School of Energy Trading

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

• September cohort
  • The start of group no. 2 – year 202X:
    Kick-off meeting:
    • First Tuesday of September
    • In Amsterdam

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 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 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
  • Simulation Platform – Entrima:
    • Run a simulation:
      • Market analysis
      • Screen-based trading
      • Financial performance (P/L)
      • Central order book – Order initiation
• 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
  • Simulation Platform – Entrima:
    • Run a simulation:
      • Futures – At position level
      • Futures – At portfolio level
      • Options – Call option
      • Options – Put option
• 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
  • Simulation Platform – Entrima:
    • Run a simulation:
      • Forward curve
• 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 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
  • Simulation Platform – Entrima:
    • Run a simulation:
      • Exposure assessment
      • Value at risk
• 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 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 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
  • Simulation Platform – Entrima:
    • Run a simulation:
      • Margin requirements
      • Futures – At position level
      • Futures – At portfolio level
• 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
  • Simulation Platform – Entrima:
    • Run a simulation:
      • Gas – Location spread
      • Gas – Time spread
      • Power – Spark spread
• 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 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