DOCSLIB.ORG

General Rule Prohibiting Disruptive Trading Practices CME Rule 575

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
General Rule Prohibiting Disruptive Trading Practices CME Rule 575 i CME AND ICE DISRUPTIVE TRADING PRACTICES RULES SUMMARY CME Rule and Guidance ICE Rule and Guidance Guidance Common to CME and ICE CFTC Guidance CWT Comments General Rule Prohibiting Disruptive Trading Practices CME Rule 575. All orders must ICE Rule 4.02(I)(2). In connection The CME and ICE FAQs include a list of factors Section 4c(a)(5) of the Commodity Although the CME and ICE rules do not be entered for the purpose of with the placement of any order or that will be considered in assessing a potential Exchange Act (“CEA”) provides that: “it expressly address the CEA’s prohibition on executing bona fide execution of any transaction, it is a violation of the disruptive trading practices. The shall be unlawful for any person to engage violating bids and offers, the ICE and CME transactions. Additionally, all violation for any person to factors are very similar across both CME and ICE. in any trading practice, or conduct on or trading functionality should prevent this non-actionable messages must knowingly enter any bid or offer for A market participant is not prohibited from subject to the rules of a registered entity type of conduct. The exchanges may find be entered in good faith for the purpose of making a market making a two-sided market with unequal that – (A) violates bids or offers; (B) more generally that violating bids or legitimate purposes. price which does not reflect the quantities as long as both orders are entered to demonstrates intentional or reckless offers is prohibited by the exchanges’ Intent: Rule 575 applies to true state of the market, or execute bona fide transactions.iv disregard for the orderly execution of disruptive trading practices rules. intentional conduct (and in the knowingly entering, or causing to For both CME and ICE, the means to cancel an transactions during the closing period; or Neither CME or ICE rule nor the case of orderly trading (Rule be entered, bids or offers other order (e.g., CME’s or ICE’s Self-Match Prevention (C); is of the character of, or is commonly accompanying guidance defines “bona 575.D), to both intentional and than in good faith for the purpose functionality) does not indicate whether the known to the trade as, ‘spoofing’ (bidding fide transactions,” “good faith” or reckless conduct). of executing bona fide transactions. trade violates the CME or ICE rules.v or offering with the intent to cancel the “legitimate purposes.” The guidance and Scope: Rule 575 applies to all Intent: Rule 4.02 applies to bid or offer before execution).” notes contained in this chart should open outcry and electronic intentional conduct (and in the In May 2013, the CFTC issued interpretive provide market participants with a helpful trading activity, including all case of 4.02(I)(D), to both guidance (“CFTC Guidance”) on its anti- starting place to develop compliance market states (pre-opening, intentional conduct and reckless disruptive practices authority under CEA controls that are reasonably designed to vi closing period, and all trading disregard for adverse impacts). Section 4c(a)(5). prevent violations of CME Rule 575 and sessions).ii Scope: Rule 4.02 applies to any The CFTC will rely on facts and ICE Rule 4.02. activity that influences a market circumstances to determine if there has Like the CFTC, ICE and CME will rely on price, including during the pre- been a violation of the CEA prohibition on facts and circumstances to determine open period.iii disruptive trading practices.vii whether there is a violation of the The CFTC Guidance does not apply to prohibition on disruptive trading, block trades or exchange for related including circumstantial evidence to prove position transactions (“EFRPs”) that are intent. However, even if a trade(s) is bona transacted in accordance with CFTC fide, it may violate the prohibition on regulations. disruptive trading (e.g., numerous trades entered for bona fide and legitimate purposes that are executed during a small window of the closing period). A market participant making a two-sided market should intend to transact on either side. Cadwalader, Wickersham & Taft LLP | 2 CME Rule and Guidance ICE Rule and Guidance Guidance Common to CME and ICE CFTC Guidance CWT Comments Entering Trades with the Intent to Cancel (“Spoofing”) CME Rule 575.A. No person ICE Rule 4.02(I)(A). It is a violation Although ICE and CME did not identify factors CEA section 4c(a)(5)prohibits conduct that A spoofing violation under the CME and shall enter or cause to be to enter an order or market specific to spoofing, the following factors from is of the character of “spoofing” (bidding ICE Rules, and the CFTC Guidance requires entered an order with the message, or cause an order or the FAQs appear most relevant to the issue: or offering with the intent to cancel the a showing of specific intent, which the intent, at the time of order market message to be entered, • Whether the market participant’s intent was bid or offer before execution). The CFTC CME, ICE, and CFTC will determine by entry, to cancel the order before with the intent to cancel the order to induce others to trade when they intends to apply the spoofing prohibition evaluating the factors included in their execution or to avoid execution. before execution, or modify the otherwise would not; to bid and offer activity in all products guidance. Market participants should order to avoid execution. traded on all registered entities, including ensure that their communications do not • Whether the market participant’s intent was DCMs and SEFs. lead to improper inferences after the fact. to affect a price rather than to change his position; The CFTC Guidance provides the following FIA hosted separate webinars for both examples of spoofing: CME and ICE. During the CME FIA • Whether the market participant’s intent was Webinar, CME emphasized that intent to create misleading market conditions; • overloading the quotation system of a registered entity; must be established at the time of order • The ability of the market participant to entry, which, according to the CME, is • delaying another person’s execution of manage the risk associated with the order(s) more specific than the CFTC’s guidance on trades; if fully executed; the CEA Prohibited Trading Practices. • • The change in the best offer price, best bid creating an appearance of false market Later, the CME clarified, and the CFTC price, last sale price, or other price that depth; and agreed, that the intent standard is results from the entry of the order; and • creating artificial price movements determined at order entry for both the • The queue position or priority of the order in upwards or downwards. CME and the CFTC. ICE takes the same the order book. The CFTC does not apply the spoofing view that intent is measured at the time Modifying or cancelling an order due to a prohibition to market communications of order entry. perceived change in circumstances is not a such as authorized pre-trade The prohibition on spoofing also applies violation.viii communications. to resting orders that are later modified to Fat-finger orders do not constitute disruptive The CFTC may find spoofing even where a avoid execution. trading, but may violate other ICE or CME rules market participant receives a partial fill of pertaining to acts that are detrimental to the its order. best interests of the exchange.ix The CFTC specified that a violation does A market participant may enter orders to obtain not require a pattern of activity and that a “queue positioning” in the order book and single instance can be the basis for a subsequently cancel those orders based on violation. changing market conditions, provided there are Trading, practices or conduct that is no other indicia of disruptive trading.x reckless or negligent do not constitute A partial fill of an order may indicate that the “spoofing” because the CFTC must order was entered in good faith, but it does not establish intent. establish a safe harbor from liability under the It is not a violation of the spoofing prohibition to cancel a bid or offer before Cadwalader, Wickersham & Taft LLP | 3 CME Rule and Guidance ICE Rule and Guidance Guidance Common to CME and ICE CFTC Guidance CWT Comments disruptive trading practices rules.xi execution if the market participant’s CME and ICE do not establish a safe harbor for actions were part of a legitimate, good the amount of time that an order must be faith attempt to consummate a trade. exposed to the market to demonstrate that it was not entered into with the intent to cancel, although time is a factor in the determination of whether an order constituted a disruptive practice.xii Entering Trades with the Intent to Mislead Market Participants CME Rule 575.B. No Person ICE Rule 4.02(I)(C). It is a violation “Misleading” is a more specific statement of the In the CFTC Guidance, one of the In addition to CEA’s prohibition on shall enter or cause to be to enter an order or market general requirement not to act in violation of examples of prohibited spoofing activity spoofing, the CFTC could rely on its fraud- entered an actionable or non- message, or cause an order or just and equitable principles of trade.xv is: “submitting or cancelling multiple bids based manipulation authority to actionable message or messages market message to be entered, This section prohibits a market participant from or offers to create an appearance of false prosecute these types of trading activities. xvii with intent to mislead other with the intent to .
Load more

Recommended publications
  • The Queen's Gambit
    01-01 Cover - April 2021_Layout 1 16/03/2021 13:03 Page 1 03-03 Contents_Chess mag - 21_6_10 18/03/2021 11:45 Page 3 Chess Contents Founding Editor: B.H. Wood, OBE. M.Sc † Editorial....................................................................................................................4 Executive Editor: Malcolm Pein Malcolm Pein on the latest developments in the game Editors: Richard Palliser, Matt Read Associate Editor: John Saunders 60 Seconds with...Geert van der Velde.....................................................7 Subscriptions Manager: Paul Harrington We catch up with the Play Magnus Group’s VP of Content Chess Magazine (ISSN 0964-6221) is published by: A Tale of Two Players.........................................................................................8 Chess & Bridge Ltd, 44 Baker St, London, W1U 7RT Wesley So shone while Carlsen struggled at the Opera Euro Rapid Tel: 020 7486 7015 Anish Giri: Choker or Joker?........................................................................14 Email: [email protected], Website: www.chess.co.uk Danny Gormally discusses if the Dutch no.1 was just unlucky at Wijk Twitter: @CHESS_Magazine How Good is Your Chess?..............................................................................18 Twitter: @TelegraphChess - Malcolm Pein Daniel King also takes a look at the play of Anish Giri Twitter: @chessandbridge The Other Saga ..................................................................................................22 Subscription Rates: John Henderson very much
    [Show full text]
  • Glossary of Chess
    Glossary of chess See also: Glossary of chess problems, Index of chess • X articles and Outline of chess • This page explains commonly used terms in chess in al- • Z phabetical order. Some of these have their own pages, • References like fork and pin. For a list of unorthodox chess pieces, see Fairy chess piece; for a list of terms specific to chess problems, see Glossary of chess problems; for a list of chess-related games, see Chess variants. 1 A Contents : absolute pin A pin against the king is called absolute since the pinned piece cannot legally move (as mov- ing it would expose the king to check). Cf. relative • A pin. • B active 1. Describes a piece that controls a number of • C squares, or a piece that has a number of squares available for its next move. • D 2. An “active defense” is a defense employing threat(s) • E or counterattack(s). Antonym: passive. • F • G • H • I • J • K • L • M • N • O • P Envelope used for the adjournment of a match game Efim Geller • Q vs. Bent Larsen, Copenhagen 1966 • R adjournment Suspension of a chess game with the in- • S tention to finish it later. It was once very common in high-level competition, often occurring soon af- • T ter the first time control, but the practice has been • U abandoned due to the advent of computer analysis. See sealed move. • V adjudication Decision by a strong chess player (the ad- • W judicator) on the outcome of an unfinished game. 1 2 2 B This practice is now uncommon in over-the-board are often pawn moves; since pawns cannot move events, but does happen in online chess when one backwards to return to squares they have left, their player refuses to continue after an adjournment.
    [Show full text]
  • July 2021 COLORADO CHESS INFORMANT
    Volume 48, Number 3 COLORADO STATE CHESS ASSOCIATION July 2021 COLORADO CHESS INFORMANT BACK TO “NEARLY NORMAL” OVER-THE-BOARD PLAY Volume 48, Number 3 Colorado Chess Informant July 2021 From the Editor Slowly, we are getting there... Only fitting that the return to over-the-board tournament play in Colorado resumed with the Senior Open this year. If you recall, that was the last over-the-board tournament held before we went into lockdown last year. You can read all about this year’s offer- The Colorado State Chess Association, Incorporated, is a ing on page 12. Section 501(C)(3) tax exempt, non-profit educational corpora- The Denver Chess Club has resumed activity (read the resump- tion formed to promote chess in Colorado. Contributions are tive result on page 8) with their first OTB tourney - and it went tax deductible. like gang-busters. So good to see. They are also resuming their Dues are $15 a year. Youth (under 20) and Senior (65 or older) club play in August. Check out the latest with them at memberships are $10. Family memberships are available to www.DenverChess.com. additional family members for $3 off the regular dues. Scholas- And if you look at the back cover you will see that the venerable tic tournament membership is available for $3. Colorado Open has returned in all it’s splendor! Somehow I ● Send address changes to - Attn: Alexander Freeman to the think that this maybe the largest turnout so far - just a hunch on email address [email protected]. my part as players in this state are so hungry to resume the tour- ● Send pay renewals & memberships to the CSCA.
    [Show full text]
  • Merit Badge Workbook This Workbook Can Help You but You Still Need to Read the Merit Badge Pamphlet
    Chess Merit Badge Workbook This workbook can help you but you still need to read the merit badge pamphlet. This Workbook can help you organize your thoughts as you prepare to meet with your merit badge counselor. You still must satisfy your counselor that you can demonstrate each skill and have learned the information. You should use the work space provided for each requirement to keep track of which requirements have been completed, and to make notes for discussing the item with your counselor, not for providing full and complete answers. If a requirement says that you must take an action using words such as "discuss", "show", "tell", "explain", "demonstrate", "identify", etc, that is what you must do. Merit Badge Counselors may not require the use of this or any similar workbooks. No one may add or subtract from the official requirements found in Scouts BSA Requirements (Pub. 33216 – SKU 653801). The requirements were last issued or revised in 2013 • This workbook was updated in June 2020. Scout’s Name: __________________________________________ Unit: __________________________________________ Counselor’s Name: ____________________ Phone No.: _______________________ Email: _________________________ http://www.USScouts.Org • http://www.MeritBadge.Org Please submit errors, omissions, comments or suggestions about this workbook to: [email protected] Comments or suggestions for changes to the requirements for the merit badge should be sent to: [email protected] ______________________________________________________________________________________________________________________________________________ 1. Discuss with your merit badge counselor the history of the game of chess. Explain why it is considered a game of planning and strategy. 2. Discuss with your merit badge counselor the following: a.
    [Show full text]
  • Chess Merit Badge
    Chess Merit Badge Troop 344 & 9344 Pemberville, OH Requirements 1. Discuss with your merit badge counselor the history of the game of chess. Explain why it is considered a game of planning and strategy. 2. Discuss with your merit badge counselor the following: a. The benefits of playing chess, including developing critical thinking skills, concentration skills, and decision- making skills, and how these skills can help you in other areas of your life b. Sportsmanship and chess etiquette 2 Requirements 3. Demonstrate to your counselor that you know each of the following. Then, using Scouting’s Teaching EDGE, teach someone (preferably another Scout) who does not know how to play chess: a. The name of each chess piece b. How to set up a chessboard c. How each chess piece moves, including castling and en passant captures 3 Requirements 4. Do the following: a. Demonstrate scorekeeping using the algebraic system of chess notation. b. Discuss the differences between the opening, the middle game, and the endgame. c. Explain four opening principles. d. Explain the four rules for castling. e. On a chessboard, demonstrate a "scholar's mate" and a "fool's mate." f. Demonstrate on a chessboard four ways a chess game can end in a draw. 4 Requirements 5. Do the following: a. Explain four of the following elements of chess strategy: exploiting weaknesses, force, king safety, pawn structure, space, tempo, time. b. Explain any five of these chess tactics: clearance sacrifice, decoy, discovered attack, double attack, fork, interposing, overloading, overprotecting, pin, remove the defender, skewer, zwischenzug. c. Set up a chessboard with the white king on e1, the white rooks on a1 and h1, and the black king on e5.
    [Show full text]
  • Chess Merit Badge Requirements
    CHESS STEM-Based BOY SCOUTS OF AMERICA MERIT BADGE SERIES CHESS “Enhancing our youths’ competitive edge through merit badges” Requirements 1. Discuss with your merit badge counselor the history of the game of chess. Explain why it is considered a game of planning and strategy. 2. Discuss with your merit badge counselor the following: a. The benefits of playing chess, including developing critical thinking skills, concentration skills, and decision-making skills, and how these skills can help you in other areas of your life b. Sportsmanship and chess etiquette 3. Demonstrate to your counselor that you know each of the following. Then, using Scouting’s Teaching EDGE*, teach someone (preferably another Scout) who does not know how to play chess: a. The name of each chess piece b. How to set up a chessboard c. How each chess piece moves, including castling and en passant captures 4. Do the following: a. Demonstrate scorekeeping using the algebraic system of chess notation. b. Discuss the differences between the opening, the middle game, and the endgame. c. Explain four opening principles. d. Explain the four rules for castling. e. On a chessboard, demonstrate a “scholar’s mate” and a “fool’s mate.” f. Demonstrate on a chessboard four ways a chess game can end in a draw. * You may learn about Scouting’s Teaching EDGE from your unit leader, another Scout, or by attending training. 35973 ISBN 978-0-8395-0000-1 ©2016 Boy Scouts of America 2016 Printing 5. Do the following: a. Explain four of the following elements of chess strategy: exploiting weaknesses, force, king safety, pawn structure, space, tempo, time.
    [Show full text]
  • Chess Curriculum - All Levels (1-20)
    Chess Curriculum - All Levels (1-20) Level 1 History of Chess and Introduction to Chessboard Saying Hello: King, Queen and Pawn Saying Hello: Rook, Bishop and Knight Check, Checkmate and Stalemate Coordinating pieces for a goal Level 2 Record capture with pieces and pawn Recording ambiguous moves Attack and Defense Recording in a scoresheet Checkmate with QR rollers Checkmate in one with Q Checkmate in one with R Checkmate in one with B Checkmate in one with N Checkmate in one with pawn Misc Checkmate in one Exchange of pieces of same value Counting Attack and defense Capture free piece Special moves- castling, enpassant, promotion, underpromotion 4 Queens/ 8 Queens Problem Level 3 Three phases of the game Idea behind chess moves- basics Tactics overview Pin-Learn to pin, escape from pin Skewer Fork Analyzing recorded games Pawn Games Level 4 Discover attack Discovered check Double Check Ideas to develop the Queen Basic checkmate patterns Short Games with quick checkmates Level 5 Pinned piece does not Protect Illusionary pins Traps Opening principles- basics Controlling the centre Rapid development Selecting the right moves or the candidatate moves Play games and explain the ideas behind the moves Level 6 Overloading/ overworked piece Remove the guard Decoy Deflection Take the right capture Tactics identification in games Combination of tactics Mate in two Level 7 Rook mates vs lone king in Ending Short break Zugzwang Playing with the King Intro to king and pawn ending Pawn play strategy Pawn box Level 8 Playing pawn endings Opposition
    [Show full text]
  • The Chessbrain Project – Massively Distributed Inhomogeneous Speed- Critical Computation
    The ChessBrain Project – Massively Distributed Inhomogeneous Speed- Critical Computation C. M. Frayn CERCIA, School of Computer Science, University of Birmingham, Edgbaston, Birmingham, B15 2TT, UK [email protected] C. Justiniano ChessBrain Project, Newbury Park, CA, USA [email protected] The ChessBrain project was created to investigate the feasibility of massively distributed, inhomogeneous, speed-critical computa- tion on the Internet. The game of chess lends itself extremely well to such an experiment by virtue of the innately parallel nature of game tree analysis. We believe that ChessBrain is the first project of its kind to address and solve many of the challenges posed by stringent time limits in distributed calculations. These challenges include ensuring adequate security against organized attacks; dealing with non-simultaneity and network lag; result verification; sharing of common information; optimizing redundancy and intelligent work distribution. 1 INTRODUCTION Kasparov, lost in speed chess to the programme Fritz 2. Most famously, in 1997, the IBM supercomputer Deep Blue beat GM The ChessBrain project was founded in January 2002. Its princi- Kasparov in a high-profile match at standard time controls. Just pal aim was to investigate the use of distributed computation for seven years ago, the fastest, most expensive chess computer ever a time-critical application. Chess was chosen because of its in- built (Hsu (1999)) finally managed to beat the top human player. nately parallelisable nature, and also because of the authors’ The goals behind the ChessBrain project were very clear. personal interest in the game. (Justiniano (2003), Justiniano & Firstly, we wanted to illustrate the power of distributed computa- Frayn (2003)) tion applied to a well-known problem during an easily publicised Development of ChessBrain was privately financed by the au- challenge.
    [Show full text]
  • Merit Badge Workbook This Workbook Can Help You but You Still Need to Read the Merit Badge Pamphlet
    Chess Merit Badge Workbook This workbook can help you but you still need to read the merit badge pamphlet. This Workbook can help you organize your thoughts as you prepare to meet with your merit badge counselor. You still must satisfy your counselor that you can demonstrate each skill and have learned the information. You should use the work space provided for each requirement to keep track of which requirements have been completed, and to make notes for discussing the item with your counselor, not for providing full and complete answers. If a requirement says that you must take an action using words such as "discuss", "show", "tell", "explain", "demonstrate", "identify", etc, that is what you must do. Merit Badge Counselors may not require the use of this or any similar workbooks. No one may add or subtract from the official requirements found in Boy Scout Requirements (Pub. 33216 – SKU 637685). The requirements were last issued or revised in 2013 • This workbook was updated in March 2018. Scout’s Name: __________________________________________ Unit: __________________________________________ Counselor’s Name: ______________________________________ Counselor’s Phone No.: ___________________________ http://www.USScouts.Org • http://www.MeritBadge.Org Please submit errors, omissions, comments or suggestions about this workbook to: [email protected] Comments or suggestions for changes to the requirements for the merit badge should be sent to: [email protected] ______________________________________________________________________________________________________________________________________________ 1. Discuss with your merit badge counselor the history of the game of chess. Explain why it is considered a game of planning and strategy. 2. Discuss with your merit badge counselor the following: a.
    [Show full text]
  • Guide to Best Practices in Ocean Acidification Research
    EUROPEAN Research & Environment COMMISSION Innovation Guide to best practices for ocean acidification research and data reporting projects Studies and reports EUR 24872 EN EUROPEAN COMMISSION Directorate-General for Research and Innovation Directorate I – Environment Unit I.4 – Climate change and natural hazards Contact: Paola Agostini European Commission Office CDMA 03/124 B-1049 Brussels Tel. +32 2 29 78610 Fax +32 2 29 95755 E-mail: [email protected] Contact: Ulf Riebesell Jean-Pierre Gattuso IFM-GEOMAR Laboratoire d’Océanographie Leibniz Institute of Marine Sciences CNRS-INSU and Université Pierre et Marie Curie Düsternbrooker Weg 20 B.P. 28 24105 Kiel 06234 Villefranche-sur-mer Cedex Germany France E-mail: [email protected] E-mail: [email protected] www.epoca-project.eu Cover photo: © David Luquet - http://www.davidluquet.com/ Reprint August 2011 EPOCA In cooperation with: EUROPEAN COMMISSION Guide to best practices for ocean acidification research and data reporting edited by Ulf Riebesell 1, Victoria J. Fabry 2, Lina Hansson 3 and Jean-Pierre Gattuso 4 1 IFM-GEOMAR, Leibniz Institute of Marine Sciences, Kiel, Germany 2 California State University San Marcos, San Marcos, USA 3 Laboratoire d’Océanographie, CNRS-INSU and Université Pierre et Marie Curie, Villefranche-sur-mer, France 4 Coordinator of EPOCA, Laboratoire d’Océanographie, CNRS-INSU and Université Pierre et Marie Curie, Villefranche-sur-mer, France Directorate-General for Research and Innovation 2011 Environment EUR 24872 EN EUROPE DIRECT is a service to help you find answers to your questions about the European Union Freephone number (*): 00 800 6 7 8 9 10 11 (*) Certain mobile telephone operators do not allow access to 00 800 numbers or these calls may be billed LEGAL NOTICE Neither the European Commission nor any person acting on behalf of the Commission is responsible for the use which might be made of the following information.
    [Show full text]
  • A Survey of NOMA: Current Status and Open Research Challenges
    1 A Survey of NOMA: Current Status and Open Research Challenges Behrooz Makki, Senior Member, IEEE, Krishna Chitti, Ali Behravan and Mohamed-Slim Alouini, Fellow, IEEE Abstract—Non-orthogonal multiple access (NOMA) has been Different schemes have been proposed for NOMA includ- considered as a study-item in 3GPP for 5G new radio (NR). ing, power domain NOMA [3], SCMA (SC: sparse code) [4], However, it was decided not to continue with it as a work- [5], PDMA (PD: pattern division) [6], RSMA (RS: resource item, and to leave it for possible use in beyond 5G. In this paper, we first review the discussions that ended in such de- spread) [7], multi-user shared access (MUSA) [8], IGMA cision. Particularly, we present simulation comparisons between (IG: interleave-grid) [9], Welch-bound equality spread mul- the NOMA and multi-user multiple-input-multiple-output (MU- tiple access (WSMA) [10], [11], and IDMA (ID: interleave- MIMO), where the possible gain of NOMA, compared to MU- division) [12]. These techniques follow the superposition prin- MIMO, is negligible. Then, we propose a number of methods ciple and, along with differences in bit- and symbol-level to reduce the implementation complexity and delay of both uplink (UL) and downlink (DL) NOMA-based transmission, as NOMA implementation, the main difference among them is different ways to improve its efficiency. Here, particular attention the UEs’ signature design which is based on spreading, coding, is paid to reducing the receiver complexity, the cost of hybrid scrambling, or interleaving distinctness. automatic repeat request as well as the user pairing complexity.
    [Show full text]
  • Solving: the Role of Teaching Heuristics in Transfer of Learning
    Eurasia Journal of Mathematics, Science & Technology Education, 2016, 12(3), 655-668 Chess Training and Mathematical Problem- Solving: The Role of Teaching Heuristics in Transfer of Learning Roberto Trinchero University of Turin, ITALY Giovanni Sala University of Liverpool, UK Received 27 October 2015Revised 29 December 2015 Accepted 10 January 2016 Recently, chess in school activities has attracted the attention of policy makers, teachers and researchers. Chess has been claimed to be an effective tool to enhance children’s mathematical skills. In this study, 931 primary school pupils were recruited and then assigned to two treatment groups attending chess lessons, or to a control group, and were tested on their mathematical problem-solving abilities. The two treatment groups differed from each other on the teaching method adopted: The trainers of one group taught the pupils heuristics to solve chess problems, whereas the trainers of the other treatment group did not teach any chess-specific problem-solving heuristic. Results showed that the former group outperformed the other two groups. These results foster the hypothesis that a specific type of chess training does improve children’s mathematical skills, and uphold the idea that teaching general heuristics can be an effective way to promote transfer of learning. Keywords: chess; heuristics; mathematics; STEM education; transfer INTRODUCTION Recently, pupils’ poor achievement in mathematics has been the subject of debate both in the United States (Hanushek, Peterson, & Woessmann, 2012; Richland, Stigler, & Holyoak, 2012) and in Europe (Grek, 2009). The current market requires more graduates in Science, Technology, Engineering, and Mathematics (STEM) subjects than graduates in the humanities.
    [Show full text]