Spooks (MI-5) Complete Seasons 1-7 Dvd Boxset

Spooks is a BAFTA award-winning British television drama series produced by the independent production company Kudos for BBC One. The title is a popular colloquialism for spies, as the series follows the work of a group of MI5 Officers based at the service’s Thames House headquarters, in a highly secure suite of offices known as The Grid. In the United States and France, the show is broadcast under the title MI-5. In Canada, the programme originally aired as MI5 but now airs on BBC Canada as Spooks.

The programme was created by writer David Wolstencroft and has attracted popular guest actors including Hugh Laurie, Robert Hardy, Tim McInnerny, Bruce Payne, Ian McDiarmid, Jimi Mistry, Andy Serkis, Andrew Tiernan, Anton Lesser, Anupam Kher, Alexander Siddig and Anthony Head.

A team of agents in the British security intelligence service work to protect the U.K. from terrorists and other threats to national security. A repackaged version of the BBC series “Spooks,” “MI-5” follows a team led by Tom Quinn that includes analyst/undercover operative Zoe Reynolds and surveillance expert Danny Hunter. Harry Pearce, head of MI-5’s counter-terrorism section, oversees them and deals with the often dirty politics of the spy game.

Starring Matthew Macfadyen, Keeley Hawes, David Oyelowo, Jenny Agutter, and Peter Firth, the initial series of six one-hour episodes premiered in the spring of 2002.

The series was a critical and popular success, averaging 7.5 million viewers over its six episodes, due to its combination of glossy high production values with fast-paced action/adventure and spy intrigue storylines.

The show quickly gained an unexpected edge with the violent killing of character Helen Flynn (Lisa Faulkner) in the second episode which drew the largest number of complaints to the Broadcasting Standards Commission in 2002 During an undercover operation Helen and Tom were captured by race riot instigator Robert Osborne, played by Kevin McNally, who tortured Helen with a deep fryer in an attempt to make her superior Tom reveal classified information. He refused and she was killed. This provoked an angry reaction from many viewers who jammed BBC phone switchboards with complaints, despite the show airing after the 9 pm watershed. Nevertheless the death of Faulkner’s character set the precedent that in Spooks anyone can die at any time.

Brand New and Sealed, High Definition,

Seasons: Complete seasons 1 2 3 4 5 6 7
Region FREE. Will play on any DVD player.
Audio: English.
Subtitle: English.
Number of Discs31
Weight:1.5 KG

please check more info at http://www.okbuydvd.com/Spooks-(MI-5)-Complete-Seasons-1-7-Dvd-Boxset-1260.html

Source: lindaQ
mi 6 price

Interesting Black Berry Storm 9500 Black Mobile

Black Berry Storm 9500 Black is not just the first touch screen Blackberry device, but it is RIM’s first product that lacks a physical keyboard. For business people, who are the main target of the smartphones, this might sound weird. However, to replace this deficiency, RIM has introduced a new innovative technology called Sure Press. Patented by RIM, the Sure Press technology makes the physical screen to react like a button when pressed. The display also provides a hepatic feedback, which means that you will not feel the difference between a physical and a virtual keyboard, on screen. However, we could not overlook the sense of insecurity that I had when I pressed the touch screen. It seems that it is well embedded in the body casing, and moving to each press. Moreover, the first time I held the phone in my hand, I thought that the device has a great defect, since the screen is 2mm shorter than its frame. A thin foil protects the touch screen, so the number of fingerprints is limited.  The device appears to have been built very solid, can be held very well in hand, but is heavier than I have expected (155g including the battery). Entirely made from metal, its back case is the main reason that the phone is so heavy. However, Storm 9500 is not even a big phone compared with the HTC Touch HD, or even iPhone 3G, and measures 112.5 x 62.2 x 14mm.

As I mentioned above, Black Berry Storm 9500 Black is the first device that has a capacitive touch screen. It measures 3.25 inches and displays 65 000 colors and a resolution of 360×480 pixels. The capacitive touch screen eliminates the need to use a stylus, and is resistant to scratches. BlackBerry Storm 9500 Black includes the Sure Press innovative technology, a technology patented by RIM (Research in Motion), which offers a hepatic feedback. This screen allows the user to navigate through the phone menus, using the fingers, similar to a computer’s mouse. To select an option simply click on the screen surface. If you wish to start the selected application, you only have to click it again. These displays have the ability to adjust the screen settings, so double click can be used as a method of selection and navigation through the phone menu.

The BlackBerry Storm 9500 Black 3.2-megapixel photo / video camera presents characteristics like autofocus and flash LED. Unfortunately, the camera interface is missing almost completely. The only way to adjust some settings is to click the Menu button after you open the camera function. However, the camera includes some interesting features for photo fans: geo-tagging and image stabilizer. The maximum image resolution is 2048×1536 pixels, but it can be reduced to save storage space. The only other camera settings are colors, and picture quality. Shooting photos with the Black Berry Storm 9500’s 3.2 megapixel camera is quite difficult, as the preview image on the screen is covered at the bottom with a band, which has some settings. This makes the framing of the picture to be quite difficult. Otherwise, I found the quality of the pictures to be quite good. Even if this camera is not one of the best, the quality of the pictures is certainly above average. The color and the contrast look good, while the noise is kept to a decent level. Videos can also be recorded in QVGA resolution at 30fps, but the quality is lower than I expected, so it is not recommended to use the smartphone for recording clips. Overall, I think Black Berry Storm 9500 includes a camera, which is good enough for a smartphone that has as a target the business segment, a camera, which I am sure that it will meet the needs of this phone’s users. For more details visit www.phoneandbeyond.com

Source: Different Name

Compare Jawbone PRIME Bluetooth headset prices

Aliph are the company behind the award winning Jawbone Bluetooth headsets and are regarded as the best in the business. Yet again they have exceeded themselves with the release of the Jawbone PRIME Bluetooth headset with the latest NoiseAssasin 2.0 technology.

The Jawbone range of Bluetooth headsets have always been well known for their rich call quality and removal of background noise. With the Jawbone PRIME Bluetooth headset, ambient noise has been further reduced by 6-9db.

On the back of the headset, is a Voice Activity Sensor (VAS) that increases the performance of the NoiseAssasin 2.0 noise reduction technology. An Acoustic Voice Activity Detector is also used when the VAS is not in contact with your face. This specifically focuses on the acoustics of a human voice to enrich call quality.

There are 2 microphones present in the Jawbone PRIME used to compare 2 samples of your voice, these are digitally combined by the headset to help define your voice. The sound is passed through an all new Digital Signal Processor (DSP) to remove noise caused from windy conditions.

If you have more than one handset, the Jawbone PRIME Bluetooth headset can connect to them both simultaneously and automatically switches between phones when calls are made/recieved.

Although the Jawbone PRIME is targetted for business use, it is the ideal headset for anyone who is on the move, in busy environment or exploring the great outdoors. Background noise and interference is a thing of the past, so you can communicate clearly. The Jawbone PRIME Bluetooth headset is head and shoulders above the competition, you may never buy another Bluetooth headset in your life time.

Jawbone PRIME Bluetooth Headset Specification

*Weighs just 10g
*Talk Time: 4.5 Hours
*Standby: 8+ days
*Takes 35 minutes to charge battery to 80%
*100% charge in 1 hour

Source: Otto Rodriquez
mi price

Diy – Timber Frame Home Plans

DIY Home Plan Builders

Around 20 thousand self constructors create their very own homes every year. All of them get various experiences, a number of great plus some poor. To not have the particular negative experiences you will need to take the following techniques:

1. Phase one.

Get ready your finances.

The has been proven as the single important factor in any undertaking also it ‘s nearly consistently the actual root cause of considerable hardship as well as distress. Pertaining to two causes, 1 the actual funding is generally still left until after the location has been procured and also blueprints are drafted. This causes hardship since you want to fit your own budget around the ideal residence. Apologies folks nonetheless it fails like that. You’ll want to understand how much it is possible to sensibly manage after which fit your dream residential home into the finances.

The 2nd good reason is that by simply trying to fit your finances around your dream residential home you are running the particular threat associated with going over-budget. This then forces you to remortgage which inturn places extra strain on your own investment.

Prior to deciding to actually search for property you have to determine what you are able to manage to invest. This need to incorporate all of the following; Land acquitsition, Licensed costs, NIE and Water connection charges, Building prices, Inner accessories & fittings, Painting & Adorning, Landscaping design services, 15% crisis contingency account (should be 15% of one’s entire budget). Nonetheless you won’t yet understand what a lot of your costs shall be just yet so almost all you will be able to sort out during this period is a major amount.

Lets say that that figure was £350,000. Next you’ll want to search for a mortgage supplier and also have the actual finance set up. This can be especially important if you’d like capital counselling in order to acquire the acreage.

2. Step 2.

Come up with your own basic expenditures.

This is when you get an elementary grip with the figures. First points first. Why don’t we detract the 15% contingency account. That is 15% of £350,000 = £52,Five hundred. Therefore you can open up a separate payment account and put that capital securely apart and ignore this for this moment.

Executed that? Fine, allows proceed.

There are a lot of things for which, you simply must get a really feel for the sourcing cost of, like for example , to the following;

Land purchase price, Construction expenses for each sq foot or Metre squared depending on that system of measurement you happen to be most knowledgeable about. Interior fixtures and fittings, Landscape designs as well as expert costs which might consist of the majority of the following, Estate broker, Solicitor, Architect, Engineer, General Contractor, Water as well as Utility connection costs.

Ok and so whats after that?.

The next issue you’ll want to perform is to determine just what you desire to construct. Is it a retirement log cabin, a massive mountain handcrafted log home plan retreat? A new colossal sized timber frame mansion perhaps? Possibly a reasonable sized 2 story house with an exposed downstairs room? It can be right here that your imaginative and prescient vision of a fantasy home typically clashes horribly with the financial actuality. Nevertheless better right now compared to later on.

Construction expenses differ through location to region but it averages out and about from about £80 per sq ft. A great dynamic and pro-active do it yourself builder is going to be able to beat this particular amount simply by a lot, nevertheless for the majority of us the actual number of £80 will be precise enough.

So what does this mean? Well why don’t we presume that you will construct a 2000 sq ft family timber frame home.

This might equate to around £160,Thousand to finish the actual building cost. This amount includes with regard to many professional and connection service fees and assumes for the moderate selection of fixtures and fittings.

Therefore if you take your primary spending budget of £350,Thousand minus 15% catastrophe account £52,500 = ££297,500 after which take away your own approximated construction expenditures of £160,Thousand this also will leave one with £137,500 with the objective associated with land purchase.

Thus now you recognize a couple of things. One, the price of your brand-new residence can not exceed £160,000 and two, the price of property can not exceed £137,Five hundred. You can’t apply this contingency account. That’s pertaining to emergencies only.

Step 3

Building a building spending budget.

Lets consider which by this phase you have secured your current investment a purchased your plot of land. Let us consider that it cost you even more than hoped for, which happens to be a normal incident. Allow us to call the number £150,Thousand. Of which straight away places you £12,Five hundred over spending budget.

At this time you should get log vacation cabin plans drafted. Make certain your Architect or designer has learned exactly what the budget is. Remember it’s £160,Thousand and help it become apparent which you cannot afford to go more than this amount. You need to be extremely tight with your numbers and close down promptly on whatever in which threatens to drive the actual figures upwards.

The best way to manage this really is with an excel spreadsheet. Record every purchase that one could dream of. Every work rate, each and every components expense, every professional charge, the actual list proceeds. Once you have with this format it is possible to very easily see the bottom line.

Obtain a minimum of 6 offers with regard to every thing. Purchase your current supplies in bulk from the constructors vendor in order to get the best reductions. It is going to be a lot more beneficial to purchase the many supplies directly and get the discounts instead of through a General Contractor(West Bend Green Home Builder) where you could well be billed full rate plus a 2 1/2 % managing charge as well.

Create spreadsheets with the following titles; Overall Cost Summary, Trade Cost Summary, Labor only summary, Basic Materials Summary, Foundations & Groundwork, Superstructure, Plastering, Plumbing related, Electrical, Roofing, Energy Efficient Systems, Features & Fittings, Painting & Decorating, Landscaping.

After you have all this completed, you are able to go and obtain estimates and charges. Be pro-active regarding searching around for the best price. record all modifications and a person will not go significantly wrong. Once you have your own numbers with this structure it is possible to manage your own spending as it is possible to determine exactly where you stand in relation to the construction process.

Constructing your own home can be a very costly procedure, each monetarily as well as emotionally and yes it is in your own interest to just be sure you don’t go over allowance. Finding the time to figure out your finances as well as budget and then sticking to this, will ensure that you can come through the actual DIY building process relatively unscathed.

Thank you –

www.LogVillas.com – Luxury Timber Frame Home Plans}

Source: LogVilla Villaatthesea
mi 6 price

Push Email To Your Blackberry

If you are a BlackBerry user, then you definitely wish to have Email synchronization on your phone. But sometimes the process may seem difficult to new BlackBerry users and those who are unfamiliar with Email synchronization. Do you know that you can push Email to your BlackBerry by adding Email accounts to integrate with the device?

Well if you want you can add POP3 Email such as Gmail and work Email such as your corporate Outlook account. When you will set up and add the Email client, your BlackBerry will automatically begin to push your Email. Just follow these simple steps and remember that this will not affect your PC Health.

  • Firstly just press the “Menu” button on the main screen of the BlackBerry. Now just roll the trackball down and click on the “Settings” icon.
  • Secondly try to scroll to and select “Manage Internet Email.” Now just click on the option that says “Email Accounts.”
  • Thirdly you have to navigate to the selection for “Add An Email Account” and press the trackball down. After this, just scroll to the “Email Address” field.
  • Fourthly you have to type in the Email address that you want to push to the BlackBerry. Now you have to scroll to the “Password” box and press the trackball. Remember that you have to type in your password and then click the option for “Next.”
  • Sixthly, always remember that for your personal Email, scroll to the “Email server” field, type in the Email server address for the ISP and enter your Email username. If you want for work Email, scroll to the “Outlook Web Access URL,” type in the address for your Microsoft Outlook account and then enter the “Account Name.”
  • Seventhly just scroll down to the “Use SSL” to enable the Secure Sockets Layer encryption if your email supports it. Now you just have to scroll to and select the option for “Next.”
  • Eighthly just try to make sure that a confirmation screen opens when the process is complete and click “OK.” Remember that you have to verify that you now have Email pushed to your BlackBerry by sending an Email to yourself from your account. Lastly you can now click the “Messages” icon from the main screen to see new Emails.

Do you know that you can even add your Yahoo Email account to your BlackBerry curve? Well you can easily take advantage of all the wonderful things which your BlackBerry can do and add your Yahoo Email account. Always remember that when you set-up your BlackBerry to receive your Emails from your Yahoo account, you do not have to log on to a computer to check your Email again. You can easily send and receive Emails from your Yahoo account while you are on the go.

Firstly just highlight and open the “Settings” folder. Secondly just highlight and click on “Manage Internet Email”. Now you have to highlight and click on “Add My Existing Email Account”. Remember that you have to enter your Yahoo Email address in the box provided. Try to enter your password for your Yahoo Email account in the password box. Now you have to highlight and click on the “next” button.

Lastly just remember that when you will receive a confirmation page and you are done. It will just take a few minutes for all your data to link up but it will happen automatically. All these above steps will not affect your PC Health.

Source: Susan Brown

Xiaomi will unveil a new monster 6.4" Mi Max 2 phone with a 5,000mAh battery

Chinese phone maker Xiaomi builds some great phones that offer excellent value for the money. Take its latest Xiaomi Mi 6 flagship, a stylish glass-and-metal phone with the Snapdargon 835 system chip of the Galaxy S8 and a dual camera with a telephoto lens similar to the one on the iPhone 7 Plus that sells for just $360 (2,500 yuan) in China. Unfortunately, it’s only sold in Asian markets.
Now, Xiaomi is ready to announce a new phone that will be a true joy for lovers of big, phablet phones: the new Mi Max 2. The phone will come equipped with …

Strategy for buying and selling houses – Sterling Heights, MI Real Estate

Currently, the average price in Sterling Heights, MI, real estate in the home is $ 187,000. Now for Sterling Heights in Michigan real estate from $ 54,500 for their two-bedroom house with $ 499,900 for brick colonial on a premium price of the wooded lot with creek access.

If you are interested in buying Sterling Heights, MI real estate, but have past credit issues or little established credit, you may think you are not at home because the lender will not give you mortgage loan.

But you are wrong, because home ownership can still be achieved with a little knowledge.

If you already have a Sterling Heights, Michigan real estate, but they need to sell your house quickly, because transfer of labor to prevent the closure or for other reasons, you also have the options you may be familiar.

Here we have gathered about Sterling Heights, MI real estate information and describe strategies that troubled sellers or buyers expect you might want to consider.

Facts and Figures

Located in Macomb County, the figures collected in 2000 Census data shows that it is the fourth largest city in Michigan by population, which was 124,471 at the time. The city occupies 36.7 square kilometers in area, north of Warren, and less than 40 minutes northeast of downtown Detroit.

The town was incorporated in 1968. By the time he was known as the town of Sterling, the word “Heights” was added to avoid confusion with a small village named Sterling Arenac County. 2006 Money magazine listed him as one of the best small town living

There are currently more than 600 homes Sterling Heights, MI real estate listings, so if you want to live in one of the best small towns in the country, you should have no trouble finding something that appeals to you. If you need more reasons to look into Sterling Heights, Michigan real estate offices, see below.

Safety and economy

Among cities with populations greater than 100,000, Sterling Heights is 16. The safest city in the country and the safest in Michigan, according to Morgan Quitno Press. City safety is determined to work hard to do a good job the police department and an active community watch network.

American City Business Journals lists as one of the least economically stressed cities in the United States of America. According to the journal, only one major city in Michigan and six other countries are “less stressed”. Economic diversity and large industrial companies such as Daimler Chrysler, Visteon, and General Dynamics to lend to the economic well-being of the city and to attract potential buyers Sterling Heights, MI real estate market.

Sterling Heights was ranked by the Ladies Home Journal as the second best Michigan city and 16 women working in the best city in the country. The average income for women is quite a bit higher than in many other cities. In 2000, the average income per family was $ 70,000, which is much higher than most Michigan cities. The city was given the + and high-level one “family friendly” cities in suburban DC Population Connection, a nonprofit organization.

Shopping, food and other retail businesses in Sterling Heights, Michigan full of real estate picture. Lakeside Mall, with more than 180 stores is one of the largest malls in the Metro Detroit area. In total, 3,500 companies are located within the city limits.

Buying and selling

With everything, Sterling Heights, MI real estate market has to offer, you may find that selling is easy. However, there are currently almost 400 properties classified as an accredited MLS listings Sterling Heights, Michigan real estate market. MLS listings national database of available properties.

Foreclosures are properties that have reverted to the lender payment. In many cases, real estate companies to buy these properties at auction and try to sell them. City and county governments may also take over the properties of non-payment of taxes. Until now it was the other Michigan cities problem, since the property went back to the city, they could not “do” anything with them.

If you won the Sterling Heights real estate, but bruised credit and can not get a bank loan, then your main option is to find a vendor willing to work under such conditions. What are the conditions? Well the best is what is called a lease option (also known as “rent to own) or buy the land contract.

Own a bike is the most effective tool for as long as you have a job and brings in revenue and remain consistent to their financial limits are vendors who will work this time, and you buy your home. This will give you time to repair your credit, you can get a bank loan, and you are living at home and then cash the seller out of the house and buy it.

In short, the rental contract allows the purchase of own home with no bank qualifying / or funding the loan advance.

If you already have a Sterling Heights MI real estate, but they need to sell your house quickly, how to sell your home is to offer seller financing – but what do you do when you sell or rent its own land-based contract. You can actually open their homes to a much larger segment of the home buying market by offering seller financing, because there are many people who want to buy a home you can afford it, but can not get a bank mortgage loan in advance as a credit score.

Source: vjkmar
mi price




Derivatives trading began in 1865when the Chicago Board of Trade (CBOT) listed the first “exchange traded” derivatives contract in the USA. These contracts were called “futures contracts“. In 1919, the Chicago Butter and Egg Board, a spin-off of CBOT, was reorganized to allow futures trading. Its name was changed to Chicago Mercantile Exchange (CME).The first stock index futures contract was traded at Kansas City Board of Trade. Currently the most popular stock index futures contract in the world is based on the Standard & Poor’s 500 Index traded on the CME. In April 1973, the Chicago Board of Options Exchangewas set up specifically for the purpose of trading in options. The market for options developed so rapidly that by early 80s the number of shares underlying the option contract sold each day exceeded the daily volume of shares traded on the New York Stock Exchange. And there has been no looking back ever since.

 Derivatives in India

 The word ‘derivative’ originates from mathematics and refers to a variable, which has been derived from another variable. Derivatives are so called because they have no value of their own. They derive their value from the value of some other asset, which is known as the underlying.

“Derivatives are specialized contracts which signify an agreement or an option to buy or sell the underlying asset of the derivate up to a certain time in the future at a prearranged price, the exercise price.”

The contract also has a fixed expiry period mostly in the range of 3 to 12 months from the date of commencement of the contract. The value of the contract depends on the expiry period and also on the price of the underlying asset. There are many types of financial instruments that are grouped under the term derivatives, but options/futures and swaps are among the most common. Options or futures are different kinds of contracts where one party agrees to pay a fee to another for the right to buy or sell something to the other.

Derivatives markets have been in existence in India in some form or other for a long time. In the area of commodities, the Bombay Cotton Trade Association started futures trading in 1875 and, by the early 1900s India had one of the world’s largest futures industries. In 1952 the government banned cash settlement and options trading and derivatives trading shifted to informal forwards markets. In recent years, government policy has changed, allowing for an increased role for market-based pricing and less suspicion of derivatives trading. The ban on futures trading of many commodities was lifted starting in the early 2000s, and national electronic commodity exchanges were created.

In the equity markets, a system of trading called “badla” involving some elements of forwards trading had been in existence for decades.6 However, the system led to a number of undesirable practices and it was prohibited off and on till the Securities and Exchange Board of India (SEBI) banned it for good in 2001. A series of reforms of the stock market between 1993 and 1996 paved the way for the development of exchange-traded equity derivatives markets in India. In 1993, the government created the NSE in collaboration with state-owned financial institutions. NSE improved the efficiency and transparency of the stock markets by offering a fully automated screen-based trading system and real-time price dissemination. In 1995, a prohibition on trading options was lifted. In 1996, the NSE sent a proposal to SEBI for listing exchange-traded derivatives.

The economic liberalization of the early nineties facilitated the introduction of derivatives based on interest rates and foreign exchange. A system of market-determined exchange rates was adopted by India in March 1993. In August 1994, the rupee was made fully convertible on current account. These reforms allowed increased integration between domestic and international markets, and created a need to manage currency risk. Figure 1 shows how the volatility of the exchange rate between the Indian Rupee and the U.S. dollar has increased since 1991. The easing of various restrictions on the free movement of interest rates resulted in the need to manage interest rate risk.

The Securities and Exchange Board of India (SEBI) allowed trading in equities-based derivatives on stock exchanges in June 2000. Accordingly the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) introduced trading in futures on June 9, 2000and June 12, 2000 respectively. Currently futures and optionsturnover on the NSE is Rs7,000-8,000 croreapproximately. In India stock index options were introduced from July 2, 2001.


  • The first derivative product to be introduced in the Indian securities market is going to be “INDEX FUTURES”.
  • In the world, first index futures were traded in U.S. on Kansas City Board of Trade (KCBT) on Value Line Arithmetic Index (VLAI) in 1982.

 Derivatives in India: chronology

December 14, 1995

The NSE sought SEBI’s permission to trade index futures.

November 18, 1996

The LC Gupta Committee set up to draft a policy framework for index futures.

May 11, 1998

The LC Gupta Committee submitted a report on the policy framework for index futures.

July 7, 1999

Reserve Bank of India gave permission for OTC forward rate agreements and interest rate swaps.

May 24, 2000

SIMEX chose Nifty for trading futures and options on an Indian index.

May 25, 2000

SEBI allowed the NSE and the BSE to trade in index futures.

June 9, 2000

Trading of the BSE Sensex futures commenced on the BSE.

June 12, 2000

Trading of Nifty futures commenced on the NSE.

September 25, 2000

Nifty futures trading commenced on the SGX.


  • Leveraged positions
  • Lower margins than the margin funding
  • Index trading–market directional trading
  • Hedging of portfolio
  • Through index, covered calls, options buying
  • Structured products for higher yields
  • Allows taking position in any market condition–bullish, bearish, volatile or neutral.


Derivative instruments are classified as:

  • Forward Contracts
  • Futures Contracts
  • Options
  • Swaps

Derivatives can also be classified as either forward-based (e.g., futures, forward contracts, and swap contracts), option-based (e.g., call or put option), or combinations of the two. A forward-based contract obligates one party to buy and a counter party to sell an underlying asset, such as foreign currency or a commodity, with equal risk at a future date at an agreed-on price. Option-based contracts (e.g., call options, put options, caps and floors) provide the holder with a right, but not an obligation to buy or sell an underlying financial instrument, foreign currency, or commodity at an agreed-on price during a specified time period or at a specified date.

 Forward Contracts Forward contracts are negotiated between two parties, with no formal regulation or exchange, to purchase (long position) and sell (short position) a specific quantity of a specific quantity of a commodity (i.e., corn and gold), foreign currency, or financial instrument (i.e., bonds and stock) at a specified price (delivery price), with delivery or settlement at a specified future date (maturity date). The price of the underlying asset for immediate delivery is known as the spot price.

Forward contracts may be entered into through an agreement without a cash payment, provided the forward rate is equal to the current market rate. Forward contracts are often used to hedge the entire price changed of a commodity, a foreign currency, or a financial instrument irrespective of a price increase or decrease.

 Futures Contracts Futures are standardized contracts traded on a regulated exchange to make or take delivery of a specified quantity of a commodity, a foreign currency, or a financial instrument at a specified price, with delivery or settlement at a specified future date. Futures contracts involve Treasury bonds, agricultural commodities, stock indices, interest-earning assets, and foreign currency.

A futures contract is entered into through an organized exchange, using banks and brokers. These organized exchanges have clearinghouses, which may be financial institutions or part of the futures exchange. They interpose themselves between the buyer and the seller, guarantee obligations, and make futures liquid with low credit risk. Although no payment is made upon entering into a futures contract, since the underlying (i.e. interest rate, share price, or commodity price) is at-the-market, subsequent value changes require daily mark-to-marking by cash settlement (i.e. disbursed gains and daily collected losses). Similarly, margin requirements involve deposits from both parties to ensure any financial liabilities.

Futures contracts are used to hedge the entire price change of a commodity, a foreign currency, or a financial instrument since the contract value and underlying price change symmetrically.

 Options are rights to buy or sell. For example, the purchaser of an option has the right, but not the obligation, to buy or sell a specified quantity of a particular commodity, a foreign currency, or a financial instrument, at a specified price, during a specified period of time (American option) or on a specified date (European option). An option may be settled by taking delivery of the underlying or by cash settlement, with risk limited to the premium.

The two main types of option contracts are call options and put options, while some others include stock (or equity) options, foreign currency options, options on futures, caps, floors, collars, and swaptions.

  • American call options provide the holder with the right to acquire an underlying product (e.g., stock) at an exercise or strike price, throughout the option term. The holder pays a premium for the right to benefit from the appreciation in the underlying.
  • American put options provide the holder with the right to sell the underlying product (e.g., stock) at a certain exercise or strike price, throughout the option term. The holder gains as the market price of the underlying (stock price) falls below the exercise price.
  • An interest rate cap is an option that allows a cap purchaser to limit exposure to increasing interest rates on its variable-rate debt instruments.
  • An interest rate floor is an option that allows a floor purchaser to limit exposure to decreasing interest rates on its variable-rate investments.

Generally, option contracts are used to hedge a one-directional movement in the underlying commodity, foreign currency, or financial instrument.

 Swaps A swap is a flexible, private, forward-based contract or agreement, generally between two counter parties to exchange streams of cash flows based on an agreed-on (or notional) principal amount over a specified period of time in the future.

Swaps are usually entered into at-the-money (i.e. with minimal initial cash payments because fair value is zero), through brokers or dealers who take an up-front cash payment or who ad just the rate to bear default risk. The two most prevalent swaps are interest rate swaps and foreign currency swaps, while others include equity swaps, commodity swaps, and swaptions.

  • Swaptions are options on swaps that provide the holder with the right to enter into a swap at a specified future date at specified terms (stand-alone option in a swap) or to extend or terminate the life of an existing swap (embedded option on a swap).

Swap contracts are used to hedge entire price changes (symmetrically) related to an identified hedged risk, such as interest rate or foreign currency risk, since both counter parties gain or lose equally.


  • A forward contract is one to one bi-partite contract, to be performed in the future, at the terms decided today. (E.g. forward currency market in India).
  • Forward contracts offer tremendous flexibility to the parties to design the contract in terms of the price, quantity, quality (in case of commodities), delivery time and place.
  • Forward contracts suffer from poor liquidity and default risk.


  • Future contracts are organised/ standardised contracts, which are traded on the exchanges.
  • These contracts, being standardised and traded on the exchanges are very liquid in nature.
  • In futures market, clearing corporation/ house provides the settlement guarantee.

 Every futures contract is a forward contract. They:

  • Are entered into through exchange, traded on exchange and clearing corporation/house provides the settlement guarantee for trades.
  • Are of standard quantity; standard quality (in case of commodities).
  • Have standard delivery time and place.


Forward Contract

Future Contract

Operational Mechanism

Not traded on exchange

Traded on exchange

Contract Specifications

Differs from trade to trade.

Contracts are standardised contracts.

Counterparty Risk


Exists, but assumed by Clearing Corporation/ house.

Liquidation Profile

Poor Liquidity as contracts are tailor maid contracts.

Very high Liquidity as contracts are standardised contracts.

Price Discovery

Poor; as markets are fragmented.

Better; as fragmented markets are brought to the common platform.


            A futures contract is a standardized, transferable, exchange-traded contract that requires delivery of a commodity, bond, currency, or stock index, at a specified price, on a specified future date. Generally, the delivery does not occur; instead, before the contract expires, the holder usually “squares their position” by paying or receiving the difference between the current market price of the underlying asset and the price stipulated in the contract.

            Futures contracts are forward contracts, meaning they represent a pledge to make a certain transaction at a future date. The exchange of assets occurs on the date specified in the contract. Futures are distinguished from generic forward contracts in that they contain standardized terms, trade on a formal exchange, are regulated by overseeing agencies, and are guaranteed by clearinghouses. Also, in order to insure that payment will occur, futures have a margin requirement that must be settled daily. Finally, by making an offsetting trade, taking delivery of goods, or arranging for an exchange of goods, futures contracts can be closed.

            Trading in futures is regulated by the Securities & Exchange Board of India (SEBI). SEBI exists to guard against traders controlling the market in an illegal or unethical manner, and to prevent fraud in the futures market.


  • Leveraged positions–only margin required
  • Trading in either direction–short/long
  • Index trading
  • Hedging/Arbitrage opportunity


  • In futures the investor can short sell/buy without having the stock and carry the position for a long time, which is not possible in the cash segment.
  • An investor can buy and sell index components instead of individual securities when he has a general idea of the direction in which the market may move in the next few months.
  • The investor is required to pay a small fraction of the value of the total contract as margin. This means trading in stock index futures is a leveraged activity since the investor is able to control the total value of the contract with a relatively small amount of margin.
  • In the case of individual stocks, the positions, which remain outstanding on the expiration date, will have to be settled by physical delivery, which is not the case in futures.
  • Regulatory complexity is likely to be less in the case of stock index futures compared to the other kinds of equity derivatives, such as stock index options, individual stock options etc.


Options are contracts that give the buyers the right (but not the obligation) to buy or sell a specified quantity of certain underlying assets at a specified price on or before a specified date. On the other hand, the seller is under obligation to perform the contract (buy or sell). The underlying asset can be a share, index, interest rate, bond, rupee-dollar exchange rate, sugar, crude oil, soya bean, cotton, coffee etc.


  • Call options and
  • Put options


  • Limited risk, unlimited profit-call options
  • Higher returns, higher risk-put options
  • Positions in all market conditions/views


The option that gives the buyer the right to buy is called a call option.


The option that gives the buyer the right to sell is called a put option





Both the buyer and the seller are under obligation to fulfill the contract.

The buyer of the option has the right and not the obligation whereas the seller is under obligation to fulfill the contract.


The buyer and seller are subject to unlimited risk of losing.

The seller is subject to unlimited risk of losing whereas the buyer has a limited potential to lose.


The buyer and seller have unlimited potential to gain.

The seller has limited potential to gain while the buyer has unlimited potential to gain.

Price Behavior

It is unidimensional as its price depends on the price of the underlying only.

It is bi-dimensional as its price depends upon both the price and the volatility of the underlying.


OTC and exchange-traded

Broadly speaking there are two distinct groups of derivative contracts, which are distinguished by the way that they are traded in market:

  • Over-the-counter (OTC) derivatives are contracts that are traded (and privately negotiated) directly between two parties, without going through an exchange or other intermediary. Products such as swaps, forward rate agreements, and exotic options are almost always traded in this way. The OTC derivatives market is huge.
  • Exchange-traded derivatives are those derivatives products that are traded via Derivatives exchanges. A derivatives exchange acts as an intermediary to all transactions, and takes Initial margin from both sides of the trade to act as a guarantee. The world’s largest derivatives exchanges (by number of transactions) are the Korea Exchange (which lists KOSPI Index Futures & Options), Eurex (which lists a wide range of European products such as interest rate & index products), Chicago Mercantile Exchange and the Chicago Board of Trade. According to BIS, the combined turnover in the world’s derivatives exchanges totalled USD 344 trillion during Q4 2005.


The main types of risk characteristics associated with derivatives are:

  • Basis Risk: This is the spot (cash) price of the underlying asset being hedged, less the price of the derivative contract used to hedge the asset.
  • Credit Risk: Credit risk or default risk evolves from the possibility that one of the parties to a derivative contract will not satisfy its financial obligations under the derivative contract.
  • Market Risk: This is the potential financial loss due to adverse changes in the fair value of a derivative. Market risk encompasses legal risk, control risk, and accounting risk.


  • Basic objective of introduction of futures is to manage the price risk.
  • Index futures are used to manage the systemic risk, vested in the investment in securities.

Hedge terminology

  • Long hedge- When you hedge by going long in futures market.
  • Short hedge – When you hedge by going short in futures market.
  • Cross hedge – When a futures contract is not available on an asset, you hedge your position in cash market on this asset by going long or short on the futures for another asset whose prices are closely associated with that of your underlying.
  • Hedge Contract Month- Maturity month of the contract through which hedge is accomplished.
  • Hedge Ratio – Number of future contracts required to hedge the position.

Some specific uses of Index Futures

  • Portfolio Restructuring – An act of increasing or decreasing the equity exposure of a portfolio, quickly, with the help of Index Futures.
  • Index Funds – These are the funds which imitate/replicate index with an objective to generate the return equivalent to the Index. This is called Passive Investment Strategy.

Speculation in the Futures market

  • Speculation is all about taking position in the futures market without having the underlying. Speculators operate in the market with motive to make money. They take:
  • Naked positions – Position in any future contract.
  • Spread positions – Opposite positions in two future contracts. This is a conservative speculative strategy.

Speculators bring liquidity to the system, provide insurance to the hedgers and facilitate the price discovery in the market.

Arbitrageurs in Futures market

Arbitrageurs facilitate the alignment of prices among different markets through operating in them simultaneously.


The term bond is commonly used to refer to any securities that are founded on debt. When you purchase a bond, you are lending out your money to a company or government. In return, they agree to give you interest on your money and eventually pay you back the amount you lent out.

The main attraction of bonds is their relative safety. If you are buying bonds from a stable government, your investment is virtually guaranteed, or risk-free. The safety and stability, however, come at a cost. Because there is little risk, there is little potential return. As a result, the rate of return on bonds is generally lower than other securities.


A mutual fund is a collection of stocks and bonds. When you buy a mutual fund, you are pooling your money with a number of other investors, which enables you (as part of a group) to pay a professional manager to select specific securities for you. Mutual funds are all set up with a specific strategy in mind, and their distinct focus can be nearly anything: large stocks, small stocks, bonds from governments, bonds from companies, stocks and bonds, stocks in certain industries, stocks in certain countries, etc.

The primary advantage of a mutual fund is that you can invest your money without the time or the experience that are often needed to choose a sound investment. Theoretically, you should get a better return by giving your money to a professional than you would if you were to choose investments yourself. In reality, there are some aspects about mutual funds that you should be aware of before choosing them, but we won’t discuss them here.

A mutual fund brings together money from many people and invests it in stocks, bonds, or other securities. (The combined holdings of stocks, bonds, or other securities and assets the fund owns are known as its portfolio.) Each investor owns shares, which represent a part of these holdings.


You still owe taxes on any distributions and dividends in the year you receive them (or reinvest them). You will also owe taxes on any capital gains you receive when you sell your shares. Keep your account statements in order to figure out your taxes at the end of the year.

If you invest in a tax-exempt fund (such as a municipal bond fund), some or all of your dividends will be exempt from federal (and sometimes state and local) income tax. You will, however, owe taxes on any capital gains.


Banks now sell mutual funds, some of which carry the bank’s name. But mutual funds sold in banks, including money market funds, are not bank deposits. A money market fund is different with a money market deposit account. Their names are similar, but they are completely different:

  • A money market fund is a type of mutual fund. It is not guaranteed, and comes with a prospectus.
  • A money market deposit account is a bank deposit. It is guaranteed, and comes with a Truth in Savings form.
  • To reiterate, even if you buy a fund through a bank and the fund carries the bank name, there is no guarantee. You can lose your money.


  1. http://www.savvysoft.com/framewk.htm
  2. http://beginnersinvest.about.com/od/stocksoptionswarrants/qt/putoptions.htm
  3. http://beginnersinvest.about.com/od/stocksoptionswarrants/a/aa012305.htm
  4. http://www.magportal.com/cgi/search.cgi?q=derivatives&c=216&x=33&y=16
  5. http://www.fdic.gov/bank/analytical/fyi/2003/032603fyi.html
  6. http://www.cfo.com/article.cfm/3010251
  7. http://www.findarticles.com/p/articles/mi_m3301/is_11_106/ai_n15883978
  8. http://www.erivativesreview.com/content/content.cfm?ID=04F019E5-EA22-4A2B-848790B83AD2EBE6&SectionID=7E15D8B1-3F72-4F46-93A2EF580430CA80&IssueID=E54B92A3-C290-448E-867D4424EF81ED41
  9. http://www.time.com/time/europe/magazine/article/1,13005,901040531-641106,00.html
  10. http://www.findarticles.com/p/articles/mi_m4070/is_195/ai_114050444
  11. http://www.findarticles.com/p/articles/mi_mEIN/is_2005_Nov_23/ai_n15867778
  12. http://www.findarticles.com/p/articles/mi_qa3743/is_200507/ai_n14685366
  13. http://www.time.com/time/magazine/article/0,9171,981587,00.html
  14. http://www.findarticles.com/p/articles/mi_qa3715/is_200309/ai_n9301074
  15. http://links.jstor.org/sici?sici=0022-1082(199303)48:1<65:RTBWAS>2.0.CO;2-Y
  16. http://www.iop.org/EJ/abstract/-search=17677498.8/0295-5075/66/6/909
  17. http://links.jstor.org/sici?sici=0022-1082(198507)40:3<793:DTSMO>2.0.CO;2-Q&origin=repec
  18. http://www.hkex.com.hk/research/dmtrsur/DMTS04_E.pdf
  19. http://www.blackwell-synergy.com/doi/abs/10.1111/j.1369-412X.2003.00044.x?prevSearch=allfield:(indian+stock+market)
  20. http://www.iop.org/EJ/abstract/-search=17677657.2/0295-5075/77/2/28001

Source: S.Shiny Nair
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Top 5 Foreclosure Markets in the US

Consumers are always looking to find a market for their foreclosed properties, it’s not an easy task anyway to find the best markets but there is optimism even with rising rates.  With so many foreclosed homes in the market and at high bargain rates, there is a way you can take advantage of the situation. However here are the top foreclosure markets in the US:

Greeley Colorado foreclosure market

Greeley is one of the top markets in the US; it will provide you with all that you need, be it remains of real estates, CO foreclosure listings and up-to-the-minute Greeley. You will also get to know about foreclosure trends, foreclosure hot spots, Colorado foreclosure laws and basic and of course necessary advice to help you through the whole foreclosure process.

Weather you are deeply interested in Greeley estate market or foreclosed home sin Colorado, the Greeley CO will definitely provide you with all that you need; Greeley schools, apartments, new homes, resale homes among others. It is one foreclosure market that without doubt brings out the best for its clients.

Detroit Michigan

If you’ve been involved with Detroit Michigan foreclosure market, then you will agree with me that research is key to having a great foreclosed home or apartment. Detroit MI offer up-to-date foreclosure listing making your work much easier. They provide information on Michigan foreclosure laws, together with hot spots in Michigan. Detroit MI have made sales of close to 2,667 lately with an average market value of $70,897,a reason enough to get yourself involved with them.

Miami FL

With Miami FL you will find great deals for investing in foreclosure properties, with up-to-date foreclosure listings in Miami, they also help you out in learning on various ways to help you out when buying Miami foreclosure homes at cheap prices. You will also learn to find Miami foreclosures for sale at prices below the market value giving you a chance to save on your next purchase for a foreclosure. It could be what you’ve been looking for, a place which offers their properties at fair prices.

Indianapolis, Indiana foreclosure market

Indianapolis in market has 4,647 homes for sale, with an average market value of $126,467 and $166,843 average list price. Indianapolis in offers special services for its clients which include foreclosure listings in Indiana, foreclosure trends hot foreclosure spots in Indiana and Indiana foreclosure laws among others. You will get enough information on whatever you need to know.

Denver CO

Denver CO favors its sellers and is not regulated by the legal sytems, which makes the whole simple and done within a couple of minutes. They also allow home buyers to bargain from banks, which makes it simpler for buyers. Denver CO also ensures that you get enough advice on the various Denver foreclosure properties, so that you make a choice on what you need to purchase.

With the rising rates of Colorado foreclosures, you should avoid getting yourself in rentals for long, you need change, make a great investment with foreclosed properties by getting help from the above top markets, you won’t loose anything, and in fact you gain a lot. Try it today and experience

Source: John
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Want to Attract New Dental Patients? Think About a Referral Contest

Referral contests are one of the best ways to attract new patients. People love contests and competition for two reasons: (1) Competitiveness is a part of human nature. And, (2) people love to win stuff.

Just think, the most widely watched shows on TV are competitions. Sporting events and reality shows dominate the TV ratings because they are competitive contests. And, the thrill of getting something for nothing is basically second nature for Americans. If you don’t believe this, consider the billions of lottery tickets sold each week.

The contest format of referrals is successful due to the fact that it covers the two main factors of attracting referrals to any business. Those two factors are: Reward and Recognition.

As I said, people like winning stuff, and they love to be gratuitously singled out as doing something good. Referral contests are a great way to make this happen in your practice. They are not difficult to set up, and actually take very little effort to run. All you need to do is promote your contest correctly (a patient newsletter is a good way).

Here are two great examples of successful referral contests that worked wonders.

Example 1:

A dentist was looking for a way to promote and gather referrals in his practice, and the idea was brought up to give away $1000 to the person who referred the most patients.

Each person who referred would get a gift of some sort. I believe, in this case, it was a gift certificate to a local restaurant, and the person referring the most patients at the end of the contest would receive $1000 in cash.

If you run your contest without the small gift for each referral, you will scare some people away. Giving the small gift as a “thank you” to your patients is a good draw for even the shy person that does not care to try for the $1000. The small gift also draws attention to the fact that you get something even for referring one person.

Well, during the 3 weeks that this contest ran, the office generated 44 new patients.

If we do the math in this case, basically, for $1000 this office gathered 44 new patients (an average of just under $23 per patient).

The success is based on the prize. If the top prize was $100, there would have been less of a response. For $10,000, you can bet people would be flying their friends, family, and the family dog to the office.

For some dentists $1000 may seem like a big chunk of money. Think about this, in comparison: Instead, you could spend $1000 to send some direct mail pieces to your neighborhood to attract 10 or so new patients… OR, you can offer the same amount of money to have your patients refer their friends and family to your practice. Remember, your patients will have already sold their friends and family on the benefits of your practice and your dental care. Meaning, they like you from the get-go and are ready to be loyal patients from the moment they walk in your door.

In another, very similar, case there were two ladies at the top of the list who were neck and neck with each other. And, every time one of the ladies would refer a patient in, the front office staff would call the other lady to alert her. This went on for the duration of the contest.

Finally, near the end of the contest, one of the ladies actually drove a patient to the practice for the final referral that eventually won the contest for her.

Now, you don’t have to go that far, but you can see how a simple contest can create a huge buzz throughout your patient base that will literally have them driving patients to your office.

There is another, totally different way, to run a contest in your practice. This first method, mentioned above, is the “most-referrals-wins” contest, and really plays on people’s competitiveness.

If that sounds too crazy for you, there is also the example below. The “weighted drawing” contest is another simple and easy way to run a contest without eliminating any one referrer from having a chance to win the grand prize.

Example 2:

This dentist continually runs this type of contest and offers a new prize every quarter. His prizes have, so far, included computers with flat screen monitors, and a huge 47″ Plasma TV. He is currently giving away 2 round trip airplane tickets to anywhere in the United States.

The contest format is simple. For every referral that completes a new patient visit, the referrer receives one entry into the drawing. Refer one person, and you have one chance to win. Refer 10 people, and have 10 chances.

At the end of the quarter, all of the chances are gathered in a bowl and the winner is drawn. The winner then gets their picture taken with the doctor and the prize, and that picture gets placed in the monthly newsletter. The picture is then accompanied by the announcement of the next contest and the next prize.

Keeping the prizes fresh is exciting for the patients and keeps them involved in the process. If you continually give away the same prize, people will get bored with the contest (unless it is a big prize like $1,000,000).

The picture is a very important step! DO NOT MISS THIS! If you do not promote a winner, people will not get excited about the next contest.

Oh, the results… well, in speaking to the doctor a couple of weeks ago, he reported that the new patients he gains from referrals, on their first visit alone, easily brings in an extra $35,000 per year and pays for their patient newsletter to go out.

That’s only the income from their first visits! “The rest is gravy.” He said.

There is one key that both of these referral contests have in common. That key is promotion to your patients. Without the correct promotion, both of these contests fail. If you don’t tell people what they need to do to win a prize, they won’t do it.

Both of the above examples utilized a patient newsletter to promote the contest. Showing your patients that people are actually winning the contests, will help make them feel like they, too, can win and will want to at least try.

Also, in your newsletter, include referral cards that can be used as the “drawing” cards for your contest. They’re business cards that your patients can write their name on (to ensure they get proper credit) and hand out to their friends and family.

Referral contests are not a hard thing to set up. Just decide on how you want to set it up and make sure your patients know about it. Get them excited. And, remember, if you don’t make a big deal about it, neither will anyone else.

Source: James Erickson
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