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| Frequently Asked Questions | ||
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How often do you update the data? How do you deliver and compress the data? What time do you post the data? How far forward does the data go? How do you represent the trading hours? How do you handle randomized opening/closing times? Is there a way to identify new trading hours? How can I convert across time zones? Are there any limits on which markets I can select? What if I need trading hours for a market that's not on your list? Can I order more markets in the future? What are the layouts of the Trading Hours data? What file formats are available? Can you customize the data layout and format? Can I switch to a different layout or format next year? What's the turnaround time for obtaining the data? How often do you update the data? We monitor trading hours (and the associated holidays) constantly because they can change at any time. In effect, we treat trading hours as real-time data. We deliver fresh data to customers every day, and we issue intra-day updates as necessary. How do you deliver and compress the data? We deliver the data via our FTP servers. The files are compressed using WinZip or GZip. Your delivery and compression choices do not affect the price of the data. What time do you post the data? By 11am New York time. We may also issue intra-day updates at any time. How are you able to charge money for the data when some of this information is available for free elsewhere? Because we add value, in three main areas. First, we filter the data for accuracy by eliminating the many errors that occur even in official publications. Second, by virtue of the Holiday Data that we publish, we already have accurate data for holidays, which are one of the most complex factors that determine irregular trading hours. Third, we’ve figured out how to organize, deliver and service the data in a customer-friendly fashion. Yes. We offer unlimited, free informational support to all paying customers. How far forward does the data go? The standard package covers a 26 day window that starts today and ends 25 days later. However, we can supply any data window as far forward as the year 2100. How do you represent the trading hours? In the local time of each market and converted into a common standard of your choice (e.g. London time). How do you handle randomized opening/closing times? By definition it’s impossible to know the exact time when trading will open or close at markets that randomize. However, we do know the earliest and latest possible times at which trading may open or close and we present this information in two ways: It’s embedded in the name of each trading session; and we can supply you (using the Detailed layout) with this time range in machine-readable form. Is there a way to identify new trading hours? Yes. We provide (in the Detailed layout) a field which flags the first days on which new trading hours are in effect at a market. In the files we deliver to customers, there is one row (record) for every trading session. Among the information that we provide in each row is the trade date. If a given date is not present, you can impute that it must be either a holiday or a weekend. If you prefer to determine the holidays directly from our Holiday Data feed, we provide all the necessary mapping information. How can I convert across time zones? You don't have to. We can present the data in any common standard of your choice (e.g. London time, New York time, etc.). The contract specifies your usage rights for the data; it sets out our obligations to update the data and deliver it on a timely basis; it specifies the circumstances in which the two parties may cancel; and it sets out the cost. The contract is three pages long, plus a schedule. Yes. You may cancel at any time and for any reason. Are there any limits on which markets I can select? There are no limits. You can choose any combination from the List of Available Markets, as few or as many as you like. What if I need trading hours for a market that's not on your list? We’ll develop the data for you, and we’ll charge you the same price as a market that’s already in inventory. The only difference is that the development work for a new market may take some time. Can I order more markets in the future? You’re welcome to add new markets at any time. The contract is structured to make it very easy to do so. What are the layouts of the Trading Hours data? We offer three standard layouts for the data, called Detailed, Compact and Extended. We also offer numerous customization options. Your choice of layout has no effect on the cost, and you can switch among them at any time and without charge. To view the layouts, click here. A common feature of all the layouts is that there is one row (record) for each trading session at each market for every trade date. For example, a market with two sessions would have two rows for each trade date, one for each session. The Detailed layout is the most comprehensive. You can view it here. The first column contains the trade date, the second the Swaps Monitor-assigned four-letter code for the market, while the third contains the full name of the market. The next two columns contain markers to indicate deviations from the norm. The fourth column shows days with irregular trading hours, due for example to an early close or a system crash. The fifth column shows days on which new generic trading hours are in effect. The remaining columns show the actual trading hours in local time and converted into a common standard (GMT in the example on our website). There are also four columns that quantify the uncertainty about open and close times that arise in the case of markets that randomize. The second layout is called Compact. In the first column is the four-letter code for the market. The full name of the market is contained in one of the supporting lookup tables that we supply. The second column contains a three-letter code that represents a description of the trading session, with the full meaning contained in another supporting lookup table. The third column indicates whether the hours are regular or irregular, in the same fashion as the Detailed layout, and the fourth shows the trade date. The next two columns contain the date and time at which trading starts and ends, expressed in local time. If you have requested that we convert the local times across time zones, there will be two additional columns for each such conversion. In the Extended layout, the first column contains the name of the market, while the second contains the Swaps Monitor-assigned code for the market, the third a description of the nature of the trading activity, the fourth indicates whether the hours are regular or irregular, and the fifth shows the trade date. The next four columns contain the day and hour at which trading starts and ends, expressed in local time. If you have requested that we convert the local times across time zones, there will be four additional columns for each such conversion. What file formats are available? We offer three formats: Excel, tab-delimited, and comma-delimited. We can also provide customized delimiters. The format you select does not affect the cost. Can you customize the data layout and format? Yes. If the standard layouts or formats do not meet your needs, we can customize them for you. However, depending on the amount of work involved, there may be an additional charge. Can I switch to a different layout or format next year? Yes. You can switch between our standard formats and layouts at any time and at no extra charge. If I write a routine for installing the data into my system, can I be certain that the structure of the data won't change? Yes. Because we have many customers who have written such routines, we guarantee that the structure of the files will never change. If you’re thinking of writing any routines for manipulating the data, we can provide you with detailed technical specifications. What's the turnaround time for obtaining the data? We can send you a contract within about two hours of receiving your order. After you’ve signed the contract and sent it back to us, we can deliver the data within about two hours. Of course, time zone differences and holidays may result in delays. In our experience, the most time-consuming aspect of the process is normally the internal review procedure that most customers employ prior to obtaining signature approval. Complete the Order Form and fax it to us. We’ll send you a contract for signature. To e-mail us a question, click here.Copyright © Swaps Monitor Publications, Inc., 2008. |