The first Australians, the custodians of the lands and waters on which we meet, and for me that's the voluntary people of the Kulin nation, and I would like to pay my respects to elders past, present and emerging.  So the focus for today is the data availability and transparency scheme. And first of all, well, I'll introduce myself. I'm Keith Russell and I'm manager engagements and expertise at the Australian Research Data Commons. As we've been engaging and talking to universities around Australia over the past few weeks, we've been having some questions around about the data availability and transparency scheme, and especially some questions around what does it mean for a university to be accredited as a data user? So as these questions came in, we said, well, actually, maybe worth having a webinar around this and ONDC has been very, the Office of the National Data Commissioner, has been really kind and was very happy to take that on. So we are very excited to have them here. Initially, the question went out to institutional underpinnings, group of 25 universities we're engaged in a project with. But we thought we'd broaden this out to all universities in Australia, and the invitations gone out to all those universities. So I hope this is useful to get a sense of what's involved, what does it look like, and if it will give everybody a chance to ask some questions too. So I'd like to hand over to Susan Calvert. And Susan Calvert is Assistant Secretary, Strategy and Delivery at the Office of the National Data Commissioner. So I think she's definitely very, very knowledgeable on this topic. And it's great to have your time, Susan. And thank you for being willing to deliver this webinar and discussion around the data scheme and what's involved. That's great. Thank you so much, Keith. And thank you so much to the ARDC. We've been terrific partners as we embark on this journey to make data sharing much easier for universities. So really keen to hear your feedback today. We have a short presentation and we're happy to share these slides with you and really keen to take questions along the way. Or at the end, we'll have plenty of time for questions, Keith. So we'll just get started. So our agenda for today is really to talk you through the data availability and transparency act and how the data scheme works. We're also really big to focus on accreditation and how accreditation how people can become data users under the scheme. What are some of the benefits of accreditation and the process of getting accredited and we'll also demonstrate the data place system that will help you do this and look forward to hearing your questions. So just as a bit of context, the Office of the National Data Commissioner is here to help you. We really focus on four areas, supporting data sharing for public benefit, building data sharing capability right across the public sector and with a national approach and operating effectively and efficiently as a regulator and educator on data sharing. And finally, to build trust and transparency and data sharing. So there are objectives. The reason that we've developed this data availability and transparency act is to unlock our national data assets. So the Productivity Commission in their report in 2017 found that we were really underutilizing our data assets and that there was really real public benefit that could be achieved by using them. So there are also a whole bunch of barriers to data sharing. And I know the researchers on this call will be very familiar with that. What users told us was it takes too long. It can be a two, three year process for a complex integrated data sharing project to get all the players on board. Universities told us they felt like they were at the back of the queue when trying to access Australian government data. They told us it was actually hard to even understand what data assets the government held. So what we've we've really worked to overcome all of those barriers and what we're about is really research and innovation and data sharing that improves government service delivery that informs government policy development and program design and also supports research for public benefit. So that's the purpose and why we're doing this. Just on the next slide there, you can see how the scheme operates and this is how the whole legislation operates on one page. So I won't go into it in a lot of detail, but happy to take any questions on this later and you can see in the middle there that there's three main participants of of the data scheme. The first are users, the data users that and we're seeking accreditation for those users to be able to operate in this scheme and people who can become data users include all Australian universities and researchers within those Australian universities automatically can access the scheme once their university has become accredited. We also have accredited data service providers. So these again can be universities and Commonwealth, state and territory government bodies. And the purpose of data service provided is to provide data services such as complex data integration, data de-identification and provision of secure data access. So think of the ABS data lab as one of those. We also have the data custodians who hold the data at the moment and look after the data. And these can be these are all Australian government agencies. So data held by Australian government agencies is included in the scheme. Of course, there's some that's excluded and we can go into more details on that as well as the legislation. We have the National Data Commissioner, Gail Mills, who is the regulator of this scheme and her office that that I sit in supports her in that role. We also have the National Data Advisory Council, which includes some government members and also some independent members who give us advice on administering the scheme. And you can see around the outside of this diagram, a lot of white boxes that contain the scheme safeguards. And so we'll go through those very quickly. Just data can only be shared for certain purposes that we've been through. Accred data users will be accredited through the scheme. The data custodians are not required to share, but they must provide reasons if they refuse to share. And so the government is really setting up here to share wherever possible the data, and this is giving universities access to quite sensitive and personal information that data sets that have in some cases have never been shared before. So it really is opening up information and that can be used for new and innovative research. All data sharing will occur according to our data sharing principles. And so they're the evolution of the five states. They're looking at project people, settings, data and outputs. And when Julia talks to the accreditation process, she'll show you how we're dealing with those at the accreditation stage or some of those. We also, of course, are aligned with the privacy legislation. We're aiming to continue to protect privacy in line with existing legislation. And other safeguards on the right-hand side there include data sharing agreements. So all data that gets shared under the data scheme will occur through a data sharing agreement. And we're really about transparency here as a way of building trust in the public that this data will be used for good and be kept safe. And our transparency and reporting requirements really involve registering data sharing agreements and keeping registration of accredited users and accredited service providers. And we'll also be doing an annual report. And finally, up the top right there, the commissioner has a regulation and compliance role. She can actually handles complaints that occur. And we also can issue directions and seek civil or criminal penalties. So it's a level of regulation that hasn't existed before in data sharing. And it's intended to keep the information safe and make sure everyone follows the scheme. So down the bottom in that blue bar, we also have two projects that really enable the data availability and transparency act scheme. And first of those is data discovery. And this project, my office runs and they working currently with 18 Australian agencies just to help them discover their data assets. Obviously, the first step in sharing is knowing what data you have. And we are building data inventories in a consistent way, working with those 18 agencies. And we're extending that program to 35 agencies over the next year or so. And the idea there is to have a list of data assets that are held by agencies that will then be searchable through an Australian government data catalogue, just making it much easier for researchers and users to find the assets that we hold and who holds them. The second big piece that we're working on there is data place. And this is an IT platform, which actually helps you through all the steps involved in participating in the data scheme, but it also is there to help you with all data sharing. So even even the current data sharing that you're doing can now be done through data place. So this is a will Jesse in our team will be providing you a demonstration of how this works if you were to seek accreditation. But it really is a tool to take you through all the steps of the data sharing agreement process. So I think that's an overview of the scheme and how it operates. We'll just now go on to the next slide, which is moving to Julia. Do you want to sit here, Julia? Then you'll be able to, everyone will be able to see you. And just I just introduced Julia, who actually heads our accreditation team here at the ONDC. And Jesse, who works with her, who is doing all the hard work accrediting agencies at the moment. And we have interest at the moment from 10 participants in the scheme who are seeking to get accreditation as a data user. Just going to a little bit more detail about how accreditation works and the benefits of that. So hand over to Julia. Hi, everyone. Thanks, Susan. So talking through some of those benefits of being accredited. So as Susan mentioned, being accredited in to participate within the scheme allows you. It gives us a legislative override for data sharing under the data scheme. And it gives us a streamlined, consistent terminology and risk management approach to data sharing, particularly over the tools of data sharing agreements. We also data place provides a single platform to manage and manage your data requests and track data sharing agreements. Another benefit of being accredited, particularly as a unit as a user, is that data custodians must provide reasons to accredited users if they refuse to share with you through your data request. So they must provide you a reason as to why they won't share that data with you. ADSPs are highly skilled in managing data requests and DSA processes, and that's also a role that's available within the scheme. Susan mentioned a number of the transparency and transparency mechanisms around available under the scheme, such as the registers, the annual report, etc. So where the commissioner has that regulatory oversight and is able to overview those processes. The accreditation is also can be a really useful prompt for a lot of organisations to focus on your data maturity. And because it does, accreditation occurs at that organisation level. So it really gives that organisation opportunity to really understand where their data maturity is at and areas where they may need to improve. I might go to the next slide. So I mentioned a couple there. Accreditation is only Australian state, territory, government bodies and Australian universities as defined in our Act may apply or become and apply for accreditation under the scheme. Any foreign entities and some Australian entities are also excluded from accreditation. Accreditation occurs, as I mentioned before, at the organisation level. So that means when you apply for accreditation, it's the whole organisation that's applying for accreditation. It's not an individual researcher, and it's not an individual business unit within the organisation. The safe sharing of data is a two step process with the finer controls being applied in the data sharing agreements. So for user accreditation, we focus on the of the five safes. We're focusing on the people and the settings in accreditation and all the finer controls around the the project, the type of data, etc. is considered is looked at through the DSA process. Essentially, the Act provides three main criteria for both users and ADSPs and then a fourth extra one for accredited data service providers, which relates directly to the services that they could be providing. The first of the criteria covers appropriate management and governance policies and practices as appropriate. And the second one covers the risk managing the risk of unauthorised access sharing or loss of the data. And that really focuses around your ICT settings and how you keep data secure. And the third one focuses around the skills and capability within your organisation to ensure that the appropriate use of the data and that the organisation has that ability to manage the risks in relation to those matters. And then with ADSPs, as we mentioned, the three main services there are a de-identification data service, a secure access data service and a complex data integration service. I'm going to go to the next one. So user accreditation services a gateway into the scheme and ADSP accreditation is that expert intermediary to support safe data sharing. Just a couple of the differences between the two. The user accreditation allows you to make data requests under the scheme, but it does not allow the right to access the data. User accreditation is either granted by the Minister or the National Data Commissioner. And accreditation can be granted with conditions. So that's where we can allow if a organisation, for example, says that they never actually want to receive data or hold data within their own systems. We can still accredit you with a condition that you never receive data and that perhaps you always use an ADSP and a secure access data service to access the data. For user accreditation, once you are accredited, you are required to update any relevant information to your accreditation regularly. However, there is no requirement to renew your user accreditation. It's a continuous accreditation. For ADSP accreditation, it will be the National Data Commissioner making that decision. And once again, that can be done with conditions and perhaps that might be around the services. So if an organisation doesn't have, doesn't want to provide secure access data service, they just want to focus on complex data integration service, perhaps we could limit their accreditation to only providing complex data integration. Another difference with ADSP accreditation is yes, they are required to update their information as relevant as it comes relevant to your accreditation, but they also need to renew their accreditation every five years. And another important thing to note, it's a one organisation may be accredited to be both a user and an ADSP, because they are very different roles in the scheme, which brings me over to making an application, which I can get Jesse to talk through. You're able to introduce Jesse. I'm going to try my best because I'll be sharing screen from a different laptop. And you can see me here as well. Show you what the down the place side looks like. So that should be working soon. And it's cool. You can see that. So this is the other place. Once you first get on, this is the homepage that you can see before you are authenticated onto the place.  You can sign up to our newsletter as well. To get into the place, you'll be logging out as part of your organisation. So on the top right, you click sign in. And this will take you to the signing page, which has three authentication methods. Since we're a university, we should be familiar with the Australian Access Federation, which is what the university will be using to get onto the down the place. So after you click through the eighth method, once you log in, you'll be logged on to the down the place. And this will be similar to the page you will see, which gives you a bit more options once you authenticate on the down the place. So I'll just go through quickly the accreditation and what that looks like. So to get started, you just want to scroll down and click apply for accreditation. And here you will see a bit of information on what accreditation means and two types of accreditation, both the user and the data service provider. There's some supporting documents available on the down the place and also on the R&D website, which I'll show you in a bit. This for both user and ADSPs is a checklist that you can look through before you start anything on down the place. That will just help guide the organization through each of the steps that you need to take before you are mostly ready for starting the application. As Julia mentioned, the accreditation purposes have a whole of organizations. So if you're, I guess, a researcher, you probably don't need to worry about applying for accreditation. But for those of you here that I'll just take you to what the user form looks like. And I'll go through the ADSP form very quickly as well after. So it's the user is a series of smartphones or a series of screens which can click through to answer a series of questions. There's a lot of questions in the applications, so it takes a lot of coordination within the organization from the different areas of the input as well. So just to show you very quickly, there's some information about the organization, including the authorized anti-contact officer for the organization. And then just a bit of detail to guess some of the information will be pre-filled based on your authentication method as well, or you can just enter in your own details. A little bit about the organization. I won't go through detail because we'll send through the documents and the links after. So that's all available online. And a few questions about the organization. And then, as Julie mentioned, there's three main criteria that we look at for accreditation. There's data management and governance. There's the minimizing risk of access. And there's the skills and capabilities of the organization. And these three criteria are loosely mapped into the three criterion here you can see on screen. So you've got data management and governance, security, and skills and capability. But there is no one-to-one relationship between the application, the criteria, and the questions. So we tend to look at the application for the organization as a whole and see how the organization measures up to each of the criteria. So in the questions, there'll be some context in questions such as the volume of data holdings for your organization, the sensitivity of data, and the subject matter. A bit which some of you may be familiar with that looks like data maturity questions. So just knowing the type of data you hold. This was sort of a sales assessment. And then there's the sort of factual model of choice, how your organization deals with personal information, and what sort of roles you have. For security, I just want to show very quickly, it's a smart form. So depending on how you want to hold data, your question may be very short. If your organization is not intending to hold data within your own networks, so you do you would like to use a secure access service. If you just select no, then that's it for the section. But if you would like to hold data, there's a few more questions you need to answer. And for universities, we don't expect there will be protected networks. So if you want to hold data, you have to enter a lot of details about your own security settings. And skills and capabilities, it's a bit more of the same type of questions. A bit about the data roles, and a bit about the data access and the manipulation methods. And just sort of the HR sort of processes and training available there. And then to when you complete your sections, there will be the consent declaration, which is for the authorized officer to do, which is defined under the data act. So we will have guidance coming about who can be an authorized officer as well. So once you fill all that through, you can review your accreditation, the cases that you started on your managed accreditation page as well. And you can sort of click through or delete or withdraw your accreditation as well from this page. We do want to say that we do caution you before you start accreditation, because once accreditation is started, there's only a limited amount of people that can access the accreditation. For user, it's the person who started the application, the authorized officer listed and the contact officer listed. So you want to make sure that you are the correct person to be doing this on that plate before you want to enter into this. And for the data service provider application, it's only the person who started the application can access the application. So if you're interested in what the forms look like, without getting into it on the other place, there will be documents such as the checklist and also a sample form. This is a user sample form, which has all the details for all of the questions. This is only a guide, because based on how you answer the questions, the database will show you a different set of questions as you saw there with security. So it's a very quick flixer of what the guidance looks like. And there's also our help page on the RNDC website, which you can also find this information without you needing to authenticate on-through data place. I might just wrap it up there and then pass it to Simon. Thanks so much, Julia and Jesse. Hopefully that shows you the process involved very clearly and the data place tool and how that can support you. I just wanted to raise a couple of things. Data place is there to make your life easy. And a key point is that it doesn't affect any of the current data sharing agreements you have in place. They can continue as is. This is just an opportunity for the new agreements to be set up in a way that makes it easy for you to track them down the track. So as a university, you can look at all the current requests being made, where they're up to, how long they're taking, and just makes it a little bit easy for you to manage those in an ongoing way. So you can have oversight from the monitoring once the agreements are made. The other thing that we can do is it really streamlines the process and takes some of the pain out of actually going through a data sharing agreement process because it's doing a couple of things. It is asking the relevant questions, so being clear about what we need to know to set this in place. And it can be used for all of your requests of the data for government, whether it's under the data scheme or whether it's the data sharing similar to what you're already doing. And if you request information of one agency or there's multiple custodians involved, you can do it all through the one request rather than having to do a new request because that's not the agency that has the data. So that just makes it a little bit streamlined from your perspective. And it also would generate automatically a data sharing agreement based on the information you've provided about the project. So it just means the first draft of the data sharing agreement is automatically generated. It means all agencies, government agencies across Australia are using the same clauses and the same approach. And so it just builds that consistency so it's not something different every time. So we're really hoping there's some benefits to universities in working through data place. And thanks so much for that excellent demonstration. I'm just going to hand over to Simon Galant, who's a key member of our team who heads a stakeholder and engagement branch and he'll just be talking through the next steps of, and where we're up to with the data scheme rollout. So I'll hand over to Simon. I'm going to jump here. Simon, let's see. Thanks, Susan. Hi, everyone. Just quickly run through what we see the operations of the scheme looking like over the next few months. You can see from this slide that we've been working pretty hard on engaging across all our spheres of participants, particularly the government, Australian government and the university sectors. The scheme is now well and truly open for business with everyone being able to apply as of the 1st of August this year. So if your organization is keen to apply, you can now definitely do that. There are no timeframe barriers there. To help you get informed about what you need to do, we're continuing to run information sessions. There's some high level ones that are suitable for anyone who just wants to get a bit of background on the scheme and then we run our long sessions not dissimilar to this one on how to get accredited and we'll be standing up some soon on developing data sharing agreements and some of the more complex parts of the act. We've also just wrapped up our first round of public consultation on some subordinate legislation, so ministerial rule on accrediting integrating authorities and data service providers, as well as our public consultation on our data code, which is the code of practice for how we apply data sharing principles and manage some issues around privacy. And there'll be some more, there's more consultation now on the register of accredited data users and the evidence that we require for users and service provided accreditation. Susan's mentioned data place a few times and Jesse gave you a run through how you use data place to apply for accreditation. Data place is an ongoing piece of work that we're still developing. We'll be working on, or we are working on how to get organizations actually making data sharing requests and coming up with data sharing agreements at the moment, hoping to release that functionality towards the middle and end of October. And then there's another nearly two years of funding that we've got to progressively improve and enhance data place. So if it's the sort of tool that your organization is interested in using, it's a really good opportunity to get on board early and help us understand what the requirements that our users really are going to be going forward. Lastly, one of the things we haven't spoken about much today is the data inventories program where we're discovering agency data assets across the APS. So in August, we'd already initiated 15 projects to create data inventories across the public service. I think we've already got four or five more now just in September. And we're starting to begin the development of this searchable Australian data catalog based on some user research that we're doing. We're expecting to have more than 20 data inventory projects underway by the end of this year and a beta version of the catalog towards the middle of next year. So those inventories will give anyone who wants to opportunity to search through lists of the data assets helped by Australian government agencies and search the catalog for those. That'll include information on how to request access to those data assets, particularly if you're an accredited user under our scheme and using data place to make that request. And that brings us pretty much to the end of our presentation and I will open up to questions. And there's many of us here in the room so you can ask any kind of question you'd like to and we will answer as best you can. If we maybe start by taking questions in the chat and I can pass them on so we get a sense of how many questions we're going to get. And while people are putting questions into the chat, thank you very much. And thank you also very much for juggling technology and taking turns behind the screen. I can imagine that security sometimes can add an extra complication in presenting. It was a great presentation and really interesting. So it gave a really useful overview. So how are we going for questions in the chat, Nicola? Nothing I can see as yet. Getting some music, yeah. Apologies. No, it was lovely and it gave us time to think. Thanks for the music for you there. It was brilliant, very effective. Where can we find more guidance on the various roles relevant for user accreditation? Has this been developed or still to come? There's a couple of places. One is when you go into data place, there's actually some information there that will help you through the steps in the process to become accredited. And the second place is our website. Do you want to tell people the address? Which we can put in the chat. datacommissioner.gov.au And there is quite a lot of information on that website and pointing through to data place to find out information about those roles. Is it alright if I ask a clarifying question? Yes, on your question there, the various roles needed to get accredited. So the criteria specifically focuses on a requirement to have an individual within your organisation who is responsible for data governance and management within your organisation. And so you'll need to demonstrate that that person exists in your organisation, that they're in a reasonable position to lead your organisation in that role. And part of the requirement is that they are qualified to do that. So there's an element where we need to know a bit about that individual that comes through in the application form. Apart from that, to be accredited, that we don't need to know anything more about specific individuals, that just that your organisation has those appropriate data governance and management touch structures in place. And it could be committees as well. Thanks, Julia. And Jesse's just put the link in the chat so you can find the information on the website. But also, of course, we're here to help. So give us a call, send us an email. We're here to help you get through the process and make it as fast and easy as possible. Awesome, thanks. Okay, the next question. Is there a specific order that universities need to get accredited, i.e. user first and then data service provider? No, not at all. And what we're working to do is to streamline that so you could apply for both at the same time. Obviously, the standard of data capability and data security that's required to be a data user is not as high as it would be for a data lab kind of situation. So it is a faster process to become a data user than it is to actually become an accredited data service provider. So if you wanted to stagger it, your user accreditation will likely come through first. And just to make clear too that they are two very separate roles, the user accreditation allows you to receive and use an access data under the scheme and then ADSP is an expert intermediary to allow that data sharing to occur. So each data sharing agreement must have a data custodian and a data user, but an ADSP is an optional participant within the data sharing. Okay, thanks. How does external collaboration take place with those who do not have a user accreditation? I, Australian collaborators and overseas collaborators? That's a good question. So at the moment, our data scheme is limiting in terms of its participation just to be Australian government, state and territory government and Australian universities. Now, that doesn't mean that we can't involve researchers from outside of those boundaries. So as long as an Australian university is taking the lead on that. So for a particular data sharing project, just as you have now, you can have people from outside the university participate on your team. But for example, if it's a foreign national researcher, they'll go through an additional level of scrutiny as part of signing off on that project by the data custodian. So, yes, there are ways. And we can also have the private sector participate in a contractual way with the university. So there are ways to have that happen, but essentially the university will be the lead and taking the risk for that project. Oh, thank you. Will data place eventually be the only way to access APS data? Absolutely not, but we're hoping it'll be the easiest way. It doesn't affect your existing mechanisms. We just know that some of those haven't been as easy as they could be, and we're hoping this will significantly speed things up and simplify the process from a data user's perspective. Well, thanks. Okay, great overview. Thanks, Mrs. Persson. Do you have a feel for how long the accreditation review process will take? What's an application has been submitted? Yeah, we're aiming for it to be close to six weeks. Of course, that depends on... There'll be a stop the clock kind of process if we don't have the information required to make the assessment. But what we're trying to do is make it as easy as possible. But thank you for everything that you have readily available now and then tell you if we need anything further. So we're trying to make it as streamlined as possible and use documentation that already exists and that the data users already have. But to date, we haven't actually completed an application, so we'll be having a much better idea of how long it takes once we've done a few. So, yeah, we don't think it's going to be an overly time-consuming process from your side or our side. Fantastic. Is data available to university students, PhD or higher-degree students? Do you want to answer that one? The short answer is yes, if they're part of a project that's being led by a professor or a key researcher who is an employee of the university. But the university's requested that we didn't allow access to all students just because obviously they're taking responsibility for the students and if they were to lead a project on their own. But they certainly can be part of a research project that the university is leading. Yeah, I wouldn't have anything more to add to that, Susan. Thanks. There's a specific part in the Act section that talks about designated individuals which covers that off, but that's about, yeah. Sure, thank you. Okay, knowing some government groups have commercial partners who assist in maintaining or hosting data and others may still be setting up technology to share this data. Will there be information on costs or technology needed to access associated with the data sets in the data inventory or discovery platform? That's an excellent question. Thank you. From the cost perspective, we are setting up some guidance on agencies being able to recover their costs for the time it takes them to share that data. So this is a fee that's just offsetting the resourcing it's taking them to deliver on that data sharing agreement. And it can include the time it takes to set up the agreement to actually share the data and to manage it in an ongoing way. But it's not to make money from that. It's just really a cost recovery piece. And the other part of the question, Simon, do you want to answer that? Because I didn't catch it all. So the question, Susan, goes to whether there's information on technology needed to access these being captured through the data discovery program. And I think the short answer to that is no, we're not building out a comprehensive list on how you would access each individual data set through the discovery program. But we will be providing contact details for the custodians of those devices. Yeah, that's exactly right. Thank you. Great. So next person says, so I realize I'm jumping way ahead of myself here. But in terms of the information or answers that we put in the accreditation, a lot of that detail is likely to change over time as universities change and improve their systems. What are the expectations on regular or ad hoc updating of that information or reaccreditation processes? That's a great question. Thank you. Julie, do you want to answer that? Yeah, sure. I can answer that. So for ADSPs, there is a renewal process that needs to occur every five years for user accreditation. Once you're accredited, you remain accredited. And there's a, for both types of accreditation, there is a requirement to update your circumstances in relation to that accreditation regularly. At this point, we, as Susan said, we haven't accredited anyone at this stage. So we're still waiting to get a few more applications in and get a feel for exactly what kind of things we need to be updated for and what kind of time frames we'd expect those updates to come through. Certainly things like change of organization ownership, for example, that would be something that we would, you know, need to know as that kind of occurs. However, some other things could probably wait a little bit longer. So we'll come out with more guidance. Just to have fun, from a university perspective, we're very familiar with the effort required to keep ethics approvals up to date. And we're really trying to simplify this as much as we can. That the actual accreditation might be annually as opposed to every time something specific changes. So we will set some guidance on that, but we are very conscious of not putting a work burden on universities unnecessarily. Brilliant, thanks. There is, was a process for people accessing sensitive ABS data. Is that now replaced by this new accreditation process? No, not at this stage. We're really not affecting any of the existing arrangements under way. But you know, that's a great question and maybe there's an opportunity to align those processes down the track. But I know the ABS is certainly looking at using some of our tools and systems like Dataplace to, for some of their data sharing to make things consistent and steady moment as well. Great, thanks. Are Anchris capabilities included in the permissioned list of participants as users or data service providers? Can you answer that one for us, Simon? The answer is it probably depends. So the organisations that are able to become users or service providers are Australian government, State and territory government and Australian universities. So it's my understanding that different Anchris facilities have different corporate governance structures. So an Anchris facility that was entirely hosted by a university could be covered by a university's accreditation. But an Anchris facility that's a government-owned company limited by guarantee or something might not be able to. So it's probably a case by case basis on those things. Thank you. Okay, what is the place of data outputs in the scheme? These may include some data sourced under the scheme, but that would be combined with other data brought to the process by the uni. What are the options for who can be the custodian? Can they be exited from the scheme for publication? Great question. And again, to use Simon's phrase, it will depend on the particular data-sharing project. As an example, there may be a complex data integration project that is using sensitive personal information. But then the products that exit the scheme might be de-identified reports. And so that will be appropriate in that instance. What cannot exit the scheme is the sensitive or personal information. Do you want to add to that, Simon? Sure. So when we're talking about custodianship, all scheme data has to remain, the custodian of that data has to remain the original data custodian unless it formally exits the scheme. And as Susan said, where there's particular sensitivity to that, it's very unlikely that the entirety of that data set would ever be allowed to formally exit the scheme unless there was some pretty significant controls put around how it exits the scheme. But certainly, yes, we expect data to be exiting the scheme for publication, especially around research. That's right. And aligned with the data-sharing agreement, so just as it is now, the rules for that will be set on a project-by-project basis by the data-sharing agreement. That makes sense. Given a uni's level of data management maturity and resources available, would it be better to apply regardless of level of maturity or to wait until a certain capability and capacity is reached before applying? I guess we think apply now, because then your university has access to the data. We think that almost all of our Australian universities have the built-out radar level that they would be able to achieve accreditation at a data user level. And if not, we're here to help you get there. So we're trying to make sure we have the right capabilities in place, but we don't think from an Australian university perspective, it's a very high bar. And the other option is we can credit with conditions, which, again, are safeguards to respect the level that you're at in maturity as an organisation. And the other thing we can do is credit parts of the university, for example, not the whole university research teams don't all have to be at the level of an ADSP, I'm sorry, an accredited data service provider for that university to be accredited. It could be just a team within that university. So there's sort of ways to make that fit for purpose. Great, thank you. So that was our last question, but we have just a few more minutes if anyone has anything else that's come up. Otherwise, I will hand us back the case. Yes, so there was one question that, as I was listening to the presentation, and I was quite curious about, and this might be a little bit further down the track. But especially when looking at the ADSP as being accredited as a data service provider, if a university is working on government data, perhaps combined with other data, and providing that as a service to others, is there then a requirement that they would be accredited as an ADSP to be able to do that into the future? That's a hard question. Thank you. It could be the case. And again, it would depend on the specific data sharing project. So I'm sorry, I can't give you a really clear answer on that. Is anyone else going to do a better job than me there? I don't think that's a properly complex question. That's a very hard question, Katie. But we're happy to help you through that on a project by project basis. So yeah, it's an excellent thought. What we're really just trying to do here is keep personal information safe and sensitive information safe, but enable it to be used for good research outcomes. So anything that fits within that criteria, we'll try to make it work. Okay, great. Thank you. I see there are two questions which have just come in. So one question is, if you can just accredit a team within a university, can just a team apply? Okay. So not for data user accreditation, it has to be at the organization level, but for accredited data service provider, I guess that the university would have to apply on behalf of that team. And the condition on that accreditation would limit the accreditation to that team. Is that right? That's right. Good. Thank you, Julia. Okay, thanks. And there's one final question. You might have already addressed that in the response to my question. If we don't anticipate providing ADSP functions as a service to all, but may do some such activities depending on the project, for example, integrating data from different sources or de-identifying information for release exit, do we need to apply as an Australian data service provider? Credited data service provider, sorry. It's a bit of a complicated question. Sorry, Keith. We were just debating among ourselves. Can you repeat the question for us? Yeah. So I think the question is really what if a university wants to provide some of the functions, but not all of the functions as an ADSP? Do you still actually need to apply as an ADSP? Yeah. So when you apply to be accredited as an ADSP, you could just have one of those three service data services as part of your accreditation. So you don't need to provide all of them. So we can accredit you just to provide, you know, for example, secure data access or something like that. You don't have to be accredited for all three of those services. And I think the other part of the question was, do you have to provide those services externally unless I misunderstood? But I think some of our existing accredited integrating authorities that will automatically transition to become accredited data service providers some of them do big, you know, and a very big range of projects like the ABS Data Lab and AIHW. But some of them are just set up to pretty much provide that service for themselves. So for example, some of our health organizations are really just doing that data service provider for their own facilities and use of their own data. So either way. If I can just add some extra legalistic stuff to this. Thank you. Thank you. There's a concept in the Act called complex data integration. So if the university is just doing data integration work for its own research projects, it doesn't need to be an ADSP for those. But once it becomes what we call complex data integration, which is where there's two or more entities controlling the data that's integrated and its unit level data and there's a number of other things that make it difficult, then there is a requirement that an ADSP is involved in the handling of that data. So there may be some cases where it's just the university and a single government entity trying to integrate data, but because of the complexity of that an ADSP accreditation might be needed to make that say. That makes perfect sense. Thank you, Simon. Thanks, Simon. I think that was very helpful. Okay. I think we've come to the end of the questions and we've come to time actually too. So thank you very much again for all the time and effort and the presentation. It was really helpful and gave a lot more insight and a lot more depth under the data scheme and what's involved. If we were happy to share the slides after this event and happy to share the recording and if we can include the links to the documentation that's required for accreditation that probably also would be useful. Thanks so much, Keith. I really appreciate you bringing a group together today and thanks to the ARDC for all your support. And to all the researchers on the line, we're really looking forward to working with you and helping you get the data you need for your projects. Okay, great. Thank you very much. Thank you. Bye-bye.


Hey, everyone, and welcome back to another edition of Wired for Hybrid. In this episode, we are going to review what's new in Azure Networking. We're looking at what was released and what became GA and Mike is taking the elevator to the basement that looks like. Oh, just getting right here in the studio here. Hey, there we go. There you are. It's just like all of a sudden it's like, oh, we should have done that during the spacer. That's OK. That's funny. All right. So we have a few GA's and a couple of preview, I think, sprinkled in there for a good measure. So, Michael, what do you got for us this month? Pierre, what do I have for you? So first thing off the bat is generally available. We have Gateway Load Balancer IPv6 support. So what this brings to us now we support IPv6 traffic so you can use this when you're using Gateway Load Balancer with your dual stack application. So just as a refresher so everybody knows and if you want a bigger refresher, check out Mahip and Pierre did a great deep dive on Gateway Load Balancer recently. Gateway Load Balancer is a skew of Azure Load Balancer that you use in scenarios where you have a third party network virtual appliance that sits in the middle of your traffic coming in and your traffic going to your application. So it could be something like filtering web traffic. So you've got an NVA sitting there that your traffic goes into that. Then that Gateway Load Balancer and then Load Balancer sends it to the customer application, wherever it is. So with this update, now you can support IPv6 front ends and back end pulls when you're working with Gateway Load Balancers. OK, why is this important? Is this IPv6 in front of the Load Balancer or behind the Load Balancer or both? Both.  So it'll have an IPv4 and an IPv6 front end. And then it works with the IPv4 and IPv6 stuff you set on back of it. So, yeah, it's dual stack all the way through. OK. And so why is this important? Well, we all know that IP addresses ran out a while ago. If you talk to our buddy, Ed Hornley, he's been talking about it for years and years and years. But we even did we even did an episode with John Flores about IPv6. Absolutely. So it's one of those things that more customers are moving to utilizing IPv6. And many of them are doing it in this fashion. They're not just turning up IPv4 and going to IPv6. They're doing it in a dual stack scenario so that you can you have access to both of those. So this allows you to be able to utilize your gateway with your network virtual appliances in that IPv4 IPv6 dual stack scenario, which is pretty cool. And so we've got so we got plenty of we got check the show notes. We've got plenty of resources for you how to deploy a dual stack load balancer. If you're still trying to get up to date on creating a gateway load balancer, we've got a great tutorial for you on that. And what do you got for us, Pierre? Should we go? Let's go back and forth. That's always fun. Yeah. My first item is general availability. Rented mouth, general availability of sensitive that's a mouthful, sensitive data protection for application gateway web application firewall. That's quite an acronym. Yeah, I'm really hoping that we work on that name. But anyway, basically, it means that the regional web application firewall that we've been talking about for a long time and we've even had. No, we are planning a deep dive on WAF and now supports some protection for sensitive information because really Windows Web application firewall. When things happen, when it's saving, it's logged for debugging or for support or for something like that. It logs everything that that needs to be logged. And in some cases, you can have IP addresses, username, potentially password, depending on how the application is set. So all of that sensitive information is saved in the logs and the logs are clear text. And anyone that has operational access to the logs for operations can actually see that. So you see you see where the problem is, rather. Absolutely. So now you can actually create a scrubbing rule.  So you'll have all your logs and they'll just be kind of exed out of the sensitive information and the sensitive information, lob scrubbing that is supports different variables, so header names, cookie names, argument names, post argument names, JSON names, IP address. So there's a big push on how you secure not only the access, but how the information is logged. Because if you can parse the log, then you have the information you need to potentially compromise the environment. Absolutely. Yeah, this is a this is a great add on because I know, you know, one of the things that we're we're seeing a lot. And this should make sense to everybody is, you know, internal IP addresses, those are that sensitive information in this day and age. And so a lot of this information that's included in there, you know, it's like back in the old days where people would dump the dump your physical memory and pull up passwords from there and, you know, that sort of stuff. So yeah, we're not we're not quite there in terms of vulnerability for with WAF, but if a customer is coming in from their own network, hitting the web application firewall, authenticating through that firewall and accessing the application, all of that information gets logged. So now we can scrub it from the log. Very cool. Very cool. That's a cool add on. Yeah. How about you? What's your second item? So the second item is actually something we talked about back in January. So we have a for Azure Front Door and Azure CDN. We have a domain fronting update. So if you if you remember back to our January episode, we talked about where where domain fronting was added into Azure Front Door and Azure CDN. So as a fresher, domain fronting is a technique that involves using different domain names in the server name indication, the SNI field of the TLS header and the host field of the HTTP host header. It hides traffic to a specific website by masking it as a different domain. It's one of the many ways that attackers will obfuscate. Yes, I got it on the first time. There are activities as they're going. So it's it's one of those things that hackers and attackers will use in order to try to to to mask what they're doing and and gain access to in their attacks. So what we had added back in September is that we added to the update. We put in domain front blocking restrictions for that. And this is one of those cases where this is a great example of how we take customers feedback and see what customers are doing and how they need to use the products and make changes based on those. So what we're doing is we're making an update so that instead of blocking the request when the SNI and host headers don't match, we allow the mismatch as long as the two domains are added to the same subscription. OK, so what was happening is that because they had people that had multiple domains were running into some problems with all of these. So this is one of those. Hey, you know, like a lot of times what happens when when stuff's done in security is like, OK, we're going to we're going to put the full shield up. Let's wait for the I use this the other day and somebody laughed. The scream test, do you remember the scream test, right? If you use it many times and you just you just wait for somebody to yell. And so we got our customers feedback. We're making those changes so it makes it still maintaining domain blocking, but allowing the customers to be able to manage it better and to utilize it, especially in scenarios where they have multiple domains with their data. So then starting the eighth, all existing domains will have this put into place. So previously, it was just for newly created. All domains will have this put into place.  But some, you know, some really cool additional functionality. Again, give us your questions, send us your feedback. Let us know how the products are working for you. And we'll try the best to get that passed along. And who knows, maybe it'll help us build better products. Absolutely. This is how most of our development is done by customer feedback. Absolutely. So you've got one more for me. I have one more and it's dealing with the firewall, but not the web application firewall, but with the actual Azure firewall. So there's new capabilities with Azure firewall that new monitoring and logging capabilities with Azure firewall. So right now, we as of now, because it's generally available as of end of September, we now support new structured logs and also new latency probe metrics. So what that means is that it provides a more detailed views of some of the firewall events and also when it writes to the log, it hits multiple categories now. Network rule was added. What NAT rule was used, what threat intelligence log was used to deny, for example, what IDPS log, DNS proxy, internal FQD and resolving failure log, application rule aggregation logs, network rule aggregation logs and all of that stuff. So these are all new structured tables that have been added to the logs in a way to give a lot more detail as to what's going on when somebody's coming across that is either allowed or denied access to your system through Azure firewall. There is a couple of previews on that. So a top flow log, which is basically that shows the top connection that are contributing to the highest throughput into a firewall. So that's in preview, but it'll eventually make its way to the list of new rules and the flow trace. So a trace as to the full flow of information. So the SIN, SIN, ACK, FIN, FIN, ACK, RST, invalid flows, all that will eventually be GA, but currently is in preview in terms of logging capabilities. Well, awesome. Well, that's good stuff. Yeah, we had some really good stuff. And for all of you watching, all of the links will be in the show notes below or look at the address here on the blog posts that will summarize all of it. And of course, if you like this type of content, please like and subscribe and smash that bell so you get notified for new content. Absolutely. That being said, Michael, thanks for taking the time to to basically run the show last month without me. Absolutely. Absolutely. I I realize how much work it is that you put in for that. And I absolutely love doing it. I absolutely love getting together with you and wanted to just call it to everybody. Our next show is going to be coming up in November, which, as we know, Microsoft Ignite is just around the corner. So depending on when our next show lands, we may or may not have a lot of stuff for us. Or PRNM might decide to do some special things. As always, great to see you, Pierre. Thanks for listening to everybody and seeing the next episode of Wired for Hybrid. Cheers. Cheers.


What's up everybody we are back with Matt King today is Monday, October 23rd Taking a look at his account Matt. How you doing today? Hey, I'm doing pretty good. How are you doing? Well doing well So we've got we've got these four positions on we're sitting here on your monitor tab We've got a position on in gold position on in natural gas We've got a couple strangles on in the NQ which is the NASDAQ and we've got a position on in ZB Which is the bonds and if we if we kind of slide over to the P&L You can see we're up a we're up a little over 500 bucks today and in total we're up over $1,100 so not too bad than your first 23 days of trading Matt Hey, awesome. Yeah, I wouldn't have I don't have anything to go on So I'll just take your word for it that that is awesome for for me a beginner trader. Thank you for your help Yes, sir. Yes, sir. This is about so what I wanted to do today Is we've we've got some trades that are in the profit and to a point where we can actually book those profits and take them off and so if For those listening if you've taken our course how I maximize profits trading options, which is all about short strangles You know that there's kind of an optimal exit point for these types of trades and essentially what that what that means is you know, we're typically looking on a Strangle, we're typically looking for about 50% of max profit, right? So that's kind of our that's kind of our standard where we want to take take those positions off and then redeploy that capital But if we get profits fairly quickly and I and I outline that in the course where if we get profits of 30% of max profit within 10 days of being in the trade you book those profits and run every day Same thing if we're in the trade for 15 days or less and you have 40% of max profit We're gonna take those profits and run because that there's no reason to wait for an extra little bit of profit If we get it that quickly we're gonna take that money out Book it take that risk off and redeploy that capital into other high probability trades. I like it cool, so Let's go to your first Position there, which is gold click on that and then click on your analyze tab just to show everybody where you're at And if you yeah, move that down a little click that little arrow with the line to move that order entry tool down So you can see if you hover over the little hash mark of where price is trading right now you can see we're up about Over there in the middle of the graph. Yeah, there you go. We're about 400 plus dollars on this trade So let's call it 418 So I've just got my handy dandy little calculator. I know you can't see it But if you take 418 divided by the max profit, which is 1190 That gives you over 35% of max profit right now And we've only been in this trade. How long have we been in this trade Matt if you go to the monitor tab Monitor and then go to account statement There we are So you can see we put this on on October 11th Well today is the 23rd. So essentially we've been in this for about 12 days, right? mm-hmm So like I said if you're in in a profit of 30% in under 10 days or 40% under 15 You want to go ahead and book those profits in this case. We've been in it for 12 days We're at about 35% of max profit. So this is this is one that I would just book that profit and and run All right, I'm ready to to book that profit and and take off Mix go to your tab All right, so we're gonna go ahead and close this out Okay, let's go to Crap where was it? So we're gonna go down to these here. So puts in the calls. We're coming here. Yeah We're gonna right-click Create a closing order and over here to buy and Plus one on the put and the call So we're just here. We're buying back the 1335 call and the 1255 put because remember we we sold those for a credit To start with and now we're buying them back at a lower price And it's it's green green for good Red for a Red for risky. Yeah green means money, right? We're booking some money So although if we take it off for a loss, it's still gonna be green, but in this case, we'll go with that Yeah, that's true. I got you Did you need me to change price limit or we're not gonna get filled at 770 most likely So kick that one up up one tick to 780 Okay, there you go, and let's let's just see if we can get filled here Okay, and then here That's it son And what I would typically do in this case Matt if we weren't recording and kind of showing every showing everybody is Is I would I would put that order in and I'd probably say I'd probably just let it set You know, even so even if you're not at your computer, you could just let it sit all day And eventually, you know, you'll probably get filled Barring a massive move in gold And so I'd probably just let it let it set and get filled for the case of this video and just for efficiency of what we're trying to do go ahead and Bring that order box back up. Yeah Right-click and let's cancel replace Can't cancel cancel and replace And pop that 790 confirm and Price is moving moving on us a little bit, but yeah, we got filled. All right Yep, if I went through So if you go to your monitor tab now Okay Now what you'll see is this is the this is our this is our order so you can see we entered it on 1011 and we sold It for an 1190 credit Okay, and then we bought it back for 790 so what that what that says is we made four dollars on that trade, right? Four dollars per Share per contract. Yep per per contract And so then you multiply that four times a hundred that equals 400 so we made right at four hundred dollars on the trade total Okay, that's kind of where I was going with that so it would have been the hundred shares is under one contract So seven dollars or the four dollar difference times a hundred would have been about four hundred And and that's the kind of the quirky thing about futures and one of the things that we will teach in our upcoming Course all about futures is there's there's little nuances and multipliers for every different futures contracts So they're all a little bit different. So in this case in this case the multiplier is a hundred so whatever that profit is you just Excuse me multiply by a hundred and that's your actual dollar profit or loss Got it. Okay. All right, so hey, what do you think first winner, right? It is and so I Can come here at any time would add is obvious if I come here it still shows up on my GC still shows up on the monitor And after that after the close today or when you open your platform platform tomorrow morning Gold will be gone because you no longer have a position on it Okay, but that money would just go back into our available funds basically. Yeah, okay. So it already did. Yeah All right, I got you. Okay. It's not actually on our current account here So yeah, it already it already wiped off our current account. So you're out. Yeah Ready to go on to the Z ZB one one more thing real quick Okay, go back up to the top and click on account statement again Count statement, okay, and you can see down below Where it says on the GC You can see that you P&L today So you you made a hundred ninety dollars today on that one and then year to date because this is only We've only been trading this account, you know since we started here So year to date you've made four hundred which I which obviously is your the total profit you made there So that that's awesome. They're just reference point for you Okay, this is all right I'm thinking there's got to be a good way to like organize all this stuff But it probably happens all right here in the thinkorswim platform for me. Yeah, sure does. Yeah, that's it all for you Good. All right. Yeah, before we before we go to ZB Let's let's check on the natural gas and just show everybody where we're at on that one Okay, obviously, we know we're up just a tiny bit but go to your analyze tab Just to see where that's at So you can see we're up, you know 40 38 bucks not enough profit to take off yet So we're just gonna let that one sit and brew for a while. Okay, so go to your NQ So we've got two different positions on here This is the second one we put on you can see price is still very centered in our in our graph I've got a little bit of profit, but again kind of same story not enough to take off yet So we'll continue to let that one Decay on a decay for us before we take that off Okay, and then if you go down below to the positions and click off those check marks that are checked And click on the other ones This is our this is our the first position we put on in NQ and same thing rep rep 262 bucks Excuse me, but again not enough to take off yet We want at least 30% max profit But looking for as long as we've been in this one now, we're really looking for more around 40 50% at least Okay, and Then lastly, let's go to ZB our bond position. Okay So you can see we're up about 390 bucks on this one out of a possible max profit of 1031 So again, I'm just doing this on the side 391 divided by 103 1 We've got a profit of about 38% So same kind of situation if you go to your monitor tab Okay monitor You can see we put this one on on 10 6 So we've we've been in this for about what is that? about 16 17 days And we're at we're at basic almost Basically 40% of max profit. You don't have to be exact on that But again kind of same situation We don't want this thing to move up on us in price and kind of take some of that profit away So once we get to that point this quickly I'm an advocate of of booking those winners and and moving on We've got another tray that we can put on so let's go ahead and Book this winner just like we did in our gold All right, let's do that. So go back to the analyze tab and Put some our calls what Let's know what I was shooting for and then right click closing order by and Are we gonna do the same thing with the price? These are only one tick wide So let's try to get filled at 42 and see if it see if it hits for us Okay, if not move it up a tick That was fast and got filled. So that's where it's trading. So We're we booked we booked in bonds So if we go to our monitor tab there You can see we made 375 bucks total profit in bonds. So yeah, we we sold it at 102 We bought it back at 42. Now those are this is where Futures get a little bit funky. So those are actually To get to one point that's actually those are actually 30 seconds The bond market still works in fractions So we're it's kind of a legacy deal going back to the 70s where even stocks and ETFs and a lot of things Didn't work in decimal places. They worked in fractions And bonds is kind of one of those that have that are still working in fractions. So it's on 30 seconds Um, so in this case as far as an actual dollar amount you booked 375 dollars Okay, and this is where you're looking at that 375 just to make sure. Okay. Yeah Okay Shoot got another winner got another winner All right, so now um, we we kind of scanned through some of the different symbols before we started the recording and and Really everything everything's still kind of low implied volatility But we did find one that was over 50. Which one was that you remember? Uh, it's like it was x xrt. Was it correct? 52 So we've got an id percentile of 52 and xrt. So kind of highest on the board So let's go ahead and put a trade on an xrt Um, just to make sure that i'm That is the one that we want correct. That's right. Yep. Okay I just make sure So We will do is it threw me off because the slash wasn't there. So I was like, that's not a future Which is what we'd been doing. Yeah, that's right So we all the all the trades that we've done to this point have been futures But with everything kind of so low and implied volatility. We've got something that's that's uh a little bit higher So we're going to go to an etf and and xrt is the retail etf. So this tracks This is kind of a a basket of stocks that tracks retail so you've within that etf you've got stocks like wal-mart and target and Best buy and and any kind of any kind of retailer that you can think of is kind of makes up that that index xrt awesome awesome So trade tab so we've got Oh, i'm gonna i'm gonna let you kind of go through this. How many days to expiration do we want? So ideally around 45 up between uh 30 and 60 and we don't want the we want the white ones here not the the weeklies so it's got Kind of far out there, but we could do uh the 15 december of 53 Here you got it and All my strikes are set up Oh It's not too much to work with but so we can come in here looking for our normally around 16 to 20 delta In this case, so here's here's the thing with xrt. It's it's only a 40 dollar Stock it's only a 40 dollar etf And so you're not going to get the same kind of premium you would in a higher higher priced etf or a future But that's okay. It's you know, we it kind of is what it is so we would Exactly. I go with 23 13 is just a little bit too small So so 23 is what we would go with good all right, so and that's going with the The higher probably probabilities, correct? Actually, it's it's going for a little bit higher profit potential a little bit lower probability Yeah, I got you I got those confused. I'll have it down by the time we're three months is up so 90 days. All right, so We'll do that. We're going to sell And that was going to be another Strangle Yeah, let's just stick with the strangles.  So we'll we'll stick with the strangle Gotcha All right, so we'll come over here and look On the Put side Where to go delta This one's around this one's got an 18 and a 26 in our area those ones are Probably go with the 26 Either one is fine. Um, you're just you're getting a little bit closer to the money with the 26, but yeah, that works Okay And then come over here and check the the strike be 39 on that 43 39 and I'm missing something. We wanted to do the analyze right set our slices Go work, right? Good to go 63 percent there Yeah, so you can see where our probabilities are a little bit lower than what you know With some of the other trades we've done because we had to get a little bit closer to at the current price But it's still you know over 60 probability of making money at expiration And obviously by the time we Managed this at 30 40 50 percent max profit our probabilities are going to be much higher than that. So Okay, yeah in it Sorry, go ahead. No, no, go ahead. I was just going to say so Do you notice anything different about this when you're looking at your max profit? um I know there's a couple different things that pop out at me the first thing it popped out was these The the left and right margins. I'm already on the outside of it Uh for one, but the other thing was it's not quite a rigid over here on the The far right side. I don't know if that has anything. Maybe it's just the way that it looks Yeah, that that's um, that's just the way it is and and one thing to point out on those little red Hash marks in between in inside there those will those will move around So those those you don't really want to pay attention to those It's really the red hash marks on the outside where your hash where your dotted lines are There's ones. It's probably just my OCD getting to me. It's off balance throwing me off those those middle ones Those are going to move around so as your profit line moves up and down That's just showing kind of where the pink line hits the zero line inside there Okay, and so there's there's really no relevance there. It's just more of a kind of a visual thing to give you an idea of the the max profit it looks like is If i'm looking at that, right? It's 88 88 dollars. It's a little lower than what we're we're used to being at but I don't know that That's something unusual or strange. It's it's not unusual, but that's that's exactly what I was getting at is For one contract, you know our max profits only 88 bucks. Whereas on a futures contract You know our max profit was in some cases over a thousand dollars for one contract Yeah, and so that's when I say that You know one of the reasons I like trading futures is because you have to use less capital for more profit Because you're using more leverage. You get a lot bigger bang for the buck. You get a lot more leverage with the futures In this case, we're going to have to kick this up quite a few contracts to kind of Mimic what we could do in the futures, which is okay We've got a little bit more transaction cost got to pay a little bit more commission But that's the difference And and especially with its uh etf like this. That's only 40 dollars You just don't get as much Juice in those options. So you got to put on more contracts To to get your trade size up a little bit. Okay So let's go ahead and kick this one up to probably 10 contracts Oops, what the wrong way 10 10 contract negative 10 contracts Yeah, so then if you go hover now now you're looking at 880 bucks And that's more in line with kind of a similar size as we've been doing with the other trades All right. So it really would come down to Uh, your available funds and your buying power how much money you have in your account and are willing to put on As well. Yeah, so this so this max max profit 880, you know, that looks good That's that's fairly comparable to our other trades But the next thing we got to make sure of is if we right click down on the red and hit confirm Don't send it yet, but just hit just right click and hit uh confirm and send We want to make sure that the amount of capital we're using isn't Too high for what we're what we're trying to accomplish now You can see it's gonna it's gonna take over $6,200 out of our you know of our balance to put this trade on But that's okay because a we've got the capital to do it And and implied volatility is so low across the board that we don't really have any other Positions that we want to put on So in this case we you know, we go ahead and do this The only thing to keep in mind is you know, if you didn't have the capital then you want to scale that down Gotcha Yep, I get that if you don't have it then Don't spend it if you don't care. That's right. That's just kind of money 101, right? Yep Um, it's amazing that uh some newer traders don't quite get that though. They get they get over leveraged. They're trying to Maximize all you know, and I think it goes back to you know traditional investing Uh and financial advisors will always tell you keep you keep all your money invested, right? And the difference is Hey, it's not their money. So of course they want all your money invested because then you're paying fees on all your money but secondly They're they're typically not using any leverage What we're doing here is using leverage With options. Um, so we need to we need to keep cash in our account and we need to keep Enough capital available so if opportunities present themselves, we have the cash available to to take advantage Yeah, I get that that's you know, and that was kind of a question You know, it's like awesome. We're putting $50,000 into an account.  Well, we just made that's probably some back Uh, I think we're 43 000 out of the 50 At this point. So that's what we still have. Yeah, that's what we have available. Yeah, yep Cool. So go ahead and send that baby in Okay So I hope I think I did everything it needed to be done Yeah, and I figured we wouldn't get filled but so we'll have to adjust this one So go ahead and bring that up and let's uh, right click on that red one cancel replace And let's take that down to 86 Okay, go ahead There goes So you see what happened there. We put it in 86 and we actually got filled at 87 Okay, which is good, right? We want we want to sell it for the highest price possible And so that's that's that's the efficiency of the markets and that's you know, like I said the um, the theoretical mid price What they were giving us was 87 and that ended up being being right a lot of times in XRT You got to come off the mid price a little bit But in this case we got price improved and actually got filled at a better price than what we what we put our order in for So that's the efficiency of the markets and that's that's the beauty of liquid efficient markets Got it I like it it's uh You know learning something new and playing with some different variables and uh, I'm making it happen Very good. Well matt, do you have any other questions? If not, we will sign off for today and and check back in when there's more opportunity to put additional positions on Or if we need to book some more profit Uh, I think that I am probably good for right now today was a good educational day so great All right, sounds good matt. We'll talk to you later and see everybody next time All right. Thanks for your help. Appreciate it


Okay, we're back, this is Dave Vellante, we're live, wikibond.org and siliconangle.com's continuous coverage of Oracle Open World 2011. And I'm here with Sam Lucido of EMC. Sam is the, his official title is director, everything Oracle at EMC, welcome Sam. Thank you very much, thanks for having me. So it's good to have you here. Everything Oracle, that's a lot. I'm walking around the event here, it's just amazing how much stuff Oracle sells. I know you guys are a big Oracle shop, but really your role is to develop reference architectures and proven solutions for customers. Can you talk a little bit more specifically about what that role is? Yeah, absolutely. I work with our great team, the Oracle Global Solutions Team, and we develop reference architecture use cases around Oracle, in particular on EMC hardware. So what we try to do is provide solutions for the Oracle customers running on EMC hardware. For example, Fast VP is one of the big solutions that we have available for Oracle customers. It stands for fully automated storage tiering and virtual provisioning. And it provides amazing performance for Oracle databases. In particular, with Oracle databases, you know you have a very small active data set. And what you could do is you can have that auto tier to enterprise flash drives for outstanding performance. For example, just 5% of the database sometimes can return to you 44% performance just by moving it to enterprise flash drives. So I want to talk a little bit more about the whole solutions group. I've said a number of times that this is one of the best freebies that customers can take advantage of. You're not a revenue producing unit inside of EMC. Is that correct? Yeah, that's absolutely correct. So you can go out to emc.com and slash everything Oracle. You'll see our community website out there. What we're all about is getting feedback from everybody out there that uses Oracle and getting feedback about how they feel EMC solutions are working for them. And what we do is we take that feedback, work with our Oracle Global Solutions Group, and define more reference architecture and use cases upon what they're interested in. So you're absolutely right. Yeah, so I always encourage customers to find out what proven solutions are available, what reference architecture is, because what you do and others, I mean, I think IBM Red Books is, I learned a lot when I was a young analyst just reading IBM Red Books. And I think the difference here is that you're really focused on the EMC products, the storage integration with other pieces of the puzzle. But it's really a new dimension in that technical reference architectures. And so you can learn a lot by reading these things. But more importantly, it helps you not make mistakes that you guys made when you probably put this stuff together, right? So talk about that a little bit. Sure, sure. So what we were able to do is take feedback from the community and also educate the community. So it's a two-way street. We work together very nicely. For example, a lot of people are interested in virtualization of Oracle. So can I virtualize Oracle? If I go about virtualizing Oracle, how do I do it? Is there a use case out there that shows me step by step how you can implement Oracle? So what we like to do is provide that feedback to customers, show them how it can get done, and, of course, make them happy customers along the way. So step by step guide, best practices. Don't do this, do this. Because I think it's fair to say Oracle is not simple. If you don't have a lot of Oracle experience, you can make a lot of mistakes and get a lot of trouble. So if I understand it, you've got two recent reference architectures, one on VNX and one on VMAX around virtualizing Oracle. Is that right? Yeah, you make a great point, by the way. Oracle is not always easy to implement. Easy to get running. So what our reference architectures do is provide that step by step how we did it and how we made it work. Yeah, with our VNX series, which just came out a little while ago, we have something in there called Fast Cache. Fast Cache is very nice, because what it is, is essentially enterprise flash drives that supplement the memory within our VNX arrays so that supplementing the memory within our VNX arrays makes us the ability to add a lot of memory in terms of improving the performance of your databases. So the idea here is simply by adding an enterprise flash drive or two to the VNX box, we can improve the performance of your Oracle databases sometimes two to three times what it was without that Fast Cache. And I've already mentioned Fast VP on the VMAX and Symmetric series as well. So excellent solutions out there for customers considering the VNX and the VMAX. So a lot of customers that I talked to are concerned about virtualizing Oracle apps largely because Oracle doesn't want them to use VMware and because they don't want to use OVM. They want to use VMware because everybody's using VMware. Not everybody, but many are. Many in the Oracle environment. Now, as you know, many customers are moving in that direction despite Oracle's positioning. What are you seeing in the field with regard to that? What are customers doing and what are you advising them in terms of virtualizing Oracle? You know, that's a good question. And it's usually one of the top questions on customers' minds. So you hit the nail on the head right there. You know, with VMware and Oracle, there's definitely areas where they can come together and work quite nicely together. In fact, I was out in Luxembourg about a year ago. I was working with Oracle's Red Storm architecture team. And I asked them a question, you know, have you implemented Oracle with VMware and all of them, 40 of them in the room, Ray Sirhanna said, absolutely we have. So Oracle definitely works with VMware.  What are the best practices in terms of implementing Oracle on VMware? Because there's some things you gotta be careful of. In particular, licensing is one of those things you have to be very careful of when you implement Oracle on VMware. So what we typically recommend in terms of licensing is when you put Oracle within a VM virtual machine, you don't put it in a larger cluster. You keep that cluster very narrow and Oracle-centric so that you don't have a large licensing impact. Those are just a few of the things that we do. I gotta say this, Oracle sometimes is confusing, but they work with customers and I've seen them work very well with customers who have virtualized using VMware. Yeah, so, I mean, the trend is clear. I say I have a lot of clients within the Wikibon community that are virtualizing Oracle. A lot of test and dev, obviously. And even plenty in production environments, we have those who say, you know, I'm not doing it, unless Oracle supports it. Now they do support it, of course, in certain niches. They support RAC, they support, they will certify in the pharmaceutical industry for FDA testing. You got to pay them through the nose, but they will certify it. So there are proof points that it works, certainly in the customer base anecdotally, certainly within Oracle. You got to sort of find it behind the firewall, but it's there, there's documentation. But nonetheless, we're going to see that market tension go forward because Oracle wants to sell its own stuff. We know that. What else did you learn in these reference architectures that maybe surprised you? Well, you know, one of the things that I learned in reference architectures is that you have to implement things a certain way, or there's certainly a set of best practices in terms of implementing and virtualizing Oracle. You know, I worked with Oracle Corporation on the delivery side of the business for about 10 years. And one thing I can say about Oracle is their key strength is they work across everything. And that includes virtualization. And one of the things that I usually like to call out is that when you're working with Oracle and trying to improve the performance, whether it's virtualized or not, you really have to focus on where your active data is. That's very important because that's where you're going to have problems in bottlenecks if you don't architect that correctly. So the idea is, is try to zero in on your active data set and move that to your enterprise flash drives. We automate it through fast VP, as I had mentioned earlier. But you know, you can also do this manually if you need to. So the idea is, is that focus on that active data set and move that to the right tier. And we have several practices around different components of the database and what tiers they should go on. So what's the, when we talk about, we're talking generically about virtualizing Oracle. Specifically, what are you virtualizing? We've virtualized everything. I mean, we've tested virtualization of the database. We've shown roughen architectures with Rack, which is very interesting once you virtualize Rack. And there's several different ways you can virtualize it. And a lot goes into how you virtualize Rack. For example, a very technical point is with Rack, you can use RDM, which stands for Raw Device Mapping. Raw Device Mapping provides the capability to run both virtual and physical nodes together with VMware and Rack. So the idea here is that if you ever did have a problem with Oracle support, what you could do is you could reference the physical nodes in your Rack architecture, taking the virtualization out of the equation and get the support you need right away. So there's a lot of those solutions within our roughen architectures that really help customers along in the virtualization journey. So how do you decide where to put your resources? A big company, but you don't have unlimited resources. How do you decide what projects to run? Well, you know what we do is this, we typically like to look at the customers and get the customer's feedback on what we should invest in next. You know, for example, what we do with the community is that we ask them, hey, we'll put a poll out there. What technology are you interested in today? What technology are you interested in the future? And what we try to do is take that feedback, roll it into our use cases and our reference architectures moving forward, and then that way, customers have an interest in what we're producing. So we really look for the community to provide us that insight. All right, Sam, like I said, the customer's out there. This is a great service that you guys provide. It's free, find out if there's a solution that you're considering that has already been proven out. There's great documentation. I wish more companies would do it. You know, I'm glad you guys do and appreciate you coming on theCUBE and sharing your insights in this high performance data center spotlight. Thank you, Sam. Thank you. I appreciate the opportunity. Thank you very much. Okay, you're welcome. This is Dave Vellante. We're live at Oracle Open World and we'll be right back.