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Commodities - An Introduction
 
Attending the course will help you:
  • Understand the various participants in the commodity markets
  • Define what is meant by a commodity
  • Look at the main traded commodity markets

Course background

The programme starts off by identifying the links between different commodity markets and then moves on to look at the different physical and financial market participants.


Who should attend?

This course is suitable for anyone with an understanding of the fundamental concepts of finance who has an interest in understanding how commodities fit into the world of finance.



Course Tutor

Neil Schofield
Neil is a visiting fellow at the University of Reading and is a freelance training consultant. From 2001 to 2008, he was global head of financial markets training at Barclays Capital in London.  He was responsible for the design and delivery of a large number of seminars in a variety of different asset classes to many different audiences. Previous to that he was a director at Chisholm Roth training in London and has also held positions at Chase Manhattan Bank as well as Security Pacific Hoare Govett (now trading as Bank of America). Neil has over 20 years of experience in financial markets. In 2008, he published his first book “Commodity Derivatives” and his second text “Trading the Fixed Income, Inflation and Credit Markets” was published in 2011.  

He is currently co-authoring a book on Inflation entitled “Trading Inflation: Markets, instruments and strategies”, which is due for publication in 2013.







Course Outline
Session 1 Contents
Commodity fundamentals • Identify the links between different commodity markets
• The main traded commodity markets
• Why commodity markets are essentially forward markets
Session 2 Contents
Forward pricing • The concept of a forward price
• Why normal forward pricing conditions do not apply in commodity markets
• Conditions of contango and backwardation and the situations in which they are most likely to occur
• The main commodity participants and their likely activity along the forward curve
Session 3 Contents
Physical market participants • The nature of a supply chain for different commodities
• The nature of their associated price risks
• Demand and supply patterns for different commodity complexes (i.e. metals vs. energy vs. agriculture)
• The main price drivers of commodity prices
Session 4 Contents
Financial market participants • How market participants can invest in commodities (e.g. index funds vs. ETPs vs. MTNs)
• The main commodity indices used by the market
• The main sources of return from index investing (i.e. the concept of the roll yield)
• The main features of exchange traded products
• Structured commodity products





 

Details of the next seminar

London
TBC


ICE Education
5th Floor Milton Gate
60 Chiswell Street
London EC1Y 4SA
United Kingdom

Please email education@icmagroup.org to register your interest to attend our next publicly scheduled course.

Based at ICE Education London offices: IntercontinentalExchange® (NYSE: ICE), is a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets.
 

Costs

The cost will be £625.00 for ICMA and ICE Members and £825.00 for non-members.

The following discount scale is offered:
2-4 candidates – 5% discount each*
5+ candidates – 10% discount each*

*Please note that discounts are applied by way of a refund to the organisation when registration has closed and the final number of candidates from the firm has been determined.

Course materials will be provided to candidates in electronic format prior to the start of programme. Please ensure that you have access to this document during the course by either printing off a copy or by downloading it on your laptop, iPad or Tablet.

Should you require a hard copy of the course materials, there is a charge for printing off and sending the course materials to the training venue.  Please contact education@icmagroup.org a minimum of two weeks before the course start date for further details on this.


Payment can be made by secure online credit card or by invoice. Please note that the BACS invoice method has an additional £50 admin fee.


Note that anyone requiring accommodation to take the course will be required to arrange this on their own; it is a class-based but non-residential course.

 
For more information

This course is also available on a group booking basis.

Should you have any queries about this seminar please contact David Senior on +44 20 7213 0329 or at education@icmagroup.org




“Taught by highly knowledgeable trainer. The course is very informative, interesting and enjoyable class. Very impressed with content and delivery. Wouldn't hesitate to recommend.”
Adele Mundy, Senior Client Trainer, Thomson Reuters







 
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