Abstract: The FIVI may generate and manage forward-variance-sensitive financial indices and the associated portfolios of investment vehicles underlying them, as well as for construct tradable financial products based on the values of those indices. The FIVI may generate one or more indices reflective of a one-period (e.g., one-month) forward starting variance, which may provide exposure to implied volatility without significant exposure to realized volatility. The FIVI may replicate forward variance of an index by maintaining a portfolio of call and put options which may further employ delta-hedging. Maintenance of FIVI portfolios may further employ rolling, ongoing and/or periodic rebalancing.

Abstract: Disclosed herein is a compound of Formula II below: OH wherein R1 is a p-nitrobenzyl or p-methoxybenzyl, group; and R2 and R3 may be identical to or different from each other and are each independently a C1-6alkyl or aryl group, or a derivative thereof, and a process for preparing the compound of Formula II. Further disclosed is a process for preparing imipenem of Formula I below: by using the compound of Formula II.