Study material for the "Energy Derivatives Trader Certificate (EDTC)" Exam

24.06.2020

According to the relevant provisions of the Financial Energy Market Rulebook (Derivatives Market) and Decision 3 "Members’ professional competence in the Financial Energy Market (Derivatives Market) of HEnEx", and following the relevant approval of the Examination Committee, the Hellenic Energy Exchange announces the following:

 Study material for the "Energy Derivatives Trader Certificate (EDTC)" Exam:

 1.       Financial Energy Market Rulebook (Derivatives Market)

 2.       Day-Ahead & Intra-Day Markets Trading Rulebook: Physical Settlement of Energy Financial Instruments and other wholesale energy products with the obligation of physical delivery (Chapter 6)

 3.       Rulebook for Clearing Derivatives Transactions of ATHEXCLEAR:

  • ATHEXClear duties and responsibility (Section I. Definitions – General provisions, par. 2.1), 
  • Clearing and Non-Clearing Members (Section II. Clearing of Transactions, par. 2.2-2.3),
  • Specific terms relating to Physical Settlement Declarations (Section II. Clearing of Transactions, par. 7.17), and
  • Cascade process (Section II. Clearing of Transactions, par. 7.18)

4.       Directive 2014/65/EU, Commission Delegated Regulation (ΕU) 2017/580, Commission Delegated Regulation (ΕU) 2017/590, Regulation (ΕU) 1227/2011, focusing on the following:

  • Basic definitions in financial instrument markets (Article 4 of Directive 2014/65/ΕU),
  • Firms eligible to provide investment Services or activities (Articles 2-4 of Directive 2014/65/ΕU),
  • Position limits and position management controls in commodity derivatives (Article 57 of Directive 2014/65/ΕΕ),
  • Basic principles for the maintenance of relevant data relating to orders in financial instruments (Table 2 of Annex of the Commission Delegated Regulation (ΕU) 2017/580),
  • Basic principles for the reporting of transactions to the competent authorities (Articles 1-9 of the Commission Delegated Regulation (ΕU) 2017/590),
  • Trade transparency (Articles 2-4 and art. 8 of the Regulation (ΕU) 1227/2011).

  5.       Additionally to the above, the following topics:

  • Financial Instruments – Derivatives (basic principles): futures, options.
  • Long hedging and short hedging, futures hedging, options hedging.

Details regarding the date of the exam that will take place in the upcoming period and the registration of candidates will follow.