Job Description of a Commodity Trader
A commodity is a good of value that is traded on the open market. Agriculture such as grain and fruit and natural resources such as gold and oil are examples of these products. A commodity trader is the salesperson who facilitates their purchase and sale.
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Buy/Sell
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After agreeing upon a price at which to buy and sell commodities, a commodity trader actively makes bids to buy and sell commodities on behalf of the clients.
Market Research
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Commodity traders pay close attention to the condition of the market (e.g. trends, prices and the like) so they may both serve as subject matter experts to their clients, and make educated trades.
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Education Information
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Particularly in larger organizations, commodity traders are required to possess a four-year degree. Finance and economics are common areas of study.
Licensing and Registration
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In order to legally gain employment, prospective commodity traders must successfully complete the General Securities Registered Representative Examination, commonly called the Series 7, and register with the Financial Industry Regulatory Authority (FINRA) as a representative of their employer.
Salary Information
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According to career exploration website O*NET, a service of the United States Bureau of Labor, the average commodities trader employed in the U.S. in 2008 earned an annual income of $68,680.
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References
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- Photo Credit corn-cobs image by Maria Brzostowska from Fotolia.com
