Open and Closed Supermembranes with Winding

Motivated by manifest Lorentz symmetry and a well-defined large-N limit prescription, we study the supersymmetric quantum mechanics proposed as a model for the collective dynamics of D0-branes from the point of view of the 11-dimensional supermembrane. We argue that the continuity of the spectrum persists irrespective of the presence of winding around compact target-space directions and discuss the central charges in the superalgebra arising from winding membrane configurations. Along the way we comment on the structure of open supermembranes.