Saturday, November 27 2021

Job seekers will need to be quick-witted, digitally capable and able to negotiate.

What does a commodity broker do? Diploma and training | Core skills

Traditionally, commodity brokers buy and sell commodities such as petroleum, grains, metals, sugar, and coffee on behalf of their clients. However, commodity brokers now also trade complex financial products (derivatives) based on a wider range of assets, including stocks, stocks, stocks and bonds, with the idea of ​​obtaining a financial return. important. Typical responsibilities include:

  • monitoring of international market performance
  • provide investment advice and market recommendations to clients
  • trading on behalf of clients
  • liaison with transport, shipping and insurance companies
  • design “hedging strategies”
  • visit international suppliers
  • meeting with clients
  • interpretation of market reports
  • negotiate price, specifications and delivery details
  • investigate new business openings.

Employers of commodity brokers include investment banks, financial clearinghouses, and exchanges such as the London Metal Exchange (LME), ICE Futures, and Euronext.

Commodity brokerage is a career that offers high levels of responsibility, good promotion opportunities, and impressive financial rewards, including generous salaries and large bonuses. However, long working hours and high stress levels are common.

Most of the opportunities are in London and other major cities. Vacancies are advertised by guidance services, financial recruitment agencies, The London Evening Standard, The Financial Times, national newspapers and trade publications such as The Economist. Early applications to major employers are recommended. It is essential to undertake relevant industry / company research, attend presentations and network.

Qualifications and training required

Commodity brokers are generally graduates and it can be more difficult for young people who leave school to find employment in this occupation. However, school leavers have the option of undertaking basic studies to obtain qualifications with the Chartered Institute for Securities and Investment (CISI), which do not have formal entry requirements. You can then study for higher level diplomas to become a CISI member. It may take you several years to become sufficiently qualified at the level that employers want.

Graduates typically join a graduate program with an employer and may have a degree in any discipline (min 2.1), although qualifications in management, business, finance, or math may be preferred. A number of institutions offer specialist postgraduate qualifications, which can be advantageous, as can relevant work experience gained through on-the-job shadowing, internships or internships. It is advisable to complete the qualifications to become a CISI member as this shows commitment to the profession and can improve employment prospects. Computer literacy is essential because the majority of transactions are now automated.

Key skills for commodity brokers

Recruiters typically have a long and rigorous application process designed to identify motivated graduates who possess exceptional personal qualities and intellectual abilities. To be successful, candidates must be ambitious, determined and able to deal with stress. On top of that, you need to be quick-witted, digitally capable, and able to negotiate. Learn more about the skills you need for graduate banking and investing programs.

Next: search for internships and jobs for graduates

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