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Top 3 Commodity APIs With Reliable Sources

Do you want to know how to stay updated with reliable platforms about commodities? Chose between these three commodities prices API that will help you in the world of investment!

The Internet can be a place to accomplish many things. Among them, investing in commodities. But, for this we must understand that we must keep our finances insured. Next, we will give you tips to achieve on keeping your online investing accounts safe.

Market data refers to the financial information required for conducting research, analysis, trading, and accounting for financial instruments across all asset classes on global markets. It spans from conventional, individual, and “simple” services and content (such as professional workstations) to complicated data flows and sophisticated data processing systems covering numerous Business sectors in terms of diversity.

Market Data Management therefore refers to the administration of Market Data-related goods and services, as well as the management of contractual agreements with Data Providers (i.e. proprietary data Sources, like the Markets, and the Data Vendors, which gather and distribute data from the Sources to the Users).

Banks throughout the world have been confronted with new and challenging challenges in recent years as market data access volumes and prices have increased. Wholesale banks in Europe were affected by a constant growth in financial information spending from 2015 to 2022.

In light of the increased demand for Bank 4.0 data, often known as “data-driven banks,” market data costs may rise even faster in the short/medium term. Several factors can be blamed for the cost increase’s origins:

  • changing legal and regulatory duties as remote channels continue to grow
  • restricted ability to negotiate (in particular in oligopolistic supply markets)
  • Synergies are underutilized (at group-level)
  • Contractual non-compliance claims
  • Demand management techniques that are ineffective
  • lack of command

In such a complicated setting, a bank seeking to reduce yearly expenses by as much as 10% by optimizing its financial data vendor expenditure must proactively identify and solve these challenges, using a strategy that combines technical and administrative skills.

Within all these things we mentioned about market data from banks, we can recommend three platforms that will meet your security requirements when investing in commodities on the Internet, obtaining data from various banking entities and giving you the most up-to-date and secure data on the network.

Barchart

One of the earliest websites to give commodity and futures market data was Barchart. Is an international financial technology company that provides market data and services to the financial, media, and commodities industries. Barchart’s unique data, software, and technology solutions power the operations of its diversified customer base from front to back office, while its media brands deliver web content, news, and publications to aid financial and commodities professionals in their decision-making.

Commodities-API

Commodities-API It’s a free public API that shows you the price of commodities including coffee, rice, sugar, and wheat. To obtain the data, simply log in to the website, obtain an API key, and then select the appropriate currency and commodity. That’s all there is to it, and you may use the API anyway you choose. The Commodities-API can provide data in whatever currency you choose, with a 2 decimal point precision, from a list of over 170 possibilities. Each month, you may obtain 60-second data updates and conduct 100.000 API requests.

Commo-Prices

This API gives you access to over 10,000 commodities and indices’ prices and values. The data may be updated daily, weekly, or monthly, depending on the source. A market’s liquidity increases as more data is available. You may find out more by visiting www.api.commoprices.com and looking for the commodity you’re interested in. For security reasons, they encrypt queries between your browser and their servers using HTTPS.

Published inTechnology

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