The GX methodology uses code to produce commodity indexes. System structure components:
GX receives data from a wide variety of sources including market participants and a variety of public and non-public sources reviewed by our pricing analysts. Data is chosen for the relevance to the specific market being assessed and can take any form.
The GX validation engine normalises, eliminates duplication and verifies data. GX analysts manage and review data submission from a variety of sources, minimizing integration cost for submitters. The data is filtered and interpreted by GX to ensure accurate index generation. Having the ‘GX source of truth’ enables data to be collected in raw forms minimising integration costs for data submitters.
Trade and fundamentals data store
The trade and fundamental data store manages all data inputs to enable the pricing engine to correctly determine market price based on the approach detailed in the relevant methodology factsheet.
The GX pricing engine is the implementation of the GX vision of ‘methodology is code’. Pricing algorithms are step-by-step calculations. Once the approach to assessing price has been determined by consultation with the industry, the pricing analysts develop a series of coded steps to exactly determine the price as summarised in the relevant methodology factsheet. This ensures consistent application of the methodologies adopted by the marketplace.
Index price store
GX has developed a proprietary data format to enable subscribers to effectively integrate GX index data into their workflows. The data format allows the subtleties of commodity price data to be accurately reflected whilst also enabling quick access to key prices in the underlying data.
GX pricing data is easy to integrate directly via sFTP, secure API or available through one of our data partners. Clients can also choose to receive email confirmations of data.