Providing visual support Essay Example for Free

Providing visual animation EssayNancy is 24 year old women and a house wife by profession. She is disabled by birth and totally dependant on wheelchair. She stays with her husband, who is software professional and busy most of the time. Being a housewife, Nancy has vey micro technology knowledge and finds it difficult to use technology spontaneously. Nancy doesnt want her disability to become her weakness and wants to work desire a normal housewife, the likes of cooking for her husband, washing utensils etc. She wants a kitchen which is universally designed and where she should be able to work effectively like a normal person with help of use and learning being her first priority. How should an interior designer design a universally designed kitchen keeping in mind people like Nancy? Making the height of the kitchen cabinet, Cook top, Microwave stand accessible by wheelchair. Having an adjustable-height cabinets, female genital organ help all users to use them effectively . Also customizable design which can be changed based on user preferences also makes design effective and more usable. Having a removable sink and drying rack will give sufficient piazza for food preparation. This can again be re-fitted as and when required.Thus giving flexibility to people like Nancy or old aged people, who cant stand and cook. Foldable cabinet doors under cooktop, providing sufficient knee space. Providing visual support can also help users to use kitchen more easily and effectively. sound based support in kitchen can also be a good idea, thus qualification design accessible for people with low vision. modify dishwasher or microwave system can help them easily placing dish without much effort. Lets see some examples of universally designed kitchens Persona 3.He is a retired professional and stays alone in his 2 bedroom apartment which is on the 10th floor. He finds it difficult to bye and climb stairs and also have sight problem. Rodney has very little t echnology knowledge and finds it difficult to remember things, due to his growing age. He depends on electronic wheelchair most of the time. He needs an elevator system in his apartment which can accommodate his wheelchair also, making his life easy at this age.How can we make a universally designed elevator? Increasing the width of the elevator hence giving ample space to use wheelchairs and thus making it approachable Big display screen, which displays the floor details big and clear, thus accommodating people like Rodney to use it with ease Voice based support system, which informs the user which floor the user is in, can also help the disabled user to use them effectively. Lets see example of a universally designed elevator ConclusionIrrespective of age, ability or disability and situations, every has the right to effectively use any products or services, hence designers should evermore be conscious about this fact and implement their design ideas to serve one and everyone. This is what universal design means.Bibliography http//idea.ap.buffalo.edu/ http//www. design. ncsu. edu/cud/about_ud/udprincipleshtmlformat. htmltop Frascara J. , (1997), User-Centred Graphic heading Mass Communication and Social Change, Taylor Francis, London

Human Arrangements Essay Example for Free

Human Arrangements EssayThe increase of scantness in the recent years is one of the major problems which the f solely in States has to face. As the survey shows, the highest poverty points in the United States were witnessed during the years of recession, for example 1960, 1975, 1983 and others. However, the poverty arranges increased dramatically through 2001-2003. In 2002, the tally of people in poverty reached 34. 4 million, which is 12. 1% of the population. The poverty rate was at its lowest take aim between 1970-1980 years, but since that time it never reduced until that level. In the last years, it was the lowest in 2000 (at the level of 11%) but since that time it kept increase annually. In 2003, poverty rate reached 12. 5% which is 0. 4% higher than in 2002. The dynamics of poverty in the United States also shows that the most vulnerable members of the society are people under the age of 18 (17% of them are in poverty). Citizens aged 18-64 have had the lowest pover ty rates up to 2002, when the level of poverty rates of seniors (aged 65 and older) reached their level.According to the regional characteristic, states in which poverty rates increased the most included Florida, Illinois, Utah, South Carolina and others. It is also necessary to analyze the dynamics of poverty rates among different races. According to the survey, poverty rates increased greatly among all of the races present in the United States. At the equal time, the income level of White, Asian and moody households remained unchanged while the income of Latino households experienced some decrease.Among these groups, Black households have the lowest level of income and thus have the highest poverty rates among the groups in the society. In 2003, the median income of Black families reached only(prenominal) $30,000 which was only 62% of the $48,000 income of White households (non-Hispanic origin). The group with the highest income level, and thus the smallest number of people be low the poverty line was Asians. Their average income reached $55,000 in 2003. It is possible to conclude that among all of the groups, Blacks are experiencing the most problems with obtaining income.Asian households receive almost the double income of what Black households receive. Due to the fact that poverty rates are increasing with years, it means that Black citizens are going to become more and more vulnerable in the society. In 2003, 24. 4% of Black people were below the poverty line, and the percentage has increasing by 2005. For comparison, only 11% of Asian people were below the poverty line in 2003. There are many reasons why the poverty rate among Blacks has changed the most during the recent years.First, receivable to discrimination, many Black people are still unable to get high-paying jobs which people of other origins get easily. The experience of raw(a) siege of Orleans shows that despite the hopes of African Americans hat discrimination would be reduces with time , this process is very slow. Most of the people affected by hurricane in New Orleans lost their houses and jobs, and it will be very difficult for them to achieve their previous level of income in the following years. Unfortunately, the government did not take any measures to attend to the people whose houses were devastated by the hurricane.Situation with New Orleans is only one of the examples of how discrimination occurs in the United States and Black population is unable to reach the same income level as other races. Another reason of high poverty rate among Blacks is their inability to enter prestigious establishments of higher learning. Due to the low income level of their families in comparison with other races, they are often unable to obtain good education which would lead them to high-paying jobs.At the same time, it is necessary to mark that due to the introduction of Civil Rights legislation, the poverty level of Blacks in the recent years is much lower than it was befo re the adoption of legislation. Even though the poverty rate has been increasing during the last years, the average rate is much lower than it was in the 50s. Despite the fact that Blacks are still experiencing some sort of discrimination, it is much little noticeable as it was before the adoption of Civil Rights legislation.Owing to the legislation, they finally got an opportunity to have the same rights as white people and thus the general poverty level among Blacks declined dramatically in comparison with previous decades.Bibliography. 1. Poverty in the United States- 2002. Issued September 2003. Available at URL http// web.census.gov/prod/www/abs/popula.html 2. Income, Poverty and Health Insurance Coverage in the United States 2003. Issued August 2004. Available at URL http//www. census. gov/prod/www/abs/income. html.

Commodity Futures and Markets

mickle good Futures and MarketsChapter 1Introduction to lot good MarketWhat is trade good?Any product that dejection be employ for commerce or an bind of commerce which is traded on an authorized trade good commutation is know as good. The article should be conveyable of value, something which is bought or sold and which is produced or used as the subject or barter or sale. In short goodness includes all kinds of goods. Indian frontwards Contracts (Regulation) Act (FCRA), 1952 defines goods as e precise kind of transportable property other than actionable claims, m maveny and securities.In current situation, all goods and products of rude (including plantation), mineral and dodo origin be allowed for trade good work sure ben finishh the FCRA. The content commodity ex transfers, recognized by the Central government, permits commodities which include precious ( nones and silver) and non-ferrous metals, cereals and pulses, ginned and un-ginned cotton, oilseeds , oils and oilcakes, raw jute and jute goods, loot and gur, potatoes and onions, coffee and tea, rubber and spices. Etc.What is a commodity shift?A commodity rally is an association or a comp all(prenominal) or every other body corporate organizing risings vocation in commodities for which license has been disposed(p) by regulating authority.What is commodity Futures?A Commodity futuritys is an agreement in the midst of ii parties to get or trade in a contract and shopwornized quantity of a commodity at a certain time in prox at a worth agreed upon at the time of entering into the contract on the commodity risings exchange.The acquire for a futures commercialise arises mainly imputable to the hedging function that it crapper perform. Commodity commercializes, worry any other pecuniary instrument, involve luckiness associated with frequent price volatility. The loss due(p) to price volatility seat be attributed to the following reasonsConsumer Preferences In the short-term, their influence on price volatility is small since it is a slow process permitting manufacturers, dealers and wholesalers to adjust their armoury in advance.Changes in supply They atomic number 18 tart and unp blood-redictable bringing slightly wild fluctuations in prices. This give the axe especially noticed in rude commodities where the weather plays a major role in affecting the fortunes of people involved in this industry. The futures market has evolved to neutralize such guesss done a utensil namely hedging.The objectives of Commodity futures * Hedging with the objective of transferring peril colligate to the possession of sensual assets through with(predicate) any contrary moments in price. Liquidity and Price husking to ensure base borderline volume in craft of a commodity through market information and take up supply factors that facilitates a weak and authentic price stripping mechanism.* Maintaining buffer striving and snap off al post of resources as it augments reduction in inventory requirement and thus the exposure to risks relate with price fluctuation declines. Resources can thus be diversified for investments.* Price stabilization along with balancing quest and supply position. Futures commerce leads to predictability in assessing the house servant prices, which maintains stability, thus safeguarding against any short term unbecoming price movements. Liquidity in Contracts of the commodities traded in any case ensures in maintaining the equilibrium between demand and supply.* Flexibility, certainty and enhancer in purchasing commodities facilitate bank financing. Predictability in prices of commodity would lead to stability, which in turn would eliminate the risks associated with running the business of traffic commodities. This would present supporting easier and less stringent for banks to commodity market players.Benefits of Commodity Futures Markets-The essential objectives of any future s exchange ar authentic price disco very and an efficient price risk fill inment. The beneficiaries include those who trade in the commodities being offered in the exchange as well as those who have nothing to do with futures trading. It is because of price discovery and risk management through the existence of futures exchanges that a band of businesses and services atomic number 18 able to function smoothly.1. Price Discovery-Based on stimulations regarding specific market information, the demand and supply equilibrium, weather forecasts, expert views and comments, inflation rates, politics policies, market dynamics, hopes and fears, buyers and sellers conduct trading at futures exchanges. This transforms in to continuous price discovery mechanism. The execution of trade between buyers and sellers leads to assessment of fair value of a particular commodity that is immediately disseminated on the trading terminal.2. Price Risk Management Hedging is the or so common method of price risk management. It is dodging of offering price risk that is inherent in touch market by winning an partake but opposite position in the futures market. Futures markets are used as a mode by hedgers to nurse their business from adverse price change. This could wampum the profitability of their business. Hedging benefits who are involved in trading of commodities like farmers, processors, merchandisers, manufacturers, exporters, importers etc.3. Import- Export competitiveness The exporters can hedge their price risk and cleanse their competitiveness by fashioning use of futures market. A majority of traders which are involved in physical trade internationally intend to buy ships. The purchases make from the physical market might expose them to the risk of price risk resulting to losses. The existence of futures market would allow the exporters to hedge their proposed purchase by temporarily modify for actual purchase till the time is overripe to buy in physical mar ket. In the absence of futures market it give be meticulous, time consuming and costly physical transactions.4. Predictable Pricing The demand for certain commodities is highly price elastic. The manufacturers have to ensure that the prices should be stable in order to protect their market share with the free entry of imports. Futures contracts will enable predictability in domestic prices. The manufacturers can, as a result, smooth out the influence of changes in their input prices very easily. With no futures market, the manufacturer can be caught between severe short-term price movements of oils and necessity to maintain price stability, which could scarce be achievable through sufficient fiscal reserves that could differently be utilized for making other profitable investments.5. Benefits for farmers/Agriculturalists Price instability has a direct armorial bearing on farmers in the absence of futures market. There would be no need to have large reserves to cover against unfavorable price fluctuations. This would reduce the risk premiums associated with the marketing or processing margins enabling to a greater uttermost returns on produce. Storing more and being more active in the markets. The price information accessible to the farmers determines the extent to which traders/processors increase price to them. Since unitary of the objectives of futures exchange is to make available these prices as far as possible, it is very apparent to benefit the farmers. Also, due to the time dally between planning and production, the market-determined price information disseminated by futures exchanges would be crucial for their production decisions.6. denotation accessibility The absence of proper risk management tools would depict the marketing and processing of commodities to high-risk exposure making it risky business activity to fund. Even a small movement in prices can eat up a huge proportion of great owned by traders, at times making it nigh impo ssible to payback the loan. There is a high degree of reluctance among banks to fund commodity traders, especially those who do not manage price risks. If in case they do, the interest rate is likely to be high and damage and conditions very stringent. This posses a huge obstacle in the smooth functioning and competition of commodities market. Hedging, which is possible through futures markets, would cut mint the discount rate in commodity lending.7. change product fictitious character The existence of depletehouses for facilitating delivery with grading facilities along with other related benefits provides a very strong reason to upgrade and enhance the quality of the commodity to grade that is acceptable by the exchange. It ensures uniform standardization of commodity trade, including the terms of quality standard the quality certificates that are issued by the exchange-certified warehouses have the potentiality to become the norm for physical trade.Chapter 2History of Evolu tion of commodity marketsCommodities future trading was evolved from need of assured continuous supply of seasonal bucolic crops. The concept of conductd trading in commodities evolved in kale, in 1848. But one can wind its roots in Japan. In Japan merchants used to store Rice in warehouses for future use. To raise cash warehouse holders sold receipts against the stored rice. These were known as rice tickets. Eventually, these rice tickets become accepted as a kind of commercial currency. Latter on rules came in to being, to standardize the trading in rice tickets. In 19th carbon bread in United States had emerged as a major commercial hub. So that wheat producers from Mid-west attracted here to sell their produce to dealers distributors. Due to lack of organize stock facilities, absence of uniform weighing grading mechanisms producers often confined to the mercy of dealers discretion. These situations lead to need of establishing a common meeting ramble for farmers and d ealers to transact in spot grain to deliver wheat and receive cash in return.Gradually sellers buyers started making commitments to exchange the produce for cash in future and thus contract for futures trading evolved. Whereby the producer would agree to sell his produce to the buyer at a future delivery date at an agreed upon price. In this way producer was aware of what price he would fetch for his produce and dealer would know about his cost involved, in advance. This kind of agreement proved beneficial to both of them. As if dealer is not interested in taking delivery of the produce, he could sell his contract to soulfulness who needs the same. besides producer who not intended to deliver his produce to dealer could pass on the same obligation to someone else. The price of such contract would subject on the price movements in the wheat market. Latter on by making some modifications these contracts transform in to an instrument to protect involved parties against adverse fa ctors such as unexpected price movements and unfavorable climatic factors. This promoted traders entry in futures market, which had no intentions to buy or sell wheat but would strictly speculate on price movements in market to earn profit.Trading of wheat in futures became very profitable which encouraged the entry of other commodities in futures market. This created a platform for establishment of a body to regulate and supervise these contracts. Thats why Chicago plank of exchange (CBOT) was established in 1848. In 1870 and mid-eighties the juvenile York coffee bean, cotton plant and Produce centrals were born. Agricultural commodities were mostly traded but as long as in that respect are buyers and sellers, any commodity can be traded. In 1872, a group of Manhattan dairy merchants got together to bring chaotic condition in sassy York market to a system in terms of storage, pricing, and transfer of agricultural products. In 1933, during the Great Depression, the Commodit y transfer, Inc. was established in New York through the optical fusion of four small exchanges the guinea pig Metal metamorphose, the guard transposition of New York, the subject field Raw Silk Exchange, and the New York Hide Exchange.The largest commodity exchange in ground forces is Chicago poster of Trade, The Chicago Mercantile Exchange, the New York Mercantile Exchange, the New York Commodity Exchange and New York Coffee, sugar and cocoa Exchange. Worldwide there are major futures trading exchanges in over twenty dollar bill countries including Canada, England, India, France, Singapore, Japan, Australia and New Zealand.Chapter 3India and the commodity marketHistory of Commodity Market in India-The history of organized commodity derivatives in India goes back to the nineteenth century when Cotton Trade Association started futures trading in 1875, about a decade after they started in Chicago. Over the time datives market developed in several commodities in India. Follo wing Cotton, derivatives trading started in oilseed in Bombay (1900), raw jute and jute goods in Calcutta (1912), stubble in Hapur (1913) and currency in Bombay (1920).However many an(prenominal) feared that derivatives fuelled unnecessary speculation and were detrimental to the healthy functioning of the market for the down the stairslying commodities, resulting in to banning of commodity alternatives trading and cash settlement of commodities futures after independency in 1952. The parliament passed the Forward Contracts (Regulation) Act, 1952, which regulated contracts in Commodities all over the India. The act prohibited options trading in Goods along with cash settlement of forward trades, rendering a crushing blow to the commodity derivatives market. Under the act however those associations/exchanges, which are granted reorganization from the Government, are allowed to organize forward trading in regulated commodities. The act envisages three tire regulations (i) Exchang e which organizes forward trading in commodities can regulate trading on day-to-day innovation (ii) Forward Markets rush provides regulatory oversight under the powers delegated to it by the central Government. (iii) The Central Government- Department of Consumer Affairs, Ministry of Consumer Affairs, intellectual nourishment and Public Distribution- is the ultimate regulatory authority.The commodities future market remained dismantled and remained dormant for about four decades until the new millennium when the Government, in a complete change in a policy, started actively encouraging commodity market. After Liberalization and Globalization in 1990, the Government set up a committee (1993) to take in the role of futures trading. The Committee (headed by Prof. K.N. Kabra) recommended allowing futures trading in 17 commodity groups. It overly recommended strengthening Forward Markets Commission, and certain amendments to Forward Contracts (Regulation) Act 1952, particularly all owing option trading in goods and registration of divisors with Forward Markets Commission. The Government accepted most of these recommendations and futures trading was permitted in all recommended commodities. It is timely decision since internationally the commodity make pass is on upswing and the next decade being affected as the decade of Commodities.Commodity exchange in India plays an important role where the prices of any commodity are not fixed, in an organized way. Earlier sole(prenominal) the buyer of produce and its seller in the market judged upon the prices. Others never had a say.Today, commodity exchanges are purely speculative in nature. Before discovering the price, they reach to the producers, end-users, and correct the retail investors, at a grassroots level. It brings a price transparency and risk management in the vital market. A big difference between a typical auction, where a single auctioneer announces the bids and the Exchange is that people are not o nly competing to buy but also to sell. By Exchange rules and by law, no one can bid under a higher bid, and no one can offer to sell higher than someone elses lower offer. That keeps the market as efficient as possible, and keeps the traders on their toes to make sure no one gets the purchase or sale before they do. Since 2002, the commodities future market in India has experienced an unexpected boom in terms of modern exchanges, number of commodities allowed for derivatives trading as well as the value of futures trading in commodities, which crossed $ 1 trillion mark in 2006. Since 1952 till 2002 commodity datives market was virtually non- existent, except some negligible activities on unlisted basis.In India there are 25 recognized future exchanges, of which there are three national level multi-commodity exchanges. After a gap of nigh three decades, Government of India has allowed forward transactions in commodities through Online Commodity Exchanges, a modification of traditi onalistic business known as Adhat and Vayda Vyapar to facilitate better risk coverage and delivery of commodities. The three exchanges are National Commodity Derivatives Exchange exceptional (NCDEX) Mumbai, Multi Commodity Exchange of India express (MCX) Mumbai and National Multi-Commodity Exchange of India Limited (NMCEIL) Ahmedabad.There are other regional commodity exchanges situated in different parts of India.Legal modelling for regulating commodity futures in India-The commodity futures traded in commodity exchanges are regulated by the Government under the Forward Contracts Regulations Act, 1952 and the Rules framed there under. The regulator for the commodities trading is the Forward Markets Commission, situated at Mumbai, which comes under the Ministry of Consumer Affairs Food and Public DistributionForward Markets Commission (FMC)-It is statutory institution set up in 1953 under Forward Contracts (Regulation) Act, 1952. Commission consists of minimum two and maximum fo ur members appointed by Central Govt. Out of these members there is one nominate chairman. All the exchanges have been set up under overall control of Forward Market Commission (FMC) of Government of India.National Commodities Derivatives Exchange Limited (NCDEX)National Commodities Derivatives Exchange Limited (NCDEX) promoted by ICICI edge Limited (ICICI aver), Life Insurance fellowship of India (LIC), National Bank of Agriculture and Rural Development (NABARD) and National origin Exchange of India Limited (NSC). Punjab National Bank (PNB), Credit Ratting Information Service of India Limited (CRISIL), Indian Farmers Fertilizer Cooperative Limited (IFFCO), Canara Bank and Goldman Sachs by subscribing to the equity shares have joined the promoters as a share holder of exchange. NCDEX is the only Commodity Exchange in the country promoted by national level institutions.NCDEX is a public limited company bodied on 23 April 2003. NCDEX is a national level technology driven on li ne Commodity Exchange with an strong-minded Board of Directors and professionals not having any vested interest in Commodity Markets.It is committed to provide a world class commodity exchange platform for market participants to trade in a wide spectrum of commodity derivatives driven by best global practices, professionalism and transparency.NCDEX is regulated by Forward Markets Commission (FMC). NCDEX is also subjected to the various laws of land like the Companies Act, form Act, Contracts Act, Forward Contracts Regulation Act and various other legislations.NCDEX is located in Mumbai and offers facilities to its members in more than 550 centers through out India. NCDEX currently facilitates trading of 57 commodities.Commodities Traded at NCDEX- Bullion-Gold KG, silvery, brant Minerals-Electrolytic Copper Cathode, Aluminum Ingot, NickelCathode, Zinc Metal Ingot, bonkers steel Ingots oil color and Oil seeds-Cotton seed, Oil cake, Crude Palm Oil, Groundnut (in shell),Groundnut expeller Oil, Cotton, Mentha oil, RBD Pamolein, RMseed oil cake, Refined soya oil, intrusion seeds, Mustard seeds,Caster seed, jaundiced soybean, Meal Pulses-Urad, Yellow peas, Chana, Tur, Masoor, Grain-Wheat, Indian Pusa Basmati Rice, Indian parboiled Rice (IR-36/IR-64), Indian raw Rice (ParmalPR-106), Barley, Yellowred maize Spices-Jeera, Turmeric, Pepper Plantation-Cashew, Coffee Arabica, Coffee Robusta Fibers and other-Guar Gum, Guar seeds, Guar, Jute sacking bags, Indian 28mm cotton, Indian 31mm cotton, Lemon, Grain Bold, moderateStaple, Mulberry, Green Cottons, , , Potato, Raw Jute,Mulberry raw Silk, V-797 Kapas, Sugar, chili LCA334 Energy-Crude Oil, Furnace oil, Thermal Coal, Brent Crude Oil, Natural Gas, Gasoline, Heating OilMulti Commodity Exchange of India Limited (MCX)Multi Commodity Exchange of India Limited (MCX) is an independent and de-mutulized exchange with permanent reorganization from Government of India, having Head Quarter in Mumbai. Key share holders of MCX are Financial Technologies (India) Limited, State Bank of India, Union Bank of India, Corporation Bank of India, Bank of India and Cnnara Bank. MCX facilitates online trading, clearing and settlement operations for commodity futures market across the country.MCX started of trade in Nov 2003 and has built strategic alliance with Bombay Bullion Association, Bombay Metal Exchange, Solvent Extractors Association of India, pulses Importers Association and Shetkari Sanghatana.MCX deals wit about 100 commodities.Commodities Traded at MCX- Bullion-Gold, Silver, Silver Coins, Minerals-Aluminum, Copper, Nickel, Iron/steel, Tin, Zinc, Lead Oil and Oil seeds- opera hat oil/castor seeds, Crude Palm oil/ RBD Pamolein, Groundnut oil, Mustard/ Rapeseed oil, Soy seeds/Soy repast/Refined Soy Oil, Coconut Oil Cake, Copra, helianthus oil, Sunflower Oil cake, Tamarind seed oil, Pulses-Chana, Masur, Tur, Urad, Yellow peas Grains-Rice/ Basmati Rice, Wheat, Maize, Bajara, Barley, Spices-Pepper, Red Chili , Jeera, Cardamom, Cinnamon, Clove,Ginger, Plantation-Cashew Kernel, Rubber, Areca nut, betel pepper nuts, Coconut,Coffee, Fiber and others-Kapas, Kapas Khalli, Cotton (long staple, medium staple,short staple), Cotton Cloth, Cotton Yarn, Gaur seed andGuargum, Gur and Sugar, Khandsari, Mentha Oil, Potato, ArtSilk Yarn, Chara or Berseem, Raw Jute, Jute Goods, JuteSacking, Petrochemicals-High immersion Polyethylene (HDPE), Polypropylene (PP), PolyVinyl Chloride (PVC) Energy-Brent Crude Oil, Crude Oil, Furnace Oil, Middle East SourCrude Oil, Natural Gas Whether- degree Celsius (CER), Carbon (CFI)National Multi Commodity Exchange of India Limited (NMCEIL)National Multi Commodity Exchange of India Limited (NMCEIL) is the first de-mutualised Electronic Multi Commodity Exchange in India. On twenty-fifth July 2001 it was granted approval by Government to organize trading in edible oil complex. It is being supported by Central warehousing Corporation Limited, Gujarat State Agricultural Mark eting Board and Neptune abroad Limited. It got reorganization in Oct 2002. NMCEIL Head Quarter is at Ahmedabad.Chapter 4INTERNATIONAL COMMODITY EXCHANGESFutures trading is a result of solution to a problem related to the maintenance of a year round supply of commodities/ products that are seasonal as is the case of agricultural produce. The United States, Japan, United Kingdom, Brazil, Australia, Singapore are homes to principal commodity futures exchanges in the world.The New York Mercantile Exchange (NYMEX)-The New York Mercantile Exchange is the worlds biggest exchange for trading in physical commodity futures. It is a ancient trading forum for energy products and precious metals. The exchange is in existence since last 132 years and performs trades bowling ball two divisions, the NYMEX division, which deals in energy and platinum and the COMEX division, which trades in all the other metals.Commodities traded Light sweet crude oil, Natural Gas, Heating Oil, Gasoline, RBOB Ga soline, Electricity Propane, Gold, Silver, Copper, Aluminum, Platinum, Palladium, etc.capital of the United Kingdom Metal Exchange-The London Metal Exchange (LME) is the worlds premier non-ferrous market, with highly liquid contracts. The exchange was formed in 1877 as a direct backwash of the industrial revolution witnessed in the 19th century. The primary focus of LME is in providing a market for participants from non-ferrous based metals related industry to safeguard against risk due to movement in base metal prices and also arrive at a price that sets the benchmark globally. The exchange trades 24 hours a day through an inter office telephone market and also through a electronic trading platform. It is famous for its sacrifice-outcry trading between ring dealing members that takes place on the market floor.Commodities traded- Aluminum, Copper, Nickel, Lead, Tin, Zinc, Aluminum Alloy, North American Special Aluminum Alloy (NASAAC), Polypropylene, Linear Low Density Polyethylen e, etc.The Chicago Board of Trade-The first commodity exchange established in the world was the Chicago Board of Trade (CBOT) during 1848 by group of Chicago merchants who were keen to establish a central market place for trade. Presently, the Chicago Board of Trade is one of the leading exchanges in the world for trading futures and options. More than 50 contracts on futures and options are being offered by CBOT currently through open outcry and/or electronically. CBOT initially dealt only in Agricultural commodities like corn, wheat, non storable agricultural commodities and non-agricultural products like gold and silver.Commodities Traded Corn, Soybean, Oil, Soybean meal, Wheat, Oats, Ethanol, Rough Rice, Gold, Silver etc.capital of Japan Commodity Exchange (TOCOM)-The Tokyo Commodity Exchange (TOCOM) is the stand by largest commodity futures exchange in the world. It trades in to metals and energy contracts. It has made rapid advancement in commodity trading globally since its inception 20 years back. One of the biggest reasons for that is the initiative TOCOM took towards establishing Asia as the benchmark for price discovery and risk management in commodities like the Middle East Crude Oil. TOCOMs recent tie up with the MCX to explore cooperation and business opportunities is seen as one of the steps towards providing platform for futures price discovery in Asia for Asian players in Crude Oil since the demand-supply situation in U.S. that drives NYMEX is different from demand-supply situation in Asia. In Jan 2003, in a major whelm of its computerized trading system, TOCOM fortified its clearing system in June by being first commodity exchange in Japan to introduce an in-house clearing system. TOCOM launched options on gold futures, the first option contract in Japanese market, in May 2004.Commodities traded Gasoline, Kerosene, Crude Oil, Gold, Silver, Platinum, Aluminum, Rubber, etcChicago Mercantile Exchange-The Chicago Mercantile Exchange (CME) is the largest futures exchange in the US and the largest futures clearing house in the world for futures and options trading. Formed in 1898 in the main to trade in Agricultural commodities, the CME introduced the worlds first financial futures more than 30 years ago. Today it trades heavily in interest rates futures, stock indices and remote exchange futures. Its products often serves as a financial benchmark and witnesses the largest open interest in futures profile of CME consists of livestock, dairy and forest products and enables small family farms to large Agri-business to manage their price risks. Trading in CME can be done either through pit trading or electronically.Commodities Traded Butter milk, Diammonium phosphate, Feeder cattle, frozen pork barrel bellies, Lean Hogs, Live cattle, Non-fat Dry Milk, Urea, Urea ammonium ion Nitrate, etcChapter 5How Commodity market works?There are two kinds of trades in commodities. The first is the spot trade, in which one pays cash a nd carries away the goods. The second is futures trade. The underpinning for futures is the warehouse receipt. A person unsexs certain amount of say, good X in a ware house and gets a warehouse receipt. Which allows him to film for physical delivery of the good from the warehouse. But some one trading in commodity futures need not necessarily posses such a receipt to seize a deal. A person can buy or sale a commodity future on an exchange based on his expectation of where the price will go. Futures have something called an expiry date, by when the buyer or seller either closes (square off) his describe or give/take delivery of the commodity. The broker maintains an account of all dealing parties in which the daily profit or loss due to changes in the futures price is recorded. Squiring off is done by taking an opposite contract so that the net outstanding is nil.For commodity futures to work, the seller should be able to deposit the commodity at warehouse nearest to him and pi le up the warehouse receipt. The buyer should be able to take physical delivery at a location of his choice on presenting the warehouse receipt. But at present in India very few warehouses provide delivery for specific commodities.Following diagram gives a fair idea about working of the Commodity market.Today Commodity trading system is fully computerized. Traders need not visit a commodity market to speculate. With online commodity trading they could sit in the confines of their home or office and call the shots.The commodity trading system consists of certain incontrovertible steps or confronts as followsI. Trading At this stage the following is the system implemented- Order receiving Execution Matching Reporting Surveillance Price limits countersink limitsII. Clearing This stage has following system in place- Matching Registration Clearing Clearing limits Notation Margining Price limits Position limits Clearing house.III. Settlement This stage has following system followed as follows- Marking to market Receipts and payments Reporting Delivery upon expiration or maturity.Chapter 6Investments in CommoditiesHow to invest in a Commodities?With whom investor can transact a business?An investor can transact a business with the canonical clearing member of previously mentioned Commodity Exchanges. The investor can ask for the details from the Commodity Exchanges about the list of approved members.What is Identity Proof?When investor approaches Clearing Member, the member will ask for identity proof. For which Xerox copy of any one of the following can be tending(p)a) PAN card Numberb) Driving Licensec) Vote IDd) come upportWhat statements should be given for Bank Proof?The front page of Bank Pass Book and a canceled cheque of a concerned bank. Otherwise the Bank Statement containing details can be given.What are the particulars to be given for cover up proof?In order to ascertain the address of investor, the clearing member will insist on Xerox copy of R ation card or the Pass Book/ Bank Statement where the address of investor is given.What are the other forms to be signed by the investor?The clearing member will ask the lymph gland to signa) Know your client formb) Risk Discloser DocumentThe above things are only surgical operation in character and the risk involved and only after understanding the business, he wants to transact business.What aspects should be consideCommodity Futures and MarketsCommodity Futures and MarketsChapter 1Introduction to Commodity MarketWhat is Commodity?Any product that can be used for commerce or an article of commerce which is traded on an authorized commodity exchange is known as commodity. The article should be movable of value, something which is bought or sold and which is produced or used as the subject or barter or sale. In short commodity includes all kinds of goods. Indian Forward Contracts (Regulation) Act (FCRA), 1952 defines goods as every kind of movable property other than actionable cl aims, money and securities.In current situation, all goods and products of agricultural (including plantation), mineral and fossil origin are allowed for commodity trading recognized under the FCRA. The national commodity exchanges, recognized by the Central Government, permits commodities which include precious (gold and silver) and non-ferrous metals, cereals and pulses, ginned and un-ginned cotton, oilseeds, oils and oilcakes, raw jute and jute goods, sugar and gur, potatoes and onions, coffee and tea, rubber and spices. Etc.What is a commodity exchange?A commodity exchange is an association or a company or any other body corporate organizing futures trading in commodities for which license has been granted by regulating authority.What is Commodity Futures?A Commodity futures is an agreement between two parties to buy or sell a specified and standardized quantity of a commodity at a certain time in future at a price agreed upon at the time of entering into the contract on the com modity futures exchange.The need for a futures market arises mainly due to the hedging function that it can perform. Commodity markets, like any other financial instrument, involve risk associated with frequent price volatility. The loss due to price volatility can be attributed to the following reasonsConsumer Preferences In the short-term, their influence on price volatility is small since it is a slow process permitting manufacturers, dealers and wholesalers to adjust their inventory in advance.Changes in supply They are abrupt and unpredictable bringing about wild fluctuations in prices. This can especially noticed in agricultural commodities where the weather plays a major role in affecting the fortunes of people involved in this industry. The futures market has evolved to neutralize such risks through a mechanism namely hedging.The objectives of Commodity futures * Hedging with the objective of transferring risk related to the possession of physical assets through any advers e moments in price. Liquidity and Price discovery to ensure base minimum volume in trading of a commodity through market information and demand supply factors that facilitates a regular and authentic price discovery mechanism.* Maintaining buffer stock and better allocation of resources as it augments reduction in inventory requirement and thus the exposure to risks related with price fluctuation declines. Resources can thus be diversified for investments.* Price stabilization along with balancing demand and supply position. Futures trading leads to predictability in assessing the domestic prices, which maintains stability, thus safeguarding against any short term adverse price movements. Liquidity in Contracts of the commodities traded also ensures in maintaining the equilibrium between demand and supply.* Flexibility, certainty and transparency in purchasing commodities facilitate bank financing. Predictability in prices of commodity would lead to stability, which in turn would el iminate the risks associated with running the business of trading commodities. This would make funding easier and less stringent for banks to commodity market players.Benefits of Commodity Futures Markets-The primary objectives of any futures exchange are authentic price discovery and an efficient price risk management. The beneficiaries include those who trade in the commodities being offered in the exchange as well as those who have nothing to do with futures trading. It is because of price discovery and risk management through the existence of futures exchanges that a lot of businesses and services are able to function smoothly.1. Price Discovery-Based on inputs regarding specific market information, the demand and supply equilibrium, weather forecasts, expert views and comments, inflation rates, Government policies, market dynamics, hopes and fears, buyers and sellers conduct trading at futures exchanges. This transforms in to continuous price discovery mechanism. The execution of trade between buyers and sellers leads to assessment of fair value of a particular commodity that is immediately disseminated on the trading terminal.2. Price Risk Management Hedging is the most common method of price risk management. It is strategy of offering price risk that is inherent in spot market by taking an equal but opposite position in the futures market. Futures markets are used as a mode by hedgers to protect their business from adverse price change. This could dent the profitability of their business. Hedging benefits who are involved in trading of commodities like farmers, processors, merchandisers, manufacturers, exporters, importers etc.3. Import- Export competitiveness The exporters can hedge their price risk and improve their competitiveness by making use of futures market. A majority of traders which are involved in physical trade internationally intend to buy forwards. The purchases made from the physical market might expose them to the risk of price risk r esulting to losses. The existence of futures market would allow the exporters to hedge their proposed purchase by temporarily substituting for actual purchase till the time is ripe to buy in physical market. In the absence of futures market it will be meticulous, time consuming and costly physical transactions.4. Predictable Pricing The demand for certain commodities is highly price elastic. The manufacturers have to ensure that the prices should be stable in order to protect their market share with the free entry of imports. Futures contracts will enable predictability in domestic prices. The manufacturers can, as a result, smooth out the influence of changes in their input prices very easily. With no futures market, the manufacturer can be caught between severe short-term price movements of oils and necessity to maintain price stability, which could only be possible through sufficient financial reserves that could otherwise be utilized for making other profitable investments.5. B enefits for farmers/Agriculturalists Price instability has a direct bearing on farmers in the absence of futures market. There would be no need to have large reserves to cover against unfavorable price fluctuations. This would reduce the risk premiums associated with the marketing or processing margins enabling more returns on produce. Storing more and being more active in the markets. The price information accessible to the farmers determines the extent to which traders/processors increase price to them. Since one of the objectives of futures exchange is to make available these prices as far as possible, it is very likely to benefit the farmers. Also, due to the time lag between planning and production, the market-determined price information disseminated by futures exchanges would be crucial for their production decisions.6. Credit accessibility The absence of proper risk management tools would attract the marketing and processing of commodities to high-risk exposure making it r isky business activity to fund. Even a small movement in prices can eat up a huge proportion of capital owned by traders, at times making it virtually impossible to payback the loan. There is a high degree of reluctance among banks to fund commodity traders, especially those who do not manage price risks. If in case they do, the interest rate is likely to be high and terms and conditions very stringent. This posses a huge obstacle in the smooth functioning and competition of commodities market. Hedging, which is possible through futures markets, would cut down the discount rate in commodity lending.7. Improved product quality The existence of warehouses for facilitating delivery with grading facilities along with other related benefits provides a very strong reason to upgrade and enhance the quality of the commodity to grade that is acceptable by the exchange. It ensures uniform standardization of commodity trade, including the terms of quality standard the quality certificates tha t are issued by the exchange-certified warehouses have the potential to become the norm for physical trade.Chapter 2History of Evolution of commodity marketsCommodities future trading was evolved from need of assured continuous supply of seasonal agricultural crops. The concept of organized trading in commodities evolved in Chicago, in 1848. But one can trace its roots in Japan. In Japan merchants used to store Rice in warehouses for future use. To raise cash warehouse holders sold receipts against the stored rice. These were known as rice tickets. Eventually, these rice tickets become accepted as a kind of commercial currency. Latter on rules came in to being, to standardize the trading in rice tickets. In 19th century Chicago in United States had emerged as a major commercial hub. So that wheat producers from Mid-west attracted here to sell their produce to dealers distributors. Due to lack of organized storage facilities, absence of uniform weighing grading mechanisms producers often confined to the mercy of dealers discretion. These situations lead to need of establishing a common meeting place for farmers and dealers to transact in spot grain to deliver wheat and receive cash in return.Gradually sellers buyers started making commitments to exchange the produce for cash in future and thus contract for futures trading evolved. Whereby the producer would agree to sell his produce to the buyer at a future delivery date at an agreed upon price. In this way producer was aware of what price he would fetch for his produce and dealer would know about his cost involved, in advance. This kind of agreement proved beneficial to both of them. As if dealer is not interested in taking delivery of the produce, he could sell his contract to someone who needs the same. Similarly producer who not intended to deliver his produce to dealer could pass on the same responsibility to someone else. The price of such contract would dependent on the price movements in the wheat ma rket. Latter on by making some modifications these contracts transformed in to an instrument to protect involved parties against adverse factors such as unexpected price movements and unfavorable climatic factors. This promoted traders entry in futures market, which had no intentions to buy or sell wheat but would purely speculate on price movements in market to earn profit.Trading of wheat in futures became very profitable which encouraged the entry of other commodities in futures market. This created a platform for establishment of a body to regulate and supervise these contracts. Thats why Chicago Board of Trade (CBOT) was established in 1848. In 1870 and 1880s the New York Coffee, Cotton and Produce Exchanges were born. Agricultural commodities were mostly traded but as long as there are buyers and sellers, any commodity can be traded. In 1872, a group of Manhattan dairy merchants got together to bring chaotic condition in New York market to a system in terms of storage, pricing , and transfer of agricultural products. In 1933, during the Great Depression, the Commodity Exchange, Inc. was established in New York through the merger of four small exchanges the National Metal Exchange, the Rubber Exchange of New York, the National Raw Silk Exchange, and the New York Hide Exchange.The largest commodity exchange in USA is Chicago Board of Trade, The Chicago Mercantile Exchange, the New York Mercantile Exchange, the New York Commodity Exchange and New York Coffee, sugar and cocoa Exchange. Worldwide there are major futures trading exchanges in over twenty countries including Canada, England, India, France, Singapore, Japan, Australia and New Zealand.Chapter 3India and the commodity marketHistory of Commodity Market in India-The history of organized commodity derivatives in India goes back to the nineteenth century when Cotton Trade Association started futures trading in 1875, about a decade after they started in Chicago. Over the time datives market developed in several commodities in India. Following Cotton, derivatives trading started in oilseed in Bombay (1900), raw jute and jute goods in Calcutta (1912), Wheat in Hapur (1913) and Bullion in Bombay (1920).However many feared that derivatives fuelled unnecessary speculation and were detrimental to the healthy functioning of the market for the underlying commodities, resulting in to banning of commodity options trading and cash settlement of commodities futures after independence in 1952. The parliament passed the Forward Contracts (Regulation) Act, 1952, which regulated contracts in Commodities all over the India. The act prohibited options trading in Goods along with cash settlement of forward trades, rendering a crushing blow to the commodity derivatives market. Under the act only those associations/exchanges, which are granted reorganization from the Government, are allowed to organize forward trading in regulated commodities. The act envisages three tire regulations (i) Exchange whic h organizes forward trading in commodities can regulate trading on day-to-day basis (ii) Forward Markets Commission provides regulatory oversight under the powers delegated to it by the central Government. (iii) The Central Government- Department of Consumer Affairs, Ministry of Consumer Affairs, Food and Public Distribution- is the ultimate regulatory authority.The commodities future market remained dismantled and remained dormant for about four decades until the new millennium when the Government, in a complete change in a policy, started actively encouraging commodity market. After Liberalization and Globalization in 1990, the Government set up a committee (1993) to examine the role of futures trading. The Committee (headed by Prof. K.N. Kabra) recommended allowing futures trading in 17 commodity groups. It also recommended strengthening Forward Markets Commission, and certain amendments to Forward Contracts (Regulation) Act 1952, particularly allowing option trading in goods and registration of brokers with Forward Markets Commission. The Government accepted most of these recommendations and futures trading was permitted in all recommended commodities. It is timely decision since internationally the commodity cycle is on upswing and the next decade being touched as the decade of Commodities.Commodity exchange in India plays an important role where the prices of any commodity are not fixed, in an organized way. Earlier only the buyer of produce and its seller in the market judged upon the prices. Others never had a say.Today, commodity exchanges are purely speculative in nature. Before discovering the price, they reach to the producers, end-users, and even the retail investors, at a grassroots level. It brings a price transparency and risk management in the vital market. A big difference between a typical auction, where a single auctioneer announces the bids and the Exchange is that people are not only competing to buy but also to sell. By Exchange rules an d by law, no one can bid under a higher bid, and no one can offer to sell higher than someone elses lower offer. That keeps the market as efficient as possible, and keeps the traders on their toes to make sure no one gets the purchase or sale before they do. Since 2002, the commodities future market in India has experienced an unexpected boom in terms of modern exchanges, number of commodities allowed for derivatives trading as well as the value of futures trading in commodities, which crossed $ 1 trillion mark in 2006. Since 1952 till 2002 commodity datives market was virtually non- existent, except some negligible activities on OTC basis.In India there are 25 recognized future exchanges, of which there are three national level multi-commodity exchanges. After a gap of almost three decades, Government of India has allowed forward transactions in commodities through Online Commodity Exchanges, a modification of traditional business known as Adhat and Vayda Vyapar to facilitate bette r risk coverage and delivery of commodities. The three exchanges are National Commodity Derivatives Exchange Limited (NCDEX) Mumbai, Multi Commodity Exchange of India Limited (MCX) Mumbai and National Multi-Commodity Exchange of India Limited (NMCEIL) Ahmedabad.There are other regional commodity exchanges situated in different parts of India.Legal framework for regulating commodity futures in India-The commodity futures traded in commodity exchanges are regulated by the Government under the Forward Contracts Regulations Act, 1952 and the Rules framed there under. The regulator for the commodities trading is the Forward Markets Commission, situated at Mumbai, which comes under the Ministry of Consumer Affairs Food and Public DistributionForward Markets Commission (FMC)-It is statutory institution set up in 1953 under Forward Contracts (Regulation) Act, 1952. Commission consists of minimum two and maximum four members appointed by Central Govt. Out of these members there is one nomin ated chairman. All the exchanges have been set up under overall control of Forward Market Commission (FMC) of Government of India.National Commodities Derivatives Exchange Limited (NCDEX)National Commodities Derivatives Exchange Limited (NCDEX) promoted by ICICI Bank Limited (ICICI Bank), Life Insurance Corporation of India (LIC), National Bank of Agriculture and Rural Development (NABARD) and National Stock Exchange of India Limited (NSC). Punjab National Bank (PNB), Credit Ratting Information Service of India Limited (CRISIL), Indian Farmers Fertilizer Cooperative Limited (IFFCO), Canara Bank and Goldman Sachs by subscribing to the equity shares have joined the promoters as a share holder of exchange. NCDEX is the only Commodity Exchange in the country promoted by national level institutions.NCDEX is a public limited company incorporated on 23 April 2003. NCDEX is a national level technology driven on line Commodity Exchange with an independent Board of Directors and professiona ls not having any vested interest in Commodity Markets.It is committed to provide a world class commodity exchange platform for market participants to trade in a wide spectrum of commodity derivatives driven by best global practices, professionalism and transparency.NCDEX is regulated by Forward Markets Commission (FMC). NCDEX is also subjected to the various laws of land like the Companies Act, Stamp Act, Contracts Act, Forward Contracts Regulation Act and various other legislations.NCDEX is located in Mumbai and offers facilities to its members in more than 550 centers through out India. NCDEX currently facilitates trading of 57 commodities.Commodities Traded at NCDEX- Bullion-Gold KG, Silver, Brent Minerals-Electrolytic Copper Cathode, Aluminum Ingot, NickelCathode, Zinc Metal Ingot, Mild steel Ingots Oil and Oil seeds-Cotton seed, Oil cake, Crude Palm Oil, Groundnut (in shell),Groundnut expeller Oil, Cotton, Mentha oil, RBD Pamolein, RMseed oil cake, Refined soya oil, Rape seeds , Mustard seeds,Caster seed, Yellow soybean, Meal Pulses-Urad, Yellow peas, Chana, Tur, Masoor, Grain-Wheat, Indian Pusa Basmati Rice, Indian parboiled Rice (IR-36/IR-64), Indian raw Rice (ParmalPR-106), Barley, Yellowred maize Spices-Jeera, Turmeric, Pepper Plantation-Cashew, Coffee Arabica, Coffee Robusta Fibers and other-Guar Gum, Guar seeds, Guar, Jute sacking bags, Indian 28mm cotton, Indian 31mm cotton, Lemon, Grain Bold, MediumStaple, Mulberry, Green Cottons, , , Potato, Raw Jute,Mulberry raw Silk, V-797 Kapas, Sugar, Chilli LCA334 Energy-Crude Oil, Furnace oil, Thermal Coal, Brent Crude Oil, Natural Gas, Gasoline, Heating OilMulti Commodity Exchange of India Limited (MCX)Multi Commodity Exchange of India Limited (MCX) is an independent and de-mutulized exchange with permanent reorganization from Government of India, having Head Quarter in Mumbai. Key share holders of MCX are Financial Technologies (India) Limited, State Bank of India, Union Bank of India, Corporation Bank of India, Bank of India and Cnnara Bank. MCX facilitates online trading, clearing and settlement operations for commodity futures market across the country.MCX started of trade in Nov 2003 and has built strategic alliance with Bombay Bullion Association, Bombay Metal Exchange, Solvent Extractors Association of India, pulses Importers Association and Shetkari Sanghatana.MCX deals wit about 100 commodities.Commodities Traded at MCX- Bullion-Gold, Silver, Silver Coins, Minerals-Aluminum, Copper, Nickel, Iron/steel, Tin, Zinc, Lead Oil and Oil seeds-Castor oil/castor seeds, Crude Palm oil/ RBD Pamolein, Groundnut oil, Mustard/ Rapeseed oil, Soy seeds/Soy meal/Refined Soy Oil, Coconut Oil Cake, Copra, Sunflower oil, Sunflower Oil cake, Tamarind seed oil, Pulses-Chana, Masur, Tur, Urad, Yellow peas Grains-Rice/ Basmati Rice, Wheat, Maize, Bajara, Barley, Spices-Pepper, Red Chili, Jeera, Cardamom, Cinnamon, Clove,Ginger, Plantation-Cashew Kernel, Rubber, Areca nut, Betel nuts, Coconut,Coffee , Fiber and others-Kapas, Kapas Khalli, Cotton (long staple, medium staple,short staple), Cotton Cloth, Cotton Yarn, Gaur seed andGuargum, Gur and Sugar, Khandsari, Mentha Oil, Potato, ArtSilk Yarn, Chara or Berseem, Raw Jute, Jute Goods, JuteSacking, Petrochemicals-High Density Polyethylene (HDPE), Polypropylene (PP), PolyVinyl Chloride (PVC) Energy-Brent Crude Oil, Crude Oil, Furnace Oil, Middle East SourCrude Oil, Natural Gas Whether-Carbon (CER), Carbon (CFI)National Multi Commodity Exchange of India Limited (NMCEIL)National Multi Commodity Exchange of India Limited (NMCEIL) is the first de-mutualised Electronic Multi Commodity Exchange in India. On 25th July 2001 it was granted approval by Government to organize trading in edible oil complex. It is being supported by Central warehousing Corporation Limited, Gujarat State Agricultural Marketing Board and Neptune Overseas Limited. It got reorganization in Oct 2002. NMCEIL Head Quarter is at Ahmedabad.Chapter 4INTERNATIONAL COMMOD ITY EXCHANGESFutures trading is a result of solution to a problem related to the maintenance of a year round supply of commodities/ products that are seasonal as is the case of agricultural produce. The United States, Japan, United Kingdom, Brazil, Australia, Singapore are homes to leading commodity futures exchanges in the world.The New York Mercantile Exchange (NYMEX)-The New York Mercantile Exchange is the worlds biggest exchange for trading in physical commodity futures. It is a primary trading forum for energy products and precious metals. The exchange is in existence since last 132 years and performs trades trough two divisions, the NYMEX division, which deals in energy and platinum and the COMEX division, which trades in all the other metals.Commodities traded Light sweet crude oil, Natural Gas, Heating Oil, Gasoline, RBOB Gasoline, Electricity Propane, Gold, Silver, Copper, Aluminum, Platinum, Palladium, etc.London Metal Exchange-The London Metal Exchange (LME) is the world s premier non-ferrous market, with highly liquid contracts. The exchange was formed in 1877 as a direct consequence of the industrial revolution witnessed in the 19th century. The primary focus of LME is in providing a market for participants from non-ferrous based metals related industry to safeguard against risk due to movement in base metal prices and also arrive at a price that sets the benchmark globally. The exchange trades 24 hours a day through an inter office telephone market and also through a electronic trading platform. It is famous for its open-outcry trading between ring dealing members that takes place on the market floor.Commodities traded- Aluminum, Copper, Nickel, Lead, Tin, Zinc, Aluminum Alloy, North American Special Aluminum Alloy (NASAAC), Polypropylene, Linear Low Density Polyethylene, etc.The Chicago Board of Trade-The first commodity exchange established in the world was the Chicago Board of Trade (CBOT) during 1848 by group of Chicago merchants who were kee n to establish a central market place for trade. Presently, the Chicago Board of Trade is one of the leading exchanges in the world for trading futures and options. More than 50 contracts on futures and options are being offered by CBOT currently through open outcry and/or electronically. CBOT initially dealt only in Agricultural commodities like corn, wheat, non storable agricultural commodities and non-agricultural products like gold and silver.Commodities Traded Corn, Soybean, Oil, Soybean meal, Wheat, Oats, Ethanol, Rough Rice, Gold, Silver etc.Tokyo Commodity Exchange (TOCOM)-The Tokyo Commodity Exchange (TOCOM) is the second largest commodity futures exchange in the world. It trades in to metals and energy contracts. It has made rapid advancement in commodity trading globally since its inception 20 years back. One of the biggest reasons for that is the initiative TOCOM took towards establishing Asia as the benchmark for price discovery and risk management in commodities like the Middle East Crude Oil. TOCOMs recent tie up with the MCX to explore cooperation and business opportunities is seen as one of the steps towards providing platform for futures price discovery in Asia for Asian players in Crude Oil since the demand-supply situation in U.S. that drives NYMEX is different from demand-supply situation in Asia. In Jan 2003, in a major overhaul of its computerized trading system, TOCOM fortified its clearing system in June by being first commodity exchange in Japan to introduce an in-house clearing system. TOCOM launched options on gold futures, the first option contract in Japanese market, in May 2004.Commodities traded Gasoline, Kerosene, Crude Oil, Gold, Silver, Platinum, Aluminum, Rubber, etcChicago Mercantile Exchange-The Chicago Mercantile Exchange (CME) is the largest futures exchange in the US and the largest futures clearing house in the world for futures and options trading. Formed in 1898 primarily to trade in Agricultural commodities, the C ME introduced the worlds first financial futures more than 30 years ago. Today it trades heavily in interest rates futures, stock indices and foreign exchange futures. Its products often serves as a financial benchmark and witnesses the largest open interest in futures profile of CME consists of livestock, dairy and forest products and enables small family farms to large Agri-business to manage their price risks. Trading in CME can be done either through pit trading or electronically.Commodities Traded Butter milk, Diammonium phosphate, Feeder cattle, frozen pork bellies, Lean Hogs, Live cattle, Non-fat Dry Milk, Urea, Urea Ammonium Nitrate, etcChapter 5How Commodity market works?There are two kinds of trades in commodities. The first is the spot trade, in which one pays cash and carries away the goods. The second is futures trade. The underpinning for futures is the warehouse receipt. A person deposits certain amount of say, good X in a ware house and gets a warehouse receipt. Whi ch allows him to ask for physical delivery of the good from the warehouse. But some one trading in commodity futures need not necessarily posses such a receipt to strike a deal. A person can buy or sale a commodity future on an exchange based on his expectation of where the price will go. Futures have something called an expiry date, by when the buyer or seller either closes (square off) his account or give/take delivery of the commodity. The broker maintains an account of all dealing parties in which the daily profit or loss due to changes in the futures price is recorded. Squiring off is done by taking an opposite contract so that the net outstanding is nil.For commodity futures to work, the seller should be able to deposit the commodity at warehouse nearest to him and collect the warehouse receipt. The buyer should be able to take physical delivery at a location of his choice on presenting the warehouse receipt. But at present in India very few warehouses provide delivery for spe cific commodities.Following diagram gives a fair idea about working of the Commodity market.Today Commodity trading system is fully computerized. Traders need not visit a commodity market to speculate. With online commodity trading they could sit in the confines of their home or office and call the shots.The commodity trading system consists of certain prescribed steps or stages as followsI. Trading At this stage the following is the system implemented- Order receiving Execution Matching Reporting Surveillance Price limits Position limitsII. Clearing This stage has following system in place- Matching Registration Clearing Clearing limits Notation Margining Price limits Position limits Clearing house.III. Settlement This stage has following system followed as follows- Marking to market Receipts and payments Reporting Delivery upon expiration or maturity.Chapter 6Investments in CommoditiesHow to invest in a Commodities?With whom investor can transact a business?An investor can tran sact a business with the approved clearing member of previously mentioned Commodity Exchanges. The investor can ask for the details from the Commodity Exchanges about the list of approved members.What is Identity Proof?When investor approaches Clearing Member, the member will ask for identity proof. For which Xerox copy of any one of the following can be givena) PAN card Numberb) Driving Licensec) Vote IDd) PassportWhat statements should be given for Bank Proof?The front page of Bank Pass Book and a canceled cheque of a concerned bank. Otherwise the Bank Statement containing details can be given.What are the particulars to be given for address proof?In order to ascertain the address of investor, the clearing member will insist on Xerox copy of Ration card or the Pass Book/ Bank Statement where the address of investor is given.What are the other forms to be signed by the investor?The clearing member will ask the client to signa) Know your client formb) Risk Discloser DocumentThe abov e things are only procedure in character and the risk involved and only after understanding the business, he wants to transact business.What aspects should be conside

Impact Of Immigration On Australian In Socioeconomic Context Economics Essay

Impact Of Immigration On Australian In Socioeconomic Context Economics EssayThis essay departing explain the economic, environmental and tender impact of immigration on Australia and its persona in the future prospects of the country. Studying the country for the group report and presentation we came across how of the essence(p) argon the hot immigrants as an addition to the fag force of Australia. Immigration is an interesting issue as it touches many argonas of public life economics, demographics and even religion. According to OECD much or less 3% of the concourse in the globe are migrants.Each country and even regions in a specific country experience migration differently. Therefore this essay with the purpose of PESTLE analysis to scan the political-legal, economic and environmental impact and Hofstede Cultural dimensions to explain social attributes, will be a foc employ research on immigration and its effect on the people and the country. The first part gives an ins ide of the history of migration and the early policies adopted by the country. Part 2 goes on to embellish the trends over time concerning the migration policies and laws. Part 3 and 4 deal with the environmental and economic impact of immigration respectively. Finally, the social attitude and how are immigrants treated in todays society will be considered.BackgroundAustralia being a British colony and closely connected with the Empire, concentrated its early migration policies before World war II in keeping the country white accepting into the country only British and Europeans. However, after World War II migration was high in the agenda of politicians with policies being set in accordance with the needs of the country allow to a greater extent non-European consummate immigrants to cover the shortage of labour and expand the manufacturing industry.Their motto was populate or perish and a large wave of immigrants was accepted in the country. The White Australia Policy was aboli shed in 1973 and regardless of origin anyone could become a citizen of Australia being a permanent resident for three years or more. The years to follow will see the policies and laws towards migrants becoming more structured and focused. strong changes took place aided by globalisation and the easier movement of people. Indeed globalisation and the fact that field of study events have international effects is one of the drivers of migration.Immigration policiesWe will analyse the Political and Legal parts (political support and initiative, legislation changes) of PESTLE to evaluate the immigration policies adopted by the establishments. The permanent entry and conditions are conventional by the Australian Government whereas the Department of Immigration and Citizenship is responsible to issue visas under various programs.The size of permanent migration program increased substantially and this is in general the aftermath of the growing focus on skilled workers. The Skill Stream accounts for 64% of the total Migration Program followed by the Family Stream which accounts for 35.7% and finally the Special Eligibility with 0.3%.In 2008 it was announced by the government that the skilled migration will be more demand driven and therefore more responsive to changes in the demand for labour and the needs of the economy. This was to assist industries facing skill shortages mostly in health and engineering sector.As with demand-driven operating models and especially pull models that support the use of resources as soon as the need arises, the Migration Program adapts policies to respond to the countrys needs. Australia had a brain drain problem for many years with highly skilled workers and professional loss the country. It can be argued that that is one of the reasons why the Migration Program is so keen in accepting in the country skilled labour.Actually, legislation changes are do to accommodate the new immigrants, for example the removal of fees for English c ourses. However, concentrating more on the skilled immigrants might be seen as unfair by other categories of migrants as the recent riots have showed at Villawood a detention camp in Sydney.Detainees complained of lengthy waits to have their asylum claims heard. It is argued that those of a genuine need of government safeguard are non treated as it should. As a matter of fact, Immigration Minister Chris Bowen proposed a new law where any asylum quester found guilty of an offence would fail to receive a permanent visa.In terms of return to the country, though, and especially the economy, skilled labour contributes more. The bit of refugees arriving by boat increased substantially and even though the government tries to accommodate them all this is impossible.Impact of immigration on the environmentMoving on to the environs from PESTLE we will consider the give of pollution and attitudes from the government. Most of Australias geographical area is uninhabited with people concen trated in a small number of specific parts of the country and cities. Australia has one of the lowest population densities of all countries with only 2.92 people per square kilometre.Even though it may seem that Australia kingdom area of 7.7 million square kilometres could support a larger population, this is impossible due to the fact that deserts occupy almost 38% of the country generally in the centre and western part. The situation worsened with the recent severe floods in the many states. In Queensland alone 200,000 were affected and a mass excretion took place.Therefore it is obvious that population increases are important to Australia since 75% of the population lives in urban areas with cities like the Australian Capital Territory having the highest population constriction at 152.5 people per square kilometre. A research of the Australian Bureau of Statistics (2010) showed that 54% of the population increase is due to immigrants.The Optimum Population Trust argues that t o subscribe the watercourse standard of leaving the optimum population of Australia is 10 million people and 21 million at the lowest possible living standard. The current kind of population 22.5 million people and the projected figure of 36 million in 2050 are high above the optimum set by the organisation.However, it can be argued that natural resources like oil could sustain population pressures if the people, the government and major companies invest in substitutes and new technologies. As far as global warming and greenhouse gas emission are concern Australia is one of the largest polluter of the world with the CO2 emission reaching the outstanding figure of per capita.This and other environmental externalities like congestion may have a deteriorating effect on the living standards of Australians. Environmental deterioration due to increased migration essential(prenominal) be weighed against economic impacts when considering the future of the country.Impact of immigration on the economyThe Economy from PESTLE analysis seems to be the strongest card of the country. The economic performance of Australia has been rare since the economic crisis. This part will concentrate particularly on the impact the skilled immigrants have on the economy of Australia.Overall, larger population means more labour translating in higher gross domestic product and income. However, how this increase is spread across the population and the impact on living standards are not clear given the aggregate measures of GDP and GNI. If we consider GDP and GNI per capita then these are affected by the productivity of the workers and the participation rate.Skilled immigrants affect the total composition of labour. It is projected in the Commission paper of 2006 that by 2024-2025 and with a modelled 50% increase in the skilled migrants working age share will fall by 0.17% and participation rates will increase by 0.73% due to the cumulative effect of migration.The unemployment rate wil l increase with the years of residency with the cumulative effect of decreasing unemployment rates of new arrivals early in the period begins to outweigh the higher unemployment rates of new arrivals late in the period, and boilersuit the unemployment rate decreases by 0.03% and hours per worker will rise by 0.05 per week. As expected real gross domestic product was projected to be around 4 per cent higher than otherwise.The annual average income per capita was projected to be $383 higher but not equally distributed. Migrants are expected to benefit more from the increase in average income since the incumbent populations average real wages declined by $334, but income from other sources raised, especially from government transfers due to higher substantiating tax revenue, $103 per annum respectively.A higher income per capita means that people will spend more leading to increased tax revenue for the government. The impact of increased skilled labour must by also be considered in t he context of different industries and regions. For example in the western Australia the most important sectors are mine and agriculture which are capital intensive affected mostly by changes in capital stocks rather than labour composition.The immigration increases can address the be and time associated with the training of domestic labour. However, it may substitute domestic income and discourage the human capital investment of the country. The answer is to make the skilled migrants a preen to domestic labour rather than a substitute.Peoples attitude towards immigrationIn order to analyse the social attributes towards immigration the Hofstede Cultural Dimensions will be used in this section. Overall, globalisation made people of Australia today more acceptable of foreigners settling in their country and they are open to the idea of a multicultural society.However, it is evident from the early migration policies discussed on previous section that the government had a discriminat ing approach towards non-British migrants especially those settlers coming from Asia, in an attempt to perceive the national identity. Many have argued that this attitude was a product of fear that as the British had colonised and decimated the aborigines so will a stronger nation do to them.With globalisation, people began to realise that foreigners settling in their country will be a reality for their everyday life. Ethnic communities were formed and foreigners took part in elections as government officials and academics. In the year 2010 the foreign-born population in Australia was 26.4% of the total population compared to the 3.1% of the world average.In a recent survey carried out by the University of Western Sidney 86.6% of the people asked agreed that It is a good thing for a society to be made up of people from different cultures. Nevertheless 80.1% answer for themselves that they are no prejudiced against other cultures but in the question Is there a racial prejudice in Aus tralia 84.4% agreed.According to Hofstedes Cultural Dimensions Australia has the second highest level of individuality of 90 coming behind the United States ranking of 91. Individualism describes the relationships of people and the way the live together. People therefore are expected to take care of only themselves and immediate family maybe that is why Australians may still be suspicious of foreigners. In addition earnings are very important therefore they might feel a threat from the skilled migrants.Critical reflectionThis essay tried to tackle a very complex and substantial issue of Australia. Maybe the analysis would have been more concise if it was concentrated in fewer areas that are affected by immigration. Most of the sources used are from the governments websites but in some parts critics were also evaluated.In addition the presence of International Business Models is not sufficient and more examples of models could have been used. Difficulties were face in the research w hen trying to find the most recent statistical data. More independent sources could have been use and more coherent arguments.The results are nip and tuck and a more detailed research must be carried out to better assess the question of what is the impact of immigration on Australia. The issue of migration must be set in a wider context taking under consideration a greater number of factors and drivers for example consider also the role of emigration.

Strategies for the Analysis of Big Data

Strategies for the Analysis of Big informationCHAPTER 1 INRODUCTIONGeneral daytime by day amount of info generation is increasing in drastic manner. Wherein to describe the data which is in the amount of zetta byte popular term riding habit is Big data. Government, companies and many organizations try to obtain and store data close to their citizens and customers in order to know them better and predict the customer behavior. The astronomic example is of Social networking websites which generate new data each and every second and managing such a huge data is unmatchable of the major ch whollyenges companies argon facing. Disruption is been ca employ due to the huge data which is stored in data warehouses is in a painful format, in order to produce usable information from this raw data, its proper abridgment and processing is to be d iodin. Many of the tools are in progress to handle such a large amount of data in short time. Apache Hadoop is one of the java based programming framework used for processing large data sets in distributed computer environment. Hadoop is useful and beingness used in types of brass where multiple leaf nodes are present which can process terabytes of data. Hadoop uses its own register system HDFS which facilitates fast transfer of data which can stick node failure and avoid system failure as whole. Hadoop uses defend sink algorithm which breaks down the big data into smaller part and realizes the trading operations on it. Various technologies will come in hand-in-hand to accomplish this task such as Spring Hadoop Data Framework for the basic foundations and running of the Map-Reduce jobs, Apache sensation for distributed building of the code, REST Web services for the communication, and lastly Apache Hadoop for distributed processing of the huge dataset.Literature SurveyThere are many of analytic thinking techniques but six-spot types of summary we should know areDescriptive preliminaryInferentialPredictiveCausal mechanicalDescriptiveDescriptive summary technique is use for statistical calculation. It is use for large volume of data set. In this analysis technique whole use for univariate and binary analysis. It is only explain for what, who, when, where not a caused. limit point of descriptive analysis technique it cannot help to find what causes a finicky inspiration, dischargeance and amount. This type of technique is use for only Observation and Surveys.ExploratoryExploratory means investigation of any puzzle or case which is provides approaching of re calculate. The research meant provide a small amount of information. It may use transmutation of method like interview cluster conversation and testing which is use for gaining information. In particular technique useful for defining proximo studies and question. Why future studies because exploratory technique we use old data set.InferentialInferential data analysis technique is allowed to study sample and make simplification of macrocosm data set. It can be used for trial speculation and important part of technical research. Statistics are used for descriptive technique and effect of independent or reliant variable. In this technique show some error because we not scram accurate sampling data.PredictivePredictive analysis it is one of the most important technique it can be used for slushy analysis and depend on predictive molding. It is very hard mainly close future references. We can use that technique for likelihood some more companies are use this technique like a Yahoo, EBay and Amazon this all family are provide a publically data set we can use and perform investigation. Twitter also provides data set and we separated affirmative negative and neutral category.CausalCasual meant incidental we determine key point of given casual and effect of correlation between variables. Casual analysis use in market for profound analysis. We can used in selling price of product and various parameter like opposit ion and essential features etc. This type of technique use only in experimental and simulation based simulation means we can use mathematical original and related to significant existence scenario. So we can say that in casual technique depend on unity variable and effect of activities result.MechanisticLast and most stiff analysis technique. Why it is stiff because it is used in a biological purpose such study about kind physiology and expand our knowledge of human infection. In this technique we use to biological data set for analysis after perform investigation that give a result of human infection.CHAPTER 2 AREA OF WORKHadoop framework is used by many big companies like GOOGLE, IBM, YAHOOfor finishings such as search locomotive in India only one company use Hadoop that is Adhar scheme.2.1 Apache Hadoop goes realtime at Facebook.At Facebook used to Hadoop echo system it is combination of HDFS and Map Reduce. HDFS is Hadoop distributed deposit system and Map Reduce is scrip t of any language like a java, php, and python and so on. This are two components of Hadoop HDFS used for storage and Map Reduce honest reduce to immense program in simple form. Why facebook is used because Hadoop response time fast and high latency. In facebook millions of user online at a time if suppose they share a single server so it is work load is high then faced a many problem like server crash and down so tolerate that type of problem facebook use Hadoop framework. First big advantage in Hadoop it is used distributed burden system thats help for achieve fast access time. Facbook require very high throughput and large storage disk. The large amount of data is being read and written from the disk sequentially, for these workloads. Facebook data is unstructured date we cant manage in row and column so it is used distributed rouse away system. In distributed file system data access time fast and recovery of data is good because one disk (Data node) goes to down other one i s work so we can easily access data what we want. Facebook generate a huge amount of data not only data it is real time data which change in micro second. Hadoop is managed data and mining of the data. Facebook is used new generation of storage and Mysql is good for read performance, but experience from low written throughput and the other hand Hadoop is fast read or write operation.2.2. Yelp uses AWS and HadoopYelp originally depended upon to store their logs, along with a single node local instance of Hadoop. When Yelp made the giant RAIDs Redundant Array Of Independent disk move Amazon Elastic Map Reduce, they replaced the (Amazon S3) and today transferred all Hadoop The company also uses Amazon jobs to Amazon Elastic Map Reduce. Yelp uses Amazon S3 to store daily huge amount of logs and photos,. Elastic Map Reduce to power approximately 30 separate batch RAIDs with Amazon Simple Storage Service scripts, most of those generating around 10GB of logs per hour processing the logs. Features supply by Amazon Elastic Map Reduce includePeople Who Viewed this Also ViewedReview highlightsAuto complete as you type on searchSearch spelling suggestionsTop searchesAdsYelp uses Map Reduce. You can break down a big job into little pieces Map Reduce is about the simplest way. Basically, mappers read lines of input, and spit out key. Each key and all of its corresponding values are sent to a reducer.CHAPTER 3 THE PROPOSED SCHEMESWe overcome the problem of analysis of big data employ Apache Hadoop. The processing is done in some steps which include creating a server of required configuration victimization Apache hadoop on single node cluster. Data on the cluster is stored using Mongo DB which stores data in the form of key value pairs which is advantage over comparative database for managing large amount of data. Various languages like python ,java ,php allows writing scripts for stored data from hive awayions on the chirp in Mongo DB then after stored data export to json, csv and txt file which then can be processed in Hadoop as per users requirement. Hadoop jobs are written in framework this jobs implement Map Reduce program for data processing. Six jobs are implemented data processing in a location based social networking application. The record of the whole posing has to be maintained in log file using aspect programming in python. The output produced after data processing in the hadoop job, has to be exported back to the database. The old values to the database devour to be updated immediately after processing, to avoid loss of valuable data. The whole process is automated by using python scripts and tasks written in tool for executing JAR files.CHAPTER 4 METHOD AND MATERIAL4.1INSTALL HADOOP FRAMWORKInstall and configure Hadoop framework after installation we perform operation using Map Reduce and the Hadoop Distributed File System.4.1.1 Supported PlatformsLinux LTS(12.4) it is a open source operating system hadoop is support many platfor ms but Linux is outflank one.Win32/64 Hadoop support both type of platform 32bit or 64 bit win32 is not chains assembly platforms.4.1.2 Required SoftwareAny edition of JDK (JAVA)Secure shell (SSH) local host installed which is use for data communication.Mongo DB (Database)These requirements are Linux system.4.1.4Prepare the Hadoop ClusterExtract the downloaded Hadoop file (hadoop-0.23.10). In the allocation, edit the file csbin/hadoop-envsh and set environment variable of JAVA and HAdoop.Try the following command $ sbin/hadoop Three types of mode existing in Hadoop cluster.Local Standalone directionPseudo Distributed elbow roomFully Distributed ModeLocal Standalone ModeLocal standalone mode in this mode we install only normal mode Hadoop is configure to run on not distributed mode.Pseudo-Distributed ModeHadoop is run on single node cluster I am perform that operation and configure to hadoop on single node cluster and hadoop demons run on separate java process.Configurationwe can change some files and configure Hadoop. Files are core.xml, mapreduce.xml and hdfs.xml all these files change and run Hadoop.Fully-Distributed ModeIn this mode setting up fully-distributed mode non trivial cluster.4.2Data CollectionThe twitter data anthology program captures three attribute.1) User id2) Twitter user (who sent Tweet)3) Twitter textThe Twitter Id is used to extract tweets sent to the specified id. In our analysis we collect the tweets sent to sachin tendulkar. We used Twitter APIs, to collect tweets sent to Sachin. The arrangement of the Twitter data that is composed. The key attributes Which we mine are User id, Tweet text and Tweet User (who sent Tweet) save all key attribute in Mongo DB .Mongo DB is database where al tweet is saved. After collecting all data we export to csv and text file this file is use for analysis.Fig. 1. Twitter data collection procedureExtracting twitter data using pythonIn this python code firstly create developer account then we get a consu mer key, consumer secret, access token and access token secret this are important for twitter api using that key we find all tweets. Initialize a connection to the Mongo DB instance connectivity to Data Base in this code tweet db is data base name mongo db support to collection.show dbsThat praise we see all database those are present in mongo db.use Data Base nameSelect particular data base we use.dbDb command use to which data base is open.show collectionThis command shows all collection. It means show all table.db.tweet.find ()Use to show all data store in particular data base.db.tweet.find ().count ()Use to that command how much tweet store in your data base.CHAPTER 5 SENTIMENTAL ANALYSIS OFBIG DATALast and foremost as well as most important part of data analysis is extracting twitters data. Supervised and un administer techniques are types of techniques that are used for analysis of Big data. Sentimental analysis has come to play a key role in text mining application for custo mer relationship, injury and product position, consumer attitude detection and market research. In recent advance there is several promising new direction for developing and advance sentimental analysis research. Sentimental mixture identify whether the semantic direction of the given text is optimistic, pessimistic or unbiased. Most of open approach relies on supervised learning models they classified positive and negative option only. Three ways of machine learning techniques Nave Bayes, SVM and Maximum Entropy Taxonomy do not perform well on sentimental classification. Sentimental analysis techniques may help researchers to study on the Internet. They would help to find out whether a given text is subjective or objective as well as whether a subjective passage contains optimistic or pessimistic opinions. Supervised Machine knowledge techniques use class documents for classification. The machine learning approach treat the opinion classification problem as a topic based content classification problems. Comparison between Nave Bayes, Maximum Entropy and SVM for sentimental classification, they achieve best precision using SVM.CHAPTER 6 SCREENSHOTBrowser viewThis view only use for browser view that show log file of data node and name node.Hadoop cluster onIn this screenshot show on data node name node that means properly install and configure single node hadoop cluster.Data base viewIn this screenshot we extract twitter data and store Mongo DB. Mongo DB is a data base where all tweets are stored.How many Tweets store in Data BaseCHAPTER 7 CONCLUSIONSWe have urbanized an architecture that uses PYTHON and Mongo DB in amalgamation with Twitter APIs to study tweets sent to the specific user. We use our architecture to get the positive, negative and neutral, analysis the number of re tweets and the name and Id of the users sending the tweets. Finding all data we analysis them can be used in conjunction with available results on queuing theory, to study the tempo rary and stable state performance of social networks. The proposed architecture can be used for a monitor correlation among user behaviors and their locations. The application of obtain outcome to study the development of population in under research. In sentimental analysis mining on large datasets using a Nave Bayes classifier with the Hadoop echo system. We configure Hadoop in single node cluster and we also provide how to fetch or extracting twitter data using any language of api but in Hadoop cluster file system can do decent job even in the Big Data analysis domain.

Genetically Engineered Crops: The Benefits Outweigh the Risks Essay

In order to understand the controversy of genetically engineered crops one must understand what genetic plan or genetic modification is GMO are organisms that are generated by combining genes of different species using recombinant DNA (rDNA) technology. Resulting organisms are then said to be transgenic, genetically engineered or genetically modified (GM). This group of organisms includes... plants. (Celec et al., 2005)The genetic modification of crops and plants was created so that crops could, ... protect themselves against insects and disease, to feed and vaccinate people at the same time, to flourish in poor soil and drought, or to improve the quantity and bioavailability of individual nutrients. (Roberts, Struble, McCullum-Gomez, Wilkins, 2006). These benefits may seem to outweigh the risks and in reality they do, however this does non mean the consumer should not be notified of the risks they are taking. The hallmark of our free society demands that the consumer be able to c hoose whether or not they want to eat something that may have wellness risks product labeling that identifies GMO ingredients allows for consumers to choose a particular product while ensuring that the producer feel more at ease with the way they disclose information and advertise their product.Genetically engineered crops have many risks ranging from mild to serious. The risks of food allergy is one more serious factor. There are risks not only from the parent crop, moreover in addition the new transgenic product can be an allergen. (Celec et al., 2005) The risk of food allergens from genetic engineering is evident in this case with Brazil daft and soy beans. In this case genetically modified soy beans had been given a protein from Brazil nut... ...baseEhrenfreund, M., Wheat With Engineered Gene Demonstrates Challenges for Researchers. (2013,May). Retrieved November 14, 2013, from www.washingtonpost.comGuidance for Industry Voluntary Labeling Indicating Whether Foods postulate or Have Not Been Developed Using Bioengineering Draft Guidance, (2013, August). Retrieved November 15, 2013, from www.fda.govKaya, I. H. (2012). Genetically modified crops and human health. Journal of Animal and Veterinary Advances, 11(19), 3613-3617. Retrieved November 20, 2013, from Medwell Journals database.Roberts, K. S., Struble, M. B., McCullum-Gomez, C., Wilkins J. L. (2006). Use of a risk communication model to evaluate dietetics professionals viewpoints on genetically engineered foods and crops. Journal of the American Dietetic Association, 106(5), 719-727. Retrieved November 15, 2013, from ScienceDirect database.

Central Conflict, Climax and Resolution in Hawthornes Young Goodman Br

The Central Conflict, Climax and Resolution in Young Goodman Brown This attempt will analyze Nathaniel Hawthornes Young Goodman Brown to determine the central conflict in the tale, its climax and partial resolution, using the essays of literary critics to help in this interpretation. In my opinion, the central conflict in the tale is an internal one - the conflict in Goodman Brown between joining the ranks of the d aversion and remaining good, and the concomitant of this conflict to the world at large represented by the villagers of capital of Oregon. It is a difficult personal journey for Young Goodman Brown, a young Puritan resident of Salem, Massachusetts, in the 1600s to say goodbye to Faith on that fateful night and to keep a prior commitment made with an evil denotation (the devil) in the woods. As he travels through the forest to fulfill his personal desire to experience evil, to indulge in devil-worship, to become a witch - whatsoever this strange nocturnal affair migh t involve, all the while he is repeatedly thinking about the good things he is leaving behind at church, at home (his wife Faith), and at Salem village. This internal conflict ultimately destroys the Young Goodman Brown who existed prior to the visit to the woods, and creates a new, cynical, faith-less man of gloomy, leery disposition. This interpretation of the central conflict differs from that offered by Terence Martin in Nathaniel Hawthorne His journey into the forest is best defined as a kind of general, indeterminate my italics allegory, representing mans irrational drive to leave faith, home, and security temporarily behind, for whatever individual reason, and to take a chance with one more errand onto the wilder s... ...sts to Faith and to Salem to the extent that he is able to live with both, he nevertheless has lost the inner peace and innocence he possessed prior to the intrusion of evil into his life. WORKS CITED Hawthorne and His Mosses. The Norton Anthology Americ an Literature, edited by Baym et al. New York W.W. Norton and Co., 1995. Hawthorne, Nathaniel. The Complete Short Stories of Nathaniel Hawthorne. New York Doubleday and Co., Inc.,1959. 247-56. James, Henry. Hawthorne. Ithaca, NY Cornell University Press, 1997. Martin, Terence. Nathaniel Hawthorne. New York Twayne Publishers Inc., 1965. Nathaniel Hawthorne. The Norton Anthology American Literature, edited by Baym et al. New York W.W. Norton and Co., 1995. Wagenknecht, Edward. Nathaniel Hawthorne The Man, His Tales and Romances. New York Continuum publish Co., 1989.