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underlying asset. In this sense, its return is derived from another instrument.
The definition states, a derivative's performance is based on the performance of an underlying asset. This underlying
asset is often referred to simply as the underlying. It trades in a market in which buyers and sellers meet and decide
on a price; the seller then delivers the asset to the buyer and receives payment. The price for immediate purchase of
A derivative also has a defined and limited life: A derivative contract initiates on a certain date and terminates on a
later date. Often the derivative's payoff is determined and/or made on the expiration date, although that is not always
the case. In accordance with the usual rules of law, a derivative contract is an agreement between two parties in
which each does something for the other. In other words, no money need change hands up front.
Types of Derivatives
42
•
traded in this way. The OTC derivatives market is huge. According to the Bank for International Settlements, the
traded via specialized Derivatives exchanges or other exchanges. A derivatives exchange acts as an intermediary to
all related transactions, and takes Initial margin from both sides of the trade to act as a guarantee.
There are 3 kinds of Derivative contracts:
•
Futures Contract
•
Forward Contract
•
Options Contract
SERVICES
43
KSBL (KARVY STOCKBROKING LIMITED), offer services that are beyond just a medium for buying and selling
stocks and shares. Instead KSBL provide services which are multi dimensional and multi-focused in their scope.
There are several advantages in utilizing Karvy’s Stock Broking services, which are the reasons why it is one of the
Its highly skilled research team, comprising of technical analysts as well as fundamental specialists, secure result-
oriented information on market trends, market analysis and market predictions. Crucial information regarding
customer individual account balances are given as a constant feedback to them, through daily reports delivered
thrice in a day.
The Pre-session Report, where market scenario for the day is
predicted.
The Mid-session Report, timed to arrive during lunch break, where
the market forecast for the rest of the day is given.
The Post-session Report, the final report for the day, where the
market and the report itself is reviewed.
In addition, the specific industry reports prepared by Karvy Stockbroking Limited give comprehensive information
on various industries. They also offer special portfolio analysis packages that provide daily technical advice on
scrips for successful portfolio management and provide customized advisory services to help investors make the
These services have increasingly offered customer oriented convenience, which KSBL provides to a spectrum of
investors, high-networth or otherwise, with equal dedication and competence. But this is not the final destination and
in the Electronic custody business has helped build on its tradition of trust even more. Consequentially its retail
To empower the investor further KSBL have made serious efforts to ensure that their research calls are disseminated
systematically to all its stock broking clients through various delivery channels like: e-mails, chat, SMS, phone calls
etc.
Their foray into commodities broking has been path breaking and KSBL is in the process of converting existing
traders in commodities into the more organized mainstream of trading in commodity futures, both as a trading and
risk
hedging
mechanism.
In the future, its focus will be on the emerging businesses and to meet this objective, KSBL has enhanced its
manpower and revitalized its knowledge base with enhanced focus on Futures and Options as well as the
commodities business.
(Karvy.com)
45
DIPOSITORY PARTICIPANTS
The onset of the technology revolution in financial services Industry saw the
emergence of Karvy as an electronic custodian registered withNational
Securities Depository Ltd (NSDL) and Central Securities Depository
Ltd (CSDL) in 1998. Karvy has further set standards enabling comfort to the
investor by promoting paperless trading across the country and emerged as the Top 3 Depository Participants in the
KSBL has established live DPMs (Depository Participant Modules), Internet access to accounts and an easier
transaction process in order to offer more convenience to individual and corporate investors. A team of professional
and the latest technological expertise allocated exclusively to the demat division including technological
enhancements like SPEED-e, makes the response time quick and delivery impeccable. A wide national network
offerings, Karvy occupies all segments in the retail financial services industry.
The team of 1600 highly qualified and dedicated professionals, drawn from the best academic and professional
backgrounds is committed to maintaining high levels of client service delivery. This has propelled this wing to grab
a position among the top distributors for equity and debt issues with an estimated market share of 15% in terms of
applications mobilized, besides being established as the leading procurer in all public issues.
To further tap the immense growth potential in the capital markets it has enhanced the scope of its retail brand,
Karvy – the Finapolis, thereby providing planning and advisory services to the mass affluent. Here they understand
the customer needs and lifestyle in the context of present earnings and provide adequate advisory services that will
necessarily help in creating wealth. Judicious planning that is customized to meet the future needs of the customer
deliver a service that is exemplary. The market-savvy and the ignorant investors, both find this service very
satisfactory.
(Karvy.com)
47
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