Energy Markets & Derivatives

Investment Education Plc

Training

Inhouse

Price on request

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Description

  • Type

    Training

  • Methodology

    Inhouse

  • Duration

    2 Days

Oil and Gas markets have recently shown explosive growth which many believe will continue over the next few years. Less noticed has been the development of the Electricity and Carbon Emissions Derivatives Markets. This two day course provides a coherent overview of the Trading and Derivatives available on all the major Energy products. Suitable for: Hedge Funds looking at alternative products. Oil, Gas and Utility company executives. Energy & Commodity Traders considering new areas. Fund Managers wishing to widen their investment range. Private Bankers & Pension Fund Advisors. Operations & Back Office staff. Accountants, Compliance and Auditors. IT Executives designing systems for these products. Government Regulators

About this course

A basic knowledge of Traded Futures and Options is assumed – but not of these products.

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Subjects

  • Gas
  • Derivatives
  • Market
  • Swaps
  • Oil and Gas
  • Trading
  • Investment
  • International
  • Network
  • Energy Markets
  • Energy Derivatives

Course programme

Energy Derivatives Markets & Derivatives

Background to Energy Pricing & Derivatives

The different types of energy and energy markets

Energy market drivers

Market users and participants

Spot and Forward pricing

Forward curves, limitations of forwards and the changing shape of the forward curve

Calculating the convenience price and yield

Energy derivatives - Delta One
- Futures
- Pricing an energy swap
- Take or Pay contracts

Energy derivatives - Options
- Option valuation using Blacks' 76
- Energy exotics - Asians, Spread and Swing
- Energy Caps, Floors and Collars

Oil Markets & Derivatives

Introduction to oil - world reserves and production

Crude types - sweet 'n' sour, Heavy 'n' light

Marker crudes and benchmark pricing: WTI, Brent, Dubai etc

Differential Swaps and spread swap

The refining process and distillates markets

Refining netbacks

Pricing a Crack Spread

Crack curves and using Cracks as distillate stock level predicators


The Coal Markets

Coal types and uses

Demand versus supply and reserves

Coal Pricing - International and USA

Coal price drivers

Coal pricing and freight costs

Trading coal

Natural Gas Markets & Derivatives

Natural Gas types

Gas market supply and demand: reserves and consumption

Gas market drivers

Transporting Gas

The US Gas market, Gas pipelines and Hubs

Delivery basis

Natural Gas basis swaps and spreads

The UK Natural Gas market, Gas network, pipes and beaches

The European Gas market

Natural Gas Storage

LNG

NGL and Fractionation spreads. Calculating the shrink.

Electricity Markets

Electricity markets & structure. Price drivers

Electricity derivatives: forwards, swaps, spreads and options

Electricity forwards

Spark and Dark spreads

Calculating Spark and Dark spreads

The adjusted (clean) Spark spread

Carbon Markets & Emissions Trading

Greenhouse gases and the Carbon markets

The Kyoto Protocol

Emission Trading Schemes: EU ETS Phase I & II

Clean Development Mechanisms. Joint implementation

Climate Exchanges

Trading Carbon Emissions: forward curves

Correlations with fuels

Emissions swaps


Additional information

Payment options: If you have several people to train then a tailored in house course may be more cost effective- contact us for details

See related categories

Energy Markets & Derivatives

Price on request

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