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RDP 2016-07: The Efficiency of Central Clearing: A Segmented Markets Approach
Equation (11)
M
(
y
m
,
t
)
=
{
1
if
y
m
,
t
>
0
0
if
y
m
,
t
≤
0
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamytamaabmaabaGaamyEamaaBaaaleaacaWGTbGaaiilaiaadshaaeqaaaGccaGLOaGaayzkaaGaeyypa0ZaaiqaaeaafaqaaeGacaaabaGaaGymaaqaaiaabMgacaqGMbGaaGPaVlaadMhadaWgaaWcbaGaamyBaiaacYcacaWG0baabeaakiabg6da+iaaicdaaeaacaaIWaaabaGaaeyAaiaabAgacaaMc8UaamyEamaaBaaaleaacaWGTbGaaiilaiaadshaaeqaaOGaeyizImQaaGimaaaaaiaawUhaaaaa@5251@