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Provided by: London Financial Studies Commodities and Commodity DerivativesAccounting and Finance |
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Course Outline
The current explosion of activity in commodity markets - expressed by the amount of capital flowing into this asset class and the remarkable growth of hybrids, structured notes and commodities indexes - makes this course essential for all those needing a thorough and detailed understanding of both spot and derivative transactions. The programme will cover fundamental issues such as volume risk, mean-reversion, the forward curve, and the theory of storage. Plain-vanilla and exotic options on commodities will be analysed, as well as a real options approach to energy physical assets. Lastly, different ways of investing in commodities will be presented and discussed, as well as the virtues of holding commodity baskets to diversify a portfolio and hedge against inflation.
Delegates are entitled to a 30 discount on Professor Geman's book, "Commodities and Commodity Derivatives: Modelling and Pricing for Agriculturals, Metals and Energy".
Who The Course is For
* Commodity traders
* Hedge fund managers
* Investment bankers
* Energy company risk managers
* Insurance companies
Prior Knowledge
Some basic knowledge of finance will be required. All fundamentals on commodities will be reviewed.
The current explosion of activity in commodity markets - expressed by the amount of capital flowing into this asset class and the remarkable growth of hybrids, structured notes and commodities indexes - makes this course essential for all those needing a thorough and detailed understanding of both spot and derivative transactions. The programme will cover fundamental issues such as volume risk, mean-reversion, the forward curve, and the theory of storage. Plain-vanilla and exotic options on commodities will be analysed, as well as a real options approach to energy physical assets. Lastly, different ways of investing in commodities will be presented and discussed, as well as the virtues of holding commodity baskets to diversify a portfolio and hedge against inflation.
Delegates are entitled to a 30 discount on Professor Geman's book, "Commodities and Commodity Derivatives: Modelling and Pricing for Agriculturals, Metals and Energy".
Who The Course is For
* Commodity traders
* Hedge fund managers
* Investment bankers
* Energy company risk managers
* Insurance companies
Prior Knowledge
Some basic knowledge of finance will be required. All fundamentals on commodities will be reviewed.
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Training
Provided by London Financial Studies
- B asked: I want to invest in commodities market and want to learn about it? I want to be trained and am expecting the training, can u please pass me the details of the training if you provide? all about the package, its cost and syllabus as well.
Commodities and Commodity Derivatives Seminar Schedule
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October, 2011 | ||||
| 24th Oct | London, London | [Register] | ||
November, 2011 | ||||
| 17th Nov | New York, Manhattan, New York, USA | [Register] | ||
Commodities and Commodity Derivatives
Day One
Spot and Forward Commodity Markets in Detail
* Price formation in commodities: the massive arrival and rapid withdrawal of new players
* Theory of storage and forward curves in detail
* Understanding the impact of inventory and commodity price volatility
* The role of shipping markets: the remarkable spikes in freight indices and their recent collapse
Metal Markets
* Zinc, copper, nickel, lead
* The impact of the London Metal Exchange rules
* Precious metals: is Gold returning to its role as a shelter currency?
Energy Markets
* Coal and its large reserves
* Natural gas markets; modelling and understanding the role of seasonality
* Crude oil prices and its new developments
Case Study: Modelling the dynamics of commodity forward curves: seasonality and stochasticity. The Borovkova-Geman model applied to crude oil and natural gas.
Day Two
Financial and Physical Options in Commodities - Investing in Commodities
* Electricity and its unique features
* Agricultural commodities: the old and the new
* Ethanol and biofuels revisited
* Water as the next commodity
* Commodity cross correlation and the implications for risk management
* The unique features of commodity volatilities in spot and option prices
* Managing the specific risks from electricity derivatives
* Spread options in commodities: differences from other asset classes and how to model them (crush spreads, sparkspreads, darkspreads)
* Valuation of physical assets in the energy industry
* Investing in commodities:
o The major commodity indexes
o The choice of weights, rebalancing rule and time-to-maturity of the futures
o The importance of the shape of the forward curve in the roll yield
* Commodity Structured Notes and ETFs
Case Study: Investing in shares of oil and mining companies: how good is the performance? Mid cap versus large caps.
Spot and Forward Commodity Markets in Detail
* Price formation in commodities: the massive arrival and rapid withdrawal of new players
* Theory of storage and forward curves in detail
* Understanding the impact of inventory and commodity price volatility
* The role of shipping markets: the remarkable spikes in freight indices and their recent collapse
Metal Markets
* Zinc, copper, nickel, lead
* The impact of the London Metal Exchange rules
* Precious metals: is Gold returning to its role as a shelter currency?
Energy Markets
* Coal and its large reserves
* Natural gas markets; modelling and understanding the role of seasonality
* Crude oil prices and its new developments
Case Study: Modelling the dynamics of commodity forward curves: seasonality and stochasticity. The Borovkova-Geman model applied to crude oil and natural gas.
Day Two
Financial and Physical Options in Commodities - Investing in Commodities
* Electricity and its unique features
* Agricultural commodities: the old and the new
* Ethanol and biofuels revisited
* Water as the next commodity
* Commodity cross correlation and the implications for risk management
* The unique features of commodity volatilities in spot and option prices
* Managing the specific risks from electricity derivatives
* Spread options in commodities: differences from other asset classes and how to model them (crush spreads, sparkspreads, darkspreads)
* Valuation of physical assets in the energy industry
* Investing in commodities:
o The major commodity indexes
o The choice of weights, rebalancing rule and time-to-maturity of the futures
o The importance of the shape of the forward curve in the roll yield
* Commodity Structured Notes and ETFs
Case Study: Investing in shares of oil and mining companies: how good is the performance? Mid cap versus large caps.
About The Training Provider: London Financial Studies
London Financial Studies - London Financial Studies is a specialist teaching resource that concentrates exclusively on capital markets. We offer individuals, teams and companies expert teaching that combines theoretical understanding with practical experience.
Our business is driven by a distinct philosophy and clear values:
* Practical Application
* Intellectual Clarity
* Personal Approach
*...
