Quick Find:
Commodities - An Introduction
 
Objectives

The course aims to introduce a variety of commodity markets, the various participants and their particular motivations. It will attempt to define what is meant by a commodity, the patterns of demand and supply and the price drivers as well as giving examples of some of the more common structures. The course can be tailored to be an overview of all the commodity markets or can focus in on the individual markets.


Target Audience

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


Length and Structure of the Course

The course consists of one day of lectures and case studies. The day typically consists of three or four 90 minute session with coffee breaks in the morning and afternoon and a lunch break in the middle. There is no exam for this course but candidates will get a certificate of attendance.


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.

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







 
ICMAprimarymarkethandbook.jpg
ICMAmembersregister.jpg
ICMArulebook.jpg
ICMAlegalhelpdesk.jpg
ICMAgmra2013Documents.jpg
ICMAgmralegalopinions.jpg

ICMA Executive Education

ICMA AGM & Conference 2013 Register Now!

Comments/suggestions