Distributed ledger technology for securities clearing and settlement: benefits, risks, and regulatory implications

This article outlines the benefits and risks of the distributed ledger technology(DLT)for the clearing and settlement of exchange-traded and OTC securities,followed by a description of the technology’s potential role for central counterparties and central securities depositories.Although the industry and scholars are attempting to solve the technological and operational issues that DLT systems still face,outstanding legal risks are such that the financial industry is asking for more regulatory guidance and intervention.This article wants to contribute to the public policy debate by presenting potential regulatory barriers that may have to be removed for DLT to be fully adopted.In addition,it identifies areas requiring an update of the legal framework in order to address certain prudential and conduct risks that this technology could introduce.

Power Distribution System Regulation (A Review)

This article presents a framework and a comprehensive model to optimize the regulation of the electricity distribution system.The regulatory requirements of the electricity distribution system and research gaps in this field are among the important outputs of this review article.In each of the presented parts of the framework,it has reviewed,introduced and listed the regulatory studies of the electricity distribution system.In order to calculate the PDSR(regulation of power distribution system)framework,governance first presents,its goals,and its development plan in the distribution sector,and discusses the regulatory position in it.After that,in the electricity distribution system,it describes the role of the regulator in the goals and plans of the electricity distribution system,and introduces the types of regulation of the electricity distribution system,and finally,discusses about the place of data in the regulation and its requirements,and the effects of regulation in the evolution and stability of the electricity distribution system.

Compartmentalized regulation of organelle integrity in neurodegenerative diseases:lessons from the Drosophila motor neuron

Neurons are highly polarized,morphologically asymmetric,and functionally compartmentalized cells that contain long axons extending from the cell body.For this reason,their maintenance relies on spatiotemporal regulation of organelle distribution between the somatodendritic and axonal domains.Although some organelles,such as mitochondria and smooth endoplasmic reticulum,are widely distributed throughout the neuron,others are segregated to either the somatodendritic or axonal compartment.For example,Golgi outposts and acidified lysosomes are predominantly present in the somatodendritic domain and rarely distributed along the axon,whereas newly formed autophagosomes and synaptic vesicles are mainly distributed in the distal axon(Britt et al.,2016).

Coordinated voltage regulation strategy of OLTC and BESS considering switching delay

When large-scale distributed renewable energy power generation systems are connected to the power grid,the risk of grid voltage fluctuations and exceeding the limit increases greatly.Fortunately,the on-load tap changer(OLTC)can adjust the transformer winding tap to maintain the secondary side voltage within the normal range.However,the inevitable delay in switching transformer taps makes it difficult to respond quickly to voltage fluctuations.Moreover,switching the transformer taps frequently will decrease the service life of OLTC.In order to solve this critical issue,a cooperative voltage regulation strategy applied between the battery energy storage systems(BESSs)and OLTSs.is proposed By adjusting the charge and discharge power of BESSs,the OLTC can frequently switch the transformer taps to achieve rapid voltage regulation.The effectiveness of the proposed coordinated regulation strategy is verified in the IEEE 33 node distribution systems.The simulation results show that the proposed coordinated regulation strategy can stabilize the voltage of the distribution network within a normal range and reduce the frequency of tap switching,as such elongating the service life of the equipment.

Distributed Periodic Event-Triggered Optimal Control of DC Microgrids Based on Virtual Incremental Cost

This article presents a distributed periodic eventtriggered(PET)optimal control scheme to achieve generation cost minimization and average bus voltage regulation in DC microgrids.In order to accommodate the generation constraints of the distributed generators(DGs),a virtual incremental cost is firstly designed,based on which an optimality condition is derived to facilitate the control design.To meet the discrete-time(DT)nature of modern control systems,the optimal controller is directly developed in the DT domain.Afterward,to reduce the communication requirement among the controllers,a distributed event-triggered mechanism is introduced for the DT optimal controller.The event-triggered condition is detected periodically and therefore naturally avoids the Zeno phenomenon.The closed-loop system stability is proved by the Lyapunov synthesis for switched systems.The generation cost minimization and average bus voltage regulation are obtained at the equilibrium point.Finally,switch-level microgrid simulations validate the performance of the proposed optimal controller.

A fault-tolerant control method for distributed flight control system facing wing damage

With the strong battlefield application environment of the next generation fighter,based on the design of distributed vehicle management system,a fault diagnosis and fault-tolerant control(FTC)method for wing surface damage is proposed in this paper.Aiming at three kinds of wing damage modes,this paper proposes a diagnosis method based on the fault decision tree and forms a fault decision tree for wing damage from the aspects of sample database construction,feature parameter extraction,and fault decision tree construction.Based on the fault diagnosis results,the longitudinal control law based on dynamic inverse and the lateral-directional robust control laws based on linear quadratic regulator(LQR)are proposed.From the simulation examples,the fault diagnosis algorithm based on the decision tree can complete the judgment of three wing surface damage modes within 2 ms,and the FTC law can make the fighter quickly return to a stable flight state after a short transient of 1 s,which achieves the fault-tolerant goal.

Evaluation of intermittent-distributed-generation hosting capability of a distribution system with integrated energy-storage systems

The penetration rate of distributed generation is gradually increasing in the distribution system concerned.This is creating new problems and challenges in the planning and operation of the system.The intermittency and variability of power outputs from numerous distributed renewable generators could significantly jeopardize the secure operation of the distribution system.Therefore,it is necessary to assess the hosting capability for intermittent distributed generation by a distribution system considering operational constraints.This is the subject of this study.An assessment model considering the uncertainty of generation outputs from distributed generators is presented for this purpose.It involves different types of regulation or control functions using on-load tap-changers(OLTCs),reactive power compensation devices,energy storage systems,and the reactive power support of the distributed generators employed.A robust optimization model is then attained It is solved by Bertsimas robust counterpart through GUROBI solver.Finally,the feasibility and efficiency of the proposed method are demonstrated by a modified IEEE 33-bus distribution system.In addition,the effects of the aforementioned regulation or control functions on the enhancement of the hosting capability for intermittent distributed generation are examined.

Localization of Voltage Regulators in Distribution Systems by a Mixed Genetic–Tabu Search Algorithm

The optimal allocation of regulators banks in distribution systems is a merely combinatorial problem in which the best points of installation correspond to the best benefit, considering the admitted objective function, without violating and operating limits. The objective function must be chosen so that its value represents the operation state of the system. As the problem possesses combinatorial nature, its complexity will increase exponentially with the number of possibilities. Systems with large numbers of nodes and / or with the possibility of installing more than one bank require a large number of calculations to find the solution. An additional issue is the fact that the problem does not have a continuous nature, presenting discontinuity points in the objective function, limiting the application of optimization methods based on gradients. Based on the nature of the problem two optimization methods were used to solve the problem: Genetic Algorithm (GA) and modified Tabu Search (TS). The GA function will scour the search space and find regions with local minima that are candidates to be the solution. On the other hand the TS provides local search in the regions defined by GA so that the overall optimum is achieved.

Root distribution and influencing factors of dry-sowing and wet-growing cotton plants under different water conditions

To study the effect of soil water and salt environment factors on the root growth of cotton under different moisture control,three different emergence water volumes(60,105,and 150 m^(3)/hm^(2)),two different frequencies(high frequency and low frequency)and one double film cover winter irrigation control treatment(CK:2250 m^(3)/hm^(2))were set up to analyze the spatial distribution patterns of soil water and salt environment and root density in dry sown and wet emerged cotton fields under diffe-rent moisture control conditions.The results show that the soil water content and water infiltration range gradually become larger with the increase of seedling water quantity,and the larger the seedling water quantity,the higher the soil water content.With the same seedling water quantity,the soil water content of the high-frequency(HF)treatment becomes obviously larger.The soil conductivity of each treatment tends to decrease gradually with the increase of seedling water and drip frequency,among which the distribution of soil conductivity of S6 treatment is closest to that of CK.With the increase in soil depth,the soil conductivity tends to increase first and then decrease.Compared with the low-frequency(LF)treatment,the high-frequency treatment shows a significantly deeper soil salt accumulation layer.The root length density(RLD)of cotton gradually increases with the amount of seedling water and the frequency of dripping.The soil layer of root distribution gradually deepens with the amount of seedling water in the vertical direction,and the RLD value in the horizontal direction is significantly greater in the mulched area than that in the bare area between films.This research can serve as a solid scientific foundation for the use of dry sowing and wet emergence techniques in cotton fields in southern Xinjiang.

Containment-Based Multiple PCC Voltage Regulation Strategy for Communication Link and Sensor Faults

The distributed AC microgrid(MG) voltage restoration problem has been extensively studied. Still, many existing secondary voltage control strategies neglect the co-regulation of the voltage at the point of common coupling(PCC) in the AC multi-MG system(MMS). When an MMS consists of sub-MGs connected in series, power flow between the sub-MGs is not possible if the PCC voltage regulation relies on traditional consensus control objectives. In addition, communication faults and sensor faults are inevitable in the MMS. Therefore, a resilient voltage regulation strategy based on containment control is proposed.First, the feedback linearization technique allows us to deal with the nonlinear distributed generation(DG) dynamics, where the PCC regulation problem of an AC MG is transformed into an output feedback tracking problem for a linear multi-agent system(MAS) containing nonlinear dynamics. This process is an indispensable pre-processing in control algorithm design. Moreover, considering the unavailability of full-state measurements and the potential faults present in the sensors, a novel follower observer is designed to handle communication faults. Based on this, a controller based on containment control is designed to achieve voltage regulation. In regulating multiple PCC voltages to a reasonable upper and lower limit, a voltage difference exists between sub-MGs to achieve power flow. In addition, the secondary control algorithm avoids using global information of directed communication network and fault boundaries for communication link and sensor faults. Finally, the simulation results verify the performance of the proposed strategy.

Cognitive-affective regulation process for micro-expressions based on Gaussian cloud distribution

In this paper, we explore the process of emotional state transition. And the process is impacted by emotional state of interaction objects. First of all, the cognitive reasoning process and the micro-expressions recognition is the basis of affective computing adjustment process. Secondly, the threshold function and attenuation function are proposed to quantify the emotional changes. In the actual environment, the emotional state of the robot and external stimulus are also quantified as the transferring probability. Finally, the Gaussian cloud distribution is introduced to the Gross model to calculate the emotional transitional probabilities. The experimental results show that the model in human-computer interaction can effectively regulate the emotional states, and can significantly improve the humanoid and intelligent ability of the robot. This model is consistent with experimental and emulational significance of the psychology, and allows the robot to get rid of the mechanical emotional transfer process.

Markets in crypto‑assets regulation:Does it provide legal certainty and increase adoption of crypto‑assets?

This study discusses the European Union’s proposal for a Regulation on Markets in Crypto-Assets,now subject to formal approval by the European Parliament.The objective is to explore whether it will positively impact the adoption of crypto-assets in the financial sector.The use of crypto-assets is growing.However,some stakeholders in the financial service sector remain skeptical and hesitant to adopt assets that are yet to be defined and have an unclear legal status.This regulatory uncertainty has been identified as the primary reason for the reluctant adoption.The proposed regulation(part of the EU’s Digital Finance Strategy)aims to provide this legal certainty for currently unregulated crypto-assets.This study investigates whether or not the proposed regulation can be expected to have the intended effect by reviewing the proposed regulation itself,the opinions and reactions of the various stakeholders,and secondary literature.Findings reveal that such regulation will most likely not accelerate the adoption of crypto-assets in the EU financial services sector,at least not sufficiently or as intended.Some suggestions are made to improve the proposal.

Research on Volt/Var Control of Distribution Networks Based on PPO Algorithm

In this paper,a model free volt/var control(VVC)algorithm is developed by using deep reinforcement learning(DRL).We transform the VVC problem of distribution networks into the network framework of PPO algorithm,in order to avoid directly solving a large-scale nonlinear optimization problem.We select photovoltaic inverters as agents to adjust system voltage in a distribution network,taking the reactive power output of inverters as action variables.An appropriate reward function is designed to guide the interaction between photovoltaic inverters and the distribution network environment.OPENDSS is used to output system node voltage and network loss.This method realizes the goal of optimal VVC in distribution network.The IEEE 13-bus three phase unbalanced distribution system is used to verify the effectiveness of the proposed algorithm.Simulation results demonstrate that the proposed method has excellent performance in voltage and reactive power regulation of a distribution network.

改进下垂控制下的中压直流配电系统双时间尺度分层调控方法

针对中压直流配电系统,在负荷激增、可再生能源出力突变等特殊工况下,传统优化调度方案与协调控制策略存在系统运行经济性有待提升、直流母线电压易越限的问题。为此,提出一种基于改进下垂控制的中压直流配电系统双时间尺度分层调控方法。首先,构建一种具备直流故障穿越能力的3端混合型模块化多电平换流器(modular multilevel converter,MMC)环状±10 kV中压直流配电系统,该系统含电动汽车充电站、储能系统、分布式光伏与风电等灵活性资源。其次,制定各单元协调控制策略,并采用tan函数改进传统下垂控制,以提高系统应对大幅功率波动的能力。然后,基于改进控制策略提出一种双时间尺度分层优化调控方法:在长时间尺度的系统调度层,以运行总成本最小为优化目标,确定各换流器参考功率;在短时间尺度的换流器间协调控制层,改进下垂曲线,并优化控制系数,以兼顾系统运行经济性与电能质量。最后,以典型算例验证该文所提优化调度方案及协调控制策略的有效性:通过灵活调度多种柔性资源,系统运行总成本可降低约11%;在某数据中心负荷激增100%的工况下,各直流母线电压波动仍能维持在±3%UN(额定电压)的允许范围内。

高比例分布式电源对配电网运行的影响及应对措施

随着国家“双碳”政策的提出,分布式电源呈现“点多面广、局部高密度并网”的发展态势,分布式电源大规模接入,将加速有源配电网形成,给配电网安全稳定运行带来较大影响,通过分析高比例分布式电源对四平地区配电网电压控制、电力电量平衡、负荷预测、继电保护及安全运行风险等影响,提出了分布式电源对配电网运行影响的主要原因,并结合现场实际工作经验,在分布式电源承载力、电压调整、分布式电源出力预测、继电保护及安全自动装置、配电网运行安全风险等方面有针对性地提出应对措施。

电力电子变压器参与配电网调压调频的应用研究

为提升配电网的稳定性,该文提出利用配电网电力电子变压器对配电网的电压和频率进行调节。通过电力电子变压器输入级进行配电网无功功率调节,利用母线电压下垂特性提出无功调节方法,并引入无功电流反馈以提高配电网电压质量和稳定性;同时,通过电力电子变压器输出级控制负载电压以调节配网有功功率,作为一次调频储备负载,从而在频率暂态期间减小频率偏差。通过对基于配电网电力电子变压器的调压调频控制方法进行实验验证,所提控制策略能改善配电网电压和频率质量,有效提升配电网的稳定性。

高比例分布式可再生能源交直流混合配电网运行调控:科学问题与技术框架

随着分布式可再生能源发电与中低压直流组网技术的快速发展,未来配电网必然向复杂的交直流混合形态演进,其运行调控技术面临许多新的挑战。在高比例分布式可再生能源交直流混合配电网(HR-HDN)运行调控技术发展需求分析的基础上,提炼出HR-HDN运行调控技术的3个科学问题,并以多类型可控设备协同、源-网-荷-储高度互动化和市场化需求为研究主线,从稳定控制、故障主动防御与恢复、电力市场机制辅助调控以及“平台+数据”数字化集成调控4个方面,提出了HR-HDN的运行调控技术框架。最后,对HR-HDN运行调控关键技术的未来发展进行了展望。

贝叶斯推断视角的系统调控内涵与策略研究

系统调控思想是融合一般系统理论及复杂系统自组织等理论,倡导通过建构与演化结合,对系统整体进行调控与管理,从而达至系统目标及实现系统和谐有序的一种理论。系统调控思想在认知及推断角度与贝叶斯推断有异曲同工之妙。贝叶斯推断的认识论意蕴及演绎与归纳确证逻辑从逻辑角度分析并论证了系统调控思想中建构及演化策略结合的必要性,为系统调控思想提供了理论基础。基于贝叶斯推断视角,文中给出增强先验知识、加强过程学习等5类调控策略。

第三次分配视角下医疗众筹发展模式的比较及政府引导策略

网络医疗众筹作为互联网慈善的新形式,具有“三次分配”的功能,一定程度上弥补了医疗救助的供给不足,是大病救助新的渠道。但医疗众筹在起步阶段缺乏制度约束,需要通过模式设计树立口碑和提升号召力。现有医疗众筹模式主要包括政府支持模式、基金会主导模式和商业医疗众筹模式等三种,它们在公益性、专业性、可信度、政府参与度等方面存在差异,第三次分配的效果也不尽相同。为了促进医疗众筹的良性发展,政府可探索积极培育公私合营医疗众筹模式,提高模式公益性,加强医疗众筹运营的法律规制,建立公众信任等措施更主动监管医疗众筹的发展。

环境规制下政府监管与企业协作配送策略演化稳定性研究

政府和企业联盟是协作配送低碳减排的主要参与者,研究政企之间的利益关系对于促进减排具有重要意义。在我国环境规制政策的背景下,借助演化博弈理论探讨了政府监管决策对企业联盟协作配送策略选择的演化过程,建立了政府监管和企业联盟协作低碳配送的演化博弈模型。随后进行数值仿真,模拟政府和企业联盟的动态演化过程,得到4种稳定均衡策略。研究结果表明,政府初始监管比例越大,企业联盟趋向于稳定策略的速度越快。政府应提高监管意愿,设置高于阈值的环境税率,引导企业联盟协作低碳配送,从而达到低碳减排的目的。