Forum Views - October 2023
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BOMBAY STOCK EXCHANGE BROKERS' FORUM (BBF) | MUMBAI, INDIA
OCTOBER 2023 | VOLUME: 12 • ISSUE NO. 7 •
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Quantitative Modeling Risks Digital Asset Custody Enhancing Employee Engagement
Lead Generation for Small Businesses Social Selling in Modern Sales Strategies
Good Loans & Bad Loans New Digital Personal Data Protection Law Compliance for Stock Broking Firms
To Be or Not to Be an Entrepreneur Gold will retain its Allure
Investment Decisions Investing in Personal Branding Strategically harnessing Well Known Trade Marks
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DR. THOMAS MURPHY
COLIN PARRY
IRINA MITROFANOVA
JENNIFER R GLASS
NWAMAKA UDENIGWE
ANIRBAN GHOSH
PUNEET BHASIN
KIRTY DATAR
DR. MADHAVANKUTTY G.
CA SARITA MEHRA PANDEY
SHALINI SANKAR
LAKSHMIDEVI SOMANATH
INSIDE:
IFSC restricted schemes
Sustainable wealth creation: an overview
Quasi contract
The vital connection
between spirituality
and wellness
FORUM VIEWS - OCTOBER 2023
FORUM VIEWS - OCTOBER 2023
EXECUTIVE COMMITTEE
GOVERNING BOARD MEMBERS
BOMBAY STOCK EXCHANGE BROKERS’ FORUM (BBF)
GOVERNING BOARD 2022 - 23
Anup Gupta
Sykes & Ray
Equities India Ltd.
Cyrus Khambata
Paytm
Money Ltd.
Madhavi Vora
ULJK Securities
Pvt. Ltd.
Naresh Rana
Vishwas Fincap
Services Pvt. Ltd.
Neeraj Choksi
NJ India
Invest Pvt. Ltd.
Nirav Gandhi
JM Financial
Services Ltd.
Nithin Kamath
Zerodha
Securities Pvt. Ltd.
Ajit Sanghvi
MSS Securities
Pvt. Ltd.
Parth Nyati
Swastika
Investmart Ltd.
S. P. Toshniwal
Sunlight
Broking LLP
HEMANT MAJETHIA
Vice Chairman | BBF
Ventura
Securities Ltd.
LALIT MUNDRA
Chairman | BBF
Suresh Rathi
Securities Pvt. Ltd.
HARIN MEHTA
Treasurer | BBF
M/S. V. C.
Mehta
KUSHAL A. SHAH
Jt. Secretary | BBF
Ratnakar
Securities Pvt. Ltd.
KISHOR KANSAGRA
Secretary | BBF
Pragya
Securities Pvt. Ltd.
Anurag Bansal
SMC Global
Securities Ltd.
Ashish Rathi
HDFC
Securities Ltd.
Dr. Pravin Bathe
Angel One Ltd.
Purav Fozdar
Axiom Share
Broking Pvt. Ltd.
Vivek Gupta
GEPL Capital
Pvt. Ltd.
Virender Mansukhani
Mansukh Securities
and Finance Ltd.
Uttam Bagri
BCB Brokerage
Pvt. Ltd.
Tejas Khoday
Fyers Securities
Pvt. Ltd.
Saurabh Jain
SSJ Finance &
Securities Pvt. Ltd.
Roopkishor Bhootra
Anand Rathi Shares &
Stock Brokers Ltd.
Santosh Jayaram
GROWW
FORUM VIEWS - OCTOBER 2023
FORUM VIEWS - OCTOBER 2023
Dr. Vispi Rusi Bhathena, PhD (h.c.)
Chief Executive Officer
Dr. V. Aditya Srinivas
Chief Operating Officer
and Chief Economist
FORUM VIEWS, OCTOBER 2023 edition
The Indian Economy is clearly showing its leadership among the world economies with the GDP coming
at 7.8% which is at 4 quarters high. The world economy growth is around 2.5% while the USA latest GDP
were at 1.3% and China at around 6%. The world is surely accepting India as the torch bearer for the
road ahead.
Indian Economy currently $ 3.75 trillion; by 2031 S&P projects that Indian economy may touch $ 6 to 7
trillion. India to become 3rd largest in world after USA and China.
F R O M
THE
BBF SECRETARIAT
Inflation which has raised its menacing head and is at 7.44% makes the case for worry as the Central
bank has indicated that if the inflation remains at elevated levels, then they would be forced to increase
the interest rates. Our Repo Rate has been kept constant at 6.5% for the 3 consecutive RBI Monetary
policy meet but the stand of the Central Bank is getting more cautious. USA Fed Reserve has already
increased its interest rates at 5.25% which is at 22 years, but they have also indicated that if the inflation
remains high then they would also be forced to increase the interest rates going ahead.
GST collections has been consistently above Rs. 1.5 lakh crores which shows that at the
grass root level the economy tends to show good strong footing and the economic activities picking up.
Indian stock markets are witnessing huge flows from domestic as well as foreign investors. The Indian
Mutual funds industry is also witnessing continuous monthly growth.
From
to You...
BBF
FORUM VIEWS - OCTOBER 2023
BBF conducted OVER 30 SEMINARS towards investor education and awareness
initiatives which were attended by MORE THAN 1500 participants.
BOMBAY STOCK EXCHANGE
BROKERS’ FORUM (BBF)
Policy Group Meeting
on Saturday, 16 September at the
Jade Garden Ball Room, Mumbai
FORUM VIEWS - OCTOBER 2023
10
Global
Insights
QUANTITATIVE MODELING RISKS,
FINANCIAL MARKETS, TECHNOLOGY, ML & AI?
22
Your Questions
Answered
IFSC RESTRICTED SCHEMES
WHOSE DOMAIN IS IT?
Disclaimer: This magazine is meant for information purposes only and does not constitute any opinion or guidelines or recommendation on any course of action to be followed by the reader(s). It is not intended to be used as trading or
investment advice by anybody and should not in any way be treated as a recommendation. The information contained in this magazine does not constitute or form part of and should not be construed as, any offer for purchase or sale of
any product or service. While the information in the magazine has been compiled from sources believed to be reliable and in good faith, readers may note that the contents thereof including text, graphics, links or other items are
provided without warranties of any kind. Bombay Stock Exchange Brokers' Forum (BBF) expressly disclaims any warranty as to the accuracy, correctness, reliability, timeliness, merchantability or fitness for any particular purpose, of
this magazine. Bombay Stock Exchange Brokers' Forum (BBF) shall also not be liable for any damage or loss of any kind, howsoever caused as a result (direct or indirect) of the use of the information or data contained in this magazine.
Any alteration, transmission, photocopied distribution in part or in whole or reproduction of any form of this magazine or any part thereof without prior consent of Bombay Stock Exchange Brokers' Forum (BBF) is prohibited.
Concept, Production and Editorial: Dr. VISPI RUSI BHATHENA, PhD (h.c.)
Editor & Publisher: Dr. V. ADITYA SRINIVAS
Design & Layout: HARSHAD GAJERA
Printing Press: KSHITIJ PRINTERS, 49, Parsi Panchayat Road, Ashok Ind. Estate,
1st Floor, Andheri (East), Mumbai - 400 069
Write to us: We would be happy to hear from you! Do send in your suggestions, feedback and comments
via email to team@brokersforumofindia.com | Visit us: www.brokersforumofindia.com
BBF Steering Committee
(Chairman)
(Vice-Chairman)
(Secretary)
(Treasurer)
(Jt. Secretary)
Lalit Mundra
Hemant Majethia
Kishor Kansagra
Harin Mehta
Kushal A. Shah
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FORUM VIEWS - OCTOBER 2023
COMPLIANCE
CALENDAR
47
Regulatory
Compliance
AYURVEDIC WISDOM FOR RELIEVING CONSTIPATION:
A HOLISTIC APPROACH - PART 1
THE VITAL CONNECTION BETWEEN
SPIRITUALITY AND WELLNESS
Leadership,
Empowerment & Lifestyle
48
34 Feature
GOLD WILL RETAIN ITS ALLURE AND INDIANS’ TRYST
WITH THE YELLOW METAL WILL CONTINUE
THE 4’S OF SOFTENING YOUR INVESTMENT DECISIONS
INVESTING IN PERSONAL BRANDING: AN ASSET
FOR THE FUTURE, YIELDING RICH DIVIDENDS
STRATEGICALLY HARNESSING WELL-KNOWN
TRADEMARKS AND CULTIVATING BRAND
RESILIENCE AND BRAND EQUITY
SUSTAINABLE WEALTH CREATION: AN OVERVIEW
QUASI CONTRACT
26 Insights
MAKING INFORMED FINANCIAL CHOICES:
DISTINGUISHING BETWEEN GOOD LOANS
AND BAD LOANS
WHAT TO EXPECT DURING YOUR IVF PROCESS
52
Living Health
Matters
DIGITAL ASSET CUSTODY
REDUCING STRESS AND ENHANCING EMPLOYEE
ENGAGEMENT: KEY STRATEGIES FOR 2023
IMPORTANCE OF LEAD GENERATION
FOR SMALL BUSINESSES
THE ROLE OF SOCIAL SELLING
IN MODERN SALES STRATEGIES
THE NEW DIGITAL PERSONAL DATA
PROTECTION LAW COMPLIANCE FOR
STOCK BROKING FIRMS
THE DILEMMA - TO BE OR
NOT TO BE AN ENTREPRENEUR
FORUM VIEWS - OCTOBER 2023
10
FORUM VIEWS - OCTOBER 2023
Introduction
Widespread turmoil in the financial markets in 2008 was
quickly followed by accusations of greed and
mismanagement. Risky trading schemes and complex
valuation models involving credit default swaps (CDS),
collateralized mortgage obligations (CMO), collateralized
debt obligations (CDO), and other complex structures were
blamed. A massive government bailout in the banking and
insurance industries was necessary, including at insurance
giant AIG, to prevent a total financial meltdown. These
systemic institutions were deemed too big to fail. The
financial news was quick to say that another round of black-
box quant models and risky derivatives had blown up Wall
Street. How did this happen? Could it have been prevented?
Who is liable? These questions are still being asked, with
concerns about future market disruptions.
This paper is focused on derivatives and model risk.
Quantitative finance is my area of expertise, and I work in
litigation support and with companies to help clarify issues
involving valuation, risk, and strategy. This specialty is
multidisciplinary, involving engineering, quantitative
finance, and technology commercialization law. I am
thankful to my doctoral advisors at the College of Law and
the Whitman School of Management at Syracuse
University who allowed me to pursue my passion where
these disciplines interact, and to the DuPont Company and
General Electric for 14 years of industry experience before
graduate school, this made all the difference.
Options, futures, and other derivative securities are
essential elements of modern finance and can reduce risk
when properly applied. Derivatives are embedded in
financial assets, tangible and intangible property,
structured products, trading and hedging strategies, and
contracts that have flexible terms and conditions. Real
options occur naturally as flexibility and growth
opportunities that can be exercised over time in an
environment of uncertainty.
Derivatives
QUANTITATIVE MODELING RISKS,
FINANCIAL MARKETS, TECHNOLOGY, ML & AI?
Dr. Thomas Murphy
Ph.D., JD, MBA, Chemical Engineer
Valuation Risk & Strategy, LLC
Insurance can be modeled as a put option having an
exercise price equal to the face value of the policy. Any loss
in value of the asset is covered by an increase in value of the
put option. Reinsurance contracts, commonly known as
excess-of-loss contracts, are combinations of long and
short call option positions on layers of potential losses.
Manufacturing companies often rely on the futures market
to lock-in raw material costs, and real options exist in the
flexible operation of physical equipment. An oil refinery
having flexibility to switch inputs and outputs has an
embedded real option to switch when heating oil is in
greater demand than gasoline. Flexibility increases the
value of every asset under conditions of uncertainty. Long-
term contracts contain option-like features, including
volumetric swing components when demand is uncertain.
Contract prices can be tied to an index, or a basket of
Options, futures, and other
derivative securities are essential
elements of modern finance and
can reduce risk when properly
applied. Derivatives are
embedded in financial assets,
tangible and intangible property,
structured products, trading and
h e d g i n g s t r a t e g i e s , a n d
contracts that have flexible terms
and conditions.
(Skaneateles, New York, USA)
Global Insights
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