Commodities Master Class

Ken Abbott, Morgan Stanley

Baruch MFE Program

Saturday, November 16, 2013

 Registration is closed

The Baruch MFE Program is pleased to offer a one-day Master Class on Commodities taught by Ken Abbott, Managing Director and Chief Operating Officer, Firm Risk Management, Morgan Stanley, on Saturday, November 16, 2013.

This Master Class will provide attendees with an introduction to commodities markets and commodities trading with an emphasis on energy.  There will be a particular focus on the impact of recent legislation on banks.


Oil Liquids

  • Formation of oil
  • Basics of exploration
  • Basics of oil refining
    • Fractional distillation
    • Refinery types
    • Petrochemicals
  • Transportation
    • Pipelines
    • Tankers
  • Oil consumption trends

Natural gas

  • Extraction
  • Transportation
  • NG Markets


  • The basics of power generation
  • The basics of power transmission
  • The role of Reliable Transmission Organizations (RTOs)
  • The basics of Locational Marginal Price (LMP).
  • Power markets and products


  • Precious vs base
  • Extraction
  • Markets


Key analytical concepts

  • Backwardation and Contango
  • Storage
  • Production optionality
  • Seasonality
  • Mean reversion
  • Correlation structure

Environmental Issues



Ken Abbott is a Managing Director at Morgan Stanley in New York, where he is the Chief Operating Officer for Firm Risk Management. In addition, he also supervises legal entity risk management for Morgan Stanley and is the senior risk officer covering the buy side. Previously, he ran market risk management for Bank of America’s Investment Bank. He has over 30 years banking experience, including 14 years at Bankers Trust as an analyst, trader, and risk manager. Ken has a BA from Harvard in Economics, an MA from NYU in Economics and an MS from NYU/Stern in Statistics and Operations Research. He sits on the GARP Board of Directors.

Ken is very generously volunteering his time and will not charge any fees for teaching the Master Class. Instead, one half of all tuition proceeds will be donated to the New Jersey Scholars Program on behalf of Ken Abbott.



Finance professionals, academics, and students interested in gaining a high level introduction to commodities and commodities markets.

Attendees will deepen their knowledge of the extraction, processing, transportation, and trading of key commodities, how commodities markets has evolved over time, and how recent regulatory changes may affect the commodities markets going forward.


GARP CPE Credits

The Master Class on Commodities has been approved for GARP Continuing Professional Education (CPE) credits.  Baruch College has determined that this program qualifies for 6.0 GARP CPE credit hours.  If you are a Certified FRM or ERP, please contact for more information. 



Saturday, November 16

9:00-9:30am Registration and light breakfast; coffee and tea available throughout the day

9:30am-12:30pm Morning Session

12:30-2:00pm Lunch Break (lunch not provided)

2:00-5:00pm Afternoon Session

Location: 55 Lexington Avenue (at 24th Street), Room 3-165, Newman Vertical Campus, Baruch College


Registration is closed

Seating is limited to 75 participants.

Practitioner: $395 (includes a $200 tax-deductible donation to the New Jersey Scholars Program)

Student/Academic: $195 (includes a $100 tax-deductible donation to the New Jersey Scholars Program)