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.

My heart is in Havana

Just as “Havana”  by Camila Cabello was topping the charts around the world, a select group of Cuban bankers took part in the “Understanding Commodity Derivatives” course organised by the Banco Central de Cuba with the assistance of the UK Foreign and Commonwealth Office in Havana.  The course was the second in a series of courses facilitated by GBRW Learning, and the first to be simultaneously translated into Spanish, with course materials provided in both languages.
The intensely practical focus of the course was appreciated as many participants’ prior experience had been largely theoretical.  The sessions concentrated on the commodities most relevant to Cuba, and illustrated techniques for managing price risk, stabilising the value of cargoes used as collateral, and dealing with the inevitable delays and physical format variations.  Those who completed the course should also be well equipped to adapt these techniques to other asset classes.

A minor confusion between honey (miel) and iron ore (hierro) made us laugh.  We all know what we would prefer to have on toast in the morning.

 

 

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.

First steps in Bangladesh

EJJ International was chosen to deliver a course in Commodity Price Risk Management in Dhaka, Bangladesh, by City Bank.  The course was a key first step in an initiative to facilitate the use of commodity derivatives by Bangladeshi banks and corporates. City Bank has undertaken a driving role in the project, and invited representatives from Prime Bank, Dhaka Bank, One Bank and the regulator, Bangladesh Bank, to attend.  The course production was facilitated by the Dutch development bank FMO and Euromoney Learning Solutions.  The event attracted extensive coverage in the local media and was very well received.

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.

 

M is for …

If last week’s London Metal Exchange courses in London were an episode of Sesame Street, “M” would have been the featured letter.  We had delegates from Mexico and Malaysia, representatives of Marex, McKinsey and Microgen, and Melvin, Mario and Myooresh.

The big advantage of attending these courses in London is the visit to the LME to watch the open outcry kerb trading session at the end of the first day.  It’s always popular, and an exciting close on zinc left us all glad that we were not having to deal with the pressure of getting orders through to the dealer before the bell.

“Excellent overview of how the market operates. Definitely will be useful going forward.”
Trayport

“Everything was explained and presented brilliantly”
Marex Spectron

“Trainer was very good, patient, enthusiastic and always willing to answer/clarify points”
Microgen

The next course in New York (13-15 June) is almost full and the next London course (12-14 September) is already filling up.  Make sure you don’t miss out on a place.  Check out Upcoming Courses for a full schedule of dates and links to book your place.

Mountain Climbing in Dubai

The large group of attendees at the recent London Metal Exchange courses in Dubai, delivered in partnership with Euromoney Learning Solutions, did not realise they had signed up to a mountaineering expedition.

The first day was a brisk march through the foothills discussing the general functions of the LME.  On the second day, while exploring the futures contracts, several noted the steeper incline, but the pacing of the course ensured everybody made it comfortably to the top of the first peak – Futures Mountain.  Most were out of breath on the final day, but everybody made it to the summit of the highest peak – Options Mountain – and could enjoy the view from the summit.  

One or two even managed to scale the more challenging aspects of delta hedging and volatility surfaces.  During rest breaks, several real life situations were discussed and brought into the course as worked case studies.  By the end, we were all tired but the sense of achievement was palpable.

“Excellent course with overall information on LME instruments and dealing”
Kuwait Aluminium Extrusion Company

“All three days were valued separately in equal way”
Kibar Holding

“Trainer is a very good communicator – a seasoned educator”
Middle East Specialised Cables

Training resumes in London on 23-25 May, and is followed by New York on 13-15 June.  Check out Upcoming Courses for dates later in the year.