Singapore Comm trading program

Discussion in 'Educational Resources' started by BlueHorseshoe, Jul 12, 2006.

  1. FYI: Singapore Gov't launching Commodity trading program - hey, it's policy!

    S'pore ups drive to be top trading hub, launches tertiary course for traders
    By Wong Choon Mei, Channel NewsAsia

    SINGAPORE : Singapore is stepping up efforts to become a top international trading centre.

    It has launched a trading course at one of its universities to meet demand for specialist dealers, especially in the commodities and energy fields.

    The programme is supported by government agency IE Singapore and nine private-sector trading firms.

    Singapore is home to more than 180 top international trading companies.

    Last year these firms pushed through a total of US$225 billion in physical trade.

    But a government minister says for the next phase of growth to take place, more infrastructure is needed, beginning with the availability of skilled staff.

    "The point is that this is an industry that is fast moving, with a lot of growth and employment opportunities. But one of the key restraining factors is the availability of talented traders. By growing a steady pool of quality trading professionals, Singapore will be able to provide the necessary pool of expertise for companies to draw upon, " said Minister of State for Trade & Industry S. Iswaran.

    The industry currently hires about 1,500 trading professionals.

    The new trading course will be conducted by the Singapore Management University and it expects to see strong demand for places.

    Hands-on training at overseas centres will be included in the curriculum.

    "We have always fixated about screen based trading. But when it comes to trading commodities, it's no longer screen based. So that's the beauty of this whole training programme, it's not screen based. It's to go and see where the flows are," Annie Koh, Associate Dean of SMU.

    Corporate governance issues will also be emphasised.

    "My word is my bond is the tradition of trading. A good trader has got to analyse markets, has got to be able to interpret information, to communicate with people, have good communication skills, to understand producers and understand suppliers, to understand the logistics of moving commodities around the world," said Chris Pardey, MD of Noble Resources.

    Each of the nine sponsor firms have pledged S$30,000 annually over the next three years for scholarships, internships and research.