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Agenda Overview



DAY ONE: Tuesday 24 September 2013


 

09:15-10.15

Session 1: Introduction and overview of the steam coal physical market


 

 

Instructor: Guillaume Perret, Director, Perret Associates

 

·         Course outline and organisation

·         Introduction to teaching faculty and delegates

·         Summary of the steam coal physical market

·         The importance of risk management in coal and commodities training

 

10.15-11:00

Session 2: Key quality parameters relevant for steam coal pricing

 

Instructor: Senior representative, “Inspectorate International Ltd”, a Bureau Veritas Group Company

·         Which are the most important quality criteria for steam coal?

·         How are they determined?

·         How do they impact on prices?

 

11:00    Networking refreshment break

 

11:30-13:00

Session 3: The steam coal derivatives market

 

Instructor: Guillaume Perret, Director, Perret Associates

·         Main coal derivatives products: historical trading volumes, liquidity,  volatility and methodology

·         The permanent evolution of the market structure and new entrants  – principals, brokers, exchanges

·         How does a financial swap work?

·         New products in development

·         Case studies: interactive risk management examples for suppliers, end users and traders

 

12:30    Networking lunch

 

 

14:30 – 16:00

Session 4: Using derivatives for risk management

 

·         Case studies: interactive risk management examples for suppliers, end users and traders

 

16:00    Networking refreshment break

 

 

16:30-17:30
Session 5: Mark-to-market and forward curve

 

Instructor: Guillaume Perret, Director, Perret Associates

 

 

·         What is mark-to-market and why is it so critical for trading companies?

·         Implications and potential pitfalls

·         Mark-to-market of financial and physical positions

·         Price forecast versus forward curve

·         What can we learn from contango and backwardation and why is the switch between the two critical?

·         Case study: forward curve trading

 

 

18:00    Networking drinks reception

 

DAY THREE: Thursday 26 September 2013

08:30    Morning coffee

 

09:00-10:00

Session 6: Trading the physical coal market

 

Instructor: Chris Walker, Market Manager, global COAL

·         Is physical coal a commodity?

·         Role of globalCOAL in the commoditisation of steam coal

·         Current developments in standardise contracting

·         Physical contract pricing – options & trends

·         Exchange of futures for physical – how does it work?

·         Physically settled futures contracts – the basics

 

10:30    Networking refreshment break

 

 

11:00-12:30

Session 7: Case study

 

Instructor: Guillaume Perret, Director, Perret Associates

·         Interactive case study emphasising pitfalls to avoid in commodity trading

·         Lessons to be applied in the coal market

 

12:30    Networking lunch

 

 

14:00-15:30

Session 8: Introduction to options

 

Instructor: Guillaume Perret, Director, Perret Associates
 

·         Definitions – call, put, strike, premium and other essential concepts

·         Premium calculation and the Black Scholes Model

·         Practical examples: How traders use options

·         Risks and pitfalls

 

15:30    Networking refreshment break

 

 

16:00-17:00

Session 9: What traders and brokers do: Over-the-counter trading mechanisms

 

Instructor: Ola Strand Andersen, Managing Director, Marex Spectron Asia Pte Ltd.

 

·         Step-by-step worked example of a derivatives deal

·         Snapshot of trading screens. Screen trading versus voice trading

·         Different ways to trade coal derivatives – over-the-counter or through exchanges

·         Required infrastructure to support trading activities

·         Dealing in the iron ore swap market

·         Developments in coking coal as it heads towards exchange traded swaps

 

 

DAY TWO: Wednesday 25 September 2013

08:30    Morning coffee

 

 

09:00- 10:00

Session 10: Understanding risk management indicators

 

Instructor: Guillaume Perret, Director, Perret Associates

 

·         Volatility, correlation, delta, value-at-risk and other risk measures

·         Easy and useful ways to calculate these indicators

·         Avoiding the false sense of security they can provide

·         Introduction to more sophisticated risk management systems

 

10:00    Networking refreshment break

 

 

10:30-11:30

Session 11: Use of structured derivatives to manage coal price exposures

 

Instructor: Russell Norton, Founder and Managing Director, Calhan Trading

  • Structured financing solutions
  • Alternative sources of capital
  • Interactive case studies

 

11:30-12:30

Session 12: Clearing: Another way to address counterparty risk

 

Instructor: Alan Bannister, Executive Director, Energy Products, Asia, CME Group

·         What is clearing?

·         Clearing mechanisms – exchange, clearing house, clearing members

·         Implications for market participants – marked-to-market, initial margins, daily margins, cash flows

·         Interactive examples

 

12:30    Networking lunch

 

 

14:00-14:45

Session 13: Introduction to technical analysis

 

Instructor: Guillaume Perret, Director, Perret Associates

 

·         What is technical analysis?

·         Introduction to simple concept: support, resistance, trend, moving average, bars

·         How can technical analysis be used in steam coal trading?

 

14:45-15:30

Session 14: Setting up a derivatives desk and wrap-up

 

Instructor: Guillaume Perret, Director, Perret Associates

 

·         Typical trading floor organisation and business models

·         Departments’ responsibilities and inter-connections – front office, risk management, back office, credit, legal

·         Risk analysis and strategy implementation

·         Requirements to set up and develop a trading activity

·         Critical issues to consider and mistakes to avoid

·         Course wrap-up and next steps