Abstract: An improved volatility index and related derivatives contracts are provided. An index in accordance with the principals of the present invention estimates expected volatility from the prices of stock options in a wide range of strike prices. Also, an index in accordance with the principals of the present invention is calculated from a price dragging methodology to derive expected volatility. In accordance with another aspect of the present invention, derivative contracts such as futures and options based on the volatility index of the present invention are provided.

Abstract: A system and process for loading control software into the control panel of a liquid chiller system is provided. A PCMCIA card socket is installed on a circuit board of a liquid chiller control system and is in direct connection with microprocessor data and address buses. A linear flash PCMCIA card having new control software for the control panel is inserted into the PCMCIA card socket when the control panel is de-energized. The control software from the PCMCIA card is loaded into a flash memory of the control system by software executed directly from the PCMCIA card. The software in the PCMCIA card erases the flash memory of the control system, copies the control software from the PCMCIA card to the flash memory and then confirms that the copy of the control software was successful. After the control software has been copied, the control panel is de-energized, the PCMCIA card is removed and the chiller system is restarted and executes the new control software stored in the flash memory.