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RECENTLY, PASSIVE ETFS AND INDEX FUNDS HAVE BECOME POPULAR AMONG INDIVIDUAL INVESTORS. IN OUR STUDY, WE INVESTIGATE WHETHER INDIVIDUAL INVESTORS BENEFIT FROM USING THEM. WITH DATA FROM ONE OF THE LARGEST BROKERAGES IN GERMANY, WE FIND THAT INDIVIDUAL INVESTORS WORSEN THEIR PORTFOLIO PERFORMANCE AFTER USING THESE PRODUCTS IN COMPARISON TO NON-USERS. SINCE THESE SECURITIES MAKE MARKET TIMING EASIER, FURTHER ANALYSIS REVEALS THAT THE DECREASE IN USERS’ PORTFOLIO PERFORMANCE IS PRIMARILY DUE TO BAD MARKET TIMING.
THE FINANCIAL TRANSACTION TAX (FTT) IMPLEMENTATION IN FRANCE IN MID 2012 IS CONSIDERED A LANDMARK DEVELOPMENT WITHIN SECURITIES MARKETS REGULATION. HOWEVER, UNTIL TODAY, THE CONTROVERSY ABOUT POSSIBLE DRAWBACKS AND PRACTICAL APPLICABILITY HAS NOT REACHED A CONCLUSION AND CONSEQUENCES FOR MARKET QUALITY ARE YET TO BE THOROUGHLY ASSESSED. IN THIS LIGHT, A RIGOROUS EVALUATION OF THE FTT’S EFFECT ON MARKET QUALITY IS HIGHLY DESIRABLE.
CLOUDS ARE INCREASINGLY BEING USED FOR THE DELIVERY OF COMPLEX SOFTWARE SERVICES WITH STRINGENT QUALITY OF SERVICE (QOS) DEMANDS. IN ORDER TO ACHIEVE COST-EFFICIENT PROVISION THROUGH THE UNDERLYING INFRASTRUCTURE, A SUITABLE SELECTION OF CLOUD DATA CENTERS IS REQUIRED. THIS REPORT PRESENTS A CORRESPONDING OPTIMIZATION APPROACH, WHICH IS SUITABLE FOR BOTH PRIVATE AND PUBLIC CLOUD SETTINGS.