This paper deals with a fundamental subject that has seldom been addressed in recent years, that of market impact in the options market. Our analysis is based on a proprietary database of metaorders -large orders that are split into smaller pieces before being sent to the market -on one of the main Asian markets. In line with our previous work on the equity market [Said et al., 2018], we propose an algorithmic approach to identify metaorders, based on some implied volatility parameters, the at the money forward volatility and at the money forward skew. In both cases, we obtain results similar to the now well understood equity market: Square-root law, Fair Pricing Condition and Market Impact Dynamics.
360 Background: The aim of this retrospective study was to evaluate the prognostic value of NLR in NMIBC as it was recently suggested in the literature. Methods: Patients included in the study were diagnosed between 1992 and 2013 with a T1 stage bladder cancer either primarily or following progression. NLR was calculated using the pre-operative (TURB or cystectomy) work-up. Results were expressed as median and interquartile range (IQ) unless indicated otherwise. Results: Seventy-eight patients were analyzed (12 females and 67 males). Mean age: 68.3 years. At diagnosis (1st TURB): median grade according to the WHO 1973 classification: 3 (IQ = 1), median NLR: 3.1 (IQ = 2.4 and range 1.0- 25.7). There was no significant difference between NLR when comparing stage, grade and gender subgroups. During FU (median 6.2 years): median number of TURB: 3.3. Observed NLR was higher in the highest risk groups, however the difference was significant only for grade progression and when comparing pT0 stage vs pTa or higher at the last biopsy/TURB (see table). NLR variation for each patient (NLR at diagnosis – NLR at the last TURB) was not associated with bladder tumor evolution. Conclusions: We found that NLR was higher in NMIBC with a high risk of progression. These data warrant a further evaluation of this potential, readily available prognostic marker in NMIBC. [Table: see text]
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