Category Archives: Training

Faster than the speed of sound

How can you travel between New York and London faster than the speed of sound without a Concorde? Virtually, of course.  This weeks’ London Metal Exchange / Euromoney Learning introductory courses were scheduled for the New York time zone, but were relocated to the London time zone in the blink of an eye to fit better with attendees’ diaries. That simply would not have been possible with an in-person in-classroom course. It is yet another compelling reason why virtual training will continue even when we can resume classroom training.

“A robust, interactive, and engaging course. I found the experience really fascinating and this course went above and beyond my initial expectations.”   Nanhua Financial

Check out Upcoming Courses for a full schedule of 2021 dates and links to secure your place.

Prepare to engage

The London Bullion Market Association (“LBMA”) training course “Introduction to loco London” is delivered in a fully interactive virtual mode.  From the first moments right through to the end, participants are contributing, voting, working on exercises in smaller groups, and networking in the virtual coffee room.  This is not a session to have on in the background while multi-tasking.

Last weeks’ course was sold out, and attendees represented all sectors of the market.  Producers, refiners, central banks, investment banks, brokers, insurers, liquidity providers, investors and researchers all shared their unique perspectives and experiences.  Particular thanks go to those who gave up part of their lunch break to give behind-the-scenes colour and insights into the LBMA price auctions during an extended Q&A session.

“The style, structure, delivery etc. were excellent”

“Pauses and exercises made are well balanced with the theory. Very clear explanations.”

“Liked the course format.  I took a lot away from it.”

Further dates are being planned for 2021.  Keep an eye on the LBMA website and Upcoming Courses for links to find out more and to reserve your place.

All eyes on the US

Last week’s “Introduction to Loco London” course offered by  London Bullion Market Association (“LBMA”) was the first one offered in the US timezone, a well-timed choice given that the eyes of the world were on the US.  A slightly smaller group meant there was time for extra discussions and additional depth on topics that were of particular interest.

Online delivery definitely has it’s moments.  On the plus side, there were giggles when Stella, the New York cat, wandered across the screen.  And there was the heart-stopping moment when local internet congestion caused the presenter to drop out.  Zoom proved to be remarkably robust, reconnecting almost seamlessly.

This week’s course has sold out, and further dates are being planned for 2021.  Keep an eye on the LBMA website and Upcoming Courses for links to find out more and to reserve your place.

#preciousmetals

Five stars across the board

Feedback from today’s LMEEuromoney webinar was terrific – it was five stars from all the participants.  Today’s session looked at the impact of choosing options with different strike levels.  The questions posed during the webinar combined with the audience votes gave a genuine reflection of the different (and equally valid) risk management choices of the online participants.  It is evident that a core are regularly participating live, in addition to the many more who listen back to the recordings later.

“Fantastic course. Always very clear and informative”

The next webinar is scheduled for 19th January 2021 and will explore the second type of option product offered by the LME, the financially settled traded average price option (TAPO).  All webinars can be accessed here.

Virtual training during a Virtual LME Week

During a virtual LME Week, it was inevitable that last weeks’ London Metal Exchange / Euromoney Learning introductory courses were also delivered virtually.  The courses have benefitted from several previous outings in the virtual format and are constantly evolving based on feedback.  The sessions are definitely finding a niche among market participants who value the ability to learn and network with others without leaving their desks.

“The virtual course worked much better than I expected.
I feel I got everything out of the course I wanted.”
Sucden

“Well designed and very interesting course about LME hedging.  Special kudos to the trainer who was always open to answer any hedging related question. Highly recommend!”
Sberbank

Sadly the in-person in-classroom date in London in November had to be cancelled due to government restrictions, but the intention remains to deliver an in-classroom date when it is safe to do so.

The last 2020 courses are “in” New York (8-10 December).  Check out Upcoming Courses for a full schedule and links to secure your place.

Back to school

As UK children start to go back to school, it was a timely reminder that all of us should take time to improve our knowledge.  Today’s eighth webinar in the  LMEEuromoney series worked through a specific example of managing price risk with a LME traded option.  Particular attention was paid to what happens when an option is declared (i.e. exercised) or abandoned.  The range of potential outcomes was compared to using futures to manage the same risk to illustrate the differences between the two classes of instruments.

“Good informative webinar” Refinitiv

“Great to use working examples” Standard Chartered Bank

The next webinar is scheduled for 2nd November and will explore the range of outcomes when options with different strikes are used to manage a given risk.  All webinars can be accessed here.

 

 

10 out of 10 (almost)

The first “Introduction to Loco London” course offered by  London Bullion Market Association (“LBMA”) ran last week and feedback has been tremendous.

The attendees were an almost perfect cross-section of the bullion market.  Producers, refiners, central banks, bullion banks, vault operators, LPMCL members, physical traders, mints, investors and researchers were all represented.  Several contributed their own professional experience which added an extra dimension to the discussions.

“The course was really well delivered with a great facilitator who kept us all engaged throughout the day.” Royal Canadian Mint

 “Clear, concise, easy to understand. Excellent use of time. Plenty of attention to answering questions. I thought the content was just the right blend on topics.” Goldmoney

“The level of engagement was spot on, not too much, not too little. Very well done and thank you for the unique experience.” ICBC Standard

“The trainer spoke clearly and it was easy for a non-native English speaker to understand” Paloma Precious

Detailed comments from this first group have been acted upon already and the next course should be even closer to that elusive perfect 10.

Check out Upcoming Courses for links to find out more and to reserve your place.  Note that September has almost sold out already, and dates for New York and London timezones are both offered in November.

London Calling

This week’s London Metal Exchange / Euromoney Learning introductory courses were nominally “in” London, but attendees were in Dubai, New Jersey, Johannesburg, Zug, Dublin and a dining room in Essex, as well as in London.  The occasional cute unregistered attendee Zoom-bombed their parents with a shy look at the screen and a timid wave before running away.  Who knew that home schooling could include LME derivatives?

A very well structured course … with a very knowledgeable and engaging speaker” Bank of England

“I was sceptical of how effective a Zoom course could be, having attended a classroom course before. However I was pleasantly surprised at how well organised this one was. I would consider a Zoom course again.” BNP Paribas

“This course helped me immensely” Afrimet Resources

The next virtual courses are “in” Dubai (15-17 September) and “in” London (20-22 October, LME Week).  The next in-classroom course is scheduled for London, 23-25 November, subject to government and health and safety guidelines.  Check out Upcoming Courses for a full schedule and links to secure your place.

Going (or not going) Dutch

A series of training courses scheduled for Amsterdam were an early casualty of COVID-19. With less than 24 hours to go before the flight, measures to limit the virus spread meant the courses could not proceed.  The courses were reconfigured for virtual delivery and went ahead over the last fortnight. 

“Although, we planned to make this as a physical meeting months ago, it was also very convenient this way.”

“Thanks for the really appreciated training, excellent presentation, Zoom organization and cherished energy“

Course feedback confirmed that many participants found the virtual delivery better than expected, and almost all see a role for virtual training continuing even when in-person in-classroom training can restart.

Check out Upcoming Courses for our full course schedule.

 

 

Silver (and golden) lining

Since the beginning of the year, the ominous cloud that is COVID-19 has expanded to cover the entire globe.  They say every cloud has a silver lining, and COVID-19 has proved to have a silver and golden lining.

The London Bullion Market Association (“LBMA”) engaged us to design and deliver an in-classroom training course on the basics of the loco London precious metals market for launch towards the end of 2020.  Due to the outbreak of COVID-19, the course has been reconfigured for virtual delivery with course dates brought forward to July and September.  The LBMA volunteered its own staff for a test run last week, and feedback was tremendous.

“Interesting for those with no previous knowledge whilst also being insightful for those already working within the industry”

“Activities and break-out rooms were used effectively to consolidate information learnt”

“100% would recommend this to anyone in the industry”

Check out Upcoming Courses for links to find out more and to reserve your place.