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Commodities – Trading and Investment Strategies    
 
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Objectives


This course is to explore commodity trading and investing perspectives from the very short term trade to longer buy-and-hold strategies.  The course considers the different motivations and strategies used by participants and also provides the underlying theory of the strategy and the actual practical knowledge for implementation.

 

Target Audience


This course is suitable for anyone with an understanding of the fundamental concepts of finance but wishes to know more about commodity trading and investment strategies.   For persons with no or little background in commodities it would be advisable to first take the “Commodities – An Introduction” course, though there is no formal pre-requisite this basic knowledge is assumed.

 

Length and Structure of the Course


The course consists of two days of lectures and case studies.  Each day typically consists of 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 ICMA Centre, 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 is currently in the process of writing a second “Relative Value in Financial Markets”.

Course Brochure

Click here
to download the Commodities – Trading and Investment Strategies course brochure 

(Brochure available soon - Please email mike.kirkman@icmagroup.org to receive when available)

 

Course Outline
 

Session 1 Contents 

Why invest in commodities

• The rationale for investing in commodities
• The dynamics of a forward curve for commodities
• Concepts of contango, backwardation and convenience yield


Session 2 Contents 
Tactical / market opportunity based trades – Geographical and time spreads • Popular strategies in the base metal markets
• NYMEX WTI vs. ICE Brent
• Quarterly, seasonal and annual spreads in energy markets


Session 3 Contents 

Tactical / market opportunity based trades - Energy

• Energy vs. refined product spreads
• Interfuel spreads
• ‘Dark’ and ‘spark’ spreads
 

Session 4 Contents 
Tactical / market opportunity based trades - Emissions

• EUAs and CERs
• Trading emission strips


Session 5 Contents 
Exchange traded products

• Exchange Traded Funds
• Exchange Traded Commodities
• Exchange Traded Notes


Session 6 Contents 

 

Capital protected structured products


 

• Basket notes
• Outperformance notes
• Best of / Worst of structures


Session 7 Contents 
Yield enhanced structured products • Reverse convertibles
• Leveraged structures

Session 8 Contents 

Long term allocation to broad commodity indices

• The main index commodities
• The main source of return from indices (roll yield)
• Recent index investment structures
 

 
 

Details of the next seminar


ICE EducationICE Education, London, have a look at the venue

September 9-10, 2010
London, United Kingdom
Registration deadline: September 2, 2010

 
This is an ICMA Executive Education course hosted by ICE Education. 

Based at ICE Education London offices at Milton Gate, 60 Chiswell Street. 

IntercontinentalExchange® (NYSE: ICE), is a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets. ICE's diverse markets offer contracts based on crude oil and refined products, natural gas, power and emissions, agricultural commodities including canola, cocoa, coffee, cotton, orange juice and sugar, as well as credit derivatives, foreign exchange and Russell Index futures and options.

   

Costs
 

The cost will be £1,000.00 for ICMA and ICE Members and £1,300.00 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:

 

Mike Kirkman for general marketing queries

mike.kirkman@icmagroup.org
Phone: +44 207 213 0329

 


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