Standards
Professional Competence Framework
The Professional Competence Framework defines the knowledge, skills and behaviours expected of registered commodity trading professionals. It is the foundation on which CRT's certification, learning programmes and conduct standards are built.
Purpose
The Professional Competence Framework (PCF) serves as the authoritative reference for what it means to be a competent commodity trading professional. It provides the basis for the Foundation Certificate curriculum, the assessment criteria for all CRT qualifications, and the minimum standard that all registered traders are expected to meet.
Scope
The PCF applies to individuals engaged in the trade of physical commodities, including but not limited to: crude oil and refined petroleum products; natural gas and LNG; metals and mining products; agricultural commodities; soft commodities and related physical goods.
The PCF does not address financial derivatives, securities or regulated financial instruments. Where commodity trading intersects with regulated financial activities, practitioners must comply with applicable regulatory requirements regardless of CRT membership status.
Framework structure
The PCF is organised into three dimensions:
- Domains
- Clusters of related competences covering a distinct area of professional practice. Seven domains are proposed.
- Indicators
- Specific observable statements of competent behaviour within each domain. Assessment is conducted against indicators.
- Proficiency levels
- Three levels — Foundation, Practitioner, and Expert — indicating depth of competence in each domain.
Proposed competence domains
Domain definitions are in draft — subject to consultation
The following domain titles are proposed. Full indicator sets will be published with the consultation draft.
Last updated: June 2026
- Commodity Markets and Instruments: Understanding of physical commodity markets, pricing mechanisms, benchmarks, and contract structures.
- Trade Finance and Payment Mechanisms: Knowledge of letters of credit, documentary collections, payment guarantees, and trade finance structures.
- Logistics and Supply Chain: Understanding of physical delivery, shipping, warehousing, quality inspection, and insurance.
- Legal and Contractual Frameworks: Understanding of commodity trade contracts, applicable law, dispute resolution, and terms of trade.
- Risk Identification and Management: Ability to identify, assess and mitigate counterparty, market, credit, operational and legal risks.
- Regulatory and Sanctions Compliance: Knowledge of applicable sanctions regimes, AML/KYC requirements, and relevant trade regulations.
- Professional Conduct and Ethics: Commitment to the CRT Code of Professional Conduct, including conflict-of-interest management and client interests.
Proficiency levels
| Level | Description | Assessed by |
|---|---|---|
| Foundation | Core knowledge and understanding across all domains. Entry-level professional competence. | Foundation Certificate (in development) |
| Practitioner | Applied competence with demonstrated experience. Able to manage complex transactions independently. | Practitioner Assessment (proposed) |
| Expert | Advanced and specialised competence. Able to advise, lead and mentor others. | Expert Recognition (proposed) |
Assessment methods are proposed and not yet operational.
Document status
Draft version — not yet subject to formal consultation
This framework is in draft. The content on this page is a summary. The full draft document will be published prior to formal consultation. No assessment is conducted against this framework at present.
Last updated: June 2026
Questions or feedback on the framework may be directed to the Contact page. Formal consultation will be announced through the Consultations section.
Change history
| Version | Date | Summary |
|---|---|---|
| 0.1 | June 2026 | Initial draft — domain structure proposed; indicator sets in preparation. |
Document information
- Version
- Version 0.1 (Draft)
- Effective date
- To be determined following consultation
- Last updated
- June 2026
- Responsible body
- CRT Standards Committee (proposed)
- Reference
- CRT-STD-0001