CoT Data (Commitments of Traders)

CoT reports contain survey data published by the CFTC that provide a breakdown of each Tuesday’s positional data for market participants in the United States futures markets.

Data Source: CFTC

Commodity Futures Trading Commission | CFTC

Commitment of Traders Metrics

Asset Managers

Asset managers are institutional investors, including pension funds, endowments, insurance companies, mutual funds and those portfolio/investment managers whose clients are predominantly institutional.

Dealers

Dealers are what one typically describes as the “sell side” of the market. This includes large banks (U.S. and non-U.S.) and dealers in securities, swaps and other derivatives. Though they may not predominately sell futures, they do design and sell various financial assets to clients. Dealers take positions in futures contracts to offset risk associated with the products they sell.

Largest 4 Longs or Shorts, Gross

The percents of open interest held by the largest four and reportable futures traders. The "Net Position" ratios are computed after offsetting each trader’s equal long and short positions. A reportable trader with relatively large, balanced long and short positions in a single market, therefore, may be among the four and eight largest traders in both the gross long and gross short categories, but will probably not be included among the four and eight largest traders on a net basis.

Leveraged Funds

Leveraged funds are typically hedge funds and various types of money managers, including registered commodity trading advisors (CTAs); registered commodity pool operators (CPOs) or unregistered funds. The strategies may involve taking outright positions or arbitrage within and across markets. The traders may be engaged in managing and conducting proprietary futures trading and trading on behalf of speculative clients.

Money Manger

Money managers are institutional investors, including pension funds, endowments, insurance companies, mutual funds and those portfolio/investment managers whose clients are predominantly institutional.

Producers

Producers are entities that incur risk from dealing in the physical commodity. This includes producers, merchants, processors and user of the commodity.

Swap Dealers

Dealers are what one typically describes as the “sell side” of the market. This includes large banks (U.S. and non-U.S.) and dealers in securities, swaps and other derivatives. Though they may not predominately sell futures, they do design and sell various financial assets to clients. Dealers take positions in futures contracts to offset risk associated with the products they sell.