{"id":10603,"date":"2016-09-29T09:18:43","date_gmt":"2016-09-29T13:18:43","guid":{"rendered":"https:\/\/www.retarus.com\/us\/project\/use-case-legally-compliant-otc-trading-thanks-to-retarus-cloud-fax-services\/"},"modified":"2024-04-04T04:18:00","modified_gmt":"2024-04-04T08:18:00","slug":"use-case-legally-compliant-otc-trading-thanks-to-retarus-cloud-fax-services","status":"publish","type":"post","link":"https:\/\/www.retarus.com\/us\/use-case-legally-compliant-otc-trading-thanks-to-retarus-cloud-fax-services\/","title":{"rendered":"Legally Compliant OTC Trading Thanks to Retarus Cloud Fax Services"},"content":{"rendered":"","protected":false},"excerpt":{"rendered":"Many financial institutions today still use costly, high-maintenance fax servers to confirm and account for OTC derivative transactions in a regulation-compliant way. Retarus Cloud Fax Services significantly optimize OTC transactions.","protected":false},"author":3,"featured_media":33846,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"[et_pb_section bb_built=\"1\" fullwidth=\"on\" specialty=\"off\" background_image=\"https:\/\/www.retarus.com\/de\/wp-content\/uploads\/sites\/2\/2017\/11\/retarus_use-case_investment-banking.jpg\" inner_shadow=\"on\" module_class=\"ret-bg-bottom\" _builder_version=\"3.0.94\"][et_pb_fullwidth_header background_layout=\"dark\" text_orientation=\"left\" header_fullscreen=\"off\" header_scroll_down=\"off\" content_orientation=\"center\" image_orientation=\"center\" custom_button_one=\"off\" button_one_icon_placement=\"right\" custom_button_two=\"off\" button_two_icon_placement=\"right\" background_overlay_color=\"rgba(0,0,0,0.2)\" custom_css_main_element=\"padding: 20px 0 12px 0 !important;\" _builder_version=\"3.0.94\" max_width_tablet=\"50px\"]\r\n<h1>Legally compliant OTC trading thanks to Retarus Cloud Fax Services<\/h1>\r\n[\/et_pb_fullwidth_header][\/et_pb_section][et_pb_section bb_built=\"1\" admin_label=\"section\" transparent_background=\"on\" allow_player_pause=\"off\" inner_shadow=\"off\" parallax=\"off\" parallax_method=\"on\" padding_mobile=\"off\" make_fullwidth=\"off\" use_custom_width=\"off\" width_unit=\"on\" make_equal=\"off\" use_custom_gutter=\"off\" background_color=\"rgba(255,255,255,0)\" module_class=\"secnav_section\" disabled=\"off\" disabled_on=\"off|off|off\" custom_padding_tablet=\"50px|0|50px|0\" custom_padding_last_edited=\"on|desktop\"][et_pb_row admin_label=\"row\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\"][et_pb_column type=\"4_4\"][et_pb_text admin_label=\"secnav DESKTOP\" background_layout=\"dark\" module_class=\"secnav\" disabled=\"off\" disabled_on=\"off|off|\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.83\" module_alignment=\"left\"]\r\n<ul>\r\n<li><a href=\"[url wordpress]\/services\/fax\/\">Retarus Cloud Fax Services<\/a><\/li>\r\n<li><a href=\"#use-case\">Use Case<\/a><\/li>\r\n<li><a href=\"#download\">Download<\/a><\/li>\r\n<li><a href=\"#callback\">Contact<\/a><\/li>\r\n<\/ul>\r\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=\"1\" fullwidth=\"off\" specialty=\"off\"][et_pb_row background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\"][et_pb_column type=\"4_4\"][et_pb_divider color=\"#ffffff\" show_divider=\"off\" height=\"20\" divider_style=\"solid\" divider_position=\"top\" hide_on_mobile=\"on\" disabled_on=\"on|on|off\" \/][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=\"1\" fullwidth=\"off\" specialty=\"off\"][et_pb_row background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\"][et_pb_column type=\"2_3\"][et_pb_text admin_label=\"Challenge - Background - Solution\" background_layout=\"light\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.83\" module_alignment=\"left\"]\r\n<h2>The challenge<\/h2>\r\nIn the trading and processing of over-the-counter (OTC) derivatives, a fax in accordance with the stipulations for an ISDA Master Service Agreement is a preferred channel for documenting that a valid contract has been executed effectively or confirming that a transaction has been processed. Fax transmission is tried and tested, standardized, legally binding and above all, traceable\u2014thanks to a transmission report and signature. However, increasing digitization is pressuring financial institutions to migrate their fax communication to a fully digital system, thereby reducing their process costs to a minimum. At the same time, they have to guarantee that order and execution confirmations reach recipients quickly and reliably. In accordance with stringent data protection and compliance regulations, they must also ensure that the transmitted data is safeguarded throughout the entire transaction.\r\n<h2>The background<\/h2>\r\nMany companies in the financial sector still run their own server infrastructures for OTC derivative transactions. The problem is that fax servers are costly and require a high level of maintenance and administrative effort. Furthermore, they place high demands on modern interfaces. Conventional fax machines not only require huge amounts of paper, which poses an additional security risk when dealing with financial transactions, but they also quickly reach their limits during peak times or as data volume increases.\r\n<h2>The solution<\/h2>\r\n<a href=\"https:\/\/www.retarus.com\/services\/fax\/\">Retarus Cloud Fax Services<\/a> allow faxes to be sent and received securely and efficiently from email clients, business applications, and office environments. No additional investment is required for hardware, maintenance and cables. Incoming faxes can be forwarded directly to email inboxes, integrated into existing workflow systems or archived. Sophisticated interfaces, global availability, and absolute fail-safety ensure successful communication-based business processes. Financial institutions worldwide also benefit from high-quality services that offer maximum transaction security, as well as fast, error-free fax transmission with immediate status confirmation in existing systems.\r\n[\/et_pb_text][\/et_pb_column][et_pb_column type=\"1_3\"][et_pb_divider height=\"45\" hide_on_mobile=\"on\" _builder_version=\"3.0.83\" disabled_on=\"on|on|off\" \/][et_pb_text admin_label=\"Kundennutzen\" background_layout=\"dark\" module_class=\"ret_check\" max_width_last_edited=\"off|\" background_color=\"#3a95bc\" custom_margin=\"20px|||\" custom_padding=\"30px|30px|30px|30px\" custom_padding_phone=\"20px|20px|20px|20px\" custom_padding_last_edited=\"on|phone\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.83\" module_alignment=\"left\"]\r\n<h2>Customer benefits<\/h2>\r\n<ul>\r\n<li>Digitization of all order processes<\/li>\r\n<li>Can be integrated into the customer\u2019s existing infrastructure<\/li>\r\n<li>Avoids media disruption<\/li>\r\n<li>Connection using standard interfaces<\/li>\r\n<li>Manual processing is kept to a minimum<\/li>\r\n<\/ul>\r\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=\"1\" fullwidth=\"off\" specialty=\"off\"][et_pb_row background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\"][et_pb_column type=\"4_4\"][et_pb_divider color=\"#ffffff\" show_divider=\"off\" height=\"50\" divider_style=\"solid\" divider_position=\"top\" hide_on_mobile=\"on\" disabled_on=\"on|on|off\" \/][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=\"1\" fullwidth=\"off\" specialty=\"off\" parallax_method=\"off\" module_id=\"advantages\" _builder_version=\"3.0.83\" disabled_on=\"off|off|off\" disabled=\"off\" use_background_color_gradient=\"on\" background_color_gradient_start=\"#3a95bc\" background_color_gradient_end=\"#51c9e8\" background_color_gradient_direction=\"162deg\"][et_pb_row make_fullwidth=\"off\" use_custom_width=\"off\" width_unit=\"on\" use_custom_gutter=\"off\" padding_mobile=\"off\" allow_player_pause=\"off\" parallax=\"off\" parallax_method=\"off\" make_equal=\"off\" parallax_1=\"off\" parallax_method_1=\"off\" column_padding_mobile=\"on\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\"][et_pb_column type=\"4_4\"][et_pb_divider color=\"#ffffff\" show_divider=\"off\" height=\"50\" divider_style=\"solid\" divider_position=\"top\" hide_on_mobile=\"on\" disabled_on=\"on|on|off\" \/][et_pb_text admin_label=\"Vorteile im \u00dcberblick\" background_layout=\"dark\" text_orientation=\"center\" border_style=\"solid\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.71\" module_alignment=\"center\"]\r\n<h2>Benefits at a glance<\/h2>\r\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row width_unit=\"off\" padding_mobile=\"off\" parallax_method=\"off\" parallax_method_1=\"off\" parallax_2=\"off\" parallax_method_2=\"off\" parallax_3=\"off\" parallax_method_3=\"off\" column_padding_mobile=\"on\" disabled_on=\"off|off|off\" disabled=\"off\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.94\" background_repeat_1=\"no-repeat\"][et_pb_column type=\"1_4\"][et_pb_blurb admin_label=\"BaFin- und PCI-DSS-konform\" url_new_window=\"off\" use_icon=\"on\" font_icon=\"%%403%%\" icon_color=\"#3a95bc\" use_circle=\"on\" circle_color=\"#ffffff\" use_circle_border=\"off\" icon_placement=\"top\" animation=\"off\" background_layout=\"dark\" text_orientation=\"center\" use_icon_font_size=\"on\" module_class=\"ret_blurb_60\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.83\" icon_font_size=\"40\" max_width_tablet=\"50px\"]\r\nPerfect integration into email clients and office environments\r\n[\/et_pb_blurb][\/et_pb_column][et_pb_column type=\"1_4\"][et_pb_blurb admin_label=\"Nahtlose Integration\" url_new_window=\"off\" use_icon=\"on\" font_icon=\"%%491%%\" icon_color=\"#3a95bc\" use_circle=\"on\" circle_color=\"#ffffff\" use_circle_border=\"off\" icon_placement=\"top\" animation=\"off\" background_layout=\"dark\" text_orientation=\"center\" use_icon_font_size=\"on\" module_class=\"ret_blurb_60\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.83\" icon_font_size=\"40\" max_width_tablet=\"50px\"]\r\nHighest degree of availability and error-free delivery\r\n[\/et_pb_blurb][\/et_pb_column][et_pb_column type=\"1_4\"][et_pb_blurb admin_label=\" Hohe Verf\u00fcgbarkeit\" url_new_window=\"off\" use_icon=\"on\" font_icon=\"%%382%%\" icon_color=\"#3a95bc\" use_circle=\"on\" circle_color=\"#ffffff\" use_circle_border=\"off\" icon_placement=\"top\" animation=\"off\" background_layout=\"dark\" text_orientation=\"center\" use_icon_font_size=\"on\" module_class=\"ret_blurb_60\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.83\" icon_font_size=\"40\" max_width_tablet=\"50px\"]\r\nNo need for own infrastructure\r\n[\/et_pb_blurb][\/et_pb_column][et_pb_column type=\"1_4\"][et_pb_blurb admin_label=\"Datenschutz\" url_new_window=\"off\" use_icon=\"on\" font_icon=\"%%461%%\" icon_color=\"#3a95bc\" use_circle=\"on\" circle_color=\"#ffffff\" use_circle_border=\"off\" icon_placement=\"top\" animation=\"off\" background_layout=\"dark\" text_orientation=\"center\" use_icon_font_size=\"on\" module_class=\"ret_blurb_60\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.83\" icon_font_size=\"40\" max_width_tablet=\"50px\"]\r\nReal-time monitoring, detailed reports and analyses\r\n[\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row make_fullwidth=\"off\" use_custom_width=\"off\" width_unit=\"on\" use_custom_gutter=\"off\" padding_mobile=\"off\" allow_player_pause=\"off\" parallax=\"off\" parallax_method=\"off\" make_equal=\"off\" parallax_1=\"off\" parallax_method_1=\"off\" column_padding_mobile=\"on\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\"][et_pb_column type=\"4_4\"][et_pb_divider color=\"#ffffff\" show_divider=\"off\" height=\"50\" divider_style=\"solid\" divider_position=\"top\" hide_on_mobile=\"on\" _builder_version=\"3.0.71\" disabled_on=\"on|on|off\" \/][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=\"1\" fullwidth=\"off\" specialty=\"off\" background_color=\"#ffffff\" parallax_method=\"off\" module_class=\"cc-fax more-less\" _builder_version=\"3.0.83\" custom_padding_tablet=\"50px|0|50px|0\" custom_padding_last_edited=\"on|desktop\" module_id=\"use-case\" custom_css_main_element=\"padding: 70px 0 0 0 !important;\"][et_pb_row make_fullwidth=\"off\" use_custom_width=\"off\" width_unit=\"off\" custom_width_percent=\"70%\" use_custom_gutter=\"off\" padding_mobile=\"off\" allow_player_pause=\"off\" parallax=\"off\" parallax_method=\"off\" make_equal=\"off\" parallax_1=\"off\" parallax_method_1=\"off\" padding_1_last_edited=\"on|desktop\" column_padding_mobile=\"on\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\"][et_pb_column type=\"2_3\"][et_pb_text admin_label=\"Use case - part 1\" background_layout=\"light\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.83\" module_alignment=\"left\"]\r\n<h2>Use Case<\/h2>\r\n<a href=\"https:\/\/www.retarus.com\/services\/fax\/\">Retarus Cloud Fax Services<\/a> optimize OTC transactions for financial institutions. The transmission of execution confirmations and the exchange of contractrelevant information are handled directly via the Retarus infrastructure. Thanks to <strong>Retarus Never Busy Technology<\/strong>, documents are sent automatically in rapid succession, significantly lowering the failure rate in fax transmission by up to ten percent. In addition, Retarus dimensions redundant carrier connections so that the optimum bandwidth is always available, preventing resource bottlenecks\u2014even when transmission volumes are high. By means of a time stamp it is possible to trace exactly when documents have been received. These fax services fulfill the highest demands for secure business communication. They comply with the requirements specified by the German Federal Financial Supervisory Authority (BaFin), are PCI DSS certified and comply with the assurance standard ISAE 3402.\r\n[\/et_pb_text][et_pb_toggle admin_label=\"toggle\" open=\"off\" module_class=\"more-info-toggle\" disabled=\"off\" disabled_on=\"on||\" title=\"More information\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.83\"]\r\nData is processed in accordance with the applicable local compliance and data protection regulations in Retarus\u2019 highly secure data centers. Furthermore, Retarus enables the archiving of all incoming and outgoing fax documents in accordance with legal provisions.\r\nA web-based administration portal provides maximum transparency and control, offering numerous configuration options, detailed reports and overviews of individual connections, as well as real-time monitoring. A \u201cFax resend\u201d function allows rejected fax documents to be resent anytime, without granting Retarus access to the contents of the documents. This means financial institutions can be certain that all transactions are confirmed and that a report will be available the next morning, which can then be used for reconciliation against the order books (confirmed status).\r\n[\/et_pb_toggle][et_pb_divider height=\"100\" hide_on_mobile=\"on\" _builder_version=\"3.0.83\" disabled_on=\"off|off|off\" disabled=\"off\" \/][\/et_pb_column][et_pb_column type=\"1_3\"][et_pb_divider height=\"65\" hide_on_mobile=\"on\" _builder_version=\"3.0.83\" disabled_on=\"on|on|off\" \/][et_pb_blurb _builder_version=\"3.0.94\" url_new_window=\"on\" use_icon=\"on\" font_icon=\"%%266%%\" background_color=\"#5bb7d3\" icon_color=\"#ffffff\" use_circle=\"off\" use_circle_border=\"off\" icon_placement=\"top\" use_icon_font_size=\"off\" background_layout=\"dark\" custom_padding=\"30px|15px|5px|15px\" custom_padding_phone=\"15px|15px|15px|15px\" custom_padding_last_edited=\"on|phone\" module_class=\"ret_blurb_60\" animation=\"off\" text_orientation=\"center\" circle_color=\"#ffffff\" icon_font_size=\"40\" url=\"https:\/\/www.retarus.com\/wp-content\/uploads\/sites\/1\/2016\/11\/use-case_legally-compliant-otc-trading_retarus.pdf\" max_width_tablet=\"50px\" module_id=\"download\" custom_css_blurb_image=\"margin-bottom: 25px;\"]\r\nGet this Use Case as PDF file now and simplify the processing of OTC derivatives.\r\n<a class=\"blend ret_button\" href=\"https:\/\/www.retarus.com\/wp-content\/uploads\/sites\/1\/2016\/11\/use-case_legally-compliant-otc-trading_retarus.pdf\" target=\"_blank\" rel=\"noopener\">Download now<\/a>\r\n[\/et_pb_blurb][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=\"1\" admin_label=\"Sektion\" fullwidth=\"off\" specialty=\"off\" _builder_version=\"3.0.94\" background_color=\"#e6eaed\" disabled_on=\"off|off|off\" disabled=\"off\"][et_pb_row admin_label=\"Zeile\" _builder_version=\"3.0.80\" background_repeat_1=\"no-repeat\" background_repeat_2=\"no-repeat\" padding_top_1=\"30px\" padding_right_1=\"0px\" padding_bottom_1=\"30px\" padding_left_1=\"30px\" padding_top_2=\"30px\" padding_right_2=\"30px\" padding_bottom_2=\"30px\" padding_left_2=\"0px\"][et_pb_column type=\"1_3\"][et_pb_blurb admin_label=\"Informationstext\" _builder_version=\"3.0.94\" url_new_window=\"off\" use_icon=\"on\" font_icon=\"%%623%%\" icon_color=\"#3a95bc\" use_circle=\"off\" use_circle_border=\"off\" icon_placement=\"top\" use_icon_font_size=\"off\" background_layout=\"light\" \/][\/et_pb_column][et_pb_column type=\"2_3\"][et_pb_text admin_label=\"Wussten Sie schon?\" background_layout=\"light\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.94\" module_alignment=\"left\" custom_margin=\"0px|||\" custom_margin_tablet=\"-60px|||\" custom_margin_last_edited=\"on|tablet\"]\r\n<h2>Did you know?<\/h2>\r\n<p class=\"ret_quote\">Retarus Cloud Fax Services are PCI DSS certified, comply with the stipulations of the German Federal Financial Supervisory Authority, meet the requirements of the assurance standard ISAE 3402, and also comply with the most stringent legal and compliance requirements for the processing of contract data.<\/p>\r\n<a href=\"[url wordpress]\/why-retarus\/compliance-certifications\/\">Learn more<\/a>\r\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=\"1\" fullwidth=\"off\" specialty=\"off\" background_color=\"#ffffff\" parallax_method=\"off\" module_id=\"scenarios\" module_class=\"cc-fax\" _builder_version=\"3.0.83\" custom_padding_tablet=\"50px|0|50px|0\" custom_padding_last_edited=\"on|desktop\" custom_css_main_element=\"padding: 70px 0 100px 0 !important;\"][et_pb_row background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\"][et_pb_column type=\"4_4\"][et_pb_text admin_label=\"Weitere Szenarien\" background_layout=\"light\" text_orientation=\"center\" border_style=\"solid\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.71\" module_alignment=\"center\"]\r\n<a name=\"scenarios\"><\/a>\r\n<h2>Other scenarios<\/h2>\r\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row padding_mobile=\"off\" parallax_method=\"off\" parallax_method_1=\"off\" parallax_method_2=\"off\" parallax_method_3=\"off\" column_padding_mobile=\"on\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.83\" background_repeat_1=\"no-repeat\" background_repeat_2=\"no-repeat\" background_repeat_3=\"no-repeat\"][et_pb_column type=\"1_3\"][et_pb_blurb title=\"Payment Reminders\" url_new_window=\"off\" use_icon=\"off\" use_circle=\"off\" use_circle_border=\"off\" image=\"https:\/\/www.retarus.com\/de\/wp-content\/uploads\/sites\/2\/2017\/11\/retarus_use-case_dunning-process.jpg\" icon_placement=\"top\" animation=\"off\" background_layout=\"light\" text_orientation=\"center\" use_icon_font_size=\"off\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.94\" custom_css_main_element=\"padding: 13px;\" background_color=\"#eff1f5\" max_width_tablet=\"50px\" module_class=\"ret_curved-shadow-both\"]\r\nCustomers who are late with payments receive a reminder via SMS thanks to Retarus Cloud SMS Services, demonstrably improving the payment behavior of customers in default.\r\n<a class=\"ret_button\" href=\"[url wordpress]\/project\/use-case-payment-reminders-with-retarus-sms-for-applications\/\">Optimize dunning processes<\/a>\r\n[\/et_pb_blurb][\/et_pb_column][et_pb_column type=\"1_3\"][et_pb_blurb title=\"Leasing and loan applications\" url_new_window=\"off\" use_icon=\"off\" use_circle=\"off\" use_circle_border=\"off\" image=\"https:\/\/www.retarus.com\/wp-content\/uploads\/sites\/1\/2016\/09\/use-case_otc-trading.jpg\" icon_placement=\"top\" animation=\"off\" background_layout=\"light\" text_orientation=\"center\" use_icon_font_size=\"off\" background_position=\"top_left\" background_repeat=\"repeat\" background_size=\"initial\" _builder_version=\"3.0.94\" custom_css_main_element=\"padding: 13px;\" max_width_tablet=\"50px\" custom_margin=\"0px|||\" custom_margin_tablet=\"50px|||\" custom_margin_last_edited=\"on|desktop\" background_color=\"#eff1f5\" module_class=\"ret_curved-shadow-both\"]\r\nRetarus Cloud Fax Services enable barcodes to be added to forms before they are transmitted by fax. 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