.BOX:73RAMEZ TRA TRADING DUBAI 00971 4 22000971 HZHHARVEST@HOTMAIL 建材行业00971 4 23500971 4 235P.O.BOX 43建材行业GREEN WOR IMPORTER AN MOHD.ASHRAFWINNERDUBAI@HOTMAI 00971 4 26500971 4 269建材行业ABU BAKR AWINNER ST We are int SALAH M. TI00971 4 26700971 4 266AL-NAKHEELPRAXIS@EMIRATES.NE SAT MASTE We are int RAMESH UTTA建材行业00971 6 56800971 6 568KORNISH RO MUSHRIF H We are int FBRAHM FBRA建材行业00971 6 53200971 6 533SAFEER@EMIRATES.NE P.O.BOX 22SHOP‘N’GROUP OF HY RAJESH PANJ建材行业00971 6 55400971 6 537P.O.BOX:21MUSHRIF H We are int MAHD JBRAHI建材行业00971 4 22500971 4 226P.O.BOX:56ADIBEST@EMIRATES.N EDRIS AI-We are int FARDIN KHEZ建材行业00971 6 53200971 6 532ENVIRO@EMIRATES.NE P.O.BOX:64ENVIRO TR TRADING.RYD KUMAR GIDWA建材行业AKC1974@EMIRATES.N P.O.BOX 5500971 6 53200971 6 532建材行业AL-AMOODI We are int ABDUL HALIM00971 4 23500971 4 235P.O.BOX:31CATHYLIU@EMIRATES. NINGBO GU We are int ZHANG ZHONG建材行业00971 4 88300971 4 883COMPUTERSALES@DUBA WWW.DUBAIWAREHOUSE#DELTA BUS We are int BOB EDWARDS建材行业00971 50 6200971 6 383GULF FURN GENERAL TRA P.O. BOX N建材行业00971 4 22600971 6 533P.O.BOX 70LIFCO@ LIFCO TRA We are int RAED J. HAS建材行业00971 4 22700971 4 227STAR5@ AL TAWFIQ We are int AHMED GASEMP.O.BOX:41建材行业NOSHAD@EMIRATES.NE 00971 4 22600971 4 226建材行业NOSHADHA We are int P.O.BOX 2900971 4 28500971 4 285P.O.BOX:31ASWANDXB@EMIRATES.WWW.ASWAN ASWAN INT RECONDITION VIJAY ISRAN建材行业00971 4 22600971 4 226XPERT@ P.O.BOX 16XPERT GEN COMMISSION NILESH B.M.建材行业IBRHM786@EMIRATES. 00971 2 63400971 2 634P.O.BOX:52建材行业HALIMA PI TRADING IBRAHIM THE00971 6 56800971 6 568P.O.BOX:21 MUSHRIF H We are int MOHD.IBRAHI建材行业00971 9 22200971 9 222P.O. BOX 2AL-RAWDA We are int ASHRAF FAIE建材行业P.O.BOX:29KOREK@ 00971 6 53400971 6 534ORIENTAL We are int ELIAS KOREK建材行业00971 6 53400971 6 534P.O.BOX:29KOREK@ ORIENTAL We are int ELIAS KOREK建材行业00971 50 6100971 2 673ZHAMOR@EMIRATES.NE P.O. BOX 4GREEN BEL We are int EAHMOUL HOU建材行业00971 4 22500971 4 226NOORIYA@EMIRATES.N HABIL TRA IMPORT & EX IBRAHIM P.O.BOX:31建材行业MAJIC@ 00971 4 22800971 4 228YOUSAF BAK建材行业MAGIC LIG We are int ZOIA TATARI00971 4 22600971 4 226建材行业P.O. BOX 2MOHD. AL We are int MOHAMMED AL00971 4 27200971 4 333NAIF STREEAL MAS AL We are int MAHMOUD AL建材行业00971 4 34700971 4 347P.O.BOX 37hbm98@ HEADLINE We are int Mr. NASIR A建材行业00971 4 22600971 4 226CENTEX@EMIRATES.NE P.O.BOX 46AL SHAMAL We are int M.H.SHAMALI建材行业00971 4 26600971 4 269BLVARD98@EMIRATES. WAFI GENE We are int MR HAJA P.O.BOX 15建材行业SHANGANI@EMIRATES. 00971 4 22300971 4 224NAIF ROAD,建材行业SHANGANI We are int MUHAMMAD JESAGO@. 00971 4 22600971 4 226建材行业P.O.BOX NOSAGO COMP We are int RAMESH SAWL00971 4 34700971 4 347hassani@emirates.n P.O. BOX 2HASSANI T We are int R.B.ANCHAN 建材行业aluhdah@emirates.n 00971 6 53200971 6 532P.O. BOX 2AL UHDAH We are int M.MURALEEDH建材行业UCHC@ 00971 9 22200971 9 222建材行业P.O.BOX 51UNITED CO We are int THOMAS MATHANGELNH@ 00971 4 62300971 4 623MERBEH EL We are int DAVID 1108 DUBAI家用电器DIWANREF@EMIRATES. 00971 6 55900971 6 559P.O. BOX 2家用电器AL DIWAN KITCHEN EQU BASSAM DIWASANAL@ WWW.NIKAI00971 4 35500971 4 355家用电器P.O.BOX 92NIKAI COR MARKETING A SANAL KUMAR00971 4 22600971 4 225JOINTVEN@EMIRATES. JOINT VEN We are int RAVI NARAINP.O. BOX 1家用电器00971 4 23300971 4 233P.O. BOX 3 COSHIP EL We are int BRCE CHEUNG家用电器00971 4 22500971 4 226GEEPAS@EMIRATES.NE WWW.GEEPAP.O. BOX 3WESTERN I IMPORTERS A BASHEER K.家用电器00971 4 29700971 4 297STARGAME@EMIRATES. OASIS STA We are int RAYMOND LU P.O. BOX 8家用电器AL NAKHALMO105003@EMIRATES. 00971 4 22300971 4 221AL TOWAR VCD,DVD,MIC MR.MO QI WE家用电器00971 4 22100971 4 221STARTECK@EMIRATES. AL TALFAZ SUPER CALIF SAM DEVNANI家用电器SHOP NO.:1家用电器KINGSELECTRONICSDU 00971 4 22600971 4 226KINGS ELE PREMIER CAM KISHAN ACHAP.O.BOX:50SHANKA@EMIRATES.NE 00971 4 26300971 4 263家用电器P.O.BOX: 2LIGHT VIS We are int R.S.SHANKARTOOBA@ P.O.BOX:3200971 4 22300971 4 223家用电器TOOBA ELE We are int ABDUL MAJID00971 4 30100971 4 301P.O.BOX 22JETTY.GENERAL-USER DUBAI PET We are int Mr. DESPATC家用电器00971 4 22800971 4 228ALHAKIM@EMIRATES.N P.O.BOX: 8FORTUNE I We are int ABDUL LATIF家用电器GLOBA@ WWW.GLOBA00971 4 22200971 4 223家用电器OPP. SADHAGLOBATRON WE ARE MANU AKBAR ALI GMARTINMC@EMIRATES. 00971 4 22600971 4 226P.O.BOX 60家用电器MARTIN TR We are int CHANG MADAN00971 6 56200971 6 562P.O.BOX 28PENNSYL@EMIRATES.N WWW.PENNS PENNSYLVA We are int CHEN GUANG家用电器00971 4 22500971 4 225P.O.BOX:30KHAZURI@EMIRATES.N AL KHAZUR We are int NURI KHAZUR家用电器00971 4 22700971 4 228AUTOCRAF@EMIRATES.WWW.AUTOCP.O.BOX:25AUTO CRAF AUTHORISED SHAIKH SARF家用电器00971 4 22500971 4 225AL ZAROONIHERNOOL@EMIRATES.N IMOTO EXP We are int CHANDER TIK家用电器GULF COMP WE IMPORT &WU DUBAI 00971 5073700971 家用电器CAVAUDIO@EMIRATES. 00971 4 22800971 4 228P.O.BOX:39家用电器CAV AUDIO WE DEAL IN ZHU HONG CH U.M.W.P.M We are int马勇 DUBAI 00971 4 27200971 4 272家用电器AZQ@.A 00971 6 74400971 6 744ABDUL MAJ We are int AN ZHI QIANP.O.BOX:41家用电器00971 5049400971 CELL WORL IMPORTING A SAPOUR (QUDS STAR家用电器ALSAMIER@EMIRATES.WWW.ALSAM00971 4 22100971 4 227家用电器P.O.BOX 78AL SAMIER IMPORTER,EX MOHD.JAHANG305,306-BEORAYTRDG@EMIRATES.HTTP://AR00971 4 22100971 4 222ARAY GROU PURCHASE & JAMAL A.BAG家用电器00971 4 22500971 4 225P.O.BOX 50NOVINO@EMIRATES.NE NOVINO TR We are int ASHOK BHAGC家用电器00971 4 22200971 4 222MOEZALI5@HOTMAIL.C AHMED MOHAMOEZALI T We are int AZIZ-MOEZAL家用电器00971 4 22800971 4 228IMRANWATCH@HOTMAIL OFFICE NO.IMRAN SHA We are int IMRAN SHARI家用电器00971 4 27300971 4 271P.O.BOX:56ABTIKAR@EMIRATES.N AL MOFEED We are int ADEL AL HAB家用电器00971 4 22400971 4 221SHUA@. P.O.BOX 31SHUA TRAD DEALING IN AMIRALI SHA家用电器P.O.BOX:55MAYAUAE2000@YAHOO. 00971 4 22200971 4 222AL AMAN A We are int CHEN LILI (家用电器UNIKELEC@EMIRATES. 00971 4 22700971 4 227UNIQUE EL We are int NICK.P. P.O.BOX:19家用电器INDUTECH@EMIRATES. 00971 4 22800971 4 228家用电器P.O.BOX:63INDUTECH We are int MUKTHAR JASYUNSFAN@EMIRATES.N 00971 4 26700971 4 267AL-QUSAIS家用电器FAHAD AYO DEALS IN AL SALMAN AYUB00971 4 22100971 4 221ARBIFT TOWALWUSTA@HOTMAIL.CO AL WUSTA We are int SALH OMRAN家用电器00971 4 35100971 4 351PANSTAR@EMIRATES.N SUITE NO.5PANSTAR H We are int GAUTAM KUNZ家用电器MANAFED@EMIRATES.N 00971 4 22600971 4 226P.O.BOX 37纺织、皮AL-MANAFE We are int MOHAMMED IS00971 4 22200971 4 222GARGASH CEMTCDXB@EMIRATES.NE MASOUD TR We are int MOIDEEN KOZ纺织、皮00971 4 22500971 4 226MANAFED@EMIRATES.N SABKA.OPP.IBRAHIM H We are int MOHAMMED MU纺织、皮00971 50 4900971 4 881GEBAL ALI 纺织、皮SHENGETI We are int ELY CHEIKH 00971 2 67200971 2 674P.O.BOX 45KMTRDGCO@EMIRATES. K.M.TRADI We are int RAFEEK AHME纺织、皮00971 4 22600971 4 226KALASH@EMIRATES.NE P.O.BOX:13AHMED KAL We are int M-RABEE KAL纺织、皮TVADNANI@HOTMAIL.C 00971 4 35300971 4 353纺织、皮P.O.BOX 37T. VARAND We are int PRAKASH R.00971 4 22400971 4 228P.O.BOX 41MAXWLL8@EMIRATES.N MAXWELL T We are int REN YI MING纺织、皮00971 4 22500971 4 225 DAGHAYA S IMPORTERS & MURSHID BA纺织、皮BELANI10@EMIRATES. 00971 6 35400971 4 351P.O. BOX 6家用电器AL JUMEIR INDENTORS SUNIL S. BE00971 4 22900971 4 229P.O. BOX 2NETELECT@EMIRATES. NETWORK E EXPORTERS A HEMANT RAMA家用电器00971 4 22300971 4 223HAGH99@EMIRATES.NE MASON TRA We are int MOHSEN P.O.BOX 61家用电器00971 4 27100971 4 271ALDOHAGT@EMIRATES.WWW.ALDOH AL DOHA G We are int ABADI AL MUSALLA家用电器DLAKHANI@EMIRATES. 00971 4 22500971 4 225P.O. BOX 4家用电器ULTRA TRA EXPORTERS I Mr. DHARMENRAGS001@EMIRATES.N WWW.RAGHA00971 4 39300971 4 393家用电器P.O. BOX 7RAGHANI T IMPORTING I JIMMY RAGHA00971 4 22900971 4 229MJTRONIC@PRO MOHD JABE We are int NITIN G.CHAP.O.BOX:53家用电器FIKREE MAR00971 4 22500971 4 225AL SHAIMA IMPORT,EXPO JAYESH SHET家用电器00971 2 74800971 2 748CPC@.A WWW.CPCEM CHINA PRO We are int Mr. TONNY Y家用电器P.O. BOX 3家用电器AC123456@EMIRATES. 00971 4 22400971 4 224AL MUKHAI WHOLESALER P.O. BOX 3ZAMYUAE@EMIRATES.N 00971 4 22200971 4 222NEW ZAMY TYRES,TUBES ANWAR HUSSA家用电器P.O. BOX 1ROSELINE@EMIRATES. P.O. BOX 100971 4 26200971 4 266家用电器ROSELINE We are int ANESS SAMAD00971 4 88100971 4 881P.O. BOX 1SELVAM@EMIRATESTRA WWW.EMIRA EMIRATES MANUFACTURI MR.NILESH S家用电器00971 4 22300971 4 223HUAFENG@EMIRATES.N HUA FENG We are int JOY ZHANG（P.O. BOX 1家用电器00971 4 39300971 4 393 UNITEX TR IMPORTING A P.O.BOX 86家用电器家用电器TOP-ART-T We are int JIMI DUBAI 00971 4 22500971 4 22500971 4 22100971 4 221家用电器MEDRA TRA IMPORTING A P.O.BOX 40NEWLINE1@EMIRATES.WWW.NEWLI00971 4 22400971 4 224P.O.BOX 14家用电器NEWLINE T We are int MOHAMED. SAINSHAUAE@EMIRATES. 00971 4 27200971 4 272家用电器INSHA TEL We are int SHOP NO.1,SHAHABIDUAD@HOTMAI 00971 4 26900971 4 269P.O.BOX 13家用电器AFGHAN GU We are int DAUD.A.SHAHHSARWANI@EMIRATES. 00971 6 55700971 6 557家用电器SHARJAH AISARWANI I WE ARE LEAD IMRAN RASHIRAJSON@EMIRATES.NE 00971 4 22300971 4 227家用电器P.O.BOX 33ALHAKIM F90% OF GOOD RAJESH CHAT00971 6 53400971 6 534P.O.BOX:22TRISTAR_MAIL@YAHOO THREE STA WE DEAL IN P.K.CHERIAN家用电器00971 6 53200971 6 532GEOPARTS@EMIRATES. AL GEO AU WE ARE IMPO GEOGY INDUSTRIAL家用电器00971 4 35300971 4 353P.O.BOX 43家用电器NEW SELEC We are int SOBHRAJ HAR00971 4 22900971 4 261P.O.BOX:57ARIFOAIG@EMIRATES. MAB TRADE WE ARE ENGA MIRZA ARIF家用电器AYUBM51@ 00971 4 22200971 4 222BEETHOVEN WE ARE WHOL P.O.BOX:65家用电器NASATYRE@ 00971 6 54300971 6 542家用电器INDUSTRIALNASA TYRE WE IMPORT A MUHAMMAD FAKHALIFA@ WWW.QUTTA00971 4 22700971 4 222P.O.BOX:52家用电器KOMTEL We are int DR.ABDELMAK00971 4 27200971 4 272FLAT 210,ASANDXB@EMIRATES.NE HOMETEX (We are int STEVEN ZHOU家用电器00971 4 22800971 4 228BANIYAS TOSNOWA@ SNOWA GEN We are int UMER A.TAQV家用电器00971 4 22700971 4 227AZETURAN@EMIRATES. P.O.BOX:90OASIS LIN We are int AZER MASIMO家用电器AL THANI BFOT@.A 00971 4 23500971 4 235FAMOUS OU We are int SHERZOD ARI家用电器00971 4 22100971 4 221ALREEM TOW ADMICO We are int ALI R.BONAK家用电器00971 4 27300971 4 273P.O.BOX:15YAMAL ALS We are int IBRAHIM SAF家用电器RINGSTAR@EMI.AE 00971 4 22900971 4 229P.O.BOX 12家用电器SPRING ST We are int ASHRAF BEN00971 4 22200971 4 221P.O.BOX:19AJ4DUBAI@EMIRATES.WWW.AJHAD AHMAD JUM DEALS IN:DI SAEEDA GHAN家用电器00971 4 35300971 4 353SAINARA@EMIRATES.N P.O.BOX:51SYMPHONY We are int ARUN AHUJA 纺织、皮KAVILTD_UAE@HOTMAI WWW.KAVIL00971 6 53300971 6 532纺织、皮P.O.BOX:41KAVI INTE MANUFACTURE VIJAY L.VASREJAIE-EXH@YAHOO.C DUBAI 00971 4 22400971 4 224REJAIE EX We are int VALI FOTOUH纺织、皮RESHAN@EMIRATES.NE 00971 4 22100971 4 221纺织、皮P.O.BOX:21RESHAN BU We are int AHMED.A.RES00971 4 35300971 4 353TOGETHERTEX@HOTMAI KABUL TEX We are int SUNNY KATARG.I.NEW AI纺织、皮H.SAFDRIL We are int SUWEIMIN DUBAI 00971 4 22300971 4 227纺织、皮00971 4 33500971 4 335纺织、皮GUO HUA T We are int P.O.BOX:21P.O.BOX 28TWOXL@ 00971 6 57200971 6 573MODERN IN FRANCHISE ABDULLAH MU建材行业00971 4 27200971 4 273P.O.BOX:12DUEPIUAE@EMIRATES. NAIF FURN WALL COVERI NAEEM UDDIN建材行业00971 4 22500971 4 225NAJAFICO@EMIRATES. P.O.BOX:14GHULOOM M We are int A. SARKHOSH建材行业NEWZAMIN@EMIRATES. 00971 4 22500971 4 225AL RAS ARE建材行业ABDULLA A WHOLESALER ABDUL RAZAQ00971 4 22500971 4 225BIN HAMUDAHANNAN@EMIRATES.NE ACROPOL T We are int ASIF SATTAR建材行业00971 6 53400971 6 534AALMIR@EMIRATES.NE P.O.BOX 45MIR INTER GENERAL TRA A.MIRZADEH 建材行业00971 2 64100971 2 641NUBANI@EMIRATES.NE ARABIAN L INDOOR LIGH IYAD A. NUBP.O.BOX:43建材行业00971 4 28300971 4 283P.O.BOX:26GOLDNRAY@EMIRATES. GOLDEN RA ELECTROMECH MAHER SAEED建材行业00971 4 26600971 4 266SALHIYA@EMIRATES.N P.O.BOX:34AL SALHIY We are int ABDULNABI H建材行业00971 2 44500971 2 445NOVA3905@EMIRATES. NOVA SYST We are int KISHAN TAHIP.O.BOX:25建材行业NEAR AL FUHAYATSUB@EMIRATES. 00971 4 27100971 4 271MUHAMMED We are int MOHD.HAYAT 建材行业00971 4 27100971 4 271 MUHAMAD H We are int MR. M.HAYAT建材行业NAIF ROAD,建材行业00971 6 53200971 6 532MURTAZA T SUPPLIERS &MURTAZA HATP.O.BOX:5600971 4 27100971 NAIF ROAD建材行业M.HAYAT F We are int MR. M.HAYA VENUSIND@EMIRATES. P.O.BOX 1600971 4 88100971 4 881建材行业VENUS IND MFG.OF NON RANJIT K.GO00971 4 34700971 4 347P.O.BOX:70RESTONIC@EMIRATES. PREMIER F We are int YOUSIF KOOH建材行业00971 4 24700971 4 248P.O.BOX:13AL SADRA IMPORTING A S.M.SADAT 建材行业MOHEBICO@EMIRATES. 00971 4 22600971 4 226HAJ ALI M IMPORTERS,E AZIZ P.O.BOX:13建材行业00971 4 22600971 4 225P.O.BOX:64ALBAHER@EMIRATES.N AL BAHER We are int VILAYATHULL建材行业00971 4 34500971 4 345RAMINCO@EMIRATES.N TOP CENTR IMPORTING A NEXT TO CA建材行业ALABAS@EMIRATES.NE 00971 4 22200971 4 227P.O.BOX 39建材行业AL-ABBASI INDUSTRIAL,HATIM ZAINUDXBSBM@EMIRATES.NE JEBEL ALI00971 4 88100971 4 881建材行业SAMBROON We are int SALAH HIDOUOREST@TEHRAN.IRPOS 00971 4 22700971 4 228OREST TRA IMPORTING A P.O.BOX 47建材行业00971 2 62200971 2 622UNIFUR@EMIRATES.NE UNION FUR We are int SHOP NO.1建材行业00971 4 27200971 4 271P.O.BOX 24BAHAMA@EMIRATES.NE BAHAMA TR We are int MAHMOOD ABD建材行业00971 6 53300971 6 533VARIOUSDECOR@MAKTO CASTLION SANITARY WA SAMEEH P.O.BOX:34建材行业DUBAI 00971 4 27300971 4 221AKMOHAMEDASHRAF@YA ARAKKAL T We are int MOHAMED ASH建材行业00971 4 22700971 4 227P.O.BOX:52MULTIBIS@EMIRATES. SAI TRADI We are int PREM ADNANI建材行业00971 4 35300971 4 353CHINATOWN2000@HOTM INTERESTE WE ARE IMPO BHARAT (MATFIKHREE MA建材行业VINDUBAI@EMIRATES. DUBAI 00971 4 39300971 4 393MART CANA We are int RUSHI CHUG 建材行业00971 4 33500971 4 334P.O.BOX 14NIRAIN@VISTA-INTL.WWW.VISTA VISTA MAR We are int NIRAIN LOBO建材行业00971 6 55900971 6 559HUZAIFA@EMIRATES.N AL WAHDA SAL HUZAIF RETAILERS W HUZAIFA NEN建材行业SUNWAY@ 00971 4 22700971 4 227SUNWAY HA We are int P.O.BOX 41建材行业00971 6 56800971 6 568P.O.BOX 33MNOORANI@EMIRATES. NOORANI We are int MOHAMED AL建材行业00971 5078700971 6 747MOONBABYXY@HOTMAIL P.O.BOX 51AL BARWAN We are int ZHAO BAI JI建材行业P.O.BOX 3700971 5077500971 CASEY.RAINE@ATE-DU WWW.ATE-D ARAB TECH WE SUPPLY T CASEY RAINE建材行业DUBAI 00971 5074600971 MOHAMAD@ M.SWIDAN EXPORTER & MOHAMMAD SW建材行业ALSAKHRA@EMIRATES. 00971 4 22900971 4 229AL SAKHRA We are int MOHAMMAD NEP.O.BOX:29建材行业P.O.BOX:35TMS_AFLATOON@YAHOO 00971 4 33300971 4 333TARGET ME ENGINEERING AFLATOON JA建材行业00971 4 22600971 4 225P.O.BOX:21FARZANAAZIZ@HOTMAI FARZANA T We are int RAHI AZIZ 建材行业00971 4 26700971 4 267ALHANA57@EMIRATES. P.O.BOX:20AL HANA T We are int SHAKER ZINO建材行业00971 4 32400971 4 324AL WAFI CEBETTY BAR We are int ALEXANDER Y建材行业00971 2 67100971 2 676P.O.BOX:31CHMCO123@EMIRATES. CAPITAL H HOME AND OF ZHANG XIAN建材行业00971 4 23500971 4 226SKY_LAND@EMIRATES. CHINESE S ALL KINDS O LUO WENSHENAL RAS ARE建材行业AL NUFOOZ We are int KANDY DUBAI 00971 4 22700971 COCOKANDY@HOTMAIL. 建材行业建材行业PTC@.A WWW.PRAKA00971 4 26900971 4 262PRAKASH T We are int K.SRINIVASASALAH-AL-DAHSTC@ 00971 4 22500971 4 226建材行业We are int扎巴理 P.O.BOX:13雅弧拉贸易00971 6 53100971 6 531JOHN@HOMESRUSGROUP P.O.BOX:38HOMES RUS FURNISHINGS JOHN VIJAYA建材行业00971 4 22500971 4 225P.O.BOX:55DSUP@. SUPREME E We are int MANISH LILA建材行业P.O.BOX 8400971 50 4600971 SALES@POWERTELSYST POWERTEL WE ARE IMPO R.AGARWAL 建材行业AMIDLAND@EMIRATES.] 00971 6 54200971 6 542B.M.W.ROAD建材行业MIDLAND H GENERAL ORD MR.OAID JOH00971 4 22600971 4 226P.O.BOX:10FTCUAE@ FARAJALLA We are int ABDULLAH FA建材行业00971 6 53400971 6 534FATEEN@AL-BADDAD.C WWW.AL-BAP.O.BOX 40ALBADDAD GENERAL TRA FATEEN H.AL建材行业SOLGROUP@EMIRATES. 00971 4 22200971 4 227建材行业P.O.BOX:14SOLANKI I We are int ABDULBASITTANATIF/F We are int DUBAI 00971 5045200971 建材行业00971 2 63400971 2 634ALWADISB@HOTMAIL.C AL WADI S We are int KHALID ALZUAL NAJDAH建材行业00971 6 55900971 6 559SHARJAH,(PAL DURAH WE DEAL IN HASSAIN AL建材行业P.O.BOX 14NIRAIN@VISTA-INTL.WWW.VISTA00971 4 33500971 4 334VISTA MAR We are int NIRAIN LOBO建材行业00971 4 23500971 4 226SKY_LAND@EMIRATES. CHINESE S ALL KINDS O LUO WENSHEN建材行业AL RAS ARE。
赫斯特指数
Hurst 指数的计算方法
由原始数据计算 R (T) /S (T) ，T= 2，3，⋯，
R T mX a t,x T mX itn ,T
1 t T
1 t T
STT1tT1ξtξT21/2
然后在 ln(R /S) - lnT 坐标系中用直线拟合观 测点。
该直线斜率即为H 指数的值。
在完全有效的资本市场上，证券价格完全 能够反映信息蕴涵的价值。收益率的波动 不能用过去的收益率来预测。股票的收益 率此时是随机游走，服从布朗运动模型、 正态分布。
21
目前世界上大多数国家股票市场的实践都证 明股票收益率分布具有尖峰肥尾以及存在长 期记忆效应等特征，传统的有效市场理论显 然已经不合时宜。
此时，时间序列有混沌性。过去的增量与未 来的增量是正相关的，序列在下一时刻极有 可能仍将保持原方向不变。因此，一定范围 的记录会持续相当长的时期，从而形成一个 个大的循环。但是这些循环没有固定的周 期，难以依靠过去的数据预测未来的变化。
H = 1：完全预测。此时, 时间序列为一条直
线。未来完全可以用现在进行预测。
学者们在非线性分析思维的启示下，提出了 与有效市场理论相对应的分形市场理论，其 代表人物有Mandelbrot 和Edgar E. Peters 。
22
Mandelbrot(1964) 对资本市场的统计特性进 行了开创性的探索，创立了分形几何学， 提出了分形理论；
Peters( 1994) 在Mandelbrot 的基础上进一步 对资本市场统计特性进行了研究，提出了 分形市场假说( FMH) 。
而东方明珠(600832) 的收益率是Antipersistent 的。这表明它们的收益率趋向于返回过去的 记录，收益率变化的增量发散较慢。
报价表
期货价 864.00 930.00 930.00 930.00 913.00 864.00 825.00 649.00 633.00 594.00 924.00 924.00 874.00 874.00 798.00 633.00 578.00 825.00 798.00 633.00 578.00 523.00 523.00 743.00 732.00 413.00 484.00 424.00
新 新 新 新 新
袜 袜 袜 袜 袜 袜 袜 袜 袜 袜 袜 袜 袜 袜 袜 袜
新
30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 27.00 32.00 32.00 30.00 27.00 33.00 30.00 30.00 30.00 30.00 30.00 28.00 30.00 30.00 33.00 27.00 30.00 32.00 32.00 30.00 30.00 30.00 30.00 27.00 30.00 27.00
新 新 新 新 新 新色 新色 新 新 新 新 新
ARMORTEC 系列 MUSCLE POWER 系列 MUSCLE POWER 系列 MUSCLE POWER 系列 MUSCLE POWER 系列 MUSCLE POWER 系列 MUSCLE POWER 系列 MUSCLE POWER 系列 MUSCLE POWER 系列 MUSCLE POWER 系列 MUSCLE POWER 系列 MUSCLE POWER 系列 TITANIUM 系列 TITANIUM 系列 CARBONEX 系列 CARBONEX 系列 CARBONEX 系列 ISOMETRIC 系列 ISOMETRIC 系列 ISOMETRIC 系列 ISOMETRIC 系列 ISOMETRIC 系列 ISOMETRIC 系列 ISOMETRIC 系列 ISOMETRIC 系列 ISOMETRIC 系列 ISOMETRIC 系列 ISOMETRIC 系列 CARBONEX 系列 CARBONEX 系列 CARBONEX 系列 CARBONEX 系列 CARBONEX 系列 CARBONEX 系列 CARBONEX 系列 CARBONEX 系列 CARBONEX 系列
2008福布斯全球亿万富豪榜
2008福布斯全球亿万富豪榜排名姓名净资产(亿美元)国家及地区资产来源年龄资产变动1 Warren Buffett 620 美国伯克夏-哈萨威77 Up2 Carlos Slim Helu 及家族600 墨西哥电信68 Up3 William Gates III 580 美国微软公司、投资52 Up4 Lakshmi Mittal 450 印度钢铁57 Up5 Mukesh Ambani 430 印度石化50 Up6 Anil Ambani 420 印度多元投资48 Up7 Ingvar Kamprad 及家族310 瑞典宜家81 Down8 KP Singh 300 印度房地产76 Up9 Oleg Deripaska 280 俄罗斯俄罗斯铝业40 Up10 Karl Albrecht 270 德国超市88 Up11 Li Ka-shing 265 中国香港多元投资79 Up12 Sheldon Adelson 260 美国博彩、酒店业74 Down13 Bernard Arnault 255 法国路易威登59 Down14 Lawrence Ellison 250 美国甲骨文63 Up15 Roman Abramovich 235 俄罗斯石油41 Up16 Theo Albrecht 230 德国超市85 Up17 Liliane Bettencourt 229 法国欧莱雅85 Up18 Alexei Mordashov 212 俄罗斯钢铁42 Up19 Prince Alwaleed Bin TalalAlsaud210 沙特阿拉伯投资51 Up20 Mikhail Fridman 208 俄罗斯石油、银行业43 Up21 Vladimir Lisin 203 俄罗斯钢铁51 Up22 Amancio Ortega 202 西班牙时装72 Down23 Raymond、Thomas & Walter Kwok199 中国香港房地产Up24 Mikhail Prokhorov 195 俄罗斯金属42 Up25 Vladimir Potanin 193 俄罗斯金属47 Up26 Christy Walton 及家族192 美国沃尔玛、继承53 Up 26 Jim Walton 192 美国沃尔玛60 Up 26 S Robson Walton 192 美国沃尔玛64 Up 29 Alice Walton 190 美国沃尔玛58 Up 29 Lee Shau Kee 190 中国香港房地产80 Up 31 David Thomson 及家族189 加拿大继承50 Down32 Sergey Brin 187 美国谷歌34 Up33 Larry Page 186 美国谷歌35 Up34 Michael Otto 及家族182 德国零售业64 Up35 Stefan Persson 177 瑞典服装60 Down36 Suleiman Kerimov 175 俄罗斯股票42 Up37 Charles Koch 170 美国制造业、石油、商品期货72 Up 37 David Koch 170 美国制造业、能源、商品期货67 Up39 Francois Pinault 及家族169 法国零售业71 Up40 Michael Dell 164 美国戴尔43 Up41 Paul Allen 160 美国微软公司、投资55 Down41 Kirk Kerkorian 160 美国投资、博彩90 Up43 Steven Ballmer 150 美国微软公司、投资52 Same43 Abigail Johnson 150 美国共同基金46 Up43 Shashi & Ravi Ruia 150 印度多元投资Up46 Nasser Al-Kharafi 及家族140 科威特建筑业64 Up46 Carl Icahn 140 美国杠杆收购72 Up46 Forrest Mars Jr 140 美国糖果、宠物食品76 Up46 Jacqueline Mars 140 美国糖果、宠物食品68 Up46 John Mars 140 美国糖果、宠物食品71 Up 46 Jack Taylor 及家族140 美国汽车租赁85 Up 46 Birgit Rausing 及家族140 瑞典包装84 Up46 Gerald Cavendish Grosvenor 及家族140 英国房地产56 Up54 German Khan 139 俄罗斯石油46 Up55 Susanne Klatten 132 德国宝马汽车、制药45 Up56 Vagit Alekperov 130 俄罗斯石油57 Up56 Donald Bren 130 美国房地产75 Up58 Alain & Gerard Wertheimer 129 法国香奈儿Up59 Dmitry Rybolovlev 128 俄罗斯化肥41 Up60 Naguib Sawiris 127 埃及电信53 Up60 Azim Premji 127 印度软件62 Down62 Anne Cox Chambers 126 美国传媒88 Same63 Iskander Makhmudov 119 俄罗斯采矿、金属、机械44 Up64 Sunil Mittal 及家族118 印度电信50 Up65 Alexander Abramov 115 俄罗斯钢铁、采矿49 Up 65 Michael Bloomberg 115 美国彭博社66 Up67 Viktor Vekselberg 112 俄罗斯石油、金属50 Up68 Nassef Sawiris 110 埃及建筑业46 Up 68 George Kaiser 110 美国石油、天然气、银行业65 Up 68 Spiro Latsis 及家族110 希腊银行业61 Same 68 Michele Ferrero 及家族110 意大利巧克力81 Up72 Alexei Kuzmichev 108 俄罗斯石油、银行业45 Up73 Viktor Rashnikov 104 俄罗斯钢铁59 Up 73 Philip Knight 104 美国耐克70 Up75 Ernesto Bertarelli 103 瑞士生物科技42 Up76 Kumar Birla 102 印度商品期货40 Up77 Antonio Ermirio de Moraes 及家族100 巴西多元投资79 Up77 Vladimir Yevtushenkov 100 俄罗斯电信59 Up 77 Igor Zyuzin 100 俄罗斯采矿、钢铁47 Up 77 Edward Johnson III 100 美国共同基金77 Up 77 Hans Rausing 100 瑞典包装82 Up 77 Leonardo Del Vecchio 100 意大利眼镜72 Down 77 Iris Fontbona 及家族100 智利采矿New84 Serge Dassault 及家族99 法国航空业82 Down85 Alberto Bailleres 及家族98 墨西哥采矿75 Up86 Ramesh Chandra 96 印度房地产68 Up87 Charles Ergen 95 美国卫星电视55 Down 87 John Kluge 95 美国传媒93 Up 87 Ronald Perelman 95 美国杠杆收购65 Up90 Silvio Berlusconi 及家族94 意大利传媒71 Down91 Alisher Usmanov 93 俄罗斯钢铁、股票54 Up 91 Petr Kellner 93 捷克保险43 Up 91 Gautam Adani 93 印度商品期货、基础设施45 New 94 Adolf Merckle 92 德国制药73 Down 94 August von Finck 92 德国投资78 Up96 Onsi Sawiris 91 埃及建筑业78 Up97 Robert Kuok 90 马来西亚多元投资84 Up 97 George Soros 90 美国对冲基金77 Up 97 Mohammed Al Amoudi 90 沙特阿拉伯石油62 Up100 Abdul Aziz Al Ghurair 及家族89 阿联酋银行业54 Up101 Joseph Safra 88 巴西银行业69 Up 102 Reinhard Mohn 及家族87 德国传媒86 Up 102 James Goodnight 87 美国SAS 65 Up104 Maria-Elisabeth & Georg Schaeffler85 德国球轴承Down104 Donald Newhouse 85 美国出版业78 Up 104 Samuel Newhouse Jr 85 美国出版业80 Up 107 Sulaiman Al Rajhi 84 沙特阿拉伯银行业88 Up 107 Philip & Cristina Green 84 英国零售业56 Up 109 Rupert Murdoch 83 美国新闻集团77 Down 110 Jeffrey Bezos 82 美国亚马逊网44 Up 110 Savitri Jindal 及家族82 印度钢铁58 Up 112 Maan Al-Sanea 81 沙特阿拉伯建筑业、金融53 Up 113 Nikolai Tsvetkov 80 俄罗斯石油、银行业47 Down 113 Leonard Blavatnik 80 美国采矿、投资50 Up 113 John Fredriksen 80 塞浦路斯船运63 Up 113 Stanley Ho 80 中国香港博彩86 Up 117 Dan Duncan 79 美国能源75 Down117 Eliodoro Matte 及家族79 智利造纸62 Up119 Erivan Haub 及家族78 德国零售业75 Up120 Reinhold Wurth 77 德国阀门72 Down 120 Pierre Omidyar 77 美国电子港湾40 Down 120 Tsai Hong-tu 及家族77 中国台湾金融55 Up 120 Cheng Yu-tung 77 中国香港房地产82 Up 124 Akira Mori 及家族75 日本房地产70 Up 125 Philip Anschutz 74 美国投资68 Down 125 Yang Huiyan 74 中国房地产26 New 127 Charlene de Carvalho-Heineken 73 荷兰喜力啤酒53 Up 127 John Menard Jr 73 美国家庭装修68 Up127 German Larrea Mota-Velasco 及家族73 墨西哥采矿54 Returnee127 Rinat Akhmetov 73 乌克兰钢铁、煤矿41 Up 131 Ananda Krishnan 72 马来西亚多元投资69 Up 132 Galen Weston 及家族70 加拿大零售业67 Down 132 Americo Amorim 70 葡萄牙软木产品、投资73 New 132 Antonia Johnson 70 瑞典多元投资64 Up132 Ng Teng Fong 70 新加坡房地产79 Up 136 Harold Simmons 69 美国投资76 Up 137 Stefan Quandt 68 德国宝马42 Down 137 Steven Cohen 68 美国对冲基金52 Up 137 Sumner Redstone 68 美国维亚康母84 Down 140 James、arthur & John Irving 67 加拿大石油Up 140 Sammy Ofer 及家族67 以色列船运86 Up142 Eike Batista 66 巴西铁矿采矿51 New 142 Curt Engelhorn 66 德国药物81 Up142 Eric Schmidt 66 美国谷歌52 Up145 Andrew Forrest 65 澳大利亚采矿、金属46 Up145 Kjeld Kirk Kristiansen 65 丹麦乐高玩具60 Up145 Eli Broad 65 美国投资74 Up145 Stephen Schwarzman 65 美国投资61 Up149 Klaus-Michael Kuhne 64 德国船运70 Up149 Leonid Fedun 64 俄罗斯石油51 Up149 Boris Ivanishvili 64 俄罗斯银行业、采矿52 Up149 Sergei Popov 64 俄罗斯银行业、煤炭、化工36 Up149 Hiroshi Yamauchi 64 日本任天堂80 Up 154 Karl-Heinz Kipp 63 德国零售业84 Up 154 James Kennedy 63 美国传媒60 New 154 Blair Parry-Okedon 63 美国传媒57 New154 Ricardo Salinas Pliego 及家族63 墨西哥零售业、传媒52 Up158 Andrey Melnichenko 62 俄罗斯银行业、煤炭、化工36 Up 158 Robert Rowling 62 美国石油、天然气、投资54 Up 160 Dorothea Steinbruch 及家族61 巴西钢铁Up16 0 Kirill Pisarev61俄罗斯房地产38New16 0 Yuri Zhukov61俄罗斯房地产38New16 0 Terry Gou61中国台湾科技57Up16 4 Sean Quinn 及家族6爱尔兰房地产、保险、水泥、玻璃、酒店61Up16 4 Johanna Quandt6德国宝马汽车81Down16 4 Dmitry Pumpyansky6俄罗斯钢铁管道44Up16 4 David Geffen6美国电影、音乐65Up16 4 Samuel Zell6美国房地产、私募基金66Up16 4 Hansjorg Wyss6瑞士医疗设备72New16 4 Anil Agarwal6印度采矿、金属54Up17 1 Jean-Claude Decaux 及家族59法国广告7Up17 2 Jorge Paulo Lemann58巴西啤酒68Up17 3 James Packer57澳大利亚传媒4Up17 3 Edward Rogers57加拿大传媒74Up17 3 Lee Shin Cheng57马来西亚农业68Up17 3 Nicky Oppenheimer 及家族57南非戴比尔斯珠宝62Up17 7 Charles Schwab56美国折扣股票经纪7Up17 8 Pyotr Aven55俄罗斯石油、银行业、电信53Up17 8 Alexander Frolov55俄罗斯采矿、钢铁43Up17Luis Carlos Sarmiento 5哥伦比亚银行业7Up8 5 5 178 Jim Pattison 55 加拿大多元投资79 Up178 Robert Bass 55 美国石油、投资60 Same178 Henry Kravis 55 美国杠杆收购64 Up178 George Roberts 55 美国杠杆收购64 Up178 James Simons 55 美国对冲基金70 Up178 Adi Godrej 及家族55 印度多元投资65 Up178 David & Simon Reuben 55 英国投资、房地产Up178 YC Wang 及家族55 中国台湾化工91 Up189 Hasso Plattner 54 德国SAP 64 Down189 Julio Mario Santo Domingo54 哥伦比亚啤酒、多元投资84 Down189 Micky Arison 54 美国豪华游轮58 Down 189 Steven Jobs 54 美国苹果电脑、皮克斯53 Down 189 Michael Kadoorie 及家族54 中国香港多元投资67 Up 194 Hubert Burda 53 德国出版业68 Up 194 Kunio Busujima 及家族53 日本博彩82 Up194 Mohamed Bin Issa Al Jaber53 沙特阿拉伯房地产、酒店业49 Up194 Rafael del Pino 及家族53 西班牙建筑业87 Down 198 Thomas Schmidheiny 52 瑞士水泥62 Down 198 Alicia Koplowitz 52 西班牙投资55 Up 198 G M Rao 52 印度基础设施57 Up20 1 Masayoshi Son 51 日本软银50Down201Graeme Hart 51 新西兰投资52 Up20 3 Pallonji Mistry 50 爱尔兰建筑业78Down203Otto Beisheim 50 德国零售业84 Up203Michael Herz 50 德国咖啡62 Up203Robert Holding 50 美国能源、度假胜地、牧场81 Up203Saleh Kamel 50 沙特阿拉伯多元投资66 Up20 3 Lorenzo Mendoza 及家族50 委内瑞拉饮料42Down203Victor Pinchuk 50 乌克兰钢铁管道47 Up203Giorgio Armani 50 意大利时尚73 Up211 Karl Wlaschek 49 奥地利百货商场90 Up 211 Wolfgang Herz 49 德国咖啡57 Up21 3 Michael & Rainer Schmidt-Ruthenbeck48 德国零售业Up214Andreas Strungmann 47 德国普通药物58 Up214Thomas Strungmann 47 德国普通药物58 Up214Leonid Mikhelson 47 俄罗斯天然气52 Up21 4 Vladimir Kim 47 哈萨克斯坦采矿47Down214Patrick McGovern 47 美国IDG 70 Up214David Murdock 47 美国投资84 Up214Saleh Al Rajhi 47 沙特阿拉伯银行业96 Up 214 Charles Cadogan 及家族47 英国房地产71 Up222 Frank Lowy 及家族46 澳大利亚购物中心77 Same222 Paul Desmarais 46 加拿大金融81 Up222 Lester Crown 及家族46 美国投资82 Up222 Gustavo Cisneros 及家族46 委内瑞拉传媒62 Down222 Stef Wertheimer 及家族46 以色列工具82 Up227 Martin & Olivier Bouygues45 法国建筑业、传媒55 Same227 William Cook 45 美国医疗器材76 Up 227 William Davidson 45 美国玻璃85 Up 227 Charles Johnson 45 美国富兰克林资源75 Down 227 Paul Milstein 及家族45 美国移民、房地产85 Up 227 Stephen Ross 45 美国房地产67 Up 227 Nobutada Saji 及家族45 日本饮料62 Down 227 Lev Leviev 45 以色列钻石52 Up 227 Zhang Jindong 45 中国家电零售45 Up 236 Harold Hamm 44 美国洲际资源62 New236 Pauline MacMillan Keinath44 美国继承76 Up236 Cargill MacMillan Jr 44 美国继承80 Up 236 John MacMillan III 44 美国继承80 Up 236 Whitney MacMillan 44 美国继承79 Up 236 Marion MacMillan Pictet 44 美国继承76 Up 236 John Sall 44 美国SAS 58 Up236 Eitaro Itoyama 44 日本高尔夫球场65 Up 236 Indu Jain 44 印度传媒71 Up 236 Richard Branson 44 英国维珍集团57 Up 236 Peter Woo 及家族44 中国香港房地产62 Up 247 Henry Ross Perot 43 美国电脑服务、房地产77 Down 247 Jeronimo Arango 43 墨西哥零售业82 Same 247 Stein Erik Hagen 及家族43 挪威超市51 Up247 Mehmet Emin Karamehmet43 土耳其金融、电信63 Up247 Tsai Wan-Tsai 及家族43 中国台湾银行业78 Up 247 Joseph Lau 43 中国香港房地产56 Up 253 Elena Baturina 42 俄罗斯建筑业45 Up 253 Ralph Lauren 42 美国时尚68 Down 253 Ihor Kolomoyskyy 42 乌克兰银行业、投资Up 256 Leonard Stern 41 美国房地产69 Up 256 Ty Warner 41 美国豆豆娃玩具64 Down 256 Sarik Tara 41 土耳其建筑业77 Up 256 Shari Arison 41 以色列继承、游船50 Down260 Dietrich Mateschitz 40 奥地利红牛饮料63 Up260 Eliezer Steinbruch 及家族40 巴西钢铁Up260 Anton Schlecker 40 德国零售业63 Up 260 Vasily Anisimov 40 俄罗斯金属、房地产56 Up 260 Mikhail Balakin 40 俄罗斯建筑业46 New 260 Andrei Molchanov 40 俄罗斯建材、建筑业36 New 260 Leon Black 40 美国杠杆收购57 Up 260 Ray Dalio 40 美国对冲基金58 New 260 Ray Hunt 40 美国石油、房地产65 Up 260 Herbert Kohler 及家族40 美国管子附件69 Down 260 Joan Tisch 40 美国娱乐影业82 Up 260 Chaleo Yoovidhya 40 泰国红牛饮料76 Up 260 Husnu Ozyegin 40 土耳其银行业63 Up 260 Henadiy Boholyubov 40 乌克兰银行业、投资46 Up 260 Dilip Shanghvi 40 印度制药52 Up 260 Simon Halabi 40 英国房地产58 Down 260 Hui Wing Mau 40 中国香港房地产57 Up277 Madeleine Schickedanz 39 德国零售业64 Down 277 Gleb Fetisov 39 俄罗斯电信、银行业41 Up 277 George Lucas 39 美国星球大战63 Up 277 Stephen Wynn 39 美国博彩、酒店业66 Up 277 Jaiprakash Gaur 39 印度多元投资77 Up 277 Shiv Nadar 39 印度信息技术62 Down 277 Lu Zhiqiang 39 中国建材、建筑业55 New 284 Rupert Johnson Jr 38 美国富兰克林资源66 Down 284 John Simplot 及家族38 美国土豆、芯片99 Up 284 Johann Rupert 及家族38 南非奢侈品57 Down 284 Sukanto Tanoto 38 印度尼西亚造纸、棕榈油58 New 288 Heidi Horten 37 奥地利百货商场67 Up 288 Aloysio de Andrade Faria 37 巴西银行业87 Down 288 Richard DeVos 37 美国安达高公司82 Up 288 Gordon Moore 37 美国英特尔79 Up 288 Steven Udvar-Hazy 37 美国国际租赁金融62 Up 288 Stephan Schmidheiny 37 瑞士投资60 Up 288 Uday Kotak 37 印度银行业49 Up288 Bernard Ecclestone 及家族37 英国一级方程式赛车77 Up296 Otto Happel 36 德国工程60 Up 296 Mike Lazaridis 36 加拿大科技47 Up 296 Jeffrey Skoll 36 加拿大电子港湾43 Down 296 Bradley Hughes 36 美国大众仓储74 Down 296 Daniel Och 36 美国对冲基金47 New 296 Richard Schulze 36 美国百思买67 Down 296 John Sobrato 及家族36 美国房地产68 Up 296 Tadashi Yanai 及家族36 日本零售业59 Down 296 Walter Haefner 36 瑞士软件97 Down 296 Nicolas Hayek 36 瑞士斯沃琪79 Up 296 Beny Steinmetz 36 以色列自然资源、房地产51 Up307 Bjorgolfur Thor Bjorgolfsson35 冰岛多元投资41 Same307 Stefan Schorghuber 35 德国房地产46 Up 307 Roustam Tariko 35 俄罗斯银行业、伏特加46 Down 307 Riley Bechtel 35 美国工程、建筑55 Up 307 Stephen Bechtel Jr 35 美国工程、建筑82 Up307 Ronald Burkle 35 美国超市、投资55 Up 307 Ray Dolby 35 美国杜比实验室75 Up 307 Stanley Druckenmiller 35 美国对冲基金54 Up 307 Bruce Kovner 35 美国对冲基金63 Up 307 Edward Lampert 35 美国投资45 Down 307 Ira Rennert 35 美国投资74 Up 307 Patrick Soon-Shiong 35 美国普通药物56 Same 307 Daniel Ziff 35 美国继承、对冲基金36 Up 307 Dirk Ziff 35 美国继承、对冲基金43 Up 307 Robert Ziff 35 美国继承、对冲基金41 Up307 Charoen Sirivadhanabhakdi35 泰国酒精饮料63 Up307 Manuel Jove 35 西班牙房地产66 Same 307 Yitzhak Tshuva 35 以色列房地产59 Down 307 Cyrus Poonawalla 35 印度生物科技66 Up 307 Wong Kwong Yu 35 中国家电零售38 Up 327 James Balsillie 34 加拿大科技47 Up 327 Haim Saban 34 美国电视63 Up327 Dennis Washington 34 美国建筑业、采矿73 Up 327 Kostyantin Zhevago 34 乌克兰银行业、采矿34 Up 327 Anand Jain 34 印度塑料袋51 New 327 Huang Wei 及家族34 中国房地产48 New 327 Chen Din Hwa 34 中国香港房地产85 Up 334 Patokh Chodiev 33 比利时采矿、金属55 Up 334 Andrei Skoch 33 俄罗斯钢铁、采矿42 Up 334 Alijan Ibragimov 33 哈萨克斯坦采矿、金属54 Up 334 Bernard (Barry) Sherman 33 加拿大药物66 Down 334 Teh Hong Piow 33 马来西亚银行业78 Up 334 David Bonderman 33 美国杠杆收购65 New 334 Paul Tudor Jones II 33 美国对冲基金53 Up334 Peter Kellogg 33 美国投资65 Down 334 Leonard Lauder 33 美国雅诗兰黛75 Down334 Evgeny (Eugene) Shvidler33 美国米尔豪斯资本公司44 Up334 Aliko Dangote 33 尼日利亚糖、面粉、水泥制造业New 334 Saad Hariri 33 沙特阿拉伯建筑业、投资37 Up334 Esther Koplowitz 33 西班牙建筑业57 Down 334 Alexander Machkevich 33 以色列采矿、金属54 Up 334 Clive Calder 33 英国唱片业61 Up 349 Albert Frere 32 比利时投资82 Up 349 Klaus Tschira 32 德国SAP 67 Up 349 Robert Miller 32 加拿大电子元器件62 Up 349 Edgar Bronfman Sr 32 美国酒精饮料78 Up 349 Ronald Lauder 32 美国雅诗兰黛64 Up 349 George Mitchell 32 美国能源88 Up 349 Bahaa Hariri 32 瑞士继承41 Up 349 Abdullah Al Rajhi 32 沙特阿拉伯银行业Up 349 Michael Ying 32 中国香港时装58 Up 358 Filaret Galchev 31 俄罗斯水泥45 Up 358 Alexander Lebedev 31 俄罗斯股票、银行业48 Down 358 Wallace McCain 31 加拿大食品78 Up 358 Min Kao 31 美国导航设备59 Up358 A Jerrold Perenchio 31 美国广播通信77 Up358 Carl Pohlad 31 美国银行业92 Up358 Sergio Mantegazza 31 瑞士旅游80 Up 358 Arnon Milchan 31 以色列电影制作63 Up358 David & Frederick Barclay31 英国传媒、零售业74 Up358 Zhang Li 31 中国房地产55 Up 368 Majid Al Futtaim 30 阿联酋房地产、零售业Up 368 Heinz-Horst Deichmann 30 德国制鞋81 Up 368 Gunter Herz 30 德国咖啡67 Up 368 Joachim Herz 30 德国咖啡65 Up 368 Hugo Mann 及家族30 德国零售业94 Up 368 Lee Bass 30 美国石油、投资51 Same 368 Sid Bass 30 美国石油、投资65 Same 368 Kenneth Griffin 30 美国对冲基金39 Up 368 Diane Hendricks 30 美国继承61 New 368 Henry Hillman 30 美国工业89 Same 368 Richard LeFrak 及家族30 美国房地产62 New 368 John Paulson 30 美国对冲基金52 New 368 T Boone Pickens 30 美国石油、天然气、投资79 Up368 Richard Rainwater 30 美国房地产、能源、保险63 Up 368 Donald Schneider 30 美国公路运输72 Up 368 Steven Spielberg 30 美国电影61 Same 368 Ronda Stryker 30 美国史赛克公司53 Up 368 Donald Trump 30 美国房地产61 Up 368 Olav Thon 30 挪威房地产84 Up368 Sulaiman Algosaibi30 沙特阿拉伯多元投资Up368 Isak Andic 30 西班牙纺织品、时装53 Down 368 Rosalia Mera 30 西班牙时装64 Down 368 Chandru Raheja 30 印度多元投资67 New 368 Tulsi Tanti 30 印度风能50 Up 368 Joseph Lewis 30 英国金融71 Up 368 Liang Wengen 30 中国机械51 Up 368 Zhang Xin 及家族30 中国房地产43 New 368 Larry Yung 30 中国香港多元投资66 Up 396 Samih Sawiris 29 埃及酒店业51 Up 396 Shi Zhengrong 29 澳大利亚太阳能45 Up396 Heinz Bauer 29 德国出版业68 Up 396 Daniela Herz 29 德国咖啡54 Up 396 Axel Oberwelland 29 德国糖果41 Up。
2008年美国多项服装类别进口单价下滑
O71
．
1 2
．
2 62
．
O2 1
．
10 0 99 96
1 15
．
．
2 92
2 63
．
0 13
．
第4 季
0 49
．
．
3 73
．
97
2 53
．
4 19
．
口
单价 下 跌 8 ％ ； 女 用 化 纤 质 针 织 衫
口 单价 也 同 样 下 滑 8 ％ ；
令人感 到意 外 是 男棉裤 (3 4 7 类 ) 及 棉 质 内衣 (3 5 2 类 ) 等项 目
D OZ
D D D
OZ
，
4
．
5 6 l
．
98
94
30 2 1
．
．
97
98
O6
．
．
6 -3 7
—
33 62
．
5 27
．
第4 季
OZ OZ
4 45
．
3 1
． ．
93 10 2
10 2
3 1 71
．
．
4 14
．
．
96
l OO
第 1季 第2 季 第3 季 第4 季 第l季 第2 季 第3 季 第4 季
‘
男裤
进
口
2 0 0 8 年第 4
3 季 棉 质 内衣 【5 2 类 ) 较
，
(6 3 9 类 ) 进
■
前
一
年 同期上 涨4 ％
。
较2 0 0 6 年 同 期
男 用 化 纤 裤 (6 4 7 类 ) 进
4％
General Price list 2006-2007
OMPKMM NVMKTM NVMKTM NVMKTM NTTKPM NSPKMM NPMKOM NPMKOM NPMKOM NQMKQM NQMKQM NSTKNM NUVKSM OMQKMM
!F
!"#$%&'()*+,E
3
Sâ^
! MKR^ N^ O^ P^ Q^ S^ NM^ NS^ OM^ OR^ PO^ QM^ RM^ SP^ a a a a a a a a a a a a a a jaNMMm jaNMNm jaNMOm jaNMPm jaNMQm jaNMSm jaNNMm jaNNSm jaNOMm jaNORm jaNPOm jaNQMm jaNRMm jaNSPm NO NO NO NO NO NO NO NO NO NO NO NO NO NO !
a a a a a a a a a a a a a a
jaQMMm jaQMNm jaQMOm jaQMPm jaQMQm jaQMSm jaQNMm jaQNSm jaQOMm jaQORm jaQPOm jaQQMm jaQRMm jaQSPm
P P P P P P P P P P P P P P
!"`
E QUKNM QUKNM QUKNM QUKNM QUKNM PVKTM ==OVKPM ==OVKPM ==OVKPM ==PPKQM ==PPKQM ==PVKTM ==QUKNM ==RPKPM F
MKR^ N^ O^ P^ Q^ S^ NM^ NS^ OM^ OR^ PO^ QM^ RM^ SP^
a a a a a a a a a a a a a a
jaOMMm jaOMNm jaOMOm jaOMPm jaOMQm jaOMSm jaONMm jaONSm jaOOMm jaOORm jaOPOm jaOQMm jaORMm jaOSPm
Munze - Geschaftsbericht 2008
03 3பைடு நூலகம்
MÜ NZE Ö ST ER REICH AG
2008
Balance Sheet Profit & Loss Statement Status Report Participations Contact Imprint
VORWORT
Qualität prägt unser Unternehmen
AUFSICHTSRAT VORSTAND STAATSKOMMISSÄRE
VORSTAND (bis 15. Juli 2008) EXECUTIVE BOARD (until July 15th, 2008)
SUPERVISORY BOARD EXECUTIVE BOARD BANK SUPERVISORS
Kurt Meyer
Gerhard Starsich
07
MÜ NZE Ö ST ER REICH AG
2008
EDELMETALL beim Umgießen PRECIOUS METALS being moulded
GERHARD BAUER
Edelmetallschmelze precious metal melt
Die Münze Österreich gilt heute als führende Prägestätte auf dem neuesten Stand der Technik und mit allen Chancen für die Zukunft. Der Grund dafür sind natürlich vor allem unsere Münzen, wie der weltweit erfolgreiche Wiener Philharmoniker oder die innovativen SilberNiob-Münzen, um nur zwei Spitzenprodukte zu nennen. Auch mehr als 800 Jahre Unternehmensgeschichte sind ein solides Fundament, um zuversichtlich in die Zukunft zu blicken. Und nicht zuletzt die Freude unserer engagierten Mitarbeiter und Mitarbeiterinnen, international ihr Können zu beweisen, ist ein guter Grund, selbstbewusst zu sein: Wir wollen heute jene Münzen gestalten, die morgen begeistern. In unserem Haus verschmelzen traditionelles Handwerk und technologische Innovation zu sicheren Werten. Taler, Dukaten, Gulden, Kronen, Schilling, Euro. Zu allen Zeiten waren und sind unsere Münzen und Medaillen „State of the Art“ – künstlerisch und produktionstechnisch. Und so fügt sich auch 2008 als überaus erfolgreiches Jahr in unsere Geschichte ein. Der Mensch ist bei uns das Maß aller Dinge. Künstler, Graveure, Gießer, Maschinenbauer, Schlosser, Präger, Prozessmanager – Männer und Frauen, die kraft ihres Wissens, ihres Könnens, ihres technischen Erfindungsgeistes und nicht zuletzt dank ihrer Liebe zur Perfektion Kunstwerke von bleibendem Wert schaffen. Künstlerisches Handwerk versus vollautomatisierte Produktionsanlagen: Nur im präzisen Zusammenspiel zwischen menschlicher Kreativität und technischer Effizienz, nur im harmonischen Gleichklang zwischen künstlerischer Freiheit und rigorosen Qualitätskontrollen ist es möglich, am Weltmarkt mit Spitzenleistungen zu reüssieren. So sind wir verpflichtet und motiviert, diesen hohen internationalen Standard nicht nur zu erhalten, sondern auch weiterzuentwickeln.
HullOFODeSolutionsCh第九版期权期货及其他衍生品课后答案
CHAPTER 3Hedging Strategies Using FuturesPractice QuestionsProblem 3.1.Under what circumstances are (a) a short hedge and (b) a long hedge appropriate?A short hedge is appropriate when a company owns an asset and expects to sell that asset in the future. It can also be used when the company does not currently own the asset but expects to do so at some time in the future. A long hedge is appropriate when a company knows it will have to purchase an asset in the future. It can also be used to offset the risk from an existing short position.Problem 3.2.Explain what is meant by basis risk when futures contracts are used for hedging.Basis risk arises from the hedger’s uncertainty as to the difference between the spot price and futures price at the expiration of the hedge.Problem 3.3.Explain what is meant by a perfect hedge. Does a perfect hedge always lead to a better outcome than an imperfect hedge? Explain your answer.A perfect hedge is one that completely eliminates the hedger’s risk. A p erfect hedge does not always lead to a better outcome than an imperfect hedge. It just leads to a more certain outcome. Consider a company that hedges its exposure to the price of an asset. Suppose the asset’s price movements prove to be favorable to the company. A perfect hedge totally neutralizes the company’s gain from these favorable price movements. An imperfect hedge, which only partially neutralizes the gains, might well give a better outcome.Problem 3.4.Under what circumstances does a minimum-variance hedge portfolio lead to no hedging at all?A minimum variance hedge leads to no hedging when the coefficient of correlation between the futures price changes and changes in the price of the asset being hedged is zero.Problem 3.5.Give three reasons why the treasurer of a company might not hedge the company’s exposure to a particular risk.(a) If the company’s competitors are not hedging, the treasurer might feel that the company will experience less risk if it does not hedge. (See Table 3.1.) (b) The shareholders might not want the company to hedge because the risks are hedged within their portfolios. (c) If there is a loss on the hedge and a gain from the company’s exposure to the underlying asset, the treasurer might feel that he or she will have difficulty justifying the hedging to other executives within the organization.Problem 3.6.Suppose that the standard deviation of quarterly changes in the prices of a commodity is $0.65, the standard deviation of quarterly changes in a futures price on the commodity is $0.81, and the coefficient of correlation between the two changes is 0.8. What is the optimal hedge ratio for a three-month contract? What does it mean?The optimal hedge ratio is 065080642081..⨯=.. This means that the s ize of the futures position should be 64.2% of the size of the company’s exposure in a three-month hedge.Problem 3.7.A company has a $20 million portfolio with a beta of 1.2. It would like to use futures contracts on a stock index to hedge its risk. The index futures is currently standing at 1080, and each contract is for delivery of $250 times the index. What is the hedge that minimizes risk? What should the company do if it wants to reduce the beta of the portfolio to 0.6?The formula for the number of contracts that should be shorted gives 20000000128891080250,,.⨯=.⨯ Rounding to the nearest whole number, 89 contracts should be shorted. To reduce the beta to 0.6, half of this position, or a short position in 44 contracts, is required.Problem 3.8.In the corn futures contract, the following delivery months are available: March, May, July, September, and December. State the contract that should be used for hedging when the expiration of the hedge is in a) June, b) July, and c) JanuaryA good rule of thumb is to choose a futures contract that has a delivery month as close aspossible to, but later than, the month containing the expiration of the hedge. The contracts that should be used are therefore(a) July(b)September(c)MarchProblem 3.9.Does a perfect hedge always succeed in locking in the current spot price of an asset for a future transaction? Explain your answer.No. Consider, for example, the use of a forward contract to hedge a known cash inflow in a foreign currency. The forward contract locks in the forward exchange rate — which is in general different from the spot exchange rate.Problem 3.10.Explain why a short hedger’s position improves when the basis strengthens unexpectedly and worsens when the basis weakens unexpectedly.The basis is the amount by which the spot price exceeds the futures price. A short hedger is long the asset and short futures contracts. The value of his or her position therefore improves as the basis increases. Similarly, it worsens as the basis decreases.Problem 3.11.Imagine you are the treasurer of a Japanese company exporting electronic equipment to the United States. Discuss how you would design a foreign exchange hedging strategy and the arguments you would use to sell the strategy to your fellow executives.The simple answer to this question is that the treasurer should1.Estimate the company’s future cash flows in Japanese yen and U.S. dollars2.Enter into forward and futures contracts to lock in the exchange rate for the U.S. dollarcash flows.However, this is not the whole story. As the gold jewelry example in Table 3.1 shows, the company should examine whether the magnitudes of the foreign cash flows depend on the exchange rate. For example, will the company be able to raise the price of its product in U.S. dollars if the yen appreciates? If the company can do so, its foreign exchange exposure may be quite low. The key estimates required are those showing the overall effect on the company’s profitability of changes in the exchange rate at various times in the future. Once these estimates have been produced the company can choose between using futures and options to hedge its risk. The results of the analysis should be presented carefully to other executives. It should be explained that a hedge does not ensure that profits will be higher. It means that profit will be more certain. When futures/forwards are used both the downside and upside are eliminated. With options a premium is paid to eliminate only the downside.Problem 3.12.Suppose that in Example 3.2 of Section 3.3 the company decides to use a hedge ratio of 0.8. How does the decision affect the way in which the hedge is implemented and the result?If the hedge ratio is 0.8, the company takes a long position in 16 December oil futures contracts on June 8 when the futures price is $88.00. It closes out its position on November 10. The spot price and futures price at this time are $90.00 and $89.10. The gain on the futures position is(89.10 − 88.00) × 16,000 = 17,600The effective cost of the oil is therefore20,000 × 90 – 17,600 = 1,782, 400or $89.12 per barrel. (This compares with $88.90 per barrel when the company is fully hedged.)Problem 3.13.“If the minimum -variance hedge ratio is calculated as 1.0, the hedge must be perfect." Is this statement true? Explain your answer.The statement is not true. The minimum variance hedge ratio is S Fσρσ It is 1.0 when 05=.ρ and 2S F =σσ. Since 10<.ρ the hedge is clearly not perfect.Problem 3.14.“If there is no basis risk, the minimum variance hedge ratio is always 1.0." Is this statement true? Explain your answer.The statement is true. Using the notation in the text, if the hedge ratio is 1.0, the hedger locks in a price of 12F b +. Since both 1F and 2b are known this has a variance of zero and must be the best hedge.Problem 3.15“For an asset where futures prices for contracts on the asset are usually less than spot prices, long hedges are likely to be particularly attractive." Explain this statement.A company that knows it will purchase a commodity in the future is able to lock in a price close to the futures price. This is likely to be particularly attractive when the futures price is less than the spot price.Problem 3.16.The standard deviation of monthly changes in the spot price of live cattle is (in cents per pound)1.2. The standard deviation of monthly changes in the futures price of live cattle for the closestcontract is 1.4. The correlation between the futures price changes and the spot price changes is 0.7. It is now October 15. A beef producer is committed to purchasing 200,000 pounds of live cattle on November 15. The producer wants to use the December live-cattle futures contracts to hedge its risk. Each contract is for the delivery of 40,000 pounds of cattle. What strategy should the beef producer follow?The optimal hedge ratio is 12070614..⨯=.. The beef producer requires a long position in 20000006120000⨯.=, lbs of cattle. The beef producer should therefore take a long position in 3 December contracts closing out the position on November 15.Problem 3.17.A corn farmer argues “I do not use futures co ntracts for hedging. My real risk is not the price of corn. It is that my whole crop gets wiped out by the weather.”Discuss this viewpoint. Should the farmer estimate his or her expected production of corn and hedge to try to lock in a price for expected production?If weather creates a significant uncertainty about the volume of corn that will be harvested, the farmer should not enter into short forward contracts to hedge the price risk on his or her expected production. The reason is as follows. Suppose that the weather is bad and the farmer’sproduction is lower than expected. Other farmers are likely to have been affected similarly. Corn production overall will be low and as a consequence the price of corn will be relatively high. The farmer’s problems arising from the bad harvest will be made worse by losses on the short futures position. This problem emphasizes the importance of looking at the big picture when hedging. The farmer is correct to question whether hedging price risk while ignoring other risks is a good strategy.Problem 3.18.On July 1, an investor holds 50,000 shares of a certain stock. The market price is $30 per share. The investor is interested in hedging against movements in the market over the next month and decides to use the September Mini S&P 500 futures contract. The index is currently 1,500 and one contract is for delivery of $50 times the index. The beta of the stock is 1.3. What strategy should the investor follow? Under what circumstances will it be profitable?A short position in 50000301326501500,⨯.⨯=⨯,contracts is required. It will be profitable if the stock outperforms the market in the sense that its return is greater than that predicted by the capital asset pricing model.Problem 3.19.Suppose that in Table 3.5 the company decides to use a hedge ratio of 1.5. How does the decision affect the way the hedge is implemented and the result?If the company uses a hedge ratio of 1.5 in Table 3.5 it would at each stage short 150 contracts. The gain from the futures contracts would be.1=⨯50.2$5570.1per barrel and the company would be $0.85 per barrel better off than with a hedge ratio of 1.Problem 3.20.A futures contract is used for hedging. Explain why the daily settlement of the contract can give rise to cash flow problems.Suppose that you enter into a short futures contract to hedge the sale of an asset in six months. If the price of the asset rises sharply during the six months, the futures price will also rise and you may get margin calls. The margin calls will lead to cash outflows. Eventually the cash outflows will be offset by the extra amount you get when you sell the asset, but there is a mismatch in the timing of the cash outflows and inflows. Your cash outflows occur earlier than your cash inflows.A similar situation could arise if you used a long position in a futures contract to hedge the purchase of an asset at a future time and the asset’s price fe ll sharply. An extreme example of what we are talking about here is provided by Metallgesellschaft (see Business Snapshot 3.2).Problem 3.21.An airline executive has argued: “There is no point in our using oil futures. There is just as much chance that the price of oil in the future will be less than the futures price as there is that it will be greater than this price.” Discuss the executive’s viewpoint.It may well be true that there is just as much chance that the price of oil in the future will be above the futures price as that it will be below the futures price. This means that the use of a futures contract for speculation would be like betting on whether a coin comes up heads or tails. But it might make sense for the airline to use futures for hedging rather than speculation. The futures contract then has the effect of reducing risks. It can be argued that an airline should not expose its shareholders to risks associated with the future price of oil when there are contracts available to hedge the risks.Problem 3.22.Suppose the one-year gold lease rate is 1.5% and the one-year risk-free rate is 5.0%. Both rates are compounded annually. Use the discussion in Business Snapshot 3.1 to calculate the maximum one-year forward price Goldman Sachs should quote for gold when the spot price is $1,200.Goldman Sachs can borrow 1 ounce of gold and sell it for $1200. It invests the $1,200 at 5% so that it becomes $1,260 at the end of the year. It must pay the lease rate of 1.5% on $1,200. This is $18 and leaves it with $1,242. It follows that if it agrees to buy the gold for less than $1,242 in one year it will make a profit.Problem 3.23.The expected return on the S&P 500 is 12% and the risk-free rate is 5%. What is the expected return on the investment with a beta of (a) 0.2, (b) 0.5, and (c) 1.4?a)00502(012005)0064.+.⨯.-.=. or 6.4%b)00505(012005)0085.+.⨯.-.=. or 8.5%c)00514(012005)0148.+.⨯.-.=. or 14.8%Further QuestionsProblem 3.24.It is now June. A company knows that it will sell 5,000 barrels of crude oil in September.It uses the October CME Group futures contract to hedge the price it will receive. Each contract is on 1,000 barrels of ‘‘light sweet crude.’’ What position should it take? What price risks is it still exposed to after taking the position?It should short five contracts. It has basis risk. It is exposed to the difference between the October futures price and the spot price of light sweet crude at the time it closes out its position in September. It is also possibly exposed to the difference between the spot price of light sweet crude and the spot price of the type of oil it is selling.Problem 3.25.Sixty futures contracts are used to hedge an exposure to the price of silver. Each futures contract is on 5,000 ounces of silver. At the time the hedge is closed out, the basis is $0.20per ounce. What is the effect of the bas is on the hedger’s financial position if (a) the traderis hedging the purchase of silver and (b) the trader is hedging the sale of silver?The excess of the spot over the futures at the time the hedge is closed out is $0.20 per ounce. If the trader is hedging the purchase of silver, the price paid is the futures price plus the basis. Thetrader therefore loses 60×5,000×$0.20=$60,000. If the trader is hedging the sales of silver, the price received is the futures price plus the basis. The trader therefore gains $60,000.Problem 3.26.A trader owns 55,000 units of a particular asset and decides to hedge the value of her position with futures contracts on another related asset. Each futures contract is on 5,000 units. The spot price of the asset that is owned is $28 and the standard deviation of the change in this price over the life of the hedge is estimated to be $0.43. The futures price of the related asset is $27 and the standard deviation of the change in this over the life of the hedge is $0.40. The coefficient of correlation between the spot price change and futures price change is 0.95.(a) What is the minimum variance hedge ratio?(b) Should the hedger take a long or short futures position?(c) What is the optimal number of futures contracts with no tailing of the hedge?(d) What is the optimal number of futures contracts with tailing of the hedge?(a) The minimum variance hedge ratio is 0.95×0.43/0.40=1.02125.(b) The hedger should take a short position.(c) The optimal number of contracts with no tailing is 1.02125×55,000/5,000=11.23 (or 11 when rounded to the nearest whole number)(d) The optimal number of contracts with tailing is 1.012125×(55,000×28)/(5,000×27)=11.65 (or 12 when rounded to the nearest whole number).Problem 3.27.A company wishes to hedge its exposure to a new fuel whose price changes have a 0.6correlation with gasoline futures price changes. The company will lose $1 million for each 1 cent increase in the price per gallon of the new fuel over the next three months. The new fuel's price change has a standard deviation that is 50% greater than price changes in gasoline futures prices. If gasoline futures are used to hedge the exposure what should the hedge ratio be? What is the company's exposure measured in gallons of the new fuel? What position measured in gallons should the company take in gasoline futures? How many gasoline futures contracts should be traded? Each contract is on 42,000 gallons.Equation (3.1) shows that the hedge ratio should be 0.6 × 1.5 = 0.9. The company has anexposure to the price of 100 million gallons of the new fuel. It should therefore take a position of 90 million gallons in gasoline futures. Each futures contract is on 42,000 gallons. The number of contracts required is therefore9.2142000,42000,000,90 or, rounding to the nearest whole number, 2143.Problem 3.28.A portfolio manager has maintained an actively managed portfolio with a beta of 0.2. During the last year the risk-free rate was 5% and equities performed very badly providing a return of−30%. The portfolio manage produced a return of −10% and claims that in the circumstances it was good. Discuss this claim.When the expected return on the market is −30% the expected return on a portfolio with a beta of 0.2 is0.05 + 0.2 × (−0.30 − 0.05) = −0.02or –2%. The actual return of –10% is worse than the expected return. The portfolio manager done 8% worse than a simple strategy of forming a portfolio that is 20% invested in an equity index and 80% invested in risk-free investments. (The manager has achieved an alpha of –8%!)Problem 3.29. (Excel file)The following table gives data on monthly changes in the spot price and the futures price for a certain commodity. Use the data to calculate a minimum variance hedge ratio.Denote i x and i y by the i -th observation on the change in the futures price and the change in the spot price respectively.096130i i x y =.=.∑∑222447423594i i x y =.=.∑∑2352i i x y =.∑ An estimate of F σ is05116=. An estimate of S σ is04933=.An estimate of ρ is0981=.The minimum variance hedge ratio is049330981094605116SF.=.⨯=..σρσProblem 3.30.It is July 16. A company has a portfolio of stocks worth $100 million. The beta of the portfolio is 1.2. The company would like to use the December futures contract on a stock index to change beta of the portfolio to 0.5 during the period July 16 to November 16. The index is currently1,000, and each contract is on $250 times the index.a)What position should the company take?b)Suppose that the company changes its mind and decides to increase the beta of theportfolio from 1.2 to 1.5. What position in futures contracts should it take?a)The company should short(1205)1000000001000250.-.⨯,,⨯or 280 contracts.b)The company should take a long position in(1512)1000000001000250.-.⨯,,⨯or 120 contracts.Problem 3.31. (Excel file)A fund manager has a portfolio worth $50 million with a beta of 0.87. The manager is concerned about the performance of the market over the next two months and plans to use three-month futures contracts on the S&P 500 to hedge the risk. The current level of the index is 1250, one contract is on 250 times the index, the risk-free rate is 6% per annum, and the dividend yield on the index is 3% per annum. The current 3 month futures price is 1259.a)What position should the fund manager take to eliminate all exposure to the market overthe next two months?b)Calculate the effect of your strategy on the fund manager’s returns if the level of themarket in two months is 1,000, 1,100, 1,200, 1,300, and 1,400. Assume that the one-month futures price is 0.25% higher than the index level at this time.a) The number of contracts the fund manager should short is 50000000087138201259250,,.⨯=.⨯ Rounding to the nearest whole number, 138 contracts should be shorted.b) The following table shows that the impact of the strategy. To illustrate the calculations in the table consider the first column. If the index in two months is 1,000, the futures price is 1000×1.0025. The gain on the short futures position is therefore(1259100250)2501388849250$-.⨯⨯=,,The return on the index is 3212⨯/=0.5% in the form of dividend and250125020%-/=- in the form of capital gains. The total return on the index istherefore 195%-.. The risk-free rate is 1% per two months. The return is therefore205%-. in excess of the risk-free rate. From the capital asset pricing model we expect the return on the portfolio to be 0872*******%%.⨯-.=-. in excess of the risk-free rate. The portfolio return is therefore 16835%-.. The loss on the portfolio is01683550000000.⨯,, or $8,417,500. When this is combined with the gain on the futures the total gain is $431,750.Problem 3.32.It is now October 2014. A company anticipates that it will purchase 1 million pounds of copper in each of February 2015, August 2015, February 2016, and August 2016. The company has decided to use the futures contracts traded in the COMEX division of the CME Group to hedge its risk. One contract is for the delivery of 25,000 pounds of copper. The initial margin is $2,000per contract a nd the maintenance margin is $1,500 per contract. The company’s policy is to hedge 80% of its exposure. Contracts with maturities up to 13 months into the future are considered to have sufficient liquidity to meet the company’s needs. Devise a hedging stra tegy for the company. (Do not make the “tailing” adjustment described in Section 3.4.)Assume the market prices (in cents per pound) today and at future dates are as follows. What is the impact of the strategy you propose on the price the company pays for copper? What is the initial margin requirement in October 2014? Is the company subject to any margin calls?To hedge the February 2015 purchase the company should take a long position in March 2015 contracts for the delivery of 800,000 pounds of copper. The total number of contracts required is 8000002500032,/,=. Similarly a long position in 32 September 2015 contracts is required to hedge the August 2015 purchase. For the February 2016 purchase the company could take a long position in 32 September 2015 contracts and roll them into March 2016 contracts during August 2015. (As an alternative, the company could hedge the February 2016 purchase by taking a long position in 32 March 2015 contracts and rolling them into March 2016 contracts.) For the August 2016 purchase the company could take a long position in 32 September 2015 and roll them into September 2016 contracts during August 2015.The strategy is therefore as followsOct. 2014: Enter into long position in 96 Sept. 2015 contractsEnter into a long position in 32 Mar. 2015 contractsFeb 2015: Close out 32 Mar. 2015 contractsAug 2015: Close out 96 Sept. 2015 contractsEnter into long position in 32 Mar. 2016 contractsEnter into long position in 32 Sept. 2016 contractsFeb 2016: Close out 32 Mar. 2016 contractsAug 2016: Close out 32 Sept. 2016 contractsWith the market prices shown the company pays.+.⨯.-.=.3690008(3723036910)37156for copper in February, 2015. It pays.+.⨯.-.=.3650008(3728036480)37140for copper in August 2015. As far as the February 2016 purchase is concerned, it loses 3728036480800.-.=. on the .-.=. on the September 2015 futures and gains 37670364301240 February 2016 futures. The net price paid is therefore.+.⨯.-.⨯.=.377000880008124037348.-.=. on theAs far as the August 2016 purchase is concerned, it loses 3728036480800.-.=. on the September 2016 futures. The September 2015 futures and gains 38820364202400net price paid is therefore388000880008240037520.+.⨯.-.⨯.=.The hedging strategy succeeds in keeping the price paid in the range 371.40 to 375.20.In October 2014 the initial margin requirement on the 128 contracts is 1282000$⨯, or $256,000. There is a margin call when the futures price drops by more than 2 cents. This happens to the March 2015 contract between October 2014 and February 2015, to the September 2015 contract between October 2014 and February 2015, and to the September 2015 contract between February 2015 and August 2015. (Under the plan above the March 2016 contract is not held between February 2015 and August 2015, but if it were there would be a margin call during this period.)。
【国家社会科学基金】_有效适用_基金支持热词逐年推荐_【万方软件创新助手】_20140803
科研热词 公用企业 香港 障碍 课程方案评价 要件重构 能力评估 美国"跟进计划"(project follow through) 管辖权 竞争 直接教学 目的国标准 留置送达 理论框架 特权 滥用市场支配地位 涉网侵权 民营化 民事诉讼 模式选择 机构养老 普选权 新疆 教学评价 教学改革 教学 政党执政规律 接受国标准 探讨 折子戏 战略选择 戏曲 恐怖主义 应急管理 多媒体 基础设施条款 域外送达 城镇 场所化 国有企业 反垄断审查 危害国家安全 卡特尔 关系 公民权利和政治权利国际公约 公共事业 传媒运行规律 专利联盟 不可适用性
2008年 序号 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
科研热词 赦免 资本存量 贸易效应 让步 警惕系数 脉冲响应函数 经济增长 竞争政策执行 竞争 社会福利 知识产权 理论依据 洛伦茨曲线 民族地区农村 正当性 有效需求 最高法院判决 方差分解 政策基础 收入流量 收入分配 推进 基础设施条款 国家法 卡莱斯基增长模型 卡特尔 刑事法治 刑事和解 价值追求 人民币汇制改革 johansen协整模型
推荐指数 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
2010年 序号 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50
【国家社会科学基金】_结构变化效应_基金支持热词逐年推荐_【万方软件创新助手】_20140812
科研热词 结构效应 经济增长 技术进步 工业化 产业结构 高校问责制 面板数据模型 面板数据 需求结构 配置效应 递归估计 边限协整 路径依赖 跨国研究 资本结构 计划生育 规模效应 要素产出弹性 西部大开发 营粮效应 营粮决策 范式 英语专业 自由现金流量 能源需求 股改效应 统计分析 结构影响 经济效应 粮食核心区 粮食 竞争模式 空间差异 科学素养 相对优势 生产率 理工科院校 物价水平 海南省 测度指标 油价冲击 汇率波动 格兰杰检验 服务外包 时变回归分析 旅游竞争力 新国际劳动分工 新制度主义 数据包络 改革 技术效应 微观机制
推荐指数 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
2010年 序号 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52
53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96
弹性系数 工资性收入 工业结构 工业碳排放 工业外包 就业效应 就业力 宏观经济 宏观效应 大陆 外出务工农户 增长效应 培养模式 城市空间重构 地区收入差距 地区差异 品种结构 品牌效应 台湾 去工业化 区域布局 劳动力转移 制度变迁 分配效应 出口贸易结构 农业投资 储蓄 传递 人民币汇率 人均co2 人口转变 产业间差距 产业用地 产业内贸易 产业内差距 二元经济结构 中国西南 中国航空运输业 中国 东盟自由贸易 svar mcmc fdi的利用质量 divisia分解
国外矿产品市场价格(2008-Ⅲ)
铜
现货三个月期货
７ ９６ Ｏ ３ ．５
３ ｌ ．８ １ ８０
７９． ３４０ ９
７９． ３８ Ｏ Ｏ
７ ９ ．８ ５ ６２
３ ２ ９ ２ ４． ８
７９ ． ５４４ ０
７９． ５ ８１ ５
铅
现货三个月期货
３５ ７ ０ ９． ８ ２７ ４ １ ６ ３． ８
３ ５ ．３ ０ ７９
５０ ６ ０ ５～ ５ ３～ ５ ３ ３ ２０ ２５ ４ ～ ７
３． ３２ ４． ４０
美元 ／ 瓶 美元 ／ 磅 美元 ／ 斤 公
美元 ／ 磅 美元 ／ 磅
钒氧化物 ：８ ９ ％Ｖ ， ０ 到岸 价
黑钨矿 ： 金：
银：
１． ５０
１５０ ７． ８１５ ７ ． ２
美 元 ／ 衡 盎 司 金 美 元 ／ 衡 盎 司 金 美 元 ／ 衡 盎 司 金 美 元 ／ 衡 盎 司 金
铑金属 ：． Ｊ 马瑟基价
钌 金 属 ：． 瑟 基 价 Ｊ马 资 料 来 源 ： ｎｎ ｏｒａ，ｕ ｅ１ ２０ ＭｉｉｇＪｕｎ ｌＪｎ ３，０ ８
９ ７ ５５
３０ ０
美元 ／ 金衡盎司
锰 金 属 ：９７ ９ ％
４． ９０ ０ ５５ ６ ５ ７ ～ ２
４ ５ ２０
美元 ／ 磅 美元 ／ 斤 公
美元 ／ 吨
汞金属 ： 自由市场 ，９９ ％ ９ ．９ 硒： 自由市场 ，９５ 到岸价 ９ ．％， 碲 ： 国团块 和粉末 ，９９ ％， 英 ９ ．５ 纯净
钼 氧 化 物 ： ５ ５ ％ ５ ％￣ ７ 钽 氧 化 物 ：０ 北 欧 港 口到 岸 价 ６ ％，
国 土 贫 ’ Ｊ 息惰 搬
国外矿产 品市场价格 （Ｏ ８ Ⅲ） ２Ｏ一
US NATURAL GAS PRICE 美国208-2014年天然气价格
பைடு நூலகம்
年份
2013年 美元/千 立方英 元/立方 尺 米 3.83 0.83 3.73 0.81 6.80 1.47 4.06 0.88 4.06 0.88 13.36 2.90 4.88 1.06 10.33 2.24 8.13 1.76 4.66 1.01 0.00 4.49 0.97
2014年6月 美元/千 立方英 元/立方 尺 米 4.79 1.04 4.52 0.98 10.48 2.27 4.81 1.04 4.81 1.04 12.58 2.73 5.96 1.29 16.06 3.48 9.78 2.12 5.37 1.16 4.98 1.08
年份
2014年1月 2014年2月 2014年3月 2014年4月 2014年5月 美元/千 美元/千 美元/千 美元/千 美元/千 立方英 元/立方 立方英 元/立方 立方英 元/立方 立方英 元/立方 立方英 元/立方 计价单位 尺 米 尺 米 尺 米 尺 米 尺 米 1、进口天然气价格 6.94 1.50 8.94 1.94 8.02 1.74 4.85 1.05 4.53 0.98 （1）管网气 6.94 1.50 8.91 1.93 8.02 1.74 4.66 1.01 4.5 0.98 （2）LNG 7.13 1.55 11.01 2.39 8.47 1.84 17.34 3.76 5.99 1.30 2、出口天然气价格 5.82 1.26 9.56 2.07 8.21 1.78 4.93 1.07 5.01 1.09 （1）管网气 5.81 1.26 9.44 2.05 8.2 1.78 4.93 1.07 4.82 1.05 （2）LNG 13.7 2.97 15.49 3.36 14.31 3.10 13.23 2.87 15.78 3.42 3、门站价 5.58 1.21 6.31 1.37 6.56 1.42 5.63 1.22 5.84 1.27 4、居民用气价 9.26 2.01 9.76 2.12 10.7 2.32 11.85 2.57 13.69 2.97 5、商业用气价 8.09 1.75 8.67 1.88 9.45 2.05 9.47 2.05 9.62 2.09 6、工业用气价 5.61 1.22 6.55 1.42 6.34 1.37 5.75 1.25 5.66 1.23 7、发电用气价格 7.46 1.62 7.78 1.69 6.28 1.36 5.25 1.14 5.08 1.10
ENR_Top_225_International_Contractors_&_Global_Contractors_(2008)
the demand intense for world-class con- by ENR’s Top 225 International Con- strength, growing 52.0% to $62.89 bil-
tractors with the size and expertise to tractors. The Top 225, as a group, gener- lion. Other big gainers included Europe
ᮢ
Top 225 Overview
By Peter Reina and Gary J. Tulacz
THE TOP
225
International Contractors
Prices Soar in a Boom Market
TThe global construction market continues to boom and large international contractors are reaping the benefits. The demand for big-ticket projects, from petroleum production facilities and powerplants to major infrastructure upgrades and signature buildings, has made
2.0 162.5
1 AUSTRALIA
1.7 140.6
10 OTHER
0.9
72.1
Europe
Total Revenue: $96.4 billion
Up 34.2%
FIRMS COUNTRY
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
Hirschmann Automation and Control GmbHIndustrial Networking Products (INET)Year 2008 Partner Price List release 1.0 - Confidential Part No.Item Description Packing unit China RMBPrice Av. Delivery Time LastOrd erDate LastDeliv eryDate Remarks943043001OSAH 2001￥2,184.9510 working days Audio hybrid transmitter (24 pin DIL design) for integration on application circuit boards.943044001OEAH 2001￥2,554.5010 working days Audio hybrid receiver (24 pin DIL design) for integration on application circuit boards.934101100OVK K 01 schwarz/black 20￥29.4610 working days Fiber optic coupling for plasic fiber 934101106OVK K 01 grau/grey 20￥29.4610 working days Fiber optic coupling for plasic fiber 936200001OVKS 2,2 schwarz/black 20￥25.8910 working days Fiber optic plug for plastic fiber 936200002OVKS 2,2 grau/grey 20￥25.8910 working days Fiber optic plug for plastic fiber 936205001OVK D 01 schwarz/black 1￥29.4610 working days Diode socket for mounting on PCB 936205002OVK D 01 grau/grey 20￥29.4610 working days Diode socket for mounting on PCB 936215009OVKD 01-B (LED 013)10￥351.6710 working days Diode socket with optical transmitting element 936215037OVKD 01 / SFH203P, Optische Empfangdiode 10￥222.0710 working days Diode socket with optical receiver element943299021OZDV 2451 G 1￥4,782.8810 working days RS-232 Glass-FO transceiver w/ internal power supply(via pin 11 on 18-pin D-sub)943316021OZDV 2451 P 1￥2,888.2910 working days RS-232 Plastic-FO transceiver w/ internal power supply(via pin 11 on 18-pin D-sub)943341021OZDV 2471 G 1￥3,183.7610 working days RS-232 Glass-MM FO transceiver with option for external power input (PSW 5-24 below)933990021OZDV 2471 G 13001￥9,877.4010 working days RS-232 Glass-SM FO transceiver with option for external power input (PSW 5-24 below)943340021OZDV 2471 P 1￥2,930.0110 working days RS-232 Plastic-FO transceiver with option for external power input (PSW 5-24 below)943008001PSW 5-24, Steckernetzteil 1￥1,260.22 4 weeks External power adapter for OZDV 2471 above 933920001OZDV HA Rail-Adapter 10￥114.7810 working days RS-232 transceiver DIN Rail Adaptor943776321OZD 485 G121￥14,134.9010 working days RS-485 transceiver, 1 electrical and 2 optical ports, multimode - support HIPER-Ring 943777321OZD 485 G12-13001￥29,751.4110 working days RS-485 transceiver, 1 electrical and 2 optical ports, singlemode - support HIPER-Ring 943893321OZD 485 G12 BAS 1￥6,812.0010 working days RS-485 transceiver BASIC, 1 electrical and 2 optical ports, multi-mode. Support star & bus/line topology ONLY.943894321OZD 485 G12 PRO 1￥9,536.8010 working days RS-485 transceiver PROFESSIONAL, 1 electrical and 2 optical ports, multimode - support HIPER-Ring 943895321OZD 485 G12-1300 PRO 1￥21,457.8010 working days RS-485 transceiver PROFESSIONAL, 1 electrical and 2 optical ports, singlemode - support HIPER-Ring 943290902OZD 485 Handbuch/manual 1￥388.2810 working days RS-485 transceiver technical manual 933847421OZD FIP G31￥10,643.7510 working days WORLDFIP/FIP transceiver, 1 electrical and 2 optical ports, multimode - support HIPER-Ring 933847521OZD FIP G3 T, Fiberoptic Module FIP 1￥10,643.7510 working days WORLDFIP/FIP transceiver, 1 electrical and 2 optical ports, singlemode - support HIPER-Ring 933989021OZD GENIUS G121￥14,049.7510 working days Genius transceiver, 1 electrical and 2 optical ports - support HIPER-Ring 934233021OZD GENIUS G12-13001￥26,328.3810 working days Genius transceiver, 1 electrical and 2 optical ports, singlemode - support HIPER-Ring 943740021OZD Modbus Plus G121￥10,984.3510 working days Modbus+ transceiver, 1 electrical and 2 optical ports - support HIPER-Ring 943821021OZD Modbus Plus G12-13001￥27,673.7510 working days Modbus+ transceiver, 1 electrical and 2 optical ports, singlemode - support HIPER-Ring 943728221OZD PROFI 12M P111￥5,194.1510 working days Profibus transceiver, 1 electrical and 1 optical ports, plastic FO 943728321OZD PROFI 12M P121￥6,386.2510 working days Profibus transceiver, 1 electrical and 2 optical ports, plastic FO - support HIPER-Ring 943727221OZD PROFI 12M G111￥7,152.6010 working days Profibus transceiver, 1 electrical and 1 optical port 943727321OZD PROFI 12M G121￥9,536.8010 working days Profibus transceiver, 1 electrical and 2 optical ports, multimode - support HIPER-Ring 943729221OZD PROFI 12M G11 13001￥20,436.0010 working days Profibus transceiver, 1 electrical and 1 optical port, singlemode 943729321OZD PROFI 12M G12 13001￥26,907.4010 working days Profibus transceiver, 1 electrical and 2 optical ports, singlemode - support HIPER-Ring 943730321OZD PROFI 12M G12 EEC 1￥13,624.0010 working days Profibus transceiver, 1 electrical and 2 optical ports, multimode - support HIPER-Ring, EEC (-20 to +60ºC)943256321OZD Profi 12M G12-1300 EEC 1￥30,313.4010 working days Profibus transceiver, 1 electrical and 2 optical ports, singlemode - support HIPER-Ring, EEC (-20 to +60ºC)943757321OZD PROFI 12M G12 PCB-T1, LP BELACKT 1on demand Profibus transceiver, 1 electrical and 2 optical ports, singlemode - support HIPER-Ring, Conformal coating 943887001OZD Profi G12 ATEX 1,LP bestückt 20￥3,746.6010 working days Profibus transceiver, 1 electrical and 2 optical ports, singlemode - support HIPER-Ring, ATEX approved 943883321OZD Profi G12DE ATEX 1,Profibus LWL-Rep 1￥25,204.4010 working days Profibus transceiver, 1 electrical and 2 optical ports, singlemode - support HIPER-Ring, ATEX approved 943882321OZD Profi G12DK ATEX 1, Profibus LWL-Rep 1￥22,649.9010 working days Profibus transceiver, 1 electrical and 2 optical ports, singlemode - support HIPER-Ring, ATEX approved 943881321OZD Profi G12DU ATEX 1,Profibus LWL-Rep.1￥20,436.0010 working days Profibus transceiver, 1 electrical and 2 optical ports, singlemode - support HIPER-Ring, ATEX approved 943884001OZD SFK ATEX 1,Kunststoffdeckel m.Sichtf 1￥817.4410 working days 039629001OZD PROFI 12M Handbuch/manual 1￥204.3610 working days Profibus 12M transceiver technical manual 943330902OZD PROFI Handbuch/manual 1￥204.3610 working days Profibus transceiver manual 943924221OZD ProfiPlug P11,Fiber Opt.Profibus Rep 1￥3,065.40on demand Plug-style Profibus plastic fiber-optic repeater, comes with terminator (ProfiPlug P11)FIBER TRANSCEIVERS - SERIAL/FIELDBUSAnalogue Video fiber-optic convertersFieldbus fiber-optic repeatersV.24/RS-232 fiber-optic converterGENERAL ACCESSORIES943751001ACA11 AutoConfiguration Adapter1￥2,707.77 4 weeks Stores the configuration data of the connected managed RS2, MS2108, MS3124, MACH3000 switches (RJ12 Interface)943271001ACA21-USB, AutoConfiguration Adapter USB1￥2,707.77 4 weeks Stores the configuration data of the connected managed RS20, RS30, RS40, MS20, MS30, Power MICE, MACH 1000 & 4000 (USB Interface)943913001ACA21-M121￥3,048.37on demand Stores the configuration data of the connected managed OCTOPUS (M12)IP67 M12 Ethernet Switch and Connector Accesso943892001OCTOPUS 5TX EEC1￥4,853.5510 working days IP67 unmanaged switch with 5 4-pin M12-D 100BASETX Ports (for connectors see below)943931001OCTOPUS 8M1￥26,549.77on demand IP67 fully Managed switch with 8 4-pin M12-D 100BASETX Ports (for connectors see below)943931011OCTOPUS 8M (GM)1￥26,549.77on demand IP67 fully Managed switch with 8 4-pin M12-D 100BASETX Ports include M12-MiniPower Adaptor (for connectors see below)943912001OCTOPUS 16M1￥35,507.55on demand IP67 fully Managed switch with 16 4-pin M12-D 100BASETX Ports (for connectors see below)943912002OCTOPUS 16M-2FX1￥44,533.45on demand IP67 fully Managed Switch with 14 4-pin M12-D 100BaseTX ports plus 2 ports 100BASE-FX (microFX)943923001OCTOPUS 24M1￥42,660.15on demand IP67 fully Managed Switch with 24 4-pin M12-D 100BaseTX ports and support IP67 protected auto-configuration adaptor943923002OCTOPUS 24M-2FX1￥51,686.05on demand IP67 fully Managed Switch with 22 4-pin M12-D 100BaseTX ports plus 2 ports 100BASE-FX (microFX)943923011OCTOPUS 24M (GM)1￥42,660.15on demand IP67 fully Managed Switch with 22 4-pin M12-D 100BaseTX ports plus 2 ports 100BASE-FX (microFX) include M12-MiniPower Adaptor943944001OCTOPUS M12-MiniPower Adaptor1￥1,226.16on demand M12-MiniPower Adaptor for OCTOPUS943902001OCTOPUS, Terminalkabel1￥1,379.43on demand M12 V.24 serial interface terminal cable for the local connection of an external management station (VT100 terminal or PC with appropriate terminal emulation). 934445001EM12S OCTOPUS10￥476.84 4 weeks M12"D" 4-pin Ethernet field-attachable connector934450021EF12M OCTOPUS25￥204.36 4 weeks Receptacle 4-pin M12“D” female with 80mm leads934451021EF12L OCTOPUS25￥64.71 4 weeks Receptacle 4-pin M12“D” female for PCB mounting 180°934451521EF12LW OCTOPUS25￥98.77 4 weeks Receptacle 4-pin M12“D” female for PCB mounting 90°934498001EF12RJ45 OCTOPUS10￥953.68 6 weeks bulk head RJ45 - M12"D"934578001EM12S 001L0200 OCTOPUS10￥936.65 6 weeks M12"D" - M12"D" patch cable shielded - 2m934578002EM12S 001L0500 OCTOPUS10￥1,243.19 6 weeks M12"D" - M12"D" patch cable shielded - 5m934578003EM12S 001L1000 OCTOPUS10￥1,447.55 6 weeks M12"D" - M12"D" patch cable shielded - 10mUNMANAGED HUB & SWITCHES943639002RH1-TP1￥4,427.8010 working days 4 ports 10BASE-T. All ports half-duplex.943701002RH1-CX+ (NAVY)1￥8,940.7510 working days 2 ports 10BASE-T, 1 port 10BASE-2 (BNC) & 1 port 10BASE-FL, multimode, ST socket. All ports half-duplex.943658002RT2-TX/FX1￥7,629.4410 working days Industrial Fast Ethernet transceiver with 1 port 100BASE-TX & 1 port 100BASE-FX multimode, SC socket943658032RT2-TX/FX-SM1￥25,357.6710 working days Industrial Fast Ethernet transceiver with 1 port 100BASE-TX & 1 port 100BASE-FX, singlemode, SC socket943890001SPIDER 1TX/1FX1￥3,235.7010 working days 1 port 100BASE-TX & 1 port 100BASE-FX multimode, SC socket. No redundant power inputs, no fault relay943891001SPIDER 1TX/1FX-SM1￥7,067.4510 working days 1 port 100BASE-TX & 1 port 100BASE-FX singlemode, SC socket. No redundant power inputs, no fault relay943927001SPIDER 1TX/1FX EEC1￥3,661.45on demand 1 ports 100BASE-TX & 1 port 100BASE-FX multimode, SC socket. EEC (-40 to +70ºC). No redundant power inputs, no fault relay943928001SPIDER 1TX/1FX-SM EEC1￥7,408.05on demand 1 ports 100BASE-TX & 1 port 100BASE-FX singlemode, SC socket. EEC (-40 to +70ºC). No redundant power inputs, no fault relay943899001SPIDER 3TX-TAP1￥1,703.0010 working days 3 ports 100BASE-TX. No redundant power inputs, no fault relay943221001SPIDER 4TX/1FX1￥3,406.0010 working days 4 ports 100BASE-TX & 1 port 100BASE-FX multimode, SC socket. No redundant power inputs, no fault relay943221101SPIDER 4TX/1FX EEC1￥3,831.75on demand 4 ports 100BASE-TX & 1 port 100BASE-FX multimode, SC socket. EEC (-40 to +70ºC). No redundant power inputs, no fault relay943880001SPIDER 4TX/1FX-SM EEC1￥8,855.6010 working days 4 ports 100BASE-TX & 1 port 100BASE-FX singlemode, SC socket. EEC (-40 to +70ºC). No redundant power inputs, no fault relay943914001SPIDER 4TX/1FX-ST EEC1￥3,831.75on demand 4 ports 100BASE-TX & 1 port 100BASE-FX multimode, ST socket. EEC (-40 to +70ºC). No redundant power inputs, no fault relay943824002SPIDER 5TX1￥2,043.6010 working days 5 ports 100BASE-TX. No redundant power inputs, no fault relay943824102SPIDER 5TX EEC1￥2,384.20on demand 5 ports 100BASE-TX. EEC (-40 to +70ºC). No redundant power inputs, no fault relay943376001SPIDER 8TX1￥2,724.8010 working days8 ports 100BASE-TX. No redundant power inputs, no fault relay943376201SPIDER 8TX EEC1￥3,065.4010 working days8 ports 100BASE-TX. EEC (-40 to +70ºC). No redundant power inputs, no fault relay943771001RS2-3TX/2FX EEC1￥9,860.3710 working days 3 ports 100BASE-TX & 2 ports 100BASE-FX multimode, SC socket. EEC (-40 to +70ºC), w/ redundant power inputs & fault relay943772001RS2-3TX/2FX-SM EEC1￥24,267.7510 working days 3 ports 100BASE-TX & 2 ports 100BASE-FX singlemode, SC socket. EEC (-40 to +70ºC), w/ redundant power inputs & fault relay943819001RS2-4TX EEC1￥5,279.3010 working days 4 ports 100BASE-TX, EEC (-40 to +70ºC), w/ redundant power inputs & fault relay943773001RS2-4TX/1FX EEC1￥8,429.8510 working days 4 ports 100BASE-TX & 1 port 100BASE-FX multimode, SC socket. EEC (-40 to +70ºC), w/ redundant power inputs & fault relay943774001RS2-4TX/1FX-SM EEC1￥16,178.5010 working days 4 ports 100BASE-TX & 1 port 100BASE-FX singlemode, SC socket. EEC (-40 to +70ºC), w/ redundant power inputs & fault relay943119002RS2-4TX/1FX-ST EEC1￥8,429.85on demand 4 ports 100BASE-TX & 1 port 100BASE-FX singlemode, ST socket. EEC (-40 to +70ºC), w/ redundant power inputs & fault relay943732002RS2-5TX1￥4,683.2510 working days 5 ports 100BASE-TX, w/ redundant power inputs, no fault relay. Die-cast housing.943732102RS2-5TX/FX1￥6,130.8010 working days 4 ports 100BASE-TX & 1 port 100BASE-FX, multimode, MTRJ socket, w/ redundant power inputs, no fault relay. Die-cast housing.943686003RS2-TX1￥5,790.2010 working days8 ports 100BASE-TX, w/ redundant power inputs & fault relayNEW 8、9 、16 PORTS UMANAGED SWITCHES934434999RS20-0800M2M2SDAUHC1￥9,707.10 4 weeks 6 ports 10/100BASE-T(X) & 2 uplink ports 100BASE-FX Multimode SC socket.. w/ redundant power inputs & fault relay943434047RS20-1600T1T1SDAUHC1￥9,536.80 4 weeks14 ports 10/100BASE-T(X) & 2 uplink ports 100BASE-TX, w/ redundant power inputs & fault relay943434048RS20-1600M2M2SDAUHC1￥12,942.80 4 weeks14 ports 10/100BASE-T(X) & 2 uplink ports 100BASE-FX Multimode SC socket.. w/ redundant power inputs & fault relay943434049RS20-1600M2T1SDAUHC1￥12,261.60 4 weeks14 ports 10/100BASE-T(X) & 1 uplink port 100BASE-TX, 1 uplink port 100BASE-FX multimode, SC socket.. w/ redundant power inputs & fault relay 943434051RS20-1600S2T1SDAUHC1￥16,178.50 4 weeks14 ports 10/100BASE-T(X) & 1 uplink port 100BASE-TX, 1 uplink port 100BASE-FX singlemode, SC socket.. w/ redundant power inputs & fault relay943434052RS20-1600S2M2SDAUHC 1￥17,881.50 4 weeks 14 ports 10/100BASE-T(X) & 1 uplink port 100BASE-FX multimode, 1 uplink port 100BASE-FX singlemode, SC socket.. w/ redundant power inputs & fault relay 943434053RS20-1600S2S2SDAUHC 1￥22,820.20 4 weeks 14 ports 10/100BASE-T(X) & 2 uplink ports 100BASE-FX singlemode SC socket.. w/ redundant power inputs & fault relay 943434054RS20-1600L2T1SDAUHC 1￥61,904.05 4 weeks 14 ports 10/100BASE-T(X) & 1 uplink port 100BASE-TX, 1 uplink port 100BASE-FX longhaul singlemode, SC socket.. w/ redundant power inputs & fault relay 943434055RS20-1600L2M2SDAUHC 1￥63,607.05 4 weeks 14 ports 10/100BASE-T(X) & 1 uplink port 100BASE-FX multimode, 1 uplink port 100BASE-FX longhaul singlemode, SC socket.. w/ redundant power inputs & fault relay 943434056RS20-1600L2S2SDAUHC 1￥68,545.75 4 weeks 14 ports 10/100BASE-T(X) & 1 uplink port 100BASE-FX singlemode, 1 uplink port 100BASE-FX longhaul singlemode, SC socket.. w/ redundant power inputs & fault relay 943434057RS20-1600L2L2SDAUHC 1￥114,186.15 4 weeks 14 ports 10/100BASE-T(X) & 2 uplink ports 100BASE-FX longhaul singlemode SC socket.. w/ redundant power inputs & fault relay 943434058RS20-0900NNM4TDAUHC 1￥14,305.20 4 weeks 6 ports 10/100BASE-T(X) & 3 ports 100BASE-FX ST multimode, unmanaged, Standard Temperature, w/ redundant power inputs & fault relay 943434059RS20-0900MMM2TDAUHC 1￥14,305.20 4 weeks 6 ports 10/100BASE-T(X) & 3 ports 100BASE-FX SC multimode, unmanaged, Standard Temperature, w/ redundant power inputs & fault relay 943434060RS20-0900VVM2TDAUHC 1￥24,182.60 4 weeks 6 ports 10/100BASE-T(X), 2 ports 100BASE-FX SC singlemode & 1 port 100BASE-FX SC multimode, unmanaged, Standard Temperature, w/ redundant power inputs & fault relay943434061RS20-0400T1T1SDABHC 1￥7,493.20 4 weeks 2 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-TX. Basic management without Redundancy Manager built-in*.943434062RS20-0400M2M2SDABHC 1￥10,899.20 4 weeks 2 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, SC socket. Basic management without Redundancy Manager built-in*.943434063RS20-0800T1T1SDABHC 1￥11,921.00 4 weeks 6 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-TX. Basic management without Redundancy Manager built-in*.943434064RS20-0800M2M2SDABHC 1￥15,327.00 4 weeks 6 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, SC socket. Basic management without Redundancy Manager built-in*.943434001RS20-0400M2M2SDAEHC 1￥12,602.20 4 weeks 2 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, SC socket. Enhanced management.943434002RS20-0400M2M2SDAPHC 1￥14,390.35 4 weeks 2 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, SC socket. Professional management.943434007RS20-0400T1T1SDAEHC 1￥9,196.20 4 weeks 2 ports 10/100BASE-T(X) +, 2 uplink ports 100BASE-TX. Enhanced management.943434008RS20-0400T1T1SDAPHC 1￥10,984.35 4 weeks 2 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-TX. Professional management.943434009RS20-0400M2T1SDAEHC 1￥10,899.20 4 weeks 2 ports 10/100BASE-T(X) + 1 uplink port 100BASE-FX, multimode, SC socket & 1 uplink port 100BASE-TX. Enhanced mgmt.943434010RS20-0400M2T1SDAPHC 1￥12,687.35 4 weeks 2 ports 10/100BASE-T(X) + 1 uplink port 100BASE-FX, multimode, SC socket & 1 uplink port 100BASE-TX. Professional mgmt.943434011RS20-0400S2T1SDAEHC 1￥15,837.90 4 weeks 2 ports 10/100BASE-T(X) + 1 uplink port 100BASE-FX, singlemode, SC socket & 1 uplink port 100BASE-TX. Enhanced mgmt.943434012RS20-0400S2T1SDAPHC 1￥17,626.05 4 weeks 2 ports 10/100BASE-T(X) + 1 uplink port 100BASE-FX, singlemode, SC socket & 1 uplink port 100BASE-TX. Professional mgmt.943434013RS20-0400S2S2SDAEHC 1￥22,479.60 4 weeks 2 ports 10/100BASE-T(X) + 2 uplinks ports 100BASE-FX, singlemode, SC socket. Enhanced management.943434014RS20-0400S2S2SDAPHC 1￥24,267.75 4 weeks 2 ports 10/100BASE-T(X) + 2 uplinks ports 100BASE-FX, singlemode, SC socket. Professional management.943434003RS20-0800M2M2SDAEHC 1￥20,095.40 4 weeks 6 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, SC socket. Enhanced management.943434004RS20-0800M2M2SDAPHC 1￥23,671.70 4 weeks 6 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, SC socket. Professional management.943434015RS20-0800M2M2SDHEHC 1￥21,883.55 4 weeks 6 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, SC socket. Enhanced management & "B" approval.943434016RS20-0800M2M2SDHPHC 1￥25,459.85 4 weeks 6 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, SC socket. Professional management & "B" approval.943434017RS20-0800M4M4SDAEHC 1￥20,095.40 4 weeks 6 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, ST socket. Enhanced management.943434018RS20-0800M4M4SDAPHC 1￥23,671.70 4 weeks 6 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, ST socket. Professional management.943434019RS20-0800S2S2SDAEHC 1￥29,972.80 4 weeks 6 ports 10/100BASE-T(X) + 2 uplinks ports 100BASE-FX, singlemode, SC socket. Enhanced management.943434020RS20-0800S2S2SDAPHC 1￥33,549.10 4 weeks 6 ports 10/100BASE-T(X) + 2 uplinks ports 100BASE-FX, singlemode, SC socket. Professional management.943434021RS20-0800T1T1SDAEHC 1￥16,689.40 4 weeks 6 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-TX. Enhanced management.943434022RS20-0800T1T1SDAPHC 1￥20,265.70 4 weeks 6 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-TX. Professional management.943434005RS20-1600M2M2SDAEHC 1￥31,420.35 4 weeks 14 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, SC socket. Enhanced management.943434006RS20-1600M2M2SDAPHC 1￥38,572.95 4 weeks 14 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, SC socket. Professional management.943434023RS20-1600T1T1SDAEHC 1￥28,014.35 4 weeks 14 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-TX. Enhanced management.943434024RS20-1600T1T1SDAPHC 1￥35,166.95 4 weeks 14 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-TX. Professional management.943434025RS20-1600M2T1SDAEHC 1￥29,717.35 4 weeks 14 ports 10/100BASE-T(X) + 1 uplink port 100BASE-FX, multimode, SC socket & 1 uplink port 100BASE-TX. Enhanced mgmt.943434026RS20-1600M2T1SDAPHC 1￥36,869.95 4 weeks 14 ports 10/100BASE-T(X) + 1 uplink port 100BASE-FX, multimode, SC socket & 1 uplink port 100BASE-TX. Professional mgmt.943434027RS20-1600S2S2SDAEHC 1￥41,297.75 4 weeks 14 ports 10/100BASE-T(X) + 2 uplinks ports 100BASE-FX, singlemode, SC socket. Enhanced management.943434028RS20-1600S2S2SDAPHC 1￥48,450.35 4 weeks 14 ports 10/100BASE-T(X) + 2 uplinks ports 100BASE-FX, singlemode, SC socket. Professional management.943434041RS20-2400T1T1SDAEHC 1￥36,103.60 4 weeks 22 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-TX. Enhanced management.943434042RS20-2400T1T1SDAPHC 1￥46,832.50 4 weeks 22 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-TX. Professional management.943434043RS20-2400M2M2SDAEHC 1￥39,509.60 4 weeks 22 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, SC socket. Enhanced management.943434044RS20-2400M2M2SDAPHC 1￥50,238.50 4 weeks 22 ports 10/100BASE-T(X) + 2 uplink ports 100BASE-FX, multimode, SC socket. Professional management.943434045RS20-2400S2S2SDAEHC 1￥49,387.00 4 weeks 22 ports 10/100BASE-T(X) + 2 uplinks ports 100BASE-FX, singlemode, SC socket. Enhanced management.943434046RS20-2400S2S2SDAPHC 1￥60,115.90 4 weeks 22 ports 10/100BASE-T(X) + 2 uplinks ports 100BASE-FX, singlemode, SC socket. Professional management.943434029RS30-0802T1T1SDAEHC 1￥22,479.60 4 weeks 8 ports 10/100BASE-T(X) + 2 Gigabit uplinks 1000BASE-TX, RJ45 connections. Enhanced management.943434030RS30-0802T1T1SDAPHC 1￥26,055.90 4 weeks 8 ports 10/100BASE-T(X) + 2 Gigabit uplinks 1000BASE-TX, RJ45 connections. Enhanced management.943434031RS30-0802O6O6SDAEHC 1￥22,479.60 4 weeks 8 ports 10/100BASE-T(X) + 2 Gigabit uplinks with SFP slot integrated. Enhanced mgmt. *SFPs need to be purchased separately.943434032RS30-0802O6O6SDAPHC 1￥26,055.90 4 weeks 8 ports 10/100BASE-T(X) + 2 Gigabit uplinks with SFP slot integrated. Professional mgmt. *SFPs need to be purchased sep.943434033RS30-1602T1T1SDAEHC 1￥33,719.40 4 weeks 16 ports 10/100BASE-T(X) + 2 Gigabit uplinks 1000BASE-TX, RJ45 connections. Enhanced management.Enhanced & Professional Software versionBasic Software version ( * Need at least an Enhanced or Professional version switch for HIPER-Ring configuration. )MANAGED SWITCHES - Support HIPER-Ring943434034RS30-1602T1T1SDAPHC1￥40,872.00 4 weeks16 ports 10/100BASE-T(X) + 2 Gigabit uplinks 1000BASE-TX, RJ45 connections. Enhanced management.943434035RS30-1602O6O6SDAEHC1￥33,719.40 4 weeks16 ports 10/100BASE-T(X) + 2 Gigabit uplinks with SFP slot integrated. Enhanced mgmt. *SFPs need to be purchased separately. 943434036RS30-1602O6O6SDAPHC1￥40,872.00 4 weeks16 ports 10/100BASE-T(X) + 2 Gigabit uplinks with SFP slot integrated. Professional mgmt. *SFPs need to be purchased sep.. 943434037RS30-2402T1T1SDAEHC1￥41,808.65 4 weeks24 ports 10/100BASE-T(X) + 2 Gigabit uplinks 1000BASE-TX, RJ45 connections. Enhanced management.943434038RS30-2402T1T1SDAPHC1￥52,537.55 4 weeks24 ports 10/100BASE-T(X) + 2 Gigabit uplinks 1000BASE-TX, RJ45 connections. Enhanced management.943434039RS30-2402O6O6SDAEHC1￥41,808.65 4 weeks24 ports 10/100BASE-T(X) + 2 Gigabit uplinks with SFP slot integrated. Enhanced mgmt. *SFPs need to be purchased separately. 943434040RS30-2402O6O6SDAPHC1￥52,537.55 4 weeks24 ports 10/100BASE-T(X) + 2 Gigabit uplinks with SFP slot integrated. Professional mgmt. *SFPs need to be purchased sep.943 935-001RS40-0009CCCCSDAEHC1￥44,278.00 4 weeks Full Gigabit Rail switch with 9 ports 10/100/1000BASE-T(X): 4 Combo ports plus 5 TX ports, Enhanced Software enhanced, Standard temperature range. *SFPs need to be purchased sep.943435001MS20-0800SAAEHC 1￥13,453.70 4 weeks Backplane w/ 2 Media Module slots (8 ports max), Enhanced mgmt., requires Media Modules 943435002MS20-0800SAAPHC 1￥17,030.00 4 weeks Backplane w/ 2 Media Module slots (8 ports max), Professional mgmt., requires Media Modules 943435003MS20-1600SAAEHC 1￥24,778.65 4 weeks Backplane w/ 4 Media Module slots (16 ports, 24 max w/ *MB-2T), Enhanced mgmt., requires Media Modules. *MB-2T needs to be purchased separately.943435004MS20-1600SAAPHC 1￥28,354.95 4 weeks Backplane w/ 4 Media Module slots (16 ports, 24 max w/ *MB-2T), Professional mgmt., requires Media Modules. *MB-2T needs to be purchased separately.943435005MS30-0802SAAEHC 1￥19,754.80 4 weeks Backplane w/ 3 Media Module slots (8 ports max + 2 Gigabit uplinks), Enhanced management, requires Media Modules 943435006MS30-0802SAAPHC 1￥23,331.10 4 weeks Backplane w/ 3 Media Module slots (8 ports max + 2 Gigabit uplinks), Professional management, requires Media Modules.943435007MS30-1602SAAEHC 1￥31,079.75 4 weeks Backplane w/ 5 Media Module slots (16 ports, 24 max w/ *MB-2T + 2 Gigabit uplinks), Enhanced mgmt., requires Media Modules. *MB-2T needs to be purchased separately.943435008MS30-1602SAAPHC 1￥34,656.05 4 weeks Backplane w/ 5 Media Module slots (16 ports, 24 max w/ *MB-2T + 2 Gigabit uplinks), Professional mgmt., requires Media Modules. *MB-2T needs to be purchased separately.943009101MS4128-L2PHC 1￥42,234.40 4 weeks Power MICE Backplane w/ 5 Media Module slots (16 ports, 24 max w/ *MB-2T + 4 Gigabit uplinks), Layer 2, Professional mgmt., requires Media Modules. *MB-2T needs to be purchased separately.943009201MS4128-L3EHC 1￥49,387.00 4 weeks Power MICE Backplane w/ 5 Media Module slots (16 ports, 24 max w/ *MB-2T + 4 Gigabit uplinks), Layer 3, Enhanced mgmt., requires Media Modules. *MB-2T needs to be purchased separately.943009301MS4128-L3PHC 1￥56,539.60 4 weeks Power MICE Backplane w/ 5 Media Module slots (16 ports, 24 max w/ *MB-2T + 4 Gigabit uplinks), Layer 3, Professional mgmt., requires Media Modules. *MB-2T needs to be purchased separately.943733102MB-2T 1￥2,384.2010 working days 2-slot (8 ports) backplane extension for all 4+ slot backplanes (only one MB-2T per backplane)943842101MM2-2FXP41￥11,835.8510 working days 2 ports 100BASE-FX, plastic fiber (POF), SC socket 943718101MM2-2FXM21￥8,259.5510 working days 2 ports 100BASE-FX, multimode, SC socket 943719101MM2-2FXS21￥17,285.4510 working days 2 ports 100 BASE-FX, singlemode, SC socket 943720101MM2-2FXM3/2TX11￥9,962.5510 working days 2 ports 10/100BASE-T(X) & 2 ports 100BASE-FX, multimode, MTRJ socket 943721101MM2-4FXM31￥15,412.1510 working days 4 ports 100BASE-FX, multimode, MTRJ socket 943722101MM2-4TX11￥4,512.9510 working days 4 ports 10/100BASE-T(X), RJ45 connections 943722151MM2-4TX1-EEC 1￥4,938.7010 working days 4 ports 10/100BASE-T(X), RJ45 connections, EEC (-25 to +55ºC)943117001MM3-4TX1-RT 1￥11,580.4010 working days 4 ports 10/100BASE-T(X), RJ45 connections, support Realtime Ethernet PTP (IEEE 1588)943117002MM3-2FXM2/2TX1-RT 1￥16,689.4010 working days 2 ports 10/100BASE-T(X) & 2 ports 100BASE-FX, multimode, SC socket, support Realtime Ethernet PTP (IEEE 1588)943117003MM3-2FXS2/2TX1-RT 1￥25,545.0010 working days 2 ports 10/100BASE-T(X) & 2 port 100BASE-FX, singleimode, SC socket, support Realtime Ethernet PTP (IEEE 1588)943117004MM3-2FLM4/2TX1-RT 1￥18,733.0010 working days 2 ports 10BASE-FL, multimode, ST socket & 2 ports 10/100BASET(X), support Realtime Ethernet PTP (IEEE 1588)943760101MM3-4FLM41￥19,754.8010 working days 4 ports 10BASE-FL, multimode, ST socket 943761101MM3-2FXM2/2TX11￥9,962.5510 working days 2 ports 10/100BASE-T(X) & 2 ports 100BASE-FX, multimode, SC socket 943761151MM3-2FXM2/2TX1-EEC 1￥10,558.6010 working days 2 ports 10/100BASE-T(X) & 2 ports 100BASE-FX, multimode, SC socket, EEC (-25 to +55ºC)943762101MM3-2FXS2/2TX11￥19,073.6010 working days 2 ports 10/100BASE-T(X) & 2 port 100BASE-FX, singleimode, SC socket 943762151MM3-2FXS2/2TX1-EEC 1￥24,097.45 4 weeks 2 ports 10/100BASE-T(X) & 2 port 100BASE-FX, singleimode, SC socket, EEC (-25 to +55ºC)943763101MM3-1FXL2/3TX11￥58,327.7510 working days 3 ports 10/100BASE-T(X) & 1 port 100BASE-FX, long haul singleimode, SC socket 943764101MM3-4FXM21￥15,497.3010 working days 4 ports 100BASE-FX, multimode, SC socket 943835101MM3-4FXM41￥15,412.1510 working days 4 ports 100BASE-FX, multimode, ST socket 943836101MM3-4FXS21￥33,378.8010 working days 4 ports 100 BASE-FX, singlemode, SC socket 943837101MM3-2FXM4/2TX11￥9,962.5510 working days 2 ports 10/100BASE-T(X) & 2 ports 100BASE-FX, multimode, ST socket 943838101MM3-1FXS2/3TX11￥11,750.7010 working days 3 ports 10/100BASE-T(X) & 1 port 100BASE-FX, singleimode, SC socket 943838151MM3-1FXS2/3TX1-EEC 1￥12,176.4510 working days 3 ports 10/100BASE-T(X) & 1 port 100BASE-FX, singleimode, SC socket, EEC (-25 to +55ºC)943839101MM3-1FXM2/3TX11￥7,237.7510 working days 3 ports 10/100BASE-T(X) & 1 port 100BASE-FX, multimodeimode, SC socket 943840101MM3-2AUI 1￥9,366.5010 working days 2 ports 10BASE-AUI Half-duplex, SUB-D 15pins male 943841101MM3-4TX51￥4,683.2510 working days 4 ports 10/100BASE-T(X) with M12 D-Coding 943843101MM3-4FXP41￥22,649.9010 working days 4 ports 100BASE-FX, plastic fiber (POF), SC socket 943929101MM3-1FXS2/1FXM2/2TX11￥14,475.50on demand 2 ports 10/100BASE-T(X), 1 port 100BASE-FX multimodeimode, 1 port 100BASE-FX singlemode, SC socket 943930101MM3-1FXLH+/3TX11￥84,298.5010 working days 3 ports 10/100BASE-T(X) & 1 port 100BASE-FX Long haul+ SC socket 943010001MM4-4TX/SFP 1￥11,665.5510 working days 4 ports 10/100/1000 BASE-T(X) with 4 SFP-slots integrated.& 1 SFP deactivates 1 RJ45 TX port. For use with MS30-16 and MS4128 only! SFPs need to be purchased separately.943622001MM4-2TX/SFP 1￥9,008.87 4 weeks 2 ports 10/100/1000 BASE-T(X) with 2 SFP-slots integrated.& 1 SFP deactivates 1 RJ45 TX port. For use with MS30-16 and MS4128 only! SFPs need to be purchased separately.MICE - MEDIA MODULESMICE - MODULAR SWITCHESBackplanes for MICE & Power MICE。