Conformal spectral theory for the monodromy matrix
  For any $N\ts N$ monodromy matrix we define the Lyapunov function, which is analytic on an associated N-sheeted Riemann surface. On each sheet the Lyapunov function has the standard properties of the Lyapunov function for the Hill operator. The Lyapunov function has (real or complex) branch points, which we call resonances. We determine the asymptotics of the periodic, anti-periodic spectrum and of the resonances at high energy. We show that the endpoints of each gap are periodic (anti-periodic) eigenvalues or resonances (real branch points). Moreover, the following results are obtained: 1) we define the quasimomentum as an analytic function on the Riemann surface of the Lyapunov function; various properties and estimates of the quasimomentum are obtained, 2) we construct the conformal mapping with imaginary part given by the   Lyapunov exponent and we obtain various properties of this conformal mapping, which are similar to the case of the Hill operator, 3) we determine various new trace formulae for potentials and the   Lyapunov exponent, 4) we obtain a priori estimates of gap lengths in terms of the Dirichlet integral. We apply these results to the Schr\"odinger operators and to first order periodic systems on the real line with a matrix valued complex self-adjoint periodic potential. 
Evgeny Korotyaev