Comment Text:
Yvonne lien international Asian net workers and any persons that are in” it “ CME Group Market Regulation Advisory Notice RA1311-5.In 2012, MCX has taken the third spot among the global commodity bourses in terms of the number of futures contracts traded. Based on the latest data from Futures Industry Association (FIA), during the period between January and June this year, about 127.8 million futures contracts were traded on MCX National Bulk Handling Corporation is India's leading integrated commodity and collateral management company based in Mumbai. NBHC is a venture of the Financial Technologies group.[2][3] Only Indian Warehousing and Commodity Management solution entity with a ISO 22000:2005 certification.[4] It handles more than 2.7 million tonne of agricultural commodities –– mainly rice, wheat, mustard and maize –– at around 3000-odd centres located in 19 states.[5] NBHC also work closely with govt organisation such as Food Corporation of India.[6]Dear Yvonne lien international Asian net workers and any persons that are in” it “ CME Group Market Regulation Advisory Notice RA1311-5.For-profit education (also known as the education services industry or proprietary education) refers to educational institutions operated by private, profit-seeking businesses.
There are three types of for-profit schools. One type is known as an educational management organization (EMO), and these are primary and secondary educational institutions. EMOs work with school districts or charter schools, using public funds to finance operations. The majority of for-profit schools in the K–12 sector in America function as EMOs, and have grown in number in the mid-2000s. The other major category of for-profit schools are post-secondary institutions which operate as businesses, receiving fees from each student they enroll. A third type of for-profit schools, which is less prevalent in the United States, are K–12 schools which operate as businesses.Unfortunately, the product Facebook and Google chrome has not performed well due to a “Bench trial” because State of California breaching social networking cause by a private investors firms Mark Jacobs announce Austin Martin there will not resume a case load against the state of California. people disappointed because Yelp and Facebook privacy laws policy introducing a form of concealing life credentials and social negligence without contact of concerns web designs does not work properly; the service was not performed correctly; my account was unlawfully place on a Joint administration in witch costing major collateral damages of interest to reduce the tiresome unreasonable “fast balling” services fee charges ; Asian Journal be advised something was not disclosed clearly or was misrepresented; etc. findings personal Jurisprudence of natural dysfunctions of concerns is what the question answer is and will be where in the USA is the troubling series fees be locations and web sites of office of options clearing corporations if none reply to this statement thereof will consolations though the OCC office of clearing corporations will be notice of concerns if on my terms Asian markets continue to fee base the people in an outcast like junk yard dog left in the dirt Derivatives are a contracts between two parties Proof of the burden is what will be given if my on my terms be advised I type this statement in regarding to people of great grievances Multi bankers of Asia if finical disadvantages continue of low properties incomes of clauses there will be constituted affairs disruptions of restrictions may be induced and not reduces “”get it”” or dose CSI security have it WSB associates city and county of San Francisco human health agency have the obligate the contractual parties to the terms of contrast over the life of the contract options of products .This gives for-profit colleges an incentive to see service members as nothing more than dollar signs in uniform, and to use aggressive marketing to draw them in and take out private loans...One of the most egregious reports of questionable marketing involved a college recruiter who visited a Marine barracks at Camp Lejeune, North Carolina. As the PBS program Frontline reported, the recruiter signed up Marines with serious brain injuries. The fact that some of them couldn’t remember what courses they were taking was immaterial, as long as they signed on the dotted line."The position of the American Association of Collegiate Registrars and Admissions Officers (AACRAO) is that national accrediting standards are not as rigorous and, though they might be well-suited for vocational and career education, they are ill-suited for academic institutions.[6][dead link] AACRAO alleges that this proposed rule is unnecessary and unjustified, could threaten the autonomy and potentially lower the standards of regionally accredited schools, and drive up their costs.[6] Furthermore, it states the proposed rule is an attempt by the for-profits' "well-funded lobbyists" to obscure the difference between for-profits' "lax academic criteria for accreditation" and non-profits' higher standards.[6] AACRAO claims only six percent of American students attend for-profits and only four percent attempt to transfer to non-profits.[6] Eduventures, Inc, a Boston research firm, states that nine percent of all U.S. college and graduate students attend for-profit institutions.[7]A CDS is linked to a "reference entity" or "reference obligor", usually a corporation or government. The reference entity is not a party to the contract. The buyer makes regular premium payments to the seller, the premium amounts constituting the "spread" charged by the seller to insure against a credit event. If the reference entity defaults, the protection seller pays the buyer the par value of the bond in exchange for physical delivery of the bond, although settlement may also be by cash or auction.[7][13]The open outcry NYMEX pit traders had always been against electronic trading because it threatened their income and their lifestyle. The executives at NYMEX felt that electronic trading was the only way to keep the exchange competitive. NYMEX teamed up with the Chicago Mercantile Exchange to use Globex in 2006. The trading pits emptied out as many traders quit. Banks, hedge funds, and huge oil companies stopped making telephone calls to the pits and started trading directly for themselves over screens
A default is often referred to as a "credit event" and includes such events as failure to pay, restructuring and bankruptcy, or even a drop in the borrower's credit rating.[7] CDS contracts on sovereign obligations also usually include as credit events repudiation, moratorium and acceleration.[6] Most CDSs are in the $10–$20 million range[14] with maturities between one and 10 years. Five years is the most typical maturity.[12]Board of Trade of City of Chicago v. Olsen, On February 10, 2010, CME announced its purchase of 90% of Dow Jones Indexes, including the Dow Jones Industrial Average.[5] Dow Jones Indexes subsequently became S&P Dow Jones Indices, in which CME has a 24.4% ownership interest.
CME Group also owns a minority stake in BM&F Bovespa, the São Paulo, Brazil based exchange operator.[6]
On October 17, 2012, CME announced it was acquiring the Kansas City Board of Trade for $126 Million in cash. KCBOT is the dominant venue for the sell of hard red winter wheat. The Chicago Board of Trade is the leading producer of soft red winter wheat
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R squared
Random walk
Rate of return
Rate of return regulation
Ratings
Rational expectations
Rationality
Rationing
Real balance effect
Real exchange rate
Real interest rate
Real options theory
Real terms
Recession
Reciprocity
Redlining
Reflation
Regional policy
Regression analysis
Regressive tax
Regulation
Regulatory arbitrage
Regulatory capture
Regulatory failure
Regulatory risk
Relative income hypothesis
Rent
Rent-seeking
Replacement cost
Replacement rate
Repo
Required return
Rescheduling
Reservation wage
Reserve currency
Reserve ratio
Reserve requirements
Reserves
Residual risk
Restrictive practice
Returns
Revealed preference
Ricardian equivalence
Ricardo, David
Risk
Risk averse
Risk management
Risk neutral
Risk premium
Risk seeking
Risk-free rate
R squared
An indicator of the reliability of a relationship identified by REGRESSION ANALYSIS. An R2 of 0.8 indicates that 80% of the change in one variable is explained by a change in the related variable.
Random walk
Impossible to predict the next step. EFFICIENT MARKET THEORY says that the PRICES of many financial ASSETS, such as SHARES, follow a random walk. In other words, there is no way of knowing whether the next change in the price will be up or down, or by how much it will rise or fall. The reason is that in an efficient market, all the INFORMATION that would allow an investor to predict the next price move is already reflected in the current price. This belief has led some economists to argue that investors cannot consistently outperform the market. But some economists argue that asset prices are predictable (they follow a non-random walk) and that markets are not efficient.
Rate of return
A way to measure economic success, albeit one that can be manipulated quite easily. It is calculated by expressing the economic gain (usually PROFIT) as a percentage of the CAPITAL used to produce it. Deciding what number to use for profit is rarely simple. Likewise, totalling up how much capital was used can be tricky, especially if it is expanded to include INTANGIBLE ASSETS and HUMAN CAPITAL. When FIRMS are evaluating a project to decide whether to go ahead with it, they estimate the project's expected rate of return and compare it with their COST OF CAPITAL. (See NET PRESENT VALUE and DISCOUNT RATE.)
Rate of return regulation
An approach to REGULATION often used for a PUBLIC UTILITY to stop it exploiting MONOPOLY power. A public utility is forbidden to earn above a certain RATE OF RETURN decided by the regulator. In practice, this often encourages the utility to be inefficient, slow to innovate and quick to spend money on such things as big offices and executive jets, to keep down its PROFIT and thus the rate of return. Contrast with PRICE REGULATION.
Ratings
A guide to the riskiness of a FINANCIAL INSTRUMENT provided by a ratings agency, such as Moody's, Standard and Poor's and Fitch IBCA. These measures of CREDIT quality are mostly offered on marketable GOVERNMENT and corporate DEBT. A triple-A or A++ rating represents a low risk of DEFAULT; a C or D rating an extreme risk of, or actual, default. Debt PRICES and YIELDS often (but not always) reflect these ratings. A triple-A BOND has a low yield. High-yielding bonds, also known as junk bonds, usually have a rating that suggests a high risk of default.
A series of financial market crises from the mid-1990s onwards led to growing debate about the reliability of ratings, and whether they were slow to give warning of impending trouble. After the Enron debacle, which again the ratings agencies had failed to predict, some critics argued that the big three agencies had formed a cosy oligopoly and that encouraging more competition was the way to improve ratings.
Rational expectations
How some economists believe that people think about the future. Nobody can predict the future perfectly; but rational expectations theory assumes that, over time, unexpected events (SHOCKS) will cancel out each other and that on average people's expectations about the future will be accurate. This is because they form their expectations on a rational basis, using all the INFORMATION available to them optimally, and learn from their mistakes. This is in contrast to other theories of how people look ahead, such as ADAPTIVE EXPECTATIONS, in which people base their predictions on past trends and changes in trends, and BEHAVIOURAL ECONOMICS, which assumes that expectations are somewhat irrational as a result of psychological biases.
The theory of rational expectations, for which Robert Lucas won the NOBEL PRIZE FOR ECONOMICS, initially became popular with monetarists because it seemed to prove that KEYNESIAN policies of DEMAND management would fail. With rational expectations, people learn to anticipate GOVERNMENT policy changes and act accordingly; since macroeconomic FINE TUNING requires that governments be able to fool people, this implies that it is usually futile. Subsequently, this conclusion has been challenged. However, rational and near-rational expectations have become part of the mainstream of economic thought.
Rationality
See ECONOMIC MAN.
Rationing
Although economists say that rationing is what the PRICE MECHANISM does, what most people think of as rationing is an alternative to letting PRICES determine how scarce economic resources, goods and SERVICES are distributed (see also QUEUEING). Non-price rationing is often used when the distribution decided by MARKET FORCES is perceived to be unfair. Rationing may lead to the creation of a black market, as people sell their rations to those willing to pay a high price (see BLACK ECONOMY).
Real balance effect
Falling INFLATION and INTEREST rates lead to higher spending (see WEALTH EFFECT).
Real exchange rate
An EXCHANGE RATE that has been adjusted to take account of any difference in the rate of INFLATION in the two countries whose currency is being exchanged.
Real interest rate
The INTEREST RATE less the rate of INFLATION.
Real options theory
A newish theory of how to take INVESTMENT decisions when the future is uncertain, which draws parallels between the real economy and the use and valuation of financial options. It is becoming increasingly fashionable at business schools and even in the boardroom.
Traditional investment theory says that when a firm evaluates a proposed project, it should calculate the project's NET PRESENT VALUE (NPV) and if it is positive, go ahead.
Real options theory assumes that FIRMS also have some choice in when to invest. In other words, the project is like an option: there is an opportunity, but not an obligation, to go ahead with it. As with financial options, the interesting question is when to exercise the option: certainly not when it is out of the money (the cost of investing exceeds the benefit). Financial options should not necessarily be exercised as soon as they are in the money (the benefit from exercising exceeds the cost). It may be better to wait until it is deep in the money (the benefit is far above the cost). Likewise, companies should not necessarily invest as soon as a project has a positive NPV. It may pay to wait.
Most firms' investment opportunities have embedded in them many managerial options. For instance, consider an oil company whose bosses think they have discovered an oil field, but they are uncertain about how much oil it contains and what the PRICE of oil will be once they start to pump. Option one: to buy or lease the land and explore? Option two: if they find oil, to start to pump? Whether to exercise these options will depend on the oil price and what it is likely to do in future. Because oil prices are highly volatile, it might not make sense to go ahead with production until the oil price is far above the price at which traditional investment theory would say that the NPV is positive and give the investment the green light.
Options on real ASSETS behave rather like financial options (a SHARE option, say). The similarities are such that they can, at least in theory, be valued according to the same methodology. In the case of the oil company, for instance, the cost of LAND corresponds to the down-payment on a call (right to buy) option, and the extra investment needed to start production to its strike price (the money that must be paid if the option is exercised). As with financial options, the longer the option lasts before it expires and the more volatile is the price of the underlying asset (in this case, oil) the more the option is worth. This is the theory. In practice, pricing financial options is often tricky, and valuing real options is harder still.
Real terms
A measure of the value of MONEY that removes the effect of INFLATION. Contrast with NOMINAL VALUE.
Recession
Broadly speaking, a period of slow or negative economic GROWTH, usually accompanied by rising UNEMPLOYMENT. Economists have two more precise definitions of a recession. The first, which can be hard to prove, is when an economy is growing at less than its long-term trend rate of growth and has spare CAPACITY. The second is two consecutive quarters of falling GDP.
Reciprocity
Doing as you are done by. A grants B certain privileges on the condition that B grants the same privileges to A. Most international economic agreements, for example, on trade, include binding reciprocity requirements.
Redlining
Not lending to people in certain poor or troubled neighbourhoods – drawn with a red line on a map – simply because they live there, regardless of their CREDIT-worthiness judged by other criteria.
Reflation
Policies to pump up DEMAND and thus boost the level of economic activity. Monetarists fear that such policies may simply result in higher INFLATION.
Regional policy
A policy intended to boost economic activity in a specific geographical area that is not an entire country and, typically, is in worse economic shape than nearby areas. It can include offering FIRMS incentives to provide jobs in the region, such as SOFT LOANS, grants, lower taxes, cheap LAND and buildings, subsidised LABOUR and worker training. Is it necessary? A region's problems should be somewhat self-correcting. After all, simple theories of SUPPLY and DEMAND would suggest that firms will move to areas of low WAGES and high UNEMPLOYMENT to take advantage of cheaper labour and surplus workers, or that workers will move away from such areas to where more and better-paid jobs exist. But some economic theories suggest that rather than moving to areas where wages are lowest, firms often cluster together with other successful businesses. Regional policy may need to be extremely generous to tempt firms to give up the advantages of being in a cluster.
Regression analysis
Number-crunching to discover the relationship between different economic variables. The findings of this statistical technique should always be taken with a pinch of salt. How big a pinch can vary considerably and is indicated by the degree of STATISTICAL SIGNIFICANCE and R SQUARED. The relationship between a dependent variable (GDP, say) and a set of explanatory variables (DEMAND, INTEREST rates, CAPITAL, UNEMPLOYMENT, and so on) is expressed as a regression equation.
Regressive tax
A tax that takes a smaller proportion of INCOME as the taxpayer’s income rises, for example, a fixed-rate vehicle tax that eats up a much larger slice of a poor person’s income than a rich person’s income. This goes against the principle of VERTICAL EQUITY, which many people think should be at the heart of any fair tax system.
Regulation
Rules governing the activities of private-sector enterprises. Regulation is often imposed by GOVERNMENT, either directly or through an appointed regulator. However, some industries and professions impose rules on their members through self-regulation.
Regulation is often introduced to tackle MARKET FAILURE. EXTERNALITIES such as pollution have inspired rules limiting factory emissions. Regulations on the selling of financial products to individuals have been introduced as protection against unscrupulous financial FIRMS with better INFORMATION than their customers. RATE OF RETURN REGULATION and PRICE REGULATION have been used to combat NATURAL MONOPOLY, sometimes instead of NATIONALISATION. Some regulation has been motivated by politics rather than ECONOMICS, for instance, restrictions on the number of hours people can work or the circumstances in which an employer can dismiss employees.
Even when introduced for sound economic reasons, regulation can generate more costs than benefits. Regulated firms or individuals may face substantial compliance costs. Firms may devote substantial resources to REGULATORY ARBITRAGE, which would leave consumers no better off. Regulation may lead to MORAL HAZARD if people believe that the government is keeping an eye on the behaviour of the regulated business and so do less monitoring of their own. Regulation may be badly designed and thus lock an industry into an inefficient EQUILIBRIUM. Rigid regulation may hold back INNOVATION. There is also the danger of REGULATORY CAPTURE. In short, then, REGULATORY FAILURE may be even worse for an economy than market failure.
Regulatory arbitrage
Exploiting loopholes in REGULATION, and perhaps making the regulation useless in the process. This is often done by international investors that use DERIVATIVES to find ways around a country’s financial regulations.
A RISK faced by private-sector FIRMS that regulatory changes will hurt their business. In competitive markets, regulatory risk is usually small. But in NATURAL MONOPOLY industries, such as electricity distribution, it may be huge. To ensure that regulatory risk does not deter private firms from offering their services, a GOVERNMENT wishing to change its regulations may have good reason to compensate private firms that suffer losses as a result of the change.
