Are you trying to find a website like Open Exchange Rates? Check out these alternatives to Commodities Prices API!
Market data is a catch-all word for the financial information required for researching, analyzing, trading, and accounting for financial instruments across all asset classes on international markets. From ordinary, individual, and “simple” services and contents (such professional workstations) to complicated data flows and sophisticated data processing systems supporting numerous Business sectors, there is a wide range of diversity available.
Thus, the term “Market Data Management” refers to the management of contractual agreements with the Data Providers as well as the administration of goods and services related to market data (i.e. proprietary data Sources, like the Markets, and the Data Vendors, which gather and distribute data from the Sources to the Users). Market Data Management professionals work in a complex market environment that includes, in addition to the quantity and diversity of goods and services, the following characteristics:
– Significant demand growth – Market data is required in many business domains. Above all, the number of requests for big data, new media, and regulatory needs is rising;
– Low level of competition – On the particular items, the offer is defined by a small number of Suppliers with low levels of rivalry; in addition, multiple mergers and acquisitions are now taking place among the various market participants;
– Constant price rises – On stark contrast to other goods and services (such as software), Market Data Vendors announce price increases each year that range in average from 2% to 10%;
– Hyper-binding contracts and policies – Contracts increasingly specify the subscribers’ rights and obligations in a legally-binding manner. Economic and operational hazards are present when new regulations established by Market Data Providers are disregarded;
– Right to Audit – Another unique feature of contracts for this kind of goods and services is the provision that grants the right to audit to those who sell the subscriber’s usage of the data. These inspections may lead to the discovery of corrective activities, frequently coupled with severe fines;
– Lack of financial operator protection – The financial sector is behind in developing regulations to prevent the aforementioned business activities enforced by Market Data Providers.
For that reason, Open Exchange Rates provides a portable, live, and easy API with currency rates for more than 200 digital currencies throughout the globe. You may already be utilizing this platform to integrate JSON-formatted API to learn how to invest. Data from a range of trustworthy sources are collected and merged algorithmically to ensure fair and unbiased coherence.
The forms of exchange that are made available through the Open Exchange Rates API are aggregated from data from several reliable sources, provided in JSON format for all users, and then published. There aren’t any confusing contracts, difficult consultation processes, or difficult authentication procedures.
If Open Exchange Rates does not convince you, there are a number of substitute websites that employ computers to give their customers financial and altering information. Due to this, we bring you this others softwares for market data:
Commodities-API
Commodities-API it´s a platform that provides you that of oil, rice, sugar, coffee, and other basic commodities, all priced using this open-source API. The website is easy to use: get an API key first, then choose the right currency and product to obtain the data. Following that, you may use the API as you like.
Users of Commodities-API can choose from more than 170 different currencies and receive data with an accuracy of two decimal places. You are permitted to issue up to 100,000 API requests each month and get data updates every 60 seconds.
Barchart
Market data and services are provided by international fintech business Barchart to the financial, commodities, and media industries. In the development of websites that provide information on the commodities and futures markets, he was a pioneer. In addition to providing web content, news, and periodicals to help financial and commodities professionals make choices, Barchart’s media brands also fuel the operations of its varied customer base from the front end to the back end.
CommoPrices
The website CommoPrices offers reliable, accurate, and up-to-date information. They provide a wide variety of goods and raw materials. How much data is there in a market determines its liquidity. They encrypt interactions between your browser and their servers using HTTPS for security reasons.