SCHWAGER, Jack D. a ETZKORN, Mark. A complete guide to the futures market: technical analysis, trading systems, fundamental analysis, options, spreads, and trading principles. Online. Second edition. Wiley trading series. Hoboken, New Jersey: Wiley, [2017]. ISBN 9781119209713 .
SOUMARÉ, Issouf. Commodity exchanges: concepts, tools and guidelines. Cheltenham, UK: Edward Elgar Publishing, [2022]. ISBN 978-1-80088-703-9.
SWINDLE, Glen. Valuation and risk management in energy markets. New York: Cambridge University Press, 2014. ISBN 978-0-117-03684-0.
THOMPSON, Alex. Commodity Trading: Navigating Markets, Sustainability, and Innovation. Side Hustle Success, 2023. ISBN 9798223559610 .
Commodity Exchanges
| Language of instruction | angličtina, čeština |
|---|---|
| Code | 545-0196 |
| Abbreviation | KB |
| Course title | Commodity Exchanges |
| Coordinating department | Department of Economics and Control Systems |
| Course coordinator | doc. Ing. Roman Kozel, Ph.D. |
Anotace
The course provides students with a comprehensive overview of the functioning of commodity exchanges. During lectures, students will learn about the classification of commodities, market and trend analysis, trading mechanisms and main investment instruments. The aim is to understand how commodity markets influence the global economy and how to effectively manage the risks associated with commodity trading. Emphasis is placed on the practical application of theoretical knowledge and current developments in global commodity markets. During the exercises, students gain practical experience by working on a semester project on an application topic.
After completing the course, the student will achieve the following learning outcomes:
Professional knowledge
The student defines the basic concepts, terminology and principles of organized exchange and over-the-counter trading in raw materials and commodities. Characterizes the main groups of traded commodities, including the specifics of their standardization. Identifies the mechanisms of operation and parameters of individual exchange and financial instruments. Explains the essence of fundamental and technical analysis in commodity markets. Classifies the basic types of commodity market participants and explains their market motivations and behavior during price crises or market anomalies.
Professional skills
The student demonstrates reading price charts and uses technical analysis tools to identify market trends and timing entry or exit from a trading position. Calculates profit and loss for futures positions based on tick movements, changes in the underlying asset prices and taking into account financial leverage. Proposes a specific hedging strategy for an industrial or mining company in order to eliminate price and market risks. Prepares and enters the appropriate types of trading orders with regard to market liquidity and depth. Evaluates investment opportunities in the area of commodities and environmental assets.
General competencies
The student chooses an appropriate methodological and analytical procedure when evaluating risks and investment opportunities in commodity markets and professionally justifies the proposed strategy for managing market risks and hedging commodities. Critically assesses market data, stock market media reports and analytical reports and responsibly makes decisions on capital allocation and risk management. Effectively cooperates in a team when solving case studies and simulated stock market transactions in an interdisciplinary environment. He is able to clearly communicate the results of market analyses, price predictions and recommendations. He continuously updates his expertise in the field of new market instruments, digitalization of exchanges and transformation of raw materials policy in a changing global environment.
After completing the course, the student will achieve the following learning outcomes:
Professional knowledge
The student defines the basic concepts, terminology and principles of organized exchange and over-the-counter trading in raw materials and commodities. Characterizes the main groups of traded commodities, including the specifics of their standardization. Identifies the mechanisms of operation and parameters of individual exchange and financial instruments. Explains the essence of fundamental and technical analysis in commodity markets. Classifies the basic types of commodity market participants and explains their market motivations and behavior during price crises or market anomalies.
Professional skills
The student demonstrates reading price charts and uses technical analysis tools to identify market trends and timing entry or exit from a trading position. Calculates profit and loss for futures positions based on tick movements, changes in the underlying asset prices and taking into account financial leverage. Proposes a specific hedging strategy for an industrial or mining company in order to eliminate price and market risks. Prepares and enters the appropriate types of trading orders with regard to market liquidity and depth. Evaluates investment opportunities in the area of commodities and environmental assets.
General competencies
The student chooses an appropriate methodological and analytical procedure when evaluating risks and investment opportunities in commodity markets and professionally justifies the proposed strategy for managing market risks and hedging commodities. Critically assesses market data, stock market media reports and analytical reports and responsibly makes decisions on capital allocation and risk management. Effectively cooperates in a team when solving case studies and simulated stock market transactions in an interdisciplinary environment. He is able to clearly communicate the results of market analyses, price predictions and recommendations. He continuously updates his expertise in the field of new market instruments, digitalization of exchanges and transformation of raw materials policy in a changing global environment.
Povinná literatura
Doporučená literatura
CLARK, Iain J. Commodity option pricing: a practitioner's guide. Wiley finance series. Chichester: Wiley, 2014. ISBN 978-1-119-94451-5.
DEMPSTER, M. A. H. a TANG, Ke (ed.). Commodities: fundamental theory of futures, forwards, and derivatives pricing. Second edition. Chapman & Hall/CRC financial mathematics series. Boca Raton: CRC Press, Taylor & Francis Group, [2023]. ISBN 978-1-032-20817-6.
KEENAN, Mark J. S. Advanced Positioning, Flow, and Sentiment Analysis in Commodity Markets. Wiley, 2020. ISBN 9781119603825 .
SCHOFIELD, Neil C. Commodity derivatives: markets and applications. Second edition. Wiley finance series. Chichester: Wiley, 2021. ISBN 978-1-119-34910-5.
DEMPSTER, M. A. H. a TANG, Ke (ed.). Commodities: fundamental theory of futures, forwards, and derivatives pricing. Second edition. Chapman & Hall/CRC financial mathematics series. Boca Raton: CRC Press, Taylor & Francis Group, [2023]. ISBN 978-1-032-20817-6.
KEENAN, Mark J. S. Advanced Positioning, Flow, and Sentiment Analysis in Commodity Markets. Wiley, 2020. ISBN 9781119603825 .
SCHOFIELD, Neil C. Commodity derivatives: markets and applications. Second edition. Wiley finance series. Chichester: Wiley, 2021. ISBN 978-1-119-34910-5.