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Table Of Contents

Role of an Economic System
Economic Decisions
Command Economies
Market Economies
Barter
Example of Barter
Money and Prices
Categories of Economic Units
Government Sector
Government Sector (Cont«)
Business Sector
Business Sector (Cont«)
Household Sector
Income and Expenditure
Function of a Financial System
Economy¶s Relationship with ROW
Balance of Payments
Current Account Balance
Financial Assets
Financial Assets (Cont«)
Financial Claims
Why de we require financial assets?
Liability
Asset Classes
Money
Liquidity
Illustration of Perishability
Equity Claims
Dividends
Retained earnings
Debt Claims
Long term debt securities
Negotiable vs. Non-negotiable
Leverage
Pre-Tax versus Post-Tax Payments
Example of a Tax Shield
Derivatives
Swaps
Diagrammatic Representation
Borrower
Bank B
Cross Currency Swaps
Cont«
Foreign Exchange
FOREX (Cont«)
Mortgage
Hybrid Securities
An investor¶s concerns
Returns
Returns (Cont«)
Risk
Time pattern
A rational investor
Types of Rational Investors
Classification of Markets
Are Primary Markets Alone Sufficient?
Sufficiency? (Cont«)
In real life«
In real life
Direct versus Indirect Markets
Direct & Indirect Markets (Cont«)
Intermediaries
Why do we need intermediaries?
Price Compatibility
Quantity Compatibility
Market Intermediaries
Brokers
Underwriting
Underwriting (Cont«)
Best Efforts
Underwritten Issue or Best Efforts?
Devolvement
The Glass-Steagall Act
Indirect Markets
Indirect Markets -Risks
In. Market Intermediaries
Indirect Markets (Cont«)
Benefits of Direct Markets
Illustration (Cont«)
Disadvantages of Direct Markets
Role of Intermediaries in Indirect Mkts
Illustration
Money Mkts. vs. Capital Mkts
Money & Capital Markets
Money & Capital Markets (Cont«)
Secondary Markets
Stock Exchanges
Listing vs. Registration
Listing and Registration
Listing
Multiple Listings
Multiple Listings (cont«)
The Third Market
The Fourth Market
The Fourth Market (cont«)
International Stock Exchanges
International Exchanges
Bond Markets
Actors or Players
Long Positions
Short Positions
Short Positions (cont«)
Buy Side & Sell Side
Examples -The Sell Side
Definitions (Cont«)
Depositories
Custodians
Custodians (Cont«)
Depositories & Custodians
Arbitrage
Arbitrage & Market Imperfections
Imperfections (cont«)
The Eurocurrency Market
Eurocurrency Markets
Why Eurocurrency Markets?
Eurocurrency Markets (Cont«)
Interest Rate Ceiling
Reserve
Reserves
CRR
Example -Reserves
Lack of Regulations
Petrodollars
Petrodollars (Cont«)
Floating Rate Loans
Basis Point
Example
Contd
International Bond Market
Eurobonds
Eurobonds -Illustration
Foreign bonds -Illustration
Growth in Eurobond Markets
Growth -Eurobonds
Euronotes
Globalization of Equity Markets
Major Regulatory Changes
Dual / Multiple Listing
GDRs and ADRs
What is an ADR?
An ADR issue process
ADRs (cont«)
Fungibility
Arbitrage (Cont«)
ADRs -History
ADRs (Cont«)
Levels of ADRs
Benefits to Issuers
Benefits to Holders
Why Globalization?
IBFs -Advantages
IBFs -History
Tech Advances
Sophistication of Investors & Borrowers
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MFI-01

MFI-01

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Published by: chagzgupta on Feb 16, 2012
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02/19/2012

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