CRP Crosswalk

What is a commodity reference price?

A commodity reference price (CRP) is the named, published price source that a commodity derivative settles against — an ICE Brent futures settlement price, for example, or a Platts fuel oil assessment. Regulators and trade repositories use reference price names to identify what a contract actually references, independently of the counterparties' own internal product naming.

Two industry bodies publish machine-readable lists of these names: the ANNA Derivatives Service Bureau, whose commodity reference rate definitions underpin UPI creation, and FpML, whose commodity reference price coding scheme is used in derivative trade messaging. The two lists overlap heavily but are not identical — this tool unions them and shows you which source each name came from.

What are base, sub and additional product codes?

The ISO 20022 commodity taxonomy classifies a commodity derivative across three levels: a four-letter base product such as NRGY for energy, a sub-product such as OILP for oil products, and an optional additional sub-product such as FOIL for fuel oil. The three codes are validated as a set, not individually.

Because the levels are hierarchical, a valid sub-product code is only valid beneath its own base product, and an additional sub-product is only valid beneath its own sub-product. Sending a combination that does not exist in the taxonomy — even when each individual code is real — will be rejected. Browsing the tree on this page is a quick way to see which combinations exist.

Why do CRP mappings matter for EMIR and CFTC reporting?

Commodity derivative reports must carry the base, sub and additional sub-product codes, but front-office and confirmation systems typically store only the reference price name. Mapping that name to the correct taxonomy triple is what stands between a clean submission and a repository rejection, a pairing failure, or a reconciliation break with your counterparty.

The same classification also drives downstream outcomes: it feeds the commodity attributes of the UPI, it determines which validation rules a submission is measured against, and under EMIR it contributes to the commodity asset-class position used in clearing threshold calculations. A mapping error therefore rarely stays contained to one field — it propagates. Getting it right once, in a controlled reference table, is far cheaper than correcting it trade by trade.

How is this crosswalk built, and how accurate is it?

Point Nine compiles the reference price names published by the ANNA DSB and FpML, then classifies each name against the ISO 20022 taxonomy. Structured names parse deterministically from their own segments; longer legacy names are classified by rule. Every record carries the method used and a confidence score, so you can see how it was derived.

A residue of names cannot be classified at all: DSB “Other Reference Rate” entries are opaque identifiers that carry no product information in the name. Those are published as unmapped rather than guessed, and you can show them with the Include unmapped toggle. Some records carry a base and sub-product but no additional code: crack and netback valuations, for example, are crude-oil valuations for which no detailed code applies, so the field is deliberately left empty rather than forced.

Where market practice and the letter of the taxonomy diverge, we follow practice and disclose it on the record rather than silently relabel the code. Generic natural gas is classified to GASP, which ISO 20022 formally defines as the GASPOOL hub (merged into Trading Hub Europe in 2021); the strictly conformant alternative is to omit the additional code altogether.

The mapping is our editorial interpretation, not an endorsed industry standard, and it is refreshed when the source lists are updated. If a classification looks wrong to you, open the record and use the reporting link — corrections from practitioners are the fastest way this dataset improves.