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OIS

An overnight indexed swap (OIS) is an interest rate swap agreement in which one counterparty pays a fixed interest rate on a notional principal amount while receiving payments based on the compounded daily overnight interest rate, typically referencing a risk-free rate such as SOFR in the United States or SONIA in the United Kingdom, over the contract's term. These swaps, which can span terms from overnight to 30 years, enable participants to hedge or speculate on short-term interest rate movements with minimal credit risk exposure, as the floating leg is collateralized daily and tied to secured overnight funding markets. OIS gained prominence after the 2008 financial crisis as a benchmark for low-risk rates, supplanting LIBOR in derivative pricing and valuation through OIS discounting methodologies, which better reflect funding costs amid counterparty risk concerns. The LIBOR-OIS spread, measuring the difference between interbank lending rates and OIS-implied rates, serves as a key indicator of banking sector liquidity stress and credit conditions, widening significantly during events like the 2008 crisis and the 2020 COVID-19 market turmoil. While OIS markets provide efficient risk transfer for institutions and central banks, their reliance on central bank policy rates has drawn scrutiny for amplifying monetary policy transmission, though empirical data affirm their stability and liquidity in major currencies.

Optics and Imaging Technology

Optical Image Stabilization

Optical image stabilization (OIS) is a mechanical technique that compensates for unintended camera motion during image capture by adjusting the between the and , thereby reducing blur in photographs and video footage. It primarily counters angular shakes such as yaw, , and roll, detected via gyroscopes or accelerometers, with corrective prisms, lenses, or the itself shifting in opposition to the detected movement. Unlike digital methods, OIS preserves full resolution without cropping, making it particularly effective in low-light conditions where longer exposures amplify shake-induced blur. Development of OIS began in the early 1980s, with (then Matsushita) initiating research in 1981 and achieving the first commercial implementation in 1988 via the PV-460 , which used a variable-angle to stabilize video. This marked the debut of optical stabilization in consumer devices, predating widespread adoption in lenses. introduced the first interchangeable with built-in for 35mm SLRs in 1995, the EF 75-300mm f/4-5.6 IS USM, enabling handheld shots at shutter speeds up to three stops slower than without stabilization. OIS operates through two primary methods: lens-shift, where internal lens elements move perpendicular to the via motors or piezoelectric actuators guided by feedback from inertial sensors; and sensor-shift, where the itself translates on a floating platform to realign the . In lens-shift systems, typical in compact cameras and smartphones, the lens module adjusts position to recenter light rays on the sensor, demanding precise micro-actuators capable of sub-micron movements at frequencies up to 100 Hz. Sensor-shift variants, common in mirrorless cameras like those from and Olympus, extend to 5-axis compensation (adding x-y translation and rotation), supporting up to 8 stops of stabilization in advanced models as of 2023. Gyroscopic sensors with low noise floors, such as 2-axis devices optimized for OIS, enable correction by sampling motion at 1000 Hz or higher, though power consumption and mechanical wear limit continuous use. In digital cameras and lenses, OIS—branded as Image Stabilization (IS) by Canon, Vibration Reduction (VR) by Nikon, or SteadyShot by Sony—allows sharper images at focal lengths above 100mm or in dim environments, with effectiveness quantified in CIPA-standard shakes equivalent to 1/15-second handheld exposures on 35mm equivalents. Smartphone implementations, integrated since the mid-2010s in flagships like the iPhone 6 Plus (2014), employ miniaturized lens-shift OIS for primary cameras, improving video smoothness and low-light stills by countering hand jitter up to 5-7 stops, though space constraints often restrict it to 2- or 3-axis operation. OIS outperforms electronic image stabilization (EIS), which relies on software cropping and introduces artifacts, especially in dynamic scenes, but hybrid OIS-EIS systems in modern devices combine both for broader compensation. Limitations include ineffectiveness against translational motion (e.g., walking) and potential distortion from over-correction in panning shots.

Computing and Software

Object Oriented Input System

The Object Oriented Input System (OIS) is an open-source C++ library designed to provide a cross-platform for handling input from devices including keyboards, mice, joysticks, and other peripherals in software applications, particularly those involving interaction such as games and simulations. It abstracts low-level platform-specific input into an object-oriented , enabling developers to capture, process, and respond to input events in a device-agnostic manner. Originally developed to simplify input management across operating systems, OIS emphasizes robustness, with support for buffered input modes that allow queuing and replaying events for smoother handling in multithreaded environments. OIS employs an event-driven model where input devices are represented as objects that generate callbacks for events like key presses, mouse movements, or joystick axis changes, facilitating integration with graphics engines and frameworks. Key features include automatic device enumeration, support for multiple input devices simultaneously, and configurable polling or event-based capture modes to minimize latency. The library's design prioritizes simplicity and portability, avoiding dependencies on heavy frameworks while providing extensions for advanced features like force feedback on compatible hardware. First released around 2004 on as a community-driven project, OIS gained adoption in the game development ecosystem, notably through integrations with rendering engines such as and Irrlicht, where it serves as a backend for user input processing in 3D applications. By 2015, the project migrated its primary repository to for improved collaboration, accumulating 206 commits from 33 contributors and comprising approximately 48,810 lines of code, predominantly in C++. It supports major platforms including Windows, , and macOS via native APIs like Win32, X11, and , with experimental ports to consoles and mobile systems. Despite its utility, OIS maintenance has been sporadic post-2015, with the last significant updates focusing on compatibility fixes rather than new features, leading some developers to supplement it with platform-specific code or alternatives like for broader ecosystem support. Documentation, generated via , covers public for device managers, interfaces, and , though users often rely on example integrations from associated projects for practical implementation. The library remains licensed under the , permitting free use, modification, and distribution in .

Objective Interface Systems

Objective Interface Systems, Inc. (OIS) is a privately held software company specializing in high-performance for , , and distributed communications systems. Founded in and headquartered in , OIS develops solutions that enable reliable inter-process and inter-system communication in safety-critical applications, including those in aerospace, defense, telecommunications, and process control. The company's flagship product, ORBexpress, is a lightweight, standards-compliant implementation of the (CORBA) designed for minimal footprint and low latency in resource-constrained environments. Available in variants for C++, C#, , and FPGA implementations, ORBexpress supports extensions and operates across diverse platforms, operating systems, and transports without proprietary protocols. It facilitates transparent client-server interactions in multi-tier distributed systems, prioritizing predictability and determinism essential for embedded applications. OIS is deployed in mission-critical systems requiring high reliability and , such as software-defined radios and secure infrastructures, where it reduces time by providing pre-certified, high-performance communication frameworks. The company emphasizes deterministic behavior and compliance with CORBA standards to meet stringent demands in environments with divergent and software stacks.

Office Information Systems

Office Information Systems (OIS) encompass integrated hardware, software, and network technologies designed to automate routine tasks, facilitate information processing, storage, retrieval, and communication among workers. These systems aim to enhance efficiency in organizational settings by replacing manual processes with digital equivalents, such as document handling and coordination. Originating as a subfield of , OIS focuses on empirical study of environments to develop targeted technologies that support knowledge workers, distinct from general-purpose . The conceptual foundations of OIS trace back to early post-World War II experiments, including the Lyons Electronic Office () system deployed in the in 1951, which automated and administrative functions for a firm using custom-built vacuum-tube computers. However, widespread OIS accelerated in the late 1970s amid microprocessor proliferation and falling hardware costs, with formal overviews appearing by 1978 that anticipated multi-level sophistication in . By the , advances in personal computers, local area networks, and software enabled practical implementations, including voice messaging, electronic mail, and integrated document editors. Despite initial hype, adoption often remained confined to isolated tools like word processing, limiting systemic integration due to issues and organizational inertia. Core components of OIS typically include:
  • Document and data management: Electronic filing systems and database tools for archiving and querying office records.
  • Communication aids: and messaging protocols for intra-office coordination.
  • Productivity applications: Word processors, spreadsheets, and scheduling software linked via to support collaborative workflows.
Empirical assessments from the era highlighted gains in specific tasks—such as a reported 20-50% reduction in document preparation time via word processing—but broader OIS deployments faced challenges including high implementation costs, user training needs, and resistance to disruptions. discussions in the late emphasized the need for standards to address integration and labor impacts, foreseeing OIS as a driver of information-intensive economies. In contemporary contexts, OIS principles underpin modern office suites and cloud-based collaboration platforms, though the now more commonly denotes educational programs training administrative professionals in such tools rather than cutting-edge .

Finance

Overnight Indexed Swap

An overnight indexed swap (OIS) is an contract in which two parties exchange interest payments on a notional principal amount, with one leg paying a predetermined fixed rate and the other leg paying a floating rate calculated as the compounded daily over the period. The floating rate typically references a secured overnight benchmark such as the Secured Overnight Financing Rate () in the United States, the Sterling Overnight Index Average (SONIA) in the , or the Euro Short-Term Rate (€STR) in the , reflecting nearly risk-free borrowing costs collateralized by government securities. Unlike term rates, the overnight index minimizes credit and liquidity risks inherent in unsecured interbank lending. The mechanics involve daily compounding of the overnight rate to compute the floating payment at the end of each period, often quarterly or semi-annually, while the fixed payment is a simple interest calculation on the same notional. For example, in a one-year OIS, the floating leg might accumulate daily fixings, geometrically averaged, to yield the total floating payment, netted against the fixed leg. Valuation relies on the of expected future cash flows, increasingly discounted using OIS curves themselves to reflect collateralized funding costs post-2008 reforms. This contrasts with traditional swaps, where the floating leg uses forward term rates incorporating bank , leading to wider spreads during market stress; the LIBOR-OIS spread, for instance, spiked to over 350 basis points in late 2008 as a gauge of interbank distrust. OIS contracts serve primarily to short-term exposure, speculate on policy paths, or manage without principal , as payments are netted. Their adoption surged after the 2007-2009 crisis, when OIS rates emerged as proxies for risk-free rates amid LIBOR scandals and phase-out by in major currencies. In valuation of collateralized , OIS discounting became standard by 2010, aligning with actual funding via overnight repo markets rather than flawed LIBOR projections. Market turnover reached $5.1 trillion in April 2025, up 146% from prior surveys, driven by , sterling, and yen-denominated volumes amid persistent demand for reforms. The instrument's low counterparty risk—stemming from daily resets and collateralization—makes it integral to transmission, with OIS curves informing expectations of policy rates like the via forward-implied paths. However, basis risks arise if the underlying diverges from actual funding costs during , as seen in brief 2020 disruptions. Regulators, including the , endorse OIS-linked rates as robust alternatives to for robust, transparent pricing in swaps and loans.

Public Safety and Law Enforcement

Officer-Involved Shooting

An officer-involved shooting (OIS) refers to an incident in which a discharges a intentionally at a person while performing official duties, often resulting in or to the targeted individual. Such events are distinguished from accidental discharges or training incidents and typically arise in high-threat scenarios, such as pursuits, domestic disturbances, or responses to active threats. Empirical analyses of OIS data reveal that the vast majority involve suspects who are armed with firearms or exhibit behaviors indicating imminent danger to officers or bystanders, with armed suspects comprising over 90% of fatal cases in sampled datasets. In the United States, fatal OIS incidents claim approximately 1,000 civilian lives annually, a figure consistent across multiple independent databases tracking events since 2015. Non-fatal shootings add roughly 1,700 injuries per year, with fatality odds increasing by 46% when victims sustain gunshot wounds compared to other police-inflicted injuries. Participation in federal data collection remains incomplete, with the FBI's Use-of-Force covering only partial reports as of 2024, leading to reliance on crowdsourced or media-compiled trackers for national estimates. Rates vary by state, correlating positively with higher levels and ownership, rather than isolated racial demographics after controlling for encounter contexts. Following an OIS, standard protocols mandate immediate for the involved officer, preservation of the scene, and a multi-agency to assess justification under legal standards like , which evaluates objective reasonableness based on perceived threat at the moment of discharge. Criminal probes, often led by district attorneys or external entities to mitigate bias, rarely result in charges when evidence supports or protection of others, as determinations hinge on forensic reconstruction, witness accounts, and body-camera footage where available. Psychological and policy reviews follow to address officer trauma and refine training, though empirical reviews find no systemic overuse of force in most encounters when contextual factors like suspect resistance are accounted for.

Education

International Schools Using OIS Acronym

(OIS), located in , , was established in 1963 as a coeducational English-language serving students from ages 3 to 18. It offers the (IB) Diploma Programme, with students achieving an average score of 37 points against a global average of 30.3 and a 97% pass rate in recent examinations. Oeiras International School (OIS) operates in Oeiras, a of , , as an IB World School providing the Primary Years Programme (PYP), Middle Years Programme (MYP), and Diploma Programme (DP). Its graduates advance to universities including , , and . Osaka International School (OIS), based in , , and affiliated with , became the first institution in the country to deliver all three IB programmes. It addresses the educational needs of the in the , encompassing elementary through high school levels. Oberoi International School (OIS) in , , promotes international-mindedness by equally valuing students from diverse nationalities, cultures, religions, and lifestyles in its curriculum. Oasis International School (OIS) in , , provides a personalized American-style taught by U.S.-certified instructors, emphasizing development, , and innovation from elementary through high school. Optimist International School (OIS) in the functions as a public prioritizing a safe, inclusive setting to deliver global education to its students.

Earth and Environmental Science

Oxygen Isotope Stages

Oxygen isotope stages (OIS), now more commonly termed (MIS), delineate alternating glacial and intervals in 's paleoclimate record, spanning the Pleistocene and late epochs. These stages are derived from fluctuations in the oxygen ratio (δ¹⁸O) measured in the tests of benthic from deep-sea sediment cores, where higher δ¹⁸O values indicate cooler conditions and expanded volume during glacials, and lower values reflect warmer interglacials with reduced . The δ¹⁸O signal primarily tracks global ice-sheet volume, with a secondary influence from deep-ocean temperature changes of about 1-2°C per stage transition. The methodology involves oxygen isotope analysis of species like Cibicides wuellerstorfi or Uvigerina spp., which calcify in equilibrium with bottom waters, providing a stable minimally affected by vital effects. Cores from mid-latitude to equatorial sites, such as those from the Ocean Drilling Program, yield records extending back over 5 million years, with resolution improving via tuning to orbital insolation cycles (Milankovitch forcing). Odd-numbered stages (e.g., MIS 1, 5, 9) correspond to interglacials, even-numbered to glacials, numbered inversely from the present. Substages, denoted by letters (e.g., 5e), capture shorter-term variability within major stages. Initial development traces to Cesare Emiliani's 1955 work on piston cores from the , identifying early OIS sequences, later refined by Nicholas Shackleton's 1960s-1970s analyses of Pacific and Atlantic cores, establishing the standard benthic δ¹⁸O . Calibration against radiometric dates (e.g., U-Th for corals, ¹⁴C for recent sediments) and astronomically tuned chronologies assigns ages, with uncertainties decreasing from ±5-10 kyr in older stages to <1 kyr in the . This framework correlates marine records with terrestrial proxies like ice cores (e.g., , ) and sequences, enabling global paleoclimate reconstructions. MIS serve as a cornerstone for studying dynamics, linking , obliquity, and to ice-age cycles, with glacials lasting ~80-100 kyr and interglacials ~10-30 kyr in the . Key recent stages include MIS 1 ( interglacial, 0-11.7 ka, current warm period), MIS 2 (, ~29-11.7 ka, peak ice volume with sea levels ~120 m below present), and MIS 5e ( interglacial, ~130-115 ka, temperatures 1-2°C warmer than today and sea levels 6-9 m higher). Older stages like MIS 11 (~424-374 ka) represent prolonged interglacials analogous to potential future warm periods under low .
StageTypeApproximate Age (ka BP)Key Characteristics
MIS 1Interglacial0–11.7Holocene; modern interglacial onset
MIS 2Glacial11.7–29Last Glacial Maximum; maximum ice extent
MIS 3Interstadial29–57Variable; mild fluctuations within glacial
MIS 4Glacial57–71Heinrich event correlations
MIS 5Interglacial71–130Substage 5e peak warmth
MIS 6Glacial130–191Penultimate glacial maximum
This tabulation summarizes stages, with ages tuned to the LR04 benthic stack, a composite of 57 records minimizing site-specific noise. Variations arise from regional factors, but the global signal dominates, supporting causal links to Milankovitch insolation rather than solely CO₂ or solar variability, though feedbacks amplify orbital triggers.

Medicine

Ocular Ischemic Syndrome

Ocular ischemic syndrome (OIS) is a rare ocular disorder characterized by visual dysfunction resulting from severe hypoperfusion of the eye due to ipsilateral or , typically exceeding 90% narrowing. First described in 1963, it manifests as chronic retinal ischemia leading to , , and potential neovascular complications, often serving as the initial indicator of advanced carotid occlusive disease in approximately 69% of cases. The primary etiology is of the internal or , accounting for the majority of cases, with associated risk factors including in 73% of patients and mellitus in 56%. Less common causes encompass inflammatory conditions such as Takayasu arteritis or , as well as or other vasculopathies. Pathophysiologically, reduces ophthalmic artery perfusion pressure by up to 50%, inducing a "steal phenomenon" that diverts blood flow toward cerebral territories and triggers hypoxic retinal changes, including microaneurysms and cotton-wool spots. Epidemiologically, OIS has an estimated incidence of 7.5 cases per million individuals annually, predominantly affecting those with a mean age of 65 years and rarely occurring before age 50. It demonstrates a male predominance, with men affected twice as frequently as women, and bilateral involvement in about 20% of instances. Clinical presentation typically involves insidious loss in 80-90% of patients, progressing over weeks to months, accompanied by orbital in 40%. Fundoscopic findings include narrowed arteries in 90% of cases, intraretinal hemorrhages in 80%, in 67%, and optic disc or neovascular in advanced stages. Sudden transient loss () occurs in about 12%, while defects vary from arcuate scotomas to altitudinal loss. Diagnosis relies on multimodal imaging: reveals ischemic , while demonstrates prolonged arteriovenous transit time in 95% and delayed choroidal filling in 60%. Confirmation of carotid via duplex (sensitivity 89-96%), , or is essential, often prompting urgent vascular evaluation. Management necessitates a multidisciplinary approach, prioritizing systemic intervention through carotid —such as for 70-99% , which reduces risk from 26% (medical therapy alone) to 9%. Ocular complications are addressed with panretinal photocoagulation, achieving regression of iris neovascularization in 36% of cases, or intravitreal anti-vascular endothelial growth factor injections for control. Strict control of cardiovascular risk factors, including antiplatelet therapy and statins, is imperative. Prognosis remains guarded, with 50% of untreated patients experiencing vision deterioration to or worse within one year, and a five-year mortality rate of 40%, primarily from in 67% of fatal cases. Early improves ocular and systemic outcomes, underscoring the condition's role as a harbinger of cerebrovascular events.

Miscellaneous Uses

Slang and Informal Meanings

In internet slang and texting contexts, OIS serves as an abbreviation for "Oh I See," a casual expression of understanding or acknowledgment similar to "I get it" or "gotcha." This usage appears in informal online communication, though it remains niche compared to more common variants like "OIC." Among collectors, OIS informally refers to the "Original Inner ," the protective liner provided by the manufacturer to encase and safeguard the from the outer . Enthusiasts value intact OIS for preserving condition and authenticity, often distinguishing it from replacements in discussions of grading and value.

Other Acronym Expansions

In , OIS designates an Overnight Index Swap, a in which two parties exchange payments based on a fixed against a floating rate tied to an overnight reference rate, such as the , primarily employed by institutions to manage exposure to short-term . In imaging technology, OIS refers to Optical Image Stabilization, a hardware-based method that counters camera shake by shifting lens elements or the image sensor using gyroscopic sensors and actuators to maintain sharp focus during handheld shooting or video recording. In oncology, OIS denotes Oncogene-Induced Senescence, a cellular response mechanism activated by hyperactive oncogenes like mutant RAS, leading to irreversible proliferation arrest and secretion of pro-inflammatory factors that suppress early tumorigenesis, though evasion of OIS can promote cancer progression. In information systems, OIS stands for Office Information System, an early form of integrating hardware, software, and networks for tasks such as handling, messaging, and coordination to enhance administrative .