Argus Coal Swaps Trading Course

www.argusmedia.com
Argus Coal Swaps
Trading Course
18-19 July 2011 • The Westin Beijing • China
China imported 166mn t of coal in 2010, an increase of 32% from the previous year. Around 2bn t traded on global coal
swaps markets in 2010, with Asia accounting for around 200mn t. As China increases its coal imports, domestic firms
face an urgent task to understand international physical and swaps trading rules, physical hedging on international swaps
markets, import costs and risk control.
In response to this demand, Argus will organise a Coal Swaps Trading Course in Beijing on 18 and 19 July, 2011. The
course will focus on coal swaps trading rules and give a comprehensive introduction and demonstration from basic
theory to the practice of coal swaps trading, including a choice of swaps hedging strategies. Options trade, credit risk
management for financial swaps trading and the legal issues involved will also be discussed in the seminar
This two-days course will provide a comprehensive introduction to the following issues:
1. International physical coal market introduction
• Recent trends in the international coal markets
• US coal exports
• European coal market
• Freight market trends
• Physical Coal Supply/Demand fundamentals
Henry Liew, ED, JPMorgan
2. Basics of hedging
• The concept of hedging
• Why should coal producers, traders and consumers
hedge?
• Coal hedging examples
• What do you need to consider before hedging
• What hedging strategies are available?
• How to Design your own hedging strategy
Jennifer Jiang, ED, JPMorgan
3. Introduction to financial coal swaps
• What are financial swaps?
• What are the financial coal swaps?
• Coal Swap implications: Fixed price and Floating
price coal cargoes
• Coal Swap trading/hedging examples
• Understanding mark to market from Swap positions
James Luo, VP, JPMorgan
4. Coal options trading and hedging
• Options Pricing Basics
• Coal Options: Call, Put, Call Spread, Three-ways,
Enhanced Three-ways, Target Redemption, Extendible
• Coal Options Structures
• Coal Options Examples
• Monetize the optionalities in physical coal contracts
Zhaotan Xiao, ED, JPMorgan
5. Coal market risk management
•
Inherent risks and opportunities in commodities
business
•
How to identify market/price risks in physical and
financial coal transactions
•
What are the common used risk measures to
monitor and control market risks
•
How to establish an effective market risk management framework (organizational model, infrastructure and process) for a commodities trading floor
•
Comparison of market risk management approaches taken by commodities trading companies vs. investment banks
Shaun Tang, VP, JPMorgan
6. Commodities credit risk management
•
Investment bank’s credit risk management: Holistic Risk Thinking
•
Risk Analysis Framework & Credit Analysis
•
Major Credit / Risk Issues in Coal Trading
•
Coal Trading Documentations
John Li, VP, JPMorgan
7. The Index and the usage in the coal market
Abdul Hadhi, Editor, Coal and Petcoke - Asia Pacific
8. Introduction to JPMorgan commodities business
Mansoor Sheikh, MD, JPMorgan
Argus is a leading provider of price assessments, business intelligence and market data on the global petroleum, natural
gas, coal, electricity, emissions and transportation industries. It has one of the largest team of coal reporters in the world
and provides benchmark pricing and market-sensitive news from Europe, the Americas, Russia and Asia-Pacific. For
more information visit www.argusmedia.com.
For event enquiries and registrations, please call +86 10 6515 6512 or email: [email protected]
Argus Coal Swaps Trading Course
18-19 July 2011• Beijing • China
www.argusmedia.com
Registration | Payment | Accommodation
To Register
Tel:
+86 10 6515 6512
Email:
[email protected]
REGISTRATION FORM
COMPANY DETAILS
Company Name:
+86 10 65156513
DATES AND VENUE
18-19 July 2011
The Westin Beijing Financial Street
9B Financial Street,XiCheng District
Beijing, China, 100140
Tel: (86) 010-6606 8866
Web: www.westin.com/beijingfinancial
Address:
Postcode:
Main Business/Activity:
DELEGATE 1 DETAILS
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Delegates are responsible for their hotel and
visa arrangements.
ENQUIRIES AND REGISTRATIONS
Tel:(86) 010 6515 6512
Email: [email protected]
Web: www.arguschina.cn
REGISTRATION TERMS AND CONDITIONS
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Special dietary requirements (if any):
DELEGATE 2 DETAILS
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REGISTRATION FEE
RMB￥13,800 per person / USD $2,200 per person
Register in a group of 2 or more from the same company can
enjoy a 10% discount off the total registration fees.
* Full fee includes two-day pass to participate at all sessions,
networking luncheon and refreshment breaks on both days, and one
set of conference documentation. Travel, accommodation and visa
costs are not included in the conference fee
PAYMENT (Please select method of payment)
Credit Card
Bank transfer
USD
Fax:
RMB
REGISTRATION CONDITIONS
• All registrations must be on the prescribed form or in
writing and will be on a confirmed basis unless otherwise
notified in writing.
• Argus Media reserves the right to refuse the registration
of any individual or company.
• Argus Media reserves the right to impose conditions of
entry for walk-in delegates, including refusal of entry.
• The registrant acknowledges that photographs taken at
the conference, which may include their image, may be
used in future promotional material.
PAYMENTS
Payment must be received 10 days prior to the event.
Attendance will only be permitted upon receipt of full
payment. If the payment has not been received, then credit
card details will be requested at the registration desk on the
day of the event.
CANCELLATION AND SUBSTITUTION
• Cancellations notified in writing by letter and
acknowledged by 7 July 2011 will be levied an
administrative fee of 10%.
• No refund will be given after 7 July 2011, but delegates
can be substituted if the organiser receives prior
notification.
• Argus Media reserves the right to alter the programme
without notice including the substitution, alteration
or cancellation of speakers and/or topics and/or the
alteration of the dates of the event.
• Argus Media is not responsible for any loss or damage
as a result of a substitution, alternation, postponement or
cancellation of an event.
• Argus Media will not accept liability for non-approval of
visas, individual transport delays and transport disruption,
and in such circumstances, our normal cancellation rules
and penalties apply.
FORCE MAJEURE
Please note that in the case of force majeure, Argus
Media is relieved of all obligations. Force majeure includes
any circumstance beyond the will of Argus Media that
impedes permanent or temporary compliance with the
obligations, such as “acts of god” including war, danger of
war, government regulations, revolts, strikes, transportation
difficulties, fire, or severe disturbances affecting the
congress organisation or its suppliers.