Metals Product Specification

Product Code:

COM-MET-GLO-ALL

Description:

End of Day broker prices are based on expert assessment of daily activity in covered markets. Displayed prices do not represent currently actionable orders. Curve coverage is dependent on market activity, and levels of granularity may fluctuate based on changes in liquidity. Forward curves typically span from front week/front month up to 10 years out and Option curves typically span from front month to 5 years out.

Data Source:

TraditionData Metals Data Packages are coming from Tradition’s market-leading global brokerage desks

Delivery Method:

• EOD snap delivered via SFTP.

Data Frequency:

The market data is extract at the end of day.

Data Format:

CSV file for snap files.

• Forward file :Tradition_MetalFWDS_YYYY_MM_DD.csv
• Option file :Tradition_Metal_ATMVOLS_YYYY_MM_DD.csv

Data Coverage:

• Asset Class: Energy & Commodities
• Sub Class: Commodities
• Total: 125 instruments
• Tenures: 10 year tenure
• Desks: 3 global brokerage desks
• Precious metals : Gold (GC), Silver ( SI ), Platinum ( PL ) and Palladium ( PA )

Precious Metals Forwards Data Coverage

Precious Metals	Tenures
GOLD FORWARDS	10yr, 12m, 18m, 1m, 1wk, 2m, 2yr, 3m, 3yr, 4m, 4yr, 5m, 5yr, 6m, 6yr, 7yr, 8yr, 9m, 9yr
SILVER FORWARDS	12m, 1m, 1wk, 2m, 2yr, 3m, 3yr, 4yr, 5yr, 6m, 9m
PLATINUM FORWARDS	12m, 18m, 1m, 2m, 2yr, 3m, 6m, 9m
PALLADIUM FORWARDS	12m, 1m, 2m, 2y, 3m, 6m, 9m

EFP (Exchange of Futures for Physical) contracts

EFP Contact	Description
GCM4	Gold Futures contact expiring in June 2024
SIN4	Silver futures expiring in July 2024
PLN4	Platinum futures expiring in July 2024
PAM4	Palladium Futures contact expiring in June 2024

Precious Metals Volatility Options Data Coverage

Precious Metals	Tenures
XAUUSD	10Y, 1M, 1Y, 2M, 2Y, 3M, 3Y, 4Y, 5Y, 6M, 7Y
XAGUSD	1M, 1Y, 2M, 2Y, 3M, 3Y, 4Y, 5Y, 6M
XPDUSD	12M, 1M, 2M, 3M, 6M
XPTUSD	1M, 1Y, 2M, 3M, 6M

Tradition Data Packages:

Product Code	Product Name
COM-MET-GLO-ALL	Metals - Global
COM-MET-GLO-FWD	Metals - Global Forwards
COM-MET-GLO-VOL	Metals - Global Volatility Options

FAQ:

Question	Answer
How many snap files are available per day?	Only one EOD snap at 5PM ET
When Tradition started precious metals trading ?	Tradition began covering precious metals in 1987 with the brokering of gold and silver options. In 1988, the purchase of assets of the London operations of the German broker DFS allowed for the development of further activity in the form of spot and forwards on physical transactions. Presently, Tradition covers precious metals from New York, London, Sydney and Dubai. It continually leads its competitors in the brokering of options and provides a high proportion of made-to-measure option strategies for specific client needs.
Explain EFP future Contact symbol	The contact symbol has three parts 1. The root symbols like GC, SI or PL identify the precious metal 2. The standard month codes (Jan=F , Feb=G, Mar=H, Apr=J,May=K,June=M, July=N,Aug=Q, Sept =U,Oct=V,Nov=X and Dec=Z ) 3. Year code. Example GCM4 is Gold Futures contact expiring in June 2024
What is Volatility-Quoted FX Options (VQO)?	FX volatility option contract refers to an FX option that is quoted and traded in terms of implied volatility instead of the traditional premium amount. Instead of trading the option premium directly, market participants submit orders specifying the implied volatility level they are willing to trade at. After a volatility level is matched, the trading platform calculate the actual premium amount and delta hedge quantity for the corresponding standard FX option contract. This allows trading and hedging the option volatility exposure directly, reducing the impact of underlying spot FX rate fluctuations on the option premium.
Explain a volatility option contact symbol	The contact symbol has three parts 1. Currency pair, example XAGUSD gold (XAU) againt the US dollar (USD) 2. "ATMVOL" the implied volatility of an at-the-money option on the XAU/USD currency pair. 4. Tenor of the option contract Example XAGUSDATMVOL1M is implied volatility of a 1-month at-the-money option contract on the XAU/USD (gold/US dollar) currency pair
What is EFP (Exchange of Futures for Physical) transaction?	An EFP (Exchange of Futures for Physical) is a transaction where a futures contract position is exchanged for an equivalent position in the physical commodity underlying the futures contract. An EFP involves the simultaneous exchange of: A futures contract position (e.g. buying or selling a futures contract) An opposite position in the actual physical commodity underlying that futures contract (e.g. selling or buying the physical commodity) It is a privately negotiated agreement between two parties to exchange a futures position for the corresponding physical commodity position. The parties agree on the price, quantity, and delivery details for both the futures leg and physical leg. It allows parties to separate pricing from physical supply by swapping physical exposure for a futures price exposure. It is executed off the centralized exchange but then submitted to the exchange for clearing and settlement. Common in commodity markets like oil, natural gas, metals etc. where producers/consumers hedge risk by exchanging physical positions for futures.
What are futures contract symbols for precious metals traded on major exchanges?	Gold Futures: COMEX Gold (CME): GC Silver Futures: COMEX Silver (CME): SI Platinum Futures: Platinum (NYMEX): PL Palladium Futures: Palladium (NYMEX): PA Copper Futures: Copper (COMEX): HG
What is the root latin names of precious metal codes?/td>	XAU comes from Aurum (gold),XAG comes from Argentum (silver),XPT comes from Platinum and XPD comes from Palladium
What is trading symbols of precious metals against the US dollar ?	Gold: XAUUSD, Silver: XAGUSD, Platinum: XPTUSD and Palladium: XPDUSD
What are month codes used for futures contracts ?	January: F , February: G, March: H, April: J,May: K,June: M, July: N,August: Q, September: U,October: V,November: X and December: Z
Is Historical Data Available?	Yes,Since 2022

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