Profession commodity trader

Commodity traders use negotiation techniques to sell and buy physical goods and raw materials such as gold, cattle, oil, cotton and wheat on the trading floor. They receive and implement purchasing and selling instructions and negotiate the terms of sale and delivery of commodities. Commodity traders do research about market conditions of specific commodities, their price trends and demand in order to inform their employers, they make bid offers and calculate the cost of transactions.

Personality Type

• Enterprising / Conventional

Knowledge

• Financial jurisdiction

  Financial rules and procedures applicable to a certain location, whose regulatory bodies decide on its jurisdiction

• Commercial law

  The legal regulations that govern a specific commercial activity.

• International trade

  The economic practise and study field that address the exchange of goods and services across geographic borders. The general theories and schools of thought around the implications of international trade in terms of exports, imports, competitivity, GDP, and role of multinational companies.

• Financial markets

  The financial infrastructure which permits trading securities offered by companies and individuals govern by regulatory financial frameworks.

• Economics

  Economic principles and practices, financial and commodity markets, banking and the analysis of financial data.

Skills

• Handle financial transactions

  Administer currencies, financial exchange activities, deposits as well as company and voucher payments. Prepare and manage guest accounts and take payments by cash, credit card and debit card.

• Perform financial risk management in international trade

  Evaluate and manage the possibility of financial loss and non-payment following international transactions, in the context of foreign exchange market; apply instruments like letters of credit.

• Negotiate sale of commodities

  Discuss client's requirements for buying and selling commodities and negotiate their sale and purchase in order to obtain the most beneficial agreement.

• Analyse market financial trends

  Monitor and forecast the tendencies of a financial market to move in a particular direction over time.

• Negotiate with stakeholders

  Negotiate compromises with stakeholders and strive to reach the most beneficial agreements for the company. May involve building relationships with suppliers and customers, as well as ensuring products are profitable.

• Analyse economic trends

  Analyse developments in national or international trade, business relations, banking, and developments in public finance and how these factors interact with one another in a given economic context.

• Analyse financial risk

  Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.

Optional knowledge and skills

Source: Sisyphus ODB