M/TCP can be applied to those applications that a sender triggers data transfer ... the receivers will get the packets by making them return ACK or negative ...
07&37KH0XOWLFDVWH[WHQVLRQWR7UDQVPLVVLRQ &RQWURO3URWRFRO 9DVDND9LVRRWWLYLVHWK7DNX\D0RJDPL1RULWRVKL'HPL]X@LQVWHDGRI XVLQJ FRQQHFWLRQOHVV DQG XQUHOLDEOH SURWRFRO DV 8'3 :H IRFXVRQWKHFRQFHSWVRIWKHH[SOLFLWPXOWLFDVWZKLFKUHFHLYHUV¶
H[SOLFLWPXOWLFDVW[FDVW DQHZNLQGRIPXOWLFDVWVXSSRUWVVPDOO
DGGUHVVHV H[SOLFLWO\ NQRZQ E\ WKH VHQGHU 7KDW PHDQV 7&3
JURXSFRPPXQLFDWLRQV07&3KDVWKHIROORZLQJIHDWXUHV)LUVW
FRQQHFWLRQVFDQEHSURYLGHGE\WKLVW\SHRI PXOWLFDVW7KXV
07&3 FDQ EH DSSOLHG WR WKRVH DSSOLFDWLRQV WKDW D VHQGHU
ZH FDQ DFKLHYH UHOLDEOH PXOWLFDVW E\ HQKDQFLQJ WKH H[LVWLQJ
WULJJHUV GDWD WUDQVIHU VHQGHULQLWLDWHG IRU H[DPSOH )73 DQG
7&3SURWRFROVWDFNV,QWKLVSDSHUZHSURSRVHDQH[WHQVLRQWR
6073 6HFRQG LW UHTXLUHV RQO\ LPSOHPHQWDWLRQ RQ WKH VHQGHU
7&3 FDOOHG ³7KH 0XOWLFDVWH[WHQVLRQ WR 7&3 07&3 ´
7KLUG LW SURYLGHV PXOWLSOH WUDQVPLVVLRQ UDWHV E\ UH
FODVVLI\LQJ UHFHLYHUV LQ PXOWLSOH PXOWLFDVW JURXSV ,Q WKLV SDSHUZH SURYLGH WKH GHWDLOV RI 07&3 DQG VKRZ KRZ 07&3 FDQEHZLGHO\GHSOR\HGLQWKHH[LVWLQJJOREDO,QWHUQHW
.H\ZRUGV
07&3 LV GHVLJQHG EDVHG RQ WKH 6HQGHU ,QLWLDWHG 0XOWLFDVW 6,0 DQ [FDVW SURWRFRO GHYHORSHG LQ RXU JURXS +RZHYHU WKH FRQFHSW RI 6,0 LV QRW TXLWH GLIIHUHQW IURP RWKHU [FDVW SURWRFROV ,W LV HDV\ WR PRGLI\ VRPH IXQFWLRQV RI 07&3 LQ
7&3 UHOLDEOH PXOWLFDVW VPDOO JURXS PXOWLFDVW
H[SOLFLWPXOWLFDVWVHQGHULQLWLDWHG
RUGHUWRVXSSRUWVWKHP 7KH IHDWXUHV RI 07&3 DUH 07&3 FDQ EH DSSOLHG WR WKRVHDSSOLFDWLRQVWKDWDVHQGHUWULJJHUVGDWDWUDQVIHUVHQGHU
,QWURGXFWLRQ
LQLWLDWHG IRU H[DPSOH )LOH 7UDQVIHU 3URWRFRO )73 >@ 6LPSOH 0DLO 7UDQVIHU 3URWRFRO 6073 >@ DQG 1HWZRUN 1HZV 7UDQVIHU 3URWRFRO 1173 >@ LW UHTXLUHV RQO\
7KH WUDGLWLRQDO PXOWLFDVW LV FDOOHG ³+RVWJURXS´ PRGHO >@ XVXDOO\ VHQG GDWD SDFNHWV LQ PDQ\WRPDQ\ FRPPXQLFDWLRQ ZD\,WXVHVDXQLTXHJOREDO,3DGGUHVVFODVV' DVDPXOWLFDVW JURXSDGGUHVV$Q\RQHFDQVHQGDQGUHFHLYHGDWDSDFNHWVE\ MRLQLQJ WKH PXOWLFDVW JURXS DGGUHVV 7KLV OHDGV WR WKH UHTXLUHPHQW
RI
PXOWLFDVW
DGGUHVV
DOORFDWLRQ
SURWRFROV
PXOWLFDVW JURXS DQQRXQFLQJ SURWRFROV DQG PXOWLFDVW VRXUFH GLVFRYHU\
SURWRFROV
,Q
DGGLWLRQ
WKH
LQWHUGRPDLQ
LQWHURSHUDELOLW\LVWKHPDLQSUREOHPRIWKLVKRVWJURXSPRGHO )XUWKHUPRUH EHFDXVH WKH UHFHLYHU LV XQNQRZQ E\ WKH VHQGHU WKH FRQQHFWLRQEDVHG WUDQVPLVVLRQ LV EDVLFDOO\ LPSRVVLEOH
LPSOHPHQWDWLRQ RQ WKH VHQGHU 5HFHLYHUV ZLOO UHFHLYH WKH SDFNHWVDVWKHXQLFDVWSDFNHWV7KHUHIRUHWKHUHLVQRQHHGWR PRGLI\ERWKUHFHLYHU¶VSURWRFROVWDFNVDQGWKHLUDSSOLFDWLRQV ,QWKLVSDSHUZHSURYLGHWKHGHWDLOVRI07&3DQGVKRZKRZ 07&3 FDQ EH ZLGHO\ GHSOR\HG ZLWK WKH H[LVWLQJ JOREDO ,QWHUQHW 7KH UHVW RI WKH SDSHU LV RUJDQL]HG DV IROORZV ,Q VHFWLRQ ZH GLVFXVV DERXW UHODWHG ZRUN RQ WKH UHOLDEOH PXOWLFDVW SURWRFRO ,Q VHFWLRQ ZH SUHVHQW WKH GHWDLOV RI 07&3,QVHFWLRQZHGHVFULEHDERXWRXULPSOHPHQWDWLRQV 6HFWLRQLVGLVFXVVLRQVDQGIXWXUHZRUNV&RQFOXGLQJUHPDUNV LVLQVHFWLRQ
7KXVFRQQHFWLRQOHVVSURWRFRODVWKH8VHU'DWDJUDP3URWRFRO 8'3 >@
LV
ZLGHO\
XVHG
WR
LPSOHPHQW
WKH
5HODWHG:RUN
PXOWLFDVW
DSSOLFDWLRQV 5HFHQWO\ D QHZ PRGHO RI PXOWLFDVW FDOOHG ³WKH H[SOLFLW PXOWLFDVW´
[FDVW
KDV
EHHQ
SURSRVHG
>@>@>@>@
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
EORFN
>@
7KHUHIRUH
SURYLGLQJ
PXOWLFDVW
FDSDELOLW\WR7&3OLNHLQRXUDSSURDFKLVFRQVLGHUHGEHDEHWWHU
SURWRFRO DOO 07&3 SDFNHWV ZLOO EH UHZULWWHQ WR XQLFDVW
VROXWLRQ
SDFNHWVEHIRUHUHDFKLQJWKHUHFHLYHUV7KHUHIRUHWKHVHQGHU¶V
$QRWKHUIDFWRUWKDWPDNHV7&3VXSHULRUWKDQ8'3LVWKHXVH
SRLQWRIYLHZWKHSDFNHWLVWUDQVPLWWHGLQPXOWLFDVW)URPWKH
RI FRQJHVWLRQ FRQWURO 7&3 XVHV HQGWRHQG FRQJHVWLRQ
UHFHLYHU¶VSRLQWRIYLHZWKHSDFNHWLVUHDFKHGWKHPLQXQLFDVW
FRQWURO PHFKDQLVP WR VKDUH VFDUFH EDQGZLGWK 0DQ\ HIIRUWV
)LJXUH 7KLVDGYDQWDJHPDNHVWKHUHFHLYHUDQGLWVH[LVWLQJ
KDYHPDGHWRDFKLHYHFRQJHVWLRQFRQWUROIRU8'3VXFKDVLQ
PXOWLFDVW
>@>@ DQG >@ 3JPFF >@ LV D 7&3IULHQGO\ PXOWLFDVW
PRGLILFDWLRQ2QO\WKHVHQGHUVLGHNHUQHODQGLWVDSSOLFDWLRQV
FRQJHVWLRQFRQWUROVFKHPHIRU8'3,WSURYLGHVRQO\DVLQJOH
KDYHWREHPRGLILHGLQRUGHUWRXVHG07&3DQG6,0
DSSOLFDWLRQV
UHFHLYH
WKH
SDFNHWV
ZLWKRXW
DQ\
UDWH7KHSUHDVVXPSWLRQRISJPFFLVEDVHGRQ8'3DQGWKH KRVWJURXS PRGHO PXOWLFDVW ,W DOVR XVHV ZLQGRZEDVHG
$OOHYLDWH$&.VXSSUHVVLRQRQWKHVHQGHU
FRQJHVWLRQFRQWUROOLNHLQ7&3$&.VIRUWKHUHFHLYHUVZLOOEH
$V
JDWKHUWRWKHJURXSUHSUHVHQWDWLYH
DFNQRZOHGJHPHQW $&. RI WKH SDFNHWV ZLOO EH VHQW E\
WKHUH
LV
QR
PRGLILFDWLRQ
RQ
WKH
UHFHLYHUV
WKH
'HYHORSLQJ 7&3 IRU PXOWLFDVW RWKHU WKDQ RXU DSSURDFK LV
XQLFDVWDV XVXDO7KXVWKH$&.VXSSUHVVLRQDWWKHVHQGHULV
SURSRVHGLQ>@7KHLGHDWRH[WHQVLRQ7&3IRUPXOWLFDVW LV
QRUPDOO\ D
EDVHGRQKRVWJURXSPRGHO7KLVSURWRFROKDVWREHGHSOR\HG
+RZHYHU 'HOD\ $&. PHFKDQLVP LV QRUPDOO\ XVHG LQ 7&3
SUREOHP
LQ
WKH
H[LVWLQJ
UHOLDEOH
PXOWLFDVW
ERWK RQ WKH VHQGHU DQG WKH UHFHLYHU ,W GLGQ¶W FRQVLGHU WKH
7KHUHIRUH $&. IURP WKH UHFHLYHUV ZLOO UHDFK WKH VHQGHU LQ
FRQJHVWLRQ FRQWURO PHFKDQLVP 0RUHRYHU WKH SURWRFRO ZDV
UDQGRP,QDGGLWLRQRXUPRGHOLVEDVHGRQ[FDVWWKDWVXSSRUWV
SURSRVHGEXWQHYHULPSOHPHQWHG
RQO\VPDOO PXOWLFDVW JURXS 7KXV WKH $&. VXSSUHVVLRQ ZLOO
2XU ZRUN GLIIHUV IURP WKLV ZRUN LQ WZR LPSRUWDQW ZD\V
QRWRFFXUWRRXUVHQGHU
)LUVWRXUJRDOKHUHLQQRWRQO\WRSURYLGHPXOWLFDVWFDSDELOLW\ WR 7&3 EXW DOVR WR VXSSRUW WKH H[LVWLQJ 7&3 DSSOLFDWLRQV WR XVHPXOWLFDVWZLWKRXWDQ\PRGLILFDWLRQ6HFRQGZHIRFXVRQ
3URYLGH PXOWLSOH WUDQVPLVVLRQ UDWHV E\ UHFODVVLILHG UHFHLYHUVJURXS
VPDOOJURXSPXOWLFDVWQRWWKHWUDGLWLRQDOKRVWJURXSPXOWLFDVW
,WLVPHQWLRQHGLQ>@WKDWWKHVRXUFHEDVHGUDWHDGDSWDWLRQ
:H H[SHFW RXU SURWRFRO WR EH ZLGHO\ GHSOR\HG DV WKH
SHUIRUPV SRRUO\ LQ D KHWHURJHQHRXV PXOWLFDVW HQYLURQPHQW
SURFHVVLQJFRVWVRQWKHLPPHGLDWHURXWHUVZLOOGHFUHDVH
07&3 ,QWKLVVHFWLRQ ZHGHVFULEHWKHFRQFHSWVDQG PHFKDQLVPRI 07&3LQGHWDLO07&3LVGHVLJQHGEDVHGRQWKHFRQFHSWVRI WKHH[SOLFLW PXOWLFDVW 7KH GHVLJQ JRDOV RI07&3 DUH WR SURYLGH UHOLDELOLW\ WR PXOWLFDVW FRPPXQLFDWLRQ E\ HQKDQFLQJ PXOWLFDVW IXQFWLRQV WR 7&3 DQG WR VXSSRUW WKH H[LVWLQJ 7&3DSSOLFDWLRQVZLWKRXWDQ\PRGLILFDWLRQ
EHFDXVH WKHUH LV QR VLQJOH WDUJHW UDWH WKH FRQIOLFWLQJ EDQGZLGWK
UHTXLUHPHQWV
RI
DOO
UHFHLYHUV
FDQQRW
EH
VLPXOWDQHRXVO\VDWLVILHGZLWKRQHWUDQVPLVVLRQUDWH7KHUHIRUH ZHPDNHDQGHIIRUWWRSURYLGHPXOWLSOHWUDQVPLVVLRQUDWHVWKDW PDWFK
WR
HDFK
UHFHLYHU¶V
UHTXLUHPHQWV
'XULQJ
WKH
WUDQVPLVVLRQ ZH UHFODVVLILHG UHFHLYHUV LQ PXOWLSOH JURXSV GHSHQGLQJ RQ SDFNHW ORVV WKH\ H[SHULHQFHG 5HFHLYHUV ZKR FDQUHFHLYHGDWDSDFNHWVLQWKHVDPHUDWHZLOOEHJURXSHGLQWKH VDPH JURXS :KHQ WKHUH LV D UHFHLYHU ZKR EHFRPHV D ERWWOHQHFNRIWKHJURXSLHKDVH[WUHPHO\SRRUUHFHLYLQJUDWH LWZLOOEHHOLPLQDWHGIURPWKHJURXS7KHERWWOHQHFNUHFHLYHU ZLOO UHFHLYH GDWD SDFNHWV E\ XQLFDVW LQVWHDG %\ SHUIRUPLQJ WKLV SURFHGXUH ZH EHOLHYH WKDW LW FDQ PROOLI\ WKH LQIOXHQFH IURPDERWWOHQHFNUHFHLYHU7KHJURXS¶VWUDQVPLVVLRQUDWHZLOO QRWEHGHWHUPLQHGE\RQO\RQHERWWOHQHFNUHFHLYHU
'LVDGYDQWDJHRI07&3
%HVLGHV LWV DGYDQWDJHV 07&3 KDV WKH IROORZLQJ WZR GLVDGYDQWDJH
'HSHQGRQ577DQG572 $V PHQWLRQHG LQ >@ LQ FRQJHVWHG QHWZRUN WKH UHODWLYH WKURXJKSXWV IRU FRPSHWLQJ VHVVLRQV H[SHULHQFLQJ WKH VDPH ORVVUDWHVKRXOGQRWGHSHQGRQWKH³GLVWDQFH´577 EHWZHHQ WKH VHQGHU DQG WKH UHFHLYHU +RZHYHU LQ RXU DSSURDFK ZH )LJXUH7UDQVPLVVLRQGDWDE\07&3
ZLOOFODVVLI\UHFHLYHUVE\LWVSDFNHWORVWH[SHULHQFH1RUPDOO\ 7&3LVEDVHGRQWKHDFNQRZOHGJPHQW5HFHLYHUVZLWKDODUJHU
$GYDQWDJHVRI07&3
577DUHOHVVUHVSRQVLYHWKDQWKRVHZLWKDVKRUWHU5778VLQJ $&.EDVHG WR FRQWURO WKH WUDQVPLVVLRQ ZH FDQQRW NQRZ
07&3KDVWKHIROORZLQJDGYDQWDJHV
'RHVQRWUHTXLUHDQ\PRGLILFDWLRQRQUHFHLYHUVLGH 07&3 SURYLGHV SRLQWWRSRLQW PXOWLFDVW FRPPXQLFDWLRQ $V D QRYHO IXQFWLRQ RI 6,0 RXU EDVHG H[SOLFLW PXOWLFDVW
ZKHWKHU WKH SDFNHW ORVW RFFXUUHG E\ LQDSSURSULDWH JURXS¶V UHWUDQVPLVVLRQWLPHRXW572 WLPHURUE\WKHFRQJHVWLRQRI WKHQHWZRUN,IWKH 572 LVQRWDSSURSULDWHLWZLOOEH DOZD\V WLPHRXW EHIRUH ZH UHFHLYH $&.V IURP VRPH UHFHLYHUV HYHQ WKRXJKWKH\KDYHUHFHLYHGWKHSDFNHWV
$&. VXSSUHVVLRQ ZKHQ WKHUH DUH PDQ\ JURXSV RQ WKH
7UDQVPLVVLRQ3URFHGXUHLQ07&3
VDPHVHQGHU $V GHVFULEHG LQ VHFWLRQ 07&3 FDQ DYRLG WKH $&.
7KH WUDQVPLVVLRQ LV EDVHG RQ WKH FDSDELOLW\ RI HDFK UHFHLYHU
VXSSUHVVLRQRQWKHVHQGHU7KLVLVWUXHZKHQZHDVVXPHWKDW
:KHQDVXEVHWRIUHFHLYHUVLQWKHJURXSORVVDSDFNHW7KHORVW
WKHVHQGHUKROGVDVPDOOPXOWLFDVWJURXS%XWZKHQWKHUHDUH
SDFNHW ZLOO EH UHWUDQVPLWWHG LQ DQRWKHU 7&3 IORZ 7KH
PXOWLSOHPXOWLFDVWVHVVLRQVRUPXOWLSOHPXOWLFDVWJURXSVRQWKH
WUDQVPLVVLRQUDWHZLOOQRWEHGRPLQDWHGE\WKHVORZHVWUHFHLYHU
VDPH VHQGHU $&. VXSSUHVVLRQ FDQ EH RFFXUUHG ,Q 07&3
7KH IROORZLQJ SURFHGXUH ZLOO EH SHUIRUPHG ZKHQ D SDFNHW
RQO\WKHVHQGHUFRQFHUQVWRWKHPXOWLFDVWWUDQVPLVVLRQ7KHUH
ORVV
LVQRWDQ\VWUDWHJ\WRDJJUHJDWH$&.VEHIRUHUHSRUWLQJWKHPWR
z
WKHVHQGHUDVSURSRVHGLQ>@
z
7DUJHW$SSOLFDWLRQV
07&3 LV WDUJHW WR VXSSRUW WKH DSSOLFDWLRQV WKDW KDYH WKH
z
:KHQWKHUHDUHWZRRUPRUHUHFHLYHUORVWWKHVDPHSDFNHW WKHUHWUDQVPLVVLRQZLOOEHSHUIRUPHGE\PXOWLFDVW :KHQRQO\RQHUHFHLYHUORVWWKHSDFNHWWKHWUDQVPLVVLRQ ZLOOEHSHUIRUPHGE\XQLFDVW :KHQ WKH UHWUDQVPLVVLRQ ILQLVKHG QHZ SDFNHWV ZLOO EH WUDQVPLWWHG VHSDUDWHO\ WR WKH JURXS RI UHFHLYHUV ZKR KDV
IROORZLQJFKDUDFWHULVWLFV
z
$5HTXLUHDKLJKUHOLDELOLW\
H[SHULHQFHGSDFNHWORVV 7KHUHWUDQVPLVVLRQJURXSZLOOEHUHJURXSHGDJDLQZKHQ
07&3 DV D NLQG RI 7&3 SURYLGHV UHOLDELOLWLHV E\ UHFHLYH
WKH JURXS ZKR KDV H[SHULHQFHG SDFNHW ORVV UHDFKHG WKH
SDFNHWVLQRUGHUGLVFDUGLQJGXSOLFDWHGSDFNHWVUHWUDQVPLVVLRQ
WUDQVPLVVLRQUDWHZLWKWKHRULJLQDOWUDQVPLVVLRQIORZ
ORVVSDFNHWVDQGSURYLGLQJFKHFNVXPWRGHWHFWZKHWKHUGDWDLV PRGLILHGEHIRUHLWUHDFKHGWKHUHFHLYHUV
%$V\PPHWULFDO'DWD7UDQVPLVVLRQ %DVLFDOO\ 07&3 LV GHVLJQHG IRU RQHWRPDQ\ PXOWLFDVW FRPPXQLFDWLRQV
DOWKRXJK
PDQ\WRPD\
PXOWLFDVW
FRPPXQLFDWLRQV FDQ KDQGOH E\ XVLQJ PXOWLSOH PXOWLFDVW JURXSV07&3ZLOOEHEHVWIRUWKHDV\PPHWULFDODSSOLFDWLRQ LHWKHWUDIILFIURPWKHVHQGHULVPXFKPRUHWKDQWUDIILFVIURP WKH UHFHLYHUV 7KH WUDQVPLVVLRQ ZLOO EH WULJJHUHG IURP WKH VHQGHUVLGH&RPPRQO\RQO\WKHVHQGHUZLOOWUDQVIHUWKHGDWD $SSOLFDWLRQV WKDW KDYH WKH FKDUDFWHULVWLFV OLNH WKLV DUH IRU H[DPSOH)736073DQG1173 )LJXUH7UDQVPLVLVRQLQ07&3
&1RQUHDOWLPHDQGQRQPXOWLPHGLDVHUYLFH 8VXDOO\ PXOWLPHGLD GDWD VWUHDPV VXFK DV VRXQGV DQG JUDSKLFV FDQ EH GLYLGHG LQWR PXOWLSOH OD\HUV DQG WUDQVIHUUHG VHSDUDWHO\ LQ PXOWLSOH PXOWLFDVW JURXSV 7KLV PHWKRG WR WUDQVPLWOD\HUHGGDWDLQPXOWLSOHPXOWLFDVWJURXSVLVSURSRVHG LQ >@ DQG >@ 7KH UHFHLYHUV FDQ UHFHLYH GDWD LQ WKH DSSURSULDWH
UDWH
E\
MRLQLQJ
PXOWLSOH
PXOWLFDVW
JURXSV
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
&RQJHVWLRQ&RQWUROLQ07&3
&RQJHVWLRQ FRQWURO LQ PXOWLFDVW LV GLIILFXOW WKDQ LQ XQLFDVW VLQFH UHFHLYHUV LQ D JURXS ZLWK GLIIHUHQW UHTXLUHPHQWV PDQ\ H[LVW $GDSWLQJ WR WKH QHHGV RI RQH VHW RI UHFHLYHUV ZRXOG SHQDOL]HRWKHUVZLWKGLIIHUHQWUHTXLUHPHQWV7KHJRDORIIORZ FRQWURO LQ PXOWLFDVW LV WR PDNH WKH VHQGHU WUDQVPLW QR IDVWHU WKDQ WKH UDWH DYDLODEOH DW WKH VORZHVW UHFHLYHU &RQJHVWLRQ FRQWUROLQ07&3LVDVWKHIROORZLQJ
5HFHLYHUEDVHG FRQJHVWLRQ FRQWURO 7KH DFNQRZOHGJHPHQW
)DVW UHWUDQVPLVVLRQ DQG )DVW 5HFRYHU\ ,Q 7&3 WKH IDVW
FXPXODWLYHO\UHSRUWHGWRWKHVHQGHUDQGWKHSDFNHWORVVWKHVH
UHWUDQVPLVVLRQ LV DFFRPSOLVKHG E\ XVLQJ GXSOLFDWH $&.
IHHGEDFNVZLOOEHXVHGWRDGMXVWWKHVHQGHUWUDQVPLVVLRQUDWH
PHFKDQLVP7&3ZLOOUHWUDQVPLWWKHSDFNHWZKHQWKH\JRWWKH
5HFHLYHUV ZLOO EH UHJURXSHG DFFRUGLQJ WR SDFNHW ORVV WKH\
DFNQRZOHGJHPHQWIRUWKHVDPHSDFNHWVWKUHHWLPHV7KHUHIRUH
KDYHH[SHULHQFHG:KHQWKHUHLVDERWWOHQHFNUHFHLYHULQWKH
ZHKDYHWRZDLWXQWLO$&.DQGGXSOLFDWH$&.UHWXUQHGIURP
PXOWLFDVWJURXSWKDWUHFHLYHUZLOO EHGHOHWHGIURPWKH JURXS
DOOUHFHLYHUV:HFDQQRWUHWUDQVPLWWKHSDFNHWVDVVRRQDVZH
DQGUHFHLYHWKHGDWDYLDXQLFDVWLQVWHDG5HFHLYHUVZKR KDYH
JRW GXSOLFDWH $&. WKUHH WLPHV IURP WKH VDPH UHFHLYHUV ,Q
WKH VDPH UHFHLYLQJ UDWH LH UHFHLYHUV ZKR KDYH H[SHULHQFHG
SUDFWLFDOZKHQZHUHFHLYHWKHGXSOLFDWH$&.PRUHWKDQWKUHH
WKHVDPHORVWUDWHZLOOEHFODVVLILHGLQWKHVDPHJURXS)LQDOO\
WLPHVIURPWKHVDPHUHFHLYHUZHZLOOLQWHUSUHWLWDVDQHJDWLYH
UHFHLYHUV ZLWK WKH KLJKHU UHFHLYLQJ UDWH FDQ ILQLVK WKH
$&. 1$&. 5HWUDQVPLVVLRQ RI ORVV SDFNHW ZLOO EH SHUIRUPHG ZKHQ WKH JURXS¶V 572 LV H[SLUHG RU ZKHQ WKH
WUDQVPLVVLRQIDVWHU
QXPEHU RI $&. DQG 1$&. LV HTXDO WR WKH QXPEHU RI WKH :LQGRZVL]HG EDVHG FRQWURO :LQGRZ VL]H LV EDVHG RQ
UHFHLYHUV ,I$&.1$&.
DFNQRZOHGJHPHQWRIVHQWGDWDZKLFKKDVWRZDLWIRU577,Q
VORZHVWUHFHLYHU ,Q WKH ZRUVW FDVH7&3 WUDQVPLVVLRQUDWH LV
`
:PLQ577PD[ ZKHUH :PLQ LV WKH PLQLPXP ZLQGRZ VL]H
,PSOHPHQWDWLRQ,VVXHV
DQG 577PD[ LV WKH PD[LPXP URXQGWULS WLPH DPRQJ WKH UHFHLYHUV(YHQDOOUHFHLYHUVVKDUHVRPHSDWKVRIWKHPXOWLFDVW OLQNV WKH SDFNHWV ILQDOO\ UHDFK HDFK UHFHLYHUV WKURXJK WKH GLIIHUHQW SDWKV ,W LV WRR GLIILFXOW WR MXVWLFH ZKHWKHU WKH FRQJHVWLRQWKDWKDVRFFXUUHGRQDVSHFLILFSDWKDIIHFWVDOO WKH
1XPEHURI5HFHLYHUV ^
3URFHVV5(75$160,66,21'$7$
PXOWLFDVW WKH WUDQVPLVVLRQ UDWH LV ILQDOO\ FRQWUROOHG E\ WKH
7KLVVHFWLRQGHVFULEHVWKHLPSOHPHQWDWLRQLVVXHVRI07&3 ,Q WKH SUHVHQW 07&3 LV XQGHU GHYHORSPHQW RQ )UHH%6' 5HOHDVH
UHFHLYHUV %\ WKLV UHDVRQ FRQJHVWLRQ FRQWURO LV D GLIILFXOW LVVXH RI PXOWLFDVW 7KDW PHDQV ZH KDYH WR NHHS WKH
07&3+HDGHU)RUPDW
FRQJHVWLRQ ZLQGRZ DQG SDFNHW ORVV VHSDUDWHO\ IRU HDFK UHFHLYHU
6RPHILHOGVLQWKH7&3KHDGHUDUHGLIIHUHQWIRUHDFKUHFHLYHU 7KHVHILHOGVDUHGHVWLQDWLRQSRUWDFNQRZOHGJHPHQW VHTXHQFH
/RVVGULYHQDGGLWLYHLQFUHDVHPXOWLSOLFDWLYHGHFUHDVH$,0' SROLF\07&3XVHV$,0'SROLF\WRFRQWUROWKHFRQJHVWLRQDV VDPH DV WKH H[LVWLQJ 7&3 $W WKH EHJLQQLQJ RI WKH WUDQVPLVVLRQ VORZ VWDUW PHFKDQLVP LV XVHG 7KH FRQJHVWLRQ ZLQGRZLVLQFUHDVHGE\RQHSDFNHWXSRQWKHUHFHLSWRI$&.V IURPDOOWKHUHFHLYHUV:KHQWKHPXOWLFDVWFRQJHVWLRQZLQGRZ
QXPEHU KHDGHU OHQJWK DQG FKHFNVXP ,Q DGGLWLRQ WR UHGXFH FRVWV RI FDOFXODWLQJ FKHFNVXP RQ 6,0 URXWHUV ZH FRPSXWH 7&3FKHFNVXPIRUHDFKUHFHLYHUDWWKHVHQGHUDQGDWWDFKWKHP WR6,0RSWLRQV%HIRUHWKHSDFNHWVUHDFKWKHUHFHLYHUVWKHODVW EUDQFKLQJ6,0URXWHULVUHVSRQVHWRUHZULWLQJWKHPDVLIWKH\ DUHXQLFDVWSDFNHWVVHQWWRHDFKUHFHLYHU
UHDFK WKH VORZ VWDUW WKUHVKROG VVWKUHVK WKH FRQJHVWLRQ DYRLGDQFH PHFKDQLVP ZLOO EH XVHG 7KDW LV DOO FRQJHVWLRQ ZLQGRZVKDYHWREHUHVHWWRKDOIRILWVVVWKUHVK7KHVPDOOHVW FRQJHVWLRQ ZLQGRZ ZLOO EH XVHG DV WKH PXOWLFDVW FRQJHVWLRQ ZLQGRZ
5HWUDQVPLVVLRQ
07&3ZLOOWUDQVPLWWKHORVWSDFNHWWRWKHFKLOGUHQPXOWLFDVW JURXS7KH³&KLOGUHQPXOWLFDVWJURXS´LVDQHZJURXSGLYLGHG IURP WKH RULJLQDO PXOWLFDVW JURXSV ZKHQ D SDFNHW ORVV LV RFFXUUHG,WFRQWDLQVZLWKUHFHLYHUVZKRORVWWKHSDFNHW:H ZLOOQHYHUUHWUDQVPLWWKHSDFNHWWRWKHRULJLQDOPXOWLFDVWJURXS
)LJXUH07&3+HDGHU)RUPDW
XQOHVVDOOUHFHLYHUVORVWWKHSDFNHW
5HWUDQVPLVVLRQ 7LPH 2XW 5HWUDQVPLVVLRQ 7LPH 2XW 572
0XOWLFDVW*URXS0HPEHUVKLS
KDV WR EH VHW LQ RUGHU WR DOORZ WKH VORZHVW UHFHLYHUV UHWXUQ $&.V ,Q7&3 572LV EDVLFDOO\FDOFXODWHG IURPWKH 5RXQG
$V WKH VSHFLILFDWLRQ RI 6,0 D PXOWLFDVW JURXS LV LGHQWLILHG
7ULS 7LPH 577 ,Q PXOWLFDVW ZH FDQ JXDUDQWHH WKDW WKH
E\WKHFRPELQDWLRQRIVHQGHUDGGUHVVDQGWKHPXOWLFDVWJURXS
SDFNHWZLOOUHDFKWKHUHFHLYHUVWKURXJKWKHVDPHURXWLQJSDWK
DGGUHVV 7KH JURXS PXOWLFDVW DGGUHVV LV KDQGHG RYHU WR
7KH\ZLOOKDYHWKHGLIIHUHQW577V,QVWHDGRIFDOFXODWLQJWKH
07&3 E\ XVLQJ FRQQHFW V\VWHP FDOO 7R DGG RU GHOHWH
572IRUDPXOWLFDVWJURXSE\XVLQJWKHELJJHVW577V 572V
UHFHLYHUVIURPDJURXSVHWVRFNRSW IXQFWLRQZLOOEHXVHG
VKRXOGEHFDOFXODWHGVHSDUDWHO\IRUHDFKUHFHLYHU7KHODUJHVW 572ZLOOEHXVHGDVWKHJURXS¶VWLPHU 572
L
PLQ572 572
L«572Q
VHWVRFNRSW ,1B6,=(Q
V
,335272B7&3
7&3B$''
DGGUBOLVW
VHWVRFNRSW
V
,335272B7&3
7&3B'(/
DGGUBOLVW
,1B6,=(Q
&RRSHUDWLRQZLWK6,0
07&3XVHVWKHIROORZLQJPWBUFYBLQIRVWUXFWXUHWRPDLQWDLQV UHFHLYHU OLVW WKH DFNQRZOHGJHPHQW QXPEHUV DQG 7&3 KHDGHU FKHFNVXPVIRUHDFKUHFHLYHU
VWUXFWPWBUFYBLQIR^ VWUXFWLQBDGGUPBGHVWLQDWLRQBDGGUHVV XBLQWBWPBDFN XBVKRUWPBFKHFNVXP 7$,/4B(175<PWBUFYBLQIR
PBULQIR
SRLQWHU
WR
QH[WSUH PBUFYBLQIR^` `
7KLV LQIRUPDWLRQ ZLOO EH KDQGHG RYHU WR 6,0 RXU H[SOLFLW PXOWLFDVW URXWLQJ SURWRFRO 5HFHLYHU OLVW IRU D JURXS ZLOO EH DWWDFKHGWR6,0KHDGHU7KHDFNQRZOHGJHPHQWQXPEHUVDQG FKHFNVXPVZLOOEHDWWDFKHGWR6,0RSWLRQ)LJXUH 2QWKH
)LJXUH([WHQVLRQWR3URWRFRO&RQWURO%ORFNV
ODVWPXOWLFDVWEUDQFKLQJ6,0URXWHUWKHSDFNHWKHDGHUZLOOEH
'LVFXVVLRQVDQG)XWXUH:RUNV
UHFUHDWHG IRU XQLFDVW SDFNHWV EHIRUH WUDQVPLWWLQJ WKH SDFNHWV WR HDFK UHFHLYHU 6,0 KHDGHU ZLOO EH GHWDFKHG DQG WKH DFNQRZOHGJPHQWQXPEHUVDQGFKHFNVXPVLQ6,0RSWLRQ ZLOO
,Q WKLV VHFWLRQ ZH ZLOO GLVFXVV DERXW SDFNHW RYHUKHDG WKH
EHXVHGWRUHSODFHWKHILHOGVLQ07&3KHDGHU
H[WHQVLRQ WR VRFNHW EXIIHU UHVWULFWLRQ RI PHPEHUVKLS DQG SHUIRUPDQFHHYDOXDWLRQ
3DFNHW2YHUKHDG ,Q WKH SUHVHQFH ZH XVH PXOWLFDVW WR WUDQVIHU HYHU\ SDFNHW +RZHYHU LQ WKH SUDFWLFDO LW LV QRW DSSURSULDWH LI ZH KDYH WR WUDQVPLWDVPDOOSDFNHWZLWKDELJKHDGHU7KHH[DPSOHIRUWKH GDWD WKDW LV TXLWH VPDOO DQG GLIIHUHQW IRU HDFK UHFHLYHU LV $&.RQO\SDFNHW&RQVLGHULQJWRWKHRYHUKHDGRXUPXOWLFDVW URXWHUV KDYH WR SURFHVV WKH KHDGHU VXFK GDWD LV SUHIHUDEO\ WUDQVPLWWHGE\XQLFDVW )LJXUH6,0DQG07&33DFNHW+HDGHU
([WHQVLRQWRVRFNHWEXIIHU
([WHQVLRQWR3URWRFRO&RQWURO%ORFNV
,QWKHSUHVHQWZHXVHRQO\RQHFRPPRQVRFNHWEXIIHUIRUD PXOWLFDVW JURXS +RZHYHU GHSHQGLQJ RQ WKH DSSOLFDWLRQV
7RPDLQWDLQHDFKUHFHLYHU¶V,3DGGUHVVZHKDYHWRFUHDWHWKH
LQGLYLGXDOSDUDPHWHUVVXFKDVSDVVZRUGDQGXVHUQDPHKDYH
,QWHUQHW SURWRFRO FRQWURO EORFN LQSFE IRU HDFK UHFHLYHU
WRXVHLQRUGHUWRWUDQVPLWGDWD6LPLODUO\HDFKUHFHLYHUPD\
0RUHRYHU VWDWH LQIRUPDWLRQ VXFK DV GXSOLFDWH $&. DQG
UHWXUQRUWUDQVPLWGLIIHUHQWGDWDEDFNWRWKHVHQGHU,QRUGHUWR
UHWUDQVPLVVLRQ WLPHU KDV WR EH PDLQWDLQHG LQGLYLGXDOO\
SURYLGH PRUH UHGXQGDQF\ ZH KDYH WR WUHDW HDFK UHFHLYHU
7KHUHIRUHZHKDYHWRFUHDWHWKHWUDQVPLVVLRQFRQWUROSURWRFRO
VHSDUDWHO\ ,Q WKH IXWXUH ZH SODQ WR H[WHQG ERWK WKH VHQG
FRQWUROEORFNWFSFE IRUHDFKUHFHLYHU)LJXUH
VRFNHWEXIIHUVRBVQG DQGUHFHLYHVRFNHWEXIIHUVRBUFY
$W SUHVHQFH ZH SURYLGH RQO\ RQH VHQG VRFNHW EXIIHU IRU D PXOWLFDVWJURXS'DWDZLOOEHGHOHWHGIURPVHQGVRFNHWEXIIHU
5HVWULFWLRQRI0HPEHUVKLS
ZKHQHYHU ZH JRW $&.V IURPDOO UHFHLYHUV RI D JURXS ,I WKH
,Q 07&3 WKH VHQGHU ZLOO GHWHUPLQH ZKR FDQ MRLQ WKH
572 WLPHU LV WLPHRXW EHIRUH UHFHLYLQJ $&.V IURP DOO
PXOWLFDVWJURXS5HVWULFWLRQRIUHFHLYHUZLOOEHHVVHQWLDOZKHQ
UHFHLYHUV UHFHLYHUV ZKR DVVXPHG WR ORVV WKH SDFNHW ZLOO EH
WKHVHQGHUZDQWWRWUDQVIHUVRPHFRPPHUFLDOFRQWHQWVVXFKDV
FODVVLILHG WR DQRWKHU PXOWLFDVW JURXS 'DWD ZLOO EH FRSLHG
DVRIWZDUHSURJUDP7KHVHQGHUKDVWRDXWKHQWLFDWHUHFHLYHUV
IURPWKHRULJLQDOVHQGVRFNHWEXIIHUWRWKDWRIWKHQHZJURXS
EHIRUH DGGLQJ WKHP WR WKH PXOWLFDVW JURXS 7R VXSSRUW WKLV
7KLVGDWDZLOOEHXVHGLQUHWUDQVPLVVLRQWKHORVWSDFNHW7KHQ
NLQGRIDSSOLFDWLRQRQHSRVVLEOHVWUDWHJ\LVWRVHQGUHFHLYHUDQ
ZH FDQ GHOHWH WKH VHJPHQW WKDW LV DFNQRZOHGJHG IURP WKH
LQYLWDWLRQPHVVDJHZLWKDQDXWKHQWLFDWLRQNH\)LJXUH 7KLV
RULJLQDOVHQGVRFNHWEXIIHU
IXQFWLRQFDQEHLPSOHPHQWHGLQDSSOLFDWLRQOD\HUDQGH[HFXWHG EHIRUH07&3DGGVWKHUHFHLYHUWRWKHJURXS
>@ 1DRKLNR 7DNXUD HW DO $Q DSSURDFKWR UHDOL]H PXOWLFDVW IDFLOLW\ LQ 7&3 SURWRFRO
0XOWLPHGLD
FRPPXQLFDWLRQ
DQG
'LVWULEXWHG
&RPSXWLQJ
:RUNVKRS,36--DSDQ >@ 6 0F&DQQH Y -DFREVRQ DQG 0 9HWWHUOL 5HFHLYHUGULYHQ OD\HUG PXOWLFDVW$&06,*&200¶2FWREHU >@ 9DQ-DFREVRQ0LFKDHO-.DUHOV³&RQJHVWLRQ$YRLGDQFHDQG&RQWURO´ 6,*&200¶1RYHPEHU >@ +: +ROEURRN 'DYLG 5 &KHULWRQ ,3 0XOWLFDVW &KDQQHOV (;35(66 6XSSRUW IRU /DUJH6FDOH 6LQJOH6RXUFH $SSOLFDWLRQV 6,*&200¶ >@ ' 2RPV : /LYHQV ³&RQQHFWLRQOHVV 0XOWLFDVW´ ,QWHUQHW 'UDIW GUDIW RRPVFOPXOWLFDVWW[W2FW >@ , @ /MXELFD %OD]HYLF -HDQ@ / 9LFLVDQR / 5L]]R - &URZFURIW ³7&3OLNH &RQJHVWLRQ &RQWURO IRU /D\HUHG0XOWLFDVW'DWD7UDQVIHU´,(((,QIRFRP¶6DQ)UDQFLVFR&$ 0DU$SU >@ % :KHWWHQ - &RQODQ ³$ 5DWH %DVHG &RQJHVWLRQ &RQWURO 6FKHPH IRU 5HOLDEOH
0XOWLFDVW´
7HFKQLFDO
:KLWH
3DSHU
*OREDO&DVW
&RPPXQLFDWLRQV1RY >@ /XLJL 5L]]R ³SJPFF D 7&3IULHQGO\ VLQJOHUDWH PXOWLFDVW FRQJHVWLRQ
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
5()(5(1&(6
>@
6( 'HHULQJ +RVW ([WHQVLRQV IRU ,3 0XOWLFDVWLQJ 5)& 65, 1HWZRUN,QIRUPDWLRQ&HQWHU0D\
>@
& *UDII ,3Y RSWLRQ IRU 6HQGHU 'LUHFWHG 0XOWL'HVWLQDWLRQ 'HOLYHU\ 5)&
>@
'LVWULEXWHG
&RUH
0XOWLFDVW
'&0
$&0
6,*&200
&RPSXWHU
&RPPXQLFDWLRQ5HYLHZ2FWREHU9RO1RSS >@
& 3DUWULGJH ³5H 5HOLDEOH 'DWDJUDP """ 3URWRFROV´ 0HVVDJH,' #EEQ%%1&20
8VHQHW
FRPSSURWRFROVWFSLS
1HZVJURXS
2FW >@
- 3RVWHO - 5H\QROGV ³)LOH 7UDQVIHU 3URWRFRO´ 67' 5)& ,6, 2FWREHU
>@
- 3RVWHO ³6LPSOH 0DLO 7UDQVIHU 3URWRFRO´ 67' 5)& 86&,QIRUPDWLRQ6FLHQFHV,QVWLWXWH$XJXVW
>@
.DQWRU%DQG3/DSVOH\³1HWZRUN1HZV7UDQVIHU3URWRFRO´5)& )HEXDU\
>@
- 3RVWHO ,QWHUQHW 3URWRFRO 7HFKQLFDO 5HSRUW 5)& 65, 1HWZRUN
>@
- 3RVWHO 7UDQVPLVVLRQ &RQWURO 3URWRFRO 5)& 65, 1HWZRUN
,QIRUPDWLRQ&HQWHU6HSWHPEHU
,QIRUPDWLRQ&HQWHU6HSHWHPEHU
FRQWUROVFKHPH´6,*&200¶6WRFNKROP6ZHGHQ >@ 6SHDNPDQ7HWDO3*05HOLDEOH7UDQVSRUW3URWRFRO&,6&26\VWHPV $SULO,QWHUQHW'UDIWGUDIWVSHDNPDQSJPVSHFW[W