Underwater ROV as Inspection and Development Platform

The successful business technical cooperation between the University of Split and the company PLOVPUT LLC yields a very usable, lightweight, maneuverable underwater Remote Operated Vehicle (ROV). The ROV is capable of diving down to 150 m depth. It can carry different remote controlled sensors and tools, and resolve challenging tasks. Primarily ROV’s usage is to inspect underwater electrical installation. It is equipped with HD camera and LED lights. An umbilical cable is used to transfer data and electrical power from the surface to the underwater vehicle. The position control was realized using inexpensive PS2 joystick console. ROV’s development was mostly carried out by the students of the University of Split (UNIST). The mechanical and electrical subsystems were built and tested at UNIST laboratories. In this paper, ROV mechanical and electrical systems are outlined and basic subsystems are presented

FUTURES AND FORWARDS MARKET ANALYSIS IN THE WORLD AND IN THE REPUBLIC OF CROATIA

Cilj ovoga rada je detaljno prikazati terminske ugovore kao jedne od izvedenih financijskih instrumenata koji su svoju primjenu našli u mnogim gospodarskim djelatnostima. Uz navedeno, prikazani su i recentni statistički podatci o globalnom terminskom tržištu te tržištu terminskih ugovora u Hrvatskoj. Najveća i povijesno najznačajnija burza na kojoj se trguje terminskim ugovorima je Chicago Mercantile Exchange. Osim korištenja za zaštitu pozicija ismanjenje rizika, budućnosnice i unaprijednice koriste se i kao instrumenti špekulativnog trgovanja i arbitraže. Ovisno o namjeni korištenja terminskih derivata, postoji i niz strategija koje investitori mogu zauzimati kako bi se što učinkovitije ogradili od rizika, špekulirali s cijenama ili pak zaradili na arbitraži. U radu su korišteni hipotetski primjeri kako bi se dao naglasak na široku mogućnost upotrebe budućnosnica i unaprijednica. Terminskim ugovorima u razvijenim zapadnim zemljama trguje se dugi niz godina, a u novije vrijeme u velikoj mjerii azijske zemlje počinju koristiti ove derivativne financijske instrumente. Hrvatska za sada nema razvijeno tržište terminskim ugovorima. Upotreba unaprijednica je donekle i prisutna kod domaćih kompanija, dok se isto ne može reći za budućnosnice. Jačanje značaja i upotrebe terminskih ugovora i drugih izvedenih instrumenata treba na domaće tržište uvoditi postupno is oprezom jer su izvedenice potencijalno vrlo rizični insturmenti.The purpose of this paper is to present futures and forwards in a detailed manner as one of the derivative financial instruments used in a plethora of economic activities. Furthermore, recent statistics regarding global futures and forwards market and Croatian futures and forwards market are provided. The biggest and historically most important derivatives exchange where futures and forwards are used for trading is the Chicago Mercantile Exchange. Other than their use as a means to protect financial position and avert risk, forwards and futures also serve as an instrument in speculation and arbitrage. Depending on the intended use of terminal derivatives, various strategies exist for investors to make use of in order to shield themselves from risk in the most efficient way, to speculate on prices or to secure profits via arbitrage. Hypothetical examples are provided in order to emphasize the abundance of possible applications of futures and forwards. Futures and forwards contracts have been used for years for trading in developed countries, and in the recent years many Asian countries decided to use these derivative financial instruments. For the time being, Croatia does not possess a developed forwards and futures market. The use of forwards contracts does exist in some instances, namely domestic companies, but the same cannot be said for futures contracts. Stressing the importance of them and incorporating them and other derivative instruments into the domestic market should be done gradually and carefully since derivatives are potentially an instrument of considerable risk

FUTURES AND FORWARDS MARKET ANALYSIS IN THE WORLD AND IN THE REPUBLIC OF CROATIA

Cilj ovoga rada je detaljno prikazati terminske ugovore kao jedne od izvedenih financijskih instrumenata koji su svoju primjenu našli u mnogim gospodarskim djelatnostima. Uz navedeno, prikazani su i recentni statistički podatci o globalnom terminskom tržištu te tržištu terminskih ugovora u Hrvatskoj. Najveća i povijesno najznačajnija burza na kojoj se trguje terminskim ugovorima je Chicago Mercantile Exchange. Osim korištenja za zaštitu pozicija ismanjenje rizika, budućnosnice i unaprijednice koriste se i kao instrumenti špekulativnog trgovanja i arbitraže. Ovisno o namjeni korištenja terminskih derivata, postoji i niz strategija koje investitori mogu zauzimati kako bi se što učinkovitije ogradili od rizika, špekulirali s cijenama ili pak zaradili na arbitraži. U radu su korišteni hipotetski primjeri kako bi se dao naglasak na široku mogućnost upotrebe budućnosnica i unaprijednica. Terminskim ugovorima u razvijenim zapadnim zemljama trguje se dugi niz godina, a u novije vrijeme u velikoj mjerii azijske zemlje počinju koristiti ove derivativne financijske instrumente. Hrvatska za sada nema razvijeno tržište terminskim ugovorima. Upotreba unaprijednica je donekle i prisutna kod domaćih kompanija, dok se isto ne može reći za budućnosnice. Jačanje značaja i upotrebe terminskih ugovora i drugih izvedenih instrumenata treba na domaće tržište uvoditi postupno is oprezom jer su izvedenice potencijalno vrlo rizični insturmenti.The purpose of this paper is to present futures and forwards in a detailed manner as one of the derivative financial instruments used in a plethora of economic activities. Furthermore, recent statistics regarding global futures and forwards market and Croatian futures and forwards market are provided. The biggest and historically most important derivatives exchange where futures and forwards are used for trading is the Chicago Mercantile Exchange. Other than their use as a means to protect financial position and avert risk, forwards and futures also serve as an instrument in speculation and arbitrage. Depending on the intended use of terminal derivatives, various strategies exist for investors to make use of in order to shield themselves from risk in the most efficient way, to speculate on prices or to secure profits via arbitrage. Hypothetical examples are provided in order to emphasize the abundance of possible applications of futures and forwards. Futures and forwards contracts have been used for years for trading in developed countries, and in the recent years many Asian countries decided to use these derivative financial instruments. For the time being, Croatia does not possess a developed forwards and futures market. The use of forwards contracts does exist in some instances, namely domestic companies, but the same cannot be said for futures contracts. Stressing the importance of them and incorporating them and other derivative instruments into the domestic market should be done gradually and carefully since derivatives are potentially an instrument of considerable risk