side images






    Curriculum

    1. Introduction to Commodity Markets
      • History of Commodity Trading
      • Spot and Derivatives Trading in Commodities
      • Major Commodities Traded in Derivatives Exchanges in India
      • Participants in Commodity Derivatives Markets
      • Commodities Trading vis-à-vis Trading in Other Financial Assets
      • Commodity Markets Ecosystem
      • Commodity Market Indices
      • Factors Impacting the Commodity Prices
    1. Commodity Futures
      • Introduction to Futures
      • Distinction between Forwards and Futures
      • Cost-of-Carry
      • Convergence
      • Fair Value of a Futures Contract
      • Convenience Yield
      • Commodity Futures and Commodity Forwards
      • Pay-off profile for Futures Contracts
      • Spot Price Polling
    1. Commodity Options
      • Introduction to Options
      • Option Terminology
      • Pay off Profiles of Options Contracts
      • Determinants of Option Premium
      • Options on Commodity Futures
    1. Uses of Commodity Derivatives
      • Hedging
      • Long Hedge and Short Hedge Strategy: Using Futures
      • Speculation
      • Arbitrage
      • Spread Trading
      • Basis
      • Option Trading Strategies
    1. Trading Mechanism
      • Membership on Commodity Derivatives Exchange
      • Trading System in Commodity Derivatives Exchanges
      • Selection Criteria of Commodities for Trading on Derivatives Exchanges
      • Contract Specifications for Various Commodity Derivatives Contracts
      • Profit/Loss per Contract for a Change of One Tick
      • Order Types and Conditions
      • Tracking Commodity Futures and Options prices
    1. Clearing Settlement and Risk Management of Commodity Derivatives
      • Clearing and Settlement
      • Delivery Process
      • Entities Involved in the Clearing and Settlement Process
      • Premium/Discount
      • Penalty for Delivery Default by the Seller
      • Deliveries in the Case of Physical Delivery
      • Risk Management for Exchange Traded Commodity Derivatives Markets
      • Position Limits and Computation of Open Position
      • Salient Features of Risk Containment Measures
      • Margin Mechanism
    1. Accounting and Taxation
      • Important Accounting Aspects related to Trading in Commodity Derivatives
      • Guidance Note Issued by ICAI on Accounting Treatment of Derivative Transactions
      • Important Tax Aspects related to Trading in Commodity Derivatives
    1. Legal & Regulatory Environment of Commodity Derivatives in India
      • Regulatory Structure of Commodities Market
      • Securities Contracts (Regulation) Act, 1956
      • Securities and Exchange Board of India Act, 1992
      • SEBI’s Code of Conduct for Brokers
      • Risk Disclosure to Client and KYC
      • Investors Grievance Redressal Mechanism