Informationsintegration

)HOL[1DXPDQQ

,QIRUPDWLRQVLQWHJUDWLRQ

$QWULWWVYRUOHVXQJ 0DL

+XPEROGW8QLYHUVLWlW]X%HUOLQ

0DWKHPDWLVFK1DWXUZLVVHQVFKDIWOLFKH)DNXOWlW,, ,QVWLWXWIU,QIRUPDWLN

Die digitalen Ausgaben der Öffentlichen Vorlesungen sind abrufbar über den Dokumenten- und Publikationsserver der Humboldt-Universität unter:

http://edoc.hu-berlin.de

Herausgeber:

Der Präsident der Humboldt-Universität zu Berlin Copyright: Alle Rechte liegen beim Verfasser Berlin 2004

Redaktion:

Birgit Eggert

Forschungsabteilung der Humboldt-Universität zu Berlin Unter den Linden 6

D–10099 Berlin Herstellung:

Forschungsabteilung der Humboldt-Universität zu Berlin Unter den Linden 6

D–10099 Berlin Heft 134

ISSN 1618-4858 (Printausgabe) ISSN 1618-4866 (Onlineausgabe) ISBN 3-86004-180-0

Gedruckt auf 100 % chlorfrei gebleichtem Papier

130_langensiepen_umschlag.fm Seite 2 Donnerstag, 4. März 2004 7:40 07

6HKUJHHKUWH'DPHQVHKUJHHKUWH+HUUHQ

ZLOONRPPHQ]XPHLQHU$QWULWWVYRUOHVXQJDP7DJGHU,QIRUPDWLN XQG]XP-DKUHVWDJPHLQHU%HUXIXQJDOV-XQLRUSURIHVVRUIU,Q IRUPDWLRQVLQWHJUDWLRQ DP ,QVWLWXW IU ,QIRUPDWLN KLHU LQ $G OHUVKRI

'DV )RUVFKXQJVWKHPD XQG GHU $QZHQGXQJVEHUHLFK GHU ,QIRUPDWLRQVLQWHJUDWLRQVLQGZHLWYHUEUHLWHW,QIRUPDWLRQVLQWHJ UDWLRQ YHUELUJW VLFK KLQWHU YLHOHQ 6\QRQ\PHQ ZLH HWZD ,QIRUPDWLRQVIXVLRQ'DWHQNRQVROLGLHUXQJ'DWHQUHLQLJXQJGDWD FOHDQVLQJ $QZHQGXQJVLQWHJUDWLRQ DSSOLFDWLRQ LQWHJUDWLRQ RGHU'DWHQYHUVFKPHO]XQJ(VJLEWKHXWHSUDNWLVFKNHLQNRPPHU ]LHOOYHUIJEDUHV,QIRUPDWLRQVV\VWHPGDVQLFKW]XPLQGHVWHLQLJH

*UXQGIlKLJNHLWHQGHU,QIRUPDWLRQVLQWHJUDWLRQEHKHUUVFKHQPXVV 'LHVHLWYLHOHQ-DKUHQHUIROJUHLFKLQ8QWHUQHKPHQHLQJHVHW]WHQ 'DWD:DUHKRXVHVVLQGHLQNODVVLVFKHV%HLVSLHOJUR‰HULQWHJULHU WHU,QIRUPDWLRQVV\VWHPH'LHVHU8PVWDQGHUJLEWVLFKLQHUVWHU/L QLHDXVGHP%HGDUIDOOHUXQGLQVEHVRQGHUHGHULQWHUQDWLRQDODJLH UHQGHQ8QWHUQHKPHQLKUHRIWZHOWZHLWYHUWHLOWHQ'DWHQEHVWlQGH ]XLQWHJULHUHQXQG]XNRQVROLGLHUHQ

'HU$XIEDXHLQHVLQWHJULHUWHQ,QIRUPDWLRQVV\VWHPVLVWIDVWLP PHUGHUJOHLFKH(LQH]HQWUDOHLQWHJULHUHQGH.RPSRQHQWHVWHOOW

$QZHQGHUQXQG$QZHQGXQJHQHLQHHLQKHLWOLFKH6FKQLWWVWHOOH]X GHQYHUWHLOWHQ'DWHQ]XU9HUIJXQJ>6/@)U$QZHQGHUEH VWHKWGLH6FKQLWWVWHOOHPHLVWDXVHLQHUGHNODUDWLYHQ$QIUDJHVSUD FKHZLH64/XQGJHJHEHQHQIDOOV6RIWZDUHWRROVGLHGHQ8PJDQJ PLWGHU6SUDFKHHUOHLFKWHUQ$QZHQGXQJHQJUHLIHQDXIGDVLQWH JULHUWH6\VWHPPLWWHOVYRUGHILQLHUWHU3URJUDPPLHUVFKQLWWVWHOOHQ RGHUDXFKPLWWHOVHLQHU$QIUDJHVSUDFKH]X,QGHP6\VWHPVLQG YLHOIlOWLJH,QIRUPDWLRQVTXHOOHQLQWHJULHUW.ODVVLVFKHUHODWLRQDOH 'DWHQEDQNV\VWHPH 'DWHLV\VWHPH :HE 6HUYLFHV +70/ )RU PXODUHGDWHQSURGX]LHUHQGH$QZHQGXQJHQXQGP|JOLFKHUZHLVH ZLHGHUXPDQGHUHLQWHJULHUWH,QIRUPDWLRQVV\VWHPH'LHVHQ6\VWH PHQLVWJHPHLQGDVVVLHRIWQLFKWVJHPHLQKDEHQ$QIUDJHQPV VHQLQXQWHUVFKLHGOLFKVWHQ6SUDFKHQJHVWHOOWZHUGHQ'DWHQZHU GHQLQKHWHURJHQHQ)RUPDWHQJHOLHIHUWGLH6WUXNWXUGHU'DWHQLVW

XQWHUVFKLHGOLFKXVZ$QIUDJHQDQGDV]HQWUDOHLQWHJULHUWH,QIRU PDWLRQVV\VWHPPVVHQJHHLJQHWEHUVHW]WXQG]HUOHJWXQGDQGLH MHZHLOLJHQ,QIRUPDWLRQVTXHOOHQZHLWHUJHOHLWHWZHUGHQ'LHVHUHL FKHQLKUH$QWZRUWHQ]XUFNDQGDVLQWHJULHUHQGH6\VWHPZHOFKH GLH5HVXOWDWHWUDQVIRUPLHUWLQWHJULHUWXQGGHP1XW]HUHLQKHLWOLFK GDUVWHOOW'HU9RUWHLOGLHVHV9HUIDKUHQVLVWGLH7DWVDFKHGDVVGHU 1XW]HUE]ZGLH$QZHQGXQJQLFKWDXIGLH,QIRUPDWLRQVTXHOOHQ HLQ]HOQ]XJUHLIHQPXVVXQGGDEHLGLH(UJHEQLVVHJOHLFKVDPSHU +DQGLQWHJULHUHQPXVV,QWHJULHUWH,QIRUPDWLRQVV\VWHPHVWHOOHQ DOVRHLQHHLQKHLWOLFKH6LFKWDXIHLQH9LHO]DKOKHWHURJHQHU'DWHQ TXHOOHQ]XU9HUIJXQJ

%HVRQGHUVHLQIDFKH%HLVSLHOHVROFKHU6\VWHPHVLQGGLHLP,QWHU QHWZHLWYHUEUHLWHWHQ0HWDVXFKPDVFKLQHQZLHGHU0HWD&UDZOHU 0HWDVXFKPDVFKLQHQ VSHLFKHUQ NHLQH HLJHQHQ ,QIRUPDWLRQHQ

EHU:HEVHLWHQVRQGHUQUHLFKHQ$QIUDJHQDQÄHFKWH³6XFKPD VFKLQHQZHLWHUGLHWDWVlFKOLFKJUR‰H0HQJHQGHV:RUOG:LGH :HE:::XQWHUVXFKWXQGLQGL]LHUWKDEHQ'LH(UJHEQLVOLVWHQ GHUHLQ]HOQHQ6XFKPDVFKLQHQZHUGHQYRQGHU0HWDVXFKPDVFKL QH]XVDPPHQJHVWHOOWXQGGHP1XW]HUHLQKHLWOLFKSUlVHQWLHUW'D EHLLVWHVIUGHQ1XW]HULG5XQHUKHEOLFKZHOFKH6XFKPDVFKLQH ZHOFKH7HLOHUJHEQLVVHOLHIHUWH:LFKWLJLVWGDVVHURGHUVLHQXU HLQH HLQ]LJH ::: $GUHVVH DQZlKOHQ PXVVWH QlPOLFK GLH

$GUHVVH GHU 0HWDVXFKPDVFKLQH XQG QXU HLQ HLQ]LJHV 0DO GLH 6XFKDQIUDJHIRUPXOLHUHQPXVVWH

1HEHQGHU9HUHLQIDFKXQJIU1XW]HUXQG$QZHQGXQJHQVLQGGLH 9RUWHLOHVROFKHU6\VWHPHGHU,QIRUPDWLRQVLQWHJUDWLRQPDQQLJIDO WLJ'DVLHPHKUHUHXQDEKlQJLJH,QIRUPDWLRQVTXHOOHQGHUJOHL FKHQ$UWLQWHJULHUHQN|QQHQVLFK1XW]HUJU|‰HUHE]ZEHVVHUH(U JHEQLVVHHUKRIIHQ%HLGHU6XFKHQDFKHLQHUEHVWLPPWHQ:HEVHLWH N|QQHQ0HWDVXFKPDVFKLQHQDXIGLHNRPELQLHUWHQ'DWHQPHQJHQ DOOHU6XFKPDVFKLQHQ]XJUHLIHQ±ZDVGLHHLQH6XFKPDVFKLQHQLFKW NHQQWNDQQEHLHLQHUGHUDQGHUHQ6XFKPDVFKLQHQHUIUDJWZHUGHQ 'HV:HLWHUHQN|QQHQVLFK1XW]HUXQG$QZHQGXQJHQGHWDLOUHL FKHUH,QIRUPDWLRQHQHUKRIIHQ9HUVFKLHGHQH,QIRUPDWLRQVTXHOOHQ VSHLFKHUQYHUVFKLHGHQH(LJHQVFKDIWHQYRQ2EMHNWHQGHUZLUNOL FKHQ:HOW%HLVSLHOVZHLVHNHQQWGLHHLQH6XFKPDVFKLQHGLH'D

WHLJU|‰HQDOOHU:HEVHLWHQHLQHDQGHUHNHQQWGLH6SUDFKHLQGHU GLH 6HLWH JHVFKULHEHQ ZXUGH =XVDPPHQJHQRPPHQ NDQQ HLQH 0HWDVXFKPDVFKLQHDOVRGHWDLOUHLFKHUH,QIRUPDWLRQHQELHWHQDOV GLHV HLQ]HOQH 6XFKPDVFKLQHQ N|QQHQ 6FKOLH‰OLFK ELHWHQ LQWH JULHUWH,QIRUPDWLRQVV\VWHPHHLQHJU|‰HUH*HQDXLJNHLWXQG=X YHUOlVVLJNHLWYRQ,QIRUPDWLRQHQ*HUDGHEHLGHU,QWHJUDWLRQYRQ DXWRQRPHQXQGSRWHQWLHOOXQ]XYHUOlVVLJHQ4XHOOHQLP,QWHUQHWLVW GLH9HULIL]LHUEDUNHLWYRQ,QIRUPDWLRQHQZLFKWLJ(LQLQWHJULHUWHV 6\VWHPNDQQ'DWHQYHUVFKLHGHQHU4XHOOHQYHUJOHLFKHQXQGDXI GLHVH:HLVH.RQIOLNWHHUNHQQHQ'LH$XIO|VXQJVROFKHU'DWHQ NRQIOLNWHLVWDOOHUGLQJVQLFKWHLQIDFKXQGEHGDUIPHLVWGHV(LQ JULIIVHLQHV([SHUWHQ%HLXQWHUVFKLHGOLFKHQ7LWHOQGHUJOHLFKHQ :HEVHLWHHWZDNDQQHLQ([SHUWHIHVWOHJHQGDVVVWHWVGHUOlQJHUH 7LWHOLPLQWHJULHUWHQ(UJHEQLVYHUZHQGHWZHUGHQVROO

'LH,QIRUPDWLRQVLQWHJUDWLRQELHWHWRIIHQVLFKWOLFKYLHOH9RUWHLOH GHUHQWHFKQLVFKH8PVHW]XQJLQWDWVlFKOLFKHQ6\VWHPHQLVWMHGRFK VHKUVFKZLHULJXQGIUGLH)RUVFKXQJYRQJU|‰WHP,QWHUHVVH (LQHHUVWH6FKZLHULJNHLWLVWEHUHLWVGLH(UVWHOOXQJHLQHVJOREDOHQ 'DWHQVFKHPDV IU GDV LQWHJULHUWH 6\VWHP (LQ 'DWHQVFKHPD NXU]6FKHPDJLEWDQZHOFKH6WUXNWXUGLH'DWHQKDEHQ'DV 6FKHPDHLQHU6XFKPDVFKLQHEHVDJWGDVVGLH'DWHQDOV7DEHOOH ]XU9HUIJXQJJHVWHOOWZHUGHQXQGGDVVMHGH=HLOHGHU7DEHOOH HLQHLQGL]LHUWH:HEVHLWHUHSUlVHQWLHUWXQGHLQHEHVWLPPWH0HQJH YRQ6SDOWHQKDWGLHEHLVSLHOVZHLVHGLH1DPHQÄ85/³Ä7LWHO³ Ä*U|‰H³XVZWUDJHQ:HQQHLQHDQGHUH6XFKPDVFKLQHHLQDQGH UHV6FKHPDEHQXW]WPXVVHQWVFKLHGHQZHUGHQZHOFKH(OHPHQWH LQGHPJHPHLQVDPHQJOREDOHQ6FKHPDYHUZHQGHWZHUGHQVROOHQ

=XVlW]OLFK]XGHU(QWZLFNOXQJGHVJOREDOHQ6FKHPDVPVVHQ%H ]LHKXQJHQ]ZLVFKHQGHPJOREDOHQ6FKHPDXQGGHQORNDOHQ6FKH PDWDEHLGHQ4XHOOHQGHILQLHUWZHUGHQ'LHVHEHLGHQ6FKZLHULJ NHLWHQ VLQG UHVSHNWLYH GLH 3UREOHPH GHU 6FKHPDLQWHJUDWLRQ

>%/1@XQGGHV6FKHPD0DSSLQJ>0++@(LQJOREDOHV6FKH PD VSLHJHOW GLH 6WUXNWXU GHU 'DWHQ LQ GHQ HLQ]HOQHQ ,QIRUPDWLRQVTXHOOHQZLGHUPXVVDEHU]XJOHLFK*HPHLQVDPNHL WHQGLHVHU6WUXNWXUHUNHQQHQXQG.RQIOLNWH]ZLVFKHQGHQ6WUXN WXUHQDXIO|VHQ.RQIOLNWHUHLFKHQYRQHLQIDFKHQ'LQJHQZLHXQ

WHUVFKLHGOLFKH)RUPDWHXPHLQ'DWXPGDU]XVWHOOHQ0DL YVELV]XNRPSOH[HQ3UREOHPHQZLHGLH8QWHUVFKHLGXQJ YRQ0lQQHUQXQG)UDXHQDQKDQGHLQHVHLQ]HOQHQ$WWULEXWVPer- sonen (Name, Adresse, Mann, Frau)DQKDQGYRQ HLQ]HOQHQ7DEHOOHQMänner (Name, Adresse)Frauen (Name, Adresse)RGHUDQKDQGYRQHLQ]HOQHQ$WWULEXWZHUWHQ Personen (Name, Adresse, Geschlecht (m/w)) (LQHZHLWHUH6FKZLHULJNHLWEHLGHU(LQULFKWXQJHLQHVLQWHJULHUWHQ ,QIRUPDWLRQVV\VWHPV LVW GLH hEHUVHW]XQJ XQG GDV :HLWHUOHLWHQ YRQ$QIUDJHQYRPLQWHJULHUWHQ6\VWHP]XGHQHLQ]HOQHQ,QIRU PDWLRQVTXHOOHQ'LHVLVWGDV3UREOHPGHU$QIUDJHEHDUEHLWXQJ 9HUVFKLHGHQH 4XHOOHQ VSUHFKHQ YHUVFKLHGHQH XQG YHUVFKLHGHQ PlFKWLJH6SUDFKHQ:lKUHQGEHLVSLHOVZHLVHHLQH6XFKPDVFKLQH OHGLJOLFKHLQ+70/)RUPXODU]XU9HUIJXQJVWHOOWNDQQHLQHDQ GHUH6XFKPDVFKLQHHLQHQNRPSOH[HQ:HE6HUYLFHDOV6FKQLWW VWHOOHDQELHWHQ'DUEHUKLQDXVN|QQWHEHLVSLHOVZHLVHGLHHUVWH 6XFKPDVFKLQHRSWLRQDOHLQH(LQVFKUlQNXQJGHU(UJHEQLVVHDXI 'HXWVFKH:HEVHLWHQDQELHWHQHLQHDQGHUH6XFKPDVFKLQHN|QQWH VROFKH6HOHNWLRQHQQLFKWEHKHUUVFKHQ(LQH0HWDVXFKPDVFKLQH PXVVDOVRHLQH6XFKDQIUDJH]XPHLQHQDXWRPDWLVFKLQHLQ+70/

)RUPXODUHLQWUDJHQXQG]XPDQGHUHQHLQHQ:HE6HUYLFHPLWHLQHU LQGHU%HGHXWXQJJOHLFKHQ$QIUDJHDXIUXIHQ+DWGHU1XW]HUHLQH 6HOHNWLRQVP|JOLFKNHLWDXVJHQXW]WPXVVDXFKGLHVHDXWRPDWLVFK DQGLHHLQH6XFKPDVFKLQHZHLWHUJHUHLFKWZHUGHQ'DGLHDQGHUH 6XFKPDVFKLQH6HOHNWLRQQLFKWEHKHUUVFKWPXVVGDVLQWHJULHUWH 6\VWHPGLHVHQ0DQJHONRPSHQVLHUHQXQGVHOEVWGLH6HOHNWLRQIU GHUHQ(UJHEQLVVHGXUFKIKUHQ'LHVH3UREOHPHODVVHQVLFKUHODWLY OHLFKWIRUPDOLVLHUHQGHUHQDXWRPDWLVFKH/|VXQJZRUDXIZLUKLHU QLFKWHLQJHKHQLVWMHGRFKDOOJHPHLQYRQJUR‰HU6FKZLHULJNHLW 1DFKGHU/|VXQJGLHVHU3UREOHPHEHLGHU(LQULFKWXQJHLQHVLQWH JULHUWHQ,QIRUPDWLRQVV\VWHPVVWHOOHQVLFK]XU/DXI]HLWGHV6\V WHPV ]ZHL ZHLWHUH ZLFKWLJH 3UREOHPH (UVWHQV PXVV DXWRPD WLVFK HUNDQQW ZHUGHQ ZHOFKH GHU MHZHLOLJHQ (UJHEQLVVH GHU HLQ]HOQHQ,QIRUPDWLRQVTXHOOHQLQWHJULHUWZHUGHQVROOHQXQGHV PXVVEHVWLPPWZHUGHQZLHGLH(UJHEQLVVHLQWHJULHUWZHUGHQVRO OHQ (LQH 0HWDVXFKPDVFKLQH PXVV DOVR HUNHQQHQ GDVV ]ZHL

6XFKPDVFKLQHQ(UJHEQLVVHEHUGLHJOHLFKH:HEVHLWHOLHIHUQ,Q GHU5HJHOIlOOWGLHVOHLFKWGD:HEVHLWHQDQKDQGLKUHU:HEDGUHV VH85/HLQGHXWLJLGHQWLIL]LHUWZHUGHQN|QQHQ,QDQGHUHQ$Q ZHQGXQJVGRPlQHQZLHHWZDEHL$GUHVVGDWHQLVWHLQHVROFKHLQ GHXWLJH,GHQWLILNDWLRQQLFKWLPPHUP|JOLFK'LHVLVWGDV3UREOHP GHU'XSOLNDWHUNHQQXQJ=ZHLWHQVPXVVVSH]LIL]LHUWZHUGHQZLH 'DWHQ LQWHJULHUW ZHUGHQ GLH ]XYRU DOV ]XVDPPHQJHK|ULJ DOV 'XSOLNDWHHUNDQQWZXUGHQ,QVEHVRQGHUHPVVHQ:LGHUVSUFKH LQGHQ'DWHQDXIJHO|VWXQGGDV)HKOHQYRQ'DWHQHUNDQQWZHU GHQ'LHVLVWGDV3UREOHPGHU'DWHQIXVLRQ

'LHVH9RUJlQJHGLH]XU/DXI]HLWGHV6\VWHPVGXUFKJHIKUWZHU GHQ PVVHQ ]XGHP VR RSWLPLHUW ZHUGHQ GDVV ]ZLVFKHQ GHP 6WHOOHQGHU$QIUDJHXQGGHP$Q]HLJHQGHVLQWHJULHUWHQ(UJHE QLVVHVP|JOLFKVWZHQLJ=HLWYHUJHKW(LQH0HWDVXFKPDVFKLQHLVW QXUGDQQHUIROJUHLFKZHQQVLH(UJHEQLVVHLQQHUKDOEZHQLJHU6H NXQGHQP|JOLFKVWLQZHQLJHUDOVHLQHU6HNXQGHDQ]HLJHQNDQQ 'LHVLVWGDV3UREOHPGHU$QIUDJHRSWLPLHUXQJ

=XOHW]WLQGLHVHQHLQOHLWHQGHQ:RUWHQP|FKWHLFKQRFKDXIGDV 3UREOHPGHU9LVXDOLVLHUXQJDXIPHUNVDPPDFKHQ2KQHVSH]LDOL VLHUWH 9LVXDOLVLHUXQJVWHFKQLNHQ VLHKW PDQ ,QIRUPDWLRQHQ QLFKW DQGDVVVLHYRQYHUVFKLHGHQHQ4XHOOHQ]XVDPPHQJHWUDJHQXQG LQWHJULHUWZXUGHQGDVVVLHPLWYHUVFKLHGHQHQ=XYHUOlVVLJNHLWV PHUNPDOHQEHKDIWHWVLQGXQGGDVVVLHP|JOLFKHUZHLVHGDV(UJHE QLVHLQHVJHO|VWHQ'DWHQNRQIOLNWHVVLQG:lKUHQGGLHVH=XVDW]

LQIRUPDWLRQHQIUJHZLVVH$QZHQGXQJHQQLFKWUHOHYDQWVLQGGHU W\SLVFKH1XW]HUHLQHU0HWDVXFKPDVFKLQHLVWJHJHQEHUGHU+HU NXQIWGHU'DWHQXQNULWLVFKLVWHVLQYLHOHQ)lOOHQQ|WLJVROFKH 0HWDGDWHQ]XVDPPHOQXQGJHHLJQHWGDU]XVWHOOHQ

,QGLHVHU9RUOHVXQJEHVFKUHLEHLFK±LQHLQHUGHP'DWHQIOXVVYRQ GHQ,QIRUPDWLRQVTXHOOHQ]XP1XW]HUHQWVSUHFKHQGHQ5HLKHQIRO JH ± YHUVFKLHGHQH /|VXQJHQ IU GLH 3UREOHPH GHV 6FKHPD 0DSSLQJVGLHGLHVWUXNWXUHOOH+HWHURJHQLWlWGHU4XHOOHQEHU ZLQGHQGHU'XSOLNDWHUNHQQXQJXP'DWHQEHUJOHLFKH'LQJH UHDOZRUOGREMHFWVDOVVROFKH]XHUNHQQHQXQGGHU'DWHQIXVLRQ XP]XVSH]LIL]LHUHQZLH:LGHUVSUFKHLQGHQ'DWHQJHO|VWZHU

GHQ VROOHQ ,GHHQ ]XU$QIUDJHRSWLPLHUXQJ XQG9LVXDOLVLHUXQJ ZHUGHQJHJHQ(QGHQXUNXU]HUZlKQW

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lFKOLFK EHGLHQHQVLFKYLHOH6RIWZDUHWRROVGLHVHU0HWDSKHUXQGYLVXDOL VLHUHQ0DSSLQJVDOVHLQH0HQJHYRQ3IHLOHQ0DSSLQJVXQGLKUH .RUUHVSRQGHQ]HQZHUGHQYHUZHQGHWXP'DWHQHLQHU'DWHQTXHO OHVR]XWUDQVIRUPLHUHQGDVVLKUH6WUXNWXUGHP=LHOVFKHPDHQW VSULFKW ,Q HLQHP LQWHJULHUWHQ ,QIRUPDWLRQVV\VWHP VWHOOHQ GLH 6FKHPDWDGHU,QIRUPDWLRQVTXHOOHQGLH4XHOOVFKHPDWDGDU=LHO VFKHPD LVW GDV JOREDOH 6FKHPD LP LQWHJULHUWHQ 6\VWHP VHOEVW 6WHOOWHLQ1XW]HUHLQH$QIUDJHDQGDVJOREDOH6FKHPDPVVHQ GLHLQGHQ4XHOOHQYRUOLHJHQGHQ'DWHQJHPl‰GHU6FKHPD0DS SLQJVWUDQVIRUPLHUWZHUGHQ

8P 6FKHPD 0DSSLQJV HLQVHW]HQ ]X N|QQHQ EHGDUI HV ]ZHLHU 6FKULWWH'HP(UVWHOOHQGHV0DSSLQJVGXUFKHLQHQ([SHUWHQXQG GHU,QWHUSUHWDWLRQGHV0DSSLQJVDOV'DWHQWUDQVIRUPDWLRQ:lK UHQGGHUHUVWH6FKULWWZHJHQVHLQHUVFKZLHULJHQ6HPDQWLNYHUPXW OLFKQLHPDOVRKQHPHQVFKOLFKH+LOIHJHWDQZHUGHQNDQQLVWGLH

$XWRPDWLVLHUXQJJHUDGHGHV]ZHLWHQ6FKULWWHVHLQHHQRUPH(U OHLFKWHUXQJIU(QWZLFNOHU2IWVLQGGLH'DWHQWUDQVIRUPDWLRQHQ VHKUNRPSOH[H$QIUDJHQRGHU3URJUDPPHGLHYLHOH6HLWHQXP IDVVHQXQGYRQ+DQGNDXPIHKOHUIUHLHQWZLFNHOWZHUGHQN|QQHQ

$XFKZHQQHVLQGHU)RUVFKXQJHLQLJH%HVWUHEXQJHQJLEWGLH(U VWHOOXQJHLQHV0DSSLQJV]XDXWRPDWLVLHUHQZLUNRPPHQVSlWHU ]XGLHVHP6FKHPD0DWFKLQJJHQDQQWHQ7KHPDLVWVLHLQGHU5H

JHO'RPlQHQH[SHUWHQYRUEHKDOWHQ8QWHUVWW]WGXUFK6RIWZDUH WRROV]LHKHQ([SHUWHQ/LQLHQYRP4XHOOVFKHPD]XP=LHOVFKHPD XQGHUVWHOOHQVRHLQ]HOQH.RUUHVSRQGHQ]HQ6RZUGHEHLVSLHOV ZHLVHGHU([SHUWHGHUHLQ0DSSLQJ ]ZLVFKHQHLQHPLQHQJOL VFKHU6SUDFKHYHUIDVVWHQ6FKHPDHLQHU6XFKPDVFKLQHXQGGHP 6FKHPD HLQHU GHXWVFKHQ 0HWDVXFKPDVFKLQH HUVWHOOW HLQH /LQH ]ZLVFKHQ GHP Ädescription³)HOG GHU 6XFKPDVFKLQH XQG GHPÄKurzfassung³)HOG]LHKHQXQGVRGHILQLHUHQGDVVde- scription'DWHQLQGDVKurzfassung)HOGEHUQRPPHQ ZHUGHQ VROOHQ .RPSOH[HUH 0DSSLQJV N|QQHQ PHKUHUH )HOGHU NRPELQLHUHQvornameXQGnachnameLQGHU4XHOOH]X1DPH LQ HLQHP =LHOVFKHPD IU 3HUVRQHQGDWHQ XQG )XQNWLRQHQ DXI .RUUHVSRQGHQ]HQVSH]LIL]LHUHQ8PUHFKQXQJYRQDollarDXI EuroLQGHU)LQDQ]GRPlQH

6FKHPD 0DWFKLQJ 9HUIDKUHQ XQWHUVWW]HQ ([SHUWHQ EHL GLHVHU

$UEHLW6LHHUPLWWHOQXQWHUDOOHQ0|JOLFKNHLWHQGLHZDKUVFKHLQ OLFKVWHQ.RUUHVSRQGHQ]HQXQGVFKODJHQGLHVHYRU'HU([SHUWH NDQQ QXQ GLHVH 9RUVFKOlJH DQQHKPHQ RGHU DEOHKQHQ 6FKHPD 0DWFKLQJ9HUIDKUHQVWHKHQPHKUHUH5HVVRXUFHQ]XU9HUIJXQJ XP9RUVFKOlJH]XEHDUEHLWHQ>5%@6FKHPDEDVLHUWH9HUIDK UHQYHUJOHLFKHQGLH1DPHQYRQ$WWULEXWHQXQGVFKODJHQ.RUUHV SRQGHQ]HQYRUZHQQVLFKGLH1DPHQLQ4XHOOXQG=LHOVFKHPD lKQHOQ6RZUGHEHLVSLHOVZHLVHHLQH.RUUHVSRQGHQ]]ZLVFKHQ HLQHPHQJOLVFKHQÄWLWOH³XQGGHPGHXWVFKHQÄ7LWHO³$WWULEXWDX WRPDWLVFK HQWGHFNW 'LH bKQOLFKNHLW YRQ ÄELUWKGD\³ XQG Ä*H EXUWVWDJ³ZUGHVRMHGRFKQLFKWHUNDQQW+LHUKHOIHQ,QVWDQ]ED VLHUWH6FKHPD0DWFKLQJ9HUIDKUHQGLHGLH'DWHQGHU6FKHPDWD DQDO\VLHUHQ6RZUGHHUNDQQWGDVVGLH'DWHQZHUWHXQWHUÄELUWK GD\³XQGÄ*HEXUWVWDJ³lKQOLFKH(LJHQVFKDIWHQKDEHQYLHOH=DK OHQGLHPLW«EHJLQQHQlKQOLFKH/lQJHGHU(LQWUlJHXVZ 6WUXNWXUEDVLHUWH6FKHPD0DWFKLQJ9HUIDKUHQKLQJHJHQDQDO\

VLHUHQGHQ$XIEDXGHU6FKHPDWDXQGVFKODJHQ.RUUHVSRQGHQ]HQ ]ZLVFKHQ$WWULEXWHQYRUGLHYRQlKQOLFKHQ$WWULEXWHQXQG7D EHOOHQÄXPJHEHQ³VLQG+\EULGXQG0LVFKYHUIDKUHQVFKOLH‰OLFK NRPELQLHUHQGLHREHQJHQDQQWHQ9HUIDKUHQXQGHU]LHOHQPHLVW GLH EHVWHQ (UJHEQLVVH 'LH (IIHNWLYLWlW GHU 6FKHPD 0DWFKLQJ 9HUIDKUHQZLUGGDUDQJHPHVVHQZLHRIW9RUVFKOlJHQLFKWDEJH

OHKQWZXUGHQSUHFLVLRQXQGZHOFKHU$QWHLODOOHUZDKUHQ.RU UHVSRQGHQ]HQ EHUKDXSW JHIXQGHQ ZLUG UHFDOO ,Q JQVWLJHQ )lOOHQ OLHJHQ GLHVH =DKOHQ IU QHXHUH 9HUIDKUHQ EHL FD 'KYLHUYRQIQI9RUVFKOlJHQVLQGNRUUHNWXQGQXUDOOHU .RUUHVSRQGHQ]HQ PVVHQYRQ +DQG JHIXQGHQ XQG VSH]LIL]LHUW ZHUGHQ,PhEULJHQZXUGHQRFKNHLQ9HUIDKUHQHQWZLFNHOWGDV NRPSOH[HUHDOVGLHHLQIDFKVWHQ.RUUHVSRQGHQ]HQHQWGHFNW ,VWHLQ6FKHPD0DSSLQJ]ZLVFKHQ]ZHL6FKHPDWDHUVWHOOWJLOWHV HQWVSUHFKHQGGLHVHV0DSSLQJVGLH'DWHQGHU,QIRUPDWLRQVTXHOOH ]XWUDQVIRUPLHUHQ>3RSD@,QGHU5HJHOZLUGDOV7UDQVIRUPD WLRQVVSUDFKHHLQH$QIUDJHVSUDFKHZLH64/;6/7RGHU;4XHU\

JHZlKOW'LHVH6SUDFKHQKDEHQGHQ9RUWHLOGDVVVLHYRQYLHOHQ 'DWHQEDQNPDQDJHPHQWV\VWHPHQYHUVWDQGHQXQGRSWLPLHUWZHU GHQ'LH8PZDQGOXQJHLQHV6FKHPD0DSSLQJVLQHLQH'DWHQ WUDQVIRUPDWLRQVDQIUDJHQHQQWPDQGLH,QWHUSUHWDWLRQGHV0DS SLQJV :LH GLH % H]HLFKQXQJ VFKRQ YHUPXWHQ OlVVW JLEW HV ]X HLQHP0DSSLQJPHKUDOVHLQH,QWHUSUHWDWLRQ'DVHLQIDFKH(U VWHOOHQ HLQLJHU .RUUHVSRQGHQ]HQ OlVVW YLHOH 0|JOLFKNHLWHQ GHU 'DWHQWUDQVIRUPDWLRQRIIHQ6WHOOHQ6LHVLFKLQGHU,QIRUPDWLRQV TXHOOH]ZHL7DEHOOHQYRU(LQH7DEHOOHEHUÄProfessoren³ PLW LKUHQ 1DPHQ XQG HLQH DQGHUH 7DEHOOH EHU ÄKurse³ PLW GHP7LWHOGHV.XUVHVXQGHLQHP9HUZHLVDXIGHQOHKUHQGHQ3UR IHVVRU 6WHOOHQ 6LH VLFK GHV :HLWHUHQ HLQH 7DEHOOH QDPHQV ÄLehrt³ LP =LHOVFKHPD YRU LQ GHU 3URIHVVRUHQQDPHQ XQG .XUVQDPHQ JHVSHLFKHUW ZHUGHQ N|QQHQ =ZLVFKHQ 4XHOOH XQG

=LHOKDEHHLQ([SHUWHGLHEHLGHQRIIHQVLFKWOLFKHQ.RUUHVSRQGHQ ]HQVSH]LIL]LHUWQlPOLFK

ProfessorenName→LehrtProfessorenname! KurseTitel→LehrtKursname!

(LQHQDLYH,QWHUSUHWDWLRQGLHVHQ0DSSLQJVZUGHDOOH3URIHVVR UHQQDPHQLQGLH=LHOWDEHOOHEHUWUDJHQXQGXQDEKlQJLJGDYRQ DOOH.XUVWLWHOLQGLHJOHLFKH7DEHOOHVFKUHLEHQ$OOHUGLQJVZUGH VRGLH%H]LHKXQJ]ZLVFKHQ3URIHVVRUHQXQGGHQ.XUVHQYHUOR UHQ0DQN|QQWHGHU=LHOWDEHOOHQLFKWHQWQHKPHQZHOFKHU3UR IHVVRUZHOFKHQ.XUVOHKUW(LQHYHUPHLQWOLFKEHVVHUH,QWHUSUHWD

WLRQ ZUGH GLH 9HUZHLVH LQ GHU ,QIRUPDWLRQVTXHOOH YRQ GHU .XUVH7DEHOOHDXIGLH3URIHVVRUHQ7DEHOOHDXVQXW]HQXQGVRHQW VSUHFKHQGH 3URIHVVRU.XUV 3DDUH LQ GLH =LHOWDEHOOH HLQWUDJHQ :DVJHVFKLHKWMHGRFKPLW3URIHVVRUHQGLH]XU]HLWNHLQH.XUVH OHKUHQ"(LQH,QWHUSUHWDWLRQGHV0DSSLQJVZUGHVROFKH3URIHV VRUHQLJQRULHUHQGHQQVFKOLH‰OLFKJHKWHVMDXP.XUVHHLQHDQ GHUH,QWHUSUHWDWLRQZUGHDXFK3URIHVVRUHQLP)UHLVHPHVWHUEH UFNVLFKWLJHQ GHQQ VFKOLH‰OLFK VROOHQ NHLQH 'DWHQ YHUORUHQ JHKHQ'LHJOHLFKHQ)UDJHQJHOWHQDXFKIU.XUVHGLHQLFKWYRQ 3URIHVVRUHQVRQGHUQYRQ$VVLVWHQWHQJHOHKUWZHUGHQ

$XVHLQHPGHQNEDUHLQIDFKHQ6]HQDULRPLWLQVJHVDPWGUHL7DEHO OHQXQGQXU]ZHL.RUUHVSRQGHQ]HQNRQQWHQZLUEHUHLWVIQIYHU VFKLHGHQH,QWHUSUHWDWLRQHQKHUOHLWHQ'LHVH$Q]DKOVWHLJWH[SR QHQWLHOO PLW GHU =DKO GHU EHWHLOLJWHQ 7DEHOOHQ XQG GHU

%H]LHKXQJHQ]ZLVFKHQLKQHQ8PGLHVHU0HQJH+HUU]XZHUGHQ YHUZHQGHQ$OJRULWKPHQ+HXULVWLNHQXPGLHZDKUVFKHLQOLFKVWHQ ,QWHUSUHWDWLRQHQ DXV]XZlKOHQ XQG DQKDQG YRQ%HLVSLHOHQ GHP ([SHUWHQDQ]XELHWHQ'LHVH+HXULVWLNHQYHUZHUIHQEHLVSLHOVZHL VHVROFKH,QWHUSUHWDWLRQHQGLHOHHUH(UJHEQLVVHLP=LHOVFKHPD HU]HXJHQRGHUGLHLQGHU'DWHQTXHOOHYRUKDQGHQH%H]LHKXQJHQ ]ZLVFKHQ'DWHQEHLGHU7UDQVIRUPDWLRQ]HUVW|UHQ>0++@

6FKHPD0DSSLQJVXQGGHUHQ,QWHUSUHWDWLRQZHUGHQEHLP$XIEDX HLQHVLQWHJULHUWHQ,QIRUPDWLRQVV\VWHPVYHUZHQGHW:LUZHQGHQ XQVQXQHLQHPEHUHLWVDXIJHEDXWHQXQGODXIHQGHQ6\VWHP]XGDV 1XW]HUDQIUDJHQDQGDVJOREDOH6FKHPDEHDQWZRUWHWLQGHP'D WHQGHU'DWHQTXHOOHDEJHUXIHQWUDQVIRUPLHUWXQGLQWHJULHUWZHU GHQ'DEHLNRPPWHVRIWYRUGDVVPHKUHUH4XHOOHQ,QIRUPDWLR QHQ EHU JOHLFKH 5HDOZHOW2EMHNWH VSHLFKHUQ 0DQ VDJW LQ VROFKHQ)lOOHQGDVVGLH4XHOOHQVLFKEHUODSSHQ'LHhEHUODS SXQJNDQQVRZRKOH[WHQVLRQDODOVDXFKLQWHQVLRQDOVHLQ=ZHL 4XHOOHQEHUODSSHQVLFKH[WHQVLRQDOZHQQVLH'DWHQEHUJOHL FKH'LQJHVSHLFKHUQ6LHEHUODSSHQVLFKLQWHQVLRQDOZHQQVLH JOHLFKH'DWHQEHUGLH'LQJHVSHLFKHUQ=ZHL6XFKPDVFKLQHQ GLHEHLGH'DWHQEHUGLH:HEVHLWHwww.ibm.comJHVSHLFKHUW KDEHQEHUODSSHQVLFKH[WHQVLRQDO'LHhEHUODSSXQJGHU6XFK PDVFKLQHQ EHVWHKW DOVR DXV GHP Ä'LQJ³www.ibm.com XQG

YHUPXWOLFKYLHOHQDQGHUHQ:HEVHLWHQ'LHhEHUODSSXQJLVWQLFKW YROOVWlQGLJZHQQEHLGH6XFKPDVFKLQHQDXFK6HLWHQVSHLFKHUQ GLHGLHMHZHLOVDQGHUH6XFKPDVFKLQHQLFKWVSHLFKHUW:HQQEHLGH 6XFKPDVFKLQHQ]XGHPEHLVSLHOVZHLVHGHQ7LWHOXQGGLH*U|‰H GHU :HEVHLWH VSHLFKHUQ EHUODSSHQ VLH VLFK DXFK LQWHQVLRQDO 'LH hEHUODSSXQJ EHVWHKW DXV GHQ EHLGHQ $WWULEXWHQ 7LWHO XQG

*U|‰H'LH6XFKPDVFKLQHQN|QQHQGDUEHUKLQDXVMHZHLOVDQGH UH(LJHQVFKDIWHQYRQ:HEVHLWHQVSHLFKHUQ'LHZHVHQWOLFKH$XI JDEH GHU ,QIRUPDWLRQVLQWHJUDWLRQ LVW HV PLW GLHVHQ $UWHQ GHU hEHUODSSXQJXP]XJHKHQ0HWKRGHQGHU'XSOLNDWHUNHQQXQJHQW GHFNHQGLHH[WHQVLRQDOHhEHUODSSXQJXQG0HWKRGHQGHU'DWHQ IXVLRQO|VHQ3UREOHPHGLHVLFKGXUFKGLHLQWHQVLRQDOHhEHUODS SXQJHUJHEHQ

%HLHLQHUJHJHEHQHQ'DWHQPHQJHLQGHU5HJHOHLQH7DEHOOHLVW HVGLH.HUQDXIJDEHGHU'XSOLNDWHUNHQQXQJDOOH'XSOLNDWHLQQHU KDOEGLHVHU7DEHOOH]XILQGHQ'DEHLPVVHQ]ZHLZHVHQWOLFKH +UGHQEHUZXQGHQZHUGHQ'LHHUVWH+UGHLVWGLHDXWRPDWL VFKH (UNHQQXQJ YRQ 'XSOLNDWHQ >+6@ 'HVKDOE ZLUG JU|‰WH 6RUJIDOWLQGLH(QWZLFNOXQJHLQHVbKQOLFKNHLWVPD‰HVJHVWHFNW ZHOFKHV GLH bKQOLFKNHLW ]ZHLHU =HLOHQ HLQHU 7DEHOOH EHPLVVW 6LQGVLFK]ZHL=HLOHQKLQUHLFKHQGlKQOLFKJHOWHQVLHDOV'XSOL NDWH(LQHLQIDFKHV9HUIDKUHQ]XU'XSOLNDWHUNHQQXQJZlUHHVDO VRMHGH=HLOHPLWMHGHUDQGHUHQ]XYHUJOHLFKHQXQGKLQUHLFKHQG lKQOLFKH 3DDUH DOV 'XSOLNDWH ]X PDUNLHUHQ 'LHVHV 9HUIDKUHQ PDFKW GLH ]ZHLWH +UGH GHXWOLFK %HL W\SLVFKHQ 7DEHOOHQ PLW PHKUDOV0LOOLRQ(LQWUlJHQZlUHQEHU%LOOLRQ9HUJOHLFKHQ|

WLJXPDOOH'XSOLNDWH]XHUNHQQHQ(UVFKZHUHQGNRPPWKLQ]X GDVVVFKRQHLQHLQ]LJHU9HUJOHLFKPLWWHOVGHVbKQOLFKNHLWVPD‰HV RIWHLQHNRPSOH[H%HUHFKQXQJGDUVWHOOW'HVZHJHQZHUGHQ$O JRULWKPHQHQWZLFNHOWGLHGXUFKJHVFKLFNWH3DUWLWLRQLHUXQJGHU 'DWHQGLH$Q]DKOGHU9HUJOHLFKHGUDVWLVFKUHGX]LHUHQ

$OV bKQOLFKNHLWVPD‰ IU =HLFKHQNHWWHQ XQG $WWULEXWZHUWH KDW VLFKGLHHGLWGLVWDQFHEHZlKUW>:DJ@6LHEH]HLFKQHWGLHPLQL PDOH $Q]DKO DQ (LQIJH /|VFK XQG bQGHUXQJVRSHUDWLRQHQ GLHQ|WLJVLQGXPGHQ7H[WGHUHLQHQ=HLOHLQGHQ7H[WGHUDQGH UHQ=HLOHXP]XZDQGHOQ8PEHLVSLHOVZHLVHGDV:RUWÄKDVH³LQ

GDV:RUWÄUDVHQ³XP]XZDQGHOQVLQGPLQGHVWHQV]ZHL2SHUDWLR QHQQ|WLJGDVÄK³LQÄU³lQGHUQXQGDP(QGHHLQÄQ³HLQIJHQ GLHHGLWGLVWDQFH GHUEHLGHQ:RUWHLVW PLWKLQ-H NOHLQHUGLH HGLWGLVWDQFHGHVWRlKQOLFKHUVLQGGLH:RUWH'LHHGLWGLVWDQFH IlQJWDXIKHUYRUUDJHQGH:HLVHHLQHGHUW\SLVFKHQ8UVDFKHQIU 'XSOLNDWHHLQ7LSSIHKOHU:HUGHQEHLVSLHOVZHLVHGLH'DWHQHL QHV .XQGHQ LQ HLQ 'DWHQEDQNV\VWHP HLQJHWUDJHQ XQG YHUWLSSW VLFK GHU $QJHVWHOOWH EHL GHU (LQJDEH HU WLSSW DXV 9HUVHKHQ Ä+HRQ]³ VWDWW Ä+HLQ]³ RGHU DXV 8QZLVVHQKHLW Ä0HLHU³ VWDWW Ä0D\HU³ NDQQ GDV 'DWHQEDQNV\VWHPQLFKWIHVWVWHOOHQREGHU .XQGHEHUHLWVLP6\VWHPHLQJHWUDJHQZDU:XUGH+HUU+HLQ]

0D\HUVFKRQHLQPDOHUIDVVWLVWGLHHGLWGLVWDQFHGHUEHLGHQ(LQ WUlJHÄ+HLQ]0D\HU³XQGÄ+HRQ]0HLHU³JHULQJQlPOLFKXQG VLHZUGHQDOV'XSOLNDWHHUNDQQW$QGHUH'XSOLNDWHVLQGVFKZLH ULJHU]XHUNHQQHQ)HKOHQGH'DWHQYHUIlOVFKHQGLH(UJHEQLVVH HLQ 8P]XJ HLQHU 3HUVRQ lQGHUW GHQ 7DEHOOHQHLQWUDJ DQ YLHOHQ 6WHOOHQXVZ8PVROFKH'XSOLNDWH]XHUNHQQHQPXVVPDQGDV DOOJHPHLQHHGLWGLVWDQFH0D‰PLW:LVVHQEHUGLH(LJHQVFKDIWHQ GHU$QZHQGXQJVGRPlQHDQUHLFKHUQ(LQHJlQJLJH0HWKRGHLVW HVHLQH0HQJHYRQ5HJHOQDXI]XVWHOOHQGLHbKQOLFKNHLWHQHLQ ]HOQHU )HOGHU NRPELQLHUHQ (LQH 5HJHO N|QQWH HWZD ODXWHQ Ä:HQQ1DFKQDPH*HEXUWVWDJXQG*HEXUWVRUWJOHLFKVLQGXQG ]XVlW]OLFK GLH 9RUQDPHQ KLQUHLFKHQG lKQOLFK VLQG KDQGHOW HV VLFKXP'XSOLNDWH³6ROFKHUPD‰HQDXIJHVWHOOWH5HJHOQZHUGHQ UHLKXPJHSUIWELVHLQHJUHLIWRGHUELVDOOHSURELHUWZXUGHQXQG NHLQHGHQ+LQZHLVDXI'XSOLNDWHOLHIHUWH)UEHVWLPPWH'DWHQ W\SHQVLQGDQGHUHbKQOLFKNHLWVPD‰HHUIROJUHLFKHU)UOlQJHUH 7H[WGDWHQ ZHUGHQ 0D‰H EDVLHUHQG DXI 7),') %HUHFKQXQJHQ HQWZLFNHOW >%5@ IU QXPHULVFKH 'DWHQ ZHUGHQ QXPHULVFKH

$EVWDQGVPD‰HYHUZHQGHW

6HLW HLQLJHQ-DKUHQ JHZLQQW GDV;0/'DWHQPRGHOODQJUR‰HU 3RSXODULWlWLQVEHVRQGHUHIU'DWHQGLHEHUGDV,QWHUQHWDXVJH WDXVFKWZHUGHQ;0/'DWHQN|QQHQLP8QWHUVFKLHG]XUHODWLR QDOHQ'DWHQJHVFKDFKWHOWZHUGHQ=%N|QQHQGLH.XUVHHLQHV 3URIHVVRUV XQWHUKDOE HLQHV 6WUXNWXUHOHPHQWV Ä3URIHVVRU³ JH VFKDFKWHOWZHUGHQ'LHVH6FKDFKWHOXQJHUVFKZHUWGLH'XSOLND WHUNHQQXQJGD]XQlFKVWHLQPDOHQWVFKLHGHQZHUGHQPXVVDXI

ZHOFKHU6FKDFKWHOXQJVHEHQHEHUKDXSWQDFK'XSOLNDWHQJHVXFKW ZHUGHQVROO$QGHUHUVHLWVN|QQHQWLHIHUJHVFKDFKWHOWH.LQGHOH PHQWHJXWH+LQZHLVHDXI'XSOLNDWHOLHIHUQ

:LUZHQGHQXQVQXQGHU]ZHLWHQ+UGHGHU'XSOLNDWHUNHQQXQJ ]XQlPOLFKGHUSRWHQWLHOOVHKUJUR‰HQ$Q]DKOYRQ9HUJOHLFKHQ GLHQ|WLJVLQGXPDOOH'XSOLNDWHLQHLQHU'DWHQPHQJH]XILQGHQ :LHHLQJDQJVEHUHLWVHUZlKQWLVWHVHLQHEOLFKH0HWKRGHGLH 'DWHQVR]XSDUWLWLRQLHUHQGDVV'XSOLNDWHQXUQRFKLQQHUKDOEHL QHU3DUWLWLRQJHVXFKWZHUGHQPVVHQ'LHVRJHQDQQWHVRUWHG QHLJKERUKRRG0HWKRGHLVWHLQJXWHVXQGHLQIDFKHV%HLVSLHOHLQHV VROFKHQ$OJRULWKPXV>+6@%HYRUGLHHLJHQWOLFKH'XSOLNDWVX FKH EHJLQQWZHUGHQGLH 'DWHQVRUWLHUW'LH:DKOGHV6RUWLHU VFKOVVHOVLVWKLHUEHLYRQJUR‰HU%HGHXWXQJGHQQHUVROOJHZlKU OHLVWHQ GDVV QDFK GHU 6RUWLHUXQJ 'XSOLNDWH QDK EHLHLQDQGHU OLHJHQ'HU6RUWLHUVFKOVVHOEHVWHKWQLFKWQRWZHQGLJHUZHLVHDXV GHQ'DWHQVHOEVWVRQGHUQNDQQQDFKEHVWLPPWHQGRPlQHQVSH ]LILVFKHQ5HJHOQDEJHOHLWHWVHLQ]%GLHHUVWHQGUHL.RQVRQDQ WHQGHV1DFKQDPHQXQGGLHOHW]WHQ=LIIHUQGHU7HOHIRQQXP PHU $QVFKOLH‰HQG ZLUG JOHLFKVDP HLQ )HQVWHU EHU GLH VRUWLHUWHQ'DWHQJHVFKREHQ'XSOLNDWHZHUGHQQXUQRFKLQQHU KDOEGLHVHV)HQVWHUVJHVXFKW6LQGDOOH3DDUHLQHLQHP)HQVWHU YHUJOLFKHQZLUGGDV)HQVWHUXPHLQH6WHOOHZHLWHUJHVFKREHQXQG GLHQHXKLQ]XJHNRPPHQH=HLOHZLUGPLWDOOHQLP)HQVWHUYHUEOLH EHQHQ=HLOHQYHUJOLFKHQ)DOOVQDFKJHHLJQHWHU6RUWLHUXQJ'XS OLNDWHQDKEHLHLQDQGHUPLQGHVWHQVLQQHUKDOEGHU)HQVWHUJU|‰H OLHJHQZHUGHQVRDOOH'XSOLNDWHJHIXQGHQ'XSOLNDWHGHUHQ6RU WLHUVFKOVVHOXQlKQOLFKLVWZHUGHQDOVRQLFKWJHIXQGHQ(LQH9HU EHVVHUXQJGHV9HUIDKUHQVZLUGHU]LHOWLQGHPPHKUHUH'XUFKOlX IH PLW MHZHLOV YHUVFKLHGHQHQ 6RUWLHUVFKOVVHOQ GXUFKJHIKUW ZHUGHQ(VEHVWHKWVRGLHEHJUQGHWH+RIIQXQJGDVV'XSOLNDWH GLHPLWGHPHLQHQ6FKOVVHOQLFKWQDK]XHLQDQGHUVRUWLHUWZHUGHQ LQ HLQHP GHU VSlWHUHQ 'XUFKOlXIH QDKEHLHLQDQGHU OLHJHQ 'HU 9RUWHLOGHUVRUWHGQHLJKERUKRRG0HWKRGHLVWGLH7DWVDFKHGDVV VLHPLWQXUZHQLJHQ/lXIHQEHUGLH'DWHQDXVNRPPW%HLJUR‰HQ 'DWHQPHQJHQLVWGLH$Q]DKOGHU'DWHQOlXIHLQGHQHQDOOH'DWHQ HLQPDOLQGHQ+DXSWVSHLFKHUJHODGHQZHUGHQGLHHQWVFKHLGHQGH .HQQ]DKOGDVLHHLQ,QGLNDWRUIUGLHEHQ|WLJWH=HLWLVW

(LQH$GDSWLRQGLHVHUXQGDQGHUHU0HWKRGHQGHUHIIL]LHQWHQ'X SOLNDWHUNHQQXQJIUUHODWLRQDOH'DWHQDXI;0/'DWHQLVWJHJHQ ZlUWLJHV)RUVFKXQJVWKHPDXQVHUHU$UEHLWVJUXSSH,QVEHVRQGHUH VROOHQKLHU'DWHQGHUJHVFKDFKWHOWHQ.LQGHULPbKQOLFKNHLWVPD‰

EHUFNVLFKWLJWZHUGHQ6RZHUGHQ'DWHQGLHQXUEHGLQJWlKQOLFK VLQGGHQQRFKNRUUHNWDOV'XSOLNDWHHUNDQQWZHQQVLHZHQLJV WHQVlKQOLFKH;0/.LQGHUKDEHQ

:LUNRPPHQQXQ]XP]ZHLWHQ7KHPDGHU,QIRUPDWLRQVLQWHJUD WLRQLQHLQHPODXIHQGHQ6\VWHPQlPOLFKGHP=XVDPPHQIJHQ YRQ'DWHQYHUVFKLHGHQHU4XHOOHQGLHVLFKJHJHQVHLWLJHUJlQ]HQ DEHUDXFKZLGHUVSUHFKHQN|QQHQ=XU'DUVWHOOXQJGHU=LHOHJUHL IHQZLUGDVYRULJH%HLVSLHOGHU6XFKPDVFKLQHQZLHGHUDXI:LU VWHOOHQ XQV HLQH 6XFKPDVFKLQH $ YRU GLH DOV (UJHEQLV HLQHU 6XFKDQIUDJHHLQH/LVWHPLW9HUZHLVHQDXI:HEVHLWHQOLHIHUWGLH GLH$WWULEXWHURLTitelKurzfassung'DWXPXQGSpra- che XPIDVVW 6XFKPDVFKLQH $ NDQQ QLFKW IU DOOH :HEVHLWHQ .XU]IDVVXQJHQHUVWHOOHQXQGVREOHLEWGDV.XU]IDVVXQJ$WWULEXW YRQ=HLW]X=HLWOHHU,QGHU'DWHQEDQNWKHRULHXQGGHU,QIRUPD WLRQVLQWHJUDWLRQQHQQWPDQVROFKIHKOHQGH,QIRUPDWLRQHQnull :HUWH6XFKPDVFKLQH%KLQJHJHQJLEWGLH$WWULEXWHURLTi- telKurzfassungXQGGrößeLQGHU(UJHEQLVOLVWH]XUFN 'LH LQWHQVLRQDOH hEHUODSSXQJ GHU EHLGHQ ,QIRUPDWLRQVTXHOOHQ XPIDVVWDOVRGLHMHZHLOVHUVWHQGUHL$WWULEXWHGLHH[WHQVLRQDOH hEHUODSSXQJXPIDVVWHLQHJHZLVVH0HQJHYRQ:HEVHLWHQGLH YRQEHLGHQ6XFKPDVFKLQHQLQGL]LHUWZXUGHQ'LHH[WHQVLRQDOH hEHUODSSXQJNDQQOHLFKWDQKDQGGHUHLQGHXWLJHQ85/GHU:HE VHLWHQHUNDQQWZHUGHQ,VWHLQVROFKHU,GHQWLILNDWRUQLFKWYRUKDQ GHQZHUGHQ'XSOLNDWHUNHQQXQJVPHWKRGHQHLQJHVHW]W

=XU (LQULFKWXQJ HLQHU 0HWDVXFKPDVFKLQH PXVV ]XQlFKVW HQW VFKLHGHQZHUGHQZHOFKH$WWULEXWHDOV(UJHEQLVGHP1XW]HUSUl VHQWLHUWZHUGHQVROOHQ:lKOWHPDQGLHJU|‰WHJHPHLQVDPH8Q WHUPHQJH HQWKLHOWH GDV (UJHEQLV QXU GLH GUHL $WWULEXWHURL Titel XQGKurzfassung ,QWHUHVVDQWH ,QIRUPDWLRQHQ EHU GrößeRGHUSpracheZUGHQYHUZRUIHQ1lKPHPDQGLHVH]X VlW]OLFKHQ$WWULEXWHKLQ]XPVVWHQ1XW]HUKLQQHKPHQGDVVGD IUQLFKWLPPHU:HUWHHUKlOWOLFKVLQG)U:HEVHLWHQGLHEHL

VSLHOVZHLVHQXUYRQ6XFKPDVFKLQH$JHQDQQWZHUGHQHQWKLHOWH GDV*U|‰H$WWULEXWQXOO:HUWH:LUQHKPHQLP)ROJHQGHQDQ GDVVGLH0HWDVXFKPDVFKLQHNHLQH'DWHQYHUZLUIWDOVRDOOHHUKlOW OLFKHQ$WWULEXWHDQ]HLJWXQGVLHQRWIDOOVDOVQXOO:HUWHDQ]HLJW /LHIHUQQXQEHLGH6XFKPDVFKLQHQLQLKUHQ(UJHEQLVOLVWHQ]XGHU 6XFKDQIUDJHHLQHU0HWDVXFKPDVFKLQH,QIRUPDWLRQHQEHUHLQH JOHLFKH:HEVHLWHPVVHQGLHVH]XHLQHP*HVDPWHUJHEQLVLQWH JULHUWZHUGHQ,QHLQLJHQ )lOOHQLVWGLH,QWHJUDWLRQWULYLDO'LH 85/LVWEHLEHLGHQ/LVWHQHLQWUlJHQJOHLFKGLHVLVWMDGHU$QODVV ]XU,QWHJUDWLRQ'LH:HUWHIUDatumSpracheXQGGröße VWDPPHQMHZHLOVH[NOXVLYYRQGHUHLQHQE]ZGHUDQGHUHQ6XFK PDVFKLQH ,QVRIHUQ HUJlQ]HQ VLFK GLH (LQWUlJH KHUYRUUDJHQG

$OOHUGLQJV OLHIHUQ EHLGH 6XFKPDVFKLQHQ VLFK P|JOLFKHUZHLVH ZLGHUVSUHFKHQGH 'DWHQZHUWH IU GHQTitel XQG GLHKurz- fassungHLQHU:HEVHLWH6LQGGLH:HUWHJOHLFKNDQQPDQVLH GLUHNWLQV(UJHEQLVEHUQHKPHQEHVWHKWHLQ.RQIOLNWPXVVHU JHO|VWZHUGHQ%HLGHU.RQIOLNWO|VXQJVLQGYLHOHUOHL6WUDWHJLHQ DXVJHGUFNW GXUFK .RQIOLNWO|VXQJVIXQNWLRQHQ GHQNEDU %HL VSLHOVZHLVHN|QQWHLPPHUGHU:HUWGHU6XFKPDVFKLQH$JHZlKOW ZHUGHQ(LQHVROFKH6WUDWHJLHGUFNWHLQJU|‰HUHV9HUWUDXHQLQ GLH5LFKWLJNHLWGHU'DWHQLQ6XFKPDVFKLQH$DXV'LHVH3UlIH UHQ] NDQQ PDQ YHUIHLQHUQ LQGHP GLH .RQIOLNWO|VXQJVIXQNWLRQ LPPHU GHQ :HUW YRQ 6XFKPDVFKLQH $ ZlKOW HV VHL GHQQ GHU :HUWLVWHLQQXOO:HUW,QGHP)DOOZLUGGHU:HUWYRQ6XFKPD VFKLQH%DOV(UVDW]JHZlKOWXQGLP(UJHEQLVDQJH]HLJW(LQHDQ GHUH6WUDWHJLHLVWGLH:DKOGHVOlQJHUHQ:HUWHV,QWXLWLYELHWHW HLQOlQJHUHU7LWHOPHKU,QIRUPDWLRQEHUHLQH:HEVHLWH,QDQGH UHQ$QZHQGXQJVV]HQDULHQN|QQWHHWZDYRQPHKUHUHQ'DWXPV DQJDEHQGLHMQJVWHJHZlKOWZHUGHQYRQXQWHUVFKLHGOLFKHQ3UHL VHQGHUJQVWLJVWHXVZ*HUDGHGDVOHW]WH%HLVSLHO]HLJWGDVVHV QLFKWQXUZLFKWLJLVW.RQIOLNWHP|JOLFKVWVLQQYROO]XO|VHQVRQ GHUQGDVVHVHEHQVRZLFKWLJLVWGLH.RQIOLNWO|VXQJVHQWVFKHLGXQJ QDFKYROO]LHKHQ]XN|QQHQ'HUJQVWLJVWH3UHLVHLQHV3URGXNWHV LVW QXW]ORV RKQH ]X ZLVVHQ ZHOFKHU GHU $QELHWHU GLHVHQ 3UHLV QDQQWH 'LHVHQ $VSHNW GHU VR JHQDQQWHQ 'DWHQKHUNXQIW GDWD OLQHDJHEHOHXFKWHQZLUVSlWHUXQGZHQGHQXQVQXQLQWHJULHUHQ GHQ2SHUDWRUHQGHU'DWHQEDQNWHFKQRORJLH]X

:HQQZLUYRQGHU)XVLRQYRQ'DWHQVSUHFKHQN|QQHQZLUGUHL )lOOHXQWHUVFKHLGHQ'LH)XVLRQLGHQWLVFKHU=HLOHQ=HLOHQ XQG LP %HLVSLHO XQWHQ 'LH )XVLRQ VXEVXPLHUWHU =HLOHQ (LQH=HLOHVXEVXPLHUWHLQHDQGHUH=HLOHZHQQVLHPLWGHUDQGH UHQLQDOOHQ'DWHQZHUWHQEHUHLQVWLPPWXQGZHQLJHUQXOO:HUWH HQWKlOW6LHWUlJWJOHLFKVDPPHKU,QIRUPDWLRQ=HLOHQXQG 'LH )XVLRQ VLFK NRPSOHPHQWLHUHQGHU =HLOHQ =ZHL =HLOHQ NRPSOHPHQWLHUHQHLQDQGHUZHQQVLHLQDOOHQ'DWHQZHUWHQEHU HLQVWLPPHQRGHUQXOO:HUWHHQWKDOWHQ=HLOHQXQG'LH )XVLRQ ZLGHUVSUFKOLFKHU =HLOHQ =ZHL =HLOHQ ZLGHUVSUHFKHQ HLQDQGHU ZHQQ VLH PLQGHVWHQV HLQHQ VLFK ZLGHUVSUHFKHQGHQ :HUWHQWKDOWHQ=HLOHQXQG,QGHQ)lOOHQ±EHVWHKHQNHL QH:LGHUVSUFKHLQGHQ'DWHQ:LUXQWHUVXFKHQQXQZHOFKHGHU EHNDQQWHQ2SHUDWRUHQZHOFKH$UWGHU)XVLRQEHKHUUVFKW

'LH HLQIDFKVWH $UW GHU )XVLRQ YRQ 'DWHQ LVW GLH 9HUHLQLJXQJ PDQLIHVWLHUW GXUFK GHQ Union 2SHUDWRU LQ JlQJLJHQ $Q IUDJHVSUDFKHQ ZLH 64/ XQG ;4XHU\ =ZHL 7DEHOOHQ YHUHLQW GXUFKUnionHUJHEHQHLQHJU|‰HUH7DEHOOHGLHGLH=HLOHQEHL GHUHLQ]HOQHQ7DEHOOHQHQWKlOWUnionLQWHJULHUWOHGLJOLFK'DWHQ GHU.DWHJRULHGKHVZHUGHQQXUY|OOLJLGHQWLVFKH=HLOHQHOL PLQLHUW

'HUMinimum Union2SHUDWRU>*/@JHKWHLQHQ6FKULWWZHL WHUXQGLQWHJULHUW]XVlW]OLFK'DWHQGHU.DWHJRULHHVZHUGHQDO VR VXEVXPLHUWH =HLOHQ HQWIHUQW (LQ ,QIRUPDWLRQVYHUOXVW ILQGHW GXUFKGLHVH(OLPLQDWLRQQLFKWVWDWWGDGLHVXEVXPLHUWH=HLOHZH QLJHU,QIRUPDWLRQHQWKLHOWDOVGLHVXEVXPLHUHQGH=HLOH'HUMi- nimum Union2SHUDWRULVW]ZDULQGHU/LWHUDWXUGHILQLHUWZLUG

$ %&

$ %&

$ %QXOO

$ QXOO &

$ %'

MHGRFK QRFK YRQ NHLQHP NRPPHU]LHOOHQ 'DWHQEDQNPDQDJH PHQWV\VWHPDQJHERWHQ

(LQHGLUHNWH2SHUDWRU8QWHUVWW]XQJGHU)XVLRQGHU.DWHJRULHQ XQGJLEWHVQLFKW(VJLEWDOOHUGLQJV.RQVWUXNWHGLHEHLGHHU P|JOLFKHQ,FKGHXWHKLHUQXUNXU]DQGDVVGLH*UXSSLHUXQJPLW GHPGroup By2SHUDWRULQ9HUELQGXQJPLW$JJUHJDWLRQVIXQN WLRQHQGDV3RWHQWLDOKDW.RQIOLNWH]XO|VHQ$OOHUGLQJVLVWGLHVH )XQNWLRQDOLWlW LQ JlQJLJHQ 'DWHQEDQNPDQDJHPHQWV\VWHPHQ VWDUNGXUFKGLHHQJH$XVZDKOGHU$JJUHJDWLRQVIXQNWLRQHQHLQ JHVFKUlQNW,QGHU5HJHOZHUGHQOHGLJOLFKQXPHULVFKH$JJUHJD WLRQHQZLHGLH6XPPHQRGHU'XUFKVFKQLWWVELOGXQJDQJHERWHQ .RPSOH[HUH.RQIOLNWO|VXQJ]%GXUFKGLH$XVZDKOGHVOlQJH UHQ:HUWHVLVWQLFKWP|JOLFK8QVHUH)RUVFKXQJVJUXSSHLVW]XU ]HLWGDEHLHLQHQFuse ByJHQDQQWHQ2SHUDWRU]XHQWZLFNHOQ GHUDOOHYLHU.DWHJRULHQGHU)XVLRQEHKHUUVFKW

'LH (LQIKUXQJ HLQHV VROFKHQ 2SHUDWRUV LQ HLQ 'DWHQEDQNPD QDJHPHQWV\VWHPLVWHLQHVFKZLHULJH$XIJDEH1HEHQGHU'HILQL WLRQGHU6\QWD[GHV2SHUDWRUVDOVRZLHHULQHLQHU$QIUDJHVSUD FKH ZLH 64/ YHUZHQGHW ZLUG LVW GLH )HVWOHJXQJ HLQHU NODUHQ 6HPDQWLNYRQJUR‰HU%HGHXWXQJ'LH6HPDQWLNHLQHV2SHUDWRUV EHVWLPPWZLHHUVLFKEHLEHVWLPPWHQ(LQJDEHQYHUKlOWGKZHO FKHU'DWHQRXWSXWEHLZHOFKHP'DWHQLQSXW]XHUZDUWHQLVW'HU Fuse By2SHUDWRUKDWHLQHlKQOLFKH6\QWD[ZLHGHUGroup By 2SHUDWRU'LH6HPDQWLNHQWVSULFKWHLQHPOuter Union2SH UDWRUPLWHLQHUDQVFKOLH‰HQGHQEHQXW]HUGHILQLHUWHQ*UXSSLHUXQJ Outer UnionLVWHLQH9DULDQWHGHVUnion2SHUDWRUVGLHHV HUODXEWDXFK7DEHOOHQPLWXQWHUVFKLHGOLFKHQ6SDOWHQ]XYHUHL QHQ'DV(UJHEQLVHQWKlOWGLH0HQJHDOOHU6SDOWHQEHLGHU7DEHO OHQ)HKOHQGH:HUWHIU$WWULEXWHGLHQXULQGHUHLQHQQLFKWDEHU LQGHUDQGHUHQ7DEHOOHYHUWUHWHQZDUHQZHUGHQPLWQXOO:HUWHQ HUJlQ]W'LH$UWGHU*UXSSLHUXQJDOVRGHU6FKOVVHOQDFKGHP JUXSSLHUWZHUGHQVROOZLUGGHPFuse By2SHUDWRUDOV3DUDPH WHUEHUJHEHQ:LUGGHPFuse ByNHLQ3DUDPHWHUEHUJHEHQ ZLUGQDFKNHLQHP6FKOVVHOJUXSSLHUWXQGHVZLUGGDV9HUKDOWHQ YRQMinimum UnionDQJHQRPPHQ*HQDXZLHEHLPGroup By2SHUDWRUPVVHQ$WWULEXWHQDFKGHQHQQLFKWJUXSSLHUWZLUG

PLW HLQHU .RQIOLNWO|VXQJVIXQNWLRQ YHUVHKHQ ZHUGHQ 'LH 'H IDXOW.RQIOLNWO|VXQJVIXQNWLRQLVWGLHLP64/6WDQGDUGYRUJHVH KHQHCoalesce)XQNWLRQGLHGHQHUVWHQQLFKWQXOO:HUWDXV GHU/LVWHGHU(LQJDEHZHUWHDXVZlKOW0LWWHOVGHVResolve%H IHKOVN|QQHQDEHUDXFKDQGHUH.RQIOLNWO|VXQJVIXQNWLRQHQVSH]L IL]LHUWZHUGHQ'DVLQWXLWLYH'HIDXOW9HUKDOWHQGHVFuse By 2SHUDWRUVHUOHLFKWHUWGLH1XW]XQJLQHLQIDFKHQ64/$XVGUFNHQ

=XU(LQIKUXQJHLQHVQHXHQ2SHUDWRUV]XU,QIRUPDWLRQVLQWHJUD WLRQJHQJWGHVVHQ'HILQLWLRQLQ6\QWD[XQG6HPDQWLNQLFKW(V PXVVDXFKGLHVFKQHOOH$XVIKUXQJYRQ$QIUDJHQGLHGHQ2SH UDWRUYHUZHQGHQDXIJUR‰HQ'DWHQPHQJHQJHVLFKHUWVHLQ$QIUD JHQ ZHUGHQ YRQ NRPPHU]LHOOHQ 'DWHQEDQNPDQDJHPHQWV\VWH PHQ LQ HLQHP LQWHUQHQ %DXPPRGHOO GDUJHVWHOOW 'LHVHU %DXP VWHOOW ]XJOHLFK GHQ $QIUDJHDXVIKUXQJVSODQ GDU HU JLEW LQVEH VRQGHUH GLH 5HLKHQIROJH DQ LQ GHU EHVWLPPWH 2SHUDWLRQHQ GXUFKJHIKUW ZHUGHQ =XU 2SWLPLHUXQJ GHU $QIUDJH ZLUG GLH 6WUXNWXU GLHVHV %DXPHV PLWWHOV +HXULVWLNHQ YHUlQGHUW VR GDVV ]ZDUGDV(UJHEQLVGHU$QIUDJHVWHWVGDVJOHLFKHEOHLEWGLH$XV IKUXQJGHU$QIUDJHMHGRFKEHVFKOHXQLJWZLUG'LH+HXULVWLNHQ DXVJHGUFNW LQ IRUPDOHQ 5HJHOQ RGHU $OJRULWKPHQ VLQG ]XP 7HLOGDV(UJHEQLVMDKU]HKQWHODQJHU)RUVFKXQJXQG(UIDKUXQJPLW 'DWHQEDQNHQ'XUFKGLH(LQIKUXQJHLQHVQHXHQ2SHUDWRUVPLW QHXHQ(LJHQVFKDIWHQPVVHQ]XQlFKVWGLHVH+HXULVWLNHQDQJH SDVVWZHUGHQ'LHDNWXHOOH$UEHLWLQXQVHUHU)RUVFKXQJVJUXSSH EHVFKlIWLJWVLFKPLWHEHQGLHVHP3UREOHPQlPOLFKGHU$QIUDJH RSWLPLHUXQJPLW,QWHJUDWLRQVRSHUDWRUHQ

9RUGHP(QGHGLHVHV9RUWUDJHVZLOOLFKQRFKHLQOHW]WHVXQGYLHO OHLFKW HQWVFKHLGHQGHV 3UREOHP GHU ,QIRUPDWLRQVLQWHJUDWLRQ DQ VSUHFKHQ ,Q GHQ PHLVWHQ ,QWHJUDWLRQVV]HQDULHQ ZHUGHQ IUKHU RGHUVSlWHUHLQHP1XW]HU]%HLQHP0DQDJHUGLHLQWHJULHUWHQ 'DWHQYRUJHOHJWDXIGHUHQ%DVLV(QWVFKHLGXQJHQJHWURIIHQZHU GHQ=ZDULVWGLH,QWHJUDWLRQGHU'DWHQXQGGDPLWGDV9HUEHUJHQ GHUYLHOIlOWLJHQ+HUNXQIWGHU'DWHQHLQ0HKUZHUWGHUGLH$UEHLW GHV1XW]HUVHUOHLFKWHUW$QGHUHUVHLWVZLUGGLH$N]HSWDQ]GHU'D WHQXQGVRPLWGHU,QWHJUDWLRQVOHLVWXQJQXUJHZlKUOHLVWHWZHQQ GLH,QWHJUDWLRQQDFKYROO]RJHQZHUGHQNDQQ*HUDGHEHLGHU,QWH

JUDWLRQYRQSRWHQWLHOOXQ]XYHUOlVVLJHQ4XHOOHQGHV:::PV VHQ1XW]HUGLH+HUNXQIWGHU'DWHQGLHGDWDOLQHDJHHUIUDJHQ N|QQHQ E]Z VROOWH GLH +HUNXQIW GXUFK HLQH JHHLJQHWH 9LVXDOLVLHUXQJ HUNHQQEDU JHPDFKW ZHUGHQ 'D VRJDU HLQ]HOQH 'DWHQZHUWHRIWDXVGHQ'DWHQYLHOHU4XHOOHQ]XVDPPHQJHVHW]W VLQGLVWGLHVH$XIJDEHQLFKWOHLFKW8PVLH]XO|VHQZHUGHQHQW ODQJGHU7UDQVIRUPDWLRQXQG,QWHJUDWLRQGHU'DWHQEHJLQQHQG EHLGHQXUVSUQJOLFKHQ'DWHQXQGELVKLQ]XPLQWHJULHUWHQ(U JHEQLV HQWVSUHFKHQGH 0HWDGDWHQ JHVDPPHOW 'LH 0HWDGDWHQ HQWKDOWHQ,QIRUPDWLRQHQEHUGLH+HUNXQIWGHU'DWHQDEHUDXFK ,QIRUPDWLRQHQEHUGLH:HLVHZLHVLHHUODQJWZXUGHQGLH$UWGHU 7UDQVIRUPDWLRQHQ XQG DQGHUH 6WDWLVWLNHQ 6LH VWHKHQ GDQQ DXI

$EUXIEHUHLWHQWZHGHUXPGHQ,QIRUPDWLRQVEHGDUIHLQHV1XW]HUV ]XEHIULHGLJHQRGHUXPJUDSKLVFKHQ1XW]HUVFKQLWWVWHOOHQGLH9L VXDOLVLHUXQJ]XHUP|JOLFKHQ2KQHVROFKH7HFKQLNHQZLUGLQWH JULHUWHQ'DWHQQLFKWJHWUDXWXQGLQVEHVRQGHUHZHUGHQVLHQLFKW YHUZHQGHWXPZLFKWLJH(QWVFKHLGXQJHQ]XWUHIIHQ

=XP$EVFKOXVVGHV9RUWUDJVVHLDQJHPHUNWGDVVGDV%HLVSLHO GHU6XFKPDVFKLQHQXQGDQGHUHULP9RUWUDJJHQDQQWHU6]HQDULHQ QXUGLHGHQNEDUHLQIDFKVWHQVLQG,QW\SLVFKHQ$QZHQGXQJHQIU LQWHJULHUWH,QIRUPDWLRQVV\VWHPHVROOHQELV]X,QIRUPDWLRQV TXHOOHQLQWHJULHUWZHUGHQ-HGHGLHVHU4XHOOHQVSHLFKHUWNRPSOH [H'DWHQVDPPOXQJHQPLWKHWHURJHQHQ6WUXNWXUHQEHUYLHOH7D EHOOHQ PLW MHZHLOV YLHOHQ $WWULEXWHQ 'LH $QIRUGHUXQJHQ ]XU (LQULFKWXQJ XQG ]XP %HWULHE VROFKHU $QZHQGXQJHQ VLQG VR KRFK GDVV JUR‰H 7HDPV DXV 'RPlQHQH[SHUWHQ 'DWHQEDQNH[

SHUWHQXQG3URJUDPPHQWZLFNOHUQEHU-DKUHKLQZHJ]XVDPPHQ DUEHLWHQXPVLH]XHQWZHUIHQSODQHQXQGUHDOLVLHUHQ'LH)RU VFKXQJ LQ GHU ,QIRUPDWLRQVLQWHJUDWLRQ OHLVWHW HLQHQ %HLWUDJ LQGHP7HFKQLNHQXQG:HUN]HXJHHQWZLFNHOWZHUGHQGLHJUR‰H

$QWHLOH GHU DQIDOOHQGHQ $UEHLW DXWRPDWLVLHUHQ RGHU ]XPLQGHVW ([SHUWHQXQWHUVWW]HQ(LQHYROODXWRPDWLVFKH,QWHJUDWLRQKHWHUR JHQHU4XHOOHQ]XJUR‰HQLQWHJULHUWHQ,QIRUPDWLRQVV\VWHPHQOLHJW QRFKLQIHUQHU=XNXQIW

$QPHUNXQJHQ

ZZZPHWDFUDZOHUFRP KWWSZZZZRUJ;0/

/LWHUDWXU

>%/1@&DUOR%DWLQL0DXUL]LR/HQ]HULQL6KDPNDQW%1DYDWKH$&RP SDUDWLYH $QDO\VLV RI 0HWKRGRORJLHV IRU 'DWDEDVH 6FKHPD ,QWHJUDWLRQ

$&0&RPSXWLQJ6XUYH\V±

>%5@5LFDUGR$%DH]D<DWHV%HUWKLHU$5LEHLUR1HWR0RGHUQ,QIRU PDWLRQ5HWULHYDO$&03UHVV$GGLVRQ:HVOH\

>*/@&pVDU*DOLQGR/HJDULD2XWHUMRLQVDV'LVMXQFWLRQV,Q3URFHHG LQJVRIWKH$&0,QWHUQDWLRQDO&RQIHUHQFHRQ0DQDJHPHQWRI'DWD6,*

02'±>+6@0DXULFLR$+HUQiQGH]DQG6DOYDWRUH-6WROIR5HDOZRUOGGDWDLV GLUW\ 'DWD FOHDQVLQJ DQG WKH PHUJHSXUJH SUREOHP 'DWD 0LQLQJ DQG .QRZOHGJH'LVFRYHU\±

>/HY\@$ORQ < +DOHY\ $QVZHULQJ TXHULHV XVLQJ YLHZV $ VXUYH\

9/'%-RXUQDO±

>0++@5HQpH-0LOOHU/DXUD0+DDV0DXULFLR$+HUQiQGH]6FKH PD0DSSLQJDV4XHU\'LVFRYHU\,Q3URFHHGLQJVRIWKH,QWHUQDWLRQDO&RQ IHUHQFHRQ9HU\/DUJH'DWDEDVHV9/'%±

>3RSD@/XFLDQ3RSD<DQQLV9HOHJUDNLV5HQpH-0LOOHU0DXULFLR$

+HUQiQGH]5RQDOG)DJLQ7UDQVODWLQJ:HE'DWD,Q3URFHHGLQJVRIWKH ,QWHUQDWLRQDO &RQIHUHQFH RQ 9HU\ /DUJH 'DWDEDVHV 9/'% ± >5%@(UKDUG5DKP3KLOLS$%HUQVWHLQ$VXUYH\RIDSSURDFKHVWRDX WRPDWLFVFKHPDPDWFKLQJ9/'%-RXUQDO±

>6/@$36KHWK-$/DUVRQ)HGHUDWHGGDWDEDVHV\VWHPVIRUPDQDJLQJ GLVWULEXWHGKHWHURJHQHRXVDQGDXWRQRPRXVGDWDEDVHV$&0&RPSXWLQJ 6XUYH\V±

>:DJ@5$:DJQHU2UGHUQFRUUHFWLRQIRUUHJXODUODQJXDJHV&RPPX QLFDWLRQVRIWKH$&0±

)HOL[1DXPDQQ

JHERUHQLQ+DPEXUJ $ELWXULQ+DPEXUJ

± 6WXGLXPGHU:LUWVFKDIWVPDWKHPDWLNDQGHU7HFKQL VFKHQ8QLYHUVLWlW%HUOLQ

± 3URPRWLRQDOV')*6WLSHQGLDWLP*UDGXLHUWHQNROOHJ Ä9HUWHLOWH ,QIRUPDWLRQVV\VWHPH³ DQ GHU +XPEROGW8QL YHUVLWlW]X%HUOLQ$XV]HLFKQXQJGHU'LVVHUWDWLRQPLWGHP

*,'LVVHUWDWLRQVSUHLV

± 9LVLWLQJ6FLHQWLVWDP,%0$OPDGHQ5HVHDUFK&HQ WHULQ6DQ-RVH.DOLIRUQLHQ

6HLW -XQLRUSURIHVVRUIU,QIRUPDWLRQVLQWHJUDWLRQDP,QVWL WXWIU,QIRUPDWLNGHU+XPEROGW8QLYHUVLWlW]X%HUOLQ

$XVJHZlKOWH9HU|IIHQWOLFKXQJHQ

± 4XDOLW\GULYHQ,QWHJUDWLRQRI+HWHURJHQRXV,QIRUPDWLRQ6\V WHPVZLWK8OI/HVHUDQG-RKDQQ&KULVWRSK)UH\WDJ,QWHUQDWLRQDO

&RQIHUHQFH RQ 9HU\ /DUJH 'DWDEDVHV 9/'% (GLQEXUJK 6FRWODQG

± )URP'DWDEDVHVWR,QIRUPDWLRQ6\VWHPV±,QIRUPDWLRQ4XDO LW\0DNHVWKH'LIIHUHQFH

,QWHUQDWLRQDO&RQIHUHQFHRQ,QIRUPDWLRQ4XDOLW\,4&DP EULGJH0$

± 4XDOLW\GULYHQ 4XHU\ DQVZHULQJ IRU ,QWHJUDWHG ,QIRUPDWLRQ 6\VWHP

/HFWXUH1RWHVLQ&RPSXWHU6FLHQFHV/1&66SULQJHU 9HUODJ+HLGHOEHUJ

± &RPSOHWHQHVVRI,QWHJUDWHG,QIRUPDWLRQ6RXUFHV

ZLWK -RKDQQ&KULVWRSK )UH\WDJ DQG 8OI /HVHU ,QIRUPDWLRQ 6\VWHPV,6(OVHYLHU

,QGHU5HLKHgIIHQWOLFKH9RUOHVXQJHQVLQGHUVFKLHQHQ

9RONHU*HUKDUGW

=XUSKLORVRSKLVFKHQ7UDGLWLRQ GHU+XPEROGW8QLYHUVLWlW +DVVR+RIPDQQ

'LHYHUVSURFKHQH0HQVFKHQ ZUGH

+HLQULFK$XJXVW:LQNOHU 9RQ:HLPDU]X+LWOHU 'LH$UEHLWHUEHZHJXQJXQGGDV 6FKHLWHUQGHUHUVWHQGHXWVFKHQ 'HPRNUDWLH

0LFKDHO%RUJROWH Ä7RWDOH*HVFKLFKWH³GHV 0LWWHODOWHUV"

'DV%HLVSLHOGHU6WLIWXQJHQ :LOIULHG1LSSHO

0D[:HEHUXQGGLH$OWKLVWRULH VHLQHU=HLW

+HLQ]6FKLOOLQJ

$P$QIDQJZDUHQ/XWKHU /R\RODXQG&DOYLQ±HLQ UHOLJLRQVVR]LRORJLVFK HQWZLFNXQJVJHVFKLFKWOLFKHU 9HUJOHLFK

+DUWPXW+DUQLVFK

$GHOXQG*UR‰JUXQGEHVLW]LP RVWHOELVFKHQ3UHX‰HQ±

)ULW]-RVW

6HOEVWVWHXHUXQJGHV-XVWL]

V\VWHPVGXUFKULFKWHUOLFKH 2UGQXQJHQ

(UZLQ-+DHEHUOH

%HUOLQXQGGLHLQWHUQDWLRQDOH 6H[XDOZLVVHQVFKDIW 0DJQXV+LUVFKIHOG.ROORTXLXP (LQIKUXQJVYRUWUDJ +HUEHUW6FKQlGHOEDFK

+HJHOV/HKUHYRQGHU:DKUKHLW )HOL[+HU]RJ

hEHUGLH*UHQ]HQGHU:LUN VDPNHLWGHV6WUDIUHFKWV (LQH+RPPDJHDQ:LOKHOPYRQ +XPEROGW

+DQV3HWHU0OOHU 6R]LDOH'LIIHUHQ]LHUXQJXQG ,QGLYLGXDOLWlW

*HRUJ6LPPHOV*HVHOOVFKDIWV XQG=HLWGLDJQRVH 7KRPDV5DLVHU

$XIJDEHQGHU5HFKWVVR]LRORJLH DOV=ZHLJGHU5HFKWVZLVVHQ VFKDIW

/XGROI+HUEVW 'HU0DUVKDOOSODQDOV +HUUVFKDIWVLQVWUXPHQW"

hEHUOHJXQJHQ]XU6WUXNWXUDPHUL NDQLVFKHU1DFKNULHJVSROLWLN *HUW-RDFKLP*ODH‰QHU

'HPRNUDWLHQDFKGHP(QGHGHV .RPPXQLVPXV

$UQGW6RUJH

$UEHLW2UJDQLVDWLRQXQG

$UEHLWVEH]LHKXQJHQLQ2VW GHXWVFKODQG

$FKLP/HXEH 6HPQRQHQ%XUJXQGHQ

$ODPDQQHQ

$UFKlRORJLVFKH%HLWUlJH]XUJHU PDQLVFKHQ)UKJHVFKLFKWHGHV ELV-DKUKXQGHUWV

.ODXV3HWHU-RKQH 9RQGHU.RORQHQZLUWVFKDIW ]XP.RORQDW

(LQU|PLVFKHV$EKlQJLJNHLWVYHU KlOWQLVLP6SLHJHOGHU)RUVFKXQJ 9RONHU*HUKDUGW

'LH3ROLWLNXQGGDV/HEHQ &OHPHQV:XUP

*UR‰EULWDQQLHQ)UDQNUHLFK XQGGLHZHVWHXURSlLVFKH,QWH JUDWLRQ

-UJHQ.XQ]H 9HUEIHOGVWUXNWXUHQ :LQIULHG6FKLFK

'LH+DYHODOV:DVVHUVWUD‰HLP 0LWWHODOWHU%UFNHQ'lPPH 0KOHQ)OXWULQQHQ +HUIULHG0QNOHU

=LYLOJHVHOOVFKDIWXQG%UJHU WXJHQG

%HGUIHQGHPRNUDWLVFKYHUID‰WH

*HPHLQZHVHQHLQHUVR]LRPRUDOL VFKHQ)XQGLHUXQJ"

+LOGHJDUG0DULD1LFNHO

*HVFKOHFKWHUYHUKlOWQLVLQGHU :HQGH

,QGLYLGXDOLVLHUXQJYHUVXV6ROLGD ULVLHUXQJ"

&KULVWLQH:LQGELFKOHU

$UEHLWVUHFKWOHUXQGDQGHUH /DLHQLQGHU%DXJUXEHGHV

*HVHOOVFKDIWVUHFKWV 5HFKWVDQZHQGXQJXQG5HFKWV IRUWELOGXQJ

/XGPLOD7KRPDV 5X‰ODQGLP-DKUH 'LH*HVHOOVFKDIWYRUGHU5HYR OXWLRQ

:ROIJDQJ5HLVLJ 9HUWHLOWHV5HFKQHQ,P ZHVHQWOLFKHQGDV+HUN|PP OLFKHRGHUHWZDVJUXQGOHJHQG 1HXHV"

(UQVW2VWHUNDPS 'LH6HHOHGHVKLVWRULVFKHQ 6XEMHNWV

+LVWRULVFKH3RUWUDLWNXQVWLQ)ULHG ULFK6FKLOOHUVÄ*HVFKLFKWHGHV

$EIDOOVGHUYHUHLQLJWHQ1LHGHU ODQGHYRQGHU6SDQLVFKHQ5HJLH UXQJ³

5GLJHU6WHLQOHLQ 0lUFKHQDOVSRHWLVFKH (U]LHKXQJVIRUP

=XPNLQGHUOLWHUDULVFKHQ6WDWXV GHU*ULPPVFKHQÄ.LQGHUXQG +DXVPlUFKHQ³

+DUWPXW%RRFNPDQQ

%UJHUNLUFKHQLPVSlWHUHQ 0LWWHODOWHU

0LFKDHO.ORHSIHU 9HUIDVVXQJVJHEXQJDOV

=XNXQIWVEHZlOWLJXQJDXV 9HUJDQJHQKHLWVHUIDKUXQJ

=XU9HUIDVVXQJVJHEXQJLPYHU HLQWHQ'HXWVFKODQG 'LHWULFK%HQQHU

hEHUGLH$XIJDEHQGHU3lGD JRJLNQDFKGHP(QGHGHU''5 +HLQ](OPDU7HQRUWK

Ä5HIRUPSlGDJRJLN³ (UQHXWHU9HUVXFKHLQHUVWDXQOL FKHV3KlQRPHQ]XYHUVWHKHQ -UJHQ.6FKULHZHU

:HOW6\VWHPXQG ,QWHUUHODWLRQV*HIJH 'LH,QWHUQDWLRQDOLVLHUXQJGHU3lG DJRJLNDOV3UREOHP9HUJOHLFKHQ GHU(U]LHKXQJVZLVVHQVFKDIW )ULHGULFK0DLHU

Ä'DV6WDDWVVFKLII³DXIGHU )DKUWYRQ*ULHFKHQODQGEHU 5RPQDFK(XURSD

=XHLQHU0HWDSKHUDOV%LOGXQJV JHJHQVWDQGLQ7H[WXQG%LOG 0LFKDHO'D[QHU

$OPD0DWHU5HVWLWXWDRGHU(LQH 8QLYHUVLWlWIUGLH+DXSWVWDGW

.RQUDG+-DUDXVFK 'LH9HUWUHLEXQJGHUMGLVFKHQ 6WXGHQWHQXQG3URIHVVRUHQYRQ GHU%HUOLQHU8QLYHUVLWlWXQWHU GHP165HJLPH

'HWOHI.UDX‰

6FKXOGLP6WUDIUHFKW

=XUHFKQXQJGHU7DWRGHU$EUHFK QXQJPLWGHP7lWHU"

+HUEHUW.LWVFKHOW 5DWLRQDOH9HUIDVVXQJVZDKO"

=XP'HVLJQYRQ5HJLHUXQJVV\V WHPHQLQQHXHQ.RQNXUUHQ]GHPR NUDWLHQ

:HUQHU5|FNH /LHEHXQG0HODQFKROLH )RUPHQVR]LDOHU.RPPXQLNDWLRQ LQGHUÃ+LVWRULHYRQ)ORULRXQG

%ODQVFKHIOXUµ +XEHUW0DUNO

:RKLQJHKWGLH%LRORJLH"

+DQV%HUWUDP

'LH6WDGWGDV,QGLYLGXXPXQG GDV9HUVFKZLQGHQGHU)DPLOLH 'LHWHU6HJHUW

'LNWDWXUXQG'HPRNUDWLHLQ 2VWHXURSDLP-DKUKXQGHUW .ODXV56FKHUSH

%HVFKUHLEHQQLFKW(U]lKOHQ

%HLVSLHOH]XHLQHUlVWKHWLVFKHQ 2SSRVLWLRQ9RQ'|EOLQXQG 0XVLOELV]X'DUVWHOOXQJHQGHV +RORFDXVW

%HUQG:HJHQHU 6R]LDOH*HUHFKWLJNHLWV IRUVFKXQJ1RUPDWLYRGHU GHVNULSWLY"

+RUVW:HQ]HO

+|UHQXQG6HKHQ±6FKULIWXQG

%LOG=XUPLWWHODOWHUOLFKHQ9RUJH VFKLFKWHDXGLRYLVXHOOHU0HGLHQ +DQV3HWHU6FKZLQWRZVNL

9HUWHLOXQJVGHIL]LWHGXUFK5HFKW DXIJOREDOLVLHUWHQ0lUNWHQ

*UXQGVWUXNWXUHQHLQHU1XW]HQ WKHRULHGHV5HFKWV +HOPXW:LHVHQWKDO

'LH.ULVHKROLVWLVFKHU3ROLWLN DQVlW]HXQGGDV3URMHNWGHU JHVWHXHUWHQ6\VWHPWUDQV IRUPDWLRQ

5DLQHU'LHWULFK :DKUVFKHLQOLFKUHJHOKDIW

*HGDQNHQ]XU1DWXUGHU LQQHUHQ6SUDFKYHUDUEHLWXQJ

%HUQG+HQQLQJVHQ 'HU1RUGHQ(LQH(UILQGXQJ 'DVHXURSlLVFKH3URMHNWHLQHU UHJLRQDOHQ,GHQWLWlW 0LFKDHO&%XUGD

,VWGDV0D‰KDOEOHHUKDOEYROO RGHUHLQIDFKYROO"

'LHYRONVZLUWVFKDIWOLFKHQ3HUV SHNWLYHQGHUQHXHQ%XQGHVOlQGHU 9RONHU1HXPDQQ

0HQVFKHQZUGHXQG([LVWHQ]

PLQLPXP :ROIJDQJ,VHU

'DV*UR‰EULWDQQLHQ=HQWUXP LQNXOWXUZLVVHQVFKDIWOLFKHU 6LFKW

9RUWUDJDQOl‰OLFKGHU(U|IIQXQJ GHV*UR‰EULWDQQLHQ=HQWUXPVDQ GHU+XPEROGW8QLYHUVLWlW]X%HU OLQ

8OULFK%DWWLV

'HPRNUDWLHDOV%DXKHUULQ -RKDQQHV+DJHU

*UXQGUHFKWHLP3ULYDWUHFKW -RKDQQHV&KULVWHV

&LFHURXQGGHUU|PLVFKH +XPDQLVPXV :ROIJDQJ+DUGWZLJ

9RP(OLWHEHZX‰WVHLQ]XU 0DVVHQEHZHJXQJ±)UK IRUPHQGHV1DWLRQDOLVPXVLQ 'HXWVFKODQG±

(ODUG.OHZLW]

6DFKXQWHUULFKW]ZLVFKHQ :LVVHQVFKDIWVRULHQWLHUXQJXQG .LQGEH]XJ

5HQDWH9DOWLQ

'LH:HOWPLWGHQ$XJHQGHU .LQGHUEHWUDFKWHQ 'HU%HLWUDJGHU(QWZLFNOXQJV WKHRULH3LDJHWV]XU*UXQGVFKXO SlGDJRJLN

*HUKDUG:HUOH 2KQH:DKUKHLWNHLQH9HU V|KQXQJ

'HUVGDIULNDQLVFKH5HFKWVVWDDW XQGGLH$SDUWKHLG9HUJDQJHQKHLW %HUQKDUG6FKOLQN

5HFKWVVWDDWXQGUHYROXWLRQlUH

*HUHFKWLJNHLW9HUJDQJHQKHLW DOV=XPXWXQJ"

=ZHL9RUOHVXQJHQ :LOWUXG*LHVHNH

(UIDKUXQJHQDOVEHKLQGHUQGH XQGI|UGHUQGH0RPHQWHLP /HUQSUR]H‰(UZDFKVHQHU

$OH[DQGHU'HPDQGW 5DQNHXQWHUGHQ:HOWZHLVHQ :ROIJDQJ+DUGWZLJ 'LH*HVFKLFKWVHUIDKUXQJGHU 0RGHUQHXQGGLHbVWKHWLVLH UXQJGHU*HVFKLFKWVVFKUHLEXQJ /HRSROGYRQ5DQNH

=ZHL9RUWUlJHDQOl‰OLFKGHU :LHGHUNHKUGHV*HEXUWVWDJHV /HRSROGYRQ5DQNHV $[HO)OHVVQHU

'HXWVFKH-XULVWHQDXVELOGXQJ 'LHNOHLQH5HIRUPXQGGLHHXUR SlLVFKH3HUVSHNWLYH 3HWHU%URFNPHLHU

6HXOGDQVPRQOLWJODFp±

6DPXHO%HFNHWWV(U]lKOXQJHQ YRP8QEHKDJHQLQGHU.XOWXU +DUWPXW%|KPH

'DV/LFKWDOV0HGLXPGHU .XQVW

hEHU(UIDKUXQJVDUPXWXQGlVWKH WLVFKHV*HJHQOLFKWLQGHUWHFKQL VFKHQ=LYLOLVDWLRQ

6LHJOLQG(OOJHU5WWJDUGW

%HUOLQHU5HKDELOLWDWLRQV SlGDJRJLN(LQHSlGDJRJLVFKH 'LV]LSOLQDXIGHU6XFKHQDFK QHXHU,GHQWLWlW

&KULVWRSK*3DXOXV 5HFKWVJHVFKLFKWOLFKHXQG UHFKWVYHUJOHLFKHQGH%H WUDFKWXQJHQLP=XVDPPHQ KDQJPLWGHU%HZHLVYHUHLWHOXQJ (EHUKDUG6FKZDUN

:LUWVFKDIWVRUGQXQJXQG 6R]LDOVWDDWVSULQ]LS 5RVHPDULH:LOO

(LJHQWXPVWUDQVIRUPDWLRQ XQWHUGHP*UXQGJHVHW]

$FKLP/HVFKLQVN\

)UHLH6FKXOZDKOXQGVWDDWOLFKH 6WHXHUXQJ

1HXH5HJHOXQJHQGHVhEHUJDQJV DQZHLWHUIKUHQGH6FKXOHQ +DUU\'HWWHQERUQ

+DQJXQG=ZDQJ]XUVR]LDO NRJQLWLYHQ.RPSOH[LWlWVUH GX]LHUXQJ(LQ$VSHNW PRUDOLVFKHU8UWHLOVSUR]HVVHEHL .LQGHUQXQG-XJHQGOLFKHQ ,QJH)URKEXUJ

%OLFNULFKWXQJ3V\FKRWKHUDSLH 3RWHQ]HQ±5HDOLWlWHQ±

)ROJHUXQJHQ -RKDQQ$GULDQ

3DWHQWUHFKWLP6SDQQXQJVIHOG YRQ,QQRYDWLRQVVFKXW]XQG

$OOJHPHLQLQWHUHVVH

0RQLND'RKHUW\

9HUVWlQGLJXQJWURW]DOOHP 3UREOHPHDXVXQGPLWGHU :LVVHQVFKDIWYRPhEHUVHW]HQ -UJHQYDQ%XHU

3lGDJRJLVFKH)UHLKHLW SlGDJRJLVFKH)UHLUlXPHXQG EHUXIOLFKH6LWXDWLRQYRQ /HKUHUQDQ:LUWVFKDIWVVFKXOHQ LQGHQQHXHQ%XQGHVOlQGHUQ )ORUD9HLW:LOG

.DUQHYDOXQG.DNHUODNHQ 3RVWNRORQLDOLVPXVLQGHUDIULNDQL VFKHQ/LWHUDWXU

-UJHQ'LHGHULFK

:DVOHUQWPDQZHQQPDQQLFKW OHUQW"(WZDV'LGDNWLNÄMHQVHLWV YRQ*XWXQG%|VH³1LHW]VFKH :ROI.U|WNH

:DVLVWÃZLUNOLFKµ"

'HUQRWZHQGLJH%HLWUDJGHU7KHR ORJLH]XP:LUNOLFKNHLWVYHUVWlQG QLVXQVHUHU=HLW

0DWWKLDV-HUXVDOHP 'LH(QWZLFNOXQJYRQ6HOEVW NRQ]HSWHQXQGLKUH%HGHXWXQJ IU0RWLYDWLRQVSUR]HVVHLP /HUQXQG/HLVWXQJVEHUHLFK 'LHWHU.OHLQ

*OREDOLVLHUXQJXQG)UDJHQDQ GLH6R]LDOZLVVHQVFKDIWHQ 5LFKWXQJVEHVWLPPWHU +DQGOXQJV]ZDQJRGHU$QVWR‰

]XHLQVFKQHLGHQGHP:DQGHO"

%DUEDUD.XQ]PDQQ0OOHU 7\SRORJLVFKUHOHYDQWH 9DULDWLRQLQGHU6ODYLD 0LFKDHO3DUPHQWLHU

6HKHQ6HKHQ

(LQELOGXQJVWKHRUHWLVFKHU9HU VXFKEHU&KDUGLQVÃ/¶HQIDQWDX WRWRQµ

(QJHOEHUW3ODVVPDQQ

%LEOLRWKHNVJHVFKLFKWHXQG 9HUIDVVXQJVJHVFKLFKWH 5XWK7HVPDU

'DVGULWWH$XJH ,PDJLQDWLRQXQG(LQVLFKW 2UWIULHG6FKlIIWHU

3HUVSHNWLYHQHUZDFKVHQHQ SlGDJRJLVFKHU2UJDQLVDWLRQV IRUVFKXQJ

.XUW9LFWRU6HOJH5HLPHU +DQVHQ&KULVWRI*HVWULFK 3KLOLSS0HODQFKWKRQ±

.DUOD+RUVWPDQQ+HJHO ,QWHJUDWLYHU6DFKXQWHUULFKW±

0|JOLFKNHLWHQXQG*UHQ]HQ .DULQ+LUGLQD

%HOLFKWHQ%HOHXFKWHQ(UKHOOHQ /LFKWLQGHQ]ZDQ]LJHU-DKUHQ 0DULRQ%HUJN

6FKUHLELQWHUDNWLRQHQ 9HUlQGHUWHV6SUDFKOHUQHQLQ GHU*UXQGVFKXOH &KULVWLQDYRQ%UDXQ

$UFKLWHNWXUGHU'HQNUlXPH -DPHV(<RXQJ

'DQLHO/LEHVNLQG¶V-HZLVK 0XVHXPLQ%HUOLQ7KH 8QFDQQ\$UWRI0HPRULDO

$UFKLWHFWXUH 'DQLHO/LEHVNLQG

%H\RQGWKH:DOO 9RUWUlJHDQOl‰OLFKGHU9HUOHL KXQJGHU(KUHQGRNWRUZUGHDQ 'DQLHO/LEHVNLQG &KULVWLQDYRQ%UDXQ

:DUXP*HQGHU6WXGLHV"

(UQVW9RJW$[HO+RUVWPDQQ

$XJXVW%RHFNK±

/HEHQXQG:HUN

=ZHL9RUWUlJH (QJHOEHUW3ODVVPDQQ

(LQHÄ5HLFKVELEOLRWKHN³"

5HQDWH5HVFKNH 'LH$V\PPHWULHGHVbVWKH WLVFKHQ

$V\PPHWULHDOV'HQNILJXUKLVWR ULVFKlVWKHWLVFKHU'LPHQVLRQ *QWHUGH%UX\Q

$OWHUVEHWUDFKWXQJHQEHUGHQ DOWHQ)RQWDQH

)HVWYRUWUDJDQOl‰OLFKGHU9HUOHL KXQJGHU(KUHQGRNWRUZUGH 'HWOHI.UDX‰

*LIWLP6WUDIUHFKW :ROIJDQJ7KLHUVH5HQDWH

5HVFKNH$FKLP7UHEH‰&ODXGLD 6DOFKRZ

'DV:ROIJDQJ+HLVH$UFKLY 3OlGR\HUVIUVHLQH=XNXQIW 9RUWUlJH

(ONH/HKQHUW$QQHWWH9RJW8OOD 5XVFKKDXSW0DULDQQH.ULV]LR )UDXHQDQGHU+XPEROGW 8QLYHUVLWlW±

9LHU9RUWUlJH %HUQKDUG6FKOLQN

(YDOXLHUWH)UHLKHLW"

=XGHQ%HPKXQJHQXPHLQH 9HUEHVVHUXQJGHUZLVVHQVFKDIWOL FKHQ/HKUH

+HLQ]2KPH

'DV.RVRYRXQGGLH6HUELVFKH 2UWKRGR[H.LUFKH *HUKDUG$5LWWHU

'HU%HUOLQHU5HLFKVWDJLQGHU SROLWLVFKHQ.XOWXUGHU.DLVHU ]HLW)HVWYRUWUDJDQOl‰OLFKGHU9HUOHL KXQJGHU(KUHQGRNWRUZUGHPLW HLQHU/DXGDWLRYRQ:ROIJDQJ +DUGWZLJ

&RUQHOLXV)U|PPHO 'DV)ODLUGHUXQHQGOLFKHQ 9LHOIDOW

9HUHQD2OHMQLF]DN/REVLHQ Ä,VWKLVWKHSURPLVHGHQG"³ 'LH$SRNDO\SVHGHV.LQJ/HDU RGHU)lQJW/LWHUDWXUPLWGHP (QGHDQ"

,QJROI3HUQLFH

.RPSHWHQ]DEJUHQ]XQJLP (XURSlLVFKHQ9HUIDVVXQJV YHUEXQG

*HUG,UUOLW]

'DV%LOGGHV:HJHVLQGHU 3KLORVRSKLH

+HOPXW6FKPLGW

'LH6HOEVWEHKDXSWXQJ(XURSDV LPQHXHQ-DKUKXQGHUW0LW HLQHU5HSOLNYRQ+RUVW 7HOWVFKLN

3HWHU'LHSROG ,QWHUQHWXQG3lGDJRJLN 5FNEOLFNXQG$XVEOLFN $UWXU$[HO:DQGWNH

&RS\ULJKWXQGYLUWXHOOHU0DUNW RGHU'DV9HUVFKZLQGHQGHV 8UKHEHUVLP1HEHOGHU 3RVWPRGHUQH"

-UJHQ0LWWHOVWUD‰

.RQVWUXNWLRQXQG'HXWXQJ hEHU:LVVHQVFKDIWLQHLQHU/HR QDUGRXQG/HLEQL]:HOW *|UDQ3HUVVRQ

(XURSHDQ&KDOOHQJHV

$6ZHGLVK3HUVSHFWLYH0LW HLQHU5HSOLNYRQ-DQXV]5HLWHU +DVVR+RIPDQQ

9RP:HVHQGHU9HUIDVVXQJ 6WHIDQLHYRQ6FKQXUEHLQ

.DPSIXP6XEMHNWLYLWlW 1DWLRQ5HOLJLRQXQG*HVFKOHFKW LQ]ZHLGlQLVFKHQ5RPDQHQXP

)HUHQF0iGO

(XURSlLVFKHU,QWHJUDWLRQV SUR]HVV8QJDULVFKH(UZDU WXQJHQ0LWHLQHU5HSOLNYRQ 'LHWULFKYRQ.\DZ (UQVW0DXJ

.RQ]HUQHLP.RQWH[WGHU .DSLWDOPlUNWH +HUEHUW6FKQlGHOEDFK

'DV*HVSUlFKGHU3KLORVRSKLH $[HO)OHVVQHU

-XULVWLVFKH0HWKRGHXQG HXURSlLVFKHV3ULYDWUHFKW 6LJULG-DFREHLW

.=*HGHQNVWlWWHQDOVQDWLRQDOH (ULQQHUXQJVRUWH

=ZLVFKHQ5LWXDOLVLHUXQJXQG 0XVHDOLVLHUXQJ 9LQFHQW-++RXEHQ

6GRVWDVLHQ(LQHDQGHUH

*HVFKLFKWH

eWLHQQH%DOLEDU)ULHGULFK$

.LWWOHU0DUWLQYDQ&UHYHOG 9RP.ULHJ]XP7HUURULVPXV"

0RVVH/HFWXUHV +DQV0H\HU

9HUVXFKEHUGLH'HPRNUDWLHLQ 'HXWVFKODQG

-RDFKLP.DOOLQLFK

.HLQH$WHPSDXVH±*HVFKLFKWH ZLUGJHPDFKW

0XVHHQLQGHU(UOHEQLVXQG 0HGLHQJHVHOOVFKDIW $QXVFK7DUD]

=XIlOOLJH%HZHLVH &DUOR$]HJOLR&LDPSL

/¶DPLFL]LDLWDORWHGHVFDDO VHUYL]LRGHOO¶LQWHJUD]LRQH HXURSHD'LHLWDOLHQLVFK GHXWVFKH)UHXQGVFKDIWLP 'LHQVWHGHUHXURSlLVFKHQ ,QWHJUDWLRQ

-RKDQQHV5DX

'HXWVFKODQG,WDOLHQXQGGLH HXURSlLVFKH,QWHJUDWLRQ 7KHRGRU6FKLOOLQJ

'HU6FKXW]GHU0HQVFKHQUHFKWH JHJHQGHQ6LFKHUKHLWVUDWXQG VHLQH0LWJOLHGHU

0|JOLFKNHLWHQXQG*UHQ]HQ :ROIJDQJ(UQVW

0HGLHQZLVVHQVFKDIW ]HLWNULWLVFK

(LQ3URJUDPPDXVGHU6RSKLHQ VWUD‰H

+LOPDU6FKU|GHU .OLPDHUZlUPXQJXQG 1DWXUNDWDVWURSKHQLP +RFKJHELUJH 'HVDVWHURGHU6WDELOLWlWLP -DKUKXQGHUW"

.LUDQ.ODXV3DWHO 1DFKGHU1DWLRQDOIL[LHUWKHLW 3HUVSHNWLYHQHLQHUWUDQVQDWLR QDOHQ*HVFKLFKWH 6XVDQQH)UDQN

6WDGWSODQXQJLP

*HVFKOHFKWHUNDPSI (EHQH]HU+RZDUGXQG /H&RUEXVLHU 0DWWKLDV/DQJHQVLHSHQ

0RGHOOLHUXQJSIODQ]OLFKHU 6\VWHPH

3HUVSHNWLYHQHLQHVQHXHQ)RU VFKXQJVXQG/HKUJHELHWHV 0LFKDHO%RUJROWH

.|QLJVEHUJ±'HXWVFKODQG±

(XURSD

+HLQULFK$XJXVW:LQNOHUXQGGLH (LQKHLWGHU*HVFKLFKWH)HVWYRU WUDJDQOlVVOLFKGHV*HEXUWV WDJHV

*X\9HUKRIVWDGW

7KHQHZ(XURSHDQ&RQVWLWXWLRQ

±IURP/DHNHQWR5RPH (ONH+DUWPDQQ

=XU*HVFKLFKWHGHU 0DWULDUFKDWVLGHH )HOL[1DXPDQQ

,QIRUPDWLRQVLQWHJUDWLRQ