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Commodities - An Introduction
 
This course is designed to give delegates a broad overview of the commodities market. 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.


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

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. No prior study is required.


Course Director

Neil Schofield 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.


The course content is divided into several topic areas, which are then broken down into multiple subtopics:

1. Commodity Fundamentals
  • Identify the links between different commodity markets
  • The main traded commodity markets
  • Why commodity markets are essentially forward markets

2. 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

3. 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

4. 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
2 November 2015


  

Venue:
International Capital Market Association (ICMA) Limited
3rd Floor
23 College Hill
London EC4R 2RP
United Kingdom
 

Cost

The cost is £625.00 for ICMA Members and £825.00 for non-members.

The course fee includes all lunches, coffee breaks and training materials.

Payment can be made by secure online credit card or by invoice. Please note that selecting the invoice method will add £50 (administration fee) to the course price.  Multiple candidates from the same company can request one invoice, thus reducing the overall administration fee.


Please note:

The course is a non-residential learning programme, so candidates are responsible for arranging their own travel and accommodation.

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 have any queries about the course please contact education@icmagroup.org




 

Fixed Income Certficate (FIC)

AGM2016 STD