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DIPLOMA IN COMMODITIES MARKET (DICM)
Globalization and liberalization of
Indian economy has brought in its wake many sweeping changes in
various sectors of the economy. Commodity markets are not an
exception to this. Winds of change have totally transformed the way
the commodity markets used to function. Futures trading, which was
kept under wraps under stringent regulatory framework - almost for
three decades (except for intermittent trading that was allowed –
that too selectively in some commodities), was unveiled three years
back in the form of demutualized “state of the art” commodity
exchanges. The result of this is there for anybody to see. The
futures trading has sprung back with great alacrity witnessing all
round growth – almost beyond the expectations of most experts and
players in the field of commodity markets.
Investment in Commodity futures is
offering an attractive alternative to investment in stock markets
and real estate. Commodity markets in general and trade in commodity
futures in particular has therefore witnessed a spectacular growth
in the last two years in the country. It is said that “figures speak
for themselves”. This is true of the growth in futures trade in
commodities too. According to the figures available from Forward
Markets Commission (FMC), the turnover of all commodity exchanges
has increased from Rs. 66,530 crore in the year 2002-2003 to Rs.
21,34,470 crore in the year 2005-2006 and over 30,00,000 crore in
the year 2006-07i.e. more than forty times in four years!
As a result of this outstanding
growth, a number of job opportunities have been created. “This is
also reflected in the increasing number of companies that are
approaching us for recruiting our students. Most of the brokerage
houses, which were dealing with exclusively stock market have either
started commodity desks or are in the process of establishing them
soon. They require trained manpower apart from the commodity
exchanges, who have also recruited our students” according to Prof.
Anil Mendhi who heads the Department of Commodities Market at
Welingkar and is a known authority on the subject.
Jointly with MCX, Welingkar Institute
has successfully completed six batches of its Diploma in Commodities
Market (DICM) and starting the seventh batch in Mumbai from January
5th 2008. The Institute has also conducted this course in
Bangalore and Pune. In all over 1000 students have completed this
course from various centers. This number is far less than the
estimated requirement of 40,000 professionals in the country in the
coming year itself.
The response to the course has been
overwhelming in Mumbai. The participants of the course have a very
diverse profile. They include working executives from Banks and
brokerage houses, students who are doing or planning to do their
post graduation (mainly in management) besides a few retired
professionals and housewives, who would like to explore new
alternatives of investing their savings for better returns. Many
students who are aspiring for admissions to leading Business schools
prefer to complete this course as an added advantage first for
admissions and then for placement with investment bankers or large
brokerage houses.
In Mumbai there are two concurrent
batches of DICM running. Sessions are conducted over the weekdays
(Tuesday, Wednesday and Thursday) for one batch and over the weekend
(i.e. on Saturday and Sunday) for the other batch. Intake of each
batch is restricted to a maximum of 60.
We start a fresh batch in Pune,
Bangalore or Delhi only after a minimum of 20 students register for
the course at these centers. We intend to start a new batch in May
2008 in Pune to coincide with the summer training period of students
from business schools. Many business schools as also large corporate
entities have shown interest in conducting seminars and DICM courses
at their premises.
Some of the reasons why more and
more professionals and students are attracted to this course are:
-
Commodity derivatives are fast
emerging as one of the alternatives to invest money as a part of
one’s portfolio of investment to earn money through speculation.
-
Commodity markets give better
returns than stock markets since the margin money required is
less.
-
World-over, commodity markets’
turnover is at least five times that of the stock market.
-
DICM becomes an added
qualification for a student if he / she is planning to do post
graduation.
Broadly the course contents are
divided in three sections as follows:
Understanding of
Commodity Markets:
Introduction
to Commodity Markets, Stock & Commodity Markets - A Comparison,
Introduction
to MCX, Global & Indian Commodity Exchanges, Forex & Commodity
Markets, FDI &
FII, Regulatory Issues.
Derivative Products, Trading, Market
Mechanism, Risk Management (with exercise and examples):
Introduction to Derivatives, Commodity
Futures and Options, Trading Strategies using Commodity Futures &
Options, Trading Mechanism at Commodity Exchanges, Risk Management
and Surveillance, Clearing Settlement & Delivery, Investment
Opportunities in Commodity Markets, Importance of Risk Management in
Commodity Trading, Setting up of Commodity Desk, Banks, Warehousing
& Commodity Trading, Accounting & Taxation, Technical Analysis.
Online
Simulated Trading & Fundamental Analysis
Understanding commodities (Fundamental Analysis), Case
Studies and Simulated Trading
Salient features of the
course:
This is still the only course of its
type being conducted by a management institute in India along with
the largest commodity exchange in the country.
It has international content since we
brief the students about the practices followed by overseas
commodity exchanges. Usually we take one additional session on
currency derivatives so that the students understand how to hedge
risks against fluctuations in currency rate in the context of
trading on international commodity exchanges.
Apart from the experienced faculty of
Welingkar and MCX, we invite industry professionals to take
specialized sessions. For example, the session on regulatory issues
is taken by a person at Director’s level in Forward Markets
Commission, which is the regulatory authority for commodity markets
in India. A session on practical usage of technical analysis is
taken by a practicing technical analyst from the industry.
On - hands training is imparted to the
participants of this course through simulation game. This course is
available in the form of a Distance Learning Program (DLP) also.
Thus executives / students from various cities other than Mumbai can
enroll for the DLP and learn about commodity markets at their
leisure sitting in the comforts of their own offices or homes!!
Eligibility:
Graduation in English Medium
Duration: 100 hours (3 months)
Fees:
Rs. 25,000 (Rs. Twenty Five Thousand only) for classroom mode and Rs.
15000 (Rs. Fifteen Thousand) for Distance learning mode
Admissions: Currently on for Mumbai Batch.
Please watch for a date for free
seminar on “Career Opportunities in the field of commodity markets”
at the venues in Mumbai, Pune and Bangalore. For further details of
the course, one can log on to the websites of Welingkar (www.welingkar.org)
or MCX (www.mcxindia.com)
or directly contact the Institute at:
Contact Details:
Prof. A. G. Mendhi, Head (Commodity Markets)
Prin. L. N. Welingkar Institute of Management Development &
Research,
Lakhamsi Napoo Road,
Matunga [East],
Mumbai 400 019.
India
Tel: +91-22-2417 8300 Extensions: 450 or 460 or 203 |
