Our study advise is based on the Market Abuse Training Standard (MATS)
Training is mandatory; it is part of the compliancy framework. Worldwide, market abuse regulations require that training has to be provided and periodic updates need to be performed. In addition, awareness has to be raised.
Although there is no one-size-fits-all approach, a minimum knowledge level is required for all professionals in the commodity and energy markets. With MATS, Entrima has defined and maintains criteria that have to be met. High quality training courses reflect these minimum requirements. This way, a uniform approach can be applied world-wide and across different companies.
It would also allow for identifying a professional’s expertise (whether the standard is met). Furthermore, a market standard and harmonisation allows for continuity when people move from one market participant to another. Hiring staff with a guarantee of minimum competences is the consequence.
JOB–COMPETENCY PROFILES – KNOWLEDGE REQUIREMENTS FOR DIFFERENT TARGET GROUPS
Each professional working for an organisation that operates in the markets, or has a task related to the markets, has to familiarise with market abuse regulations and related consequences. Below is provided an overview with minimum knowledge requirements in this field.
| Market Professional (each market pro) | Inside Information Professional (physical business) | Market Access Professional (order handling) | Surveillance Professional (prevention & detection) |
WHO? (Job title) | - Control functions at trading department
(e.g. Risk manager, Business/Fin. controller) - Support functions at trading department
(e.g. Back office, IT, HR) - Functions at Sales dept.
(e.g. Account manager)
| - Management functions
(e.g. Executive, Manager) - Function relating to physical assets
(e.g. Operator, Dispatcher, Asset/Plant manager, Manager at/of facility) - Any pro who ought to know what inside info is
| - Business functions at front office of trading firm or brokerage firm
(e.g. Trader, Originator, Broker) - Balancing function at TSO
(e.g. Market operator)
| - Market monitoring
(e.g. Surveillance officer, Regulator) - Trade compliance
(e.g. Compliance officer)
|
WHAT? (Content) | - Being aware of regulations.
- Understand that firms have to comply, but also individuals.
- Know that prohibitions & obligations may apply.
- Understand the relevance of compliance.
- Consciousness about sanctioning.
- Familiarise with relevant institutions & supervisor
- Eliminate ethical blindness
| All elements mentioned to the left, plus these: - Master the commodity value chain.
- Being able to identify inside information.
- Handling inside information carefully.
- Awareness of the publication of inside info.
- Familiarise with the data reporting obligation.
| All elements mentioned to the left, plus these: - Prohibition of insider dealing.
- Prohibition of market manipulation.
- Forms of market manipulation.
- Abusive schemes + criteria of relevance
- Practical cases
- Jurisprudence & disciplinary actions
| All elements mentioned to the left, plus these: - Master fundamentals & essentials of markets, products, pricing & trading.
- Master related concepts processes & terminology
- Best practices
- Trading strategies & technicalities
- Master futures, swaps & options price formation
|
HOW? (Tools) | - Training, examination & certification re the above stated content.
- Periodic updates.
- Raising awareness.
| - Training, examination & certification re the above stated content.
- Periodic updates.
- Raising awareness.
| - Training, examination & certification re the above stated content.
- Periodic updates.
- Raising awareness.
| - Training, examination & certification re the above stated content.
- Periodic updates.
- Raising awareness.
|
WHERE? | - Entrima Learning Platform
(Trade Compliance & Surveillance)
| - Entrima Learning Platform
(Trade Compliance & Surveillance)
| - Entrima Learning Platform
(Trade Compliance & Surveillance)
| - Entrima Learning Platform
(Trade Compliance & Surveillance)
|
Further to the knowledge requirements, learning requirements have been set. Based thereon, Entrima provides training courses. On this basis, a professional and its employer can proof awareness.
