Commodity Trading Body of Knowledge

The trade, written down at last.

A practitioner-built, self-paced course in commodity trading: the physical deal, operations, finance, risk and markets, brought together in one path, with realistic cases, simulations and sources for every lesson.

Free with Google sign-in. No card needed.

14core modules
~150 hof study
One-offno subscription
Energy· Agriculture· Metals · Trade

01 — A lesson

Learn it the way the desk learns it.

Every lesson follows the same five steps. Click through a real extract, including a working calculator.

The case
Three cargoes, one treasury
Company Lacustre CommoditiesPlace GenevaWhen Monday, 07:40

Two Panamax cargoes of soybeans bought FOB Santos, a diesel cargo sold on 60-day terms, and copper to store for six months.

None of it can be paid for with the company’s own cash.

Open question: how much funding does the book need, for how long, and against what?
Realistic simulation · fictional company
Core concepts
Borrowing base facilities
1/4
A revolving loan secured on a pool of inventory and receivables, recalculated as the pool changes.
2/4
Advance rates and haircuts reflect asset quality, price risk and the lender’s control of the goods.
3/4
Eligibility criteria decide which assets count at all.
4/4
Treasury manages headroom continuously, not at month end.
Sources cited in this lesson include LMA facility documentation and ICC rules.
Try it
Borrowing base calculator
Borrowing base
Availability
Check · question 3 of 5
Under UCP 600, how long does a nominated bank have to examine a presentation?
Choose an answer.
References · extract
Sources for this module
  • ICC, Uniform Customs and Practice for Documentary Credits, UCP 600 · ICC rules
  • ICC, International Standard Banking Practice, ISBP 821 · ICC rules
  • ICC, Incoterms® 2020 · ICC rules
  • IFRS 9 Financial Instruments · Accounting
  • BAFT and ITFA, Master Risk Participation Agreement · Market standard

02 — Who it helps

See beyond your desk.

Most people learn commodity trading on the job, one desk at a time. Structured programmes exist, mainly university certificates taught on campus, but they are few, scheduled and costly. commoBOK brings the disciplines together online: practical, self-paced and affordable.

OutsideFew accessible ways in HiredTraining starts on the job One deskDeep, but local knowledge Years laterOther disciplines still unclear
  1. OutsideFew accessible ways in
  2. HiredTraining starts on the job
  3. One deskDeep, but local knowledge
  4. Years laterOther disciplines still unclear
NewcomersGet through the door

Arrive at interviews already speaking the language of the trade.

  • Read a physical contract and its Incoterms
  • Follow a cargo from purchase to payment
  • Explain how a trade is financed and hedged
ProfessionalsConnect the disciplines

See operations, finance, risk and legal as one system.

  • Understand what other desks need from you
  • Size financing and hedges for a deal
  • Spot document and credit risks early
Experienced staffDocument what you know

Check your experience against a structured framework.

  • Fill the gaps your career skipped
  • Earn module certificates as you go
  • Take the path exam when ready
03 — Curriculum

Fourteen core modules. Seven extensions.

The core path is complete at launch. Extension modules follow over the next twelve months; they are optional and never change what the path certificate requires.

Core path · available at launchExtension · plannedFree lesson inside
At launchAll 14 core modules

About 150 hours of study: roughly three hours a week completes the path within a year.

Path examAvailable from day one

It covers the 14 core modules only, so nothing you need is still to be released.

Next twelve months7 extension modules

Included in the full path if released while your access runs, each with its own optional certificate.

Launch list open

Commodity Trading Professional

The disciplines of a commodity trading company in one path, from the physical deal to finance, risk, compliance and the main markets.

  • Core modules14, all at launch
  • Extensions7, optional, over 12 months
  • Study time9–12 hours per module
  • CertificatesPer module, path exam
In development

CTRM Professional

For those who build, implement or run the systems behind commodity trading: trade capture, positions, logistics, settlement, risk and the data that ties them together.

  • AudienceAnalysts, product owners, consultants, IT
  • Builds onCommodity Trading Professional
One e-mail when the path opens. Nothing else.
Why commoBOK exists
“The knowledge that runs this industry exists, but it is scattered across desks and companies. commoBOK brings it together in one structured place.”
The founder: twenty years in commodity trading systems and operations, working with trading houses including Glencore, Mercuria, COFCO and ADM.
About commoBOK

commoBOK, short for Commodity Trading Body of Knowledge, is a practitioner-developed framework built on industry standards and on the academic literature used in the few university programmes that teach the subject. It comes from twenty years in the field, and from seeing how little accessible reference material exists for people starting in commodity trading, or for experienced professionals who want to extend what they know.

Training usually begins only once you join a trading company, and day-to-day work rarely leaves time to learn the other disciplines. Our aim is to build, module by module, a broad and practical reference for people who want to enter the industry, deepen their knowledge, or document their experience.


04 — Pricing

Priced for individuals, not trading houses.

Pay once, no subscription. Purchases open when all 14 core modules are published; join the launch list to hear first. Prices in EUR; VAT added where applicable.

Single module
€90one-off

One module of your choice, with 12 months of access.

  • Any one module
  • 12 months of access
  • Module certificate
Join the launch list
Three modules
€225one-off

Any three modules, for a focused theme. €75 each.

  • Any three modules
  • 12 months of access
  • Module certificates
Join the launch list
Best valueFull path
€690one-off

All 14 core modules and the path exam. About €49 a module.

  • 14 core modules
  • Path exam and path certificate
  • Extensions released during your access
  • 12 months of access
€570 less than buying the modules one by oneJoin the launch list
Launch listBe told the day the path opens.

One e-mail at launch. The free lessons are open now.

Teams and companies: ask about group accessPayment by Stripe · invoice with every purchase
Path exam+certificate Dashed: optional extension certificates
Certificates

What a certificate confirms.

  1. Module certificateEvery lesson check in the module passed at 80% or more. Lists the subjects studied.
  2. Path examA final exam across the 14 core modules, open once all their certificates are earned.
  3. Path certificateAwarded on passing the exam. Extensions earn separate, optional certificates.
  4. VerifiableEach certificate has a code that anyone can check online.

Issued by commoBOK. Certificates confirm completion of commoBOK’s assessed course work. commoBOK is not an accredited body, and its certificates are not a regulated or independently assessed professional qualification.

05 — FAQ
Can I complete the path within a year?

Yes. The 14 core modules take about 150 hours, roughly three hours a week. All of them, and the path exam, are available from launch.

What if new modules are released after I start?

Extension modules are optional. If you bought the full path, those released while your access runs are included at no extra cost. They earn their own certificates and never change what the path certificate requires.

What happens when my access ends?

Your progress and certificates are kept. Renew or buy again to continue where you left off.

Are the cases real?

The recurring cases are realistic simulations built from practitioner experience; the companies and people in them are fictional. Documented market events and court cases are labelled as such, with their sources.

Who issues the certificates, and are they accredited?

commoBOK issues them. They confirm that you passed the assessed checks of the course. They are not accredited and are not an independently assessed professional credential.

Is there a subscription?

No. Every option is a one-off payment with 12 months of access. The full path is the better value if you plan more than seven modules; a single module suits a specific need, and is often easier for an employer to reimburse.

What if I need more time?

You can extend your access for a further six months for €49. Your progress and certificates are always kept.


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