Electronic Trading - Evening

This course is intended to give participants the basic skills required to trade futures contracts electronically. Individuals with previous knowledge of futures will gain from the hands-on approach utilized in this course. Each student will have the opportunity to operate an electronic trading platform identical to platforms used by professional futures traders and trade in a ''live'' environment based on contracts traded at the Chicago Board of Trade.

29-May-2012 -- 01-Jun-2012ChicagoUSD$1675
NY Institute of Finance - Chicago5:45pm - 8:15pm Instructional Method:
Group-Live
Instructor(s): [ Angelo Vignola; ] Tue Wed Thu Fri Level: Basic

CPE CREDITS
10.0
Anyone interested in trading commodities, including newcomers to the future market, trading floor personnel and clerks.
No advance preparation required.
Students will be able to:
  • Successfully operate an electronic trading platform
  • Manage and create trading positions
  • Counterbalance trades
  • Enter and exit spread positions
  • Understand the basics of the futures industry and terminology
Some prior knowledge of the futures market
LIMITATION OF LIABILITY AND DISCLAIMER
WHILE NYIF ENDEAVORS TO PROVIDE PROGRAMS THAT ARE CURRENT AND UP-TO-DATE, THESE PROGRAMS, AND THE ASSOCIATED COURSEWARE, ARE PROVIDED ON AN "AS IS" BASIS. TO THE MAXIMUM EXTENT PERMITTED BY LAW, NYIF DISCLAIMS ALL WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, OR OF A PARTICULAR RESULT. NYIF DOES NOT WARRANT THAT ANY PROGRAM OR ITS COURSEWARE WILL MEET ANY PARTICULAR REQUIREMENTS OR NEEDS, OR THAT THE CONTENT OF OR COURSEWARE FOR ANY PROGRAM WILL BE ERROR-FREE. NEITHER NYIF NOR ITS LICENSORS SHALL HAVE ANY LIABILITY WITH RESPECT TO ANY LOSS OR DAMAGE CAUSED OR ALLEGED TO HAVE BEEN CAUSED DIRECTLY OR INDIRECTLY BY RELIANCE ON THE CONTENT OR ANY COURSEWARE FOR ANY PROGRAM PROVIDED BY NYIF, INCLUDING, BUT NOT LIMITED TO, LOSS OF CONSULTING OR ANTICIPATORY PROFITS, OR CONSEQUENTIAL DAMAGES. IN ADDITION, WHILE NYIF ENDEAVORS TO PROVIDE PROGRAMS THAT ARE CURRENT AND UP-TO-DATE, BY ENROLLING IN THE PROGRAM(S) IDENTIFIED ON THIS FORM, YOU ACKNOWLEDGE THAT THIS/THESE PROGRAM(S), AND THE ASSOCIATED COURSEWARE, ARE PROVIDED ON AN "AS IS" BASIS, AND THAT NYIF MAKES NO WARRANTIES OF ANY KIND THAT SUCH PROGRAM(S) AND COURSEWARE WILL MEET ANY PARTICULAR REQUIREMENTS OR NEEDS, OR THAT THEY WILL BE ERROR-FREE. THE LEGAL TERMS ON OUR WEBSITE CONTAIN ADDITIONAL IMPORTANT DISCLAIMERS REGARDING OUR PROGRAMS AND COURSEWARE, AND BY COMPLETING THIS ENROLLMENT FORM, YOU ACKNOWLEDGE THAT YOU HAVE READ AND UNDERSTOOD THOSE DISCLAIMERS.
Session One: How the Futures Market Operates
Review and Introduction

    Difference Between Forward Contracts and Futures Contracts

      Mechanics of a Futures Contract

        Clearing Corporation

          Margins

            Order Types

            • Limit
            • Market
            • Stop
            • OCO
            • GTC

Session Two: Participants within the Futures Market
The Function of Each Participant

    Marking to Market

      Volume and Open Interest

        Contract Specifications

          Daily Limit Prices and Why They Exist

            Directional Trades

              Spread Trades

Session Three: How an Electronic Trade Occurs
First Half of the Class:
  • Each delegate will utilize the trading platform

Second Half of the Class:

  • Order priority with the electronic platform
  • Price time priority
  • Pro rata
  • Restricted openings
  • Canceling orders
  • Pre-open orders
  • Addressing computer problems
  • Settlement prices
  • Delivery months
  • Contract size and price
  • Trading hours

Session Four: Entire Session Devoted to Trading on the System (Hands On)
    Each delegate will complete a series of round-turn trades in various futures contracts within the class session.

Clients who register for this course will receive a complimentary 4-month subscription to FT.com. The Financial Times is the world's most respected financial newspaper, providing a broad assessment on finance, business and the industrial sector. The move to the electronic version follows an ongoing review of our environmental responsibilities as a global business and as part of the Pearson group. FT.com also has features that are not available in hard copy, such as: Special Reports, Alphaville, editor blogs, education sections and much more! Subscriptions will start within 6-8 weeks of the start of class and are limited to one subscription per client. (Please note: as of May 1, 2011, the electronic subscription replaces the hard-copy 3-month Financial Times subscription.)

Lunch is included for all students taking day classes.