202077 — A Ronchi grating is a kind of diffraction grating. Edmund Optics sell both what are described as diffraction gratings and Ronchi gratings.

A [UK RIE] must have non-discretionary rules for the execution of orders on a multilateral trading facility operated by it.

If the [UK RIE] engages in matched principal trading in accordance with sub-paragraph (2)(a) it must establish arrangements to ensure compliance with the definition of matched principal trading5.

A picture taken with a 35mm lens on a camera with a full frame sensor, shot at f/2.8 and ISO 200, provides — in terms of depth of field and bokeh — a similar image as shot with the Sigma 18–35mm Art on a APS-C sensor camera with the same shutter speed, f/1.8 and ISO 100. Due to the difference in ISO is also full-frame relationship between cameras, and APS-C cameras wiped away a large part of the difference in signal-to-noise.

any provisions of the law of the United Kingdom relied on by the United Kingdom before IP completion day to implement Chapter 1 of Title II of the markets in financial instruments directive—5

MTFvs OTF

A [UK RIE] must, when requested to do so, provide the FCA with a detailed explanation in respect of an organised trading facility operated by it, or such a facility it proposes to operate, of -

Let me know what you think of the lens or if you plan to buy one. Find it online at B&H (they ship to Canada affordably but check PhotoPrice.ca).

4For the purposes of complying with the requirement set out in paragraph 9E of the Schedule to the Recognition Requirement Regulations (SME Growth Markets), the rules set out by the FCA in MAR 5.10 (Operation of an SME growth market) apply to a UK RIE operating a multilateral trading facility as an SME growth market, as though it was an investment firm.

the rules and practices relating to clearing and settlement including its arrangements with another person for the provision of clearing and settlement services, and where relevant the degree of oversight or supervision already exercised by central banks or other supervisory authorities with respect to such other provider of clearing and settlement services;

an investment firm which has permission under Part 4A of the Act to carry on a regulated activity which is an investment service or activity5;

The [UK RIE] must comply with rules made by the FCA as they have effect on 1 December 20216 as to how Articles 24, 25, 27 and 28 of the markets in financial instruments directive apply to its operation of an organised trading facility.

Sigma recently released an APS-C lens that rivals nearly all other zoom lenses I’ve seen in its range, the Sigma 18–35mm f/1.8 DC HSM Art. I haven’t tried it myself but I’m dying to try it on my Canon EOS 7D to see how it performs given the rave reviews.

(in relation to other types of transactions effected on the UK recognised body’s multilateral trading facility) the following factors:

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The Canon mount version is available now but on back order (understandably) and other mounts are coming soon it seems. Below are links to the lens pages on B&H for each of the available mounts. You can be notified when it will be available.

What is MTFgender

The 9 rounded aperture blades appear to create pleasing and smooth areas in the out-of-focus areas we lovingly call bokeh. Here’s a video testing it out from f/1.8 to f/16 in a number of conditions:

Where an exchange-operated SME growth market exchange admits a financial instrument to trading in the circumstances of paragraph (2), that exchange-operated SME growth market may not require the issuer of the financial instrument to demonstrate compliance with -

Most high-end constant aperture lenses are usually expensive and max out at f/2.8 or f/4. To have one that’s relatively affordable and has a constant max aperture of f/1.8 is literally unheard of. The suggested retail is $1160 but the promotional price is $800. At that price, it’s groundbreaking to say the least and it’s a game changer for those without a full-frame sensor camera.

UPDATE May 2016: Sigma now offers a telephoto zoom version of the Art series, the Sigma 50–100mm f/1.8 DC HSM Art ($1099). Get both and you’ve effectively got a prime lens for every focal length in the 27 to 52mm and 75 to 150mm range (based on Nikon 1.5x crop factor).

any links to another trading venue owned by the same [UK RIE] or to a systematic internaliser owned by the same exchange; and

[Note: MiFID ITS 19 prescribes the content and format of the description of the functioning of a MTF or OTF to be provided to the FCA]3

Any multilateral trading facility or an organised trading facility operated by the [UK RIE] must have at least three materially active members or users who each have the opportunity to interact with all the others in respect of price formation.

The key thing to understand with this lens is that it’s not for full-frame cameras. The most popular and comparable option for full-frame shooters is a 24–70mm f/2.8 zoom lens. Since full-frame cameras have inherently shallower depth of field and better performance at higher ISO, having a f/1.8 constant aperture zoom creates a true equivalent for those of us with cropped-sensor cameras. As noted in some early reviews, full-frame shooters still benefit from a slightly broader focal length zoom range with 24–70mm vs. Sigma’s 28.8–56mm equivalent, but this really levels the playing field and does so affordably. I say affordable given Canon’s version of the 24–70mm f/2.8 is a whopping $2300 while Nikon’s “only” at $1900.

Distortion refers to the altering or deformation of an audio signal's original waveform. Technically, any kind of audio processing (EQ, compression, time-based ...

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The other obvious negative is it’s size and weight which are inevitable given the specs. It comes in at a hefty 1.78 lb (811g). The zoom range is a bit limiting (28.8 to 56mm equivalent) but it could still easily replace a couple primes you’d otherwise buy and have to carry around and switch out on-the-go.

What’s remarkable about this lens is its extremely large and constant maximum aperture. That small f/1.8 value is fantastic as it means a lot of light gets into the lens AND it continues to do so even as you zoom in.

[A UK RIE] operating a multilateral trading facility or an organised trading facility3 must also operate a regulated market3.

MTFmeaning finance

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Nothing in this paragraph prevents a [UK RIE] from engaging an investment firm to carry out market making on an independent basis on an organised trading facility operated by the [UK RIE]provided the investment firm does not have close links with the [UK RIE].

why the organised trading facility does not correspond to and cannot operate as a multilateral trading facility, a regulated market or a systematic internaliser;

A [UK RIE] operating an SME growth market5 (an “exchange-operated SME growth market”) must comply with rules made by the FCA for the purposes of this paragraph as they have effect on IP completion day5.

An exchange-operated SME growth market must not admit to trading a financial instrument which is already admitted to trading on another SME growth market unless the issuer of the instrument has been informed of the proposed admission to trading and has not objected.

The discretion which the [UK RIE] must exercise in executing a client order may only be the discretion mentioned in sub-paragraph (5) or in sub-paragraph (6) or both.

MTFfull form

3For the purposes of compliance with paragraph 9F(9) of the Schedule to the Recognition Requirements Regulations, MAR 5A.3.9R applies to a UK RIE as though it was a firm.

The rules of the [UK RIE] must provide that where it, without obtaining the consent of the issuer, admits to trading on a multilateral trading facility operated by it a transferable security which has been admitted to trading on a regulated market, the [UK RIE] may not require the issuer of that security to demonstrate compliance with the disclosure obligations.

What is an mtfscp

ensure that the organised trading facility does not connect with a systematic internaliser in a way which enables orders in an organised trading facility and orders or quotes in a systematic internaliser to interact; and

ensure that the organised trading facility does not connect with another organised trading facility in a way which enables orders in different organised trading facilities to interact.

A [UK RIE] operating a multilateral trading facility or organised trading facility must provide the FCA with a detailed description of -

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how discretion will exercised in executing client orders, and in particular when an order to the organized trading facility may be retracted and when and how two or more client orders will be matched within the facility; and

MTFexamples

The rules of the [UK RIE] must provide that where it, without obtaining the consent of the issuer, admits to trading on an organised trading facility operated by it a transferable security which has been admitted to trading on a regulated market, the [UK RIE] may not require the issuer of that security to demonstrate compliance with the disclosure obligations.

(in relation to transactions in derivatives which are to be cleared pursuant to article 4 of EMIR or otherwise agreed by the relevant transacting parties to be cleared) the UK recognised body’s ability to demonstrate that its multilateral trading facility ensures such transactions are submitted and accepted for clearing as quickly as technologically practicable in accordance with article 29(2) of MiFIR and MiFID RTS 26; and

The rules of the [UK RIE] about access to, or membership of, a multilateral trading facility regulated market operated by it must permit the [UK RIE] to give access to or admit to membership to (as the case may be) only -3

3In paragraphs 9H(1) and (2) of the Schedule to the Recognition Requirements Regulations where the UK RIE must provide information in respect of an organised trading facility operated by it, such information must be provided to the FCA in writing and delivered by any one of the methods set out in REC 3.2.3R.

Fresnel Lens Standard Range 100mm F.L. x 63mmdia aperture ... Need a custom specification? ... Fresnel lenses consist of a flat surface with interspaced, concentric ...

Shallow depth of field is achieved by shooting photographs with a low f-number to let in more light. Learn more about shallow depth of field today.

1In determining whether a UK RIE operating a multilateral trading facility (including an SME growth market) or organised trading facility)3 complies with this chapter3, the FCA will have regard to the compliance of the UK RIE with equivalent recognition requirements. A UK RIE operating such facilities should also have regard to the guidance set out in MAR 5 (Multilateral trading facilities (MTFs)) and MAR 5A (Organised trading facilities (OTFs))3.

has sufficient resources for the role it is to perform, taking account of the financial arrangements the [UK RIE] has established in order to guarantee the adequate settlement transactions.

The [UK RIE] must maintain arrangements to provide sufficient publicly available information (or satisfy itself that sufficient information is publicly available) to enable users of the organised trading facility operated by it to form investment judgements, taking into account both the nature of the users and the types of instruments traded.

Jul 31, 2023 — Lasers are used in dental drills, eye surgery, tattoo removal, and (of course) laser pointers. Learn how different lasers generate such ...

dealing on own account on an organised trading facility operated by it, otherwise than in accordance with sub-paragraph (a), in respect of sovereign debt instruments for which there is not a liquid market.

Articles 64 to 66 of Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive;5

What it does not have is optical stabilization (OS). This is a little less important at wide angles and fast apertures but it would have been an amazing edition. That said, it would probably push the price above $1000 so it may have been a wise choice by Sigma to keep it priced for the general market. I would suspect a second generation of this lens may have stabilization.

An exchange5 operating a multilateral trading facility or an organised trading facility3 must comply with those requirements of-

What is an MTFmilitary

Greiner Bio-One Terasaki plates are suitable for all applications involving the serological determination of HLA antigens. The plates are supplied with the ...

Subject to the requirements of this paragraph, with regard to a system that arranges transactions in non-equities, the [UK RIE] may facilitate negotiation between clients so as to bring together two or more comparable potentially trading interests in a transaction.

Internal focusing and zoom means the lens doesn’t move in-and-out when you zoom or focus and the front element won’t rotate at all. This is ideal in that it’s more robust, won’t trap sand/dust/dirt and a filter or matt-box attached to the lens won’t rotate on you unexpectedly.

What is MTFin trading

derivatives which have not been declared subject to the clearing obligation in accordance with Article 5 of the EMIR regulation,

One might think such a lens would be quite soft but early reviews attest to its sharpness and the lens measuring scientists at DxOMark have proof in the numbers. This is a real winner for Sigma and it’s earned my respect for what they can produce.

This comparison table by DxOMark says it all given it’s now the best performing APS-C zoom in their entire database of lenses. It sits above the Canon EF 24–70mm f/2.8L II USM and even my beloved all-white Canon EF 70–200mm f/2.8L IS II USM! That’s amazing.

The second discretion is whether to match a specific client order with other orders available on the organised trading facility at a given time, provided the exercise of such discretion is in compliance with specific instructions received from the client and in accordance with the [UK RIE’s] obligations under—5

Myself, I’d order one now but I’m still thinking of going full-frame in a year or two so I’m hesitating. It’s so damn tempting however. If I had to repurchase my gear tomorrow, a Canon EOS 70D and this lens would be a killer combination for just $2000. Perhaps I’ll get this and hold off on a full-frame for a while!

not execute any client orders on that facility against its proprietary capital or the proprietary capital of any entity that is part of the same group or legal person as the [UK RIE] unless in accordance with sub-paragraph (2);

any EU regulation originally made under Chapter 1 of the markets in financial instruments directive which is retained direct EU legislation, or any subordinate legislation (within the meaning of the Interpretation Act 1978) made under those provisions on or after IP completion day;5

The [UK RIE] must maintain arrangements to provide sufficient publicly available information (or satisfy itself that sufficient information is publicly available) to enable users of a multilateral trading facility operated by it to form investment judgements, taking into account both the nature of the users and the types of instruments traded.

The requirements of this paragraph do not apply for the purposes of section 292(3)(a) of the Act (requirements for overseas investment exchanges and overseas clearing houses).

3In determining whether there are satisfactory arrangements for securing the timely discharge of the rights and liabilities of the parties to transactions effected on its multilateral trading facility, the FCA may have regard to:

Any information required under sub-paragraph (1) must be provided to the FCA in the manner which it considers appropriate.

Plan Phase IOS objectives are a type of microscope objective lens that combines the benefits of plan and phase contrast microscopy. Like Plan IOS objectives, ...

Where the organised trading facility crosses client orders the [UK RIE] may decide if, when and how much of two or more orders it wants to match within the system.

“non-equities” means bonds, structured finance products, emissions allowances and derivatives traded on a trading venue to which Article 8(1) of the markets in financial instrument regulation applies.