{"id":14706,"date":"2024-11-20T10:27:00","date_gmt":"2024-11-20T09:27:00","guid":{"rendered":"https:\/\/www.lcta.ch\/?p=14706"},"modified":"2026-09-29T11:11:16","modified_gmt":"2026-09-29T09:11:16","slug":"november-20-21-2026-course-contract-chains-back-to-back-risk-in-commodity-trading","status":"publish","type":"post","link":"https:\/\/www.lcta.ch\/en\/november-20-21-2026-course-contract-chains-back-to-back-risk-in-commodity-trading\/","title":{"rendered":"November 20-21, 2026 | COURSE: Contract Chains &amp; Back-to-Back Risk in Commodity Trading"},"content":{"rendered":"\n<hr class=\"wp-block-separator has-css-opacity is-style-wide\"\/>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-f56f613f wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1129\" height=\"271\" src=\"https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2024\/01\/Logo-LCTA-300-dpi.jpg\" alt=\"\" class=\"wp-image-9653\" style=\"width:313px;height:auto\" srcset=\"https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2024\/01\/Logo-LCTA-300-dpi.jpg 1129w, https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2024\/01\/Logo-LCTA-300-dpi-300x72.jpg 300w, https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2024\/01\/Logo-LCTA-300-dpi-1030x247.jpg 1030w, https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2024\/01\/Logo-LCTA-300-dpi-768x184.jpg 768w, https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2024\/01\/Logo-LCTA-300-dpi-705x169.jpg 705w\" sizes=\"auto, (max-width: 1129px) 100vw, 1129px\" \/><\/figure>\n\n\n\n<div style=\"height:5px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Friday<\/strong>, <strong>November 20, 2026 from 14:00 to 17:30<br>Saturday, November 21, 2026 from 08:30 to 12:00<\/strong><\/h3>\n\n\n\n<div style=\"height:5px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Venue<\/strong>: Chamber of commerce and industry of Canton Ticino, Corso Elvezia 16, 6900 Lugano \u2013 Dott. Gildo Papa Classroom (6<sup>th<\/sup> floor)<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><em>CCTS Partner:<\/em><\/h4>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<p class=\"wp-block-paragraph\"><strong>Registration deadline:<br><\/strong>November 13, 2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Registration<\/strong>: <br>Mandatory, via <a href=\"https:\/\/lcta.swicket.ch\/event\/ccriskct2026\" data-type=\"link\" data-id=\"https:\/\/lcta.swicket.ch\/event\/ccriskct2026\" target=\"_blank\" rel=\"noopener\">form<\/a><\/p>\n<\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-f56f613f wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.34%\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.34%\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2026\/09\/logo.svg\" alt=\"\" class=\"wp-image-14669\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><\/div>\n<\/div>\n\n\n\n<div style=\"height:31px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity is-style-wide\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Introduction<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Commodity traders frequently operate as <strong>intermediaries, purchasing goods from one counterparty and reselling them to another<\/strong>. Transactions may be described as \u201cback-to-back\u201d, but seemingly minor differences between purchase and sale contracts can leave the trader exposed to risks that cannot be passed through the contractual chain.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This advanced course examines <strong>how contractual chains work in practice, where mismatches arise and how traders can identify and manage residual exposure between purchase and resale transactions<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The focus is not on general contract law, but on <strong>contract alignment and risk allocation from the perspective of the trader sitting in the middle of the chain<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Target audience<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Commodity traders, trade operations and execution professionals, contract managers, trade finance professionals, in-house legal teams, risk managers and professionals responsible for negotiating, confirming or executing physical commodity transactions.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Content<\/h2>\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2026\/09\/20261120-21_Contract-chains-back-to-back_program-1.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of 20261120-21_Contract-chains-back-to-back_program.\"><\/object><a id=\"wp-block-file--media-5ec94498-0125-4007-b8ae-f7eafaae1f5a\" href=\"https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2026\/09\/20261120-21_Contract-chains-back-to-back_program-1.pdf\">20261120-21_Contract-chains-back-to-back_program<\/a><a href=\"https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2026\/09\/20261120-21_Contract-chains-back-to-back_program-1.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-5ec94498-0125-4007-b8ae-f7eafaae1f5a\">Download<\/a><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Lecturer<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Samuele Ancarani, Chief Counsel, Duferco \/ DITH Group<\/strong><br>Samuele Ancarani is an experienced international corporate lawyer with more than 25 years of legal practice across the metals, automotive and agricultural sectors.<br>He holds a Law Degree from the University of Bologna and an LL.M. in International Business and Trade Law from Fordham University School of Law in New York, and has pursued further professional training in international trade, sanctions, arbitration, shipping and derivatives law.<br>Since November 2007, Samuele has been working for Duferco \/ DITH Group in Lugano, Switzerland, where he oversees legal matters for a global metals trading group with operations worldwide.<br>His work focuses on international commercial agreements governed primarily by English and Swiss law. He has extensive experience in negotiating and drafting complex sale, supply, distribution, offtake, joint venture and financing agreements, as well as leading legal support for numerous cross-border M&amp;A transactions involving companies in Europe, China, Central America and the United States.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity is-style-wide\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Admission<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>CHF 420.- (VAT excl.) for LCTA\u2019s Executive Board and Regular members; a 25% discount applies from the 2nd participant from the same company<\/li>\n\n\n\n<li>CHF 440.- (VAT escl.) for CCTS Alumni attending for SAQ re-certification purposes<\/li>\n\n\n\n<li>CHF 460.- (VAT excl.) for LCTA\u2019s Sponsor members; a 15% discount applies from the 2nd participant from the same company<\/li>\n\n\n\n<li>CHF 550.- (VAT excl.) for non-members<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Maximum number of participants: 20.<br>Registrations are accepted on a first-come, first-served basis.<br>Participants will be awarded a Certificate of Participation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If a participant is unable to attend the course, a substitute may be appointment at any time. Requests for substitutions will only be accepted by e-mail to <a href=\"mailto:info@lcta.ch\">info@lcta.ch<\/a>. For cancellations made 5 days or less before the course start date, 30% of the fee will be retained to cover administrative expenses. All \u201cNo Shows\u201d will be charged the full course cost.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Remark for CCTS Alumni:<\/em> this course is accredited for the SAQ re-certification for the \u201cCertified Commodity Trading Specialist\u201d (CCTS) certification (6 credits).<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"468\" src=\"https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2023\/03\/SAQ_certification.png\" alt=\"\" class=\"wp-image-12038\" style=\"width:221px;height:auto\" srcset=\"https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2023\/03\/SAQ_certification.png 1024w, https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2023\/03\/SAQ_certification-300x137.png 300w, https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2023\/03\/SAQ_certification-768x351.png 768w, https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2023\/03\/SAQ_certification-705x322.png 705w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Friday, November 20, 2026 from 14:00 to 17:30Saturday, November 21, 2026 from 08:30 to 12:00 Venue: Chamber of commerce and industry of Canton Ticino, Corso Elvezia 16, 6900 Lugano \u2013 Dott. Gildo Papa Classroom (6th floor) CCTS Partner: Registration deadline:November 13, 2026 Registration: Mandatory, via form Introduction Commodity traders frequently operate as intermediaries, purchasing goods [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[],"class_list":["post-14706","post","type-post","status-publish","format-standard","hentry","category-agenda-en"],"publishpress_future_action":{"enabled":false,"date":"2026-10-06 17:35:54","action":"category","newStatus":"draft","terms":[49],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/posts\/14706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/comments?post=14706"}],"version-history":[{"count":1,"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/posts\/14706\/revisions"}],"predecessor-version":[{"id":14708,"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/posts\/14706\/revisions\/14708"}],"wp:attachment":[{"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/media?parent=14706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/categories?post=14706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/tags?post=14706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}