In addition to Pisier's counterexample of a non-accessible maximal Banach ideal, we will give a large class of maximal Banach ideals which are accessible. The first step is implied by the observation that a "good behaviour" of trace duality, which is canonically induced by conjugate operator ideals can be extended to adjoint Banach ideals, if and only if these adjoint ideals satisfy an accessibility condition (theorem 3.1). This observation leads in a natural way to a characterization of accessible injective Banach ideals, where we also recognize the appearance of the ideal of absolutely summing operators (prop. 4.1). By the famous Grothendieck inequality, every operator from L 1 to a Hilbert space is absolutely summing, and therefore our search for such ideals will be directed towards Hilbert space factorization -via an operator version of Grothendieck's inequality (lemma 4.2). As a consequence, we obtain a class of injective ideals, which are "quasi-accessible", and with the help of tensor stability, we improve the corresponding norm inequalities, to get accessibility (theorem 4.1 and 4.2). In the last chapter of this paper we give applications, which are implied by a non-trivial link of the above mentioned considerations to normed products of operator ideals.
We present criteria and related techniques which help to decide whether the adjoint operator ideal (π*, A*) of an injective and totally accessible maximal Banach ideal (π, A) is itself also totally accessible. This approach (which involves the transfer of the principle of local reflexivity to operator ideals) is based on the extension of finite rank operators, viewed as elements of the adjoint ideal (π*, A*). Using the local properties (I) and (S) of the corresponding product ideal π* β πβ, these methods even enable us to show that πβ and π1 cannot be totally accessible β answering an open question of Defant and Floret.
Abstract. We introduce an innovative theoretical framework to model derivative transactions between defaultable entities based on the principle of arbitrage freedom. Our framework extends the traditional formulations based on Credit and Debit Valuation Adjustments (CVA and DVA).Depending on how the default contingency is accounted for, we list a total of ten different structuring styles. These include bipartite structures between a bank and a counterparty, tri-partite structures with one margin lender in addition, quadri-partite structures with two margin lenders and, most importantly, configurations where all derivative transactions are cleared through a Central Counterparty (CCP).We compare the various structuring styles under a number of criteria including consistency from an accounting standpoint, counterparty risk hedgeability, numerical complexity, transaction portability upon default, induced behaviour and macro-economic impact of the implied wealth allocation.
The synthesis of derivatives of 5'-noraristeromycin 1 in which its C-4' hydroxy group has been ( i ) replaced b y a fluorine atom (5) and ( i i ) inverted (6) is described starting from the diacetate of (Z)-cyclopentene-3,5-diol.
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