...the routines of our everyday lives. From the start of the day, people are waking up to music generated by cell phones, Ipods and televisions. Virtually every business in the world has a website address attached to its title. In every office from “A”ccounting to the local “Z”oo are using some sort of information system to make their services more efficient and effective, which saves time for individual workers per hour. In my business “R” for real estate, we use a information system called the Multiple Listing Services to support our business process. A real estate website called, real estate abc.com describes the multiple listing services as a big property warehouse. When properties are available for sale, they go into the warehouse. Once a property is sold, it is removed from the warehouse. We cannot actually put properties into a warehouse. A multiple listing service is a collection of private databases used by real estate brokers who agree to share their listing agreements with one another to locate ready, willing and able buyers for properties more quickly than they could on their own. The business process in my organization is to pre-qualify a person who wants to become a client and purchase a home. The procedure is to gather personal information and permission from the customer to submit their personal data to our preferred lender for credit verification. If the customer meets the minimum requirement to obtain a mortgage loan, we enter into an exclusive...
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...Unit 5 Analysis1: Pentium Flaw In June 1994, Intel discovered the floating-point unit flaw in the Pentium microprocessor. Professor Thomas Nicely, a professor of mathematics at the Lynchburg College, had written code to enumerate primes, twin primes, prime triplets, and prime quadruplets. Professor Thomas Nicely noticed some inconsistencies in the calculations on June 13th , 1994 shortly after adding a Pentium system to his group of computers, but was unable to eliminate other possible factors (such as programming errors, motherboard chipsets, etc.) until October 19, 1994. On October 24th, 1994 he reported the flaw he encountered to Intel. According to Professor Thomas Nicely, the person that he contacted at Intel later admitted to Intel being aware of the flaw since May 1994. The flaw was discovered by Intel during testing of the FPU for its new P6 core, which was first used in the Pentium Pro. Professor Thomas Nicely sent an email describing the flaw that he had discovered in the Pentium floating point unit (FPU) to various contacts, requesting reports of testing for the flaw on the 486-DX4s, Pentium and the Pentium clones. The flaw in the Pentium FPU (floating-point unit) was quickly verified by other people around the Internet, and became known as the Pentium FDIV bug (FDIV is the x86 assembly language instruction for floating point division). An example of the flaw was found where the division result returned by the Pentium microprocessor was off by about 61 parts per million...
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...Analyzing and Developing a Successful Real Estate Information System Plan Jon A. Snyder Park University Management/Computer Information Systems IS 315 Computer Sys Analysis & Design I Annette M. Story February 27, 2012 Abstract Since information systems become more and more important in our today’s society, business firms, organizations, and individuals rely on these systems to manage their daily business and social activities. Hence, it becomes more and more important not only to support the efficient development of such systems but the modification and adaption of once deployed information systems need to be supported, too. Since complex requirements and the technical progress of computer systems lead to a high complexity of computer systems, the use of software models helps to manage system’s complexity and provides a tool for communication and documentation purposes. In particular for web-based information systems, a number of model driven approaches were developed. However, I believe that compared to the user interface layer and the persistency layer, there could be a better support of consistent approaches providing a suitable architecture for the consistent model driven development of business logic from early analysis until system maintenance. Analyzing and Developing a Successful Real Estate Information System Plan System analysis and design consists of four major phases and they are the planning phase, the analysis phase, the design phase and...
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...evening, Jill looks through the lunch orders for the next day and sends purchase orders to suppliers for the food items requested in those lunch orders. A food item on the menu is supplied by one supplier. An employee pays for a lunch when it is delivered to the employee. The payment is recorded and a receipt is given to the employee. At the end of each month, a report that shows the total number of orders for each food item is produced and sent to JillLUNCHES Conceptual Data Model 3. 3. Develop a use case diagram for the following scenario. The Real Estate Multiple Listing Service system supplies information that local real estate agents use to help them sell houses to their customers. During the month, agent list houses for sale (listings) by contracting with homeowners. The agent works for a real estate office, which sends information on the listing to the multiple listing service. Therefore, any agent in the community can...
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...INITIAL PUBLIC OFFER Initial Public Offering (IPO) is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves way for listing and trading of the issuer’s securities. SPECAL 1.0 Book Building - About Book Building Book Building is basically a capital issuance process used in Initial Public Offer (IPO) which aids price and demand discovery. It is a process used for marketing a public offer of equity shares of a company. It is a mechanism where, during the period for which the book for the IPO is open, bids are collected from investors at various prices, which are above or equal to the floor price. The process aims at tapping both wholesale and retail investors. The offer/issue price is then determined after the bid closing date based on certain evaluation criteria. 1.1 The Process: • • • • • • • • The Issuer who is planning an IPO nominates a lead merchant banker as a 'book runner'. The Issuer specifies the number of securities to be issued and the price band for orders. The Issuer also appoints syndicate members with whom orders can be placed by the investors. Investors place their order with a syndicate member who inputs the orders into the 'electronic book'. This process is called 'bidding' and is similar to open auction. A Book should remain open for a minimum of 5 days. Bids cannot be entered less than the floor price. Bids can be revised by the bidder before...
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...Indian Depository Receipt means any instrument in the form of a depository receipt created by Domestic Depository in India against the underlying equity shares of issuing company. “Domestic Depository” means custodian of securities registered with SEBI and authorised by the issuing company to issue Indian Depository Receipts. Overseas Custodian Bank means a banking company which is established in a country outside India and has a place of business in India and acts as custodian for the equity shares of issuing company against which IDRs are proposed to be issued by having a custodial arrangement or agreement with the Domestic Depository or by establishing a place of business in India. Process involved in issue of India Depository Receipts (IDRs) The following flowchart describes the IDRs process : Issuing Company (company incorporated outside India delivers equity shares to Overseas Custodian) Overseas Custodian Bank (instructs Domestic Depository to issue depository receipts in respect of shares held) Domestic Depository (issues Depository Receipts to Indians against the equity shares of the company incorporated outside India) Indians (i.e. investors of IDR issue) Foreign shares being traded in Indian Exchanges in IDR form ADVANTAGES OF THE IDR Benefits to the Issuing Company • It provides access to a large pool of capital to the issuing capita. • It gives brand recognition in India to the issuing company. • It facilitates acquisitions in India. • Provides...
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...which is called as Stock Markets. This market enables participants who hold securities to adjust their holdings in response to their assessment of risk and return. They can also sell these securities as per their liquidity needs The securities market has three types of participants 1] issuer of securities 2] investors of securities 3] intermediaries. The issuer and investors are customers of the services rendered by the intermediaries. Those who receive funds in exchange of securities and those who receive securities in exchange of funds often need reassurance that it is safe to do so. This reassurance is provided by laws enforced by regulators. The four main legislations that govern the securities markets : 1. The SEBI Act 1992- which establishes SEBI to protect investors and...
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...The rationale for the establishment of SEBI and a brief detail about the SEBI Act-1992 It all started with the advent of the East India Company (EIC), which started its trading in India in late 18th century. During the tenure of British Raj in India EIC started the concept of shares in India and the system of the banks were introduced. Slowly in the pace of time trading of shares and securities started in the banks and the Town Hall of Mumbai became the epic center of it. With the increasing in trade in stocks the Company act of 1850 was introduced which focused on the limited liability concept which later became the insight for the modern joint stock for company in volume trading. The Civil war which broke out in America in 1861 hampered the trade in Europe and thus Great Depression came into effect. Cotton which was one of the most essential commodities was then exported from India to the various European countries. The demand of cotton trading resulted in the greater gain in margins and premium royalty. The effect of depression gave birth to the concept of the formal market. Many cloth mills factories and companies got sprung up in the region of Ahmedabad with the increasing demand of the cotton textile in Europe. This subsequently gave a push to the stock trading in India. The numbers of brokers in India increased and by 1874 Dalal Street came into existence, where stocks for the various companies were traded in Dalal Street. Dalal Street’s dawn resulted in the formation...
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...Sub Section‐ I Issues by Indian Companies in India This sub‐section attempts to cover the basic concepts and questions related to issuance of securities by unlisted Indian companies1 offering the shares to public and by listed Indian companies2. For full particulars of laws governing primary markets, please refer to the Acts/Regulations/Guidelines appearing in the Legal Framework Section . FAQs are presented under following 12 broad headings. 1. Different kinds of issues 2. Types of offer documents 3. Issue requirements 4. Pricing of the issue 5. Understanding book building 6. Investment in Public/Rights issues 7. Categories of Investors 8. Intermediaries involved in the issue process 9. Guide to understand an offer document 10. SEBI’s role in an issue 11. New terms 12. Additional information 1 2 “Unlisted Company” means a company which is not a listed company. “Listed Company” means a company which has any of its securities offered through an offer document listed on a recognized stock exchange and also includes Public sector Undertakings whose securities are listed on a recognized stock exchange. 1 1. Different kinds of issues What are the different kinds of issues which can be made by an Indian company in India? Primarily, issues made by an Indian company can be classified as Public, Rights, Bonus and ...
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...Preliminary 4 Chapter II Eligibility Norms for Companies Issuing Securities 9 Chapter III Pricing by Companies Issuing Securities 22 Chapter IV Promoters’ Contribution and Lock-In Requirements 26 Part I Promoters’ Contribution 26 Part II Lock-In Requirements 31 Part III Other Requirements in Respect of Lock-In 34 Chapter V Pre-Issue Obligations 36 Chapter VI Contents of Offer Document 48 Contents of the Prospectus 48 Section I 93 Section II Contents of Abridged Prospectus 102 Section III Contents of the Letter of Offer Section IV Contents Of the Abridged Letter Of Offer 109 Chapter VIA Issue of Indian Depository Receipts (IDRs) 111 General Requirements Part I 111 Part II Disclosures in a Prospectus for IDRs 112 Applicability of provisions of the SEBI (DIP) Guidelines, 2000 123 Part III Part IV Contents of Abridged Prospectus (See Rule 8(i) of the IDR Rules) 123 Chapter VII Post-Issue Obligations 130 Chapter VIII Other Issue Requirements 138 Chapter VIII-A Green Shoe Option 153 Chapter IX Guidelines on Advertisement 158 Chapter X Guidelines for Issue of Debt Instruments 164 Chapter XI Guidelines on Book Building 174 Chapter XI A Guidelines on Initial Public Offers through the Stock 196 Exchange On-Line System (e-IPO) Chapter XII Guidelines for Issue of Capital by Designated Financial 202 Institutions Chapter XII-A Shelf Prospectus 211 Chapter XIII Guidelines for Preferential Issues 212 Chapter XIII-A Guidelines for Qualified Institutions Placement 221 Chapter XIV Guidelines for OTCEI Issues...
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...Capital market is one of the most important segments of the Indian financial system. It is the market available to the companies for meeting their requirements of the long-term funds. It refers to all the facilities and the institutional arrangements for borrowing and lending funds. In other words, it is concerned with the raising of money capital for purposes of making long-term investments. The market consists of a number of individuals and institutions (including the Government) that canalise the supply and demand for long -term capital and claims on it. The demand for long term capital comes predominantly from private sector manufacturing industries, agriculture sector, trade and the Government agencies. While, the supply of funds for the capital market comes largely from individual and corporate savings, banks, insurance companies, specialised financing agencies and the surplus of Governments. The Indian capital market is broadly divided into the gilt-edged market and the industrial securities market. ▪ The gilt-edged market refers to the market for Government and semi-government securities, backed by the Reserve Bank of India (RBI). Government securities are tradeable debt instruments issued by the Government for meeting its financial requirements. The term gilt-edged means 'of the best quality'. This is because the Government securities do not suffer from risk of default and are highly liquid (as they can be easily sold in the market at their current price). The open...
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...profitability margins by all means in the changed economic scenario. Merchant Banking is known by different names in different places. In the USA, it is known as “Investment Banking”. In the UK it is known as “accepting and clearing houses”. Definitions of Merchant Banking 1) A Merchant Bank is a bank or financial institution that handles all the tasks related to incorporation of a company as well as marketing corporate and other securities. 2) Merchant Banking is an institution engaged in the business of issue management either by making arrangement regarding selling, buying or subscribing to securities or acting as manager, consultant, advisors or rending corporate advisory services in relation to issue management. 3) As per SEBI, Merchant Bank mostly provide advisory services, issue management, portfolio management and underwriting services, which require less capital but generate more income (non-interest income). 4) As per the Ministry of Finance; any person who is engaged in the business of issue management either by making arrangement regarding selling, buying or subscribing to the securities as manager, consultant, adviser or rendering corporate advisory service in relation to such issue management. Classification of Merchant Banks: (1) Public Sector Merchant Banks: • Commercial Banks (public) • National Financial Institutions • State Financial...
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...CORPORATE WORLD Clause 49 of Listing Agreement on Corporate Governance —Dilip Kumar Sen SEBI has revised Clause 49 of the Listing Agreement pertaining to corporate governance vide circular dated October 29, 2004, which supersedes all other earlier circulars issued by SEBI on this subject. The article highlights important changes in the corporate governance norms. C lause 49 of the Listing Agreement, which deals with Corporate Governance norms that a listed entity should follow, was first introduced in the financial year 2000-01 based on recommendations of Kumar Mangalam Birla committee. After these recommendations were in place for about two years, SEBI, in order to evaluate the adequacy of the existing practices and to further improve the existing practices set up a committee under the Chairmanship of Mr Narayana Murthy during 2002-03. The Murthy committee, after holding three meetings, had submitted the draft recommendations on corporate governance norms. After deliberations, SEBI accepted the recommendations in August 2003 and asked the Stock Exchanges to revise Clause 49 of the Listing recommendations and the same was put up on SEBI website on 15th December 2003 for public comments. It was only on 29th October 2004 that SEBI finally announced revised Clause 49, which will have to be implemented by the end of financial year 2004-05. These revised recommendations have also considerably diluted the original Murthy Committee recommendations. Areas where major changes...
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...CORPORATE WORLD Clause 49 of Listing Agreement on Corporate Governance —Dilip Kumar Sen SEBI has revised Clause 49 of the Listing Agreement pertaining to corporate governance vide circular dated October 29, 2004, which supersedes all other earlier circulars issued by SEBI on this subject. The article highlights important changes in the corporate governance norms. C lause 49 of the Listing Agreement, which deals with Corporate Governance norms that a listed entity should follow, was first introduced in the financial year 2000-01 based on recommendations of Kumar Mangalam Birla committee. After these recommendations were in place for about two years, SEBI, in order to evaluate the adequacy of the existing practices and to further improve the existing practices set up a committee under the Chairmanship of Mr Narayana Murthy during 2002-03. The Murthy committee, after holding three meetings, had submitted the draft recommendations on corporate governance norms. After deliberations, SEBI accepted the recommendations in August 2003 and asked the Stock Exchanges to revise Clause 49 of the Listing recommendations and the same was put up on SEBI website on 15th December 2003 for public comments. It was only on 29th October 2004 that SEBI finally announced revised Clause 49, which will have to be implemented by the end of financial year 2004-05. These revised recommendations have also considerably diluted the original Murthy Committee recommendations. Areas where major changes...
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...Chapter II History & Evolution of Stock Exchanges in India 2.1 Introduction: Before we study the historic volatile days of the ten years, let us first know what are : a) Stock Markets, b) Stock exchanges. a) Stock Markets: Stock Market is a market where the trading of company stock, both listed securities and unlisted takes place. It is different from stock exchange because it includes all the national stock exchanges of the country. For example, we use the term, "the stock market was up today" or "the stock market bubble." b) Stock Exchanges: Stock Exchanges are an organized marketplace, either corporation or mutual organization, where members of the organization gather to trade company stocks or other securities. The members may act either as agents for their customers, or as principals for their own accounts. Stock exchanges also facilitates for the issue and redemption of securities and other financial instruments including the payment of income and dividends. The record keeping is central but trade is linked to such physical place because modern markets are computerized. The trade on an exchange is only by members and stock broker do have a seat on the exchange. 2.2 History of Indian Stock Market: Indian stock market marks to be one of the oldest stock market in Asia. It dates back to the close of 18th century when the East India Company used to transact loan securities. In the 1830s, trading on corporate stocks and shares in Bank and Cotton...
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