the KPIs have not been previously disclosed, issuers should, to the extent possible, provide historical externally verified KPI values covering at least the previous 3 years. Care should be taken as

engagement. To the extent appropriate and as required by applicable professional standards, these policies and procedures should cover planning, performing, supervising, reviewing, documenting, and

influences the buy-sell asymmetry of (permanent) price impact” – Asymmetry in price impacts decreases with the stocks’ historical performance. (Saar, 2001)  never been empirically tested. Background on Price

เปดเผยสูตรการคํานวณราคา และ factor ที่ใชในการคํานวณตาม แนวทางที่ IB club กําหนด เห็นดวยตามหลักการที่เสนอ - 2. การเปดเผยขอมูล historical volatility ไวในแบบ filing ไมเห็นดวยเน่ืองจากขอมูลดังกล

Brokerage: Investment Units, failed to comply with the rules, conditions and procedures as specified in the notification by failing to specify the extent and procedure of outsource function related to

registration statement. B. Advisers and Other Parties Provide the names and addresses of a. the issuer's principal bankers to the extent the issuer has a continuing relationship with such entities; b. sponsor

should provide an integrated report that puts historical performance into context, and portrays the risks, opportunities and prospects for the company in the future, helping shareholders understand a

]St0 HC = Ct1−[Delta]St1 DeltaBS = f ( St0, K, T, r, σ ) Historical statistic : Standard deviation Implied statistic : Min ∑ (Cmarket – C theoretical) 2 DeltaWM = f ( St0, K, T, r, μ, σ* ) σ* = f (r, μ

ไดรบัอนุญาต ตองจัดใหมีการเปดเผยขอมูลเพื่อเปรียบเทียบคาความผันผวนแฝง (implied volatility) กับคาความผันผวนในอดีต (historical volatility) บน website ของผูออก DW โดยเปนการเปดเผย อยางตอเนื่อง

disclose more information related to the price of the DW to be offered. This includes:  -  additional disclosure on the historical volatility of the underlying shares in the registration statement and