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Basically, when you change the aperture size one stop, you have to shift the shutter speed one stop in the opposite direction to maintain a consistent exposure… and this change in aperture alters the depth of field (DOF) accordingly.

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As soon as an object (person, thing) falls out of this range, it begins to lose focus at an accelerating degree the farther out of the zone it falls; e.g., closer to the lens or deeper into the background. With any DOF zone, there is a Point of Optimum focus in which the object is most sharp.

OTFs are a type of European multilateral trading venue where contracts for the exchange of non-equities such as bonds, structured finance products, emission allowances or derivatives are formed.

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Shallow depth of field photography

Multilateral trading facilities are also required to provide pre- and post-trade transparency. The result of this is that orders and quotes are visible on a data feed before trades are executed – enabling users to select the best available prices for their trade volumes – while executed orders are published as close to real time as technically possible. Pre- and post-trade information is publicly available.

It’s important to understand this concept and how it affects exposure because it works in tandem with the shutter speed (we’ll discuss this in another section) to establish a given exposure value.

As such, there is a level playing field between RMs and MTFs – both are neutral venues that provide a high level of transparency and supervision.

Brokers, market makers, banks, hedge funds and asset managers can connect to MTFs directly – becoming ‘members’ – while retail traders can only access the markets on offer via a provider of their choosing. MTFs are described as ‘multilateral’ because they have multiple members and users that are capable of interacting with each other to set prices.

The f-stops work as inverse values, such that a small f/number (say f/2.8) corresponds to a larger or wider aperture size, which results in a shallow depth of field; conversely a large f/number (say f/16) results in a smaller or narrower aperture size and therefore a deeper depth of field.

Depth of field definition microscope

They operate under the European Union’s (EU’s) Markets in Financial Instruments Directive II (MiFID II), which stipulates that financial instruments traded via an MTF must be exchanged on a ‘non-discretionary basis’. This means that contracts between buyers and sellers must be formed according to a set of transparent rules that do not discriminate between members or their clients.

Incidentally, to help you with this, every lens has a manual with a DOF chart for each f/stop and the major focusing distances. DOF is just a matter of physics, and it’s important to grasp this concept.

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The aperture range identifies the widest to smallest range of lens openings, i.e., f/1.4 (on a super-fast lens) to f/32, with incremental “stops” in between (f/2, f/2.8, f/4, f/5.6, f/8, f/11, f/16, and f/22).

The last element affecting depth of field is the distance of the subject from the lens – you can adjust the DOF by changing that distance.

The size of the aperture’s opening is measured in f-stops – one of two sets of numbers on the lens barrel (the other being the focusing distance).

Other than lighting, composition and focus (which includes depth of field) are the main elements that you can exercise complete command over.Focus enables you to isolate a subject and specifically draw the viewer’s eye to exactly where you want it.The first thing to understand about focus is depth of field.1Depth of FieldThe depth of field (DOF) is the front-to-back zone of a photograph in which the image is razor sharp.As soon as an object (person, thing) falls out of this range, it begins to lose focus at an accelerating degree the farther out of the zone it falls; e.g., closer to the lens or deeper into the background. With any DOF zone, there is a Point of Optimum focus in which the object is most sharp.There are two ways to describe the qualities of depth of field – shallow DOF or deep DOF. Shallow is when the included focus range is very narrow, a few inches to several feet. Deep is when the included range is a couple of yards to infinity. In both cases DOF is measured in front of the focus point and behind the focus point.DOF is determined by three factors – aperture size, distance from the lens, and the focal length of the lens.Let’s look at how each one works.2ApertureThe aperture is the opening at the rear of the lens that determines how much light travels through the lens and falls on the image sensor.The size of the aperture’s opening is measured in f-stops – one of two sets of numbers on the lens barrel (the other being the focusing distance).The f-stops work as inverse values, such that a small f/number (say f/2.8) corresponds to a larger or wider aperture size, which results in a shallow depth of field; conversely a large f/number (say f/16) results in a smaller or narrower aperture size and therefore a deeper depth of field.3Small vs Large ApertureManipulating the aperture is the easiest and most often utilized means to adjust Depth of Field.To achieve a deep, rich and expansive DOF, you’ll want to set the f-stop to around f/11 or higher. You may have seen this principle demonstrated when you look at photos taken outside during the brightest time of the day. In such a case, the camera is typically set at f/16 or higher (that Sunny 16 Rule) and the Depth of Field is quite deep – perhaps several yards in front of and nearly to infinity beyond the exact focus point.Let’s take a look at these two photos as examples. The left side of the photo has an expansive DOF, most likely shot around noon (notice the short, but strong shadows), with an f/22 aperture. The right side of the photo has an extremely shallow DOF; probably an f/2.8 aperture setting.However, to achieve an identical proper exposure, the shutter speed is probably closer to 1/1000th to compensate for the increased amount of light entering the lens at f/2.8.4Aperture RangeThe aperture range identifies the widest to smallest range of lens openings, i.e., f/1.4 (on a super-fast lens) to f/32, with incremental “stops” in between (f/2, f/2.8, f/4, f/5.6, f/8, f/11, f/16, and f/22).Each f-number is represents one “stop” of light, a stop is a mathematical equation (which is the focal length of the lens divided by the diameter of the aperture opening) that determines how much light that enters the lens regardless of the length of the lens. Such that an f/4 on a 50mm has smaller opening than an f/4 on a 200mm, but an equivalent amount of light travels through both lenses to reach the image sensor thus providing the same exposure.Each movement up the range (say f/2 to f.2.8) reduces the amount of light by one-half, and each movement down the range (say f/11 to f/8) doubles the amount of light passing through the lens.It’s important to understand this concept and how it affects exposure because it works in tandem with the shutter speed (we’ll discuss this in another section) to establish a given exposure value.Basically, when you change the aperture size one stop, you have to shift the shutter speed one stop in the opposite direction to maintain a consistent exposure… and this change in aperture alters the depth of field (DOF) accordingly.5Distance from the LensThe last element affecting depth of field is the distance of the subject from the lens – you can adjust the DOF by changing that distance.For example, the closer an object is to the lens (and the focus is set on that object) the shallower the DOF. Conversely, the reverse is true – the farther away an object is and focused on, the deeper the DOF. Changing the distance to subject is the least practical way to manipulate the depth of field, and by changing the distance from a subject to the lens, you immediately change your image’s composition. To maintain the compositional integrity of the shot, but still have the change in DOF from a distance, you can change the focal length (either by changing lenses or zooming in).Why does changing the focal length negate the effects on DOF? This is because the visual properties of a given lens either provide either greater DOF (shorter lenses) or shallower DOF (longer lenses). The physical properties of a lens at a given focal length also affect the depth of field. A shorter focal length lens (say 27mm) focused at 5 meters, set at f/4 has a deeper DOF (perhaps from 3 meters in front and 20 meters behind) than a longer focal length (say 300mm), also set at f/4 focused at 5 meters. The 300mm lens has a remarkably shallow depth of field.Incidentally, to help you with this, every lens has a manual with a DOF chart for each f/stop and the major focusing distances. DOF is just a matter of physics, and it’s important to grasp this concept.CConclusionManipulation of depth of field is a good way to modify the characteristics of your photo, and manipulating the aperture is the ideal way to do this because it has little or no effect on composition.You simply need to change the shutter speed (or change the light sensitivity – ISO) to compensate for the changes in the exposure from the adjustments to the f-number. Changes in distance and focal length also affect DOF, but these changes have trade-offs in terms of composition.Therefore, changes to aperture are the best way to manipulate DOF without affecting a photo’s composition.

You simply need to change the shutter speed (or change the light sensitivity – ISO) to compensate for the changes in the exposure from the adjustments to the f-number. Changes in distance and focal length also affect DOF, but these changes have trade-offs in terms of composition.

Depth of field photography examples

Let’s take a look at these two photos as examples. The left side of the photo has an expansive DOF, most likely shot around noon (notice the short, but strong shadows), with an f/22 aperture. The right side of the photo has an extremely shallow DOF; probably an f/2.8 aperture setting.

The main difference between OTFs and MTFs is that the former can only offer non-equities, whereas MTFs can offer equities and non-equities. An OTF can also only be operated by an investment firm, while an MTF can be run by an investment firm or market operator.Additionally, orders executed on an OTF are carried out on a discretionary basis, unlike MTFs where buyers and sellers must be matched according to non-discretionary rules. OTFs are also allowed to engage in matched principal trading on instruments that aren’t subject to the clearing obligation set out in the European Market Infrastructure Regulation (EMIR), provided they have client consent to do so.Finally, OTFs are authorised to deal bonds against proprietary capital and on their own account, with this regulation reflecting the fact that the sovereign debt markets are often illiquid.

What is an MTF?Discover everything you need to know about multilateral trading facilities (MTFs) including what they are and how they work, as well as the differences between MTFs, regulated markets (RMs) and organised trading facilities (OTFs).

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Dof explainedcamera

Many of the financial instruments available on MTFs can be listed elsewhere – for example, on traditional exchanges. It is also worth noting that securities can be made available for trading across multiple MTFs, which has led to greater fragmentation of the financial markets in Europe and increased competition.

Depth of field examples

There are two ways to describe the qualities of depth of field – shallow DOF or deep DOF. Shallow is when the included focus range is very narrow, a few inches to several feet. Deep is when the included range is a couple of yards to infinity. In both cases DOF is measured in front of the focus point and behind the focus point.

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For example, the closer an object is to the lens (and the focus is set on that object) the shallower the DOF. Conversely, the reverse is true – the farther away an object is and focused on, the deeper the DOF. Changing the distance to subject is the least practical way to manipulate the depth of field, and by changing the distance from a subject to the lens, you immediately change your image’s composition. To maintain the compositional integrity of the shot, but still have the change in DOF from a distance, you can change the focal length (either by changing lenses or zooming in).

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The main difference between a regulated market and an MTF is that an RM can only be run by a ‘market operator’, which must achieve this status by subjecting its management team and structure to the scrutiny of the EU member state in which it is based. MTFs, in contrast, can be set up by either a market operator or an investment firm.

Dof explainedphotography

To achieve a deep, rich and expansive DOF, you’ll want to set the f-stop to around f/11 or higher. You may have seen this principle demonstrated when you look at photos taken outside during the brightest time of the day. In such a case, the camera is typically set at f/16 or higher (that Sunny 16 Rule) and the Depth of Field is quite deep – perhaps several yards in front of and nearly to infinity beyond the exact focus point.

As an example, these rules could be based on the time and price at which orders and quotes are entered into the system. MTFs are not permitted to execute client orders against their own capital or engage in matched principal trading – they are simply a venue where buyers and sellers are paired.

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Manipulation of depth of field is a good way to modify the characteristics of your photo, and manipulating the aperture is the ideal way to do this because it has little or no effect on composition.

Each f-number is represents one “stop” of light, a stop is a mathematical equation (which is the focal length of the lens divided by the diameter of the aperture opening) that determines how much light that enters the lens regardless of the length of the lens. Such that an f/4 on a 50mm has smaller opening than an f/4 on a 200mm, but an equivalent amount of light travels through both lenses to reach the image sensor thus providing the same exposure.

Shallow depth of field

A regulated market (RM) is a European multilateral trading venue where contracts for the exchange of financial instruments are formed. They are very similar to multilateral trading facilities because – under MiFID II rules – both can offer equities and non-equities, must execute orders on a non-discretionary basis, and are prohibited from using proprietary capital or engaging in matched principal trading.

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However, to achieve an identical proper exposure, the shutter speed is probably closer to 1/1000th to compensate for the increased amount of light entering the lens at f/2.8.

MTFs generate revenue by charging the members that use the venue. These financial institutions, in turn, generate revenue predominately from the spread and commissions charged on trades. This structure ensures that there is no conflict of interest between the end trader and the MTF.

In this section we’re going to discuss several crucial elements for exercising greater creative control over your final photographic image.Other than lighting, composition and focus (which includes depth of field) are the main elements that you can exercise complete command over.Focus enables you to isolate a subject and specifically draw the viewer’s eye to exactly where you want it.The first thing to understand about focus is depth of field.1Depth of FieldThe depth of field (DOF) is the front-to-back zone of a photograph in which the image is razor sharp.As soon as an object (person, thing) falls out of this range, it begins to lose focus at an accelerating degree the farther out of the zone it falls; e.g., closer to the lens or deeper into the background. With any DOF zone, there is a Point of Optimum focus in which the object is most sharp.There are two ways to describe the qualities of depth of field – shallow DOF or deep DOF. Shallow is when the included focus range is very narrow, a few inches to several feet. Deep is when the included range is a couple of yards to infinity. In both cases DOF is measured in front of the focus point and behind the focus point.DOF is determined by three factors – aperture size, distance from the lens, and the focal length of the lens.Let’s look at how each one works.2ApertureThe aperture is the opening at the rear of the lens that determines how much light travels through the lens and falls on the image sensor.The size of the aperture’s opening is measured in f-stops – one of two sets of numbers on the lens barrel (the other being the focusing distance).The f-stops work as inverse values, such that a small f/number (say f/2.8) corresponds to a larger or wider aperture size, which results in a shallow depth of field; conversely a large f/number (say f/16) results in a smaller or narrower aperture size and therefore a deeper depth of field.3Small vs Large ApertureManipulating the aperture is the easiest and most often utilized means to adjust Depth of Field.To achieve a deep, rich and expansive DOF, you’ll want to set the f-stop to around f/11 or higher. You may have seen this principle demonstrated when you look at photos taken outside during the brightest time of the day. In such a case, the camera is typically set at f/16 or higher (that Sunny 16 Rule) and the Depth of Field is quite deep – perhaps several yards in front of and nearly to infinity beyond the exact focus point.Let’s take a look at these two photos as examples. The left side of the photo has an expansive DOF, most likely shot around noon (notice the short, but strong shadows), with an f/22 aperture. The right side of the photo has an extremely shallow DOF; probably an f/2.8 aperture setting.However, to achieve an identical proper exposure, the shutter speed is probably closer to 1/1000th to compensate for the increased amount of light entering the lens at f/2.8.4Aperture RangeThe aperture range identifies the widest to smallest range of lens openings, i.e., f/1.4 (on a super-fast lens) to f/32, with incremental “stops” in between (f/2, f/2.8, f/4, f/5.6, f/8, f/11, f/16, and f/22).Each f-number is represents one “stop” of light, a stop is a mathematical equation (which is the focal length of the lens divided by the diameter of the aperture opening) that determines how much light that enters the lens regardless of the length of the lens. Such that an f/4 on a 50mm has smaller opening than an f/4 on a 200mm, but an equivalent amount of light travels through both lenses to reach the image sensor thus providing the same exposure.Each movement up the range (say f/2 to f.2.8) reduces the amount of light by one-half, and each movement down the range (say f/11 to f/8) doubles the amount of light passing through the lens.It’s important to understand this concept and how it affects exposure because it works in tandem with the shutter speed (we’ll discuss this in another section) to establish a given exposure value.Basically, when you change the aperture size one stop, you have to shift the shutter speed one stop in the opposite direction to maintain a consistent exposure… and this change in aperture alters the depth of field (DOF) accordingly.5Distance from the LensThe last element affecting depth of field is the distance of the subject from the lens – you can adjust the DOF by changing that distance.For example, the closer an object is to the lens (and the focus is set on that object) the shallower the DOF. Conversely, the reverse is true – the farther away an object is and focused on, the deeper the DOF. Changing the distance to subject is the least practical way to manipulate the depth of field, and by changing the distance from a subject to the lens, you immediately change your image’s composition. To maintain the compositional integrity of the shot, but still have the change in DOF from a distance, you can change the focal length (either by changing lenses or zooming in).Why does changing the focal length negate the effects on DOF? This is because the visual properties of a given lens either provide either greater DOF (shorter lenses) or shallower DOF (longer lenses). The physical properties of a lens at a given focal length also affect the depth of field. A shorter focal length lens (say 27mm) focused at 5 meters, set at f/4 has a deeper DOF (perhaps from 3 meters in front and 20 meters behind) than a longer focal length (say 300mm), also set at f/4 focused at 5 meters. The 300mm lens has a remarkably shallow depth of field.Incidentally, to help you with this, every lens has a manual with a DOF chart for each f/stop and the major focusing distances. DOF is just a matter of physics, and it’s important to grasp this concept.CConclusionManipulation of depth of field is a good way to modify the characteristics of your photo, and manipulating the aperture is the ideal way to do this because it has little or no effect on composition.You simply need to change the shutter speed (or change the light sensitivity – ISO) to compensate for the changes in the exposure from the adjustments to the f-number. Changes in distance and focal length also affect DOF, but these changes have trade-offs in terms of composition.Therefore, changes to aperture are the best way to manipulate DOF without affecting a photo’s composition.

Each movement up the range (say f/2 to f.2.8) reduces the amount of light by one-half, and each movement down the range (say f/11 to f/8) doubles the amount of light passing through the lens.

Focus enables you to isolate a subject and specifically draw the viewer’s eye to exactly where you want it.The first thing to understand about focus is depth of field.1Depth of FieldThe depth of field (DOF) is the front-to-back zone of a photograph in which the image is razor sharp.As soon as an object (person, thing) falls out of this range, it begins to lose focus at an accelerating degree the farther out of the zone it falls; e.g., closer to the lens or deeper into the background. With any DOF zone, there is a Point of Optimum focus in which the object is most sharp.There are two ways to describe the qualities of depth of field – shallow DOF or deep DOF. Shallow is when the included focus range is very narrow, a few inches to several feet. Deep is when the included range is a couple of yards to infinity. In both cases DOF is measured in front of the focus point and behind the focus point.DOF is determined by three factors – aperture size, distance from the lens, and the focal length of the lens.Let’s look at how each one works.2ApertureThe aperture is the opening at the rear of the lens that determines how much light travels through the lens and falls on the image sensor.The size of the aperture’s opening is measured in f-stops – one of two sets of numbers on the lens barrel (the other being the focusing distance).The f-stops work as inverse values, such that a small f/number (say f/2.8) corresponds to a larger or wider aperture size, which results in a shallow depth of field; conversely a large f/number (say f/16) results in a smaller or narrower aperture size and therefore a deeper depth of field.3Small vs Large ApertureManipulating the aperture is the easiest and most often utilized means to adjust Depth of Field.To achieve a deep, rich and expansive DOF, you’ll want to set the f-stop to around f/11 or higher. You may have seen this principle demonstrated when you look at photos taken outside during the brightest time of the day. In such a case, the camera is typically set at f/16 or higher (that Sunny 16 Rule) and the Depth of Field is quite deep – perhaps several yards in front of and nearly to infinity beyond the exact focus point.Let’s take a look at these two photos as examples. The left side of the photo has an expansive DOF, most likely shot around noon (notice the short, but strong shadows), with an f/22 aperture. The right side of the photo has an extremely shallow DOF; probably an f/2.8 aperture setting.However, to achieve an identical proper exposure, the shutter speed is probably closer to 1/1000th to compensate for the increased amount of light entering the lens at f/2.8.4Aperture RangeThe aperture range identifies the widest to smallest range of lens openings, i.e., f/1.4 (on a super-fast lens) to f/32, with incremental “stops” in between (f/2, f/2.8, f/4, f/5.6, f/8, f/11, f/16, and f/22).Each f-number is represents one “stop” of light, a stop is a mathematical equation (which is the focal length of the lens divided by the diameter of the aperture opening) that determines how much light that enters the lens regardless of the length of the lens. Such that an f/4 on a 50mm has smaller opening than an f/4 on a 200mm, but an equivalent amount of light travels through both lenses to reach the image sensor thus providing the same exposure.Each movement up the range (say f/2 to f.2.8) reduces the amount of light by one-half, and each movement down the range (say f/11 to f/8) doubles the amount of light passing through the lens.It’s important to understand this concept and how it affects exposure because it works in tandem with the shutter speed (we’ll discuss this in another section) to establish a given exposure value.Basically, when you change the aperture size one stop, you have to shift the shutter speed one stop in the opposite direction to maintain a consistent exposure… and this change in aperture alters the depth of field (DOF) accordingly.5Distance from the LensThe last element affecting depth of field is the distance of the subject from the lens – you can adjust the DOF by changing that distance.For example, the closer an object is to the lens (and the focus is set on that object) the shallower the DOF. Conversely, the reverse is true – the farther away an object is and focused on, the deeper the DOF. Changing the distance to subject is the least practical way to manipulate the depth of field, and by changing the distance from a subject to the lens, you immediately change your image’s composition. To maintain the compositional integrity of the shot, but still have the change in DOF from a distance, you can change the focal length (either by changing lenses or zooming in).Why does changing the focal length negate the effects on DOF? This is because the visual properties of a given lens either provide either greater DOF (shorter lenses) or shallower DOF (longer lenses). The physical properties of a lens at a given focal length also affect the depth of field. A shorter focal length lens (say 27mm) focused at 5 meters, set at f/4 has a deeper DOF (perhaps from 3 meters in front and 20 meters behind) than a longer focal length (say 300mm), also set at f/4 focused at 5 meters. The 300mm lens has a remarkably shallow depth of field.Incidentally, to help you with this, every lens has a manual with a DOF chart for each f/stop and the major focusing distances. DOF is just a matter of physics, and it’s important to grasp this concept.CConclusionManipulation of depth of field is a good way to modify the characteristics of your photo, and manipulating the aperture is the ideal way to do this because it has little or no effect on composition.You simply need to change the shutter speed (or change the light sensitivity – ISO) to compensate for the changes in the exposure from the adjustments to the f-number. Changes in distance and focal length also affect DOF, but these changes have trade-offs in terms of composition.Therefore, changes to aperture are the best way to manipulate DOF without affecting a photo’s composition.

Dof explainedfor dummies

The aperture is the opening at the rear of the lens that determines how much light travels through the lens and falls on the image sensor.

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Why does changing the focal length negate the effects on DOF? This is because the visual properties of a given lens either provide either greater DOF (shorter lenses) or shallower DOF (longer lenses). The physical properties of a lens at a given focal length also affect the depth of field. A shorter focal length lens (say 27mm) focused at 5 meters, set at f/4 has a deeper DOF (perhaps from 3 meters in front and 20 meters behind) than a longer focal length (say 300mm), also set at f/4 focused at 5 meters. The 300mm lens has a remarkably shallow depth of field.