Category Archives: Education

From Perth to Chicago

Last week’s “Introduction to Loco London” course offered by  London Bullion Market Association (“LBMA”) was notable for the range of participants in different timezones.  We had a dedicated early bird who joined us at 3am Chicago time and we saw the glow of a sunset in the backyard of our Australian participant.

This introductory course covers numerous aspects of precious metals markets and is ideal both for new entrants and those looking for a refresher or a chance to fill in knowledge gaps.  Groups are kept small to encourage discussion around the formal course materials.  Last week we had excellent first-hand insights into “behind-the-headline” events such as difficulties of transporting bullion at the onset of COVID-19 and the dislocation between London and New York gold prices.

 “It was definitely worth spending at day to receive a simple, easy and overall overview of the LBMA Market and its mechanisms”

 “Very good course, very informative and exactly what I was looking for”

Due to the global interest in the course, the next two dates in are timed for the US (5-Nov) and for Europe (12-Nov).  Check out Upcoming Courses for links to find out more and to reserve your place.

2019 LME course dates released

Check out Upcoming Courses for a full schedule for 2019 and links to secure your place.  The London courses were all sold out in 2018, so book early to make sure you get your preferred dates.  The first London course is 28-30 January 2019.  Other course locations include New York, Dubai and Singapore.

The courses continue to get great feedback:

“Very clear, informative and well presented. Ample opportunities for questions and practical demonstration”, Mitsubishi Corporation

“Everything was explained and presented brilliantly”
Marex Spectron

And don’t forget that the last course of the year is in New York (11-13 December).  Anyone for some Christmas shopping in the Big Apple?

Harnessing technology for cost-effective training

Does video conferencing work for delivering training courses?  The last two days proved it does.

We worked with a small business unit with employees in London and Chicago.  For two London afternoons and Chicago mornings, a small group gathered in London and connected to Chicago via a video link.  The sophisticated system mirrored the presentation materials, and each group could see the other.  Of course there were momentary glitches, and some hilarious moments when a piece of paper held to the camera substituted for a white-board.

The limited timezone overlap forced the training to be split into a series of half-day sessions.  All the participants remarked on how useful this was as:
(1) it was less disruptive to their day-to-day jobs, and
(2) they were refreshed and able to absorb more of the second session.

While nothing beats face-to-face training, the video format proved to be a cost-effective method to train small numbers in disparate locations.

 

Diversity in the desert

Last week the final London Metal Exchange took place in Dubai.  At a first glance the attendee list promised an interesting mix of nationalities.  Once everyone arrived, we realised hardly anyone lived in their country of birth.  The Jordanian resident was from Iraq, while the Jordanian currently works in Kuwait.  The international mix brought an extra dimension to questions and discussions.

The group almost broke the record for the fastest completion of the futures day, but mastering the languages of carries, borrowing and lending, slowed the pace and made for a punctual completion at 5pm.

Options were a new subject for all attendees, and the engineer made light work of the complex concepts.  By the end of the day, there were smiles all around and a real sense of achievement.

“Great course to understand the LME”, Novelis

“It was a lovely course.  Instructor was amazing and has an ability to deliver the information so easily”, Gulf Cable & Electrical Industries

Check out Upcoming Courses for a full schedule of 2018 dates and links to book your place.  The first course in London (30-Jan to 1-Feb 2018) is filling fast.  The next Dubai course is scheduled for 1-3 May 2018.

 

 

 

Reaching for the sky

At the beginning of December, a select group spent five days learning about commodity markets and derivatives during Euromoney Learning Solutions‘ London School of Commodity Price Risk Management.  The course included a visit to watch an open outcry trading session at the London Metal Exchange, which made the classroom theory come alive.

As a pre-Christmas treat, the group enjoyed a trip on the London Eye which put quite a different perspective on the usual London views.

One or two found the course content challenging, but the small group size helped them break through their ceiling and they comfortably tackled the more advanced topics towards the end of the course.

“Nice balance between commodities and derivatives instruments.   Trainer able to explain structures in a simple manner and make it relevant to different attendees.  Interesting case studies / examples”, Sberbank

In 2018, this course will run in a shorter three day format on the following dates:
London,  24-26 April 2018
Singapore, 5-7 September 2018
London, 14-16 November 2018

Click here to book your place.

 

 

 

Turning lights on

On Wednesday the lights on the Christmas tree at the Rockefeller Center were switched on with all the razzamatazz that only New York can do.  A few blocks away at the London Metal Exchange introductory course other lights were being turned on as participants delved into the inner workings of the exchange, and practised using futures and options.  One by one the puzzled faces relaxed and smiled once the concepts were understood and each became more confident.  Instead of an ice rink, golden angels and the Radio City Rockettes, there were aluminium and zinc processors, physical traders, a financial player and even an animal feed supplements manufacturer.

 

“Very well presented and laid out”, GARMCO

“Very informative.  Good level for someone who has a basic knowledge of financial models with experience working in metals”, Constellium

“Great course.  Going over examples useful”, Traxys

There are still some places available for Dubai (12-14 Dec), and the next London course (30-Jan to 1-Feb 2018) is booking fast.  Check out Upcoming Courses for a full schedule of dates and links to book your place.

Record numbers during LME Week

LME week has a reputation for being a hectic time, but last week was a standout with a record number of attendees at the  London Metal Exchange (“LME”) introductory course.  Two parallel sessions of the introduction day were needed to accommodate numbers.  The ability to book each day as an individual course is extremely popular, and numbers increased to the highest attendance to date for the options day.  Participants came from all parts of the value chain and learned as much from one another as from the formal course.

“Good pace.  Theory backed up by good examples”, Thomson Reuters

“Very clear, informative and well presented.  Ample opportunities for questions and practical demonstration”, Mitsubishi Corporation

There are still places available for New York (29-Nov to 1-Dec) and Dubai (12-14 Dec), and the next London course will be in late January 2018.  Check out Upcoming Courses for a full schedule of dates and links to book your place.

 

Summer draws to a close

Chilly London mornings and autumn colour starting to appear gave last week’s London Metal Exchange (“LME”) course an air of going-back-to-school.  The diverse group certainly applied themselves over the three days and enjoyed their visit to the LME to watch the kerb session.  Literally watching and hearing nickel and zinc prices fall made the theory of hedging using LME instruments very real for the miners in the group.

“Great course with good examples and good explanations”, Crown Packaging

“Very useful as a base for trading/hedging in practice” Raffemet Commodities

“The course was an excellent introduction to the LME and the markets it operates.  The course content was concise and informative”, Lloyds Bank

The next London course is during LME week (31 October – 2 November) and it often sells out.  Make sure you don’t miss out on a place. There are later courses scheduled for both New York and Dubai.  Check out Upcoming Courses for a full schedule of dates and links to book your place.

Hot and humid in New York

With unseasonably hot and humid weather and a very full training room, you might have expected last week’s London Metal Exchange courses in New York to have been a bit fraught.  Instead it turned into one of the best courses we have run to date.  Representatives of all parts of the value chain where there and many commented how useful it is to hear others’ questions and comments on the topics discussed.  We took full advantage of the stunning balcony overlooking Times Square to let off steam afterwards.

 

“Excellent course.  Very clear and practical.  A lot of examples which is good.”
Mitsubishi International Corporation

“Good flow of information from very basic to very specific and detailed”
Traxys

“Very, very excellent.  One of the top speakers/trainers I’ve experienced”
Wisconsin Aluminium Foundry

The next course is in London (12-14 September) and is filling fast, and due to the positive feedback, we plan to schedule another date in New York later this year. Check out Upcoming Courses for a full schedule of dates and links to book your place.