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Quantitative Finance · Glossário

O que é Limited liability partnership, members’ capital?

Também chamado de: limited liability partnership · members' capital

Definition 2.1 The Desk and the Firm · Capítulo 2 — The Proprietary Market-Making Firm

A limited liability partnership is a body corporate, with legal personality separate from its members, whose members share its profit under a members’ agreement and whose liability is limited to what they have contributed. A member’s members’ capital is the capital the member has contributed or left in the firm, recorded in the member’s capital account and repayable on departure on the terms of the agreement.

A trading partnership’s year. Profit is allocated by points; what members do not draw stays as capital, which the prime brokers turn into trading capacity; technology spending keeps capture, and so revenue, from decaying. Model: firm.partnership.
Figure 2.1. A trading partnership’s year. Profit is allocated by points; what members do not draw stays as capital, which the prime brokers turn into trading capacity; technology spending keeps capture, and so revenue, from decaying. Model: firm.partnership.

Exemplos

Example 2.2 (An allocation)

Four members hold 40, 30, 20 and 10 points and draw 80% of their allocations. A year’s profit of $116.25 million allocates $46.5 million to the first; she draws $37.2 million and $9.3 million stays in her capital account. In all the members draw $93.0 million and leave $23.25 million, a retention ratio of 20%.

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