Block trade

A block trade is a permissible, noncompetitive negotiated transaction either at or exceeding an exchange determined minimum threshold quantity of shares, executed apart and away from the open outcry or electronic markets. Major broker-dealers provide "block trading" services—sometimes known as "upstairs trading desks"—to their institutional clients. In the United States and Canada a block trade is at least 10,000 shares of a stock or $100,000 of bonds but in practice larger. For instance, a hedge fund would like to sell it completely. If this were put into the market as a large sell order, the price would drop. By definition, the stake was large enough to affect demand causing a market impact. Instead, the fund may arrange for a block trade with another company through an investment bank, benefiting both parties: the selling fund gets a more attractive purchase price, while the purchasing company can negotiate a discount off the market rates. Unlike large public offerings, for which it takes months to prepare the necessary documentation, block trades are carried out at short notice and closed quickly.

For a variety of reasons, block trades can be more difficult than other trades and expose the broker-dealer to more risk. Most notably, because the broker-dealer is committing to a price for a large amount of securities, any adverse market movement can saddle the broker-dealer with a large loss if the position has not been sold; as such, engaging in block trading can tie up a broker-dealer's capital. Further, the fact that a large, well-informed money manager wants to sell a large position in a particular security may connote future price movements. Block trading is a useful measure for analysts in order to assess where institutional investors are pricing a stock, because in a merger or acquisition, a bid needs to "clear the market", it is most useful to see at what prices large blocks of stock are trading; these prices imply. Program trading Algorithmic trading Dark liquidity The NYSE is the Leader in Block Trading The information value of block trades in a limit order book market

Isis River (New South Wales)

Isis River, a perennial river of the Hunter River catchment, is located in the Upper Hunter region of New South Wales, Australia. Isis River rises on the southern slopes of the Great Dividing Range, below Crawney Mountain, northeast of Murrurundi and flows south, joined by two minor tributaries before reaching its confluence with the Pages River near Belltrees, northeast of Scone; the river descends 440 metres over its 70-kilometre course. Rivers of New South Wales List of rivers of New South Wales List of rivers of Australia "Hunter River catchment". Office of Environment and Heritage. Government of New South Wales

Bandung Institute of Technology

The Bandung Institute of Technology is a state, coeducational research university located in Bandung, Indonesia. Established in 1920, ITB is the oldest technology-oriented university in Indonesia. ITB was considered the top choice among Indonesia's high school students in 2006 and has been credited as one of the most prestigious universities in Indonesia, together with Gadjah Mada University and University of Indonesia. Sukarno, the first president of the Republic of Indonesia, earned his engineering degree in civil engineering from ITB. Furthermore, B. J. Habibie, the third president of Indonesia spent a year in the mechanical engineering department of ITB and is recognized as a graduate; the university cultivates professional and social activities by supporting its students' unions, the student government councils that exist in every department. Each students' union has its own distinctly designed jacket that, among other traditions, serves as part of its member identity. There are a number of student activity units/clubs supporting ITB student interests in rounding out their educational experience.

It is not uncommon that the students and alumni are identified by the clubs to which they belong at ITB, in addition to their class year and major. The university is a member of LAOTSE, an international network of leading universities in Europe and Asia exchanging students and senior scholars; as of early 2016, ITB had nine undergraduate study programs been internationally accredited from an independent U. S.-based accrediting institution, Accreditation Board for Engineering and Technology, where ITB and IPB or Bogor Agricultural University are the only public universities in Indonesia with this particular international accrediting institution. The ten study programs are Electrical Engineering, Chemical Engineering, Engineering Physics, Industrial Engineering, Engineering Management, Ocean Engineering, Petroleum Engineering, Civil Engineering, Environmental Engineering. ITB's march "Mars ITB" and hymn "Hymne ITB" were arranged by a former professor, Prof. Dr. Sudjoko Danoesoebrata. ITB traces its origin to de Technische Hoogeschool te Bandoeng, established by the Dutch colonial administration to meet the needs of technical resources in Dutch East Indies.

The school building was designed in 1918 by a Dutch architect named Henri Maclaine Pont, inspired by Indonesian vernacular architecture and blending it with modern elements. When the school opened its door for the first time on 3 July 1920, it only had one department namely'de Faculteit van Technische Wetenschap' and one academic major of'de afdeeling der Weg en Waterbouw'. During the Japanese occupation in 1942-1945, the institute was renamed Kōgyō Daigaku; when Indonesia declared its independence the campus was renamed "Sekolah Tinggi Teknik" in 1945. However a year the Netherlands returned to Indonesia and took directorship of the campus, it was used as "Nood-Universiteit van Nederlandsch Indië". In 1947 the campus housed the Faculteit van Technische Wetenschap and Faculteit van Exacte Wetenschap, under Universiteit van Indonesië. In 1950 after the Netherlands left Indonesia, the university became faculty of engineering and faculty of natural sciences, under University of Indonesia. On 2 March 1959, the 2 faculty of University of Indonesia in Bandung was declared a separate academic entity.

On Government Regulation No. 155/2000, ITB was declared a Legal Enterprise. Bandung Institute of Technology was founded for higher learning in natural sciences and fine arts; the ITB main campus, to the north of the downtown Bandung, its other campuses, cover a total area of 770,000 square metres. Students and faculty housing, administrative headquarters are not on the main campus, but are located within proximity. Facilities on the campus include a post office, student cafeteria and medical clinic. In addition to lecture rooms, laboratories and studios, ITB has an art gallery, sports facilities and a student activities' centre. For implementation of academic and research activities there are seven academic support facilities, the Central Library on campus, Sports Centre, Language Centre and the Bosscha Observatory in Lembang, 11 kilometres to the north of Bandung. Admission to ITB is conducted through nationwide entrance examination. ITB has been the most selective University in the nation. In 2000, the last Asiaweek survey available, ITB ranked first in Asia in student selectivity.

In the 2007 and 2008 national entrance examination, ITB has the highest average score as well as the highest passing grade in the nation. The aggregate admission rate in 2008 was around 4%, lower than the admission rate of Harvard in the same year Several national and global surveys have been conducted to assess the quality of universities. ITB is among the first choices of college applicants to enter higher education. In a 1991 survey, the top 200 high school students in the national entrance examination indicated ITB as their first choice. THE-QS, a UK-based University ranking survey, ranked ITB 80th in the field of Engineering and IT in the world, the only university in Indonesia within the top 100 in its field; the first rank in the field was MIT. ITB is considered to have the highest selectivi