README.md

---
library_name: setfit
tags:
- setfit
- sentence-transformers
- text-classification
- generated_from_setfit_trainer
base_model: sentence-transformers/paraphrase-mpnet-base-v2
metrics:
- accuracy
widget:
- text: ' CercleFinance.com KKR and The Global Atlantic Financial have announced the
    finalization of their transaction. KKR completed the acquisition of the remaining
    37 of Global Atlantic bringing its stake to 100 . ''Since day one Global Atlantic
    has been a great fit for KKR both from a business and cultural perspective. We
    look forward to collaborating even more closely with Global Atlantic so that we
    can realize more of the synergies we have discovered over the first three years
    of our strategic partnership '' said Joseph Bae and Scott Nuttall Co. Chief Executive
    Officers of KKR. ''KKR and Global Atlantic are a powerful combination. Our shared
    culture and commitment to excellence continue to enhance our ability to think
    and invest long term and deliver compelling solutions to our customers and policyholders
    '' said Allan Levine Co Founder Chairman and CEO from Global Atlantic. Global
    Atlantic will continue to be led by its management team and operate under the
    Global Atlantic brand. Copyright 2024 CercleFinance.com. All rights reserved.
    Did you like this article ? Share it with your friends using the buttons below.
    Source link 85 '
- text: 'As we move toward a society where anyone can buy Bitcoin major financial
    institutions around the world are working to develop next generation business
    infrastructure with an eye toward a society in which digital financial assets
    tokenized on the blockchain are exchanged. proceeding. Nomura Holdings is one
    such company. CoinDesk a major Web3 media company had started its own project
    before launching its Japanese version in 2019. Over the past five years when the
    crypto asset virtual currency market has experienced a boom and bust period Nomura
    has been building a next generation business foundation within the company that
    will lead to the current digital company. Hajime Ikeda is the key person leading
    this digital company. In 2023 the market was so cold that it was called Crypto
    Winter but the world''s attention was focused on RWA tokenization initiatives
    being promoted by major financial institutions in Europe the United States Japan
    and Singapore. RWA is an abbreviation that stands for Real World Asset and unlike
    crypto assets such as Bitcoin it refers to financial assets that actually exist.
    In other words if assets such as real estate bonds fiat currency gold and renewable
    energy are tokenized on the chain the market size will expand to trillions or
    even tens of trillions of dollars. Boston Consulting estimates that the RWA market
    could grow to as much as 16 trillion by 2030. How will the infrastructure human
    resources and tools that Nomura''s digital company has built up function in this
    new expanding market? We spoke to Mr. Ikeda about the near future while looking
    at the current status of major projects undertaken by Digital Company. Komainu
    Mr. Ashley behind the birth of the project The service that manages financial
    assets held by institutional investors is called custody and this is the custody
    business that Nomura first embarked on when building a business foundation for
    digital assets. In 2018 Nomura launched the project Komainu in collaboration with
    European companies Ledger and CoinShares. Custody is an essential service for
    the functioning of current financial markets. For example the Bank of New York
    now Bank of New York Mellon founded in the 1700s by Alexander Hamilton the author
    of the U.S. Constitution is the oldest bank in the United States and has been
    providing custody services for the securities of institutional investors for over
    200 years. If a bank were to suddenly stop its operations the U.S. financial market
    the world''s largest would be paralyzed. How should Nomura respond to digital
    assets? After many heated discussions within the company Nomura decided to co
    found Komainu. The person who had a major influence on his decision was Stephen
    Ashley who was head of wholesale at the time. Hajime Ikeda Executive Officer Digital
    Company and Marketing Sales Division Nomura Holdings At that time there were various
    opinions within the company regarding digital assets. Many events and problems
    including hacking occurred in society relating to digital assets . However the
    market for digital assets did not grow. Custody will definitely be necessary Mr.
    Ikeda recalled at the time. We started from here and have continued to build on
    digital assets. In North America JPMorgan Chase the largest US bank was recently
    conducting a pilot project to use Quorum an independently developed blockchain
    based on Ethereum to perform payments and remittances in tokenized fiat currency.
    JP Morgan sold Quorum to ConsenSys the developer of the wallet Metamask in 2020.
    At the same time it acquired a portion of ConsenSys stock. Currently JP Morgan
    through its subsidiary Onyx is developing a project for corporations that utilizes
    tokens. In Japan in 2018 an incident occurred in which crypto assets worth 58
    billion yen were hacked and stolen from the crypto asset exchange company Coincheck.
    A report by the US research firm Chainalysis later revealed that the North Korean
    hacking organization Lazarus was involved in the incident. Laser Digital The world''s
    giant asset management company on the rise In 2021 when it was reported that major
    US investment bank Goldman Sachs was planning to open a crypto asset trading desk
    Nomura was preparing to launch Laser Digital. The following year Laser established
    its headquarters in Zurich Switzerland. The three pillars of its business are
    digital asset management services and trading for institutional investors and
    startup investment. Mr. Ashley who has been in charge of the wholesale division
    has been appointed as Laser''s chairman. This shows how serious Nomura is about
    this business. To date as part of its asset management services it has been operating
    funds based on Bitcoin and Ethereum but for custody they have immediately started
    using Comainu which they have been developing. Laser will launch a Japanese subsidiary
    in October 2023 with Hideaki Kudo who has been leading digital asset business
    development together with Ikeda as its head. Mr. Kudo joined Nomura Asset Management
    after researching astrophysics and has led the development of financial products.
    Laser Digital Japan Representative Director and President Hideaki Kudo After the
    start of Komaine there was a certain level of understanding within the company
    about this initiative laser says Ikeda. When starting a trading business 24 hour
    monitoring is necessary. By supporting Asian time through Laser Digital Japan
    and starting a 24 hour system there is a world that will become visible. Should
    we do something? What can we do? It will become clear. U.S. asset management companies
    that manage huge amounts of funds are also becoming more active in developing
    financial services that handle crypto assets and tokenized RWA. One such company
    is BlackRock which manages over 9 trillion in assets and has been an early strategic
    investor in the tokenized RWA space. A typical example is the investment in the
    American company Circle which issues the stablecoin USD Coin USDC which is linked
    to the US dollar. In Circle''s 400 million funding round in 2022 Fidelity a major
    asset management company like BlackRock participated. At that time BlackRock and
    Circle entered into a strategic partnership. Additionally BlackRock has announced
    plans to list a bitcoin spot exchange traded fund ETF in 2023 and has filed an
    application for listing with the U.S. Securities and Exchange Commission SEC .
    If the world''s largest asset management company starts operating a Bitcoin ETF
    a huge amount of money will flow into the crypto asset market. Laser''s workforce
    is expected to increase to around 100 people worldwide by 2024. Mr. Ikeda emphasizes
    that by utilizing technology such as blockchain we can realize the customer journey
    of digital financial products in areas that cannot be covered by traditional financial
    services. Blockchain AI alternative ...We are focusing on these three things in
    the digital asset business going forward. What is alternative Alternative in English
    means alternative . Assets that are different from traditional assets such as
    stocks and bonds. BOOSTRY Supporting the digital asset market Japan started developing
    RWA tokenization earlier than Europe and the United States. Japanese financial
    institutions including Nomura are issuing new asset classes that are tokenized
    on blockchain based platforms and are being offered primarily to retail investors
    in primary markets with secondary markets such as Osaka Digital Exchange ODX We
    have been rapidly developing an ecosystem that allows for trading and distribution
    in the market. This digital asset is called Security Token ST and in Japan it
    refers to assets linked to real estate and corporate bonds issued by companies
    and can be securitized and converted into small units by tokenizing it on the
    blockchain. A society is about to emerge in which many individual investors can
    trade freely. For example a part of specific real estate such as a hot spring
    inn popular with inbound tourists a hotel in Kyoto or a luxury condominium in
    Tokyo can be purchased as a security token. Investors can obtain benefits preferential
    tickets that come with security tokens while enjoying a return of a few percent.
    Individuals purchasing financial products may not directly feel that blockchain
    is being used behind the scenes of the financial product or that encrypted tokens
    are being traded. In fact the process of buying real estate security tokens is
    a much similar experience to buying any other asset class. The platform for issuing
    and distributing security tokens was developed by BOOSTRY a subsidiary launched
    by Nomura in 2019. Currently SBI Holdings holds 10 and Japan Exchange Group holds
    5 of the company. BOOSTRY Representative Director and CEO Toshinori Sasaki right
    speaking at Digital Securities Forum 2023 The reason behind the development of
    ST for individuals in Japan is that most of the personal financial assets which
    have ballooned to 2 100 trillion yen are cash and deposits and there has been
    no shift from savings to investment in the past. Mr. Ikeda said The development
    of security tokens will help bring idle money into the financial market in the
    Japanese financial world and many companies revitalize the Japanese financial
    market and improve the balance of this country which is biased towards cash and
    deposits. There was a strong desire to eliminate the stagnation he said explaining
    one reason why Japan took the lead in developing tokenized RWA targeting individual
    investors. Will Japan''s sleepy money be attracted to security tokens after 2024
    and some of it will flow into this new digital asset market? In a state of deflation
    holding cash may be the right investment move to some extent. However there are
    signs that the economy is moving out of this economic environment says Ikeda.
    He added In a society where consumption and investment activities are becoming
    digitally seamless I think a new investment environment is being created.I think
    the major money flows will change. As the security token market continues to expand
    opportunities for individual investors to invest in new digital assets will increase
    in addition to traditional financial assets. Mr. Ikeda said that in the near future
    when individuals are trying to build an optimal asset portfolio they will need
    more detailed financial education and investment advice than ever before. Interview
    Text Shigeru Sato Photo Keisuke Tada The post appeared first on Our Bitcoin News
    . '
- text: 'The apex court this week has given an interim stay on a significant Delhi
    High Court ruling in early 2023 that a tax residency certificate TRC is sufficient
    for a foreign investor''s claim to pay zero or lower tax under treaties between
    India and overseas jurisdiction like Mauritius Singapore and The Netherlands.
    Mumbai Foreign portfolio investors offshore private equity houses and others who
    had acquired stocks through the foreign direct investment route are keeping their
    fingers crossed after a Supreme Court ruling that could embolden the Indian income
    tax I T authorities to question their tax benefits. The apex court this week has
    given an interim stay on a significant Delhi High Court ruling in early 2023 that
    a tax residency certificate TRC is sufficient for a foreign investor''s claim
    to pay zero or lower tax under treaties between India and overseas jurisdiction
    like Mauritius Singapore and The Netherlands. TRC is given by authorities of these
    offshore financial centres to FPI and FDI entities set up in such countries for
    betting on Indian securities. The treaties with Mauritius and Singapore though
    amended later still allow foreign investors to avoid tax on capital gains generated
    by selling stocks which were bought before April 2017. The Delhi HC ruling on
    a writ petition by Blackstone Capital Partners a Singapore firm had said that
    the I T department cannot go behind the TRC to challenge treaty benefits on the
    grounds that the foreign entity incorporated in the treaty country is just a shell
    company with no substance. Though tax officials continued to slap notices to foreign
    investors after the HC''s decision asking a slew of questions on their origin
    and nature of presence in the tax havens the HC ruling on the validity of TRC
    came in handy in contesting the stand of the tax office. Now if the SC eventually
    confirms the stay in its final ruling it would have an unsettling effect on many
    overseas investors and influence the course of ongoing litigations. '
- text: 'Sony Bank is taking a backseat position in management of Sony Payments Services
    SPSV with Blackstone taking a majority stake. An American alternative investment
    firm headquartered in New York City Blackstone has acquired the majority stake
    from Sony Bank which is a wholly owned subsidiary of the wider Sony Group SPSV
    is one of Japan''s largest payments service providers having scaled up a strong
    presence across the country since its foundation in 1995 as part of the aforementioned
    Sony Group. SPSV has solidified a healthy market position and earned the trust
    of customers as a high quality payment service provider said SPSV President CEO
    and Representative Director Hidehiko Nakamura We believe this partnership with
    Blackstone will boost SPSV''s capabilities through investments in IT and talent
    to help accelerate its growth journey particularly at an exciting time of growth
    for the electronic payment industry in Japan. Although it became independent as
    a standalone business in 2006 Sony Group''s Sony Bank still maintained a strong
    degree of control over SPSV''s direction via its majority stake. Following its
    sale to Blackstone SPSV is moving further away from its founding parent group.
    However Sony and Blackstone are also long standing partners and further cooperation
    is highly likely. Kenichiro Yoshida Chairman and CEO Sony Group remarked For the
    past 30 years SPSV has led Japan''s cashless evolution making payments safe and
    secure for customers. We believe Blackstone a long standing partner of Sony Group
    can help continue the legacy that SPSV has formed and support its next phase of
    growth. Meanwhile Sony Bank''s President and CEO Keiji Minami reflected that changing
    trends in global payments and banking such as the shift towards cashless payments
    and general diversification in payment types require greater adaptability. We
    believe that Blackstone is the best partner bringing a global perspective and
    its expertise and network in the payment business he said. For Blackstone the
    agreement marks a continuation of the fund''s investments in fintech and payments
    but also its debut in the Japanese fintech space which the group believes poses
    strong potential. The firm notes that the Japanese electronic card payment market
    is the third largest in the world with market penetration of 9.1 whilst the country
    is also home to a JPY 22.7trn USD 18.9bn . As with other major developed financial
    markets Japan has probed various forms of fintech innovation in recent years including
    CBDCs and the Metaverse . The country has also witnessed the aforementioned trends
    of economic digitalisation and widespread adoption of cashless payments. Atsuhiko
    Sakamoto Head of Private Equity Blackstone Japan said We are thrilled to invest
    in SPSV one of Japan''s leading payment services providers and a well established
    financial technology company and expand our Japan Private Equity portfolio in
    good neighbourhoods sectors with strong secular growth. Digitisation of the economy
    is a key trend around the world including Japan and SPSV is exceptionally positioned
    to benefit with its sophisticated technology and robust customer base. We''re
    committed to bringing our operational and technology expertise and scale to support
    SPSV''s growth. '
- text: 'NiSource Inc. NYSE NI completes the issuance of a 19.9 indirect equity interest
    in NIPSCO to Blackstone Infrastructure Partners affiliate for 2.16 billion with
    an additional equity commitment of 250 million. The investment aims to strengthen
    NIPSCO''s financial foundation support sustainable long term growth and fund ongoing
    capital requirements for energy transition and reindustrialization of the Midwest. '
pipeline_tag: text-classification
inference: false
model-index:
- name: SetFit with sentence-transformers/paraphrase-mpnet-base-v2
  results:
  - task:
      type: text-classification
      name: Text Classification
    dataset:
      name: Unknown
      type: unknown
      split: test
    metrics:
    - type: accuracy
      value: 0.2753623188405797
      name: Accuracy
---

# SetFit with sentence-transformers/paraphrase-mpnet-base-v2

This is a [SetFit](https://github.com/huggingface/setfit) model that can be used for Text Classification. This SetFit model uses [sentence-transformers/paraphrase-mpnet-base-v2](https://huggingface.co/sentence-transformers/paraphrase-mpnet-base-v2) as the Sentence Transformer embedding model. A OneVsRestClassifier instance is used for classification.

The model has been trained using an efficient few-shot learning technique that involves:

1. Fine-tuning a [Sentence Transformer](https://www.sbert.net) with contrastive learning.
2. Training a classification head with features from the fine-tuned Sentence Transformer.

## Model Details

### Model Description
- **Model Type:** SetFit
- **Sentence Transformer body:** [sentence-transformers/paraphrase-mpnet-base-v2](https://huggingface.co/sentence-transformers/paraphrase-mpnet-base-v2)
- **Classification head:** a OneVsRestClassifier instance
- **Maximum Sequence Length:** 512 tokens
<!-- - **Number of Classes:** Unknown -->
<!-- - **Training Dataset:** [Unknown](https://huggingface.co/datasets/unknown) -->
<!-- - **Language:** Unknown -->
<!-- - **License:** Unknown -->

### Model Sources

- **Repository:** [SetFit on GitHub](https://github.com/huggingface/setfit)
- **Paper:** [Efficient Few-Shot Learning Without Prompts](https://arxiv.org/abs/2209.11055)
- **Blogpost:** [SetFit: Efficient Few-Shot Learning Without Prompts](https://huggingface.co/blog/setfit)

## Evaluation

### Metrics
| Label   | Accuracy |
|:--------|:---------|
| **all** | 0.2754   |

## Uses

### Direct Use for Inference

First install the SetFit library:

```bash
pip install setfit
```

Then you can load this model and run inference.

```python
from setfit import SetFitModel

# Download from the 🤗 Hub
model = SetFitModel.from_pretrained("Ankit15nov/setfit-ethos-multilabel-example")
# Run inference
preds = model("NiSource Inc. NYSE NI completes the issuance of a 19.9 indirect equity interest in NIPSCO to Blackstone Infrastructure Partners affiliate for 2.16 billion with an additional equity commitment of 250 million. The investment aims to strengthen NIPSCO's financial foundation support sustainable long term growth and fund ongoing capital requirements for energy transition and reindustrialization of the Midwest. ")
```

<!--
### Downstream Use

*List how someone could finetune this model on their own dataset.*
-->

<!--
### Out-of-Scope Use

*List how the model may foreseeably be misused and address what users ought not to do with the model.*
-->

<!--
## Bias, Risks and Limitations

*What are the known or foreseeable issues stemming from this model? You could also flag here known failure cases or weaknesses of the model.*
-->

<!--
### Recommendations

*What are recommendations with respect to the foreseeable issues? For example, filtering explicit content.*
-->

## Training Details

### Training Set Metrics
| Training set | Min | Median | Max  |
|:-------------|:----|:-------|:-----|
| Word count   | 2   | 590.5  | 2491 |

### Training Hyperparameters
- batch_size: (4, 4)
- num_epochs: (1, 1)
- max_steps: -1
- sampling_strategy: oversampling
- num_iterations: 20
- body_learning_rate: (2e-05, 2e-05)
- head_learning_rate: 2e-05
- loss: CosineSimilarityLoss
- distance_metric: cosine_distance
- margin: 0.25
- end_to_end: False
- use_amp: False
- warmup_proportion: 0.1
- seed: 42
- eval_max_steps: -1
- load_best_model_at_end: False

### Training Results
| Epoch  | Step | Training Loss | Validation Loss |
|:------:|:----:|:-------------:|:---------------:|
| 0.0018 | 1    | 0.4292        | -               |
| 0.0893 | 50   | 0.0057        | -               |
| 0.1786 | 100  | 0.2115        | -               |
| 0.2679 | 150  | 0.0003        | -               |
| 0.3571 | 200  | 0.0022        | -               |
| 0.4464 | 250  | 0.0003        | -               |
| 0.5357 | 300  | 0.0083        | -               |
| 0.625  | 350  | 0.0043        | -               |
| 0.7143 | 400  | 0.0038        | -               |
| 0.8036 | 450  | 0.0014        | -               |
| 0.8929 | 500  | 0.0031        | -               |
| 0.9821 | 550  | 0.0014        | -               |

### Framework Versions
- Python: 3.10.14
- SetFit: 1.0.3
- Sentence Transformers: 2.7.0
- Transformers: 4.40.1
- PyTorch: 2.1.0
- Datasets: 2.3.2
- Tokenizers: 0.19.1

## Citation

### BibTeX
```bibtex
@article{https://doi.org/10.48550/arxiv.2209.11055,
    doi = {10.48550/ARXIV.2209.11055},
    url = {https://arxiv.org/abs/2209.11055},
    author = {Tunstall, Lewis and Reimers, Nils and Jo, Unso Eun Seo and Bates, Luke and Korat, Daniel and Wasserblat, Moshe and Pereg, Oren},
    keywords = {Computation and Language (cs.CL), FOS: Computer and information sciences, FOS: Computer and information sciences},
    title = {Efficient Few-Shot Learning Without Prompts},
    publisher = {arXiv},
    year = {2022},
    copyright = {Creative Commons Attribution 4.0 International}
}
```

<!--
## Glossary

*Clearly define terms in order to be accessible across audiences.*
-->

<!--
## Model Card Authors

*Lists the people who create the model card, providing recognition and accountability for the detailed work that goes into its construction.*
-->

<!--
## Model Card Contact

*Provides a way for people who have updates to the Model Card, suggestions, or questions, to contact the Model Card authors.*
-->