enforced by banks, brokers, etc. • Governance by code, not by people – Nobody to hold accountable – Code is not always well-written – Velocity of transactions is very high, e.g., “flash loans” • Reliance on

(implied by a declining emissions performance trajectory), fixed targets are established at the midpoint of the bond’s term along the trajectory (see Box 3 for example using Sydney offices). Adopting this

that a stock’s history of price performance determines the permanent price impact asymmetry between buys and sells (Saar 2001). 16 • Using midpoint quotes 30 minutes after the trade, instead of 60

lasted through the quarter. 2. Net marketing margin decreased, compared to the previous quarter, as the retail price was unable to keep up with the velocity of rising cost, combined with the government’ s