RDP 2016-07: The Efficiency of Central Clearing: A Segmented Markets Approach Equation (21)

s m,t + s ˜ m,t =0 MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaam4CamaaBaaaleaacaWGTbGaaiilaiaadshaaeqaaOGaey4kaSIabm4CayaaiaWaaSbaaSqaaiaad2gacaGGSaGaamiDaaqabaGccqGH9aqpcaaIWaaaaa@4037@