Energy Trading & Risk Management

Thu, 13 Sep - Fri, 14 Sep 2012

Singapore, Singapore, Singapore

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General information

This 2-day seminar is clearly structured to cover the instruments and market characteristics in depth, addressing the specifics of modeling energy products and risk management application of these in struments. Risks are defined in the context of energy markets including main approaches to estimating and calculating value-at-risk. The practical case studies will ensure you discuss areas of concern that might arise from your day-to-day work and enable you to put into practice any theory discussed.management process

GLOBAL ENERGY MARKETS
Market outlook balance 2012/2013 supply demand drivers
Review of energy price behavior - key differentiating factors
Spot, forward prices and spreads
Forward curve analysis for oil markets - Excel Workshop
Technical Analysis - key tools that can help you in the market
The Key Fundamentals
The News and information to watch

OVERVIEW OF ENERGY PHYSICAL AND FINANCIAL
MARKETS
Risk of dimensions in energy markets: Price, basis, volume, regulation, weather, operations, freight - The Risk Matrix (TM)
Exchange-based and OTC trading
Impact of physical delivery
Clearing, collateral and margin issues

CRUDE OIL MARKETS AND INSTRUMENTS: PHYSICAL AND
FINANCIAL TRADING
Overview of the global crude oil market
Global crude oil flows
Price setting mechanism and world oil pricing
Physical oil transactions
Forwards, swaps, exotic swaps (extendable, double-up), basis swaps,
options, Asian options, EFPs

REFINED PRODUCTS MARKETS AND INSTRUMENTS:
PHYSICAL AND FINANCIAL TRADING
Overview of the global refined products markets
Trading ¿crack spreads¿, refineries as ¿derivatives¿
Forwards, swaps, basis swaps, options, strips of options, Asian options, crack spread options

WEATHER, FREIGHT AND EMISSIONS MARKETS - THEIR
IMPACT ON OIL GAS MARKETS
Temperature measures: cooling degree days and heating degree days
Hybrid products based on weather and other underlying assets
Emissions markets
Freight routes and markets

STRATEGIC AND TACTICAL ISSUES AROUND HEDGING
WITH ENERGY DERIVATIVES
Understanding operations and entity-wide objectives
CLose out value - liquidity measures in OTC markets
Evaluating the use of derivatives to control market risk and linking use
toenity-wide and activity-level objectives (the risk matrix)
Defining risk management activities and terms

USING ENERGY FUTURES, FORWARDS, SWAPS
Hedging with futures. Buyers and sellers long or short?
Hedging with forward and swaps
Energy swaps and exotic swaps

USING ENERGY OPTIONS: HEDGING AND SPECULATION
Review of options types
Understanding option payoffs

DESIGNING POLICIES AND PROCEDURES AROUND
MARKET RISK, CREDIT RISK AND OPERATIONAL RISKS
Communicating and enforcing the policies

RISK MANAGEMENT
Understanding and interpreting ¿at-risk¿ measures, VaR
Overview of methodologies: Analytic, Monte Carlo and historical
simulation
Risk Reports - Enchancing exposure reports with risk analysis.

STRESS TESTS IN ENERGY MARKETS
Stress tests as a complementary tool to VaR and other market risk
measures
Types of stress tests and main applications
Integrating liquidity, credit and operational risk in the formal risk

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