Automatic train operationAutomatic train operation (ATO) is a technology used to automate the operation of trains. The degree of automation is indicated by the Grade of Automation (GoA), up to GoA4 in which the train is automatically controlled without any staff on board. On most systems for lower grades of automation up to GoA2, there is a driver present to mitigate risks associated with failures or emergencies. Driverless automation is primarily used on automated guideway transit systems where it is easier to ensure the safety due to isolated track lines.
Positive train controlPositive train control (PTC) is a family of automatic train protection systems deployed in the United States. Most of the United States' national rail network mileage has a form of PTC. These systems are generally designed to check that trains are moving safely and to stop them when they are not. A simplistic form of train traffic governance is negative train control, where trains must stop when issued a stop order and can move in the absence of such. An example of negative train control is Indusi.
Communications-based train controlCommunications-based train control (CBTC) is a railway signaling system that uses telecommunications between the train and track equipment for traffic management and infrastructure control. CBTC allows a train's position to be known more accurately than with traditional signaling systems. This makes railway traffic management safer and more efficient. Metros (and other railway systems) are able to reduce headways while maintaining or even improving safety.
Rapid transitRapid transit or mass rapid transit (MRT), also known as heavy rail or metro, is a type of high-capacity public transport that is generally built in urban areas. A rapid transit system that primarily or traditionally runs below the surface may be called a subway, tube, or underground. Unlike buses or trams, rapid transit systems are railways, usually electric, that operate on an exclusive right-of-way, which cannot be accessed by pedestrians or other vehicles. They are often grade-separated in tunnels or on elevated railways.
TrainA train (from Old French trahiner, from Latin trahere, "to pull, to draw") is a series of connected vehicles that run along a railway track and transport people or freight. Trains are typically pulled or pushed by locomotives (often known simply as "engines"), though some are self-propelled, such as multiple units. Passengers and cargo are carried in railroad cars, also known as wagons. Trains are designed to a certain gauge, or distance between rails.
Control carA control car, cab car (North America), control trailer, or driving trailer (UK, Ireland and India) is a non-powered rail vehicle from which a train can be operated. As dedicated vehicles or regular passenger cars, they have one or two driver compartments with all the controls and gauges required to remotely operate the locomotive, including exterior locomotive equipment such as horns, bells, ploughs, and lights. They also have communications and safety systems such as GSM-R or European Train Control System (ETCS).
Speed limitSpeed limits on road traffic, as used in most countries, set the legal maximum speed at which vehicles may travel on a given stretch of road. Speed limits are generally indicated on a traffic sign reflecting the maximum permitted speed, expressed as kilometres per hour (km/h) or miles per hour (mph) or both. Speed limits are commonly set by the legislative bodies of national or provincial governments and enforced by national or regional police and judicial authorities.
MonorailA monorail (from "mono", meaning "one", and "rail") is a railway in which the track consists of a single rail or a beam. Colloquially, the term "monorail" is often used to describe any form of elevated rail or people mover. More accurately, the term refers to the style of track. The term monorail originated from German engineer Eugen Langen in 1897. Monorails are single-rail systems serving as a track for passenger or freight vehicles, often found in airport transfers and medium-capacity metros.
Binary optionA binary option is a financial exotic option in which the payoff is either some fixed monetary amount or nothing at all. The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option. The former pays some fixed amount of cash if the option expires in-the-money while the latter pays the value of the underlying security. They are also called all-or-nothing options, digital options (more common in forex/interest rate markets), and fixed return options (FROs) (on the NYSE American).
Real options valuationReal options valuation, also often termed real options analysis, (ROV or ROA) applies option valuation techniques to capital budgeting decisions. A real option itself, is the right—but not the obligation—to undertake certain business initiatives, such as deferring, abandoning, expanding, staging, or contracting a capital investment project. For example, real options valuation could examine the opportunity to invest in the expansion of a firm's factory and the alternative option to sell the factory.
