Simulating the Synchronizing Behavior of High-Frequency Trading in Multiple Markets

Nearly one-half of all trades in financial markets are executed by high-speed, autonomous computer programs -- a type of trading often called high-frequency trading (HFT). Although evidence suggests that HFT increases the efficiency of markets, it is unclear how or why it produces this outcome. Here we create a simple model to study the impact of HFT on investors who trade similar securities in different markets. We show that HFT can improve liquidity by allowing more transactions to take place without adversely affecting pricing or volatility. In the model, HFT synchronizes the prices of the securities, which allows buyers and sellers to find one another across markets and increases the likelihood of competitive orders being filled.Comment: 7 pages, 4 figures, 1 tabl

Coxeter-Knuth graphs and a signed Little map for type B reduced words

We define an analog of David Little's algorithm for reduced words in type B, and investigate its main properties. In particular, we show that our algorithm preserves the recording tableau of Kra\'{s}kiewicz insertion, and that it provides a bijective realization of the Type B transition equations in Schubert calculus. Many other aspects of type A theory carry over to this new setting. Our primary tool is a shifted version of the dual equivalence graphs defined by Assaf and further developed by Roberts. We provide an axiomatic characterization of shifted dual equivalence graphs, and use them to prove a structure theorem for the graph of Type B Coxeter-Knuth relations.Comment: 41 pages, 10 figures, many improvements from version 1, substantively the same as the version in Electronic Journal of Combinatorics, Vol 21, Issue

A Positive Energy Theorem for P(X,phi) Theories

We describe a positive energy theorem for Einstein gravity coupled to scalar fields with first-derivative interactions, so-called P(X,phi) theories. We offer two independent derivations of this result. The first method introduces an auxiliary field to map the theory to a lagrangian describing two canonical scalar fields, where one can apply a positive energy result of Boucher and Townsend. The second method works directly at the P(X,phi) level and uses spinorial arguments introduced by Witten. The latter approach follows that of arXiv:1310.1663, but the end result is less restrictive. We point to the technical step where our derivation deviates from theirs. One of the more interesting implications of our analysis is to show it is possible to have positive energy in cases where dispersion relations following from locality and S-Matrix analyticity are violated.Comment: 5 pages. v2: Typos corrected, references adde

Functional Sites Induce Long-Range Evolutionary Constraints in Enzymes

Functional residues in proteins tend to be highly conserved over evolutionary time. However, to what extent functional sites impose evolutionary constraints on nearby or even more distant residues is not known. Here, we report pervasive conservation gradients toward catalytic residues in a dataset of 524 distinct enzymes: evolutionary conservation decreases approximately linearly with increasing distance to the nearest catalytic residue in the protein structure. This trend encompasses, on average, 80% of the residues in any enzyme, and it is independent of known structural constraints on protein evolution such as residue packing or solvent accessibility. Further, the trend exists in both monomeric and multimeric enzymes and irrespective of enzyme size and/or location of the active site in the enzyme structure. By contrast, sites in protein–protein interfaces, unlike catalytic residues, are only weakly conserved and induce only minor rate gradients. In aggregate, these observations show that functional sites, and in particular catalytic residues, induce long-range evolutionary constraints in enzymes.Fil: Jack, Benjamin R.. University of Texas at Austin; Estados UnidosFil: Meyer, Austin G.. University of Texas at Austin; Estados UnidosFil: Echave, Julián. Universidad Nacional de San Martín. Escuela de Ciencia y Tecnología; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; ArgentinaFil: Wilke, Claus O.. University of Texas at Austin; Estados Unido

Axiomatic Information Thermodynamics

We present an axiomatic framework for thermodynamics that incorporates information as a fundamental concept. The axioms describe both ordinary thermodynamic processes and those in which information is acquired, used and erased, as in the operation of Maxwell's demon. This system, like previous axiomatic systems for thermodynamics, supports the construction of conserved quantities and an entropy function governing state changes. Here, however, the entropy exhibits both information and thermodynamic aspects. Although our axioms are not based upon probabilistic concepts, a natural and highly useful concept of probability emerges from the entropy function itself. Our abstract system has many models, including both classical and quantum examples.Comment: 52 pages, 5 figures. Revised 28 Mar 201

Improving the numerical stability of fast matrix multiplication

Fast algorithms for matrix multiplication, namely those that perform asymptotically fewer scalar operations than the classical algorithm, have been considered primarily of theoretical interest. Apart from Strassen's original algorithm, few fast algorithms have been efficiently implemented or used in practical applications. However, there exist many practical alternatives to Strassen's algorithm with varying performance and numerical properties. Fast algorithms are known to be numerically stable, but because their error bounds are slightly weaker than the classical algorithm, they are not used even in cases where they provide a performance benefit. We argue in this paper that the numerical sacrifice of fast algorithms, particularly for the typical use cases of practical algorithms, is not prohibitive, and we explore ways to improve the accuracy both theoretically and empirically. The numerical accuracy of fast matrix multiplication depends on properties of the algorithm and of the input matrices, and we consider both contributions independently. We generalize and tighten previous error analyses of fast algorithms and compare their properties. We discuss algorithmic techniques for improving the error guarantees from two perspectives: manipulating the algorithms, and reducing input anomalies by various forms of diagonal scaling. Finally, we benchmark performance and demonstrate our improved numerical accuracy

Dual wavelength excitation for the time-resolved photoluminescence imaging of painted ancient Egyptian objects

Background: The scientific imaging of works of art is crucial for the assessment of the presence and distribution of pigments and other materials on surfaces. It is known that some ancient pigments are luminescent: these include pink red-lakes and the blue and purple pigments Egyptian Blue (CaCuSi4O10), Han blue (BaCuSi4O10) and Han purple (BaCuSi2O6). Indeed, the unique near-infrared luminescence emission of Egyptian blue allows the imaging of its distribution on surfaces. Results: We focus on the imaging of the time-resolved photoluminescence of ancient Egyptian objects in the Burri Collection from the Civic Museum of Crema and of the Cremasco (Italy). Time-resolved photoluminescence images have been acquired using excitation at 355 nm for detecting the ns-emission of red lakes and binding media; by employing 532 nm excitation Egyptian blue is probed, and the spatial distribution of its long-lived microsecond emission is imaged. For the first time we provide data on the photoluminescence lifetime of Egyptian blue directly from objects. Moreover, we demonstrate that the use of a pulsed laser emitting at two different wavelengths increases the effectiveness of the lifetime imaging technique for mapping the presence of emissions from pigments on painted surfaces. Laser-induced luminescence spectra from different areas of the objects and traditional digital imaging, using led-based lamps, long pass filters and a commercial photographic camera, complement the results from photoluminescence lifetime imaging. We demonstrate the versatility of a new instrumental setup, capable of recording decay emission kinetics with lifetimes from nanosecond to microseconds. Conclusions: While the combined wavelength approach for the imaging of emissions from different materials has been demonstrated for the study of ancient Egyptian pigments (both organic and inorganic), the method could be extended to the analysis of modern pigments and paintings

Land Grant Application- Austin, Benjamin (York)

Land grant application submitted to the Maine Land Office on behalf of Benjamin Austin for service in the Revolutionary War, by their widow Abigail.https://digitalmaine.com/revolutionary_war_me_land_office/1036/thumbnail.jp

Use of GoFundMe® to crowdfund complementary and alternative medicine treatments for cancer.

PurposeComplementary and alternative medicine (CAM) use is common amongst cancer patients. However, there is growing concern about its safety and efficacy. Online crowdfunding campaigns represent a unique avenue to understand the cancer patient's perspective for using CAM or declining conventional cancer therapy (CCT).MethodsFive hundred GoFundMe campaigns from 2012 to 2019 detailing financial need for cancer treatment were randomly selected and reviewed for endorsement of CAM use, reasons for using CAM, and reasons for declining CCT. Descriptive statistics were used to compare patient and campaign characteristics between 250 CAM users and 250 non-CAM users.ResultsCompared to non-CAM users, CAM users were more likely to be female (70% vs. 54%, p < 0.01), to report more stage IV cancer (54% vs. 12%, p < 0.01), and to have a history of delayed, missed, or misdiagnosis (10% vs. 4%, p < 0.01). Reasons for using CAM include endorsing curative/therapeutic effects 212 (85%), pain/stress reduction 137 (55%), and dissatisfaction with current or past medical treatment options 105 (42%). 87 (35%) CAM users that declined CCT reported that they wanted to try to fight off cancer using CAM first 57 (61%), that CCT was too "toxic" to the body 39 (42%), and cancer was already too advanced, so that CCT would be futile or too aggressive 25 (27%).ConclusionCancer patients on GoFundMe using CAM highly value quality of life, comfort, and autonomy. Physicians should educate themselves on CAM to set realistic expectations and provide comprehensive counseling of the risks and benefits of CAM usage to patients who choose to use CAM to either augment or completely replace CCT

Validation of Antibodies for the Immunolocalization of Germ Cells in Alligator Gonads.

Previous studies of alligators from pesticide-contaminated lakes have shown decreased fertility in comparison to less polluted reference populations. Our research is focused on elucidating potential mechanisms of decreased reproductive success in alligators exposed to environmental contaminants during critical developmental periods. The localization and identification of germ cells during development can provide critical information in assessing future reproductive capability. Germ cells are the unique precursors of gametes, more commonly referred to as eggs and sperm. Specific cell types can be localized through immunohistochemistry (IHC), which involves the use of labeled antibodies to identify specific molecules present in the cells of interest. In this study we used standard IHC protocols to test two antibodies for use as potential biochemical markers of germ cells in hatchling alligator gonads. We ran parallel procedures on mouse gonads as a positive control for the validation of our techniques. Because the process of germ cell maturation is generally conserved among vertebrates, antibodies intended to identify germ cells in mice may bind to homologous antigens in alligator germ cells. Our results indicate that a polyclonal antibody to DDX4 binds to putative germ cells in mice and alligators. DDX4 is an RNA helicase expressed in germ cells and is thought to be expressed in all stages of germ cell development up to late meiosis. We also tested an antibody to SCP3, a gene involved in the stabilization of homologous chromosomes during prophase I. Our monoclonal antibody recognized germ cells in prophase I in mice, but it did not bind homologous antigens in the alligator. By identifying germ cells at various developmental stages, we can determine if contaminants affect development of alligator gonads in a way that would compromise future fertility. Further research will involve the validation of antibodies that identify germ cells in specific stages of meiosis