Constituent Deals in the Indian Government Securities Market

2013 ◽  
Author(s):  
Golaka C. Nath ◽  
Sahana Rajaram
Keyword(s):  
Securities Market ◽  
Indian Government

Straight Through Processing (STP): Prospects and Challenges

2004 ◽  
Vol 29 (1) ◽  
pp. 93-100
Author(s):  
Mohan Natarajan ◽  
Arshad Khan ◽  
Girish Nadkarni ◽  
G Sethu
Keyword(s):  
Financial Services ◽  
Information Exchange ◽  
Value Added ◽  
Transaction Processing ◽  
Securities Market ◽  
Successful Implementation ◽  
Security Market ◽  
Indian Government ◽  
Market Participants ◽  
Securities Industry

The financial services industry is in the midst of transformation. Straight Through Processing (STP) is one of the major initiatives currently under way in developed securities markets. STP strives to reduce the trade transaction settlement cycle. STP is expected to reduce transaction processing risk and cost and may offer opportunities for value-added products and services to customers. Indian government has announced its intention to reduce the settlement cycles from (T+3) to (T+2) and eventually to (T+1) over the next few years. The Securities and Exchange Board of India (SEBI) has been asking the Indian securities industry to implement STP which is characterized by significant real time virtual processing with concurrent information exchange. Implementation of STP has many strategic angles. The players would see STP as a project investment and would be motivated only if there are gains commensurate with risks. All players are unlikely to benefit evenly. Some players are further along the learning curve than others. There are multiple messaging standards and software making interoperability a difficult issue to resolve to everyone's satisfaction. Successful implementation of STP would result in a quantum jump in the way security market transactions are processed in India. But, it is a challenging task. This colloquium was arranged to discuss the main issues as seen by the market participants in the securities industry in India. The panel members addressed the following issues: What is STP? What kinds of benefits from STP have been realized in the global markets? What are the challenges of implementing STP in the Indian securities market? The salient features of the responses are as follows: At present, different entities in the security transaction processing work use different systems. There is no synchronization of data. In developed markets, much progress has been made in eliminating this roadblock. In India, we should address this issue quickly to realize the benefits of STP. STP implementation in each entity has two elements - streamlining external processes (external STP) as well as internal processes (internal STP). Benefits of STP arise from operational efficiencies, productivity gains, and also from improved customer satisfaction. The biggest challenge for STP is to ‘determine the best approach.’ This dilemma is further complicated due to the two elements of STP strategy: internal STP and external STP.

Institutional Investors on the Securities Market

2003 ◽  
pp. 95-101
Author(s):  
O. Khmyz
Keyword(s):  
Financial Crisis ◽  
Capital Market ◽  
Hedge Funds ◽  
Institutional Investors ◽  
Securities Market ◽  
Main Role ◽  
Investment Funds ◽  
Investment Process ◽  
The Capital Market

Acording to the author's opinion, institutional investors (from many participants of the capital market) play the main role, especially investment funds. They supply to small-sized investors special investment services, which allow them to participate in the investment process. However excessive institutialization and increasing number of hedge-funds may lead to financial crisis.

Trends in the Insurance-Linked Securities Market

CFA Digest ◽  
2001 ◽  
Vol 31 (2) ◽  
pp. 89-90
Author(s):  
Charles F. Peake
Keyword(s):  
Securities Market

Evolution of the Russian securities market

2018 ◽  
Vol 24 (4) ◽  
pp. 968-982
Author(s):  
Z.A. Arsakhanova ◽  
◽  
D.A. Kurazova ◽  
Keyword(s):  
Securities Market

Riot After Riot

1988 ◽  
Vol 5 (2) ◽  
pp. 285-287
Author(s):  
Akbar S. Ahmed
Keyword(s):  
Uttar Pradesh ◽  
Early Morning ◽  
Executive Branch ◽  
Modern World ◽  
Law And Order ◽  
Indian Government ◽  
Communal Violence ◽  
Legislative Branch ◽  
Midnight's Children ◽  
English Speaking

One of the great paradoxes of the modern world is that India, the land that produced such major world religions as Buddhism Jainism is now torn apart by caste and communal violence. Pakistan and Sri Lanka, like India, face severe ethnic problems. Law and order are to be emphasized. Caste and community must be protected by the executive branch of the Indian Government. This bas been laid down in the rules framed by the legislative branch. When this is not done there is a breakdown. No one is safe and no group is secure. In India today this is clearly the case. This book by M. J. Akbar is a collection of 15 journalistic pieces, written for Akbar's newspaper and magazine, The Telegraph and Sunday over the last decade. Because it is journalism, the important "burning" issues are covered such as the Moradabad massacre in 1980, the slaughter of the Uttar Pradesh Harijans in 1981 and the ongoing Babri Masjid controversey. It is journalism, but the writing is of high quality and evocative: "It is early morning and a mist lies on the river, making the pre-dawn haze more blurred. A part of the Howrah Bridge looms through the gauze, like a picture deliberately created by a photographer in search of art. The fires are out." (p. 170) Akbar's material is hard, brittle, compelling stuff. He writes with the passion of the committed and his commitments are to secularism, to humanity, to the truth, as he sees it, on the ground. Here, a brief account of Dr. Akbar's cultural background seems appropriate: He was born in 1951 and has become the English-speaking voice of post-Midnight's Children of India. The significance of post 1947 independence as a dividing line is generally not fully appreciated. Missing is the literary, sentimental romanticism of the earlier Indian generation of writers. Don Moraes and Ved Mehta already appear as dated figures of the past. Their India is another country. In Akbar's background there is no punting on English rivers, laboring at Oxford intonations, getting drunk after the Oxford-Cambridge boat race nor leisurely reading of the English romantic poets on the banks of the Cam. Akbar lives in the urban nightmare of Calcutta and in his nostrils is the smell of burning flesh and rotting corpses. Missing, though he is aware of the loss, is the romantic vision of Nehru and the religious idealism of Gandhi. Akbar is an Indian writing with a white-hot pen for Indians of today's India ...

FUNCTIONING OF THE EXCHANGE MARKET UNDER THE INFLUENCE OF THE DIGITALIZATION OF THE ECONOMY

2020 ◽  
Vol 2 (11) ◽  
pp. 96-101
Author(s):  
B. А. DEMILKHANOVA ◽  
Keyword(s):  
Stock Market ◽  
Financial Stability ◽  
Technological Development ◽  
Digital Technologies ◽  
Securities Market ◽  
Exchange Market ◽  
Large Circle ◽  
Secondary Markets ◽  
Leading Role ◽  
International Stock Markets

In the article, from the standpoint of reasons and necessity, the qualitative and quantitative characteristics of the key trends in the development of the stock market in Russia are disclosed. The leading role is assigned to the processes of computerization of the exchange market: the introduction and use of digital technologies that ensure the financial stability of the financial market as a whole, its security and transparency, as well as access of a large circle of investors to banking and financial operations, and the protection of their interests. It has been established that the processes of introducing and using digital technologies, organically built into the mechanism of the functioning of the securities market as a whole, determine the directions of development of such trends as innovations, diversification of stock market instruments, securitization, integration with international stock markets, etc. key trends influenced by the technological development of the stock market, lead to blurring the boundaries between the primary and secondary markets.

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