Thursday, May 21, 2020
It wasnÃ¢â¬â¢t always possible to determine on which side certain individuals fought for during the U.S. Civil War, especially when Confederate guerrillas were involved in the State of Missouri. Although Missouri was a border state that stayed neutral during the Civil War, the state provided more than 150,000 troops who fought during this conflictÃ¢â¬â40,000 on the Confederate side and 110,000 for the Union.Ã In 1860, Missouri held a Constitutional Convention where the main topic was secession and the vote was to stay in the Union but to remain neutral. In the 1860 Presidential election, Missouri was one of only two states that the Democratic candidate, Stephen A. Douglas, carried (New Jersey being the other) over Republican Abraham Lincoln. The two candidates had met in a series of debates where they discussed their individual beliefs. Douglas had run on a platform that wanted to maintain the status quo, while Lincoln believed that slavery was an issue that needed to be dealt with by the Union as a whole. The Rise of William Quantrill After the onset of the Civil War, Missouri continued itsÃ¢â¬â¢ attempt to remain neutral but ended up with two different governments that supported opposite sides. This caused many instances where neighbors were fighting neighbors. It also led to famed guerrilla leaders like William Quantrill, who built his own army that fought for the Confederacy. William Quantrill was born in Ohio but eventually settled in Missouri. When the Civil War started Quantrill was in Texas where he befriended Joel B. Mayes who would later be elected as Principal Chief of the Cherokee Nation in 1887. It was during this association with Mayes that he had learned the art of guerrilla warfare from Native Americans.Ã Quantrill returned to Missouri and in August 1861, he fought with General Sterling Price at the Battle of WilsonÃ¢â¬â¢s Creek near Springfield. Shortly after this battle, Quantrill left the Confederate Army in order to form his own so-called army of irregulars that infamously became known at QuantrillÃ¢â¬â¢s Raiders. At first, QuantrillÃ¢â¬â¢s Raiders consisted of just over a dozen men and they patrolled the Kansas-Missouri border where they ambushed both Union soldiers and Union sympathizers. Their main opposition wereÃ the JayhawkersÃ¢â¬âguerillas from Kansas whose loyalty was pro-Union. The violence got so bad that the area became known as Bleeding Kansas.Ã By 1862, Quantrill had approximately 200 men under his command and focused their attacks around the town Kansas City and Independence. Since Missouri was divided between Union and Confederate loyalists, Quantrill was easily able to recruit Southern men who resented what they perceived to be the harsh Union rule. James Brothers and Quantrills Raiders In 1863, QuantrillÃ¢â¬â¢s force had grown to over 450 men, one of whom was Frank James, older brother of Jesse James. In August 1863, Quantrill and his men committed what became known as the Lawrence Massacre. They torched the town of Lawrence, Kansas and killed more than 175 men and boys, many of them in front of their families. Although Quantrill targeted Lawrence because it was a center for Jayhawkers, it is believed that the terror that was imposed on the citiesÃ¢â¬â¢ residents stemmed from the Union imprisoning family members of Quantrill supporters and allies, including the sisters of William T. Anderson Ã¢â¬â who was a key member of QuantrillÃ¢â¬â¢s Raiders.Ã A number of these women died, including one of AndersonÃ¢â¬â¢s sisters while imprisoned by the Union.Ã Anderson who was nicknamed Bloody Bill. Quantrill would later have a falling out that caused Anderson to become the leader of most of QuantrillÃ¢â¬â¢s group of guerrillas which would include sixteen-year -old Jesse James. Quantrill, on the other hand now had a force that only a few dozen. The Centralia Massacre In September 1864, Anderson had an army that totaled approximately 400 guerrillas and they were preparing to assist the Confederate Army in a campaign to invade Missouri. Anderson took about 80 of his guerrillas to Centralia, Missouri to gather information. Just outside the town, Anderson stopped a train. On board were 22 Union soldiers who were on leave and they were unarmed.Ã After ordering these men to remove their uniforms, AndersonÃ¢â¬â¢s men then executed all 22 of them. Anderson would later use these Union uniforms as disguises. A nearby Union force of approximately 125 soldiers began to pursue Anderson, who by this time had rejoined his entire. Anderson set a trap using a small number of his force as bait which the Union soldiers fell for. Anderson and his men then surrounded the Union force and killed every soldier, mutilating and scalping bodies. Frank and Jesse James, as well as a future member of their gang Cole Younger,Ã all rode with Anderson that day. The Centralia Massacre was one of the worst atrocities that occurred during the Civil War. The Union Army made it a top priority to kill Anderson and only one month after Centralia they accomplished this goal.Ã In early 1865, Quantrill and his guerrillas had moved on to Western Kentucky and in May, after Robert E. Lee had surrendered, Quantrill and his men were ambushed. During this skirmish, Quantrill was shot in the back causing him to be paralyzed from the chest down. Quantrill died the following as a result of his injuries.
Wednesday, May 6, 2020
Ladan Abdullahi Feminism in Jane eyre and Wide Sargasso Sea A patriarchal society is a world in which men are the sole decision makers and hold positions of power and the highest authority. Patriarchy occurs when men are dominant, not necessarily in numbers but in their status related to decision making and power. As a result, women are introduced to a world made by men, and a history refined by a mans actions. In jean Rhys Wide Sargasso Sea, the author focuses on the history of Bertha, one of the characters who are not given a voice in Charlotte Brontes Jane Eyre. Although, Jane and Bertha have disparate lives, they are both victims of the patriarchal society in which they inhibit.The novels Jane Eyre by Charlotte BronteÃË andÃ¢â¬ ¦show more contentÃ¢â¬ ¦This story is presented in a three part narrative, the middle part being in the first person voice of Rochester (although he is never named), the other two being the voice of Antoinette who later became the mad woman, Bertha in Charlotte Bro ntes Jane Eyre. In the Wide Sargasso Sea, the main character refuses to be controlled by her husband, Mr.Rochester. Rochester renames her, it is evident that he uses this as a means to controls her.By altering her name, he believes that she is his property. Although, Mr.Rochester is attempting break her down physically and mentally, Antoinette, informs Mr.Rochester that she does not agree with him,and speaks up for herself in the process She says: Ã¢â¬ËBertha is not my name. You are trying to make me into someone else, calling me by another nameÃ¢â¬â¢ (Rhys 115). Renaming her is one way in which Rochester exerts his masculine power over his wife, but Antoinette only seems to submit to it. By standing up to Mr.Rochester, she is not allowing herself to be controlled by a man. In the end, however, after all the abuse she suffers under the hand of Mr.Rochester, she manages to break free from the suffering by making her last act of self-determination. By setting Mr.Rochester`s home on fire, the main character is committing an act of female liberation. Knowing that her fate is doomed, and the future is inevitable, Antoinette decides toShow MoreRelatedComparing Wide Sargasso Sea and Jane Eyre Essay1325 Words Ã |Ã 6 PagesJean RhysÃ¢â¬â¢s fiction book, Wide Sargasso Sea is an interesting relation to Jane Eyre. The female character of Jane Eyre forms into a furiously, passionate, independent young woman. The female character of Jean RhysÃ¢â¬â¢s illustration is a character that Jane will know further on as RochesterÃ¢â¬â¢s crazy wife who is bolted in an attic. Jean Rhys further studies this character, where as Charlotte Bronte approved that it was left explained (Thorpe 175). Antoinette, considerably like Jane, evolves in a world withRead MoreCharlotte Brontes Jane Eyre And The Wide Sargasso Sea1612 Words Ã |Ã 7 PagesAuthors write for many different motives. Some authors write to tell their story, while others write to provoke thought. Charlotte Bron teÃ¢â¬â¢s Jane Eyre and Jean RhysÃ¢â¬â¢ The Wide Sargasso Sea are intriguing stories that tell more than just a story. The authors of both these novels are able to explore unimagined social standards, which allows for their characters to rebel against the current standards of society. As the authors seem to make their characters rebel against society, they are able to exploreRead MoreExamine the Ways in Which Rhys Demonstrates How Women Are Victims of a Patriarchal Society in Wide Sargasso Sea.1605 Words Ã |Ã 7 PagesExamine the ways in which Rhys demonstrates how women are victims of a patriarchal society in Wide Sargasso Sea. A patriarchal society is one whereby men are the decision makers and hold positions of power and prestige. Patriarchy refers to a societal structure whereby men are dominant not in number or in force but in their access to status related power and decision making power. In these societies, women are presented with an interpretation of the world made by men, and a history of the worldRead MoreJane Eyre Essay3572 Words Ã |Ã 15 PagesGleaden Word Count: 3238 Compare and contrast the ways in which Bronte and Rhys construct the adult selves of Jane and Antoinette and consider how this shapes their relationship with Rochester. Jane Eyre and Wide Sargasso Sea present the childhoods and later lives of two women, who similarly marry the complex character, Mr. Rochester. Both begin their lives as outsiders, Jane because of economic differences to the rest of her family and Antoinette because of racial distinctions to the restRead MoreBeing the Meat in the Sandwich: Implications of the double colonisation of empire and patriarchy by the female characters in Wide Sargasso Sea2201 Words Ã |Ã 9 Pagesdeveloped directly or indirectly], and unveils [its colonialist] assumptions, subverting the text for post-colonial purposesÃ¢â¬â¢. (Tiffin, 1987) Such a revolutionary literary project is evidently realised in Wide Sargasso Sea by Jean Rhys, a prequel that Ã¢â¬Ëwrites back the centreÃ¢â¬â¢ of Charlotte BrontÃ «Ã¢â¬â¢s Jane Eyre (1847). Rhys is categorical about her conscious authorial intention: Ã¢â¬ËI immediately thought Id write a story as it (the story of Bertha/Antoinette) might really have been.Ã¢â ¬â¢ (Rhys, 1986) The novel revitalizesRead MoreRepresentation of the Other in Charlotte Brontes Jane Eyre Essay4463 Words Ã |Ã 18 PagesRepresentation of the Ã¢â¬ËOtherÃ¢â¬â¢ in Charlotte Brontes Jane Eyre Abstract This study aims at examining the representation of theÃ¢â¬â¢ otherÃ¢â¬â¢ as portrayed in Charlotte Brontes Jane Eyre (1847). It attempts to inspect how the Ã¢â¬ËOtherÃ¢â¬â¢ is viewed in Nineteenth century England and the cultural ideology behind such specific representation. It poses crucial questions as to why the Ã¢â¬ËOtherÃ¢â¬â¢ is always represented negatively in main-stream western narrative as in the case of Bertha Mason who is portrayed asRead MoreAnalysis Of Antoinette Cosways Defiant Journey In Wide Sargasso Sea1920 Words Ã |Ã 8 PagesThe Importance of Self-Truth and Active Protest: Analysis on Antoinette CoswayÃ¢â¬â¢s Defiant Journey in Wide Sargasso Sea Wide Sargasso Sea by Jean Rhys calls forth ideas of feminism and self-worth in the fight against colonization during the 19th century. Antoinette Cosway lived in Jamaica her entire life, and yet, as a white woman, remains alienated from her neighbors throughout the novel. Just a few short years after the Emancipation Act, her family is still greatly suffering from the loss of slave
string(187) " appropriate communication message for attracting the people to Geojit COMtrade Ltd SCOPE OF THE STUDY Globalization of the financial market has led to a manifold increase in investment\." An Industry Internship Project On COMMODITIES FURTURE TRADING WITH RESPECT TO GEOJIT COMTRADE LTD Ã¢â¬â MARKET SURVEY Done at CALICUT, KERALA Under the guidance of MRS. C. ANITHA RANI (Asst. We will write a custom essay sample on Market Survey on Commodities Future Trading or any similar topic only for you Order Now Professor of Marketing Dept. ) (Project Guide) Mr. CHACKO . C. VARGHEESE (Regional manager) (Corporate Guide) Submitted By: LAKSHMI. P. K Roll No: 20028 SIVA SIVANI INSTITUTE OF MANAGEMENT KOMPALLY, SECUNDERABAD ACKNOWLEDGEMENT First of all I would like to thank Geojit COMtrade Ltd, which is a leading organization in commodity trading, for giving me an opportunity to work with them and to do Market Research to gain practical knowledge of how a Commodities Company works. My special obligations to my corporate guide Mr. Chacko C Varghese, Regional manager, GC Branch, Calicut, for granting permission to do the project in their esteemed organization. I thank him for dedicating his valuable time in reviewing my project work periodically and for directing me all the way. I am deeply indebted to thank my faculty guideAsst. Prof. C. Anita Rani. I also like to thank all my faculties who have taught me and haveshared their experience with mewhich has helped us in doing my project. I am thankful to Mr. Ajeesh Paul and Mr. Bijesh K. B, senior executives of Geojit COMtrade ltd, Calicut who was always ready to clarify my doubts related to the topic. And my sincere thanks to them. Also, I am thankful to my family, friends, and classmates and to the Almighty. Date: Signature Place: DECLARATION I, Lakshmi. P. K declare that this project entitled Ã¢â¬Å"Market research on commodity future trading with respect to Geojit COMtrade Ltd. Ã¢â¬ , submitted for the award of the PGDM Triple Specialization is a record of original project Ã¢â¬â research study- carried out during April 5th- June 5th) , that the project has not formed before the basis for the award of any Degree/ Diploma/ Associateship/ Fellowship of any other similar title. Ithas been completed by me at Geojit COMtrade Ltd, Calicut under the guidance ofAsst. Prof. Anita Rani,faculty of marketing department of Siva Sivani Institute of Management. Date: Signature Place: C O N T E N T S DECLARATION ACKNOWLEDGEMENT CERTIFICATE TABLE OF CONTENTS PAGE NO Chapter Ã¢â¬â I Introduction 5 Statement of problem 5 Objectives of the study 6 Scope of study 6 Literature Review 6 Chapter Ã¢â¬â II Industry Profile 8 Company Profile 19 Departmental Details 26 Chapter-III Research Methodology 44 Sources of data 45 Sampling Plan 45 Limitations 45 Chapter IV Data Analysis: Interpretation and Findings 46 Chapter-V SWOT Analysis 71 Conclusion 73 Suggestions 74 Bibliography 75 Annexure 76 CHAPTER -I INTRODUCTION Commodity trading is an area which has gained prominence ever since the dawn of civilization. It can be attributed to the fact that commodities are an integral part of our lives. Over these years there has been a tremendous growth in this segment which in turn has acted as the pillar of strength for the development of our economy. This has made it an attractive investment avenue for investors. Earlier we witnessed lot of money being invested in those companies which specialized in the production of commodities. Now we have a trend reversal; commodities have gained prominence over the times. The rapidly advancing technology, particularly the Internet, has drastically changed the social and economic landscapes and every aspect of our daily lives. In the Securities Industry Futures Commodities, the Internet has facilitated on-line trading, changing the way the market works, as well as the way the investors access the market. Having taken advantage of information technology at an opportune time, India has emerged as a front-running country of on-line trading in the global securities commodities markets. On-line tradingÃ¢â¬ is broadly defined as a trading mechanism where investors place orders and confirm trading results via electronic communication channels, such as the Internet, mobile phones, In India, the whole process of securities commodities transactions, from order placement and routing, order execution, to trade confirmation, is fully automated, thus enabling the investors who have placed orders to confirm their trading results within few seconds. Geojit COMtr ade Ltd. is a commodity trading service firm. It specializes in agricultural commodities, base metals, precious metals, bullion, and energy. The firm engages in trading services on commodities traded on the MCX and NCDEX in India. Its Research Division offers technical and fundamental research services. The firm also provides research on markets, currency, and economy. Geojit COMtrade Ltd. is based in Kochi, India. STATEMENT OF THE PROBLEM Online future commodities trading involve personal factors, technical factors, business factors and economic factors. The interplay of these factors on commodities market requires a deep study about the pattern process and procedures and performance. This study is intended to identify the various concepts about online commodities trading and its way of functioning. 1. To identify the level of awareness of commodities online future trading. 2. To identify the target consumer for online trading of commodities. 3. To identify the preference of customers to various investment avenues like commodity market, shares, mutual fund, bank deposits, insurance, debentures and post office savings. 4. To identify the awareness level of Geojit COMtrade Ltd. and feedback from the customers about the firm. OBJECTIVES OF THE STUDY My project work programmed was also directed to some particular targets and the main objectives of the study are as bellow; 1. To clearly state the awareness level about Geojit commodities 2. To understand the perception of people about Geojit commodities 3. To devise an approach by making people aware of Geojit commodities The Main purpose of conducting the Survey for Geojit COMtrade Ltd * To identify the target consumer for commodities business. * To identify the preference of customers to various investment avenues like commodity market, shares, mutual fund, bank deposits, insurance, debentures and post office savings. To identify the awareness level of Geojit COMtrade Ltd. and feedback from the customers about the firm. * To get a feel of the CustomersÃ¢â¬â¢ perception about Geojit commodities services products. * To find an appropriate communication message for attracting the people to Geojit COMtrade Ltd SCOPE OF THE STUDY Globalization of the financial market has led to a ma nifold increase in investment. You read "Market Survey on Commodities Future Trading" in category "Essay examples" New markets have been opened; new instruments have been developed; and new services have been launched. Besides, a number of opportunities and challenges have also been thrown open. Online Commodities trading is new as compared to Equity market in India. Mainly three exchanges are involved in online commodities trading MCX, NCDEX NMCE LITERATURE REVIEW So many studies are made in the area of commodity future trading. Some of the important studies are reviewed as follows; In a well-known literature survey on commodity futures research, Gray and Rutledge observed that, Ã¢â¬ËAnyone who undertakes a survey of the literature on futures trading is confronted with an amorphous and rather disjointed list of publications (1971 p 57). Some of the pioneers in futures research, like Hol brook Working, Roger Gray, Tom Hieronymus, Allen Paul, and Henry Bakenwere based on an in-depth understanding of economic institutions, an appreciation of the major problems facing the industry, and careful analysis of relevant data. Gray and Rutledge (1971) provide the most comprehensive survey on futures markets and the topics covered in their review include evolutionary aspects of futures markets, inter-temporal price relationships, and concept of hedging, price variability, and the stochastic nature of price fluctuations. The Keynesian theory of normal backwardation was one of the earliest theories of the inter-temporal futures prices and it postulated that futures prices are biased estimates of forthcoming cash prices because hedgers must compensate speculators for assuming the price risk of holding future contracts * Working (1949) developed the idea that the primary function of commodity futures markets was the provision of th e returns for the storage services, and he viewed inter-temporal prices as the jointly determined price of storage. Holbroook Working (1953) categorized alternative motives for commercial hedging in the commodity futures and these categories continue to be valid today. The three arbitrage hedging, operational hedging and anticipatory hedging. Since the futures and cash price converge in the delivery month, a commercial firm can Ã¢â¬ËarbitrageÃ¢â¬â¢ the two markets and earn a risk-free return from the predictable change in the basis- the mathematical difference between the futures and cash price. Operational hedging facilitates commercial business by allowing firms to buy and sell on the futures markets as temporary substitutes for the subsequent cash market transactions. This provides firms with an avenue for being flexible in day-to-day operations and reducing price risk. Anticipatory hedges involve buying or selling futures contracts by commercial firms in Ã¢â¬ËanticipationÃ¢â¬â¢ of the forthcoming cash market transactions. Price expectation plays a major role in this type of hedge. * Leuthold and Tomek (1980) explained that semi-perishables (e. . , butter, eggs, onions, potatoes) were traded at the turn of the century but the introduction of trading in nonstorables such as live hogs and live cattle in the 1960s was a watershed for the industry. They argued that since future prices for nonstorables are not being used to allocate inventories, forward pricing is an important economic justification for these markets They pointed out that some of the farmers remain concern ed about the alleged adverse influence of futures trading. According to theoretical literature, primary commodity producers stand to derive considerable price risk reduction benefit from hedging with either future contracts or forward contracts (Johnson 1960; Stein 1961; McKinson in 1967; Danthine 1978; Holthausen 1979; Feder, Just and Schmitz 1980; Andearson and Danthine 1983) * According to empirical literature either minimum variance hedge ratios or optimal hedge ratios (i. e. % of output to be hedged) and has found large potential risk reduction benefits from hedging (Henifner 1972; Peck 1975; Ederington 1979; Grant and Eaker 198559; Casteino 1992; Lene, Kimle, and Hayenga 1993) * But both theoretical and empirical literature appears to contradict reality because very few primary producers actually hedge (Helmuth 1977; Berk 1981; Brorsen 1995) * Survey results of Blank, Carter and McDonald 1997 found thatfarmers prefer forward contracting to direct hedging with future contracts. According to Miller (1986) the one key distinguishing feature between these two factors is the absence of basic risk in forward contracting. * Carter and Loyns (1985) found that due to a high basis risk, there was a little incentive for Canadian feedlots to hedge cattle on the Chicago futures market. * Rolfo in 1980 suggested production risk as an explanation for the lack of hedging interest in the real world. Most research needs to be directed towards the impact of government farm programs on commodity futures markets, along the lines of Crain and Lee (1996) * The theory of price of storage explains inverted markets by appealing to the concept of convenience yield. According to this theory, the futures price can be less than the spot price plus the cost of carry when the commodity generates convenience yield. CHAPTER -II INDUSTRY PROFILE 1) COMMODITY MARKET A commodity is a material that is traded in big quantities and whose quality standards and price are objective and universally applicable. For example, gold is a commodity because quality standards and price of gold are objective and universal, but gold jewelry is not a commodity because the price of jewelry depends on subjective factors such as design, brand image, etc. Other examples of commodities are: agricultural produce such as food grains, pulses, cotton, etc. ; metals such as nickel, zinc, aluminum, etc. Commodity marketsÃ are markets where raw or primary products are exchanged. These raw commodities are traded on regulatedÃ commodities exchanges, in which they are bought and sold in standardized contracts. It covers physical product (food, metals, and electricity) markets but not the ways that services, including those of governments, nor investment, nor debt, can be seen as a commodity. Commodity Market is an organized traderÃ¢â¬â¢s exchange in which standardized, graded products are bought and sold. Worldwide, there are 50 major commodity exchanges that trade over 100 commodities, ranging from wheat and cotton to silver and oil. The trading of commodities consists of direct physical trading and derivatives trading. Exchange traded commodities have seen an upturn in the volume of trading since the start of the decade. This was largely a result of the growing attraction of commodities as an asset class and a proliferation of investment options which has made it easier to access this market. Commodity trading Spot trading Spot trading is any transaction where delivery either takes place immediately, or with a minimum lag between the trade and delivery due to technical constraints. Spot trading normally involves visual inspection of the commodity or a sample of the commodity, and is carried out in markets such asÃ wholesale markets. Commodity markets, on the other hand, require the existence of agreed standards so that trades can be made without visual inspection. Forward contracts AÃ forward contractÃ is an agreement between two parties to exchange at some fixed future date a given quantity of a commodity for a price defined today. The fixed price today is known as theÃ forward price. Futures contracts AÃ futures contractÃ has the same general features as a forward contract but is transacted through a futures exchange. Futures contracts Ã¢â¬â which set a price for the delivery of a particular commodity in, say, six months or a year Ã¢â¬â are not themselves to blame. TheyÃ¢â¬â¢re the grease that makes these markets function. Futures allow businesses like power companies or airlines to hedge against increases in fuel costs, or food processors to smooth over fluctuations in the price of wheat and corn. Wall Street plays an invaluable role, too, since financial investors Ã¢â¬â those betting that prices will fall, as well as those betting theyÃ¢â¬â¢ll rise Ã¢â¬â provide crucial liquidity. Commodity and futures contracts are based on whatÃ¢â¬â¢s termed forward contracts. Early on these forward contracts Ã¢â¬â agreements to buy now, pay and deliver later Ã¢â¬â were used as a way of getting products from producer to the consumer. These typically were only for food and agricultural products. Forward contracts have evolved and have been standardized into what we know today as futures contracts.. In essence, a futures contract is a standardized forward contract in which the buyer and the seller accept the terms in regards to product, grade, quantity and location and are only free to negotiate the price. Hedging Hedging, a common practice of farming cooperatives insures against a poor harvest by purchasingÃ futures contractsÃ in the same commodity. If the cooperative has significantly less of its product to sell due to weather or insects, it makes up for that loss with a profit on the markets, since the overall supply of the crop is short everywhere that suffered the same conditions. Delivery and condition guarantees In addition, delivery day, method of settlement andÃ delivery pointÃ must all be specified. Typically, trading must end two (or more) business days prior to the delivery day, so that the routing of the shipment can be finalized via ship or rail, and payment can be settled when the contract arrives at any delivery point. Most trading is done in futures contracts, that is, agreements to deliver goods at a set time in the future for a price established at the time of the agreement. Futures trading allow both hedging to protect against serious losses in a declining market and speculation for gain in a rising market. For example, a seller may sign a contract agreeing to deliver grain in two months at a set price. If the grain market declines at the end of two months, the seller will still get the higher price quoted in the future contract. If the market rises, however, speculators buying grain stand to profit by paying the lower contract price for the grain and reselling it at the higher market price. Spot contracts, a less widely used form of trading, call for immediate delivery of a specified commodity and are often used to obtain the goods necessary to fulfill a futures contract. An independent U. S. regulatory agency, the Commodity Futures Trading Commission was established in 1974 to regulate commodity markets. In 1982, the Chicago Mercantile Exchange introduced a futures contract for Standard ; PoorÃ¢â¬â¢s 500 U. S. companies that allow investors to speculate on the future prices of the stocks. Trading of S;P 500 and other financial futures has broken down some of the barriers that once separated stock, bond, and commodity markets and made it easier for investors to hedge their stock investments. Critics charge that the futures trading at the commodity markets in Chicago have made stock prices more volatile. The Chicago Board of Trade is the largest futures and options exchange in the Unites States, the largest in the world is Eurex, an electronic European Exchange. GLOBAL COMMODITY MARKET It is the trading of materials used to make finished products, Is far more important that what the most people give it credit for. ItÃ¢â¬â¢s what to gives millions consumers worldwide their cups of creamy lattes, their breakfast cereals, the steel for their home construction, and even the fuel to run their cars. In fact international commodity trading is a multi-billion dollar business, and on average the number of trade executed in the commodity exchanges are about five times as much as those on major stock exchanges. And to be honest in the recent past it has been anything but dull. In the past five years commodities have provided all the thrills and spills of a high octane Vin Diesel movie. The idea of trading in commodity future contracts is really very old Ã¢â¬âschool, although it has occurred new age glitz because of electronic exchanges. Most experts trace their origins back to Japan, were rice futures were first traded in the 17th century. Future market for precious metals such as gold and silver has also been around since in the 19th century with maize contracts with the Chicago Board Of Trade (CBOT). Basically commodity futures allow buyers and sellers to make bets on the expected future spot prices. They help both sides obtain insurance for the future value of their outputs or inputs. Cereals were first to be traded under the future contracts and the farmers were the first to use such contracts as they protect them from any steep fall in the value of crop harvested in future. Commodity future differed from equity derivatives in three important ways; 1. They are derivative securities not claims on long living corporations. 2. They are short maturity claims on real assets 3. nlike financial assets, they experience distinct seasonal variations in price and volatility Today there are more than 50 commodity exchanges in the world wide trading in more than 100 products. The major products come under five categories; 1. Precious metals (gold, silver, platinum, etc. ) 2. Industrial metals (copper, nickel, aluminum, zinc, etc. ) 3. Agricultural commodities (wheat, corn, cotton, oilseeds, coffee, cocoa, sugar etc. ) 4. Livestock (pork bellies, cattle, etc. ) 5. Energy(crude oil, natural gas, petrol, diesel etc. ) Oil makes up the worldÃ¢â¬â¢s largest commodity future market. Daily turnover on the New York Mercantile Exchange(NY mex) alone totals about $15 billion) followed by coffee, steel, gold and wheat. New contract ideas however keep popping up all the time. For instance, freight futures are also traded on the Norwegian futures and Options Clearing house and the Nymex. While the Chicago Mercantile exchnge9 now taken over by the CBOT) offers contracts on temperatures, useful for hedging agricultural commodity or energy prices. COMMODITY FUTURE TRADING EVOLUTION OF FUTURE TRADING AND ITS PRESENT STATUS Organized future market evolved in India by the setting up of Ã¢â¬Å"Bombay Cotton Trade Association Ltd. in 1875. In 1893, following widespread discontent amongst leading cotton mill owners and merchants over the functioning of the Bombay Cotton Trade Association , a separate association by the name Ã¢â¬Å"Bombay COTTON Exchange Ltd. Ã¢â¬ was constituted. Futures trading in oilseeds were organized in India for the first time with the setting up of Gujarati VyapariMandali in 1900, which carried on futures trading in groundnut, castor seed and cotton. Before the Second World War broke out in 1939 several futures markets in oilseeds were functioning in Gujarat and Punjab. Future trading in Raw Jute and Jute Goods began in Kolkata with the establishment of the Calcutta Hessian Exchange Ltd. , in 1919. Later East Indian Jute Association Ltd. was set up in 1927 for organizing futures trading in Raw Jute. These two association amalgamated in195 to form the present East India Jute ; Hessian Ltd. , to conduct organized trading in both Raw Jute and Jute goods. In case of wheat, future markets were in existence at several centers at Punjab and U. P. The most notable amongst them was Chamber of Commerce at Hapur, which was established in1913. Other markets were located at Amritsar, Moga, Ludhiana, Jalandhar, Fazilka, Dhuri, Barnala and Bhatinda in Punjab and Muzaffarnagar, Chansausi, Meerut, Saharanpur, Hathras, Ghazibad, Sikenderabad and Barielly in U. P. Futures market in Bullion began at Mumbai in 1920 and later similar markets came up at Rajkot, Jaipur, Jamnagar, Kanpur, Delhi and Calcutta. In due course several other exchanges were also created in the country to trade in such diverse commodities as pepper, turmeric, potato, sugar and Gur (jaggory). After independence, the Constitution of India brought the subject of Ã¢â¬Å"Stock Exchanges and FuturesÃ¢â¬ in the Union list. As a result, the responsibility for regulation of commodity futures markets developed on Govt. of India. A bill on forward contracts was reffered t an expert committee headed by Prof. A. D. Shroff select committees of two successive Parliaments and finally in December 1952 Forward Contracts (Regulation) Act, 1952, was enacted. The Act provided for 3-tier regulatory system; (a) An association recognized by the Government of India on the recommendation of Forward markets Commission (b) The Forward Markets Commission (it was set up in September 1953) (c) The Central Government. Forward Contracts (Regulation) Rules were notified by the Central Government in July, 1954. The Act divides the commodities into 3 categories with reference to extent of regulation, viz: (a) The commodities in which futures trading can be organized under the auspices of recognized association. (b) The Commodities in which the future trading is prohibited. (c) Those commodities in which have neither being traded under the recognized association nor prohibited are referred as free Commodities and the association organized in such free commodities is required to obtain the certificate of Registration from the forward Markets Commission. In the seventies, most of the registered associations became inactive, as futures as well as forward trading in the commodities for which they were registered came to be either suspended or prohibited altogether. The Khursho Committee(June 1980) had recommended reintroduction of futures trading in most of the major commodities, including cotton, Kapas, raw jute and jute goods and suggested that steps may be taken for introducing futures trading in commodities, like potatoes, onions, etc. at appropriate time. The government, accordingly initiated futures trading in Potato during the latter half of 1980 in quite a few markets in Punjab and Uttar Pradesh. After the introduction of economic reforms since June 1991 and the consequent gradual trade and industry liberalization in both the domestic and external sectors, the Govt. of India appointed in June 1993 one more committee on Forward Markets under Chairmanship of Prof. K. N. Kabra. The Committee submitted its report in September 1994. THE MAJORITY REPORT OF THE Committee ecommended that futures trading be introduced in 1) Basmati Rice 2) Cotton ; Kapas 3) Raw Jute ; Jute Goods 4) Groundnut, rapeseed/mustard seed, cottonseed, sesame seed, sunflower seed, safflower seed, copra and soya bean, ; oils and oilcakes of all of them. 5) Rice brain oil 6) Castor oil ; its oilcake 7) Linseed 8) Silver ; 9) Onions. The committee also recommended that some of the existing commodity exchanges particularly the ones in pepper and castor seed, may be upgr aded to the level of international future markets. The liberalized policy being followed by the Government of India and the gradual withdrawal of the procurement and distribution channel necessitated setting in place a market mechanism to perform the economic functions of price discovery and risk management. The National Agriculture Policy announced in July 2000 and announcements of HonÃ¢â¬â¢ble Finance Minister in the Budget Speech for 2002-2003 were indicative of Governments resolve to put in place a mechanism of futures trade/market. As a follow up the Government issued notifications on 1. 4. 003 permitting futures trading in the commodities, with the issue of these notifications futures trading is not prohibited in any commodity. Options trading in commodity are, however presently prohibited. ECONOMIC BENEFIT OF FUTURE TRADING ; ITS PROSPECTUS Futures contracts perform two important functions of price discovery and price risk management with reference to the given commodity. It is useful to all segments of economy. It is useful to producer because he can get an idea of the price likely to prevail at a future point of time and therefore can decide between various competing commodities, the best that suits him. It enables the consumer get an idea of the price at which commodity would be available at a future point of time. He can do proper costing and cover his purchases by making forward contracts. The futures trading is very useful to the exporters as it provides an advance information of the price likely to prevail and thereby help the exporter in quoting a realistic price and thereby secure export contract in a competitive market. Having entered into an export contract, it enables him to hedge his risk by operating in futures market. Other benefits of futures are: (i) Price stabilization-in times of violent price fluctuations Ã¢â¬â this mechanism dampens the peaks and lifts up the valleys i. e. the amplitude of price variation is reduced. (ii) Leads to integrated price structure throughout the country. (iii) Facilitates lengthy and complex, production and manufacturing activities. (iv) Helps balance in supply and demand position throughout the year. (v) Encourages competitions and acts as a price barometer to farmers and other trade functionaries. Futures trading are also capable of being misused by unscrupulous speculators. In order to safeguard against uncontrolled speculation certain regulatory measures are introduced from time to time. They are: (a) Limit an open position of an individual operator to prevent over trading. (b) Limit on price fluctuation (daily/weekly) to prevent abrupt upswing or downswing in prices (c) Special margin deposits to be collected on outstanding purchases or sales to curb excessive speculative activity through financial restraints. d) Minimum/maximum prices to be prescribed to prevent future prices from falling below the levels that are un remunerative and from rising above the levels not warranted by genuine supply and demand factors. During shortages, extreme like skipping trading in certain delivers of contract, closing the markets for a specified period and even closing out the contract to overcome emergency situations are taken. PROSPECTS With the gradual withdrawal of the government from v arious sectors in the ost liberalization era, the need has been felt that various operators in the commodities market be provided with a mechanism to hedge and transfer their risks. IndiaÃ¢â¬â¢s obligation under WTO to open agriculture sector to world trade would require futures trade in a wide variety of primary commodities and their products to enable diverse market functionaries to cope with the price volatility prevailing in the worlds market. CHARECTERISTICS OF FUTURE TRADING A Ã¢â¬Å"Futures ContractÃ¢â¬ is a highly standardized contract with certain distinct features. Some of the important features are as under: (a) Futures trading are necessarily organized under the auspices of a market association s that such trading is confirmed to or conducted through members of the association in accordance with the procedure laid down in the Rules ; byelaws of the association. (b) It is invariably entered into for a standard variety known as Ã¢â¬Å"basis varietyÃ¢â¬ with the permission to deliver other identified varieties known as Ã¢â¬Å"tender able varietiesÃ¢â¬ . (c) The units of price quotation and trading are fixed in these contracts, parties to the contracts not being capable of altering these units. d) The delivery periods are specified. (e) The seller in a futures market has the choice to decide whether to deliver goods against outstanding sale contracts. In case he decides to deliver goods, he can do so not only at the location of the Association through which trading is organized but also at a number of other pre-specified delivery centers. (f ) In futures market actual delivery of goods takes place only in a very few cases. Transactions are mostly squared up before the due date of the contract and contract and contracts are settled by payment of differences without any physical delivery of goods taking place. RECENT TRENDS IN COMMODITY TRADING NatureÃ¢â¬â¢s Commodity Outputs Commodity thinking is undergoing a more direct revival thanks to the theorists of Ã¢â¬Å"natural capital whose products, some economists argue, are the only genuine commodities- air, water and calories we consume being mostly interchangeable when they are free of pollution or disease. Whether we wish t think of these things as tradable commodities rather than birthrights has been a major source of controversy in many nations. Most types of environmental economics consider the shift to measuring them inevitable arguing that reframing political economy to consider the flow of these basic commodities first and foremost, helps avoids use of any military fiat except to protect Ã¢â¬Å"natural capitalÃ¢â¬ itself, and basing credit-worthiness more strictly on commitment to preserving biodiversity aligns the long-term interests of eco regions societies, and individuals. They seek relatively conservative sustainable development schemes that would be amiable to measuring well-being over long periods of tie, typically Ã¢â¬Å"seven generationsÃ¢â¬ , in line with Native American thought. Weather trading However, this is not the only way in which commodity thinking interacts with ecologistsÃ¢â¬â¢ thinking. Hedging began as a way to escape the consequences of damage done by natural conditions. It has matured not only into a system of interlocking guarantees, but also into a system of indirectly trading on the actual damage done by weather, using weather derivatives for a rice, this relieves the purchaser of concerns such as whether a freeze will hurt the Brazilian coffee crop, whether there will be a drought in the U. S. orn belt and what the chances that we will have a cold winter are, driving natural gas prices higher and creating havoc in Florida orange areas. Emissions Trading Weather trading is just one example of Ã¢â¬Å"negative commoditiesÃ¢â¬ , units of which represent harm rather than good. Ã¢â¬Å"Economy is three fifths of ecology argues Mike Nickerson one of many economic theorists who hold that natureÃ¢â¬â¢s productive services and waste disposal serv ices are poorly accounted for. One way to fairly allocate the waste disposal capacity of nature is Ã¢â¬Å"cap and tradeÃ¢â¬ - market structure that is used to trade toxic emissions rights in the United States, e. . SO2. This is in effect a Ã¢â¬Å"negative commodityÃ¢â¬ , a right to throw something away. In this market, the atmosphereÃ¢â¬â¢s capacity to absorb certain amounts of pollutants is measured, divided into units, and traded amongst various market players. Those who emit more SO2 must pay those who emit less. Critics of such schemes argue that unauthorized or unregulated emissions still happen, and that Ã¢â¬Å"grandfatheringÃ¢â¬ schemes often permit major polluters, such as the state governmentsÃ¢â¬â¢ own agencies, or poorer countries, to expand emissions and take jobs, while the SO2 output still floats over the border and causes death. In practice, political pressure has overcome most such concerns and it is questionable whether this is a capacity that depends on U. S. clout: The Kyoto Protocol established a similar market in global greenhouse gas emissions without U. S. support. Community as a commodity This highlights one of the major issues with global markets of either the positive or negative kind. A community must somehow believe that the commodity instrument is real, enforceable, and well worth paying for. Avery substantial part of the anti-globalization movement opposes the Commodification of currency, national sovereignty, and traditional cultures. The capacity to repay debt, as in the current global credit money regime anchored by the Bank for international settlements, does not in their view correspond to measureable benefits to human wellbeing worldwide. They seek a fairer way for societies to compete in the global markets that will not require conversion of natural capital to natural resources nor human capital to move to developed nations in order to find work. Some economic systems green economists would replace Ã¢â¬Å"gold standardÃ¢â¬ with a Ã¢â¬Å"biodiversity standardÃ¢â¬ . It remains to be seen if such plans have any merit other than as olitical ways to draw attention to the way capitalism itself interacts with life. Human life as a commodity The green economists and the more conservative environmental economics argue that not only natural ecologies, but also the life of the individual human being is treated as a commodity by the global markets. A good example is the IPCC calculations cited by the Global Commons Institute as placing a value on a human life in the developed world Ã¢â¬Å"15x higherÃ¢â¬ than in the developing world, based solely on the ability to pay to prevent climate changes. Overview of commodities exchange in India Forward Markets Commission (FMC) headquartered at Mumbai, is a regulatory authority which is overseen by the Ministry of Consumer Affairs, Food and Public Distribution, Govt. of India. It is a statutory body set up in 1953 under the Forward Contracts (Regulation) Act, 1952. Ã¢â¬Å"The Act provides that the Commission shall consist of not less than two but not exceeding four members appointed by the Central Government out of them being nominated by the Central Government to be thereof. Currently Commission comprises three members among whom Shri. B. C. Khatua, IAS, IS THE Chairman and Shri. D. S. Kolamkar IES, and Shri Rajeev Kumar Agarwal, IRS, are the members of the commission. Ã¢â¬ The functions of Forward Markets Commission are as follows: (a) To advise the Central Government in respect of the recognition or the withdrawal of recognition from any association or in respect of any other matter arising out of the administration of the Forward Contracts(Regulation) Act 1952. (b) To keep forward markets under observation and to take such action in relation to them, as it may consider necessary, in exercise of the powers assigned to it by or under the Act. c) To collect and whenever the Commission thinks it necessary, to publish information regarding the trading conditions in respect of goods to which any of the provisions of the act is made applicable, including information regarding supply, demand and prices, and to submit to the Central Government, periodical reports on the working of forward markets relating to such goods. (d) To make recommendations generally with a view to improving the organization and working of forward markets. (e) To understand the inspection of the accounts and other documents of any recognized association or any member of such association whenever it considers. List of Commodity Exchanges in India 1. Batinda Om ; Oil Exchange Ltd. , Batinda. 2. The Bombay Commodity Exchange Ltd. , Mumbai 3. The Rajkot Seeds oil ; Bullion Merchants` Association Ltd 4. The Kanpur Commodity Exchange Ltd. , Kanpur 5. The Meerut Agro Commodities Exchange Co. Ltd. , Meerut 6. The Spices and Oilseeds Exchange Ltd. 7. Ahmedabad Commodity Exchange Ltd. 8. Vijay Beopar Chamber Ltd. , Muzaffarnagar 9. India Pepper ; Spice Trade Association, Kochi 10. Rajdhani Oils and Oilseeds Exchange Ltd. , Delhi 11. National Board of Trade, Indore 12. The Chamber Of Commerce, Hapur 13. The East India Cotton Association, Mumbai 4. The Central India Commercial Exchange Ltd. , Gwalior 15. The East India Jute ; Hessian Exchange Ltd. 16. First Commodity Exchange of India Ltd, Kochi 17. Bikaner Commodity Exchange Ltd. , Bikaner 18. The Coffee Futures Exchange India Ltd, Bangalore 19. Esugarindia Limited 20. National Multi Commodity Exchange of India Limited 21. Surendranagar Cotton oil ; Oilseeds Association Ltd 22. Multi Commodity Exchange of India Ltd 23. National Commodity ; Derivatives Exchange Ltd 24. Haryana Commodities Ltd. , Hissar 25. e-Commodities Ltd Of these 25 commodities exchanges the MCX, NCDEX and NMCEIL are the major Commodity Exchanges. MultiÃ commodity exchangeÃ of India Ltd Ã¢â¬â MCX is an independent and de-mutualised exchange based in Mumbai. Established on 10 November, 2003, it is the third largest bullion exchange and fourth largest energy exchange in the world. Recognized by the Government of India it deals in numerous commodities and carries out online trading, clearing and settlement processes for commodities future marketÃ countrywide. MCX COMDEX is IndiaÃ¢â¬â¢s foremost and sole composite commodity futures price index National Commodity Derivatives Exchange of India Ltd (NCDEX) located in Mumbai, is a public limited company incorporated on 23rd April 2003. Promoted by national level establishments it is run by professional management. Regulated by the Forward Market Commission with reference to futures trading in commodities, it trades in various commodities online. The NCDEX is covered by: * Companies Act * Stamp Act * ContractsÃ Act * Forward Commission (Regulation) Act National Multi-Commodity Exchange of India Limited (NMCEIL) is considered the first de-mutualized, online exchange dealing in numerous commodities. Incorporated on 20th December 2001, it is promoted and run by: * Central Warehousing Corporation National Agricultural Cooperative Marketing Federation of India Limited * Gujarat Agro Industries Corporation Limited * National Institute of Agricultural Marketing * Gujarat State Agricultural Marketing Board * Neptune Overseas Limited The Commodity Exchanges with their extensive reach embrace new participants, resulting in a powerful price discovery process. COMPANY PROFILE Evolution of the company It all started in the yea r 1987 when Mr. C. J. George and Mr. Ranajit Kanjilal founded Geojit as a partnership firm. In 1993, Mr. Ranajit Kanjilal from the firm and Geojit became the proprietary concern of Mr. C. J. George. In 1994, it became a Public Limited Company named Geojit Securities Ltd. The Kerala State Industrial Development Corporation Ltd. (KSIDC) in 1995, became a co-promoter of Geojit by acquiring a 24 percent stake in the company, the only instance in India of a government entity participating in the equity of a stock broking company. The year 1995 also saw Geojit being listed on the leading regional stock exchanges. Geojit listed at the stock exchange, Mumbai (BSE) in the year 2000. CompanyÃ¢â¬â¢s wholly owned subsidiary, Geojit Commodities Ltd. launched Online Future Trading in Agri -commodities, precious metals and energy futures on multiple commodity exchanges in 2003. This was also the year when the company was renamed Geojit Financial Service Ltd. (GFSL). The Board consists of professional directors; including a Kerala Government nominee. With effect from July 2005, the Company is also listed at National Stock Exchange (NSE). Company is a character member of the Fina ncial Planning Standards Board of India and is one of the largest Depository Participant (DP) brokers in the country. On 31st December 2007, the company closed its commodities business and surrendered its membership in the various commodity exchanges held by Geojit Commodities Ltd. Global banking major BNP Paribas took a stake in the year 2007 to become the single largest shareholder. Consequently, Geojit Financial Services Ltd. has been renamed as Geojit BNP Paribas Financial Services Ltd. VISION The vision of Geojit is to be leading financial and commodities market intermediary for individuals and institutional clients from India band overseas. They continually strive to raise their products and service standards by intelligent application of technology and processes. MANAGEMENT OF GEOJIT COMTRADE Geojit COMtrade offers trading services in Commodities Futures. It is managed by a group of professionals having considerable years of experience and expertise in Commodities, ever since the reintroduction of Commodities Futures in India in 2003. Geojit COMtrade offers its client state-of-art trading tools such as: Ã * | * Technical and fundamental analysis at this website and also through the companyÃ¢â¬â¢s large branch network | * | * Research Reports | | * SMS alerts on market movement | * | * Content rich website | * | * Online trading | * | * Facility to view online ledger, holdings, positions, etc. | Geojit COMtrade also conducts seminars, distributes free in-house literature and holds interactive sessions that help raise awareness on the future market. The number of participants is continuously on the rise thus leading to increased volumes and market efficiency. Geojit COMtrade is a member of the following Exchanges: * National Multi Commodity Exchange of India Limited (NMCE) | | * National Commodity ; Derivatives Exchange Limited (NCDEX) | | * Multi Commodity Exchange of India Limited (MCX) | | * National Spot Exchange of India Ltd (NSE) | Geojit COMtrade offers futures trading through multiple exchanges in varied commodities such as: Agricultural Commodities: | * Plantation Crops like Rubber, Coffee, Arecanut, etc. | | * Spices like Pepper, Cardamom, Turmeric, Jeera, Chilly, etc. | | * Pulses like Chana | | * Oil ; Oil Seeds like Refined Soya oil, Soya bean, Cotton seed, Mustard Seed, Mustard oil, etc. | * Cereals like Maize | | * Other commodities like Guar gum, Guar seed, Menthaoil, Potato, Sugar, etc. | | * Commodity Spot products like E Gold, E Silver, E Copper, E Lead, and E Zinc. | Precious metals: | * Gold, Silver, and Platinum | Metals: | * Copper, Lead, Aluminum, Steel, Tin, Nickel, Zi nc, etc. | Energy products: | * Crude oil, Natural Gas, Carbon Credits, etc. MILESTONES | | | Product innovation backed by a high level of domain specific knowledge and state-of-the-art technology has helped Geojit to set many milestones including numerous industries. 986 * Membership in Cochin Stock Exchange (CSE). 1994Ã * Becomes a Public Limited Company named Geojit Securities Ltd. 1995Ã * Kerala State Industrial Development Corporation Ltd. (KSIDC) acquires 24 percent equity stake. * Membership in National Stock Exchange (NSE). * Public IssueÃ Ã Ã Ã Ã Ã Ã 1996 * Launch of Portfolio Management Services with SEBI registration. 1997Ã * Depository Participant (DP) under National Securities Depository Limited. 1999Ã * Membership in Bombay Stock Exchange (BSE). 2000 * BSE Listing. * 1st broking firm in India to offer online trading facility. * Commences Derivative Trading with NSE. Integrates the 1st Bank Payment Gateway in the country for Internet Trading. 2 001 * Becomes IndiaÃ¢â¬â¢s first DP to launch depository transactions through Internet. * Establishes Joint Venture in the UAE to serve NRI customers. 2002 * 1st in India to launch an integrated internet trading system for Cash Derivatives segments. 2003 * Geojit Commodities Limited, wholly owned subsidiary, launched Online Futures Trading in agri-commodities, precious metals and in energy futures on multiple commodity exchanges. * National launch of online futures trading in Rubber, Pepper, Gold, Wheat and Rice. Company renamed as Geojit Financial Services Ltd. 2004 * National launch of online futures trading in Cardamom. 2005 * NSE Listing. * Geojit Credits, a subsidiary, registers with RBI as a Non-Banking Financial Company (NBFC). * National launch of online futures trading in Coffee. 2006 * Charter member of the Financial Planning Standards Board of India. 2007 * BNP Paribas takes a stake in the companyÃ¢â¬â¢s equity, making it the single largest shareholder. * Establishes Joint Venture in Saudi Arabia to serve the Saudi national and the NRI. 2008 * BNP Paribas Securities India (P) Ltd. Ã¢â¬â a Joint Venture with BNP Paribas S. A. or Institutional Brokerage. * 1st brokerage to offer full Direct Market Access execution in India for institutional clients. 2009 * Launch of Property Services division. * Launch of online trading in Currency Derivatives. * Consequent to BNP Paribas becoming the largest stakeholder in Geojit BNP Paribas, company is renamed as Geojit BNP Paribas Financial Services Ltd. 2010 * Launch ofÃ FLIP (Financial Investment Platform), a new advanced online investment platform. * Launch of state of the art Mobile Trading platform to empower clients to trade from anywhere, even while on the move through the innovative application FLIP- ME. | | | | | Board of DirectorsMr. A. P. KurianÃ Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Non Ã¢â¬â Executive Independent ChairmanMr. C. J. George Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Managing Director Chief PromoterMr. Alkeshkumar SharmaÃ Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Non Ã¢â¬â Executive Independent DirectorMr. Olivier Le GrandÃ Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Non Ã¢â¬â Executive DirectorMr. Pierre RousseauÃ Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Non Ã¢â¬â Executive DirectorMr. Mahesh Vyas Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Non Ã¢â¬â Executive Independent DirectorMr. RakeshJhunjhunwala Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Non Ã¢â¬â Executive DirectorMr. RamanathanBupathy Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Non Ã¢â¬â Executive Independent DirectorMr. Pun noose George Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Non Ã¢â¬â Executive DirectorA growing footprintWith a presence in almost all the major states of India, the network of 558 offices across 300 cities and towns presently covers Andhra Pradesh, Bihar, Chattisgarh, Goa, Gujarat, Haryana, Jammu Kashmir, Karnataka, Kerala, Madhya Pradesh, Maharashtra, New Delhi, Orissa, Punjab, Rajasthan, Tamil Nadu Pondicherry, Uttar Pradesh, Uttaranchal and West Bengal. GEOJITCOMMODITIES * Number 1 Broking house status in terms of Trading Terminals : Dun Bradstreet Survey 2008 * The first brokerage to offer online trading in Rubber (Mar 2003), Pepper (Apr2003), Gold (Oct2003), Wheat and Rice (Dec2003), Cardamom (Apr 2004) and Coffee (Feb2006) * Brand image of Industry Pioneer since inception of commodity futures in 2003| Its clientele range from investors, co-operative societies, state and national institutions to dealers, traders, manufacturers, financiers, speculators, arbitragers, etc. Geojit COMtrade does not have proprietary interest in any commodity and therefore is price neutral. Transaction costs are highly affordable attracting a spectrum of investors. Membership in multiple exchanges gives clients the added advantage of arbitrage. Geojit has specialized staff that provide the required guidance, help and enable clients to enter at the appropriate price. Geojit COMtrade: Increasing investor awareness/education * Daily, weekly and special reports on various commodities currencies covering both international as well as domestic markets. Seminars and workshops designed to help both the new clients as well as experienced traders. * Increased media spending to make ourselves more visible in print, visual as well as digital media, so that our reports and views reach better to our investors. * Offers SMS / email reports at no additional cost. GEOJIT ANTHEM DRIVEN BY TRUST Ã¢â¬Å"With trust, our driving force Transparent in daily chores, Passionate, compassionate, We keep Geojit on course Respectful of our call We care for our patronsÃ¢â¬â¢ all. Grateful for our growth before We seek blessings to grow tall. Shanti ho barabaar shanti ho Sayyam, Samridhi, Swaasthya ho, Geojit Jahaan ho! Expanding far and wide, And serving the world with pride, Loyalty inspiring us To be beyond the high tide; A brighter word to make Unfurling the flag we take; Ã¢â¬Å"All for one and one for all,Ã¢â¬ With love to last above all. DEPARTMENTAL STUDY Administration * Provides support and service for the activities of the board of directors * Coordination of branch activities and provision of interaction between branches and the main office * Expanding the reorganization of Bank market network. * To create appropriate condition for efficient operation of structural franchisees Human resource Human Resources and Administration department is one, which facilitates smooth working of the organization by looking into the human resource side and also the overall administration of organization. The Human Resource Management is very important for the success of any organization. Different individual exhibit similar and dissimilar pattern of behavior. They have their own set of needs, drives, goals and experiences. Management should be aware of their requirements. Manpower management is the most critical job. Proper human resources management will enhance the efficiency and performance of people at work. HR MISSION * To create HR policies and processes which are employee friendly * To build a culture of warm forthcoming and professional with a sense of ownership and pride. * To encourage innovative thinking. * To encourage transparency and team work. * To develop leaders at all levels with general management skills. * To create a learning organization. * To develop competencies and skills through training and development. * To constantly raise levels of employee productivity. * To work towards attaining and sustaining the best employer status Other functions ofHuman Resource Department Recruitment Recruitment means generating a pool of qualified employees for job. Announcing job opportunities to public in such a way that number of suitable people will apply for them. Recruitment process is done only at the initial stage. Mainly qualified people are selected for work. Selection Selection means choosing right profile from that number, those applicants whom are most likely to succeed in the job. After getting the list of candidates an interview is conducted at the unit level. Final selection is made after testing their skill and technical abilities by putting them on the job. Training and development Training and development is also done in Geojit. After recruitment and selection the new hands are given on the job training at the unit level. All workers are kept as trainers for three months to one year. Later they are absorbed as permanent workers considering their performance. Promotion Promotion is the transfer of an employee to a new position which comments high pay, privilege status both at work and the community outside and fringe benefits perhaps the greater job security. And more senior position from which a person render better service to his company. His duties, responsibilities, status and pay also increase. Company gives keen attention with regard to promotion. Wage structure Wage structure is different for different position Allowances Second most important component of wage package is dearness allowance, which is paid to offset the rise in prices. Allowances like conveyance, house rent etc. Employees provident fund Company follows contributory provident fund. The workers contribute some percentage of their wage (basic pay + DA) and the management contributes at an equal rate. Labor welfare fund There is a labor welfare fund in which the employee contributes some rupee per head and the employer contributes at double to the same. The fund enables the subscriber to get children treatment of self and dependents etcÃ¢â¬ ¦ Thus all employees are covered social security schemes of government, enabling education of children of workers etc. Gratuity Employees are eligible for the gratuity based on payment of Gratuity Act, 1972 Welfare to workers Rest room A rest mean is covered provided to employees to relax at concerned time. Facilities of relaxing The company also provides siting facilities for workers when they are getting interval or lunch. Health One of the important thing is that the employees general health both physical and mental should be cared. The factors which influence the general health of the worker can be divided into two broad groups. 1) Those which are associated with his working environment 2) Those which he shares with the rest of the community Cleanliness The company is kept clean and free from effluvia. Accumulation of dust removed by proper drainage facility made in the chemical treatment. Walls, doors and windows shall be repainted or varnished at least once in three years Disposal of waste and effluence Effective arrangement shall be made for the disposal of waste. It does not harm any local people in any way. Ventilation and temperature Effective arrangements shall be made for ventilation and temperature so as to provide comfort to the workers and prevent injury to their health. Adequate ventilation is made for fresh air. Air condition is provided for every room. Dust and fires Effective management shall be taken preview the inhalation and accumulation of dust and fires or other impurities in parities at workplace. Lighting The state government may prescribe standards of proper artificial nature lighting facilities are included. Drinking water There shall be effective arrangements for some drinking water for worker at convenient points. FINANCE AND ACCOUNTS Finance is the lifeblood of any organization. It deals with both the acquisition as well as Ã¢â¬Ëallocation of funds. Hence finance department assumes a great role in this organization. A finance department in an organization is responsible for maintaining fair and just accounting, working capital management, long term funding decision making, costing etc. The finance department provides authorization and control to all other subsystems to utilize money more effectively through a well-designed mechanism the major functions of a finance department can be grouped as follows:- )Preparation of financial statement 2) Providing sufficient funds to all departments. 3) Cash flows within the firm 4) Cash forecasting and budgeting 5) Analysis of transactions conducted by each branch office 6) Pay in and Pay out DUTIES AND RESPONSIBILITIES Chief financial officer is the head of the finance department the entire financial operationsare controlled and coordinated by C. F. O . The entire reports are submitted before him and it is his duty to take appropriate steps. He is assisted by Chief Manager Finance. The general accounts of the company are managed by the Chief Manager. Preparation of reports and statements also conies under his duty, matters concerning pay in and pay out are also determined and analyzed by Chief Finance Manager. The Chief Manager is assisted by Manager Finance. Below him there are two assistant managers, four executives and three junior executives. It is the duty of these people to record and analyze the normal accounts and transactions of a day and to report it to Chief Manager Finance. HIERARCHY OF AUTHORITY CHIEF FINANCIAL OFFICER CHIEF MARKETING OFFICER (fig-1)Department structural hierarchy JUNIOR EXECUTIVE EXECUTIVE ASSISTANT MANAGER MANAGING OFFICER The departmentis concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be betterÃ equipped in their management and control functions. The accounting department jointly performs the financial function of Geojit Functions of accounting department include preparing, checking and accounting the following vouchers andÃ bills. ? Cash receipt and cash payment. ?Bank receipt and bank payment. ? Purchase journal. Journal voucher. ?Preparing debit/credit notes. Updating vouchers in computer system. ?Preparation of reconciliation statement such as bank, party accounts etc. ?Maintain and safe custody of vouchers, records, ledgers and registers. ?Review of the generalÃ ledger and sub ledger and reconciliation. ?Ensure safety custody of cash andÃ unused cheque. ?Maintain the fixed asset register and ensure proper filling of the bills of pur chase, installation certificate etc. for the tax purpose. ?Ensure compliance of the various commitments for the borrowings and adherence of the schedule for the repayment of the interest and the principal. OPERATIONS DEPARTMENT The past few decades have given-emphasis to operations functions mainly because it is the important subsystem of an organization and is responsible for customer satisfaction. As this department deals directly with customer satisfaction the company requires careful policies and procedures to carry out the activities under the operations department so that the services provided by them must be of a specific quality. The operations department of Geojit is again subdivided into five according to the services they deal with. They are 1) Risk management ; clearing and settlement ) Compliance 3) Commodity 4) Branch operations 5) Depository A study of each of these subdivisions is made their hierarchy, function of each official and the findings are noted in the coming pages. RISK MANAGEMENT ; CLEARING AND SETTLEMENT This is one of the subdivisions of the operations department. As stated earlier the operations departments are subdivided according to the functions they pe rform. Hence it is this subdivision of operations department which deals with the function of management of funds that arise from trading. Though buying and selling of shares take place daily in stock exchanges, settlements of transactions is executed for a specified no: of days after clubbing daily transactions for the entire period. This is known as settlements cycle. For example the beginning of a new settlement is on Wednesday of every week in N. S. E and it ends on next Tuesday. So it is the duty of this subdivision of the operations department to keep the recordsregarding transactions of each customer analyze whether he had made all the transactions in a proper way or not. It is the duty-of this department to check whether a person has paid the amount completely, if he had bought any shares and also to check whether the person is paid completely if he had sold the shares through Geojit. The chief manager (Risk and settlement) stands up in the hierarchy of the department and hence he is the head of the department. He controls and coordinates all the functions of this subdivision. Risk management of funds (of company and its branches) is one of the major functions. The chief manager is assisted by the senior manager (clearing and settlement). The senior manager (clearing and settlement) deals with the process of buying andselling of shares and thereby maintaining proper funds. There is an Asst. Manager under himwho checks the B. S. E operations. The Asst. Manager is assisted by three Ã¢â¬Ësenior executivesÃ¢â¬â¢ further there are executives junior executives and office assistants to help the topmanagement. A diagrammatic representation of the hierarchy of this departmental subdivision is given on next page. MANAGEMENT ; CLEARNING ; SETTLEMENT CHIEF MANAGER (RISK) SENIOR MANAGER (CLEARING ; SETTLE How to cite Market Survey on Commodities Future Trading, Essay examples
Saturday, April 25, 2020
King Lear - Theme of Blindness In Shakespearean terms, blinds means a whole different thing. Blindness can normally be defined as the inability of the eye to see, but according to Shakespeare, blindness is not a physical quality, but a mental flaw some people possess. Shakespeare's most dominant theme in his play King Lear is that of blindness. King Lear, Gloucester, and Albany are three prime examples Shakespeare incorporates this theme into. Each of these character's blindness was the primary cause of the bad decisions they made; decisions which all of them would eventually come to regret. The blindest bat of all was undoubtedly King Lear. Because of Lear's high position in society, he was supposed to be able to distinguish the good from the bad; unfortunately, his lack of sight prevented him to do so. Lear's first act of blindness came at the beginning of the play. First, he was easily deceived by his two eldest daughters' lies, then, he was unable to see the reality of Cordelia's true love for him, and as a result, banished her from his kingdom with the following words: ?..................................for we Have no such daughter, nor shall ever see That face of her again. Therefore be gone Without our grace, our love, our benison.? (Act I, Sc I, Ln 265-267) Lear's blindness also caused him to banish one of his loyal followers, Kent. Kent was able to see Cordelia's true love for her father, and tried to protect her from her blind father's irrationality. After Kent was banished, he created a disguise for himself and was eventually hired by Lear as a servant. Lear's inability to determine his servant's true identity proved once again how blind Lear actually was. As the play progressed, Lear's eyesight reached closer to 20/20 vision. He realized how wicked his two eldest daughters really were after they locked him out of the castle during a tremendous storm. More importantly, Lear saw through Cordelia's lack of flatterings and realized that her love for him was so great that she couldn't express it into words. Unfortunately, Lear's blindness ended up costing Cordelia her life and consequently the life of himself. Gloucester was another example of a character who suffered from an awful case of blindness. Gloucester's blindness denied him of the ability to see the goodness of Edgar and the evil of Edmund. Although Edgar was the good and loving son, Gloucester all but disowned him. He wanted to kill the son that would later save his life. Gloucester's blindness began when Edmund convinced him by the means of a forged letter that Edgar was plotting to kill him. Gloucester's lack of sight caused him to believe Edmund was the good son and prevented him from pondering the idea of Edmund being after his earldom. Near the end of the play, Gloucester finally regained his sight and realized that Edgar saved his life disguised as Poor Tom and loved him all along. He realized that Edmund planned to take over the earldom and that he was the evil son of the two. Gloucester's famous line: ?I stumbled when I saw? (Act IV, Sc I, Ln 20-21) was ironic. His inability to see the realities of his sons occurred when he had his physical sight but was mentally blind; but his ability to see the true nature of his sons occurred after having his eyes plucked out by the Duke of Cornwall. Fortunately, the consequences of Gloucester's blindness throughout the play was minimal, after all, he was the only one to die as a result of his tragic flaw. Albany was another character suffering from the classic case of blindness, but luckily for him, he survived his battle. Albany's case of blindness was purely a result of the love he had for Goneril. Although he disapproved of Goneril's actions, he would only mildly argue his case. When Goneril forced Lear to reduce his army so that he could stay in their castle, Albany protested: ? I cannot be so partial, Goneril, To the great love I bear You -? (Act I, Sc IV, Ln 309-310) Albany's deep devotion to Goneril blinded him from the evil she possessed. His inability to realize how greedy and mean Goneril was after she
Wednesday, March 18, 2020
The Equality of Women in Chaucers Wife of Bath essays The Equality of Women in Chaucers Wife of Bath There have been many different interpretations of what Geoffrey Chaucer stood for, but one of the most argued is that of the equality of women. As seen in several of Chaucers works, this is especially exhibited in the Canterbury Tales. Although some scholars debate that he was only writing down what he saw in his present society, others insist that he was very much an advocate for the equality of women. With his character the Wife of Bath, Chaucer is able to show how Renaissance women lived under the submission of men before and during marriage, where they stood after marriage, and how that they dreamed for the equality of women. The women that lived during the Renaissance Period were principally submissive under men. According to Margaret Hallissy, Whatever her estate, woman needs rules. She needs them because she is fallen, fallen through Eve, whose punishment was to be subordinate to her husband, as are all her daughters to their husbands in their turn, to the end of time (9).This statement shows the attitude toward women during the Renaissance time period. Women were to do what they were told and if they did not then the man could punish them just as God punishes man. The Wife of Bath talks about this happening in her fifth marriage when she tears out pages from her husband's book. She said that he struck her so hard on the side of the head that she lost the hearing in that ear (Chaucer, 213). Chaucer also displayed the subjugation of women even before this when the Wife of Bath was talking about her first marriage which took place at the age of twelve years old. She did not have a choice in the matter of marriage. She was married at the age of twelve because that was what she was told to do by her father. She left home and became a wife. The only equality that women had in this time was in sexuality within the marria...
Monday, March 2, 2020
How to Get Reviews Ã¢â¬â Without Cheating Writing a novel is hard work, but selling it can be even harder. A plethora of tremendous novels sit out there with meager sales and paltry reviews. Dont let yours get lost in the crowd. Follow these four tips to start garnering honest, real reviews thatll help your book stand out among the rest. Before we get started, lets discuss (cheating) paying for reviews. Please dont do this. Not just because its morally questionable, but also because youll be wasting your money. Sites like Amazon rely on their review system, and they abhor fake reviews. You dont want to be associated with such practices. With that out of the way, lets talk about how to nail real reviews. Step One: Ask For Them! This one might seem obvious, but chances are you already missed the opportunity. Did you include a call to action in your book? Most authors dont, and its a big mistake. Add an authors note to the end your book. In it, let the readers know how important reviews are, and that if they enjoyed your book, theres no better way to help out than to write a review. Youll be surprised how many reviews this garners. Step Two: Engage Readers Accept you must become an online social butterfly, whether you like it or not. Far too many writers ignore the art of social media, or they treat it as an advertising platform instead of an opportunity to communicate directly with their fans. No one wants to add a Twitter friend who incessantly plugs their own books. Dont be that type of author. Instead, learn to enjoy interacting with your fans via social media sites like Facebook and Twitter. Create these accounts, and add links to them in the authors note at the end of your novel. Readers are far more likely to post reviews of authors with whom they have direct contact. Step Three: Advertise a Sale This is where youll need to take out your wallet and spend some cash. If you want get an impressive number of reviews, then youre going to need to advertise. Pick a few days in the near future when youll put your book on sale, either for $0.99 or free, and then advertise the sale on some of the better ebook sites. Do not simply put your book on sale and sit back in the hopes that the world will take notice. Chances are, it wont. You need to light the fire Check out my article, Advertise Smarter (in next weeks issue of FundsforWriters), for tips on which sites I use to get the most bang for my buck. Step Four: Run a Contest Once you start getting some followers on social media, reward the ones who take the time to help you out. Run a contest offering to send a free, signed copy of your book to one lucky winner (in my early days, before I started printing books, I would offer signed covers. I would print covers of my book, cut them out, and sign them. Readers loved them!) All your fans have to do is write a review, and then send you an email letting you know. Stretch the contest out over a month to allow readers the chance to finish the book, and you might be pleasantly surprised how many people do it. Just dont think the contest will run itself. Market it like you would your book or your appearances! Follow these four steps and youll be well on your way to amassing an impressive number of honest reviews from readers. Good luck, and keep writing! (**see the follow-up piece to his one, Advertise Smarter, at this link)
Friday, February 14, 2020
Discussion board 5 - international law - Essay Example There is evidence, however, that the KP has done very little in solving the worldÃ¢â¬â¢s climate problems. Even though the treaty was negotiated in 1997, energy-related emissions had grown 24%, and that only limited financial resources had been provided by developing countries to assist them in reducing their emissions. Another criticism of the KP is based upon what Liverman (2008) calls Ã¢â¬Å"climate justiceÃ¢â¬ (n.p.). The emissions created by developing countries make up the bulk of the total number of emissions and are more vulnerable in these countries compared to the high emissions in the developed world, especially by the U.S. and by major multinational corporations. Critics of the KP have stated that it unfairly puts the burden on the west to financially rectify global warming, when developing countries are often more to blame. Therefore, the argument that the KP would have been more effective if the U.S. and China would have signed it is weak because even if they had r atified it, there is no evidence that global emissions would have been significantly reduced. Perhaps other protocols should be used, ones that do not penalize the west so heavily and that are more effective in what they seek to accomplish. 2. Laws of war Regardless of oneÃ¢â¬â¢s opinion regarding the Bush administrationÃ¢â¬â¢s compliance (or lack of compliance) with the international provisions governing the use of force with respect to retaliation, the use of certain weapons, the treatment of POWs and civilians, and the use of torture, any state that has signed agreements and treaties prohibiting them should adhere to them. If the United States or any other country that is a member of the UN that has signed these treaties violate them in any way, they should be held responsible. Of course, the controversy is if the Bush administration actually did that. Members of the U.S. government, especially in the Bush years, insist that they did not. That is beyond the purview of this as signment. It depends upon oneÃ¢â¬â¢s perspective and political viewpoints, and it depends on who you ask. The U.S. Supreme Court, in its 2006 Hamdan vs. Rumsfeld ruling, declared that military commissions for trying terrorist suspects violated both U.S. military law and the Geneva Convention (Brooks, 2006). The Bush administration held that Common Article 3 of the Geneva Convention did not apply to Al Qaeda combatants because its protections applied only to conflicts between states. They reasoned that since Al Qaeda was not a state, the Geneva Convention did not apply to them. The Supreme Court disagreed, which potentially made high-ranking Bush administration officials subject to prosecution under the federal War Crimes Act, something that did not materialize. 3. International Convention on the Prevention of the Sea by Oil This convention, also called OILPOL (http://www.internationallawhelp.com/convention_prevention_pollution_sea_oil.htm) and ratified in 1954, was the first of it s kind to prevent the pollution of the sea by oil by tankers. It prohibited the discharge of oil or oil mixture by tankers within prohibited zones. In 1969, amendments were made to OILPOL that created even more stringent requirements for operational discharges. This was done because the design of oil tankers had changed since 1954 to a Ã¢â¬Å"load-on-top systemÃ¢â¬ (Global instruments, n.d.) OILPOL was further amended in 1971 that imposed new standards on the construction of oil tankers. It was superseded by the 1973/78 MARPOL