Economy

BSE (Bombay Stock Exchange) – Online Trading System Financial Planning

Gone are the days when you needed a broker to help you buy and sell stocks, shares and make stock market investments. Through online investment you can buy and sell shares with just a few clicks of the mouse. The economic and capital market in India cannot exist without a stock exchange; there are two main stock exchanges where transactions take place; the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). While all the major transactions take place here, there are over 20 different stock exchanges located across the country.

Online trading in India has changed the meaning of trading in the country. With no requirement for a broker, trading has become easier, faster and far more convenient than earlier days. Some of the major financial products and services offered through online trading are mutual funds, equities, general insurance, life insurance, share trading, portfolio management, commodities trading and financial planning. In online trading, the investor has to pay less brokerage as compare to offline trading. There is no need for any paperwork through online investing and the need for a middle man is eliminated. All the stock accounts are stored in a Demat account where they can be viewed.

BSE online trading was established in 1995 and is the first exchange to be set up in Asia. It has the largest number of listed companies in the world and currently has 4937 companies listed on the Exchange with over 7,700 traded instruments.

The only thing that an investor requires for online trading through BSE is an online trading account. The trading can then be done within the trading hours from any location in the world. In fact, BSE has replaced the open cry system with automated trading. Open cry system is a common method of communication between the investors at a stock exchange where they shout and use hand gestures to communicate and transfer information about buy and sell orders. It usually takes place on the ‘pit’ area of the trading floor and involves a lot of face to face interaction. However, with the use of electronic trading systems trading is easier, faster and cheaper; and is less prone to manipulation by market makers and brokers/dealers.

The BSE provides an efficient and transparent market for trading in debt instruments, equity and derivatives. This is performed through a system known as BOLT – BSE’s Online Trading System.

In the stock exchange, a key index is used to keep track of the important or the most traded stocks in the exchange. The indice used at the BSE while trading is the SENSEX and is displayed in all major portals, newspapers and magazines. It is India’s first stock market index that enjoys an iconic stature and is tracked worldwide. It is conducted on a free-float methodology and is sensitive to market sentiments and realities.

There are also indices such as BSE small cap, BSE mid cap and BSE500 to take care of medium and small companies. Furthermore, India index services and Products Limited has indices such as CNX Nifty Junior, S&P CNX Nifty, CNX 100, S&P CNX 500 and CNX Mid cap. The BSE offers 22 indices to suit a multiplicity of needs, inclusive of 12 sectorial indices. For example, the BSE PSU Index tracks the performance of the listed PSY companies and also helps the Central Government to monitor its wealth on the bourses.

The BSE has become a completely ‘corporatised and demutualized stock exchange’ through the use of online exchanges. With partners such as Deutsche Borse (DB) and Singapore Stock Exchange (SGX) it has a global competitive force. BSE has strategic relationships in almost every part of the world- Europe (DB)), Hong Kong (ETF) and Asia (SGX), prominent public sector undertakings such as State Bank of India, Bank of India, Life Insurance Corporation of India and Central Bank of India.

Benefits of BSE trading system in India for share brokers or newbies

There are a number of attractive services to empower investors and facilitate smooth transactions. Some of these include:

1) Investor Services: A range of services are offered to investors. Being the first exchange in the country to provide an amount of INR 1 million towards the investor protection fund, the BSE had launched a nationwide investor awareness program; ‘Safe Investing in the Stock Market’ under which there were 264 programmes which were conducted in over 359 cities in India.

2) BSE has an Online trading BOLT system: the online-Trading system (BOLT) facilitates on-line screen based trading in securities. Currently it operates 25,000 Trader Workstations which are located across 359 cities in the country.

3) The BSE has the world’s first centralized exchange-based Internet trading system – BSEWEBX.com. This system helps the investors anywhere in the world to trade on the BSE platform.

4) The BSE has an online Surveillance system (BOSS) which monitors on a REAL-TIME basis the price movements, the volume positions and members’ positions as well as real time measurement of default risk, generation of cross market alerts and market reconstruction.

5) The BSE has a training institute – known as the Bombay Stock Exchange Training Institute (popularly known as the acronym BTI).The BTI imparts capital market training and certification; in collaboration with a number of reputed management institutes and universities. There are over 40 courses to choose from on different aspects of the capital market and the financial Bombay Stock Exchange market.

financial planning

Personal Budget – 7 Guidelines That Will Help You Plan a Working Budget Financial Planning

Setting up your personal budget requires a hands-on approach. The following guidelines will help you plan a working budget to undertake this journey.

1. Gather all your financial details. That will include all of your bank accounts, credit cards and insurances papers – anything to do with your personal finances. These details will be needed to start your budget.

2. List all sources of income. This includes salary, rental income and regular dividends and interest.

3. Categorise your expenses starting with your commitments – list each item under headings such as:

  • Home: mortgage or rent.
  • Association and professional fees.
  • Insurance: health, motor vehicle, home, contents and life
  • Education costs
  • Day care and child care
  • Loans: car loan, student loan, bank fees and interest
  • Land tax or rates.
  • Other payments required as a commitment: motor vehicle licensing.
  • Investment – yes commit to your future and pay yourself!

4. List necessities – again list each item under headings:

  • Food, groceries, gas (petrol), home maintenance, security.
  • Utilities: gas, water, electricity, rubbish disposal, phone costs
  • School lunches, household supplies, car maintenance, internet service, dry cleaning, monthly parking.

5. Other expenses. Personal everyday expenses covering: lunch at work, snacks, coffee, drinks, newspapers, magazines, batteries, postage. Family and personal allowances: parties, entertainment, weekend outings, movies, concerts, other entertainment and events, home improvements and decorating, magazine and other subscriptions, dining out and fast food. Also include: clothing, hobbies, personal recreation, books, CD’s, manicures, hair care, alterations, shoe repair, personal and family gifts, gardening, film processing, video rentals, sports and gym, donations, computer software and other related items.

6. Once you have all your expenses listed add the total expenses and deduct these from your income. You will need to convert everything to monthly or weekly. This means that bills that are paid once a year must be divided by 12 to get the monthly figure. Convert quarterly payments to an annual figure then convert this to monthly. It is important that you include bills that are paid other than monthly to ensure that the money is available when the bill is due. Place the money in an interest bearing account.

7. Do you need to tweak your budget? When you deducted the expenses from your income was there any money left or did you find your expenses were more than your income? If your situation is the latter you will need to do some tweaking. The commitments cannot change. As for necessities you may be able to cut down on food expenses and find cheaper providers of utilities or try to save costs by being conscious of switching off lights etc. But it is the other expenses category that has the most capacity for tweaking as many of them are not needed and can be reduced or cut out. Review your budget regularly to make sure it is still working for you.

The time to start a personal budget is now and these guidelines are designed to make sure that your budget is truly a working budget — one that works for you!

financial planning

HIPAA Data Security – Doesn’t Have to Mean High Cost For Small Medical Practices Money

The American healthcare system is moving forward. Thanks to the HITECH Act of 2009, physicians and hospitals are encouraged with $19 billion dollars in spending to convert their old paper charts to new Electronic Health Records (EHR). Medical records and physician charts are essential for the smooth operation and delivery of optimal and continuous healthcare. These records must be available to the doctor or nurse at all times and should be easy to access when needed.

The thought of spending time and money to overhaul a fully-immersed and often entirely adequate paper system can be overwhelming to small medical practices. Smaller practices do not usually have the technological resources to keep up with new standards of protected health information (PHI) storage and delivery. However, it is possible for even small, rural community clinics to join the EHR system without needing to hire a full IT team.

Solo physician clinics and small medical practices may wonder why they need to change their system if they like it, it’s familiar, and – most importantly – it works. Paper charts with patient information offer little to no security or backup in case of physical damage. Insurance may cover the building and most of its’ contents in a fire or flood, but patient charts will be wiped clean and started anew. Perhaps one of the biggest benefits of moving to an EHR system is the ability to save, maintain, update, and backup important patient personal health data.

Contrary to popular belief, HITECH compliance does not always require a large capital surplus to ensure your patient’s private data is backed-up and protected. Small medical practices can get away with spending a few thousand dollars to implement technology from a company that offers sizable, on-demand service.

Technological options for healthcare organizations have come a long way from the complex server or appliance based solutions. Several years ago, these were the only options and could cost upwards of $50,000. Even with that cost, these solutions were far from comprehensive and only provided part of the encryption protection required by HIPAA. “Cloud computing” has revolutionized the way we think about spending IT dollars and is quickly replacing former costly solutions.

“Cloud computing” is a term that refers to applications that can be leveraged over the internet. This type of solution eliminates the need for costly and confusing software packages or excessive servers requiring IT maintenance. Typically, the physician or practice will pay a per-user fee for access to a system that is maintained by a third party. This enables the application to be fully customized to fit a big metropolitan hospital or small rural community clinic.

money changer

Pros and Cons of an Internal Medicine Specialist Money

A doctor of internal medicine, also called an internist, specializes in diagnosing and treating adults. You can expect a physician of this type to be well-versed in many conditions that may plague patients during adulthood, as opposed to someone who treats children or patients of all ages. If you have the option to see this type of doctor, you should learn the pros and cons of doing so, compared to other doctors.

The main reason to see a doctor of internal medicine is that he or she focuses only on diseases that may appear in adults. For this reason, many physicians in this specialty know more about each condition than a general practitioner might, since the latter is not a specialist in the area. Therefore, even if you choose a general practitioner, you may be sent to an internist anyway when he or she cannot properly diagnose the issue. If you suspect the problem you have is rare or complicated, or your current physician seems to have never heard of it, you should likely see a doctor of internal medicine.

Of course, you should check with your insurance provider before you make this decision. Some providers require people to get a referral from their current practitioner before seeing a specialist. In addition, copays may be higher when you see a practitioner who specializes in any field. For this reason, if your insurance is restrictive or you are looking to save money on your copays, you might choose a general practitioner first. You can then switch to an internist if you need to in the future.

In addition, when you choose an internal medicine specialist, you cannot have your whole family go to the same practice. Many people like to go to a family practice so their children, spouse, and other loved ones of any age can all see the same physician. Clearly, an internist cannot provide this advantage unless your children are already adults. Therefore, if you seek the convenience of all seeing the same doctor, you should go to a family-oriented office first, and then switch to a specialist if you need to.

Knowing these facts may help you decide whether to go to an office of internal medicine or stick with someone who can treat your whole family at any age. You will need to weigh the pros and cons, considering both your health and insurance coverage while you are at it. Of course, you can always change your mind when necessary after you make your choice.

money changer

How To Make Money Online Assessment – Discover This Strategy On How You Can Make Money Online Money

More people are searching for new ways to make money online. The reason for this is because people are interested in escaping their jobs, joining the wealth club, and living anywhere. They are tired of being short handed by their current employers and want to become their own boss.

The revolutionary way to make money online and build true wealth for yourself is by joining the right home business opportunity. By making money from home with the right home business, you can put yourself in position to sit back and collect checks for life. Below is some detailed information on how to make money online.

Let Me Go Further Into Detail On How This Works

Most people trade their time for money. If they do not work, they don’t get paid. Now some home business opportunities offer the chance to make money off of the essential services people use everyday. Those essential services are cell phone services, home phone services, energy services, home security services, and business services.

You Usually Get A Website

You normally have a website that is strictly for you. This website will be where are your customers will go to buy the services that they need. As soon as they buy their services on your website,you get a portion on their bills every month for as long as they remain your customer.

You Can Get Business Partners

Most home business opportunities do not put a limit on the amount of customers you can have, which makes your income limitless. However, not all home business opportunities are created equal. Some are scams. It is recommended to consult with an expert who has been in the arena before.

In addition, many home businesses allow you to go one step further. They allow you to introduce other people into the company as your business partners, and in return, you can earn income on their customers as well, which is called overriding residual income.

Is It Possible For You To Build True Wealth?

It is very possible for you to escape your job or career, join the new wealth club, and live anywhere. However, if you want to learn how to make money online, you must seek help from the experts who are qualified in the home business field.

The way this is done is by getting paid on the services people use everyday, like cell phone services and home security services. If you become a distributor for a good home business opportunity, you can make millions of dollars a year, by way of commissions from your customers bill.

Luckily for you, there are organizations of experts who offer free reports on how to build true wealth for yourself, through the strategy I proposed above.

money