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FINANCIAL MARKET COURSES

Commodities

Courses In This Course

Commodities are omnipresent in everyday life, from the food we eat to the homes we live in and the cars we drive. It is no surprise, therefore, that commodities are big business, with billions of dollars being traded every day on commodity exchanges around the world.

Objectives

This course describes the world of commodities trading in detail, covering topics such as:

The characteristics of the different commodities traded on global markets (OTC and exchanges)

The key participants in the commodity markets

Fundamental pricing concepts such as basis, cost of carry, contango, and backwardation

Gold and other precious metal trading

The trading of copper and other base metals

Energy markets such as oil, natural gas, coal, and electricity

Agricultural commodities such as grains and oilseeds, livestock, and “softs”

Emissions trading

Commodity derivatives such as forwards, futures, options, and swaps

A variety of commodity trading and hedging strategies

Learner Profile

This course is primarily designed for new or recent recruits to banks, commodity trading firms (CTFs), fund managers, or other institutions with a commodities trading business. The course will also be useful for senior or more experienced professionals seeking to refresh or enhance their knowledge of the commodities business today.

  •    COMMODITIES - AN INTRODUCTION

    Overview

    This course takes a detailed look at the different types of commodity and the exchanges where they are traded. It identifies the main participants in the commodity markets and explains the fundamentals of commodities trading, including exchange trading and OTC trading as well as the trading of physical commodities.

    Course Duration

    75 mins

    Prerequisite Knowledge

    Financial Markets – An Introduction

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  •    COMMODITIES - TRADING

    Overview

    This course explains a range of important futures pricing concepts, such as cost of carry, contango, and backwardation, many of which are particular to the commodities market. A variety of commodity trading and hedging strategies are also discussed in detail.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Commodities – An Introduction

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  •    COMMODITIES - PRECIOUS METALS

    Overview

    A precious metal is a rare metallic chemical element of high, durable economic value. These metals are very malleable, highly resistant to corrosion, excellent reflectors of light and conductors of heat and electricity. They were historically important as currency, but are now primarily regarded as investment and industrial commodities. This course looks at the fundamentals of trading in the various precious metals markets: gold, silver, platinum, and palladium.

    Course Duration

    90 mins

    Prerequisite Knowledge

    Commodities – An Introduction

    Forwards & Futures – An Introduction

    Options – An Introduction

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  •    COMMODITIES - BASE METALS

    Overview

    Base metals are malleable, ductile, and corrode relatively easily. Such properties have found widespread use in various industries. In today’s world, industrial and technological advances have increased the requirement to improve physical infrastructure in developing economies, thereby increasing the demand for base metals. Investors and metal buyers have thus developed the base metal market into a more mature market.

     

    This course looks at the fundamentals of trading in the various base metals markets: copper, aluminum, zinc, nickel, lead, and tin. It also describes in detail how the London Metal Exchange (LME) facilitates trading for base metals on a worldwide basis.

    Course Duration

    90 mins

    Prerequisite Knowledge

    Commodities – An Introduction

    Forwards & Futures – An Introduction

    Options – An Introduction

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  •    COMMODITIES - OIL

    Overview

    Products derived from crude oil are varied; the most well-known is gasoline (petrol), while other products include heating oil, liquefied petroleum gas (LPG), naphtha, kerosene, gas oil, and fuel oil. With so many applications for which there are few or no substitutes, crude oil is certainly the world’s most important commodity. The faster economies grow, the greater their consumption of oil. This is why demand from developing countries such as China and India has risen dramatically in recent years. The price of crude oil is also highly sensitive to political developments, especially unrest in the Middle East.

     

    This course outlines the main uses of crude oil and its derivative products, and describes how these are traded in the cash and derivatives markets.

    Course Duration

    90 mins

    Prerequisite Knowledge

    Commodities – An Introduction

    Forwards & Futures – An Introduction

    Options – An Introduction

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  •    COMMODITIES - NATURAL GAS

    Overview

    Natural gas is the fastest growing primary energy source in the world. Its use in electricity generation has become increasingly important as it is a cleaner fuel. The natural gas market is mainly a localized one because gas is difficult and expensive to transport across borders.

     

    This course describes the fundamentals of the natural gas market, as well as the trading processes and players involved in the market. It also explains how natural gas price risk can be hedged using derivative instruments.

    Course Duration

    75 mins

    Prerequisite Knowledge

    Commodities – An Introduction

    Forwards & Futures – An Introduction

    Options – An Introduction

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  •    COMMODITIES - ELECTRICITY & COAL

    Overview

    Electricity is an integral part of our lives, with numerous residential, industrial, and commercial uses. It is used to light up homes and offices, run televisions and computers, and provide the power to operate countless other appliances. With world markets opening up due to liberalization, electricity as a commodity can now be traded across borders.

     

    A major part of electricity is generated using coal. Coal is equally important as a commodity but, being a fossil fuel, it is available in limited quantities.

     

    This course is about the electricity and coal markets. It looks at the factors affecting electricity prices and the types of risk in electricity trading. It provides an insight into the trading techniques used in the electricity market and the exchanges that offer electricity contracts. It also looks at the features of the coal market and covers trading in coal, international coal indexes, and information providers.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Commodities – An Introduction

    Forwards & Futures – An Introduction

    Options – An Introduction

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  •    COMMODITIES - EMISSIONS

    Overview

    With global warming on the rise, chances for ecosystems to adapt naturally are diminishing, making climate change one of the greatest threats facing the earth. At the 1992 Earth Summit, most of the world’s countries joined an international treaty – the United Nations Framework Convention on Climate Change (UNFCCC) – to consider the options for reducing global warming. More recently, a number of countries ratified an addition to the UNFCCC – the Kyoto Protocol – with more powerful and legally binding measures.

     

    Emissions trading is one of the mechanisms under the Kyoto Protocol that is designed to help countries cut the cost of meeting their emissions targets. This course throws light on the regulatory background for emissions trading, the reduction targets, and trading mechanisms specified under the Protocol. It covers the EU Emissions Trading scheme and its trading practices in detail. The course also focuses on the factors that determine the price of carbon, and looks at some of the emissions markets that have been set up across the globe.

    Course Duration

    75 mins

    Prerequisite Knowledge

    Commodities – An Introduction

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  •    COMMODITIES - GRAINS & OILSEEDS

    Overview

    This course describes the basics of the main grains and oilseeds (namely corn, soybeans, and wheat) traded on global markets, as well as some popular hedging and trading applications for these commodities. As with most agricultural commodities, grains and oilseeds are characterized by strong supply and demand fundamentals. These fundamentals are examined in detail throughout this course.

    Course Duration

    30 mins

    Prerequisite Knowledge

    Commodities – Trading

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  •    COMMODITIES - LIVESTOCK

    Overview

    This course describes the basics of cattle and lean hogs, the two main types of livestock traded on global commodity markets, as well as some popular hedging and trading applications for these commodities. As with most agricultural commodities, cattle and lean hogs are characterized by strong supply and demand fundamentals. These fundamentals are examined in detail throughout this course.

    Course Duration

    30 mins

    Prerequisite Knowledge

    Commodities – Trading

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  •    COMMODITIES - SOFTS

    Overview

    This course describes the basics of the soft commodities (namely cotton, sugar, orange juice, cocoa, and coffee) traded on global markets, as well as some popular hedging and trading applications for these commodities. As with most agricultural commodities, these commodities are characterized by strong supply and demand fundamentals. These fundamentals are examined in detail throughout this course.

    Course Duration

    30 mins

    Prerequisite Knowledge

    Commodities – Trading

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