Andy dwi'n rhoi gydag'r awglaeth na nhw'n mynd o gydwch chi ar y'r newid yma, a gein ni'n mynd o syniadau rhoi'r ystafell ar hyd o beth ychydig chi'n ei wneud. Pwy ychydig i'r gael, mae hi'n ddозenwaith bod threeo fae fan o phirfer o ddegiwyddu, sinolwyddu, ddegiwyddu, ffogolwyddu, o blaenu mewn ysgolwyddu, a maen nhw ein i'ch gweithio i'r ddechrau'n roddfawr. Mae'r ddylch yn dweud i'r ffodol o'r cyflawn o sefydlu a'r ddylch yn ei ddiwethaf. Mae'r ddweud yn y llwyddiad. Mae'n ddweud bod yna'r ddiwethaf o'r oedd yng Nghymru yn ddiwethaf. Felly, rwy'n dweud i'r ddylch yn y ddechrau a'r ddysgfaith, rwy'n ddweud i'r ddylch yn ddysgfaith, ac rwy'n ddweud i'r dd communi. Mae'n ddweud i'r ddweud i'r ddweud i'r cyflawn. Maen nhw'n cyfan wahanol? How many of you believe that working in the civil service is exciting? Please raise your hand. That's the lowest show of hands we've had so far. So probably about 10%. Well I'm sorry to inform you but you are wrong. And I know you're wrong. And I know it for a fact. Because we are very fortunate we now have a canonical source of truth. And that source of truth is Twitter. Twitter says it is exciting. It is. I work in the Government Digital Service. It is very exciting. I guess the other theme for the day was in with the new. To start off, I am going to talk about the old, because the old is actually quite important. If you are looking at the big transformations that we are trying to make in introducing the new, you have to start unpicking what the old was about. ac yn fan hyn yn perifodol, mae'n gynnwys ychydig yn rhoi ddyn nhw'r gwybod yma. Felly mae'r gwybod yma, felly mae'r gwybod dyma, y bywod eich model yma yn cyfanyddio o gweld. Mul tyur o'r heb löredu gwag, a y mil tyur o'r gwybod a'r gwybod ac describe o'r gwybod o'r gwybod mewn mae'r eivawr yn gwybod yma. Mae'r gwybod, oherwydd mae'r gwybod, oherwydd mae'r oligopoli, eithaf ddig shefyddi, mae'r gw带ol yn gwybod yn ni. Mae'r gwybod, Dyn ni'n golygu'r cyfrannol mewn gwir, yw Francis Mord, yw'r Minister for the Cabinet Office, ac yw'r cyfrannol sydd yn ei fawr yn gwybod, gyfrannol cyfrannol i'r grwp yn ysgrifennu cyfeirwyr, sy'n gwybod digital. Mae'n fawr o'r pethau gwir o'r cyfrannol i gyfrannol yn gwybod. Dwi gweithio'r pethau, mae'n gwybod. Mae'r pethau gwir o'r cyfrannol o'r cyfrannol sy'n cyfrannol o'r cyfrannol. y dyfodol, y dyfodol y cystafol a dyfodol y pryd. If you think about it, what government departments typically had done was to outsource most of their IT to one or more large suppliers who effectively would do the IT, because IT historically was treated as being not particularly important. I think one of the reasons for this, trying to figure out why this happened I have to own up. I used to work for a large systems integrator, and I did quite a lot of work with them on their outsourcing cost models, so I kind of understand some of the thinking that was on the supply side around this. I think part of it was probably driven towards the late 90s, early 2000s, by this concept of what's core and what's non-core. This kind of strategic view that said actually if you focus on what's core in your organisation, you should then just outsource everything that's non-core. I.T. was viewed as non-core. Now, it's great. I used to do component business modelling going to a client, show them what was core and what was non-core. I.T., interestingly, was always non-core and something they should outsource to the company that I worked for. It's kind of interesting. If you think about it, if you think about the decisions that organisations make, what happens if you get this wrong? I kind of like to think back to a time when Nokia, as a company, they had a small division that was saying actually we think we should do mobile phones, and just think what would have happened if the organisation said that's not core to our businesses, is it really? We'll just concentrate on what we do. What would have happened to Nokia then? This kind of very simplistic view that actually I.T. is not core to an organisation, I don't think really holds much water in the 21st century. Actually, if you start to break down what is I.T., what is technology, we're starting to look at in terms of this quadrant here, because you can't just bundle everything up and give it to somebody else to manage their problem. There are different tensions driving the different elements of what we do in technology. Effectively, we've kind of got things like digital public services and mission I.T. systems. A digital public services would be the kinds of things that we see online, renewing your tax disc is one of the services with the most take up. Mission I.T. system, so if you're a Department for Work and Pensions, that's a benefit system.  These are the things which are really important. They're quite unique to your industry. You can't just go out and say, well, I'll have a tax collection system. There's a hundred different versions of them out there. I'll just choose one that works best for me. They really are quite unique. What you need to do in these areas is actually really focus on developing and building things which meet your customer needs, meet the needs of the people who are actually using these services. In contrast, the things below the line are actually tending much more towards commodity. It's fairly straightforward when you think about desktops or hosting or networks. These are not things which you need to build a special for government. We don't have special government electricity or special government water, so the concept that we would have special government networks or special government desktops doesn't seem to make much sense. This term, which is a reserved term in government of shared services, which what we mean is things like finance, human resources, procurement. Again, these are tending towards commodity things because what we care about is the cost per user. The key for these things here is that you should be able to swap them in and out regularly. They're based on the price. The price is what's really important. You have to structure these things so when they run on this infrastructure that they can actually swap out the infrastructure when you see a better offer and a better deal, which doesn't necessarily mean a long five-year contract for your hosting or a five-year contract for your desktops, it means using open standards so that when you need to swap to a different desktop provider or a different infrastructure provider, you can do quickly and easily and you can ensure that there is decent market competition in these spaces. This is some of the ways that we're now starting to think about this and trying to break up those big contracts into different smaller approaches. We're trying to disaggregate the big bundles of contracts into things which actually are very specific so instead of saying just provide all services, we're breaking out hosting desktops, networks and then the mission IT systems and what we're finding is that approximately 30% savings can occur just by unbundling those big contracts. To tie it all together, you really need open standards. It doesn't work if you are delivering things which are very tightly controlled, they're very tightly locked down. If, as the case in many government organisations, the applications that you use are based on specific versions of operating systems, specific versions of Java, which only work in a special government desktop which has lots and lots of security layers built on top of it to make sure that only that supplier understands how that works. If you're in that situation, it's very hard for you to switch into a different supplier. Andy very kindly talked about some of Tim O'Reilly's comments. Last year we published our open standards approach and we got some very nice comments as well from some very neat publications. The effects of this sort of unbundling starting to look at what the specific needs are for the specific areas IT is starting to be felt. We just recently had a report from the National Audit Office looking at the savings that we're making through our IT initiatives. Usually for government it actually said that we were making the savings that we promised. This year we think that soon to be published, but we think we're heading north of 400 million in terms of savings over the years. These are in-year savings that are not spread out over a number of years. This is a great time to be a supplier I think because when I look at those multi-year enterprise deals, I just tried to pull together from what we've publicly got out there what the timeline is and what the time scales are for when these deals come to an end. You can kind of see in 2014, 2015, a lot of these big deals come to an end. That kind of graph, that line of how things are happening really says to me that there's an awful lot of opportunity there. When we talk about things like G-Cloud and we've had a reasonable amount of uptake, but it's very, very early days, you start to see that as these big deals come to an end and as departments and organisations are looking to have a much more diverse supply base, that there is an awful lot of opportunity there for spend to be channeled in different ways to a much more diverse set of suppliers. This is the kind of stuff that we're doing to unpick the old to make way for the new. You start to do this, you change the consensus, but nobody really believes it unless you're actually building new things as well. This is where we start to look at what is 21st Century Government about anyway. I'm not sure I really have all the answers, but I think it probably involves some things like these. I think it involves things like Gov.UK. The interesting thing for me, apart from the fact that it's the tagline here of simpler, clearer and faster, is that it's built using a platform approach. What we decided to do with Gov.UK was not to just go out and choose a content management system which we will implement and then just push all content onto it. We built a platform approach which then allows Government Digital Services and Departments to build products on it which meet user needs. There might be products which enable us to engage better with citizens, might be products which enable us to ensure that democracy works, might be products that allow people to engage with the rights to do things. I think one of the key things when you look at 21st Century Government, without trying to get very philosophical about this, but look at where power is held and access to the ability to do stuff. If you make it hard for people to do stuff, then your centralising power, what you want to be doing is making it easier for people to do the things that they need to do. I guess I had to touch on analytics at some point. This is the sneak view of the iPad app which was built for the Prime Minister. This is the kind of thing you need to use when you are running a country. It's certainly not just about GDS being a cool place to work and doing lots of wonderful things. It is, it does, but most of those things are done together with people in departments. People are actually trying to do a lot of the hard yards, changing delivery approaches, changing the organisations, changing the services that they provide to users. A key part of our digital strategy was not just to provide Gov.uk. That's done. The next step is around looking at the big services, the services that citizens most and businesses most often require from government and transforming them so that they are digital by default. As you can see, this is not a hipster London centric thing. We are doing this all over the country. We just had a presentation yesterday from the guys in Student Loans Company about a lot of the changes they are making to the way that people apply for student funding and they are getting some really great differences in terms of customer satisfaction by fixing some of their broken transactions. This is happening all over the country. In government departments all over the place there are digital teams being created to try and change the way that these services are delivered. There are people called digital leaders being put in place who work at board level, who give those organisations the accountability and the ability to go away and deliver great things. How do you do it? You do it with multidisciplinary teams. Maybe people who don't look like traditional civil servants. I'm not sure what a traditional civil servant is anymore. When you look around the place, people do look very different. The job roles that they have, they are kind of different things. They might be called developers, they might be called designers. Design is a really important part about making it a digital service that really works. We have this concept of a service manager, somebody who is accountable for that service. This is a really hard change for some departments to get their heads around it. It's not just about building a product and putting it live. You have to have somebody who is fundamentally accountable for the maintenance, the improvement, the management of that service moving forward. Of course we do have the normal kind of civil service type roles around policy and communications whose role quite often actually is to protect the people who are building things from some of the governance and some of the mechanics that the civil service can impose. How do we do this? This is something which is really, really simple to say. It's deceptively simple. Start with the user need. By user need we mean those people out there, the real people who actually use the services. We don't mean the management teams within departments. The reason why this is deceptively simple is because this actually starts to, user needs trump all the other needs that the organisation might come up with. This actually gets you into some really deep and difficult discussions with how you organise the services that you deliver. We do face some challenges because we can't build websites with tools designed for building bridges. If you look in most organisations that the governance approaches that people have to put up with don't lend themselves naturally to the kinds of digital services that we're looking to create. The traditional way, I spent quite a lot of my time in the Department for Work and Pensions and the traditional way that we would do things, we would figure out that there was a need for something. We'd have some very, very bright people focusing on making the policy around what we need to do. Then it would come to people in the IT organisation and we'd say, we don't know what to build because we don't have your requirements. Please can you go away and write down your requirements in lots of detail so that we don't get it wrong because we know that sometimes government has got it wrong in the past. One way to protect ourselves against this is if we make you write it down in big documents. When you've spent six months documenting your requirements to the nth degree because you don't want to miss anything because you know what IT is like, they'll never deliver it if you don't get it in the first instance, then we'll go out and procure. Again, that will be a very elongated process which may take somewhere between one and two years. Once we've done all that, we'll finally get a supplier in, they'll start developing and then maybe two and a half years down the track we'll deliver something, push it out there and see what the users think of it. Interestingly, quite a lot of the time, what did the users think of it? Well, the answer was not much. We haven't got a great track record in delivering great services. The way we're trying to do things is actually through spending a bit more time up front doing discovery work, actually figuring out what is it that we're trying to do, what are the needs that we're trying to meet. Then we'll very quickly produce an alpha, somebody can see and touch and say is this meeting the user need and we will test it with real users to find out what they think of it and if we're successful then we'll move on to a beta. At the end of the alpha stage we may just throw it away, start again with something else because we found through testing that it doesn't work and we'll continue this iterative approach until we finally decide that a service is live. The difference can be quite stark. It's not just about the speed to development but it's also about the cost and effort for all parties, not just for government but also for suppliers involved in making these new services. For example, we will quite easily spend £6m creating these wonderful documents that we can then hand over to somebody and say go build that please or we could actually work with users, work with development teams and produce something which we think is along the lines of what we might want to produce. I guess the other key point about government in the 21st century is just being open about what we're doing and open about the way that we approach things. This I think is a really interesting approach, our performance platform. I'm kind of smiling because I kind of know of some sneak things which are coming in the future which I think are really exciting but I can't talk about. But what this is about is we just defined that for digital services there are four key indicators and then we measured them for all the digital services that are out there and then we published that data and what that means is not only is it useful for us and for service managers within government to understand how does their service perform but also means that the public can hold us to account. So you can see for example the cost per transaction of the services that we offer and you see massive, massive differences for things which you might expect to be fairly similar services. We're also publishing things like the digital take-up of those services. Approximately 80% of the people are online and happy to conduct commercial transactions online. Why is the take-up of government digital services? Why does it vary between 20% and 50% to 60% in the good cases? Understanding what that take-up is, measuring it and understanding what we need to change to make our services so good that people want to use them. The other thing, I don't know if people have seen this but it was published in April, the 16th I think is our approach to how we actually go about building services. This is the service design manual. All digital services from 2014 will have to meet I think all the service standard.  But it also contains a lot of guidance about not just this is the rule but here's how we go about building things that allow you to meet that rule. It's a really good resource. There's more coming very shortly. A lot of stuff which also looks from an IT perspective. How do you change things so that you can actually enable these digital services to be made? Figuring out what we do, my team lead the open standards approach for government and one of the things that we're very clear about with open standards that would be a really stupid thing to do would be if we just sat in a smoke filled darkened room sorry, whatever that phrase is and decided what standards we should implement and then just issued some decrees and forced everybody to use them. That's probably a recipe for disaster. So what we're doing is being very open about the business problems that we're trying to solve and encouraging people to come and actually tell us what they think the standards should be. So I mean it's got some... This is open please if you've got some views and standards do contribute we're really looking for people to contribute and it's got some really important things in there. So I think one of the first things that we will cover is this thing which is a really boring name, multi-agency incident transfer for something very, very important which is when emergencies happen and how do the emergency services communicate to each other by means other than phones and fax which unfortunately does happen sometimes today. So that's really important for us. It's not just about standard, it's also about when government builds things let's publish what we build and let's make it open source let other people use it. So this is gov.uk, a lot of the workings of that are published on GitHub we do know that other governments are taking the code that we've produced I think Honolulu was one of them which is reusing UK government code which is fantastic. I don't think anybody so far blagged a trip to go and help them to do it which I'm sure everybody's desperate to do but I guess the thing is when you are doing things which are specific for your industry then actually being able to share that across organisations is really, really important. We're looking at some of the things that for example Lestonia have done is a data integration across places and that might be something that we want to borrow within the UK so actually doing things in an open source way does allow us to get things done a lot quicker. So we can get better for Lest, we can bring in the new as long as we build it on open standards and open source and not closed systems as long as we're religious about building services based on user needs that's what we're up to. Told it was quite exciting, that's it. Having said that we now do have time for questions so any questions for David? One down here, just wait for the mic because we're live streaming so we need the audience to hear it. You're building a system which almost every government in the world should be copying. How much value in what you're doing is in fact how much compatibility is there between a UK system and other countries' system? It's a good question and we pretty much I would say every week do you have visitors from other countries who are looking to understand what we've done. I think as with anything it's not the case that you should just take what we've done and stick it on some server and run it but I think if you look at the needs of governments across countries then actually a lot of them are very similar so if you look certainly within Europe because a lot of the things that we do are tied to European rules then there is a lot of similarity between the requirements that you might have so if you look at export handling and things like that then it's driven by European Union rules so there is an awful lot of commonality there. I think what we are trying to do is forge partnerships with those countries who are doing things which we find interesting so it's not just countries coming here but also us learning from other countries. I mentioned Estonia, they have this thing called X Road which is how they share information between government organisations and for the citizens and government organisations and they have some laws which basically mean that you can't duplicate information that another government organisation already holds and this is incredibly powerful when you think about it. When you look at your online transactions with government how many times are you asked for the information which you know you've already told another part of government somewhere. Now they've passed laws that make that effectively illegal to ask for that information. They've passed laws that ensure that any government organisation that holds information makes it available for other organisations to use and they've built an infrastructure which allows that to happen really quite simply and cheaply. So there are an awful lot of commonalities within, it's an industry thing so there are lots of commonalities within the government industry across countries. So it's a bit vague answer but I'd say lots but a lot of untapped potential I think. OK, sorry, this is... I mean you've outlined a vision of a world where everything comes online. Tim, sorry, could I just ask questions to introduce them? Sorry, Tim Simpson, I'm a trustee of Edgyser. How do you see the challenge of getting everybody online? I mean it's well known there's 20-30% of people who are resolutely resisting. How do we handle that? Yeah, I mean it's quite a hot topic at the moment and we have published papers around our view on digital inclusion. I think you kind of have to differentiate between those who don't want to go online and those who can't go online. I think you have to understand what you drive it by the user need. What's the best way to help people who can't get online access the services that they need? And there will be a variety of ways of doing that. I think one of the obvious answers is that it probably feels like it's quite a local solution to local problems depending on the situation that somebody is in. If it's that the connectivity is so appalling because you're living in a rural area and so practically you would like to be online but you can't be. Then there are approaches that you might want to take around centralising some services or delivering services, a number of services from a certain place. If you can't get online then I think you have the question of agency to look at. Is it because you actually would like to empower somebody else to operate online on your behalf? You might have a carer who can do that on your behalf and you're happy to do that. Or it might be that actually online is just not an option. You still want to be able to do things but you need to speak to somebody face to face so it's specific. The question there is how do you construct a service delivery mode which allows you to give those people who need face to face interaction the face to face interaction they need without duplicating that across multiple organisations in government. I don't think there's any silver bullet to this. I think it really is just driving it through user needs understanding the different categories of user need and developing approaches which will match those. Hi, Sam Cox, Age Department for Work and Pensions and Accessibility Assurance variety. Just a question, yes it is digital by default but I've been to quite a few conferences now of people that don't work in government departments that are saying it's only digital and that is a serious concern but is that the message that we want to put out to try and reinforce that we want everybody to go down that line but really my concern is that we're saying that that's all it will be and that's not the right message I would have thought to put out for our disabled citizens. I think the clear answer is, hopefully it's clear, no that's not the message, it's not only digital it's digital by default. We do know that the majority of people are online and able to transact online so we should be building services which meet their needs but where you either won't or can't then we need to be providing the appropriate services for those individuals so it's definitely not only digital. Hi David, Fraser Miles, M-O-D, hopefully you'll recall my programme that I'm currently involved in. I certainly can, with respect to my own programme identify a number of products out there which I'd love to be able to just go and do the alpha and beta models and then implement as your diagram suggested but I still feel heavily constrained by the current routes to procurement that I feel are imposed on me through the M-O-D and also then through the Cabinet Office and what are you doing then in order to try and facilitate the preferred model that you've demonstrated rather than the more traditional and elongated routes to procurement. So there's this wonderful resource which is not a lot of people seem to know about it which is a whole set of guidance around lean procurement and in working with government departments if you Google Lean Procurement Cabinet Office I think it takes you straight to the site but there's a whole set of things there around how you run lean procurements, how you engage, do informal meetings with the market prior to launching a pin-in or an old you and it's actually seems to me to be the de facto answer to a lot of the issues that we face but I think not very many people seem to know about it so I think that's one thing to check. I think the other thing is making sure that obviously we've got the public service network frameworks we've got things like G-Cloud at the moment we're looking at what's the next stage of development for G-Cloud I mean it operates reasonably well but it's very early days so far and I think the question is how do you create that vibrant marketplace which doesn't involve lots of hurdles for suppliers in order to enter that marketplace but at the same time actually meets the needs of what departments are buying so I think one of the things that we haven't done very well so far is be really clear about what it is that departments are looking to buy and I think the more clear we can be about these are the kind of standard items that departments want to buy I think that will help the supply side actually understand what they need to offer in order to meet those needs and at the moment we've kind of just more or less allowed suppliers to offer their wares and government departments having to say well actually what I want is not quite that it's something like this so it's a bit of it and I still think remember in G-Cloud is only a year old it's still very early days and I think as we kind of take the approach of sorry to be boring about it but look at the user needs now we've actually got some users using it and we can figure out both from supply side and from the buy side where it doesn't meet those user needs Philip French also an old yourself trustee David you spoke very compellingly about the work that government digital has done and it shows in the quality of some of those digital public services already delivered I wondered how you felt the same principles and approach could apply into the top left segment of your diagram the line of business major transactional heavy lifting systems no it's been occupying my mind quite a lot recently so I showed you the service design manual which has a lot of the principles that you need to have in order to create a really compelling digital service and we actually started to look at that producing similar set of guidance for you know how you do the mission IT systems and you know some of my team kind of went away and wrote lots of stuff and then when we actually looked at what was in the service design manual we realised we're just replicating an awful lot of that stuff it's actually a lot of the approaches are very very similar and I think the challenge in that mission IT world is really to to some extent I think we've been in a product mindset I think it's been very common for organisations to do that logical view of what does the organisation do where we deal with customers therefore we must have a customer relationship management system we deal with cases of things therefore we must have at least one or more case management systems and kind of looking at that jumping straight to see what's the product that we should buy that meets those needs I think kind of you know by taking that sort of you know discovery alpha beta role you may end up still buying some products but I think you'll buy a lot fewer products than we would otherwise do because I think we'll understand that actually we don't necessarily need you know an expensive business rule system or an expensive case management system we only need a little bit of functionality from one and actually we can find that another way so I think you know there are some of those some of the principles in terms of how we do it will drive you know a change there but I think it also takes a change in the way that architects view you know how you break down the needs that the businesses come to you with okay we've got a question down the front from Twitter sorry to make a new run Matt hi two questions two questions from Matthew Squires on Twitter the first one is David would you give your views on static education i online text versus interactive so e-learning at webinars oh I think I have so little expertise in that area it would be kind of pointless I did very early in my career work in the learning side of IBM where we were pushing people towards e-learning and doing online test but you know honestly that was 15 years ago so I'm so out of touch okay and the second one also from Matthew Squires what the four measures for each IT service that you mentioned earlier so the KPIs this is the test isn't it because I bet I can remember three and then struggle for the fourth so the KPIs were digital take up so what percentage of people are taking up your transaction cost per transaction completion rate so how many people who start your service actually complete it and the fourth one is what's the user satisfaction so how satisfied are people with your users so you Google performance framework performance platform to GDS then you'll find those things and also you'll start to see some of the reporting from departments against those measures and David do you have examples where though making those metrics public has resulted in changes to the way services are delivered or is it too early days for that to be happening I think it's I think they they are currently helping and what they're helping at the moment I mean I'm not sure that making them public is necessarily the driver because I think you know there is a recognition for organisations who are producing those services that these are helpful metrics to drive the changes that you need so you know I wouldn't want to to kind of you don't put all the credit on the fact that you publish it you know I think you know one of the examples I referred to earlier they were well aware of some of the metrics that they had around you know completion of of applications online so you know for example they told us that you know for every application that somebody completes online they usually have four and a half you know an average four and a half calls to a call centre in order to complete that application for funding so I think you know kind of what it does is help people to understand what are the you know boys and focus on what the key things are for their organisation and it also sets a benchmark that they can use but I don't think the you know we know that there are outliers right now I mean if you look at the figures you'll see some very obvious outliers there but I think they are so far in the outlying space that everybody kind of recognised already that they were there but I think as we move forward and get more mature in the space it will provide us with some interesting cross government measures any final questions for David just one down the front here Councillor David Camp in Royal Barricades in Chelsea you haven't mentioned I know there's a lot of things you could mention but data security is one of the most important things there is and I'm afraid the track record of breaking into systems and data getting lost is so significant that I think a lot of people just do not want their information held in IT at the moment what are your what are your processes you're putting to deal with the situation my understanding is there is no such thing as a perfect IT system that can't be broken into it and I think Everton suggests this agreed but you know it's almost so I was having this conversation with my wife last night she was asked to send a copy of her passport to somebody and we were having the debate around was it more or less secure for her to photocopy it and post it or photocopy it and scan it or to send it as an attachment in an email and you know we kind of came to the conclusion that actually it doesn't really matter which thing you choose you're running a risk when you're dealing with data so I think you know one of the key things that were you know we've been working with people in CSG around security policy is kind of understanding the real risks to information so I think historically because of you know some very well documented data losses departments have put in place lots and lots of procedures to prevent people from doing things and what usually happens you know what that has driven is actually people go around the systems and therefore are even more insecure than they would be if you actually put sensible things in place so you know one of the the approach that we took when we developed some guidance around how you need to secure desktops you know operating PCs we developed that jointly with CSG and they were really helpful for us in terms of you know unpicking a lot of the things which departments do by tradition because they think they're minimizing risk and actually saying no you know using modern systems these are the set of things that you do and this is good enough you know similarly we work with to look at some of the myths around use of open source technologies in this space so I guess what's the way to describe it I guess we're using CSG as to some extent the Sinatra test for us which means that you know if you can make it there you can make it anywhere with them so when they support it if CSG support it that's probably good enough so but you know you can't get to a zero risk system well I almost think you know we deliberately didn't talk about BYOD in our desktop guidance because I think BYOD tends not to be the issue I think it's an issue which is creating a lot of noise and heat but actually the really interesting thing is who's accessing your information and what's the level of trust you have of the endpoint that they're accessing it from and that's really the interesting problems and you can address things by lots of different ways but being sure about those things I think you know if you're working on the assumption that actually you don't trust the endpoint then actually you probably won't trust them enough to share very much information with it but there will be certain categories of things which are perfectly fine to do so I think you know that and at that point I don't really care who owns the device is the level of trust I have with the endpoint that I care about okay I think what we'll do now is break for coffee can we just say thank you very much again to David


Thank you very much, Mr. Speaker. Thank you very much, colleagues. Mr. Speaker, this, the request before Parliament seeks to amend the St. Jude Hospital Act Cap 11.20. Speaker Section 65.1 of the Public Finance Management Act 2020 provides that the Minister for Finance may by an affirmative resolution of Parliament grant a guarantee in accordance with an enactment. As allowed under this and the precursor legislation, there have been instances in the past where the government guaranteed borrowings on behalf of statutory institutions, examples being the St. Lucia Development Bank, SLDB, and the St. Lucia A&C Port Authority, SLASPA. The St. Jude Hospital has been faced with a myriad of impediments to its efficient operations, not the least being the fiscal constraints encountered over the years, Mr. Speaker. These were further exacerbated by the COVID-19 pandemic. Many institutions in our country and beyond are emerging from the pandemic with elevated risks and liabilities and liquidity concerns. St. Jude Hospital being no exception. The hospital is used by many residents as we know particularly those who live in the south of the island. It is also accessed by visitors and persons here on extended stay, including foreign students who are here on placements on the growing medical residency programs. The Iwanora International Report is within a few miles of the St. Jude Hospital and as such, the hospital continues to provide an important service to both tourists and locals alike. Mr. Speaker, the pandemic forced our medical facilities to undertake increased expenditures while suffering from reduced revenues. Work-in-capital needs for the hospital is significant and is growing and it continues to recover from the effects of the pandemic and treat with the high incidence of communicable diseases and other non-communicable diseases in addition to so many health issues. Mr. Speaker, the St. Jude Hospital has made a request for the guarantee of a line of credit with the financial institution to augment its current work-in-capital. This financing arrangement will assist in providing additional financial resources for the continued operations of the hospital, notwithstanding the ability of the institution to access financing facilities from commercial banks or other lending institutions. The legislation which governs the operation of the St. Jude Hospital does not have legal provisions which authorize the Minister for Finance to guarantee these borrowings. Additionally, there are no provisions for the state to come to the aid of the institution in the event that it is unable to meet its financing obligations, if so, defaulted under a guarantee of financing arrangement. While this may expose the government by way of a contingent liability, of course, it is important that the hospital which serves as one of our main healthcare facilities is important for the hospital to be able to operate without undue financial pressures and onerous requirements posed by its lenders if the situation prohibits it from servicing guaranteed debt. It is proposed, therefore, Mr Speaker, that it is proposed that we amend the St. Jude Hospital Act. It may be cited as the St. Jude Hospital Amendment Act 2022, this amendment which we propose. It requires inserting immediately after section 20 the following new section, section 20A, which reads 20A1. The Minister responsible for finance may, with the approval of parliament, guarantee in the manner and or conditions as he or she thinks fit. The payment of the principal and interest of an authorized borne by the hospital. Two, where the minister responsible for finance is satisfied that there has been default in the payment of principal or interest guaranteed under this section. He or she shall direct the repayment out of the consolidated fund for the amount in respect of which there has been a default. Mr Speaker, I wish to also provide some explanations for this. I think the St. Jude Hospital Board, Mr Speaker, has tried very hard over the last few months to manage the finances of the hospital. As we know the current conditions at the George Adlum stadium and the aging infrastructure within the hospital, the appliances and so on, place increasing pressures on the St. Jude Hospital with high non-operational expenses associated with maintenance costs that is required to save God both patients and staff. As I have said before, the COVID-19 pandemic has caused a kind of unconventional recession with increased inflation that has reduced the financial position of the organization and reduced its buying power. If we look at inflation in the global market, Mr Speaker, it has increased the cost of supplies and have increased by 8.5% to 32% in some cases, which has increased the operating cost of the St. Jude Hospital where it is already resource constrained. If you look at the hospital revenue, Mr Speaker, revenue, the hospital collected 69%, 69% of its revenue from individuals who come for services, 69% in 2019, that was reduced to 13% in 2021 due to COVID and its impacts. And in 2022, only 19% of the revenue so far compared to the same time in 2019 has been collected. This means, Mr Speaker, that the hospital that cash flow for operations is severely diminished with no financial reserves to cover emergency costs. Currently, Mr Speaker, the hospital operations are covered by a $2.5 million overdraft which is used to service vendors, pay for pharmaceuticals and other hospital supplies that is not covered through the subvention. Mr Speaker, the subvention currently stands at $19.8 million. I wish to say, Mr Speaker, before I put this bill to the house, I wish to say a few words about the St. Jude Hospital just to thank a few people, Mr Speaker. As we know the hospital, Mr Speaker, was established on September 5th, 1966. And when we come to the house to speak about the St. Jude Hospital, I think our other local institutions also, Mr Speaker, I think it's always important to speak a little history so that we can continue with what the minister for equity spoke to a while ago about our people feeling that they own this country. What the prime minister said a while ago, Mr Speaker, that we feel that we are ourselves and we are building ourselves. So, St. Jude, it's important, Mr Speaker, to note that on September 5th, 1966, mother Oma, I knew when I was growing up the people who say mother Oma. But mother Oma, some people call her the Florence Nightingale of St. Lucia. And the sisters of the sorrowful mother of Franciscan religious order, based in Wisconsin USA, started the hospital. So it was established on behalf of the Roman Catholic Church of St. Lucia. Another wonderful project which is associated with the Roman Catholic Church. Patient care, Mr Speaker, at the time was provided at no charge. So the people of the south and people who accessed the St. Jude Hospital did not have to pay for doctors' visits because the doctors were volunteer doctors, the technicians were volunteers. There was ancillary staff from the United States and other countries. St. Jude Hospital became a wonderful model of healthcare and its traditions of volunteerism. And people bringing in the dough-wad to pay their bills. And the Yama Tutan which was valued, you know, hundreds of dollars. And all of that, Mr Speaker, there was a kind of social contract between the hospital and the people of St. Lucia, but primarily people of the south. And the sisters were able to manage the hospital. Mr Speaker, we had some great stories of success at this hospital. In 1992, the government awarded a management contract to Mercy Medical Center from Iowa, the United States of America. In 2003, the St. Jude Hospital Act came into being. And government partially subsidizes the hospital up to now. $19 million, Mr Speaker, is a drop in the bucket. But the St. Jude administration over the years have done wonders. There have been some kinks and we need to ensure that we have boards of management that are accountable and do things right. But overall, Mr Speaker, the people of St. Lucia and the people who have worked at St. Jude Hospital continue to work very, very hard. Over 400 staff members at this hospital. I wish at this stage, even though I'm presenting this bill, Mr Speaker, to thank all the members of the boards who have served in the past. As I've said before, there are different assessments you can make of the various boards and all of this is documented. But I wish to thank all those who have served, Mr Speaker. We need to look a little more closely at the boards of our hospitals, St. Jude Hospital, the Millennium Heights Medical Complex, and see how best we can encourage them by giving them even more incentives. But at this stage, Mr Speaker, the current board, I wish to thank the members of the current board, Mr Speaker, who have taken on a life of exceptional service in this period where the hospital is at the stadium still and they are resource constrained and they have so many issues to deal with and they have taken on a life of extraordinary service. And I wish to recognize them, Mr Speaker, before other members are allowed to make contributions if they wish. I wish to single out the members of the current board, Mr Lucius Elephig, the chairman, who is the CEO of the Library Credit Union. He was a former chair of the board, a long standing community service. Mr Norman Edward, who is the deputy chair, a retired teacher, a long history of service to the community of Viewford. Mr J. D. Japea Immanuel, an attorney at law and a community activist of long standings, of long service. Dr K. Louise, a medical doctor and former board member. Mrs Brunette Williams, experienced administrator and former employee of the hospital. Ms Cynthia Joseph, a qualified and experienced banker and community activist of long standing in the Viewford area. Mrs Chrissy Tobiel Hamal, a youth business activist and community activist. Experienced and qualified in certain aspects of hospital care management. Mrs Jeanette Hughes, a public financial management consultant and community activist. Mr Lawrence Constantine, a retired educator from Shwazei and community activist. Representative of the Union, Mrs Popo. Mrs Lydia Adkins, experienced and qualified health policy expert. And a community activist from Derriso. The management, Mrs Liz Altifa, who in the absence of the chief executive officer performed tremendous service. The team at the hospital, the whole admin team, the hospital attendants. The medical staff, Mrs Speaker. Dr Sebel Netram James, who is the medical director and her medical staff. The dental team, the EMS team, the nursing division, the handyman, the dietary team, health information team, the housekeeping team, the inventory team, the IT team, the lab team, the bio med team, maintenance team, medical meds, ward meds, pharmacy, physiotherapy, procurement, radiology and our security officers. Mrs Speaker. All the departments, I wish to, I wanted to take this opportunity, Mrs Speaker, to tell you who these people are. I did not mention all of the names. At another opportunity, I will mention all of the names, Mrs Speaker, if you will allow me. So when we are speaking about these organizations, where people are sacrificing to ensure that they keep these hospitals growing. And there are many issues at these hospitals, Mrs Speaker. Whether it be the Melanium Ice Medical Complex or the St. Jude Hospital, there are so many issues for us to deal with. So many issues for us to deal with. But we are going bravely forward, Mrs Speaker. We are not cowing in fare because there are criticisms. We know there are criticisms, but we are working diligently to ensure that we deliver quality healthcare. So Mrs Speaker, I bring this bill to the parliament and ask honourable members to provide the St. Jude Hospital and especially the Board of the St. Jude Hospital with the support. Very quick, Mrs Speaker, I would like to explain to the people here with the parliament that the Board of the St. Jude Hospital is in such a difficult situation, because to help people and to guarantee the government of the St. Jude Hospital, there is no law. To help people and to guarantee the government of the St. Jude Hospital, there is no law. Because in English, it is a contingent liability. It means that even if the government is not able to help, if the government is not able to help the people, the government is not able to help. But we can say that if we put the law in St. Jude, who is able to help with parliament, it is not only the government, but the parliament is able to guarantee the government of the St. Jude Hospital. It is easier for them to join the government with the government of the St. Jude Hospital. In St. Jude, the government of the St. Jude Hospital is 19 million dollars, 19.8 million dollars every year, but the government of the St. Jude Hospital is not enough. Because as much as the government of the St. Jude Hospital, the government is not enough. Because we are not enough. The government is not enough. So, we cannot do anything. We cannot do anything. We cannot do anything. But the government is not enough. We cannot do anything.  Twenty                                       Y  y minisla ki minisfinas kamade plisipo ewek minisfinisla vleba ewek bordla a shai si po ko sa nukoi si nuk changé si nuk mete sa an loa nukai sa vinipa lama po garanti la jen by Senjun ewek nusav nunia bord kisawie misia elevik ewek se ti mlea yoka faan shai toabai yoka changé mislidiya Adkins ewek glister muna yoka toabai u changé baga e lo pitala po fei plime ko sa mga mene sa duvan ewek mga rasiweki mam palama kaisipote Senjun eksipote loa sala mesi en shai


During a previous video titled Secret Missions into the Great Pyramid, in which we covered the most bizarre of artifacts once found in a seemingly inaccessible shaft, eventually discovered to be an entry shaft into the now-named Queen's Chamber. Just how this bronze ball, hook, and several bizarre fragments of wood found their way into the Pyramids is unknown. We shared the fact that the wood had become conveniently lost, thus preventing any future dating of the artifacts or indeed this possible attempt to have once penetrated the Pyramid far before the Spanish invasion of Egypt, their modern rediscovery, or indeed before the entrance to the Pyramid was located. However, in a rather strange yet fortunate twist of fate, sitting within a collection of ancient Asian relics within Scotland, an Egyptian archaeologist was shocked to rediscover these cedar fragments, once mislabeled and thus never classified, lost for almost 70 years, yet re-found within an old cigar box. One has to wonder with our prior hypothesis, and indeed the convenience of the wood somehow becoming lost, was this a deliberate act by someone, possibly someone who realized the controversy attached to this artifact. What we find most compelling, however, and a possible motive to hide such an artifact are the now-realized result of modern carbon dating, showing that the wood dates to somewhere between 3341 and 3094 BC, long before the claimed construction of the Pyramid. Furthermore, although many have claimed that counterweights and timber structures were utilized in the construction of the Pyramids, this wood not only predates the claimed date of their creation, but does so by some 1-2,000 years. So any mainstream explanation for this dating anomaly is severely lacking, however, it fits perfectly with our original hypothesis and is indicative not only of a far earlier date of construction, but could indeed have been a possible successful attempt at penetrating the Pyramids' deepest inner chambers, simply due to the mysterious yet impressive location in which these enigmatic artifacts were found and subsequently retrieved from. Curatorial assistant Abir Aladani found the fragments of wood as she perused the Asia section of the archives of the University of Aberdeen. Quote, Once I looked into the numbers of our Egypt records, I instantly knew what it was, and that it had effectively been hidden in plain sight in the wrong collection. I'm an archaeologist and have worked on digs in Egypt, but I never imagined it would be here in northeast Scotland that I'd find something so important to the heritage of my own country. End quote. As you can imagine, we find the wooden artifacts highly compelling.


Hey everyone welcome to this week's video update today's Friday August 28th. Hope everybody had a great week of trading We're gonna talk about the alerts. We're gonna talk about all our current positions And of course, we'll talk about our day trading. So let's start with that As you all know who have been in the room just go to your live stream room in The membership area We've been using zoom so I just post a new zoom link here with the meeting ID and passcode So that's how you get into the live stream room each morning For those of you who aren't where we also have this schedule down below. So we will be Trading live each morning Every day next week. So look forward to that. We've been having a lot of fun I'm enjoying it starting to hit my stride being able to trade and talk and answer questions at the same time So it's been cool. So thanks for everybody who's been attending and then don't forget down below the calendar are the archived Streams so we've got you know, it'll show today's is the most recent one Then you have a drop-down right here. We can go back and look at all the other Streams that we've we've done as well. So it's just the raw recording So you're gonna see a little bit of a delay at the beginning just for the first 30 seconds And then you'll be into the into the stream So hopefully that helps and I look forward to seeing you all in the stream on Monday morning All right, so let's talk about the markets. I mean this s&p. These markets are just Absolutely insane on the upside. I mean, this is yet. This is spx. I Mean just for the last month and we've had we've had three down days in the last month That is crazy all-time highs Just continuing to escalate now. What's interesting is this week. We actually even with the markets going up We were we're seeing implied volatility Continue to expand now at the end of the day this afternoon implied volatility actually did make a decent Contraction but even earlier today this implied volatility was up in the 60s on the IV percentile And same thing with VIX. I mean if we look at the VIX futures now We did have the roll that happened earlier this week to the new contract But but even with the markets up the VIX has been going up. That means people are nervous people are buying puts people are buying volatility Because they're nervous about this market going up So you don't see too often where the markets up and the VIX is up But that's what we've been we've been seeing in fact. I did a video one of the trade hacker updates earlier this week We talked about that as well S&P's up 21 today Dow up another 159 Nasdaq up 49 Russell up another 10 If we look at gold gold's been just kind of chopping around with some decent size swings back and forth We'll talk about our gold position Been doing some pairs trades on gold and silver. We talked about those in the day trading room those actually Last week worked really well this week not so much just trying to capture the difference between those Bonds moving as well. So when when when bonds had that big flush down and started creep up we we got short bonds I'll talk about our TLT position that worked out nicely on this big drop here Natty gas has been moving up had a little bit of relief today. We'll talk about that so Interesting stuff going on in the markets. Of course, we've got the elections coming up in a couple months The Fed came out with some statements about how they're gonna continue to battle inflation and stimulus. So Keep your keep your methods mechanical stick with stick with your stick with your mechanics It's it's really important when things start to get wild and you know, I know when the S&P Just grinds higher like this It almost feels like you know and if you have iron condors or Calendars or you know things like that and and your your break evens to up to the upside Keep getting tested and blown through and you start questioning those strategies But but look at what the S&P has done over the last month. I mean, that's not normal, right? So you've got to take that into perspective and and that's why it's so important to to trade multiple Strategies I was talking about this in the community You know or so I can't remember who it was somebody was questioning kind of the weekly double calendar You know, should we should we tweak the strategy? Should we change it because it's just not working the last couple weeks Well, you know when you have a situation like this, you know, of course in hindsight, you wish you would have done something a little bit different It's not gonna it's not gonna perform very well, but that's also why we do iron ducks That's why we have you know other trades on and we're we're continuing to lay in other positions So don't change your strategy just because you have a period that goes like this You know, even if you know go back and look at the back tests that we do in each strategy course and And you'll see there. I mean, they're just periods of drawdown and that's just part of any strategy And that's why I think it's so important not to trade just one strategy. So keep that in mind Let's go through the alerts to start and we'll kind of touch on some of those points again Starting with the 24th on Monday putting on a weekly double calendar and SPX I'll talk about the close of that as we get to it rolling adjusting trade in XLK So this is a long put vertical that we've been holding for short Delta So we went ahead and rolled that out from September to October Adjusted the strikes accordingly. So if we look at XLK You can see it's a little outside the range So it's moved up a little bit since we put that on and again same same story with with your short Delta plays I mean if you're carrying short Delta, you know a run like this that we've seen in the market, you know That's gonna that's gonna be painful on those short Delta positions But that's also why you got to keep a balance of Different trades and you know not keep too much short Delta and right now We're about two to one on our short Delta versus our theta and so, you know I like where we're positioned although we've taken some heat on these on these short positions Xbi did a rolling adjusting trade in Xbi. So we rolled out our strangle, which was actually adjusted. It's a 105 straddle We were over 25% of max profit since our last roll in that piece So we just went ahead and rolled that out. We're getting close to 21 days We actually had 24 days. So we didn't want to wait all the way to 21 We went ahead and rolled that out. So let's take a look at where we're at on Xbi now We're up about a hundred and forty dollars since we did that roll. So just continuing to manage that trade Next trade Amazon opened a duck. So we put on a duck in Amazon nice juicy premiums. Ivy percentile is still up at 77 No earnings risk coming into play. So we put on a duck that did this one with 10 days to expiration Let's take a look at that. We're already at max of beak on our beak profit now Still got a problem, you know a chance that it could come back into the duckhead So we're not ready to close it out yet still got over a 28% chance. It could could potentially come back down So just gonna hold this until we get to a place where it's you know, once it gets down to about a 10 or 15% Probability, you know, we may just book that beak profit and move on if price stays here goes higher But always a chance that it could come down So that is Amazon Next trade rolling adjusting trade in SMH. So we got a short strangle in SMH roll this We're down to 23 days to expiration rolled it out to 51 So if we take a look at SMH here Pretty close to where we rolled it price is pretty well centered nothing to do here, but wait Next trade Tesla's we had an iron duck in Tesla price ran higher If you haven't noticed Tesla has been going up every single day So we booked a booked a beak profit in Tesla. Let's take a look at a chart of Tesla T. S. L. A. And Yeah, I mean this thing's been on a rampage now. Remember Monday is the 31st and Monday is when they do their five for one stock split So if you have shares of Tesla, you're gonna have five times as many in your account After the 31st now, I can't I think it's I think it's after the 31st So when you wake up on the first of the month is when you'll see that if I'm not mistaken. So but look at this I mean look at this just parabolic move Pause parabolic move. I mean Tesla's at twenty three hundred dollars. We talked about this a couple weeks ago, but If we look at it a yearly chart, I mean just back in March after we saw the downside of the current Tesla was at three hundred and twenty dollars three hundred and what it hit a low of it a low of 350 is that right? Yeah about three hundred and fifty dollars. Now. It's at twenty three hundred dollars Unfreaking believable. So Elon is getting paid But anyway, we closed that out booked a profit in Tesla SPY another iron duck this one We just let expire we couldn't we couldn't close it out for a big profit early So we went ahead and just let it expire and booked beak profit on that one Gold closing adjusting trading gold. So we've been playing a little ping-pong action with our gold trades. Let's take a look we had a Two different iron condors one had one contract one had two these are in the same cycle But this is the one that we so we closed out the call vertical. Let me make sure here Yeah, close out the call vertical side on this one. So still holding the put vertical side now gold was up 2% today So price was out of range here We closed out the put vertical side and then price came all the way back into range if price makes a little bit more of a move higher And we can book, you know 30 40% of our original iron condor That's what we'll do and then our other piece. We've got the opposite side. So we took off the put vertical side We're still holding this call vertical side as you see here price is just outside the range So if we get a move back inside then we could potentially close that and it you know It's possible if price keeps moving around in gold like it has You know just up and down and up and down, you know, it's a possible, you know, we could book We could book profits in both of those now We've got 27 days left to expiration So if we close out one of those halves, we will most likely come back in and Add a new full iron condor, which you know, so the next cycle is now at 60 days to expiration So we're in our wheelhouse to potentially add some new trades. If we look at the implied volatility I'm gonna look at GLD to get an accurate reading The I mean these are still nice and juiced up premiums We've got IV percentile of 72 so wouldn't mind selling some more premium in gold Next trade TLT so we closed out our long put so I actually just did these as one trade So I we added one I talked about we'd probably add another of price continued higher That's what happened. So we added another one, but I kept it just as one trade So that's why you see on this first close of the 170 puts We classified that as a closing adjusting trade and then the next one was the closing trade because we closed out completely So if we look at TLT, I showed you a chart of bonds, but let's just actually go to the TLT chart So as you know, I think it was right here We added our first put in TLT and then it climbed a little bit higher So we added another one and then this thing just collapsed and that's exactly what we were looking for And we you know, we wanted to basically break the lows here this recent low And so we got out somewhere around in here So great trade in TLT booked like 550 bucks on that one. I think something like that. So good trade there IWM opening trade. So we added a little bit more short Delta and IWM on this climb in the market So let's take a look at IWM. We've got we've got several positions here And it's definitely been the weakest of the indices overall Here's the bunker that we just put on pretty close to where we put it on nothing nothing changed there We do have another bunker And and prices down a little bit but again some still some Good downside action if we can ever get this market to move down again And then we've also got a couple of long put verticals here This one if we get a little bit of a move lower, we'll book that or Or roll that one out and and book that that profit there And then the other one is right here. So price just inside the range So got a decent amount of short Delta in IWM. So would love to see some downside action next week there Next piece SPX weekly double calendar. So we added a another weekly double calendar So we had two at this point and I'll get to the closes here. Oh, I'm sorry This is the one that we added for next week with 8 and 12 days So let's take a look at that That's the one we already closed out Here's the one that we currently have And you can see it's pretty well centered were up about 90 bucks since we put it on but just waiting till next week closer to expiration before we before we close that out Interesting stuff with with implied volatility. So Thursday and Friday. So all day Thursday when the market was up The VIX was up too. I already mentioned this and then Friday this morning the markets were up and VIX was up and so the the Expiration the tent of these was was much higher now it contracted in the afternoon But that's why I was that's why I ended up holding one of these until Friday That expired this week because I mean that implied volatility was was cruising our our tents were expanding So if we would have just gotten a little bit of a down move in SPX, which I was hoping for we could have booked profits in those but Unfortunately, you know late in the afternoon it did contract We went ahead and just just bailed but I was really looking for a potential downside with the implied volatility spiking like it was and I still expect to see some a little bit of downside next week or at least some two-sided action And then a closing trade so it closed out another duck This one we got filled at 102 so we booked a little under beak profit instead of just holding it for another week We went ahead and just close that out Booked basically beak profit on that one A closing trade in SPX so this was the one that we closed on Thursday. Just took a tiny loss on that one and Then in SPY opened another duck today So let's take a look at all our positions in SPY Let's start with the most Closest expiration here. So this one. Let me set my price slices and move it over here So, you know, this is getting to a point where we've got about a 17% chance that this will get back into the duck head So pretty pretty low probability. This one expires on the 10th So, you know got about by Monday. We'll have about 10 days And so this one if price stays right here, we'll probably just close that out and book beak profit We're not gonna wait all the way to expiration. Of course if it runs higher same thing if it comes down Drastically well, then that's another story. We'll we'll deal with that. We'll hold it but that's the that's the plan on that one and then This one here If we look at that this one expires on 917 and so this is the one we just put on so You know still 38 plus percent chance that that one could get into the duck head Be nice to hit a duck head, right? I mean it's been a while with this market just driving higher But that's why we have that no risk to the upside Okay, so then this is an iron condor price is hanging out in the upper end of the range if we look at just the put vertical side You will see we've still got a little bit of premium left in that put vertical But if this thing continues much higher, we will close out that put vertical side and and then see if we can get a bounce back So that's the plan in SPY Ulta so we opened a trade today in Ulta We were actually talking about this in the live stream room this morning where Ulta opened up significantly above It's it's expected move and Then it started pulling back and so we just we just waited first of all the the options were crazy wide in here I mean we're talking I went ahead and did this in the 14 days But I was even looking at the 21-day options when I was looking at the 21-day options I mean these things were four or five dollars wide I mean it was just untradable and you know the open interest not not huge either I Ended up putting this on later in With the 14-day options Where the open interest still isn't great, but the the bid ask spreads Started to tighten up where when we put this on they were they were less than a dollar fifty cents that kind of thing on A $200 stock not too shabby So we went and I got filled right away. So the liquidity The ease of getting filled wasn't too bad here. So we've got this post earnings short put vertical on and we we got this on Price was well, let's look at our analyze tab So you can see we've we're up about 50 bucks on the trade right now So we got in when when price was was way down here Which is good and applied volatility continued to contract a little bit I didn't do a long call on this one just because I mean it's 240 dollar stocks You'd be looking at a couple thousand dollars per so instead we did the short put vertical just like we teach in the course And so now we're looking for a grind or move higher You know steady to higher prices to benefit this and we'll take this off if we get to you know over 50% of max profit Because this is a short-term vertical this theta will start to decay And if we get a move in our direction, it'll start to decay even quicker. So that's the plan in Ulta Oh question I always get here also if if it starts to go against us I mean I wouldn't even be opposed to adding to this if price does get down to here of where it closed Before earnings because a lot of times what you'll see if you do have a big gap like that Sometimes it'll just take off which is more normal But in a situation like this if it does come down to this level here We could consider adding to it adding another one, but we'll see where we're at with everything at that point Or you can just hold this one, but I mean we're doing this as defined risk, right? So, you know if you put on a defined risk trade you almost need to go into that thinking Okay, if I take a max loss, I'm am I am I okay with that in position size that way accordingly? So that's the plan in Ulta Next trade SPX so that was our closing trade in SPX today again price I was hoping for just a little move lower and we didn't get it So we went ahead and just close that one out took a loss on that one. So that's our last trade In in for the alerts. Let's take a look at some of our other positions got a couple of Short Delta plays in ES which of course are not doing well with this grind higher that one's at a range And this one is at a range as well. So need some downside action to get back in These are at 21 days to expiration now We we give these defined risk more time So we're not gonna just roll them just because we're at 21 days to expiration But it doesn't mean we'll wait all the way to expiration week either So we'll we'll be monitoring those and and we want to get back to positive theta as quickly as possible But we also don't want to over adjust if we do get a sharp move lower. I mentioned gold Natty gas Natty gas down a couple percent today, which was was nice We need some downside action in Natty gas prices out of out of our range But if we look at our untested side the puts we still got a little bit Let me zoom in here for you Still got a decent amount of premium left in those put So we're not quite ready to roll those up yet, but if price does continue higher in that gas We will roll those up if we look at the chart. You see a pretty pretty bullish Move that we've seen in that gas Bonds obviously we talked about the TLT position We took some nice profits in but this is also this is our short strangle in bonds Which is has been adjusted and so prices hanging out right here If we look at just the untested side the calls you can see we've got a little bit of premium left to go here So if does price does continue lower, we will roll those calls down, but nothing to do here at this point Apple we've got a long put vertical in Apple which is busted out of the range with Apple strength holding this for that short delta exposure So we will we'll look to potentially roll that If price continues higher Amazon I mentioned our duck John Deere kind of the same situation as Apple. I was looking at potentially rolling this one today One thing I wanted to point out in John Deere. So we're at 21 days here. I was gonna roll out to October one One issue is we're currently in five point wide strike So if we do roll out we'll be looking at ten point wide strikes because we'd be looking at these ones here They get down to five point wide strikes as you go lower But the ones that we would roll to are ten points wide so we can do a couple things we can either We've got two contracts so we can either do one of two things We can roll and and use two contracts and just go to a ten point wide But that's going to increase our buying power that's going to increase our our overall position size because it's ten point wide Wide strikes instead of five or if we roll we could just roll and and shed one contract And that would keep kind of a similar amount of risk similar amount of buying power And roll out to the next so we'll look at doing that next week We'll obviously send the alert and kind of explain that in the comments DIA Got some short Delta here. We've got a couple of sets of short call verticals out of the range there and Just barely out of the range on that one. So looking for some downside in DIA. I mentioned IWM Cues kind of a similar situation. We got a couple sets of short call verticals that are taking some heat and Then we've got a bunker trade in cues. I'd also like to add another Bunker in the cues next week if price continues higher I've been talking about this. I think if this thing this market really turns down I think it's got to be led by tech tech seems unstoppable now, but trust me when when this When this turns tech is going to probably lead the way down. So it may look at adding another bunker in the cues Let's see what else we got X B. I mentioned an XLK. So that's it. We've talked about all of them So those are all of our positions. Those are all of our alerts. Oh, it's gonna I got a little bit more to talk about on the day trading front So let's go to so I'm gonna have a better way of kind of displaying our Tracking of our day trades by next week. I've been working on working on something here with one of our members, but So weekly total of 168 dollars, that's our grand total on day trading So not not as good as last week when we booked over 4,500 but still green nonetheless our mighty 90 trades Ended up about minus 325 on the week and then I don't have the details on the pairs trade I didn't have time to prepare them and I have to run but well, like I said next week We're gonna have a little bit more Detail and it's gonna break it down by strategy And so it'll be nice and clean and neat and just how you guys like it. Hopefully so That's the plan there and then we also have been been doing we've been talking about this in the live stream So if you haven't been in the live stream Make sure you're there because you're getting kind of a sneak peek into some of our well our pairs trading But then also testing what we're calling runners Which is more of a kind of a continuation play on on some of these some of these stocks that have just been Monsters to the upside and we'll use them to the downside too if we if we get to a point where the where we get into a bearish type market, but These have been working really well And we're trying it. We're just kind of putting some skin in the game I you know the best way to learn how to trade is to actually put some skin in the game now paper trading You always want to start and just like we teach in the day trading class You know we're talking about 100 day trades With paper trading before you trade with real money and I still advocate that but I also Advocate staying super small and actually having some skin in the game when you first start out So that you pay attention and that's that's exactly what we're doing with these runners We've got a good feel for for how to trade them But there's some criteria that we're still kind of working out on our exits both on Closing a profitable trade as well as closing Trades that go against us. So that's a little bit of a work in process progress But you know once we kind of get it down Then we'll put some definite criteria to it and push it out to everybody in the form of a more formal presentation But if you're in the live stream room, you're gonna be seeing a CNS doing this live testing live And so that's what we've been doing. So we're including those numbers in the P&L because that's real money being traded But we'll have this broken down. So you have a better idea of of the performance of mighty 90 versus pairs trades versus runners and and some of the though there's at least one more day trading strategy that we'll be coming out with here here very soon. So That's all I got for you. Hope everybody has a fantastic weekend Monday morning 8 30 a.m. In the live stream room look forward to seeing you a bunch of you there and If not have a great weekend. We'll talk to you soon


Thank you. Thank you for my introduction. Good afternoon. My talk is about a programming hash function from lattice and its application to short signatures and IBE with small key size. This is a joint work with Jiang Zhang from State Key Lovers of Cryptology and Eugene from State Key Lovers of Information Security. This outline of my talk, firstly, I will give an introduction to a program of hash function and then they will define the structure from lattice and set a particular application to signatures and IBE. First, program hash functions is a key to group hash function which map group set X to a group G. This function has two modes. The normal mode, first, there is a HG algorithm which generates a key. And then with this key, there is a HVALU algorithm which maps an element from this set to an element from this group. This is a normal mode. There is a chip down mode, which the algorithm HG algorithm takes as input G and H which are generators of this group G and output key prime together with chip dot TD. And then the HVALU algorithm takes input this chip dot TD and maps this X to a pair of AX and BX such that the HVALU with the key prime on this X equals to G to AX times H to BX. Of course, it requires that the two modes, the key generated should be statically closed. And we see a PHF is a UV PHF if for any X1 to XU, where 1 to YV satisfying XI is different from YG. And the probability of AXI is 0, while AYG is not 0, is bigger than 1 over poly for some polynomial. A PHF is useful when the discrete logarithm is harder over the group G. For example, we assume the discrete of log HG, X is unknown. Then the problem we consider is compute Fx such that the HVALU Z equals to H to the power of Fx. This problem is computationally feasible in the normal mode. She says it's actually computed as a discrete logarithm. But in the tributary mode, we have Z equals to this value for some unknown AX and BX. So if AX is 0, then the problem is easy. She says Fx is just BX. If AX is not 0, the problem is harder. She says Fx equals to AX times X plus BX with unknown X. So the magic problem for secure proof of PHF is that both the probability of AX equals to 0 and AX not 0 are noticeable. So in this case, it's useful for simulator security game. And the second case is useful for inbinding harder problems.  The PHF was first introduced by Hopkins and Kils in crypto 2008. They also constructed 2.1 PHF and left an open problem to find this PHF in the lattice-based contract. And in Hopkins and Kils, then in 2011, they used a cover free set to construct a U1 PHF. And in CTRC, Yamada, Hanaka, and Kohliya combined two dimensional cover free sets with the bilinear groups to reduce the group elements. And in crypto 2012, Hanaka showed that it is an impossible to construct an algebraic U1 PHF of a primal order groups in a black box way such that its key has less than U group elements. And in crypto 2013, Freya constructed a polywine PHF from multi-linear groups. And in crypto last year, Carolina introduced a symmetric PHF over bilinear groups. In summary, existing PHF constructions seemed specific to DL groups. And it was still unclear how to essentially to PHF from lattice, for example, with which groups and with works with which hard problems. So this work, we give a formalization of lattice-based PHF by considering the algebraic properties of lattice and aimed at capturing the partition proof technique of PHF. We also gave a two concrete construction of a lattice-based PHF. One is actually abstraction from existing constructions. And the other is a normal combination of lattice and a cover free sets. We also give a generic construction of signatures and IBEs, additive-based encryptions, which provide a way to unify existing schemes and also give new and efficient constructions. Now we move to the next part. As we know, for matrix A and a vector U, we can define the two lattice. And there's a six problem called a small integer solution problem. It says that given matrix A, find a short 9-0 vector S such that S equals to 0 modulo q. And a homogeneous six problem says that given A and U find a short S such that S equals to U modulo q. Both problems are as hard as the SIVP problem in the worst case as we showed at high GPV, et cetera. And we see a matrix A is a trapezoidal matrix. If there exists a known trapezoidal that allows an efficient algorithm, sample D, to sample short vectors from these lattice. In the paper, we use the MP trapezoidal, which for k equals to log q, there is a public known trapezoidal matrix G together with a function G inverse set to the following two conditions. Also, we use some other useful facts, could be the literature. The first one is there is an algorithm or chip G that out of the almost uniform matrix A together with a trapezoidal of A. The second fact is that for NAB, if A is a trapezoidal matrix, so does A can connect it with B. A and B also has also in the trapezoidal matrix. The third one is the A for NAB and a small R and a invertible S, if B is a trapezoidal matrix, so does this matrix. Now the definition of the structure from lattice is either a keyed hash function which maps a set X to a Zq to a n-type m. The normal mode is Euron. First, the HG now generates a key key and then there is a H value takes the input key on X and my output is Z, which is a matrix in Z set. In Z set and in the trapezoidal mode, we need a uniformly random matrix A and a trapezoidal matrix B. The HG algorithm takes the input A and B and output a key prime and a trapezoidal TD. And then with this TD for any X in Z set, it maps to a output of X and X which are two metrics such as that the output is equal to ARX plus XB. Also, we need a statical closed case in the two mode. Should be statical closed. And we define UV, PSHF, if for any X1 to XU or Y1 to YV certifying XI different from YG, the probability of SXI is zero. Well, SYG is invertible is no less than one over a polycat for some polynomial. This is a definition of a lattice-based PSHF. Then we give two constructions of PSHF from lattice. The first one, let E be a deterministic encoding from a set X to this vector of metrics. The HG algorithm first randomly choose an L plus Y matrix and output them as the key. The HE value algorithm simply first maps the X with the encode into a matrix C1 to CL and then returns Z equals to a zero plus the summation of CRI for I from one to L. Actually, this function has actually been implicitly used to control both the signatures and the encryptions. Our second construction will use a V cover free set over this domain. This domain means the set of numbers from zero to M minus Y. A family CF, each element is a CFX, which is a subset of an X is taken from this set. This family is a set of V cover free if for any subset of L and the size is no more than V. Therefore, all Y does not belong to S. CFY is not covered by the union of CFX. And the CF is a set of eight uniform if each element has a set of eight. For example, for N equals to five, this CF is three uniform to cover free set. And it has to be showing that there is a deterministic activity algorithm that on input into your L and V returns an eight uniform V cover free set for this N and eight. The key idea of the second type two construction is notice that a V cover free set actually give a partition of L either since that for any S subset of L, as the size is no more than V, and Y does not belong to S, then there exists an element of this star in CFY and this star does not belong to the union of CFX. Since CF is defined over this domain, if we assign a unique key material for each element in this set, it seems safe to embed some trapdoor by guessing the target element of this star. However, such a direct user will result in a key size which is proportional to N as this is even worse than the type one construction. Our solution is to use the binary representation of A and let mu equals to log N for every one from zero to a mu minus one we assign a matrix for the S proposition. To do so, we define a function factor kz i which is defined by if i equals to mu minus one, the function equals to a mu minus one, minus b mu minus one g, and otherwise it equals to a i minus b i g times g inverse from kz i plus one, by this, this inversion. And then for the binary representation of z, b zero to a mu minus one, we can define this function and we get we just construct a unique matrix as a factor kz zero.   So for this, if z is different from z star, then we have there is always one term equals to zero, so s z is zero. If z does not equal to z star and if z equals to z star, then we can deduce that s z equals to a minus one to the power of z times i n where z is the number of ones in the binary representation of z star. By this binary representation, we can deduce the key set to log n and by this factor and s z has this form, we can keep the partition property for P H F. So here is a type two construction of P H F from lattice. Here mu is equals to log n and equals to log q. And the SG algorithm first let me choose a hat and a i from this set and return the k equals to a hat a i for i from zero to mu minus one. And the actual value algorithm take a input on x and run returns a hat plus sigma from k z zero for z for z z c f x. We can prove that actually it's actually a one way P H F that is for a random z star from this set if a i is set as before and set a hat equals to this form then we have s x is a zero and s y g equals to this form who is probably no less than y over n for any y v and x does not belong to different form of y g. This is simply because the cover free set who we have just mentioned before. So let me show how to apply P H F from lattice to construct a signature and an identity based in cryptic schemes. A signature scheme will consider three parts the first is the k gene algorithm. This algorithm will first run the chaff gene algorithm to output a matrix A together with a chapter R. Then we run the h gene algorithm of the P H F and get a key kai and we also need a uniform vector u and a return a kai u as a verification key for the signature scheme and R is a secret key. From this construction we see that the key size is essentially determined by the size of the P H F key. To sign a message M we first run the h value algorithm on the message M to get h k M and then we construct the AM as this form. Note that R is a chapter of A so we also have a chapter of AM. Then we can run the sample ID algorithm on AM and u to sample a short vector e and return this vector as a signature. To verify a signature we also run this h value algorithm and get h k M and then we form AM. And then we check whether the norm of e satisfies this condition and AM times e equals to u. This is a verification algorithm. We see that the signature is a single vector and the verification key if we apply the second a chapter of our previous construction then the verification key is actually a log n. The correctness for the fact that if A is a chapter matrix so is the AM is also a chapter matrix. And for the secret proof we actually remember that for our construct the U-chapter model we have that h k M is actually AR plus SB for some small R. And for the sunny queries we have that this S is invertible so we can generate signatures. And for the forward message this S is actually zero. Therefore we can solve the e homogeneous problem by the chip-down. Next is application to add a bit encryption. IBS game will consider a false algorithm. So firstly a setup, this algorithm also first run the chip-down gene to generate a matrix A together with a chip-down R. And then we run the h gene algorithm of the PHF function to generate a key. And then we also generate a matrix U from this set.  Also the master public key size is determined by the size of the card to extract a secret key for an entity with ID. We first run the h value algorithm to generate h k ID and then we form the ID as before as a signature scheme. And we can sample the ID with this R and the ID and return h k ID equals to the ID. And to encrypt a message M, we first run to the S and sample X0 and X1 from these two distributions. And they use this chip-down algorithm where A is here, a B is a sum of chip-down matrix and get a key parameter and a TD. And then by this chip-a value algorithm on this input ID, we get R ID and S ID. Then the safe text C0 and C1 is formed by this form where C0 is a UT S plus X0 plus Q over two M. And C1 equals to AIDS plus X1 and R ID X1. And we have this C as a safe text. To decrypt a safe text, we simply compute a C0 minus the EID C1, which is a B for this vector. And each exponent, we compare the BI with Q over two. And then we can get to determine M is zero or M is one. And the correctness is the same as before. But the security need a high-mini entropy properties. We require that the key and key parameter is closed even conditional on this knowledge. And we also require that Rxv is closed to a uniform, if v is selected uniformly. This guarantees a programmability property that still holds even if the term, this term might leak some information of the TD. Okay, conclusion. We present the formulation of lattice-based THF and give a generic construction of a signature and an IB from lattice-based THF. And we also present a new signature and a fully secure IB with small key size using our type two THF. These people also give an improved signature scheme by combine different THFs. Okay, that's all. Thank you for your attention.