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1 PAL
1) Компьютерная техника: Platform Abstraction Layer, Playlist Automation Language, Pooling Allying And Linking, Privileged Architecture Library, Process Assets Library2) Военный термин: Presence And Availability List, Protect All Life, parts authorization list, penetration aids launcher, permissive action link, permissive arming link, personnel accounting level, personnel augmentation list, portable ambush light, prescribed action link, price and availability list, prisoner-at-large, problem action log, pulsed argon laser, ПУЯБ, предохранительное устройство ядерного боеприпаса3) Техника: personnel airlock, ПАЛ (система цветного телевидения, ФРГ), система ПАЛ4) Шутливое выражение: Personal Android Lackey5) Метеорология: Present Atmospheric Level6) Железнодорожный термин: Paducah and Louisville Railroad7) Юридический термин: Police At Last, Protect A Life, patent associated literature8) Бухгалтерия: Passive Activity Loss, Programmatic Adjustment Loan9) Финансы: provisional allotment letter10) Страхование: Particular average loss11) Ветеринария: People And Animals Learning12) Телекоммуникации: Phase Alternate Line (television)13) Сокращение: Pahlavi, Panoramic Annular Lens (Sniper detection/location device), Paradox Application Language, Parcel Air Lift mail service (military space available mail), Phase Alternation Line, Phase Alternation Line-rate, Portable Advanced Laser, Portable, Accurate, Lightweight, Postal Advertising Label (New Zealand Post creates for private concerns, 2004), Postal Answer Line, Psycho-Acoustical Laboratory, Police Athletic League, Paid for Added Luxury, Pale and Lifeless, Peace At Last, Price/Availability List14) Физиология: Power- Assisted Liposuction15) Электроника: Phase Alternate Line16) Вычислительная техника: Programming Application Language, program assembly language, programmable array logic, programmed application library, Paradox Application Language (Borland, DB), Privileged Architecture Library (DEC, Alpha), библиотека прикладных программ, язык программирования приложений Paradox17) Нефть: pipe analysis log18) Транспорт: Philippines Airlines, Pitch, Angle, And Level, Plane Always Late19) Деловая лексика: Productivity, Accountability, And Learning, Professionalism Advocacy And Leadership, Purpose Agenda And Limit20) Бытовая техника: система цветного телевидения PAL21) Глоссарий компании Сахалин Энерджи: pressure alarm low22) Образование: Parents And Literature, Participant Active Learning, Partners At Learning, Partnership Approach To Literacy, Peer Assistance And Leadership, Peer Assistance Leadership, People Animals Learning, Performance Assessment Laboratory, Physically Active Lifestyle, Play And Learn, Positive And Loving, Program For Alternative Learners23) Сетевые технологии: phase alternating line24) Авиационная медицина: psychoacoustical laboratory25) Безопасность: Personal Access List26) Расширение файла: Color palette, Programmed Array Logic, Programming Assembly Language, Paradox Applications Language (Borland), Palette file (Microsoft Draw, Win. Paintbrush)27) Майкрософт: стандарт PAL28) Общественная организация: Physicians Against Landmines29) Должность: Peer Assistance Leader, Personal Assistant For Leisure30) Чат: Personal Assistance Link31) Программное обеспечение: Palmtop Application Library -
2 Pal
1) Компьютерная техника: Platform Abstraction Layer, Playlist Automation Language, Pooling Allying And Linking, Privileged Architecture Library, Process Assets Library2) Военный термин: Presence And Availability List, Protect All Life, parts authorization list, penetration aids launcher, permissive action link, permissive arming link, personnel accounting level, personnel augmentation list, portable ambush light, prescribed action link, price and availability list, prisoner-at-large, problem action log, pulsed argon laser, ПУЯБ, предохранительное устройство ядерного боеприпаса3) Техника: personnel airlock, ПАЛ (система цветного телевидения, ФРГ), система ПАЛ4) Шутливое выражение: Personal Android Lackey5) Метеорология: Present Atmospheric Level6) Железнодорожный термин: Paducah and Louisville Railroad7) Юридический термин: Police At Last, Protect A Life, patent associated literature8) Бухгалтерия: Passive Activity Loss, Programmatic Adjustment Loan9) Финансы: provisional allotment letter10) Страхование: Particular average loss11) Ветеринария: People And Animals Learning12) Телекоммуникации: Phase Alternate Line (television)13) Сокращение: Pahlavi, Panoramic Annular Lens (Sniper detection/location device), Paradox Application Language, Parcel Air Lift mail service (military space available mail), Phase Alternation Line, Phase Alternation Line-rate, Portable Advanced Laser, Portable, Accurate, Lightweight, Postal Advertising Label (New Zealand Post creates for private concerns, 2004), Postal Answer Line, Psycho-Acoustical Laboratory, Police Athletic League, Paid for Added Luxury, Pale and Lifeless, Peace At Last, Price/Availability List14) Физиология: Power- Assisted Liposuction15) Электроника: Phase Alternate Line16) Вычислительная техника: Programming Application Language, program assembly language, programmable array logic, programmed application library, Paradox Application Language (Borland, DB), Privileged Architecture Library (DEC, Alpha), библиотека прикладных программ, язык программирования приложений Paradox17) Нефть: pipe analysis log18) Транспорт: Philippines Airlines, Pitch, Angle, And Level, Plane Always Late19) Деловая лексика: Productivity, Accountability, And Learning, Professionalism Advocacy And Leadership, Purpose Agenda And Limit20) Бытовая техника: система цветного телевидения PAL21) Глоссарий компании Сахалин Энерджи: pressure alarm low22) Образование: Parents And Literature, Participant Active Learning, Partners At Learning, Partnership Approach To Literacy, Peer Assistance And Leadership, Peer Assistance Leadership, People Animals Learning, Performance Assessment Laboratory, Physically Active Lifestyle, Play And Learn, Positive And Loving, Program For Alternative Learners23) Сетевые технологии: phase alternating line24) Авиационная медицина: psychoacoustical laboratory25) Безопасность: Personal Access List26) Расширение файла: Color palette, Programmed Array Logic, Programming Assembly Language, Paradox Applications Language (Borland), Palette file (Microsoft Draw, Win. Paintbrush)27) Майкрософт: стандарт PAL28) Общественная организация: Physicians Against Landmines29) Должность: Peer Assistance Leader, Personal Assistant For Leisure30) Чат: Personal Assistance Link31) Программное обеспечение: Palmtop Application Library -
3 pal
1) Компьютерная техника: Platform Abstraction Layer, Playlist Automation Language, Pooling Allying And Linking, Privileged Architecture Library, Process Assets Library2) Военный термин: Presence And Availability List, Protect All Life, parts authorization list, penetration aids launcher, permissive action link, permissive arming link, personnel accounting level, personnel augmentation list, portable ambush light, prescribed action link, price and availability list, prisoner-at-large, problem action log, pulsed argon laser, ПУЯБ, предохранительное устройство ядерного боеприпаса3) Техника: personnel airlock, ПАЛ (система цветного телевидения, ФРГ), система ПАЛ4) Шутливое выражение: Personal Android Lackey5) Метеорология: Present Atmospheric Level6) Железнодорожный термин: Paducah and Louisville Railroad7) Юридический термин: Police At Last, Protect A Life, patent associated literature8) Бухгалтерия: Passive Activity Loss, Programmatic Adjustment Loan9) Финансы: provisional allotment letter10) Страхование: Particular average loss11) Ветеринария: People And Animals Learning12) Телекоммуникации: Phase Alternate Line (television)13) Сокращение: Pahlavi, Panoramic Annular Lens (Sniper detection/location device), Paradox Application Language, Parcel Air Lift mail service (military space available mail), Phase Alternation Line, Phase Alternation Line-rate, Portable Advanced Laser, Portable, Accurate, Lightweight, Postal Advertising Label (New Zealand Post creates for private concerns, 2004), Postal Answer Line, Psycho-Acoustical Laboratory, Police Athletic League, Paid for Added Luxury, Pale and Lifeless, Peace At Last, Price/Availability List14) Физиология: Power- Assisted Liposuction15) Электроника: Phase Alternate Line16) Вычислительная техника: Programming Application Language, program assembly language, programmable array logic, programmed application library, Paradox Application Language (Borland, DB), Privileged Architecture Library (DEC, Alpha), библиотека прикладных программ, язык программирования приложений Paradox17) Нефть: pipe analysis log18) Транспорт: Philippines Airlines, Pitch, Angle, And Level, Plane Always Late19) Деловая лексика: Productivity, Accountability, And Learning, Professionalism Advocacy And Leadership, Purpose Agenda And Limit20) Бытовая техника: система цветного телевидения PAL21) Глоссарий компании Сахалин Энерджи: pressure alarm low22) Образование: Parents And Literature, Participant Active Learning, Partners At Learning, Partnership Approach To Literacy, Peer Assistance And Leadership, Peer Assistance Leadership, People Animals Learning, Performance Assessment Laboratory, Physically Active Lifestyle, Play And Learn, Positive And Loving, Program For Alternative Learners23) Сетевые технологии: phase alternating line24) Авиационная медицина: psychoacoustical laboratory25) Безопасность: Personal Access List26) Расширение файла: Color palette, Programmed Array Logic, Programming Assembly Language, Paradox Applications Language (Borland), Palette file (Microsoft Draw, Win. Paintbrush)27) Майкрософт: стандарт PAL28) Общественная организация: Physicians Against Landmines29) Должность: Peer Assistance Leader, Personal Assistant For Leisure30) Чат: Personal Assistance Link31) Программное обеспечение: Palmtop Application Library -
4 soft dollaring
See:Another reason managers are interested in controlling client commissions deserves special attention. "Soft dollaring" has got to be one of the most misunderstood and controversial practices in the money management business. The very term "soft dollars" suggests something shady and conjures up images of money exchanging hands in dark alleyways. Among laymen, soft dollars may be confused with "soft money" political contributions. There is a thin connection between "soft dollars" and "soft money." Since brokerage firms are not subject to the same rules pertaining to political contributions as municipal underwriting firms, large "soft money" contributions from owners of brokerage firms do find their way into politicians' coffers more easily than contributions from underwriters. However, it is important to not confuse the two terms.So what is "soft dollaring?" Soft dollaring is the practice whereby money managers use client brokerage commissions to purchase investment research. When a manager pays for products or services with his own money, directly from the research provider, this is referred to as "hard dollars." Payment with client commissions, financed through a brokerage firm, is referred to as "soft dollars." Through soft dollar arrangements money managers are permitted to shift an expense related to the management of assets they would otherwise have to bear, onto their clients. The amount of this research expense the money management industry transfers onto its clients is in the billions annually. As a result, any analysis of the economics of the money management industry should include the effects of soft dollaring; however, we are unaware of any that has. In the institutional marketplace, strange as it may seem, it is possible for a money manager to profit more from soft dollars than from the negotiated asset management fee he receives.The general rule under the federal and state securities laws is that a fiduciary, the money manager, cannot use client assets for his own benefit or the benefit of other clients. To simplify matters greatly, soft dollaring is a legally prescribed exception to this rule. Congress, the SEC and other regulators have agreed that as long as the research purchased assists the manager in making investment decisions, the clients benefit and its legally acceptable. A tremendous amount of strained analysis has gone into the precise policies and procedures that managers must follow in purchasing research with client commission dollars. Over the years a distinction has been made between "proprietary" research or in-house research distributed to brokerage customers without a price tag attached and "independent third-party" research or research written by a third party and sold to managers at a stated price. Third party research has been most frequently criticized because its cost is separately stated and the benefit to managers most obvious. In this latter case, a breach of fiduciary duty seems most glaring. However, it is well known that proprietary research, offered for "free, " is produced to stimulate sales of dealer inventory. So presumably this research lacks credibility and is less beneficial to clients. There have been distinctions drawn between products and services, such as computers, which are "mixed-use, " i.e., which may serve dual purposes, providing both research and administrative uses. An adviser must make a reasonable allocation of the cost of the product according to its uses, the SEC has said. Some portion must be paid for with "hard" dollars and the other with "soft." There are several articles in our Library of Articles that describe soft dollar practices, rule changes and our proposal to Chairman Levitt to reform the soft dollar business.The issue that soft dollaring raises is: when is it acceptable for a manager to benefit from his client's commissions? For purposes of this article we would like to introduce a new and more useful perspective for pensions in their analysis of soft dollars or any other brokerage issue. That is, all brokerage commissions controlled by managers, benefit managers in some way. Brokerage decision-making by managers rarely, if ever, is simply based upon what firm can execute the trade at the best price. Brokerage is a commodity. Almost all brokerage firms offer reasonably competent, "best execution" services. If they didn't, they'd get sued and soon be out of business. Most savvy brokerage marketers don't even try to differentiate their firms with long-winded explanations about best-execution capabilities. Best execution is a given and impossible to prove. If you want to understand how your money manager allocates brokerage, study his business as a whole, including his marketing and affiliates-not just the investment process.The new English-Russian dictionary of financial markets > soft dollaring
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