Manipur implements Sixth Pay Commission: Arrears & Salary Hike Details

The latest news on Sixth Pay Commission is for the state of Manipur, whose state employees are going to benefit from the recommendations of the Sixth Pay Commission. Though it is a a bit late for new year, but this news comes and will be effective from the financial new year. The recommendations of the 6th Pay commission are accepted for Manipur state. These state employees, basicallay government employees will be getting the benefits of the Sixth pay Commission Panel Recommendations. Manipur Sixth Pay Commission

Since which date will the Sixth Pay Commission Recommendations be effective?
It is reported that the pay hike for Manipur will be effective from the month of April 2010 onwards. That will mean a big amount of money will be paid in arrears to the Manipur state employees. Also, as today the new budget has been presented in the parliament by Pranab Mukherjee, where he announced a lot of relief in tax rates for the various tax slabs. It will mean that implementation of Manipur Sixth Pay Commission will benefit employees as the payments will be made in the new financial year and hence the tax deducted will be less so their take home money will be more.

Will the arrears be paid in installments to the Bihar employees?
Though No explicit info is available about that, but looking at the arrears payment trend in other states which made similar announcement, that seems possible. Also, the news reported that the Sixth Pay commission payments will be made effective January 2006, that will mean a lot of money for government employees of Manipur.

General Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

How many employees are expected to benefit from this recommendation?
No info is available about the total no. of Manipur state employees.

Which employees will benefit?
All the state government employees of Bihar State will benefit from the pay hike or salary revision.

General Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Other benefits for the Sixth Pay commission Recommendations?
No more info is available about the amount of salary hike and other details, but it will be available soon. The chief minister O Ibobi Singh has appealed the Joint Administrative Council (JAC) of All Manipur Trade Unions’ Council (AMTUC) and the All Manipur Government Employees’ Organization (AMGEO) to withdraw their ongoing indefinite cease work agitation.
All thanks to the Sixth Pay commission recommendations and their implementations.

Equity Options: Accounting, Strategies & Options Operations

In this article, we will talk about the Equity Options Accounting, Equity Options Trading Strategies and , Equity Options Operations for Settlement and clearing. This article will give you a clear picture of what one should be aware of from such a course on equity options and how they should approach this topic of Equity Options. Equity Options

A Fundamental beginning on Options :

  - Puts and Calls :The two basic kinds of Plain Vanilla Options

  - Covered and Naked Options: The difference between the covered options (protected or risk managed Options) and Naken Options (unprotected or unmanaged)

  - Risk Profiles of various options traders and what positions should one take as per the risk profile

Valuation and Pricing of Options :
  - The concept of "In the Money Options" and "Out of the Money Options" depends on the udnerlying's price with respect to the option strike price

  - Time Value of Options, time Decay in options and why short sellers have an edge over the option buyers

  - The Greeks - concept and calculation of Greeks in Options - Where they come from , what is their significance - The delta, gamma, theta, rho, vega

Options Accounting and Reporting Mechanism:

  - Assets/Liabilities: The concept of Asset v/s liability in options

  - Cost Basis of options trading and positions

  - Statement Layout and formatting

Options Trading & Hedging Strategies: Options are way risky than the money involved in it. It is possible that you get into a position worth 100, but you might end up paying a million, so hedging and risk management is very important for option traders.

  - Covered Calls: The concept and how to configure a covered call

  - Collars

  - Spreads

Volatility Strategies for trading options: How to benefit from volatility trading in options trading. We have two popular combinations as follows

  - Straddles

  - Strangles

Sideway Strategies for trading options:

  - Butterfly

  - Condor

Operations and Settlement Processing:

  - Segregation of Underlying Shares for options trading

  - Exercise and Expiration for options

CDOs CDS Course & Introduction: Collateralized Debt Obligations & Credit Default Swaps

In this article, we will talk about the Collateralized Debt Obligations & Credit Default Swaps CDS CDO Course & Introduction and topics to be covered in the Collateralized Debt Obligations & Credit Default Swaps CDS CDO. The following topics will give a brief overview of Collateralized Debt Obligations & Credit Default Swaps CDS CDO.
Let's start with the basics for the Collateralized Debt Obligations & Credit Default Swaps CDS CDO: Collateralized Debt Obligations & Credit Default Swaps CDS CDO
Introduction to CDO or Collateralized Debt Obligations :

  - CDO how do they work - an example of CDO as a limited life bank
  - Working Economic Principles of CDOs
  - How CDO's evolve from asset backed securities

Structure of a CDO or Collateralized Debt Obligations :

  - CDO as SPV or Special Purpose Vehicle
  - CDO as Collateral manager
  - CDO as Collateral (asset) portfolio
  - CDO as Source of cash flows
  - Tranches while configuring the CDO
  - Life Cycle of a CDO

Arbitrage CDOs or Collateralized Debt Obligations: Here we cover the trading as well as arbitrage opportunities available within the CDO's.

  - How Arbitrage works for the CDO for Cash Flow Transactions
  - Fundamentals of CDO cash flow transactions
  - Cash flow waterfall mechanism
  - Market Value Transactions of the CDOs
  - Comparison with cash flow transactions

Balance Sheet CDOs or Collateralized Debt Obligations:

  - An Introduction to Balance Sheet CDOs
  - Common features to arbitrage CDOs
  - Institutional sponsors and their roles in the CDO market
  - Structure of Balance Sheet CDOs

Introduction to CDS or Credit Default Swaps :

  - Fundamentals of CDS or credit default swaps
  - The difference between interest rate IR swaps and the TR total return swaps
  - Allowing room for the the credit risk

Introduction to the Credit Swap Contracts :

  - Contract terms of Credit Swap Contracts - notional, tenor, reference credit(s)
  - Comparison between Single credit swaps and the basket default swaps
  - The mechanism of timely payments requirments by buyer of credit protection
  - Cash settlement vis-a-vis the Physical delivery
  - Black Swans or Extreme Events - bankruptcy, rating down grade, failure to pay, etc.
  - Nth to default baskets

Uses of Credit Swaps:

  - Buy Side: Minimizing credit exposure
  - Sell Side: Increasing exposure to markets/asset classes
  - Shorting underlying credit (seller not long underlying)

Synthetic CDOs: Beyond the plain vanilla CDO's:

  - Synthetic CDOs Introduction
  - Evolved from balance sheet CDOs in European market
  - Distinguishing characteristic - exposure to risky asset through CDS

Fundamentals of Synthetic CDOs:

  - Structure of synthetic CDOs
  - Low risk collateral assets (funded structure)
  - Credit default swaps
  - Reference assets
  - Comparison to cash CDOs
  - Funded versus unfunded CDOs

FTT Job Application

FTT is looking for young energetic content writers and web programmers who can become the part of the increasing FTT team and can help build upon the FTT portal. Multiple positions are available at various levels.

Before you submit the form, Please take note of the following IMPORTANT Points.

- All the fields are MANDATORY, so please dont miss out on anything

- MBA graduates can apply.

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- Final Year students (passing out in 2010) can also apply, but please select the field as Part Time Only.

- The positions available are both in the Technical stream (Engineering/BCA/MCA Graduates/Programmers) as well as the Non-Technical Graduates (BA/BCom/BSc/etc.)

- Technical stream desired skill sets will be web programming, web designing, Scripting language like Perl, JavaScript, HTML, etc. Training will be provided on selection

- Non Technical stream desired skill sets will be content creation and writing, web layout design, customer query resolutions, managing leads, etc. Training will be provided

- You can use the same form below for applying for the technical as well as non-technical positions. Depending upon your qualification, we will be shortlisting your profile for the appropriate role

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Operational Risk Management-2 Course & Introduction

Continuing further from our past article Operational Risk Management & Best Practices, In this article, we will continue with the 2nd part on the same and give a further elaborations about the Operational Risk Management & Best Practices Course & Introduction and topics to be covered in the Operational Risk Management & Best Practices. The key is measuring the right metrics on a timely basis and a policy of addressing the inevitable problems immediately, while keeping everyone in the loop. The financial controls and policies needed to manage any operation will be covered. Problems and challenges are inescapable but the principles covered in this course will allow you to manage problems to the most optimal outcome attainable. The following topics will give a brief overview of Operational Risk Management & Best Practices. Operational Risk Management
Let's continue further with the basics for the Operational Risk Management & Best Practices:

Step 1:Define and Identify the Operational Risks :

Step 2:Develope Measures of Operational Health :

  - The role of compliance and risk managers - What Should We Be Watching?

  - Define the process and stesp - Set up Standards for Good Operational Performance

  - A stitch in time saves nine - Developing a Strategy of Early Response to Problems

Step 3:The Importance of Independent Reporting Function to Assure Metrics Integrity :

Step 4:Risk Management: Should it come at the cost of cost cutting?: Controlling Risk in a World Focused on Controlling Costs - What To Do

Step 5:Automation and Straight through processing : The Role of STP in Enhancing Intraday Operational Risk Management

Step 6:The regulations and standards to be followed: : How Will Basel Capital Requirements Impact the Management of Operational Risk?

Step 7:Even the regulatory requirements are not fool proof: The Operational Risks Inherent in the Explosion of Regulatory Requirements

  - Patriot's Act, Sarbanes Oxley Act and Beyond

Step 8:Settlement Risks and Risk Management:

  - What Are We Living With Now?

  - When can we really Get to Virtual T+1?

  - Why Bother about this kind of Risk?

Step 9:Learning From Old Problems and the Mistakes of Others :

  - Managing Operational Risk With an Eye to History and Today's Newspapers

  - The Need for Truthful and Full, Honest Communications Within and Among Financial Institutions

Operational Risk Management & Best Practices Course & Introduction

In this article, we will give a brief outline about the Operational Risk Management & Best Practices Course & Introduction and topics to be covered in the Operational Risk Management & Best Practices. With the advent of new technology and its seamless integration into multiple products, opeartions and other work, Operational excellence is becoming a key area. It is very very important for a company or organization which is either involved in people, process or technology to maintain an excellence in practicing opeartions. The following topics will give a brief overview of Operational Risk Management & Best Practices. Operational Risk Management
Let's begin with the basics for the Operational Risk Management & Best Practices:

Introduction to Operational Risk Management in trading and investment scenario:

  - Using Derivatives Versus Trading the Underlying Asset/Security/Commodity

Drivers And Design of Operational Risk Management Steps:

  - Recognize the requirements for operational risk in your company/organization

  - Build upon an operational risk framework & Optimize its design

  - The key elements of an operational risk management framework

  - Planning the implementation or enhancement of an operational risk framework

  - Track the progress as it is recursive in nature

Training, Marketing And Culture Change for Operational Risk Management:

  - Need for an effective Operational Risk Management training program

  - Whether to launch a Operational Risk Management plan

  - Effects and requirements for culture change

  - Making and Winning over partners: Audit, SOX, Compliance etc.

Risk And Control in Operational Risk Management :

  - Advantages and Disadvantages of different styles of RCS

  - Plans for RCS implementation and its maintenance

  - Setting standards and procedures for RCS

  - Setting scope and content of RCS

Key Risk Indicators (KRIs) within Operational Risk Management:

  - Types of KRIs

  - How to collect the KRIs which are relevant to your organization's Operational Risk Management

  - Identify the root cause or Sources of KRIs

Importance of Reporting in Operational Risk Management:

  - The need of Answering the "So What?" questions

  - Effective loss data reporting

  - Effective RCSA reporting

  - Effective KRI reporting

  - Effective operational risk reporting

Selecting the right IT or Technology Tools :

  - Build or Buy Decision

  - The RFP process

  - What to ask in a demo

  - Assessing how a technology tool might fit your needs

Derivatives Products & Lifecycle Course & Introduction

In this article, we will give a brief outline about the Securities trading practices on the Derivatives Products & Lifecycle Course & Introduction and topics to be covered in the Derivatives Products & Lifecycle Trading activities. When it comes to derivatives, its easier said then done. All people end up doing is making bets in the name of derivatives. Derivatives Products & Lifecycle
Let's begin with the basics for the Derivatives Products & Lifecycle Course & Introduction:

Introduction to Derivatives Products & Lifecycle: Here, the course covers the following details about Derivatives.

  - Types of Derivatives and their classes and categorization

  - Characteristics of Derivatives Contracts and Derivatives Markets

  - Over-the-Counter (OTC) V/s Listed (Exchange Traded) - Derivatives Markets

  - Derivatives Market Participants and How Their Trading Impacts Derivatives Markets

Derivative Instruments Terms and the specific Characteristics of Derivatives :

  - Types of Derivative Contracts

  - Contract Features and Position Considerations


OTC and Exchange Trading of Derivatives:

  - Listed Trading

  - Over-the-Counter Trading of Swaps, Forward and Option Contracts

  - Post-trade Activities

Regulation of Derivative Markets: The regulatory requirements of Derivatives are much stringent than those of plain vaniall equity markets. Why? Just because the risk is much higher. What if you enter into any specific contract and then when the position goes against you, you run away.

Trends in Derivatives Markets:

  - Current Trend

  - Future Trend and how to analyse it

Securities Buyside Operational Practices Course & Introduction

In this article, we will give a brief outline about the Securities trading practices on the Buyside Operational Practices Course & Introduction and topics to be covered in the Trading activities of financial Securities for Buyside Operational Practices. With the financial world getting more and more automated, the best practices for Buy Side as well as the sell side business is getting interlined and complex. It is becoming increasingly important to understand the nitty-gritty and also focus on the best possible execution practice. Fraud, Scams, bankrupties and all the recent happenings have made it a requirement for the various market participants to be aware of the practices. Moreover, being an operational feature, it requires an effective management of people, process as well as technology. Integration of internal work and team along with the dependence on external service providers make it a lot more complex. Securities Buyside
Let's begin with the basics for the Securities Buyside Operational Practices Course & Introduction:


- Types of Buy-side investors: Here we introduce various market participants who act as the buy side parties - they may be large pension funds, insurance companies, etc.

  - Mutual funds

  - Hedge funds

  - Corporate treasury

  - High-net-worth investors

- Portfolio management for Buy Side Investors: This module covers the basic functions and preparations for the Buy side market particpants and parties.

  - Investment strategies

  - Portfolio management

  - Indication of Interest

  - Selection of the marketplace

  - Order placement

  - Limit or Market Orders

- Execution of Orders for Buy Side: These are the various steps in Order capture to processing to Management & finally order Execution:

  - Execution Management Systems

  - Recording the trade

  - Allocation

  - Affirmation of a Trade

  - Prime Broker

- Settlement Mechanism for the Buy side trading activities:

  - Role of the Custodian

  - Payment and receipt of cash and/or the security

  - Financing

  - Reconciliation

- Asset Servicing : The various requirements for taking care of special activities like CA processing, other trnasactions like Repo, lending and borrowing, etc.

  - Income collection

  - Corporate action event processing

  - Collateral management

  - Securities Borrow/Loan

  - Portfolio Valuation

  - Reporting

- Regulatory Requirements for the Buy side investors:

  - Industry regulators

  - Significant regulations

  - Compliance

Global Securities Trade, Settlement & Custody Course Introduction

In this article, we will give a brief outline of the Global Securities Trade, Settlement & Custody Course Introduction and topics to be covered in the Global Securities Trade, Settlement & Custody. Though this should appear to be a straightforward topic because it is more of a process management task, but it is important to keep in mind the scalability requirements and the regulatory changes which keep chaning every now and then. Securities Trade Settlement
Let's begin with the basics for the Global Securities Trade, Settlement & Custody Course Introduction:

The various Products, their features and Characteristics:

--Fixed Income

--Equity

--Derivatives

Participants in the Global Securities Trade, Settlement & Custody Market:

--Investors

--Sell-side

--Industry Service Organizations

Markets within which the Global Securities Trade, Settlement & Custody functions work:

--Regulated Exchanges

--Fixed Income markets

--Emerging Electronic Platforms


Order Processing/Execution of Global Securities Trade, Settlement & Custody Market:

--Order Receipt

--Validation and Routing

--Execution


Middle Office functions of Global Securities Trade, Settlement & Custody Market:

--Firm inventory

--Allocation

--Trade Entry

--Confirmation/Affirmation



Clearance and Settlement function of Global Securities Trade, Settlement & Custody Market:

--Trade Matching

--Clearance

--Settlement Environments

--Central Securities Depositories

Custody functions of Global Securities Trade, Settlement & Custody Market:

--Providers

--Custodial Network

--Services: Basic & Custom


Foreign Exchange requirements and roles in Global Securities Trade, Settlement & Custody Market:

--Trade through Settlement

Risks of process management in Global Securities Trade, Settlement & Custody Market:

--Types

--Impact

--Mitigation Alternatives


Trends in Global Securities Trade, Settlement & Custody Market:

--Cross border competition

--Global Regulations

--Central Counterparty

--Central versus International Securities Depositories

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