Any employer can make use of this business proposition if they have a group of new recruits, who they want to provide with a kick-start of their career. Hence, a learning journey is provided to throroughly educate newly hired employees (new recruits).
KICK-START CAREER
Ideally, employees are first trained, before participating in the work environment. The idea of the start of the learning journey (i.e the first 3 months) is to provide them with the fundamentals of markets, and to provide them a basic logic about trading, so that the integration on the workfloor is significantly decreased, making this proposition time-efficient and cost-effective.
CONTENT
The content of the learning journey includes the following:
- The commodity and energy supply chain
- Fundamentals & essentials of markets and trading
- Trading strategies, trading technicalities, trading tools, technology and systems, trading operations, controls, risk management and compliance.
- Activities, processes and concepts, plus related terminology
TARGET GROUPS
This learning journey could be useful for employers in the following categories:
- Market facilitators
Examples: brokerage firms, exchanges (and other trading venues), clearing organisations.
- Organisations with a trading function
Examples: commodity trading firms, oil & gas companies, electricity generators and suppliers.
- Organisations with a control function
Examples: regulatory authorities, accountancy firms, legal firms.
- Organisations with a support function
Examples: data & news providers, price reporting agencies.
COHORTS
The learning journey is open for registrations of individuals by any organisation.
Annually, there are 2 cycles (meaning, there are two starting points):
- February cohort
- The start of group no. 1 – year 202X:
Kick-off meeting:- First Tuesday of February
- In Amsterdam
- The start of group no. 1 – year 202X:
- September cohort
- The start of group no. 2 – year 202X:
Kick-off meeting:- First Tuesday of September
- In Amsterdam
- The start of group no. 2 – year 202X:
LEARNING SERVICES
Each candidate is provided with the following learning services:
- Self-study:
- Learning licence – 365 days access to Learning Platform – Entrima (100+ courses)
- Learning licence – 365 days access to Learning Platform – Market Abuse Centre (70+ courses)
- Simulation licence – 365 days access to Simulation Platform – Entrima (50+ sims)
- Being guided / Mentoring services:
- Mentoring licence – 365 days membership of Weekly Wizard – Entrima
- Mentoring licence – 365 days membership of MAC’s Mentor – Market Abuse Centre
- Live-tutoring:
- 13 workshops (online & on-site)
- Study materials:
- A series of handbooks (hardcopy)
- Other materials (accessible via / downloadable from Learning Platform)
PROGRAMME
The programme consists of various building blocks (modules), each consisting of a specific topic:
Launch
KICK-OFF
An online introduction of 30 minutes
- Introduction to the programme – Explaning the setup, as well as the rights & responsibilities.
Week 1
COMMODITY VALUE CHAINS
This module covers a 1-day on-site workshop in Amsterdam covering the following topics:
- Power, crude & distillates, natural gas & LNG, bio-energy, hydrogen, heat, emission rights & attribute certificates.
- Supply chains – Upstream, midstream and downstream activities and capacity.
In addition, the candidate is supposed to:
- Perform self-study:
- Learning Platform – Entrima:
- Follow course:
- Commodities
- Climate change & energy policy
- Bio-energy
- Heat
- Hydrogen
- LNG
- Carbon markets & emission rights trading
- Follow course:
- Learning Platform – Entrima:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
Week 2
MARKETS & ORGANISATIONS
This module covers a 1-day online workshop covering the following topics:
- Stakeholders – The roles of market participants, brokerage firms, trading venues, clearing organisations, system operators, policy makers, regulators, and their relations / interactions.
- Industry bodies.
- The trade organisation: business, control and support functions.
In addition, the candidate is supposed to:
- Perform self-study:
- Learning Platform – Entrima:
- Follow course:
- Commodity markets
- Follow course:
- Learning Platform – Entrima:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
- Hand-in group/individual assignment:
- This week’s assignment
- Learners will be provided feedback regarding the previous assignment
Week 3
TRADING
This module covers a 1-day online workshop covering the following topics:
- Why, where, when and how does trading take place?
- Bilateral deal-making versus exchange trading.
- The role of brokers, exchanges, clearing houses, clearing members and fee structures.
In addition, the candidate is supposed to:
- Perform self-study:
- Learning Platform – Entrima:
- Follow course:
- Reasons to transact
- Bilateral deal-making & OTC markets
- Exchange-trading
- OTC trading platforms
- Central orderbook
- Order types
- Follow course:
- Simulation Platform – Entrima:
- Run a simulation:
- Market analysis
- Screen-based trading
- Financial performance (P/L)
- Central order book – Order initiation
- Run a simulation:
- Learning Platform – Entrima:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
- Hand-in group/individual assignment:
- This week’s assignment
- Learners will be provided feedback regarding the previous assignment
Week 4
CONTRACTS
This module covers a 1-day online workshop covering the following topics:
- Supply contracts – Volume & price
- Supply contracts – Take-or-pay, volume flexibility, swing optionality.
- Spot & forward contracts
- Derivative contracts – Futures, swaps and options.
In addition, the candidate is supposed to:
- Perform self-study:
- Learning Platform – Entrima:
- Follow course:
- Derivatives – Introduction
- Derivatives – Position management
- Forward curves
- Options – Introduction
- Follow course:
- Simulation Platform – Entrima:
- Run a simulation:
- Futures – At position level
- Futures – At portfolio level
- Options – Call option
- Options – Put option
- Run a simulation:
- Learning Platform – Entrima:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
- Hand-in group/individual assignment:
- This week’s assignment
- Learners will be provided feedback regarding the previous assignment
Week 5
PRICING & ANALYTICS
This module covers a 1-day online workshop covering the following topics:
- Price discovery & the role of price reporting agencies.
- Market analysis.
- Price formation – Driving factors, central order book and order flow.
- Indexes, indexation, benchmarks and settlement prices.
In addition, the candidate is supposed to:
- Perform self-study:
- Learning Platform – Entrima:
- Follow course:
- Commodity pricing
- Commodity indices & price-indexation
- Price volatility
- Follow course:
- Simulation Platform – Entrima:
- Run a simulation:
- Forward curve
- Run a simulation:
- Learning Platform – Entrima:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
- Hand-in group/individual assignment:
- This week’s assignment
- Learners will be provided feedback regarding the previous assignment
Week 6
CONTRACT MANAGEMENT
This module covers a 1-day online workshop covering the following topics:
- Master agreements
- Credit support – CSAs
- Supply contracts
- Power purchase agreements (PPAs)
In addition, the candidate is supposed to:
- Perform self-study:
- Learning Platform – Entrima:
- Follow course:
- Master agreements
- PPAs
- Follow course:
- Learning Platform – Entrima:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
- Hand-in group/individual assignment:
- This week’s assignment
- Learners will be provided feedback regarding the previous assignment
Week 7
RISK MANAGEMENT
This module covers a 1-day online workshop covering the following topics:
- Market (price) risk & market (price) risk management
- Counterparty risk & credit risk management
- Liquidity risk & liquidity risk management
- Compliance risk & compliance risk management
- Operational risk & operational risk management
- Mandates & limit settings
In addition, the candidate is supposed to:
- Perform self-study:
- Learning Platform – Entrima:
- Follow course:
- Risk & opportunity
- The risk management organisation
- Value at risk
- Weather risk
- Follow course:
- Simulation Platform – Entrima:
- Run a simulation:
- Exposure assessment
- Value at risk
- Run a simulation:
- Learning Platform – Entrima:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
- Hand-in group/individual assignment:
- This week’s assignment
- Learners will be provided feedback regarding the previous assignment
Week 8
REGULATION & COMPLIANCE
This module covers a 1-day online workshop covering the following topics:
- Market regulations
- Trade compliance – Shielding employer & employees
- Reputational risk management & sanctioning
In addition, the candidate is supposed to:
- Perform self-study:
- Learning Platform – Market Abuse Centre:
- Follow course:
- Trade compliance – The basics
- Morality
- Ethical blindness
- Follow course:
- Learning Platform – Market Abuse Centre:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
- Hand-in group/individual assignment:
- This week’s assignment
- Learners will be provided feedback regarding the previous assignment
Week 9
FINANCIAL CRIME & MARKET ABUSE
This module covers a 1-day online workshop covering the following topics:
- Money laudering, bribery, VAT fraud, insider trading and market manipulation
- KYC
- Market monitoring & trade surveillance
- People, systems & arrangements
- Case handling
In addition, the candidate is supposed to:
- Perform self-study:
- Learning Platform – Market Abuse Centre:
- Follow course:
- Introduction to financial crime
- Money laundering
- Terrorist finance
- Bribery
- Financial fraud
- Tax fraud
- Employee fraud
- Market abuse
- Surveillance – Financial crime – A holistic approach
- Trade surveillance – The basics
- Follow course:
- Learning Platform – Market Abuse Centre:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
- Hand-in group/individual assignment:
- This week’s assignment
- Learners will be provided feedback regarding the previous assignment
Week 10
TRADING OPERATIONS – CLEARING & SETTLEMENT
This module covers a 1-day online workshop covering the following topics:
- Trade confirmations
- Clearing
- Collateralisation & margining
- Settlement
- The nomination process
In addition, the candidate is supposed to:
- Perform self-study:
- Learning Platform – Entrima:
- Follow course:
- Clearing
- Netting
- Margining
- Settlement
- Follow course:
- Simulation Platform – Entrima:
- Run a simulation:
- Margin requirements
- Futures – At position level
- Futures – At portfolio level
- Run a simulation:
- Learning Platform – Entrima:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
- Hand-in group/individual assignment:
- This week’s assignment
- Learners will be provided feedback regarding the previous assignment
Week 11
FINANCE & QUANTITATIVE ANALYSIS
This module covers a 1-day online workshop covering the following topics:
- Mark-to-market (M-to-M) valuation & reporting
- Book structures
- Internal transfers & internal transfer pricing
- Performance measures
- Physical assets & gross margins
- Time, location and cross-commodity spreads
In addition, the candidate is supposed to:
- Perform self-study:
- Learning Platform – Entrima:
- Follow course:
- Flexibility
- Modelling
- Spreads & spread trading
- Follow course:
- Simulation Platform – Entrima:
- Run a simulation:
- Gas – Location spread
- Gas – Time spread
- Power – Spark spread
- Run a simulation:
- Learning Platform – Entrima:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
- Hand-in group/individual assignment:
- This week’s assignment
- Learners will be provided feedback regarding the previous assignment
Week 12
ICT
This module covers a 1-day online workshop covering the following topics:
- Trading tools & technology
- Trading & risk management (TRM) systems
- Data & systems
In addition, the candidate is supposed to:
- Perform self-study:
- Learning Platform – Entrima:
- Follow course:
- Trading & risk management systems
- Follow course:
- Learning Platform – Entrima:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
- Hand-in group/individual assignment:
- This week’s assignment
- Learners will be provided feedback regarding the previous assignment
Week 13
ASSIGMENTS
This module covers a 1-day online workshop covering the following topics:
- Group assignment
- Document
- Present
- Individual task
- Document
- Present
In addition, the candidate is supposed to:
- Follow Mentoring sessions:
- Attend Weekly Wizard – Entrima
- Attend MAC’s Mentor – Market Abuse Centre
Week 14-51
SELF-STUDY & MENTORING
This module requires candidates to do the following:
- Perform Self-study
- Run simulations on Entrima’s Simulation Platform
- Attend courses & take exams (and be certified) on Entrima’s Learning Platform
- Attend courses & take exams (and be certified) on Entrima’s Learning Platform
- Attend Mentoring services
- Attend weekly sessions MAC’s Mentor (MM) + Participate ongoing in community
- Attend weekly sessions Weekly Wizard (WW) + Participate ongoing in community
Week 52
DIPLOMA
This module covers a 1-day on-site meeting in Amsterdam.
This is the last building block of the learning journey by handing the diploma, thereby formalising and finalising the programme.
TIME TABLE
The tutoring (online/on-site) takes place on Tuesdays, 09:00-15:00 CET.
09:00-10:30 Session 1
10:30-10:45 Coffee break
10:45-12:00 Session 2
12:00-12:30 Lunch break
12:30-13:45 Session 3
13:45-14:00 Coffee break
14:00-15:00 Session 4